Miami Lakes, FL Real Estate News

By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
Adapting to Changes in the Reverse Mortgage Program The changes come to the reverse mortgage market are just around the corner but will you be able to adapt to them? Change is part of life, it's essential to keep life interesting and necessary because it presents new challenges for us to overcome and brand new opportunities to explore when things seem to be getting stale. The better we are able to adapt, the better we survive, and change is a way to keep us on our toes, always paying attention because it's when we get comfortable that we are the most vulnerable. Not that there's anything wrong with getting into a comfortable rhythm from time to time, but in the midst but what was the greatest financial recession since the GREAT one, our ability to adapt is becoming the most important as...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
When Temp Jobs Raise, Does the Economy Recover? While the housing recovery continues, you would expect there to be less temporary jobs and more permanent ones, right? Well, people must have been asleep the day this was discussed in economics class as 'temp' jobs have jumped more than 50% to 2.7 million (the most since 1990) according to an article in the Huffington Post. The reasons why temporary jobs have soured as opposed to permanent ones can be many: Aside from the recession, which have officially ended in 2009 but still sends plenty of shockwaves through the economy, employers might just be afraid of hiring full time, permanent employees in case everything goes south again and employees have to be let go; after all, concrete signs of economy recovery did not appear until April of t...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
The Ugly Side of Waiting for Retirement They say patience is a virtue. Be patient, wait, and that which you deserve will come to you. Sometimes though, waiting is probably the worst thing you can do. In a video, which appeared in Reverse Focus, Shannon Hicks compares retirees who don't take advantage of a reverse mortgage to patients who are told about a medication that can prolong or save their lives and choosing to do nothing instead. I agree because doing something, anything, is always better than doing nothing and, when you wait, you are doing nothing. Waiting can lead to impoverishment, especially in your retirement years, when you are no longer as strong, sturdy or resourceful as you used to be. Retirement is associated with sitting on a chaise at the beach sipping fruity cocktail...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
Can Declining Hotdog Sales Affect the 4th of July? This close to the 4th of July, I thought it was appropriate to note the declining sales of hotdogs, which have remained a stable in American cuisine for decades, at barbecues, birthday parties and lazy beach days.  In an article that appeared in Business Week on June 27th, various reasons were given as to why hotdog sales continue to decline, despite their reptutation for being relatively cheap to buy, inexpensive to put together and are available in a variety of sizes and flavors (my favorite is of course the cheese dog). One of those reasons is the increasingly introduction of food from different cultures and countries such as nachos and tacos, which are also relatively inexpensive to make and enjoy. Different foods are taking center ...
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
   I was reading the Business section of the Washington Post when I came across an article By the Associated Press, Published: June 30  about: Home price gains bring ‘underwater’ sellers off sidelines, relieving frustrated buyers It told of a great story or better said an inspiring tale of how one couple prevailed over their lender's rejection of their short sale because of the raising home price. Here is their story of how the huge price increases produced an unexpected retirement gift for Larry and Diane Plaster, who were resigned in January to selling their San Diego home for less than they owed the bank, known as a short sale. They owed $352,000 but accepted an offer for $290,000. Their bank rejected the deal four months later, leading the couple to put the home up for sale again. O...
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
This is very interesting and I just had to share...     Daily Real Estate News | Tuesday, July 02, 2013   With rising home prices, more home owners are finding they can sell without fear that their mortgage is worth more than their house. The number of sellers coming onto the market is serving as a relief to home buyers who were becoming increasingly frustrated at the lack of inventory and increased bidding wars, the Associated Press reports.  It’s a “virtuous circle,” says Mark Fleming, chief economist of CoreLogic, a real estate data provider. “The fact that house prices have increased so dramatically ... has unlocked a lot of that pent-up supply.” From January to March, about 19.8 percent of homes nationwide with a mortgage are considered “underwater” -- that’s a drop from 23.7 perce...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
Reverse Mortgages are a way to gain financial freedom and stability in the current financial climate. A married couple, 62 years of age and older, who live in their primary residence and have enough equity in their home can qualify for a reverse mortgage. While the easiest way is for the couple to apply and sign for a reverse mortgage together as homeowners on title, there are ways to qualify for a reverse mortgage even when one spouse doesn't qualify for as a borrower for a reverse mortgage. An individual lender policy, enacted on February 19, 2013, as a safeguard for senior households with both a borrowing and non-borrowing spouse, this new policy ensures homeowners are aware of the rules and regulations when applying for a reverse mortgage.  Very few companies still offer Reverse Mor...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
Three years ago, complaints began to mount concerning the Department of Housing and Development's treatment of non-borrowing spouses on a reverse mortgage. Erica Jessup, program specialist at the HUD, said at the National Reverse Mortgage Lenders Assocation in 2010, “these borrowers were told the loan was assumable, or a loan officer said that it was alright to remove a spouse from title because they could refinance or add the spouse back to title later without any problem. We need to get the word out to our loan officers and counselors that they need to thoroughly explain the provisions of our mortgage”. A year later, AARP took matters into their own hands by suing HUD, accusing them of abandoning rules and regulations set in place to protect non-borrowing spouses form evictions or for...
