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Izzy Buholzer
Lic. Realtor®/Agent
Home & Business Realty
Tel. 786-287-6999
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Stay in
touch with South Florida's Real
Estate and Business owners. Short and valuable information related
to property investments in Greater Miami and the Beaches.
In this issue:
- Top 10 Miami
Condos
- Too Many Flips - Are You A Dealer?
- Pros, Cons of Interest-Only Loans
- Inflation Fears Drive Up
Rates
- Win $20.00 Starbucks |
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::REAL
ESTATE NEWS:: |
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TOP 10 MIAMI
CONDOMINIUMS
Greater Miami and the Beaches are attracting people from all over
the world to invest in Condos. The supreme climate and the vibrant
nightlife make Miami a popular target for relocation or vacation. A
low dollar has made Real Estate in Florida an even more interesting
venture for Overseas Investors.
Click here to see the hottest Condos currently available in the Miami market.
Source: Search engines, MLS
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Florida existing home sales: 17,505
(- 15%)
Florida existing home median price:
$247,000 (+27% yr)
Florida consumer confidence: 95
(+4 Jan'06)
30-year fixed rate mortgage: 6.23%
National existing home sales: -5.7
%
Median price of an existing home
(U.S.)
$211,000
Pending home sales index:
116.4 (-3%)
National consumer confidence:
106.3 (+2.5)
U.S. new home sales:
+2.9 %
Median price of a new-home (U.S.):
$221,800
Source: Florida
Association of Realtors (FAR) December 2005
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Too Many Flips
Back Investors Into Tax Corner
(January 31, 2006) -- Flipping real
estate is a popular strategy these days, but beware — the
Internal Revenue Service is watching. If anyone completes
several real estate transaction in a short time, the IRS
might consider the property transactions a business rather
than an investment strategy, warns Lonnie Davis, a certified
public accountant with the Philadelphia office of CBIZ
Accounting, Tax and Advisory Services.
If that happens, instead of paying lower capital gains
taxes, investors face paying ordinary income taxes,
including self-employment tax. And they’ll be unable to
perform like-kind exchanges.
What’s the rule of thumb?
"It's a facts-and-circumstances test," says Davis. "There's
no rule of thumb that says: Buy three houses, you'll get
capital gains; buy five, and you're a dealer-trader. The IRS
looks at whether the activity is really a business.” Davis
urges people who buy and sell real estate to ask themselves
these questions to avoid running afoul of the IRS:
- How many properties have you
bought and sold?
- How often have you bought and sold them?
- In terms of income, is it your primary business?
Source: Bankrate.com,
Kay Bell (01/03/06)
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Know
the Pros, Cons of Interest-Only Loans
( February 1, 2006) -- Interest-only loans are increasingly
available but they aren't for everyone. Potential buyers should
closely evaluate the pros and cons of this sort of financing before
choosing this route.
Here's a quick roundup of the biggest benefits and drawbacks to
interest-only loans:
Pros: Payments are significantly lower because buyers pay only the
interest — no principal. Freed-up cash can be invested and savvy
investors maybe able to earn more than the interest rate on the
mortgage. This loan can buy a home owner time to build income.
Cons: When an interest-only loan converts to a fixed or adjustable
rate, the payment will shoot up dramatically. Failing to build
equity can be a problem in a declining market.
Source: Times-Picayune,
John Gin (1/31/06)
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Inflation Fears Drive Up Mortgage
Rates
(February 3, 2006) -- Inflationary pressure generated from
lower worker productivity and higher labor costs pushed up the
national average commitment rate on a 30-year, fixed mortgage to
6.23 percent from 6.12 percent in the previous week, according to
Freddie Mac.
The national average commitment rate on a 15-year, fixed mortgage
also bumped up to 5.81 percent from last week's 5.70 percent.
The national average commitment rate, along with fees and points
charged by lenders, reflects the cost of obtaining a mortgage.
The average rate on a five-year adjustable-rate mortgage also
increased to 5.87 percent this week from 5.75 percent last week,
while the average rate on a one-year ARM also edged up to 5.33
percent from 5.20 percent last week.
"Mortgage rates will surely fluctuate in the weeks and months ahead,
but the trend now is for higher rates over the long run," says Frank
Nothaft, Freddie Mac's chief economist.
—
REALTOR® Magazine Online
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Write an article in our next
Newsletter and win $20.00 Starbucks! Do you have an
interesting proposition or experience you wish to share with our
readers? We will publish the most interesting article and
send you a $20.00 as a "Thank You" from
IBMiami.com! To
include your article (max. 120 words)
click here! |
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Copyright 2006 - Izzy Buholzer - All rights reserved |
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