Singles Moving to the Burbs

A National Association of Realtor's poll shows an increase in singles moving to the suburbs. In 2009, 31% of homebuyers were single (21% women, 10% men), and more than 50% bought in the suburbs.

Dallas' Omar Villafranca of NBC5 talked to a single female who bought a home in the suburbs. They also talked to Coldwell Banker Realtor Kathy Baird, who has sold homes to single buyers. Check out the NBC5 segment for more.

Are you single and considering moving the suburbs, or already have? What attracts you to these areas?

Parkland Isles…Featured NW Broward Community

By Guest Contributor Chris Maccarone, Branch Manager, Coldwell Banker Residential Real Estate Coral Springs office

Parkland Isles is a beautiful neighborhood located in the western most part of the City of Parkland. There are about 660 single family homes in all shapes and sizes where current values range from approximately $350,000 to $650,000. Only 10 years young, this picturesque gated community shows its pride by its beautiful landscaping and mature trees. A serene lake is interwoven throughout the community enabling most of the homes to be waterfront. The clubhouse area is very active and is within a scenic walk from all homes. The amenities appeal to most anyone which include a nice size fitness center, swimming pool with plenty of party area, tennis courts, a basketball court and a social activity center with fun activities planned for both kids and adults. Parkland is known for its highly rated schools and the residents of Parkland Isles are fortunate to be surrounded by an award winning high school, middle school and two elementary schools. With the affable guards watching the gate, entrance to the community always has a welcome home feeling. Family oriented and pet friendly, it’s no wonder that Parkland Isles is considered to be one of the most desirable communities in Broward County!

Here are a few homes in Parkland Isles for sale…check them out!

New Coconut Grove Entertainment Complex Opens

By Guest Contributor Judy Campo, Branch Manager of the Coldwell Banker Residential Real Estate Coconut Grove office

Paragon Theaters is moving full-steam ahead with a 1,500 seat luxury movie theatre featuring reserved seating with SONY 4K high definition digital projection, three 3D screens, valet parking, deluxe concessions and full bar service. The theatre will open in early June with the much-anticipated SEX AND THE CITY 2.

Additional plans include luxury bowling, a private screening room and the opening of “U Bar”, a trendy bar and lounge. The stadium seating will also provide sporting events and concerts. Coco Walk is on the verge of a major rebirth and the opening of this entertainment center will bring those who want to shop, dine and unwind “Grove Style”!

The heart of Coconut Grove has always been a place where local artists display their stunning works and Paragon’s Coco Walk will be featuring their artistry throughout the complex.

After the theatre enjoy walking around the Grove and choose from a variety of restaurants within two blocks of Coco Walk. Strolling thru the Grove and people watching is another favorite past time while listening to street musician’s playing their music; stop and pet a pet boa and/or have your photo taken with brightly colored parrots and huge iguanas. Come and enjoy all the Grove has to offer for people of all ages.

Here are some properties currently being marketed by the Coconut Grove office

Buying a Foreclosure? You Need a Strategy

By Guest Contributor Anne Steinhauer Chakos, Sales Associate, Coldwell Banker Residential Real Estate, St. Armands Office

Most buyers I have met in the last four years ask to see foreclosures. The banks refer to foreclosures as REO for Real Estate Owned. They are deals, right? Bargain basement prices on homes that the bank cannot wait to dump. Sweep in, make an offer and it's yours. Right?

Not always.

In my experience, I have found some banks use strategy of their own. They price a home a bit under market. This attracts lots of interest. They require the property to stay active on the market for seven days before they start accepting offers. In some cases, there is so much interest that multiple offers are made. The bank instructs the listing agent to ask for "highest & best" and then a winner is selected.

So what should you, the buyer, do in a multi-offer situation?

Have your own strategy.

It is critical you do not let emotion or competitiveness drive your actions. Instead, with the help of your real estate agent, determine a fair market price for the home. Next, decide what you are willing to pay for the home and stick with it. Make your initial offer a strong one. If you can pay cash, do it. If you are pre-approved, get full approval from your lender. Put at least 1.5% of the purchase in escrow upon seller acceptance.

What if the bank still comes back and asks for highest & best?

Don't panic. If you left yourself a little room on your initial offer price, then go up. If you went in at your highest price, but you left yourself some room on the close date, then shorten the close date, or up the escrow deposit. Here is what you don't do - don't believe this is the only house for you. There are others out there.

And if it is your dream home? Again, pick a price and stick with it. Do you plan to live there for the next 15 to 20 years? Then a $5,000 to $10,000 won't make difference in the long run. If you plan to finance the purchase, your lender won't lend for more than it is worth, so be prepared to pay the difference in cash.

Whatever the result, rest easy knowing you did your best.

Up to $8K in Your Pocket!

What would you buy with an extra $8,000?

Check out Coldwell Banker's Buyer Bonus Event. Did you know there are over 5,600 listings participating nationwide?

Extra TV Covers The Jills & Palm Island Property

Coldwell Banker’s ‘The Jills’ were recently featured on EXTRA’s ‘Mansions and Millionaires’ segment. The dynamic duo were interviewed at 94 Palm Avenue, a sprawling 14,000+ sq foot estate on renowned Palm Island in Miami Beach.

A Trip Down Memory Lane

By Guest Contributor Charlette Seidel, Branch Manager of the Coldwell Banker Residential Real Estate Coral Gables Sunset

As I interview the new generation of agents to the real estate business, I love to think back on how it was when I started in the business in 1971. I had a desk and a phone. Our brochures were one page with poor quality black and white photos taken by the Board photographer and assembled with a short write up of the property. They were produced at the local board and mailed to us. We then put them in a notebook. We also got a sheet reporting the sales for the week. We then took out the sold listings replacing them with the new. An agent could have a listing for two weeks before anyone knew about it other than seeing the sign on the property. We used to call each other to inform other agents of our new listing. There were no Brokers’ Open houses.

