First time buyers, move up buyers....what are you waiting for?
The first time homebuyers tax credit of up to $8000 has been extended up to April 30, 2010!!!!! And there has been an expansion to include move-up buyers with a credit of up to $6500!!!
But there is no need to wait until April, great bargains are on the market now. Contact me to start your search now and move into your new home by the holidays.
Tuesday, November 10, 2009
Sunday, November 8, 2009
REO Specialist
At Simpson Associates, our Broker and Agents are certified REO Specialists. You can count on us to handle your foreclosure or short sale property with excellence and expedience.
If you are a seller and have any questions about what a short sale is or what happens in foreclosure, or if you are a buyer looking for properties and don't understand the different processes, please don't hesitate to contact me. Auctions are also gaining in popularity, so if you need information about buying or selling properties at auction, just send me an email. Thanks to the miracle of Blackberry, I can always be reached at LisaMerrittRealtor@gmail.com.
Also check the sidebar - I've added a new section with links that include the REO platforms we use as well as other sites that contain valuable information.
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If you are a seller and have any questions about what a short sale is or what happens in foreclosure, or if you are a buyer looking for properties and don't understand the different processes, please don't hesitate to contact me. Auctions are also gaining in popularity, so if you need information about buying or selling properties at auction, just send me an email. Thanks to the miracle of Blackberry, I can always be reached at LisaMerrittRealtor@gmail.com.
Also check the sidebar - I've added a new section with links that include the REO platforms we use as well as other sites that contain valuable information.
Thursday, November 5, 2009
One Step Closer...First Time Buyer Tax Credit
Good news for first time homebuyers. Extension of the tax credit passed the Senate on November 4, 2009, and the bill is on to the House then President Obama for signature. The President has publicly indicated his support for the program, so it is likely to take effect.
The extension will make it possible for first time buyers under contract by April 30, 2010 to qualify for up to $8,000 in tax credit. Some municipalities have set up funds to provide the tax credit up front to purchasers so that they may use it towards downpayment, so check with your local city or county government. Other private sources may also be available.
The credit extension may also help existing homeowners who sell and move up by offering a credit of up to $6,500.
Good news all around!
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In other good news, my listing at 2430 NW 4 Street went under contract in two weeks! Contact me to list your property today.
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The extension will make it possible for first time buyers under contract by April 30, 2010 to qualify for up to $8,000 in tax credit. Some municipalities have set up funds to provide the tax credit up front to purchasers so that they may use it towards downpayment, so check with your local city or county government. Other private sources may also be available.
The credit extension may also help existing homeowners who sell and move up by offering a credit of up to $6,500.
Good news all around!
*********************************************
In other good news, my listing at 2430 NW 4 Street went under contract in two weeks! Contact me to list your property today.
Wednesday, October 21, 2009
New Listing - 2430 NW 4 Street, Miami, FL
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Thursday, October 15, 2009
Essential First Time Buyer Tips
With the first time homebuyer tax credit window rapidly closing, do your part to make your deal close on time! Many first time buyers seem to think they can just be under contract by November 30, but that is not true!!!! The property must CLOSE by Nov 30.
Most lenders need a minimum of 30 days to close a loan and many will not guarantee that everything will be wrapped up by Nov. 30. And of course with the tendency to procrastinate....more and more people witll be trying to get their paperwork done as we come closer to the deadline.
From Tom KElly at Inman News, "FHA-insured loans can take longer, even with an in-house underwriter. If the lender must send the file to the investor to have it underwritten, the lender is at the mercy of the investor's workload. Underwriting time frames should be shorter now because overall volume is lower, but everyone in the lending industry expects a late tax-credit rush."
So as s first time buyer, do your part to help your loan close and pull together your documentation in advance:
•Copy of driver's license and Social Security card
•Pay stubs (covering most recent 30 days)
•W-2 and 1099 statements for 2008 and 2007
•Copy of 2008 and 2007 federal tax returns with all schedules
•Bank statements for checking, savings, money market, CDs and IRAs (covering past two months) including account number and bank.
And that is just to get started! Keep in close contact with your mortgage banker or mortgage broker to make sure that you comply with providing any additional information as quickly as possible!
For more information, visit the full article by Tom.
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Most lenders need a minimum of 30 days to close a loan and many will not guarantee that everything will be wrapped up by Nov. 30. And of course with the tendency to procrastinate....more and more people witll be trying to get their paperwork done as we come closer to the deadline.
From Tom KElly at Inman News, "FHA-insured loans can take longer, even with an in-house underwriter. If the lender must send the file to the investor to have it underwritten, the lender is at the mercy of the investor's workload. Underwriting time frames should be shorter now because overall volume is lower, but everyone in the lending industry expects a late tax-credit rush."
So as s first time buyer, do your part to help your loan close and pull together your documentation in advance:
•Copy of driver's license and Social Security card
•Pay stubs (covering most recent 30 days)
•W-2 and 1099 statements for 2008 and 2007
•Copy of 2008 and 2007 federal tax returns with all schedules
•Bank statements for checking, savings, money market, CDs and IRAs (covering past two months) including account number and bank.
