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Downtown Miami : Real Estate Advice

  • All19
  • Local Info0
  • Home Buying6
  • Home Selling2
  • Market Conditions3

Activity 17
Sat Oct 14, 2017
Jeff answered:
2 yr. + + wait in list and most list are closed for most 99.8 list .. and if you are white the waiting list is closed and 5yr. wait but they can never call you since the waiting list are never opened to put your name?? ALL waiting is B/S .. it's a scam - there are no disabled Veterans provisions either this is housings way of thanking us .. so stay where ever you are because during your wait you will try renting a studio with no voucher / section 8 / Vets. Vash accepted and you will be here in Miami, but living under the bridge or in in a crack roach infested motel where rooms no bigger than 450 sq.ft. starting = yes i said STARTING at $1,000.00 per month - with paying firs, last and security .. a criminal and credit report with a fee of 100. - 250. And non voucher individuals fee for application is $50. - $200. Pet fees per animal is generally $500. 2 people MAX for studio 3 MAX people for a 1/1 and the pet fee applies to all applicants regardless if it is a documented veterans animal .. a lot of places are now making you pay a water bill separate from monthly rent BUT there is an alternative .. the drug, murder, rape, molesters, thieves "hot spots" within outlying zones of Miami can be a bit less expensive in these areas - the studios are running around $600. but you have to be desperate in order to put yourself in these hot spots .. call the police if you want a listing of these hot spots that satan and all his demons are running wild. DONT do it if you have kids I begg of you, so many school aged kids are the new victims being shot / murdered for NO apparent reason .. Take heed readers .. ... more
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Wed Jun 1, 2016
Jim asked:
I'm currently on the back end of financing with Citi and this came up with the condo questionnaire. I've looked at the court dockets for the lawsuit and it seems like the HOA is…
0 votes 0 Answers Share Flag
Tue Oct 6, 2015
Robert Krop answered:
That all depends on the contract terms with the builder and what they are willing to do.
0 votes 12 answers Share Flag
Tue Aug 12, 2014
Pamela Mendoza answered:
Omg, I want it for me... Adam, I am currently working with a group of international investors that might be interest in the area. I will let you know. Thank you for the offer.
0 votes 4 answers Share Flag
Tue Aug 12, 2014
Pamela Mendoza answered:
Yes definitely, right now I am working with a buyer that after making an offer on a condo unit he liked a lot, his lending agent let him know that the condominium did not meat Lender's Criteria because of delinquencies and lack of reserve funds. And now we are debating between going to another lender with a more flexible loan option like "Homesteps" or just switching properties all together. This has taught me that I will do a more complete research of the condominium before deciding to put an offer on it and spend all that precious time. ... more
0 votes 5 answers Share Flag
Wed Nov 14, 2012
Zichelle Team answered:
The location of the unit in terms of height in the building does effect the rental rate. You can expect to pay a premium of up to $300-$400 for higher floor location. 2 bedrooms in Brickell Area should be running around 2,400-2,500 for a typical unit. This would need to be adjusted based on view (city vs bay), floor location and building amenities. ... more
0 votes 9 answers Share Flag
Fri Feb 19, 2010
Adrian Diaz Sieckel answered:
Hi Nancy,

At the closing table don't forget documentary stamp tax at closing beside attorney, title, mortgage and other misc closing costs as outlined by Bill below. This is all spelled out in your HUD statement that you will receive just prior to closing to review the accuracy of the costs of the transaction.

Once you own it you are going to pay utilities, property tax, mortgage and association dues. When you look at your potential condo purchase review the budget and condition of property to make sure you don't get a special assessment for renovations, shortfalls (delinquencies) or other such things.

Property taxes vary from city to city as well and the concept of appraisal for taxing purposes and sale value are different so keep an eye on what is called the millage rate for your city.

If you need any other information or want to know where to look just shoot me an email or call and I'll be happy to help if you need it.

