The brunt of the economic crisis particularly within the real estate industry is now really falling on most homeowners who have mortgages turned upside down. The shrinking market value of properties is indeed resulting into a negative equity for the hapless homeowners who have mortgages. In turn this has caused a great deal of distress, panic, nervousness and emotional upset for many that some feel the only option is to just walk away.

Until the market can regain its lost footage, no quick solution is in sight. If you are upside down on your mortgage and are in a position where you need to move -- whether it is because of a job transfer or an unexpected layoff -- the most ideal option is to keep your home until you are no longer upside down. This can be achieved by saving money to match your negative equity or waiting for the market to pick up. Three alternatives are suggested below in the order of best to worst in relation to your overall financial and emotional well-being.

Option 1: Borrowing the money

You can resort to this option as long as you are slightly upside down.  Meaning if your negative equity is still at a manageable level; you are not in such a tough place. By borrowing money to get out of the pinch, you are  protecting your credit score and ensuring that you will be able to get another loan in the not so distant future. The best place to get such a loan would be from a friend or family member. If you do not have relatives to take a loan from, there are other alternatives. You can turn to the federal government. If you, your child, or your spouse is enrolled in college, you may be eligible to take out an additional student loan. The federal government will allow students and parents to borrow money in excess of actual tuition and fees to cover living expenses. It would not be uncommon for students and parents to be able to borrow an extra $7,000 or $8,000 per semester which is available in cash. These loans have a relatively low interest rate (between 6% and 8%), are repayable over a long period of time, and their interest is generally tax deductible.

Option 2: Negotiating a short sale

Short selling is when you negotiate with the mortgage lender to accept a fair market price for the home instead of the amount that you actually owe. This is more likely to be accepted when home values in a certain area have dropped significantly. Though mortgage lenders are not required to modify your agreement and accept less than you owe, they may be willing to because it may prevent a foreclosure, which is very expensive for a bank. Short selling is similar to foreclosing, but it will ultimately cost the bank less money and permit you to buy another home a bit sooner. It is preferable to a foreclosure.  Each lender to borrower scenario varies depending on the circumstances.  If interested in short selling your home it is highly recommended you consult with a real estate agent who is experienced working with short sales.

Option 3: Foreclosure

Obviously this is the worst alternative for everyone. Your credit score will be ruined and its effects will be long lasting. You will probably be unable to receive any other type of loan for a few years.

 
Being upside down on a house is a risky situation -- especially for those that need to move. If you are upside down on the mortgage for your current residence, save as much as you can so you can eventually get rid of the negative equity. If you need to move, do whatever you can to keep the home until house values go back up. If you cannot keep the home, try to borrow money from a friend or from the Department of Education. Remember that it is better to put an extra five or ten thousand dollars on a credit card than go through a short sale or foreclosure. If you are unable to get hold of the cash to get out of the red, try to negotiate a short sale. It's effects on your credit are detrimental, but not as long-lasting as a foreclosure. If your lender is unwilling to engage in a short sale, then foreclosure may be your only option.
 

If you are interested in selling or buying a home or condo in the South Florida area we would love the opportunity to meet with you and discuss your real estate needs.  Foreign national programs now available.  From mortgage, relocation and residential services our peace of mind full service real estate brokerage has you covered.  Contact us today for a free consultation. 

For the inside scoop on real estate deals both on and off the MLS follow us on Twitter @ We_Sell_Miami and join our Facebook page "We Sell Miami".

Brought to you by Florida Power & Light

By Tara Nochelle-Nelson,

Broker at REThink Real Estate, San Francisco, CA

1. Get - and stay - clear on what “bargain” actually means.  Learn the difference between the asking price and the fair market value of a home. Many buyers think a bargain is any sale price below the asking price.  But a home’s asking price is an indicator of the seller’s intention, and can be roughly the same as, greater than or less than the actual market value of the home. In fact, a bargain is a home that you buy at a discount from the fair market value, or one you get with some other perks.  If the list price is set high, a below-asking sale price could still be above-market, and if it’s set low, you could pay more than the asking price and still get a great deal!

Also, get clear on what “bargain” means to you.  Are you looking for the biggest home at the lowest price (i.e.,low price per square foot)?  The lowest price in the best neighborhood?  A home in move-in condition for the price of similar homes that need work?  A home with all the furniture and electronics thrown in? There are many ways to skin the “bargain” cat.

2. ‘Regular’ sales may present better bargain opportunities than foreclosures and short sales. Contrary to popular belief, individual home sellers have more leeway and, often, more motivation to accept a lower offer than bank negotiators do. (In a short sale, the bank is the ultimate arbiter of how low the seller can go.)  The banks often must adhere to guidelines, including that they may only accept an offer X below the fair market value - many banks have a policy of slightly reducing the list price and re-market the home before taking a lowball offer.

Individual sellers have no such limitations, and often take bargain-priced offers because they must move quickly, or are otherwise motivated.  Also, individual sellers have the ability to bargain on other transaction points, as well - you might pay the fair market value to an individual seller, but get them to agree to paint the place, complete the pest repairs and fix the furnace.  Chances you’ll get a bank to do that for you? Somewhere between slim and none.

3. Look for sellers who have demonstrated their flexibility on price.  When you house hunt online, don’t limit your search criteria to beds, baths and square feet.  Search for price-reduced homes or, at the very least, sort and prioritize your search results by the dollar amount or percentage by which the price has already been cut.
 
These discounted digs might already be a bargain, and in some cases, the sellers might be willing to deal even more!

4. Find a motivated seller - look for homes with longer-than-average Days on Market (DOM).  Talk with your broker or agent and have them educate you about the average number of days a home in your area stays on the market. Homes that are lingering on the market for much longer than that may hold the potential for negotiating an even deeper discount, as their sellers might be very, very antsy and ready to take even a below-asking offer.

5. Don’t insult the seller. It might feel like you’re an ace wheeler and dealer when you make a lowball offer on a home for sale. Buyers can get bravado, like, “Ha, Seller, you want X?  Well, I’m only paying X minus 40% - deal with it.” Or, you might think, “I’ll offer you 40% less, then we’ll go back and forth 7 or 8 times, and I’ll be happy with a 20% discount off the asking price.”

But when those bottom of the barrel offers come in, both agents often detect a novice buyer at work. What they know - that you may not - is these two things.  First, many sellers on today’s market don’t even have that much room to negotiate - they’re already selling at a loss or very, very close to what they owe on the place.  If they have to write a check to sell it to you, they’d simply rather not sell.

And, second, many a seller will simply refuse to sell to someone who they feel has insulted or disrespected them.  That insult can be inferred from a lowball, below-market-value offer, or from a buyer’s running commentary on all the things they would change about the place if it was their house. (Note - you already know not to rave and gush to the sellers when you see a house you like. Neither should you trash it.)

