real estate: America's rents hit record highs
- 12/12/13 03:21 AM
America's rents hit record highs.
The foreclosure crisis has spawned a new and even more sinister monster in the housing market - skyrocketing rental prices. The 4.6 million foreclosures during the housing meltdown has added to the already burgeoning rental market, thus creating a shortage of rental housing and an increase in pricing.
There are now four million more renters today than there were in 2007. There are now 43 million rental households in the United States, or 35% of Americans are renters. As realtors it is our job to help people find adequate rental housing as well, but … (0 comments)
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real estate: Miami's skyline set to change forever
- 12/12/13 01:19 AM
Miami's skyline set to change forever.
With the onset of the new Miami World City Center in downtown Miami comes a real estate production unlike any other in the United States. Miami is converting its former downtown design district into a global design and fashion center featuring numerous public art museums, hotels, restaurants, condos, retail, and a convention center. The shear size of this place will overwhelm you as evidenced in this photo.
As you can see, the American Airlines Arena sits directly across from the center and steps from … (0 comments)
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real estate: Money laundering the catalyst behind Miami's booming condo rise
- 12/04/13 03:44 AM
Money laundering the catalyst behind Miami's booming condo rise.
Call me a cynic, but there is no other way to describe what is happening in downtown Miami today. I was led to believe, and part of me still does, that there are those in far away lands that are victims of politics and booming economics that come to Miami to buy condos as investments. Most notably these countries include Israel, Brazil, Venezuela, and Canada. The idea is that buyers in these economically sound countries want to take advantage of America's struggling economy and housing market.
But the cynic … (0 comments)
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real estate: How to calculate a net sheet
- 11/18/13 04:57 AM
How to calculate a net sheet. Most states differ in closing costs, but here is what I use for Florida.
Everyone who is selling thieir property should know in advance what their net profit is going to be after closing on their home. Calculating the figure is easier than you think too. Preparing a net sheet is paramount when I go out on a listing appointment. It can make a difference in whether or not someone is going to sell their home.
Simply deduct the following sample closing costs from your $350,000. sales price first:
1. Commission, $21,000.
2. … (0 comments)
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real estate: Why do builders in South Florida ask for such high deposits?
- 11/14/13 03:40 AM
Why do builders in South Florida ask for such high deposits?
Due to the recent housing bust where buyers were walking away from deposits at alarming rates builders in South Florida, especially new construction condos, are asking for higher deposits in order to insure they are able to complete what they started. This essentially means that if you do not have a large cash reserve to buy then you will be left out in the cold. It also explains why most buyers are foreigners. Will this help prevent another housing crash in South Florida? Only time will tell. However, taking large … (2 comments)
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real estate: The Ultimate Home Staging Technique
- 11/08/13 04:39 AM
The ultimate in home staging technique. This, as performed by Chevy Chase in the movie Funny Farm, is probably as over the top as one can get when it comes to staging your home for sale. In this case, Chase and his wife were desperate enough to bribe the entire town they were living in to participate. See it here and have a good Friday laugh.
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real estate: What's the Scariest Part of Being a Realtor?
- 10/31/13 02:25 AM
What's the scariest part of being a realtor? If you are in the business you already know the answer to this one. For the rest of us it's simply not knowing when your next check is coming in during downtime.
This business has so many highs and lows that eventually, if you hang in there long enough and become good at your craft, you learn to roll with it. After my fifteen years as a realtor I have come to learn that although it may not seem like it, there is always something lurking just around the bend. You just don't … (2 comments)
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real estate: Approved Short Sale Price Means Full Price
- 10/31/13 02:18 AM
Approved short sale price means full price. I just summed up an approved short sale in one sentence, but you would be surprised at how many buyers and their agents seem to think that these are like foreclosures and they can come in with a low ball offer.
When a bank approves a price that they are comfortable with accepting for a listing as a buyer you have to come up with that money or move on to an unappoved short sale. With those you can offer whatever you like, but beware of wasting a lot of your precious time … (0 comments)
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real estate: Miami Condo Boom and Bust is Cyclical
- 10/30/13 05:28 AM
I do not wish this on the city of Miami, but one has to wonder if the recent condo sale developments will change for the worst in the near future. Miami-Dade County foreign investors are probably living in a state of denial right now because they just keep on coming from as far away countries as Brazil and Venezuela to name a few.
Just a few years ago the city went through this same boom and bust cycle and it appears that nobody has learned a thing from it. The real estate market in the US, especially places like Miami, … (0 comments)
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real estate: Online Auctions Just Trying to Reinvent the Wheel
- 10/21/13 03:15 AM
Online auctions just trying to reinvent the wheel.
Why is is that every so often when the market starts to pick up again that some aggressive start up real estate company tries to reinvent the wheel? This time around it's online auctions. As if they did not already exist. Only in the past the auction has always been a source for the foreclosure community. Now some real estate companies are using the auction as a tool for selling traditional homes.
