Miami Lakes, FL Real Estate News

By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
Florida Real Estate Market Insight July 20, 2011 – Florida’s existing condo sales rose 8 percent in June with a total of 7,941 units sold statewide compared to 7,330 sold in June 2010, according to the latest housing data released by Florida Realtors®. The statewide existing condo median sales price last month was $93,900; a year earlier, it was $92,300 for a 2 percent increase. Existing home sales for June was a total of 17,597 homes sold. The statewide median sales price for existing homes last month was $138,000.(Metro area slightly higher) June’s statewide existing home median price was about 1.8 percent higher than it was in May.   National Real Estate Market Insight The national median sales price for existing single-family homes in May 2011 was $166,700, down 4.5 percent from a y...
Comments 2
By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
               Mortgage rates may be on the rise in Florida, whether it's short-term or long-term, home owners should be aware of this news. Here is the latest news about the increases (all increases occur within a weeks time): 30 year fixed-rates: increased from 4.51 to 4.60 percent 15 year fixed-rate:  increased from 3.69 to 3.75 percent 5 year adjustable-rate: increased from 3.22 to 3.30 1 year ARM: increased from 2.97 to 3.01 percent
Comments 2
By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
No,, they are not the same and often confused. The Deed is the actual legal and physical evidence (document stating "this Deed") and is valid and enforceable. Title is the legal term commonly used to explain the intricacy of property ownership. Title shows who has right or claims to the property and right of possession.  So, to make it simple the Deed says who owns the property and the Title shows if any liens, city violations, right of possession, easements and encroachments, mortgages,  etc; exist against the property Deed and Title go hand and hand. The only way to convey title legally is with a deed.
Comments 3
By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
CoreLogic reports that the U.S. shadow inventory of homes has fallen 18 percent from its peak. As of April, about 1.7 million homes were in the foreclosure process and headed toward the market. At the current sales pace, those properties represent a five-month supply. Source: 
Boston Globe (06/23/11)
Comments 4
By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
Realtors asked to volunteer and to urge homeowners to attend July 11 event in Hollywood; July 13 event in Jacksonville. Two free foreclosure prevention workshops to help homeowners in financial distress are scheduled in the next two weeks in Florida: in Hollywood on July 11, 11 a.m. to 7:30 p.m., at the Westin Diplomat Resort & Spa. The workshops are sponsored by the U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD), as part of the Obama Administration's Making Home Affordable Program, along with the HOPE NOW Alliance and NeighborWorks America®. For questions, information on what homeowners should bring to the workshops and to volunteer, please contact Bonnie Wolferd at bonnie@wolferdconsulting.com or (713) 819-3156 Source: Florida Realtors  
Comments 1
By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
Pending home sales have trended up unevenly since bottoming last June, rising in seven of the past 11 months. Said NAR Chief Economist Lawrence Yun    The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 8.2 percent to 88.8 in May from an upwardly revised 82.1 in April and is 13.4 percent higher than the 78.3 reading in May 2010. The data reflects contracts but not closings, which normally occur with a lag time of one or two months.   This is the first time since April 2010 that contract activity was above year-ago levels, and the monthly gain was the strongest increase since last November when the index rose 10.6 percent. Source: NAR and Florida Realtors
Comments 0
By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
  Have you ever driven by a home and would like to know the details of the property on the spot?Well now you can...Highlights:  Works With Any Mobile DeviceView Nearby HomesGet Instant Daily Market UpdatesView Property & Neighborhood InfoPhotos GaloreRequest a ShowingSearch Mortgage RatesAs a courtesy I can connect you directly to the MLS on your phone allowing you to enter the address and obtain all property details. Contact Stephanie Leon NOW!!!Email: StephanieLeon@avantiway.comPhone: 786-664-7710  
Comments 4
By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
Florida Home sales rose 3% compared to May 2010; condos up 17%. Existing home sales increased 3 percent last month with a total of 17,228 homes sold statewide compared to 16,790 homes sold in May 2010 National sales down 3.8% due to market constraints. Source: Forida Realtor's  
Comments 0
By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
      South Florida home sellers are enjoying more power than they've had in several years: There are fewer houses for sale and buyers are hungrier than ever. We can safely say we are in a Seller's Market. The South Florida real estate market is Hot for foreclosure, but the HOTTEST market right now are those homes being sold not in some sort of foreclosure.. YES, the HOTTEST homes for sale are regular sales. The home being sold owner to new owner with no 3rd party approval are sold in just a few days at or near asking price...Buyers want to buy and Seller's have heard the call with prices stable in South Florida Seller's are selling again.  Source: Sun Sentinel
