For Buyers
Buying a House Now Makes Sense
October 28th, 2011 Categories: For Buyers, Real Estate Chatter
Buying a home in Miami today just makes sense. The special combination of low prices plus really low interest rates means you save on both counts. Mortgage rates are the lowest they have ever been since they started keeping track. Did you get that? The lowest. And home prices are back to what they were 10 years ago in many areas. Anyone able to take advantage of this will look back in 10 years and pat themselves on the back.
People are always asking me “are banks lending money these days?” They’re always surprised when I answer with a resounding, “YES!” Here’s the deal, they’re lending money to people who can prove that they are creditworthy. That means the person must have verifiable employment (those stated income loans are long gone, thankfully), a good credit score and history plus some funds to put down and reserves left over.
Doesn’t that sound like common sense? It is. What happened during the Miami real estate boom was pure crazyness. People were qualifying for loans because requirements were non existent. You had a pulse? You got a loan. That’s not a very responsible way to lend money, is it?
If you’re one of those with decent credit, you can benefit by qualifying for a loan and buy what could be the best deal ever. But don’t take my word for it. Bloomberg Businessweek is saying the same thing. They’re even using words like epic. Epic Home Deals Await the Creditworthy. That’s their article title. And they’re not exaggerating either. It really is epic. Awesome. Incredible even. Well, you get my drift.
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Buying in Miami is Cheaper than Renting
February 5th, 2011 Categories: For Buyers, Market Trends
Inman news has an article of the top cities in America where buying is cheaper than renting. Miami heads the list. But this is not news to me. As a dedicated real estate professional, I have known this all along and so have my customers.
With interest rates still at an all-time low and loan programs available for qualified buyers, it makes sense to buy and invest in your future.
You can read the article here. If you’d like help getting out of your rental and into your own home in the Miami areas I service, please contact me.
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Mr. Homebuyer, Here’s Why I Didn’t Send That One
January 26th, 2010 Categories: For Buyers
Like most agents in the Miami real estate market, I have quite a number of buyers I am working with. Several months ago I started making sure that I always meet with each one before we start working together to make sure they understand the process. We also make sure they’re qualified and that we’re a good “fit” for one another.
Even so, I occasionally end up with the very eager buyer who thinks he can help me out by riding around his preferred neighborhoods and call me with addresses to look up for him.
Inevitably, there is always a reason why I haven’t sent him this particular home to review online. It’s not because I missed it. I want to sell him a house as much as he wants to buy one. Really!
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Packing Tips to Get You Moving
January 7th, 2010 Categories: For Buyers, For Sellers
Packing Tips to Get You Moving
Packing is one of those dreaded but necessary chores of moving. Not only is it time consuming, but it sheds light on how much we really have accumulated since the last move. But it can be a manageable task by starting early and having a plan.
Don’t wait until the last minute.
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Miami Homebuyers – the Timing is Still Right
January 5th, 2010 Categories: For Buyers
- There’s Still Time
Still wondering whether you should be buying that Miami home? First-time homebuyers dominated the U.S. real estate market in 2009, accounting for roughly half of all residential transaction, according to the National Association of REALTORS®.
That trend is likely to continue well into the new year. That’s because interest rates are hovering near all-time lows, home-price affordability is near all-time highs and a third factor – Congress’ extension of the first-time homebuyer tax credit until April 30, 2010 – make conditions quite favorable for those considering homeownership for the first time. Homes in Miami are once again affordable!
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$8,000 Homebuyer Credit Extension Update
October 30th, 2009 Categories: For Buyers, Market Trends
Almost daily I am asked by Miami home buyers if “the credit” has been extended. The deadline for the current credit is fast approaching (Nov. 30th) and if you’re not in contract already to buy a house, it is unlikely that you will be able to take advantage of the present credit.
BUT today we have news of being closer to a decision on whether the credit will be extended and/or expanded. The Senate has come up with the following:
- Keep the amount capped at $8,000
- Extend the close date to June 30, 2010 (must be under contract by April 30)
- Raise the qualifying income limits to $125K for singles & $250K for joint taxpayers (limits are presently $75K & $150K respectively)
- Add a separate credit (up to $6,500) available to existing homeowners who have been in their home 5 of the previous 8 years before closing
The Senate still has to vote on the above and the House of Representatives could come up with it’s own version. But this step brings us closer to a decision.
If you’ve been looking for a Miami home and hoping to qualify for the credit, you still may be able to. Stay tuned.
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