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
    Miami Lakes, 10th Annual 4th of July Concert and Fireworks Show. Hosted by: Miami Lakes Cultural Affairs Committee Where: Miami Lakes Optimist Park    6411 NW 162nd  ST When: Thursday July 4, 2013 Festivities begin at 5PM with DJ Adrian Sanchez Live music from Lauren Posey and the Velvet Band Delicious food by the Food Truck Round Up  Fireworks will begin at 9PM     If attending, bring your own blankets and/or chairs to relax and watch the show. NO PETS, NO PERSONAL FIREWORKS OR SPARKLERS ALLOWED     HAPPY FOURTH OF JULY FROM REALTY EMPIRE,  STAY SAFE!     
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
Attention Home Owners!!!!   Pending Home Sales at Strongest Pace since 2006. The Miami housing market has limited inventory of homes for sale. Which puts home Sellers in the in the best position in the last several years.  Not to mention that appraisal values have actually caught up and no longer coming back for less. Now is the time to take advantage of the up swing of the housing market before the rise in interest rates slow things down.  If you are considering selling your home, I will market your home to the World and deliver you multiple contracts to pick from. Contact me today!   Info@StephanieLeon.net or call me 786-664-7710    Pending Sales at Strongest Pace Since 2006 Daily Real Estate News | Thursday, June 27, 2013 Pending home sales rose in May to the highest level since late...
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By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
Retirement is one of those things that to many looks like the light at the end of the tunnel, "I've worked hard and now I've earned my right to relax," but lately this light is becoming darker and darker as the current economic state of the United States keeping pulling everyone under, including seniors, who patiently waited and worked in order to reach a peaceful retirement. In an article published this past May in Yahoo! Finance, Brian O'Connell tackled 5 myths concerning retirement that everyone should be aware of, whether retirement is years away or right around the corner. The first, and personally most surprising, is $1 million guarantees a stable retirement. Retirees aren't taking into consideration the biggest factor for how much money you will need: inflation. Think about somet...
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
A qualified, competent real estate agent will help you navigate the myriad of decisions that arise when buying and selling a home. An agent provides value to the homeowner in many ways:  Pays for all marketing and advertising costs. Adds experience and expertise in all aspects of the sales process including marketing, financing, negotiations and more.  Handles all showings. Brings a network of known, trusted real estate professionals. If your agent doesn't have the answer, he or she likely knows someone who does. Always has your interests in mind so you always have someone on your side. Can handle and advise on all price and contract negotiations. Provides you with all the possible options and opportunities without holding back. Gives an unbiased, realistic view of your home and your op...
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
Survey: Borrowers Fail to Shop Around for Mortgages Daily Real Estate News | Wednesday, November 28, 2012 More borrowers could be able to snag a lower mortgage rate -- and save lots more money on their mortgage costs -- if they would shop around, according to recent data from Fannie Mae’s November National Housing Survey. By not shopping around for a mortgage, borrowers often end up paying $1,000 or more in closing costs and may not get the lowest mortgage rate that could unlock savings for the life of the loan, according to the survey. The survey showed that nearly half of lower-income mortgage borrowers only obtained one quote when signing up for their current mortgage. Meanwhile, about 75 percent of higher-income borrowers received competitive offers in shopping around for a mortgage...
