Noel's Blog

Are We At the Bottom Yet?

2008-08-09T08:22:35Z

Not by along shot. Anyone who believes otherwise either has their head in the sand or works for NAR! It is common knowledge that when it becomes cheaper to own than to rent, then we will see the beginings of a recovery. In my neck of the woods, we're not there yet.

Example: A 3 bed 2 bath home generally rents for between $1500 to $1800 per month in my area. That means a loan amount in the neighborhood of between $240,000 & $290,000. That's just for the loan now you have to factor in taxes, insurance and HOA fees. These three combined can cost close to $1,000 per month in my area, effectively lowering the buying power to between $80,000 and $120,000 in order to rent the property at market value and break even on a monthly basis. If you are putting 20% down then that would mean a sales price of between $100,000 & $150,000 would be required to make this deal work.

In South Florida I bought my 3/2 for $124,000 in 2001. I have said it in the past and i will go out on a limb to say it again, we will not see a rcovery until prices go back to 2001-2002 levels. Right now a 3/2 is still in the $190,000 to $220,000 range. So I expect price declines through the 3rd quarter of next year then a possible recovery will start to take place.

Another factor compounding this situation is that foreclosures have driven up HOA fees thus squeezing the profit margins even greater. When homeowners stop paying their mortgage, they also stop paying HOA fees and the rest of the community gets to foot the bill. The problem is not as prevalant in communities built and occupied before 2003, go figure.

To Pay or Not to Pay

2008-07-08T07:57:36Z

I have been coming across more and more homeowners who are in a quandary. They are not behind in their mortgage nor in any stage of foreclosure, yet they want to sell their home which has dropped in value and would end up being a short sale. Although more and more banks are accepting short sales that are not in default, it is hit or miss. An impending foreclosure really motivates the bank. The thought of yet another non-performing asset does not bode well with the balance sheet so the bank really doesn't want to become a homeowner.

So as a homeowner in this situation what are your options? Well for one keep paying as agreed and wait for the market to turn around. If that isn't an option because of an upcoming ARM reset, forced relocation, or other outside circumstance out of your control, then you have some tough choices to make. You have to look at your monthly expenses and arrange them according to priority and see if paying your mortgage makes logical and economical sense. For example if your refrigerator is empty and you have 1/4 tank of gas and your choice is pay your mortgage or eat and be able to get to work then the answer should be obvious.

I would never advise anyone to miss mortgage payments for the sole purpose of gaining leverage for negotiating a short sale. This is the same type of thinking that got us in this mess to begin with. There is nothing wrong with not paying your bills if you can't, it's using it as a strategy for some other reason is what I have a problem with.

Owners of investment property may have a tougher time but it really depends on the individuals financials. If he has a portfolio of investment properties and wants to short sell one because it is under performing, good luck. On the other hand, the small time investor with one or two properties may have a fighting chance if you present a good case.

Of course there are people in our business advising this type of behavior my only response to those who are thinking of it to speak with a competent attorney and/or accountant.

Your thoughts and comments are always appreciated.

Three Lakes Gem 14747 SW 132nd Ct 4/2.5

2008-06-11T12:03:40Z

Not a short sale. Lowest Price in the subdivision. Enjoy resort style living in this executive home. Fully tiled first floor with laminate wood flooring in the great room. Granite counter tops, upgraded cabinets, upgraded baths, meticulous landscape and patio. You must see to appreciate this exclusive gem located in the highly sought after community of Three Lakes which has one of the few lakes in Dade County that allows fully motorized boats and jet skies. Located on a modified cul-de-sac, corner lot, all for just $379,000 MLS ID D1280187

Virtual Tour

Three Lakes Virtual Tour

One Stop Shop

2008-06-01T20:48:34Z

The National Association of Realtors concluded a survey in which people looking for real estate services were asked if they had a choice, would they prefer to have all their services under one roof. Amazingly the response was in favor of having all their services handled at the same location by some of the same companies.

Being one to react to the demands of my clients, here is a list of my preferred business partners; my one stop shop so to speak. Be sure to mention me when you contact them.

Mortgage Consultation Services-State Lending Corporation
Benny Garcia
9835 Sunset Drive, Suite 108
Miami, FL. 33172

Direct: (305) 598-4433

Fax: (305) 598-7722
e-mail: Bennyg@bellsouth.net

Mortgage Services-Countrywide Home Loans
Roberto Riadigos

9130 S Dadeland Blvd #103

Miami, FL 33156

Direct: (305) 926-5431

E-fax: (866) 905-8296
e-mail: Roberto_Riadigos@Countrywide.com

Banking Services-Bank Atlantic
Nordis Forcade
11400 N. Kendall Dr.
Miami, FL 33176

Direct: (305)-596-6342
e-mail: Nforcade@BankAtlantic.com

Title Services-Mutual Trust Title
Miriam Gilmore
10743 SW 104th Street
Miami, FL 33176
Phone: (305)-275-9225
Fax:     (305)-274-0202
e-mail: info@mutualtrusttitle.com

Insurance Services-State Farm
Manny Morin
10511 N Kendall Dr, Suite C-101
Miami, FL 33176-1537
Phone: (305) 598-5821
Fax:    (305) 598-0418
e-mail: Manny@MannyMorin.com

Home Inspections-Cabal Inspection Services, Inc.
Ralph Cabal
P.O. Box 770991
Miami, FL. 33177
Phone: (305) 256-7369
Fax:    (305) 225-1659
e-mail: info@cabalinspections.com

Noel Padilla

It's A Down Market, What Down Market?

