Calculating Your Asking Price

 

The best answer is get help from a real estate professional. But, if you only have a few minutes for a video, here are five points to consider.

1. Start With Measurement Learn the average per-square-foot price for recent sales in your neighborhood. That will not set your final price, but it is a baseline buyers will use.

2. Get Comparisons Ask for Comparative Market Analysis – comps – from several agents. Go through each comp with each agent to understand both competitive homes on the market AND each agents potential approach to yours.

3. Market Research. Do your own! – not just online, but in person. That will help you understand your market conditions and the buyers perspective realistically. Markets get hot and cold, up and down, and yours defines the sales envelope for your home.

4. Consider All Terms Price isnt all there is to a sale. Can you close faster? Finance or lease-option the sale yourself? Cover some closing costs? Your flexibility can make sales leverage.

5. It is Not Personal. The hardest tip of all. Most people are emotional about their home. Pricing, in the long run, is going to logical. Theyre buying your house,not your home & memories. Find a real estate professional you like and trustand let them help you through the process.

The Impact of Higher Interest Rates

Interest-Rate

Last week, an article in the Washington Post discussed a new ‘threat’ homebuyers will soon be facing: higher mortgage rates. The article revealed:

“The Mortgage Bankers Association expects that rates on 30-year loans could reach 4.8 percent by the end of next year, topping 5 percent in 2017. Rates haven’t been that high since the recession.”

How can this impact the housing market?

The article reported that recent analysis from Realtor.com found that –

“…as many as 7% of people who applied for a mortgage during the first half of the year would have had trouble qualifying if rates rose by half a percentage point.”

This doesn’t necessarily mean that those buyers negatively impacted by a rate increase would not purchase a home. However, it would mean that they would either need to come up with substantially more cash for a down payment or settle for a lesser priced home.

Below is a table showing how a jump in mortgage interest rates would impact the purchasing power of a prospective buyer on a $300,000 home.

BuyersPurchasingPower3

In Conclusion

If you are considering a home purchase (either as a first time buyer or move-up buyer), purchasing sooner rather than later may make more sense from a pure financial outlook.

Tired of being a tenant? thinking of selling your home?, looking to upgrade? 1st time buyer(s)? buying your dream home? Call us 786.554.8063 or email us George@GeorgeAssal.com, WE are here to facilitate and help you during the process of buying, selling, or renting any real estate needs, which will result in reaching your financial goals quickly and with ease, visit our page www.GeorgeAssal.com

Applying For A Mortgage: Why So Much Paperwork?

Mortgage-Paperwork

We are often asked why there is so much paperwork mandated by the bank for a mortgage loan application when buying a home today. It seems that the bank needs to know everything about us and requires three separate sources to validate each and every entry on the application form.

Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago.

There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any time in history.

The government has set new guidelines that now demand that the bank prove beyond any doubt that you are indeed capable of affording the mortgage. During the run-up in the housing market, many people ‘qualified’ for mortgages that they could never pay back. This led to millions of families losing their home. The government wants to make sure this can’t happen again
The banks don’t want to be in the real estate business. Over the last seven years, banks were forced to take on the responsibility of liquidating millions of foreclosures and also negotiating another million plus short sales. Just like the government, they don’t want more foreclosures. For that reason, they need to double (maybe even triple) check everything on the application.
However, there is some good news in the situation. The housing crash that mandated that banks be extremely strict on paperwork requirements also allowed you to get a mortgage interest rate probably at or below 4%.

The friends and family who bought homes ten or twenty ago experienced a simpler mortgage application process but also paid a higher interest rate (the average 30 year fixed rate mortgage was 8.12% in the 1990’s and 6.29% in the 2000’s). If you went to the bank and offered to pay 7% instead of <4%, they would probably bend over backwards to make the process much easier.

Bottom Line

Instead of concentrating on the additional paperwork required, let’s be thankful that we are able to buy a home at historically low rates.

