Coral Gables...List to Sold ratio for Sept.2012

Search Criteria
Status	A , CS , PS , T , X , W
County	DADE
City Name	CORALGBL
List Price	between 500,000 - 3,000,000
Closing Date	between 9/1/2012 - 10/1/2012
Entry Date	between 9/1/2012 - 10/1/2012

Report time: 10/27/2012 3:56 PM

Contact Us  for a Confidential Market Analysis.

We KNOW how to Market your upper-tier property effectively !!

All the Best,
Esperanza Franky "espie"
Realtor
Member of The Institute for Luxury Home Marketing
Certified Strategic Marketing Specialist

"Selling Miami Estates" team with One Premier International Realty

Cel: 305.283.5868
Email:  espiefranky@gmail.com   
4944 So Le June Road. Coral Gables.

Open House _Sunday October 28 from 12 -3pm

New Home sales rise Highest in 2.5 years.....

Sales of new U.S. homes jumped last month to a seasonally adjusted annual rate of 389,000, the highest level since a homebuyer’s tax credit boosted sales in April 2010.

The Commerce Department says new home sales rose 5.7 percent in September, up from 368,000 in August. Sales have risen 27.1 percent in the past year. That’s the strongest yearly gain since February, although sales are still well below healthy levels.

The figures do suggest the housing recovery is strengthening. Home prices are rising, builders are more confident and are breaking ground on more homes, and sales of previously occupied homes have increased in the past year.

Rising sales are keeping inventories low. There were 145,000 new homes for sale at the end of September, near the record low of 143,000.

** info from Florida Realtor magazine

Think on Selling?

Call me for Confidential Market Analysis.

Espie Franky _Realtor Luxury Member

Dir:305.283.5868

ARM's offer super low interest rates for Jumbo Loans!

NEW YORK – Oct. 23, 2012 – Once blamed as one of the culprits behind the flood of foreclosures in recent years, adjustable-rate mortgages are back and rising in popularity, particularly among luxury homebuyers, The Wall Street Journal reports.

ARMs offer super-low interest rates – at least for a certain period – compared to fixed-rate mortgages and are tempting homebuyers once again. ARMs can have a fixed-rate mortgage rate for a certain number of years, such as five or seven years, before they start fluctuating with the market and the monthly mortgage payments start rising.

For homebuyers who need a jumbo loan, ARMs are particularly tempting. ARMs make up 30 percent to 40 percent of the private jumbo market at Bank of America. They make up about half of all private jumbo loans by NASB Financial.

“Lenders say high-net-worth buyers face relatively little risk because they can tap liquid assets to pay off a loan should a sudden spike in rates occur,” according to The Wall Street Journal.

As such, high-end buyers are considering ARMs to finance their home purchases and unlocking some savings. For example, the rates could be as low as 2.82 percent on a jumbo 5/1 ARM, compared to 4.06 percent on a 30-year fixed-rate jumbo loan, according to HSH.com, a mortgage information website.

“Over the first five years, borrowers with the 5/1 ARM would save nearly $90,900 in interest on a $1.5 million mortgage compared with a fixed-rate jumbo,” The Wall Street Journal notes.

***Source: “Buyers Run Back Into Open-Ended ARMs,” The Wall Street Journal (Oct. 19, 2012)

Florida Realtors magazine.

So Florida Architecture, luxury at COCHRANE MANOR for Sale !

Open House next Sunday October 28th, 2012 from 12 noon - 3pm. This 4 bedrooms & 3 bathrooms Single Family lHome located at 7401 SW 70 TE, Miami area, Florida is presented by Esperanza Franky; Luxury Member, BBA of One Premier International Realty.

Cordially invited to visit its web site:  www.7401SW70TE.com

"Turn Key Home" in luxurious Doral Isles

This 4 bedroom 2.5 bathroom Single Family located at 11030 NW 58 Terr, 30, Doral, Florida is presented by Esperanza Franky Luxury Member, BBA of One Premier International Realty.

visit its video tour :   www.11030NW58TE.COM

South Florida Residential Inventory...10-20-12

South Florida Residential Inventory

October 16, 2012 03:00PM

Compiled by Condo Vultures Realty using the South Florida Shared Multiple Listing Service. Active listings are properties where no current sale contract exists; pending sales are properties in which a contract for sale has been executed, but not yet closed. Listing brokers control the status of a property listing.

** Info from South Florida Real News (magazine)

Fla.’s housing market continues upswing in Sept. 2012

ORLANDO, Fla. – Oct. 19, 2012 – Florida’s housing market had higher pending sales, higher median prices and a reduced inventory of homes for sale in September, according to the latest housing data released by Florida Realtors®.

“Florida’s real estate market is no longer in recovery mode – stability and growth gain solid footing,” said 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “Realtors across the state are reporting consistent increases in home sales and median prices, and multiple offers from buyers isn’t unusual. In fact, increasing buyer demand in many local markets is creating inventory shortages – and that’s putting pressure on prices. For sellers who may have been reluctant to enter the market, it’s now time to reconsider. Conditions are turning to a sellers’ market.”

Statewide closed sales of existing single-family homes totaled 15,643 in September, up 2 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing. Closed sales typically occur 30 to 90 days after sales contracts are written.

