Curb Appeal Blog

MiamiCurbAppeal blog

Jan 31, 2011

Coral Gables Top Listings Under $1,000,000

Take a look at the best of the best for under a million in Coral Gables, one of Miami's most prestigious neighborhoods. In a saturated market with nothing but stylish options at great prices, these properties warrant a closer look. Ranging from Old Spanish to classic Gables updates, there is a little something for everyone. For more information please follow the address link, and of course, don't hesitate to contact me directly. Enjoy!

120 Morningside Dr.

MorningsideDr

This rare South Gables Old Spanish awaits. Step thru private Gate onto Chicago Brick and enter into a lush tropical setting. Main home has 3 bed/2.5 bath and features all the charm of a by gone era; wood and terracotta floors, fireplace, high ceilings, and custom wood work. Modern conveniences include new kitchen and master bath (TV overlooking claw foot tub.) French doors open to a heated pool and BBQ area. Updated detached cottage with kitchenette. Through a secret door, access roof top deck for discreet sun bathing.

680 Davis Rd.

Best Price on Davis Road! East of Old Cutler, Desired platinum Triangle, best schools in town. Sunny and Bright, updated granite eat-in kithcen with subzero and dacor s/s appliances, large master overlooks pool, 4 Bedrooms/3.5 bath plus 1/1 maids/in laws, oversized 2 car garage, pool with raised jacuzzi spillover and other water features. This home is hardwired for cat 5, cable, internet, sattelite, tv, camers, intercom and more. A must see!!!

2224 Segovia Cr.

Segovia

Pristine 1939 Old Spanish property on over 17,000 lot! BE mesmerized as you enter an are greeted by beautiful high vaulted ceilings, and a spacious living room with fireplace. Family room with bar, wall to wall glass and french doors and skylights that lead to a tranquil pool/patio. Lushly manicured gardens and sparkling pool with large gazebo great for entertaining and a cabana bath. This property's kitchen and bathrooms have been exceptionally maintained in original high-end deco style.

160 West Sunrise Av.

Sunrise

Towering oaks frame this asian-inspired perfect 10. Updated with marble and hardwood floors, impact windows throughout. The many great features include ultra-slick kitchen with breakfast area, indoor laundry room, quality window treatments. High and dry, flood zone X, and ample space for pool. Owner financing available.

2010 Alhambra Circle

alhambra

This two story ivy-covered home is located on prestigious Alhambra Circle behind the picturesque Gables' Water Tower. Designed for entertaining, this home features: formal living + dining rooms, big wood paneled family room, oversized Florida room with wet bar, den/office, and four bedrooms, 3 bathrooms, housekeeper's room, two car garage and tropical open patio and pool complete this unique jewel.

Jan 13, 2011

Sold!

Alliage #206

I just closed this 2 bedroom, 2 bathroom corner loft unit in the Alliage, a 12 unit, 4 story Oppenheim designed boutique building on West Ave. on South Beach. 18 ft ceilings with with floor to ceiling windows, Delano-style floor to ceiling drapery, 3 balconies with Italian porcelain tile, Brazilian walnut wood floors, Austrian glass chandelier, surround sound throughout, open kitchen with granite counter tops, wood cabinetry, and stainless steel appliances, rooftop pool and sundeck, covered parking, and minutes to Lincoln Rd.

This was an interesting sale. We originally put in a back up offer in May of 2010 when it was listed as a short sale. In the meantime, it slipped into foreclosure, and was bought at auction by a third interested party who in turn sold it to my client. It was a bargain. In the past 12 months, the only other sale in the building was an identical unit for over 15% more.

Jan 05, 2011

Energy Efficient Mortgages

An Energy Efficient Mortgage (EEM) is a mortgage that credits a home's energy efficiency in the mortgage itself. EEMs give borrowers the opportunity to finance cost-effective, energy-saving measures as part of a single mortgage and stretch debt-to-income qualifying ratios on loans thereby allowing borrowers to qualify for a larger loan amount and a better, more energy-efficient home.

To get an EEM a borrower typically has to have a home energy rater conduct a home energy rating before financing is approved. This rating verifies for the lender that the home is energy-efficient.

EEMs are typically used to purchase a new home that is already energy efficient such as an ENERGY STAR qualified home. The term EEM is commonly used to refer to all types of energy mortgages including Energy Improvement Mortgages (EIMs), which are used to purchase existing homes that will have energy efficiency improvements made to them. EIMs allow borrowers to include the cost of energy-efficiency improvements to an existing home in the mortgage without increasing the down payment. EIMs allow the borrower to use the money saved in utility bills to finance energy improvements. Both EEMs and EIMs typically require a home energy rating to provide the lender with the estimated monthly energy savings and the value of the energy efficiency measures — known as the Energy Savings Value. EEMs (and EIMs) are sponsored by federally insured mortgage programs (FHA and VA) and the conventional secondary mortgage market (Fannie Mae and Freddie Mac). Lenders can offer conventional EEMs, FHA EEMs, or VA EEMs.

Conventional Energy Efficient Mortgages

Conventional EEMs can be offered by lenders who sell their loans to Fannie Mae and Freddie Mac. Conventional EEMs increase the purchasing power of buying an energy efficient home by allowing the lender to increase the borrower's income by a dollar amount equal to the estimated energy savings. The Fannie Mae loan also adjusts the value of the home to reflect the value of the energy efficiency measures. For more information about Fannie Mae's EEM you can call 1-800-7FANNIE (732-6643). Visit Fannie Mae to find a Fannie Mae-approved lender in your state. A PowerPoint presentation, Freddie Mac Energy Efficient Mortgages , is available with more information.

FHA Energy Efficient Mortgages

The mortgage loan amount for an FHA EEM can be increased by the cost of effective energy improvements. The maximum amount of the portion of the EEM for energy efficient improvements is the lesser of 5% of:

the value of the property, or
115% of the median area price of a single family dwelling, or
150% of the conforming Freddie Mac limit.

For more information on FHA EEM loan limits refer to FHA Mortgagee Letter 2009-18 . No additional down payment is required, and the FHA loan limits won't interfere with the process of obtaining the EEM. FHA EEMs are available for site-built as well as for manufactured homes. Applications for an FHA EEM may be submitted to the local HUD Field Office through an FHA-approved lending institution. HUD has a searchable list of approved lenders . Information about the FHA EEM can be found on FHA's web site . Additional information is available from HUD's Office of Single Family Housing by calling (800) 569-4287. There is also a fact sheet about FHA's EEM (70KB). The Systems Building Research Alliance has information about FHA EEMs for ENERGY STAR qualified manufactured homes.

VA Energy Efficient Mortgages

The Veteran's Administration (VA) EEM is available to qualified military personnel, reservists and veterans for energy improvements when purchasing an existing home. The VA EEM caps energy improvements at $3,000–$6,000. Borrowers should ask their lender about a VA EEM at the beginning of the lending process. More information about VA EEMs can be obtained from the Web site for the U.S. Department of Veteran's Affairs or by calling (800) 827-1000. Chapter 7 of VA Pamphlet 26-7 (Revised) (1.5MB) contains lender guidance on the VA EEM.

To learn more about EEMs contact Fannie Mae, Freddie Mac, the FHA or the VA. Additional information about writing energy-efficient mortgages can be found on the Web sites for the U.S. Department of Housing and Urban Development (HUD) and the Residential Energy Services Network (RESNET) .