Housing Forecast 2018, Ease in Inventory constraints and sharp rise in prices!

According to Realtor.com's 2018 National Housing Forecast, U.S. housing inventory constraints have fueled a sharp rise in prices and made it difficult for buyers to gain a foothold in the market. But that is expected to change next year as part of broader and continued housing market improvements.

The easing of the inventory shortage, which is expected to result in more manageable increases in home prices and a modest acceleration of home sales, is based on an inventory growth trend that began in August 2017, according to Realtor.com. The annual forecast, which is among the industry's bellwethers in tracking and analyzing major trends in the housing market, also expects an increase in millennial mortgage share and strong sales growth in Southern markets. The wildcard in 2018 will be the impact of the tax reform legislation currently being debated in Congress.

"We are forecasting next year to set the stage for a significant inflection point in the housing shortage," said Javier Vivas, director of economic research for Realtor.com. "Inventory increases will be felt in higher priced segments after home buying season, which limits their impact on total sales for the year. As we head into 2019 and beyond, we expect to see these inventory increases take hold and provide relief for first-time home buyers and drive sales growth."

Top Five U.S. Housing Trends for 2018 Include:

1. Inventory begins to increase - Beginning in August 2017, the U.S. housing market started to see a higher than normal month-over-month increase in the number of homes on the market. Based on this trend, realtor.com projects U.S. year-over-year inventory growth to tick up into positive territory by fall 2018, for the first time since 2015. Inventory declines are expected to decelerate slowly throughout the year, reaching a 4 percent year-over-year decline in March before increasing in the early fall, after the peak home-buying months. Boston, Detroit, Kansas City, Nashville and Philadelphia are predicted to see inventory recover first. The majority of this growth is expected in the mid-to-upper tier price points, which includes U.S. homes priced above $350,000. Starter homes are expected to take longer to recover because their levels have become so depleted by first time buyers.

2. Slowing price appreciation - Home prices are forecasted to slow to 3.2 percent growth year-over-year nationally, from an estimated increase of 5.5 percent in 2017. Most of the slowing will be felt in the higher-priced segment as more available inventory in this price range and a smaller pool of buyers forces sellers to price competitively. Entry-level homes will continue to see price gains due to the larger number of buyers that can afford them and more limited homes available for sale in this price range.

3. Millennials gain market share in all home price segments - Although millennials will continue to face challenges next year with rising interest rates and home prices, they are on track to gain mortgage market share in all price points, due to the sheer size of the generation. Millennials could reach 43 percent of home buyers taking out a mortgage by the end of 2018, up from an estimated 40 percent in 2017. With the largest cohort of millennial expected to turn 30 in 2020, their homeownership market share is only expected to increase.

4. Southern markets will lead in sales growth - Southern cities are anticipated to beat the national average in home sales growth in 2018 with Tulsa, Okla.; Little Rock, Ark.; Dallas; and Charlotte, N.C.; leading the pack. Sales are expected to grow by 6 percent or more in these markets, compared with 2.5 percent nationally. The majority of this growth can be attributed to healthy building levels combating the housing shortage. With inventory growth just around the corner, these areas are primed for sales gains in years to come.

5. Tax reform is a major wildcard - At the time of this forecast, both the House and Senate had bills up for consideration, because neither had passed at the time they were not included in the forecast. Both proposed tax changes had provisions that are likely to decrease incentives for mobility and reduce ownership tax benefits. On the flip side, some taxpayers, including renters, are likely to see a tax cut. While more disposable income for buyers is positive for housing, the loss of tax benefits for ownership could lead to fewer sales and lower prices with the largest impact on markets with higher prices and incomes.

Next year, home prices are anticipated to increase 3.2 percent year-over-year after finishing 2017 up 5.5 percent year-over-year. Existing home sales are forecast to increase 2.5 percent to 5.60 million homes due in-part to inventory increases, compared to 2017's 0.4 percent increase or 5.47 million homes. Mortgage rates are expected to reach 5.0 percent by the end of 2018 due to stronger economic growth, inflationary pressure, and monetary policy normalization in the year ahead.

2018 Top U.S. Housing Markets (based largest sales and prices gains)

1. Las Vegas-Henderson-Paradise, Nev.
2. Dallas-Fort Worth-Arlington, Texas
3. Deltona-Daytona Beach-Ormond Beach, Fla.
4. Stockton-Lodi, Calif.
5. Lakeland-Winter Haven, Fla.
6. Salt Lake City, Utah
7. Charlotte-Concord-Gastonia, N.C.-S.C.
8. Colorado Springs, Colo.
9. Nashville-Davidson--Murfreesboro--Franklin, Tenn.
10. Tulsa, Okla.

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How to Choose a Real Estate Agent to Sell Your House?

When you decide to buy a home for yourself, you make sure to have a real estate agent to do the job for you. When you’re out there shopping for an estate agent you make sure that you get the best one in the town. There are many home sellers and some top realtor that can get your attention through ads, banners, and so much advertising stuff. This advertising stuff makes you know that there are many real estate agents out there, waiting for your one call or visit at their office.

There are some key points that you should always follow while hiring a real estate agent for getting you the best house deal;

How to Choose a Real Estate Agent

Recent clientele:

Before making a deal with a real estate agent, always check his or her client history. You don’t have to be a spy for that. You should just simply ask the agent to provide you the list of clients and the list of sales in the past years.

These lists can tell you whether your time is worthy of making a deal with the specific real estate agent.

If you are selling your house, then ask the estate agent that what were the rates for the previous clients with the same house like yours? This will make you decide easily whether want that estate agent or not.

License:

This is the most important thing that you should keep in mind while hiring a real estate agents. The home seller should be a license holder under the rules of the state.

Choose a winner:

Always choose a person as your real estate agent, who is famous for the work and is efficient also. The fame in public of an estate agent attracts more clients than an ordinary one.

The estate agents, who are judged by their efficient skills in peers, should be your preference.

Specialized:

If you say that doctors are specialized, so are the real estate agents. The specialization of any real estate agent is mostly determined by the number of certifications linked to the agent. The real estate agents get certified on the basis of their vast experience and best skills in work.

To get the certifications takes much struggle than anything in a career. But it is the signification of hard work throughout life.

Experience counts:

The experience of a real estate agent really counts in the market. People are more attracted to the services of a person who has more experience in his field. A person holding the experience of 5 to 10 years as a real estate agent, with great success record, should be your first preference.

You can also keep an eye on the estate agents who are currently active in a particular area or locality of your interest. If the agents are doing well in that particular area, they can also be a better option for you.



You should always keep in mind that finding a real estate agent to sell your home is an easy job. But the difficult part is to find the right person to do the job in a right way. A home seller with all these qualities can be the best choice for you. So, make sure that the estate agent you’re hiring can provide you with facts so that you get your hands on the best deals for your house.

(http://www.fastexpert.com/choose-real-estate-agent-sell-house/).

THIS IS THE EXCLUSIVE BUILDING FOR CUSTOMERS ASTON MARTIN THAT ALFREDO COTO BUILDS IN MIAMI

The "well sale" was opened. 7 penthouses are offered. There will be entertainment areas, a two-floor gym, spinning room, boxing room, virtual golf, art gallery, two cinemas and a spa. In addition, you will have a special lift to take the car to the door of the apartment.

In February, Alfredo Coto and his son Germán announced an ambitious investment in a real estate development in Miami, the Aston Martin Residences, an exclusive building for owners of the English sports car brand that will be inaugurated in 2021.

And now, the family that owns one of the largest supermarket chains in Argentina, opened the sale of the luxurious apartments that are being built on Biscayne Boulevard 300, just where the Miami River meets the ocean.

To conquer the buyers, the Coto and Aston Martin produced two videos that show the lifestyle and plans of the spectacular 66-story sailboat complex.

The sale of "well" started with prices from $ 470,900.

