Andre's Blog

There's a lot more to moving to another state than there is to staying within the same state. Expenses can vary greatly from state to state and even though your new salary is going to be much higher than your old, you could still end up at a loss due to higher living expenses.

When moving to another state, some of the things you should do thorough research on school systems, salary, housing and the like. Pay attention to the tax structure in the state you are relocating to - how much is the income tax? Do they have a sales tax? What is the property tax rate? All these things can have a major impact on your budget and should be carefully considered before relocating.

Once you have decided that your relocation is a good move for your family, you'll need to plan the details of getting from here to there. Do you have a house to sell? Then you need to consider whether you will sell it "by owner" or use a real estate professional. In order to sell your house fast and get the best price, you might want to look at it with an unbiased eye to see what improvements should be made. Remember that curb appeal is very important as is the impression the potential buyer gets when he first walks in and the look of the kitchen and bathrooms.

Of course, you will need to find suitable housing in the new state. You should plan a couple of trips out to look for new houses with a Realtor. In some cases, if working with a full service Realtor, your Realtor can make your move a lot more easier by handling the transition from A-Z, including working with a Realtor in your former location to assist in the sale of your house.  If you are not sure whether the move will be permanent, consider renting a house for the first year. That way if you don't want to stay it will be easier to pick up and leave.

Last, but not least, you need to plan the move itself. Will you be using movers? Will they be packing up all your stuff or will you pack and they just haul it to the truck? It's not a bad idea to get organized with a moving checklist. Start your checklist a month or more before the move and keep adding to it as you think of things. Here's a short list to start you off:

- Buy boxes or rent crates and get packing material
- Pack items you do not need for everyday use like knick knacks and decorative items
- Arrange for a House inspection (for both the new and old houses)
- Gather pay stubs and other records for loan
- Arrange for utility shut off / reconnect for phones, lights and gas
- Change address on checks and business cards
- Finalize with movers
- Schedule move out cleaning

When it comes to choosing professionals to assist you with your real estate needs...Experience is Priceless! Andre' Shambley & Miami's Best REALTOR®. Team, The Keyes Company, 305-788-6643.  AndreShambley@Keyes.com,  http://www.OnePlaceOpenHouse.com     Ready to refinance or looking for a better rate?  For your complimentary rate quote visit Jacinta Shambley, APEX Lending, Inc. JShambley@APEXLending.com . http://www.JShambley.ApexLending.com      

Mortgage rates are down to rates we have no seen in 50 years. Since the early 1970s when we have good data for mortgage rates these are the lowest rates we have seen.

1) December 2008 5.19
2) June 2003 5.23
3) March 2004 5.45
4) May 2003 5.48

Before this rates were at current levels in the late 1950s. Here are rates for the last few weeks.

December 18, 2008
30-yr 5.19 15-yr 4.92 5-yr ARM 5.60 1-yr ARM 4.94

December 11, 2008
30-yr 5.47 15-yr 5.20 5-yr ARM 5.82 1-yr ARM 5.09

December 4, 2008
30-yr 5.53 15-yr 5.33 5-yr ARM 5.77 1-yr ARM 5.02

November 26, 2008
30-yr 5.97 15-yr 5.74 5-yr ARM 5.86 1-yr ARM 5.18

November 20, 2008
30-yr 6.04 15-yr 5.73 5-yr ARM 5.87 1-yr ARM 5.29

A few things to point out, first Arms are still basically pointless. The 5 Year Arm is at 5.6 which is well above the 5.19 offered for a 30 year rate. With 1 Year Arms (at 4.94) and 15 year fixed (at 4.92) offering little savings the 30 year mortgage is pretty much king. There is almost no reason in this market to consider other mortgage products.

I want to be clear about a few things. First although rates are low they are not universally available. In 2002/2003 when rates where low they were available to everyone and they were available for people interested in single family homes as well as investors. Today low interest rates are pretty much only available to people that want to buy single family homes to live in. Investors who plan to rent out properties will receive much high rates. Also loans are really only available to people that can document their income. The limited availability of current rates is one of the reasons that the low rates are not doing more to help the current problems in the market.