To do research, we went to the Boards of Realtors and used a card file. The card had hand entries of the sales information put in by the staff.

Contracts were two pages long and only roof and termite inspections were done. The rest of the inspection was done by the buyer at the walk through – turning on the water faucets, flushing toilets, turning on the oven, dishwasher, checking for ice in the refrigerator if it had an icemaker.

Everything was typed using carbon paper. We were seller’s agents as they paid the commission, and there were no disclosures. Women were usually home so the agents didn’t have to meet for the showing of a property.

The largest real estate office had 25 agents. Agents worked in the office. There were no home recorders. Hand written messages were used at the office. Selling a million dollars worth of real estate made you a top producer! Sales were put together immediately, and seldom was there a competing bid! We hand delivered everything. Everyone knew everyone.

Just look at the change!

Picture This...

Wishing the federal tax program was still around to help sell your home, or buy one if you're in the market? Did you know there is another type of economic stimulus out there right now to help? Check out Coldwell Banker's Buyer Bonus Event. There are already over 6,000 properties around the U.S. participating. Have you seen the recent Buyer Bonus Event TV commercials? Have you checked out the Coldwell Banker site to find out more?

Bathroom Remodeling: A Project Worth Investing In

By Guest Contributor Scott Tedesco, Senior Loan Officer, Sunbelt Lending Services.

The economy is showing signs of recovery. In fact, just last week, retail sales were reported up for the seventh straight month - thanks in large part to the 6.9% gain at hardware stores and garden centers. If you've been thinking about spending some money of your own at a hardware store for a project around the house but aren't sure you can justify spending the money, we've got two words for you - bathroom remodel.

Return on Investment - In terms of remodeling a home's bathroom, the returns can be staggering. While many home remodeling projects return only pennies on the dollar in terms of adding value to the home, some studies indicate a national average return of 90% or even more for mid-range bathroom remodels. While the amount of your return will certainly depend on many variables - it is one of the most desirable upgrades in a home, and brings amongst the highest returns.

The Options are Endless:

• Make It Bigger. A major trend is to expand the size of the master bathroom. Adding space to this room is a wonderful luxury as well as a potentially huge selling point. An augmented master bath allows you, as well as any potential buyers, the ability to make other additions and upgrades.
• Build for Two. One of the major issues for homeowners with only one bathroom, or couples sharing a master bath, is the inability for two people to use one bathroom simultaneously. If size permits, this problem can be alleviated with upgrades, like a double sink, a separate shower and tub, and a short wall to enclose the toilet area.
• Add a Designer Touch. From tubs and toilets to fixtures and flooring, there is literally no end to the combinations of great looks. These types of improvements are relatively inexpensive in comparison to the dramatic upgrade they give to the look and feel of your bathroom. Walls can be repainted. Old counter tops can be replaced with granite or marble, and vinyl flooring can be upgraded to tile.
• Invest in a Spa Experience. If luxury is what you're looking for, you may want to think about an oversized tub, either sunken or raised, with Jacuzzi capability. State-of-the-art showerheads can also be installed, giving you options like receiving a water massage or bathing under a rainfall. Tile floors, towel racks, and toilet seats with built-in heating elements can bring added warmth during the colder months. And don't forget the fog-free mirrors.
• The bottom line is that a great bathroom is something you will enjoy for as long as you own your home. It may also add to the home's overall value if and when you decide to sell in the future.

The above was provided by the Mortgage Market Guide, compliments of Scott Tedesco.

$8,000 Buyer Bonus Cash Can Buy A Lot of Food

Check out more about this special event and participating homes in Florida, Dallas/Fort Worth and Atlanta markets, or anywhere in the U.S.

Now that the federal tax program is over, where are you turning for some real estate stimulus - whether you're a buyer or seller? Did you know about this Buyer Bonus Event?

Latest Fort Lauderdale Market Information

By Guest Contributor Michael Mangold, Manager, Coldwell Banker Residential Real Estate Fort Lauderdale SE and Las Olas offices

The latest statistics from Trend-Graphics for Fort Lauderdale (Broward County) seem to bear out what our Realtor’s have been seeing; namely that the market is stabilizing and prices (of those properties priced correctly) have also leveled off and in some cases are climbing because of multiple offers and a lack of inventory.

The number of listings has decreased by 32% from a year ago, while the number of pending sales has risen 53% during the same period and closed properties are up 21%.

Coincidently, the average days on the market are now 89 days, and the sold prices are within 6% of the list price as an average.

Everyone is watching to see if the ending of the first-time tax credit will cause business to slow, or, if we indeed are in the front end of a real estate recovery as everyone hopes. Coldwell Banker’s “Buyer Bonus Program” is poised to pick up the incentive for everyone, not just first time buyers!

The following properties are being marketed in these offices:

Source - SEF MLS, April 2009 v. April 2010

Buyer Bonus Event - Smart Move!

With your potential savings of $8,000 with Coldwell Banker's Buyer Bonus Event, you could buy 267 smartphones! That's what's depicted on today's "What You Can Buy for $8,000 target="_blank" site.

What do you think about this new program? Will you participate?

Tax credits and first-time buyers

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

You can imagine the mad rush by first-time buyers on the last week of April trying to get a property under contract in order to cash in on the government sponsored tax credit. Unfortunately, many of these folks, and their agents, ultimately wound up very disappointed because there were only so many properties available, and a gluttony of buyers bidding on them; a classic example of demand exceeding supply. Not to mention that many of these homes wound up selling for more than 100% of their asking prices! That only happened in 2005...right?