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
  Tactic’s to winning the multiple offer situations, when your buyer cannot compete on price.   Today’s market is very complex and the first-time home buyer keeps losing out to investors.    For a cash buyer: If I am working with a cash buyer I find out upfront how much capital he has to invest in the property. Then I pull REO (foreclosure) comps in his market area to get the Sale Price to List Price % and then work his budget into the equation. This way he would be making offers on properties that he can compete with to win.  Another approach with cash buyer is to find out if the property is has any additional fees (example HOA fees, commission, back taxes, etc.) that the seller would need to pay at closing and offer to pay them in addition to your offer price. This will allow for the ...
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
  Guess what?  It is that time of the year again, for the 2012 Miami Lakes Pumpkin Patch. Pumpkin Patch Opens:  October 5 - 31, 10:00 am - 9:00 pm Where: Miami Lakes United Methodist Church           14800 NW 67th AVE          Miami Lakes, FL          Florida 33014     Two and a half truckloads of pumpkins are coming this year!   The truck containing over 2000 pumpkins of all sizes and the pumpkins weigh over 43,000 lbs has arrived and the second truck will be on Friday, 10/12/12 at 4pm and another on 10/22/12 at 4pm the whole community is welcome to join in an unload the trucks.  Call ahead to let them know you are coming to help 305-821-7274  The whole community is invited for fun and photo opportunities and, of course, the opportunity to purchase pumpkins! The fall festival always h...
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
    I came across this article and wanted to share with all Home Owners..   More Home Owners Lifted From Underwater Daily Real Estate News | Thursday, September 13, 2012   As values rise, more home owners are finding equity in their houses again, surfacing after being underwater on their mortgage for the past few years, according to the latest data from CoreLogic. In the second quarter, 10.8 million, or 22.3 percent, of home owners owed more on their mortgage than their house is currently worth, which is down from 11.4 million — or 23.7 percent — in the first quarter, CoreLogic reported Wednesday. Often, the fear among the industry with underwater home owners is that they will be much more likely to stop making their mortgage payments and walk away from their properties. However, the ma...
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
  What is a short sale? A short sale is the sale of real estate (property) where the amount of the sale is less than the amount owed by the borrower to their lender. This is an alternative to foreclosure. Most lenders will require to be considered for a short sale the borrower to show a type of hardship. Examples of a hardship loss of income, divorce, unemployment, medical illness, etc Some lenders now will consider you for a short sale if you are not in default; if you can prove you can no longer pay the loan and will soon fall in default. Several lenders are offering cash incentives to those who execute a short sale paid at the closing to the borrower start over.  The greatest advantage to the borrower is the avoidance of a foreclosure on their record.   Should I Short Sale??? Selling...
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
                        Are you Struggling to pay your home loan each month?   Do you need to sale but your loan is for more then what the home is worth?   Are you in Foreclosure?   If you answered yes to any of the questions above contact me for a private confidential interview. As a property owner you have options. I can Help you avoid the financial pain and headache of Foreclosure. Short Sale laws favoring the homeowner are about to expire 12/31/2012. In order to close a short sale by the deadline, Now is the time to take action.   Let me be your Short Sale Solution.   I know the banks and I can get the ball rolling towards your Short Sale Approval.Contact me Today!  
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
 10 Tips for Sellers. Here’s 10 Tips for Sellers. Selling your house can be stressful. The process can be time consuming and exasperating, but the end result - a successful home sale - is always worth the effort. The best thing you can do to reduce that stress and achieve a seamless transaction is hire real estate professional who knows the ends and outs of buying and selling.   Choosing  the right real estate professional  If you are considering selling your home, be sure to choose a realtor who knows the market and you can trust to represent your best interest.  Sellers Tip 1: It is always challenging and difficult to hear the truth about this complicated market, but the realtor who speaks honestly and keeps it real about pricing/marketing your home will be without a doubt the Best ch...
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By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
I invite you to join Miami Real Estate with Stephanie Leon.   If you like Facebook and want to be able to follow real estate news and search for a property in real time via a MLS link, straight from your Facebook page then this is the page for you.   Miami Real Estate with Stephanie Leon gives you the newest type of property search call Social Property Search this feature give you the opportunity to search for your next property with the help of your Facebook friends.  Seller’s love being on Facebook and Buyer’s love to look over all the homes and sharing with friends. It is a win, win for both.   Now, go and check out Social Property Search.   ________________________________________________________________
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