The Real Estate Mango

Archive for June, 2010

Waterways Harbor and Marina in Aventura is Dirty with Trash and Deisel Oil Slicks

The Waterways harbor and marina is neglected and very dirty.  The smell of deisel oil permeates the air and this week, when I walked around the marina early in the morning, the smell was overwhelming.

Garbage from the boats is embeded in the rocks and is a geniune health hazard.  It is up to the management of the harbor to be sure that the pump works and pulls out polluted water and pulls in clean water.

This harbor is the centerpiece of the Waterways Development and all the beautiful townhomes and patio homes as well as the luxurious One Island Place and The Point of Aventura overlook what was supposed to be a gorgeous natural waterway leading out to the Intracoastal and the Ocean.

Each development pays a monthly fee toward the maintenance of the Harbor.  Someone has let us down.  I wrote to the Harbor Master on Wednesday and so far, no reponse.

As a realtor as well as a resident, this is important to me.  If you live in this area , it should be important to you, too. 

Contact the Harbor Master and demand that it be cleaned up!!

KLA SCHOOL IS COMING TO AVENTURA….REGISTRATION AVAILABLE FOR 2010-2011

THE SCHOOLS INSPIRED BY THE REGGIO EMILIA APPROACH IS OPENING IN AVENTURA!   This is wonderful news for parents of young children.  The school actually starts at children of 12 months of age and also offers Summer Camp.

At the moment there are locations in Miami and Coral Gables and to have this type of facility in Aventura gives our city another advantage for families who want to live here.

The KLA schools encourage children to develop their skills and strengths from the earliest possible age.

Click on the link to learn more about this method of  teaching.

For more information please call 305 377 0391   …   www.klascchools.com

There are great homes available in Aventura for young families…call me TODAY to see beautiful properties.  Buy while interest rates are low!!

Five Important Reasons Why Getting a Mortgage Is Getting Tougher Even When Rates Are Low

1.  Harder to Qualify.  Lending institutions are looking at credit scores with a magnifying glass.  In the past 620 was good.  NOW 680 is better and anything lower than 620  gets the potential borrower higher rates and higher fees.  740 gets you a terrific house but that is an optimum number that most people don’t have.  This is called the FICO score named after the corporation that produces it (Fair Isaac Corporation).  It is a statistical analysis of a person’s credit report.  

2. Income and Assets Subject to Greater Scrutiny  In the past, some loans were given without checking any of the financial figures of the borrower as long as he had a large down payment.  This is no longer true.  All the financial history of the borrower is examined at extreme lengths.  Foreign buyers have additional problems since their statements are sent from a foreign institutions and have to be verified carefully here and that takes more time.

3. Appraisals Come In Low  Since there are not as many sales to compare a home to, the appraiser has to branch out to like properties in similar close by developments and make adjustments.  They are very careful to not include any personal property so as to skew the result.  Their appraisal is usually counter checked by the lending institution and questioned.  This procedure is also different in that the appraiser cannot speak to any realtor in his work and must rely on the cold facts.

4. Condo Mortgages More Difficult to Obtain  In addition to qualifying the borrower, the lending institutions have to approve the condo that the borrower is buying in.  Cash reserves have to be documented, owner occupancy rates are evaluated, deliquency rates on monthly maintenance charges are examined  and if these facts don’t measure up to the standards set, then the loan is denied.

All scenarios make getting a loan, today, at these fantastic rates difficult.    Statistically, it is quoted that only 3 out of 10 loans are made.

If you are thinking of buying, get qualified by a  mortgage broker as soon as possible, before you start looking at properties.  Let him know all your financial situations so when you find the perfect home, you will not be disappointed.