Comments 2
Are you interested in adquiring a property in Royal Oaks? There are good looking properties at very attractive prices righ now! Buying a home today is much better that it was in 2005! You have the time to pick and choose... But the market is starting to move, so don't take too long to make a decision. Miami Lakes is offering wonderful area and Royal Oaks is one of the fine communities for you to consider. Contact our office and one of our Sales Associates will be happy to to assist you. We have new listings coming into the market regularly in Royal Oaks.     If you need financing to purchase your new home in Royal Oaks, then you should contact a local mortgage professional. We work with several mortgage brokers and banks locally in Royal Oaks that know the area and the properties. Real ...
Comments 0
By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
Apartment bargains once dominated the housing market, but those bargains have slowly faded away. As vacancies decrease and rents rise, renters are finding fewer deals. Analysts expect vacancies to decrease even more and rents to continue to rise through 2013, as the economy continues to improve. Rental activity recorded its best start for the year since 1999, according to Reis Inc. Vacancy rates have fallen to mid-2008 levels and rents have increased for the past five quarters, now averaging $991 per month nationwide.Renters are finding the fewest deals along the coasts, such as New York, Washington, D.C., Boston, Los Angeles, San Francisco, Seattle, and San Jose, Calif. These cities are experiencing low vacancy rates. Also, a boost in these cities' economies is sending rents higher. Ne...
Comments 4
By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
Listing data that doesn't come directly from multiple listing service (MLS) data is more likely to have inaccurate price and status information, according to research by Trulia.Trulia found that third-party syndicators of listing data that didn't come directly from an MLS posted a 21.3 percent error rate regarding the listing's price or status. Trulia says the problem is that real estate professionals submit the data to these syndication sites but often fail to return to the site to update the listing when information changes, which causes a "significant increase of disparate data sources resulting in less accurate data online," according to Trulia.Meanwhile, third-party re-syndicators of MLS data had a 10.2 percent error rate, direct feeds from brokers posted a 5.6 percent error rate, ...
Comments 19
By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
In Florida, one of the states hardest hit by the foreclosure crisis, the process took an average of 619 days in the first quarter of 2011, up from 470 days a in 2010. In the first quarter of 2007, it took an average of 169 days for the process to play out. So in other words it takes about 20 months to complete the process of foreclosure in Florida. A process that should only take about 6 months.Source: RealtyTrac
Comments 3
By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
Florida continues to grow. According to the 2010 Census, Florida's population was 18,801,310 on April 1, 2010, an increase of 2,818,486 since April 1, 2000.The 2000-2010 period was the fourth consecutive decade to see the Florida population grow by more than 2.8 million residents. Florida's numeric population increase during the past decade was the third largest of any state, trailing only Texas and California. Its percent increase (17.6 percent) was the eighth largest in the nation. More than half the state's total population lives in metro areas in 2010. More than half of Florida's growth was in 8 counties: Orange, Miami-Dade, Hillborough, Palm Beach and Lee  counties by more than 150,000 residents over the last 10 years.   Source: Census Bureau Florida and FAR 2011
Comments 3
By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
"Miami Lakes Ale House" had its soft opening yesterday March 15, 2011. Miller's Ale House was named as one of Nation's Restaurant News' "Regional Powerhouse Chains" and we now have one in our very own town...  Located in the HEART of Miami Lakes on Main Street at 15251 NW 67 AVE... Delicious fresh food, friendly staff and the place to relax and have a good time! Keep you ears open for a the official Spring Grand Opening! View Menu Click Here
Comments 0
By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
(Currently this program in Florida is only available to residents in Lee County.) If you are not in Florida use the link at the bottom of this page to see if your State has a HARDEST HIT FUND. The Hardest Hit Fund, announced by President Obama a year ago and expanded to more states since then, largely targets lower-income jobless or underemployed homeowners.Those eligible receive forgivable loans for mortgage payments, or they may tap other programs, such as one to help them get current on mortgage payments. Generally, the loans are forgiven after five years if borrowers stay in the homes and keep current on payments  Current Programs Florida Housing Finance Corporation (Florida Housing) was directed by Treasury to create and administer foreclosure prevention assistance programs that ad...
