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Angel Calzadilla's Blog

By Angel Calzadilla | Agent in Fort Lauderdale, FL
  • Rental properties in West Miami Lakes, FL.

    Posted Under: Rental Basics in Miami Lakes, For Rent in Miami Lakes, Rentals in Miami Lakes  |  March 3, 2013 1:55 PM  |  2,091 views  |  No comments
     
     
    There is a link below with the information of the 8 properties ( single homes and condos) available for rent as per March 2013, in West Miami Lakes, Florida: 
     

    http://southfloridamls.com/DotNet/Pub/EmailView.aspx?r=1577701813&s=FLL&t=FLL 
     
    Send e-mail from your personal account if you want to view any of that properties as well as for offer contract, please. 
     
    Thanks,
      Angel Calzadilla, realtor.
    Charles Rutenberg Realty 
     
    angelrealtor104@hotmail.com
      (954) 632-3593
  • More homes facing foreclosure risk in June

    Posted Under: General Area in Miami Lakes, Financing in Miami Lakes, Foreclosure in Miami Lakes  |  July 12, 2012 12:47 PM  |  1,412 views  |  No comments

    Banks are increasingly placing homes with unpaid mortgages on a countdown that could deliver a swell of new foreclosed properties onto the market by early next year, potentially weighing further on home values.

    June provided the latest evidence of this trend, as the number of U.S. homes entering the foreclosure process for the first time increased on an annual basis for the second month in a row, foreclosure listing firm RealtyTrac Inc. said Thursday.

    California in particular saw a big spike in foreclosure starts, or homes placed on the foreclosure path for the first time. They increased 18 percent versus June last year, the firm said.

    The increase in foreclosure starts comes as banks make up for time lost last year as the mortgage-lending industry grappled with allegations that it had processed foreclosures without verifying documents.

    The nation’s biggest mortgage lenders reached a $25 billion settlement in February with state officials. And that’s cleared the way for banks to address their backlog of unpaid mortgages.

    Lenders initiated foreclosure on 12 percent of the loans behind in payment in June – the highest level since the first half of 2009, according to Fitch Ratings.

    “These properties that are starting the foreclosure process are mostly homeowners who likely have been missing their payments for a year or more and just now are officially starting the foreclosure process,” said Daren Blomquist, a vice president at RealtyTrac.

    That means the latest crop of homes entering the foreclosure process does not signal that there is a fresh wave of homeowners in distress and missing payments.

    Still, the increase in foreclosure starts sets the stage for a potential increase in homes sold at a discount via short sale, when the lender agrees to accept less than what is owed on the seller’s mortgage. Others could end up taken back by banks and placed on the market also at a sharp discount.

    Either way, short of homeowners obtaining loan modifications or otherwise arranging to exit the foreclosure process, many of these properties could end up adding to the inventory of foreclosed homes on the market, dragging down the values of nearby homes.

    Those homes may not hit the market for many months, however.

    In the second quarter, it took an average of 378 days for a U.S. home to complete the foreclosure process, or the point when a bank takes over the property, RealtyTrac said. That’s up from an average of 370 days in the first three months of the year and a record going back to the first quarter of 2007, the firm said.

    In New York, it took an average of 1,001 days for the foreclosure process to run its course in the second quarter, down from 1,056 days in the first quarter.

    Of the homes that entered the foreclosure process in June, those that end up as bank-owned properties would likely hit the market a year from now, Blomquist said.

    “However, if they take the short sale route, it may be sooner,” he said.

    Short sales take, on average, 319 days to sell from the time they enter foreclosure.

    A stronger housing market could mitigate the impact of future foreclosures on home prices, and home sales are expected to end up ahead of last year. But many economists still say the market is years away from a full recovery.

    There are some 3 million U.S. homes behind on their mortgages, according to the Mortgage Bankers Association.

    An additional 629,000 homes were on banks’ books as of June, but not yet sold. That translates into a 15-month supply, at the current pace of sales, according to RealtyTrac.

    And nearly 13 million home loans are underwater, or owing more than the house is worth. Those properties could be at higher risk for entering the foreclosure process.

    Even so, the backlog in foreclosures that banks are still dealing with has slowed the pace of home repossessions.

    RealtyTrac forecasts some 700,000 homes will be repossessed by lenders this year, down from about 1 million last year. 
     
    Angel Calzadilla, Real Estate agent.
  • REBarCamp mixes education and networking

    Posted Under: Agent2Agent in Miami Lakes  |  July 11, 2012 12:18 PM  |  1,147 views  |  1 comment

    The third annual REBarCamp Orlando “unconference” takes place Wednesday, Aug. 8, 9 a.m. to 4 p.m. at the Marriott World Center in Orlando. The event is free and independent from the full Florida Realtors Convention & Trade Expo.

    This year, all business topics are up for consideration, not just technology and social media trends. Hundreds of Realtors and affiliates are expected to attend this collaborative event.

    “REBarCamp Orlando doesn’t solve every problem a Realtor has – but if it solves one problem, the experience is worthwhile,” says Debbie Kirkland, president of the Tallahassee Board of Realtors and organizer of this year’s REBarCamp. “For instance, if you are having a problem with a short sale, lead a brainstorming session. Other Realtors will tell you how they dealt with it. It’s empowering to simply meet fellow Realtors who share your problems and challenges.”

