Magnificent Old Spanish Coral Gables Home for Rent

Here is an opportunity to rent a beautiful Old Spanish Coral Gables home on tree-lined Obispo Avenue, located in the North Gables area.   Obispo is a great location, just a block from North Alhambra Circle. There are two structures on the property.  A  modern new swimming pool and patio is also positioned on the large Gables "Double Lot".  Offered for $3,500 monthly.



1317 Obispo Avenue, Coral Gables, FL. 33134

 There are 2 structures on the property, including the main house and then a guest quarters.  The main house includes 2 bedrooms, 1 bathroom plus a small den which could be used as a bedroom or baby room.  The living room has a cathedral ceiling of pecky cypress wood and also a charming wood burning fireplace.  There are wood floors throughout.

Living Room with Cathedral Ceiling

The guest house has new italian porcelain floors, a great kitchen with granite and stainless steel as pictured below, and a newly updated bathroom.  This apartment is perfect for a teenager, home office, or your in-laws.

Pool and Fenced Backyard, Guest House



Swimming Pool and Patio

New Kitchen with Granite and Stainless Appliances

Bathroom in Guest House

Call for an appointment - Lisa Fox - Direct at 305-345-8153.

Fact or Fiction! NEW PROPERTY SALES TAX (Hidden INSIDE NEW HEALTHCARE BILL)

I have seen several emails from friends come across my desk about a new property sales tax to be imposed as a part of Obama's health care bill.  I couldn't believe what I was reading so I decided to check it out for myself.

True or False:  There is a new 3.8% sales tax to be charged on all home sales.  If you sell a $500,000 home, this tax will equate to $19,000.

THIS IS FALSE!

HOWEVER, THERE IS A NEW TAX BEING IMPOSED...   it is more along the lines of a "capital gains" tax.

This investment sales tax of 3.8% will be implemented starting January 2013 and it will effect a small percentage of home sellers. This is how it will work:

• Single tax payers earning more than $200,000 will pay a 3.8% property sales tax on "profits" over $250,000.
• Joint tax payers earning more than $250,000 combined will pay a 3.8% sales tax on "profits over $500,000.

In essence, this is more of a "capital gains tax" than a sales tax.  If you sell a house for $600,000 which you originally purchased for $200,000, you are making a $400,000 profit. If you are single and earn more than $200,000 per year in salary, then you will pay the following tax:

If you make the $400,000 profit, you will only pay after the first $250,000 profits.  Taxes will be paid on $150,000 of the profit which was $400,000 minus $250,000. New Tax = 3.8% of $150,000, which equals $5,700.

In this same scenario, let's say you are a couple filing jointly and earning more than $250,000 combined.  In this case, your tax would be zero.  This is because taxes would only be paid after $500,000 of profits.

Please feel free to pass this info along. Let's help clean up the rumors.

Lisa

Beautiful and Exquisite Home in Cartagena de Indias in Colombia

It is with great pleasure that I present a beautiful and historic property by the famous old walled city in Cartagena, Colombia.  Cartagena is located on the Northern Caribbean coast of Colombia. It is a top tourist destination for the country, and is frequented by both Americans and European tourists. 

The original structure is believed to be originally built in the Colonial Period, and it does have new walls and modern updates by a well known Colombian architect, Alberto Samudio.  The property currently has 6 bedrooms, 3 full bathrooms and has 2,690 square feet (250 Square Meters), and is available for sale or for partial investment for conversion to a boutique hotel. 
Contact me for more details about this unique opportunity.

Below are random pictures from Cartagena. 

 In 1984, Cartagena's old walled city was designated as a UNESCO World Heritage Site.



WHAT THE BANKS DON'T WANT YOU TO KNOW - How to pay off your mortgage while saving THOUSANDS OF $$$

On this Wednesday October 20th at 7 p.m., my friend Art Jansik will be sharing a technique on how to pay off your mortgage in a way that saves thousands of dollars. This method is not simply adding extra money to your monthly payment.  By following Art's teaching, you will learn how to out-smart the bank and drastically cut down the interest portion of your loan.

Several years ago, Art set a goal to become "debt free" before the age of 60.  With this method, he paid off 2 mortgages, and way before his goal date!  Even if you have a goal to become "less in debt", learning this may be the first step.

The meeting will take place at the Prince Annex (Senior Center) located in Miami Springs which is located just north of the Miami International Airport at 343 Payne Drive, Miami Springs, FL. 33166.  I suggest mapping the address before driving.  For more information, Art may be contacted at 305-884-5433.   If you are interested in selling your property, please contact me to find out what your property is worth.

