Buy vs. Rent in Miami

Buy vs. Rent in Miami

 

Reposted from CNBC

It’s cheaper to buy a home than rent, but only if you can find one.

Home prices continue to rise at a fast clip, faster than incomes and faster than new employment, but it is still cheaper to own a home than to rent.   There are crazy few affordable homes for sale.  So, should you buy vs. rent in Miami?

The supply of listings in April fell 9 percent compared with a year ago, and, in turn, the number of days it took to sell the average home dropped to just 29, the lowest since the National Association of Realtors began tracking that in 2011. There was a big increase in the number of listings that came on the market this spring, but they were swept up so quickly that supplies were still lower.

“The two biggest phrases in the realtor comments this month were ‘low inventory’ and ‘multiple offers.'”

Why Work with Mario Quintero

Are you in the market for a property? Are you having trouble finding an affordable property?  I help people reach their goals. Whether you want to buy for the first time, refinance your existing loan, purchase an investment property, or sell your home, TODAY is your moment. Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the Miami real estate and mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients reach their home ownership goals,

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario, Your Miami Realtor

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage..

Call me today at 305-598-1600 or contact me here. Let’s find your dream home!

 

 

Miami Hurricane Season

Miami Hurricane Season

 

From CNBC June 1, 2017

 

Miami Hurricane Season

You — and your home — are in for a tough Miami hurricane season. Scientists expect 11 to 17 named storms in 2017, and as many as 9 may be hurricanes.

It’s looking like a busy season for hurricanes — and homeowners. Prime time for these big storms along the Atlantic coast kicks off on June 1 and runs until Nov. 30.

Scientists at the National Oceanic and Atmospheric Administration are forecasting “an above normal” hurricane season with as many as 11 to 17 named storms this year. Of those, 5 to 9 could become hurricanes. Four of these may become major hurricanes with sustained winds of at least 111 mph.

 

Hurricane Sandy, which bashed the East Coast in October 2012, resulted in $18.8 billion in estimated insured losses, according to Verisk Analytics’ Property Claim Services.

Check these items in your existing policy to get a sense of how well you’re covered in the event of a storm:

Homeowners insurance limits

Your homeowners coverage isn’t bulletproof if a tropical storm or hurricane strikes your home.

For instance, your policy may have a hurricane deductible, making you responsible for the equivalent of 1 percent to 5 percent of your home’s insured value.

Whether this deductible is applied will be based on your policy’s terms and your state’s insurance laws.  Hurricane deductibles are in effect in 19 states and the District of Columbia, according to the Insurance Information Institute.  These are Alabama, Connecticut, Delaware, Florida, Georgia, Hawaii, Louisiana, Maine, Maryland, Massachusetts, Mississippi, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Texas and Virginia.

Aim to have at least the amount you’d need to meet your deductible either in cash or in a home equity line that you arrange ahead of time.

Flood insurance

Your homeowner’s coverage likely won’t cover any damage related to flooding, so you’ll need to buy this coverage through either the National Flood Insurance Program or the private market.  A 2016 poll from the Insurance Information Institute showed that 12 percent of American homeowners had a flood insurance policy.

Keep in mind that this isn’t a cure-all: Under the program, coverage on the structure of your home is limited to $250,000, and your contents are protected up to $100,000.

Here’s your checklist

Know your deductible: Understand the amount you’ll need to pay out of pocket before your coverage kicks in. See how your hurricane deductible compares to your standard deductible.

Review your policy’s details: Examine your homeowner’s policy and see if your insurer will reimburse you for a hotel stay or rental home if you’re displaced from your dwelling. Check the limits: These can be a per diem or a flat dollar amount.

Top up your insurance shortfalls now: If you haven’t bought flood coverage, and you live near water, you’re taking a big risk. Consider excess flood coverage if your home’s value exceeds the $250,000 maximum covered by the National Flood Insurance Program.

