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181 Articles Found

New Listing

1551 West Ave #4

The Daria Condo

Miami Beach

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2 Beds | 2 Baths | 1,082 SF

$469,000

.

Mediterranean style charm meets South Beach modern style. Top level remodel, gourmet kitchen with gas stove and granite counter tops, solid wood flooring. Schlage smart lock, Nest controlled AC, and smoke detectors. Corner unit brings natural light with windows on all 3 sides. Ideal location close to shopping and restaurants at world famous Lincoln Road. Renovated exterior with tropical landscaping. 1 parking spot, washer / dryer un unit. This beautiful 2 bedroom, 2 bathroom apartment has all you can ask for in South Beach.



 

just L I S T E D

112 Allen Road

West Park

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OPEN HOUSE

Saturday, October 17

10:00am - 12:00pm

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3 Bed | 2 Bath | 1,109 SF

Listed at $279,900

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Drive into your charming & convenient carport into this beautifully kept single-family home in the sought after neighborhood of Miami Gardens Estates in West Park. A freshly painted 3 bed, 2 bath home w/ tile & bamboo floors throughout. Master bedroom, accompanying master bath & walk in closet, can be found on their own side of the house allowing for optimal privacy. Interior features include newer appliances in kitchen & laundry room, electric water heater, crawl space / extra above head storage in two of the rooms, vaulted ceilings, recessed lighting in kitchen & alarm system. Head out the back onto the screened patio into a sprawling & fenced in back yard which includes its own shed and allows for storage of RV. House equipped w/ exterior cameras / lighting & panel hurricane shutters.

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Seller represented by Nicole Krech



 

just L I S T E Dโœ”๏ธ
Victoria Park๐ŸŒณ
1625 NE 5h Court
Fort Lauderdale
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3 ๐Ÿ› 2.5 ๐Ÿ› 2,220 SF๐Ÿ“
Listed at $869,000
.
Completely remodeled, stunning turnkey home in the heart of Victoria Park. In addition to its desirable layout for entertaining guests, this home was designed w/ utmost thought, intention & style. Interior features include: Florida room, brand new kitchen w/ SS appliances, built-in entertainment bar + wine cooler, LED recessed lighting throughout, vaulted ceilings, fireplace, master suite on its own floor w/ modern bathroom, plantation shutters, crown molding, full audio speaker system, custom built-in closets, NEST Thermostat, custom alarm system & 2 new AC condensers/units. Exterior features include: pool, removable pool fence, custom lanai tiki hut, front exterior turf landscaping, 1 car garage, extra refrigerator in garage & hurricane shutters. This wont last!



 

Under C O N T R A C T

Tall Trees Condo #106

North Miami Beach

1 Bed | 1 Bath | 658 SF

Last asking: $109,000



 

Homeowners in forbearance don’t have to make payments until at least March 2021. After that, a foreclosure may take years to finalize and owners might return to work.

JACKSONVILLE, Fla. – According to a report from Black Knight based on previous natural disaster recovery patterns, mortgage delinquencies aren’t expected to return to pre-pandemic levels until at least March 2022.

Black Knight estimates that once the first wave of forbearances hit their 12-month expiration in March 2021, there may be more than 1 million excess delinquencies once forbearance ends. Looking upon that as if it’s a natural disaster, according to the report, 90-day delinquencies typically peak around three to four months later. In addition, a final foreclosure in Florida can take years since it must go through the court system.

COVID-19 has put upward pressure on serious delinquencies for five months now. In that time, a chasm widened between early stage delinquencies, which dropped 9% in August, and serious delinquencies, which saw a 5% gain in the same month.

Nevertheless, August’s gain marked the mildest increase in five months, suggesting that 90-day mortgage delinquencies could be nearing their peak.

In September’s projected numbers, 88.9% of first-lien mortgage holders made their monthly payment, compared to 88.6% in August and 87.5% in June. Black Knight estimates that the overall national delinquency rate may fall in September if increased payment activity persists during the last week of the month.

