Key Biscayne - Have Faith!

By Guest Contributor Susie Abell, Branch Manager, Coldwell Banker Key Biscayne Office

“Living faith is a rock with roots.” Puzant Kevork Thomajan

Religion plays an important role in the lives of many Key Biscayners, whether it’s attending a menorah lighting at the Jewish Learning Center, enjoying the carillon bells at St. Christopher’s-by-the Sea Episcopal Church, attending the procession of the Adoration of the Blessed Sacrament at St. Agnes Catholic Church, being a part of the Blessing of the Animals Sunday event at the Key Biscayne Community Church or volunteering for Habitat for Humanity with the Key Biscayne Presbyterian Church.

There is a wide variety of places of worship to experience on the island including:

Key Biscayne Community Church United Church of Christ 355 Glenridge Road 305.361.2411 www.keybiscaynecommunitychurch.com Rev. Charles “Bud” Schroeder

Key Biscayne Jewish Center Chabad Lubavitch 101 Harbor Drive 305.365.6744 www.chabadkb.com Rabbi Yoel Caroline

Key Biscayne Presbyterian Church 160 Harbor Drive 305.361.2058 www.kbpc.org Pastor: David L. Moran

St. Agnes Catholic Church 100 Harbor Drive 305.361.2351 www.stagneschurchkb.org Father Jose Hernando

St. Christopher’s By-the-Sea Episcopal Church 95 Harbor Drive 305.361.5080 www.stchriskb.org Father Burt Froehlich

(Information provided by the Key Biscayne Chamber of Commerce.)

Three properties, currently on the market, are conveniently located to all of the above houses of worship:

645 Allendale

 

 

 

200 Ocean Lane Drive - #608

 

 

 

677 Hampton

Weston Previews Delivers Results

By Guest Contributor Terri Bersach, Branch Manager, Coldwell Banker Weston Office

In the last six months there have been 13 closed million dollar plus sales in Weston. A Coldwell Banker Weston sales associate has been involved in 8 out of the 13 sales that is 61.5% market share. Few other Previews agents in the country are able to claim these results. Closed sales are the best way to measure the success of a real estate company and its sales associates. Currently there are 75 of active million dollar plus listings in Weston of which Coldwell Banker has 34% market share. This data is a testimony of the trust that the public has in the Coldwell Banker brand to deliver quality service and results. Some of the best values currently listed by our office Previews agents are listed below.

This property offers a great lot with long views of the lake at a price that allows any buyer to personalize it and make it their own. As we say in real estate the house has great bones and potential. Anyone looking at properties in Windmill Ranches should look at this one even if they are looking at a higher price range.

 

For the golf enthusiast, don't miss this home in the prestigious Riviera community at Weston Hills Country Club. This offers a great floor plan with space for everyone to have their own wing. This floor plan distribution makes it one of a kind.

 

New on the market this property may be attractive to those who find it difficult to obtain conventional financing due to the new strict lending financing guidelines. Seller financing is available.

 

 

Priced at $293 per sq ft, which is below the current closed sales price per sq. ft. of around $311. This property has many unique features which will attract the savvy buyer. 5 car garage for the collector and a wine cellar to boot, just to mention a few of the features, see for yourself.

 

Winner of Prestigious Home Builders award, this custom masterpiece emits elegance. Infinity edge pool w/ double lake views.

 

To view our entire collection of Previews listings in Weston visit our office page or contact one of our Previews specialists at 954.384.0099 for a private showing of these exceptional homes.

April Home Sales Up 2.9%

An industry survey revealed yesterday that existing home sales in the US rose 2.9 percent in April. National Association Chief Economist Lawrence Yun reports that most activity is with lower priced homes with increased activity in mid-priced ranges as well. April sales are up 1.8% in the south in the US, compared to March. "This report seems to offer another piece of evidence that home sales are stabilizing," said Zach Pandl an economist at Nomura Global Economics in New York. Also nationwide inventories are on the decline, with a 10.1 month inventory level vs. the previous month at 10.7.

Yun shared, “Distressed properties represented 45% of April sales. Because foreclosed properties will likely be released into the market throughout the year, it is critical that distressed homes be quickly cleared from the market.” Click here to read more at CNBC.com.