The 66-story sailboat-shaped tower, designed by the American architectural company Revuelta and the Argentine Weddings Miani Anger, will have 391 apartments from 70 to 300 square meters.

Seven penthouses will be offered, with private pools and terraces.

In addition to entertainment areas, which occupy four levels of the tower, there will be a two-floor gym, spinning room, boxing room, virtual golf room, art gallery, two cinemas and a spa.

The Aston Martin theme building will follow the design trend of similar condominiums in Florida, such as Porsche Design, Bentley Residences and Armani Casa.

As reported, the Aston Martin Residences, will have a vehicle lift to take the cars to the door of the apartments.

It will also have a special hangar for private planes at the Miami Airport and on the ground floor there will be a boat dock.

At the end of 2016 the supermarket group Coto was chosen by the British Aston Martin, famous for being the traditional insignia of the James Bond films, to put its brand in the luxurious condominium that will develop in Miami.

This is the first real estate development that will bear the name of the car manufacturer, which will not be left alone to lend its brand but will put designers for the lobbies, the spa and the common areas.

The design team of Aston Martin, led by Marek Reichman, vice president and creative director, is responsible for the interior and common areas of the building, in which the key elements of the brand, such as carbon fiber and leather, will be employees at reception tables and doors.

Thus, the details of the finishes such as door knobs, leather finishes, reception desks and the color palettes of the shared environments will be a registered trademark.

At the beginning of the year, in an interview with Efe, Germán Coto said that they associated with Aston Martin, because they wanted "design to be what moves the spirit of the people who participate in this project".

The president of G & G added that beauty and quality are the main qualities present in this luxury tower.

The project developers already have apartment reservation deposits for US $ 100 million.

"After having manufactured over 80,000 cars throughout our history, we have now considered entering the real estate business for the first time," Simon Sproule, vice president of Aston Martin, a high-end brand created in the United Kingdom, said at the opening ceremony. United in 1913.

The creative director also stressed that when the Coto family proposed this project they were "immediately impressed" with the approach they put in the same values ​​that "our brand defends": quality and design.

"It's the building where James Bond would live," Germán joked.

(Source: iProfesional, "Video: this is the exclusive building for Aston Martin customers that Alfredo Coto builds in Miami", 11/28/2017.)

ASÍ ES EL EXCLUSIVO EDIFICIO PARA CLIENTES DE ASTON MARTIN QUE ALFREDO COTO CONSTRUYE EN MIAMI

Se abrió la "venta de pozo". Se ofrecen 7 penthouses. Habrá áreas de entretenimiento, un gimnasio de dos plantas, salón de spinning, sala de boxeo, de golf virtual, galería de arte, dos cines y un spa. Además, tendrá un ascensor especial para poder llevar el auto hasta la puerta del departamento.

En febrero, Alfredo Coto y su hijo Germán anunciaron una ambiciosa inversión en un emprendimiento inmobiliario en Miami, la Aston Martin Residences, un edificio exclusivo para propietarios de la marca de autos deportivos ingleses que será inaugurado en 2021.

Y ahora, la familia dueña de una de las mayores cadenas de supermercados de la Argentina, abrió la venta de los lujosos departamentos que se están construyendo en Biscayne Boulevard 300, justo donde el Río Miami se une con el océano.

Para conquistar a los compradores los Coto y Aston Martin produjeron dos videos donde muestran el estilo de vida y los planos del espectacular complejo de 66 pisos con forma de velero.

La venta de "pozo" arrancó con precios desde los 470.900 dólares.

La torre en forma de velero de 66 pisos, diseñada por la compañía arquitectónica estadounidense Revuelta y la argentina Bodas Miani Anger, contará con 391 departamentos de 70 a 300 metros cuadrados.

Se ofrecerán siete penthouses, con piscinas y terrazas privadas.

Además de áreas de entretenimiento, que ocupan cuatro niveles de la torre, habrá un gimnasio de dos plantas, salón de spinning, sala de boxeo, sala de golf virtual, galería de arte, dos cines y un spa.

El edificio temático de Aston Martin seguirá la tendencia de diseño de otros condominios similares en Florida, como el Porsche Design, el Bentley Residences y el Armani Casa.

Según informaron, las Aston Martin Residences, tendrán un ascensor de vehículos para poder llevar los autos hasta la puerta de los departamentos.

Además contará con un hangar especial para aviones privados en el Aeropuerto de Miami y en la planta baja habrá un muelle para embarcaciones.

A fines de 2016 el grupo supermercadista Coto fue el elegido por la británica Aston Martin, famosa por ser la tradicional insignia de las películas de James Bond, para poner su marca en el lujoso condominio que desarrollará en Miami.

Este es el primer desarrollo inmobiliario que llevará el nombre del fabricante de autos, que no se quedará solo en prestar su marca sino que pondrá diseñadores para los lobbies, el spa y las áreas comunes.

El equipo de diseño de Aston Martin, liderado por Marek Reichman, vicepresidente y director creativo, es el encargado del interior y las áreas comunes del edificio, en las que los elementos clave de la marca, como la fibra de carbono y el cuero, serán empleados en mesas de recepción y puertas.

Así, los detalles de las terminaciones como picaportes, terminaciones en cuero, escritorios de la recepción y las paletas de colores de los ambientes compartidos, serán una marca registrada.

A principio de año, en una entrevista con Efe, Germán Coto afirmó que se asociaron con Aston Martin, porque buscaban que "el diseño fuera lo que moviese el espíritu de la gente que participa en este proyecto".

El presidente de G&G agregó que la belleza y la calidad son las principales cualidades presentes en esta torre de lujo.

Los desarrolladores del proyecto ya tienen depósitos de reserva de apartamentos por u$s100 millones.

"Después de haber fabricado más de 80.000 automóviles a lo largo de nuestra historia, ahora hemos considerado entrar en el negocio inmobiliario por primera vez", mencionó en la ceremonia de inauguración Simon Sproule, vicepresidente de Aston Martin, marca de alta gama creada en Reino Unido en 1913.

El también director creativo resaltó que cuando la familia Coto propuso este proyecto se quedaron "inmediatamente impresionados" con el enfoque que pusieron en los mismos valores que "nuestra marca defiende": calidad y diseño.

"Es el edificio donde viviría James Bond”, bromeó Germán.

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LAS TORRES MÁS CARAS DE MIAMI

Los proyectos de ultra lujo tienen servicios cada vez más excéntricos, que van desde ascensores para autos hasta suites para invitados y chef a disposición de los propietarios; cuánto cuesta vivir en ellos.

Todo vale a la hora de sorprender a los compradores y los desarrolladores comienzan a replicar la fórmula de asociarse con marcas de otros sectores para diferenciarse e invitar a experiencias diferenciales.

Por caso, la torre Porsche en Miami es el debut en el rubro inmobiliario de la famosa marca de automóviles. Es la primera en el mundo con un ascensor para autos que permite a los dueños seguir luciendo su Porsche desde la sala de estar. La torre de concreto y cristal con forma circular diseñada tiene tres elevadores para autos. Cada uno puede subir hasta 60 pisos y luego depositarlo en el garaje privado del conductor, sin necesidad de bajar del vehículo. Una vez en su casa, algunas unidades ofrecen ver el auto desde la sala de estar, separada por un vidrio con el guardacoches. Además, el propietario tiene la privacidad para que nadie lo vea entrar o salir de su departamento, ni cruzarse en el lobby o el ascensor, lo cual hace que el edificio sea buscado por gente de muy alto perfil.

¿Y si el comprador no tiene un Porsche? No es problema, pero probablemente lo tenga, si pudo adquirir un departamento que va de los US$ 5,3 a los US$ 33 millones. Las unidades vienen con piletas en los balcones que, al encenderse, emiten una corriente contra la cual es posible nadar.

