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Marisela Morales
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EWM International- Weston
2000 Main Street
Weston, FL 33326
(305) 960-2557


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Archive for August 2010

Lowest Mortgage Rate Since 1971

Monday, August 30th, 2010

This week’s mortgage rate survey by Freddie Mac  reports the lowest 30-year fixed-rate mortgage at 4.36 percent,  since the report began in 1971.  Last year at this time, the 30-year fixed-rate mortgage averaged 5.14 percent.

Amy Crews Cutts, the deputy chief economist for Freddie Mac, claims that while house prices still appear to be stabilizing; the drop in existing home sales by 27 percent and of 12 percent of new homes sales this July has led market concerns that the housing market may slow the economic recovery.  This concern has lead to long-term bond yields to drop to the lowest levels of the year and this has resulted in new record lows for fixed rate mortgages.

This low rates provide an exceptional opportunity for new house buyers to enter the market and take advantage of also lower housing prices.

Proposed Millage Rate for the City of Weston for Tax Year 2010 and Fiscal Year 2010-2011

Tuesday, August 24th, 2010

The City of Weston is presenting its 2011 City Budgets  along with an informational sheet entitled: “What is the Proposed Millage Rate for the City of Weston and What Does it Mean to Me?

Basically the proposal consists of increasing the Millage Rate for Fiscal Year 2011 to 2.0000 from the current 1.7670.

This means the millage rate for the upcoming Tax Year and Fiscal Year 2010/2011 (October 1, 2010 thru September 30, 2011) can be as high as 2.0000 but no higher (by decision of City Commission). However, the City Commission can lower it at the two public hearings on the budget set for September 13 and September 27, 2010.

What Does it Mean To Me?

Tax Year Millage Rate Variation City’s TaxableP. Value* Taxable Value Ad Valorem       Tax Variation
2009 1.7670     $300,000 $530.10  
             
2010 2.0000 13.2% -10.1% $269,700 $539.40 1.75%
             

 

*City’s Taxable Property Value according to Broward County Property Appraiser

Considering a decrease in taxable value of 10.1% and an increase of the Millage Rate to 2.0000 the Net Effect on your pocket would be an increase of 1.75%

City of Weston budget hearings will be held at Weston City Hall, 17200 Royal Palm Boulevard, Weston, FL 33326 at 7:00PM on Monday, September 13, 2010 and Monday, September 20, 2010. Meetings are broadcast live on your Weston cable channel and viewable online at www.westonfl.org

Be on the look out to voice your opinion!

For Sale in Weston, Florida:Single Family 4/2.5 on Lake.Beautiful Views.

Sunday, August 22nd, 2010

The Lakes-Weston

Very private one story home in desirable community in Weston. House is located on oversized lot on  Cul-De-Sac overlooking a serene lake.

House features 4 bedrooms, 2 full baths and powder room. Tile on living areas and laminate floors on bedrooms. Enjoy this bright, open and airy model with cathedral ceilings. Enclosed tiled patio with breathtaking views. Great home for entertaining.

MLS: F1090219 RE1 Client Detail View (MLX)

House needs updating but has losts of potential! Take this opportunity to live in wonderful Weston!

Weston Florida Real Estate Market Update. July 2010. Facts and Trends.

Friday, August 13th, 2010

As of 07/10/10 the number of properties for sale in Weston reached 480 units which represents a decreased of 20% with respect to the same month last year. Units sold also decreased 10%. Units under contract- pending sale increased 20%.

 

Of those 480 units available for sale, 50% are foreclosures and short sales, 50% are regular sales.

 

REO 47 10%
SS 169 40%
No REO No SS 264 50%
Total 480 100%

 

This mix of properties well represents the current market conditions deeply affected by the mortgage situation and the general economics.

Average price per square foot increased 3% from $150/sf July last year to $155/sf July this year.

 

Inventory decreased 10% with respect to July last year. Inventory for July 2010 reached 6.2 months. A healthy market has an inventory of 6 to 9 months.

Indicators show that the market in Weston is showing signals of improvement. As always has been, it is a matter of supply and demand. Short inventory facing an increasing demand will bring higher prices.

Real estate in Weston is looking good. Rentals go very fast. So, as I always say “Weston is not only an excellent place to live but also an excellent investment”.

Is This Your First Hurricane Season in Weston, Florida? Be Prepared!

Monday, August 9th, 2010

 

Hurricane Season began June 1st and runs to November 30th

Our City of Weston is very concerned about residents being prepared in the event of a Hurricane.

It is important to have handy the following contact information:

 

 

 

  • City of Weston 954-385-2000
  • Broward County Hurricane Hotline
  • 954-831-4000 or 3-1-1
  • Hours: 8am-5pm until a hurricane warning is issued; then 24 hour operation

 

Please visit the City’s web page where you can find not also invaluable information about  hurricane preparedness but also lessons learned from past experiences.

HURRICANES & PREPARATION

If you are new in the area or for that matter new in Florida, you should know the difference between a hurricane watch and a hurricane warning.

A hurricane watch is issue when there is a threatening condition within 24-48 hours.

A hurricane warning is issue when winds of 74 miles per hour or more are expected within 24 hours.

When a Hurricane Watch is issued make sure you follow this basic steps:

  • Secure all outside objects. Bring loose objects such as patio furniture, garden tools and planters, inside.
  • Remove any debris from prior storms such as loose roof tiles – they will become projectiles.
  • Protect your windows. Permanent shutters are the best protection.
  • Fill fuel tanks of vehicle and generators.
  • Turn refrigerator & freezer to the coldest setting. Purchase or make additional ice.
  • Fill bathtubs and any large containers with water for washing, cleaning and flushing toilets, since electric power may go out of service.

BE PREPARED!!

Weston Rental. House in The Ridges: 3 bedrooms, 2 bathrooms. On lake.

Wednesday, August 4th, 2010

The Ridges

Enjoy living in desirable community in Weston. The Ridges is well known for its beautiful landscaping, amenities for the whole family (especially for the small ones), and closeness to the best schools the City has to offer.

House is on a lake with wonderful and peaceful views.

Check MLS: F1087291

What Can You Buy In Weston,Florida for Less Than $300,000?

Sunday, August 1st, 2010

Even Though, Weston has been affected by the downturn in the housing market as every town in the country, we can say that Weston has kept its value.  Being a small town, and having most of the amenities a family wishes to live in and raise kids, Weston remains very attractive not only as a place to live with quality but also as an investment.

Because of all the amenities Weston can offer:  plan community, excellent schools, parks, security, nice family environment, Weston can look “pricy” but there are good deals you can find at a reasonable price.

I took some samples of single family homes from the MLS (Multiple Listing System), NOT SHORT SALES, under $300,000. Just to give you an idea of the type of product you can find.

$299,000/canal front

$285,000

3 bedrooms/2 bathrooms

2 car garage/about 1,600 sf

gated community

$289,999

4 bedrooms/2 bathrooms

1,572 s.f.

gated community

If you have any interest on knowing in more details about Weston and places to live and call home, please contact me. Weston has been my home for the last 15 years. More than happy to show you around!

City of Weston, Florida: Helping Students in Need

Sunday, August 1st, 2010
The City of Weston will assist in collecting school supplies for needy children. Several buildings around the city will provide containers for “Back to School” supplies to help kids throughout Broward.
Market Recap

  • Avg. Sales Price: 379,000

  • Avg. Days on Market: 69

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