Deciding to purchase a home, for many, is the single most costly decision of their lives. Immediately followed by financing our children’s college education, perhaps? Therefore, such a decision is not one to take lightly. While we all know when it is time to buy (either you have outgrown your current home, looking to relocate, better […]
Florida is one of the very few states that does not tax its residents individually on their income and wages earned. It is only one in seven states that does not. This means that any resident in Florida will pay income tax to the IRS on income and wages earned, however, will not be doubly taxed […]
The Wall Street Journal has reported that the Rising Prices of Homes has drastically shrunk the ranks of Underwater Borrowers”. Source: The Wall Street Journal February 25, 2013. To read the full article click the following link: http://blogs.wsj.com/developments/2013/02/21/rising-prices-shrink-ranks-of-underwater-borrowers In fact, according to the Article, and citing from reports by Zillow, “around 2 million homeowners moved […]
It is estimated that 40 percent of loan modifications fail and the borrowers default the first time around. It is no surprise, as many are locked into a price that they can afford. However, due to the fact the Making Home Affordable HAMP Program obligates the borrowers to include escrows (taxes, insurance and PMI) in […]
As we South Floridians in the Gables, Pinecrest, Key Biscayne and surrounding areas enjoy a Seller’s market once again, it is important to know that research shows that the average homebuyer has already made their mind up about buying a particular home the second they see the house from the outside. “And by outside, I am […]
If you have not checked to see what your home is worth lately, you may be in for quite a surprise. Nationally, and statewide, property values are skyrocketing and the median prices of homes are rising in double digits, specially the South Florida luxury real estate market. The best way to determine the fair […]
I OFTEN HAVE PEOPLE CALL ME WHEN THEY ARE GOING TO PURCHASE A PROPERTY, AND ASK ME TO GIVE THEM AN ESTIMATE OF WHAT THEIR CLOSING COSTS ARE GOING TO BE. I HAVE HEARD OF REALTORS THAT CALCULATE IT USING A PERCENTAGE OF THE SALES/PURCHASE PRICE, AS DO SOME BANKERS. HOWEVER, THE EXACT AMOUNT IS […]
The South Florida Luxury Real Estate Market is in full swing again and for those purchasing waterfront homes, whether the prospective body of water has “bridges to bay” is of utmost importance. While many fail to consider this distinction, it is an important role for your real estate attorney or real estate agent to investigate […]
According to The Miami Herald, “Florida claimed first place in the nation in foreclosure activity in January – eclipsing much larger California, according to data in RealtyTrac.” – The Miami Herald, Thursday, February 14, 2013. The Realty Trac report shows: The Florida foreclosure rate ranked highest among the states for the fifth month in a row. […]
September 2012 saw the priciest home sale in Florida history, with the sale of 3 Indian Creek Drive at $45 Million. Few can believe that the Florida housing market is experiencing such a quick recovery and how rapidly it has turned into a Seller’s market again. But the proof is in the listings. Take for […]