Miami Metro Residences by Mark Mattsson

PANIC IN THE ECONOMY: IS THE SKY FALLING?

mmattsson — Wed, 17 Aug 2011 14:03:26 +0000

For the last couple of weeks, all we have heard is how bad the current economic situation is. The markets are going to crash and interest rates are going to skyrocket. Panic has definitely engulfed the entire country.

Consumer confidence, as measured by the University of Michigan’s Consumer Sentiment Survey, has fallen to a number not seen in thirty years. This panic has actually had a negative impact on the economy.

It was said best by Mark Zandi, chief economist at Moody’s Economy:

“Confidence normally reflects economic conditions; it doesn’t shape them…

Yet at times, particularly during economic turning points, cause and effect can shift. Sentiment can be so harmed that businesses, consumers and investors freeze up, turning a gloomy outlook into a self-fulfilling prophecy. This is one of those times.”

What does the data actually show?

We decided to look at certain economic indicators and compare them to the numbers from a year ago. Here is what we found:

We are not making the argument that the current numbers are worth celebrating. We are only suggesting that the sky is not falling.

Bottom Line

Conditions aren’t as dire as some are professing. Make good sound financial decisions based on your own economic conditions. There is no need to panic.

(Courtesy of Keeping Current Matters, KCM Blog. I always appreciate their insight!)

SOUTH FLORIDA INVENTORY DECLINING

mmattsson — Tue, 16 Aug 2011 23:34:52 +0000

South Florida residential inventory.

August 16, 2011 03:00PM

Compiled by Condo Vultures Realty using the South Florida Shared Multiple Listing Service. Active listings are properties where no current sale contract exists; pending sales are properties in which a contract for sale has been executed, but not yet closed. Listing brokers control the status of a property listing. — Katherine Clarke

(VIA THE REAL DEAL)

YES, IT REALLY IS THE TIME TO BUY THAT HOME!

mmattsson — Tue, 21 Sep 2010 21:05:29 +0000

“Enough with the doom and gloom about homeownership.” – WSJ 9/16/2010

WOW! If that quote was attributed to the National Association of Realtors or the National Association of Home Builders, it would have been quickly dismissed. However, it was the Wall Street Journal that was calling for the end of the ‘gloom and dome’ talk surrounding real estate.

We are finally seeing a powerful backlash to all the recent claims that homeownership should never have been part of the American Dream. It is about time!

We have been posting on the financial advantages and the other non-financial benefits of homeownership for over a year. We must admit that, at times, we felt very lonely. It now seems that we are part of an ever growing army of believers preaching the advantages and opportunities available in today’s real estate market. Who have joined this cause? Let’s name a few.

The Wall Street Journal

In an article last week, 10 Reasons To Buy a Home, Brett Arends reported:

Sure, maybe there’s more pain to come in the housing market. But when Time magazine starts running covers that declare “Owning a home may no longer make economic sense,” it’s time to say: Enough is enough.

He then posted 10 reasons to buy a home today:

You can get a good deal.
Mortgages are cheap.
You can save on taxes.
It will be yours.
You’ll get a better home.
It offers some inflation protection.
It’s risk capital.
It’s forced savings.
There is a lot to choose from.
Sooner or later, the market will clear.

The Nation’s Real Estate Pricing Expert

Karl E. Case is a professor emeritus of economics at Wellesley. Professor Case is also co-creator of Standard & Poor’s Case-Shiller House Price Index and is recognized as the one of the foremost authorities on real estate today. In a New York Times op-ed piece earlier this month titled, A Dream House After All, he said:

I have never quite understood what the American dream really means when it comes to housing. For some people, it means having a solid and fairly safe long-term investment that is coupled with the satisfaction of owning the house they live in. That dream is still alive.

Others, however, think the American dream is owning property that appreciates by 30 percent a year, making a house into a vehicle for paying bills. But those kinds of dreams have become nightmares for the millions of foreclosed property owners who have found themselves sliding toward bankruptcy.

But for people with a more realistic version of the American dream, buying a house now can make a lot of sense.

The Wealthy

The only segments of the housing market that are showing sales growth are the price points over $1 million. That market is up 6.1 % in the second quarter of this year vs. the second quarter last year. A recent survey showed that over 30% affluent buyers are planning to either build/buy a new primary residence or a second/vacation home in the next twelve months. It appears the wealthy believe now is the time to buy!

Everybody Else

Fannie Mae just released their National Housing Survey. The survey reported:

82% of respondents consider homeownership important to the economy, up two points from January.
70% of respondents think it is a good time to buy a house (of which 36% think it is a very good time to buy), up six points from January. This is also four points higher than the 2003 survey – well before home prices peaked – when 66 % said it was a good time.

Bottom Line

Our iconic financial newspaper, our nation’s real estate pricing expert, the wealthiest people in the country and 70% of everyone else think now is the time to buy a home. It probably makes sense to listen to them.