This is a great time to buy. Consider attractive pricing and interest rates, values and a wide variety of available properties. But, don’t sit on the fence too long if you’re considering a home purchase. Today’s CNNMoney.com reports per Bankrate.com, home mortgage rates jumped, with the average 30-year fixed rate rising to 5.45%, up from 5.34% last week. These rates are still lower than last year where consumers were paying 6.20%.

Are you currently selling your home or in the market to buy? What advice do you have for consumers considering the positive uptick in home sales and interest rate movement?

Energy Efficient Appliance Rebate Program

On Monday, Florida’s Governor Charlie Crist signed a bill providing rebates on energy-efficient appliances. This rebate – expected to go into effect in July – will average about a 20 percent savings and will apply to washing machines ($200 rebate), refrigerators ($290), freezers ($200), room air conditioners ($65), humidifiers ($40) and dishwashers ($200). Not only does this give a price break to consumers, but will also help lower their utility bills. Florida will be allowed to distribute at least $18 million in federal stimulus funding to support the statewide rebate program. While some energy efficient appliances cost more than non-energy efficient ones, there is a long-term payoff in terms of utility costs. When shopping for an appliance, look for the energy guide label which explains how much energy the appliance uses and the cost/savings to you. Check out Energy Star Rated appliances here. Are you currently using energy efficient appliances? What type of cost savings are you experiencing? Will you take advantage of the new rebate program?

I Want a Deal

Jeff Chenore, PA, GRI, CRE, CNMS, CNRS, CNIS, CNAS www.elitefloridahomesales.com Sales Associate, Coldwell Banker Cooper City/Pembroke Pines Office

You need to know... A short time ago, in Broward County there were nearly 44,000 units (single family homes and condo/townhome) for sale. We were struggling to sell an average of 1500 units per month. During the early 2000's prices (not value) were exploding by 25-30% PER YEAR! We were simply unable to maintain adequate supply of homes to meet demand. We were averaging 9,000-12,000 total units for sale and selling somewhere around 2,500/month. We could "turn over" our inventory three to four times per year!

While prices were exploding...the definition of "a deal" in real estate was...A contract to purchase! Any contract. There was a terrible under-supply of inventory which created a heightened "demand" for real estate and we all were bellying up to the trough! It was a feeding frenzy!! Buyers could close and "flip" the new purchase without delay and make BIG profits! Prices soared! We never heard anyone say..."I want a deal!" We only heard "I want a HOUSE!!"

Today, all we DO hear are potential buyers saying they want a deal. They want to buy at the bottom. What's the bottom? Has it passed? I think it has. Supply and demand are trending back to each other. The lines will cross eventually and when they do, what then will define a "deal"?

Our inventory levels are now steadily falling and the good news is that the number of closed sales is on the rise although we still have 25,000+/- units for sale.

Houses are selling at a fraction of what they were just three to four years ago! A 1,600 sq. ft. 3-bed 2-bath home WAS $400,000 or more! Today, that same home is selling at under $200,000! That's a deal but more importantly I think that's a relief! Those who know me have heard me say..."If I get a flat tire, I need to take my car to a guy wearing a blue jump suit to fix it...THAT guy deserves to own a house too!" Prices (Not VALUE) had become ridiculous and now it's just getting back to fair.

So you say you want a deal? They are out there! They are waiting to be had! There are 26,000 people waiting to make a deal. 26,000 people wishing someone would make an offer. 26,000 people wanting to be the next one to sell!! If I've said it 1 time I have said a thousand "Guys, You don't have to STEAL real estate to get a good deal...You just need to BUY it!"

Jeff is currently marketing the following exceptional value. For additional information, please click here.

First-timers Helping to Move Inventory

According to the National Association of Realtors, 50 percent of sales in the first quarter of 2009 were to first-time homebuyers and nearly half of these sales were foreclosures and short sales. Lance Ramella, Principal at RW Real Estate Advisors, says, “we’re not going to see any real sustainable price appreciation until we move the foreclosures off the inventory list.” To capture new interest in home sales thanks to lower interest rates and a first-time-buyer tax credit, a growing number of lenders and asset management companies that own foreclosed homes now appear more willing to drop prices. What’s more, the industry is starting to see resurgence in competitive bidding due to attractive pricing. Other factors that are helping to make a difference are favorable interest rates and federal tax credits. Read more in this RISMedia article. What is your outlook about the real estate market? Are you seeing more real estate transactions in your neighborhood?

