EWM Realtors » Real Estate News

According to The National Association of Realtors pending home sales have jumped 7.4% to 93.4 from 87.0 in July. This is 8.8% higher than August 2007. Good News? Buyers have appeared to take advantage of the lower home prices–short sales and foreclosures, with some sense of improved affordability–despite the financial crisis.

In today’s Wall Street Journal, Vernon Smith writes about the crash following a classic bubble. She calls it a ‘liquidity crisis’ and further states, “In every market, there is ultimately only one source of liquidity: buyers. And this is what central bankers hope to see return when they speak euphemistically of ‘restoring confidence.” Buyers are so important and a major step in improving consumer confidence!

Good News–Yes…pending home sales have increased and our inventory has decreased. We may have a long road ahead of us, but as a real estate professional, we must continue to communicate to our buyers and assure them that there are extraordinary deals in the market and do our best to preserve our positive attitudes! To read the full story see: http://online.wsj.com/article/SB122351051370717359.html .html)

Bet You Didn’t Know EWM Title Can Help With Seller Financing

Marisa Pia Capua, Esq. — Thu, 09 Oct 2008 22:35:52 +0000

These days, as big banks set stricter borrowing guidelines, seller financing has become more common. Seller financing is often combined with bank financing and is a popular alternative because it allows buyers to obtain the additional financing they need while sellers usually benefit from a better sale price and a faster closing. In my opinion, seller financing is certainly an option worth considering.

If your sale and purchase contract involves seller financing then a purchase money note and mortgage consistent with the terms of the purchase contract will need to be drafted. Did you know that EWM Title draft these loan documents for you and will do it for free? Many believe that only attorneys can prepare notes and mortgages and that a title insurance company preparing such documents is engaging in the “unauthorized practice of law.” They are wrong. In the case of The Florida Bar v. James A. McPhee, 195 So.2d 552, the Supreme Court of Florida made it clear that title insurance companies may prepare deeds, mortgages and other such instruments of conveyance of real property which are necessary to fulfill conditions contained in title insurance commitments issued by any title insurer for which it acts as agent, so long as no charge is made for preparing those documents other than the regular title insurance premium. As you can see, not only does the law allow title insurance companies to prepare loan documents in these instances but it requires that they do so for no additional fee.

And so it is, with the Supreme Court of Florida’s consent, EWM Title may handle a seller-financed transaction for you and prepare the necessary purchase money note and mortgage for no additional charge. In fact, EWM Title has lots of experience with seller-financed transactions as we have been providing the service for over 40 years. I bet you didn’t know this.

Honey, where did I put my Manolo’s?

Caroline Carrara — Thu, 09 Oct 2008 22:30:22 +0000

Hurry, hurry you better find them and quick!

Find those Manolo’s, Louboutin’s, Casadei’s, whatever, but grab those heels and get ready to strut your stuff down Las Olas this Saturday October 11th, come rain or shine.

That’s right, Diva’s this is strutting for a cause in the Annual High Heel Hike 2008 supporting the “Kiss Breast Cancer Goodbye”.

Register online. $25 per hiker (includes T-Shirt). Registration starts at 11am and the High Heel Hike begins at 12.00 Noon. It’s only 1K, nothing a real Diva, couldn’t handle in a pair of heels.

Bring, Mom, Grandma, daughter, sister-it’s for all ages, it’s a Sisterhood kinda thing and they have crowns for 3 categories: High Heel Hike-Queen (1st place fundraising), High Heel Hike-Teen Queen (first place fundraising ages 13-19) and High Heel Hike-Princess (first place fundraising ages 12-and under)…

What “Princess” wouldn’t want to parade down Las Olas in her sparkly garb with the grown ups?

At least, go out and support your Sista’s and cheer them along, it will be a event you will not want to miss and a parade that would make Carrie Bradshaw green with Shoe Envy!

Time of greatest opportunties!

Carlos Ruiz de Quevedo, AIA — Thu, 09 Oct 2008 13:17:36 +0000

Have you noticed how some people have all the luck? Some people just seem to be in the right place at the right time — at least that’s what it appears on the surface. Remember when the Dow was at 14000 and you would hear people would say; “I wish would have gotten in when it was 9,000 or 10,000. A few years back you would hear people say, I wish I could find a house I can afford. Things are bad on the surface, but actually for a lot of people these are the times of greatest opportunities.

Not long ago a young man asked me; “If you come across a great deal please give me a call. ” Recently his day came as I received a new listing for a 3 bedroom 2 bath condo built in 2005 offered for $40,000 near where he lives. This was his opportunity of a lifetime — he could have bought this place with as little as $1200 down and about $750 month for mortgage, tax and maintenance. Yes… you’re right, he let it pass –he did not like to make big decisions that quickly. This reminds me of a statement I heard about missed opportunities - “I spent most of my life waiting for my ship to come and when it finally did I was at the train station”.