So as we fast forward a few weeks. And, can we say that the tax credits helped the real estate market? Yes! Did they spur demand? Noticeably! Would extending them have continued their positive effects? Surely! And now that they're history, has the fierce competition amongst first-time buyers abated? No way!

I diligently continue making the case that if you're a first-time buyer, it is no longer truly a buyer's market. Even in a post tax credit world, entry level properties are still selling quickly, and at or near their asking prices; when they don't sell for more that is.

$8,000 Buyer Bonus Rocks!

With Coldwell Banker's Buyer Bonus Event going on right now, did you know for the full $8,000 credit at closing, if you purchase a home participating in this special promotion that you could put the cash toward 44 rocking chairs for your new porch?

Have you checked out the participating properties yet? What do you think? See a home that catches your eye?

WHEN PUSH COMES TO SHOVE

By Guest Contributors Mike & Lynda Morgan, Sales Associates, Coldwell Banker Residential Real Estate Pinecrest North Office

If you’re under pressure to sell your home quickly in a challenging market, you may have to swallow a large dose of reality and take some radical steps to increase your home’s visibility. While making concessions can seem difficult, please consider the following proven suggestions to produce a quick sale.

Remember that there are myriad possibilities for exposure in today’s internet-driven society. I addition to your agent’s traditional print and online marketing tools, use social networking sites like Facebook and Twitter to promote your listing to younger first-time buyers.

When setting your price, place it ten to fifteen percent below your competition. All other things being equal, your home will readily appear as the best value. Also consider the price, “range” your home will fall into, and make sure you’re on the lower end of that range. For example, a $199,000 home falls into the upper end of the $150,000 to $200,000 range, but that same home priced at $201,000 is in the lower end of $200,000 to $250,000 range. Buyers tend to look in ranges of prices, so again, make yours look like the best value.

Finally, talk with your agent about incentives you can offer, like paying buyer closing costs or decorating allowance. If you have a strong need to sell quickly, any or all of these suggestions should produce results.

The Morgan Team is currently marketing the following exceptional property. Click on the photo below for further information.

9980 SW 128th St, Miami, FL 33176

In the Market for A Luxury Home? Don’t Miss the Opportunity!

By Guest Contributor Sara Ludmir, Sales Associate, Coldwell Banker Residential Real Estate Aventura office

What are you waiting for, Mr. Buyer? Isn’t it better to make an offer at your comfort price for the property that you liked the most rather than risk losing the opportunity? I have seen clients lose the property they want simply because they thought it would be waiting for them once they were ready to make an offer. What is holding you back from making that offer? You are definitely paying too much attention to the asking price. In April, I sold a property in Aventura that was originally listed at $4.5 Million 2 years ago. It closed at $2.35 Million and it was recently listed for $3.35 Million.

It is not the rule, but there are serious and motivated sellers that are willing to make the deal happen. Don’t be afraid to be rejected with your first offer. Maybe that seller will reconsider your offer in 2 weeks or a month, as long as your offer is a reasonable one. If all properties available in a community are overpriced in the buyer’s perspective and are not selling, it is because they are at least 10 to 15% overpriced. Don’t expect to find that energy price in your dream property. Believe it or not, reasonable offers will educate the seller and will help us, the real estate professionals, to adjust prices to the level were bidding wars will occur and you don’t want to wait until that last minute to compete with other bidders.

The pool of buyers is out there, as ready as you are to buy, and has the same perception of the market that you do. However, if they start thinking in the same way I do, they will buy the property of your dreams today. Be aggressive and anticipate the market conditions!

$8K Buyer Bonus

Coldwell Banker is thinking outside the box - promoting its Buyer Bonus Event now through July 31. Buyers can get up to $8,000 credit back at closing., with flexible closing date - unlike the previous federal programs. Also, all homebuyers are eligible. Check out participating homes in Florida, Dallas/Fort Worth and Atlanta markets, or anywhere in the U.S.

If you're selling your home, are you participating in Buyer Bonus? If you're in the market to buy, what do you think about this special promotion?

President's Message - Atlanta

As we head into the spring and summer market in Atlanta, some bright spots in the real estate industry may be emerging. We’ve experienced several cloudy days in the past several months, but there’s reason to believe that we may be headed into an environment of partly cloudy to sunny skies.

Based on a recent article, in the Atlanta Journal-Constitution, the nation is on its way to recovery, but Georgia may be lagging behind. We’re hoping we’ve avoided the double-dip recession and that we will continue to see some bright spots in the economy. However, jobs numbers still need to stabilize and lending needs to get back to more secure footing, but all in all we may be headed out of the storm clouds.

According to numbers from the past month, we’re seeing a slight uptick in sales and mortgages. With inventory, new listings coming on market and expireds continuing to decline, these factors all point to a more positive outlook for the real estate industry. And, when you look at current home prices and the historically low interest rates available — there really has never been a better time to buy. Here’s to a successful 2010!

Charlotte Sears
President
Coldwell Banker Residential Brokerage, Atlanta

But officer, I did not do it!!