Meanwhile, pending sales – contracts that are signed by not yet completed or closed – of existing single-family homes last month rose 40.1 percent over the previous September. The statewide median sales price for single-family existing homes in September was $145,000, up 7.4 percent from a year ago.
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A new housing boom by 2015?

ATLANTA – Oct. 17, 2012 – The housing market has been showing several signs of recovery, including home prices and home sales on the rise, new construction up, foreclosures falling and mortgage rates near record lows. Some economists are getting very bullish about the housing recovery and even predicting that the market will return to its “boom” level days in just three years.

In a recent report, Barclays Capital predicts that home prices could be back to peak levels by 2015. Barclays is predicting home prices to rise 5 percent to 7.5 percent a year.

“In our view, the housing market had undergone a dramatic over-correction during the prior five years, resulting in pent-up demand for housing purchases that would spark a rapid rise in housing starts,” says Stephen Kim, an analyst with Barclays.

Home construction is also expected to soar, rising 20 percent or more a year for the next year, according to some economists’ forecasts. The new-home market could return to its pre-bubble average of about 1.5 million new homes a year by 2016, CNNMoney reports. That would double the construction level expected this year.

“That turn in the (housing) market is occurring now and it should become a boom by 2015,” Roger Altman, chairman of Evercore Partners and a former deputy Treasury secretary, told CNNMoney.

***Info from  “A New Housing Boom,” CNNMoney (Oct. 12, 2012)

Portability ...how to Calculate it !!

Portability - Calculating the Homestead Assessment Difference

Generally, there are two major components in calculating portability known as upsizing and downsizing. Here is how it works: Portability Upsizing Example Prior Home New Home Market Value $250,000 Market Value $400,000 Assessed Value - $150,000 Portable Amount - $100,000 Portable Amount $100,000 Assessed Value $300,000 Portability Downsizing Example Prior Home New Home Market Value $250,000 Market Value $150,000 Assessed Value - $150,000 Portable Amount* - $ 60,000 Portable Amount $100,000 Assessed Value $ 90,000 *Note: portable amount is 60% of the previous assessed value. Here is how it is calculated: 150,000 / 250,000 X 150,000 = $90,000. Also, Port benefits may be reduced if the benefit is split among multiple homestead owners. The maximum portable benefit is $500,000 **info from Miami Dade tax appraisal office. If thinking on Selling Real Estate, contact me for a Confidential Market Analysis !! All the Best, Esperanza Franky "espie" Realtor Member of The Institute for Luxury Home Marketing Certified Strategic Marketing Specialist "Selling Miami Estates" team with One Premier International Realty Cel: 305.283.5868 Visit our Blog: www.rivieracoralgables.com Marketing Florida Real Estate at the Highest Level !

VOTE YES !! .....Amendment 4 would revive housing market

Amendment 4 would revive housing market

TALLAHASSEE, Fla. – Sept. 28, 2012 – Leticia Adams, director of Infrastructure and Governance Policy for the Florida Chamber of Commerce, wrote the following editorial that appeared in today’s Sunshine State News:

When Floridians head to the polls in November, they should vote yes on Amendment 4, giving homeowners and small businesses across the Sunshine State a chance to rein in property tax hikes.

Florida’s economy has traditionally been dependent on a strong housing market, but this important sector was impacted hard by the Great Recession that the Sunshine State is still recovering from. Florida voters can give this core component of our economy a needed boost and lead the way to new growth and opportunities by supporting Amendment 4 on the November ballot.

Amendment 4 will untie the Legislature’s hands so it can put an end to the unfair state “recapture” law. Under the recapture law, property taxes can increase on homes even as their property values plummet. Asking Floridians to pay more taxes on homes that are declining in value is simply wrong and Amendment 4 will let the Legislature end this injustice.

Amendment 4 reduces the cap on assessment hikes for non-homestead properties from 10 percent to 5 percent each year. This will be a boon to small businesses, which are the backbone of Florida’s economy. Small businesses create four out of five new jobs in our state and Amendment 4 will help them continue to remain an essential part of our economy. Amendment 4 will give small businesses across Florida needed tax savings that can be used to reinvest in our communities by creating new jobs, lowering prices for consumers, and increasing salaries for employees.

By lowering the cap on assessment increases, Amendment 4 will help recruit more companies to invest in Florida. These new investments will provide more economic growth and new jobs. Florida TaxWatch, a nonpartisan watchdog that was instrumental in launching Amendment 4, found that it will increase Florida’s GDP by almost $929 million and create more than 19,000 new jobs in the Sunshine State over a 10-year period.

Studies from Florida TaxWatch show that Amendment 4 will lead to an increase in new home sales across the state. Some estimates find that Amendment 4 could generate as many as 384,000 new home sales over a 10-year period. In addition to the tremendous boost to Florida’s struggling housing market, Amendment 4 will help lower the number of abandoned foreclosures that drag down property values in neighborhoods all across the state, and add more cash to the pockets of Floridians – more than $5.3 billion.

While housing has traditionally been one of the cornerstones of Florida’s economy, now it is a major factor in why our economy continues to lag behind the rest of the nation. Amendment 4 will help move the housing market back on track leading to more sales, increased property values and personal wealth, and more jobs. By supporting Amendment 4, voters will help lead Florida to a growing and vibrant economy and continue to make the Sunshine State a great place to live and do business.

*** From  Florida Realtors® magazine