Kendall (Miami, FL)
By Teri Arbogast, Davie, Weston, Plantation Real Estate- Top Realtor, Davie Florida Realtor, Weston, Plantation, Miramar
(TOP 1% of Realtors)
A Tastefully Updated 3/2.5 Corner Valencia Townhome SOLD in Miami!  A Tastefully Updated 3/2.5 Corner Valencia Townhome SOLD in Miami! This property is just listed in the highly sought after Valencia Townhomes community. The home has been freshly painted, the master bathroom has a large oversized shower, and there is a large modern white kitchen with plenty of storage and and eat-in quartz countertops. Large sliding doors lead you out to a private large back patio with no back door neighbors and plenty of space to make this your own oasis.This home is located in the highly desired Miami community of Valencia where residents enjoy gated access, a community pool, beautiful landscaping and more.Children living in this home will attend these Miami-Dade County schools: Claude Pepper Elementa...
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By Teri Arbogast, Davie, Weston, Plantation Real Estate- Top Realtor, Davie Florida Realtor, Weston, Plantation, Miramar
(TOP 1% of Realtors)
A Tastefully Updated 3/2.5 Corner Valencia Townhome FOR SALE in Miami!                   A Tastefully Updated 3/2.5 Corner Valencia Townhome FOR SALE in Miami! This property is just listed in the highly sought after Valencia Townhomes community. The home has been freshly painted, with a newer master bathroom with large oversized shower, a large modern white kitchen with plenty of storage and and eat-in quartz countertops, new flooring on the stairs and 2nd floor (all LVP flooring) and accordion hurricane shutters. The home allows lots of natural lighting. Large siding doors lead you out to a private large back patio with no back door neighbors(one of only a handful) and plenty of space to make this your own oasis. There is also a one car garage with room to park more cars on the drivewa...
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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)
BORROWER BEWARE… …of APPRAISAL MANAGEMENT COMPANIES   What is an Appraisal Management Company (or AMC)? There is an appraisal code of conduct that all Lenders must follow, called the Home Valuation Code of Conduct (or HVCC).  Many lenders have created, or have an equitable interest in, AMCs as a way to profit off of the HVCC rules by forcing appraisals to be ordered through the AMC of their choice.  This is done at the borrower’s expense.    AMCs get to keep more than half the money for the appraisal, and the actual appraiser doing all of the work gets the balance.  Most AMCs charge $400-$450 per appraisal, and the individual appraiser gets an average of $150-$200 for doing all the work.  The AMC simply profits the balance while not doing any work or even being a licensed appraisal comp...
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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)
Home Tweet Home…Using social media is no longer simply a hobby for Real Estate & Mortgage Professionals who are more technically inclined; rather it has become the backbone of marketing for many.  For those of us on Active Rain, we have seen the power of blogging as one part in the social media frenzy.  But there are others like Twitter, Facebook, Foursquare, and more. Twitter can be used in many ways to gain new clients, which came as a huge surprise to me.  How can writing a sentence on Twitter bring you client?  I always hear about famous people tweeting an update about themselves, like football players saying they are injured or moving to another city via trade.  But it seems that Twitter has many aspects that can improve your business as well. Whether it be tweeting about your loca...
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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 value limit, or loan limit, for the Reverse Mortgage has been extended again.  In February 2009, President Obama signed the stimulus package, which included an increase in the Reverse Mortgage loan limits.  Well not really the loan limit, but the value we use to then figure the loan amount was increased by 150%.  The value limit had previously been set at $417,000, and the new limit is $625,500.  This was supposed to expire at the end of 2009, and then was extended until the end of 2010.  Now congress has signed another extension lasting 9 more months, which should finally come to an end at the close of Fiscal Year (FY) 2011, or October 1, 2011. I truly hope that this isn’t the case.  The raised loan limit has helped me close several clients with higher home values, which means more...
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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)
What a seesaw ride the last few months have been in the Reverse Mortgage Industry.  Much of the news has been doom and gloom.  First, we waited for congress to sign the $250 Million appropriation that FHA was asking for, but it never came.  FHA needed this money to supplement and diminishing Mortgage Insurance Fund, but congress only allowed for $150M and then reduced it to $140M.  This in turn caused FHA to announce that they would lower the Principal Limit for Reverse Mortgages a second year in row.  What exactly does this mean? In 2009, FHA announced a 10% reduction of the loan amount that a borrower receives for the Reverse Mortgage starting FY 2010 (which was Oct 1, 2010).  So imagine falling values only compounded by a lower amount that can be used for seniors in need, but wait ca...
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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)
In February 2009, President Obama signed the stimulus package, which included an increase in the Reverse Mortgage loan limits.  Well not really the loan limit, but the value we use to then figure the loan amount was increased by 150%.  The value limit had previously been set at $417,000, and the new limit is $625,500.  This was supposed to expire at the end of 2009, and then was extended until the end of 2010.  Now congress has signed another extension lasting 9 more months, which should finally come to an end at the close of Fiscal Year (FY) 2011, or October 1, 2011. I truly hope that this isn’t the case.  The raised loan limit has helped me close several clients with higher home values, which means more people with the need can take advantage of the Reverse Mortgage Program.  Here in ...
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