New Appraisal Rules: Coming to a Sale Near You

By Guest Contributor Patricia Perez, Senior Loan Officer, Sunbelt Lending Services

 

 

In the last several years, some significant changes in both the real estate and home loan sides of the housing industry have had an impact on real estate transactions. The issue I would like to bring to your attention today could go further and affect the way you do business.

The Home Valuation Code of Conduct (HVCC), which became effective May 1, 2009, governs the way in which appraisals must be ordered for all residential real estate transactions, where the loans are sold to Fannie Mae and Freddie Mac.

The purpose of this new regulation is to ensure that the value of the home - on which a mortgage is being issued - is arrived at both independently and objectively

While loan originators have traditionally been able to order appraisals directly from local appraisers who they know to be familiar with the neighborhood or region, this legislation will prohibit this practice and will instead randomly assign an appraiser, who may or may not be someone in the immediate area. The new legislation also eliminates the loan originator's ability to discuss the property with the appraiser.

In order to comply with HVCC, some lenders and brokers are choosing to use the services of Appraisal Management Companies (AMCs), which will select from a list of licensed and approved appraisers to complete individual appraisals. Other lenders like us (Sunbelt Lending) are choosing to establish an approved appraiser list. The person ordering the appraisal on a rotation basis will operate independently of those involved in the loan origination. This way we can be sure to have qualified appraisers familiar with our local market area appraising properties and arriving at values.

While, ultimately, the value of a property is the value of the property, an appraiser can only successfully determine what the value is by having the right information about the home and the local market.

Buyer’s also now have the right to receive the appraisal report no less than three (3) days prior to closing. No one involved it the transaction (buyer, loan officer or realtor) can see the appraisal report until after it has been reviewed by the underwriter for the lender.

It will be interesting to see how the HVCC will impact our business, expect that we at Coldwell Banker will keep you informed.

Ups & Downs in the South Florida Real Estate Market

View Statistics for Recent Home Sales Below:
North Coconut Grove
South Coconut Grove
Coral Gables
By Anne Platt

Sunny South Florida has always been the home of extravagant highs & extreme lows & the current real estate sales are no exception.

At the end of the first quarter for the last six months South Coconut Grove had twenty-three closed sales & an average sales price of $1,273,826 compared to twenty-five closed sales & an average sales price of $1,195,296 for the same time period one year ago. North Coconut Grove for the last six months had twenty closed sales and an average price of $927,225 compared to twenty-three closed sales and an average price of $824,473 for the same time period a year ago.

Coral Gables at end of the first quarter for the last six months had one hundred thirty-seven closed sales & an average sales price of $890,953 compared to one hundred thirty-two closed sales & an average sales price of $1,236,146 for the same time period a year ago.

Then take a look at the dive in the median sales price for both areas!

Now what does this mean!?!

After conferencing with several of my Coldwell Banker colleagues, we believe that the rise in the upper end prices in Coconut Grove emphasizes that we are a stable, growing & valued neighborhood. The rise in the average price signifies that larger & more expensive homes are in demand.

Though Coral Gables appears to have had a drop in the average sales price that is due more to the lack of closed sales in Gables Estates & other ultra luxury neighborhoods rather than a drastic drop in home values throughout. Last year there were four properties over seven million dollars sold. This year one to date had closed by March 31. There has now been one closing in April for $12,900,000. That would have raised the average sales price to $995,789. Coconut Grove & Coral Gables have always been excellent & sought after places to live, work & play.

After conferencing with several of my Coldwell Banker colleagues, we believe that the rise in the upper end prices in Coconut Grove emphasizes that we are a stable, growing & valued neighborhood... Coconut Grove & Coral Gables have always been excellent & sought after places to live, work & play.

The drop in the median price does show that we have been touched by the real estate slowdown. There are many outstanding bargains on the market. Astute buyers, anxious to move to Coral Gables & Coconut Grove at prices not imagined four years ago, are now snapping them up.

Please email or call me & let me hear your thoughts.

