According to the Miami Herald “Renters won’t have to leave right away when their landlords’ property is foreclosed”.

Before, many renters booted out of foreclosed homes had to find emergency shelter with family or friends due to the  short notice they received from the landlords’ lender. Additionally, foreclosures automatically terminated leases , this is no longer the case, since tenants will now receive a 90-day notice.

According to Linda Couch,  deputy director at the National Low Income Housing Coalition “This gives renters time to adjust their lives.”

Good News for Renters

Good news indeed.

Mr. Obama asked for every-one’s cooperation in overcoming this difficult time and emphasized this rescue plan is intended for responsible homeowners in trouble, not for real estate speculators and those who obtained loans under false pretenses.

President Barack Obama says “his $75 billion plan to tackle “a crisis unlike any we’ve ever known” in home foreclosures is necessary to help save the economy.

Obama unveiled the plan in Arizona, hard-hit by the housing crunch. More expensive than expected, it aims to keep 9 million people from losing their homes.”

This will not be an easy road but it is one we must take to pull ourselves out of this economic mess.

Please click on the link below to read more about the president’s inspiring speech.

http://news.yahoo.com/s/ap/20090218/ap_on_go_pr_wh/obama_home_foreclosures

As as sit at a computer in Chile not missing a beat and keeping up with the Kardashians and the rest of the world, I came a across the news that singer Erykah Badu  blogged while giving birth, not to be confused with the 20th century saying  “whistle while you work”. Read more about it in the link below.

http://omg.yahoo.com/news/erykah-badu-twitters-third-childs-birth/18358?

I look around here and everywhere I see i-pods, blackberries, .coms in every advertisement and realize the term global is now a reality.  There are no differences in technology in my country of birth,which in my childhood was considered a third world country, and the US.

The financial crisis has hit here as well although not as strongly as it has impacted the US, and the real estate market is beginning to slow down even though construction cranes still are part of the landscape.

I can now stay in touch with everyone, friends, family and clients alike but I don’t see myself “blogging while giving birth”  anytime soon.

The future is definitely here to stay.

The best location at the Southern-most tip of South Beach,  within walking distance to restaurants, clubs and the best South Beach has to offer.  Gate and lobby attendants and concierge provide privacy and security to make the most discerning residents comfortable and safe.

Continuum South is the premier beachfront condominium in Miami Beach, offering a 7,000+ square foot gym/spa, 2 lagoon pools, a delicious restaurant, beach services and accommodations, tennis courts and much more.  Continuum Tower amenities are unparalleled for those looking for quality and enjoyment.

Unit 3804-05 consists of 5,300 square feet, 4 bedroom/4 bath, an expansive wraparound terrace, a living area with 25 foot ceiling , exquisite finishes and impeccable craftsmanship, fine woods, glass walls, steel, granite and imported marble throughout. A dream kitchen, a glassed wine cellar and more.

Last but definitely not least, the ocean views to the East, the North and the South are breathtaking from inside the unit and the terrace, offering the ocean, the beach, Government Cut and the Art Deco district in the heart of South Beach.

Please feel free to contact me anytime should you have any questions, require additional iinformation  or to schedule a private showing.

Welcome to Paradise

We begin 2009 under the worst economic conditions possible.  The stock market, the real estate market and retail sales are sinking fast.  Unemployment is rising throughout the country and businesses are going bankrupt on a daily basis. That’s the bad news.

On the good side, there is a new sheriff in town, assuming his post in less than a week, who has surrounded himself with a capable and prepared economic team. They will all hit the ground running to attempt to correct this mess quickly and efficiently.

Although this is a national malaise, locally there is hope if we can survive the 2009 hangover, we will slowly begin an economic recovery in 2010. The Miami Herald quotes consultant Jack Winston “It’s all about getting through 2009. If you can survive the year, those who are left standing in 2010 will be the nucleus of our real estate industry going forward.”

Savvy buyers are taking advantage of aggressive price-reductions and low-interest mortgage rates to purchase properties throughout South Florida, good deals abound and are beginning to move, thus thinning the enormous inventory, a step in the right direction.

Please feel free to contact me for all your real estate needs.

Large 1-bedroom suite, 1,147 square feet executive suite offering luxurious finishes and furnishings.  2 large terraces with magnificent views of the ocean and Haulover Cut to the Northeast, and Biscayne Bay and downtown Miami to the Southwest.

