The industry standard sends thousands of print and email advertising themselves, I prefer to share with my sellers and buyers in Broward county, Florida;  useful information which will help you save money when you use it on a timely manner.

Please, take a few minutes to read the insights about property taxes in Broward County, Florida: 

The 2009 property tax assessments for Broward County have been certified and are now posted on the Broward County Tax Assessor’s website. To view your property assessment, go to http://BCPA.NET click on “Property  Search” on the top left, and  then scroll down to accept the terms of use.

You may search for a property by owner name, address, or folio number. Click on your choice, and enter the information. If you search by name, all properties owned by individuals with that name will come up, and you must click on the folio number of the property you wish to view.

When the correct tax comes up, below the name and address you will find “Property Assessment Values”. The first line gives the 2009 assessed values. If you are NOT Homesteaded, the Just Value will be equal to the Assessed/SOH Value, and this is the value on which your 2009 property tax will be based. If you are Homesteaded, your taxable value is the Assessed/SOH Value, which is typically less than the Just Value. However, due to declining home values, the SOH Value can be equal to the Just Value.  Later, we will explain how that can occur.

 The actual tax owed is still blank because the millage rates of the individual taxing authorities have not yet been determined. The following is the Budget Timetable:

 August 4  -  Ad valorem taxing authorities advise the Property Appraiser of their rollback rate, proposed millage rate, and time, date and place of the first required public hearing. Special assessment districts to advise Property Appraiser of their proposed rates. 

August 11 -  Property Appraiser begins to mail Proposed Property Tax Notices (TRIM Notices)

August 24 – Last day for Property Appraiser to mail TRIM Notices

 August 24 to September 18 – Time to file petitions to the Value Adjustment Board (VAB) if you wish to challenge your 2009 Property Tax Assessment

Read the rest of this entry »

Are you looking to get a loan?

New federal rules give consumers more time to review the key points of a home loan.

Are you applying for a loan to purchase a primary or secondary home? Are you planning to refinance?

If you answered “Yes”. You’d better take a few minutes to read the new set of federal consumer-protection rules that will take effect July 30, 2009

What is new? As per the new Federal Reserve guidelines lenders have to provide you initial disclosures of your mortgage costs within three business days of your loan application.

Can your lender collect fees in advance? Lenders are prohibited from collecting any fees — except a reasonable charge for checking your credit — until you’ve been given the loan-cost disclosures. This means no more out-of-pocket upfront application charges until you’ve received the truth-in-lending disclosures and an annual percentage rate (APR)calculation of those loan costs.

Can you have a fast closing? No. There is a  a seven-day waiting period after applicants are handed their early disclosures or the disclosures are mailed prior to closing. You’ll now have up to a week to think about the transaction, and decide whether it’s right for you. Final truth-in-lending disclosures are due three business days before closing.

Are you entitled to a ocpy of the real estate appraisal? Yes.  The new Fed rules require lenders to deliver a copy of the real estate appraisal to you three business days before the scheduled closing on the loan.

Your receipt of the appraisal in advance will determine the timing for the closing unless you waive three-day rule  if you don’t think receiving the appraisal is necessary.

Any changes in relation to the APR? If the APR on the early truth-in-lending disclosure increases by more than one-eighth of a percentage point (0.125), the lender will now be required provide you a corrected version and allow you an additional seven business days to consider the transaction before settlement.

How is this translated into the actual closing? The actual closing dates will be more closely tied to lenders’ and settlement agents’ accurate estimates and their ability to deliver disclosures and appraisals by the required dates. For example, if appraisers are backlogged and can’t produce valuation reports quickly enough, settlements will have to be postponed.

How will this help you? If you are a buyer, you will have  more control and less chances of being slammed  with hundreds of dollars of charges you’d never expected. If you are a seller, do not count your money until all deadlines have been met. Hopefully this will work.

What will happen if mortgage companies and banks do not meet the timing deadlines or if the appraisals are not received? We will start seeing an escalating number of litigation and lawsuits  seeking cancellation of mortgage deals.

Are you looking to buy in the next few months? Contact me and I will assist you.

Adriana Faerman, Real Estate Broker | REO Specialist | 305-773-0253 | adrianafaerman@gmail.com

Continuamos viendo una creciente actividad de ventas de condominios en la zona de Brickell. Con incentivos y reduccion de precios que ofrecen los Developers, los compradores ahora estan mas entusiasmados en comprar.

En el grafico mas abajo podemos ver los recientes numeros de ventas de condominios en la zona de Brickell / Miami.  

 El precio promedio por pie cuadrado es de  $214 dolares, es decir aproximadamente $ 2011 el metro cuadrado.

En la ultima semana se ha registrado un total de 628 ventas.

El inventario refleja una reduccion en el numero de condominios a la venta en la zona de Brickell / Miami.

El promedio de 264  Dias en el Merado refleja pocos cambios en relacion con los ultimos meses.

El Indice de Comportamiento de Precios se encuentra en un plateau lo cual es un buen indicador de la durabilidad de este cambio.

Para poder determinar serios cambios en el mercado tenemos que observar la reduccion en el inventario, la cantidad de dias en el mercado y el movimiento en los precios. Asi podremos determinar cambios en la actitud de los compradores frente a los cambios del mercado y a la oferta de propiedades.