And that is just to get started! Keep in close contact with your mortgage banker or mortgage broker to make sure that you comply with providing any additional information as quickly as possible!
For more information, visit the full article by Tom.
Monday, September 28, 2009
Florida existing home and condo sales continue up!
Great news from the Florida Association of Realtors! Excerpts from the roport below:
ORLANDO, Fla. – Sept. 24, 2009 – Florida’s existing home sales rose in August – marking a full calendar year (12 months) that sales activity increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®.
Existing home sales rose 28 percent last month with a total of 13,850 homes sold statewide compared to 10,813 homes sold in August 2008, according to Florida Realtors. The state association also reported a 45 percent increase in last month’s statewide sales of existing condos compared to the previous year’s sales figure.
“For a year now, statewide sales of existing single-family homes in Florida have increased each month compared to the year-ago figures,” says 2009 Florida Realtors® President Cynthia Shelton, CCIM, CRE, a broker and director of investment sales with Colliers Arnold in Orlando. (CCIM stands for Certified Commercial Investment Member and CRE is the Counselor of Real Estate designation). “This is encouraging news, and while it shows the beginnings of recovery, the housing market still needs time to continue its gradual absorption of housing inventory that will help stabilize home prices. That is why it is critical for Congress to extend the first-time homebuyer tax credit into 2010. And, because it’s now taking longer to finalize a home sale, first-time buyers who want to take advantage of the $8,000 federal tax credit need to act quickly, or they may miss the closing deadline of Nov. 30, 2009.”
Signs point toward continued positive momentum in the housing sector, according to NAR’s latest industry outlook. NAR Chief Economist Lawrence Yun predicts existing home sales will rise through the fourth quarter. “Unless the tax credit is extended, no one should be surprised to see home sales drop in the first quarter of next year,” he said. “However, the fundamentals of the housing market and the economy are trending up, and we expect home sales to generally pick up in the second quarter of 2010. The buyer psychology may be shifting from, ‘Why buy now when I can purchase later,’ to ‘I don’t want to miss out on a recovery.’”
Interest rates for a 30-year fixed-rate mortgage averaged 5.19 percent last month, down significantly from the average rate of 6.48 percent in August 2008, according to Freddie Mac. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
© 2009 Florida Realtors®
Read the entire report at http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=223958
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ORLANDO, Fla. – Sept. 24, 2009 – Florida’s existing home sales rose in August – marking a full calendar year (12 months) that sales activity increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®.
Existing home sales rose 28 percent last month with a total of 13,850 homes sold statewide compared to 10,813 homes sold in August 2008, according to Florida Realtors. The state association also reported a 45 percent increase in last month’s statewide sales of existing condos compared to the previous year’s sales figure.
“For a year now, statewide sales of existing single-family homes in Florida have increased each month compared to the year-ago figures,” says 2009 Florida Realtors® President Cynthia Shelton, CCIM, CRE, a broker and director of investment sales with Colliers Arnold in Orlando. (CCIM stands for Certified Commercial Investment Member and CRE is the Counselor of Real Estate designation). “This is encouraging news, and while it shows the beginnings of recovery, the housing market still needs time to continue its gradual absorption of housing inventory that will help stabilize home prices. That is why it is critical for Congress to extend the first-time homebuyer tax credit into 2010. And, because it’s now taking longer to finalize a home sale, first-time buyers who want to take advantage of the $8,000 federal tax credit need to act quickly, or they may miss the closing deadline of Nov. 30, 2009.”
Signs point toward continued positive momentum in the housing sector, according to NAR’s latest industry outlook. NAR Chief Economist Lawrence Yun predicts existing home sales will rise through the fourth quarter. “Unless the tax credit is extended, no one should be surprised to see home sales drop in the first quarter of next year,” he said. “However, the fundamentals of the housing market and the economy are trending up, and we expect home sales to generally pick up in the second quarter of 2010. The buyer psychology may be shifting from, ‘Why buy now when I can purchase later,’ to ‘I don’t want to miss out on a recovery.’”
Interest rates for a 30-year fixed-rate mortgage averaged 5.19 percent last month, down significantly from the average rate of 6.48 percent in August 2008, according to Freddie Mac. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
© 2009 Florida Realtors®
Read the entire report at http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=223958
Wednesday, September 9, 2009
ATTN: Investors, 1st Time Buyers - Great Deal!
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Tuesday, August 25, 2009
$8000 Tax Credit for First Time Buyers May be Extended!
According to the Washington Post, Bills to extend the maximum $8,000 tax credit for first-time homebuyers are pending in both the U.S. House and the Senate. The credit currently is set to expire on November 30, 2009.
Sen. Christopher J. Dodd, a Connecticut Democrat and chairman of the Senate Banking, Housing, and Urban Affairs Committee, is co-sponsor of a bill with Georgia Republican Sen. Johnny Isakson that would raise the credit amount to a maximum of $15,000. Observers do not think that it is likely that the amount will be increased.
