Mortgage Rates in U.S. Hit 2017 Lows in Mid-April

According to Freddie Mac's latest Primary Mortgage Market Survey released April 13, 2017, the 30-year mortgage rate in the U.S. dropped for the fourth consecutive week and hitting a new low for 2017.

Sean Becketti, chief economist of Freddie Mac said, "Following a weak March jobs report, the 10-year Treasury yield dropped about 5 basis points. The 30-year mortgage rate fell 2 basis points to 4.08 percent. Not only did the average 30-year fixed-rate mortgage decline for the fourth consecutive week in our survey, it also fell to a new 2017 low."


Freddie Mac News Facts

30-year fixed-rate mortgage (FRM) averaged 4.08 percent with an average 0.5 point for the week ending April 13, 2017, down from last week when it averaged 4.10 percent. A year ago at this time, the 30-year FRM averaged 3.58 percent.
15-year FRM this week averaged 3.34 percent with an average 0.5 point, down from last week when it averaged 3.36 percent. A year ago at this time, the 15-year FRM averaged 2.86 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.18 percent this week with an average 0.4 point, down from last week when it averaged 3.19 percent. A year ago, the 5-year ARM averaged 2.84
Several closely watched mortgage rates fell on Friday. The average rates on 30-year fixed and 15-year fixed mortgages both receded. The average rate on 5/1 adjustable-rate mortgages, or ARMs, the most popular type of variable rate mortgage, held firm.

Mortgage rates are constantly changing, but they have remained in a historically low range for quite some time. If you're in the market for a mortgage, it could be a great time to lock in a rate. Just be sure to shop around.

(Read more:http://www.worldpropertyjournal.com/real-estate-news and

http://www.bankrate.com)

Now is the Time to Invest In South Florida Real Estate!

If you’re planning to buy a home or Condo, do it now, because prices are going up for the next few years. Investments in single-family rental properties and Condominium units have good potential in Dade County and Broward County. Apartment developments have the best potential in Miami-Dade. The Best bets for investments are in retail or restaurants, and commercial Office space, which also needs medical office space.

Home prices have been strong in the last three years, I expect they’ll keep rising approximately 7 percent a year. There are strong reasons to believe that from here on we are looking at prices going higher. If you’re looking to buy for the long-term, do it now. If you’re looking for a short-term investment, be very careful, choose your Investments wisely. Despite signs of a slowdown, a new report shows Miami is one of the country’s biggest boomtowns in terms of household growth, and population growth.

A new report by the Miami Downtown Development Authority confirms what the restaurant openings, cranes and traffic snarls already tell us: Young professionals are still moving to downtown Miami in droves, and new businesses are following them. According to the Miami DDA’s Demographics Report, downtown Miami’s full-time population has soared to nearly 90,000 residents. That’s up 32 percent since 2010 and 150 percent since 2000. Young professionals between the ages of 20 and 44 make up about half of this population, helping to fill the more than 20 new residential towers that have been built since the last real estate boom. As the Miami Downtown Population continues to increase, they estimate the current population at 88,540 and project it will surpass 100,000 in 2021. New mega-projects like Brickell City Centre, Miami Worldcenter and All Aboard Florida’s MiamiCentral station are all expected to pull in jobs with their office and retail spaces. The time to make a prudent Investment in Miami is Now.

The Best bets for investments are in Commercial Real Estate. Retail, restaurants, and commercial Office space, which also include medical office spaces in South Florida. Office and industrial rents in Miami will continue to climb in 2017, according to reports. In Brickell, office space is hitting around $60 a square foot for Class A space; back in 2008 the high was in the upper $40s. Downtown Miami and Aventura have hit all-time highs. The urbanization of Miami, has transformed the retail landscape. The time to make a prudent Investment in Miami is Now.


Lazaro Lopez, PA
(786) 525-9430.

Miami Beach Real Estate Market Guide | Analyze the Miami Beach, FL Real Estate Market | Homesnap

Miami Beach Real Estate Market Guide | Analyze the Miami Beach, FL Real Estate Market | Homesnap

HOW TO MAKE YOUR OFFER ON YOUR NEXT HOME STAND OUT

It may seem hard to imagine but, yes, the cycle has spun around and in some markets there are bidding wars leaving buyers wondering, "What can I do to make my offer stand out?"