If you or a friend, colleague or neighbor have thoughts of making a move, please call me & I will be glad to consult with you & fine-tune the sales information to help you determine the money that you will realize from the sale of your property. Remember that interest rates are at unheard of lows & it is an exceptional time to move to a larger home.

Coral Gables 137 Closed Sales Coral Gables for the past six months ending March 31, 2009
	Beds	Baths	Sq/Ft	List Price	Sale Price	SP/Sq Ft	SP/LP	DOM
High	7	7	12,328	$9,945,000	$8,450,000	$745	117%	808
Low	0	0	0	$133,000	$123,375	$72	54%	0
High	3	2	2,648	$1,024,519	$890,953	$267	90%	142
Low	3	4	2,075	$625,000	$540,000	$255	91%	94
588 properties were currently active on the market March 31, 2009

Coral Gables 132 Closed Sales Coral Gables from Oct. 1, 2007 to March 31, 2008
	Beds	Baths	Sq/Ft	List Price	Sale Price	SP/Sq Ft	SP/LP	DOM
High	8	8	11,598	$15,900,000	$11,700,000	$1,300	122%	534
Low	0	0	0	$309,900	$280,000	$157	62%	2
High	3	2	2,894	$1,388,938	$1,236,146	$363	91%	133
Low	3	2	2,264	$799,000	$726,000	$320	92%	94
630 properties were currently active on the market March 31, 2008

South Coconut Grove 23 Closed Sales S. Coconut Grove for the past six months ending Mar 31, 2009
	Beds	Baths	Sq/Ft	List Price	Sale Price	SP/Sq Ft	SP/LP	DOM
High	7	8	9,941	$4,990,000	$4,250,000	$454	100%	503
Low	2	2	0	$300,000	$250,000	$106	68%	6
High	4	3	3,966	$1,493,469	$1,273,826	$292	86%	132
Low	4	3	3,443	$799,900	$730,000	$298	89%	110
119 properties are currently active on the market March 31, 2009 in South Coconut Grove   115 were active on the market March 31, 2008   The median sales price for the past six months ending March 31, 2008 was $960,000

North Coconut Grove 20 Closed Sales N. Coconut Grove for the past six months ending Mar 31, 2009
	Beds	Baths	Sq/Ft	List Price	Sale Price	SP/Sq Ft	SP/LP	DOM
High	6	5	5,745	$3,450,000	$3,050,000	$683	97%	414
Low	2	1	1,072	$420,000	$262,500	$178	57%	1
High	3	2	2,539	$1,043,420	$927,225	$359	88%	136
Low	4	2	2,009	$749,500	$662,500	$336	88%	122
87 properties were currently active on the market March 31, 2009 in North Coconut Grove   100 properties were active on the market March 31, 2008   The median sales price for the past six months ending March 31, 2008 was $710,000

For more information,
contact Anne at anne@plattproperties.com.

A construction boom? Where? Now?

By Guest Contributor Carlos Lobato, Sales Associate in the Coldwell Banker Miami Lakes office.

One of Miami-Dade County's best kept secrets for buyers looking for a home in the $500K to $1 million dollar price range is Hialeah Gardens Estates. As a matter of fact, most people have never heard of it! It is a rare combination of both urban and country living unlike anything else in the immediate area. It is a quaint secluded neighborhood in Northwestern Dade County of only 200+ homes with two city parks on either side and has one of the lowest tax millage rates in the County.

LOCATION
In real estate the mantra has always been location, location, location. Here, The Estates most certainly fits the bill. This neighborhood is easily accessed in just 30 seconds from I75 with immediate access to the Palmetto Expressway and the Florida Turnpike. Furthermore, one has immediate access to an array of shopping centers including Florida's largest Home Depot only 1 minute away. Additionally, dining and entertainment are all within a few minutes’ drive. And lastly, both the major airports, and down town Miami are only 30 minutes away. Traffic and congestion are virtually non-existent here.

HOMES
For starters, the initial appeal of The Estates is in the size of the lots. They range from .25 acres to 5 acres. This layout immediately lends itself to an ample separation between homes. Zero lot lines are nonexistent here. Additionally, horses are permitted on those properties that have at least an acre of land. The homes generally range in size from three bedroom 3000 sq. ft. homes to 6+ bedroom residences with 6000+ sq. ft. of living area.