Senate Majority Leader Harry M. Reid of Nevada favors an extension of the current credit. He was quoted by the Las Vegas Sun saying, “It’s something we can get done.”
While it is more likely that the credit will be extended, and perhaps even expanded to cover all buyers, not just first-time buyers, there is no reason to wait!
Prices are currently low, low, low, and mortgage rates are still very reasonable. With home sales up for 11 months in a row over the previous year, it is only a matter of time before the lowest priced inventory is cleared out and prices start to rise.
So take advantage of the tax credit, low prices, and low interest rates now to find the best deal possible.
Contact me by phone or email to discuss your purchase (or listing!) options.
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Sen. Christopher J. Dodd, a Connecticut Democrat and chairman of the Senate Banking, Housing, and Urban Affairs Committee, is co-sponsor of a bill with Georgia Republican Sen. Johnny Isakson that would raise the credit amount to a maximum of $15,000. Observers do not think that it is likely that the amount will be increased.
Senate Majority Leader Harry M. Reid of Nevada favors an extension of the current credit. He was quoted by the Las Vegas Sun saying, “It’s something we can get done.”
While it is more likely that the credit will be extended, and perhaps even expanded to cover all buyers, not just first-time buyers, there is no reason to wait!
Prices are currently low, low, low, and mortgage rates are still very reasonable. With home sales up for 11 months in a row over the previous year, it is only a matter of time before the lowest priced inventory is cleared out and prices start to rise.
So take advantage of the tax credit, low prices, and low interest rates now to find the best deal possible.
Contact me by phone or email to discuss your purchase (or listing!) options.
Saturday, August 22, 2009
Florida Home Sales up for 11th Consecutive Month!
Great news - the Florida Association of Realtors reports that existing home sales were up 37% for July 2009 versus July 2008, the 11th straight month of increased home sales versus one year ago.
“I think we’re on the road to recovery and even though most markets report they’ve seen the bottom, it’s going to be a long climb,” said Timothy Becker, the center’s director. He noted that the investment outlook for single-family development increased to its highest level since the survey began, with more respondents than ever believing it is a good time to buy.
Condo sales were also up, 48% versus July 2008.
"Historically low mortgage interest rates, affordable home prices and a large selection are encouraging buyers who’ve been on the sidelines,” said NAR Chief Economist Lawrence Yun. “Activity has been consistently much stronger for lower priced homes. We expect a gradual uptrend in sales to continue due to tax credit incentives and historically high affordability conditions.”
READ MORE
Coming on the heels of a report that new home sales are up for the fifth month in a row, 37% since the low point last winter, it is indeed looking like homes are once again moving off the market. Can price increases be far behind?
If you agree that it is a great time to buy, whether you are a first time buyer (better act fast for the $8000 tax credit deadline) or an investor or luxury home buyer, call me today! 305-984-0404. Why wait?
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“I think we’re on the road to recovery and even though most markets report they’ve seen the bottom, it’s going to be a long climb,” said Timothy Becker, the center’s director. He noted that the investment outlook for single-family development increased to its highest level since the survey began, with more respondents than ever believing it is a good time to buy.
Condo sales were also up, 48% versus July 2008.
"Historically low mortgage interest rates, affordable home prices and a large selection are encouraging buyers who’ve been on the sidelines,” said NAR Chief Economist Lawrence Yun. “Activity has been consistently much stronger for lower priced homes. We expect a gradual uptrend in sales to continue due to tax credit incentives and historically high affordability conditions.”
READ MORE
Coming on the heels of a report that new home sales are up for the fifth month in a row, 37% since the low point last winter, it is indeed looking like homes are once again moving off the market. Can price increases be far behind?
If you agree that it is a great time to buy, whether you are a first time buyer (better act fast for the $8000 tax credit deadline) or an investor or luxury home buyer, call me today! 305-984-0404. Why wait?
Tuesday, August 18, 2009
Should I Short Sale My House?
Congratulations readers! Today I announce a new opportunity to claim a free book, Should I Short Sale My House? I recently had the opportunity to co-author this book with other real estate experts and am pleased to provide free copies for my readers.
This high quality ebook answers all of your questions about short sales and who will benefit from listing a home for short sale.
Over 100 pages of information will assist you in your decision, with laws for each state included, as well as foreclosure information, alternatives for homeowners, and how to identify scams.
Simply email me at LisaMerrittRealtor@gmail.com with "Should I Short Sale" in the subject line to claim your free copy. (In the coming days, I will add a download link, but I didn't want to delay this offer.) There is absolutely no commitment necessary; this is a free service for my readers. And if you decide that listing for short sale is your best option, I would appreciate the opportunity to meet with you to offer my assistance with your listing.
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This high quality ebook answers all of your questions about short sales and who will benefit from listing a home for short sale.
Over 100 pages of information will assist you in your decision, with laws for each state included, as well as foreclosure information, alternatives for homeowners, and how to identify scams.
Simply email me at LisaMerrittRealtor@gmail.com with "Should I Short Sale" in the subject line to claim your free copy. (In the coming days, I will add a download link, but I didn't want to delay this offer.) There is absolutely no commitment necessary; this is a free service for my readers. And if you decide that listing for short sale is your best option, I would appreciate the opportunity to meet with you to offer my assistance with your listing.
