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	<title>EWM Realtors &#187; 2009 &#187; May</title>
	<atom:link href="http://blog.ewm.com/2009/05/feed/" rel="self" type="application/rss+xml" />
	<link>http://blog.ewm.com</link>
	<description>Public Blog</description>
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		<title>The Tower of London&#8230;.</title>
		<link>http://blog.ewm.com/2009/05/31/the-tower-of-london/</link>
		<comments>http://blog.ewm.com/2009/05/31/the-tower-of-london/#comments</comments>
		<pubDate>Mon, 01 Jun 2009 02:31:30 +0000</pubDate>
		<dc:creator>Enrique Bernardo Lara</dc:creator>
				<category><![CDATA[International]]></category>
		<category><![CDATA[Real Estate News]]></category>

		<guid isPermaLink="false">http://blog.ewm.com/?p=21036</guid>
		<description><![CDATA[The Tower of London is a store of great treasure. It’s a fine peace of Real Estate. It has been seat of British government as well as the site of infamous political intrigue. It has housed notorious traitors, virtuous members of court, lions, bears, and ravens. Most famously perhaps, it has been and continues to [...]]]></description>
			<content:encoded><![CDATA[<p class="MsoNormal" style="margin: 0in 0in 0pt"><span style="font-size: small;font-family: Times New Roman">The Tower of London is a store of great treasure. It’s a fine peace of Real Estate. It has been seat of British government as well as the site of infamous political intrigue. It has housed notorious traitors, virtuous members of court, lions, bears, and ravens. Most famously perhaps, it has been and continues to be the repository of Britain’s Crown Jewels. Almost as well known as Her Majesty’s Tower are the Yeoman Warders often call the Beef eaters who guard the fortress. It is an honor and great privilege to serve as Yeoman Warder.</span></p>
<p class="MsoNormal" style="margin: 0in 0in 0pt"><span style="font-size: small;font-family: Times New Roman">Historically, it was also a great opportunity to enrich oneself at the public expense. It seems that a few hundred years ago, when the Tower also served as store for much of Britain’s gold, many of the guards could not resist the temptation to steal occasional gold coins out of the treasury. Of course, if a guard was caught stealing, the guard was summarily dismissed. It seemed impossible though to watch the Beef eaters constantly and make sure they never took anything. To do that would require hiring a second layer of guards and that would be expensive. Historians of the Tower have noted that shortly after this problem emerged, the Crown raised the basic pay of a Yeoman Warder to £7 per year, notably higher then the going market wage of £5 per year. Historians have also noted that to get a job as a Yeoman Warder it was not enough to apply. One also had to pay a big, up-front fee, i.e., any successful applicant had to make a one-time payment right at the start if they were actually hired.</span></p>
<p class="MsoNormal" style="margin: 0in 0in 0pt"><span style="font-size: small;font-family: Times New Roman">Why do you think that the British government decided to pay above market wages to Beef eaters? Why do you think people paid to obtain Beef eater jobs? What other method do you think the British monarchy might have used to achieve these objectives?</span></p>
<p class="MsoNormal" style="margin: 0in 0in 0pt"><span style="font-size: small;font-family: Times New Roman">I will give you my comments in my next weekly blog. Have a wonderful and very productive week.</span></p>
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		<title>Coconut Grove Real Estate Market Remains Steady In May</title>
		<link>http://therealestatecoconut.com/2009/05/31/coconut-grove-real-estate-market-remains-steady-in-may/</link>
		<comments>http://therealestatecoconut.com/2009/05/31/coconut-grove-real-estate-market-remains-steady-in-may/#comments</comments>
		<pubDate>Sun, 31 May 2009 11:43:06 +0000</pubDate>
		<dc:creator>rileysmith</dc:creator>
				<category><![CDATA[Coconut Grove]]></category>
		<category><![CDATA[Real Estate News]]></category>
		<category><![CDATA[South Florida Market Stats]]></category>

		<guid isPermaLink="false">http://therealestatecoconut.com/2009/05/31/coconut-grove-real-estate-market-remains-steady-in-may/</guid>
		<description><![CDATA[Click on the below image to see today&#8217;s video blog.