By Guest Contributor Cynthia da Silva, Sales Associate, Coldwell Banker Kendall Town & Country office

Many buyers, both first timers and veterans, have been caught up in the nightmare of purchasing a property with code violations. These can include illegal additions, work completed without permits or permits not closed out by final inspection. In addition to these bigger items, many buyers are not aware there can be issues such as violation notices or fines for a dog that belonged to the former owners and other cases which can become real headaches. For example, if a citation was issued for a dog that was not properly licensed and vaccinated, and the fine was not paid nor the violation corrected, then there is an "open" case which can result in larger fines and a possible lien against the property. Even condominium purchasers can be surprised by a violation notice that comes AFTER they purchase citing an air conditioner on the roof that has been replaced without a permit. This can be discovered by a building official doing an inspection on someone else's new a/c and taking the time to check ALL of the units up there. The bottom line: while it may not seem fair at all, the current owner is held responsible for code violations - no matter when or which previous owner may have created the situation. While closing some of these like the dog situation might be simple, it can be very time consuming and frustrating. Curing other violations can be expensive and may require starting with a new permit and possibly rebuilding or removing a structure built without permits and starting all over. Be sure your attorney or title agent does a full lien search and also check on www.miamidade.gov Home and Neighborhood - Code Enforcement section and/or Building Department.

Dallas/Fort Worth Strong U.S. Metro

RECON Real Estate Center at Texas A&M University Online News reported today that Dallas/Fort Worth/Arlington has the 10th strongest local economy in the nation. This isn’t a measure of the latest hotspots or boom towns, but areas with the best economic foundation, based on rapid, consistent growth in both size and quality over twenty years.

While many communities have slowed during the recession, the strongest economies have weathered the storm. Houston/Sugar Land/Baytown ranked fourth and Austin/Round Rock/San Marcos ranked 12th, according to Policom Corporation’s annual economic strength rankings.

The study measured 23 economic factors over a 20-year period, analyzing how an economy has behaved from 1989 to 2008. For the economic strength rankings for all areas, go to policom.com.

What are the advantages of doing business in an area with a strong economic foundation, versus a boom town? Can the latest hot spot build a strong economic foundation over time?

No Change to Fed Tune: Open Market Meeting Overview

By Guest Contributor Scott Tedesco , Senior Loan Officer, Sunbelt Lending Services.

The following was provided by the Mortgage Market Guide, compliments of Scott Tedesco.

They say "the only constant is change...", yet last week's meeting of the Federal Open Market Committee ended without any major changes...no change to the Fed Funds Rate, and no change to the now-famous verbiage in their Policy Statement, stating that rates will remain low for an "extended period" of time. While the Fed does not control home loan rates, what does all this mean for those seeking home financing in the months ahead?

There are two important things to note about last week's Fed meeting. First, despite strong earnings, a stronger Stock market, and better consumer confidence and housing numbers, St. Louis Fed President, Thomas Hoenig, remains the lone dissenter to the verbiage in the Policy Statement on keeping rates low for an "extended period." He feels that there is a strong risk of inflation ahead...and that the Fed needs to prepare the markets for the eventual hikes that will be coming to the Fed Funds Rate. When the Fed does indeed change this language, it will signal that the Fed has a consensus on inflation being a threat...and since inflation is the arch-enemy of home loan rates, the change in verbiage will cause rates to move higher. In addition, the Fed made no mention in their Policy Statement about selling any of their Mortgage Backed Security (MBS) holdings - and the added supply coming into the market will also cause home loan rates to rise. That said, the Fed may have discussed the topic during the meeting, and it could come up when the Meeting Minutes are released.

There is growing concern that if the Fed doesn't begin selling some of these MBS holdings by 2011 that additional asset bubbles may arise. It's likely that the Fed will look to sell a meaningful chunk by year end, and this will be yet another headwind for home loan rates during the coming year.

Mortgage Interest Rates below 5% again

Freddie Mac reported today that mortgage interest rates for this week as of close of business yesterday, are at the lowest they've been since December 2009. The cuurent 30-year fixed-rate mortgage averaged 4.93%, with an average 0.7 point, dropping over last week's average of 5.0%. The last time interest rates were lower was December 2009, when they averaged 4.81%.

If you've been thinking about buying, will this drop make a difference in actively shopping for a new home?

$5.4 Million for Field of Dreams

The baseball diamond and surrounding property near Dyersville, Iowa made famous by the 1980's "Field of Dreams" movie, is now up for sale for $5.4 million. This includes 193 acres, the diamond, a two-bedroom house and six outbuildings.

The property has been in the same family for more than 100 years. The current owners of 20 years are retiring and ready to move on.

Could this be your field of dreams? What type of buyer do you think will purchase this property?

Get Your Slice of Buyer Bonus & $8,000

Today marks two weeks since the launch of Coldwell Banker's Buyer Bonus Event. Check out all of the participating homes and get in on this special promotion.Nationwide, Florida, Dallas/Fort Worth or Atlanta markets.

Did you know that this stimulus was available to you as a buyer? If you're currently in the process of buying a participating home, tell us about your experience.

By Guest Contributor Brad Horner. President, NRT Development Advisors

LinkedIn recently announced upgrades to the site, many of which seem to mirror Facebook and Twitter’s features (including article excerpts, link sharing, ability to edit posts, ability to “share” posts, etc.). I think it’s a smart move, actually. LinkedIn has always provided a helpful way to stay in touch with professional networks, but it’s been underutilized in the past as Facebook and Twitter’s popularity skyrocketed. But these changes position LinkedIn to become a much more powerful tool for information sharing.

For agents, below are the top five ways to make the most of LinkedIn, helping you strengthen your connections and stay top of mind among your network.