The Regent at One Bal Harbour offers the outmost quality, with a European-style Guerlain spa and gym to pamper the most demanding guests. 800 feet of beachfront and beach club and inviting swimming pools, a first-class oceanfront, delicious restaurant, and excellent security and concierge services.

The Regent at One Bal Harbour is located just a few blocks from the most fabulous shopping in the Miami Beach area, the Bal Harbour Shops, anchored by Neiman Marcus and Saks 5th Avenue, Carpaccio andLa Goulue restaurants and soon to open Segafredo cafe and bar. Other shops at Bal Harbour include Hermes, Prada, Gucci, Valentino, Cartier, Harry Winston and many more.

Why not explore the possibilities?

Please feel free to contact me anytime.

Elegant finishes, marble floors throughout, offering many upgrades, and inviting terrace with views of Government Cut and the cruise ships, the sparkling ocean/bay and downtown Miami.

The Continuum is located at the tip of South Beach, and offers 2 lagoon pools, a world-class spa/gym/lap pool and beach services, tennis and a delicious restaurant on the premises. The Continuum has fantastic security, with a guarded gate and lobby attendant and concierge services. You can walk to restaurants, shops, clubs and the best South Beach has to offer.

If you are an interested buyer, this is the time to buy and enjoy the upcoming season. Please feel free to contact me should you have any questions or require additional information.

The Hurricanes defeated and dominated Texas A & M, in Texas, by a score of 41-23, in front of a crowded (84,165 Aggie fans) stadium, and won in an showdown by efficient QB Robert Marve, 212 yards and 2 touchdowns,  and an explosive offense.  Tailback Graig Cooper had a career-high 128 rushing yards and touchdown runs of 19 and 51 yards.

The Canes are back and it is on to Dolphin Stadium on Saturday to pounce on North Carolina.

The Miami Dolphins beat the New England Patriots, in New England, by an amazing score of 38-13. Running back  Ronni Brown had a career high of 4 rushing touchdowns, in addition to a left-handed pass to TE Anthony Fasano in the end zone for a touchdown as well. QB Chad Pennington played a perfect game and the Dolphins offense could not be stopped by the Patriots defense.
Trash-talking Joey Porter was right on the money when he threatened to sack the Patriots QB, which he did several times as planned.

The Miami Hurricanes and the Miami Dolphins made us fans proud this weekend, and we hope to have many more weekends like this one. Congratulations are in order to both teams! Thank you from your #1 loyal fan.

This move might also inject new life to the depressed housing market, according to analysts said.  According to Mark Zandi, chief economist for forecaster Moody’s Economy.com “It should bring mortgage rates down, because Fannie and Freddie are now (after the takeover) like Treasury debt”.

Mr. Zandi was quoted in the  Miami Herald, saying  ”Rates on a 30-year fixed mortgage could come down to between 5.25 percent and 5.5 percent and world financial markets should respond favorably on Monday”.

My first mortgage in the 1980’s had an interest rate of 15 percent so I would assume a 5.5 percent would be a good first step in the real estate market turnaround, but it will not help much if lenders stick to their 30 percent down present requirement. Lenders have gone from zero down to 30 percent down which is not affordable to most home buyers.

Adjusting this requirement is absolutely essential if a turnaround is to take place, although the bailout of Fannie and Freddie is a very positive first step.

The Miami Dolphins and the University of Miami Hurricanes have started their respective training camps and I am excited. I envision once again Saturdays and Sundays cheering for my favorite teams, and hoping we do better than last season.

This is the Miami Dolphins 2008 schedule:

PRESEASON

8/9 – Tampa Bay

8/16 – @ Jacksonville

8/23 – Kansas City

8/28 –  @ New Orleans

REGULAR SEASON

9/7 – New York Jets

9/14 – @ Arizona

9/21 – @ New England

10/5 – San Diego

10/12 – @ Houston

10/19 – Baltimore

10/26 -Buffalo

11/2 – @ Denver

11/9 – Seattle

11/16 – Oakland

11/23 – New England

11/30 – @ Seattle

12/7 – @ Buffalo

12/14 – San Francisco

12/21 – @ Kansas City

12/28 – @ New York Jets

Then it’s off to the playoffs and the Superbowl for the Miami Dolphins!

(One can dream)