Los departamentos van desde los 442 m2 a 1300 m2. La más cara, se vende a US$ 16,5 millones: tiene cuatro dormitorios, seis baños y un toilette.

El proyecto Residences by Armani Casa, ubicado en Sunny Isles es el primer proyecto inmobiliario del diseñador en los Estados Unidos. Con 200 metros de alto, esta moderna torre de vidrio tiene la firma del famoso arquitecto argentino César Pelli, mientras que el paisajismo también estuvo a cargo de un multipremiado suizo, Enzo Enea. El edificio tiene 54 pisos que reúnen 308 exclusivas residencias sobre el océano.

Como no podía ser de otra manera, los interiores estuvieron a cargo de Giorgio Armani. La exagerada atención al detalle es una de sus características. Solamente la construcción del centro de ventas costó más de US$ 10 millones. Los baños tienen sector para ellas y ellos. El vestidor ofrece hasta 28 m2 de superficie, mucho más que una habitación regular. A la hora de hablar de precios, el rango oscila entre US$ 1,5 y US$ 5,5 millones. Los servicios del edificio incluyen paseador de perros, sala de cigarros, chef a disposición y hotelería con servicio de mucama.

El penthouse tiene seis dormitorios en los pisos 53 y 54 y se vende a US$ 15 millones. El comprador recibe dos pasajes en primera clase a Milán para tener una reunión privada con Giorgio Armani y permanecer dos noches en su hotel.

Por otra parte, 1000 Museum by Zaha Hadid, Downtown es una torre que combina el arte con la arquitectura. Su figura se diferencia del resto de los edificios ya que su esqueleto forma curvas que atraviesan su estructura de vidrio. El exoesqueleto, su armazón de acero y vidrio, en lugar de estar por dentro, como la columna vertebral humana, está por fuera. Sólo dos edificios en Miami tienen esa técnica de construcción. Será el único edificio residencial de la ciudad que contará con helipuerto privado. Las unidades van de US$ 5,5 millones a US$ 19 millones.

Chateau Group y Fortune International Group, líderes renombrados en desarrollos inmobiliarios, se unieron para construir en Sunny Isles, el Ritz Carlton Residences. La torre de 52 pisos tendrá 212 residencias rodeadas de espacios abiertos y múltiples balcones para maximizar las vistas del océano en toda la casa. Los cuatro pisos superiores incluyen unas enormes terrazas escalonadas, cocina, pileta y jardín privado. Cada unidad contará con un ascensor privado para un acceso directo y discreto. El proyecto incluye amenities como restaurantes, salas y bares exclusivos para los residentes y suites para invitados y familiares, entre otros. Los precios para un tres ambientes arrancan en US$ 2,5 millones. Los penthouses se vendieron en US$ 16,5 y US$ 21 millones.

Park Grove desarrollado por Terra Group y the Related Group está situado sobre la bahía en Conocut Grove. Son tres torres con 297 unidades, que también tendrán un restaurante de Michael Schwartz, reconocido chef en la Florida.

La arquitectura pertenece a Rem Koolhaas, considerado uno de los más importantes arquitectos y urbanistas de su generación, con obras en Copenhague, Nueva York, Dubai, Qatar, China, y Singapur, entre otros. El edificio es por completo de vidrio, lo cual otorga ventanales del piso al techo en todos sus ambientes. Los precios van de un millón a US$ 14 millones.

Elysee Miami en Edgewater es un edificio de lujo boutique. Tendrá 57 pisos con vista directa a la bahía de Biscayne albergará 100 residencias de lujo con unidades de tres a cinco habitaciones que miden entre 205 y 361 metros cuadrados, con valores de U$S 1,39 millones a más de U$S 10 millones. La delgada torre de cristal tiene una forma única de telescopio de tres niveles con solo dos unidades por piso, lo cual permite una vista de 180 grados. Una pileta de 22 metros de largo, gimnasio y estudio de yoga y un salón de belleza son algunas de sus instalaciones comunes. Todas las residencias tendrán muebles italianos de primera línea para las cocinas y los baños, así como dos terrazas frente al este y oeste con una vista de 180 grados. Miami Worldcenter es el segundo emprendimiento inmobiliario más grande de los Estados Unidos. Además de viviendas ofrece un sector comercial con calles interiores para peatones. Dentro del complejo, el Paramount Miami Worldcenter ofrecerá departamentos desde 110 m2 a 243 m2, con valores que van desde U$S 750.000 a U$S 1,4 millones. Uno de los elementos más atractivos es su Upper Deck de primera clase, que se estrenará como la plataforma de recreo más grande de los Estados Unidos.

(Fuente: La Nación, Por Lucila Marti Garro, “Las torres más caras de Miami”, 14/10/2017.

Foreign Investments in Real Estate Surge.

International home buyers are eager to invest in the United States and may be willing to pay top dollar for your property. Foreign investment in US residential real estate hit a new high this year, driven by an increase in sales dollar volume from Canadian buyers, according to a new survey by The National Association of Realtors. Foreign buyers and recent immigrants bought $153 billion of residential property, which represents a 49% jump from last year.

International buyers who live outside the United States invested more than$153 billion of residential property, which represents a 49% jump from last year. A recent survey reveals that China is still No. 1 in terms of sales dollar volume, but the overall boost in activity came from Canadian buyers. Transactions from Canadians this year more than doubled from last year, reaching $19 billion – a new high for Canada. Canadians are finding that US markets though expensive are actually more affordable than in their home country. Though home prices have been steadily rising, gains across Canada have been steeper, especially in Vancouver and Toronto.

Make your home or condo appealing to foreign buyers, you have to do a little more than hire the average real estate agent. Align yourself with a broker who has ties with foreign buyers. Ask brokers if they have the ability to place advertising in other countries and if they will have a website dedicated to the property with a virtual tour. Agents who specialize in working with foreign buyers normally list the property on websites that market homes for sale globally and nationally. Even if the property is listed only on Realtor.com, make sure there’s enough information and pictures on the listing to attract international buyers. Foreign buyers are looking for great pictures and videos of the property because most of the time they’re not here to physically see them. It is crucial to have your property listed for sale online with multiple photos and videos of the home and the neighborhood and or the complex. Prepare your home or condo for selling. First impressions count for everything. Pay attention to details, complete maintenance on your property, and declutter as much as possible.
There is a myth that foreign buyers will just come in with cash and pay more than what the property is worth, but that’s not true. They look for a bargain, like everyone else, and they look for properties that are easily rentable, in desirable areas, with high rates of return. If you’re after a quick sale, be prepared to get engaged and be proactive.

Existing-home sales rose in October to their strongest pace since earlier this summer, but supply shortages continued.

U.S. Home Sales Uptick 2.0 Percent in October According to the National Association of Realtors, existing-home sales in the U.S. increased in October 2017 to their strongest pace since earlier this summer, but continual supply shortages led to fewer closings on an annual basis for the second straight month.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 2.0 percent to a seasonally adjusted annual rate of 5.48 million in October from a downwardly revised 5.37 million in September. After last month's increase, sales are at their strongest pace since June (5.51 million), but still remain 0.9 percent below a year ago.
Lawrence Yun, NAR chief economist, says sales activity in October picked up for the second straight month, with increases in all four major regions. "Job growth in most of the country continues to carry on at a robust level and is starting to slowly push up wages, which is in turn giving households added assurance that now is a good time to buy a home," he said.
"While the housing market gained a little more momentum last month, sales are still below year ago levels because low inventory is limiting choices for prospective buyers and keeping price growth elevated."

Added Yun, "The residual effects on sales from Hurricanes Harvey and Irma are still seen in parts of Texas and Florida. However, sales should completely bounce back to their pre-storm levels by the end of the year, as demand for buying in these areas was very strong before the storms."