To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by subscribing here.
]]></description>
			<content:encoded><![CDATA[<p>Click on the below image to see today&#8217;s video blog.</p>
<a href="http://therealestatecoconut.com/2009/05/31/coconut-grove-real-estate-market-remains-steady-in-may/"><em>Click here to view the embedded video.</em></a>
<p>To stay updated with all of the current Coconut Grove real estate information, receive my blog posts directly to your inbox by <a title="Subscribe to Coconut" href="http://www.feedburner.com/fb/a/emailverifySubmit?feedId=2051871" target="_blank"><span style="color: #839a33">subscribing here</span></a>.</p>
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		<title>Permanent Hazardous Waste Collection Centers Near Weston, Fl</title>
		<link>http://mywestonblog.com/2009/05/30/permanent-hazardous-waste-collection-centers-near-weston-fl/</link>
		<comments>http://mywestonblog.com/2009/05/30/permanent-hazardous-waste-collection-centers-near-weston-fl/#comments</comments>
		<pubDate>Sat, 30 May 2009 15:21:30 +0000</pubDate>
		<dc:creator>Ines Garcia</dc:creator>
				<category><![CDATA[Community Information]]></category>
		<category><![CDATA[Real Estate News]]></category>
		<category><![CDATA[Hazardous Waste]]></category>

		<guid isPermaLink="false">http://mywestonblog.com/2009/05/30/permanent-hazardous-waste-collection-centers-near-weston-fl/</guid>
		<description><![CDATA[If you missed (as I did) the special Hazardous Waste Collection on May 17th at Weston, Florida you don&#8217;t have to keep it forever hanging around your backyard or garage.  Broward County has 3 Permanent Places to drop off your hazardous waste.
The Closest to Weston is at 5490 Reese Rd davie, Fl and it opens [...]]]></description>
			<content:encoded><![CDATA[<p>If you missed (as I did) the special Hazardous Waste Collection on May 17th at Weston, Florida you don&#8217;t have to keep it forever hanging around your backyard or garage.  Broward County has <a title="Hazardous Waste-Broward County" href="http://www.broward.org/waste/iwi04300.htm" target="_self">3 Permanent Places</a> to drop off your hazardous waste.</p>
<p>The Closest to Weston is at 5490 Reese Rd davie, Fl and it opens on Saturday Only from 8:00AM to 3:00PM<br />
<a href="http://maps.google.com/maps?f=q&amp;source=embed&amp;hl=en&amp;geocode=&amp;q=5490+Reese+Road,+Davie,+FL&amp;sll=37.370157,-95.712891&amp;sspn=31.672689,54.667969&amp;ie=UTF8&amp;ll=26.098567,-80.228434&amp;spn=0.023124,0.025749&amp;z=14">View Larger Map</a></p>
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		<title>May 30th, 10am-6pm “The Children’s Trust Family Expo! Fun for the Whole Family.”</title>
		<link>http://blog.ewm.com/2009/05/30/may-30th-10am-6pm-%e2%80%9cthe-children%e2%80%99s-trust-family-expo-fun-for-the-whole-family%e2%80%9d/</link>
		<comments>http://blog.ewm.com/2009/05/30/may-30th-10am-6pm-%e2%80%9cthe-children%e2%80%99s-trust-family-expo-fun-for-the-whole-family%e2%80%9d/#comments</comments>
		<pubDate>Sat, 30 May 2009 16:59:58 +0000</pubDate>
		<dc:creator>Maria Christina Lapinig</dc:creator>
				<category><![CDATA[Community Events]]></category>
		<category><![CDATA[Just For Fun]]></category>
		<category><![CDATA[Real Estate News]]></category>

		<guid isPermaLink="false">http://blog.ewm.com/?p=21023</guid>
		<description><![CDATA[The Children’s Trust Family Expo is a day-long a family festival at the Miami-Dade Fair and Expo Center(Coral Way &#38; SW 112 Ave.) from 10:00AM-6:00PM. They are expecting 30,000 people to attend.
