miami real estate: Who's Buying In The Next 5 Years?? - 08/27/15 06:44 AM

52% Likely to Buy in the Next 5 Years!! Are You?  Thursday August 27th, 2015  First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers   According to the recently released BMO Harris Bank Home Buying Report, 52% of Americans say they are likely to buy a home in the next five years. Americans surveyed for the report said they would be willing to pay an average of $296,000 for a home and would average a 21% down payment. The report also had other interesting revelations.
 
Those Looking to Buy 74% of those looking to buy a new home will consult a real estate agent 59% … (3 comments)

miami real estate: Bigger Downpayment Or Not - 08/27/15 06:43 AM

Should I Wait to Put Down a Bigger Down Payment?  Wednesday August 26th, 2015  Down Payments, For Buyers, Interest Rates, Pricing   Some experts are advising that first time and move-up buyers wait until they save up 20% before they move forward with their decision to purchase a home. One of the main reasons they suggest waiting is that a buyer must purchase private mortgage insurance if they have less than the 20%. That increases the monthly payment the buyer will be responsible for.
 
In a recent article, Freddie Mac explained what this would mean for a $200,000 house:

However, we must look at other aspects of the purchase … (0 comments)

miami real estate: Renters Trap - 08/25/15 11:14 AM

Don’t Get Caught In The Renter’s Trap  Tuesday August 25th, 2015  First Time Home Buyers, For Buyers   There are many benefits to homeownership. One of the top ones is being able to protect yourself from rising rents and lock in your housing cost for the life of your mortgage.
 
The National Association of Realtors (NAR) released their findings of a study in which they studied“income growth, housing costs and changes in the share of renter and owner-occupied households over the past five years in metropolitan statistical areas throughout the US.”
Don’t Become Trapped The study revealed that over the last five years a typical … (1 comments)

miami real estate: How To Choose The Right Listing Agent - 08/25/15 11:11 AM

What You Do Not Need To Hear From Your Listing Agent!  Monday August 24th, 2015  For Sellers   You’ve decided to sell your house. You begin to interview potential real estate agents to help you through the process. You need someone you trust enough to:
 
Set the market value on possibly the largest asset your family owns (your home) Set the time schedule for the successful liquidation of that asset Set the fee for the services required to liquidate that asset An agent must be concerned first and foremost about you and your family in order to garner that degree … (0 comments)

miami real estate: Are You Carrots, Eggs, or Coffee? - 08/25/15 10:37 AM
She Tells Her Grandma That She’s Just Been Cheated On So Grandma Tells Her To Do This
This is a good lesson for all of us, no matter what stage of life you’re in. You’ll see what I mean.
A young woman went to her grandmother and told her about her life and how things were so hard for her – her husband had cheated on her and she was devastated. She did not know how she was going to make it and wanted to give up. She was tired of fighting and struggling. It seemed as soon as one problem was solved, … (2 comments)

miami real estate: 93% of the Market Prices Have Risen - 08/23/15 03:41 AM
Home Prices Up in 93% of Measurable Markets [INFOGRAPHIC]  Friday August 21st, 2015  Infographics, Pricing  
Some Highlights: The national median home price for Q2 is up 8.2% to $229,400 The income needed to afford the median home in each region is directly impacted by the amount of the down payment. The larger the down payment the lower the income needed to pay the monthly mortgage payment. The West led the way with the highest median home price at $325,200. … (0 comments)

miami real estate: One Simple Habit Most Successful People Practice Every Day - 08/23/15 03:32 AM

 
 “The only thing worse than not reading a book in the last ninety days is not reading a book in the last ninety days and thinking that it doesn’t matter” — Jim Rohn
 
To be successful in real estate investing, you have to take the right actions. A wrong turn could put you back years and cost you a lot of money. There are two ways of learning what works and what doesn’t. You can learn from someone else’s mistakes, or you can make them yourself.
If you want to do anything great, chances are someone has already done it. They’ve also made … (1 comments)

miami real estate: Homeownership Rate Sinks to Lowest Level Since 1993 - 08/20/15 01:21 PM
 
The percentage of U.S. residents who own their homes is at the lowest point it has been for more than 20 years, according to a report from the U.S. Census Bureau. In the first quarter of 2015, 63.8% of people owned their housing units, down from 64.8% at the start of 2014 (these figures are seasonally adjusted).
The Census data includes decades of quarterly, seasonally adjusted homeownership rates, and those rates have not fallen below 64% since 1993. The rate was 64% in the fourth quarter of 2014. The margin of error for quarterly homeownership rates is 0.3%, meaning the change from … (1 comments)

miami real estate: How Much Is Your Downpayment? - 08/20/15 07:01 AM

64.2% of Millennials Put Down Less than 20%  August 20, 2015  Down Payments, First Time Home Buyers, For Buyers   Digital Risk recently polled Millennials about the housing market. Among their findings was the fact that nearly two-thirds of the generation who have recently purchased a home, have done so with less than 20% down; with 36% putting down less than 5%!
Here is a graph detailing the results:
This means that more and more American’s between the ages of 18 and 34 stopped paying their landlord’s mortgage and started building their own family’s wealth.
Millennials aren’t the only ones taking advantage of lower down … (2 comments)

miami real estate: Real Estate As An Investment - 08/19/15 01:38 AM

Real Estate Again Seen as Best Investment  August 19, 2015  For Buyers   We are almost back to ‘pre-housing crash’ home values. The inventories of distressed properties (foreclosures & short sales) are shrinking dramatically. The economy is improving. The job numbers are headed in the right direction.
 