2008-05-25T13:12:25Z

I don't know about any other Realtors, but I have been keeping pretty busy. While most agents around the country are struggling, I am doing pretty well. Grant it this isn't 2005, but I'll take it. You see I recognized early on that we would be in this situation (somewhere around 2005) and that the only business closing would be distressed properties and homeowners who where highly motivated by some underlying factor, ie-job transfer, death in the family, inheritance, etc.

I chose to carve out my niche in distressed properties and the fruits of my labor over the past two years is finally paying off. People thought (and still do) I was crazy to "limit" myself to such a market. Now those people are calling up and begging me for information on how to handle a short sale listing they took on that they have no idea how to close.

It never ceases to amaze me that everyday I talk to agents who are broke and sitting on the sidelines waiting for good times to roll around again. I ask them how they are handling their short sales and I get the standard reply: "I don't take those listings" or "They cut your commission, I don't bother with them." Oh yeah, then give them to me because for the foreseeable future it's going to be the only game in town.

I don't want to brag but I have it down to a science. So much so I hired a team to help me handle the short sales. I have turned the negotiation process into a minor inconvenience. Typically after an offer is received and forwarded to the bank for approval, there is a 30-45 day waiting period. During this time I take advantage and get all the ducks in a row to be ready to close within two weeks of approval. So the sales cycle is only extended by a few weeks if you do this right.

The only thing I can say is I hope everyone else keeps turning away distressed listings, heck if you send me any I might even pay a referral fee. Did I mention that the agents sending me their business aren't even asking for referral fees. They feel sorry for me.

Noel Padilla

Title Company Tug Of War

2008-05-25T08:35:50Z

Usually whoever pays for the title search gets to choose the title company unless otherwise agreed upon. However, in effort to maintain control over the transaction sellers have been requiring buyers to use their title company. I have also seen banks feed the work to their subsidiaries by requesting or implying that the buyer must use their title company.

I like to use my preferred title company so I can maintain some sort of control over the transaction. After all guess who invest the most time in a transaction? That's right the agent. The agent may have driven these folks around for months before they found something they like or spend tons of money on marketing. Only to have the transaction in the hands of a stranger who really has no incentive than a pay day is nerve wracking. It's a bit different when you have developed a personal relationship with someone and they don't want to let you down. That's where you really work as a team and most of those transactions go smoothly.

Noel Padilla

REO requires prequalification with preferred lender

2008-05-25T08:15:33Z

Something I have been seeing more and more lately is sellers requiring the buyer to prequalify with their preferred lender as a condition to the offer, especially with REO (Bank Owned Properties) properties. The buyer is not required to use the lender but the seller wants the pre-qual letter to come from his lender.

This has caused some of my buyers to back out of a few deals because they thought the notion was ridiculous and a bit shady. No matter what you say to your buyers they will have heartache with this practice unless you can effectively convince them that this is not unusual and it is quite common when making an offer on an REO property.

The seller is trying to ensure that once an offer is made that it won't fall apart because of financing issues. We all know agents out there who will allow their clients to back out of deals with fictitious "no longer qualifies" letters because they found another property or the warm and fuzzies are over and they don't want to move forward anymore. These agents actually think they are doing a great service to their clients by allowing them to beat the system this way. This practice ruins the integrity of every transaction and is the reason why so many deals fall apart. Hence you wind up with sellers who want buyers to prequalify with their preferred lender.

There is really no harm in prequalifing your buyers with the sellers' preferred lender as long as a new credit report is not pulled. What I usually do is have the buyer take his prequal letter to the preferred lender along with any other documents they may request. Make it clear to your buyers not to allow the preferred lender to pull new credit. I also give the preferred lender a call to ensure this.

I hope I cleared some things up. I would hope that some lenders chime in to give their two cents.

Noel Padilla

What are your options?

2008-05-25T07:27:06Z

Usually when clients call me regarding my services, they have missed a few payments and they are in various states of the foreclosure process. I will try to explain what can be done to avoid foreclosure.

They are only a few options and here is a quick list:

1. Reinstatement-This where the homeowner reinstates the mortgage by paying up all missed payments and
fees and becomes current with the mortgage. After all the fees have been payed up then the homeowner can
    continue to pay the mortgage payments as they had.
2. Forbearance-More commonly known as a re-payment plan. Allows the homeowner to negotiate a re-payment
    of missed payments and fees to reinstate the mortgage.
3. Sell The Property-If there is equity in the property then the home can be sold and the foreclosure can be
   "cured" thus avoiding the foreclosure.
4. Rent The Property-The property can be rented however the mortgage must be made current. A rental
    agreement will not stop the foreclosure process.
5. Refinance-If the credit rating hasn't been too badly damaged, a refinance may help especially if the monthly
    payments can be reduced.
6. Deed-in-Lieu of Foreclosure-Commonly known as the friendly foreclosure. This involves for the bank to agree
    to foreclose and take the property back without the lengthy process. This is not recommended for properties
    with equity because the owner gives up the right to the property and any equity. This option is technically still a
    foreclosure and will show up as such on your credit report. Sometimes the bank will forgo any other recourse
    but that will also have to be negotiated.
7. Bankruptcy-Can not avoid the foreclosure but may allow the owner to reorganize debt. It rarely stops a
    foreclosure it usually only stalls it. Another drawback is that it makes it difficult to sell the property and almost
    impossible to negotiate with any third parties.
8. Short Sale-When the homeowner owes more than the property is worth, a sale can be negotiated and
    an approval obtained from the bank to accept an amount less than is owed.