Don’t forget personal items: Think about adding endorsements to your homeowner’s coverage so that you can replace valuables

Consider improvements to protect your home: Check valves can protect your home from sewage and drainage backflow. Roof clamps and window shutters can limit your wind damage in the event of a storm.  “Once you’ve let the wind in through a broken window, the likelihood is that you’ll lose the roof and home.”

Get in Touch with Mario, Your Miami Realtor

I’m Mario Quintero of Strock and Tanner Mortgage, your mortgage & realtor for life.  I’ve lived in South Florida long enough to know the dangers hurricanes can pose to your home.  Let me help you weather storms with appropriate checklists.  Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage..

Memorial Day Pool Party

Enjoy Memorial Day – The Miami Housing Market is Hot!

Memorial Day is one of the most anticipated and celebrated holidays in the USA. It represents the kickoff to summer. It signals the summer barbecue grilling and pool season is upon us. Images of weekend cookouts and pool parties create nostalgia and the desire to overall connect with friends and family.  Wouldn’t you love to be hosting one of these cookouts and pool parties at your home?  Folks, the Miami housing market continues to sizzle.  Why not get in on the action?

“The Housing Market Has No Where to Go But Up”

According to this piece by Marketwatch, published just yesterday, May 25th,  the columnist Jeff Reeves tells us,  “And after looking at the past few months of data, I remain convinced the housing market has nowhere to go but up.”  So, what are you waiting for?  So many have lost great opportunities waiting in the sidelines thinking (rather, hoping) the housing market was about to correct.  These same people are calling me looking to finally benefit from the low-interest scenario allowing them to purchase their dream home.

Why Work with Mario Quintero

Are you in the market for a property?   I help people reach their goals. Whether you want to buy for the first time, refinance your existing loan, purchase an investment property, or sell your home, TODAY is your moment. Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the Miami real estate and mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients reach their home ownership goals,

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario, Your Miami Realtor

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage..

Call me today at 305-598-1600 or contact me here. Let’s find your dream home!

What's Your Value

What’s Your Value

The Value of You

I love this story, because it reminds me not to compare myself with others, but to value myself by my own standard.  So, what’s your value?

A popular speaker started off a seminar by holding up a $20 note. A crowd of 200 had gathered to hear him speak. He asked, “Who would like this $20?”

200 hands went up.

He said, “I am going to give this $20 to one of you but first, let me do this.” He crumpled the money up into a wad.

He then asked, “Who still wants it?”

All 200 hands were still raised.

“Well,” he replied, “What if I do this?” Then he dropped the $20 note on the ground and stomped on it with his shoes.

He picked it up, and showed it to the crowd. The money was now crumpled and dirty.

“Now who still wants it?”

All the hands still went up.

“My friends, I have just showed you a very important lesson. No matter what I did to the money, you still wanted it because it did not decrease in value. It was still worth $20. Many times in our lives, life crumples us and grinds us into the dirt. We make bad decisions or deal with poor circumstances. We feel worthless. But no matter what has happened or what will happen, your value is what it was before that thing happened to you. Circumstances make you look a bit different on the surface, but you are as valuable as ever. Don’t ever forget

 

Why Work with Mario Quintero

I help people reach their goals. Whether you want to buy for the first time, refinance your existing loan, purchase an investment property, or sell your home, TODAY is your moment. I’m Mario Quintero, of STC Loans, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

The Perfect Gift for Mom…

What’s the best advice Mom ever gave you?  Whatever it was, I bet it saved you much trouble and heartache.  On this Mother’s Day, we celebrate our moms.

So have you picked out a special gift already?  Or are you like the many who scramble at the last minute to get that perfect gift for mom?  Ideas for gifts could range from flowers, to jewelry, to a handmade card, a gift card, taking mom out to eat, spending time with mom.  Or, if you’re like some pro-athletes, you could even buy mom a mansion!

Did you know?

In today’s day and age, believe it or not, according to Jessica Lautz, the managing director of the National Association of Realtors in this recent publication,  “Single mothers outnumber single fathers, and they might be more likely to seek out stability through real estate.”  While this may be shocking to you, it’s a well-known fact women are the decision makers when buying homes.  If married, husbands usually want to please their wives and let them not only pick out the best home for their family, but even let them decorate and furnish the same as their tastes choose.