STATE OF THE MARKET
Market conditions being what they are; the long range prognosis for The Estates is excellent. Firstly, the foreclosure rate is very low with only three bank-owned homes brought to market in the past 12 months. Also, the general turnover rate of homes is also very low, subsequently contributing to overall neighborhood stability. And unlike the conventional market wisdom, The Estates is presently undergoing a construction boom! There are 20+ homes under construction which, in my estimate, will range in market value from $650,000 to $1.2 million at today's market prices. It's important to note that these home owners do not have to build at this time. They are choosing to do so, simply because they realize that a home in Hialeah Gardens Estates is a worthwhile investment that is sure to be in high demand. In short, now is the time to buy a home here at a great price!

www.floridamoves.com/carlos.lobato

North Bay Road, the New Billionaire’s Row?

By Guest Contributor Jeri Jenkins, Sales Associate in the Coldwell Banker Miami Beach office.

N. Bay Road has long been known as Millionaire’s Row. It is now also Billionaire’s row.

Developed primarily in the 1930’s and 40’s it offers many grand estates on the wide bay with spectacular views of downtown Miami.

North Bay Road has also been the home to many luminaries past and present. Among them are Barry Gibb, Robin Gibb, Jennifer Lopez, Harold Prince, Matt Damon, Billy Joel, Cheyenne, Hulk Logan, Alejandro Sansz, Diana Ross, and Thalia. Even the allure of the gated islands can not dim Buyer’s desire for this long coveted location.

There are currently 19 waterfront houses for sale on Upper and Lower North Bay Road.

There are a few particularly great deals. The 4 best deals in my opinion are:

• 2046 N. Bay Rd. – 7Bd/ 9 Full Baths/ 2 Half Baths/ LA 14,892 sf. /Lot: 38,314sf. - Was $16.9M – Now $13.895M
• 2700 N. Bay Rd. – 7Bd/ 6 Full Baths/ 2 Half Baths/ LA 5,300 sf. /Lot: 26,773sf - Was $8.9M – Now $6.9M
• 5718 N. Bay Rd. – 6Bd/ 6Full Baths/ LA 6,545 sf. /Lot: 15,536sf - Was $5.9M – Now $4.7M
• 4640 N. Bay Rd. – 3Bd/ 3 Full Baths/ LA 2,041 sf. / Was $3.595M – Now $2,995M

Working Boomers Head to 55+ Communities

According to a Realty Times article, by 2010 Boomers will represent a quarter of the US population and will have a big impact on the housing market. In a recent report by The National Association of Home Builders reports there is a tendency for many Boomers to move to 55+ retirement communities and continue working. The study also found a growing desire for Boomers to want to live in a community that is close to work while offering an active lifestyle.

Are you a Boomer considering your housing options? What are your thoughts about 55+ communities?

Fighting Mortgage Fraud

In 2008, mortgage fraud in Florida carried a price tag of more than $100 million. The US Congress recently voted to create a nationwide mortgage fraud task force modeled after Miami-Dade’s task force. This effort will help communities reduce mortgage fraud and help prevent victimization. The Miami-Dade Mortgage Fraud Task Force joined forces with the private sector and law enforcement to fight fraud. Together, they work to prevent identify theft for mortgage applications, false appraisals and other illegal practices. Legislation was passed in October 2008 making it easier to prosecute, making the crime a third degree felony. Listen to an interview with Miami-Dade Mayor Carlos Alvarez.

Submit your comments about mortgage fraud and tips you can provide to help prevent it happening to homebuyers.

What’s New in Hollywood, Florida?

By Guest Contributor, Jay Feldman, Managing Broker of the Coldwell Banker Hollywood Office

For First-Time buyers…in fact, ALL homebuyers, this is YOUR time! While inventory, the number of homes and condos available for sale, has dropped dramatically from its peak last September, there is still a great abundance of desirable properties now on the market. As of March 31, there were just over 1300 homes, townhouses and condos for sale in Central Hollywood. At the current pace of sales, there’s 18 months of inventory, assuming no new listings. That’s down from nearly 50 months last September…reflecting a definite change in market trends! This is definitely NOT the time to sit back and watch the market. April 2009 sales county-wide showed a 47% increase over last year in the number of units sold. Early indications show that May will experience a similar rebound.

