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35 Articles Found

JUST REDUCED !

OPEN HOUSE

T O M O R R O W

Saturday, August 24th

11:00am-2:00pm

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461 NE 53rd St, Miami FL

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Renovated home in the gated Morningside neighborhood. High-end plumbing finishes & electrical fixtures, Bosch appliances, Silestone counter tops & backsplash. Master bedroom suite opens out to the amazing outdoor deck & modern pool. Naturally lit custom design kitchen w/ skylight & access to rear deck. Porcelain floors throughout, 2 air conditioning systems controlled by Nest, LED lighting, & Ring camera & doorbell for security. Living room has vaulted ceilings & fireplace. Guest room/office den features en suite bathroom & direct access from exterior of home. All new landscaping & patio deck. Impact doors & windows.

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4 Bed | 3 Bath | 1,996 SF

Now offering for $1,239,000

Morningside in Miami



 

2671 NE 46th Street

Boca Raton

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From their Fort Lauderdale townhome as a newly wed couple to this beautiful home in Boca Raton perfect for their growing family. We’re so happy you found your dream home.

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4 Bed | 2.5 Bath | 2,994 SF

Sold for $785,000



 

OPEN HOUSE - TOMORROW

11am-2pm

Victoria Park Place

3 Bed | 2.5 Bath | 1,957 SF

This tri-level townhouse in the exclusive gated neighborhood of Victoria Park Place is ideally located in east Fort Lauderdale minutes from the beach, Las Olas, Galleria Mall, & Downtown. This updated 2 bedroom + den/loft (which can easily be converted to the 3rd Bed) has tons of natural light, open floor plan inclusive of kitchen, dining & living room which overlook the private, lush multi level patio. @ Victoria Park Place



 

WASHINGTON – On Oct. 15, the Fla. condo market could open up for first-time buyers after Oct. 15, 2019, after the Federal Housing Administration (FHA) issued new mortgage rules that will qualify more condo complexes and units for FHA loans.

The new FHA condominium approval regulation – and a new Condominium Project Approval section of the Single Family Housing Policy Handbook – are a comprehensive revision to FHA condominium project approval policy.

The policy released by the U.S. Department of Housing and Urban Development (HUD), which oversees FHA programs, will be published in the Federal Register on Thursday, Aug. 16, and become official 60 days after publication.

Of special interest in Florida, which has a preponderance of condo units, is a new policy that will make some individual condominium units eligible for FHA mortgage insurance even if the condominium project isn’t FHA approved.

“It goes without saying that condominiums are often the most affordable option for first-time homebuyers, small families and those in urban areas,” says National Association of Realtors® (NAR) President John Smaby. “This ruling, which culminates years of collaboration between HUD and NAR, will help reverse recent declines in condo sales and ensure the FHA is fulfilling its primary mission to the American people.”

The new rule, once effective:

  • Introduces a new single-unit approval process to make it easier for individual condominium units to be eligible for FHA-insured financing
  • Extends the recertification requirement for approved condominium projects from two to three years
  • Allows more mixed-use projects to be eligible for FHA insurance

The majority (84%) of FHA-insured condo buyers have never owned a home before. While there are more than 150,000 condominium projects in the U.S., but only 6.5% are approved to participate in FHA’s mortgage insurance programs. Under the new policy, FHA estimates that 20,000 to 60,000 condominium units could become eligible for FHA-insured financing annually.

Single Family Policy Handbook guidance

To complement the FHA condo change, a new Single Family Handbook section provides the additional requirements lenders need to implement FHA’s new policy, including requirements for single-unit approvals, minimum owner occupancy requirements, and commercial/non-residential space limits.

Single-unit approvals

After Oct. 15, FHA will insure mortgages for selected condominium units in projects that aren’t approved under current rules. An individual unit may be eligible for Single-Unit Approval under the following conditions:

  • The individual condominium unit is located in a completed project that is not approved
  • For condominium projects with 10 or more units, no more than 10% of individual condo units can be FHA-insured, and projects with fewer than 10 units may have no more than two FHA-insured units

Minimum owner-occupancy requirements

FHA will require that approved condominium projects have a minimum of 50% of the units occupied by owners for most projects.