And the buyers market goes wild. They all look at this some creative new tool that will … (0 comments)
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real estate: Horoscope of a Purchase
- 10/15/13 03:54 AM
Horoscope of a Purchase
I wish I could take credit for this, but a realtor friend of mine actually wrote it and I have to share it.
Disclaimer: Each sign has its own characteristics, and at the time of the purchase of a home, they react in a singular form. Do you want to see how? There is nothing scientific here, but you can check it out. Aries - If an Aries is interested in an apartment, it does not save its compliments. And until he decides to buy, he puts everything aside to focus only … (3 comments)
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real estate: Grow Houses all the Rage in South Florida
- 10/11/13 03:25 AM
Grow houses all the rage in South Florida. If you have never seen or been in one either as a neighbor or realtor you are in for a real surprise. Since demand for marijuana is greater than ever criminals have come up with some very clever ways to get around the system.
Unlike California where growers simply hide in the woods and let their weed grow naturally, camoflauged by nature, South Florida resident drug dealers figured the best way to hide their stash is simply in a house. But not just any house. In the old days these guys … (1 comments)
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real estate: First its Zombies, Now its Vampires
- 10/08/13 04:11 AM
First its zombies, now its vampires in the real estate market.
Now we have to deal with vampires too? You may have heard of zombie real estate, those homes pertaining to the foreclosed persuasion just sitting there in perpetual anonymity waiting for the bank to release them from their "living" hell.
Vampires are of a different persuasion in the housing market as well as the movies. The name arises from the fact that vampires suck the lifeblood out of a housing market because they linger on forever with the current so called homeowners refusing to leave when they could just … (0 comments)
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real estate: Hiring a Realtor Drives Economic Recovery
- 10/08/13 02:56 AM
Hiring a realtor drives the economic recovery. Just take a look at realtors in Florida and beyond by the numbers. Let's face it, the real estate business really is just a numbers game, but so is the economy. As we have all learned from this recession housing truly does drive the economy for better or worse. Thus the reason for hiring a professional Realtor.
Florida alone carries the single largest number of realtors of any state. See table. By employing those 108,616 agents, or even just half of them because that is how many probably practice full-time, you as a … (0 comments)
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real estate: To List or Not to List a Terribly Overpriced Home
- 10/07/13 05:21 AM
To list or not to list a terribly overpriced home. That is not just a question for every realtor, but any seller debating whether or not to put their home on the market.
Accepting a listing that you know is overpriced can only lead to disaster for everyone involved, but especially the agent involved because he or she is the person putting in the most time and money. As a seller all you have to lose is time, which eventually will come back to haunt you.
Some take the listing for the advertising, knowing it is not going to … (2 comments)
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real estate: Read my latest real estate eNewsletter
- 09/27/13 10:05 AM
Read my latest real estate eNewsletter here! Always a great read for the public and realtors alike as it is packed with the latest national and local realty news. Copy this link in your browser to view and feel free to subscribe for free.
http://themorrismassre.housingtrendsenewsletter.com
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real estate: Just Because You Are a Lawyer Does Not Make You a Realtor
- 09/03/13 03:01 AM
Just because you are a lawyer does not make you a realtor. I say this with all do respect too. Stick to what you do best. I tried like hell to make an appointment today to view a short sale and called the so called listing agent because the phone number listed in the MLS for the owner was cut off. He probably typed in the number without looking at the screen when he ran out of characters. He had no idea what I was talking about.
I asked if he was the person listed in the MLS and he responded that … (0 comments)
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real estate: When it comes to choosing a Tenant it's Quality, not Quantity
- 08/21/13 03:57 AM
When it comes to choosing a tenant it's quality, not quantity. Jerry McGuire was right. I have a rental listing that I originally put in the MLS at $2000., market rate for Weston, Florida. Nobody made an offer except one deadbeat who never paid his bills. So I went to plan B and lowered the price to $1800., now the lowest priced single family home in Weston, and the phone rang off the hook.
Here is the kicker though. Even though I received multiple offers, all of the potential tenants had credit issues. And although I try not to … (0 comments)
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real estate: I've Been Published Again by Miami Agent Magazine!
- 08/15/13 01:42 AM
I've been published again by Miami Agent Magazine! This website is geared towards realtors seeking to improve themselves and learn more about the industry in their area. This particular site focuses on Miami, but there are several more around the country. This is not my first time as I am now a regular contributor. Feel free to check it out here and contact me with any questions.
http://miamiagentmagazine.com/the-social-media-websites-every-relevant-realtor-should-be-using/
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real estate: Spacious Silverlakes Home for Rent in Pembroke Pines
- 08/02/13 04:43 AM
Spacious Silverlakes home for rent in Pembroke Pines! This could be your backyard!
Offered at $2700. per month this lovely 4/3 home features a large, fenced-in backyard, laminate and carpet flooring throughout, huge loft area perfect for an office, separate laundry room, ground floor bedroom and bath, eat-in kitchen, and two car garage! Immeditate occupancy available. Call me to view or list your home today at 954-214-6014. I also offer property management services for absentee owners at discounted rates. Now is a good time to rent or sell, but if selling is … (0 comments)
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America's rents hit record highs. 
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