The “trade-up” of a home works, and from a recent experience, proves it works well. One of our customers owned a home in Miami Shores that they bought in 2001 – a 3/2 with a pool. This starter home, updated in 2000, had become cramped, with their growing family and respective in-laws. Our job was to sell it quickly and find them a 5/3 with a pool in the same area.

Needless to say we are in one of the worst housing and financial crises since the great depression. In this market, we weren’t sure it could be done. I went over the challenges we would face, including the possibility of them having to rent temporarily.

Our staff began marketing their property in September 2008, a month before the banking meltdown. We lowered the price of the home in December. By April, we werecontemplating taking it off the market until things improve but springtime showed promise with a few showings in May. By June 2009, we had two offers and a subsequent contract.

We were occasionally going out with our Sellers to look at potential homes to purchase. As time passed there were more homes showing up in their price range. My customer fell in love with a house that was over their budget; however, while we waited for the contingencies on the sale of their property to be completed, their dream home had abig price reduction. The stars were aligning!

The biggest uncertainty we faced was the value of the taxes on the new home, because as of that date the County Tax Appraiser had the market value at just above one million. This tax bill would make the budget for the new house impossible. So, we started to research how much the bill would be after portability and it was still too high, but after conversations with the County and speculation that Taxable Property Values were going to be lower in 2009, and again in 2010, my customer felt comfortable enough to go for it.

I am happy to report that the market value for the homethey purchased went down considerably, lower than any of us projected. Now, they will be locked-in to this new market value making this the perfect ending to their story.

The Time is Now, Here is Why... If there was ever a time to upgrade to a new home, the time is NOW for a number of reasons: • As a way to stimulate the country’s housing market, Congress has passed new legislation expanding the credit to current home owners purchasing a home up to $6,500 through April 30th of next year. Your current home will likely be purchased by a first-time homebuyer, looking to take advantage of the huge tax credit. • But more important is how low interest rates have been --- hovering at about 5%, and likely continuing in that range in the coming year. “In the recent months, we have seen interest rates dip to historic lows, the lowest they have been in nearly 40 years,” explained Enrique Piñeiro, Founding Principal and Broker of Record, Ros Realty Group, Inc. There is no guarantee that those rates will remain at historic lows past the middle of next year. • Also, since valuations have dropped in the past year so dramatically, the likelihood of further reduction in real estate taxes is highly probable for 2010. So, you can count on lower real estate taxes – and locking those in with a homestead extension -- by buying and locking in a purchase in 2010. Currently, we are seeing home prices at 2004 levels; so if you missed buying that dream house a couple of years ago --- now’s the time!

Ros Realty Group Demonstrates Commitment to Green Building Practices

MIAMI, October 22 – Ros Realty Group’s founding principal and broker of record Enrique Piñeiro recently attained LEED AP accreditation (Leadership in Energy and Environmental Design) (Accredited Professional). These are the credentials that are awarded by the U.S Green Building Council (GBC) to professionals who demonstrate an advanced depth of knowledge in green building practices.

The U.S. GBC is the national non-profit community of leaders dedicated to making green buildings available within a generation through practices that feature sustainable building designs and construction. “This organization is helping to expand green building practices everywhere through education, resources and courses on their Green Building Rating System, which is the national benchmark for design,” explains Enrique Piñeiro.

He adds, “Ros Realty Group, Inc. has recognized the growth of green building and sustainable development initiatives in the Real Estate & construction industries and we are committed to supporting their efforts. LEED certification is part of that commitment.”  

As a LEED AP, Enrique Piñeiro assists clients through the LEED certification process, from beginning to final verification of a project’s green measures. 