So in addition to looking at rates lets look at actual payments. Using our mortgage calculator widget lets take today's rates and translate them into a payment on a 200k loan. To add some perspective we did the same thing using mortgage rates from a week ago and rates from the end of October.

December 18th
30-yr $1096.98
15-yr $1573.26
5-yr ARM $1148.15
1-yr ARM $1066.32

December 11th
30-yr $1131.81
15-yr $1602.50
5-yr ARM $1176.05
1-yr ARM $1084.67

October 30th
30-yr $1258.87
15-yr $1708.31
5-yr ARM $1245.77
1-yr ARM $1120.56

Looking at October 30th we see pretty substantial savings. For a 200k loan the payment would be $161.89 less a month or 14.7 percent less. Arms and 15 year rates are down as well but in the current market these products are pretty much pointless. Basically it's not worth saving a few dollars a month to get a 1 Year ARM and not getting a 30 year rate at historical lows.

So what are rates going to do moving forward? There is talk of the FED having a 4.5% mortgage for new home buyers. It's hard to know if this will end up happening. My advice for people thinking of refinancing is to do so now. Most of the talk I have seen is the 4.5% rate will only apply to new purchases and will not be available for people looking to refinance.

For new buyers it's a little tougher. Personally I think it's not worth it to wait and risk rates jumping up. If rates were at 5.7 it might be worth it to wait for the 4.5 rate. But with people getting mortgages near 5% I don't think it's worth it to wait for the government to pass legislation. Partly because even if the legislation is passed the 4.5 rate could have several strings attached.

So what is going to happen with rates this week? I don't know if they are going to go up or down but there is still a lot of volatility in the market. So I would not be surprised by a large jump up or down with rates similar to what we have been seeing for the last several weeks.

Ready to refinance or looking for a better rate? For your complimentary rate quote visit Jacinta Shambley, APEX Lending, Inc. JShambley@APEXLending.com . http://www.JShambley.ApexLending.com

When it comes to choosing professionals to assist you with your real estate needs...Experience is Priceless! Andre' Shambley & Miami's Best REALTOR®. Team, The Keyes Company, 305-788-6643. AndreShambley@Keyes.com, http://www.OnePlaceOpenHouse.com

If you happen to be shopping around for a mortgage, it is very important that you first take the necessary time to do your homework.

When I say homework, I am talking about research. There are so many loan programs out there that it is easy to get lost in all of the mortgage jargon that people in the industry love to use on you. Not to mention of all of the paperwork.

By the time you get to the table, you will have a mound of paperwork approximately six inches high filled with words and terms that most people in the business don't even understand.

The mortgage industry is filled with all kinds of pitfalls that you can find yourself sitting in. This is why taking your time and doing research is key to purchasing a home. Research can literally save you thousands of dollars in closing costs and interest charges. So don't rush into it!

For starters you will want to contact a Realtor and a lender.

When choosing a Realtor, ask lots of questions. Make sure they know their area market and can help you meet your objectives as a home buyer.

There are many ways to choose a lender, but for starters, here are just a few ideas to get you started.

The traditional way would be to walk into your neighborhood bank and speak with a loan officer. If you don't like that idea, you might consider filling out an on-line application (www.JShambley.ApexLending.com).

A mortgage broker will evaluate your situation for you, and then shop around for a lender with the best program or rate, or both.

Remember, just because you have a Realtor and a loan officer doesn't mean you should stop doing your research. At this point in the game, you should be doing even more research. This way you will have an understanding as to what your Realtor and loan officer are talking about when they start speaking their language.

You will also want to find out what your credit score is. Most likely your loan officer will do this for you. Your credit history plays a large role in the loan approval process, and it will also affect your interest rate.

If you already know that your credit is a little bit challenged, than you might want to start out using a broker. Most brokers work with about two hundred lenders, so they would be your best bet as far as finding the best rate and term, as well as, a bank that deals with challenged credit.

When you are purchasing a home, you will hear things such as debt to income, appraisal, and loan to value. I'm sure you may have heard these terms in the past, but do you know what they mean, I mean, do you really know what they mean? Inside and out.

