I'm starting to see the market heat up these days. The phone is ringing and people and people seem to be having some more confidence that the market has stabilized in Miami Beach. However, the market was made with short sales and foreclosures, so the correction has occurred. It is still a very difficult time for everyone because of the economy - the high price of gas! That is one of the great things about South Beach and a reason why I will always have a home here - we are a pedestrian city. You can walk or ride your bike anywhere. This place is all about that lifestyle. I love the building in the middle of the beach - cute art deco properties, with and without parking - plenty of space and you can walk anywhere. There are so many deals with this type of South Beach Condo. I have an adorable one bedroom one bath on Lincoln Road - right by the Van Dyke. The building is adorable and the unit resides in the back corner of the building. It has decorative iron gates with a jungle of foliage. Very private. Awesome beach cottage vibe. Listed for $225K but I know the seller would look at offers under $200K - seriously. Tell whoever you know. Call me for an appointment -786 301 4424.
July 12, 2008
I have been going through some challenging experiences with the market and the economy - so I have been practicing looking for the positives to keep me motivated. Here's a positive -- I am learning how to apply my skills in different areas of the business making me a better broker. I have been performing BPO's for banks and lenders. A BPO, or Broker's Price Opinion is like an appraisal, just done by a broker. Banks hire me to give them opinions of value when they are evealuating their portfolios for short sales and forclosures. I learn all the inventory out there and get a real feel for what is happening in the market - intimately. I have learned how to do killer research on propeerties, finding buried, yet critical info to assist in a sale.
BIG NEWS FROM THE CONDO QUEEN: the Condo Queen will be moving into a gorgeous, bustling office. My soon-to-be new office will be located in Keller Williams, at 1680 Meridian Ave just a half of a block north of Lincoln Road, South Beach. I'll let you know when the move is official.
June 13, 2008
So this is the spot where I can get chatty and catty and tell you all the great dish. Make sure to check back often to see what new tid bits I will be serving up. For now I'm going to talk about how STUPID the banks are being with all this short sale business. I mean, REALLY.
I do a lit of work with short sales and I perform what is called BPO's (broker's priced opinions) for these banks. A BPO is like an appraisal, only done by myself and not a certified appraiser. In my opinion, closer to a real opinion of value as it will take intop account actually SELLING the unit in the future, rahter than just the closed comps. So, I am dealing with several of the big banks now and they are just plain retarded.
I have a 1/1 South of 5th with parking that I have had on the market for 2 months and brought them a CASH OFFER ready to close ASAP. They are willing to let the property go to foreclosure rather than accept the cash offer. Now, these negotiators, or loss mitigation specialists are empowered to make deals. But, they have such a workload they can hardly follow up. You can't call them, email them - only send faxes and pray they call you back. What kind of Mickey Mouse crap is this???
And, at the end of everything - they take attitude with me- I am bringing them a cash buyer, to let them get something off their books and move on, lighten the load as it were - and well, no good deed goes unpunished. So, my advice to you - if you can avoid a short sale - AVOID IT. Lots of time, aggravation, and you have no idea if you will get anywhere at all. More later . . if you have comments - send me an email.
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