Aventura & Sunny Isles Beach Luxury Real Estate

Okay…let’s be honest here. This has to be the WORST time for real estate in the longest time…EVER. If you own property,then selling is difficult. Either you have too much inventory out there to compete with or even worse, you have over maximized the debt on the property and will be forced to sell with no cash out or owe the lender even more to just get out. Buyers may be seeing record lows in prices, but still have to hunt through a lot of possibilities to find the ones in great condition or risk many unknowns in the restoration process. In addition, unless you are an all cash buyer or one with excellent credit, the final purchase may be at a standstill with mortgages still on a tight hold. Appraisals are coming in low, inspection reports reveal more work needed than planned, and Buyers and Sellers are frustrated with each other. Now, let’s look at the Realtor. No one selling, no commission. No one buying, no commission. The Herald devoted a large section of last week’s paper to Realtors and Developers who have sought out other types of work as the real estate market seems to have slowed down considerably. Koslovsky Realty doesn’t want to be anything BUT just that …Koslovsky Realty. No plans for reinventing our lives, just keeping our noses to the grindstone as we work harder and longer than ever before. Real Estate you see is not at a standstill. There is no boycott and no moratorium on buying and selling. Just fewer deals in even more time. As other Realtors choose to leave this profession behind, Koslovsky Realty is forging ahead. We are sharpening our tools of the trade and keeping up with all the inventory out there. This is a company with history, integrity, and unbelievable work ethic. Sid Koslovsky doesn’t give up on a Seller, a Buyer, or any of the agents who grace our office. Tough times mean tightening purse strings and keeping a closer eye on the dollars at hand. But, never at the expense of a Seller’s listing or a Buyer’s need to see a property again and again. Strong and determined, Koslovsky Realty is out there 24/7. Others may have moved on but the plan for Koslovsky Realty is to work smarter, harder, and even more aggressively than before. 2009 has so many new possibilities and we are ready to serve your real estate needs as always. Call us today.

by Susan Koslovsky

As the holiday of Thanksgiving approaches all the warm feelings of nostalgia, warmth, and family set in. Regardless of where you live, you cannot escape the talk of dinner, football, and holiday sales. If you choose to embrace it, and it’s hard to imagine not wanting to do so, it is a time of year that allows you to feel so good inside and out. Whatever your plans and whoever you will be with, you can have the best holiday if you shake it up a little and perhaps try celebrating “Givingthanks” this year instead of “Thanksgiving.” When you change the words around there is a little more emphasis on truly GIVING thanks. Be grateful, be thankful, and feel blessed. Say it out loud to yourself and to others. You should not pick and choose to feel that way only during great economic times. If this, holiday season teaches us anything, that is the ultimate lesson. You have to take whatever your life is and give thanks for every aspect of it. No one’s life is a utopia. Absolutely No One. There are health issues, money issues, and family issues, just to name a few. They will always be there. That’s called Life. This is about your chance to give thanks for everything and everyone in your life including yourself. Smile more, share more, and enjoy your life more. Of course actually giving to others who are in need is always part of giving thanks. That physical act of giving charity proves to yourself that you have something someone else does not have. It seems to be what we as human beings need to validate our existence. But this holiday gives YOU permission to stand up and shout how thankful you are for YOUR life. You don’t have to prove anything to anyone, just be truly happy for your space on this earth and in this life of yours. Our lives are about cycles and seasons that come and go: holidays, generations, styles, and markets. Every certain number of years the cycles repeat themselves and we revisit the same situations as in years past. We know that happens with styles of clothes, holiday meals, and the real estate market as well. As much as things change over time, so much stays the same as well. But for this upcoming holiday, celebrate “Givingthanks” instead of “Thanksgiving” and put a special spin on how you see your life and those around you. Be safe, be happy, and most of all be thankful. Happy Turkey Day to all.

The big buzz word and trend out there is the term “short sale.” Sometimes to avoid foreclosure, owners are considering the short sale. The short sale definition: a lender allows a property to be sold for less than the remaining balance on the mortgage loan. Sounds simple? Guess again. Basically the short sale is an arrangement between the current owner and the lending bank to accept an offer for less than the total amount that is owed to pay off the property. The lender is “shorted” and this deficiency is the difference between the amount owed and what the bank collects at the short sale. This arrangement can happen in many ways but the definition is still the same. Too many are throwing the term around too loosely taking on other meanings that are just not accurate. Short sale does not mean a property sold under market value, or a foreclosed home, or an owner deciding to lower their price and take less profit. The only way it can be a SHORT SALE is if the lender accepts less and is “shorted.” Most short sales come about when the seller owes more on the property than they can sell it for. At that time the owner tries to make an arrangement with the bank to sell the property for less than is owed. This arrangement differs from bank to bank. Don’t assume anything because each bank does it differently. There are several basic principles that are found common in most arrangements: Short sales are not a “free ride.” The short fall must be accounted for and you do have to show hardship. You should seek advice from knowledgeable professionals. Your credit will be affected. The process through the short sale is long and tiring and anything but quick and short. There is much back and forth for the seller as well as for the buyer. Also understand that those working for the bank are not there on the seller’s behalf. They are employed by the lender and their goal is to collect as much money as possible for their employer. Buyers and Sellers need Realtors with short sale experience. This can be a long and arduous road. A Realtor with knowledge can help you expedite your transaction and will also guide you in the process. Ask questions and have a lot of patience. This is the time for some great opportunities for both sides. Look out for the great deals and take advantage.