Most of these options involve negotiation with the bank and a decent credit rating. If the credit has been affected already, then the only real option that can help is the short sale. In my experience when homeowners use the other options available, they wind up in the same predicament a fews months down the road because the underlying cause of their situation was never resolved.

Also important to note-they are only two things that follow you for the rest of your life, a felony conviction and a foreclosure. True after 10 years it will drop off your credit report, however almost every lending institution has the magic question-Have you ever had a foreclosure? If you've had one you must answer yes, answering no could be considered fraud and that would open you up to a host of other legal problems.

Noel Padilla

Noel Padilla, CDPE

2008-05-19T07:29:56Z

Back in March of 2007 I felt compelled to enter the foreclosure market because I quickly realized it would be the only market in my area and most of the country. I hate to say it but my predictions are coming to frutation and I am afraid this is only the beginning.

I have put together this blog to provide timely information that is interactive for the public to use without the pressures of a sales pitch. I provide real life solutions to difficult financial situations in regard to impending foreclosure or distressed property sales.

In the end, if you find yourself in one of these trying situations, you have to ask yourself one question-What options do I have for me and my family? If I have done my job providing concise accurate information, the answer should be pretty simple-contact a professional with the knowledge and resources to help you through these difficult times and provide the right solution for you and your family. This doesn't necessarily mean losing your home-you have options available to you.

Noel Padilla

What is a Certified Distressed Property Expert (CDPE)?

2008-05-19T07:28:20Z

Before we can define what a Certified Distressed Property Expert is, we need to define what a distressed property is. A property can become distressed for a variety of reasons but the most common is a foreclosure. Any situation that has caused a property owner to have difficulty making mortgage payments or even selling the property is said to be in a distressed state. Basically any property which has foreclosure looming.

Now that we have defined a distressed property, what is a Certified Distressed Property Expert (CDPE)? This is not only a designation earned by a licensed Realtor but it is also an acronym that signals to the public that the person displaying it has gone through extensive training to successfully mitigate a foreclosure. This can be done by negotiating mortgage terms, helping to negotiate a refinance or the most likely-help sell the property.

Sometimes these properties have lost significant value either by physical damage, changes in the zoning, lack of curb appeal or host of other factors one of which occurring today is market conditions. If the value of the property drops below what one could sell the property for then the property is said to be short and any sale would be considered a "Short Sale", which has become very common lately. Negotiating a short sale is where a CDPE really shines.

These transactions are extensively time consuming and tedious. They require diligent follow-up, tons of paperwork and detailed analysis. Not to mention all the work that goes into drafting market reports and gathering all the information to convince the bank to accept a sales amount that will net them less. Not an easy task. Some of these sales can take anywhere from 3 to 12 months to close, depending on the complexity of the transaction.

All this is done in addition to the normal marketing efforts required to sell the property. You can see why less than 1% of Realtors nationwide have the training and knowledge to successfully negotiate a short sale. I am one of those in the less than 1% that has dedicated my time, effort and finances to educate myself in this sector of the market.

In March of 2008 50% of all homes sold were in some sort of distressed state.......Half! If you have a distressed property you can't chance your home sale on someone who doesn't have the tools to get things done. This market is going to be here for sometime. Experts predict 2 to 3 years, I predict closer to 10 years which began in 2006 so we are 2 years in to the 10 year cycle.

Buyers are not immune to the phenomenon. They are getting great deals on these distressed properties but guess what, if they are dealing with someone who doesn't know the mechanics of a short sale, the deal will fall apart after waiting months. It is equally important to buyers and sellers of distressed property to use a person who can get these transactions to the closing table.

Noel Padilla

What is a Short Sale?

2008-05-19T07:26:55Z

The recent rave in the real estate community seems to be the infamous 'Short Sale'. I want to take a little time and briefly explain what a short sale is how it is being used in the real estate community to liquidate distressed properties.

A short sale is a phrase used to described a sale in which the cost of the product or service being sold is actually more than the sales price of the product or service in question. Another common term to describe a short sale is being 'upside down'. The term short sale has become synonymous with any real estate transaction where the lender is agreeing to accept an amount less than is owed. Short sale has other definitions in the financial sector such as when a financial instrument is sold before it is actually owned. There are other variations of the meaning of short sale but for our purposes we will only discuss real estate transactions.

Short Sale Process
In real estate, a short sale is a rather lengthy process in which an agreement is made between the bank and seller for the bank to accept a lesser amount than owed. The steps in the process are as follows.