Enrique Piñeiro joins a select group of Realtors nationwide who have recognized the significance of green building trends in the future of the building industry, and have responded by getting certified. The LEED Rating System supports global adoption of sustainable green building and development practices through the creation and implementation of universally understood and accepted practices and performance criteria. A LEED AP is an individual who has demonstrated the knowledge and skill set necessary to participate in the design process, and in addition, supports and encourages integrated designs, and streamlines the LEED application and certification process. LEED gives building owners and operators the tools they need to have an immediate and measureable impact on their building’s performance through a whole building approach to sustainability.

Ros Realty Group, Inc is a leader in the local Miami –Dade County Real Estate industry, with a practice that encompasses all aspects of Real Estate representation.

To discuss this topic further email Enrique@rosrealty.com

One of the options for homeowners in peril of losing their home to foreclosure is to try a short sale. Short Sale is when the lender allows an owner to market a property to be sold for less than the amount owed on a mortgage and takes a loss.

Unfortunately, financial institutions imply that this is an ordinary type of transaction; one which they can help facilitate in several ways. The truth is that financial institutions are not equipped to handle the enormous volume of sales from debt-strapped homeowners all attempting to do a short sale and believe me; this is truly a feat. Usually, most individuals who choose to short sale their property fail the process and lose their home to foreclosure.

Data pulled from the Southeast Florida Multiple listing service (MLS) indicates that only 20% of the short sales on the market actually sell (not as effective as most people think.)

Recognizing that short sales have fallen short of their desired result banks are stepping up their efforts to make short sales happen quickly and efficiently.   Working with many banks on the REO and Foreclosure side of the business I get to meet with such banks as Wells Fargo, HSBC, Country Wide now Bank of America, just to name a few and some like Bank of America have turned to third party REO and Default Servicing Industry vendors like REOTrans, soon to be Equator, to handle the short sale process for their customers. This is good news because if the banking industry can capitalize on technology to process this type of transaction the better the process will become.

So, if you’re considering a Short Sale, first contact your servicer or lender for their Short Sales and bank requirements. After you get the bank’s approval then get yourself a really good Realtor, an experienced Realtor, one that won’t drop the ball and one experienced in dealing with these new systems and you will probably have more success than most.

Now more then ever, with low inventory of Foreclosed homes, buyers are contacting us to help them buy a short sale property and the requests are not just in the Miami market but in communities like South Miami, Coral Gables, Pinecrest and many other great communities

For a list of Short Sale properties visit http://www.rosrealty.com/mls-property-search.asp and select the Short sale criteria in the search panel.

By Eddie Pineiro, Realtor | Broker Associate – eddie@rosrealty.com

How many real estate websites have you been to that promise you up to date REO/ Bank Owned/ Foreclosure listings but fall short from the real thing?  Well, I am proud to share with you a great place to find these great deals.  Ros Realty Group has a new website with all the bells and whistles.  With the help of a Coral Gables Real Estate Intergrated Web designer we have spent a good portion of 2009 developing a web site with a section that offers you all the REO’s, Bank Owned Properties, Foreclosure homes and condos for sale in the S. Florida Multiple Listing Services (MLS).

You can find our web site and this awesome search tool at www.rosrealty.com. From the home page, click on FORECLOSURE SEARCH (http://www.rosrealty.com/foreclosure-search.asp).   From here you can find foreclosure properties in Aventura, Bal Harbor, Coconut Grove, Coral Gables, Key Biscayne, Miami, Miami Beach, Pinecrest, South Miami, South Beach, Sunny Isles and many other great South Florida communities.   

So now that we have made it easy for you to find foreclosures let us help you get to the next step in the home search process; buying a foreclosed home, buying an REO home or buying a bank owned home. Let our expertise get you from looking at properties to buying an investment property or the house of your dreams.

If you are looking for a great deal in a home then do yourself a favor and contact us at 1(305) 668-2520.  After selling hundreds of REO properties you can be sure that we will guide you in the right direction. We are committed to providing you with expert guidance and we trust you will be satisfied.

By Eddie Pineiro, Realtor | Broker Associate –

eddie@rosrealty.com