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Market Conditions in Miami : Real Estate Advice

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Activity 148
Thu Feb 2, 2017
Mayuriseeds1995 answered:
Sat Sep 10, 2016
Mariyaluci answered:
There really is no way to get close to a number per square foot with out seeing the home, understanding what needs to be done, etc. Building costs for homes can range anywhere from $60-$200+ per square foot depending on many, many things. If you were to build a very simple, slab on grade, with minimum code requirements, I'm confident you could come in at the lower end of the spectrum.
http://usaconstructionloans.com
... more
1 vote 7 answers Share Flag
Mon May 9, 2016
Diane Christner answered:
It is doubtful anyone from trulia will see your post here. Try contacting them directly through the customer service department.
0 votes 1 answer Share Flag
Fri Feb 12, 2016
Yanoska Diaz answered:
That's a whole lot of history! Let me give you an example of condos near by and you can do the math from there as the numbers will most likely apply to all areas of the county:

1,000 sqft 2/2 Condo Zip Code 33172

2005 $200,000

2008 $75,000

2012 $90,000

2013 $100,000

2014 $125,000

2015 $145,000

2016 $155,000

Whichever year in between I did not provide is simply because there was not a significant increase or decrease in values.

Hope this helps!
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0 votes 2 answers Share Flag
Tue Oct 6, 2015
Robert Krop answered:
If we knew that answer...we would all be millionaires.

Interest rates are pretty amazing right now, and that is definitely worth considering buying now vs later (assuming they go up more). ... more
0 votes 24 answers Share Flag
Tue Oct 6, 2015
Robert Krop answered:
The answer is unfortunately, its up to the appraiser (and the bank underwriter). Its at their discretion. If there are more than enough comps to use, they may not travel far away from your home or that far back in time. ... more
0 votes 4 answers Share Flag
Tue Oct 6, 2015
Robert Krop answered:
Ask a local realtor and they can get you that information.
0 votes 8 answers Share Flag
Thu Aug 20, 2015
Yanoska Diaz answered:
Because our rental market in stronger than ever! Where else can you acquire a property in prime location, again, prime location, for under $300K with a potential gross income of $3,800/month? Yes, we can do it here! The sun, the beach and everything else is just a HUGE bonus :) ... more
0 votes 4 answers Share Flag
Thu Aug 20, 2015
Yanoska Diaz answered:
The only percent you should spend is the one you agree to pay your Realtor. The agent in his/her presentation should be able to explain his/her best marketing plan.
0 votes 1 answer Share Flag
Sat Apr 11, 2015
Diane Christner answered:
If you are obtaining a loan when purchasing a home in FL, you can expect to pay the state of FL the following fees at closing -- Doc stamps on the deed at $ .70 per $100 of sales price, Intangible tax on the mortgage at $ .002 x mortgage amount.

Depending on how you word the offer, either you or the seller would be responsible for paying for the title search, exam and title policy (but buyer is responsible for their own lender required endorsements). The title policy is based on price of the home. For example, on a $300,000 home it would be $1575.

You will also be responsible for the recording fees to the county for recording your new mortgage.

Your lender should provide you with a Good Faith Estimate of closing costs. Lender related fees typically include things like: loan origination fees and points, appraisal fees, credit report, tax service fee, underwriting fee, document prep fee, flood certification fee. Some of those are negotiable, some are not -- your agent should be able to help you with that.

Lenders typically want you to pay one year of homeowner's insurance at closing. You will also be required to set up an Escrow Account at closing for property taxes, hazard insurance and if applicable, PMI (private mortgage insurance).

If the property is located within a flood zone, flood insurance will be required as long as you have a mortgage.

Your lender will collect at closing Prepaid Interest (which is calculated on date of closing to end of the current month).

A survey of the property will most likely be required.

Other costs are optional such as home inspection, termite inspection. Although optional, these inspections can be money well spend, so find a home inspector with both good credentials and a good reputation.

Builders of new construction homes use their own contract forms (vs the standard FAR-BAR used by most FL agents these days) and often have additional fees and charges built into the contract, so read those 50-80 page contracts very carefully.

Both FHA and VA loans have up front fees. Both FHA & VA require the seller to pay certain costs on behalf of the buyer, your lender should explain those to you.

Just before closing your lender should provide a preliminary copy of the actual Settlement Statement, known as the HUD-1. This will show the final closing numbers for both buyer and seller sides, including the buyer's actual closing costs and cash needed to close.

If you have found a home you are interested in making an offer on, have your lender provide you with a Good Faith Estimate based on your estimated purchase price. That is a much better source of costs to close than using a percentage estimate.

Regards,

Diane Christner, Realtor, GRI, SFR, CNE
Bright Realty
Sarasota, FL

www.DianeChristner.com
www.DianeChristner.info
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0 votes 2 answers Share Flag
Mon Mar 30, 2015
Donna Anderson Scharer answered:
The upper east side is growing extremely fast. There are still many single family homes.
Building that allow multiple rentals would benefit you most. There are many units that are already rented and the leases end shortly -- you can buy while occupied. Visit and then re rent.

Hoas differ drastically by pp square foot and the amenities of the building.

http://www.miamicondosbydonna.com
donna@relatedisg.com


I have many opportunities you may be interested in. Thanks.
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0 votes 4 answers Share Flag
Mon Mar 30, 2015
Donna Anderson Scharer answered:
Belle Mead Boulevard is located east of Biscayne in an area called the upper east side. The area is growing rather quickly. However, there are still some parts of the area that need to be revitalized. However, lucky for you, Belle Meade is located in a gate area of the neighborhood with a 24 hour guard booth. It's a wonderful neighborhood and I believe is undervalued.

Donna@relatedisg.com
... more
0 votes 5 answers Share Flag
Tue Mar 3, 2015
Oliver von Gundlach answered:
Robert, property value becomes important once you are in the market to sell. Are you interested in selling?
0 votes 4 answers Share Flag
Wed Sep 17, 2014
Arlene Buchanan answered:
Cherry Blossom Learning Center is great.
0 votes 2 answers Share Flag
Tue Sep 16, 2014
Jennifer Quinones, P.A answered:
Not enough info. What is the use of the office? When are looking to lease, etc?

If you are serious, our office is in the area and we can show you what is available and help you secure a location. ... more
0 votes 3 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
Sun Aug 10, 2014
Javier Olmedo answered:
This is what happens when an automated system calculates values. This is not as simple as formulas.

Javier Olmedo
Keller Williams Realty
0 votes 3 answers Share Flag
Sun Aug 10, 2014
Javier Olmedo answered:
You can check out everything and anything concerning our local public school systems in www.dadeschools.net

Good Luck,

Javier Olmedo
Keller Williams Realty
0 votes 3 answers Share Flag
Sun Aug 10, 2014
Javier Olmedo answered:
Ana,

No that would be too much money for this type of property. Your maintenance fee is around $300 period. Let me know if you need assistance with this listing as I can assist you in your Real Estate needs. I am very familiar with the area and community.

Thanks,

Javier Olmedo
Keller Williams Realty
... more
0 votes 1 answer Share Flag
Sat Jul 12, 2014
Mekel787 answered:
Demographics in Trails of chestnut meadows in forney, Texas
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