1. Grow your network by joining groups. There are nearly 8,000 real estate groups on LinkedIn (including industry associations and networks); joining appropriate groups is an easy way to strengthen your connections to industry leaders and prospective clients. And many of these groups list their events, as well as those who plan to attend (if attendees have RSVP’d through LinkedIn). What a perfect way to ensure you have a presence at the same events as your prospective clients!
2. Ask for recommendations. Every company in every industry knows how powerful testimonials are, so let LinkedIn be a word-of-mouth marketing tool for you. Encourage satisfied customers and vendors to write recommendations about you and your company. The quotes will be published on your LinkedIn profile and broadcasted to their LinkedIn networks (possibly leading to referrals).
3. Promote events. Posting information about events can help drive participation, as you can encourage your network to attend and also encourage them to share the event information across their own networks.
4. Share thought leadership. Link to articles that would be of interest to your network, including a blog post that you authored, an article in which you’ve been quoted or a timely news item. Be sure to include a brief comment about why you are sharing the link.
5. Solicit feedback. Use your network as a virtual focus group and allow them to provide feedback to a question or idea that you post. You can even tape the wisdom of your network by asking them to participate in a poll.

And now that companies can be ‘followed’ on LinkedIn, as they can be on Facebook and Twitter, we hope that you will follow us! Click here to visit NRT Development Advisors’ page LinkedIn and follow our updates and successes.

Oh Baby, That's A Lot of Money!

$8,000, that is! When you think about all you can buy with that amount, it really puts the Buyer Bonus Event into perspective. If you haven't checked out Coldwell Banker's promotion yet, see program and property information in Florida, Dallas/Fort Worth and Atlanta markets.

What's on your wish list for $8,000?

Top 10 Reasons to Consider a Metal Roof in South Florida – Part 2

By Guest Contributor Melanie Dawn Wood, Sales Associate, Coldwell Banker Pinecrest North office

Here are some more reasons to consider a metal roof in South Florida:

6. ENVIRONMENTALLY FRIENDLY: Most metal roofing manufacturers use a minimum of 25% recycled content, and 98% of the finished product is recyclable. Asphalt shingles, by contrast, often contain asbestos which prohibits recycling under federal law. For new construction, a metal roof qualifies for credit towards LEED certification.

7. LIGHT WEIGHT: Metal roofing weighs as much as 75% less than slate, clay or concrete roofing, and approximately one-third less than asphalt shingle. This means homeowners will not be faced with additional structural requirements as can happen when switching to tile roofs; and your contractor may even recommend downsizing existing roof support.

8. BETTER INSTALLATION PROCESS: Metal roofs can be installed quicker than most other roofing systems, and can even be installed directly over the old asphalt roof. A metal roof is ideal for the minimally pitched roofs found on the MiMo style homes found in South Florida.

9. VARIETY OF COLORS AND STYLES: In addition to the classic standing seam style, metal roofs are now manufactured to look like regular shingles, barrel tile or even cedar shake. So whatever style your home is, you can find a metal roofing style to compliment it.

10. INCREASE YOUR HOME’S RE-SALE VALUE: According to the 2005 "Residential Cost Handbook," the appraised value of a home increases by $1.35 per square foot when a metal roof is installed. "Remodeling Magazine" reports that homes renovated with metal roofing gain between 1% to 6% in resale value over homes with asphalt roofing. It makes sense considering the long term transferable warranties, long life of the roofing system, lower maintenance costs and the substantial energy savings. A quality metal roof brings added beauty and value to your home that you and your future buyer will enjoy!

Below is a property with a metal roof currently being marketed by the Pinecrest office

3653 Oak Ave, Coconut Grove, FL, Listed at $399,000 (M1366467)

What to expect after the tax credit

By Guest Contributor Jessica Weston

Now that the April 30th tax credit deadline has passed, many of us real estate professionals are anxious to see what the immediate future holds. Will buyers continue to be excited about the incentives offered by homeownership or will they wait to see what the government will do next?

Fortunately, the tax credit didn’t seem to sway many buyers one way or the other, especially not like it did the first time in November of 2009. The main buying decision this season was price. And developers and builders have realized this. Now, more than ever, pricing is competitive and buyers are eager to take advantage of these steals. It’s cliché, but with interest rates threatening to rise, buyers who want to take advantage of this “buyer’s market” are eager to do so right now!

Many buyers believe the market is stabilizing and their confidence in their buying decision is growing. According to a Prudential Real Estate and Relocation Services survey found in an article on Yahoo News, consumers are “optimistic about real estate values, with 46% expecting prices in their area to increase over the next year”. This same survey showed that among the list of buyers concerns, the tax credits ranked the lowest, with rising mortgage interest rates, unemployment, and stricter lending guidelines being the highest.

There is no doubt the tax credit helped to stimulate the real estate market, but we are hopeful that consumer confidence in real estate continues to rise and that this consumer confidence in the economy as a whole will prove a stable real estate market is near. Once that stable market has proven to be here with employment on the rise, affordable housing prices and rising interest rates, we hope to see a boom in the sales for the summer 2010. I don’t have a crystal ball, but it seems we’re moving in the right direction!

America’s #1 Brokerage for 13th Consecutive Year

Coldwell Banker’s parent company — NRT — is ranked the top U.S. residential real estate brokerage for 2009, according to both the RISMedia Power Broker and REAL Trends 500 annual surveys. This is the 13th consecutive year NRT has earned the top spot nationwide for both closed sales volume and closed transaction sides from REAL Trends, a leading provider of trends and research for the residential real estate service industry.

recorded approximately $107 billion in closed sales volume and 274,179 transaction sides in 2009.

Check out the stats on RismMedia to see how NRT and the nation’s top brokerages ranked in 2009 sales volume and transactions (see April issue, page 70). On Real Trends site, you can see the surveys.

How does a company’s national rankings and sales statistics influence your decision to do business with them?