    Kirkland, a Realtor with Armor Realty of Tallahassee, says REBarCamp is like any networking event – except nobody is selling his or her services. The emphasis is on sharing, collaboration and taking your business to the next level.

    For people new to the REBarCamp scene, the concept is sometimes hard to envision. Normally, education sessions take place in big rooms, where one person talks and everyone listens. At REBarCamps, the opposite is true. Everyone has the chance to participate. Attendees decide on the topics that day. They drive the discussions and pick and choose among more than 30 small-group sessions during the daylong event.

    “Basically, you mingle, seek out like-minded people and then walk away with an incredible amount of information,” Kirkland says. “In one room, the group might be discussing videos and the easiest ways to use them in online marketing. If you already understand that topic or aren’t ready to tackle videos, simply move to the next room."

    Many times, discussions spill out to the halls and even to meet-ups after the event where the “Bar” aspect of the event comes into play.

    In 2011, more than 400 Realtors attended REBarCamp. Even though the event is free, you must register. Go to http://www.rebarcamporlando.com/ and sign up.
  • How to Deduct Your Mortgage Interest & Equity Loan Costs

    Posted Under: How To... in Miami Lakes  |  March 22, 2012 3:29 PM  |  807 views  |  2 comments

    Deducting mortgage interest, as well as interest on home equity loans and HELOCs, can save money on taxes.

    Know your loan limits

    A good place to check out what you can deduct before you borrow is the chart on page 3 of IRS Publication 936. It'll walk you through the requirements you must meet to deduct all of your home loan interest. It's an hour well spent.

    The first hurdle you'll run into is the total amount of your loan or loans. In general, individuals and couples filing jointly can deduct the interest on up to $1 million ($500,000 if you're married and filing separately) in combined home loans, as long as the money was used for acquisition costs, that is the cost to buy, build, or substantially improve a home, explains Scott O'Sullivan, a certified public accountant with Margolin, Winer & Evens in Garden City, N.Y. Any interest paid on loan amounts above the $1 million threshold isn't deductible.

    The same $1 million limit applies whether you have one home or two. Buying a vacation home doesn't double your loan limits. And two homes is the max; you can't deduct a mortgage for a third home. If you have a mortgage you took out before Oct. 13, 1987, you have fewer restrictions on claiming a full deduction. The calculations for "grandfathered debt" can get complex, so get help from a tax professional or refer to IRS Publication 936.

    Whatever you do, don't forget that you can also deduct the points and fees associated with a first or second mortgage when you initially buy your home, says Jeff Rattiner, a CPA with JR Financial Group in Centennial, Colo. If you refinance the same house, you have to deduct those costs over the entire term of the loan. If you refinance again, you can deduct all the costs from the earlier refi in the year you take out the new loan.

    Spend loan proceeds wisely

    The other limitation on how much you can borrow and still get your deduction comes into play when you take out a home equity loan or HELOC that you don't use to buy, build, or improve your home. In that case, you can deduct the interest you pay only on the first $100,000 ($50,000 if married filing separately). This loan limit also applies in a so-called cash-out refi, in which you refinance and take out part of the equity you've built up as cash, says John R. Lieberman, a CPA with Perelson Weiner in New York City.

    That means if you decide to take out a $115,000 home equity loan to buy that Porsche, you can deduct the interest on the first $100,000 but not on the $15,000 that exceeds the limit. Use the same $115,000 to add a new bedroom, however, and the full amount is allowable under the $1 million cap. Keep in mind, though, that the $115,000 gets added into the pot of whatever else you owe on your other home loans. In many cases, points and loan origination costs for HELOCs are deductible.

    Consider this simplified scenario: You borrow $250,000 against your home at 8% interest. That means you'll pay $20,000 in interest the first year. Spend the $250,000 on home improvements, and all of the interest is deductible. Spend $150,000 on improvements and $100,000 on your kids' college tuition, and all the interest is still deductible.

    But spend $100,000 on improvements and $150,000 on tuition, and the improvement outlays are deductible, though $50,000 of the tuition expense isn't. That'll cost you $4,000 in interest deductions. Preserve the $4,000 deduction by coming up with the extra money for tuition from another source, perhaps a low-interest student loan or by borrowing from a retirement plan. For someone in a 25% bracket, a $4,000 deduction lowers taxes by $1,000, plus applicable state income taxes.

    Beware the dreaded AMT

    Even if you've followed all the loan limit rules, you can still get stuck paying tax on mortgage interest. How come? It's all thanks to the Alternative Minimum Tax. Congress created the AMT, which limits or eliminates many deductions, as a way to keep the wealthy from dodging their fair share of taxes.

    Calculating the AMT can be complex, but if you make more than $75,000 and have several kids or other deductions, you might well be subject to it. Problem is, if you fall into the AMT group, you may not be able to deduct interest on a home equity loan, even if the loan falls within the $1 million/$100,000 limit. If you're subject to the AMT and borrow money against the value of your home, you'll have to use it to buy, build, or improve your place, or you may not have a chance to deduct the interest

 
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