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Home Buying in 33139 : Real Estate Advice

  • All142
  • Local Info6
  • Home Buying45
  • Home Selling13
  • Market Conditions5

Activity 27
Thu Jan 25, 2018
Madelyn Figueroa asked:
Wed Nov 30, 2016
answered:
Contact me i can give you all the details on FHA condo approvals.
We provide FHA/VA loans all the way down to a 580 fico. As a licensed real estate broker and mortgage broker over 10 years i can answer any questions you have throughout the process.

US Mortgage Lenders - Thomas Martin
Min FICO 580 FHA/VA Loan Approvals 7 days a week
PH: 954-667-9110
http://www.florida-mortgage-lenders.com/
http://www.fhamortgageprograms.com/
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0 votes 14 answers Share Flag
Mon Feb 23, 2015
Jeffrey Miller answered:
The day the lease begins is your move-in date, regardless if it's a holiday or not. If you would like to arrange a different move-in date, contact the property manager or landlord.
1 vote 3 answers Share Flag
Mon Feb 23, 2015
Jeffrey Miller answered:
Pamela,

Be careful not to damage your relationship with your landlord, as you will be working with him/her for the remainder for your rental period. I suggest first reaching out to them to explain that they were obligated to take care of the initial cleaning of the apartment. Ask them if they can promptly have someone come and clean the apartment, or offer to hire a cleaning service and direct the bill to your landlord. Hopefully this helps! ... more
0 votes 4 answers Share Flag
Fri Nov 14, 2014
William Papke answered:
Hi Marina,

Almost any broker in SOFLO can now obtain foreign national loans with 30% down, 2 years pf bank statements and a bank letter. I am looking through my list and will let you know what I find if you tell me us still need it.

William Papke
Interinvestments Realty
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0 votes 2 answers Share Flag
Mon Apr 28, 2014
Irina Karan answered:
Hello Michael,

It is your agent's responsibility to provide you with the receipt of the payment, which
serves as the receipt of the application.

Your agent should also inquire about the status - sometimes coming to the association's office in person, to establish a good relationship with them.

Some associations tell you upfront that it'll be 30 days, or 21 days...it is sometimes specified in your application packet.

You were also supposed to get a condo documents package: declarations of trust, articles of incorporation, bi-laws, rules and regulations, Frequently Asked Questions form and most recent year end financials. In these documents, it could also be specified - how long the association has to check a buyer's background.

Usually, associations hire 3rd party investigators to check foreign nationals' background.
These companies charge more for a foreign national background check.
They also take longer when it comes to a foreign national application.
Three to four weeks is pretty common.

Hope this was helpful,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
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0 votes 2 answers Share Flag
Mon Apr 28, 2014
Irina Karan answered:
Hello Kevin,

Great questions!

The dog not allowed in Miami Dade county is a pitbull.
Most buildings limit by pounds and some by breeds asking for the picture of the dog...
There are also buildings that don't allow dogs at all.

Condo association also tend to change the rules, so we got to call them and ask, to make sure.

Octagon Towers are ok with dogs 75lbs or less. They do have a special assessment of $140/mo. until 2019, and there are no active listings there at the moment, on 04.28.14. Flamingo So. Beach - you can rent there, paying $100 more per month for your pet ($50 for a smaller dog), and there is a $600 pet fee (one time). But, you can't buy - as condo rules don't allow dogs larger than 40 lbs.

There are other areas - in Brickell and Sunny Isles Beach that allow large dogs.
Porto Bellagio on Sunny Isles is great - it's a newer building with beautiful amenities, and you can buy a 1br at 250K.

Opera Tower allows large dogs, and it's in a great location in Downtown.

However, getting a mortgage is not an easy task in Miami - because of the lenders being very strict re. owner occupancy, default ratios, reserves, pending litigations, the right of first refusal etc.
Easiest way to buy is a Homepath foreclosure - you can buy in any building through Homepath financing, first checking their policy. Or, you can go through a non-standard lender - who might lend in the building that allows large dogs - but their rate will be higher.