The median existing-home price for all housing types in October was $247,000, up 5.5 percent from October 2016 ($234,100). October's price increase marks the 68th straight month of year-over-year gains.

Total housing inventory at the end of October decreased 3.2 percent to 1.80 million existing homes available for sale, and is now 10.4 percent lower than a year ago (2.01 million) and has fallen year-over-year for 29 consecutive months. Unsold inventory is at a 3.9-month supply at the current sales pace, which is down from 4.4 months a year ago.

Properties typically stayed on the market for 34 days in October, which is unchanged from last month and down from 41 days a year ago. Forty-seven percent of homes sold in October were on the market for less than a month.

Realtor.com's Market Hotness Index, measuring time on the market data and listings views per property, revealed that the hottest metro areas in October were San Jose-Sunnyvale-Santa Clara, Calif.; Vallejo-Fairfield, Calif.; San Francisco-Oakland-Hayward, Calif.; San Diego-Carlsbad, Calif.; and Boston-Cambridge-Newton, Mass.

"Listings - especially those in the affordable price range - continue to go under contract typically a week faster than a year ago, and even quicker in many areas where healthy job markets are driving sustained demand for buying," said Yun. "With the seasonal decline in inventory beginning to occur in most markets, prospective buyers will likely continue to see competitive conditions through the winter."

According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 3.90 percent in October (matches highest rate since June) from 3.81 percent in September. The average commitment rate for all of 2016 was 3.65 percent.

First-time buyers were 32 percent of sales in October, which is up from 29 percent in September but down from 33 percent a year ago. NAR's 2017 Profile of Home Buyers and Sellers released last month - revealed that the annual share of first-time buyers was 34 percent.

NAR President Elizabeth Mendenhall says the pending tax reform legislation in both the House and Senate is a direct attack on homeowners and homeownership, with the result being a tax increase on millions of middle-class homeowners in both large and small communities throughout the U.S.

"Making changes to the mortgage interest deduction, eliminating or capping the deduction for state and local taxes and modifying the rules on capital gains exemptions poses serious harm to millions of homeowners and future buyers," said Mendenhall. "With first-time buyers struggling to reach the market, Congress should not be creating disincentives to buy and sell a home. Furthermore, adding $1.5 trillion to the national debt will raise future borrowing costs for our children and grandchildren."

All-cash sales were 20 percent of transactions in October, unchanged from September and down from 22 percent a year ago. Individual investors, who account for many cash sales, purchased 13 percent of homes in October, down from 15 percent last month and unchanged from a year ago.

Distressed sales - foreclosures and short sales - were 4 percent of sales in October, unchanged from last month and down from 5 percent year ago. Three percent of October sales were foreclosures and 1 percent were short sales.

Single-family and Condo/Co-op Sales

Single-family home sales climbed 2.1 percent to a seasonally adjusted annual rate of 4.87 million in October from 4.77 million in September, but are still 1.0 percent under the 4.92 million pace a year ago. The median existing single-family home price was $248,300 in October, up 5.4 percent from October 2016.

Existing condominium and co-op sales increased 1.7 percent to a seasonally adjusted annual rate of 610,000 units in October (unchanged from a year ago). The median existing condo price was $236,800 in October, which is 6.9 percent above a year ago.

Regional Breakdown
October existing-home sales in the Northeast rose 4.2 percent to an annual rate of 740,000, (unchanged from a year ago). The median price in the Northeast was $272,800, which is 6.6 percent above October 2016.
In the Midwest, existing-home sales inched forward 0.8 percent to an annual rate of 1.31 million in October, but are still 1.5 percent below a year ago. The median price in the Midwest was $194,700, up 7.1 percent from a year ago.
Existing-home sales in the South increased 1.9 percent to an annual rate of 2.16 million in October, but are still 1.8 percent lower than a year ago. The median price in the South was $214,900, up 4.6 percent from a year ago.
Existing-home sales in the West grew 2.4 percent to an annual rate of 1.27 million in October, and are now 0.8 percent above a year ago. The median price in the West was $375,100, up 7.8 percent from October 2016.

(https://www.nar.realtor/newsroom/existing-home-sales-grow-20-percen...)

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Miami-Dade County Single Family Housing Market Report through Third Quarter (Q3) 2017.

The Housing Trends eNewsletter contains the latest information from the National Association of real estate professionals, Florida Realtors Association and the Miami Realtors Association.

Miami-Dade County Single Family Housing Market Report through Third Quarter (Q3) ending in September 2017.

In the Miami-Dade County area, Inventory of Single Family Homes Active Listings, of Non-Distressed properties through the month of September 2017: 5,769

The Dollar Volume of Sales in Miami-Dade Cunty (Non-Distressed properties) through September 2017: 307,404,675

The Cash Sales of Single Family Homes, Non distressed through September 2017: 139

Cash Sales As a Percentage of Closed Sales (September 2017): 22.6 %.

Median Days between Orig. List Date and Contract Date for Closed Sales through
September 2017: 41

Median Days between Orig. List Date and Closing Date for Closed Sales September 2017: 91 (DOM).

New Single Family Home Listings in the Third quarter: 868

If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report:
http://Lazaro.housingtrendsenewsletter.com/homeworth.cfm

Please click on this link to view the Housing Trends November 2017 Newsletter:
http://Lazaro.housingtrendsenewsletter.com

The Housing Trends eNewsletter contains the latest information from the National Association of real estate professional, the U.S. Census Bureau, Realtor.org reports and other sources.

Housing Trends eNewsletter is also filled with local and national real estate sales and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, housing market video reports, blogs, real estate glossary, maps, mortgage rates and calculators, consumer articles, community reports that map shopping, schools, recreation and more.

Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your real estate professional in the future.

Sincerely yours,

Lazaro Lopez, PA
Fortune International Realty
1390 Brickell Avenue Suite 104 Miami FL 33133
305-400-6393 | 786-525-9430
Lazaro@fir.com

Home Builder Confidence Rises to 8 Month High in November

In the U.S., home builder confidence rose two points to a level of 70 in November 2017 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This was the highest report since March, and the second highest on record since July 2005.

"November's builder confidence reading is close to a post-recession high -- a strong indicator that the housing market continues to grow steadily," said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. "However, our members still face supply-side constraints, such as lot and labor shortages and ongoing building material price increases."

"Demand for housing is increasing at a consistent pace, driven by job and economic growth, rising homeownership rates and limited housing inventory," said NAHB Chief Economist Robert Dietz. "With these economic fundamentals in place, we should see continued upward movement of the single-family housing market as we close out 2017."

Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as "good," "fair" or "poor." The survey also asks builders to rate traffic of prospective buyers as "high to very high," "average" or "low to very low." Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.

Two out of the three HMI components registered gains in November. The component gauging current sales conditions rose two points to 77 and the index measuring buyer traffic increased two points to 50. Meanwhile, the index charting sales expectations in the next six months dropped a single point to 77.

Looking at the three-month moving averages for regional HMI scores, the Northeast jumped five points to 54 and the South rose one point to 69. Both the West and Midwest remained unchanged at 77 and 63, respectively.

A wide open lane for commercial brokerage IPOs

A wide open lane for commercial brokerage IPOs: Is Newmark’s latest IPO news just the tip of the iceberg for the firm and its biggest rivals?

How to Find Your Purpose - Grant Cardone

An Escape to Miami, Beautifully and Resilient!

It wasn’t the best time to visit Vizcaya, the former estate of turn-of-the-century industrialist James Deering, on Miami’s Biscayne Bay. Less than a month had passed since Hurricane Irma made landfall in South Florida. The seawater that inundated the Mediterranean Revival-style home’s lush gardens had left them ragged and browned. A battered, black jet ski sat beached, blocking a path. The cafe and the gift shop, both in the mansion’s “basement,” had taken on about 5 feet of water and were out of commission. The rococo ground-floor dining room was dim and muggy, despite the best efforts of an industrial dehumidifier humming in the corner. Some of the mansion’s bay-facing windows had burst open at the storm’s peak, a security guard told me, briefly letting hurricane-force wind and rain pelt the ornate décor.“It all looks pretty bad,” the guard told me, “but it could have been much worse. We were actually very lucky.”

