Real Estate Information Archive

DID YOU KNOW THAT IN BROWARD COUNTY, FL YOU CAN GET EXTERIOR PAINT FOR YOUR HOUSE FOR FREE?

Last year while attending Hollywood’s Code Academy I learned about a wonderful program called “Paint it Broward”.  This program began in 1999 and more then 30,000 gallons of paint have been given away since its inception.   Last year in the City of Hollywood alone 750 properties were painted using the paint from this program!

Where do they get the paint?  All of the latex paint collected at Broward County’s Household Hazardous Waste Disposal Program is re-blended and recycled into new, high-quality exterior paint which is available to residents at no cost!

Visit http://www.broward.org/waste/iwi04100.htm to see more about the paint recycling program including a list of participating cities including Hollywood, Ft. Lauderdale, Pembroke Pines, Plantation and Sunrise, just to name a few.

After you pick up the pain you have 60 days to use it.  Someone from the city then comes out to inspect.  The program is intended for single-family homes only; no commercial properties or multi family dwellings are included.

So no more excuses; get out there and improve the appearance of our neighborhoods.  Paint it Broward!!

Ellen Bithell, CRS, CREO, SSS (short sale specialist)

SELLING SOUTH FLORIDA

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p.s. just a reminder that I will be teaching a home buyers seminar on 5/30/09, some of the topics include: free government money, $8,000 tax credit, purchasing HUD homes, foreclosures & more!

I have always loved to entertain and have had the fun of hosting many parties at my home.  This year though, with the economy being what it is, I wanted to host an engagement party for my good friend Ali and her soon to be husband John and keep the expenses manageable.

The party was to be held at my home and, due to the wonderful weather in South Florida, it was to be an indoor/outdoor affair.  Looking around my backyard I realized that the outdoor furniture was not in party perfect condition; in fact, it had quite a bit of rust and discoloration from wear and the weather.  Previously I would have replaced it but I figured there had to be a more economical solution than that.  Thankfully there was! I had all of the furniture sanded and repainted with Rustoleum, making it all look as good as new!  We pressure cleaned and sealed the deck and filled up the hanging baskets with some pretty impatiens.  My husband replaced the motor in our non-flowing fountain for $40.00 and it looked and sounded lovely!  The outside now looked like paradise and it was time to spruce up the inside as well.

Previously I would have the doors and baseboards repainted to remove the scuffs and other marks from a busy home with two children who have lots of friends over all of the time and two rambunctious boxers.  This year Phil did all of the touch up work for me; it came out great and cost nothing as we had the paint in the garage.  Ditto for the towel bar that had come off the wall in the hallway bathroom about a month ago.  Phil was able to reglue the bracket to the wall and it was new again.

My areas of expertise as well as enjoyment are the invitations and the food.  I purchased 50 invitations at Office Depot for $35.00 and printed them from home, adding a sweet bow that came with the package after the invitations had cleared the printer.  They looked as if they had been professionally printed at a fraction of the cost.

I visited my friend, Sally Grant, at Dream Dinners in Sunrise, FL and we prepared a menu.  If you have never been to Dream Dinners it is a wonderful service that you have to experience for yourself: www.dreamdinners.com.  I prepped a quiche, bbq beef and chicken enchiladas for appetizers and chicken marsala and beef Bolognese for entrees.   My friends also contributed two more entrees, rolls, salad & two amazing desserts.  Had I had the party catered I would have spent 2-3 times what I did (and I don’t think it would have been nearly as good!).  For drinks I had a large drink dispenser which I filled with 1 sliced cucumber and equal amounts of sliced strawberries, ice and water (a trick I learned from a Royal Caribbean Cruise).  The cost is almost nil, it is lovely and everyone enjoys it! 

I took loads of photos with my camera and updated them to facebook for everyone to enjoy!  The bride & groom to be could not have been happier or more appreciative and I have been receiving calls and emails all day with rave reviews about the celebration.

So my message is to get out there and enjoy the summer, have friends over and be creative about cutting costs.  At the end of the day you will have had a great time and so will your friends and/or family.

Wishing you many happy gatherings!

Ellen M Bithell, CRS, CREO, SSS (short sale specialist)

Selling South Florida 

P.S.  I was featured in a full page of Florida Realtor Magazine for the month of May; check out the link to see the story!

http://www.homeinsouthflorida.com/Buyer-Resources/Buyer-Suggested-Reading/Realtor-Magazine-May-2009 

HOW TO HAVE THE GOVERNMENT HELP YOU BUY A HOME 

Recently the Sun Sentinel published the attached article: http://www.sun-sentinel.com/news/local/broward/sfl-grants-foreclosed-homes-b040sbapr09,0,6330758.story regarding Neighborhood Stabilization Program (NSP) funds to help buyers purchase foreclosed homes. Each Dade and Broward city sets up its own rules.  In some, the purchaser must be a first time home buyer; this includes anyone who has not owned a home in three years. In other cities, including Pembroke Pines, Miramar and Coral Springs, these funds are available not only to first time home buyers, but to any candidate planning to purchase a home priced up to $250,000.  These funds can help buyers take advantage of the current economic situation by enabling them to easily afford a nice home. Many potential home buyers who wouldn't have been able purchase because of the previous soaring home prices in Dade and Broward Counties can now buy a home with the NSP funds provided by many cities. This is now, more than ever, the time to have the government help you buy a home!  

