Effort designed to encourage principal write-downs for responsible borrowers

Finally there is a program in place to help homeowners who purchased during the Real Estate Boom years an opportunity to bring down the mortgage to keep their homes. The best part of this program is that your payment will not just come down by giving you a lower interest rate as in a standard loan modification, but be able to bring down your actual Principal in the mortgage amount!!! This definitely is what has been needed to keep people from walking away due to hardship or even strategic defaults because it simply is not worth continuing to pay for a Condo or Home you are upside down on.

Read the entire article here:

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New wine bar opens in Midtown Miami

The Vintage Liquor and Wine Bar opened Friday in Midtown Miami, the development’s first liquor store. Vintage also has a location at 11753 South Dixie Highway in Pinecrest. Mayor Tomas Regalado attended a grand opening event Friday for the store. The store is the latest to open in suddenly-thriving Midtown, which was featured recently in this TRD video. The store is located in the ground floor retail section of Midtown 4, one of the two high-rise towers in the development.

Official Website

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Boomers say travel, pet care are needs, not wants – MarketWatch

baby boomers and young couple on vespas

Baby Boomers and Young Couple on Vespas

I think it’s funny how the lines between NEEDS and WANTS have become so obscure. Here is a great article from MarketWatch which has a study showing what Baby Boomers are defining as necessities and luxuries.

As it states in the article there used to be basically just three main necessities: food, clothing and shelter. Now we see having an Internet connection is a need. I know I sure can’t live without it! And other things such as yearly vacations, eating out and the list goes on and on. Another main point it brings up is that traditionally, people approaching retirement have been net savers, as compared with younger generations, who are net consumers. But as baby boomers reached middle age, there was not much of a shift in spending behavior. Rather, boomers stayed in the net consumer phase rather than moving to the saver phase.

To me this all comes down to exposure and the ability to adapt. When you are constantly exposed to having, let’s say internet all the time we all know what going one day with out it feels like. But extend that one day to two or three weeks and we soon begin to adapt and realize that we really will not die without the net. In the same way if we have a good retirement plan that will still allow us to still live in the now and save for retirement, we will realize that we are capable of adapting and be able to have all the luxuries we want once we retire without having to push retirement further. Especially if you want to retire in a Beautiful Condo in Miami Beach Right on the Ocean, because you know we all do!!!

In this economy it is ESSENTIAL to adapt and see things in a different perspective and after the economy has gone through its cycle you will see the ones who adapted and overcame still standing.

Will you be one of those still standing??? I hope so……

Read the entire article at – MarketWatch.

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MY VERY FIRST BLOG POST

Well I have to say that this has definitely been a long time coming, but finally I have made the effort to take some time to create this blog.

My purpose in this is to bring up to date and relevant news about our Miami Real Estate Market. Where is it now? Where is it heading? As we all know we are in a completely new market. There are many changes that have occurred and keeping up to date with them will definitely give you the advantage to succeed in this Miami Real Estate Market. I will bring my expertise in market trends, reports and Exclusive Listings I have in the Miami Condo Market that consists of Downtown Miami, Brickell and Miami Beach as well as for Single Family Homes in Coral Gables and Coconut Grove.

I look forward in reading your feedbacks and comments and in creating a community for Miami Real Estate Investors, Buyers, Sellers and even for people just wanting to know the best places to go and visit in this great city of ours, Miami.

You can also follow me on Twitter, Facebook and on YouTube where you would be able to see amazing videos of some of my Exclusive Listings in Miami Beach, Downtown Miami, Brickell, Coral Gables and Coconut Grove.

And most importantly my new website would be going live in about 2 weeks and would be one of the most amazing Miami Real Estate Websites you have ever seen. Real easy and straight forward navigation and content that would give you all the insight of our Miami Real Estate Market.

Posted in Brickell, Coconut Grove, Coral Gables, Culture, Downtown MIami, Events, Miami Beach, Mortgage News, Night Life, Real Estate News | Leave a comment