It’s a peculiar notion of luck, but visitors and Miamians alike need only look to Houston, to Puerto Rico or down to the Florida Keys to understand how right he was. “This storm put the fear of God in me,” said architect Richard Heisenbottle, a resident of 41 years, who evacuated his family when Irma was predicted to hit the region as a Category 5 storm with 185 mph winds. Mr. Heisenbottle has overseen restoration work of many of South Florida’s most significant historical buildings, including Vizcaya. ”Despite the fact that we’re much more prepared than ever before,” he added, “and that we build buildings better than anywhere else in Florida, I believe that if a cat 5 windstorm hits us, all bets are off.”


Looking at South Florida through the proverbial eye of a hurricane, I learned, increases one’s appreciation of the area’s unique beauty, fragility and resilience. The day after going to Vizcaya, I paid a visit to the HistoryMiami Museum, where an exhibit marking the 25th anniversary of Hurricane Andrew—the last Category 5 storm to hit the area—starkly recalled a time when South Florida wasn’t so lucky.

Along with artifacts and a welter of screens playing contemporaneous news coverage, there was a replica of a small living room, lit by a single lamp and with the soundtrack of a storm piped in; you can sit on the sofa and have a shelter-in-place experience. Do so at the “beginning” of the storm, and the wind and rain sounds seem tame enough—my mother and I joked that we’d just come from worse weather outside. But as we toured the exhibit, the sounds from the room intensified. We returned and sat, listening to the crescendo of howling winds, groaning rafters and clattering shutters. Having grown up in Florida and endured Andrew, I relived the dread—will the roof hold? What will it look like outside when the winds die down?

After Irma landed her glancing blow on the region, I found myself searching Twitter and Instagram for reports on the place I worried about more than any other—Stiltsville. Its pastel-hued houses are the remnants of an offshore colony on stilts that developed on the shoals of Biscayne Bay, starting, most say, with a bait shack run in the 1930s by one “Crawfish” Eddie Walker. By 1959, more than two dozen buildings were perched above the flats. As Carl Hiaasen described it in his novel “Skin Tight,” “rich owners used them for weekend parties, and their kids got drunk on them in the summer. The rest of the time they served as fancy split-level toilets for seagulls and cormorants.” In 1965, Hurricane Betsy took nearly half of Stiltsville with her. Then Andrew took half of what remained.

The HistoryMiami Museum offers periodic boat tours of Stiltsville. The tour I took, led by historian Dr. Paul George, left from the marina at Bayside Marketplace in downtown Miami. With about 50 people—the majority locals—I boarded one of the motor yachts typically used for sunset cocktail cruises for the half-hour trip out to Stiltsville. As leaping porpoises trailed the boat, Dr. George, in a ball cap and Ray Bans, related the history of the area from Ponce De Leon to Richard Nixon and Bebe Rebozo.


Every home in Stiltsville had a colorful story: “This house here is where Teddy Kennedy had his bachelor party…” Many were actually private clubs, like the Bikini Club, the Calvert Club and the Quarterdeck Club, all long gone, though the Miami Springs Power Boat Club maintains an outpost. Irma rattled but didn’t wreck Stiltsville. Because these houses are now encompassed by Biscayne National Park, however, they can never be replaced. Each storm poses a mortal threat.


Another Stiltsville that Irma toyed with—the Stiltsville Fish Bar—is chefs Jeff McInnis and Janine Booth’s newly opened restaurant in Miami Beach’s Sunset Harbor neighborhood, which had its initial opening delayed by the storm. It was hardly the only restaurant the storm touched. For chef Niven Patel—who grows many of the ingredients for the Indian food at two locations of his restaurant Ghee Indian Kitchen—Irma was “a blessing in disguise,” taking down 15 giant nonindigenous ornamental trees on his farm which will now be replaced with coconut palms.

Perhaps the only good thing to say about hurricanes is that they seem to take the invasive species first, as further evidenced by Bill Baggs Cape Florida State Park, at the tip of Key Biscayne, one of the few places arguably made better by Hurricane Andrew. The forests of native mangrove and gumbo limbo trees through which the trails wend weren’t always there; much of the 442 acres that make up the park had been clear-cut for development in the 1950s and subsequently colonized by invasive Australian pines. When Hurricane Andrew leveled the landscape once again, the state took the opportunity to restore native flora. (Some of the fauna is still invasive, though—be on the lookout for giant iguanas.)

At the park’s south end stands the Cape Florida Lighthouse, and the point from which in 1821 some 300 escaped slaves bartered for passage to Andros Island in the Bahamas. The park also affords a distant land-based view of the houses of Stiltsville.

Driving back to the mainland, I stopped at the Miami Marine Stadium on Virginia Key. It’s a wonder of tropical brutalism, a poured concrete grandstand that juts out over a basin, where speedboats raced like chariots, and concerts were held, with a floating barge serving as a stage. (Jimmy Buffett’s 1986 concert video was filmed here, with fans in the stands, boats, inner tubes and the water itself.)


Though the stadium has been closed to the public since Hurricane Andrew battered it, street artists have infiltrated and turned the seats, the massive trusses, and even the 320-feet-wide cantilevered roof into a concrete canvas. The city recently announced a long overdue plan to rehabilitate the stadium, overseen by Mr. Heisenbottle. For now, the best ways to see the grandstands without trespassing are from a boat tour with HistoryMiami (the next one—“Icons of the Bay: Stiltsville, Cape Florida Lighthouse & the Miami Marine Stadium”—runs Nov. 26), or from temporary docks erected during the Miami International Boat Show in February.

Now that hurricane season has given way to tourist season, and Vizcaya is getting back to its old self, it’s easy to act like nothing has changed. The biggest change Irma wrought is pervasive but invisible; a sense that the next truly devastating storm after this one is not a question of “if” but “when.” But for the moment I did my best to take the advice of a temporary installation piece by the artist Amanda Keeley in the Vizcaya’s logia. Words crafted in yellow neon quote the Roman poet Horace: “Put serious things aside” and “Take the gifts of this hour.”

THE LOWDOWN // Rediscovering Miami’s Natural Side
Staying There Only a helicopter offers better views of Miami at night than Sugar, the 40th-floor rooftop bar of the East hotel in Brickell, just south of downtown. The hotel’s 352 rooms, all with balconies and floor-to-ceiling windows, are sleekly styled with similarly compelling views (from $499 a night, east-miami.com). If you find Miami unthinkable without the beach, consider the Miami Beach Edition, set on 3.5 oceanfront acres with 294 rooms, including 28 bungalows, and an entertainment complex that includes an ice-skating rink (from $296 a night, editionhotels.com/miami-beach).

Eating There South Florida’s tropical climate is ideal for growing much of the Indian produce used at both Ghee Indian Kitchens, like taro leaf, plucked from chef Niven Patel’s farm (gheemiami.com). Locally caught fish, displayed in two ice-filled claw foot tubs by the bar, takes pride of place at the Stiltsville Fish Bar (1787 Purdy Avenue, Miami Beach,stiltsvillefishbar.com).

(https://www.wsj.com/articles/an-escape-to-miami-beautifully-resilient-after-hurricane-irma-1510671517)

10 Years After the Crash, the Boom Times Are Back in Real Estate—but Way Different

As anniversaries go, it's a nerve-racking but inescapable one: It's been 10 long years since the widespread real estate crash that precipitated the Great Recession, and all the misery that followed in its wake. So it seems like the perfect time to take a giant step back, peruse and analyze all of the data, and assess what has really happened to the American housing market in the decade since.