Tired of renting and/or being a Tenant(s)? Thinking of selling your home?, looking to upgrade?, First Time buyer(s)? Buying your dream home this year? Call us, you know you can count on our help every step of the way while reaching your goal faster, easier and with a smile on your face. 📞786.554.8063 📧George@GeorgeAssal.com 💻 www.GeorgeAssal.com

5 Reasons to Hire a Real Estate Professional Today!

We Help each other to reach the goal
We Help each other to reach the goal

Whether you are buying or selling a home, it can be quite an adventurous journey. You need an experienced Real Estate Professional to lead you to your ultimate goal. In this world of instant gratification and internet searches, many sellers and/or buyers think that they can sell and/or buy through a for sale by Owner also known as FSBO.

The 5 Reasons You NEED a Real Estate Professional in your corner haven’t changed, but have rather been strengthened due to the projections of higher mortgage interest rates & home prices as the market continues to recover.

1. What do you do with all this paperwork?

Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true Real Estate Professional is an expert in their market and can guide you through the stacks of paperwork necessary to make your dream a reality.

2. Ok, so you found your dream house, now what?

According to the Orlando Regional REALTOR Association, there are over 230 possible actions that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, who knows what these actions are to make sure that you acquire your dream.

3. Are you a good negotiator?

So maybe you’re not convinced that you need an agent to sell your home. However, after looking at the list of parties that you need to be prepared to negotiate with, you’ll realize the value in selecting a Real Estate Professional. From the buyer (who wants the best deal possible), to the home inspection companies, to the appraiser, there are at least 11 different people that you will have to be knowledgeable with and answer to, during the process.

4. What is the home you’re buying/selling really worth?

It is important for your home to be priced correctly from the start to attract the right buyers and shorten the time that it’s on the market. You need someone who is not emotionally connected to your home to give you the truth as to your home’s value. According to the National Association of REALTORS, “the typical FSBO home sold for $208,700 compared to $235,000 among agent-assisted home sales.”

Get the most out of your transaction by hiring a professional.

5. Do you know what’s really going on in the market?

There is so much information out there on the news and the internet about home sales, prices, mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively price your home correctly at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a low-ball offer?

Dave Ramsey, the financial guru advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring an agent who has their finger on the pulse of the market will make your buying/selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

Bottom Line:

You wouldn’t replace the engine in your car without a trusted mechanic. Why would you make one of your most important financial decisions of your life without hiring a Real Estate Professional?. We at the ASSAL team want to make sure you reach your goal faster, easier and with a smile on your face! Give us a call today at 786.554.8063 or send us an email at george@georgeassal.com– you can count on our help every step of the way.

Residences by ARMANI CASA – Sunny Isles

The Related Group and Dezer Development joined forces to bring to Sunny Isles Beach, “The Residences by Armani Casa by Cesar Pelli” The most anticipated Ultra Luxury project in Miami. Only 261 families will have the honor to call the Residences by Armani Casa their home.

The Residences by Armani Casa Miami
The Residences by Armani Casa Miami

 

Highlights

.- The brand: First US project by Armani casa

.- Location: Sunny isles Beach

.- The Archited: Cesar Pelli

.- Units: 260 units

.- Prices: starting from $1 million

.- Completion date: 2017

.- Floor Plan: 5 units per floor, the higher the unit the bigger it is.

The Residences by Armani Casa Miami
The Residences by Armani Casa Miami – Oceanfront Living

The Residences by Armani Casa in Sunny Isles Miami are spacious units from 1358 Sq.Ft to 3,756 Sq.Ft and ranging in price between $1,000 – $1,500 per Sq.Ft

Floor plan

Residences By Armani General Floor Plan
Residences By Armani General Floor Plan

 

