Market Trends

For Buyers

Buying in Miami is Cheaper than Renting

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.

Spoken by Maggie Dokic | Discussion: Comments Off on Buying in Miami is Cheaper than Renting

$8,000 Homebuyer Credit Extension Update

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.

Spoken by Maggie Dokic | Discussion: Comments Off on $8,000 Homebuyer Credit Extension Update

Palmetto Bay Homes For Sale – Clarification of Bargains

I read this article today and can go along with most of what’s being said. I have to take issue with one small item there though. Zip code 33157 is touted as being Palmetto Bay and while a part of Palmetto Bay is certainly in zip code 33157, 33157 also encompasses parts of Cutler Bay as well as Miami.

This minor detail will make a difference in the way Palmetto Bay listings are viewed. The article states that there are 758 listings in 33157 which is Palmetto Bay. While there are 758 listings in 33157, only 197 of those are in Palmetto Bay. The rest are in Cutler Bay and Miami. As a matter of fact, the entire Village of Palmetto Bay has only 254 single family homes listed for sale at this very moment, which is considerably less than the 758 attributed in the article.

I’m not denying the overall point of the article. It is a great time to pick up a great home at a great price. And using a knowledgeable REALTOR® to guide you makes sense. Oh, and we are paid by the seller usually, so it doesn’t cost you anything. Now doesn’t that sound sweet?

Spoken by Maggie Dokic | Discussion: Comments Off on Palmetto Bay Homes For Sale – Clarification of Bargains

These articles are not intended to give legal or tax advice, and you should consult your attorney or financial advisor for additional information.

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