1. The seller needs to be in a distressed state, most of the time the property is in foreclosure. If a homeowner is
    current on mortgage payments the bank will not approve a short sale. The loan is said to be 'performing'.

2. A lengthly package of documents needs to be assembled to prove to the bank that the seller can no longer
    make payments. Most of these documents are the same ones used to qualify for the loan. You are basically
    disqualifying the property owner. In addition to those financial documents a hardship letter needs to be
    drafted explaining what caused the financial hardship. Also market trend reports, recent sales, market
    analysis, news clippings and other information that can help the bank make a better determination as to why
    they should accept a short sale.

3. The property has to be put on the market for sale and one must show a concerted effort to sell the property at
    market value. There is misinformation out there where people believe the bank will accept any amount. This is
    not true. The bank will only accept market value whatever it may be. A detailed record of activity needs to be
    kept and submitted to the bank along with all the other documents.

4. Once a buyer is found, the purchase contract along with all the other documents is submitted to the bank for
    approval. Once approved the sales process is continued as any normal real estate transaction would.

Most homeowners don't know that the bank will pay almost all required fees and commissions to all parties on behalf of the seller. Essentially the homeowner walks away paying nothing. The exception being that the bank may require an appraisal in which case the homeowner might be asked to pay for it. Also important to note, in no case may the homeowner walk away with any proceeds from a short sale. In some extreme cases you may negotiate with the bank for the homeowner to receive a small amount (Usually no more than $1500) for moving expenses and help with rent. Again this is rare and not the norm.

Along with the steps above, diligent communication and follow-up is a must in order to successfully negotiate, process and close a short sale. The entire process can take anywhere from 6-12 months to complete. You can see why it is important to hire a competent Realtor with a knowledgeable team to expedite the process.

Noel Padilla

Foreclosure ABC's

2008-05-19T07:25:07Z

Foreclosure is the means that a bank has a legal right to take possession of a property if the mortgagor (owner) has failed to live up to the commitments as outlined in the mortgage agreement. Usually a missed payment will trigger this process.

Foreclosure in itself is pretty straight forward. The process doesn’t start until after the bank has failed to receive payment and has filed suit to foreclose. In <?xml:namespace prefix = st1 />Florida the legal term is Lis Pendens. Lis Pendens is the formal notice that starts the legal process. (Note: In Florida formal notice could mean a notice published in a newspaper-it doesn’t have to be actually served or given to the mortgagor in person.)

Once a Lis Pendens is filed, the mortgagor is required to appear in court to answer to the allegations in the suit. At this point, the mortgagor can ask the judge for an extension to buy time. Nowadays the extensions are being granted regularly. If the mortgagor didn’t respond to the suit at the initial hearing, a judgment against the mortgagor will be found and another date is set for a ‘foreclosure sale’ or auction of the property, typically 30 days after the judgment.

Florida laws allow the homeowner to redeem the property at any time before the auction date. This is known as the ‘Redemption Period’. After a certificate of sale is issued, the right to redemption is lost and the homeowner in effect no longer owns the property.

The entire process from the time the mortgagor missed the first payment to the time the property is actually sold at auction typically is 180 days. It is has been taking longer because the mortgage companies have been back logged from the recent rash of foreclosures. The timeline can be extended considerably by asking the court for extensions.

Noel Padilla

Deficiency Judgment

2008-05-19T07:23:26Z

The amount of money owed to a bank after a short sale can attempt to be recovered through a suit known as a deficiency judgment. Equally important to note, if the bank sells the property for less than what was owed or the foreclosure auction nets them less than what was owed they can also file a deficiency judgment against the former owner.

In terms of a deficiency judgment after foreclosure or short sale, the bank may be able to go after other assets, but any retirement funds the former homeowners have are generally protected. Especially if they invest their retirement savings in an IRA or through work in a 401(k), 403(b), then the bank can not try to seize any of these savings. However, if their retirement funds are "invested" in a second home or a other assets, then the bank may be able to to go after those assets. That is because specifically designated retirement accounts are protected from creditors, while assets simply invested in for the purpose of saving for retirement without the special designation are not protected.

In most cases, the lender rarely pursues the deficiency judgment. They may file suit so it appears on the former homeowners credit report, but little else after that. Mortgage companies know that people in foreclosure do not have the money to pay the monthly mortgage payment, let alone pay the entire foreclosure judgment or a deficiency judgment after foreclosure. Thus, it is just not worth the lenders' time to keep suing homeowners with no expectation of ever collecting anything from the lawsuits.

A CDPE can negotiate with the bank to forgive the balance owed as the result of a short sale. Yet another reason to hire a competent Realtor with the CDPE designation.

Noel Padilla

3 bed 2 bath Townhouse in Villas at Carmel, Homestead

2008-03-19T18:50:49Z

Lowest Price in Carmel!

Virtual Tour

Offered at $120,000-This is a clean unit with fully tiled floors, carpeted bedrooms and knock down walls. The kitchen includes a glass top range and over the range microwave plus side by side refrigerator with through the door ice maker and water. Enjoy the huge community pool, exercise room and recreation room. The kids have their own children's pool and tot-lot adjacent to the main pool. Be sure to check out the community photos by clicking here.