Dallas/Fort Worth Among Best in U.S. for Jobs

Open to moving for a job? The Dallas/Fort Worth area may be your best bet. Among the top U.S. cities for finding a job, the Dallas-Plano-Irving metro area is ranked fifth and Fort Worth-Arlington is seventh. For the second year in a row, half of the top 10 spots were in Texas, according to Newgeography.com's annual survey.

If you want a major city to call home, try Austin–Round Rock–San Marcos (#1), San Antonio–New Braunfels (#2), Houston–Sugar Land–Baytown (#3), Dallas-Plano-Irving (#5) and Fort Worth–Arlington (#7).

Among the mid-sized cities, take a look at El Paso (#5), McAllen-Mission-Edinburg (#6) and Corpus Christi (#7).

For those who prefer a small city, give College Station–Bryan (#3) and Killeen–Temple–Fort Hood (#4) a try.

The rankings are based on three-month rolling averages of monthly employment data from the Bureau of Labor Statistics from November 1999 to January 2010.

If you were looking for a job, would you relocate to city because it was ranked highly, continue to search for a job in your hometown or move to another destination?

Source: RECON Real Estate Center at Texas A&M University Online News, April 30, 2010

When selling your home consider a different approach!

By Guest Contributor Bob Romano

When selling your home, consider a different approach to reach your goal. Many home owners today want to move up, down or out of state to improve their lifestyle. Unfortunately many find themselves in a dilemma, their existing home is not worth what they feel they need to make the move.

Market conditions on average have effective home values in Georgia 22%, that’s a lot of value and for many it creates a situation that only time will fix. But for those with equity in their home, who are stuck because of the loss of value, thus preventing them from finding a great deal on a new home, there is a solution. However, it does require a paradigm shift.

Consider the approach of analyzing the net effect of selling your home at market value and buying a new home at a considerable discount, the net result should pay dividends. Price your existing home to sell in today’s market and go find yourself a equal or better value on your new home, any loss you may incur on your existing home can easily be recovered on your new purchase. Hire a professional to analyze your particular market and price your home to sell, and then get out and find an even better deal.

Keep in mind this is without a doubt the best time to buy a home I have seen in my 25 years in real estate. Don’t let it pass you by.

Top 10 Reasons to Consider a Metal Roof in South Florida – Part 1

By Guest Contributor Melanie Dawn Wood, Sales Associate, Coldwell Banker Pinecrest North office

A metal roof in South Florida may seem counter-intuitive. Under our summer sun, metal gets hot enough to cook an egg, right? But a metal roof actually reflects over 65% of the solar rays compared to only about 25% for asphalt shingle. And coated metal roofing also has a high degree of "thermal emittance," which in plain English means they cool off fast. So here are the first of my top ten reasons to consider a metal roof in South Florida:

1. SAVE MONEY ON YOUR UTILITY BILLS: An Oak Ridge National Laboratory study reports that a metal roof can save homeowners up to 40 percent in summer cooling costs. EnergyStar.gov estimates that an ENERGY STAR rated metal roof can reduce peak cooling demand by 10-15 percent.
2. REBATES AND TAX CREDITS: Through the end of 2010, installing a metal roof qualifies for a 30% credit (up to $1,500) on the cost of the roofing materials. FPL offers a $0.45 per square foot rebate for qualifying metal roofs.
3. DURABILITY: Metal roofs can last well over 50 if properly maintained, and most manufacturers provide transferable warranties of at least 20 years. Metal roofing is resistant to fire, mildew, insects and rot.
4. SAFETY: Most metal roofs are rated to withstand hurricane winds of 110 mph to 130 mph winds - an important consideration in South Florida. Metal roofs are also fire and hail resistant, and many manufactures include fire, hail and wind protection guaranties.
5. REDUCE YOUR INSURANCE PREMIUMS: Homeowner’s insurance companies in at least 20 states (including Florida) provide wind, fire &/or impact discounts ranging from 18% to 35% off annual premiums.

Below is a property with a metal roof currently being marketed by the Pinecrest office

19435 Ridgeland Drive, Miami FL, Listed at $398,000 (M1380150)

Mr. Seller – Want to be on the market or want to sell?

By Guest Contributor Anne Steinhauer Chakos, Sales Associate, Coldwell Banker, St. Armand's Circle Office

I spent yesterday looking at homes on the market with buyers who need to buy. We narrowed down their choices to two homes that are quite different from one another, but they share one common trait – they are over-priced.

It is common practice for listing agents to call or email the buyer’s agent after a showing to get feedback. Did the home show well? Are the buyers interested? One of the calls I received today was from the homeowner. He has a limited service listing on his home and he, not his agent, calls for feedback. He was friendly, direct and asked for an honest assessment of how his home showed. I obliged.

I told him his house was a stunner. One of the best homes I have shown these buyers. It was uncluttered and casually, but carefully, decorated with clean lines and a contemporary family-friendly feel. My buyers could picture their family there. I went on. “There are only two drawbacks, Mr. Seller. There is another home that fits their lifestyle a little better and (pause) we think your house is overpriced.”

I held my breath waiting for his response, and what did he tell me? He agrees it is priced high! There is room to come down, he says, just make an offer. We can negotiate. As a Realtor who works with both buyers and sellers, it frustrates me to hear this.

Why put your house on the market if you won’t price it to sell? In this market, more than any other, sellers need accurate sales data in their neighborhood in order to price their house to sell. Overpriced homes don’t typically sell and the sellers are disappointed, sometimes insulted, by the offers they get. In a year, after their house hasn’t sold, they sometimes regret not accepting the first offer they did receive.

