The Tower Club Hosts Luxury Real Estate Panel

Tower Club Event

Grateful To Be Part of The Elite Panel of Industry

leaders DaveSeleski@StonegateBankRickBell@LandmarkCustomHomes, PeterZalewski@Cranespotters and yours truly @jasonkapitftl. Sponsored by Stonegate Bank and moderated by EricKalis @TheRealDeal, the Who’s Who of luxury residential real estate came out for lunch and a discussion about the latest trends and developments within the industry. The panel provided on point information about finance, custom homebuilding, hard-line stats/numbers and a look at what’s really going on with buyers and sellers in the luxury space. Eric did a a great job grilling the panel (LOL) and the PR from our friends @KrepsDeMaria really fueled interest for the event.

Great people, great venue, great networking and some really solid information. Congrats to everyone involved on a job well done!

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The Top 4 Reasons Why Now Is The Time To Buy

It's time to buyAs we enter the season of spring, which is when the real estate market heats up, I wanted to provide you with the top 4 reasons why I think now is the time to buy.

#1Interest Rates

We all know that interest rates have been at historic lows for years now but 2014 was supposed to be the year that rates shot up and as a result would cool the red hot housing market.  This may still prove to be true later this year but as the 1st quarter comes to a close this has simply not been the case.  Rates have definitely held steady since the start of this year and even declined a little at the start of March.  They dropped into the mid to low 4% range and are still hovering right around 4.5% on a 30yr Conventional fixed.  FHA & VA dipped just below 4% at one point and now are holding steady right around the 4% range.  With these unexpectedly low rates it definitely should motivate potential buyers to lock in and purchase a home now.

#2Cheaper than Renting

Even with the rise in home prices and a slight increase in rates from last year, recent studies still show that it is cheaper to buy than rent.  In Broward County the average house payment on a median size home was $912, which is a lot cheaper when compared to the average monthly rent of a similar size home of $1763.  Home ownership also has tax advantages that renting does not.

#3Loan Programs

When rates spiked last summer a lot of banks and lenders had to let some of their employees go because the refinance business had dramatically slowed.  As a result many banks and lenders have become more aggressive again with lending in trying to recoup some of that lost refinance business.  This is proving to be fruitful to potential buyers.  There are numerous programs now available which include the following: 3.5% down payment;

Gift funds from relatives that can cover all expenses; relaxed credit guidelines after past short sales; 1yr self-employment; 10% down payment for jumbo loans with no mortgage insurance, and much more.

#4Tax Refund

Spring is also the time when we have recently filed our taxes and hopefully most of us are waiting for the IRS to issue our tax refund.  This is a great time to put that refund money to use and apply it towards the purchase of a new home.  Some people use it for vacation or to pay down debt, which are all great things but if you are in the market to buy a home and have been saving up then this tax refund could put you in a great position to do so now.

If you have any questions about this topic please don’t hesitate to contact me. To learn more about our company and mortgage products, please feel free to call Dan Longman, President of Priority Lending Corp, at 954-438-3776 ext.11 or email me at [email protected]. Visit us online at www.prioritylendingcorp.com 

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What is QM and how will it affect me?

Qualified MortgageQM stands for Qualified Mortgage.  On January 10th of this year the Consumer Financial Protection Bureau (CFPM) implemented laws requiring mortgage lenders to consider consumers’ ability to repay home loans before extending them credit. Read the rest of this entry »

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BROWARD COUNTY LUXURY MARKET UPDATE

Market Update Q1 2014Broward County as a whole experienced record sales in 2013, and has had an extremely positive start in 2014.  The growth was, and is, particularly significant with properties in the million-dollar plus category, where overall sales in the region increased 40% during 2013.  For example, our company, EWM Realty, now averages a sale of a million-dollar plus residence every 17 hours. Read the rest of this entry »

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Why does the Non-Farm Payroll report affect mortgage rates?

Non-farm payrollOn Friday, the Non-Farm Payroll report came in much weaker than expected (134k new jobs vs the estimates of 185k), and helped stabilize mortgage rates once again.  Have you ever wondered why a single report could have such a huge effect?

