OPEN HOUSE!!!
2021 SW 83 AV
beautiful updated home in very good condition. Located on a quiet street and neighborhood. Gated back yard with plenty of space to build an addition if needed or pool. Plenty of yard space on either side of the home to store away a boat or a trailer. A must SEE! You will fall in love the moment you walk into this charming home.
ONCE AGAIN OUR OPEN HOUSE IS THIS SUNDAY , SEPTEMBER 5TH 2010 FROM 2:00 PM TO 5:00 PM
What you need to know about hiring a contractor
Planning to remodel your home? Take these steps to ensure you hire a reputable contractor who will get the work done right and on time.
Take a field trip. To truly appreciate how a contractor operates, you have to see him in action. So once you have narrowed your list to at least three prospects, ask to visit other jobs in progress. You will be able to see how he treats his crew, how tidy he is on site and how well he works with clients.
Cross the T's and dot the I's. If the project involves a home built before 1978, the contractor should be certified by the Environmental Protection Agency to handle lead paint. Ask the contractor to have his insurer send you proof of insurance. (In most states, the minimum liability coverage is $300,000 per accident.) And the contractor should get the permit for the job, not you. Otherwise, you are on the hook if his work is not up to code.
Divide and conquer. Your best leverage for getting the job done right is to pay in stages. Some states actually limit down payments to 10 percent of the contract price; others allow one-third down. If building materials need to be ordered, you can arrange for early payments to meet those costs. Schedule later payments based on project milestones — such as 15 percent when the foundation is laid, 10% when the walls are framed and so on. Hold out 10% or more until the job is finished to your liking.
Be precise. Don't just say you want windows — specify that you require, say, Andersen Tilt-Wash Double-Hung windows — and eliminate any "or equal" clauses in boilerplate contracts. Such language gives contractors wiggle room to select materials you may not like. If the project is big, such as building an addition on to your home, get a lawyer to draft the contract.
Get it in writing. Document every change to the project with a change order to avoid legal headaches and confusion over what you wanted.
Contractors, subcontractors and building-material suppliers can issue a mechanic's lien against your property if payment is disputed. To protect yourself, have the builder acknowledge in writing that subcontractors and suppliers have been paid through the date on the check for each phase of the project.
NEW YORK (CNNMoney.com) -- With home sales plunging to their lowest level in 15 years, economists warn that a double-dip in housing prices is just around the corner, threatening to further slow the overall recovery.
Existing home sales sank 27.2% in July, twice as much as analysts expected, to a seasonally adjusted annual rate of 3.83 million units. Much of that drop is attributed to the end of the $8,000 homebuyer tax credit.
That credit brought buyers out in droves, as they tried to sign home contracts before the April 30 deadline. Now, two months later, sales are 34% below April's tax incentive-induced peak.
"Home sales were eye-wateringly weak in July," said economist Paul Dales of Capital Economics. "It is becoming abundantly clear that the housing market is undermining the already faltering wider economic recovery. With an increasingly inevitable double-dip in housing prices yet to come, things could get a lot worse."
The sales pace of all homes -- single-family homes, townhomes, condominiums and co-ops -- is at the lowest since NAR began tracking the figure in 1999. Sales of single-family homes, which account for a bulk of the transactions, are at the lowest level since May 1995.
Inventory has also continued to climb, rising 2.5% to 3.98 million existing homes for sale. That represents a 12.5-month supply at the current sales pace, the highest since October 1982 when it stood at 13.8 months. A six-month of supply is considered normal.
The combination of weak demand and glut of homes has put downward pressure on prices.
And as the recession proved, the housing market and the broader economy are closely intertwined. When housing prices collapse, so does the overall wealth and confidence of Americans.
"Falling housing prices strain the overall confidence in the economy and discourage Americans from spending," Dales said. "They also mean that banks lose money on their investments and curtail lending, meaning there is less money out there to invest and boost the economy.
The NAR report showed that the median price of homes sold in July was $182,600, up 0.7% from a year ago. Just under a third of homes sold during the month were distressed properties.
Though prices have yet to fall back, Dales expects they will decline about 5% from current levels over the next six months.
On the bright side, Dales said while a drop prices will put a dent in the economy recovery, it won't lead to another recession.