You might want to consider Wendy's situation to add concreteness to all this information. Wendy is a Broward County school teacher who applied to the City of Pembroke Pines for NSP funds and is expecting her approval letter in the mail any day now! She was awarded $100,000, the maximum NSP funding, including up to $50,000 in purchase assistance and up to another $50,000 in rehab funds if needed. If all this appeals to you and you are interested in learning more about the programs available in many cities who have NSP funds available including, but not limited to: Pembroke Pines, Miramar, Plantation, Coral Springs, Hallandale & Hollywood, you can find out more on www.CRAFLA.com.

You can also refer to me as an expert source or refer to other professional real estate agents familiar with all the programs. We can help your readers in finding which program best suits their needs and also help them take advantage of up to $100,000 in NSP funds. 

Ellen Bithell, CRS
954-862-2631
ellenbithell@remax.net

Let’s take a look at the Miami real estate sales statistics for March compared to March 2008 to see how the market is looking in South Florida:

Condo/Coop/Townhouse/Villa Sales in Miami

March 2008 market statistics for condo/townhouses etc. in Miami showed an increase in sales with sold listings up by 63.8 percent compared to 2008. New listings decreased by 31.5 percent. The average sales price dropped 50.9 percent to $177,683 and the year-to-date sales price dropped 45.9 percent to $176,990.

If you want to learn more about South Florida real estate, please contact us at 888-SFL-TEAM or visit HomeInSouthFlorida.com. To begin searching for South Florida homes, please use our complimentary MLS search. 

Statistics provided by the Realtor Association of Miami-Dade County and are deemed reliable, but not guaranteed.  

FREE GOVERNMENT MONEY AVAILABLE!!
Did the title get your attention, it sure get’s mine. I will be participating in two home buyer seminar’s this month, one on 4/18/09 (actually my partner, Agnes Stalmach, will be there as I will be on the west coast of FL with some friends) from 9 am – 5 pm at HOPE Human Resource Development, Inc. 2305 Sheridan Street - Hollywood, Florida 33020 and another on 4/24/09 from 11am – 3 pm at Regions Bank in Pembroke Pines. 

We will be going over the steps to home ownership, the $8,000 tax credit, the FANTASTIC grant programs currently available through Broward & Palm Beach County & various cities, some offering up to $100,000 and you don’t have to be a first time home buyer to qualify.
Check out: www.crafla.com for more information and read the attached link from a story that ran on April 13, 2009 in the Sun Sentinel:
http://www.sun-sentinel.com/news/local/broward/sfl-grants-foreclosed-homes-b040sbapr09,0,6330758.story
To get free listings of properties as they come on the market visit: www.NewSouthFloridaListings.com
And remember, it’s a great life!

Ellen M Bithell, CRS, CREO, SSS (short sale specialist)
SELLING SOUTH FLORIDA 
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SOUTH FLORIDA
HOT AIR BALLOON EVENT

The Bithell-Stalmach Team of RE/MAX Executive Realty hosted the signature RE/MAX Hot Air Balloon with its globally recognized red, white and blue colors at "Take Steps for Kids in Distress" held at Markham Park (16001 West State Road 84, Sunrise, FL) on April 4th.  After seeing the great job that they did, I look forward to participating again next year and getting more involved with the committee and the planning of this event.

I have visited Kids in Distress at their inspiring Fort Lauderdale campus and witnessed the wonderful work that they do in caring for abused and neglected children.  Most people who know me know that my husband and I were Broward County Foster Parents for 10+ years and raised our three nephews for 13+ years, so organizations like Kids in Distress are really very personal to me.

Participants in "Take Steps for Kids in Distress" competed on a USATF certified 5K course.  They registered either as part of a Team or as Individuals and chose to be designated as either runners or walkers. This was the perfect Employee Wellness activity for April which is Child Abuse Prevention month!  Everyone was included, from family and friends to favorite pets. Participants were able to discover the natural beauty of Markham Park and to join KID supporters (including 450 corporate team registrants) to help raise funds and awareness. The event was free and tickets for a tethered balloon ride in the RE/MAX Hot Air Balloon were sold to raise funds for Kids in Distress. Several hundred dollars were raised.