Tuesday, August 11, 2009
Foreclosure properties drying up
A new report by CNN.com verifies what we Realtors are seeing out in the field - the number of foreclosure properties being listed for sale are greatly reduced from one year ago. With buyers eager for foreclosure deals, many forclosures go under contract same day - for full or over full price!
The savvy buyer needs to look for properties that have real value regardless of whether it is a foreclosure listing or not. Many foreclosures have been stripped of all appliances and damaged by previous inhabitants, so they may not be the best deal after all. Homeowners now are pricing their homes to be competitive with foreclosures and short sales, even if it is a good sale.
The best thing a buyer can do now is to work with a Realtor who knows the area and can give an accurate assessment of the property value. That goes for sellers too - it is important to list with an agent who can price your property to sell in the current market.
Call me at 305-984-0404 for a free market analysis of your property or proposed purchase.
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The savvy buyer needs to look for properties that have real value regardless of whether it is a foreclosure listing or not. Many foreclosures have been stripped of all appliances and damaged by previous inhabitants, so they may not be the best deal after all. Homeowners now are pricing their homes to be competitive with foreclosures and short sales, even if it is a good sale.
The best thing a buyer can do now is to work with a Realtor who knows the area and can give an accurate assessment of the property value. That goes for sellers too - it is important to list with an agent who can price your property to sell in the current market.
Call me at 305-984-0404 for a free market analysis of your property or proposed purchase.
Tuesday, July 21, 2009
Virtual Staging helps sell foreclosures, vacant homes
Here is one in the why didn't I think of that category. New companies are springing up all over the internet offering a service called virtual staging. That's right - just email photos of the vacant rooms to one of the services, and they will digitally add furniture, art, plants, dishes, everything to make your home look like it was staged by a professional designer.
This relatively inexpensive alternative to traditional staging is helping to sell vacant foreclosures and helping homeowners with little capital to redecorate. Just Google "virtual staging" and several companies come up. Check out their gallery photos and you'll be impressed, although one of the galleries I looked at used the same strange curtains in every room.
If you have a vacant home or investment property that you'd like to list with me, I'll be glad to investigate this service on your behalf. Just email or give me a call to go over this and other technology options I use for selling listings.
This relatively inexpensive alternative to traditional staging is helping to sell vacant foreclosures and helping homeowners with little capital to redecorate. Just Google "virtual staging" and several companies come up. Check out their gallery photos and you'll be impressed, although one of the galleries I looked at used the same strange curtains in every room.
If you have a vacant home or investment property that you'd like to list with me, I'll be glad to investigate this service on your behalf. Just email or give me a call to go over this and other technology options I use for selling listings.
Monday, July 20, 2009
Another Benefit for Home Sellers
By now, every Realtor should realize the importance of using the Internet, in as many ways as possible, for publicizing listings. It is known that 81% of homebuyers start their search on the web, and in my experience, most buyers who work with a Realtor use the internet for information on neighborhoods, school districts, and transit routes.
For my listings, I used the internet extensively, and I've just added this new benefit - auto posting through Posterous.com. It is preposterously simple, preposterously useful , and - ok, sorry, I'm sure you get the picture by now. I just write my posts in an email to my posterous account, and it automatically distributes it to my blog, my FaceBook account, and my Twitter account. Pictures are posted to Flickr, videos to YouTube and Vimeo - incredibly easy to use, all bringing your listing greater publicity, quickly and easily. Plus, posterous.com is adding new utilities all the time.
In addition to the benefits of tweetlister, postlets, and other internet exposure utilities, your listings receive great exposure to as many buyers as possible. I look forward to working with you.
For my listings, I used the internet extensively, and I've just added this new benefit - auto posting through Posterous.com. It is preposterously simple, preposterously useful , and - ok, sorry, I'm sure you get the picture by now. I just write my posts in an email to my posterous account, and it automatically distributes it to my blog, my FaceBook account, and my Twitter account. Pictures are posted to Flickr, videos to YouTube and Vimeo - incredibly easy to use, all bringing your listing greater publicity, quickly and easily. Plus, posterous.com is adding new utilities all the time.
In addition to the benefits of tweetlister, postlets, and other internet exposure utilities, your listings receive great exposure to as many buyers as possible. I look forward to working with you.
Zemanta helped me add links & pictures to this email. It can do it for you too.
Sunday, July 19, 2009
My First Blog Post
Ok, so Google is taking over the world, and I'm trying out posterous. If this works, it is the most awesome, easy-to-use web app ever.
Thursday, July 16, 2009
Google amps up real estate listing competition
A recent Google announcement on their Lat Long Blog details the many ways that real estate has changed the process of searching for a new home - right from one's computer.
These many services go far beyond just searching the various listing services to find a new home. For instance, a prospective buyer can use Google Maps Street View to check out a neighborhood before ever driving to the home for sale. You can get driving directions from a variety of services. There is even a service called Transit that lets you figure out your new commute to work if you should buy. (I had never tried Transit myself, so I just routed my drive from home to the office, and it suggested a route I have never tried that will shave an estimated 5 minutes off of my drive.)
