A-Rod Sells his Miami home for a cool 30 MILLION!!!

A-Rod Sells his Miami home for a cool 30 MILLION!!!A-Rod Sells his Miami home for a cool 30 MILLION!!! Alex Rodriguez hasn’t played at all this 2013 season and spent most of last year striking out with what most baseball aficionados would consider mediocre play at best. But I think most people would agree he hit a TOWERING OUT OF THE PARK GRAND-SLAM HOMERUN with his most recent real estate transaction.

The Yankees 3rd baseman purchased his waterfront Miami Beach in home in 2010 for 7.4 million. He then pumped in an additional 7.5 million transforming the 20,000 sqft estate into a work of art with European white oak flooring throughout and glass windows that can be adjusted so that someone can walk straight outside. The house also features a zen garden and rooftop deck. The renovations took him a little over 11 months to complete but for those who can afford its well worth it.

If your keeping a box score that is $7.4million to purchase + $7.5million in upgrades & renovations with a $30 million dollar sold price which = 15 MILLION DOLLAR REAL ESTATE PROFIT in less than 36 months.

Rodriguez moved in October 2011 and, encouraged by the rebound of the Miami real estate market, listed the home for the first time at $38 million a year later. Failing to get a nibble, he took the home off the market in December 2012. Rodriguez never listed the home again, as he was personally offered the deal that was consummated Friday.

“When you’re offered the highest price for a home in a city’s history, you have to take it,” said Jose More, a business partner of Rodriguez who is the vice president of his construction company.

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SOLD $610k – 2400 SW 105 CT Miami, FL. 33165

SOLD $610k – 2400 SW 105 CT Miami, FL. 33165LUXURIOUS AND GATED HOME WITH  4 BEDROOMS 4 FULL BATHS, MODERN KITCHEN WITH AN ISLAND THAT COULD SEAT MORE THAN 8 PEOPLE, 2 ZONE A/C, MASTER BATH WITH JACUZZI, DOBLE SINK AND SHOWER, MASTER BEDROOM WITH HUGE WALK-IN CLOSETS, THE PATIO TASTEFULLY DONE FOR PARTIES AND TO ENJOY THE SOUTH FLORIDA WEATHER (POOL, JACUZZI, GAZEBO, BBQ, ICE MAKER, REFRIGERATOR, TV, BAR)ALL OF THIS IN THE PRIVACY OF MORE THAN 6 FEET TALL FENCE.

Succesfully sold for $610,000 ALL CASH on April 15, 2013:

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11th Annual Taste of Pinecrest

top-event-finalIf you live or are if your going to be in the Pinecrest & Falls  area today April 7, 2013 come on our and enjoy the 11th Annual Taste of Pinecrest at the YMCA South Dade Family Branch. Come and sample the local fair amd enjoy South Florida’s finest food trucks. You can bring the entire family and enjoy a full carnival, activities & interactive art for kids, the main stage with local bands & student performances and wellness and busines expo.  The location of the event is 9355 SW 134 ST Miami, FL. 33176.

The 11th annual Taste of Pinecrest is being hosted at the newly renovated YMCA. There are all new activities and entertainment with the focus on food! This event will celebrate the new Falls Corridor and include the surrounding community as guests, vendors and participants. Taking place Sunday, April 7th from 11am to 6pm, this event will feature top-notch chefs, professional entertainers, interactive demonstrations, food tastings, a business expo and a major community cook-off. We will offer plenty of free activities for children of all ages indoors and out.

Too many young people don’t experience the kind of opportunities for growth, leadership and a sense of community that come from being part of the Y. Every year we raise scholarship dollars to ensure that no child is turned away from camp, youth sports, and other essential programs that positively impact children’s growth and development. As a leading nonprofit for youth development, healthy living and social responsibility, the Y uses your gift to make a meaningful, enduring impact right in your own neighborhood. One-hundred percent of the net proceeds from Taste of Pinecrest will be invested in the Y’s scholarship fund  – none will go to overhead, staffing, or operational expenses. The $30,000 we hope to raise will enable 400 children in our community who wouldn’t otherwise be able to participate in youth sports or camp to learn teamwork, stay active and safe, make friends, and develop life-long memories at the Y. When you give to the Y, you strengthen our community and move us all forward by investing in our future

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Fannie’s Record Profit a Symbol of Housing Rebound

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Fannie’s Record Profit a Symbol of Housing Rebound

Home prices are up. Foreclosures are down. Construction is up. And now comes the latest sign of the U.S. home market’s revival… Fannie Mae the mortgage giant that nearly collapsed five years ago has earned its biggest yearly profit ever. Fannie Mae earned $17.2 billion last year and said Tuesday that it expects to stay profitable for the “forseeable future.” It also paid $11.6 billion in dividends to the U.S. Tresury in 2012. It was the company’s first yearly gain since 2006, before the implosion in the  housing market necessitated multibillion-dollar bailouts of both Fannie  Mae and fellow taxpayer-backed housing finance company Freddie  Mac in 2008. Freddie Mac reported  a 2012 annual profit of $11 billion in February.