Please call or click MARK MATTSSON @ 305-764-8959 or MMATTSSON@YAHOO.COM to take advantage of this incredibly opportunistic time to buy your next dream home.

(content courtesy of KCM)

4 IDEAS to Spur New Home Sales

mmattsson — Thu, 09 Sep 2010 13:52:14 +0000

4 Ideas To Spur Home Sales

A new Home Buyer Tax Credit is unlikely. Interest rates can’t go much lower. So, how can a market where buyers who are afraid of losing their jobs begin to digest the massive quantity of current and shadow inventory without another major correction in pricing? Here are four “outside the box” ideas that deserve consideration:

1. Home SELLER Tax Credit!

With homes as affordable as they have ever been, why are we contemplating giving more to the buyer than low prices, amazing selection and low rates? Seems to me we need a way to help sellers. Whether they are underwater or not, why not incent them with a $8000 tax credit beyond any existing incentives available. For some, it will give them money to “start over”; for others, it will enable them to correct their asking price to get their home sold. In short sale scenarios, their current bank needs to approve the price anyway, so, this money won’t negatively impact home values further. Today, sellers need help more than buyers, let’s help them.

2. Make every mortgage assumable (without recourse).

Let buyers buy with minimal closing costs by assuming the existing mortgage at the existing interest rate. (A WIN for a buyer!) In short sale situations (which are really the only time someone would do this), a new appraisal is done and the loan is reduced to 100% of the value. The bank is likely losing principal, but the existing rate is likely higher than they would get on a new loan. (A WIN for the bank because they have a new, qualified borrower at a higher than market interest rate!) The seller can be released of their liability (without any 1099) and potentially without too severely damaging their credit score. (A WIN for the seller!)

3. Reinstate the Down Payment Assistance Program that has been on hold with FHA.

In essence, with this program the seller funds the down payment for the buyer. Previously, a seller would make a gift to a HUD-approved not-for-profit out of the proceeds of the sale. Said not-for-profit would gift monies to a buyer at the closing table to be used for their down payment (keeping a small administrative fee for themselves). The program was suspended because of higher default rates. Industry experts believe that if we install more stringent guidelines on credit scores, income ratios, and/or required reserves, that default rates will be acceptable. Since accumulating cash is a major hurdle for home buyers today, this idea makes sense, and is even more needed with the proposed reduction of seller’s concessions towards the buyer’s closing costs.

4. Have the Fed Buy Mortgage-Backed Securities for Investment Property Loans with only 20% Down Payments at Competitive Rates.

There aren’t enough first-time homebuyers who are secure in their job situation, and qualify for mortgages to buy all the homes we need sold. And now that prices are so attractive, if we can make mortgage rates more affordable and cash needed to close lower for investors, we can attract more potential purchasers to the table.

In order to stabilize prices (and eventually have appreciation again) we need to decrease supply and increase demand. I believe some of these ideas (which likely can be tweaked for improvement by smarter people than me) provides some solutions. But, I’d love to hear what everyone else thinks.

(content courtesy of KCM)

DIRECT OCEAN 2 BED/2BATH SPLIT PLAN IN PRESTIGIOUS GREEN DIAMOND

mmattsson — Fri, 03 Sep 2010 20:18:10 +0000

JUST LISTED ON PRESTIGIOUS MILLIONAIRE’S ROW IN MIAMI BEACH, GREEN DIAMOND’S UNIT 1102 sits at the water’s edge with unobstructed views of the Atlantic Ocean. Open the doors and hear the rush of the water hit the sandy beach. This pristine unit is part of a building with unrelenting luxurious amenities.

1530 SQ FEET**
SPLIT 2 BED/2 BATH**
UPGRADED & OPEN GRANITE KITCHEN**
STAINLESS STEEL APPLIANCES**
NEUTRAL MARBLE FLOORS**
GRAND DOUBLE DOOR ENTRY**
HIGH CEILINGS**
TENNIS COURTS**
GYM/SAUNA/SPAS**
POOL, WITH ATTENDANTS**
CABANAS **
FURNISHED EXCLUSIVE BEACH AREA, WITH ATTENDANTS**
MARKET**CAFE**
CHILDREN’S PLAY ROOMS**
CHILDREN’S PLAY GROUND OUTSIDE**
ALL SET ON ADMIRABLY LUSH LANDSCAPED AND RELAXING GROUNDS.

PLEASE CLICK HERE TO SEE PRICE, MORE PICTURES AND DETAILS OF THE UNIT, MLS# M1415421

CONTACT MARK OR STEVE FOR MORE INFORMATION ON THIS BEACH SIDE PARADISE.