Based on this, I feel it is easier for you to buy (while the prices are still affordable, as well as rates),
looking at large dog friendly buildings. If you don't like anything, then rent and continue looking.

Hope this was helpful,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
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0 votes 1 answer Share Flag
Wed Feb 19, 2014
Matthew Krinzman answered:
Harel,
Please feel free to get in contact with me and we can discuss your options regarding property to purchase here in Miami Beach.
Matthew
0 votes 1 answer Share Flag
Mon Mar 18, 2013
Michael Yablonicky answered:
This is a good question. As a seasoned agent of 13 years in the Miami Beach market, there are a couple interesting observations of the South Beach real estate market today:

First, the buyers have much better intentions now. In the mid 2000's during the pre-construction boom, most of the buyers were investors with unrealistic expectations trying to buy a lot with little down. Now, we are seeing more stable buyers, end users. Either first, second or third home owners who are looking to purchase properties in Miami Beach, not only as a 'more realistic investment' but also to use their homes and most of these buyers are paying cash.

Secondly, you must put the South Beach market in perspective. South Beach is roughly a 20 block by 10 block neighborhood. There is a limited number of homes in this area but the demand is enormous. Miami Beach, South Beach more particularly, is well known throughout three continents: North America, South America and Europe. There only needs to be a modest demand in these markets to exhaust the supply of available homes in South Beach.

In this Realtor's humble opinion, the South Beach real estate market is here to stay.
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2 votes 5 answers Share Flag
Fri Mar 1, 2013
Santiago Vitagliano answered:
Sure, there are several options in the market, but the key is understanding your expectations beyond simply enjoying several weeks of a year. For example, I have such a property in Ft. Lauderdale for my family who come and visit me from abroad. Investing with a specific purpose and time horizon is also important. Happy to listen to your ideas and determine which is the best strategy ... more
0 votes 7 answers Share Flag
Wed Nov 21, 2012
Miami Beach Condos And Homes answered:
We recommend the North Miami Beach area. It is an area of growth that is still developing and shows lots of promise and the city has invested in renovating the bandshell on 73rd.
0 votes 4 answers Share Flag
Tue Jul 31, 2012
Ines Hegedus-Garcia answered:
Florida is a "buyer beware" state, which means that you need to do your due diligence before purchasing the property. All code violations, liens, etc will be your responsibility. When your title company starts doing a title search, violations should come up and depending on how your purchase contract was drafted or whether you are buying with a bank loan, the seller will have to clear those faults or not before closing.
I am also an architect and can tell you that the city of Miami Beach will let you know what violations are present and as the answer before me states, depending on violation, you will be able to negotiate those.
It is definitely in your best interest to have seller resolve any issues with the city prior to closing.
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0 votes 11 answers Share Flag
Wed Jul 11, 2012
Angel Calzadilla answered:
Hi Nevena:
With all my respects , I encourage you to read a short article I wrote in my blog to advise foreing buyers to USA. Please clik on the link below :

http://www.trulia.com/blog/angel_calzadilla/2012/05/should_we_use_the_seller_s_realtor_as_our_buyer_s_agent

Those days of Wine & Roses when we closed residential real estate transactions in less than 30 days ARE GONE !!!

As a buyer from Europe you need a C.I.P.S. agent in Florida and I am one of them. Actually I wrote an article regarding to the C.I.P.S. and its achievements and results as well I am sure it will be of your interest:

http://www.trulia.com/blog/angel_calzadilla/2011/11/cips_benefits_achievements_and_results

If you decide to use my Real Estate services as a buyer, please do not hesitate to send me a message to my e-mail address and I will be glad to inform you with all aspects of your real estate needs. Thanks so much,

Angel Calzadilla, Real Estate consultant
Charles Rutenberg Realty LLC.