The best news for buyers? Prices have fallen nearly to those experienced at the turn-of-the-century! On average, price per square foot is nearly the same as March, 2002, approximately $103 per square foot! That’s more than half what it was at the peak of the housing boom. Now, that doesn’t mean that all neighborhoods or buildings have fallen that far or to those levels. Home values are neighborhood/building-, age-, location- and condition specific. BUT, the overall slide in value provides tremendous opportunities for those who were priced out of the market during the mid-decade boom. Also, home values are not unlike the stock market. There, too, stock values are down, way down from what they were. But there also, quite obviously, some stocks are more expensive to purchase than others.

With mortgage interest rates at or near historic lows and prices down, affordability indexes are at a peak not seen in many years. Add to that the new $8000 Federal income tax credit for first-time buyers and the large number of properties for sale, and there’s been no better time for buyers…whether first-timers or “veteran” homeowners to jump into the market.

Is it confusing? It can be, so Coldwell Banker Hollywood will be holding a Homebuyer Discovery Seminar on Thursday, May 21, beginning at 6:30 pm. Your questions will be answered by Realtors, a lender and a title representative in a relaxed, no obligation, no pressure environment. Our lender can even start the pre-approval process so you can get an idea of just how much home you can afford. We’ll discuss the process, from start to closing…how to begin the search, where, and how to navigate to closing. We’ll discuss “short sales” and foreclosures, along with their myths, opportunities and pitfalls. Other topics will include mortgage application and review, home inspections, home warranties, title insurance, hazard insurance, condominium and homeowner association issues and reviews and other components of the home purchase

The seminar will be at our office in the Park Sheridan Plaza, across from TY Park, just west of I-95, at 3319 Sheridan Street, Hollywood, FL 33021. Because seats are limited, registration is a necessity. Interested parties can call the office at 954.963.1600 or email Managing Broker Jay Feldman at Jay.Feldman@FloridaMoves.com.

COLDWELL BANKER PREVIEWS INTERNATIONAL

By Guest Contributor Mike Brunnberg, Managing Broker of the Coldwell Banker Aventura office.

Previews International is the luxury division of Coldwell Banker and is recognized as a world leader in the marketing of exceptional properties. Previews International was the first real estate marketing program to go beyond the local market and specialize exclusively in marketing luxury properties globally. Today, this luxury division is widely considered to be the world’s consummate marketing program for successfully promoting luxury properties to a local, national and international marketplace.

Marketing luxury residences requires an expert with discretion, contacts and extensive experience in selling exceptional real estate. Previews International specialists provide you with unsurpassed service, our extensive local knowledge, far reaching international connections, and excellence in luxury home marketing.

Nationally, we lead the way in luxury home sales. We handle an average of $85.5 million in luxury home sales every day and participated in 16,670 transaction sides of multi-million dollar homes, which equated to $31.2 billion in sales volume in 2008. Our multi-faceted marketing program includes an innovative online marketing initiative including exposure on Forbes.com, NYTimes.com, IHT.com, WallStreetJournal.com, Enormo.com and many other luxury websites.

Additionally, Previews International proudly publishes three outstanding proprietary luxury publications – The Previews Homes & Estates magazine, The Previews Exceptional Florida Magazine (through an exclusive partnership with Unique Homes Magazine) and the Previews Portfolio. Coupled with the resources of the Coldwell Banker network, the properties marketed through Previews International benefit from the advantages of this unrivaled combination of experience, expertise and resources.

What Would You Do?

By Guest Contributor Alina Parapar, Coldwell Banker Property Manager, Key Biscayne office.

You’ve planned a memorable, romantic Valentine’s Day dinner in your condo overlooking the bay highlighting the city night lights. Dinner is at 8:30 pm. You’ve been out shopping for just the right dress…and you’ve found it! Everything is going to be perfect…

You’ve planned a memorable, romantic Valentine’s Day dinner in your condo overlooking the bay highlighting the city night lights. Dinner is at 8:30 pm. You’ve been out shopping for just the right dress…and you’ve found it! Everything is going to be perfect…

You arrive home at 6:30 p.m. – there is a message from your tenant in your investment property that the hot water pipe has burst, and the gushing water is doing a real number on the ceiling, walls, carpet and the tenant’s personal belongings in the closet!