FHA insurance concentration in condominium projects

FHA will only insure up to 50% of the total number of units in an approved condominium project.

Commercial/nonresidential space limits

FHA will require that the commercial/non-residential space within an approved condominium project not exceed 35% of the project’s total floor area.

NAR’s latest existing-home sales report recorded condo sales at a seasonally adjusted annual rate of 580,000 units – a decline of 3.3% from May and a 6.5% drop from the same time last year. Out of more than 8.7 million condo units nationwide, only 17,792 FHA condo loans have been originated in the past year.

“Condos are typically more affordable than a detached single-family home, but only a small fraction of condos are FHA-certified,” NAR Chief Economist Lawrence Yun said last month.

© 2019 Florida Realtors®



 

Grant Beach House

Hollywood Vacation Rental

Wake up & live the ultimate beach lifestyle at Grant Beach House. A home re-designed to be a boutique style oasis & ultimate beach getaway. Situated between the intracoastal & just steps away from Hollywood Beach, its boardwalk, and Margaritaville everything you could hope for is either a short walk, car ride, boat ride, or bike ride away. Whether you're visiting as a family or with a group of friends, everything you need & want for a comfortable & memorable stay, whether to entertain or relax, is provided.

3 Bed | 3 Bath | 1,450 SF

2 parking spaces

Fully furnished / equipped



 

WASHINGTON – According to a study by Fannie Mae, 34% of first-time homebuyers in 2018 did not shop around before choosing a lender – and 41% of repeat buyers did the same.

Nearly two-thirds of borrowers who only reviewed one quote before obtaining a mortgage said they chose not to compare competing offers because they were either comfortable with the lender who provided the initial quote or were satisfied with the quote itself. Another 10% said it was too much hassle to shop around.

Since buyers don’t realize how much money they might have saved, however, most reported that they were happy with their mortgage – 76% who obtained only one quote said they didn’t have regrets.

Fannie Mae chief economist Doug Duncan noted that most buyers in the study “still reported trying to negotiate mortgage terms with somewhat less success than those who did shop around.”

Fannie Mae says that more than a third of buyers who obtained multiple quotes successfully negotiated a lower interest rate, and many also secured lower costs associated with mortgage insurance, origination fees and appraisal fees.

Meanwhile, a May study from LendingTree found that mortgage borrowers who received five or more offers saw a spread of $2,045 between the highest and lowest fees proposed to them.

Source: MarketWatch (08/05/19) Passy, Jacob

© Copyright 2019 INFORMATION INC., Bethesda, MD (301) 215-4688



 

Whether this is your first time moving or your 10th, there are always new tips and tricks to making your move a little more smooth each time. While we are so concentrated on getting everything packed in a timely manner, we often forget about the little steps we can take to save ourselves time, money, and even a little bit of sanity. Here are 8 tips to make your move, and your life, a little easier.

1. Wrap your breakables in clean clothing

Instead of spending extra money on bubble wrap, use clothing that you will need to pack anyway. You'll save space and it is the most eco-friendly option!

2. Be specific with your labels

Instead of just writing what room the box will go in, make a brief list of the items in each box on the outside. This way, you will know exactly where every box should go - and so will anyone helping you move in!

3. Prep the bathroom and kitchen

If you have the time and are able to enter the house before your big move, take the time to prep your bathroom and kitchen. Fill the fridge and bring towels and a shower curtain for the bathroom. This way, you won't be scrambling after you move in and desperately want a shower, and you won't waste money on take-out for the first few days in your new home.

4. Get cotton pads/balls for your makeup

If you've ever dealt with the heartache of opening a shattered powder cosmetic item, this tip is for you. Placing a cotton ball/pad helps to prevent your favorite blush or bronzer from covering the entire inside of your packed bathroom box and everything inside of it!

5. Add an extra layer of protection to your toiletries

It is never fun to open a box and find everything covered in lotion or shampoo. Take off the lids of all of your toiletries and cover any openings with saran wrap and then replace the lid. This will provide a nice seal to prevent any spills.

6. Use Press'n Seal outside of the kitchen

Instead of having to box up your dresser drawers or your jewelry display, keep your Press'n Seal unpacked. Place sheets above your clothing drawers or wrap it around your jewelry display to keep your items in place - and save time packing and unpacking them.

