Real Estate Love Letter

In a world where an ”XO” text message or Facebook relationship status change signifies deep emotion, the long-form love letter seems to be a dying art. So it is somewhat surprising that the seemingly cut-and-dry, numbers-and-negotiation-riddled realm of real estate is one of the last bastions of the love letter.

Many agents advise both their buyers and sellers to keep a calm, cool and collected demeanor throughout the transaction, out of concern that demonstrating emotion will spark greedy sentiments and advantage-taking desires in the hearts of the folks on the other side of the table. And there’s truth in this: walking into a house and salivating is never advisable. But there are some times when putting your heart on your sleeve - and your pen to paper to express your love for a home you’re buying or selling - is just what your transaction needs to bring things together and get you the results you want.

1. Seller → Buyer: Video Love Letter. Your agent might be telling you that video is THE NEXT BIG THING in marketing a home. And you know what? They’re right. In a recent survey of house hunters, 70 percent cited “touring a certain home” as their reason for viewing videos in the course of their search for a home - and 86 percent said their purpose for watching a video was to learn about a particular area. Fifty-one percent of them pointed to YouTube as their primary video source.

Many home marketing videos are simple tours of the property. But what makes a video a love letter expressing why you love the house (and why a buyer will, too) is ensuring that the swoon-worthy features of the home actually make it into the video! If you have a delightful backyard, have the videographer shoot it alight at night, as well as during the day. If there are custom built-ins, high-end appliances or secret spaces with smart organizers inside - there should be shots of these things, rather than just a couple of broad sweeps of the camera across the room.

If your neighborhood is the epicenter for local shops, farmer’s markets and such, have the videographer incorporate and label shots of these things - ideally after the footage of the house - to paint the fuller picture for the viewer of the full experience of life in your home. If you’d like to do some sort of personal narration about how much you have loved living in this home, and expressing heartfelt best wishes for the next owner, that can be a nice touch - but keep it uber-short.

Work with your agent to be sure the YouTube description of your video includes a link to the home’s Trulia listing, and vice versa. Also make sure the name of your town, neighborhood and “home for sale” appear in the YouTube description of your video love letter about your home, to make it more likely that the right folks will find it when searching the web.

2. Buyer → Seller: Multiple Offers. So, you finally found the one. Perfect porch - swing included. Coffee shop downstairs in the building. Gingerbread-laden Victorian ready for fixing. Whatever floats your boat, as they say. The only thing is, there are about 5, 15 or 50 other people who think this property is their one - and all of them are making offers to buy it.

As a buyer, there’s no better time to write the seller a love letter about their home than when you are competing in earnest with other offers. (Logistically, this is something your agent will include when they submit your offer and loan approval documentation.)

In fact, the love letter should briefly explain why you like their home, but it should also go into more detail about your love for your family, your life, your career, your town, etc. and why you think their home is the perfect launching pad for the next stage of all of these relationships. It is not overkill to humanize yourself or your family by including a photo - pics of babies and dogs go over well, though some agents feel that photos can work against you in cases of an ornery or biased seller.

That said, it’s essential to think through the multiple offer love letter in the overall context of the fever-pitched negotiations. Will a love letter help you beat out offers of tens of thousands of dollars more than yours? No, it won’t - so it’s essential that even if you do write a love letter, you still make your most competitive offer, price-wise, in light of the comparables, your budget and your level of desire to secure the place.

So what, then, is the advantage you gain from writing a love letter? It might get you a counter-offer when you would normally have gotten an outright rejection. It might get you the leg up on a buyer offering the same amount of money, when the seller is already aware that that dollar is the most the place will appraise for (so countering for more is not a great option). And it might get you some seller graces and above-and-beyond cooperation later in the transaction, like furnishings thrown in or time extension requests granted, if you are the victorious winner. So, for something that costs nothing, it might just be worth it, even if the chances it will help you best a buyer offer thousands more than you are between slim and none.

3. Seller → Buyer: Written Home/Neighborhood Love Letter. It should be clear at this stage of the game that your house will need to speak for itself - it’s location, condition, price and even staging create a holistic package that buyers will scrutinize in evaluating whether or not it’s a love match. But when you have a beautiful home in a fantastic neighborhood, it can still be a powerful thing to have a love letter about your home and neighborhood, with a few other extras, sitting in a binder on your counter.