Fannie’s Record Profit a Symbol of Housing Rebound

Fannie Mae and Freddie Mac are  responsible for nearly 31 million mortgages, or about half of all home loans in  America. Together, the two mortgage giants received a total of $187.5 billion in bailout funds from the Treasury  Department, which has recovered more than $60 billion from dividend  payments. In 2012, Fannie Mae paid the government $11.6 billion in dividends.

Fannie’s Record Profit a Symbol of Housing Rebound

But the two mortgage giants appear to be on the rebound. For the fourth  quarter, Fannie Mae  reported another record high profit of $7.6 billion from October through  December. Fannie Mae  benefited from an improved housing market last year. It saw home prices go up,  while mortgage delinquencies declined.

The 2012 profit stands in sharp contrast to the company’s previous six years. Fannie Mae posted  cumulative losses of $146 billion between 2007 and 2010, capped by a nearly $72  billion loss in 2009, when the housing bubble burst. That’s a total of nearly $150 billion lost to bad loans over the last half  decade. But the government came to the rescue,  dishing out billions to save these two mortgage giants.

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Miami Home Prices could jump 10% in 2013

Miami Home Prices forecast for 2013 are on the rise.

J.P. Morgan Chase & Co. expects U.S. home prices to rise 3.4% in its base-case estimate and up to 9.7% in its most bullish scenario of economic growth. Standard & Poor’s, which rates private-issue mortgage bonds, on Friday said it expects a 5% rise in 2013. The J.P. Morgan analysts boosted their base-case estimate from 1.5% after a convincing rise in the “net demand” for housing this year has surpassed 2 million homes for the first time since 2006, said John Sim, a strategist at the investment bank. Net demand is the pace of existing home sales minus the inventory of homes available for sale.

So if you are looking to BUY now is the time to act and take advantage of historically low interest rates and homes that may be more expensive in the coming months.

 

Miami Foreclosures Halted for the Holidays

Who said the Big Honcho’s over at Bank or America, Fannie Mae & Freddie Mac don’t have a heart think again… BofA, Fannie, and Freddie are 3 of  the largest Mortgage Note holders in the Nation. And they all have agree to halt foreclosures during the Holiday season which is good news for those facing foreclosure. But rest assured even though most will avioid the “GRINCH”  ruining Christmas this year as soon as the New Year is upon us “EBENEZER SCROOGE” himself will be back at work and trying to foreclose Quick, Fast, and in a Hurry!

For More info on Foreclosures being halted for Holidays  please CLICK HERE

If you are facing foreclosure and want to know your options please navigate our site or feel free to contact me directly and i’ll be glad to offer any and all real estate advice as it relates to foreclosure. You have viable options! But if you don’t explore them then you are accepting the worse case scenario.

Always feel free to contact me for the latest and greateat in all Miami Real Estate News

Miami Mortgage Rates fall to RECORD LOWS!

In case you haven’t heard… Mortgage Rates have fallen to Record Lows! Which means “Tis the Season to Buy or Re-Finance your home”. Money has never been so cheap to borrow so if your thinking about it now is the time! For additional info on today’s record low rates please visit CNNMoney.com  

Or if you would like to Apply and get pre-approved for a Miami Home Loan please click on the tab above titled “BUY” and scroll down to “APPLY FOR A LOAN” and we can have you fully pre-approved quick, fast, and in a hurry!

Need a Credit Score Boost

I have clients ask me all the time “Gordon, I pay all of my credit card accounts on time and have never been late… So why then are my credit scores not improving?”

One of the many factors effecting a persons credit score is their amount of outstanding revolving credit card debt. To maximize their credit score potential, paying down credit card debt to 30% of the credit limit will boost a customers credit score.

So lets say a customer uses their credit cards for monthly expenses and then pays them down regularly.  Well, if the lender pulling their score for a loan checks their reports when the balances are above 30% then the credit score will be much lower then what it should be.  Potentially increasing their interest rate or denying their loan!

So for ex… If you have a credit card with a $1,000 credit limit and you always pay it every month on time but your balance is always above 30% of the credit limit or in this case $300. That will adversely affect your credit score and keep it from going up which is what we all want to accomplish! Better the credit, Better the rate, Better the deal, Better the LIFE!!! 

Quick Fix… If you know your about to try and purchase a home and need to obtain financing. And if you are capable try and pay down some or all of your credit accounts to less than 30% of there limit prior to having your credit pulled. This can boost your credit score by 50, 70, even 100 points in some cases.