And it’s not any different when it comes to institutional sellers, like banks selling foreclosed homes or approving short sales. They don’t take lowball offers either - most lenders say a 10% discount off the market value - not the list price! - is about as low as they’ll go.

6. Give to get.  Have your agent interview the seller’s agent to glean as much detail as possible about why they are selling, what their priority is (e.g., fast close or most cash?), and what the motivating facts are surrounding their sale (e.g., are they upside down, relocating for work, getting divorced, or any other facts that may be relevant)?

Then - especially if you’re going to ask for a big chunk off the asking price - give them what they want!  Try to close when they want, if possible (trust your real estate pro for a reality check on this - short escrows are nearly impossible for all but cash buyers these days). Go as-is, if it makes sense, without waiving the right and the time to obtain inspections. Decide what is most important to you, and if it’s a discount, give the seller what they want on the rest of your the transaction’s terms.

7. Sell yourself.  Even when they have multiple offers, today’s sellers will take a lower offer that looks certain to close over a higher offer that has no chance of closing.  No seller wants to waste their time on a buyer/offer who can’t close and then have to put their home back on the market 30 or 40 days later.

If you want a bargain, sell yourself and your offer - make a convincing case that you are likely and able to close the deal! Make sure your agent presents a polished, computer-prepared offer (if that’s the standard in your area) - this demonstrates that they have the professionalism and up-to-date market knowledge it takes to get a sale closed these days.  Make sure the offer package presented to the seller includes a polished, thorough loan approval letter, which confirms that your credit, employment, income and down payment funds have all been verified and approved for a home loan.

Also, make sure that your agent and loan broker emphasize features of your qualifications and your offer that render it more likely than average to close. Some sellers frown on FHA and VA loans, because they have a reputation of being tough to close.  If you are approved for a conventional (i.e., non FHA) loan, your offer should say that.  If you have a large down payment, or are paying cash, your offer and your agent should bring that to the listing agent’s attention, too.

When purchasing a Miami foreclosed home making a wise and sound decision requires a level of expertise that comes with experience. With possibly all real estate purchases, using an experienced Miami real estate agent can save a home buyer from making poor investment decisions The most useful aspect of a Miami real estate agent when purchasing is their personal knowledge of the market trends for various Miami neighborhoods.

Contact Miami Best Real Estate Team today for more information about this foreclosed home and other

Bank owned property. Fully furnished spectacular estate home with every upgrade imaginable. Heated resort style pool, lazy river and spa, award winning kitchen, wine celler, summer kitchen...you name it this South Florida home has it all! Amazing master bedroom suite with fireplace and palatial sitting area. Includes one bedroom, one bathroom guest house. Huge circular driveway with porte-cochere entrance and 4 car garage. Don't miss this opportunity.

View Virtual Tour

If you are interested in selling or buying a home or condo in the Miami area we would love the opportunity to meet with you and discuss your real estate needs. From mortgage, relocationand residential services our peace of mind full service real estate brokerage has you covered. Contact us today for a free consultation. For the inside scoop on real estate deals both on and off the MLS follow us on Twitter @ We_Sell_MiamiFacebook page "We Sell Miami".

Close your real estate transaction with Miami Best Real Estate Team/ERA Herman Group and Access e*Mortgage and we will refund your appraisal fee at closing. Or make a donation to a charity of your choice on your behalf

As a Miami Realtor my profession allows me the opportunity to meet and work with some truly accomplished individuals. It has always been a rule of thumb for me in the real estate business never to tout celebrated clientele or interactions with these individuals...no matter how many times they tell me it's okay. Everyone deserves some form of discretion. However there are genuine times such as this when me and my friends come together to make a difference with the youth who wouldn't otherwise have the opportunity. Bigger then real estate these are the moments I live for.

Starting today and lasting through the 12th of August kids can meet their favorite current and former NBA players who will be participating in the All Star Basketball Camp at the Michael-Ann Russell Jewish Community Center in North Miami Beach, August 8th - 12th, 2010.

Five-time NBA champion and All Star Dennis Rodman, along with six-time NBA All Star and MVP Mitch Richmond, five-time NBA All Star Tim Hardaway, three-time NBA All Star Eddie Jones, George McCloud, Eric Williams and Kenny Anderson, just to name a few, will interact and teach youth including boys and girls between the ages of 7-17 yrs old the game we all love...basketball, including ball handling, triple threat, post moves, rebouding, court spacing, passing and how important it is to work as a team.

This interactive camp will teach fundamental basketball skills, sportsmanship and team concepts. Contrary to some opinions about the NBA and its players the All Star Basketball Camp's emphasis is the importance of maintaining a positive attitude. You have to admit for these guys to have become stars in a league where the odds of making it are against you postive attitude, hard work, practice and determination are a must to succeed.

The All Star Basketball Camp will run from 9 am - 4 pm on August 9th - 12th. Kids will receive lunch daily, camp shirts, certificates of completion, photographs, autographs from their favorite players and awards ceremony. Boys and girls between the ages of 8 - 17 are welcome to attend. Registration for this experience is $200.

For more information and public relations questions on the All Star Baketball Camp contact, Andre' Shambley, (786) 704-8482.

Email: MiamiBestTeam@aol.com

Miami Best Real Estate Team

ERA Herman Group Real Estate

Direct: (786) 704-8482

Written by Michael Kraus 

August 3, 2010 - Last week President Obama signed the Dodd-Frank Financial Reform Bill, and while most people are not exactly sure what effect this legislation will have on the financial industry, one thing that it will surely do is have widespread ramifications on the appraisal industry because it will eliminate the Home Valuation Code of Conduct (HVCC) in 90 days.

The HVCC was brought into being in 2009 by the Federal Housing Finance Agency (FHFA). The purpose of the HVCC was to give appraisers increased independence from lenders in an effort to improve the accuracy of appraisals and preclude interested parties from influencing appraisers.

The HVCC did this by having appraisal management companies act as a buffer between appraisers and lenders.  Many in the industry felt this squeezed profits on appraisal jobs to the point that veteran appraisers left the industry and appraisal quality suffered.

New standards will be developed over the next 60 days.  One change that is certain is that government mortgage behemoths Freddie Mac or Fannie Mae will be able to use appraisal reports from appraisers hired by lenders or mortgage originators.  According to the legislation, appraisers must be paid at “market rates”.  Originators will continue to be prohibited from threatening, bribing, or otherwise influencing an appraiser to get a more favorable appraisal value.

It remains to be seen exactly what other changes the new rules will engender.

If you are interested in selling or buying a home or condo in the Miami area we would love the opportunity to meet with you and
discuss your real estate needs.  From mortgage, relocation and residential services our peace of mind full service real estate
brokerage has you covered.  Call today or contact via email for a free consultation.

For the inside scoop on real estate deals both on and off the MLS follow us on Twitter @ We_Sell_Miami  and
join our Facebook page "We Sell Miami".