Add to this Google's recently enhanced map based search that incorporates listings from Google Base. Real Bird Blog gives a great discussion of how this will improve the user's search experience as well as what this might do to upset the balance among real estate listing sites.
What does this mean for you? For starters, if you are considering listing your property with a realtor, you'll want to make sure that your realtor includes listing your property on Google Base in your marketing strategy. For buyers, if you know the specific area where you want to live, you'll have a more comprehensive map-based search experience.
BTW, I do upload my listings to Google Base. As well as Postlets, which syndicates to the major sites, and craigslist, twitter, my blog, all as part of my comprehensive real estate internet marketing strategy.
To list with me, call me 305-984-0404.
Thanks!
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These many services go far beyond just searching the various listing services to find a new home. For instance, a prospective buyer can use Google Maps Street View to check out a neighborhood before ever driving to the home for sale. You can get driving directions from a variety of services. There is even a service called Transit that lets you figure out your new commute to work if you should buy. (I had never tried Transit myself, so I just routed my drive from home to the office, and it suggested a route I have never tried that will shave an estimated 5 minutes off of my drive.)
Add to this Google's recently enhanced map based search that incorporates listings from Google Base. Real Bird Blog gives a great discussion of how this will improve the user's search experience as well as what this might do to upset the balance among real estate listing sites.
What does this mean for you? For starters, if you are considering listing your property with a realtor, you'll want to make sure that your realtor includes listing your property on Google Base in your marketing strategy. For buyers, if you know the specific area where you want to live, you'll have a more comprehensive map-based search experience.
BTW, I do upload my listings to Google Base. As well as Postlets, which syndicates to the major sites, and craigslist, twitter, my blog, all as part of my comprehensive real estate internet marketing strategy.
To list with me, call me 305-984-0404.
Thanks!
Tuesday, July 14, 2009
Investor Property Mystery
What a strange market we have at the moment. Tenants refusing to allow access because they don't want to lose their rental, only to cause the owner to go into foreclosure. Investment properties that can't be shown, and realtors who don't want to be called. First time buyers scrambling to beat the Dec.1 deadline. Whew!
Ok, so if you happen to be an investor who likes a good mystery or who wants to take a gamble, here's a good one for you. An unapproved short sale of a 4-plex, in a great area, that is bringing in (according to the listing) over $3100 per month.
The list price has fallen in the year-plus that it has been on the market to $170,000. Talk about your cash flow property!
But the listing says Drive-by only. No access. Don't disturb tenants. Don't call listing agent, email offers. And of course there are no pictures on the listing
The property is in Lis Pending, but does not match tax roll in current use (tax roll calls it a triplex).
But Google Maps shows a tidy, cute old-spanish with off-street parking.
Of course any offer would be subject to inspections, so it isn't such a gamble, and it might just be a great deal.
If you would like to consider this, or even a more traditional option, call me at 305-984-0404 today!
Thanks
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Ok, so if you happen to be an investor who likes a good mystery or who wants to take a gamble, here's a good one for you. An unapproved short sale of a 4-plex, in a great area, that is bringing in (according to the listing) over $3100 per month.
The list price has fallen in the year-plus that it has been on the market to $170,000. Talk about your cash flow property!
But the listing says Drive-by only. No access. Don't disturb tenants. Don't call listing agent, email offers. And of course there are no pictures on the listing
The property is in Lis Pending, but does not match tax roll in current use (tax roll calls it a triplex).
But Google Maps shows a tidy, cute old-spanish with off-street parking.
Of course any offer would be subject to inspections, so it isn't such a gamble, and it might just be a great deal.
If you would like to consider this, or even a more traditional option, call me at 305-984-0404 today!
Thanks
Friday, July 10, 2009
First time buyers - Don't Miss Out!
ATTN: If you are a first time homebuyer counting on the $8000 tax return and you still haven't found a property, what are you waiting for?
You have to close on a property - that is close, not contract - by December 1, 2009 to qualify for the $8000.
So, working backwards, you'd need to be under contract for a straight sale by October 1 to ensure that you have plenty of time to close. Remember, mortgage brokers and title companies are going to be swamped with closings in November, so you don't want to get held up by being last in line. You'd also need to begin negotiations by mid September to have time for counter offers.
If it is a short sale situation, especially an unapproved short sale, you'd need to be under contract by August 1 to allow 120 days. You need to be looking and making offers NOW.
Say you haven't found the perfect place. Could part of that $8000 help you make it the perfect place? $8000 can go a long way towards kitchen appliances, or tile, or paint, or landscaping...
Don't miss out on homeownership! Don't forget that a single family home includes a condo, townhouse, house, duplex, triplex, or fourplex.
Call me today - our office just listed a perfect duplex and fourplex in great condition. Take advantage of the rental units to live mortgage free and pocket your $8000 tax credit. 305-984-0404.
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You have to close on a property - that is close, not contract - by December 1, 2009 to qualify for the $8000.