Fisher Island - Ranks #37 on Forbes List of Most Expensive Zip Codes

In the list of America's Most Expensive Zip Codes, $4 million dollar homes are the norm.  The 33109 zip code which encompasses all of Fisher Island, was the highest ranked zip code in the state of Florida.  The median home price in Fisher Island was $2,295,291, down 8% since last year. Actual number sales closings remain at a steady pace with buyers capitalizing on the market.

Fisher Island Bayside Villas - Ocean View

 
The next South Florida community on Forbes wealthiest list is Key Biscayne, Florida, ranking #217 with $1.024 million average sales price.  Buyers purchased homes in Key Biscayne for 10% less on average, this year vs. last.  Included on the list is Coral Gables zip code of 33146, ranking #357.  The average home price in this area was $759,263, reporting a 6% decline in sales prices.  This zip code includes Coral Gables homes in the "South Gables" area, including the Platinum Triangle and Coral Gables Waterway area.

Find all of the ranked communities on the Forbes List by clicking here.

Is America a "FREE" or "FEE" Country?

You may not be aware that new "open road tolling" has gone into effect as of July 19th. For those driving around various highways in Miami-Dade County, a Sunpass is now the most cost effective way to go through these open toll areas.  The county has installed new seemless fast drive through toll scanners with cameras on the 878,  the 874 / Don Shula, and the Gratigny Expressways.  These key highways connect areas such as Coral Gables and South Miami to Kendall and the Turnpike south towards Homestead and the Florida Keys.  There are no manned booths at these stations, so you must have a sunpass or your license tag will be charged.

And they are "selling us" on this idea...

• with the benefit of less traffic and accidents around toll booths.
• saying that there will be less carbon emissions from cars idol on the highway.
• That everyone will now "only" pay the part of the road they drive on.

How does this effect you? Depending on how many exits you pass, the charge is based on a fee scanner prior to every exit on the road. This cost will most likely add up to more than what you were paying prior to the new open road installation, especially if you go through the old tolling area as well.

For example, if you prevously entered the 878 Expressway from US1 just north of Kendall Drive and then desired to exit by Metro Zoo (SW 152 ST), you would have previously paid a .75 cent toll.  Now (with Sunpass) you will pay $1.00.  Say you want to jump on the 878 just to exit Kendall.  Now you will pay .50 cents where prior to that it was free.  That is where the tax collectors are benefitting... all the prior "free" travel.

Photo of New Sunpass Mini

It's very important to note that without the use of a Sunpass transmitter, the fees will be charged by license plate.  A .15 cent surcharge will be tacked on to the regular fee for each toll charged by plate.

As you can tell, the author is not thrilled with this new idea but I suppose that is part of living in a "pay per click" state (Florida), where we have no state income tax.  Revenues are needed to build roads (and toll plazas) so taxes are charged on a per usage basis.  Click here to read more about open road tolling in Miami Dade.  Happy Trails to you!

Real Estate Scams - Here Are 5 To Watch Out For

Are you underwater on your mortgage (i.e... you possibly owe more on the mortgage than it's worth)?  If so, you need to read this article from Realtor Magazine on-line.  Click here for the article with 5 real estate scams with red flags to watch out for.   See below first...

FBI SEAL

It is apparent that whatever market we are in, people find a way to commit fraud.  In the boom, there was house flipping combined with buyers taking large kick-backs at the closing.  Now we see another "relative" of that fraud.  The FBI is working hard to target this fraud activity, and in fact have opened an office in Miami just for this matter. 

In 2009, prevelant mortgage fraud schemes included loan origination, foreclosure rescue, builder bailout, equity skimming, short sale, illegal property flipping, reverse mortgage fraud and loan modifications. The following are new emerging fraud trends: economic stimulus plans/programs, property theft/fraudulent leasing of foreclosed properties and tax-related fraud.

Miami is a key city where mortgage fraud is committed.  Entire neighborhoods have been effected. According to the FBI website, financial institutions reporting mortgage fraud around the U.S. increased from 6,936 cases reported in 2003 to 67,190 cases in 2009.

Short Sale fraud can be when people misrepresent their hardship, or when they sell their short sale house to a relative or friend for their own monitary gain.  A typical requirement of a bank short sale approval is the assurance that there is no relation and clearly an arms length transaction between buyer and seller.

Everyone is under observation.  Here is a story from a Miami Criminal Defense Lawyer Blog talking about two Broward County police officers and one FBI agent who were all recently charged with a mortgage fraud indictment.

One rule to live by is if you get a strange feeling about what someone is asking you to do, don't go along with it. Be careful with upfront fees regarding foreclosure or short sale bailouts, or with anyone who tells you to sign away the mortgage note or to not talk to your own bank.  If I help a client with their short sale, I never tell them not to discuss matters with their own bank.  That is a red flag to watch for.