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

Bumpy BUT Successful Ride for Pembroke Pines’ Laguna Isles Sale

In The Spirit of Full Disclosure

To say everything goes smoothly all the time would be foolish.  While we always strive to do our best, there is always the potential for issues to arise and when that happens, our shift focuses on insuring that the nothing derails the ultimate sale.  In selling 19364 SW 66th Street, in the fabulous Pembroke Pines community of Laguna Isles, we encountered a few hurdles, but we were able to manage them and successfully close the deal.  The deal had all the potential hiccups and then some … inspection, appraisal, lost bank data, you name it, we encountered it.  In the end, all was good.  Buyers got the home they wanted.  Sellers got the price they wanted and we were able to facilitate everything in record time without any major delay.

The Unedited “Thank You” and subsequent Response (Testimonial)

We like to do things a bit different here and as such, we have chosen to publish the latest correspondence with our sellers so you can get a glimpse of the emotion and the reality of how our clients really feel about us.

Jay,

Thank you for your expertise and assistance in the sale of our Laguna Isles home. We also appreciate all of your support and guidance in the purchase of our new home.  We recognize the effort of all parties in being able to close on both homes in a short period of time. Our frustration at the end was the communication gaps at times … we were not sure when and where things would take place.  Mark extends an apology for his discussion with you.  We would like to take this opportunity to also thank David Betancourt for his professionalism, support and guidance through this process.  It has truly been a pleasure working with David.  Our family values the relationship we have with you. You will always be the realtor we recommend to our family, friends and business associates.

We wish you and your family a wonderful Holiday Season and Prosperous New Year!!!!

Maria and Mark Reuther
- closed 12-16-11

Tags: jason kapit, laguna isles, pembroke pines, pembroke pines real estate, testimonial

7023 Lost Garden Terrace, Parkland FL 33076

Starting off 2012 with a bang, Jason A. Kapit, Esq. offers this exclusive Parkland Golf & Country Club home for sale

Meticulously maintained and offering the upgrades and comforts one might expect from a home of this caliber.  Spectacular Almeria model in PG&CC Club Estates section. Pristine home offers 5 bedrooms, 5 and 1/2 baths plus separate office and music room. Features include gourmet kitchen, Jerusalem stone across 1st floor (French pattern), Brazilian Rosewood throughout 2d floor, custom draperies/valances & interior paint.  Add to that impact glass for security and weather protection. Entertain in style with fantastic views overlooking the trio: inviting freeform pool, long lake views with scenic bridge right on the spectacular Greg Norman designed (5th hole) golf course!

Great neighborhood boasting gated entrance, water features, lush grounds, sports complex, clubhouse and more.  It doesn’t get better than “A” rated schools, with close proximity to places of worship, professional sports facilities, fabulous restaurants and more.

Easy to show, but by appointment only.  Call me at 954.650.4443 for your private showing.

Tags: almeria, Florida Panthers, greg norman golf course, j kapit, jason kapit, lemon grass drive, lost garden terrace, parkland golf, parkland real estate, pg&cc, stonegate blvd

Phasing Out 2011

The Never Ending Saga

For those with a “never say quit” attitude, it is hard to ever stop pushing, thinking, planning, etc.  Residential real estate for me in 2011 was non-stop. I say that with upbeat graciousness as my clients were wholly instrumental in helping me accomplish what turned out to be a phenomenal year.

But How Do You Wind Down and Recharge?

For me it’s somewhat of a dilemma.  One part of me wants to enjoy the fruits of my labor and take a few weeks off, transitioning slowly in 2012, fully recharged and ready to go.  But then I think back to my days as a trader, capitalizing on tremendous momentum and wanting to take advantage of it while its here.

Recognizing The Best Approach

In my experience, the hardest thing to do is usually the right thing to do and because I never want to even take a moment to catch my collective breath, I have decided to try and relax for at least a few days to insure that I am fresh and ready for an even better 2012.  I would advise all of you, irrespective of your profession, to examine the healthiest path to making 2012 stellar in all regards.

Wishing you a Very Happy and Healthy New Year,
Jason A. Kapit, Esq.