Here are some of the fun-filled family activities:  face painters, clowns, stilt walkers, magicians, storytellers, arts &#38; crafts, bounce houses, rock climbing walls, music [...]]]></description>
			<content:encoded><![CDATA[<p>The Children’s Trust Family Expo is a day-long a family festival at the Miami-Dade Fair and Expo Center(Coral Way &amp; SW 112 Ave.) from 10:00AM-6:00PM. They are expecting 30,000 people to attend.</p>
<p>Here are some of the fun-filled family activities:  face painters, clowns, stilt walkers, magicians, storytellers, arts &amp; crafts, bounce houses, rock climbing walls, music and dance performances, workshops and classes for parents, child fingerprinting, injury prevention, programs for children with special needs, Pre-K registration, KidCare outreach, vaccination information, after-school programs, child seat safety demonstrations and puppet shows.</p>
<p>Nickelodeon and PBS characters will make appearances, i.e. Sponge Bob Square Pants, Dora and Diego, Clifford the Big Red Dog, Arthur and Alpha Pit will be on site greeting and talking to children, mobile units offering community services and much more.</p>
<p><img src="http://www.thechildrenstrust.org/images/stories/news/events/expo09/2009_Family_Expo_Flyer_v2.jpg" alt="The Children's Trust Family Expo" /></p>
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		<title>Did You Miss The Deadline to File Your 2009 Homestead Exemption?</title>
		<link>http://blog.ewm.com/2009/05/29/did-you-miss-the-deadline-to-file-your-2009-homestead-exemption/</link>
		<comments>http://blog.ewm.com/2009/05/29/did-you-miss-the-deadline-to-file-your-2009-homestead-exemption/#comments</comments>
		<pubDate>Fri, 29 May 2009 19:58:37 +0000</pubDate>
		<dc:creator>Debra Spadafora</dc:creator>
				<category><![CDATA[Community Information]]></category>
		<category><![CDATA[Real Estate News]]></category>

		<guid isPermaLink="false">http://blog.ewm.com/?p=20980</guid>
		<description><![CDATA[Did you miss the opportunity to file your Homestead Exemption, if so, all is not lost.  You have until August 31, to file a late 2009 application.  After you file your late application, you are required to file a petition with the Value Adjustment Board and pay a $15 non-refundable petition fee.

If you owned and resided on [...]]]></description>
			<content:encoded><![CDATA[<p><span style="font-size: 10pt;color: black;font-family: Arial">Did you miss the opportunity to file your Homestead Exemption, if so, all is not lost.  You have until August 31, to file a late 2009 application.  After you file your late application, you are required to file a petition with the Value Adjustment Board and pay a $15 non-refundable petition fee.</span></p>
<p class="MsoNormal" style="margin: 0in 0in 0pt">
<p class="MsoNormal" style="margin: 0in 0in 0pt"><span style="font-size: 10pt;color: black;font-family: Arial">If you owned and resided on your property as of January 1, 2009, please visit the Property Appraiser&#8217;s Downtown Miami or Cutler Bay office to file your late application.   Late Exemption applications are accepted for:</span></p>
<ul type="disc">
<li class="MsoNormal"><span style="font-size: small;font-family: Times New Roman">Homestead</span><span style="font-size: 9pt;font-family: Arial"> </span></li>
<li class="MsoNormal"><span style="font-size: small;font-family: Times New Roman">Assessment Transfer Difference (A/K/A Portability)</span><span style="font-size: 9pt;font-family: Arial"> </span></li>
<li class="MsoNormal"><span style="font-size: small;font-family: Times New Roman">Limited Income Seniors</span><span style="font-size: 9pt;font-family: Arial"> </span></li>
<li class="MsoNormal"><span style="font-size: small;font-family: Times New Roman">Widows and Widowers</span><span style="font-size: 9pt;font-family: Arial"> </span></li>
<li class="MsoNormal"><span style="font-size: small;font-family: Times New Roman"> </span><span style="font-size: 10pt;font-family: Arial">Various Disability Exemptions</span><span style="font-size: 9pt;font-family: Arial"> </span></li>