Comments 0
By Stephanie Leon | Miami Lakes Realtor®, Turning For Sale Into SOLD!
(Realty Empire Incorporated)
  Let me ask you this... would you drive your car without looking at the gas gauge before driving off??? It is the same concept for Realtors. This is an essential first step in the home buying process. There are more advantages to gaining pre-approval than you would initially surmise. When the lender hands a borrower a preapproval letter, it means the borrower can: 1. Save time by looking at what you qualify to afford. 2. Spend more time looking at the right homes by narrowing down the price-range. Some properties don't qualify for certain types of financing and it is essential to know in advance to not waste time looking at the wrong properties. 3. Avoid Disillusion by knowing you can afford that dream home you just saw instead of being disappointed when you find the perfect home and t...
Comments 4
By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
We are a Direct Mortgage Lender looking for Mortgage Loan Originators (MLOs fka Mortgage Brokers or Loan Officers) who want to thrive in this market.  We are not the institutional, large lending/banking centers, but we have all the same abilities to underwrite and fund loans.  We are actually better in that sense because we do not treat our borrowers as files who are just passed from department to department.  We believe in providing the utmost personalized service possible, which closing the mortgage quickly and efficiently.   Are you a highly driven, self motivated MLO who wants to take their business to the next level?  If so, continue reading about what we offer.   Our last blogs gave you details about our company and what we offer our MLOs in the form of Marketing and Leads.  This ...
Comments 0
By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
We are a Direct Mortgage Lender looking for Mortgage Loan Originators (MLOs fka Mortgage Brokers or Loan Officers) who want to thrive in this market.  We are not the institutional, large lending/banking centers, but we have all the same abilities to underwrite and fund loans.  We are actually better in that sense because we do not treat our borrowers as files who are just passed from department to department.  We believe in providing the utmost personalized service possible, which closing the mortgage quickly and efficiently.   Are you a highly driven, self motivated MLO who wants to take their business to the next level?  If so, continue reading about what we offer.   Our last blog gave details about our company.  This blog will tell you what we offer our agents.   MARKETING & LEADS: O...
Comments 0
By Phil Stevenson, CRMP, "Mortgage Nerd" in Miami, Florida and Texas
(PS Mortgage Lending 305-791-4874 or 888-845-6630)
We are a Direct Mortgage Lender looking for Mortgage Loan Originators (MLOs fka Mortgage Brokers or Loan Officers) who want to thrive in this market.  We are not the institutional, large lending/banking centers, but we have all the same abilities to underwrite and fund loans.  We are actually better in that sense because we do not treat our borrowers as files who are just passed from department to department.  We believe in providing the utmost personalized service possible, which closing the mortgage quickly and efficiently.   Are you a highly driven, self motivated MLO who wants to take their business to the next level?  If so, continue reading about what we offer.   We are located in Miami Lakes, FL, which is the most northern part of Miami-Dade County, just south of Miramar and Pemb...
Comments 0