Tags: Happy New Year 2012, jason kapit, jay kapit, kapit reot, recharging for 2012, reot, reotblog

From all of us at RealEstateOnTap.com

Tags: festival of lights, happy hanukah, happy hanukkah, happy holidays, j kapit, jason kapit, jay kapit, merry xmas

Grooving Your Swing!

Please enable Javascript and Flash to view this Viddler video.

I have the great privilege of representing professional athletes when they buy and sell luxury homes here in South Florida.  Every once in a while, I come across something online that is just so impressive, I have to promote it.  As a huge sports fan, in the spirit of some good ol’ baseball fun and as we celebrate a new era with the Miami Marlins, take a close look at what this hitter is accomplishing.  Absolutely incredible!  Enjoy.

Tags: baseball, batting skills, hitting skills, jason kapit, miami marlins, mlb player, pro athlete, professional athlete

Kapit Sells Crown Jewel in Parkland Golf & Country Club

Just In Time For The Holidays!

It was only a matter of time before a Buyer might recognize just how spectacular “Villa Positano” was.  Sitting in the quiet and private cul-de-sac of the “Grand Estates” section of PGCC, the 10,000+ square foot home has one of the prettiest views imaginable overlooking pool, golf, scenic bridge and lake. Everything about the home was carefully thought out and ultimately, it attracted the likes of an astute Buyer.

“The truth of the matter was that there were multiple bidders and someone had to win.  Landmark Custom Homes has been building quality homes in South Florida for decades, and with this sale, makes a dramatic segueway into Parkland Golf & Country Club’s luxury community.  Of course there were challenges, but that has been an understatement in the world of real estate.  At the end of the day, this will be the catalyst for even more extravagant homes to be built within the subdivision.  Although (laughs), none will ever replicate this stunning view.  The old mantra LOCATION, LOCATION, LOCATION couldn’t ring truer.”

Jason A. Kapit, Esq. is an agent with EWM Christies International and has single-handedly sold 3 of the 6 most expensive properties in Parkland, FL in 2011.  For more information about how he can assist you in the sale of your luxury home, contact him at 954.650.4443 or via email.

Tags: custombylandmark, ellemar construction, ewm international, ewm realtors, fl, j kapit, jason a kapit esq., Jason A. Kapit, jason kapit, landmark custom homes, lemon grass, lemongrass dr, mac correa, marshall cohen, parkland, parkland florida, parkland golf, pg&cc, rick bell, stonegate blvd, toll brothers, villa positano, wci

Denver Broncos’ Andre Goodman Sells Weston, FL Home

Andre Goodman Turns To Kapit To Sell Weston Home

It’s always great when the “elite in their respective profession” seek your guidance and representation.  Such was the case when Andre Goodman decided to sell his Weston, FL home.  Goodman, previously a cornerback for the Miami Dolphins was traded to the Denver Broncos in 2009.  For the past few years he was renting the home to former Miami Dolphins Special Teams coach John Bonamego.  When Bonamego took a recent position with the New Orleans Saints, the Goodman family decided it might be time to sell.

The Weston Hills Country Club Residence

The Goodman’s Weston residence was a phenomenal family home in the Hunters Pointe subdivision of Weston Hills Country Club.  Kapit, who also lived in Weston Hills for 10 years has had a lot of success selling there and Goodman sought out his services as someone with the knowledge, experience and ability to garner a premium price for the home.

While making an interception return for a touchdown this season against the Jets (courtesy of Getty Images above), Andre texted (Yes, he can multitask.  The cellphone is in his back pocket – LOL)

“Jason, thanks for all your help. I’m very pleased with the outcome of your efforts in selling my home. Your marketing skills and knowledge of the market was instrumental in attracting buyers. I’m completely satisfied with the short amount of time my home was on the market, as well as the price at which it sold. Can’t thank you enough!”

Andre & Shana Goodman – NFL Cornerback, Denver Broncos

Tags: andre goodman, denver broncos, detroit lions, j kapit, Jason A. Kapit, jason kapit, jay kapit, miami dolphins, nfl, weston hills country club, Weston, FL