So where are we, really?

Ever-steeper home prices: check. Buyers clamoring to get into those precious homes: check. Real estate newbies scooping up homes to renovate quickly and sell for a profit (i.e., flip): check. On first or second glance, things are looking awfully similar to the real estate boom that preceded the epic bust. But wait: There's no need to start stuffing your life savings under your mattress for safekeeping just yet. If you look beneath the surface, there are key differences between then and now, a realtor.com® analysis of housing and economic data shows.

“As we compare today’s market dynamics to those of a decade ago, it’s important to remember rising prices didn’t cause the housing crash,” said Danielle Hale, chief economist for realtor.com®. “It was rising prices stoked by subprime and low-documentation mortgages, as well as people looking for short-term gains—versus today’s truer market vitality—that created the environment for the crash.”

By contrast, today’s housing market is characterized by a significant mismatch between significant job and household growth (the factors that spur people to buy homes) and much tighter lending standards and historically low for-sale inventory (the factors that make it difficult for people to buy new homes). The result: extremely high home prices and a lot of frustrated buyers. (Did you hear about the Northern California home that sold for $782,000 over asking?)

How high, you ask?

Well, the U.S. median home sales price in 2016 was $236,000, 2% higher than in 2006. In fact, 31 of the 50 largest U.S. metros are back to pre-recession price levels. Austin, TX, has seen the largest price growth in the past decade: 63%. It’s followed by Denver, at 54%, and Dallas, at 52%. Nationwide, realtor.com data show that listing prices have been up by double digits for the majority of 2017.

Median home sales prices since 2006
Median home sales prices since 2006realtor.com
Financial regulations reshaped the mortgage scene

The biggest change on the housing scene over the past decade is that lending standards are the tightest they've been in almost 20 years. The Dodd-Frank Act, which was passed to tamp down the risky lending that led to the bubble and its collapse, requires loan originators to show proof that a borrower can repay the loan. As a result, the median 2017 home loan FICO score was 734, significantly up from 700 in 2006. The low end of the range has pulled up as well. The bottom 10% of borrowers have an average FICO of 649 in 2017, up from 602 in 2006.

“Lending standards are critical to the health of the market,” added Hale. “Unlike today, the boom’s under-regulated lending environment allowed borrowing beyond repayable amounts and atypical mortgage products, which pushed up home prices without the backing of income and equity.”

Flipping is hot again, but now it's under control

For just about as long as we've had a housing market in this country, folks believed that prices would never go down and that a home was always a good investment. This inspired a lot of flippers and developers to get into the game (well, HGTV may have also played a part).

Unfortunately, the housing crash exposed this fallacy big-time.

In 2006, the share of flipped homes reached 8.6% of all sales, exceeding 20% in some metros such as Washington, DC, and Chicago. Some of those flippers took out multiple loans to afford their properties. With today’s tight lending environment limiting borrowing power, however, flipping accounted for a more reasonable 5% of sales in 2016.

Similarly, builders chasing profits as prices rose ended up building more than what the market was demanding. In 2006, there were 1.4 single-family housing starts for every household formed, well above the healthy level of one per household.

But while stricter lending standards have kept flipping and overbuilding in check, they are contributing to severely constrained construction levels, which contribute to the housing inventory shortage—and that's keeping prices elevated. Today’s market is well below normal construction levels with only 0.7 single-family household starts per household formation.

What's driving today's housing market

In October, unemployment hit a 17-year low, at a rate of 4.1%. In 30 of the 50 largest U.S. metros, unemployment is less than half of 2010 levels. Employment is particularly robust among millennials, who are just starting their careers: In September, employment reached 79% in the 25–34 age group, back up to 2006 levels and 5% higher than 2010.

But at the same time, there are 600,000 fewer total housing starts and nearly 700,000 fewer single-family housing starts.

Single-family home sales since 2006
Single-family home sales since 2006realtor.com
"The healthy economy is creating more jobs and households, but not giving these people enough places to live," Hale said. "Rapid price increases will not last forever. We expect a gradual tapering as buyers are priced out of the market—not a market correction, but an easing of demand and price growth as renting or adding roommates becomes a more affordable alternative.”

Millennials made up 52% of home shoppers last spring, and with the largest cohort of millennials expected to turn 30 in 2020, their demand for homes is only expected to increase.

Metros where home prices have rebounded the most

In Austin, local real estate agent Jason Bernknopf has been in the business for about 15 years, currently with AustinRealEstate.com. In his view, Austin wasn't hurt much by the housing market collapse because home prices were already low. Plus, Austin has a diverse economy with plenty of stable jobs in government (it is the state capital, after all) and tech companies such as locally based Dell and Samsung, IBM, and Apple.

Price appreciation since 2006
Price appreciation since 2006realtor.com
The city has developed a lot in the past 10 to 15 years, Bernknopf says, as it drew people from far more expensive areas such as California.

“We didn’t have a downtown living area in the early 2000s," he says. "Now there’s huge apartment high-rises as well as condo high-rises, and more areas for people to shop and eat in the heart of town.”

There's also a building boom in the suburbs, where young families are moving in search of more space and better schools.

Denver, another recent tech hub that was relatively sleepy before the crash, has seen a similar transformation since the recession, says Jeff Plous, an associate real estate broker at One Realty in Denver.

In 2008, prices slowed, but there were no crazy drops, he says.

“The suburbs were hit really hard," Plous says. "But the city itself wasn’t that bad. It took longer to sell, but people were still buying.”

And then things really turned around.

"Bidding wars went from a sometimes to an always in 2013-14," Plous says. "You got out of bed, and anything you put on the market was gone in 24 to 48 hours.”

In August, he sold a $400,000 home for $40,000 over asking. The four-bed home in a good neighborhood had netted 12 offers.

“I don’t necessarily believe we’re in a bubble. We just have so many people who want to move here. Our inventory is so far below where it needs to be.”

A slower recovery for some

Time for a reality check: Not every market is booming 10 years after the big crash.

Three major housing markets—Las Vegas; Tucson, AZ; and Riverside, CA—remained more than 20% below 2006 price levels at the end of 2016, at 25%, 22%, and 22%, respectively.

"The recession here in Las Vegas was deeper and longer than nationally," says Stephen Miller, director of the Center for Business and Economic Research at the University of Nevada, Las Vegas.

Miller points out that after the crash, about 70% of Nevada's home mortgages were underwater. "If you’re hit harder, it takes you longer to get back up in the ring.”

The center's research shows that before the recession, the Las Vegas population was growing about 4% annually. Now it's growing at about 2% annually, a growth track that still portends well for the future.

In Tucson, real estate broker John Mijac at Long Realty Co. saw a lot of excitement, speculation, and inflated prices in the market before the crash.

The area was hit particularly hard. Many Tucson-area investors lost homes to foreclosures and short sales.

“For quite a while, that was the primary movement in our market," he says. "Now that’s gone away.” He's starting to see more building come back, along with more home flippers. Again.

Demand and prices are also back for lower-priced homes, but homes above $200,000 haven't recovered yet. Sellers don't want to lose money on the sale of these properties, so they're holding on. "We’re getting close but we’re not quite there.”

Clare Trapasso contributed to this report.

3 Ways to Hit Your End of Year Target - Young Hustlers #10X #RealDeal #GrantCardone

Want to Get the Most Money for Your Home or Condo?

Owning a home or investment property and making mortgage payments is like putting money in the bank. For most homeowners, their house is their largest asset—which means there’s a lot of money at stake when it comes time to sell. Every owner will want to get as much money back as possible from perhaps the biggest investment. In order to do so, here are some tips when you put your home on the market.