  • Unit A at Level 4  (Units at a Higher level offer more Sq.Ft)
    • 4 Bedrooms + Den / 5,5 Bathrooms
      • Interior Sq.Ft: 3,326  (At level 28 3,527 Sq.Ft  and No den –  At level 54 → 3,756 Sq.Ft)
        •  Balcony Sq.Ft: 1,440   (At level 28 1,487 Sq.Ft  –  At level 54 1,539 Sq.Ft)
          •  Total Sq.Ft: 4,766
Residences By Armani Floor Plan A
Residences By Armani Floor Plan A
  • Unit B 
    • 4 Bedrooms + Den / 5,5 Bathrooms
      • Interior Sq.Ft: 3,027
        • Balcony Sq.Ft: 898
          • Total Sq.Ft: 3,925
Residences By Armani Casa Floor Plan B
Residences By Armani Casa Floor Plan B
  • Unit C
    • 3 Bedrooms + Den / 3,5 Bathrooms
      • Interior Sq.Ft: 2,712
        • Balcony Sq.Ft: 762
          • Total Sq.Ft: 3,474
Residences by Armani Casa Floor Plan C
Residences by Armani Casa Floor Plan C

 

  • Unit D (Units at a Higher level offer more Sq.Ft)
    • 2 Bedrooms + Den / 2,5 Bathrooms
      • Interior Sq.Ft: 1,816    (At level 281944 Sq.Ft  –  At level 54 : 2089 Sq.Ft)
        • Balcony Sq.Ft: 491  (At level 28496 Sq.Ft  and No den-  At level 54 502 Sq.Ft)
          • Total Sq.Ft: 2,307
Residences By Armani Casa Floor Plan D
Residences By Armani Casa Floor Plan D
  • Unit E  (Units at a Higher level offer more Sq.Ft)
    • 2 Bedrooms / 2 Bathrooms
      • Interior Sq.Ft: 1,358   (At level 28 1,476 Sq.Ft  –  At level 541,610 Sq.Ft)
        • Balcony Sq.Ft: 941  (At level 281,013 Sq.Ft  and No den-  At level 54 1,094Sq.Ft)
          • Total Sq.Ft: 2,299
Residences By Armani Casa Floor Plan E
Residences By Armani Casa Floor Plan E

 

Note: Units C, D and E models are all taken however back ups for these units are accepted

Price Ranges

Residence by Armani Casa - Price Range - ** Prices and availability are subject to change without notice.
Residence by Armani Casa – Price Range –
** Prices and availability are subject to change without notice.

 

For more info regarding Residence by Armani Casa contact me directly

Contact me for more info

 

 

DORAL CAY

Es la comunidad de Town Homes de Lujo mas exclusivas del Doral . Sera una comunidad cerrada de 158 casas con 24 Hrs de Vigilancia 
 
Son 5 Modelos de Casas : Dos modelos de 3 Hab ( Abaco Y Bimini 2 ) y 3 modelos de 4 Hab ( Bimini 1 , Diamante y Cristal ) . El Abaco tiene las tres habtacionesi en la segunda planta  y la Bimini tiene dos Habtacionesi en la segunda planta y una Habitacion en la primera planta . Las de 4 Habitaciones , un modelos tienen las cuatro habtacionesi en la segunda planta y un modelo tiene 3 habtacionesi en la segunda planta y una habitacion abajo . 

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Tendra la mejor Casa Club del Doral la cual tendra un costo de $1,500,000 y tendrad una longitud de 3,405 pies cuadrados . Dicha casa club tendra Un Super Business Center con Media Room , Una Biblioteca con zona de lectura , Piscina Infinita , GYM , SPA , Sala de Fiestas , Parque Acuatico de ninos . 
 
La ubicacion del Proyecto es privilegiada , estara ubicada en todo el centro del doral en plenacalle 58 con la 104 Ave del NW . 
 
Los acabdos son de primera de Quartzo y Cristal . 
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La ventaja de comprar en pre construccion es que cuando la casa este lista el precio aumentara en un 20% . 

El precio por pie cuadrado esta por debajo del mercado 

El metodo de pago es : 30% de inicial y el 70% se puede financiar si el cliente lo desea . Ese 30% de inicial se puede partir en tres pagos : 10% Firma de contrato , 10% Comienzo de cosntruccion , 10% Techo listo . La primera etapa del proyecto va estar lista para finales de Dic 2012 . 
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George R. Assal
RealtorAssociate® | BBF Member | Property Manager |English- Español
EWM Realtors® | A Home Services of America Company |
C: 786.554.8063|O: 305.329.7635|F: 888.240.5507|