Buyers fantasize about how happy their families are and will be in the property - so letting them know about the years of joy your family has experienced there only adds to the good vibes.

Buyers might not know all the charming, fun or convenient amenities your neighborhood has to offer. I have lived and run in my neighborhood for almost four years, and just stumbled across a new secret staircase into the park by the lake last week! If your home is otherwise likely to be sought-after by hikers, dog-walkers, foodies or film buffs and your neighborhood has amazing offerings for those types of folks, say so in your love letter. I’ve seen an amazing binder filled with a family’s love letter about their home, their neighbors and their neighborhood, complete with a list of all their favorite neighborhood vendors, restaurants, the names and numbers of their housekeeper and gardener - and even some menus from the restaurants that deliver to the address!

Many listing agents are starting to include any pre-listing inspection reports and disclosures in a binder that remains in the property during showings, as well as being emailed to buyers’ brokers in digital format upon their request. These “disclosure packets,” which tend to increase the chances of getting an as-is offer up front, and reduce the chances that the buyer will try to renegotiate mid-stream, are a great spot to include your love letter and any supporting materials. If there’s something that needs major fixing in your home, and you want to explain anything about it, this might be a good place. If you’ve invested thousands in upgrading it, this is a good place to brief the buyer on that, too.

Work with your agent to create a strategy about what details to include, and make sure your agent signs off on the final version before you put it out for the world to see.

4. Buyer → Seller: Unlisted Home. Did you ever see the War of the Roses, with Michael Douglas, Kathleen Turner and Danny deVito? At the beginning of the Roses’ ill-fated marriage, they found a storybook home that wasn’t on the market by stalking it, writing a note to the seller and ultimately, being in the right place at the right time when the elderly seller passed away.

• This sort of thing does actually happen, on occasion, in real life - a buyer actively pursues a home that is not for sale, simply because they love it, and the seller agrees to sell. This is tricky territory, as often:
• buyers seeking an unlisted home can be seeking to get an infeasibly low price or seller-financed deal, which the seller has no reason to accept (i.e., before accepting a lowball offer, the seller would put it on the market)
• sellers simply have no interest in selling the place, or they would have it on the market
• some scam artists send seemingly handwritten letters to sellers en masse, making them skeptical of the occasional legitimate buyer who writes them a love letter
• sellers might have unrealistic expectations about what they should get for the home, or only be willing to sell for top dollar
• there are legal restrictions in some states on making proactive approaches to home sellers who are behind on their mortgage or in some state of foreclosure, which wanna-be buyers should take care to observe (a quick consult with your own broker or a real estate attorney is in order, before you send a seller a love letter on an unlisted home).

That said, if you’re looking for a very unusual type of property in a market where few are sold (e.g., an equestrian property near the city) or there are only a few homes in your area that fit your specifications, it’s not a bad idea to submit letters putting sellers on notice that you are interested in their property and would love to discuss buying it. If the seller does bite, you would be well-advised to bring a broker, attorney or title/escrow professional into the transaction to ensure that everyone’s rights are protected and responsibilities are met in the course of the transaction.
Source: Trulia

Buying in Miami

Sunny Miami Florida is without a doubt one of the hottest real estate markets in the world. Over the years, Miami has noticed a lot of changes in it’s real estate market. Miami Florida has always been known for it’s pristine beaches and activities, making it perfect for a vacation home or a permanent home for anyone wanting to live close to one of the best cities in the world.

In the past, Southern Florida was known to be a realtor’s dream of a real estate market with extremely explosive growth potential. During the beginning of the year 2000, Florida noticed some high rises in real estate. In most areas, including Sunny Isle Beach, the prices of real estate went up as much as 250% in some areas. This was a drastic change in price, making real estate in Florida very hard to afford.

This change in price let the world know that Florida was very sought after for real estate. Although the prices were very high, this also changed the entire economic structure throughout Florida, resulting in more businesses, work opportunities, and a lot more income. Even though it brought more opportunities, the economic growth also helped to make Florida a very expensive city to reside in.