The non-farm payroll figure (a.k.a. NFP) represents the number of jobs added or lost in the economy over the last month, not including jobs relating to the farming industry. The farming industry is not included because Read the rest of this entry »

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OPEN HOUSE Sunday 2-23 at 3219 Harding Street, Hollywood, FL 33021

3219 Harding StreetNew Short Sale opportunity in Hollywood Hills

Great first home for young family.  Close to highways, Memorial Regional (East) hospital, the YMCA and Rotary Park, well respected in South Florida for its youth baseball and softball programs.  It is a 3BR/2BA open Read the rest of this entry »

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Palazzo Paradiso Featured in The Real Deal

Real Deal PressRendering of Palazzo Paradiso in Southwest Ranches, via [Daily Business Review] — Mark Maurer

Pembroke Pines-based developer Landmark Custom Homes wants to add a $10 million mansion to Landmark Ranch Estates, Southwest Ranches’ first gated community.  The single-family home known as Palazzo Paradiso would sit on a five-acre lot, as part of the community’s total 140 acres, the Daily Business Review reported. The majority of the 44 homes there sit on a lot roughly half that size.  The developer plans to break ground later this year on the eight-bedroom mansion. Amenities include a tennis court, basketball court, Mediterranean fountains, a pool, fireplace and eight-car garage.

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Miami International Boat Show

Miami Boat showTHE YACHT & BROKERAGE SHOW

MIAMI Feb 13-17, 2014

The Yacht and Brokerage Show in Miami Beach will transform Collins Avenue into a multi-million dollar presentation of yachts including the world’s most extraordinary and uniquely designed yachts and super Read the rest of this entry »

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Are Mortgage Rates Dampening Home Sales?

Longman's Latest CommentaryAccording to NAR’s most recent housing report, the answer is a firm “NO”  

In fact, home sales in 2013 rose to the strongest level in 7 years.  This taken directly from NAR’s RealtorMag:  “Existing-home sales have risen nearly

Read the rest of this entry »

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Christie’s International 2013 Report

Luxury Home Search2013 RESULTS from our Affiliate Partner
reprinted courtesy of Michael Sherman, 
Communications Director
, Christie’s International Real Estate 

Christie’s announced sales of £4.54 billion ($7.13 billion), up 16% for the year ending December 2013. This figure is the highest sales total for Christie’s or any auction house in the history of the art market. Christie’s sales figures were driven by an increase in new buyers across all geographies coming to the market, including from growth markets such as China Read the rest of this entry »

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Aggressive Price Reduction in Parkland FL

Poolside at 8600 NW 72nd Street8600 NW 72nd Street, Parkland FL 33067

Espectacular propiedad en medio de un oasis con hermosa, abundante y variada vegetación que permite una privilegiada privacidad. Construida en un terreno de 2.61 acres completamente cerrada con portería privada  en la subdivisión ecuestre “BBB RANCHES”.

La casa principal tiene 6,000 SF rodeada de ventanales con vistas a sus hermosos jardines Read the rest of this entry »

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Introducing Adam Kapit, the Team’s Newest Real Estate Agent!

Adam KapitSpecializing in Representing the “30 Somethings” and ALL up&comers

Adam graduated from the University of Florida with a B.A. in Business Administration.  Always captivated with the stock market, he became an equity trader right out of college, working for Schonfeld Securities and T3 Trading Group, proprietary trading firms based out of New York.  The key to his successful trading career was consistency, that is, setting goals, staying disciplined and continuously working hard to exceed self-set expectations.  That’s the hallmark of what it takes to be great real estate agent.

Professional Trading is a very demanding occupation, possessing similar traits and similarities to the real estate business.   You can’t teach desire, motivation, self-discipline.  It comes from within, so when an opportunity presented itself where the brothers could unite to build on what is already a very successful real estate business, the wheels  were set in motion for the collaboration to begin 2014.  Welcome AJ!  Glad to have you on the team.  Your energy, enthusiasm, hard work, infinite number of friends and your vast 30 something network will propel you far! – Jason Kapit

Born in Hollywood, FL at Memorial East, Adam is a lifelong resident and has lived in Hollywood his entire life.  He knows South Florida better than anyone.  He is married to Aly for 10 years and has two amazing children.  Whatever it takes to earn your business and trust, he will get it done! Available 24/7 at 954.665.6545 or [email protected]

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Realtors Support FHFA Decision to Delay Fannie, Freddie Fee Increases

G-Fee articleSo what is a G-Fee anyway?

Last week Mel Watt, the new Director for the Federal Housing Finance Agency (FHFA), has announced that he is delaying the increases in guarantee fees (g-fees) on loans purchased by Fannie Mae and Freddie Mac. He said he intended “to conduct a thorough evaluation” of Read the rest of this entry »

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