"The bulk of the downward adjustment in housing prices has been achieved over the last several years, so we're not headed for a complete disaster," said Dales. "We're going to see a double-dip in housing prices, but not a double-dip in the overall economy."
Sales by property and region: Sales of single-family homes sank 27.1% in July compared to the prior month, while condominium and co-op sales tanked 28.1%.
The Midwest fared the worst last month, with sales dropping 35% to an annual pace of 800,000 units in July. that's 33.3% lower than a year earlier.
Resales in the Northwest dropped 29.5% from the previous month to an annual pace of 620,000 units.
They fell by 25% in the West and 22.6% in the South.
School kicked off in some unconventional ways across Miami-Dade and Broward counties, as more than 600,000 students went back to classes Monday.
A group of tech savvy teens in Miami-Dade were greeted with iBooks and pop music, and elementary kids in Miramar received backpacks from Miami Heat players. Some students in both counties met in temporary quarters, as they await their new schools to be built.
``In this day and age of public education, we have to be flexible,'' said Broward Public Schools Superintendent Jim Notter. ``There is no cookie-cutter model to education.''
So when buildings aren't ready or students need some extra attention, it is up to the schools to meet the needs, Notter said.
This year, students who attend Hollywood's newest school, Beachside Montessori Village K-8, are temporarily being housed at the two existing schools -- pre-k through fourth at Bethune Elementary and fifth through eighth at Attucks Middle -- until the Montessori building can be completed.
At Bethune, Beachside parents brought their children in one door; Bethune parents the other. Although it's all at one location, the district is treating them like separate schools.
``It's a little crazy, but I think they're doing the best they can,'' said Kim Heller, whose two children are enrolled in the new Montessori, dropping them off at Bethune.
For Charter Schools USA, finding temporary digs for Renaissance Charter Middle School in Doral was the only way the students could start on time.
The company found space at the Miami Hilton Airport Hotel.
Jon Hage, president and CEO of Charter Schools USA, said the hotel has been used by other Miami-Dade public schools needing a temporary location.
``It's secure. It's isolated. There are classrooms set up,'' Hage said. ``It allows for learning to take place just as well as in a school.''
For 18 Miami-Dade teenagers starting at the iPrep Academy in downtown Miami, their new digs are anything but ordinary.
``When I walked into the room, my friend and I literally said that it looks like an Ikea,'' said Keisey Fumero, 16. ``It's cozy. It's going to be a fun environment.''
The walls are painted shades of yellow, blue and magenta. The classrooms are furnished with plush leather couches and decorated with large mirrors, retro lamps and colorful throw pillows.
It sounds different, too. There are no bells. Music from artists like Coldplay and Adam Lambert plays in the background. The students will eventually be able to upload their own playlists.
The new magnet school seeks to reinvent high school by making it relevant to today's tech-savvy teenagers. Each student receives an iBook.
The teens will meet for group classes in the morning, but will spend the afternoon working independently on Advanced Placement and honors classes via the Internet. Like college students, they'll be allowed to take classes that interest them.
``We'll get to work at our own pace,'' said Christopher Barnes, 16. ``It's a way to prove that we can do things on our own.''
Throughout the day, the teens have access to the school iCafe, where they can purchase wraps, smoothies and powerbars. There's a Wii hooked up to a large flatscreen TV, too.
``This is a school for you,'' said Miami-Dade Schools Superintendent Alberto Carvalho, who is also the school's principal. ``It was designed and conceptualized with you in mind.''
The school is still accepting applications from interested 11th-graders.
At Miramar Elementary, 6-year-old Robert Childs stood between his parents, his tiny arms outstretched as both his mother and father held his hand.
The tiny first-grader stood in a snaking line, waiting for Miami Heat players -- including Patrick Beverley, Kenny Hasbrouck and Dexter Pittman, dancers and team mascot Burnie -- to hand out backpacks filled with pens, notebooks and crayons.
Robert gave a grin, showing missing front teeth.
``I want to play basketball!'' he told his parents.
Also getting a new backpack was first-grader Emmanuel Jason Rodriguez. Emmanuel just moved to South Florida from North Carolina and was going to school for the first time since being home-schooled.
Having basketball players on hand to help get Emmanuel excited was ``a blessing,'' said his mom, Carmen Rodriguez.