Miami Florida is the second largest city in the state, making it a great choice for real estate. These days, the homes here aren’t very expensive. If you are interested in renting a home or apartment here, you may find it to be moderate to high priced. Miami has long been known for sunshine and fun, which is one of the reasons why so many people decide to purchase real estate there.

Although the past has noticed a lot of interest in real estate for Miami, the future will always be in question. Homes and housing units will always be built here, although real estate agents have found it increasingly difficult to sell homes. Even though some homes will sell a lot faster than others, there are some homes that remain on the market for months and months at a time.

As you may have guessed, Miami Florida has noticed a bit of a drop in real estate price and transactions over the years. Although past years have noticed Miami real estate to skyrocket in both price and appeal, the future makes many wonder. A lot of areas here are harder to sell now days, with many sellers having to lower their prices just to make a sell.

In the future, Miami real estate will continue to be popular, although the trend of high and low will always be there. Miami is still one of the best cities in the world to live in, no matter how much the real estate trend fluctuates.

Source: New Home Programs

Resolve to Buy

Realtor shares some information on making the house of your dreams a reality this year:

Is one of your New Year’s Resolutions to move into your own home in 2013? One of the keys to making the home-buying process easier and more understandable is planning. In doing so, you’ll be able to anticipate requests from lenders, lawyers and a host of other professionals. Furthermore, planning will help you discover valuable shortcuts in the home-buying process. Follow these steps to achieve your goal of home ownership in 2013.

Resolution #1: Decide What You Want
Let’s start with the fun part. The first step is to decide what you are looking for. You need to determine the what, where, and when of your purchase. What kind of house are you looking for? Where would you like to live? When would you like to buy? Spend a lot of time thinking about this, a new home is a serious commitment and you want to choose somewhere where you can happily live for several years.

It can be helpful to write down all the information you have gathered. Be sure to take note of other important factors such as whether or not you hope to expand your family or if you plan to remain at your job for a long period of time. Consider such things as pricing, location, size, amenities (extras such as a pool or extra-large kitchen) and design (one floor or two, colonial or modern, etc.). You may want to order your priorities so that you will be prepared to make difficult decisions quickly. If you can’t get a home at your price with all the features you want, then what features are most important? For instance, would you trade fewer bedrooms for a larger kitchen? How about a longer commute for a bigger lot and lower cost?

Resolution #2: Get Your Financial House in Order
Once you have an idea of what you are looking for it’s time to get realistic and determine what you can afford. How much do you have available for a down payment? What is your monthly budget for a mortgage payment? Do you have money for closing costs and taxes? Is your financial house in order? Few people can buy a home for cash. According to the National Association of REALTORS® (NAR), nearly nine out of 10 buyers finance their purchase, which means that virtually all buyers — especially first-time purchasers — required a loan. You should start the mortgage process before bidding on a home. By meeting with lenders — either online or face to face — and looking at loan options, you will find which programs best meet your needs and how much you can afford.

Resolution #3: Get Your Pre-Approval Before House Hunting
“Pre-approval” means you have met with a loan officer, your credit files have been reviewed and the loan officer believes you can readily qualify for a given loan amount with one or more specific mortgage programs. Based on this information, the lender will provide a pre-approval letter, which shows your borrowing power. You can visit as many lenders as you like and get several pre-approvals, but keep in mind that each one carries with it a new credit check, which will show up on future credit reports.

Although not a final loan commitment, the pre-approval letter can be shown to listing brokers when bidding on a home. It demonstrates your financial strength and shows that you have the ability to go through with a purchase. This information is important to owners since they do not want to accept an offer that is likely to fail because financing cannot be obtained. The loan officer will carefully review your financial situation, including your credit report and other information. The lender will then suggest programs which most-closely meet your needs.

Resolution #4: Find Your Realtor
Buying and selling real estate is a complex matter. At first it might seem that by checking local picture books or online sites you could quickly find the right home at the right price. But no two properties — even two identical models on the same street — are precisely and exactly alike. Homes differ and so do contract terms, financing options, inspection requirements and closing costs. In this maze of forms, financing, inspections, marketing, pricing and negotiating, it makes sense to work with professionals who know the community and much more.