Source: HousingWire (10/05/20) Roha, Alex

© Copyright 2020 INFORMATION INC., Bethesda, MD (301) 215-4688



 

Under C O N T R A C T โœ”๏ธ
919 Van Buren Street
Hollywood Lakes โ›ต๏ธ
3 ๐Ÿ› 2.5 ๐Ÿ› 3,056 SF๐Ÿ“
.
Last asking: $800,000
.
Talk about good bones!
Excited to see the “after” once all renovations have been completed!
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Buyer represented by
Lisa Yanowitz ๐Ÿ‘ฉ๐Ÿป‍๐Ÿ’ป



 

While you may not think about your roof every day, you want to make sure that your roof stays in good shape and remains leak free. To do so, regular inspections need to be performed. But how often should that happen? According to the National Roofing Contractors Association, you should check your roof at least twice of year, during fall and spring. The mild weather of those seasons can help make inspecting the roof easier and it also allows you to ensure that your roof will be prepared potential seasonal weather hazards. While it may not be easy to complete an inspection as often as recommended, doing so will help prevent minor roof damage from leading to serious problems.

Preventing minor problems from turning into major ones will also save you money in the future. Your bi-yearly check can be done yourself unless you find reason for concern. Here are some things to look out for when doing a DIY inspection:

  • Broken or missing shingles

  • Cracked or curling caulk

  • Patches of moss/lichen

  • Worn or peeling plastic rubber boots around pipes or other roof projections

  • Cracked or rusted spots on metal flashings

  • Shingles that are blistering, cracking or buckling

  • Loose, cracked or rusted gutters

  • Crumbling or missing chimney mortar

  • Tree branches or other large debris

If during your own inspection you notice any cracked or rusted flashings or gutters, crumbling or missing chimney mortar, sunken spots in the roof, or several shingles that are buckling, cracking or missing, you should call a roofing company. A professional roofer can inspect both the inside and outside of your roof and give you peace of mind about the safety of your roof and your home.



 

U.S. Housing Roars Back Despite Recession, High Unemployment

By Alex Veiga

Moody’s Investors Service expects the homebuilding sector to be stable for at least the next 12-18 months. Housing’s strength has been driven by ultra-low mortgage rates, fierce competition for a chronically low inventory of for-sale properties and a wave of new millennial buyers.

LOS ANGELES (AP) – The U.S. housing market has staged a furious comeback this summer, even as the economy struggles to regain its footing after being knocked into a recession due to the coronavirus.

After stalling in the first few weeks of the pandemic, U.S. home sales have surged in recent months to the highest level in more than a decade.

The strength in housing has been driven by ultra-low mortgage rates, fierce competition for a chronically low inventory of properties on the market and a wave of millennials and others increasingly vying to become homeowners.

At the same time, the uneven economic fallout from the pandemic, which has hurt many low income Americans while leaving many white collar workers relatively unscathed, has helped keep the downtrodden economy and job market from being a drag on the housing market’s comeback.

“Housing is one of the strongest sectors of the economy this year,” said Jeff Tucker, senior economist at Zillow. “For Americans whose finances are still intact, folks with good credit who didn’t lose their job, they’re forging ahead buying their first home.”

Sales of previously occupied U.S. homes have risen three months in a row after slowing sharply in March, April and May. They climbed to a seasonally adjusted annual rate of 6 million homes in August, the fastest pace since December 2006, according to the National Association of Realtors.

Demand for newly built homes has also been red hot. Sales rose in August by 4.8% to a seasonally adjusted annual rate of 1.01 million units, according to the Commerce Department. New home sales are now up about 43% from this point last year.

Mortgage rates have been a key driver for the market. They’ve fallen this year to record lows, increasing buyers’ purchasing power. The average rate on a 30-year home loan was 2.90% last week, according to data from mortgage buyer Freddie Mac. A year ago, the rate averaged 3.64%.