Steve Cook is a nationally recognized speaker and author. He has worked with various companies and organizations as a consultant. He has an extensive background in public relations, journalism and politics. 

If you are interested in selling or buying a home or condo in the Miami area we would love the opportunity to meet with you and discuss your real estate needs.  From mortgage, relocation and residential services our peace of mind full service real estate brokerage has you covered.  Call today or contact via email for a free consultation.

For the inside scoop on real estate deals both on and off the MLS follow us on Twitter @ We_Sell_Miami and join our Facebook page "We Sell Miami".

• Total mortage debt over $175,000
• Property must be located in South Florida
• 60 days or more from a scheduled foreclosure sale date of property
• Properties in need of major repairs, including structural and roof are considered

For those who follow my blog, remember at the beginning of the year when I wrote a blog about 2010 being the year of the short sale?  Well here it is...this is what I was talking about! 

If you own real estate in the Miami or Ft. Lauderdale area and realize the benefit of an immediate cash offer on your South Florida short sale condo or home instead of facing foreclosure or bankruptcy, I welcome the opportunity to discuss with you in greater detail and the way I can benefit you.

If you've bought or planning to buy a home in the state of Florida a radon disclosure is a form that you will sign.  While many people have heard about radon, very few actually know what it is.  Where does it come from?  What makes it so dangerous?  How can one detect it?  Let's start with the basics, shall we?

Radon is a highly toxic, odorless, colorless gas.  It is a naturally occurring substance derived from the decay of uranium, normally found in earth and rock beneath your home.  It has also been discovered in well water, and in certain building materials. 

Radon is responsible for at least 15,000 to 20,000 lung cancer deaths each year in the U.S. In fact, radon exposure is the second-leading cause of lung cancer in the United States. This tragedy is compounded by the fact that both radon testing and radon mitigation are simple and inexpensive. While nationally 1 in 15 homes may show dangerous levels of radon, the average levels in many parts of the mid-Atlantic may be two to three times higher than this. There are no immediate symptoms of radon exposure and you cannot see, taste, feel, or smell radon. Cancer can show up five to 25 years after exposure and about 12% of lung cancer diagnoses are caused by radon.

Where Radon Comes From
Radon is a radioactive gas that occurs naturally in the soil. It is a byproduct of uranium decay. Radon can be found in-new homes, older homes, homes in need of repair, homes without basements; there is no pattern. Your neighbor’s home might be radon-free, while your home has dangerous levels. Radon can come from the ground beneath a home, well water, and various building materials. The only way to know is to test your home, which can be done for less than $30 with a simple kit available at most hardware stores.

Before Buying a Home:
• Ask the seller for a copy of the home’s radon test results. If the home has not been tested, ask your home inspector to include a radon test in his report.

• Make sure that the Radon Testing Checklist items were met.

• Make sure that the last test was recent, at least within the past 2 years.

• Make sure that the seller has performed the test in the lowest, livable level of the house. This usually means the basement, but if the home has no basement, test in the lowest level of the house.

• Ask that the home be tested again if any changes have been made to the home’s heating, ventilation, and air conditioning system since the last test was done.

• Should you decide to renovate an unfinished part of the home, test for radon before work begins. It is much easier to install a radon system in an unfinished room. If your test results are close to the EPA action level (4.0 pCi/l), test the space again after work is completed.

When renovating an unfinished part of a home or building a new home, look to minimize radon presence.

To Minimize Radon When Building a New Home:
• The integrity of the slab should be maintained at all times.

• Sump pits need to be installed with a sealed cover.

• Use a gas tight radon drain for all floor drains.

• When framing, run a radon vent pipe from the basement to the high part of the attic. This pipe should not be to close to the attic eaves, so that a radon fan can be easily added at a later date if needed.

• If a sump pump is not required for the basement or if the construction is slab on grade, have drain tile looped around the perimeter of the inside of the foundation and have it terminate with a 3 inch PVC “rough in.” A 3” PVC vent pipe is sufficient for spaces that are less than 2,000 square feet. Use a 4” PVC “rough in” and a 4” PVC vent pipe for spaces larger than 2,000 square feet. 

How to Measure Radon
Homeowners can test for radon themselves. Order a radon test kit and when finished, make sure to return the radon test to the laboratory with all the required information filled out. Be sure to follow the test kit instructions to the letter. One of the most common mistakes is over or under exposing the devices. A radon test result of 4 picocuries (a picocurie is one trillionth of a curie and measures radioactivity) per liter or higher is considered to be a high radon level. The average radon level in homes is 1.3pCi/L and .4pCi/L outdoors. The 1.3 pCi/l national average includes homes in many regions that do not have radon issues. Keep in mind that the 4.0 pCi/l standard was established as a matter of practicality, not safety. EPA officials at the time were unsure whether the technology and methods employed in 1984 were capable of reducing radon levels further. Recent studies show a significant risk of lung cancer when exposed at levels between 2 and 4 pCi/l. EPA recommends reducing radon levels to below 2pCi/l if possible.

If your home does have Radon
Costs to hire a radon removal professional to lower radon levels average about $800 to $1,200. Homes with crawl spaces or without gravel under the slab cost more. Many radon removal configurations exist and include sub slab depressurization (SSD), SSD with a crawl space, and air exchangers. The work required for a successful radon mitigation are beyond the skills of most untrained homeowners.

What to Consider When Hiring a Radon Abatement or Mitigation Firm
• Ask to see proof of their certifications from National Environmental Health Association (NEHA) and/or the National Radon Safety Board (NRSB).

• Contractors must also be licensed as home-improvement contactors in each state they wish to work. The District of Columbia is an exception in the case of radon work.

• Make sure the contractor is fully insured.

• Have them describe all of the work they will be doing.

• Sign a contract and see that it includes all promises that were made verbally.

• Don’t pay for work until it is complete. Down payments are rarely required.

• Ask for at least a 20-year transferable warranty.

Curb appeal means the first view you see when you drive by or arrive at a home. First impressions are lasting and prospective buyers can be drawn to buying your home by its curb appeal.  If you intend to sell your home at the best possible market price, look at it in the perspective of a buyer. What sizzle exterior features does your home have and what are the ways to further enhance them? What are the worst features of your home and what can you do to improve or minimize them?

Following are several tips that can help you assess the curb appeal your home has and/or make the necessary enhancements to improve your home's appeal to its lifestyle buying audience.

1. Paint it. Miami real estate is renowned for its vibrance.  Fresh paint in an attractive color can draw people to your home. Look for a champion color that complements the style and structure of your home. Muted colors look best in some homes. Try an off-white color that looks attractive on your home.

2. Replace out-dated light fixtures with new, interesting ones. Go Miami Green!  Add lights to lighten up the walks and doorways. Do not use very bright lights; instead use lights with lower wattages to create a more attractive and mysterious look in the evenings.