Resolution #5: Find Your New Home 
Now we are back into the fun stuff. A home is more than just a collection of bedrooms and bathrooms. Several properties — each with four bedrooms, three baths, and the same price — may well represent radically different designs, commuting distances, lot sizes, tax costs, interior dimensions, and exterior finishes. Here’s where the information you gathered in Resolution #1 comes into play. You already know what you want.

Resolution #6: Understand Your Mortgage Options
Financing is routinely greater than the original purchase price of a home (after including interest and closing costs). Because financing is so important, buyers should have as much information as possible regarding mortgage options and costs.

How much down? Loans with 5 percent down or less are available — in fact, loans from major lenders with no money down have appeared in recent years. If you place less than 20 percent down, lenders will want the mortgage guaranteed by an outside third party such as the Veterans Administration (VA), the Federal Housing Administration (FHA) or a private mortgage insurer (PMI, or private mortgage insurance, is required by lender to protect against any mortgage defaults).

The best rates and terms are only available to those with solid credit. To get the best loans, make a point of paying credit cards, installment payments, rent and mortgage bills in full and on time.To obtain a loan you must complete a written loan application and provide supporting documentation. Specific documents include recent pay stubs, rental checks and tax returns for the past two or three years if you are self-employed. During the pre-qualification procedure, the loan officer will describe the type of paperwork required. Mortgage financing can be obtained from mortgage bankers, mortgage brokers, savings and loan associations, mutual savings banks, commercial banks, credit unions, and insurance companies.

Resolution #7: Make An Offer
Once you have found a home you want to make an offer on you have three choices: accept the listed price and create a contract; reject it and not make an offer; or suggest different terms and make a counter-offer. If you choose this last option, the seller may accept, reject or make a counter-offer. You sometimes hear that the amount of your offer should be x percent below the seller’s asking price or y percent less than you’re really willing to pay. In practice, the offer depends on the basic laws of supply and demand: If many buyers are competing for homes, then sellers will likely get full-price offers and sometimes even more. If demand is weak, then offers below the asking price may be in order. The process of making offers varies around the country. In a typical situation, you will complete an offer that the Realtor will present to the owner and the owner’s representative.

A number of inspections are common in residential realty transactions. They include checks for termites, surveys to determine boundaries, appraisals to determine value for lenders, title reviews and structural inspections. During these examinations, an inspector comes to the property to determine if there are material physical defects and whether expensive repairs and replacements are likely to be required in the next few years. This is an opportunity to examine the property’s mechanics and structure, ask questions and learn far more about the property than is possible with an informal walk-through.

Resolution #8: Protect Yourself With Insurance
No one would drive a car without insurance, so it figures that no homeowner should be without insurance. Title insurance is purchased with a one-time fee at closing, title insurance protects owners in the event that title to the property is found to be invalid. Coverage includes “lenders” policies, which protect buyers up to the mortgage value of the property, and “owners” coverage, which protects owners up to the purchase price. In other words, “owners” coverage protects both the mortgage amount and the value of the down payment.

Homeowner’s insurance provides fire, theft and liability coverage. Homeowners’ policies are required by lenders and often cover a surprising number of items, including in some cases such personal property as wedding rings, furniture and home office equipment. In high-risk flood-prone areas, flood insurance may be required. This insurance is issued by the federal government and provides as much as $250,000 in coverage for a single-family home plus $100,000 for contents.

For new homes, home warranties bought from third parties by home builders are generally designed to provide several forms of protection: workmanship for the first year, mechanical problems such as plumbing and wiring for the first two years, and structural defects for up to 10 years. Home warranties for existing homes are typically one-year service agreements purchased by sellers. In the event of a covered defect or breakdown, the warranty firm will step in and make the repair or cover its cost.

Resolution #9: Close On Your New Home
The closing process, which in different parts of the country is also known as “settlement” or “escrow,” is increasingly computerized and automated. In many cases, buyers and sellers don’t need to attend a specific event; signed paperwork can be sent to the closing agent via overnight delivery.

Settlement is a brief process where all of the necessary paperwork needed to complete the transaction is signed. Title to the property is transferred from seller to buyer. The buyer receives the keys and the seller receives payment for the home. From the amount credited to the seller, the closing agent subtracts money to pay off the existing mortgage and other transaction costs. Deeds, loan papers, and other documents are prepared, signed and filed with local property record offices.