Who ya gonna call?

Well, if your property was being professionally handled by a property manager, you would never have received the call. That’s right!

This is exactly what did happen. The Coldwell Banker property manager received the call; the condo building manager was called to arrange to have the water turned off and immediately search for the leak. Then the property manager called the water removal company who arrived by 8 pm that same evening to start the cleanup. All repairs to the property were completed within three days.

Coldwell Banker provides property owners with full property management and rental services from condos and villas to houses and beachfront estates. Count on them to offer complete tenant screening, regular maintenance and upkeep supervision, prompt rent collection, full compliance with state and local landlord/tenant laws, and, of course, available for service emergencies 24/7.

Call Coldwell Banker…and relax. For more information, click here

Is newspaper marketing effective?

By Guest Contributor, Yuri Flores, Sales Associate, Coldwell Banker Aventura office

 

 

Watch this sixth in the Real Estate Uncovered series by Yuri Flores.

Real Estate Maintenance Fees Uncovered

By Guest Contributor, Yuri Flores, Sales Associate, Coldwell Banker Aventura office

 

 

In this fifth episode by Yuri Flores, learn about maintenance fees in today’s economy and market.

Home Inspections

By Guest Contributor, Yuri Flores, Sales Associate, Coldwell Banker Aventura office

 

 

What is one of the biggest mistakes buyers make when purchasing a home? Find information in this video that provides information you won’t want to miss.

 

Check out details about the following exceptional property.

Avoid these home selling mistakes

According to a recent smartmoney.com article, there are many common mistakes you should avoid when selling your home. Three of them are:

Waiting for a market rebound
Waiting could cost you thousands of dollars in home value, according to the article.

Taking offense at lowball offers
Now more than ever, buyers are testing the waters in price negotiations. Rather than turning down what you think is a low bid, present a realistic counter offer. Getting into negotiations is better than waiting on the side lines.

Waiting to fix up the place
According to the article, “If you know a part of the kitchen's hardwood floor needs to be replaced, do it before the open house. Deducting the cost of such necessary repairs from the asking price will cost you a lot more than just getting the project done yourself.”

Read more on smartmoney.com send in your comments. Do you have tips that can help other buyers?

Determining Your Home’s List Price

Determining your list price is the most important component when putting your home on the market. Setting the price too high can discourage prospective buyers and could prolong time on the market.

Ways to help accurately determine a home’s value include:

Comparative Market Analysis - A Coldwell Banker sales associate can provide a Comparative Market Analysis (CMA). This report helps to establish the relative value of your home by comparing homes in your area that are currently on the market to recently sold properties with similar characteristics. Comparables include neighborhood, number of bedrooms and baths, lot size and certain amenities (e.g. pool, garage space).

Appraisal - A professional appraiser looks at several factors to determine your home’s value. Appraisers research the current market value of similar homes in your area, fluctuations in the real estate market and previous sales and tax records of the home, as well as compare census data regarding local home sales.

Buyers hold the cards - Ultimately, buyers determine the value of a home. The value can vary, depending on supply and demand in the market. Both a CMA and an appraiser help sellers to estimate the market range for a home’s listing price, but no two homes are exactly alike and therefore no two will sell for the exact same price.

Are you trying to determine your home’s list price? What questions do you have? Drop us a comment and let us know!

President's Message - Florida

There’s a significant amount of good news to report about the real estate market.

According to an April 28 Bloomberg article referring to the Case-Shiller index, the declines in home prices slowed down in many major US metro areas in February. This is the first time that’s happened since 2007. The article reports that this news is “amplifying signals that the market may be stabilizing.”

Two Florida major metro areas experiencing the slowdown of home-price declines are the Miami and Tampa areas — including Broward, Miami-Dade, Palm Beach, Hernando, Hillsborough, Pasco and Pinellas counties.

The reason for optimism doesn’t end there. Another Bloomberg article, dated April 29, quotes Lewis Ranieri — a mortgage-bond pioneer and former Salomon Brothers vice chairman — as saying, “I’m actually very enthusiastic about housing, and I haven’t said that in five years.” He also said, according to the article, “In every other recession, housing has bottomed before the end of the recession. Housing is showing all the indicators that this will happen again.”