``He said, `Oh, Mom, now I wonder what they're going to do tomorrow!' ''
4 Big Money Mistakes of First-Time Homebuyers
First-time homebuyers almost always make a few mistakes when buying their home. Perhaps they pay too much, choose the wrong type of mortgage or neglect to budget for needed home improvements.Working with a trustworthy, experienced lender can help prevent such mistakes. But consumers also need to take responsibility for their budgets and choices.
"Before buying a home, consumers need to develop a short- and long-term perspective on their purchase," says Michael Harrison, area director for MetLife Home Loans in Southwest Ohio.
Following are the four biggest financial mistakes of first-time homebuyers:
1. Spending the Maximum on Housing
Lenders qualify buyers based on their incomes and debt-to-income ratios without considering how much the borrowers spend on items such as transportation, savings, food and other necessities.
"A lot of first-time buyers are optimistic about the future and excited about buying a home, so they borrow the absolute maximum they can afford instead of allowing themselves wiggle room for a partial loss of income or for future expenses such as children," Harrison says.
Financial experts recommend that consumers decide how much they want to spend each month on housing before meeting with a lender.
"Every buyer should create their own budget and know their limits," says Stephen Adamo, president of Weichert Financial Services in Morris Plains, N.J.
Adamo says many first-time homebuyers experience a sizable change in their housing payments. Some new owners may go from $500 per month in rent to a monthly mortgage payment of $2,000, he says.
"You need to deal with payment shock," Adamo says.
2. Not Getting Prequalified Early Enough
Meeting with a lender for a buyer consultation and prequalification for a mortgage should be the first step toward homeownership. Yet many first-time homebuyers wait until they are ready to start house hunting before contacting a lender.
"It's never too early to set up a free buyer consultation with a lender," Adamo says. "Every buyer needs to get prequalified early enough in the process so that they can make some changes if they need to or correct errors on their credit report."
Some buyers may need to spend up to a year saving more money, increasing their incomes or cleaning up their credit before making an offer on a home.
A buyer consultation should include creating long-term financial goals and strategies for buying property, Adamo says.
3. Misunderstanding the Importance of a High Credit Score
While most consumers know it's important to have a high credit score, not everyone understands how costly a low score can be.
"All mortgage lending is done with a tier of interest rates and terms based on consumer credit scores," Harrison says. "A credit score of 720 or above will earn you the best rates and can potentially save you thousands of dollars."
A score of 680 to 720 can get you good mortgage rates, while a FICO score of 620 is usually about the lowest score to qualify for most loans, Harrison says.
Consumers should learn about credit scores the minute they start working, Harrison says.
Websites such as Bankrate provide information about how to improve your credit score.
Even after a mortgage approval, consumers must avoid applying for new credit or taking on new debt, Adamo says, because a second credit check is often required before settlement.
4. Choosing the Wrong Mortgage Product
First-time homebuyers today typically opt for a 30-year fixed-rate mortgage. Their conservatism is a reaction to stories about the dangers of interest-only mortgages and adjustable-rate mortgages.
But Harrison says home loan alternatives to a 30-year-fixed sometimes make more sense. For example, buyers certain they will be relocated by their companies within five years may find a 5/1 ARM "could be a much better mortgage," he says.
"There's no reason to pay a premium for a product you don't need like a 30-year loan," Harrison says.
Homebuyers eager to build equity in their homes or who are older and want to live mortgage-free in retirement should consider a 15-year fixed-rate loan or, if they can afford it, even a 10-year mortgage to reach their goals.
Now is the time!!!
Don't miss out on the opportunity to be an investor. Take advantage of low interest and high inventory. Take a tour of a few of our listings below. Perhaps you or someone you know is looking for an opportunity to jump on one of these great properties.
New property laws take effectRelated ContentProperty tax news unlikely to be happy for South Floridians.
There are a couple of new laws property owners should keep in mind as the 2010 property tax season kicks off.
If you've added buildings, additions or other improvements to your property, you can be spared from the standard retroactive taxes that have been charged in the past.
The state Legislature passed a law this year providing relief for homeowners that have added improvements, buildings or other changes to their property. If the homeowner reports the additions to the county property appraiser before Jan. 1, the improvements will only be reflected in their 2011 assessments. Under normal circumstances, once additions are discovered, the homeowners would be responsible for up to three years worth of back taxes for the value of the improvements.
