Miami Dade Real Estate Scoop

Two days ago I attended my broker's "Panel of Experts Forum."  Our 4 top-producing agents generously gave us 2 hours of their time so we could benefit from their advice.  I was struck by the differences in their approach:

• One agent has an elaborate computer system set up which helps him with his cold calling.  He uses 4 computers which dial the numbers for him, display the data (small but important detail when you're calling an average of 40 folks an hour) and do everything except get him coffee.  Cold Calling is his thing.
• Another agent stated that 90% of his business is generated from referrals.  He concentrates only on his past clients.  His past client database is 247 names, and growing, and he sends out mailings twice a month to make sure he "stays in their face."  He never calls a FSBO or an Expired. Referrals are his thing.
• The third speaker was the only woman (this alone inspired me to do more) and dubs herself the "Mail Out Queen."  She mails out thousands of postcards (some warm but mostly cold market) each month. She has other marketing methods but predominantly direct mailings are her thing.
• The last speaker was the newest to real estate.  He's been licensed 2.5 years and has had his success working with Buyers.  The few listings he's had have been helpful in obtaining even more buyers.  He claims he's never lost a single call to one of his listings.  If he didn't sell them that house, he sold them another.  I'm not that successful in my conversion rate, but I can keep trying.  This man is not afraid to go the extra mile for his clients, literally!  A Tampa builder granted him an award for most homes sold and we're in Miami, 4 plus hours away!  Bending over backwards for his client has been his thing.  He admits to aiming to keep things closer to home this year.

 It was great to see that all success is not cut out of the same cloth.  We don't have to feel bad when one person states that they'd never try our approach as theirs works better.  What works great for some may turn out dismally for another.  Finding your niche and doing it well is key.

With that said however, I have to comment on their similarities:

• Systems.  Have your systems in place.  Success needs to be duplicatable.
• Dedication.  Just because we can goof off whenever we want doesn't mean we should.  It reminds me of something I heard in one of my first real estate seminars, "The best thing in real estate is not having somebody telling you what to do.  The worst thing in real estate is not having somebody telling you what to do."  Have a schedule and stick with it.
• Education and designations.  Keep learning.  Even beyond the minimum required CE hours.  Earn your designations.  Not only do they teach you a lot, they help you network with agents nationwide.  Can you say referral fee boys and girls?
• Organization.  Stay organized.  We all know it's crucial.  Some are great at this.  Others not.  Definitely worth bringing it up to snuff if you fall into the latter category.
• Technical knowledge.  Not talking IT here.  Just technical real estate knowledge.  Know what you are doing and know it well.  During our Q&A time I was struck by how many agents in the room did not know that an unlicensed assistant can not show property here in Florida.  It is against the law.  Hel-Oh!  Some agents argued this point and our broker had to step in.  hmmmm, maybe that 63 hour prelicensing course needs to be extended?
• Passion.  Love what you are doing.  It makes a difference.  It shows to all and makes your days worth looking forward to.
• Prioritize.  Remember the wife and kids? (feel free to fill in your own significant others here)  They're the reason you're doing this.  Make sure you leave work behind regulary and spend time with them and your own alone time doing things you love.  Someone who is burnt out is of no use to anyone.
• Last but certainly not least. Honesty.  The only way to do things.  Who wants something coming back to bite them in the butt anyway?

I try to attend classes and forums such as this one at least twice a month.  It's always a reality check for me.  Staying in touch with other agents and walking away with even just one new thing to try is something I look forward to.  Active Rain makes that goal even easier now!

OK, so I'm hard-headed.  It takes a couple of knocks for me to get things.  I posted previously about having lost a piece after working for 2 hours on it.  It wasn't a real post.  I was just venting.  Ranting.  Raving.  I didn't even do it for the points.  Honest.  I was so terribly disappointed that I had worked for 2 hours writing about a local festival and before I got to post it, I lost it because I clicked on one of the tag links at the bottom.  So I did what comes naturally.  I screamed in desperation.  OK, it was only an electronic scream but some swore they heard me.  (I've yet to re-write that post by the way.  Inspiration and opportunity are not always available at the same time).