So, working backwards, you'd need to be under contract for a straight sale by October 1 to ensure that you have plenty of time to close. Remember, mortgage brokers and title companies are going to be swamped with closings in November, so you don't want to get held up by being last in line. You'd also need to begin negotiations by mid September to have time for counter offers.
If it is a short sale situation, especially an unapproved short sale, you'd need to be under contract by August 1 to allow 120 days. You need to be looking and making offers NOW.
Say you haven't found the perfect place. Could part of that $8000 help you make it the perfect place? $8000 can go a long way towards kitchen appliances, or tile, or paint, or landscaping...
Don't miss out on homeownership! Don't forget that a single family home includes a condo, townhouse, house, duplex, triplex, or fourplex.
Call me today - our office just listed a perfect duplex and fourplex in great condition. Take advantage of the rental units to live mortgage free and pocket your $8000 tax credit. 305-984-0404.
Wednesday, July 1, 2009
Great Refi News!
The affordable refinance program has been expanded to help more homeowners keep their homes!
Homeowners who are upside down up to 125% on their mortgage can refinance if they are current on payments and the loan is guaranteed or owned by Fannie Mae or Freddie Mac.
This is an increase from 105% for the Obama administrations Home Affordable Refinance Program. Good news for homeowners, especially in areas like Miami where values have fallen rapidly.
Hopefully, this will help to stabilize real estate prices by allowing more homeowners to avoid foreclosure.
If you are in the position to buy, this might mean the bottom is near. What are the signs of bottoming out? I'd like your comments. From what I've been seeing, the best deals are going into bidding wars, meaning homes are selling for higher than list prices. If more homeowners are able to keep their homes through refinancing, then there will be less supply on the market. It might be turning around!
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Homeowners who are upside down up to 125% on their mortgage can refinance if they are current on payments and the loan is guaranteed or owned by Fannie Mae or Freddie Mac.
This is an increase from 105% for the Obama administrations Home Affordable Refinance Program. Good news for homeowners, especially in areas like Miami where values have fallen rapidly.
Hopefully, this will help to stabilize real estate prices by allowing more homeowners to avoid foreclosure.
If you are in the position to buy, this might mean the bottom is near. What are the signs of bottoming out? I'd like your comments. From what I've been seeing, the best deals are going into bidding wars, meaning homes are selling for higher than list prices. If more homeowners are able to keep their homes through refinancing, then there will be less supply on the market. It might be turning around!
Friday, June 26, 2009
Charming, Historic Coral Gables - plus income!
Historic 3/2 Old Spanish main house plus detached efficiency in the heart of Coral Gables, qualifies for Historical Signifigance, walking distance to shops and restaurants.
This beautiful property, on a 6150 square foot lot, is being sold for less than land value!
Currently rented for $3,000 per month, tenants will stay or move.
At $649,000, this is a bargain for the project-oriented owner with vision. Many possibilities for this unique home of character.
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Thursday, June 25, 2009
Shaq sells Star Island Manse!
Who says that there are no good deals in the world of Luxury Property? Well, I guess it is relative! After four years on the market and after dropping from the highest list price of $35,000,000, Shaquille O'Neil's Star Island property was just sold for $16,000,000 (current list price was $22,500,000).
There are currently 67 single family properties for sale in Dade County with list prices higher than $10,000,000. However, in the past 90 days, only 3 such properties have sold. In case you are considering listing your luxury property for sale, let's take a look at some of the features of successful listings:
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There are currently 67 single family properties for sale in Dade County with list prices higher than $10,000,000. However, in the past 90 days, only 3 such properties have sold. In case you are considering listing your luxury property for sale, let's take a look at some of the features of successful listings:
- Extensive use of professional photography, especially of water views
- Aerial photos of property showing waterfrontage
- Virtual tours
- Designer furnishings/stagings
- Listed by agent teams
When I did a google search on the property names for the properties that had sold, most had multiple mentions (especiall Shaq's house). All had featured listings on their company website at least.
If you list with Simpson Associates, you will have the benefit of a boutique firm dedicated to the successful sale of the listing. We make extensive use of internet resources, including the latests options for interactive floor plan/tours. Our partnerships in the community include businesses that provide professional photography and staging services. We look forward to working with you.Tuesday, June 16, 2009
Incredible Pinecrest Foreclosure Deal!!!!
WHAT A DEAL!!!!
Incredible, spacious, 2 bedroom, 1 and a half bath condo in PINECREST - How much do you think???? Take a guess???
Only $99k. Buy today or it will be gone! Already foreclosed, no short sale hassle.
Low maintenance fee - only $231. Cash FLOW.
Call me - 305-984-0404 or email LisaMerrittRealtor@gmail.com. Or visit my website, www.MiamiFreeRealEstateInfo.com for lots of free information.
Monday, June 15, 2009
City of Miami program helps low-income buyers
If you are househunting for your first home in the City of Miami, have they got a deal for you! First time buyers who qualify can claim $50,000 - $88,000. No typos there. You have to take a workshop, fill out an application, and work with one of their approved mortgage lenders, but if you are a low-income buyer this can make your dream of homeownership come true!