</ul>
<p class="MsoNormal"><span style="font-size: 9pt;font-family: Arial"><span style="font-size: 10pt;color: black;font-family: Arial"><a href="http://www.miamidade.gov/PA/"><span style="font-size: x-small;font-family: Arial">Click here </span></a><span style="font-size: x-small;font-family: Arial">for more information</span></span></span></p>
<p class="MsoNormal">
<p class="MsoNormal" style="margin: 0in 0in 0pt;text-align: justify">
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		<title>Commercial Property Owners Can Help Ensure Accuracy of 2009 Assessments</title>
		<link>http://blog.ewm.com/2009/05/29/commercial-property-owners-can-help-ensure-accuracy-of-2009-assessments/</link>
		<comments>http://blog.ewm.com/2009/05/29/commercial-property-owners-can-help-ensure-accuracy-of-2009-assessments/#comments</comments>
		<pubDate>Fri, 29 May 2009 17:44:50 +0000</pubDate>
		<dc:creator>Debra Spadafora</dc:creator>
				<category><![CDATA[Commercial]]></category>
		<category><![CDATA[Real Estate News]]></category>

		<guid isPermaLink="false">http://blog.ewm.com/?p=20969</guid>
		<description><![CDATA[Pedro Garcia, Miami-Dade County’s Property Appraiser, is asking for you help.  The Property Appraisers Office is currently developing the January 1, 2009 assessed values.  They understand that these are extraordinarily-challenging times for commercial property owners.
The economic downturn is having a negative impact on local businesses and real estate values. Against this background, it is even more important [...]]]></description>
			<content:encoded><![CDATA[<p>Pedro Garcia, Miami-Dade County’s Property Appraiser, is asking for you help.  The Property Appraisers Office is currently developing the January 1, 2009 assessed values.  They understand that these are extraordinarily-challenging times for commercial property owners.</p>
<p>The economic downturn is having a negative impact on local businesses and real estate values. Against this background, it is even more important that they develop accurate property values.</p>
<p>Therefore they are asking for your input in the valuation process as it relates to the most current income and expense data available for your property. This data will be analyzed, interpreted and become part of their market studies. A letter was sent to all commercial property owners.</p>
<p>To insure  they determine the most accurate assessments possible, please forward the following documents:</p>
<ol style="margin-top: 0in" type="1">
<li class="MsoNormal"><span style="font-size: small"><span style="font-family: Times New Roman">A statement on the performance of your property, including how the first quarter of 2009 compares with the first quarter of 2008. Please include vacancies, concessions, rents, terms, physical condition, leasable area, unit counts, etc.</span></span></li>
<li class="MsoNormal"><span style="font-size: small"><span style="font-family: Times New Roman">Rent Roll on or about January 1, 2009.</span></span></li>
<li class="MsoNormal"><span style="font-size: small"><span style="font-family: Times New Roman">Your latest Federal Income Tax Return filed with the IRS.</span></span></li>
<li class="MsoNormal"><span style="font-size: small"><span style="font-family: Times New Roman">Certified year ending operating statements, including gross rents and expenses.</span></span></li>
<li class="MsoNormal"><span style="font-size: small;font-family: Times New Roman">Appraisals, listings, closing statements, contracts for sale and lease details.</span></li>
</ol>
<p>Please note that financial information received by the Property Appraiser&#8217;s office is confidential, as required by Section 195.027, Florida Statutes, and Florida Department of Revenue Rule 12D-1.05.</p>
<p class="MsoNormal" style="margin: 0in 0in 0pt;text-align: center"><span style="font-size: small"><span style="font-family: Times New Roman">Mail all documents to:</span></span></p>
<p class="MsoNormal" style="margin: 0in 0in 0pt;text-align: center"><span style="font-size: small;font-family: Times New Roman">Office of the Property Appraiser</span></p>
