What 6 Pieces of Information Make A TRID Loan Application? Submitting these 6 pieces of information – Name Income Social Security Number Property Address Estimated Value of Property and Mortgage Loan Amount sought – constitutes a valid loan application under the TRID rule. You may apply and submit these in writing OR in oral form; a live conversation, or a phone call, backed by a written record of the conversation is a legitimate application. Once these 6 pieces of information are submitted a creditor MUST supply a Loan Estimate for approved loans within 3 business days.
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Calculating Your Asking Price
The Impact of Higher Interest Rates
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.
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
The Roads one of Miami’s most prestigious neighborhoods.
The Roads is a neighborhood of Miami in Miami-Dade County, it is a triangular area located south of SW 11th Street, between SW 12th Avenue and SW 15th Road, just west of Brickell.
The Roads is known for its old homes, historic public schools, and its tree-covered streets. The Roads is very close to Downtown and Brickell, but is a historically residential neighborhood. It is also off the normal Miami street grid, and thus all the streets in The Roads are named roads, instead of streets and avenues, as is the case in the rest of Miami. Since 1986, the Miami Roads Neighborhood Civic Association has worked on a variety of projects to support the neighborhood.
The Roads neighborhood is served by the Miami Metrorail at the Vizcaya station to the south and by the Brickell station to the north.

The Roads, originally called “Brickell Hammock” was designed, platted and developed by Mary Brickell in January 1922 days before her death. Mary Brickell had designed the Roads as a pedestrian-friendly neighborhood, with wide streets with median parkways and roundabouts with native Miami plants. Mary Brickell gave the streets, parkways, sidewalks, and electric lighting to the City of Miami in 1922. All the properties were sold in a single day on February 1, 1923.

The Roads is also an entire off-grid plan section of the city of Miami. The streets and avenues in Miami-Dade County are aligned to a grid, where streets run east-west and avenues run north-south. The roads that run from Broadway to SW 32nd Road are roughly 45 degrees out of alignment with the grid-plan. The avenues running perpendicular to these roads are also 45 degrees out of alignment with their respective avenues coming from the north. The avenues in this section run northeast-southwest rather than the standard north-south that the ones in the rest of the county follow. This causes an abrupt change in numerical designation as they cross SW 12th Avenue (SW 5th Avenue turns west and becomes SW 18th Street, SW 4th Avenue turns west and becomes SW 20th Street, SW 2nd Avenue turns west and becomes SW 22nd Street, etc.) The most well known example of this confusion is when historic Coral Way being SW 3rd Avenue, makes a 45 degree turn onto SW 22nd Street as it crosses over SW 12th Avenue.

The Roads is served by Metrobus and Trolley throughout the area, and by the Miami Metrorail at:
- Brickell (SW 11th Street and SW 1st Avenue)
- Vizcaya (SW 32nd Road and US1)
Metrorail has stops throughout Miami with service to Greater Miami and Miami International Airport, all Miami-Dade County bus lines, Tri-Rail and Amtrak. The main bus station in Downtown is located next to the Arsht Center at the Adrienne Arsht Center Station.

For more information about The Roads please contact me directly

Coral Gables a City Where Homes for Sales Keep Increasing
As the Real Estate market continues to build up in South Florida, Coral Gables luxury homes and condominiums properties are getting listed for sale at more than $1M, the highest number of 2014 sales was in June, representing a 21.4% increase over May and an incredible 278% increase when compared to January. When it comes to luxury real estate sales in South Florida, summer is anything but slow season, maybe not especially when prices increased alongside the number of properties sold.
The average price per square foot for a property sold in June was $476, up $13 from May and a full $85 per square foot from January. In fact, 55 properties were sold or under contract for sale in June, representing over 25% of the entire available inventory.

Two projects are currently in pre-sale in Coral Gables:
-Merrick Manor, a 10-story, 180-unit development located adjacent to the famous Village of Merrick Park.
-Antilla Coral Gables, a 5-story, 45-unit project located in the northeastern corner of Coral Gables.
(If you need more info regarding either of this projects please contact me directly as I have direct communication with the developers)
For those that don’t know, Coral Gables is one of the nation’s earliest planned communities with a centralized business district, and is home to the iconic Biltmore hotel, one of only three national landmarks in Miami-Dade County. Coral Gables also has world-class shopping along Miracle Mile and the Village of Merrick Park, a diverse spectrum of art galleries, theaters and lots of fine dining establishments.
As a result, Coral Gables will continue to have in-demand properties that sell for a premium and should remain a sound investment.

Contact me for more info

Single Family Home Sales – Monthly Market Summary: March 2013
Single Family Home Sales – Monthly Market Summary: March 2013
I am a Miami-Dade real estate specialist. If you would like to schedule a buyer or seller meeting with me, please feel free to call me directly at 786.554.8063 or via email George@GeorgeAssal.com
11 Properties SOLD in the past 30 days in Palmetto Bay Area
I’m a local Real Estate Agent in Miami, I’ve been very successful in finding buyers and getting homes sold in your area, I would like to show you how I can do the same for you.
Houses are selling, and in fact now is a critical time to rely on a professional with a proven track record like mine. With the correct plan of action your house should be sold quickly and get the most money the market is offering. Let’s talk as soon as possible, you can reach me at 786.554.8063 or send me an email George@GeorgeAssal.com you can also visit http://www.GeorgeAssal.com
8 Properties SOLD in the last 30 days in the Doral Area
I’m a local Real Estate Agent in Miami, I’ve been very successful in finding buyers and getting homes sold in your area, I would like to show you how I can do the same for you.
Houses are selling, and in fact now is a critical time to rely on a professional with a proven track record like mine. With the correct plan of action your house should be sold quickly and get the most money the market is offering. Let’s talk as soon as possible, you can reach me at 786.554.8063 or send me an email George@GeorgeAssal.com you can also visit http://www.GeorgeAssal.com