The comments I received were all very helpful.  The bottom line is you are not ever to write a post directly in Active Rain.  Write it elsewhere (Word, Google Docs <which by the way, must be the same as Writely as when you go to writely.com it takes you to Google Docs.  Please correct me if I'm wrong> or any word processor) and then copy and paste it over here.  I appreciated the input and advice.  I'm new around Active Rain and have found the folks to be friendly, helpful and full of useful information!  Most also said that they write directly in AR if it's a very short post without much time involved.

I thought I learned my lesson.  I looked up google docs and set up an account.  Heck, I even used it.  It works great!  I'm using it now even.  Well, about 22 hours ago (but who's counting?) I was writing a short post directly in AR about my office and got carried away.  The short post turned into 45 minutes and when I was happy with it I clicked on Post Blog Entry and the next page tells me the system is down for maintenance as of 4:18AM PST and would be back shortly.  HA HA HA HA HA!  I really did laugh.  I was laughing at myself for not having learned my lesson.  I clicked the back arrow and got the same message.  I opened a new window and went to activerain.com and got the message yet again.  My work was gone.  Again.  Gee, I am hardheaded.

So here's the long and short of it for those of you who have yet to learn this lesson: 

• Write it elsewhere. 
• Save.
• Copy. 
• Paste.

If you click on a wrong link while posting, you'll still have your work.  If you click on the right link but the system is down, you'll still have your work.  There's other reasons to write elsewhere.  I've read folks' comments that they save everything, have 2 blogs, etc.  I'm still new at this and only blog here on AR (well, blog one, lose one, blog one, lose one, but that's all history now <smile>).

I've learned my lesson now.  This lesson anyway.  I'm sure there's many more in store for me.

If you are a homeowner facing foreclosure learn what your rights are.  I wrote about the foreclosure process previously but have to follow up with this post geared to the homeowner in this predicament.

The Miami-Dade Clerk of Courts has a brochure titled Homeowner Rights in Foreclosure Proceedings.  You can see and print the brochure by clicking here.  It has useful information for the homeowner facing foreclosure. 

There are things that can be done to save your home.  Contacting an attorney to work on your behalf is crucial.  It is not required, but who can better represent you than someone who knows the intricate laws involved in a foreclosure proceeding?

The brochure also explains what you can do if you're not able to stop the sale and there are surplus funds which can be claimed.  Surplus funds are any monies brought in by the final bid that are over and above what the final judgment amount is.  In this case, the homeowner may be entitled to receive surplus funds after the sale.

This is a difficult situation to find oneself in.  Again, I advocate using a knowledgeable attorney to represent you if you find yourself facing a foreclosure.  Time is of the essence too, as you have only 20 days to answer the original summons after it is issued.

This is a simplified overview of the foreclosure process in Miami-Dade County.  I am not talking statistics here, just the process itself.  I am asked about this a lot by folks who want to get into this "easy money" so here it is:

