Information About Miami Beach Real Estate

Adjustable Rate Loans for Miami Beach


ARMS may be called by various names including, variable-rate loans, adjustable rate loans or adjustable mortgage loans for your Miami Beach home. They all feature an interest rate that can vary over the rate of the loan.

Advantages: The monthly payment on a typical ARM is lower in the early stages than the fixed rate loan. This may make it easier for the buyer to afford the Miami Beachhome.

Disadvantages: As interest rates increase, your monthly payment may increase or the amount of your payment applied to the principle may decrease which means that you must gamble on property appreciation to offset this increase in your indebtedness.

Miami Beach Real Estate Cycles


What makes most sense is the "buy and hold" strategy. Buy a home you expect to remain in for at least seven years or more. Miami Beach is no different than most, although the Miami Beach market does have it's own special circumstances.

Want to get a clear and up-to-date picture of the Miami Beach real estate market? Call me at any time. I am happy to share my knowledge of the real estate market with homeowners and prospective homeowners who want to take advantage of market trends to buy and/or sell wisely.


Miami Beach Homebuyers Quandry


Before you begin your next home search, make sure the Miami Beach you have is Market Ready. If painting or landscaping or repairs need doing, get them done. If you are going to go out house-hunting you may save yourself a lot of heartache and headache if your house is ready to be listed at a moment’s notice.

In many cases the amount you expect to realize from your existing Miami Beach real estate will determine the price you can afford to pay for your next home. Start with a Comparative Market Analysis so you will know about how much you can afford to spend.


Building Miami Beach Home Equity


As a Miami Beach homeowner you have the right to pay more towards the principle loan amount each month. Let’s say your monthly payment is $700.00 a month and $100.00 a month is being applied to the principle. If you choose to pay $900.00 instead of $700.00, the $200.00 overage will be applied entirely to the principle. Thus, instead of gaining $1,200.00 a year in Miami Beach home equity, you gain $3,600.00.

The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your home loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your Miami Beach home equity building options. Your financial advisor is the one to consult for these matters. If you would like up-to-the-minute information about Miami Beach home appreciation values in your area, please call or E-mail me today.



Buying a Miami Beach Fixer-Upper


Some Miami Beach investors concentrate on buying fixer-uppers, making repairs and upgrades then selling for a profit. Going with a Miami Beach fixer-upper can also be a smart way for those who are handy to buy a home in a neighborhood that they might otherwise be unaffordable. Fixer-uppers are a wonderful opportunity for those who simply love to create their space to their own specifications but for whatever reason do not want to start with a vacant lot.

Best to know the extent of the job and whether or not you are up to it before you buy. Some Miami Beach fixer-uppers simply need cosmetic work such as paint, wallpaper, carpeting and maybe kitchen appliances are fairly easy to estimate the costs for fixing. Miami Beach homes that need minor structural repairs such as roofing are also fairly easy to cost estimate.

Rent or Buy Miami Beach


For most people, the chance to trade nondeductible rent payments for mostly deductible mortgage payments is a powerful inducement to trade a rental home into a Miami Beach of your own. This is by far the single most important reason why people decide to buy their first Miami Beach.

However, whether you are considering your first Miami Beach investment or planning to move up, the number crunching necessary to figure out how much house you can afford depends on two calculations: one for actual monthly outlays, the other for the true, after tax costs.