Personally, I could not agree more.  I let my wife, Claudia, take care of all out home’s decorating details.  And I must say, she does a wonderful job at this.

So, once again, on this Mother’s Day, thank you to all the moms who work tirelessly to make every detail perfect for their families.

Why Work with Mario Quintero

I help people reach their goals. Whether you want to buy for the first time, refinance your existing loan, purchase an investment property, or sell your home, TODAY is your moment. I’m Mario Quintero, of STC Loans, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

Happy Mother’s Day!

 

Your Life Vision

Your Life Vision

 

Hone Your Life Vision

Just like businesses are guided by a vision, your life can also benefit from having a vision.  Your life vision is a description of your idealized lifestyle and outcomes.  Vision is often based on living according to your highest values and principles.

When honing your life vision, here are things to keep in mind:

  • Your vision shouldn’t be about “shoulds”.  Your vision is based on what you want to achieve.
  • A vision includes identifying your highest values.
  • Focus your vision on a higher sense of what you’d like out of life based on your values. Don’t worry about specific details.
  • Keep your vision distinct from your goals.  A goal has a time-bound and measurable outcome.  A vision is the broad sense of direction you want your goals to take you.
  • Keep your vision fresh.  If you’re feeling bored, re-evaluate your life vision.

Why Work with Mario Quintero

I help people reach their goals. Whether you want to buy for the first time, refinance your existing loan, purchase an investment property, or sell your home, TODAY is your moment. Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the Miami real estate and mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients reach their home ownership goals,

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

 

Get in Touch with Mario, Your Miami Realtor

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.

 

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Cinco de Mayo

5 de Mayo in Miami

5 de Mayo in Miami offers visual images of much fun and celebration. Who doesn’t enjoy going out for drinks on a festive holiday together with friends?  This year, 5 de Mayo falls on a Friday night.  Talk about the most fun of weekly happy hours!

While all of this is good and true, it’s important to also keep safety in mind.  Driving under the influence claims the lives of hundreds of people each year in Florida.

In 2014, in Florida alone, there were 31,783 arrests for driving under the influence, 797 deaths associated to DUI’s, 27% of all traffic accidents. In fact, DUI’s represent one of the leading causes of motor vehicle deaths every year. Is a 5 de Mayo DUI worth it?  Ruining your life dreams for an extra sip of that drink is not worth it, trust me…

 

Why Work with Mario Quintero

I help people reach their goals. Whether you want to buy for the first time, refinance your existing loan, purchase an investment property, or sell your home, TODAY is your moment. Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the Miami real estate and mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients reach their home ownership goals,

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario, Your Miami Realtor

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage..

Call me today at 305-598-1600 or contact me here. Let’s find your dream home!

Miami Home Closing

Miami Home Closing

 

Miami Home Closing Celebration

The Mario Quintero team at Re/Maxx held a Miami home closing celebration this morning for our Re/Maxx buyers Julio & Meylin. STC Mortgage took of the financing. As you can imagine, the family is very happy with their new home purchase. A very special thanks goes out to our team members. Laura Menendez, senior loan processor/originator, handled all the financing details.  Jackie Velazquez, Re/Maxx transaction coordinator arranged for everything to fall into place.   And the entire team at C and C Title Agency achieved a smooth, hassle-free closing.

 

Why Work with Mario Quintero

Just as I helped Julio and Meylin find their perfect and get the most competitive interest rate for their home purchase, I can help you, too.  I help people reach their goals. Whether you want to buy for the first time, refinance your existing loan, purchase an investment property, or sell your home, TODAY is your moment. Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the Miami real estate and mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients reach their home ownership goals,

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario, Your Miami Realtor

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage..

Call me today at 305-598-1600 or contact me here.  Let’s find your dream home!