<p class="MsoNormal" style="margin: 0in 0in 0pt;text-align: center"><span style="font-size: small;font-family: Times New Roman">P. O. Box 01-9966</span></p>
<p class="MsoNormal" style="margin: 0in 0in 0pt;text-align: center"><span style="font-size: small"><span style="font-family: Times New Roman">Miami, FL 33101-9966.</span></span></p>
<p>If your property is entirely owner occupied, please provide estimates of market value or appraisals obtained within the last year. If you have questions regarding this request, please call the Property Appraiser&#8217;s Office at 786-331-5321.</p>
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		<title>This Week In Coconut Grove Real Estate</title>
		<link>http://therealestatecoconut.com /2009/05/29/this-week-in-coconut-grove-real-estate/</link>
		<comments>http://therealestatecoconut.com /2009/05/29/this-week-in-coconut-grove-real-estate/#comments</comments>
		<pubDate>Fri, 29 May 2009 08:12:22 +0000</pubDate>
		<dc:creator>rileysmith</dc:creator>
				<category><![CDATA[Coconut Grove]]></category>
		<category><![CDATA[Real Estate News]]></category>
		<category><![CDATA[South Florida Market Stats]]></category>

		<guid isPermaLink="false">http://therealestatecoconut.com/2009/05/29/this-week-in-coconut-grove-real-estate/</guid>
		<description><![CDATA[
3 Coconut Grove Foreclosures Got Snapped Up This Week
There were 3 foreclosures to go under contract this week in Coconut Grove.  The first is 1835 Opechee Drive priced at $612,500, which I wrote about last week in a post titled &#8220;1835 Opechee, Is It Worth It?&#8221;.  The house has been in and out of contract several times [...]]]></description>
			<content:encoded><![CDATA[<h5 style="text-align: center"><img class="alignnone size-full wp-image-2933" src="http://therealestatecoconut.com/files/2009/05/lamp-post-coconut-grove.jpg" alt="Coconut Grove Lamp Post" width="222" height="321" /></h5>
<h5>3 Coconut Grove Foreclosures Got Snapped Up This Week</h5>
<p>There were 3 foreclosures to go under contract this week in Coconut Grove.  The first is 1835 Opechee Drive priced at $612,500, which I wrote about last week in a post titled &#8220;<a title="1835 Opechee Drive" href="http://therealestatecoconut.com/2009/05/24/is-it-worth-it-1835-opechee-drive/" target="_blank">1835 Opechee, Is It Worth It</a>?&#8221;.  The house has been in and out of contract several times over the past few months.   The second was 4243 Lennox Drive priced at $549,900.  The third was 4365 Ingraham Highway priced at $365,900.   All three of the above homes were in poor condition and needed significant repairs.</p>
<h5>$100,000 Price Reduction On Barbarossa Avenue</h5>
<p>In a willingness to stay competitively priced and in light of the <a title="Irvington Avenue" href="http://therealestatecoconut.com/2009/05/24/pending-sale-will-help-set-the-market-for-new-construction/" target="_blank">pending sale on Irvington Avenue</a>,  my client at 4054 Barbarossa Avenue has reduced his price by $100,000 and is now listed at $1,395,000.  In my opinion, Barbarossa is the best new construction house in the South Grove.   You can see pictures and details of the home <a title="4054 Barbarossa Avenue" href="http://idx.diversesolutions.com/search/1064/13#PropertyID=14271538" target="_blank">here</a>.  Now priced at $303.00 per square foot, this house is a great value.</p>
<h5>5 Coconut Grove Townhouses Sold In May</h5>
<p>The Center Grove has been particularly active this month thanks in part to myself and Berk Boge.  Together we sold 2 of the 5 townhouses that closed in May.  The other 3 townhouses that sold were foreclosures.</p>
<h5>If you are looking to buy or sell real estate in Coconut Grove, I would be happy to assist you in your real estate needs.  Please give me a call at 305.342.1623 or send me a <a title="Contact Riley Smith" href="http://therealestatecoconut.com/contact/" target="_blank">note here</a>.</h5>