Sincerely,
Adrian
... more
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Fri Jan 22, 2010
Adrian Diaz Sieckel answered:
http://www.emh3.com/web/blognews/

Touches on whats happening infrastructure wise to the city and some shameless plugs on the brokerage itself.
There is also a newslink:

http://www.emh3.com/web/news/

This page compiles all real estate related news for the Local, Regional, State and International real estate markets. It updates automatically or as the various news feeds that make up the page are updated.
... more
1 vote 8 answers Share Flag
Wed Jun 17, 2009
Jake Johnson answered:
Hi Maria,

My name is Jake Johnson and I work with one of the largest nationwide bankers in the country. We can do purchase loans down to 531 credit scores with proof of rent checks and a decent history the last 12 months. Email me at jjohnson@lendamerica.com if you have any questions. ... more
0 votes 18 answers Share Flag
Thu Jun 4, 2009
Nayla Benitez answered:
Hi Robh,

We spoke during the week. I have the information you requested but did not get your e-mail. Please send me an e-mail with your info so I can reply. Thanks

Nayla Benitez
EWM Realtors
... more
0 votes 5 answers Share Flag
Thu Jun 4, 2009
Bob Galivan answered:
The condo association has that info, and they are typically not willing to provide that info outside of the condo questionnaire requested by the lender (for which they charge). Some of the key questions are:
-How many unit owners are behind on their maintenance fees?
-How many units have been foreclosed or are in foreclosure?
-Do you have reserves sufficient to meet the planned deferred maintenance?
-How many vacant units are there in the building?
-How many units are owner-occupied?

There's more info, but looking at the financials and obtaiing that info will be a good way to start.
... more
0 votes 2 answers Share Flag
Mon Jun 1, 2009
Doc & Ellen Stephens answered:
Hi, Gabbi,

Lots opf good answers. I just wrote a blog on my experience with this scam: http://www.trulia.com/blog/ellen_doc_stephens_realtors/2010/06/rental_scam_targets_online_searchers

Since then, I have found that they are using all kinds of listings, not just rentals. We have found several high dollar expired listings or properties that were sold months ago now marketed on those "list" sites as low cost rentals. Remember, if it looks too good to be true, it probably is.

Many think if they read it, especially on the internet, it must be true. NOTHING could be further from the truth.

Doc
... more
0 votes 53 answers Share Flag
Sat May 30, 2009
Nadine Mauro answered:
Nimesh,

The view would probably be better on the 40th floor. However, if the power goes out, thats a lot of stairs to climb to get to your home. You wuold want to know if there is a backup generator for the bulding.

Nadine Mauro
Regency Realty Services
561-414-0864
www.FloridaHouseSeller.ListingBook.com
NadineMauroRE@yahoo.com
... more
0 votes 6 answers Share Flag
Fri May 29, 2009
Antonios answered:
I own a unit in 50 Biscayne that I am interested in selling. 2bed/2bath with den 47th floor. I planned on moving to Miami permanently but work situation did not work out. The Building has no financial difficulties and only 1-2 foreclosures out of 550+ units.

contact me if you'd like to discuss in more detail.
... more
0 votes 6 answers Share Flag
Tue Sep 9, 2008
Mott Marvin Kornicki answered:
Use the zip code fiels in the mlxchange database and make sure that you are searching for CS, in the residential or condo section. You can also do it by cross reference to include both SFR and Condo. ... more
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Thu Jul 31, 2008
RN answered:
Trendgraphix or www.mlxchange.com can't give you that?
0 votes 1 answer Share Flag
Sun Jul 20, 2008
Dimitry answered:
Dear Jeff,
You should hold off on buying commercial properties for a few more months. I cannot predict for sure, but I think that sellers will come down to realities of a "stabilized" market sooner than later.
Having said that, you can already find great deals to buy in Miami-Dade county if you are buying an apartment building. Retail will go down soon, Office went down a little, and Industrial is resilient with the first signs of weakness as of May-June, 2008.

Overall foreclosure rate for commercial properties is around 2.5% percent nationwide. It is not expected to go up that much unless U.S. economy tanks completely.

This low figure of foreclosures among commercial properties represents the type of loans that were secured (conduit, fixed amortized over 25-30, or other type of low risk loans). Unless it was a hard lender that gave a loan for a commerical contruction, no major foreclosures are going to be coming in commercial market anytime soon.

Overall returns on commercial properties will rise with interest rates going up. Right now, you can easily get 7% return day one on Apartmen buildings in Dade county 1 million dollars and up in price.

Email me if you want more information:
dasanov@marcusmillichap.com
... more
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