• A homeowner gets into trouble and falls behind on their mortgage payments.
• The bank will usually start the foreclosure proceedings after 3 missed payments.
• The process is started by the filing of a Lis Pendens by the bank's attorney.  If you go to the County Clerk's website you can see the Lis Pendens which have been filed.  This tells you who has had a foreclosure process started against them.  It is at this point that some foreclosure courses tell you to step in, before the property is actually sold at auction.  This is difficult to do as most folks who are being threatened with a foreclosure are not very agreeable to discussing their options with a "vulture investor." 
• Between a Lis Pendens and the actual auction of the property many months can pass, sometimes a year or more, depending on what the homeowner's attorney is doing.  Hopefully they have an attorney helping them.  I would say the average time though is about 6 months.
• Auctions take place several times a week in the same room of the county courthouse.  There are the "regulars" there who attend every auction.  Even for someone as myself (who is not a "regular") this was easy to spot.  They all know each other's names, talk too much even though the auctioneer is threatening to cancel the sale due to the noise, etc.  Some bring little folding chairs as it's usually SRO here.  It gets funny at times.
• Auctions really do start at $100.  BUT WAIT!  Don't get your wallet out yet.  They start auctioning at $100.  The bank's representative is there and they are bidding on the property also.  The reason for this is obvious.  If a house is worth $300K and the loan amount is $240K the bank wants to make sure it does not sell to anyone for less than the loan amount (plus legal fees).  I noticed the regulars would ask the bank rep at what point they would "bow out" of the bidding.  They did this to save precious time.  Who wants to be bidding back and forth for 20 minutes when the bank won't stop until they reach a certain amount anyway?  The rep answers their question and the folks who are prepared to bid that much step in and continue the bidding.  The bank stops bidding at this point. 
• On those rare ocassions when a property does sell for $100 it is only for this reason:  the property is not desired by any of the investors there (it may have been vandalized so much that the money required to bring it up to 'snuff does not suit their budget) so nobody bids on it.  The auction starts at $100.  The only party bidding is the bank, who buys it at $100 and , thus, saves on the doc stamps (a tax required on every home sold auction or not and it is based on the sales price).  So you see, the only $100 homes are being bought by banks to save on doc stamps.
• I've noticed that most foreclosed properties in this county sell for about 80-90% of their fair market value.  While this is a savings, all properties will need some repairs and further legal fees so that cuts into potential profits.  Plus, read the next one...
• A 10% deposit is required upon winning the bid.  The remaining 90% needs to be paid in cash (bank draft, cashier's check, etc.) by 3PM that day.  There is no financing these deals.  This one requirement rules out anyone but the heavy hitters from bidding.  I'm not a heavy hitter =)  I've never bid at a foreclosure sale.  This requirement varies around the country.  I've heard of places that do give you 30 days to come up with the rest of the money.  No such grace period here in Miami though.
• When you buy a foreclosed property, you buy it with whatever liens may have been placed on the property.  It is crucial to do your homework and contact an attorney for specifics.  The best advice I can give is caveat emptor - let the buyer beware indeed!

The Miami-Dade County Consumer Services Department will be giving FREE classes on how to use the County's Small Claims Court system.  The first class in 2007 will be on Wednesday, January 24^th at 7:00 pm at the McDonald Center at 17051 NE 19^th Avenue in the City of North Miami Beach.  If you need directions to the center please call 305-948-2972.

The Small Claims Court system can be used to settle disputes of $5,000 or less without the use of an attorney.  The class will explain exactly how the system works.  You start by filing an action and the goal is to finish by collecting a judgment.  Sample packets of required legal forms will be provided and class participants' questions will be answered.

There are 16 such clinics planned for 2007.  Four of the clinics will be held in Spanish and two will focus specifically on how to collect on a judgment.  To see a schedule of dates for the clinics click here.  The first one in our South Dade area will be in February.

Reservations are NOT required and the clinics are FREE and open to the public.  

This notice is another community service brought to you by your local REALTOR®, Maggie Dokic.  Should you need the services of a competent professional please visit http://www.maggietherealtor.com/  

I showed one of my listings 2 days ago to another agent and his clients.  The couple seemed nice enough, but reserved and almost down-to-business.  It took them all of 9 minutes to see the place.  The agent then asked a question about the roof and they were gone.

I told my seller I'd follow up with him the next day but I didn't tell him that I didn't have grand expectations as there was such little interest shown on the buyers' part.  Late yesterday the agent called and said his clients had liked the place and were going to put an offer together.  whoa!  I had not been expecting this.  Their poker faces had me thinking the only thoughts in their minds were "NEXT!" It was late in the day when the agent called and I've not received the offer yet, but he gave me a "verbal" and it was a decent offer.

This got me wondering... are agents prepping their clients to stay away from the big bad listing agent?  I can just hear it now... " Don't talk to her.  She's going to ask if you have kids.  She's going to ask if you've been looking long.  She's going to try and engage you in small talk so she can use it to negotiate for her seller.  Whatever you do, don't look into her eyes!"  OK, I'm exagerating, but I did find it a little intriguing.