I cannot stress enough the importance of doing research before buying a home. It is such a vital component when it comes to saving money. Use the internet, use the library, and most of all, use your Realtor and loan officer. Ask them as many questions as you possibly can, learn from them!

Your home will most likely be the largest financial transaction you will ever make, so when you come to making your decision, make sure it is an educated one. Good luck!


Interested in buying, selling or renting a home, condo, or townhouse, visit me at: http://www.OnePlaceOpenHouse.com


Ready to refinance or looking for a better rate? For your complimentary rate quote visit: http://www.JShambley.ApexLending.com

There are many real estate market forecasts and predictions available - however the bottom line is that if you want to buy your first home there is no wrong time. This is because the motivation to buy is not determined by regional market conditions or by location, but rather by your personal needs.

Industry opinions, economic reports, and investor speculation do not sway or predict when a particular individual will be ready to buy.

For the majority of people, the most compelling reasons to buy a home are based on individual circumstances and personal needs. Some of these factors are:

• Family needs and desires for children/parents/in-laws/couples
  
  
• Convenience to home, work, school, social activities
  
  
• New work situation
  
  
• Sense of achievement or fulfillment
  
  
• Freedom and independence
  
  
• Sense of security and privacy

Even though there are many changes in the market, both up and down, people still need and want to buy homes. This desire to buy a home is deeply rooted in the fabric of our national consciousness. The intrinsic value of homeownership defined as worth based on perception of value--gives far more satisfaction than ROI calculators can quantify.

Today, there are many different loan programs with flexible terms to fit all buyers. There are city and county down payment assistance programs to assist in buying a home. There are condos and manufactured homes to close the affordability gap. For future buyers with blemished credit, there are many debt reduction and counseling programs to help gain a fresh start.

How do you make the leap to become a homeowner? First, you must determine that you want to buy a home. Sounds simple, yet many people find that getting started is the hardest part. There are perceived obstacles in the minds of many would-be homeowners: Do we have enough money for the down payment? How can we get out of our current lease? Where can we afford to live? The goal is home ownership, and there are many steps to reach the goal. You may not be financially ready yet, but you need to ascertain where you are NOW in relation to your goal.

Get your finances in order. Accurately determine your financial situation and check your credit to determine where you fall as borrower. Look at all of your available assets for your down payment and examine all of the finance options available to you. If you have some credit blemishes, take the time to make timely payments to your creditors to present the best financial picture to your home lender. Make sure that you have a track record of stability in your employment history. Postpone any major purchases such as cars, motorcycles, or large appliances until after you close escrow. Your actual home purchase may still be 12-18 months down the road, but you can still prepare for it now.


Get pre-approved for your mortgage. Once you've cleared the financial hurdles, talk to your lender or broker to find out how much you can afford to borrow along with the expected out-of-pocket costs you will need to incur for the closing. This will include the required down payment (if necessary) along with funds for closing costs, which can run 3-4% of the purchase price. Pre-approval also allows you to shop for a home with an accurate price range. If you are buying in a seller's market, you may want to search for homes that are considerably below your approved price range, so that you can have the most room for negotiation.

Find a credible licensed real estate agent. Look for an agent that can work with you based on YOUR needs and your schedule. Check references of previous clients and make sure that he or she is responsive and available to you. You may not know exactly what you want in terms of a new home, and your agent should work with you to determine your needs and help you find a property that meets your immediate and future needs. Your agent should be familiar with the area where you plan to move.

Become an informed and practical buyer. Once you determine where you would like to live, determine what factors are most important for your family. Calculate your new commute time and research school information for your children. You may want to consider the proximity to a place of worship and shopping in the area. Make sure to evaluate the surrounding factors that are most important to you, along with factors that are least important.

Find a home that works for you. Check out the floorplan to make sure that it meets your needs. Envision yourself along with your family, living in the home. What are the key points of consideration for your home? If you spend a lot of time in the kitchen, then you want to make sure that the kitchen can accommodate your habits. If you will be working from home, make sure that your home office setup will work. Make sure that all of your telecommunications and electrical needs can be met. Is the backyard adequate for your family? Do you need a garage? Are you willing to make major repairs to the home? Does the style reflect your taste? Can the home grow with you over the next 5 years, 10 years or 30 years?