Instead of wasting hours preparing for showings or open houses, watching other neighbors successfully sell their homes, ask yourself...do you want to be on the market? Or do you want to sell?

Now That's Something to "Write Home" About

Click on the image to find out more about the Coldwell Banker's Buyer Bonus Event!

A Week of Tips from CBs Green Agent – Day 7

By Guest Contributor Jenny May, Sales Associate Coldwell Banker - San Remo

Day 7. Take advantage of new tax incentives to improve your home.

Federal tax incentives are available through the American Recovery and Reinvestment Act of 2009. Energy efficiency incentives for upgrades to existing homes have been extended, and are now available for 2010. Florida has specific deadlines, so visit your state’s website for further instructions on State Incentives for Renewable and Efficiency.

These incentives include:

HOME ENERGY EFFICIENCY IMPROVEMENT TAX CREDITS Consumers who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in existing homes can receive a tax credit for 30% of the cost, up to $1,500, for improvements "placed in service" starting January 1, 2009, through December 31, 2010. See EnergyStar.gov's Federal Tax Credits for Energy Efficiency for a complete summary of energy efficiency tax credits available to consumers.

RESIDENTIAL RENEWABLE ENERGY TAX CREDITS Consumers who install solar energy systems (including solar water heating and solar electric systems), small wind systems, geothermal heat pumps, and residential fuel cell and microturbine systems can receive a 30% tax credit for systems placed in service before December 31, 2016; the previous tax credit cap no longer applies.

What's in Your Toolbox?

Coldwell Banker's nationwide Buyer Bonus Event is now in its second week. If you missed out on the tax credit, you might want to check this out. You can get a 3% credit back when you close if you pick a participating property. The seller can agree to up to $8,000 cash back in your pocket! if you were to put that cash back into outfitting your toolbox, you could buy over 600 screwdrivers!

What creative ideas do you have for spending $8,000 on multiples of one item? What do you think of the Buyer Bonus Event?

Announcing Short SaleSolutions Program

By Guest Contributor Terri Bersach, CRB, CRS, TRC, CIPS, SFR, 2010 Chairman of the Board, Realtor® Association of Greater Miami and the Beaches and Manager at the Coldwell Banker Weston office

In South Florida, we have a huge number of potential short sales that don’t close or end up in foreclosure despite strong demand from qualified buyers. We see instances where buyers make offers and wait months to hear back from lenders and simply move on. This inactivity and inefficiency represent significant impediments to the South Florida real estate market and markets across the U.S. with a prevalence of upside down mortgages.

To improve the issues currently associated with short sales, RAMB in partnership with the Greater Miami Chamber of Commerce (GMCC) has launched ShortSaleSolutions, a landmark national pilot program designed to expedite and improve the short sale process in South Florida. Local lenders and loan services are invited to join.

This program will shorten the processing time for short sales, reduce staff time, decrease the number of expensive foreclosures, and significantly improve the South Florida real estate market. Participating lenders and servicers will receive significant benefits, promotion, exposure, and results. Realtors and homeowners will benefit from quicker sales and the prevention of potential foreclosures that are typically more detrimental on both a financial and a personal level. Once many of these short sale transactions are handled in an expeditious manner, the causes of many current foreclosures will be eliminated.

“We believe that the ShortSaleSolutions program, which has been created by RAMB, could make a significant difference in improving the housing situation in the South Florida market,” said Juan Jaureguizar, Vice President and Servicing Manager in the Ocean Bank Residential Mortgage Department. “Ocean Bank is excited about the opportunity to participate in this program.”

“We believe we can establish a plan of action which will provide all parties to the transaction with an opportunity to create higher efficiencies and a better result for our customers and the professionals that serve them,” said Charles Richardson, Coldwell Banker Regional Senior Vice President of Southeast Florida. “From a financial perspective, everybody will win if we all work together.”

ShortSaleSolutions is an innovative program that was created by RAMB to streamline the short sale process and is a model that will be able to be used to help markets across the U.S. Sellers should contact their RAMB agents to see if their lenders are participating.

A Week of Tips from CBs Green Agent – Day 6

Contributed by Jenny May, Sales Associate Coldwell Banker - San Remo

Day 6. If you buy a new refrigerator, don’t leave the old one plugged in.

Avoid the temptation to use the old fridge as a backup for party supplies and liquid refreshment. The extra storage space will cost you: figure an extra $50–150 per year in electricity to keep that older fridge running. In contrast, the new fridge, particularly if Energy Star rated, may cost only $30–60 per year to run because refrigerator efficiency has improved so much in the past three decades. Under these circumstances, think about how much refrigeration you really need. The best rule is to have only one refrigerator, and to size it to meet your real needs. That allows the luxury of ice-makers and similar conveniences with a clear conscience.

Also consider configuration. A similarly sized refrigerator with a top-mount freezer will use 20 to 25 percent less energy than a side-by-side model and often offers more usable refrigerator and freezer space.

A Lifetime of Bandaids

If you purchase a participating listing in Coldwell Banker's Buyer Bonus Event you could receive up to $8,000 at closing. Hopefully your new home comes with an extra large medicine cabinet - $8,000 will buy you 54,422 bandaids!

Dallas-Fort Worth - Low Risk of Home Price Decline

The Texas housing market fared far better than other states during the current downturn, and the state’s economy is expected to continue to do better than the rest of the nation, according to a Real Estate Center at Texas A&M University study.

The study determined the larger the share of housing expenditures in a consumer’s budget, the more home prices have fallen in their region since 2007. Dallas/Fort Worth’s consumers spent the smallest share of their incomes on shelter, compared to other major cities nationwide.