7. Keep a box of small sandwich bags by your side while packing

When you need to take something apart, there may be screws or nails or clips left once everything is disassembled. Use small bags that are easily labelled to place those items so they won't get lost and you will know exactly where they are when it is time to put everything back together!

8. Take photos of everything you need to take apart

Whether it is the way wires go into your television, or the way a certain piece of furniture connects, taking photos as you go will make reassembly that much easier. Who wants to helplessly fumble with wires after they've spent all day unpacking? Save your time and sanity and take the photos!



 

OFF MARKET LISTING! 🔑

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Pocket Listing that’s ready to be snatched up! This dreamy oasis is located on a quiet street in the desirable gated neighborhood of Highland Lakes. Contact us for more information and pricing on this unique opportunity.

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4 Bed | 3 Bath | 3,011 SF



 

After all of the preparation required to list your home, you are probably ready to relax and wait for offers. While most of the hard work is done, it is important to keep in mind things that you may run into during the sale process. As you begin to welcome potential buyers into your home, here are a few things to expect now that your home is listed!

1. You might feel like you live in a museum.

You may have spent a great deal of time cleaning and decluttering, but now you are going to need to maintain that cleanliness. Potential buyers are going to expect a home that was as neat as the listing photos they saw, so it is important to meet their expectations. Now that you have officially listed your home, maintenance is necessary. There may be showings where you don't have time to do a full deep-clean, so choosing to keep your home 'show-ready' will help reduce any stress about the appearance of your home for a showing.

2. There will be some inconveniences.

Now that you've realized your home needs to be 'show-ready' at all times, you might be starting to think that there could be an inconvenience or two during this part of home-selling. While your real estate agent will be helpful in this process, you may need to switch around plans during the evenings or weekends when you are typically home so that your home can be shown.

3. Expect to hear critiques and criticism.

This is often the main thing that first-time home sellers struggle with. It is not always easy to hear the issues a potential buyer may have with the home you have created. While some criticism can feel insulting, it is important to remember that it is not personal. Potential buyers are not trying to hurt your feelings, they just want to picture your home as their own. Your agent can be a key part in buffering criticism. They will be able to take suggestions from potential buyers and relay it to you in a way that is helpful and constructive.

4. Home maintenance will be crucial.

While maintaining home cleanliness is important, you will also need to keep up with maintenance tasks. Your lawn will need to be mowed, your heating and cooling systems need to be operating properly, as well as any appliances that will be staying when your home sells.

5. There can be some additional expenses.

After you've accepted an offer, the closing process will begin. There will be inspections and final walk-throughs, and this can bring about issues that may need resolved before the sale is closed. Depending on the issue, you may need to pay out-of-pocket for repairs so that you don't need to negotiate your sale price.

If you're ready to sell your home and need someone by your side to guide you as you prepare to list, give me a call today!



 

WASHINGTON – Just a few years ago, more than a third of homebuyers didn’t blink at throwing down cold hard cash to make their purchases. But the share of all-cash homebuyers has trended down since 2014, and the decline has accelerated in recent months.

In June, just 16% of homebuyers paid in cash, down from 23% in February, according to the National Association of Realtors. The rest bought the old-fashioned way – by taking out a mortgage. Applications for home loans jumped 9.5% last month from a year earlier, according to the Mortgage Bankers Association.

The shift can be traced to several factors, including a less competitive, more buyer-friendly market and tumbling mortgage rates.

The trend could be good news for a sluggish housing market in which existing home sales fell 4.2% the first half of the year compared with the same period in 2018, according to NAR figures.

The slowdown may partly reflect a drop in cash deals and the rise in purchases of homes using mortgages, says Ian Shepherdson, chief economist of Pantheon Macroeconomics, an economic research firm. Since mortgage applications can take a couple of months to process, the lag could mean there will be a surge in home sales this fall, painting a brighter housing picture, he says.

Here are some reasons cash sales have lost favor:

Bidding wars have faded

When competitive bidding was the rage, “People were cashing in their savings, such as 401(k) plans … in order to beat out” rival bidders who needed mortgages, says Jessica Reinhardt, a broker at RE/MAX Alliance in Denver. Sellers loved cash offers because they meant quick purchases with few hassles.