The real estate market is again heating up and many buyers are trying to get into the market now after taking a long break. For some, it's a chance to become first-time homeowners. For others, it's a chance to make a move up to a larger home or to buy a second home. Still others may have owned in previous years and are now getting back into homeownership. Regardless of the situation, making your offer to buy stand out among the others is important.



-Keep your offer simple and straightforward. In a market that has multiple buyers making offers, one of the best things you can do is keep it simple. That doesn't mean you have to neglect important things that you want in the offer. However, it does mean that you should not get caught up in smaller issues that could become huge issues for no apparent valid reason. For instance, a minor repair might be worth fixing yourself as opposed to putting it in the offer as a repair demand.

-Try writing an offer letter. This is a formal letter explaining why you want to buy their home. This is an opportunity to show the buyers how you will utilize the home. This is where you tell them about your family, how much you like the home and how it's perfect for your needs.

-Personal Delivery. The next two have to do with follow through. It's a good idea to have your agent present your offer in person to the listing agent. It may sound old-fashioned but this can go a long way. Real estate, like all business, is about relationships. Faxing or emailing an offer may seem very efficient but it can be less effective. Your agent should be prepared to build you and your offer up to the listing agent. This will give the agent a good presentation to take back to the buyers.
Loan Officer Follow-Up. Another great tip is to have your loan officer call the listing agent after the offer has been submitted. The loan officer can assure the listing agent that the buyer is qualified and ready to close the deal


This is not where you tell the sellers that you plan to gut their precious home and completely remodel it (even if that's the ultimate plan). You don't write an arrogant letter that expresses “there are many fish in the sea". Instead, you want to convey that this home is the one you truly want to buy. Let the sellers know that you have done your homework and hope that they will accept this offer as this home is a good fit and you're prepared to move quickly.

Most important, be ready to act swiftly when the time comes to close escrow

Miami Metro Area Real Estate Market.

The Miami Metro Area real estate market is serious. The median list price is $370,000 and the average home has been on the market for 289 days. In the past month, there have been 3,184 real estate transactions in Miami Metro Area, with a median sale price of $250,000. The recent sales activity in Miami Metro Area represents a +2.9% change over the prior month.
There are currently 46,443 Miami Metro Area homes for sale, which equals about 14.6 months of inventory. There are 18,315 detached homes for sale, 4,160 townhouses for sale, and 23,843 condos for sale. In the past 30 days, there have been 6,912 new listings in Miami Metro Area, 6,069 price changes, 4,787 new contracts, and 3,184 home sales. Visit the Miami Metro Area real estate news blog for more information.

Active Listings in Miami Metro Area
Median List Price
$370,000 +0.8%
Days on Market
289.0 +2.5%
Total Listings
46,443 +6.0%
New Listings
6,912 -31.7%
Price Reductions
6,069 -32.6%
Current
Month Ago
Year Ago
Median List Price
$370,000
$367,000
$320,000
% Change
--
+0.8%
+15.6%


Recent Sales in Miami Metro Area
Median Sales Price
$250,000 +2.9%
Days on Market
74.0 +0.0%
Total Sales
3,184 -39.4%
Contracts
4,787 -38.4%
Last 30 Days
Month Ago
Year Ago
Median Sales Price
$250,000
$243,000
$235,000
% Change
--
+2.9%
+6.4%

Aventura Homes for Sale

Welcome to Aventura one of the most beautiful and family friendly communities in South Florida.

Residents of Aventura are proud of the beautiful Don Soffer walking trail, Legendary Turnberry 18-hole golf course, nationally recognized Aventura Mall, Arts and Cultural Center, and great schools. Aventura also offers fine dining at any of many fine restaurants to choose from.

The Homes and Condos in Aventura Range in Price from 200k – 1M +

To Learn more more about properties that are For Sale in this Community, click here to start your home search: http://www.aventurapropertiesgroup.com


Lazaro Lopez
Fortune Int’l Realty
(786) 525-9430
http://www.AventuraPropertiesGroup.com
http://www.MiamiPropertyConsultant.com

Auberge Beach Residences & Spa