I know we should be looking out for our clients' best interest, and I take that to heart.  But I don't tell my buyers not to talk and to show no enthusiasm.  The simple fact that you're out there looking at the house already shows you have an interest, even if only in ruling it out of your search!  Don't get me wrong, I do stick close to my buyer and intervene in the conversation if I feel it's warranted.

Maybe this couple just has that kind of personality and I'm off base with this one.  I wonder what other agents' experiences have been in this regard?

I'm happy to provide the latest numbers on the real estate market in Homestead, FL.  These numbers are for Single Family Homes. 

• Listed for Sale - 1101 homes.  The most expensive is listed at $3.5 million while the least expensive is listed at $145,000.  Very broad range in prices here in Homestead.
• Pending Sale - 152 properties are in contract and on their way to having new owners.
• Sold in the last 30 days - 37 properties sold with prices ranging from $200,000 to $875,000.  In comparison a year ago during the same period, there were 66 properties sold and they ranged in price from $170,000 to $530,000. 

I specialize in South Dade properties, specifically, Hoemstead, Redland and SW Miami, south and west of the Miami Metrozoo.  With all the homes presently listed for sale, now is a great time to buy.  If you have need of a competent, professional and caring REALTOR, feel free to contact Maggie Dokic at 305-975-3842 or visit my website at http://www.maggietherealtor.com/

I'm happy to provide the latest numbers on the real estate market in Redland.  These numbers are for Single Family Homes.  There are no apartment complexes, condos or duplexes in the Redland area.

• Listed for Sale - 193 homes.  The most expensive is a 4/3 with 20 acre avocado grove listed at $5 million while the least expensive is a 4/2 work in progress listed at $245,000, buyer to take over and complete the construction process.
• Pending Sale - 27 properties are in contract and on their way to having new owners.
• Sold in the last 30 days - 10 properties sold with prices ranging from $345,000 to $940,000.  The quickest to sell took 36 days and the most days on market was 581.  Talk about being patient!  In comparison a year ago during the same period, there were 9 properties sold and they ranged in price from $310,000 to $970,000.  Not too much of a difference in my opinion.

The other type of property that sells in the Redlands is vacant/agricultural parcels.  As the mainstream consumer has little interest in this, I am not providing numbers.  Should you care to see them feel free to contact me!

With all the homes presently listed for sale, now is a great time to buy.  If you have need of a competent, professional and caring REALTOR, feel free to contact Maggie Dokic at 305-975-3842 or visit my website at www.MaggieTheRealtor.com

Thanks for stopping by.  I am a local REALTOR who loves what she does.  I live and work in the historic Redland area of Miami.  Redland is south of Miami and North of Homestead, but a little further west.  It's an incredible place to live and I'm doubly blessed because I get to work here as well.

Apart from Redland, I also specialize in the SW Miami area (broadly defined as anything South and West of our lovely Metrozoo) and Homestead.  Of course, I've helped clients outside of these areas, but I don't specialize in them.  I don't want to be a "jack-of-all-trades and master of none," as the old adage states.  So I choose to focus my attention in these areas.  That being said, however, I keep up with anything that affects real estate in Miami, Dade County and Florida, so I am always prepared to help clients and their family and friends regardless of where in Dade County they need my help.  I've even ventured into Broward County on several occasions =)

My intention with this blog is to give folks an insider's tour of this great area.  We're a bit off the beaten path, and the extra driving is worth it!  Actually, the community is pretty self-contained, we've got great shopping, schools, medical facilities, entertainment, and employment opportunities, so the extra driving is optional.

Redland is predominantly full of nurseries and single-family homes.  No apartment buildings and condos here. The majority of the homes are on at least 1 acre; a true acre, not that acre-wanna-be known as a builder's acre.  An acre has 43,560 SF and a builder's acre has 30,000 SF.  (by the way, that would be my first real estate tip to you: if you ever encounter someone selling a home with "acreage."  Just ask if that's a builder's acre they're talking about)  Folks come out here to get away from the city and enjoy their time "in the country."  I know of people who have homes in Miami as well as here and they come out here on the weekends.  But mostly I know the folks who just work in Miami and come home to paradise each night.  I live and work here and I love it!