3. Create a magic touch through landscaping. Setting up a stonewall with lush greenery can create a terraced front garden. Illuminate your landscape at night. Bring out the creative side in you and experiment on the best angle for your lighting. Lanterns in prairie styles and designs can brighten your front walk considerably. You can have low lights pointing up at trees and bushes or pointing down along the pathway. Instead of using wires, you can use solar lights that charge during the day.

4. An attractive garage can make a huge positive impact on prospective buyers especially if your garage is facing the front of the home. Choose from the many decorative designs and accessories available. Your garage door should compliment the build and style of your Miami Florida home.

5. To add curb appeal to your home, consider resurfacing your driveway. Use woven stones and grass patterns for a more appealing look. This is a refreshing alternative to the usual boring, cemented look on driveways.

6. Enhance windows and doors by adding attractive decorative moldings. Use shutters and make bland windows that can emphasize the architectural design of your home. Flower boxes can add color to the exterior of your home. It also makes the windows appear taller from the street.

7. Add a stone path or walkway to add to your home's appeal. You can make your stone path look like something from a fairytale. Here you are free to choose your own design and enhance that walkway. Keep everything simple; create paths that complement the home.

8. Enhance the roof. An asphalt roof is best in shades of black or slate gray. A slate roof gives a premium look to any home. Use raised-seam metal roofs if you want that distinctive older-looking roof.

9. Always keep your house and its surroundings clean. Periodic pressure washing removes the debris off siding, walkways, pathways and decks, leaving a pristine facade on your home. A clean appearance is the best curb appeal your home can ever have.

Following these simple tips, not only enhances your homes saleability for the best possible price, you’re sure to become one of the best in show amongst Miami homes for sale.

If you are interested in selling or buying a home or condo in the Miami area we would love the opportunity to meet with you and discuss your real estate needs.  From mortgage, relocation and residential services our peace of mind full service real estate brokerage has you covered.  Call today or contact via email for a free consultation.

For the inside scoop on real estate deals both on and off the MLS follow us on Twitter @ We_Sell_Miami and join our Facebook page "We Sell Miami".

Before deciding on a sales price for your home, get a pre-listing home appraisal. This will provide the market value of the property, and it will also provide a reasonable foundation to determine your asking price which can save considerable you money, time and days on the market.


Here are a few tips to keep in mind before undergoing an appraisal and ensure the highest value possible for your home:

1. Presentation is everything.

The simplest but possibly most important task is to clear the house of clutter such as laundry, dishes, and walls filled floor-to-ceiling with pictures. Before the appraiser enters the house, fix any minor or major defects or blemishes found in the home. A new coat of paint is a great way to create a fresh and inviting environment. A large amount of natural light as well electrical lighting creates a welcoming space.  Remember the appraiser evaluates your house through the buyer’s eyes.

2. Offer any additional facts about the house.

Many things, such as the neighborhood, factor into the value of your home. Research what houses are valued at around your neighborhood. This will help the appraiser in their estimate as well as give you a comparison of what you can expect.

3. Put your best foot forward

Appraisers can not inspect the entire house, so inform him or her about the most significant selling points about your house.  Describe any recent home improvements indoors or outdoors. Home buyers today are concerned with saving energy, so energy efficient appliances and energy saving methods are a huge selling point.

If the first appraisal seems reasonably lower than expected, you can always try using another appraisal company to have a comparable.

1) Clean, Organize, and Neutralize Your Space:  Unclutter your house to make it look bigger and cleaner. Buyers need to be able to envision their own belongings in the home, so avoid using bright colors and too many personal effects.

2) Keep your lawn green:  Get your lawn in shape. A patchy lawn takes away from the home’s overall appearance.  Your local hardware store has supplies to re-seed those unhealthy areas.

3) Add insulation to save energy: The most inexpensive way to increase your home’s energy is to add insulation which can reduce heating and cooling costs by more than 25%.

4) Update Kitchen Appliances: The kitchen is often the room that buyers gravitate towards first, and an updated kitchen can help sell your home.   You don’t have to remodel your kitchen to give it a new look.  Updating your appliances to the current standard and replacing cabinet doors and hardware can make a big impact at a relatively low cost.

5) Update those bathroom fixtures:  A little change can go a long way when it comes to the look of your bathroom.  Updating simple fixtures such as your sink and faucet can give any outdated bathroom style. And, according to Bankrate.com, minor bathroom remodels typically return over 100% of the initial investment.

6) Build a fence:  If you’re trying to sell a house, the appearance of a fence adds value to the home overall.  Buyers with children or pets will appreciate the privacy and security of an enclosed backyard.

7) Repair the gutter:  Ensuring that your gutter is clean is crucial in protecting your home against water damage.

8) Light up the outside: An easy and inexpensive way to increase your home’s outdoor space is to add lighting.  It makes it more appealing and safer.

9) Store and organize: Ample storage space is a plus, especially when it comes to garages and closets.  Efficient closet structures can help keep your clothes organized and can save space.

10) Polish off the basement: Rather than adding an additional room, it is more cost-efficient to remodel your basement.  This adds value and usable space.

Seller disclosure is critical to a smooth home sale and reducing seller liability, but not all homeowners are aware of its value to the home selling process. Seller disclosure, the obligation of a home seller to tell any potential buyer about problems in the property, is only mandatory in several states. However, it is rapidly catching on locally and many real estate companies are developing their own voluntary disclosure policies.

The reason is simple: disclosure reduces liability. If a home buyer knows about a problem up front, then they can't later claim you hid it from them. A buyer can file a consumer fraud suit that can cost you three times as much as taking care of the problem in the first place. So avoiding disclosure is like crossing the street with your eyes closed--eventually you will get hit.

Seller disclosure not only includes a duty to disclose problems you know about, but it also includes responsibility to disclose problems you should have known about. The days of caveat emptor (buyer beware) are over; now it's almost seller beware. It's better that they know about a problem now and resolve the issue than find out later through a lawsuit.

Most home buying tips include a recommendation to get a home inspection. That's why sellers are smart to have a professional home inspection done when their house is listed. Home Inspectors can identify problems, provide solutions and offer suggested improvements that can actually help you sell your home more quickly. If there is a problem, it's always better to find out now rather than later when a buyer is involved. This way you can elect to either fix the problem or disclose it. If you choose to make repairs, you can bet it will always be less expensive to do them before a buyer is involved. Buyers will usually want the top-of-the-line repair when an average-quality job is good enough.

Also, most home buyers will eventually get an inspection before finalizing a sale, so having one done ahead of time will give a seller some idea of what to expect. There's nothing worse than bargaining down the price of your house to your bottom dollar, only to find out that the furnace is shot and the buyer wants a new one.