Yes, these are very scary times… times we will be sharing with our children, grandchildren and great-grandchildren — but these are also the times of greatest opportunities. Two quotes to remember at times like these are; John D. Rockefeller when asked about his strategy for making money. “The way to make money is to buy when blood is running in the streets.” That’s a little too crude for me, so I rather focus on another famous quote. Warren Buffett when asked about his strategy for investing. “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” Curiously as many investors are dumping their stock, Mr. Buffett is buying.

During these times some people are going withdraw in fear while others will move ahead beyond their fears. This is a good time to also remember Franklin D. Rooselvelt famous quote “The only thing we have to fear is fear itself.” A few years from now we may recognize these times as the time of greatest opportunities in the 21st Century. A few years from now we are going to see some people around us who were lucky; some people who were in the right place at the right time. Are in the right place? Is this the right time for you? Are you going to be one of those lucky people?

A Facelift for Pinecrest Gardens Banyan Bowl?

Jennifer Wollmann — Thu, 09 Oct 2008 00:33:17 +0000

A committee was formed over the summer to look into options for updating and expanding the uses for the Banyan Bowl at Pinecrest Gardens. The semi-circular, open air theatre is currently under utilized but, with the capacity to seat 500 people, it has the potential to be a great asset for Pinecrest and neighboring communities. The committee outlined their vision and drew on the success of Tanglewood in Lenox Massachusetts as a comparison for what the Banyan Bowl could be. Their idea is that it would provide a venue for roadhouse companies such as The Pinecrest Repertory Theatre Company, Momentum Dance Companyand others. There was some concern by immediate neighbors as to the noise and traffic that such a venue might create as well as questions about how likely it would be for audiences to attend a production outside with heat, humidity, rain and mosquitoes. I think there is a way to incorporate the arts into Pinecrest, especially during the cooler months, while taking care to not inconvenience neighbors living next to the park. What do you think?

Dine Out in Fort Lauderdale–Now through 11/14/08

Amanda Wilson, PA, GRI — Thu, 09 Oct 2008 00:27:18 +0000

Enjoy a specially-created three-course meal at any of Fort Lauderdale’s top-rated restaurants–such as Regency Pier Sixty-Six, Riley McDermott’s (a place where Senator Lieberman was seen this week), Jackson’s Steakhouse, Chima’s, Grille 66 at the Hyatt, By Word of Mouth, Himmarshee Grille and many more–for $35 per person now through November 14, 2008! The Greater Fort Lauderdale Convention and Visitors Bureau has organized the Second Annual Dine Out Lauderdale–a six-week culinary celebration. Each restaurant will include an appetizer, entree and dessert for $35! For more information and to view the full list of top-rated Fort Lauderdale restaurants please visit: www.sunny.org/dineout. This is one way to fill the belly without breaking the bank!

Vivir en una postal en The Isles en Coral Springs, Florida. 12024 NW 9th Place

Maxine Hagey — Thu, 09 Oct 2008 00:24:48 +0000

Esta espléndida residencia en “The Isles” of Coral Springs” en el Estado de la Florida ofrece hermosas vistas del lago desde cada ángulo de sus estancias. Cinco habitaciones,cuatro baños y medio, tres puestos de garaje en un terreno de medio acre. Pisos de mármol y madera, molduras, iluminación excepcional y ventiladores son algunos de los detalles de decoración esenciales para el disfrute del estilo de vida “Floridiano”. La cocina gourmet esta equipada con gabinetes de madera, topes de granito y linea blanca en acero inóxidable. La sala de estar familiar incluye muebles empotrados y chimenea. La sala de cine con mullidos y cómodos sillones ideales para gozar de su película favorita, comiendo palomitas o cotufas. La bibilioteca/estudio tiene hermosa estantería de caoba desde el piso al techo. El patio alberga majestuosa piscina - spa con calentador. Los cuidados jardines completan la increíble postal.

16200 SW 286th Street - Redland - Open House Oct 12th, 2008 from 2 to 4 PM

Emilio Prieto — Wed, 08 Oct 2008 15:40:13 +0000

Bright home featuring inviting foyer entry, formal living and dining rooms, spacious kitchen with breakfast bar joining family room, screened tiled patio with relaxing SPA, expansive back yard, fruit trees, 2 car garage and paved circular drive way.

4 Bedrooms – 2 Baths – 2,246 Adj SqFt – 18,207 SqFt Corner Lot

Offered at $295,000

Additional photos and virtual tour at www.obeo.com/300552