1. Minimize The Damage To Your Credit A Short Sale will affect your credit but not as detrimental as a Foreclosure will. A Foreclosure comes with a Final Judgment which remains on your credit report for 7 years. A Short Sale usually is reported as a “settled” account on your credit report. By maintaining prompt payments on other credit lines and diligently working on improving your credit score, you may be able to rebound to a decent credit score within a couple of years. 2. Your Personal Well Being Experiencing a Foreclosure can be emotionally disheartening. The feeling of losing your home to the bank or possible eviction by a bank can lead to many sleepless nights or even tension within your family. Living with the effects of the Final Judgement or Foreclosure on your credit report fo... 06/26/2010

To view this post in its original form, please visit my Coral Gables Real Estate blog.  Coral Gables has more "Old Spanish" style architecture than anywhere in South Florida.  In fact, it is hard to drive down a street anywhere in the Gables that does not have at least one Old Spanish home or building.  People seem to gravitate towards them because they are so charming and have a feeling of warmth that other styles do not.   Characteristics of Old Spanish architecture include stucco walls and chimneys, low pitched barrel tile roofs, arched windows, arched hallways, courtyards, terra cotta flooring and accents, iron trim, double hung windows and canvas awnings.   To view a list of several Old Spanish style homes that are currently for sale in Coral Gables, click here. If you are interes... 06/25/2010

  STOP :  Listen clearly... this has only been approved by the House.  The Senate still needs to approve this.   The House has passed another temporary extension for Flood Insurance. Let me repeat, (because of the misleading posts about the Tax Credit from last week ) a temporary extension has been approved by the House, good through September 30th, 2010.  The Senate still needs to vote on this extension. The program has been suspended since May 31st, 2010. Many of us in the real estate world know how important this is.  But why is the government having such a hard time coming together on this, or at least adding the appropriate provisions in order for this to work. This issue has stopped 1,000's of closings from taking place lately and or putting many in jeopardy that live in flood are... 06/23/2010

In fact anything is better than a foreclosure, but specifically a short sale is an excellent option because you have both parties working to accomplish the same goal. This scenario is a win win for both parties after the likelihood of modificaion false thru. This is the case the majority of the time. The benefits to the buyer allows the them to get a fesh start sooner than later. It will minimize damage to your credit and allow that same homeoner to purchse again in 2-3 years. Lenders prefer a short sale than to foreclose. They are not in the real estate business. They lose money foreclosing on homeowners. Which is why they would rather short sale than foreclose. Plus the rate of return is greater in a short sale than in a foreclosure. 06/19/2010

Foreclosure is one of the most devastating financial challenges that a family can face and one that many times can be avoided now more than ever. Your lender does not want your property and would rather have the homeowner find a solution so they do not have to foreclose. The options available are many, including but not limited to short sale. Following is a brief explanation of these solutions: Reinstatement A reinstatement is the simplest solution for a foreclosure, however it is often the most difficult. The homeowner simply requests the total amount owed to the mortgage company to date and pays it. This solution does not require the lender's approval and will 'reinstate' a mortgage up to the day before the final foreclosure sale.Forbearance or Repayment Plan A forbearance or repayme... 06/19/2010

Villas at Santander Coral Gables  Villas at Santander Coral Gables address615 Santander Ave Coral Gables Fl. 33134 Villas at Santander Coral Gables About Villas at Santander Coral Gables Year Built: 2004Number of Floors: 3Number of units: 5Sq. Ft. range: 2,051-2,431Beds: 3-4Baths: 2-3Villas at Santander Coral Gables Amenities:- Secured entrance- Assigned parking- Centrally located in Coral Gables 06/16/2010

Villa Florini Condo  Villa Florini Condo Coral Gables address101 Sidonia Ave Coral Gables Fl. 33134 Villa Florini Condo Coral Gables About Villa Florini Condo Year Built: 2006Number of Floors: 8Number of units: 38Sq. Ft. range: 1,128-1,495Beds: 2-3Baths: 2Villa Florini Condo Miami Amenities:- Secured entrance- Well appointed lobby- Gym- Party Room- Assigned parking- Centrally located in Coral Gables 06/16/2010