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		<title>Insider Info:  Delightful Waterfront Residence in Hollywood</title>
		<link>http://blog.ewm.com/2009/05/28/insider-info-delightful-waterfront-residence-in-hollywood/</link>
		<comments>http://blog.ewm.com/2009/05/28/insider-info-delightful-waterfront-residence-in-hollywood/#comments</comments>
		<pubDate>Thu, 28 May 2009 21:05:48 +0000</pubDate>
		<dc:creator>EWM Marketing</dc:creator>
				<category><![CDATA[Front Page]]></category>
		<category><![CDATA[Hollywood]]></category>
		<category><![CDATA[Listings]]></category>
		<category><![CDATA[Real Estate News]]></category>

		<guid isPermaLink="false">http://blog.ewm.com/?p=20882</guid>
		<description><![CDATA[We absolutely love our office space. Everything’s so calm here. People speak in hushed tones, the subtle hues of our ergonomically correct desks quietly complement our neutral walls.  … zzzzzzzzzzz … cough, cough …. Oh, dear – we drifted off for a second there. How embarrassing! What the EWM Marketing team needs is a space [...]]]></description>
			<content:encoded><![CDATA[<p>We absolutely love our office space. Everything’s so calm here. People speak in hushed tones, the subtle hues of our ergonomically correct desks quietly complement our neutral walls.  … zzzzzzzzzzz … cough, cough …. Oh, dear – we drifted off for a second there. How embarrassing! What the EWM Marketing team needs is a space as bright and full of life as we are.</p>
<p>Ah  ha – got it!!</p>
<p>We’re totally inspired by the vibrant color of the season. Yes, yes &#8212; South Florida does indeed have seasons.  <img class="size-medium wp-image-20908 alignleft" style="margin-left: 10px;margin-right: 10px" src="http://blog.ewm.com/files/2009/05/royal-poinciana-sm3-300x225.jpg" alt="royal-poinciana-sm3" width="257" height="193" /></p>
<p><span style="color: #ffffff">Just take a look at this brilliant Royal Poinciana in glorious bloom.</span></p>
<p>Just take a look at this brilliant Royal Poinciana tree in glorious bloom.</p>
<p>Magnificent, don&#8217;t you think?</p>
<p style="text-align: left"><span style="color: #ffffff">trying</span></p>
<p style="text-align: left"><span style="color: #ffffff">trying</span></p>
<p style="text-align: left"><span style="color: #ffffff">trying</span></p>
<p>Now look at the study in this beautiful waterfront home.</p>
<p><img class="size-full wp-image-20895 alignleft" style="margin: 10px 0px" src="http://blog.ewm.com/files/2009/05/1485-windjammer-edit.jpg" alt="1485-windjammer-edit" width="467" height="311" /></p>
<p>See the vivid pop-pop-pop of color? It’s absolutely perfect. If we were here, the room itself would encourage us to be creative and artistic, imaginative and alive with all sorts of fabulous ideas. And when we need a break from our work, we would sit out on the dock and watch the boats cruise down the Intracoastal Waterway. When we get hot, we’d jump in the pool. When we get hungry, we’d prepare lunch in the granite and wood kitchen. Or even better, in the summer kitchen outside.</p>
<p>Obviously, the house has already sparked our imagination.</p>
<p>We hereby award the study <span style="color: #990000"><strong>FOUR DOORKNOBS!</strong></span> (Of course, if we were voting for the tree as well, we’d happily give it <span style="color: #006400"><strong>FOUR SEEDLINGS!</strong></span>)</p>
<p><img class="size-full wp-image-20899 alignleft" style="margin: 10px 20px" src="http://blog.ewm.com/files/2009/05/4-doorknobs2.jpg" alt="4-doorknobs2" width="241" height="61" /></p>
<p style="text-align: left"><span style="color: #ffffff">Click the special doorknob below to see the other</span></p>
<p style="text-align: left"><span style="color: #ffffff">Click the special doorknob below to see the other inspiring features of this exciting house.</span></p>
<p style="text-align: left">Click the special doorknob below and let this exciting house inspire you too!</p>
<p><a href="http://ewm.com/property/305801274-1485-windjammer-wy-hollywood" target="_blank"><img class="alignleft size-full wp-image-20900" style="margin-top: 10px;margin-bottom: 10px" src="http://blog.ewm.com/files/2009/05/door-knob-small4.jpg" alt="door-knob-small4" width="56" height="46" /></a></p>