Also, if your home is severely tainted with Chinese drywall, your property should be valued at $0, because of a law passed this year in the state Legislature. If the building is uninhabitable, owners will not have to pay property taxes on it until it is repaired, the law states. Homeowners still have to pay taxes on the land the property sits on, and Non Ad-Valorem taxes will also be required. Affected homeowners should provide their county appraiser documentation showing that their homes contain the drywall, which emits sulfur odors and can cause structural damage.
OPEN HOUSE !!
2021 SW 83 AVENUE
This is a beautiful updated home in very good condition. Located on a quiet street and neighborhood. Gated back yard with plenty of space to build an addition if needed or pool. Plenty of yard space on either side of the home to store away a boat or a trailer. A must SEE! You will fall in love the moment you walk into this charming home.
Once again our OPEN HOUSE is SATURDAY AUGUST 14, 2010 at: 2:00 PM / 4:00 PM.
This client investor just purchased a 3-plex in the heart of Miami. Got her a Great Price! Needs some repairs. No problem! Contempo Property Management came to save the day. Quoted her a great price ready for tenants with a 11% Cap Return. Not Bad!
Click on the link below in order to view the video!
http://www.youtube.com/watch?v=tcaq6CXihq8
NEW YORK (CNNMoney.com) -- New home sales rebounded in June from the record low hit the previous month but remained sluggish.
New home sales increased 23.6% to a seasonally adjusted annual rate of 330,000 last month, up from an downwardly revised 267,000 in May, the Commerce Department reported Monday. Sales year-over-year fell 16.7%. The June sales pace is the second slowest ever on record since the Commerce Department began tracking the data in 1963. But it was slightly better than the annual rate of 310,000 economists were expecting, according to a consensus survey by Briefing.com. "While the increased rate was positive, it's a bit of a head fake based on the decline we had with May's lower revision," said Anika Khan, Wells Fargo economist. "And if we look at other indicators, like mortgage application volumes and builder sentiment, we can see that the housing market remains very weak. Home sales had surged in March and April as homebuyers scrambled to sign contracts ahead of the April 30 deadline for the tax credit. But sales plummeted 40% in May, the first month after the incentive expired. Khan said the end of the tax credit will likely trigger a couple more months of "payback," but then the housing recovery will pick up, though at a snail's pace. "We're coming from extremely depressed levels, so it will probably be another two years before we get to a point where we see anything even vaguely close to a normalized rate," she said. Khan added that the factors that will continue to stall the recovery are added tight lending practices, rising foreclosure and delinquency rates, and a sluggish labor market.
Price and inventory: The government report showed that the median price of new homes sold in June was $213,400, down 1.4% from May and a 0.6% drop from June 2009. An estimated 210,000 new homes were for sale at the end of June, the lowest inventory level in nearly 42 years. At the current sales pace, the government expects it will take 7.6 months to sell through that inventory, down from 9.6 months in May. Six months of inventory is considered normal market conditions.
Sales by region: Sales rose the most in the Northwest, where they surged by more than 46%; the South saw sales climb by about a third, while sales in the Midwest increased 21%. Sales in the Midwest, the only region to suffer a decline during the month, edged down almost 7%.