Hire a Real estate Agent. Hire a full time, professional real estate agent to sell your home, hiring one can help you sell your home for the best price, in the least amount of time, which will put more money your pocket. A good listing agent can assist you with pricing your home, marketing it, negotiating with buyers, and guiding you through the closing process. That's a lot of responsibility. Your agent will filter all those phone calls that lead to nowhere from folks that are not serious about buying and the agent can try to induce serious buyers to write an offer immediately.

Price it right from the outset. Overpricing a home in today's fast-paced environment, will put you at risk of your home sitting on the market, which can make it more difficult to sell. If your house is still for sale after a couple of month, buyers are going to assume something’s wrong with it. Today’s buyers are savvy, they can do their own research and they know if a house is overpriced. So list it right at market price, which your agent will help you determine. If anything, listing it a bit below market price could also work in your favor by sparking a bidding war which could drive the price up higher than you'd ever hoped.

Once you have an offer in hand, you’re probably scanning for one thing: the price. The offers on your home should fall into a price range, but don’t rely on price alone. Not only consider the Offer Price, but other items such as Closing assistance, Closing date, Buyer financing, and contingencies. Some offers may seem great on the surface, but significantly less so once you dig in. For instance: Is the buyer asking for closing assistance? If you agree, any assistance you give will lower your bottom line, so factor this amount into the asking price. The buyer's time frame to close may not seem like a big deal on the surface, but it can actually matter a lot, especially if you give the buyer a long leash. If the deal falls through, you’ll have to put the house back on the market and wait for more offers. Make sure the buyer has financing. Make sure you verifying the buyer’s financing and how much the buyer will put toward the down payment and earnest money deposit. The last thing you want is to accept an offer, only to find out afterward that the buyer can't come up with the necessary cash to close.

You always have the option to return the buyer’s offer with a counteroffer of your own. You should always counter if the price is not what you are looking for, or if you can’t support the amount of closing cost help they are looking for, etc. But if you do, keep it reasonable. If your home is in a popular area, have an advantage, the buyer may not accept your counter outright, but always wait for multiple offers especially in areas of low inventory. To help you decide, ask your agent to call the buyer's agent and hash it out it with them. Get some insight into the buyer's state of mind, and whether he can budge.

#RealEstate #Realtor #Realty #Broker #ForSale #NewHome #HouseHunting #MillionDollarListing #HomeSale #HomesForSale #Property #Properties #Investment #Home #Housing #Listing #MiamiRealEstate #Luxuryhomes #10X #RealDeal #HomeEquity #CapitalGains

Colombia Tops Miami Real Estate Searches for Seventh Consecutive Month!

Colombia Tops Miami Real Estate Searches for Seventh Consecutive Month

Colombian consumers have posted the most global Miami real estate searches for seven consecutive months, according to a new report by the MIAMI Association of REALTORS® (MIAMI). South Florida, a top destination for international home buyers, finished as the second-most searched U.S. market by Realtor.com international consumers in September 2017.

MIAMI — Colombian consumers have posted the most global Miami real estate searches for seven consecutive months, according to a new report by the MIAMI Association of REALTORS® (MIAMI). South Florida, a top destination for international home buyers, finished as the second-most searched U.S. market by Realtor.com international consumers in September 2017.

Colombia registered 11.4 percent of all international searches on MIAMI’s portal, www.MiamiRealtors.com, in September 2017. Colombia has led the MIAMI property search rankings for seven consecutive months and 17 of the last 22 months.

“Miami real estate continues to be a top destination for consumers in Latin America but all over the world,” said Coral Gables Realtor Christopher Zoller, the 2017 MIAMI chairman of the board. “Canada, Ukraine, Spain, Italy, India and the Philippines rank among the top-10 foreign countries searching for Miami real estate.”

Colombia Tops Miami Real Estate Searches for Seventh Consecutive Month
Top-10 countries visiting MiamiRealtors.com in September 2017:
Country, Share of International Searches

Colombia, 11.4%
Canada, 10.4%
Ukraine, 5.5%
Venezuela, 5.2%
Spain, 4.7%
Brazil, 4.3%
Italy, 4.3%
India, 4.3%
Argentina, 3.8%
Philippines, 3.0%

Colombia: A Top Market for South Florida Real Estate
Colombian home buyers tied with Brazil in making the third-most international purchases in South Florida, according to the 2016 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. Colombia had a 10 percent share of all international purchases in South Florida. Venezuela (15 percent) and Argentina (11 percent) finished first and second, respectively.

MIAMI again promoted its members, South Florida’s lifestyle and real estate market at Colombia’s largest property showcase, El XII Gran Salón Inmobiliario – Feria Internacional, on Aug. 24-27, 2017 in Bogotá, Colombia. MIAMI made a South Florida market presentation at the 12th annual expo, which attracted 30,000 visitors and 200 exhibitors.

Top-10 International Cities Visiting MiamiRealtors.com in September 2017

Ontario, Canada
Bogotá, Colombia
Kyiv City, Ukraine
Capital District, Venezuela
Buenos Aires, Argentina
Sao Paolo, Brazil
Antioquia, Colombia
Quebec, Canada
Madrid, Spain
Milan

South Florida is Second-Most Searched U.S. Market by International Clients
Miami-Fort Lauderdale-West Palm Beach is the second-most searched U.S. market by international consumers, according to Realtor.com September 2017 data. South Florida has ranked among the top-two U.S. markets for global demand for years.

Top-10 U.S. markets for international real estate demand: September 2017

Los Angeles-Long Beach-Anaheim, CA
Miami-Fort Lauderdale-West Palm Beach
Bellingham, WA
New York-Newark-Jersey City, NY-NJ-PA
Orlando-Kissimmee-Sanford, FL
Urban Honolulu, HI
Tampa-St. Petersburg-Clearwater, FL
Kahului-Wailuku-Lahaina, HI
Phoenix-Mesa-Scottsdale, AZ
Las Vegas-Henderson-Paradise, NV

Top-10 countries driving international demand in South Florida: September 2017

Canada
Brazil
Argentina
United Kingdom
Colombia
Germany
France
Spain
Italy
Mexico

(http://www.miamirealtors.com/news/news/releases/2017/11/13/colombia-tops-miami-real-estate-searches-for-seventh-consecutive-month).


#RealEstate #Realtor #Realty #Broker #ForSale #NewHome #HouseHunting #MillionDollarListing #HomeSale #HomesForSale #Property #Properties #Investment #Home #Housing #Listing #MiamiRealEstate #Luxuryhomes #10X #RealDeal #Colombia

Real Estate Investing Made Simple Live at 12PM EST - Grant Cardone

Foreigners are getting serious about "Buying American" real estate.

The National Association of Realtors released a report Tuesday that said foreign buyers and recent immigrants spent an estimated $153 billion on American properties in the year ending March 2017. That was a 49% increase over the previous year and the highest level since record-keeping began in 2009.

The purchases accounted for 10% of the total value of existing home sales in the U.S. The report did not include new homes.
Powered by SmartAsset.com
The breakdown of sales between foreigners and recent immigrants was about 50:50.

Blame Canada

America's neighbors to the north were one big factor behind the surge.
Canadian real estate investors nearly doubled their purchases of American homes over the period because of the relative affordability of properties in the States. Many Canadians have been squeezed out of property markets in cities like Toronto and Vancouver that have experienced rapid price gains.
Canadians were the second biggest foreign purchasers of homes after the Chinese. Buyers from China shelled out nearly $32 billion over the period, while Canadians spent $19 billion.
Related: London's economy is starting to 'wobble'
Trump turmoil?
Foreign buyers had to brush off U.S. political turmoil in order to make their purchases.
"The political and economic uncertainty both here and abroad did not deter foreigners from exponentially ramping up their purchases of U.S. property over the past year," said Lawrence Yun, chief economist at the National Association of Realtors.
"While the strengthening of the U.S. dollar in relation to other currencies and steadfast home-price growth made buying a home more expensive in many areas, foreigners increasingly acted on their beliefs that the U.S. is a safe and secure place to live, work and invest," he said.

