Miami Mortgage Banker - Home Loans - Miami, Florida

If you are in need of Mortgage Financing for Real Estate in Miami,
You have come to the right place.

NMLS License # 216170

(561) 329-0075(561) 329-0075

The Outlook for 2016 in Miami is Good. Freddie Mac is predicting that 2016 will be one of the best tears ever to get a home loan. Miami is unique in that a very high percentage of homes are purchased with cash coming from international buyers from all around the world.


Looking at graphs provided by City Data we see that in 2014, Dade County has been enjoying steady appreciation with excellent demand. Information on 2015 is not yet available.

miami home loans 2015

Real Estate Values Soar in Miami 2013 - In 2013 Real Estate values in Miami, Florida have behaved pretty much the same way they have behaved across the entire state of Florida. There going UP! Please see a recent graph furnished by City-Data.com showing a sharp increase in prices and a drastic down turn in volume since 2012.

Miami Home Prices 2013

From what I am being told from the many Realtors that I work with, approximately 2/3rds of all transactions nowadays are cash transactions. This is good for Realtors and bad for mortgage lenders like myself because only one third of potential home buyers need a loan. But we are also seeing an increase in Flips, Home Rehabbing using Private Money and the Delayed Purchase program. I can help customers with all three of these things anywhere in the state.

Flips - This term used to be considered a four letter word and at one point FHA would make investors wait 6 months before they could buy and sell a home to make a tidy profit. Now the investor can wait as little as 30 days if the situation falls within guidelines.

Private Money - Private money or Hard Money is out there again and can be used if an investor wants to parlay his available funds to work on more than one project at a time. This money is expensive but if the investor is able to buy and sell the home in a 3-18 month time frame it works.

The Delayed Purchase Program - The delayed purchase program is essentially a cash out refinance. It used to be that if someone purchased a home for cash they had to wait a while before they could draw the equity out of the home. Now the investor can do this on day one. This program is a good tool because of the competitive nature of today's marketplace. Cash offers always win out over an offer with financing, so the well funded investor pays cash for the home, gets their money back and goes off to buy another.


Looking at the City-Data  graph it appears that this spike happened earlier than other parts of Florida and has already leveled off since. Judging from the graph below provided by Zillow it appears to be more of a slow gradual trend upward.

As I have mentioned elsewhere on my web site, part of this demand is no doubt due to lowering borrowing costs during the year. For example the rate on an FHA 30 year fixed was approximately 4% at the beginning of the year and it is ending this year in the 3.25% range.

Miami Home Prices 2012 

 

If you are in need of a good Real Estate agent, you may wish to contact the Realtors over at
Hammer & Hammer Realty Group. They service Miami, Hollywood and Fort Lauderdale.
Reine Hammer 561-818-9797561-818-9797
reinehammer@gmail.com
hammer and hammer real estate


This is a typical listing from Hammer & Hammer. Most of their listings are higher end luxury homes in the Miami-Dade, Hollywood and Fort Lauderdale areas. Give them a call today at 561-818-9797561-818-9797.
Click Here for a virtual tour of this property

It is my experience as a mortgage consultant that when someone gets really close to purchasing that home, they know the neighborhood they would like to live in. Here is a set of hot links that will allow you to research any particular neighborhood in Miami.  When you have determined where you wish to buy please call me and I will get you pre-qualified to go get a mortgage. 561-329-0075561-329-0075  Preston@prestonware.com


FUN THINGS to Do in Miami

 Miami is actually an amazing place with so many fun things to do.I have listed a few below. I am probably only scratching the surface here.

 
South Beach is the ultimate Miami hot spot. From shopping to partying, this area of Miami Beach is well-known for being a trendy locale and the beaches which are amazing. The people are beautiful and are from all over the world. It is no wonder that the Superbowl seems to be played here once every three or four years because the scene is amazing. When you are done with a week of beach and night life, you leave refreshed. 
 
Miami Arena Tickets for Sale - Downtown in the heart of Miami we have the Miami arena also known as American Airlines arena. Located at 601 Biscayne Blvd Miami it is the most popular venue in Miami mainly due to the Miami Heat and of course all of the concerts that play here. For a complete list of what is playing there, click our link. 
 

 
 
The Miami Zoo is fast becoming one of the best zoos in the nation. Its climate allows it to keep a wide variety of animals from Asia, Australia and Africa like no other zoo in the country. One of the first free-range zoos in the country, the exhibits are entirely cageless. Animals are grouped according to their geographic territory and animals that live together peacefully in the wild are placed in exhibits together.
 

 
The Miami Seaquarium is located right in the middle of the tourist area, on the causeway between downtown Miami and Key Biscayne. It's a fabulous stop where you can witness an outdoor aquarium experience that's only possible in our tropical climate. Be sure to budget enough time to spend at least half a day there!
 

 
 
 
The Sony Ericson Tennis Tournament. Being a tennis player, I love this event which many describe as the fifth largest tennis event in the world behind the grand slams. Located on Key Biscayne, it is one of the players favorite stops (for obvious reasons). It is much more open and friendly than say the US Open in New York. Spectators can walk around and view bits and pieces of several matches on the grounds or they can go into the giant stadium court to see a main event.

The Miami Musuem of Science - Like all major cities Miami, Florida has an excellent museum for the whole family complete with planetarium and laser light show

John Pennekamp Coral Reef State Park -Americas best underwater sea park.

The Florida Keys National Marine Sanctuary is vibrant with color and life as you snorkel around in the living coral reefs in very clear beautiful south Miami water. John Pennekamp is located in Key Largo which is south of Miami but not really much of a drive. Suddenly you are in the Keys and it is a whole different world. .. 

Monkey Jungle in southern Miami-Dade County is a truly unique park. While homo sapiens walk through carefully constructed wire pathways, many species of primates scamper above your head, swing through trees and interact with each other in ways difficult to observe in captivity. Keep your eyes open; you never know who's hanging around!

 

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