NEW YORK -- Stocks rose moderately Monday after a better-than-expected jump in new home sales and an increase in the profit outlook for shipping giant FedEx Corp.The Dow Jones industrial average rose 37 points in late morning trading, moving back into the black for the year.Major stock indexes rose after the Commerce Department said sales of new homes increased to an annual rate of 330,00 units in June. The gain came after sales hit a record low in May. The sales came in ahead of the estimates of economists polled by Thomson Reuters. The home sales gain gave investors a glimmer of hope for the embattled housing market and sent prices for homebuilders higher. D.R. Horton Inc., Lennar Corp. and Toll Bros. Inc. rose more than 2 percent after the report.Sales had fallen sharply in May after a tax credit for home buyers expired at the end of April. Investors have been concerned that the credit was propping up the housing market and that sales would stay at low levels now that buyers have fewer incentives.FedEx gave the market more encouraging news about the economy by raising its earnings forecast. Like UPS Inc., FedEx is seen as an economic bellwether since companies tend to ship more when their orders increase. FedEx said it was seeing better than expected growth in its overnight and ground delivery businesses.Stocks have rallied in recent days as more companies reported strong second-quarter results and improved outlooks for the coming quarters.In morning trading, the Dow rose 37.39, or 0.4 percent, at 10,462.09. The Standard & Poor's 500 index rose 5.18, or 0.5 percent, to 1,107.84, while the Nasdaq composite index rose 9.51, or 0.4 percent, to 2,278.98.About three stocks rose for every one that fell on the New York Stock Exchange, where volume came to 229.4 million shares.Bond prices dipped after the housing report. The yield on the 10-year note, which moves opposite its price, rose to 3.01 percent from 3.00 percent late Friday. That yield helps set interest rates on mortgages and other consumer loans. D.R. Horton rose 38 cents, or 3.5 percent, to $11.23. Lennar jumped 53 cents, or 3.5 percent, to $15.46, while Toll Bros. rose 40 cents, or 2.3 percent, to $17.87. FedEx jumped $3.60, or 4.6 percent, to $82.57. Investors are watching a key technical level on the S&P 500 of 1,110. Pushing above that level would indicate optimism is growing in the market. However if the market cannot climb and hold above that level, it could lead to a pullback, analysts said. The S&P briefly rose above 1,110 earlier in the day. Earnings reports are likely to be a big driver of trading again this week as hundreds more companies in the S&P 500 release results.
Earnings results due out Tuesday from oil company BP will be closely watched because of reports that CEO Tony Hayward will step down and that the company could take a big charge to cover costs of cleaning up the oil spill in the Gulf of Mexico.
BP shares jumped $1.52, or 4.1 percent, to $38.38.
Investors are also preparing for the first reading on second-quarter gross domestic product, the broadest measure of economic growth.The second-quarter report, due out Friday, is expected to show just modest growth after stronger gains earlier in the year. The slowdown is being forecast because of the withdrawal of government stimulus measures.Even with a modest slowdown, there are no signs that the economy is going to fall back into recession, says Jim Meyer, chief investment officer at Tower Bridge Advisors."The rolling over of the economy Wall Street thinks it sees just isn't taking shape," Meyer said. European markets rose slightly as investors had their first chance to react to a series of tests that assessed the health of the continent's big banks. Regulators said only seven of the 91 banks tested would struggle if the European economy and government debt problems worsened. Britain's FTSE 100 rose 0.4 percent, Germany's DAX index rose less than 0.1 percent, and France's CAC-40 gained 0.4 percent. Japan's Nikkei stock average rose 0.8 percent.
HOLDING A CAREER FAIR FOR ALL FUTURE REAL ESTATE AGENTS !!
Being held on SATURDAY, AUGUST 7, 2010. All potential agents will have the opportunity to have a quick interview with the broker, meet with all the Contempo Realty staff and gain information of our training. Will be accepting resumes. Sandwiches and drinks will be served.
OPEN HOUSE !!!!!!!
6930 SW 95 AVENUECOME SEE THIS BEAUTIFUL 5/4 BEDROOM CORNER HOME, LOCATED IN A GREAT NEIGHBORHOOD. ALL KITCHEN APPLIANCES ARE UPDATED AND WITH A NEW REMODELD GAZEBO THAT WILL PROVIDE A GOOD PLACE FOR ENTERTAINMENT. IT EVEN HAS AN AUDIO SOUND AND ALARM SYSTEM LOCATED IN EVERY ROOM THAT ALLOWS YOU TO VIEW THE FOUR SIDES CORNER OF THE PROPERTY, EXCELLENT FOR SAFETY! SELLER IS MOTIVATED TO SELL. SO COME AND BRING YOUR BEST OFFER. Once again our HOPE HOUSE is on JULY 31, 2010 at: 2:00 PM / 4:00 PM. SANDWICHES AND DRINKS WILL BE SERVED.
For further information please call our CONTEMPO office at : 305-461-6420 . Ask for Hazel or Silvana.
OPEN HOUSE !!!
This is a beautiful updated home in very good condition. Located on a quiet street and neighborhood. Gated back yard with plenty of space to build an addition if needed or pool. plenty of yard space on either side of the home to store away a boat or a trailer. A must see!!! You will fall in love the moment you walk into this charming home.
Once again our HOPEN HOUSE is on SUNDAY AUGUST 15 at 2:00 pm / 4:00 PM
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