The big question that still remains: Have Americans regained their confidence in real estate as a worthy investment?
According to a survey conducted by Princeton Survey Research Associates, Americans have put real estate back into first place as the best of all investments.
Here are the results of the survey:
Bottom Line Homeownership never lost … (3 comments)

miami real estate: Home Values In 5 Years - 08/18/15 12:11 PM

Home Values: Where Are They Headed Over The Next 5 Years?  August 18, 2015  Pricing   Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.
 
Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.
The results of their latest survey Home values will appreciate by 4.1% in 2015. The cumulative appreciation will be … (2 comments)

miami real estate: The American HomeBuyer - 08/18/15 12:10 PM

The REAL Reasons Americans Buy a Home  August 17, 2015  First Time Home Buyers, For Buyers, Uncategorized   We often talk about the financial reasons why buying a home makes sense. But often, the emotional reasons are the more powerful, or compelling reasons. The Joint Center for Housing Studies at Harvard University performs a study every year surveying participants for the reasons that American’s feel are most important in regards to homeownership.
The top 4 reasons to own a home cited by respondents were not financial.
 
1. It means having a good place to raise children & provide them with a good education From the best neighborhoods to … (0 comments)

miami real estate: Foreclosure Inventory - 08/14/15 02:53 AM
Foreclosure Inventory Hits Lowest Mark in Over 7 Years [INFOGRAPHIC]  August 14, 2015  Foreclosures, Infographics  
Some Highlights: The number of homes in the US in some stage of foreclosure is down 28.9% to 472,000. Only 3.5% of homes in the US are currently in serious delinquency. Foreclosure Inventory levels hit the lowest level since January 2008 at 1.2% of all homes with a mortgage. … (3 comments)

miami real estate: Rent or Buy? - 08/13/15 03:02 AM

When is it a Good Time to Rent? Definitely NOT Now!  August 13, 2015  First Time Home Buyers, For Buyers   People often ask whether or not now is a good time to buy a home. No one ever asks when a good time to rent is. However, we want to make certain that everyone understands that today is NOT a good time to rent.
The Census Bureau just released their second quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:
 

At the same time, a report by Axiometrics revealed:
“The national apartment market’s annual effective rent growth rate of 5.1% in … (4 comments)

miami real estate: Mortgage Lending - 08/12/15 03:38 PM

Mortgage Lending is NOT Out of Control!!  August 12, 2015  Down Payments, For Buyers   This year, both Freddie Mac & Fannie Mae have introduced new programs that only require a 3% down payment on a mortgage in order to purchase a home. Earlier this month, the Mortgage Bankers’ Association reported that adjustable-rate mortgages (ARMs) may be making a slow comeback as the share of ARMs increased to 7.4 percent of total mortgage applications. Some see this loosening of lending standards as a point of concern.
We know that the ridiculously low lending standards of the early 2000’s were part of the reason a housing bubble formed and … (3 comments)

miami real estate: Your Dream Home - 08/12/15 03:37 PM

Don’t Wait to Move Up to Your Dream Home!  August 11, 2015  For Buyers, For Sellers, Interest Rates   Now that the housing market has stabilized, more and more homeowners are considering moving up to their dream home. With interest rates still near 4% and home values on the rise, now may be a great time to make a move.
Sellers should realize that waiting while mortgage rates are increasing probably doesn’t make sense. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain budget for your monthly housing costs.
Here is … (1 comments)

miami real estate: Mortgage Rates - 08/12/15 03:36 PM

Where Are Mortgage Rates Headed? This Fall? Next Year?  August 10, 2015  Featured, For Buyers, Interest Rates   The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to look at where rates are headed when deciding to buy now or wait until next year.
Below is a chart created using Freddie Mac’s July 2015 U.S. Economic & Housing Marketing Outlook. As you can see interest rates are projected to increase steadily over the course of the next 12 months.

(1 comments)

miami real estate: Mortgage Process - 08/11/15 10:56 AM
What You Need to Know About the Mortgage Process [INFOGRAPHIC]  August 7, 2015  Down Payments, Infographics  
Some Highlights: According to Freddie Mac, 40% of buyers are putting less than 10% down, with many putting down as little as 3%. Have a budget and stick to it! Know your credit score and history! Reach out to a professional who can help you with the process! … (0 comments)

miami real estate: Finding The Right Agent - 08/11/15 10:47 AM

An Easy Way to Find the Perfect Real Estate Agent  August 6, 2015  For Buyers, For Sellers   There is a plethora of real estate information available today in the news and on the internet. It can be extremely confusing at times.
 
If you are thinking of buying or selling, you need an agent who can help make sense of this rapidly evolving housing market. You need an agent who can help you price your home correctly at the beginning of the selling process. You need an agent who can help you determine what to offer on your dream home without … (0 comments)

miami real estate: 3% Down Plan - 08/11/15 10:44 AM

This Is NOT Your Parents’ 3% Down Payment Plan  August 5, 2015  Down Payments, For Buyers   In their latest Housing Market Insight & Outlook report, Freddie Mac revealed that recent low down payment initiatives have raised concerns that we may be returning to the same lax mortgage qualifications that caused the housing crisis from which we are just now recovering.
The report went on to explain that today’s underwriting guidelines are nothing like those that existed just prior to the housing meltdown.
 
“Pre-crisis underwriting allowed layered risk, that is, the combination of multiple features that amplified credit risk. Low down payments often were combined … (0 comments)

 
Ed Macias, Miami FL-REO Property Management Multifamily  (Real Estate Teammates)

Ed Macias

Miami FL-REO Property Management Multifamily

Miami, FL

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Real Estate Teammates

Address: 13301 SW 132 AVE, Suite 210, MIAMI, Fl, 33186

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