Villa Capri Condo Villa Capri Condo Coral Gables address 1205 Mariposa Ave Coral Gables Fl. 33146   Villa Capri Condo Coral Gables About Villa Capri Condo Year Built: 1970 Number of Floors: 4 Number of units: 96 Sq. Ft. range: 801-2,117 Beds: 1-3 Baths: 1-2 Villa Capri Condo Miami Amenities: - Secured entrance - Well appointed lobby - Pool - Gym - Party Room - Assigned parking - Centrally located in Coral Gables 06/16/2010

Navarre Park Condo  Navarre Park Condo Miami The Navarre Park Condo located in the "City Beautiful" of Coral Gables is a real find. Featuring a distinctive Coral Gables architecture, beautifully finished condos, assigned parking and great location. Navarre Park Condos are located at 290 Navarre Ave. Within close distance to the heart of Coral Gables known for its fine dining and shops. With its cozy and serene surroundings, the Navarre Park condo will surely make you feel at home. Navarre Park condo is built more like a boutique condominium tower with only 15 total units. Navarre Park has a selection of units that puts creativity and choice. Navarre Park Condo 06/15/2010

514 Santander Condo  514 Santander Condo Miami The 514 Santander Condo located in the "City Beautiful" of Coral Gables is a real find. Featuring a distinctive Coral Gables architecture, beautifully finished condos, assigned parking and great location. 514 Santander Condos are located at 514 Santander Ave. Within close distance to the heart of Coral Gables known for its fine dining and shops. With its cozy and serene surroundings, the 514 Santander condo will surely make you feel at home. 514 Santander condo is built more like a boutique condominium tower with only 7 total units. 514 Santander has a selection of units that puts creativity and choice. 514 Santander Condo 06/15/2010

Gables Grand Plaza | Apartments Coral Gables Rental  Gables Grand Plaza Offering corporate and short term rental units in Coral Gables.  Furnished and unfurnished: 1-3 beds. About Gables Grand Plaza Year Built: 2000Number of Floors: 8Number of units: 195Sq. Ft. range: 775-1,312Beds: 1-3Baths: 1-2Gables Grand Plaza Amenities:- Secured entrance- Clubhouse- Gym- Business Center- Pool- Covered Parking- Assigned parking- Centrally located in Coral Gables 06/14/2010

Over the Memorial Day weekend I took some friends out on the boat for some swimming and sightseeing.  Being a realtor, one of my favorite things to do is to tour the Coral Gables waterways and see the homes from a different perspective.   Yesterday we decided to hit the "back-country" of Cocoplum.  While the homes on Tahiti Beach have direct Bay views and are obviously more prestigious, the homes that are located on the canals have a serenity and peacefulness about them that is hard to find in Miami.  These homes offer views of the lush mangrove trees, a bit of Florida wildlife, and the serene waters you see in the photo above.  Although we didn't happen to see any this trip, it is not uncommon to see the whiskers of a manatee poking his head up for a breath of fresh air, or a great Eg... 06/01/2010

Last night I got a call from John Seidel of Coldwell Banker.  He asked me to stop by his Broker's Open House in Snapper Creek Lakes today and assured me that his listing was a "must-see".  I have to say that John did not let me down, it really is a spectacular home with a special history. Let me start out with my first impressions of the property: the home is located on an extremely large lot with Fairchild-esque landscaping (not surprising as it was designed by Raymond Jungles), it offers sweeping views of the garden from every window, large spacious living areas, extra wide hallways, beautiful keystone terrace and pool area and a gorgeous courtyard entryway.   The home was designed by Robert Bradford Brown and is situated on an angle in order to best capture the light in every room.  ... 05/28/2010

Cocoplum has $205,000,000 worth of real estate on the market today.   This large figure is comprised of 51 homes for sale priced between $1,195,000 and $16,900,000.  The average asking price per square foot is $400 for a non-waterfront home and $500 for a waterfront home.   The average size home on the market in Cocoplum is currently 6,000 sq. ft.  A property that stands out to me as a great deal in Cocoplum is located at 6910 Tulipan Court.  The owners are asking only $257.00 per square foot.  Details of the home include 6,016 square feet of living area with 5 bedrooms, 4 baths and pool.   The home is listed by Prudential Realty and the asking price is $1,550,000.  The house was under contract back in 2009 but the deal fell through. If you are interested in buying or selling within the... 05/28/2010

