MiamiFlorida.com

According to a recent article published by the South Florida Business Journal, January 2011 unemployment rate for Miami-Dade county reached 12.0%. This represents a drop of 1.1% from the 13.1% reached last December 2010, but still higher than the 10.9% we had last January 2010. Keep in mind that while a lower unemployment rate not [...]

But, there is a special provision that allows up to $2 million of canceled debt on a mortgage to be excluded from income. This applies only to a principal residence – not a second home. And the exclusion applies only if a foreclosure or short sale takes place from 2007 through 2012. Read more at [...]

Economist expect the US economy to grow 3.3 percent this year. That’s up from November’s prediction of 2.6 percent growth. This according to a recent survey published by the National Association for Business Economics (NABE). For more information or if you have any questions or comments, please send me an e-mail to: michael@miamiflorida.com or text [...]

Warren Buffett the CEO of Berkshire Hathaway has just release his annual letter to investors. Please note that EWM Realtors International is owned by HomeServices of America an affiliate of Berkshire Hathaway. Warren Buffett acquired EWM in 2003. Berkshire Hathaway class A and class B stock increased 13% in 2010 and over the past 46 [...]

Reuters published an article earlier today saying that “the Obama administration is trying to push a settlement that could force the largest U.S. banks to pay for reductions in loan principal worth billions of dollars following breakdowns in mortgage servicing, The Wall Street Journal said.” Although still to early to speculate on the ramifications is [...]

According to the Wall Street Journal, the Obama administration is pushing for a minimum of 10% for the down payment of your new home.  Not to bad if you consider that for 2010 the average down payment was 22%. But a far cry from those 100% financing we saw 4 and 5 years ago. However, [...]

According to a recent article publish by trulia.com, three big lenders; Wells Fargo, Bank of America and Chase originated 56 percent of last year’s business. For more information or if you have any questions or comments, please send me an e-mail to: michael@miamiflorida.com or text or call me at my mobile number 305.450.0036

Many argue that the real estate market has bottomed and moreover that in some areas we have experience a price recovery for the past year or so. If treasury yields move higher, this fragile recovery could come to halt! For more information or if you have any questions or comments, please send me an e-mail [...]

According to an article published by The Miami Herald, the average rate on a 30-year mortgage rose to 5.05% this week, the highest level since April 2010 and almost 100 basis point higher that the lowest level touched last November. If rates continue to rise, this is not welcome news for the housing recovery we [...]

According to an article published by the Wall Street Journal, cash buyers are increasingly becoming a key component of the real estate turn-around story. Cash Buyers clearly believed that real estate prices are in a bottoming process. So firm is their believe that for 2010 Cash Buyers in Miami accounted for 54.2% of all sales [...]