Plus, when the buyers home inspector shows up. it's always a good idea to politely hand over a copy of your home inspection to the buyers inspector. You should not suggest that the buyers inspection will be any less valuable as a result that you had your own done, but having taken that step will demonstrate to both buyers and their inspector that you understand the process and took steps to make sure you avoided any potential problems mid-transaction.

As the old football phrase goes, the best defense is a good offense. Identifying and disclosing the condition of your house via seller disclosure will not only help sell it faster and avoid costly seller mistakes, it will allow you to move on to your new home with far fewer worries.

For more home buying tips as well as ideas for sellers, www.OnePlaceOpenHouse.com.

Your home is your haven. Make sure that it is a safe and happy place for you and your loved ones with these 10 tips from the Home Safety Council®, and for more visit www.homesafetycouncil.org.

Prevent Falls:

1. Keep stairs and walkways well-lit and clear of obstacles.

2. Install grab bars and non-slip mats in your bathtubs and showers.

Prevent Poisonings:

3. Keep cleaners, medications and any other possibly toxic materials in a secure place where children and pets cannot reach them. Use child safety locks.

4. For Poison Help, call 1-800-222-1222. Post this and other important numbers near every phone in your home. Teach children to dial "911" and what to do in case of an emergency.

Prevent Fires & Burns:

5. Install fire and carbon monoxide detectors. Check batteries at least twice a year and practice fire drills.

6. Use caution when burning candles and while cooking. Never leave an open flame or heat source unattended.

7. Set your water heater to 120F to avoid scalding.

Prevent Choking and Suffocation:

8. Anything that can be placed in a child's (or pet's) mouth is a potential choking hazard. Keep small items out of reach.

9. Don't put pillows, extra blankets or toys in a baby's crib.

10. Always watch children carefully when they are near water. Even a few inches of water can be dangerous.

As we enter a new decade I’m eager to see what 2010 holds for South Florida’s real estate market and if many forecast predictions from last year will come true. Due to the new short sale rules that are being put into place, more and more, I’m hearing my colleagues call 2010 the year of the short sale.

While short sale success stories are more common as opposed to this time last year fair market pricing is still numero uno. Many home sellers have come to the realization that their home was overpriced to begin with and as a result have either become motivated to reduce the price to compete with bank reo’s and short sales or have taken their property off the market altogether.

Short sales have become a major component in our real estate market thus setting the trend for appraiser’s comparables.

Banks are beginning to go along with short sales in increasing numbers, three years into a U.S. housing slump that pushed the economy into a recession and cut resale values by 30 percent from the peak in July 2006. Short sales almost tripled to 40,000 in the first six months of 2009 from the same period a year earlier. Yet for each short sale, there were 25 foreclosures started or completed in the first half of this year, according to data from the Office of Thrift Supervision and the Office of the Comptroller of the Currency.

Pressure is building to approve short sales as the number of delinquent mortgages has grown to 3.2 million and an estimated 7 million foreclosures loom in the next two to three years, according to Irvine, California-based RealtyTrac Inc., which compiles and sells U.S. mortgage delinquency data. New Treasury Department guidelines for foreclosure alternatives scheduled to take effect in April 2010 will require lenders to consider borrowers for a short sale on their primary residence 30 days after missing two consecutive payments on a modified loan or after the borrower requests a short sale.

 In addition to the U.S. Treasury Department providing financial incentives to servicers, borrowers and investors to go forward with short sales or a deed-in-lieu,

The increase in banks agreeing to take losses on mortgages is helping many home buyers who previously couldn’t afford to purchase 3-5 years ago.

In essence, banks have come to the realization that real estate is overpriced…no matter what contents or improvements a property may come with and in order to make their properties attractive to serious and qualified buyers they must price according to the demands of a robust buyer’s market. 

After all, the plan has always been to sell in the shortest amount of time possible…right?

Let the Orange rise to the top…5 4 3 2 1, “Happy Prosperous 2010!”

Buying a vacation home that doubles as a future retirement home requires forethought and thorough investigation.  Conventional wisdom tells us to first settle on a desired location and then look for the least expensive house in the best possible neighborhood.  This is of course true, but buying a future retirement property demands additional consideration.  Without a doubt, the purchase of a dual purposed home can be one of the most important and financial rewarding decisions a pre-retirement couple undertakes.  Quite simply, the ultimate home buying decision comes down to establishing relatively conservative financial boundaries, drawing up a wish list and employing a real estate broker to find a home that will serve your needs now and in years to come.

Even prior to the financial planning phase, a vacation and future retirement home buyer should take a step back and make certain that there is 100% commitment.  Ask yourself a few simple questions. First, is it possible that your financial position could materially change for the better or worse in the upcoming years? Have you decided on a location that requires a dramatic environmental change? What about relatives, does it matter that their next trip may require a flight instead of a drive?  If you've answered 'yes' to any of these, our advice is to find a long-term rental in the area and give it a test drive.  If, on the other hand, there are no doubts, it is time to set your financial parameters. 

Once the decision is made to move forward, you need to figure out how much of a home you want and what type of home you can afford.  The latter is a bit easier to quantify as most financial institutions prefer mortgage payments that are less than 29% of gross monthly income. However, if you have a good financial track record, banks will afford you some latitude. Obviously, lending rates are a crucial factor in this equation.  Remember that buying now for a future retirement is a long term proposition and your new investment should appreciate with no financial carrying cost surprises.  

An additional factor to consider is whether your prospective vacation property can provide rental income before it becomes your full-time retirement home.  If so, you would be able to deduct a portion of your mortgage interest payments, taxes and property amortization against the rental income.  In other words, it is a great way to build equity and create additional cash flows.  It should come as no surprise that an increasing number of people have taken advantage of this strategy. 

After defining your financial boundaries, it's time now to come up with your wish list.  What do you want in a home?  How many bedrooms and baths? Do you want to live in a private gated community, condo development, or country? Does it have potential as a rental property? In addition, off-site criterion should be established to ensure that all aspects of your vacation home experience are amenable to your current and future retirement lifestyle.  For example, are there property management services and what about local conveniences such as transportation and healthcare facilities? 
    

Now that you are armed with your financial parameters and wish list it's time to contact Miami Best Real Estate Team and see what's available.  Almost 70% of home buyers leverage the internet to research properties so if you haven't already, it's time to start surfing www.OnePlaceOpenHouse.com.  Simultaneously, you should be refining your financing plan by contacting a number of financial institutions and mortgage broker aggregators.  Don't be bashful, comparative shop with at least two or three companies to ensure that you understand the various financing options and are being offered the best deal.

As we all know, the relationship with a broker is extremely important.  A broker must truly understand your financial parameters, desired home criterion and lifestyle objectives.  Brokers are normally paid for by the seller.  Therefore, it's your job to establish the broker and buyer relationship that best works for you, not the seller.  Remember, this is your vacation and future retirement home.   
  