The Crossings 2 bed 1.5 bath Condo Townhouse

2008-03-19T18:33:20Z

Unbelievable Community Amenities for only $198,000!

Virtual Tour

This Town Villa is priced to sell, check comparables. Known as the Salerno model when originally built by Arvida, the home has been updated, including new ceiling fixtures, AC unit less than a year old, the whole house has been tiled with ceramic tile over sound proofing. Enjoy all the amenities of a resort which includes: swimming pool, exercise/weight room, racquetball court, basketball court, tennis, walking distance to The Crossings Shopping Center. Folks you aren't buying a home you are buying a lifestyle! Check out the community amenities here.

Stem Cell Therapy for Children with Autism

2007-11-06T08:26:00Z

Some of you may or may not know that my youngest son has Autism. I write this blog from San Jose, Costa Rica where we are having our son undergo stem cell treatment for his condition. This is very new technology and there has only been one notable case that was profiled on a local network here: http://www1.wsvn.com/features/articles/medicalreports/MI62178 Be sure to watch the video linked at the top of the article. We will keep the AR community updated through this blog so as to track my son's progress and get the word out. This treatment is not approved in the U.S. and hopefully with enough pressure from the citizens of our great country, we can bring this ground breaking medical treatment to our children.

Miami-Golfers Paradise

2006-11-05T19:28:59Z

Golf and Park Directory:

South Miami - Dade Area

Welcome to the Golf and Park Directory. Please click on links below for details on Golf

Course or Park options in South Miami - Dade:

Miami-Dade Parks and Outdoor Recreation

Miami-Dade Parks and Recreation

For info on parks, beaches, marinas or any other form of outdoor recreation

Phone: (305) 775-7800

Golf Courses:

Killian Greens Golf Club

9980 SW 104th St, Miami, FL

(305) 271-0917

About the club

Year built:	1968
Designer:	N/A
Club type:	Public 18 Hole
Season:	Open all year
Guest Policy:	Open
Dress Code:	No tank tops or cutoffs
Metal Spikes:	Not Allowed
Fivesomes:	Allowed
Green Fees:	$13.00 - $32.00

About the course

This well-maintained course has narrow fairways that are flat and easy to walk. The greens are slightly sloped and firm, so holding your shots on the greens will be difficult at times. In addition, canals and lakes come into play on four holes. Twilight rates are available any day after 2 PM.

Greens:	Bermuda Grass
Fairways:	Bermuda Grass

Number of Sand Bunkers:	31-40
Water Hazards in Play:	No

Tees

Tee	Yardage	Rating	Slope	Par
Blue	6449	70.1	124	72
White	6102	68.4	119	72
Red	5417	0.0	0	72

Calusa Country Club

9400 SW 130th Ave, Miami, FL

(305) 386-5533

About the club

Year built:	1968
Designer:	Mark Mahannah
Club type:	Semi-private 18 Hole
Season:	Open all year
Guest Policy:	Open
Dress Code:	No denim, collared shirt and bermuda shorts required
Metal Spikes:	Allowed
Fivesomes:	Not Allowed
Green Fees:	$17.00 - $37.00

About the course

This is a somewhat, wide-open course because Hurricane Andrew ruined many of its trees. While the replanted trees grow in, the club is maintaining a defined cut of thick rough bordering the fairways. Many deep sand bunkers have been incorporated into the course design, and water hazards come into play on some holes. The large greens are undulating and fast, plus many of them are elevated and multi-tiered. The terrain is basically flat, but there are some mounds that can affect your shots. This course plays from 5,695 to 7,154-yards and there are four sets of tees to challenge all skill levels. For additional information call the pro shop at (305) 386-5533 or visit the club online at www.calusacountryclub.com.

Greens:	Bermuda Grass
Fairways:	Bermuda Grass

Number of Sand Bunkers:	51-60
Water Hazards in Play:	No

Tees

Tee	Yardage	Rating	Slope	Par
Black	7154	74.2	126	72
Blue	6846	71.9	120	72
White	6062	68.0	115	72
Red	5695	0.0	0	72

Miccosukee Golf Course

6401 Kendale Lakes Dr, Miami, FL

(305) 382-3930

Barracuda/Marlin/Dolphin-Courses

About the club

Year built:	1970
Designer:	Mark Mahannah
Club type:	Public 27-Hole
Season:	Open all year
Guest Policy:	Open
Dress Code:	No tank tops or cutoffs
Metal Spikes:	Not Allowed
Fivesomes:	Allowed
Green Fees:	$27.00 - $42.00

About the course

Formerly known as Miami National Golf Club, this facility has three individual nine hole courses that are played in three eighteen hole combinations. All the fairways are narrow due to an extremely thick cut of rough, however, there is only a scattering of trees that can affect your shots. Furthermore, the numerous sand bunkers on the course may cause problems for the average player, and water hazards come into play at every corner on all three courses. The terrain is fairly flat, but there is some slight mounding that can occasionally leave you with an uneven lie. The large greens are undulating, and fast. Many scenic views of the countryside can be seen throughout these courses. Golfers take note; the out-of bounds areas are either marked by white stakes or coral rocks. The Dolphin and Marlin courses have been the site of several LPGA Tour events, as well as numerous PGA qualifiers for the Doral-Ryder Open and Honda Classic.