MARK MATTSSON 305-764-8959 OR MMATTSSON@YAHOO.COM

STEVEN SHERMAN 305-610-0179 OR SHERMAN.S@EWM.COM

1440 LUGO AVENUE, CORAL GABLES, FL 33156

mmattsson — Wed, 24 Feb 2010 23:28:39 +0000

In Miami, Florida real estate, there’s only one place like Gables-By-The-Sea.

Located on the beautiful Biscayne Bay, it’s one of South Miami’s pristine neighborhoods. With the finest Pinecrest Schools, it’s an incredible place to raise a family. This 5 bedroom 4 bath house is a prime example of the rambling ranch style homes found here.

4017 sqft
canal front
pool
oak floors
granite/marble
oversized 2 car garage
excellent private and public schools
guard gated neighborhood

This house offers an open informal lifestyle great for casual entertaining for large parties, yet intimate enough for just cozy family nights.

For more information, or to set up a showing for this and or other properties in the Metro Miami area, please call me at 305-764-8959 or email me directly at MMATTSSON@YAHOO.COM

STUNNING CONDO, SOUTH OF 5TH, MIAMI BEACH

mmattsson — Wed, 04 Nov 2009 22:17:36 +0000

Absolutely stunning condo in the location on South Beach: South of Fifth. More specifically, 5th and Alton. Views, designer interior, gorgeous building with loads of amenities directly on Biscayne Bay Waterfront, and only a five minute walk to the beach. This unit can boast it is THE LOWEST PRICED 2B/2B IN ICON THAT IS NOT A SHORT SALE OR FORECLOSURE!!

**1452 sqft of top-of-the-line designer finishes

**split 2bed/2 bath with floor to ceiling windows with bay and ocean views

**Over 42 foot long balcony

**Wenge wood floors

**limestone and marble kitchen & baths

**SubZero & Miele Appliances

**Hunter Douglas window treatments

**California Closets

****please click here to see more photos and the MLS details

****and click here for HD Virtual Tour

Please contact me if you have any interest to see this stellar unit or if you have any questions. Mark Mattsson @ 305-764-8959 or mmattsson@yahoo.com

Condominio de Luxo em South Beach Para Vender

mmattsson — Fri, 11 Sep 2009 13:49:43 +0000

Uma das area mais desejada de Miami Beach chamada South of Fifth se encontra este edificio construido pelo famoso Phillipe Starck-Icon South Beach.

Este apartamento voce tera vista da baia, praia, e cidade. Com 1,452 sq/ft ou 135m2, servicos de spa, 2piscinas com full services, restaurante e muito mais.

O apartamento e de 2 quartos/2banheiros, piso de madeira, cortinas da Hunter Douglas, Miele & SubZero equipamentos na cozinha.

Preco $870,000 e manutencao $1250 por mes que inclui seguro contra inundacao, incendio e furacao.

Clique aqui para video mais informacoes e fotos

Miami Beach Housing Market

mmattsson — Thu, 03 Sep 2009 19:51:24 +0000

The housing market in Miami Beach is definitely improving. I’m sure most real estate agents are still feeling pinched, but if you look at the stats below, it’s plain and simple what’s going on here. Check out what’s going on with the available (for sale), and the sold and pended properties. The % change for closed and pended sales is way up, while the inventory of for sale homes is down over 11%. Things are headed in the right direction.

1 month			1 year			15 months
	June 09	July 09	% Change	July 08	July 09	% Change	May 08	July 09	% Change
For Sale	424	407	-4%	445	407	-8.5%	461	407	-11.7%
Sold	24	21	-12.5%	13	21	61.5%	11	21	90.9%
Pended	28	32	14.3%	11	32	190.9%	17	32	88.2%

Just Listed: Icon, South of 5th, Miami Beach

mmattsson — Mon, 31 Aug 2009 14:51:32 +0000

Of all the fabulous areas in Miami Beach, this condo for sale in the South of 5th area is in THE PRIME location and most prestigious you can get in Miami Beach. Truly one of the most iconic masterpieces to ever ascend on the south Florida real estate skyline, ICON South Beach is arguably one of the greatest luxury condominium residences ever created while being situated on one of the most exclusive, fashionable and desirable neighborhoods in the world.

This distinguished condo: (click here to view more pics and information)

and click here to see an HD Video.

1452 sq ft

2 designer bedrooms

2 premium baths

wenge hard-wood floors

Miele & Sub Zero appliances

California closets and custom built-ins

Hunter Douglas window treatments

Stunning ocean, bay and city views

This Phillipe Starck inspired building offers the most contemporary features such as an ultra-impressive fitness center with spa services, two tropical swimming pools, concierge services with smart-lifestyle technology flawlessly combined with innovative thinking.

The owner will consider selling the residence furnished. A must see to appreciate all of the style and professional charm infused in this beautiful home.

Please call or email me with any inquiries you may have. 305-764-8959 or mmattsson@yahoo.com