angelrealtor104@hotmail.com

(954) 632-3593

http://angelrealtor.southfloridamls.com
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0 votes 8 answers Share Flag
Sun Jun 10, 2012
Santiago Vitagliano answered:
I have one available for sale at $425,000 it has 2B/2B 1,250 sq.ft at the heart of miami beach , with a roof terrace and I don't have it listed in the MLS built in 1997

Contact me for additional details

SAVI
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0 votes 7 answers Share Flag
Sun Jun 10, 2012
Santiago Vitagliano answered:
Mon May 7, 2012
Phil Rotondo answered:
According to the Miami Association of Realtors, 9% of Miami residential real estate transactions in 2010 had a Brazilian buyer. Their projections for this year are 20%, more than double. ... more
0 votes 1 answer Share Flag
Sun Jun 19, 2011
Alistair Barrett-Powell answered:
Hi Bob,

First, in answer to your questions (based upon March 2012):

Q: How is the real estate market in Miami Beach? Is the price still declining, increasing or sideways?
A: Now is it booming. We have hardly any inventory available and prices are going up due to demand far exceeding supply

Q: Are there any condo buildings I should avoid due to financial position of the association?
A: Each condo building is completely different and there are some to avoid if you have set criteria that would result in a decision to avoid, but it's easier to find a few you like and we can get the financial history of it so you can make your own decision.

Q: Are there any restriction in renting? Are they easy to rent since there is too many condos built in Miami Beach?
A: The rental market is always moving and people are currently fighting for properties here in certain areas (mainly around Flamingo Park, small art deco buildings). You have a short term rental tax on all leases less than 6 months and most condo associations only allow either a minimum lease term OR maximum number of physical leases per annum. Therefore 2 maximum leases per annum means either 2 x 6 months or 2 x 1 week......

Q: Are there any areas of Miami beach I should avoid?
A: Miami Beach as a whole is pretty safe and a good investment. It's easier to discuss your individual goals so that we can find properties and areas that match

Q: Is investment on the Bay side better than on the Ocean side from future appreciation?
A: The ocean is always desirable! The bay however is where the locals tend to migrate to so you're more likely to get longer term tenants on the Bay (in my opinion)

Q: Is financing available if I have a good credit?
A: All depends on the building too. Credit yes definitely. Building, they need to look at financials etc. The MAIN issue we are having at the moment though is that appraisals are not stacking up and therefore banks are struggling to lend on properties. The prices have risen so quickly there are no comparables to support current prices therefore majority of transactions have to be pure cash or low financing percentage.

Q: Are there any areas still undervalued or GREAT BUYS?
A: There are always great buys and Miami Beach as a whole is always going to be a good buy due to constricted supply.

I'd love to get an opportunity to discuss your requirements in more detail. You can find out more information on us here: www.miamiexec.com and www.finehomesinmiami.com

Many thanks!

Alistair Powell
Miami Executive Realty
305.815.0880
ap@miamiexec.com
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0 votes 5 answers Share Flag
Sat Jun 4, 2011
Matthew Krinzman answered:
Hello Vincent,
As the other agents answered without knowing exactly which unit you are inquiring about it is difficult to assist you. FYI - Wells Fargo Bank is listed as the owner for 23 properties in Miami Beach. Please feel free to contact myself or any of the other agents that responded to your query.
Best regards
Matthew Krinzman
Evolution Residential
420 Lincoln Rd., Ste. 380
Miami Beach, FL 33139
305 303 8131
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0 votes 4 answers Share Flag
Fri Mar 11, 2011
Kms answered:
Marlen, you asked why these building ?! I have shortlisted these three building based on the following criteria :
1. location: south beach oceanfront
2. direct access to the beach
3. (partial) ocean view
4. low price per sqf
5. low prices starting at 180 k.
I have not seen many other buildings in this category. Actually there is one more, it’s the Decoplage… but of course I am open to others.... Thanks.
... more
0 votes 8 answers Share Flag
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