Greens:	Bermuda Grass
Fairways:	Bermuda Grass

Number of Sand Bunkers:	31-40
Water Hazards in Play:	No

Tees

Tee	Yardage	Rating	Slope	Par
Blue	6719	73.6	132	72
White	6212	70.6	126	72
Red	5445	70.1	118	72

Briar Bay Golf Course

9373 SW 134th St, Miami, FL

(305) 235-6667

About the club

Year built:	1970
Designer:	N/A
Club type:	Public 9 Hole
Season:	Open all year
Guest Policy:	Open
Dress Code:	No tank tops or cutoffs
Metal Spikes:	Allowed
Fivesomes:	Allowed
Green Fees:	$8.00 - $13.00

About the course

This course has small, elevated, fast greens with fairways that are narrow and well bunkered. There is water that comes into play on several holes.

Greens:	Bent Grass
Fairways:	Bermuda Grass

Number of Sand Bunkers:	11-20
Water Hazards in Play:	No

Tees

Tee	Yardage	Rating	Slope	Par
Back Tees	3966	0.0	0	31
Forward Tees	2900	0.0	0	31

Palmetto Golf Course

9300 Coral Reef Dr, Palmetto Bay, FL

(305) 238-2922

About the club

Year built:	1960
Designer:	Dick Wilson
Club type:	Public
Season:	Open all year
Guest Policy:	Open
Dress Code:	No tank tops or cutoffs
Metal Spikes:	Allowed
Fivesomes:	Allowed
Green Fees:	$15.00 - $18.00

About the course

This course has water that comes into play on ten holes, including its signature hole, #3, a 435-yard, par 4. The course's designer, Dick Wilson, currently has four courses that host PGA TOUR events.

Greens:	Bermuda Grass
Fairways:	Bermuda Grass

Number of Sand Bunkers:	81-90
Water Hazards in Play:	No

Tees

Tee	Yardage	Rating	Slope	Par
Blue	6713	72.4	128	70
White	6220	70.4	123	70
Red	5725	72.6	125	70

October 2006 West Kendall Market Update

2006-10-31T12:07:02Z

This update includes the following communities:

33193
Kendall West, FL
33183
Kendale Lakes, FL
33196
The Hammocks, FL
33186
The Crossings, FL

Average Sales Price for Month of October 2006

Single Family Home 4 bed 2 baths Average 1975 sqft

$396,900

Town House 3 bed 2 bath Average 1597 sqft

$287,700

Condo 2 bed 2 bath Average 1053 sqft

$204,100

This Dirty Word Not Banned On Active Rain

2006-10-31T09:01:52Z

Ok here we go. I'm going to try and start some dialouge about one of the most controversial subjects in the world. That's right politics.....alright I said it , there. Here in Florida, we have major elections Tuesday. I need a little direction. I am a life long bleeding heart liberal democrat because I grew up not so well off and after that I got a job which required union membership. I still believe in government provided social services, but now that I am an independent contractor, seems like there's a conflict in my former political standing. I still believe the only way to keep America strong is by providing Americans good wages, good benefits and a safe environment to work in. With all the pressure to reduce costs, how do we accomplish this and remain competitive? If we can't fix the wage problem, how do Americans afford housing? I believe this is the reason the government loosened banking rules, so more people could afford homes (albeit temporarily), thus spurring the economy and housing boom. Where do we go from here, there's only so much that our investors can invest and save the economy. Somewhere down the line someone will have to buy these homes to live in. How can anyone afford these homes after being marked up by investors and the banking industry being forced to tighten the rules? Does anyone foresee another interest rate drop to make homes affordable?

Our political process will play a major role in deciding the future of our industry, especially in the short term. I am just looking for answers to these questions for guidance, plus I love hearing (reading in this case) others views.

Florida has a unique housing problem, skyrocketing insurance because of the busy hurricane season we've had. Another problem, which is probably a nation wide problem, is R.E. taxes.

Noel

Creative Marketing

2006-10-27T15:26:43Z

Okay so we all know the traditional marketing methods, but can anyone give a marketing tidbit and the results they had? Something not listed below. Also how about some new marketing ideas and feedback. I’ll start first, I have never seen it in my area but how about billboards (or similar) on garbage trucks? They spend most of their time in neighborhoods albeit at a time when no one should be home. What do you think?

Marketing Ideas already used:

Moving Trucks

Postcards

Print Ads

Benches

Billboards

Yard Signs

Personal Brochure

Reports

Websites

Business Cards

Blogs

E-mail

Did I miss anything?.......oh yeah I did Slogans

Noel Padilla

‘Doing Business Right’

Unsolicited Faxes

2006-10-26T19:48:45Z

Please, I don’t know how to put this or even start this thread. Maybe I just want to get the word out that sending unsolicited faxes is not good marketing! I received a fax from a Broker promoting some sort of open house in a subdivision I have listings in. It was one of those deals where she put together all the different services and was trying to put together some sort of package deal. Worse yet she wanted a 25% referral fee if the buyer was procured using this open house set up. She has been in business since 1993. I couldn’t believe it. Anyone ever have a similar experience, I’m talking post internet days not back when faxes were only found in the Pentagon.