Buyers make no payments on the portion of the money that comes from the City for as long as they live in the home. If you live in the home for 30 years, you never have to pay back the money! If you sell before 30 years, the City will receive a percentage of the profits from the sale. That's it!
Homes, condos, townhomes all are available now. Call me at 305-984-0404 or email LisaMerrittRealtor@gmail.com, and I'll be glad to work with you.
Another program helps Miami-Dade County homebuyers claim one of the County owned foreclosed properties, and with major lenders like Bank of America announcing that they are giving municipalities first shot at owning foreclosures, this program can help anyone in the County purchase a first home.
Call me today! What are you waiting for?
Buyers make no payments on the portion of the money that comes from the City for as long as they live in the home. If you live in the home for 30 years, you never have to pay back the money! If you sell before 30 years, the City will receive a percentage of the profits from the sale. That's it!
Homes, condos, townhomes all are available now. Call me at 305-984-0404 or email LisaMerrittRealtor@gmail.com, and I'll be glad to work with you.
Another program helps Miami-Dade County homebuyers claim one of the County owned foreclosed properties, and with major lenders like Bank of America announcing that they are giving municipalities first shot at owning foreclosures, this program can help anyone in the County purchase a first home.
Call me today! What are you waiting for?
Tuesday, June 9, 2009
TweetLister - List With Me for More Internet Coverage!
Just tried out TweetLister this morning for my new condo listing in Miami Beach, and I really love it! So easy to use, it distills all of your listing information into the required 140 characters via easy, pull down menus - even converting your listing URL into a tweet-friendly link.
But probably the best feature of TweetLister - you can schedule the frequency for tweeting your listing! Daily, every other day, once, and you can even pick the time of day to tweet the listing.
So if you list your property for sale with me, whether short sale, luxury, condo, or single family, you'll get the benefit of daily tweet listings in addition to the coverage already provided on Realtor.com, Trulia, Zillow, craigslist.......
What are you waiting for? Call me now for your free home valuation - 305-984-0404. Or visit www.miamifreerealestateinfo.com for more great free information for buyers and sellers.
But probably the best feature of TweetLister - you can schedule the frequency for tweeting your listing! Daily, every other day, once, and you can even pick the time of day to tweet the listing.
So if you list your property for sale with me, whether short sale, luxury, condo, or single family, you'll get the benefit of daily tweet listings in addition to the coverage already provided on Realtor.com, Trulia, Zillow, craigslist.......
What are you waiting for? Call me now for your free home valuation - 305-984-0404. Or visit www.miamifreerealestateinfo.com for more great free information for buyers and sellers.
Monday, June 8, 2009
Luxury REOs
Some of the best REO (foreclosure) deals on the market involve luxury homes in sought after neighborhoods. If you've ever wanted to get a great deal on a home with all of the luxury amenities inside and great benefits outside, including a large yard, great schools, quiet tree-lined neighborhood, now is the time to consider looking at homes that are are bank-owned but have great cache. These homes have already gone through the foreclosure process, no short-sale bank negotiations necessary, and are ready for your family.
Consider this great Pinecrest home with 7 bedrooms and 4 baths plus 2 half baths, over 6,000 square feet, on an acre with all Palmetto schools. This is a bargain at the current REO price.
Or how about a bargain home in the Coral Gables Country Club area -
Marble floors, many upgrades throughout, vacant and ready to move in! Foreclosure priced, won't last long.
Call me at 305-984-0404 to find your luxury REO home.
Have you visited my new website - www.miamifreerealestateinfo.com? Lots of great free info for every home buyer or seller!
Thursday, June 4, 2009
New Listing! South Beach condo
I have a new listing, a rare 1 br/1 1/2 bath condo - easily convertible to 2 br!- in a great boutique building in South Beach:
Custom built-in bookshelves, large walk-in closet, convection oven, jacuzzi
tub, assigned gated parking. Remodeled throughout with high-quality materials
and fixtures. Free Washer/Dryer shared with only 3 other units on floor, or
poss.space in unit. Gorgeous north city views from large balcony. Easy to show,
flexible month-to-month tenant. Perfect for 1st-time buyers, investors. Low
condo fee.
Every detail of this unit is top of the line, from the custom tile flooring to the pull out kitchen shelving to the light fixtures. A real bargain! Comparable unit in building listed for $330k!
Lovely north facing view of South Beach - you can even glimpse the Bay and the Ocean from the spacious balcony.
Call me at 305-984-0404 to show this gem.
Update for First Time Homebuyers
Monetize the $8000 investment tax credit 6/2/2009
HUD Secretary Shaun Donovan announced at NAR’s Real Estate Summit plans to allow consumers to monetize the first-time homebuyer tax credit and apply it to the purchase of a home. This past Friday, HUD made good on that promise, providing guidance to lenders regarding how they can enable buyers to use the credit to effectively buy-down their mortgage rate by giving them a larger downpayment. Here is how the program will work… The option is available on specific government loan products. Buyers must provide a downpayment of at least 3.5 percent, which can be a gift from a family member, employer or nonprofit, charitable organization. Lenders may then offer the monetized tax credit to supplement the initial downpayment and to pay for closing costs and interest rate buy downs.