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		<title>Living in South Miami, High Pines &amp; Coral Gables</title>
		<link>http://blog.ewm.com/2009/05/28/living-in-south-miami-high-pines-coral-gables-6/</link>
		<comments>http://blog.ewm.com/2009/05/28/living-in-south-miami-high-pines-coral-gables-6/#comments</comments>
		<pubDate>Thu, 28 May 2009 17:32:52 +0000</pubDate>
		<dc:creator>TK Heatley</dc:creator>
				<category><![CDATA[Coral Gables]]></category>
		<category><![CDATA[High Pines]]></category>
		<category><![CDATA[Listings]]></category>
		<category><![CDATA[Real Estate News]]></category>
		<category><![CDATA[South Miami]]></category>

		<guid isPermaLink="false">http://blog.ewm.com/?p=20876</guid>
		<description><![CDATA[Our listing at 7920 SW 53 Ct in High Pines was just reduced to $599,000&#8230; Move into a large, 2,325 sq.ft. single family home within walking distance to schools and all the amentities of Downtown South Miami &#8230; This  is a hard to find 4 bd/2ba home with a 2 car garage&#8230;Lots of potential in [...]]]></description>
			<content:encoded><![CDATA[<p>Our listing at 7920 SW 53 Ct in High Pines was just reduced to $599,000&#8230; Move into a large, 2,325 sq.ft. single family home within walking distance to schools and all the amentities of Downtown South Miami &#8230; This  is a hard to find 4 bd/2ba home with a 2 car garage&#8230;Lots of potential in this home which features spacious living spaces including a eat in kitchen&#8230;. This is not to be missed&#8230;.</p>
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		<title>Mortgage Rates Jump ~  Should You Lock?</title>
		<link>http://juicyestates.com/2009/05/28/miami-mortgage-rates-jump-should-you-lock-your-rat/</link>
		<comments>http://juicyestates.com/2009/05/28/miami-mortgage-rates-jump-should-you-lock-your-rat/#comments</comments>
		<pubDate>Thu, 28 May 2009 08:00:41 +0000</pubDate>
		<dc:creator>James R Venney CMPS</dc:creator>
				<category><![CDATA[Real Estate News]]></category>

		<guid isPermaLink="false">http://juicyestates.com/2009/05/28/miami-mortgage-rates-jump-should-you-lock-your-rat/</guid>
		<description><![CDATA[In one of the worst days the mortgage backed securities market has ever witnessed the price of the Fannie Mae and Ginnie Mae 4.5% coupons dropped off a cliff pushing mortgage rates to their highest levels since November of 2008.  Many lenders issued 4 or 5 rates sheets during the course of the day with [...]]]></description>
			<content:encoded><![CDATA[<p><img class="alignleft size-medium wp-image-502" title="breaking-news-miami-mortgage" src="http://juicyestates.com/files/2009/04/breaking-news-cropped1-300x267.jpg" alt="breaking-news-miami-mortgage" width="300" height="267" />In one of the worst days the mortgage backed securities market has ever witnessed the price of the Fannie Mae and Ginnie Mae 4.5% coupons dropped off a cliff pushing mortgage rates to their highest levels since November of 2008.  Many lenders issued 4 or 5 rates sheets during the course of the day with each subsequent rate sheet indicating higher rates.  </p>
<p>This melt down may adversely effect the Fed&#8217;s effort to stabilize the housing market by artificially keep mortgage rates low but we need to let the dust settle before panic sets in.  The Fed has at it&#8217;s disposal several tools which it can employ to keep mortgage rates at current levels.</p>
<p>By the end of the day 30 year fixed rates for well qualified buyers were at about 5.25% with no points.  To keep things in perspective prior to the Fed&#8217;s buying program the historic low for 30 year fixed rates was 5.125% so we are still in very good shape. </p>
<p>If you or one of your clients is buying or refinancing a home it will be very important to contact your mortgage banker who should  proactively be managing your rate lock.</p>
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