Deering Bay has some exciting things going on this summer for its members.   Sonoma vs. Napa Valley Wine Tasting on May 29th  with fine wine specialist Julie Mushett "Dive-In Movie Night" on June 18th features dinner and a movie poolside at 7:30 pm.  A great event for the kids! Summer Camp beginning on June 18th.  Whether its arts, golf, swimming or crafts the Deering Bay Summer Camp offers the perfect mix of activities for children looking to beat the heat. To view all real estate currently for sale in Deering Bay, please click here.   I have an agent on my team who lives in Deering Bay and specializes in Deering Bay real estate.  She offers a very unique perspective on the market and the community there.  If you are interested in seeing any properties in Deering Bay please give me a ... 05/28/2010

We have fewer and fewer clients who are interested in buying foreclousres these days.  In my opinion, the negatives outweigh the positives for a typical buyer.   First, you usually have to pay with cash.  Second,  foreclosures are poorly maintained and are missing appliances which can be discouraging.   Finally, if the house is priced below market value you must be willing to put in an offer on the spot which makes buyers nervous. Lets take a look at the Coral Gables foreclosure market in 2010: There have been 17 foreclosures sold. Only 4 have sold above list price. Average selling price: $442,000 Average Sale/List Price Ratio: 93% Average Sale Price Per Square Foot: $177.00 (The rest of Coral Gables is at $280.00) Sales Prices range from $615,000 to $63,500 There are currently only 7 f... 05/28/2010

The above home priced at $6,250,000 just went under contract in Cocoplum.  When it closes, it will be the highest priced home to sell in Cocoplum all year.   Details of the home include 6 bedrooms, 6 baths with an astounding 9,470 square feet of living space on a 34,333 square foot lot.    Special features include a dramatic reflection pool with fire bowl, loft library, butlers pantry, wine cellar, 2 staff rooms, 3 fireplaces, 2 laundry rooms and a summer kitchen.  The house is listed by Shelton and Stewart. Take a look at this year's closed sales in Cocoplum: 7270 West Lago Drive | Sale Price: 3,095,000 | 6 Bedroom, 6.5 Bath | 5,769 Sq. Ft. 112 Palmoa Drive | Sale Price: $2,950,000 | 5 Bedroom, 5 Bath | 5,893 Sq. Ft. 8250 Los Pinos Circle | Sale Price: $2,600,000 | 6 Bedroom, 6 Bath |... 05/28/2010

Are you a professor or student who wants to live close to the University of Miami campus?  If so, you may be surprised by the price point of the homes that surround the school.  Even though the University has a prime location (just south of The Biltmore Hotel and Golf Course) prices for a move in ready home are as low as $435,000.   Click here to view homes currently for sale in the area. Below are two great homes for sale in the area surrounding UM's campus: 1533 Mantua Avenue (photos below) | 4 Bedroom, 3.5 Bath | 3,435 Sq. Ft. | 10,5000 Sq. Ft. Lot | List Price: $899,000 | Listed by Altara Realty 5111 Donatello Street (photos below) | 3 Bedrooms, 2 Baths | 2,024 Sq. Ft. | 9,925 Sq. Ft. Lot | List Price: $539,000 | Listed by EWM Realtors, Inc. If you are interested in buying or selli... 05/28/2010

Taking a look at the most recent statistics for Coral Gables real estate it seems that the market has stabilized.  Currently inventory levels are down, the number of home sales is up and prices remain flat. The attached chart shows inventory and sale levels for the past 3 years.  Inventory Levels Coral Gables has 11% less homes for sale than it did back in 2007.   The absorption rate (the amount of time it takes to sell all of our inventory) is down to 13 months (we saw figures as high as 45 months back in 2007).   Experts say that a neutral market has an absorption rate of 4 to 6 months while anything less than 4 months is a seller's market and anything more than 6 months is a buyer's market.   Lower inventory is likely a result of 2 contributing factors.  First, many people are under ... 05/19/2010

Mendoza Village Condo Coral Gables | Sale Rent Mendoza Village Condo Coral Gables address115 Mendoza Ave Coral Gables Fl. 33134 Mendoza Village Condo Coral Gables About Mendoza Village Condo Year Built: 2004Number of Floors: 5Number of units: 12Sq. Ft. range: 865-1,450Beds: 1-2Baths: 1-2Mendoza Village Condo Miami Amenities:- Secured entrance- Well appointed lobby- Assigned parking- Centrally located in Coral Gables 05/17/2010