With a bit of good luck, buying a vacation and retirement home can yield some interesting financial benefits including long term capital appreciation and additional cash flows. Thorough planning can help mitigate future uncertainties and make the home buying process into a truly rewarding experience. 

Consider this; as there are more and more bank foreclosure properties that are on the market a good bet is that there is one right for you. A big discount on your home purchase could be worth many times the time and effort to find and make it ready for your family. Find a good agent who understands the market and you can save thousands on your next home.

Homes in Every Market Place.  Some over a million dollars, most well under $100,000. You have a supply of homes that will fit your requirements for size, amenities and location. Miami Best Real Estate Team can place you in their VIP Buyer program and email you daily or weekly all new listings that come up and fit your criteria of bank foreclosure, distress sale, size, amenities, and location. What could be easier?

1. Pre-Approved - Always as a buyer have your financing in line before you start your search. Some banks and government agencies will provide low cost, low down payment mortgages for owner occupants. You get the house cheap and the money to buy too. A great deal!

2. Find Your Home - Daily emails from Miami Best Real Estate Team will give you a listing detail of the home with photos and a locator map. Drive by check out the area, is this somewhere you would like to live and raise your family? If the area or subdivision is not what you want cross it off your list and tell your agent so he can adjust your criteria in the computerized home search. When you see an area you like make sure you agent knows and he'll be all over that neighborhood looking for next home.

3. Make an Offer - The listing price is usually set at close to market value, some listing agents try to impress the bank with higher than realistic pricing. With your Buyer agent doing some research (CMA) and tax records make an offer at your price. Don't get caught up in the "this is the only house for me" syndrome. Be ready to walk if the bank or its agent won't make a deal. There are plenty of others to choose from.

4. Repairs and Renovations - Some banks today are making repairs to properties before placing them on the market. This usually involves painting inside and outside, new heating and air, new water heater, new flooring, and maybe some new fixtures or appliances. You can still save money on this updated house because they have extra costs in the property and must sell it fast. Usually this is a property that the overall foreclosure costs was way less than the market price. Some people lose their $295,000 for not keeping current the $110,000 mortgage they have great equity to work with and get taken to the cleaners because they don't work with the right agent.

5. Make Ready and Move In - Maybe you have to do the repairs yourself you have just saved tens of thousands dollars. You have some equity to work with use a small home improvement loan or an equity line of credit or you may even be able to finance the repair in your new mortgage. You have a lot of options. And Miami Best Real Estate Team can help you set it all up.

Foreclosures are not just for investors, there are opportunities for some great deals for every home buyer in almost every area of the country. From $50,000 to $6,000,000+ you can find something that is right for you and have your real estate agent do most of the work.

For a list of updated foreclosure properties log on to our website www.OnePlaceOpenHouse.com and register.

Pricing your home correctly is the first and most important step in the selling process. Whether you list with an agent or sell by owner the wrong price will cause lost income and/or excessive marketing time. You have options, either to contract with a professional Real Estate agent or do your due diligence and research to find the true Market Value of your home. In the examples below we show why pricing is so important.

Example 1:

A $250,000 home is priced 10% below the true market value at $225,000. The home sells quickly with little or no negotiation for possibly an all cash offer to close quickly. This buyer maybe an investor who is extremely market savvy or a buyer who works closely with a Real Estate Agent using cutting edge buyer programs. This buyer probably has a VIP Buyer Agreement with his agent and receives emails daily with all the new listings as they come on the market. Both of these buyers are able to act before most other buyers even know the home is for sale, they know the area and the pricing. The seller leaves $25,000 on the table and doesn't know it until it's too late.

Example 2:

A $250,000 home is priced 10% above the true market value at $275,000. The home gets no buyer interest or activity, no drive bys after 90 frustrating days the seller reduces the price to $264,500 (still above market value). The home still has no buyer interest or activity, maybe an occasional drive by. So again after 90 more agonizing days they reduce the price to $259,900 (still above the market, but within the at least look at range). Activity does pick up but the home now appears old on the market, the advertising photo's are all now out of season, the visual tour looks dated. Finally an offer if you're lucky at $235,000, after days of back and forth negotiation you get it up to $242,000, what a deal. Now after 6 months of agonizing frustration you lose $8,000 plus all the extra costs of mortgage payments, interest, taxes, marketing, repairs, maintenance, explaining to your friends why, and worst of all, the home you wanted to buy is now sold.

Example 3:

A $250,000 home is priced correctly for the true market value between $249,500 and $251,900. This home gets more buyer activity and more offers than the over priced homes on the market. Homes priced at true market value normally sell within 30 days. Of all homes listed less than 40% sell in the first 30 days on the market. This seller will probably get a close to full price offer and negotiate it up to full price without much effort. No extended marketing, no explaining to friends and family why and you get to buy the house you wanted first. Price it right, sell quickly and for top dollar. Move on with family to your new home with the least amount hassles.

There are costs involved with selling your home. You must decide which cost you want to pay, the normal marketing, commissions, and closing costs or add in the costs of too high or too low pricing. With a little research and knowledge you can price it right and save a bundle.

The right number of bedrooms, lots of sunny windows, a spacious kitchen ... these are just a few of the traits that prospective buyers look for when shopping for a home. But what about the surrounding neighborhood? How will you know if the location is right for you?

The quality of the neighborhood can have a significant impact on the home's overall value so it is well worth spending some time to check out the neighborhood. Here's how:

Start with the statistics - you can find information online about the area's demographics, school scores, crime rates and nearby stores, parks and other conveniences.

Visit City Hall - you can get copies of any future construction plans at your town or county's office of zoning and planning.

Get to know the area - one of the first characteristics you should notice about a neighborhood is its appearance. Take a walk around the area to get an overall view of where you might end up living. Drive through the neighborhood at various times of the day and night, during the week and on weekends. Compare what the traffic is like during rush hour to a Saturday morning. Notice if the neighborhood is quiet or if there are barking dogs or other noisy considerations.

Families with children should research local schools. Contact the school district's office to obtain school test scores and district budgets before you decide on a home.

Consider the distance from this neighborhood to your job. You may want to calculate the drive time with traffic, rather than just the actual miles. Also factor in how close you are to parks, sports complexes, shopping malls and grocery stores if these conveniences are important to you.

Your home is likely your most valuable asset, so naturally, you want to protect it.

But homeowners insurance can be complicated. You want to avoid paying too much for coverage you don't need, but you shouldn't leave yourself vulnerable to loss either. Here are some secrets of the home insurance business that may help you save without risking your home.

Know the value of your home. To account for inflation, your policy's rate may rise periodically. When this happens, be sure to read the numbers carefully; your rates may be higher than the actual inflated value of your home. If this is the case, you can get a truer idea of your home's value by speaking with a builder and asking what it would cost to rebuild your home. Or, you could request that your insurance agent performs a reassessment to come up with a more reasonable number.