Noel Padilla

'Doing Business Right'

Its All Alan Greenspan's Fault

2006-10-26T19:25:37Z

Ok I’ve had just about enough of this. This article in USA Today has just about pushed me over the edge. It’s no secret the housing market is in a long anticipated glut. The media is pulling no punches in helping cause widespread panic in the housing industry which brings me to my point.

In every financial market there is what is called a cycle. Every economist knows this and after a little self education, I have learned to accept this as a vital part of the capitalistic system we live in. What really drives me nuts is the perception that the rest of the country is full of a bunch of bumbling idiots. The powers that be want us to truly believe in our system and that the so called ‘cycle’ is business as usual. I would have accepted that if it wasn’t for Alan Greenspan. Watching him manipulate interest rates to curb inflation and actually fuel our real estate boom taught me a valuable lesson. Our governing bodies along with the media actually control the ‘cycle.’ How can I make these accusations you ask, easy what is the number one priority of this country? Freedom? Nah. Safety of our citizens? Nah. Democracy? Nah. How about to retain the title of richest country in the free world?

Case in point with every market condition someone stands to make money. In a recession who stands to make the most? That’s right those who have the most. Catch a cycle on the way down and you make the most money. Problem is most people catch the market on the way up, get greedy and stay in too long. People were made rich by investing and liquidating assets over an over again during the real estate upswing, which in turn helps the economy because more people have more to spend. Now those who stayed in too long are stuck with depreciating assets. If you have the resources (liquid cash) you might be able to ride it out, if not you have to settle for a loss. The bad times have to take place in order to have the good times.

Those who know enough about investing invest for long term. This protects against what is happening today in the real estate industry. Even if prices drop to 2001 levels will it really matter in 2027 if you still own the asset? The only real loss is an opportunity loss. You can’t lose any money if you haven’t sold anything. Depreciation, yes. Loss, no. If you believe in our great system then you know that what follows is a recovery period followed by, yep you guessed it, another run up. We probably won’t see another market like the one we were in, but I’ll take that old traditional appreciation of 6%-10% per year market any day. It’s more stable and easier to invest in and valuate real estate. It’s also easier to spot something that’s overpriced and avoid it altogether.

My advice is if you didn’t buy at an extreme bargain this past year then you might have to wait about another 18-24 months for things to stabilize. If you try selling now then you most undoubtedly will loose money. If bought at the beginning of the upswing and try selling now, understand that you lost opportunity and you still stand to make a profit if you sell now, just not as much if you would have sold last year. The amount of profit depends on the part of the country you’re in.

What I think slipped passed our great leaders, is that with the appreciation of home values comes higher tax bills and insurance rates. Then again, there’s money to be made writing new policies and collecting higher taxes. Will it ever end?

Noel Padilla

'Doing Business Right'

Two Good Reasons Why

2006-10-23T17:36:24Z

You probably have already noticed the two ribbons at the bottom of my web pages. One is pink and represents Breast Cancer awareness, the other is multicolored puzzle pieces and it represents Autism awareness.

The reason I support both these causes is because both have affected me personally. On May 10, 2002, my sister Evelyn Staunton lost her battle with breast cancer at the age of 34. She left behind a loving husband and at the time a two year old daughter, not to mention countless family and friends. I am not one to brag but her funeral procession took nearly a half an hour to pass through any given intersection. Needless to say she was a very likable woman.

Before that my beautiful wife had given birth to our youngest son Julian in 1997, who at the age of three was diagnosed with Autism. Julian is a smart boy with huge dreamy eyes that captivates many a woman. It's really tough for him because he does not talk, so it is hard for him communicate what he wants when he wants it. He gets really frustrated and usually lashes out at anyone or thing near him. Recently my oldest son Noel Jr. was diagnosed with a mild form of Autism known as Aspergers Syndrome.

If you can, please support these organizations.

http://www.autismspeaks.org

http://www.y-me.org

Best regards, your Realtor®,

Noel Padilla

'Doing Business Right'

Replacing A Wall Switch

2006-10-23T17:28:35Z

You can replace a nonfunctional light switch in a few minutes. But as with any electrical repairs, be sure to make safety your first concern.

Steps:

1. Turn off the power to the switch at the main circuit breaker or fuse box. Test by flipping the switch on to make sure the power is off. Tag the circuit box 'Man at Work' or something similar so no one mistakenly turns the power back on while you're working.

2. With a screwdriver, remove the two screws holding the cover plate and take the plate off. (The cover plate is the piece of metal or plastic covering the switch.)

3. Remove the two mounting screws holding the switch in place inside the electrical box.

4. Pull the switch out of the wall. The switch should come out a few inches, exposing the wires.

5. Remove the screws holding the two wires coming out of the wall to the switch, making sure to tag which wire came from which screw (they are usually color coded) with colored pens and tape.

6. Take the switch to the hardware store and get another one exactly like it. Ask a salesperson for help if necessary.

7. Take the new switch home and hold it up to the wall, right side up, so that the word 'off' appears when the switch is in the off position.