Before closing, buyers typically have a final opportunity to walk through the property to assure that its condition has not materially changed since the sale agreement was signed. At closing itself, all papers have been prepared by closing agents, title companies, lenders and lawyers. This paperwork reflects the sale agreement and allows all parties to the transaction to verify their interests. For instance, buyers get the title to the property, lenders have their loans recorded in the public records and state governments collect their transfer taxes.

Resolution #10: Tie Up Loose Ends
You've done it. You've looked at properties, made an offer, obtained financing and gone to closing. What’s next?

Those papers you received at settlement are extremely valuable, so hold on to them! In the short-term they can help establish tax deductions for the year in which the property was purchased. In the future, such papers will be important for tax purposes when the property is sold, and in some cases, for calculating estate taxes.

Also at closing, determine the status of the utilities required by the home, items such as water, sewage, gas, electric and oil service. You want utility bills to be paid in full by owners as of closing and you also want services transferred to your name for billing. Usually such transfers can be done without turning off utilities. About two weeks after closing, contact your local property records office and confirm that your deed has been officially recorded. Such records are public notices that show your interest in the property.

When you move in, you may want to replace all locks just to be safe. Many owners make a photo or video record of the home and their possessions for insurance purposes and then keep the records in a safety deposit box. Your insurance provider can recommend what to photograph and how to secure it. You want to maintain fire, theft and liability insurance. As the value of your property increases such coverage should also rise.

Enjoy your home. Owning real estate involves contracts, loans, and taxes, but ultimately what’s most important is that home ownership should be a wonderful experience.

Free!

The use of a Realtor is absolutely free unless and until I find you the perfect property.
You get all this:

• every phone call I make on your behalf
• all my contacts in the field
• referrals to services you may need (plumbers, contractors, electricians, painters)
• rapport with other Realtors that speeds things along
• every email I send on your behalf
• every home visit we attend together
• my overseeing at walk through and inspection
• my advice on pricing, layout, and anything you might like

Try to get an attorney to spend 1 minute on the phone for free! You get all this from me and I don't take any payment until the process is complete. It's my pleasure to find you the perfect home. I'm so committed that you pay me at the end. Great, right?

A Smaller House

Tips for buying a smaller house that is more affordable:

Truth #1: Rising interest rates hurt more with a bigger, more expensive house. With gobs of people wondering how they’ll manage their whopper mortgages because of the spectre of rising interest rates, smaller is starting to look sweeter. We’re at the tail end of a generation-long cycle of declining interest rates, so people are thinking about how their increasing costs will squeeze their cash flows when they have to renew their mortgages at higher interest rates.

Truth #2: No down-payment mortgages are gone. They were stupid to begin with. They let people who had done no planning for home ownership into an arena many weren’t prepared for. They got eaten by the lions. If you can’t afford to save a downpayment, you likely can’t afford to be a homeowner.

Truth #3: Longer amortizations cost way more money. Choosing a 35-year amortization on a mortgage was the only way some people could afford the huge homes they were buying. The fact that they would end up paying almost three times the cost of the home after all was said and done seemed of little concern. With the shift to getting out of debt, which, please God, I hope is firmly taking hold, a 35 year mortgage is far less attractive to smart home buyers.

Truth #4: A home is a place to live, not a retirement savings account. The era of double-digit annual gains in home prices is gone. Tying up all your money in mortgage payments when you should be investing for retirement is far less attractive now. Buying smaller means more money for RRSPs, TFSA and unregistered investment portfolios.

Truth #5:  Smaller homes have lower carrying costs. It’s not just the mortgage. It’s the property taxes and insurance. It’s the utility bills and maintenance. And it’s all the stuff it takes to furnish a bigger home.  Spending less to keep your home all gussied up means more money for a life now, and a future.

Source: Gail Vaz-Oxlade

What Does a Home Inspection Entail?

There are four basic steps to the home inspection.

First, the inspector arrives at the property, makes general introductions and both explains what is going to take place and asks about any special questions or requests.

Next, while the inspection agreement is being reviewed, the inspector will make a quick circuit of the property to size up the scope of the inspection.