Adjust your policy for home improvements. Such major home renovations as adding a new room or expanding a kitchen, should be properly insured. You'll want your hard work reflected - and covered - in your homeowners insurance.

Some possessions may not be covered. Your homeowner's policy may provide only limited coverage for expensive items like electronics, antiques or jewelry. If you own items like these, you may want to supplement your policy with a floater that provides additional insurance for valuables. Just be sure to get the items professionally appraised so you know what they're worth.

Some claims may be excluded as well. Many people fail to read their insurance policies until it's too late. The best insurance that you are properly covered is to be informed. Read your policy and make sure that you are covered for incidents like mold and water damage, floods and other natural disasters, even trampolines and dogs, if needed.

The goal in a real estate negotiation is to reach a best agreement.  One in which the underlying interests of both buyer and seller are met. The results of a poor agreement often return to haunt the parties after closing.  Review these tips as you prepare for the purchase of your home.

What do you want to achieve in the negotiation?

The first step in getting what you need is simply to let the seller know - in a clear and reasoned way. For most people, the highest priority is the price they will pay for the property. The best way to establish this is by a market analysis of the neighborhood. Consider the amenities of the property in relation to the neighborhood environment. Establish a range of value. Knowing your range allows you to balance the price with other needs. Your interests might include:

1) Paying the lowest price possible.

2) Setting a closing date that meets your time frame.

3) Settling any repair issues fairly.

4) Having your concerns heard and addressed.

5) Locking in an acceptable mortgage loan rate.

6) Clearing any title or survey issues that come up.

7) Completing your relocation and job change process.

8) Getting your family settled into a home and neighborhood.

9) Forging a good working relationship with the seller.

10) Having no future problems after closing.

Is an adversarial or cooperative approach more effective?

Effective negotiation does not result from stubborn demands. There is nothing more destructive to the negotiation process than combative behavior. Professional negotiators try to preserve the relationship between the principals. The goal is to avoid an impasse in which neither seller's nor buyer's goals are met. In many cases, the contract negotiation process begins with some initial distrust between buyer and seller. Effective negotiators move in the direction of trust as quickly as possible.

In preparing your offer, let the marketplace establish your price, while remaining very complimentary of their home. Buyers sometimes submit a letter to the seller pointing out deficiencies and explaining why their house is not worth what they are asking. This will always backfire and start the negotiation off with a defensive seller. Sellers have an emotional attachment to their home, and will have a strong negative reaction to a critical buyer.

How do you handle an adversarial strategy by a seller or agent?

You may find that you have to work with a combative seller or agent. Their strategy may include: defensive arguments, emotional statements, snide remarks, threats to terminate, ego involvement, and stated positioning. Creative solutions are difficult to find in this environment. Good control over your own emotions is critical when working with a combative style negotiator. Here are some pointers:

1) Do not argue. Arguing will position them more strongly and drag the negotiation off course.

2) Do not respond emotionally. An angry or defensive response will escalate the negotiation into a no-win battle.

3) Do not accept or reject their arguments. Listen and show that you understand their points.

4) Accept the fact that strong emotions are present. Strong emotions arouse fear and anger in others. They may be a negotiation tactic.

5) Avoid an "us-against-them" strategy. Attach cover memos to your responses in order to communicate with the seller and break down barriers.

6) Show that your proposals were not been made unreasonably. Firmly anchor pricing, repair requests and other points to outside data.

7) Be careful not to allow hazy proposals to stand. Put everything in writing. An emotional negotiator will often produce an unclear agreement.

8) Make your offer as attractive to the seller as possible. Look for ways to meet their underlying interests.

9) Offer some wins on some of the terms. Face saving is important. Do not try to win every point.

10) Keep your long term goals in mind. The seller may have a beautiful home that meets your needs.

Is every point in the contact negotiable?

Yes. However, one of the most effective ways to come to an agreement is to rely on accepted norms when possible.  Using consistent standards reduces the need to haggle over every point. However, every term in a contract can be used to help structure the deal. By trading off, both parties can come closer to getting what they need.

How do you move in the direction of "trust"?

Keep in mind that contract negotiation is a sensitive area, and anxiety can be high. All parties are under pressure, with future plans at stake. It is possible that the buyer or seller may have had a previous bad experience. Acting with integrity does not mean that all cards have to be put on the table. It is not proper to discuss your personal strategy or needs. A high level of trust raises the level of cooperation between the parties and forwards the negotiation. The seller will be much more cooperative if he or she feels that the buyer and agent are acting with integrity. Here are ways to develop trust:

1) Listen and understand what the seller has to say.

2) Express appreciation for the seller's home, gardens, decorating.

3) Respond within a reasonable time to counter offers.

4) Reassure the seller of your ability to close.

5) Reveal some personal information about yourselves.

Finding common ground with the seller can be a very powerful tool in the event of multiple offers. Sellers often choose their contract for personal reasons. For example, the buyers reminded them of their own family when they moved in with young children. Or, they were of the same religion. Or, the new owners would care for their gardens or feed the birds.

How much leverage do you have?

A crucial part of your strategy in a negotiation is an accurate perception of the real estate market. You must know the underlying market condition. If you are in a sellers' market you must act quickly, and be willing to present an offer at the top of the range. This is most important if the home is in a hot area and has strong appeal. If the seller has multiple offers, you must make your very best offer up front.

In a buyers' market your prospective home may have been on the market for months. There may be a small buyer pool for the home because of economic conditions or due to repair or updating needs. In this case you have a lot more leverage than you would with a new listing. Some knowledge of the sellers' needs may help you improve your leverage. If you can meet some of their needs you have gained leverage for a lower price.

It is important to make your offer as straightforward as possible. Contingencies will reduce your leverage for a lower price in a buyer's market, or for any consideration in a seller's market. Be proactive about showing the seller your desire and ability to close. Here are some possible contract contingencies:

1) Contingent on sale of your home: Usually, the seller will not accept a contingency to find a buyer for your home. It is more likely to be accepted if your home is under contract. Attach a copy of the contract and status report.

2) Contingent on inspections: In our area this is covered by an option period. Keep the option time within accepted norms. This contingency can be removed to strengthen your offer, if you are already knowledgeable about the property condition.

3) Contingent on financing: Strengthen your offer by obtaining credit approval. An approval letter with your offer improves your leverage, and is crucial in multiple offers. If you are making a cash offer, get a letter from your banker stating that the resources are available.

How much under list price should you offer?

Unless there is a strong seller's market, buyers usually offer less than list price. Establish your price by a market analysis. It is usually counter-productive to offer so low that the seller will automatically reject the offer. This will set a negative tone from the beginning. In a recent deal the seller responded to a low offer with an above-list-price counter.

How are multiple offers handled?