Make the offer. Once you have located a property that meets your needs, make an offer based on the listing price, along with comparables information and market considerations. Your agent can work with you to determine the best price, along with any contingencies for the sale. Some strong purchase offers include:

• Short contingency removal periods
  
  
• Short escrow periods
  
  
• Increased cash deposit
  
  
• Love letter from buyer
  
  
• Pre-approved letter from lender guarantee for purchase price

It is good to get an independent home inspection, so that you can know what the potential pitfalls and future maintenance needs may be. Your offer may be accepted as-is; you may face a counter-offer from the seller, or you may be rejected. In a seller's market, you may find yourself bidding with several other buyers for a single piece of property. Work with your real estate agent to determine what is customary in your area. This is when his/her negotiation skills really come in handy!

Once your offer has been accepted, you will enter an escrow period, where all of the title research will be handled, funding requirements met; tax and title transfer paperwork managed. Prior to the close of escrow, you will sign all of your finance paperwork, and pay your remaining deposit and closing fees. After funding is complete, the title company will record the new purchase deed with the County Recorder's office, and you will officially "close".

Congratulations! Now get ready to move! Make sure to connect your new utilities (and disconnect your old service) along with mail forwarding.

Everyone wants someplace to call their own, and whatever your financial picture, there is always a way to purchase a home. The purchase of a home can be a lifelong achievement, but one that is truly a worthy accomplishment.

In America the single largest investment most of us will ever make is the purchase of our home. For many of us our home is our number one asset and is a strong appreciating asset. When you decide that you are ready to make that step into home ownership, you should be happy to know that it is likely one of the most sensible investment decisions you are going to make in your life.

A common question many home buyers have is should they buy a home now with little money down, or should they wait and save up until they can afford what they want. The general answer is that it is always better to purchase a home sooner than later. Rent is money down the drain...Period.   Also the sooner the better because once you purchase your own home you will start to see the potential tax benefits, as well as begin to build your home's equity. You can locate many different first time home buyer loan programs which often require little money down to be approved for a loan.

Another reason that sooner is better than later when it comes to purchasing your own home is because if you aren't very good at saving up your money so far, chances are likely that you will continue to have money saving issues. Saving is something that you have to go out of our way to do, and it takes practice and repetition to get in to the mode where you want to save all of your extra cash.

The best financial decision you can make when it comes to home ownership is to get in as soon as you can, with a home and loan that are suitable for you. You can even start off with a small home and property, but anything is better than wasting your money on rent and basically paying your landlord's mortgage.

Interested in buying, selling or renting a home, condo, or townhouse, visit me at: http://www.OnePlaceOpenHouse.com  

Ready to refinance or looking for a better rate?  For your complimentary rate quote visit: http://www.JShambley.ApexLending.com  

...Golden Beach, one of the most valuable real estate neighborhoods in all of South Florida, known world-wide as an upscale oceanfront estate and single family home community. The majority of homes are valued well in excess of a million dollars. Many well known celebrities and Fortune 500 executives maintain homes here.

Until recently it was impossible to find a home in Golden Beach for under a million dollars.  However due to the recent housing slump even Golden Beach has not been left untouch.  Prospective homebuyers can find amazing deals in Golden Beach for a fraction of what these homes use to cost.  There are currently four homes under a million dollars for sale in Golden Beach and many multi-million dollar homes sitting vacant.  Now that's unbelievable!

This past October Golden Beach began construction on their vision for beautifully landscaped, pedestrian friendly streets.  The project is expected to last nearly 3 years and includes improving Ocean Boulevard with new five-foot sidewalks with concrete pavers and crosswalks, new landscape and lighting as well as 24-hour monitored infrared security system.  The project also calls for installation of new drainage systems and replacement of unsightly overhead utility lines with an underground system providing for a more attractive appearance.  The carefully planned project is being completed half-block at a time.  Improvements to the street include a new sidewalk, expanded driving lanes and new landscaping.  Although there will be some inconveniences the residents of Golden Beach believe it will be well worth it.