Perhaps the biggest factor in the housing comeback, though, is the severe imbalance between supply and demand for homes. As of August, 1.49 million homes were on the market, a drop of 18.6% from a year earlier.

The dearth of homes for sale at a time when more millennials are entering their 30s, marrying and looking to buy a home, has helped push up prices. The median price for a previously occupied single-family home reached $315,000 in August, up 11.7% from last year, according to the Realtors group.

While it took home sales years to recover after the Great Recession that began in late 2007, sales have been quicker to bounce back in the current recession because of the shortage of properties on the market.

“It’s the opposite this time around: We have too many buyers and not enough housing,” said Jay McCanless, a housing analyst at Wedbush Securities. “Lack of supply probably gives this demand wave a longer runway than it would otherwise.”

A strong job market tends to be a predictor for housing market strength. The surge in home sales this summer, even though the economy has only recovered about half of the 22 million jobs lost to during the pandemic, points to an uneven economic hardship.

“Housing is a bit of a window right now into the fact that this recession has really hit lower-income people much, much harder than higher-income people,” Tucker said. “The other part of the story here is that the market for who is able to get into homeownership has become a more exclusive club in the last several years.”

Economists expect the housing market will continue to strengthen, despite uncertainty about when the economy will recover from the pandemic.

More than 100 economists and real estate experts are forecasting home prices to increase 3.7% this year and continue growing in 2021, according to a recent survey sponsored by Zillow.

Moody’s Investors Service expects the U.S. homebuilding sector to be stable for the next 12-18 months, citing the strong demand for homes, though the ratings agency flagged concerns about the “stubbornly high” unemployment rate.

Homebuilders have been in a prime position to capitalize on the increased demand for homes, and the growth in sales has been a boon for builder stocks. Most are up for the year and have fared better than the S&P 500 during the stock market’s September swoon.

McCanless has “Outperform” ratings on four builders: Lennar, TRI Pointe Group, Toll Brothers and Taylor Morrison Home.

“There’s still upside room to my target price on all four,” he said. “I would be buying those at these levels.”

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.



 

C L O S E D sale

Lauderdale Shores

2316 Castilla Isle

Fort Lauderdale

3 ๐Ÿ› | 3.5 ๐Ÿ› | 2,698 SF ๐Ÿ“

Closed for: $2,200,000

.

Buyer represented by Lisa Yanowitz



 

Fla.’s Housing Market: Sales and Median Prices Rose in August

By Marla Martin

Florida Realtors’ data: More sales, higher median prices, more new pending sales and more new listings year-over-year. Single-family sales up 8.8%; condo sales up 10.3% – and sales in the upper price tiers paved the way for the surge, says Chief Economist Dr. Brad O’Connor.

ORLANDO, Fla. – Florida’s housing market reported more closed sales, more new pending sales, higher median prices and more new listings in August compared to a year ago despite the ongoing pandemic, according to Florida Realtors® latest housing data. Single-family existing homes sales rose 8.8% compared to August 2019.

“Florida’s housing market continues to gain momentum and provide support for the state’s economy, even as we all remain vigilant in protecting our health, safeguarding our communities and trying to keep businesses going during the ongoing pandemic,” says 2020 Florida Realtors President Barry Grooms, a Realtor and co-owner of Florida Suncoast Real Estate Inc. in Bradenton. “Our homes have become more important than ever over the past few months as we’ve dealt with stay-at-home orders, working from home, helping children with remote education and more.

“Realtors are available in every community to help guide buyers and sellers through today’s challenging market conditions.”

Last month’s closed sales of single-family homes statewide rose 8.8% year-over-year, totaling 29,495, while existing condo-townhouse sales increased 10.3% over August 2019 and totaled 11,100. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

In August, the statewide median sales prices for both single-family homes and condo-townhouse properties rose year-over-year for 104 months in a row. The statewide median sales price for single-family existing homes was $300,000, up 13.2% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations.