8. Attach the wires to the screws on the switch's back according to the tags you made earlier.

9. Secure the new switch in the box with mounting screws.

10. Replace the switch cover.

11. Turn the main power back on and test your work.

Tips:

Marking which wire came from which screw prevents wiring mixups in case you are unknowingly working with a three-way switch - a single light controlled from two locations.

You can purchase an inexpensive circuit tester at your local hardware store.

Warnings:

Working with electrical systems is potentially dangerous. If you're unsure of your abilities or of any aspect of the project, call an electrician.

Whenever you turn the circuit breaker off or on, use only one hand and look away from the breaker to reduce the risk of injury should the breaker blow.

Best regards, your Realtor®,

Noel Padilla

‘Doing Business Right’

First Newsletter

2006-10-23T17:06:11Z

For all my clients I automatically include them in my e-Newsletter. Below is the first newsletter I send, to be put on the mailing list simply fill out my Guest Book form Be sure to include your e-mail address.

This is the first in a series of newsletters that I hope will provide you with useful information. I have collected this information over years of trial and error (mostly error). After all why not learn from the mistakes of others, it's a lot cheaper! Hopefully you will learn everything from how to price your home right for a quick profitable sale, to fixing that clogged toilet (YUCK!).

The most valuable lesson I have learned is that you never stop learning. So if you have anything you would like covered or if you have some knowledge about a particular subject you want to pass along, please submit it to me via e-mail: Noel@NoelPadilla.com

Speaking of clogged toilets why not start there. To save download time I have not provided photos, however if you need me to walk you through the process, just pick up the phone and call me: 786-525-9729.

Tools

Crescent Wrench

Hack saw (Reciprocating saw better)

Utility Knife

Paper Towels

Supplies

Wax Ring Kit With Bolts

Replacement Bolt Caps (Color Match With Toilet)

Grout-8 Ounces (Color Match With Tile Or Toilet)

The following process should be undertaken if you have a suspicion that something is stuck in the toilets water trap. (That's the s-shape form visible on most toilets looking at the side of it. Its purpose is to trap water in it to prevent sewer gases from filing the room.) This is the area where most objects (tooth brushes, cell phones, small toys, etc.) get stuck and slows the toilet's flushing process sometimes to the point where it overflows. Most times the only way to remove these objects is to remove the toilet and flip it on its side to push or pull the object out.

The first step is to shut off the water supply to the toilet. The shut-off valve is usually located under the toilet tank at the wall. Turn it clockwise to shut off. Most of these valves are hard to turn because they haven't been used since the toilet was installed, if you break it you'll have to shut off the house's main water supply valve, then wait for my newsletter on how to change that:).

After shutting off the water, you will want to cut away any caulk that might have been used to seal around the toilet. Nowadays grout is used which breaks away easily. Flush the toilet to drain water from the tank, if this is not possible because of back-up then skip this step and have a mop and bucket handy. After draining the tank place a small bucket (For toilets that are too clogged to flush, use a LARGE bucket.) at the bottom of the tank where the water supply connects to the tank. Disconnect the water supply from the tank and drain excessive water into bucket. Then disconnect the water line from shut-off valve and place it aside for easier installation later.

Remove caps covering studs that hold down the toilet to the floor. These studs are brass so they should cut off fairly easy. Using a hack saw or reciprocating saw, cut these bolts off as close to the ceramic surface of the toilet as possible, cutting through the nuts if necessary. Be careful not to crack the ceramic. The toilet should now be free. If it is sticking, sit on it in customary fashion and hold on to where you are sitting, then rock side to side until it breaks free. Pick it up and take it some where you can place it on its side to drain (Usually the back yard where you can also hose it down.) and remove the object. The drain outlet of the toilet has a wax ring that can be pretty messy so don't sit the toilet down anywhere. Put a rag in the floor drain to prevent gases from filling the room, the gases are flammable and nauseous. Carefully inspect the floor drain for any damage, pay particular attention to the flange where the bolts fit in. They are often cracked on plastic flanges. Clean out the drain and the toilet flange of all old wax, use plenty of paper towels.

After cleaning up the mess and removing object in toilet, re-install toilet in reverse order. I like to pour a bucket of water down the drain to ensure that the line is not clogged and that the toilet blockage is what was causing my problems. Plus if the line is clogged, it is easier for the plumber to clean out with the toilet off.

Take the water supply line you set aside earlier and re-install it to the toilet tank first. Install a new wax ring on the drain in the floor. Slide bolts into flange and center them in keyholes. Carefully set toilet back on wax ring, lining up bolts with the toilet's ceramic flanges. Sit on toilet and gently rock it into place. Bolt down toilet slowly, do not over tighten (You may crack ceramic flange if it is too tight). Tighten each side equally and rock the toilet slightly to check for tightness. Sometimes toilet will continue to rock after it is tight, if that is the case loosen bolts slightly and place pennies under toilet to eliminate rocking. The pennies act as spacers and do not corrode easily. If you are satisfied that it is tight, attach water supply line to shut-off valve and turn on water. Check for leaks. Cut the end of the bolts off just above the nut and install plastic cap. The last step is to seal toilet to floor with grout. Work the grout in using your finger and making sure you cover all the way around the toilet. Clean the mess up, put the tools away and take a nap. You deserve it!

Best regards, your Realtor®,

Noel Padilla

'Doing Business Right'