miramar fl: Why scapegoat the appraisal? - 01/27/10 04:15 AM
Appraisals are killing real estate deals. This should come of surprise to no one. As a matter of fact, the appraisal has come up short on my last four transactions. It's quite common for appraisals to come in at $25000 below contact prices, or even more. Just this week I had a property appraise at $140,000 below the contract price! Needless to say, all parties are in shell shock. Yes, the listing agent, the seller, the buyer, and myself expected that we would come up short, and would have to then re negotiate. However, this is more then 100% off from … (0 comments)

miramar fl: According to Zillow - 12/22/09 05:52 AM
I'm presently in the process of helping a lender sell one of their properties.  We just received a very competitive offer from a ready willing and able buyer.  In the process of explaining the details of the offer to the bank rep, he proceeded to use three words that rip through my brain worse than fingernails on a chalkboard.................."According to Zillow!".  Yes, "according to Zillow this property is worth $70,000 more then this offer".  Needless to say, and as is quite ofter the case, Zillow is wrong. Now I can understand a laymen going to Zillow to get a clue about … (4 comments)

miramar fl: The FHA monkey wrench - 12/10/09 04:06 AM
The FHA monkey wrench
Generally speaking, the real estate industry is cautiously optimistic that we're presently at the beginning of a market recovery.  The signs of this recovery are primarily manifesting themselves in the entry-level sector of the market.  This is to be expected, as real estate markets tend to recover from the bottom up; today this is largely an FHA-loan fueled recovery.  So why then is the FHA looking to throw a monkey wrench in to the works?
I'm quite weary of the proposed changes to FHA loans for 2010.  Here are just a few:
•·         Minimum credit score of … (1 comments)

miramar fl: A flick of a switch - 12/02/09 04:06 AM
I currently have one of my listings under contract that is scheduled to close tomorrow.  This is a nearly new home.  To my surprise, I just got a call from the lender saying that they need to do a re appraisal because the initial appraisal report did not indicate whether the electricity was on at the time of the appraisal.  Now, I know it was, yet no matter my assurances, the lender said that the property would have to be re appraised.  In other words, the lender is going to pay an appraiser to come to the property tomorrow to flick … (2 comments)

miramar fl: do you have a closing today? - 11/19/09 12:04 PM
I try to make a conscious effort to dress professionally at every available opportunity.  After all, we're professionals and should dress accordingly.  I don't think anyone would argue that.  However, I've lost count of the number of times that one of my colleagues has asked me, "do you have a closing today?"  They see me wearing a suit and immediately assume that I have a closing on that day.  "So what?", you might ask.
Well, let's take a typical buyer transaction.  As is usual for me, I'm involve myself in every step of the process.  I meet the buyer (Bill), I show him properties, I write up offers, I go to the home … (2 comments)

miramar fl: I need I need I need... - 09/23/09 03:07 AM
The phrase "I need" seems to be popping up more and more in my recent conversations with would-be home sellers, and it usually rears its head particularly early in the conversation.  I think that many home owners want to make sure that I understand right from the get go what it is that they "need", monetarily speaking, that is, from the sale of their home.  It's perfectly normal for a seller to have expectations and subsequent plans for the proceeds from the sale of their home.  Quite often though, those "needs" are not necessarily in sync with what's actually achievable in the … (1 comments)

miramar fl: Social Networking Group - 09/11/09 02:22 AM
My broker has started a Social Networkng Group in our office.  I have been "voluteered" to run a host of monthly meetings so that our group members may share, interact, and learn from one another about what we're doing to create new business opportunities through the use of various social networking outlets.  We've gone through three meetings already, and I can see that my biggest challenge is simply keeping our members egaged and interested.  While they all may say that Social Networkng, blogging, and an active online presence may be the future of our industry, I don't think that they really beleive it.  More and more … (1 comments)

miramar fl: Why social media? - 08/20/09 05:37 AM
Participation in social media by real estate professionals is really in its infancy.  Relatively speaking, there are very few real estate professionals that are active bloggers or participants in social media circles for the express purpose of providing a public service.  I have no idea how many licensees there are in the United States, yet I'm sure that the 155,000 or so that are on Active Rain's network alone is but a minuscule drop in the bucket.  As a matter of fact, in my own office it's less then one percent.  I've only been blogging for six months or so, and I can honestly say that the … (0 comments)

miramar fl: Where are all the great deals? - 08/10/09 05:55 AM
It's happening as we speak.  All of those so called great deals on foreclosure properties are vanishing.  Here in South Florida, it's becoming very common for properties to sell at more then asking prices!  As fears over interest rate hikes, coupled with the awareness of the upcoming deadline for the $8000.00 tax credit loom near, properties are flying off the shelf at a speed that we haven't seen since the market boom. 
So take this as a word of warning.  If you're procrastinating that buying decision you run the risk of losing out to competing buyers.  We've all but reached the … (0 comments)

miramar fl: Market outlook single family Miami-Dade COunty - 08/05/09 04:15 AM
As you may have noticed, prices are beginning to bottom out, and we are at the beginning of the end of this depreciating cycle.  The next six months will specifically reveal exactly where that bottom actually was.  As with any economic cycle, you never know the exact bottom until you've past it.  The foreseeable future for the single family home market in Dade County is that we will soon return to a state of predictable equilibrium, where the forces of supply and demand create a balanced market with roughly six months of inventory; we now have twelve months of inventory.  In … (0 comments)

 
Carlos Lobato (Coldwell Banker RE LLC)

Carlos Lobato

Miami Lakes, FL

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Coldwell Banker RE LLC

Address: 15100 NW 67th Ave. Suite 110, Miami Lakes, FL, 33014

Office: (305) 804-1651

Mobile: (305) 804-1651

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