Location, location, location
Nearly half of all foreign sales were in three states: Florida, California and Texas.
Canadians gravitated to Florida. Chinese buyers focused on California. And Texas was the preferred state for Mexican buyers.
New Jersey and Arizona were the fourth and fifth most popular states.
Related: Yes, student debt is delaying homeownership
The report estimated foreign buyers typically paid just over $302,000 per property, up 9% from the previous year.
About 10% of foreign buyers paid over $1 million.
(http://money.cnn.com/2017/07/18/real_estate/real-estate-property-fo...).


#RealEstate #Realtor #Realty #Broker #ForSale #NewHome #HouseHunting #MillionDollarListing #HomeSale #HomesForSale #Property #Properties #Investment #Home #Housing #Listing #MiamiRealEstate #Luxuryhomes #10X #RealDeal

Real Estate 101: Your Buyer Checklist

Purchasing real estate may be overwhelming at first, considering all the things you need to study and learn to ensure that you make the right investment. But if you are equipped with the right tools and knowledge, it can save you from making seriously costly mistakes. For buyers looking to purchase a home, whether it’s your first, second or third, knowledge will be your best friend. And with some perseverance, buying your ideal property will be easier than you think.

To make it simple for you, we’ve created a buyer’s checklist to guide you on this endeavor.
First, think about what it is you’re looking for in real estate. Separate your wants from your needs. Crucial factors for good real estate include location, size, style, and occupants. If you are still single, you can look at lofts, condominiums, and studios. If you are planning to have a family, you can look at homes and townhouses of different sizes.

As real estate involves money, you will also need to consider is how much you can afford. When assessing your financial capacity to purchase real estate, it’s recommended that you analyze your debt (if any), monthly income, and credit status. You should also inquire about various down payment plans that will allow you to buy property but still be able to live a comfortable life.

Real estate is primarily about location. An ideal location for others may not be an ideal location for you. So when deciding on buying a home, check your lifestyle, personal preferences, and the prospective home’s distance from your work. Meanwhile, location’s security is also a must-think. The internet is a good place to research about local crime rates, safety, commuting options, and traffic in the neighborhood of your choice. Other factors you should consider in a location include the proximity of a hospital or clinic, school, and other local recreational amenities such as parks, movie theaters, restaurants, and shops.

The next step is to choose a type of mortgage and obtain pre-approval. Before you choose a mortgage broker, it’s crucial to do your homework and shop around before deciding. Brokers offer a range of interest rates, and it’s best to go with one that is well-suited to your needs as well as financial capabilities. It is highly recommended you deal with a mortgage broker when deciding on this aspect.
Work with highly recommended realtors, and if you are new to real estate, asking for referrals especially in the neighborhood of your choice will be helpful. Good realtors will take the stress out of buying real estate as they can help you find property that suits your individual preferences and will also help you with payment options.

Finally, avoid the mistake of purchasing right away. Here’s another often overlooked tip: narrow down your options to five, visit them all to get a feel for the whole property. Many buyers experience having “cold feet” when purchasing a home because they have not looked at enough options before deciding. So remember, even if you are decided on a property, you should still try to negotiate with your broker to increase your chances of getting a good deal.

These are some of the most basic points you should consider when buying real estate. Remember that going into the industry without this checklist in mind may be a pricey mistake. Why risk that when finding your dream home can be ease-free?

(http://www.globalrealtynews.com/real-estate-101-your-buyer-checklist/)

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Should You Invest In Rental Real Estate?

Are you considering investing directly in rental real estate? With many people increasingly concerned about both stock and bond market valuations, you’re not alone. First, let’s take a look at some of the benefits of becoming a landlord:

Income: With stocks and bonds both yielding about 2%, one of the main benefits of real estate is the ability to generate significant income without having to sell your investment. It’s possible to generate high single to low double digit returns on your cash even with a mortgage.

Inflation protection: Not only can real estate provide good income, it’s income that naturally keeps pace with inflation. Inflation can also increase the value of real estate and reduce the real burden of mortgage debt over time. For these reasons, it can be a great way to hedge against the possibility of rising inflation, which generally hurts both stocks and bonds.

Leverage: Historically, real estate appreciation plus rental income has underperformed stock appreciation plus dividend income. What gives real estate an advantage is the ability to benefit from the leverage of purchasing it with borrowed money at relatively low interest rates. For example, if you put down 20% on a $100k property and it appreciates 3%, you actually earn a 15% return ($3k of appreciation divided by the $20k you put down). Of course, you can buy stocks on margin but margin rates are higher and are not tax deductible. You could also be forced to sell your stocks while they’re low to satisfy a margin call.

Tax advantages: Real estate also comes with a lot of tax advantages. First, you can deduct costs such as the mortgage interest, property taxes, and depreciation from your taxes and even use excess “losses” to reduce your other taxes. If you sell a property, you can defer the capital gains tax by reinvesting the proceeds in another one. When you pass away, your heirs can inherit the property and sell it without having to pay any tax on all the appreciation during your lifetime.

Control: You can add additional value to real estate by purchasing a property you believe will appreciate faster than the overall market (the real estate market is much less efficient than the stock market so there are more opportunities to profit from superior knowledge), making improvements, and managing it yourself.

However, real estate is not for everyone. There are some important challenges to be aware of too. Before taking the plunge, here are some questions to ask yourself:

Do you have to have a good credit score and debt/income ratio? Ideally, you’ll want a credit score above 740 and total debt payments (including future mortgage payments) of no more than 43% of your gross income. If you’re not there, take steps now to improve and protect your credit score and to pay down your debt. Otherwise, you’ll get a higher mortgage rate or you may not even be able to qualify for a mortgage at all. If you have the cash, you can purchase real estate without a mortgage but you lose the benefits of leverage.

Do you have enough savings? A 20% down payment will help you avoid having to pay for PMI (private mortgage insurance) but a 25-30% down payment is often needed to qualify for the best rates on an investment property. You may also need another 2-5% for closing costs. If you don’t have that, start saving now. Keep in mind that you’ll also need savings for emergencies after the purchase, including maintenance and repair costs and covering the mortgage during vacancies.

Do you have time and patience? Sites like Roofstock are making it easier, but buying direct real estate isn’t as easy as buying a mutual fund. You’ll likely have to spend a lot of time researching and looking at properties and may not get your first, second, or even third choice. Even once you have a signed contract, expect lots of phone calls, emails, and paperwork to complete the transaction.

Do you know how you’ll manage the property? The first method makes it a business/part-time job. The second is an additional expense that can cut into your returns.

What tax bracket are you in? While there are lots of tax breaks from owning direct real estate, the rental income is subject to your ordinary income tax rate, which is higher than the tax on qualified stock dividends. One way to avoid this is to invest more for appreciation than income while you’re working and in a high tax bracket. Another is to purchase real estate in a self-directed IRA, which can grow to be tax-deferred or tax-free, but that comes with its own complications.


Are you okay having your money tied up? You can’t generally sell real estate as fast as you can a stock or mutual fund and transaction costs can be high. You can take out a line of credit to borrow against any equity you have, but that still needs to be paid back.

Do you have a high risk tolerance? People often think that real estate is less risky than stocks. With an individual stock, you could lose all the money you invested, but with a rental property, you can actually lose more than you put in. After all, you’re on the hook for maintenance costs and mortgage payments even if you don’t have a paying tenant. If you sell it at a loss, leverage can work against you as you can end up not just losing your down payment but also possibly being stuck with an underwater property.

Like any investment, real estate has its pros and cons. The important thing is to go into it with both eyes open. It’s not just location, location, location. It’s also education, education, education.

(https://www.forbes.com/sites/financialfinesse/2017/08/09/should-you-invest-in-rental-real-estate/#4c46e61f5c15)#RealEstate
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