Driving around the area you quickly notice what makes it special.  The huge open spaces, acres and acres of nurseries, the regal palm trees surrounding us.  The tropical foliage is breathtaking.  Bougainvilleas in bloom are a sight to behold!  The orchids are gorgeous and there's butterfly and koi farms.  It's not uncommon to see folks riding their horse instead of taking the car to the local store.  There's so much that makes this place special that I hope you'll return to learn more about it.

In future entries, I hope to be able to give you a tour of the many sights which can be found in Redland, and the adjoining area of Homestead and SW Miami.  There will be nursery, park, festival, winery (yes, honest!  made from mangoes, lychees, carambola and more!) craft, everglades, shopping and restaurant tours, to mention just a few.

Of course, there will updates on the local market as well.  It's that REALTOR in me that strives to provide useful, accurate and valuable info to my clients.  So put a pot of coffee on (or pick up a colada of strong cuban espresso) and come back for a visit real soon.  Friends are always welcome here in Redland.

Fully Remodeled 4/2.5 Home on an Acre Plus listed under appraised value at $697,000.

This fine home in the City of Homestead, on the outskirts of the Redlands, boasts 4 bedrooms, 2.5 baths, 2-car attached garage and 1 car detached garage/workshop.  It sits on 1.16 acres of beautifully landscaped land.  This is a true acre plus, not a builder's acre.

When you first arrive at the home you notice the extra large circular driveway which can acommodate about 20 cars.  The live oaks in the front yard provide shade as well as charm to the property.  The professional landscaping is beautiful enough to add elegance while being simple enough to maintain on your own.  

Once inside you first notice the atrium.  It is visible on three sides so it provides a great focal point from various angles.  The fourth side is a rock facade which mirrors the rock used on the front of the house as well as on the wall in the family room which houses the functional fireplace.

The home has volume ceilings adding to it's spacious feel.  At 2,818 SF and with its open floor plan, it is spacious enough for a large family.  It does have a split bedroom plan so if you're looking to add a home office, the 4th bedroom would do that quite nicely.

No expense has been spared in remodelling this 1985 home.  The entire living areas have porcelain tile while the bedrooms are newly carpeted in neutral tones.

The custom crafted original Rutt kitchen is an understated delight.  The solid wood cabinets are built to last and full of splendid custom features such as built-in lazy susan, pull-out shelves, spice rack, and swing out interior panels to name just a few.  The brushed steel hardware add to the subtle appeal.  The counters are granite and the appliances are all brand new, top of the line, and with extended warranties.  The double sinks and pass through windows make this kitchen truly functional. 

Right outside the kitchen windows is the screened outdoor room with wetbar and custom cabinets.  Entertaining in this home is a breeze and a pleasure.  Everything lends itself perfectly for warm gatherings of family and friends. 

A continuation of the screened room, the extended deck provides more room to use for dining or just relaxing on a lounge chair and soaking up the Florida sunshine.  The choice is yours.

Another important feature of the full remodelling is the newly installed 45-year architectural shingle roof.  No worries here!  The detached 1-car garage/workshop was also included in the re-roofing.

Back inside, the Master Bedroom awaits with its French doors leading out to a fully enclosed, screened deck with your own private jacuzzi.  What a great way to relax.  The deck is large enough to acommodate 2 lounge chairs or a table and chair set so you can customixe this space as you desire.

The neighborhood is quiet and semi-rural.  The immediate community has homes on at least one acre lots.  There are agricultural areas with nurseries nearby.  This home is close to good schools, shopping, outlet mall, minutes to the Florida Turnpike and a very short drive to the glorious Florida Keys. There is no association fee.

This distinctive home has many more features too numerous to list.  Please visit a virtual tour by clicking here.  To arrange for a private tour of this home, please contact Maggie Dokic, by calling 305-975-3842.  It is offered for sale at $697,000.

Visit my website, where you can view my listings as well as search the local MLS at http://www.maggietherealtor.com/