HUD Secretary Shaun Donovan announced at NAR’s Real Estate Summit plans to allow consumers to monetize the first-time homebuyer tax credit and apply it to the purchase of a home. This past Friday, HUD made good on that promise, providing guidance to lenders regarding how they can enable buyers to use the credit to effectively buy-down their mortgage rate by giving them a larger downpayment. Here is how the program will work… The option is available on specific government loan products. Buyers must provide a downpayment of at least 3.5 percent, which can be a gift from a family member, employer or nonprofit, charitable organization. Lenders may then offer the monetized tax credit to supplement the initial downpayment and to pay for closing costs and interest rate buy downs.
Tuesday, June 2, 2009
What a deal in the Grove
Beautiful, right? and only $59,000! Maintenance fee only $258!
Call me at 305-984-0404 to buy this little gem.
Good location in Coconut Grove, close to shops and only 3 blocks from the Bay.
Great 1 bedroom for first time homebuyers or investors.
Not an REO, but priced like one. This one is too good to pass up!
Call or email today for this or other great deals in the Miami area.
Monday, June 1, 2009
Bank of America, Chinese Drywall update, Deals
News to start the week:
Bank of America has announced that it will streamline the process for municipalities to purchase REO properties held by BoA, effectively giving municipalities that are receiving federal neighborhood stabilization stimulus money a first shot at purchasing these properties in order to allow them to leverage grant money. These properties will be announced on a private website prior to being listed for sale on MLS systems, making it harder for investors and individual home buyers to purchase.
The Florida Association of Realtors has created a special addendum to offers for purchase to address the Chinese Drywall disaster. This addendum asks the builder to disclose knowledge of Chinese drywall and offers the buyer the opportunity to inspect for chinese drywall. Buyer beware!
Now for your deals:
A couple of great new short sales on the market in Kendale, both remodeled 4/2 pool homes:
Take your pick, or move with your best friends, in-laws, or kids! Call Lisa at 305-984-0404 today!
Sunday, May 31, 2009
Top Real Estate Listing Sites Worldwide
There is a great post over at Global Edge this morning discussing International Property Portals. This is really a must read for every home seller in South Florida.
When you list your property with a Realtor in South Florida, your listing will be posted automatically by our MLS system to Realtor.com, which ranks as the number one property portal on the internet in the world. Home buyers worldwide will be able to find your home with free internet searches.
But what about other property search portals? How many Realtors will post your listing on other popular sites? I use a posting service that automatically submits your listing to Zillow, Trulia, Homegain and even Craigslist - all included in your listing with me.
But I noticed in the list of the Top 100 portals a significant lack of portals that directly serve South America. In South Florida, it is essential to disseminate your listing information to investors coming from Central and South America, and I am working to find outlets to serve this population. I have recently signed up with a service that translates the site into Spanish. Also, EscapeArtist.com serves the international community looking to make an international relocation.
I'd love to hear your comments and suggestions on this topic.
When you list your property with a Realtor in South Florida, your listing will be posted automatically by our MLS system to Realtor.com, which ranks as the number one property portal on the internet in the world. Home buyers worldwide will be able to find your home with free internet searches.
But what about other property search portals? How many Realtors will post your listing on other popular sites? I use a posting service that automatically submits your listing to Zillow, Trulia, Homegain and even Craigslist - all included in your listing with me.
But I noticed in the list of the Top 100 portals a significant lack of portals that directly serve South America. In South Florida, it is essential to disseminate your listing information to investors coming from Central and South America, and I am working to find outlets to serve this population. I have recently signed up with a service that translates the site into Spanish. Also, EscapeArtist.com serves the international community looking to make an international relocation.
I'd love to hear your comments and suggestions on this topic.
Tuesday, May 26, 2009
It's good to be Hélio!
Congratulations to Coral Gables resident Hélio Castroneves, who captured his third win at the Indy 500 on Sunday. Castroneves held off second place finisher Dan Wheldon, Indy's 2005 winner, and Danica Patrick, who finished third, the best by a woman at Indianapolis.
I know that much of this blog is devoted to the first time homebuyer, but in honor of Castroneves and his expansive manse in Cocoplum, let's take a look today at some of the luxury homes on the market in Miami Dade.
For a mere $49,500,000 (not a typo) you too can own a breathtaking, one of a kind 8 bedroom, 11 bath bayfront estate:
Go ahead and indulge in the visual tour: http://photoplan.planomatic.com/viewer2.php?propertyTourID=3474
For the much more....accessible? $7.8 million, a lovely 7,443 square foot home on deep water access:
And just in case you think you can't get a fabulous foreclosure deal on a luxury home, check out this Pinecrest abode for merely $2.35 million:
Or this ocean access, no bridges, Coral Gables foreclosed home for only $1.2 million:
So whether you are a first time buyer or looking for your luxury family estate, call me at 305-984-0404 for your free consultation.
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