I am sure in 3 years Golden Beach will look like a new town and the more polished appearance will only increase Golden Beach's property values.

...put the two together...

Golden Beach is an exclusive ocean front community that sits on 1.8 miles along the northernmost portion of State Road A1A at the Miami-Dade/ Broward County line in South Florida. This small jewel of a town is bounded by the Atlantic Ocean to the East, the Intracoastal Waterway to the West, and the coastal municipalities of Hallandale Beach to the North and Sunny Isles Beach to the South. Nestled in exclusivity and privacy within a short driving distance from the large urban areas of Miami and Ft. Lauderdale, Golden Beach is convenient to fine dining, cultural centers, professional sports venues, and world class shopping centers such as the prestigious Shoppes of Bal Harbour.

Since its incorporation in 1929, Golden Beach has become one of the most desirable places to live in South Florida. This small quiet community has maintained its family lifestyle in a mile-long sanctuary of 370 single-family homes that are mostly located on the Intracoastal and its waterways or directly on the Atlantic Ocean. The Town Charter protects the Town from commercial activity of any kind and forbids the construction of high rise condominiums that saturate so many beach front communities in South Florida. A beautiful mile and one-eighth of private beach with a historic beach Pavilion, 3 parks, and a committed sense of community have attracted talented, discerning residents from all over the world to this idyllic town located only 18 miles from Miami International Airport and 15 miles from Ft. Lauderdale International and Port Everglades.

An elected Mayor and four Council Members govern the Town of Golden Beach, with elections being held every two years. Day to day affairs of the Town are under the leadership of a Town Manager who is appointed by the Town Council. The Council also employs a Town Clerk and a Town Attorney.

The Town provides security through its own Police Department. The Building and Zoning Department, Finance and Administrative Department, and the Public Works Department provide other services.

If Golden Beach estates and single family homes are of interest to you, contact me, Andre' Shambley, Miami' Best REALTOR®. at 305-788-6643 to get on the right path to your Golden Beach dream home!

Interested in buying, selling or renting a home, condo, or townhouse, visit me at: http://www.OnePlaceOpenHouse.com 

Ready to refinance or looking for a better rate?  For your complimentary rate quote visit: http://www.JShambley.ApexLending.com

...Golden Beach, one of the most valuable real estate neighborhoods in all of South Florida, known world-wide as an upscale oceanfront estate and single family home community. The majority of homes are valued well in excess of a million dollars. Many well known celebrities and Fortune 500 executives maintain homes here.

Until recently it was impossible to find a home in Golden Beach for under a million dollars.  However due to the recent housing slump even Golden Beach has not been left untouch.  Prospective homebuyers can find amazing deals in Golden Beach for a fraction of what these homes use to cost.  There are currently four homes under a million dollars for sale in Golden Beach and many multi-million dollar homes sitting vacant.  Now that's unbelievable!

This past October Golden Beach began construction on their vision for beautifully landscaped, pedestrian friendly streets.  The project is expected to last nearly 3 years and includes improving Ocean Boulevard with new five-foot sidewalks with concrete pavers and crosswalks, new landscape and lighting as well as 24-hour monitored infrared security system.  The project also calls for installation of new drainage systems and replacement of unsightly overhead utility lines with an underground system providing for a more attractive appearance.  The carefully planned project is being completed half-block at a time.  Improvements to the street include a new sidewalk, expanded driving lanes and new landscaping.  Although there will be some inconveniences the residents of Golden Beach believe it will be well worth it.

I am sure in 3 years Golden Beach will look like a new town and the more polished appearance will only increase Golden Beach's property values.

...put the two together...