Then, there will be an in-depth walk-through inspection with the client. This involves inspecting all visible areas and reviewing all accessible items and areas, including the heating system, central air conditioning system, interior plumbing and electrical systems, the roof, attic space and all visible insulation, the walls,ceilings, floors, doors, windows, basement or crawlspace area, and the foundation and all visible structural components. Any questions or items of special interest regarding a particular system or structural component are usually addressed at this time.

Finally, a check of the entire property is made to verify that the condition of the property is the same as when the inspection started. After this last circuit, the inspector will complete the hard copy of the inspection report. All deficiencies and maintenance recommendations will be noted and a recap of deficiencies will be entered onto the summary sheet for the client.

Source: Active Rain

Prices on the Rise

South Florida’s housing market will continue to improve in 2012 as home prices rise 6 percent through the rest of the year, a California research firm says.

That forecast from Clear Capital would put Palm Beach, Broward and Miami-Dade counties among the 10 highest-performing large metro markets in the country.

Demand from foreign investors is slowly helping the South Florida market recover, said Alex Villacorta, director of analytics and research at Clear Capital of Truckee, Calif.

Less than a third of all home sales are from a lender. During the housing collapse, about 50 percent of sales involved a bank-owned home, Villacorta said.

Phoenix is projected to have the biggest increase in prices at 12.1 percent. Tampa is next at 11.4 percent and Orlando is third at 9 percent. South Florida is ranked sixth.

Despite the expected gains, prices in many of these hardest-hit markets remain more than 50 percent below peak levels, Clear Capital says. Prices in South Florida are off nearly 60 percent.

“All of these markets still have a long way to go,” Villacorta said.

The firm says its analysis is based on repeat sales of homes and condominiums.

Analysts agree that the South Florida housing market is slowly recovering, but some still expect prices to fall in 2012.

Moody’s Analytics of West Chester, Pa., says it could be 2013 before Palm Beach County hits bottom and 2014 for Broward County.

Many homes are stuck in the foreclosure process now but eventually will come on the market, said Chris Lafakis, an economist covering Florida for Moody’s.

“Banks have this inventory and once that inventory is liquidated, prices will fall,” Lafakis said.

Source: Sun-Sentinel

Multiple Home Ownership

In this down-turned economy, many houses have been foreclosed upon. If you are in the financial state where you can afford to buy homes at a very low cost and have them renovated to attractive status, you may consider what some buyers are doing.

When Vena Jones-Cox entered the foyer of the once-grand Colonial-style home in downtown Columbus, Ohio, she stepped onto a wood floor that was so moldy and mushy that it actually wiggled. As Cox proceeded down the basement stairs, they disappeared from underneath her.
"I found myself lying on the floor," says Jones-Cox, 45. "Staring at a dead rat, by the way."

The house tour from hell didn't stop her from making an offer on the place. While she was at it, she bid on some other houses, too. Forty nine houses, actually.

She's paying $3,000 for each, a bit more than the cost of an Apple Mac Pro. "We're at a bottom," says Jones-Cox. "I mean, where else is there to go but up?"

The idea is to arbitrage other people's misery. With the ranks of the rental class expected to swell, investors can buy houses at clearance sale prices, pour some money into repairs and then take advantage of the difference between their low cost of capital and the rent they receive. Often, they bank cash from day one.As the greatest real-estate fire sale in the history of the United States rages on, the bulk buy is the dead hot deal of the moment. In some of the most foreclosure-ravaged parts of the country, it is almost as if the housing market has become the new big box store, with investors wiping out whole shelves at a time.

"They aren't just buying one rental property," says Oak Park, Illinois realtor Kyra Pych. "This is a frenzy. They are loading up."

Source: MSNBC

Prices across markets

You know that buying a home in rural America is cheaper than buying a loft in New York City, but what does the same money really buy you?

In Wisconsin, a plot of land featuring a barn that has been converted into a three-story home and another barn that could serve as a garage.

In New York or Boston, a one-bedroom condo.

In Aventura, Florida, over a dozen residences came up in the search. The average condo had 2 bedrooms, 2 bathrooms, and all the swanky amenities you expect.