The RE/MAX Hot Air Balloon Fleet is one of the largest in the world, with over 120 balloons located on six continents.  The distinctive red, white and blue balloon, which represents the international RE/MAX real estate network, has become one of the most recognized corporate images in the world.

 RE/MAX EXECUTIVE REALTY- Each Office Independently Owned and Operated

Pending home sales declined on the heels of a weakening economy and with some buyers waiting for clarity on housing stimulus provisions, according to the National Association of Realtors^®.
 

Let’s take a look at the Miami Beach real estate sales statistics for February compared to February 2008 to see how the market is looking in South Florida:

Condo/Coop/Townhouse/Villa Sales in Miami Beach

February 2008 market statistics for condo/townhouses etc. in Miami Beach showed an increase in sales with sold listings up by 39.4 percent compared to 2008. New listings decreased by 11.5 percent. The average sales price dropped 40.3 percent to $440,979 and the year-to-date sales price dropped 10.4 percent to $554,137.

Statistics provided by the Realtor Association of Miami-Dade County and are deemed reliable, but not guaranteed.  

If you want to learn more about South Florida real estate, please contact us at 888-SFL-TEAM or visit HomeInSouthFlorida.com. To begin searching for South Florida homes, please use our complimentary MLS search. 

Guest blogger, Justin Miller, further explains something that everybody seems to be talking about, and that is What Is The 787 Billion Dollar Stimulus Package? I am still trying to get my mind around how many zeros would be in billion! Read on as Justin breaks is down for us!
P.S. Wondering what property values in the Miami Area including foreclosures, HUD homes and short sales are? Check out Market Snapshot!

Ellen Bithell, CRS, CREO, SSS (short sale specialist)
SELLING SOUTH FLORIDA

Just signed and sealed…a $787 Billion Stimulus Plan made up of tax cuts and spending programs aims at reviving the US economy. Although the package was scaled down from nearly $1 Trillion, it still stands as the largest anti-recession effort since World War II.

Homeowners and potential homebuyers stand to gain from key provisions in this stimulus plan. Here is what we know as of today...

Tax Credit for Homebuyers

First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit.  Remember a tax credit is very different than a tax deduction – a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income.

The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000.  Buyers will have to repay the credit if they sell their homes within three years.

Additional Housing-Related Provisions

Tax Incentives to Spur Energy Savings and Green Jobs — This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.

Landmark Energy Savings — This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization.  According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.

Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing—This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs.  Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section 8) to increase energy efficiency, including new insulation, windows, and frames.

Expanding Housing Assistance—This provision increases support for several critical housing programs. It includes $2 Billion for the Neighborhood Stabilization Program to help communities purchase and rehabilitate foreclosed, vacant properties.

More Help for Homeowners in the Future

Another thing to keep an eye on in the coming weeks is President Obama’s plan to help struggling borrowers before they are faced with a default on their mortgage.

According to reports, the Obama administration is discussing plans to help borrowers who are struggling to stay afloat, but who have not yet fallen behind on their payments. At this point, details are scarce; however, reports indicate that President Obama is looking to spend approximately $50 Billion to directly help homeowners before they face foreclosure and financial disaster.

While this is good news for individual homeowners, it will likely be good for the housing industry as a whole. That’s because, assisting struggling borrowers before they default should help stop the wave of foreclosures, which are estimated to top two million this year. That, in turn, will help stabilize home prices.

The Economic Stimulus Plan is huge, and impacts a number of industries. I’ve highlighted some of the major provisions that may impact you now and in the future.

As always, if you have any questions or would like to discuss how this may specifically impact you, I’d be happy to sit down with you. Just call or email me to set up an appointment.

Thanks

Justin Miller

FROM  MY INBOX: Reading through the mass of emails I get I am always drawn to the blog posts from Deborah Boza-Valledor from the Realtor Association of Greater Miami and the Beaches.  She continually posts timely blogs, and this one is no exception.   Interest rates are at historic lows and whether you are looking to purchase or refinance I have never seen interest rates like these!  I got a call from my father in CA who was considering refinancing an investment property he and my mother have. 

By the time they signed the documents last week their monthly payment had been reduced significantly and they were able to shorten the term of the loan as well.  This inspired my father to urge my younger brother to go from being a renter to a homeowner; something previous prices prevented him from pursuing.  Jon (my brother) is now looking at properties and the pride and excitement in his voice during the numerous conversations we have had about it are evident.  So if you have been on the fence, take the leap of faith! Please look at Market Snapshot to see homes in the areas you may be considering!

Ellen Bithell, CRS, CREO, SSS (short sale specialist)

SELLING SOUTH FLORIDA 

Mortgage rates drop to record low

Mortgage Rate Trend Index

This week, half of the mortgage industry experts polled by Bankrate.com believe mortgage rates will rise over the next 35 to 45 days. The other half are split equally (25 percent each) between those who think rates will fall and those who believe they will remain relatively unchanged.