Dallas/Fort Worth also had the nation’s smallest home price decline, according to the study.

What are your thoughts? If consumers need to spend less of their income for housing, will they will boost the economy more quickly because they have more money to spend on non-housing goods and services?

A Week of Tips from CBs Green Agent – Day 5

By Guest Contributor Jenny May, Sales Associate Coldwell Banker - San Remo

Day 5. Replace incandescent lightbulbs with compact fluorescent lamps (CFLs).

CFLs can save three-quarters of the electricity used by incandescence. Most people don’t think about the fact that the electricity to run a light bulb costs much more than the bulb itself. One of the new CFLs costs about two or three dollars, but it lasts 10,000 hours and uses only about 27 watts to generate as much light as a 100-watt incandescent bulb. During its life, it uses about $22 in electricity, so the total cost is about $25. A 100-watt incandescent bulb costs 50 cents, but lasts 1,000 hours so you need 10 of them ($5 to buy) to last 10,000 hours. In those 10,000 hours you will use 1,000 kilowatts of electricity, which will cost more than $80 at a national average price. So the lighting cost of the CFL is less than one-third of the cost for the incandescent. The best targets for replacement are 60- to 100-watt bulbs used several hours a day, because usage affects how long it takes to recover the investment. See your local hardware or lighting stores for further information.

30 laptops for $8,000

Purchase a home participating in Coldwell Banker's Buyer Bonus Event and you could receive up to $8,000 back at closing! Before that money burns a hole in your pocket, head over to your favorite electronics store and pick up 30 laptop computers. That's right, $8,000 will buy you 30 laptops.

A Week of Tips from CBs Green Agent – Day 4

By Guest Contributor Jenny May, Sales Associate Coldwell Banker - San Remo

Day 4. Improve the efficiency of your hot water system and bathroom fixtures.

Hot water systems - First, turn down the temperature of your water heater to the warm setting (120°F). Second, insulate your hot water lines so they don’t cool off as quickly between uses. Third, use low-flow fixtures for showers and baths. You can find further information by visiting your local water authority (Miami Dade Water and Sewer Department- WASD) or visiting their website at http://www.miamidade.gov/conservation.

According to Miami Dade WASD, after the toilet, the shower is the second-heaviest water user in the home, using up to 30 percent of total household water. Having a high-efficiency showerhead is a very practical way to reduce water consumption during bathing. It not only reduces your water bill, it reduces your sewer and energy bills as well. This method of water conservation has a very short payback period, often as short as a few months.

Typical non-conserving showerheads have flow rates of 5 to 8 gallons per minute, meaning that a typical 5-minute shower would send about 25 - 40 gallons of fresh water down the drain and into the sewer. By contrast, the high-efficiency showerheads being exchanged by WASD use only 1.5 gallons per minute, or 7½ gallons for a 5-minute shower, reducing water demand by at least 50%.(Courtesy of SAHRA - Arizona Board of Regents website) WASD’s high-efficiency showerheads are a fashionable white and include built-in massage, on/off valve and a swivel head for user comfort and convenience.

$8,000 Buys A Lot of Lawn Mowers

True, the federal tax credit program has expired. But, if you find a home participating in Coldwell Banker's Buyer Bonus Event, you could stand to get $8,000 back in your pocket when you close!

If having a yard is on your list of must haves, think of all of the lawn mowers $8,000 can buy - try 54!!!

What would you buy with $8,000 for your new home?

Northwest Broward: Real Estate Market Report

By Guest Contributor Chris Maccarone, Managing Broker of the Coldwell Banker Residential Real Estate Coral Springs office.

www.Floridamoves.com/Coral Springs

The Northwest Broward County housing market has been very busy this year! As can be seen by the data in the charts, 1st Quarter 2010 shows robust growth in some cities compared to 1st quarter 2009. The hottest price ranges are under $250,000. We are also starting to see some movement in the $500,000 and higher price range. It's interesting to note that while single family home prices seem to be stabilizing after a steady decline over the last couple of years, the condo market is still struggling a bit. Overall our local market in the NW corridor of Broward County is improving. It's a great time to buy!

SINGLE FAMILY HOMES - 1ST QUARTER COMPARISON
2009 vs. 2010
CITY	Sale #	Sale #	%	Avg Price	Avg Price	%
	2009	2010	Diff	2009	2010	Diff
Coral Springs	165	159	-3.6%	$278,135	$279,219	0.4%
Parkland	77	61	20.8%	$548,749	$603,695	10.0%
Coconut Creek	58	50	13.8%	$224,162	$225,666	0.7%
Margate	92	113	22.8%	$136,088	$217,490	59.8%
Tamarac	87	134	54.0%	$138,949	$134,980	-2.9%
Source: Realtor Association of Greater Ft. Lauderdale Multiple Listing Service
CONDO/TOWNHOMES - 1ST QUARTER COMPARISON
2009 vs. 2010
CITY	Sale #	Sale #	%	Avg Price	Avg Price	%
	2009	2010	Diff	2009	2010	Diff
Coral Springs	147	244	66.0%	$72,243	$60,675	-16.0%
Parkland	6	8	33.3%	$197,942	$188,738	-4.6%
Coconut Creek	115	170	47.8%	$74,303	$65,596	-11.7%
Margate	77	124	61.0%	$59,721	$47,262	-20.9%
Tamarac	126	210	66.7%	$78,623	$70,051	-10.9%
Source: Realtor Association of Greater Ft. Lauderdale Multiple Listing Service

 

10355 NW 69th Manor, Parkland	12638 NW 9th Ct., Coral Springs	5560 Fairway Park Dr Unit #105, Boynton Bch