Source: Daily Caller and Zillow

2012 Housing Market Predictions

Patrick Newport, an economist with IHS Global Insight, expects prices nationwide to slide another 5 or 10 percent in 2012, as the foreclosure pipeline gets moving again, dumping distressed properties on the market. Foreclosed properties tend to sell at a discount of 20 to 30 percent, according to several studies.

Lower prices have left many homeowners (especially those who paid high prices at the market peak) owing more on their homes than the properties are worth.

Of course, the lower prices have also made it easier for buyers to afford homes. And once the foreclosure bottleneck is cleared, many low-priced properties will come onto the market, said Patrick O’Keefe, an economist with J.H. Cohn in Roseland, N.J.

“There will be a lot of opportunities for purchasers to get steeply discounted properties,” he said. He predicted prices will stabilize by the end of 2012.

Many buyers have held back because they think that home prices will keep dropping.

“Most people don’t want to buy in a market where prices are falling, because you lose your equity right off the bat,” Newport said.

Interest rates

Mortgage rates, which have been near record lows for several years, will remain below 5 percent, according to most forecasts. Along with lower home prices, the rock-bottom rates have made buying a home much more affordable.

Source: Nashua Telegraph

Sunny Isles

Sunny Isles, Florida, near Aventura, is considered Florida's Riviera. According to the city of Sunny Isles:

     Sunny Isles Beach, the City of Sun and Sea, is located on a barrier island in the northeast corner of Miami-Dade County, bounded by the Atlantic Ocean on the east and the Intracoastal Waterway on the west. Golden Beach lies to the north, Bal Harbour and Haulover Park are immediately to the south.
     Sunny Isles Beach is midway between downtown Miami and Fort Lauderdale with easy access to business centers, entertainment, sports and recreational facilities, and tourist attractions. Residents and visitors can fly into either Miami International or Fort Lauderdale/Hollywood International airports, or cruise into the Port of Miami or Port Everglades and be in Sunny Isles Beach within 20 to 30 minutes.
     Almost one million vacationers visit Sunny Isles Beach annually to enjoy the 2 ½ mile-long fine sand beach and outdoor amenities such as water sports, boating, fishing, and tennis as well as the abundant shopping, dining and entertainment options nearby. The landmark fishing pier is a local favorite while the beautiful Samson Oceanfront Park provides a children's play area and space to relax; meet friends and enjoy the sunrise.
     The City is experiencing a major redevelopment renaissance on the east side of Collins Avenue, the main thoroughfare. Zoning laws ensure that view corridors and beach access pathways will always offer residents a life with a view. To the west of Collins Avenue, the City is building parks, improving the infrastructure and laying the groundwork for future redevelopment.
     The emphasis of most of the redevelopment is on residential condominium construction. The City is steadily replacing outdated motels with luxury residential oceanfront development. Much of the residential construction is not for year-round occupancy, however the statistics show a steady growth in young families who desire to be near the ocean.

I specialize in houses in this area and would love to show you some property that may become your new home. Who knows, you may become Sunny Isles resident number 20,833!

All I Want for Christmas is a New House

Everyone wants a good deal, and a wonderful home. So how can you get both at once? Elizabeth Weintraub says those days may be fast approaching. 

When is the best time of the year to buy a home? There are at least two days of the year that give buyers the edge. Would you like to guess which two days are best for buying a home?
The best day of the year to buy a home is Christmas Day.
Almost nobody looks at homes on Christmas Day. But buying on Christmas Day is a smart move. If you scout out the homes on which you'd like to make offers a few days before Christmas, you'll be better positioned.
Why is Christmas Day so attractive?

• People are in good moods, celebrating, opening presents, enjoying family.

• People are more inclined to be generous, even if it means coming down on the price. "Hey, it's Christmas, hon; just sign it."

• Few buyers are out looking at homes during Christmas week, so the chance of multiple offers or any competition whatsoever is very low.

• Home prices are at a 12-month low in December.

• If a person has their home on the market over Christmas, that person is definitely serious about negotiating and selling that home. You can bet on it. Better yet, why not write an offer?

Of course, the key is to find a real estate agent who will a) work on Christmas and b) be aggressive enough to worm her way into the seller's home without batting an eyelash. Those agents are out there.

The second best day? Easter Sunday.

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