Real Estate On Tap

Home Values Moving Up!

Consumer Outlook for U.S. Home Prices

“The consumer outlook for U.S. home prices improved again in January, extending a recent upward trend in housing market sentiment, according to mortgage market firm Fannie Mae.”  This is the sentiment as reported in the Wall Street Journal the other day. The home values in areas that are desirable are moving in the right direction, and that is up!  The old axiom, “Location, Location, Location” is true as it always will be true.  Appraisals are now starting to come in at asking prices again, and therefore people are finding that they can sell as well as buy with confidence.

Chairman’s Comments

And, as was touted by the Fed Chairman Mr. Bernanke, there is ”No Silver Bullet” for the housing market.  But to that end, the Fed is attempting to keep rates low as was reported in the Wall Street Journal “Thanks to Fed monetary policy, interest rates on 30-year fixed mortgages are already at or near their lowest levels in recorded history, making it cheaper than ever for consumers to finance the purchase of a home.  And two weeks ago, Mr. Bernanke signaled publicly that short-term interest rates will remain low through 2014.”  So don’t wait till the rates go up and home prices are out of reach.

Adam Granger is a Home Mortgage Consultant with HomeServices Lending, LLC., an Affiliate of Wells Fargo Home Mortgage.  He is a frequent commentator at RealEstateOnTap and can be reached at 954-306-7218 or by emailing him here.

Tags: adam granger, ewm international, ewmrealtors, homeservices lending, jason kapit, Wells Fargo, wells fargo home mortgage

Attention Cash Buyers!

A Potential Idea

Here in south Florida I have noticed an increase in the amount of homes that are being purchased with cash.  Why?  Great prices.  Lack of investment options with significant ROI.  But here’s a thought.  With home prices as good as they have been in over a decade, why not buy two?  The thought process being, buy the primary with financing and buy the investment property for cash.  This way you get the tax benefit of having the interest deduction on the primary and the depreciation on the second home along with cash flow on the investment property.  It is a win-win situation.

Expectations

I expect interest rates should remain low as the FED is working very hard to keep it this way.  Therefore, property values should go up over time.  What I am suggesting is to not miss the opportunity that is out there in a market that has been seriously hurt by foreclosures and short sales.  Ad for those who cannot buy with cash, don’t miss out on a chance for record low interest rates and fabulous prices on homes.  Talk to a realtor today to see what is available, and become a home owner.

Adam Granger is a Home Mortgage Consultant with HomeServices Lending, LLC., an Affiliate of Wells Fargo Home Mortgage.  He is a frequent commentator at RealEstateOnTap and can be reached at 954-306-7218 or by emailing him here.

Tags: adam granger, ewm international, ewmrealtors, homeservices lending, jason kapit, Wells Fargo, wells fargo home mortgage

Momentum at the High-End

Marketing Luxury Real Estate

When it comes to residential real estate, all homes are not created equal.  Hence, one report cannot classify the sector as a whole.  For the last few years, the story had been one of redundancy.  The housing market is weak and without a housing market recovery, the overall economy will not improve.  And while most economists agree that there is indeed a correlation, the more important question to those in the trenches, is what part of the market is strong and poised for a comeback.

Selling High-End Homes Throughout Western Broward County

Having sold over $30 million of luxury properties in 2011 throughout Cooper City, Coral Springs, Davie, Parkland, Southwest Ranches and Weston, I know what is and isn’t selling.  There seems to be a lot of action across the board but even more so at the luxury level (properties priced above $1 million).  The reason?  That’s up for debate, but my thinking is outlined below.

The Attraction To Luxury Homes

[1] The homes are fairly priced and present exceptional value to the astute buyer.  When you consider what it might cost to build these homes, the sales price, quite often, represents a fraction of the cost.

[2] Most luxury home buyers pay cash, avoiding mortgage and lending issues that have served to derail a plethora of transactions over the past few years.

[3] A lack of options for buyers/investors dictates diversifying into the real estate/tangible asset sector.  If you are sitting idle with cash, there are not a lot of options, at least for those averse to high risk or non-existent returns.  Putting your money in the equity markets is a tough play considering the choppiness and unknown global concerns/fears.  As for putting it in the banks stateside, assuming you were comfortable with the bank’s stability, are you going to be happy with .5% return (or less) on your money?

[4] Timing is everything.  If you can afford to buy a luxury property for cash, you are way ahead of the game.  You can negotiate aggressively based on your ability to close quickly without delay or third party interference.  Furthermore, because mortgage rates are so low, if cash flow ever became an issue post-close, the ability to refinance or obtain an equity line at a very appealing rate would be possible and certainly not as taxing as obtaining a mortgage at the onset.

Jason A. Kapit, Esq. is a real estate agent with EWM Christies International.  He concentrates in the luxury home space with offices in Las Olas and Weston Town Center.  Contact him at 954.650.4443 or [email protected]

Tags: broward luxury, cooper city home, cooper city real estate, coral springs home, coral springs real estate, davie home, davie real estate, ewm realtors, ewmrealtors, jason kapit, luxury florida homes, luxury real estate, parkland home, parkland real estate, southwest ranches home, southwest ranches real estate, weston home, weston real estate

EWM #1 In Luxury Sales

You Can’t Argue With Solid Numbers

These numbers are very telling about our market share in the luxury residential space of South Florida’s real estate market.  Our ability to reach buyers WORLDWIDE through ingenious online and print media marketing has propelled us to the top of the list.  We are the most sought after real estate firm to assist luxury homeowners in the marketing, negotiation and ultimate sale of their residences.

For more information on how I can help, please contact me directly at 954.650.4443 or via email.

Tags: Christies, christies great estates, christies international real estate, esslinger wooten maxwell, ewm realtors, ewmrealtors, j kapit, jason kapit, luxury real estate, million dollar homes, ron shuffield

Off-Market Hardly Noticeable in Landmark Ranch Estates

Only 20 Lots Remain

Going into its sixth year of the real estate market downturn, it would seem that neighborhood after neighborhood would be severely impacted beyond repair.  Not so for Southwest Ranches’ Landmark Ranch Estates.  The 44-lot enclave which caters to the super wealthy apparently didn’t get the memo as the last remaining home just sold. Now, just 20 lots remain. Read the rest of this entry »

Tags: brandon marshall, christies great estates, ewm realtors, ewmrealtors, jason kapit, jay kapit, joey porter, Landmark Ranch Estates, luxury real estate, online listing presentation, real estate marketing, southwest ranches fl, southwest ranches florida

Happy Mother’s Day

Enjoy Your Day!

The EWM Guys want to wish all a very Happy Mother’s Day!  We know it can be a thankless job, but trust us, we appreciate YOU!  So enjoy your day.  You certainly deserve it!

Jason Kapit, Esq.   |    James San Martin    |     David Betancourt    |    Elias Palacios

Tags: david betancourt, elias palacios, ewm, ewm guys, ewm realtors, ewmguys, ewmrealtors, happy mothers day, james san martin, jason kapit, mom, moms