In many cases, parents gave cash gifts to their kids to buy homes. And some real estate brokers even put up cash for their clients, says Jessie Culbert, a Redfin agent in Seattle. “You needed cash to stand out,” she says. Often, she says, the buyers then took out loans to quickly repay whomever provided the funds.

But the market has cooled as home prices climbed beyond the reach of many buyers. Last month, just 12% of purchase offers handled by Redfin faced competitive bids, down from 51.7% a year earlier.

As a result, shoppers who would have come with cash a year or two ago are taking out mortgages.

Investors have pulled back

Fifty-seven percent of investors – who buy homes to rent them out or make repairs and then sell for a big profit – pay in cash, NAR says. Yet the share of home purchases made by investors has declined from 11.3% in 2018 to 11.1% so far this year, according to a housing research firm CoreLogic.

Many are less eager to buy homes than they were a few years ago on fears that prices may have peaked. Nationally, average home prices have risen 55.2% from their 2012 bottom and are 12.6% above their pre-housing crash peak, according to the S&P CoreLogic Case-Shiller home price index.

“Investors naturally have become more cautious,” says Lawrence Yun, chief economist of the National Association of Realtors.

Also, foreign purchases of American homes fell 36% in the 12 months ending in March compared with the previous 12-month period, partly because of a sluggish global economy and tighter capital controls by China, according to the National Association of Realtors.

Falling borrowing costs

Mortgage rates have decreased sharply since last year, which makes home loans more affordable. The average 30-year fixed mortgage rate was at 3.75%, down from 4.54% a year earlier, according to Freddie Mac. That has led many buyers who might have put up cash – whether investors or owners who plan to live in their units – to obtain mortgages instead, Shepherdson says.

Some investors get mortgages

Some investors still are in the market but higher home prices are forcing them to turn to mortgages, says Ralph McLaughlin, deputy chief economist of CoreLogic. Darius Smith, a Detroit developer, has always paid cash for units that cost $10,000 to $20,000, including renovations, he says. But now, he says, the same units cost $60,000 to $80,000, and so he likely will begin taking out mortgages. “The cost for things is way higher than it was,” he says.

The stock market swoon

The big sell-off in stocks late last year may have spooked homebuyers who intended to pay in cash, Shepherdson says. They may have seen the drop in share values as a sign of a coming recession that also would have clobbered home values.

“Making a cash purchase means the buyer is exposed dollar for dollar to any decline in home prices,” Shepherdson says.

Copyright 2019, USATODAY.com, USA TODAY, Paul Davidson



 

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35 Articles Found

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Copyright ©2019 - Realty Times®
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Just Reduced! - Open House
JUST REDUCED ! OPEN HOUSE T O M O R R O W Saturday, August 24th  11:00am-2:00pm . 461...

JUST CLOSED - Colonnade at Glen Oaks
2671 NE 46th Street Boca Raton . From their Fort Lauderdale townhome as a newly...

Open House - Victoria Park FTL
OPEN HOUSE - TOMORROW 11am-2pm Victoria Park Place 3 Bed | 2.5 Bath | 1,957 SF This...

New Rule Will Approve More FHA Loans for Condos
WASHINGTON – On Oct. 15, the Fla. condo market could open up for first-time buyers...

Grant Beach House
Grant Beach House Hollywood Vacation Rental Wake up & live the ultimate beach...

1/3 of Buyers Could Save $2K by Mortgage Shopping
WASHINGTON – According to a study by Fannie Mae, 34% of first-time homebuyers in...

Moving Tips To Make Your Life Easier
Whether this is your first time moving or your 10th, there are always new tips and tricks...

Highland Lakes Off Market Listing
OFF MARKET LISTING! 🔑 . Pocket Listing that’s ready to be snatched up! This...

What To Expect After You List Your Home
After all of the preparation required to list your home, you are probably ready to relax...

Drop in Cash-Sale Investors Could Help First-Time Buyers
WASHINGTON – Just a few years ago, more than a third of homebuyers didn’t blink...

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