WASHINGTON – March 27, 2009 – Rates on 30-year mortgages fell this week to the lowest level on record after the Federal Reserve launched a new effort to assist the staggering U.S. housing market.

Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dropped to 4.85 percent this week, from 4.98 percent last week. It was the lowest in the history of Freddie Mac’s survey, which dates back to 1971 and was down a full percentage point from a year ago.

The previous record low of 4.96 percent was set in the week of Jan. 15. Rates fell after the Fed last week said it will pump $1.2 trillion into the economy in an effort to lower rates on mortgages and loosen credit.

Rates on 30-year mortgages traditionally track yields on long-term government debt.

Though the yield on the benchmark 10-year Treasury note initially plunged by about 0.5 percentage points after the Fed’s move, lenders did not pass the entire drop on to borrowers. Bond yields rose after worries about what some saw as lackluster demand at a government debt auction Wednesday.

“There was a honeymoon effect initially” after the central bank’s announcement, said Greg McBride, senior financial analyst with Bankrate.com. “The reality of large government deficits and the need for substantial government borrowing is setting in with investors.”

Mortgage applications surged last week, mostly from borrowers looking to refinance and save money on their monthly payment. The Mortgage Bankers Association said Wednesday its weekly application index climbed more than 30 percent for the week ended March 20.

Nearly 80 percent of applications came from borrowers seeking to refinance home loans at lower rates, rather than purchase homes.

In Freddie Mac’s survey, the average rate on a 15-year fixed-rate mortgage dropped to 4.58 percent this week, down from 4.61 percent last week.

Rates on five-year, adjustable-rate mortgages fell to 4.96 percent, compared with 4.98 percent last week. Rates on one-year, adjustable-rate mortgages rose fell to 4.85 percent, from 4.91 percent.

The rates do not include add-on fees known as points. The nationwide fee averaged 0.7 point last week for all mortgages in Freddie Mac’s survey except for one-year adjustable mortgages, which had an average fee of 0.6 point.

FROM  MY INBOX: Reading through the mass of emails I get I am always drawn to the blog posts from Deborah Boza-Valledor from the Realtor Association of Greater Miami and the Beaches.  She continually posts timely blogs, and this one is no exception.  It is about now being a great time to buy, and I could not agree more.  Last week I was on the phone with my younger brother, Jon, who lives in Southern California and for the first time housing there is affordable. 

He is looking to be a first time home buyer and with the $8,000 first time home buyer tax credit, large inventory and historically low interest rates, if now is not the time, then what is?  If you are thinking about buying and want to know how what is available please visit: www.NewSouthFloridaListings.com for free emails of homes as they come on the market including foreclosures, HUD homes and short sales.

Ellen Bithell, CRS, CREO, SSS (short sale specialist)

SELLING SOUTH
  
Survey: Households say Now Is A Good Time To Buy

March 28, 2009 by Deborah Boza-Valledor

    *ORLANDO, Fla. – March 27, 2009 – Out of 1,000 potential first-time home buyers, 78 percent say that now is a good time to buy a home, despite widespread concern about the economy. And 68 percent think now is a better time to buy than six months ago. The survey was conducted in early March for the Century 21 First-Time Home Buyer Survey.

Prices are the driving motivation for potential first-time home buyers, with more than eight of 10 first-time home buyers (85 percent) saying they consider current home prices affordable, and 73 percent citing current prices as a major factor in their decision to buy now. However, potential first-time buyers are still split between “being willing to consider an offer now” (42 percent) and “waiting for prices to go down before they seriously consider making a purchase” (48 percent).

“Current pricing, rates and incentives, such as the First Time Homebuyer Tax Credit, provide tremendous opportunities for first-time home buyers to get into the market,” says Tom Kunz, Century 21 Real Estate president and CEO. “Our research shows that while consumers still have concerns about the future of the economy, many are actively considering their options as we move into the spring selling season.”

Among the survey’s other key findings:

• Bargains in the marketplace provide additional options for buyers to consider. Fifty-six percent of potential first-time home buyers are considering a foreclosed or short sale home, and 63 percent are open to a “fixer-upper” or “as-is” home.

• When asked to rate the features that they look for when choosing a home, price is the primary consideration, with 87 percent saying this feature is “very important,” followed closely by neighborhood safety (80 percent) and the home’s condition (71 percent).

• Having enough money for a downpayment is a top concern of potential first-time home buyers, as nearly half (46 percent) said they are “very worried” about the issue.

• Most respondents (86 percent) are in the market for single family homes.

Source: Century 21

© Copyright 2009 INFORMATION, INC. Bethesda, MD