No PMI Loans

No PMI Loans

From Realtor.com

Avoiding PMI Without the 20% Down Payment

No PMI Loans

Did you know you don’t have to put 20% down to avoid PMI, or private mortgage insurance?  Indeed, you may qualify for no PMI loans, without the 20% down payment.

What is a Conventional loan without PMI?

When you fall short of a 20-percent down payment on a conventional mortgage loant, you must pay for private mortgage insurance, or PMI. Although you can’t avoid the coverage which protects your lender in case you default, you can prevent monthly payments. Some conventional lenders offer alternative methods of paying PMI premiums to help keep your monthly payments low. You may also eventually qualify to cancel PMI, with your lender’s permission.

Conventional loans offer better interest rates and repayment terms in comparison to government-backed loans. Conventional financing requires good credit and a healthy debt-to-income load. If you lack this criteria, which is set by Fannie Mae, you can turn to financing backed by the Federal Housing Administration or the Department of Veterans Affairs, provided you are an eligible veteran. You can also opt for a conventional loan with PMI. Typically, you pay the annual PMI premium in monthly installments, along with the mortgage payment.

You can forgo monthly PMI installments by increasing your conventional loan’s interest rate. Known as lender-paid PMI, the lender covers the PMI premium for you and passes the cost onto you by increasing your interest rate. Your rate generally increases by three-quarters of a percentage point to a full percent, according to Realtor.com. Because you keep the increased interest rate for the duration of your loan, you can ultimately end up paying more over the life of your loan with lender-paid PMI.

Why Work with Mario Quintero

I help people reach their goals. Whether you want to buy for the first time, refinance your existing loan, purchase an investment property, or sell your home, TODAY is your moment. Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the Miami real estate and mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients reach their home ownership goals,

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario, Your Miami Realtor

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage..

Call me today at 305-598-1600 or contact me here.

Miami realtor

Miami realtor

You Get Out What You Put In

Every so often I get stuck in neutral. I coast along, doing things the same old way I’ve always done them. Then I notice something falling off…the quality of a relationship, the amount of business I’m doing, my health, and so on.

When that happens, I’m reminded of a little story I once read, that I’d like to share with you. It’s from motivational speaker Zig Ziglar who’s telling a story about his friend, Walter Hailey.

The story goes that although Hailey became a star salesman in later life, his early career as an insurance salesman was rough. He endured frustration, anxiety, slammed doors, low sales figures, and uncertainty about his future.

One day he grew so discouraged that he went to his boss and told him he was going to quit. His boss’s response? “You can’t.”

Hailey repeated that he was quitting. The manager repeated, “You can’t.”

Angry now, Hailey shouted, “Yes, I can!”

His manager replied, “Walter, you can’t get out of the insurance business because you have never really gotten into the insurance business.”

The words hit Hailey like a ton of bricks. For the first time in his life he realized that you can’t get something out of an endeavor if you never put anything into it. Or as Ziglar says, “There are many people who ‘join’ a sales organization, but never get into the business of selling.”

I’ve taken this to heart, and apply it everywhere in my life with wonderful results, not just in my business. Whenever I’m starting to get results I don’t like, I take it as a sign that I’m losing my focus. It’s a sign to start paying more attention!

Why Work with Mario Quintero

I help people reach their goals. Whether you want to buy for the first time, refinance your existing loan, purchase an investment property, or sell your home, TODAY is your moment. Have a look at your options with the help of Mario Quintero of STC Loans. Mario has been in the Miami real estate and mortgage business since 2002. His experience is tested and true. Mario has helped thousands of clients reach their home ownership goals,

Mario Quintero, principal of Strock and Tanner Mortgage, gets your deal done. Let me be both your trusted Miami realtor and Miami mortgage broker.

Get in Touch with Mario, Your Miami Realtor

I’m Mario Quintero, your mortgage & realtor for life. Let me be your Miami home consultant. Our office specializes in both residential and commercial real estate and financing programs. Let me help you secure a conventional, jumbo, FHA and foreign national mortgage loans. Furthermore, we can help your elderly parents secure a comfortable retirement with a reverse mortgage.

Call me today at 305-598-1600 or contact me here.