Thursday, April 20, 2023 / by Dave Magua
The South Florida real estate market has been heating up in recent months, and many experts are predicting that now is the time to sell. From Miami to West Palm Beach, demand for homes and condos has been increasing, and prices have been rising as a result.
One of the factors driving this trend is the influx of people moving to South Florida from other states. Many individuals and families are drawn to the area's warm weather, beautiful beaches, and vibrant culture. Additionally, the state's lack of income tax and favorable business environment are attracting companies and entrepreneurs, further fueling population growth.
Another contributing factor to the hot real estate market in South Florida is the limited supply of available homes. New construction has been slow to keep up with demand, and many homeowners are holding onto their properties rather than selling. As a result, competition among buyers has increased, driving up prices and creating a seller's market.
So wh. ...
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Wednesday, March 29, 2023 / by Dave Magua
Day of Closing
Property Walkthrough:
1. The buyer will walk through the property to make sure that everything is in the condition agreed upon in the sales contract, and that any required repairs have been made.
2. Final Closing Disclosure Review: The buyer will review the final closing disclosure, which outlines all the costs associated with the transaction, including the down payment, closing costs, and any prorated expenses.
Signing of Documents: The buyer will sign all the necessary documents, including the mortgage agreement, promissory note, and deed of trust.
3. Payment of Closing Costs: The buyer will pay all the closing costs, including the down payment, closing costs, and any prorated expenses.
4. Title Transfer: The title of the property will be transferred from the seller to the buyer, and the deed will be recorded with the appropriate government office.
5. Disbursement of Funds: The funds will be disbursed. ...
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Wednesday, December 28, 2022 / by Dave Magua
Kolter Urban started building Selene Oceanfront Residences, after scoring a $240 million construction loan for the pair of condominium towers that will be the tallest along Fort Lauderdale’s oceanfront.
The firm is developing the 26-story buildings, with 194 units combined, at 3000 Alhambra Street. Wells Fargo, as an administrative agent for several lenders, boosted a $17.4 million mortgage on the property by $222.6 million, records show.
Kolter Urban launched sales of Selene last year after obtaining final city commission approval for the project in 2020. The 300-foot tall towers will include nearly 6,000 square feet of retail and restaurant space, according to the project’s website. Kobi Karp is the architect.
Led by Bob Vail, Kolter Urban is the condo development arm of Delray Beach-based Kolter Group. The parent company also has subsidiaries focused on single-family homes, multifamily and hospitality, according to its website. Bobby Julien is CEO of. ...
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Tuesday, December 27, 2022 / by Dave Magua
Staging a home for sale may require some extra presale prep, but the time and money reap plenty of rewards. The majority of buyers' agents (82%) said that staging makes it easier for buyers to visualize a property as their future home, according to a survey by the National Association of Realtors. Nearly a quarter (23%) of buyers' and sellers' agents said that a staged home received an offer 1% to 5% higher than a similar home that hadn't been staged and 18% of sellers' agents said the value of a staged home was 6% to 10% higher. In addition, 31% of agents said that staging decreased the days a home spent on the market.
Among the places to stage, living rooms and kitchens are the most popular, followed by the master bedroom, dining room, and home office. Revive provides professional guidance and services to help you and your clients decide which areas to stage before a sale to help buyers see themselves living in a home.
While each home is different, these seven tips offer a startie ...
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Monday, December 12, 2022 / by Dave Magua
The pandemic disrupted Miami residential real estate in extraordinary fashion, dramatically inflating prices and demand for housing and forever altering the way people think about work, education and lifestyle. At the peak of this unprecedented cycle, bidding wars erupted as soon as listings hit the market, to the spectacular benefit of sellers and agents like me.
But this cycle was never sustainable and has obviously come to a bumpy end. Data clearly shows that the great rush has been over for months, with today’s Miami buyer pool cutting a sharply different profile. Last year, they were making quick decisions; now, they are much less desperate and infinitely more discerning. Time and patience have taught them that they don’t need to be tied down to any particular location, and decision-making has become more difficult. Economic concerns about interest rates, jobs, the stock market and a looming recession that did not exist in 2020 and 2021 are also major factors. Today&r2 ...
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