Como conclusion podemos decir que los compradores aun tienen amplias opciones y una posicion fuerte para negociar el precio. Muy buen momento para comprar un condominio en Brickell o Miami. Siempre teniendo en cuenta la condicion del edificio y la solvencia de la Asociacion o del Developer en cuestion.

Para los Vendedores de condominios la situacion es inversa. Ellos deberan prestar mucha atencion en el momento de determinar el precio de venta. Deberan  ponerlo competitivo y aprovechar las primeras semanas que lo saquen a la venta, las mismas  son cruciales para evitar una reduccion posterior y estigmatizar la propiedad sin chances de venderla al precio deseado.

Necesita mas informacion? Comuniquese conmigo y le respondere sus preguntas e inquietudes. Adriana Faerman, Broker, www.realgreentrends.com | adrianafaerman@gmail.com | 305-773-0253

 

Sunny Isles Market Report for July 2009

INVENTORY: Inventory has been tightening and days-on the market increasing recently, which might suggest that buyers are in a strong position to negotiate and make offers.

PRICE: This week saw a relatively little price change from last week. However, prices continue demostrate a nice up trend in general over the last week.

MARKET ACTION: The Condo Market for Sunny Isles remains quite strongly in the  Buyers’ zone. With these numbers Buyers should find ample choice.

DAYS ON THE MARKET: Properties have been on the market for an average of 348 days. Half of the listings have come newly on the market in the past 413 or so days.

MEDIANCONDOMINIUM PRICE IN SUNNY ISLES: The median condominum price in Sunny Isles Beach is $349,000 this week.

AVERAGE PRICE PER SQUARE FOOT: The average price per square foot for this week in Sunny Isles was $339.

I will be posting weekly updates on the market trends for Sunny Isles beach condos; and make sure you contact me for more information Adriana Faerman 305-773-0253 or email me at adrianafaerman@gmail.com

 

 

 

Aventura and Golden Beach. What happens with their single family homes market?

Any changes in the past 6 months for this South Florida real estate market?

 If we pay attention to the recent numbers we see a slight increase in the ales activity.

Homes for Sale : 116 (33 more homes listed for sale as compared with the previous 6 months)

Sold Homes: 20  (19 homes were sold in the previous 6 months). Most importantly, 4 out of those 20 homes were sold last month.

 REO (foreclosures) Sold: 6 homes.

 

 

 

 

2 in Golden Beach

1 in Island Way

1 Sunswept Isles

1 County Squire

1 Aventura Lakes

Least Expensive Home for Sale:Napoleon Park , Aventura –  3 Bedroom 2.5 Bath $260,000

Highest Asking Price: 641 Ocean Blvd., Golden Beach –  5 Bedroom 7 Baths $22,500,000

Encouraging News for the Aventura and Golden Beach

The housing market, especially for single family homes in Aventura and Golden Beach, Florida has not been as dramatically affected by the financial crisis as the condo market.

 Aventura and Golden Beach single family sales have seen a slight increase; and, there’s currently no REOs (foreclosures) listed for these neighborhoods.

With respect to short sale activity for this region of the South Florida market; we’ve only found 7 homes offered under short sales terms.

These neighborhoods – some of them featuring waterfront homes in gated communities with plenty of amenities and even a private beach – appeal both to locals and out of estate buyers who are looking to live in safe and luxury communities close to airports, restaurants and shopping areas.

You can contact me for available single family homes for sale in South Florida and I will provide you with updated list of homes, REOs and short sales.

 

Data provided by the local South Florida MLXchange (changes might have occurred after this post was last published)

 

 

On Blogging & Social Media

Ellen & Michael have embraced the web 2.0  environment & are reaching out to colleagues & the community to build their business and sell their listings.

What else does the repeat buyer want from their real estate agent?

Tell them what comparable homes are selling for – 11% of buyers want this from their real estate agent.
Help determining how much they can afford – 11% of buyers want this from their real estate agent.
Help find and arrange financing – 2% of buyers want this from their real estate agent.

Be sure you don’t make a habit of “winging it!”

Do you have up to the minute knowledge of the market?

Do you have a credible and dependable loan officer that you work with to qualify your buyers?

I’m sure you will agree, when you get to the point of submitting their offer you will be asked for documentation and the credit worthiness of your buyer … JUST BE PREPARED!

Rather than racing blindly after as many buyers you can come in contact with, wouldn’t it be valuable to know what the expectations and behavior of today’s buyer are ? This series of tips will focus on the buyer’s expectations, wants and needs; and the strategies and the tactics for you to use to secure more buyer closings. Read the rest of this entry »

 This is a continuation to my last post. Many of my agents use Vflyer

It’s a great way to share properties across the Web.

Please take the survey below

How to Use Postlets to Share your Listings

Here is a video on how to use Postlets

 

Postlets are a great way to get your property noticed. Where other Agents may post their property listings on Craigslist and other sites, a property listing done on Postlets outshines them all.

You can also post the same flyer on various sites like: Craigslist ,Facebook,FrontDoor, GoogleBase,  HotPads  
MySpace ,Oodle ,Trulia , Twitter,  Zillow 
This is a major time saver. Vflyer is another program that is also very good. 

Please participate in the survey below