The bottom line is that there seem to be many silver linings to be excited about, according to real estate industry experts. Although we don’t know if we’re at the bottom of the market for home prices yet, hearing positive news is certainly very encouraging.

Clark W. Toole, III
President
Coldwell Banker Residential Real Estate, Florida

Good first impressions

Selling your home? Following these tips will help you make your house look its best for buyers. Keep in mind that first impressions are usually the most important.

Attic and Garage
    • Clean out the clutter to make the area look larger
    • Keep stairways and entryways well lit

Kitchen
    • Paint walls, wash cabinets, and put up new curtains
    • Remove any appliances or clutter from your counters

Living Areas
    • Check ceilings for stains
    • Use white and neutrals if painting and redecorating
    • Wash windows and replace any cracked or broken glass

For more tips, click here. Do you know of other ideas for making a good first impression? Leave a comment and tell us your thoughts!

President's Message - Dallas/Ft. Worth

Ready for some reasons to be optimistic? An April 28 Bloomberg article references the Case-Shiller index, saying the declines in home prices slowed down in 20 major US metro areas in February — including Dallas/Ft. Worth. This hasn’t happened since 2007, and Bloomberg reports that this could be an indicator that the housing market may be stabilizing.

According to an April 29 Bloomberg article, Lewis Ranieri — a mortgage-bond pioneer — recently stated, “I’m actually very enthusiastic about housing, and I haven’t said that in five years.” He also said, “In every other recession, housing has bottomed before the end of the recession. Housing is showing all the indicators that this will happen again.”

News like this seems to be giving us permission to smile and be excited about the real estate industry. According to Ranieri, “We have this amazing basket of inventory to play with. If you give the system this tremendous amount of usable inventory, cash and the financing mechanisms to work, we’re going to have a field day. We’re just not paying attention to how good this is.”

Sue Meyer
President
Coldwell Banker Residential Brokerage, Dallas/Ft. Worth

Fast fixes to sell your home

According to a CNNMoney.com article, “Before you list your place, you'd better make sure it's the best one in its price range.”

Here are a few of the tips listed in the article:

Boost curb appeal
Upgrade your mailbox, house numbers, doorbell and knocker with a copper or bronze set.

Update a bathroom
For example, by re-grouting old tile floors that have blackened grout and installing beadboard wainscoting over dated tile walls.

Spruce up the interior
Painting can completely transform a space, the article says, as well as replacing boring light fixtures with statement pieces.

Revive a dated kitchen
Improving your kitchen can be accomplished by painting dark oak cabinets white and having stone tile installed right over existing Formica countertops.

Are you sprucing up your home to sell it? We’d like to hear from you! What are you doing to get it in top selling condition?

Coldwell Bankers CARES Foundation

As the charitable arm of Coldwell Banker, the Coldwell Banker Residential Real Estate CARES Foundation has donated over $2 million to the communities we serve. Recipients include a wide variety of non-profit educational, health, welfare, environmental and cultural arts programs.

CARES’ initiative in Florida continues to be the Ronald McDonald House. Many Coldwell Banker sales associates participate by volunteering their “Time, Talent and Treasure” to this generous organization. CARES is also committed to Habitat for Humanity. Coldwell Banker has built over 125 homes throughout the state, and we’re still building.

Money donated by CARES is raised by the Coldwell Banker sales associates and staff. Our sales associates contribute by donating a portion of their closed commission income through the pledge card program, or they contribute through fundraisers. Past successful fundraisers have included golf tournaments, fishing and bowling tournaments, bake sales, white elephant sales, raffles and silent auctions. We also gratefully accept donations from the public and recently received an anonymous $25,000 donation.

While we call the CARES Foundation the charitable “arm” of Coldwell Banker, the associates and staff who contribute to CARES are really the heart of our organization. They are very special people, indeed.

For additional information, please contact Sharon Littlejohn, Regional Foundation manager at (954) 452-1999 or click here.

The CARES Mission Our mission is to give back to the communities and neighborhoods in which we live by providing charitable contributions and volunteer support, thus strengthening and reinforcing our commitment to creating a lasting source of unity, hope and vision throughout Florida.