Golden Beach is an exclusive ocean front community that sits on 1.8 miles along the northernmost portion of State Road A1A at the Miami-Dade/ Broward County line in South Florida. This small jewel of a town is bounded by the Atlantic Ocean to the East, the Intracoastal Waterway to the West, and the coastal municipalities of Hallandale Beach to the North and Sunny Isles Beach to the South. Nestled in exclusivity and privacy within a short driving distance from the large urban areas of Miami and Ft. Lauderdale, Golden Beach is convenient to fine dining, cultural centers, professional sports venues, and world class shopping centers such as the prestigious Shoppes of Bal Harbour.

Since its incorporation in 1929, Golden Beach has become one of the most desirable places to live in South Florida. This small quiet community has maintained its family lifestyle in a mile-long sanctuary of 370 single-family homes that are mostly located on the Intracoastal and its waterways or directly on the Atlantic Ocean. The Town Charter protects the Town from commercial activity of any kind and forbids the construction of high rise condominiums that saturate so many beach front communities in South Florida. A beautiful mile and one-eighth of private beach with a historic beach Pavilion, 3 parks, and a committed sense of community have attracted talented, discerning residents from all over the world to this idyllic town located only 18 miles from Miami International Airport and 15 miles from Ft. Lauderdale International and Port Everglades.

An elected Mayor and four Council Members govern the Town of Golden Beach, with elections being held every two years. Day to day affairs of the Town are under the leadership of a Town Manager who is appointed by the Town Council. The Council also employs a Town Clerk and a Town Attorney.

The Town provides security through its own Police Department. The Building and Zoning Department, Finance and Administrative Department, and the Public Works Department provide other services.

If Golden Beach estates and single family homes are of interest to you, contact me, Andre' Shambley, Miami' Best REALTOR®. at 305-788-6643 to get on the right path to your Golden Beach dream home!

The young and lively city of Aventura houses some of South Florida's most sought-after high-class neighborhoods with all its luxurious homes, townhouses and condominiums. Conveniently located between Fort Lauderdale and Miami, this idyllic upscale community is only a few minutes away from airports, shopping centers and restaurants. Accordingly, a growing number of people have taken notice of how convenient it is to live in the area. Along with the rising population of prospective homebuyers, the Aventura real estate market also flourished in an attempt to respond to the increasing demand.

At present, the Aventura real estate industry is undergoing what most Realtors call the "biggest condo construction" boom it has ever experienced. The astonishing array of options have unquestionably drawn people from practically all walks of life-from young professionals, to families of varying sizes.

Aventura Homes

A fine selection of single-family homes and townhouses still exist in Aventura despite the fact that condominium buildings occupy the largest part of its land area. Being a minority in the Aventura real estate scene didn't actually stop them from providing potential buyers with a sizeable array of choices.

Another excellent feature of Aventura homes and condominiums is the 24-hour protection they provide. Guards constantly man the gates to every village in the city. In that way, residents are supplied with a much-needed sense of security.

Aventura Condos

The astounding selection of condo units in Aventura usually necessitates the services of experienced Realtor. The plethora of options range from older buildings near the north end section of Turnberry Golf Course, to the newly constructed, upscale high-rises scattered all over the city. Then again, if a towering abode isn't your thing, you may choose from an assortment of low-rise and mid-rise condominiums as an alternative.

The Aventura real estate market actually offers condos in various shapes and sizes. The views from different high-rise units may also vary based on the location and the direction they're facing. The sundry of vistas include the Atlantic Ocean, Turnberry Golf Course, Intracoastal, Bay and the cityscape. In addition, every single one of the condos is situated within minutes away from the dining and shopping hub of the city. Without a doubt, you wouldn't be able to come across a better standard of living than the one offered by Aventura real estate properties.

At the moment, a vast range of pre-foreclosure bankowned Aventura condos is in fact up for grabs. These residential units bring forward some of the most excellent deals you will ever come across in the Miami-Dade region. On top of that, they also offer the best selections in terms of location and accessibility. Indeed, the Aventura real estate boom is literally changing the face of city while, at the same time, turning it into one of the most desirable places to work and live in.

Interested in buying, selling or renting a condo, townhome or house, visit me at: http://www.OnePlaceOpenHouse.com 

Ready to refinance or looking for a better rate, visit: http://www.JShambley.ApexLending.com