The listing agent and seller will decide how they will handle multiple offers. They may disclose to all parties, or disclose to none, that multiple offers have been received. By informing the parties that there are multiple offers, the seller is not "shopping your contract." Shopping occurs when the seller discloses the terms of an offer to induce a buyer to submit a better offer. This can have a negative result by creating distrust of the process by all parties, and possible loss of the buyers. The standard procedure is to notify each potential buyer that there are multiple offers, and give each a chance to raise his offer by a certain time. When all are received, the seller will review the offers and choose one to work with.

Before Sunny Isles was incorporated into a city in 1997, J. Milton&Associates had already invested over $1 billion in real estate development. JM&A is planning to invest an additional $800 million to $1.5 billion in real estate in Sunny Isles Beach within the next 5 to 7 years.

Sunny Isles Beach, the city of sun and sea, is located on a barrier island in the northeast corner of Miami- Dade County, bounded by the Atlantic Ocean on the east and the Intracoastal Waterway on the west. It is located midway between downtown Miami and Fort Lauderdale. Golden Beach lies to the north and Bal Harbour and Haulover Park are immediately to the south.

Visitors can fly into either Miami International or Fort Lauderdale/Hollywood International airports, or cruise into the Port of Miami or Port Everglades and be in Sunny Isles Beach within 20 minutes.

Almost one million vacationers visit Sunny Isles Beach annually to enjoy the 2 mile-long fine sand beach and outdoor amenities such as water sports, boating, fishing, and tennis as well as the abundant shopping, dining and entertainment options nearby. The landmark fishing pier is a local favorite while the beautiful Samson oceanfront park provides a children's play area and space to relax, meet friends and enjoy the sunrise.

The city is building parks, improving the infrastructure and laying the groundwork for future redevelopment.

The emphasis of most of the redevelopment is on residential condominium construction. The city is steadily replacing outdated motels with luxury residential oceanfront development. Much of the residential construction is not for year-round occupancy, however the statistics show a steady growth in young families who desire to be near the ocean.

Even now when the economy is going thru a change and the real estate is temporarily not promising our developments in Sunny Isles can still fit the tourism, second and primary residence purpose.

Major developers from all over the world like Trump, Related and Turnberry have and are still investing and developing in this small yet rapidly growing city.

There are several major hotel chains in Sunny Isles Beach; Rosewood -Aqualina, Ocean Point, Trump, Sonesta and The Meridien and there are many more to come.

In the past 10 years there have been over 20 towers 30 to 58 stories high developed in Sunny Isles Beach.

There is an opportunity for only 22 additional projects coming up on the ocean side in the next 5 to 10 years, so there is limited availability for land before it becomes obsolete.

Sunny Isles Beach has over 6 billion dollars in real estate taxable revenue that is being reinvested within the city to build roads, schools, libraries, public parks and the City of Sunny Isles Towne Center.

It is estimated that the real estate taxable revenue will grow to $9 billion by 2010.

JM&A is currently building, in cooperation and planning with the city of Sunny Isles Beach, St. Tropez Condominiums and the City of Sunny Isles Town Center, located in the heart of Sunny Isles Beach.

The development will be composed of six towers with approximately only 72 residences per tower. Each tower will consist of luxurious penthouses, town homes, and lanai units overlooking the Intracoastal Waterway. The Towne Center will include an array of upscale shopping boutiques, restaurants and cafe's. In addition, it will also include parks, waterfront boardwalks, a full service marina and an amphitheater. This exclusive community will continue our vision of meeting the needs of our primary and secondary homebuyers.

J. Milton & Associates is an experienced development company that has been in business over 45 years in South Florida building over 20 thousand residences and has grown to a net worth of $1.5 billion.

As a vertically integrated operation, the development division performs its own land acquisition and land planning, construction, financing, sales and marketing. Every step of every project is subjected to rigorous value engineering, and top management is involved in every decision. This hands on involvement and meticulous attention to detail are hallmarks of JM&A development philosophy.

As one of South Florida's largest residential property owners and managers, and a pioneer and leader in luxury condominium development, JM&A is well positioned to sustain and expand its record as one of Miami's most successful private real estate developers.

Why South Florida?

According to the latest national Association of Realtors, Florida is the top U.S. destination for international buying making up 26% of U.S. home buying transactions.

International buyers are now recognizing the benefits of buying property in South Florida now. Recent market adjustments offer buyers the lowest interest rate in over 15 years and healthy rates of appreciation due to demand from U.S. migration to South Florida and foreign buyers.

Miami International Airport has the third highest international passenger traffic in the United States, with 110 million visitors annually. Miami International Airport is known as the "Gateway to the America's" offering more flights between The U.S and the major Caribbean, South and Central American countries than all other U.S airports combined. Most flights are direct and under 3 hours.

Europe is only an 8-9 hour direct flight away from South Florida.

South Florida serves both business banking and tourism. The visitor industry is the number one moneymaker injecting $13.5 Billion into the local economy each year.

Because of the political and economical unsteadiness in South and Central America, Miami next to New York, has become the second largest international banking industry. Hosting over 150 financial institutions and over $61 billion in deposits, almost half of these are South American banks.

Miami is the largest pleasure cruise ship port in the world.

Miami-Dade County ranks 5th in the world among telecommunications centers.

The Miami Free Zone is the world's largest privately owned and operated foreign trade zone. It is also the only FTZ whose charter is held by a chamber of commerce (Greater Miami Chamber of Commerce).

The U.S. market has become much more attractive due to the fall of the dollar and the rise of the Euro and Pound. International buyers get much more value for their monies when purchasing in the U.S.; therefore, making the real estate market even more enticing.

BUYING NOW MAKES ABSOLUTE SENSE


Real estate is the most secure form of investment in South Florida and Miami has become a stable place for investors to shelter their monies.
Real Estate in South Florida

The current real estate recession in South Florida is isolated to areas that have used poor planning as part of their growth. The areas of concern are Downtown Miami and Brickell. These two neighboring areas have created over developed communities in the effort of fast-tracking their development growth. Due to the over-development, prices have dropped in these areas and throughout South Florida.





THE LOWEST PRICE IS NOT THE BEST DEAL

Although these two neighborhoods present the best price, it also brings the most concern in trying to carry the costs of operating these buildings and establishing a resale value that will appreciate.


THE BEST VALUE

All products in South Florida are currently being discounted. The best value is in a product, which is located in cities with beaches, and cities that are young and have appreciation of real estate as part of the improvement plan. The City of Sunny Isles Beach meets both criteria as it is in surrounded by water with incredible beaches and marinas.

The City of Sunny Isles Beach is a young city established in 1997 with a development plan that is supported by major developers such as The Related Companies, Turnberry Associates, Donald Trump and J. Milton & Associates. Billions of private equity dollars have been invested in this 2-mile-long beach city. Read about Sunny Isles Beach at www.sibfl.net.