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Frances Khalwy's Blog

By Frances Khawly &The KhawlyTeam | Agent in 33330
  • The Mansions at Acqualina

    Posted Under: Home Buying in Miami, In My Neighborhood in Miami, Investment Properties in Miami  |  July 10, 2012 9:02 AM  |  1,484 views  |  No comments

    A new standard for luxury real estate in North Miami is being built along Sunny Isles Beach.  The Mansions at Acqualina are being developed by LPLA Partners and designed by Luxury Living-FENDI CASA, adjacent to the Aqualina Resort and Spa.

    Acqualina is a member of The Leading Hotels of the World, and is AAA's only Five Diamond hotel/resort on the beaches of Miami.  Acqualina is also cited as one of Andrew Harper's top beach and family resorts in Florida and is a Fodor's Gold Award recipient.

    The magnificent entrance will feature a marbled lobby with a 26-foot arched and coffered ceiling.  Amenities will include the world-famous Il Mulino New York restaurant, the award-winning Acqualina Spa by ESPA, Costa Grill and Acqualina Beach Club.

    Construction on this luxury high-rise with 79 “sky mansions” has begun, including the 15,000 sq. ft. “Palazzo di Oro” penthouse.  Pre-construction pricing is starting at $5 million.

    Purchasing a luxury home requires the talent and expertise of a real estate professional who is experienced in handling such sensitive transactions.  The combination of extensive real estate knowledge and unparalleled negotiation skills is exemplified by The Khawly Team – South Florida’s Real Estate Specialists.  Frances Khawly and her team have earned over 25 real estate certifications pertinent to the current real estate market.  If you are interested in consulting a Realtor to sell a luxury home in Miami, FL or buy a luxury home in Miami, FL, contact The Khawly Team online or call Frances Khawly directly at 754.422.2098.

  • Miami Real Estate has Global Appeal

    Posted Under: Home Buying in Miami, Home Selling in Miami, Investment Properties in Miami  |  June 26, 2012 8:52 AM  |  1,516 views  |  2 comments

    Miami has always been an eclectic city known for its international flare and cultural diversity within the community.  And now that real estate in Miami is more affordable than it has been in many years, international buyers are flocking to this vibrant metropolis and buying as much property as possible.

    According to DataQuick, foreign mailing addresses were attached to 5.3 percent of homes purchased in the last six months of 2011.  Out of a total population of 5,564,635, this figure accounts for a total of 294,925 Miami homeowners.  If that wasn’t impressive enough, the Miami metro area accounted for 30 percent of Florida’s international buyers’ pool.

    These foreign buyers are coming from various parts of the world, such as Latin America, Europe, and Canada.  Canada represented 70.5 percent of foreign buyers’ addresses, followed by 2.9 percent from Argentina and 2.3 percent from Venezuela – this according to public records data.

    83 percent of Realtors in Miami say that they have worked with an international buyer within the past year.  Half of these Realtors also said they have seen a dramatic increase in the number of foreign buyers just in the past six months alone.

    These buyers are attracted to the stability of the United States, relative to the rest of the world, and see a rare opportunity to purchase at low prices.  It is also much easier for a foreigner to buy real estate in the United States than it is in other parts of the world.  In fact, certain countries will not even allow non-residents to purchase property.

    If you would like to search for homes in Miami, contact Frances Khawly and the Khawly Team – Miami’s Real Estate Specialists.  With over 25 real estate certifications, a full-time team of knowledgeable professionals and hundreds of happy clients, you can trust that the sale or purchase of your Miami home is in qualified hands.

    Image(s): FreeDigitalPhotos.net

  • Homeowner’s Insurance for South Florida Real Estate

    Posted Under: Home Buying in South Florida, Home Insurance in South Florida, Investment Properties in South Florida  |  June 12, 2012 9:22 AM  |  1,545 views  |  No comments

    Allowing your homeowner’s insurance policy to lapse can be a costly mistake.  This is a lesson one South Florida real estate owner learned the hard way when he received notice that his annual plan would cost $18,000.