Last month’s statewide median price for condo-townhouse units was $217,500, up 14.5% over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.

According to Florida Realtors Chief Economist Dr. Brad O’Connor, sales in the upper price tiers for both existing single-family homes and existing condo-townhouse properties paved the way for the surge in closed transactions.

“Sales of single-family homes of $1,000,000 or more were up nearly 82% year-over-year, while sales in the $600,000 to $1,000,000-range were up almost 72%,” he says. “And, as was the case in the single-family category, condo and townhouse sales of $1,000,000 and above increased by 63.5% from last August, and sales in the $600,000 to $1,000,000-range rose by more than 71%.”

O’Connor adds, “The fact that upper-tier properties are leading the resurgence of the housing market at this early stage shouldn’t really be a surprise to any student of economic history. In most recessions, the stock market is one of the first things to recover, and that’s certainly been the trend this time around, just as it was during the Great Recession. Of course, there’s no guarantee that the stock market will continue to trend in its current direction, as there remains a great deal of uncertainty out there. However, stockholders have recovered a substantial amount of asset wealth that they lost during the drop earlier this year; they’re now financially in a good position to reallocate their assets – including into and out of real estate as they see fit. And since stocks are disproportionately held by the wealthier individuals among us, that translates into a lot more real estate sales activity among the upper tier of properties.”

New listings rose year-over-year in both property type categories in August, up by 2% for single-family existing homes and 15.1% for condo and townhouse units.

“Still, this hasn’t been enough to push our inventory growth into positive territory.” O’Connor says. “This is simply an issue that isn’t going to go away overnight.”

On the supply side of the market, inventory (active listings) remains restricted, particularly in the single-family existing home category, which was at a limited 2.3-months’ supply in August. Condo-townhouse inventory was at a 5.3-months’ supply.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 2.94% in August 2020, down from the 3.62% averaged during the same month a year earlier.

To see the full statewide housing activity reports, go to Florida Realtors Tools and Research section. Realtors also have access to local market data (password protected) through Florida Realtors’ SunStats resource.

© 2020 Florida Realtors®



 

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181 Articles Found

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New Listing Miami Beach
New Listing 1551 West Ave #4 The Daria Condo Miami Beach . 2 Beds | 2 Baths...

Just Listed | West Park
just L I S T E D 112 Allen Road West Park . OPEN HOUSE Saturday, October...

Just Listed | Victoria Park
  just L I S T E Dโœ”๏ธ Victoria Park๐ŸŒณ 1625 NE 5h Court Fort Lauderdale . 3...

Report: If Foreclosures Hit Market, It Wonโ€™t be Until 2022
Homeowners in forbearance don’t have to make payments until at least March 2021....

Under Contract - Tall Trees Condo
Under C O N T R A C T Tall Trees Condo #106 North Miami Beach 1 Bed | 1 Bath |...

How often should I check my roof?
While you may not think about your roof every day, you want to make sure that your roof...

Under Contract - Hollywood Hills
Under C O N T R A C T โœ”๏ธ 919 Van Buren Street Hollywood Lakes โ›ต๏ธ 3 ๐Ÿ› 2.5 ๐Ÿ› 3,056 SF๐Ÿ“ . Last...

U.S. Housing Roars Back Despite Recession, High Unemployment
U.S. Housing Roars Back Despite Recession, High Unemployment By Alex Veiga Moody’s...

Closed Sale | Lauderdale Shores | Fort Lauderdale
C L O S E D sale Lauderdale Shores 2316 Castilla Isle Fort Lauderdale 3 ๐Ÿ›...

Fla.โ€™s Housing Market: Sales and Median Prices Rose in August
Fla.’s Housing Market: Sales and Median Prices Rose in August By Marla Martin Florida...

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