    Mark Kunzelmann, a North Palm Beach homeowner, let his homeowner’s insurance policy lapse – a policy that is required by the lender.  In the event that such a thing occurs, the lender is legally allowed to secure a new policy, passing the cost onto the borrower.  In this case, Kunzelmann’s policy went from $2,500/year to $18,000/year!

    While the ethics of such an exorbitant increase are certainly questionable – especially considering the fact that this amount included an 11 percent commission payment from the insurance company to the lender – the focus of this blog will be on prevention.

    Home insurance premiums are increasing an average of 10 percent each year, so when it comes time for you to renew yours, make sure you shop around.  Don’t base your coverage amount of the appraised value of your property, since this value includes land.  Rather, base it primarily on the value of your home and make personal possessions secondary.  If you’re not sure what the value of your home is, review your tax record – your home assessment should be listed separately from land.

    After you decide on the coverage amount, make sure you have a full understanding of what the policy covers.  Too often, homeowners don’t find out the limitations of their plan until they file a claim.  Needless to say, this is not the time you want to learn that something you thought was covered will not be covered after all.

    Stay on top of your deductible.  Insurance companies are notorious for changing these amounts without giving you prior notification, so do your due diligence to ensure that you are not caught off-guard.

    Last, but certainly not least, keep your homeowner’s insurance policy documentation organized and secured in a fire-proof box.  Conduct a home inventory – www.uphelp.org is a great site to help you with this – and pair the inventory worksheet with receipts, photos, etc. in your storage unit.

    If you would like to sell a home in Miami or search for homes in Miami, contact Frances Khawly and the Khawly Team – Miami’s Real Estate Specialists.  With over 25 real estate certifications, a full-time team of knowledgeable professionals and hundreds of happy clients, you can trust that the sale or purchase of your Miami home is in good hands.

    Image(s): FreeDigitalPhotos.net

  • Home Buying Tips for Miami Home Buyers

    Posted Under: Home Buying in Miami, Financing in Miami, Investment Properties in Miami  |  May 22, 2012 7:54 AM  |  505 views  |  No comments

    If you are looking to buy a home in Miami, FL, you’ll appreciate these home buying tips.  We’ve been hearing for the past few years that we are in a buyer’s market.  While that may still be the case, it’s not to the degree that it once was.  Sellers have much more leverage than they did just a year ago, and savvy buyers need to be aware of this before beginning a home search.

    The first step to any home-buying process is getting a pre-approval letter from a lender.  This simple document carries a lot of weight.  It tells the home owners that you are serious, and have already had your financials reviewed to ensure that you can afford the price of the home.  This letter will be submitted with your offer.

    When you are ready to place an offer, be prepared to negotiate.  If you are planning on offering below list, make sure you have the comps to support this offer.  Gone are the days where sellers would accept low-ball offers out of desperation.  If you do not have comps to support your offer, then consider other variables.  How long are your contingency timelines?  Are you waiving anything?  What else would entice a seller to accept your offer?

    If the property you are making an offer on is listed low, be prepared to compete.  Savvy sellers are incorporating this strategy to bring in multiple offers…and it often works.  Make sure the other elements of your offer are competitive as well.  Sellers like fast, clean closings.  Keep this in mind when creating your closing timeline and assigning contingency deadlines.

    Most importantly, communicate with your Miami Realtor.  Make sure that you are both on the same page with respect to what you want in a home, and what you feel comfortable paying for it.  There’s nothing worse than falling in a love with a home only to later realize it’s beyond your affordability, or out of your financial comfort zone.

    If you would like to search for homes in Miami, contact Frances Khawly and the Khawly Team – Miami’s Real Estate Specialists.  With over 25 real estate certifications, a full-time team of knowledgeable professionals and hundreds of happy clients, you can trust that the sale or purchase of your Miami home is in good hands.


    Image(s): FreeDigitalPhotos.net

 
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