Events and Real Estate news for this week

Hello again everybod, after some technical difficulties we are back with some of this week evnts and happenings around our neighborhood.


EVENTS

* Spring Slam Backyard Carnival and Family Fun Day
Features rides, games, live music, food, beverages, education, bounce houses and raffle prizes; Danny Berry Baseball Field
Where:Dave and Mary Alper Jewish Community CenterAddress:11155 SW 112th Ave.
Kendall, FL 33176Phone:305-271-9000, ext.

* Citizenship Test Preparation Classes
Individuals must be able to read, write and speak basic English in order to take the class
Where:Kendall Branch LibraryAddress:9109 SW 97th Ave.
Kendall, FL 33176Phone:305-279-0520Website:http://www.mdpls.orgCost:free
When:Mon, Mar 15, 2010 12:00 PM
Mon, Mar 22, 2010 12:00 PM
Mon, Mar 29, 2010 12:00 PM
Mon, Apr 05, 2010 12:00 PM
Mon, Apr 12, 2010 12:00 PM
Mon, Apr 19, 2010 12:00 PM
Mon, Apr 26, 2010 12:00 PM

* JohnMartin's St.Patrick's Day Street Party
Begins with live Irish music by Paddy Kelleghan and The Rolling C's followed by rock tunes by The Hard Liquor Band. UV, the U2 Tribute Show, takes stage at 9 p.m., playing U2's hits and classics. The restaurant offers a traditional St.‚Patrick's Day menu with smoked salmon, Gaelic steak, Irish stuffed chicken, corned beef and cabbage, shepherd's pie, fish and chips, bangers and mash, Irish potato soup, bread and butter pudding and homemade Bailey's ice cream for dessert. Also indulge in fish and chips, chicken tenders, corned beef sandwiches, hotdogs and Irish beverages along the street. Benefits the Coral Gables Rotary Club
Where:Miracle MileAddress:Coral Way between Le Jeune Road and 37th Avenue
Coral Gables, FL Phone:305-445-3777Website:http://www.johnmartins.comCost:free
When:Wed, Mar 17, 2010 5:00 PM

* Cheese 101
Single session class about the basics of cheese and the wines that best suit them. Explore the history of artisanal cheese from France to California. Learn about different milk types, textures and flavors as well as how to shop for, care for, and serve fine cheeses. Uncover some new wines that complement different cheese types
Where:Pinecrest GardensAddress:11000 SW 57th Ave.
Pinecrest, FL 33156Phone:305-271-8492Website:http://mbittel@sunsetcorners.comCost:$45


REAL ESTATE NEWS

* FHA Head: Don't Raise Down Payments
Now is not the time to raise the downpayment requirement on a Federal Housing Administration loan, warns FHA Commissioner David Stevens.

Stevens, testifying before a committee of the U.S. House, said his agency would probably insure 300,000 fewer home loans per year if the mandatory down payment was raised from 3.5 percent to 5 percent — a 40 percent increase.

Congress has been considering various ways to put FHA on a sounder financial footing. Besides increasing the downpayment requirement, another suggestion under discussion is raising the upfront mortgage insurance premium to 2.25 percent of the loan amount, up from 1.75 percent currently.

The National Association of REALTORS® also opposes the proposal to raise the mandatory down payment for an FHA loan. The FHA remains financially strong because it has taken steps to ensure solid underwriting standards and responsible lending practices, said Charles McMillan, NAR immediate past president, in testimony before the House Subcommittee on Housing and Community Opportunity.

“As the leading advocate for housing issues, NAR believes that one of the best ways Congress can help strengthen FHA is to quickly consider and pass legislation that would make current loan limits permanent,” McMillan said. “It’s important to note that higher balance FHA loans perform better than lower balance ones. While some argue that higher balance loans put taxpayers at risk, such loans actually strengthen the program and reduce risk to the fund.”

Explaining that FHA has played an important role in the recent housing and economic crisis by filing the gap left by private lenders, McMillan said FHA insured almost 30 percent of single-family mortgages in 2009 and more than 50 percent of first-time buyer loans. “Historically, FHA’s market share has hovered between 10 and 15 percent of all loans. And when the private market is strong enough to return, we welcome a reduced FHA market share,” he said.

McMillan said NAR was also concerned that FHA wanted to decrease seller concessions to 3 percent. Reducing seller concessions could put homeownership out of reach for many buyers, he said, because it could require buyers to pay more at closing.

Source: Associated Press, Alan Zibel, and NAR (03/11/2010)




RECENT SALES IN OUR NEIGHBORHOOD

* 13254 SW 106 AVE$520,000.00 ($105.80 ppsqft)Buyer: KIBORT, GABRIELA
Assessed value: $893,782.00
Recording date: 03/08/2010
Seller: PAUL, JENIFER C
Beds/baths: 5/5
House square feet: 4,915
Lot square feet: 18,115

* 12220 SW 99 AVE$340,000.00 ($132.55 ppsqft)Buyer: FERNANDEZ, JILL
Assessed value: $177,495.00
Recording date: 01/14/2010
Seller: MAROON, ELSA M
Beds/baths: 3/3
House square feet: 2,565
Lot square feet: 15,000

* 9972 SW 125 TERR$440,000.00 ($103.82 ppsqft)Buyer: BLANCO, ROBERT N
Assessed value: $733,674.00
Recording date: 12/07/2009
Seller: CITIBANK NA TRU
Beds/baths: 5/4
House square feet: 4,238
Lot square feet: 21,148

* 10975 SW 107 ST 215$50,000.00 ($68.78 ppsqft)Buyer: SLEPOY, JORGE N
Assessed value: $121,770.00
Recording date: 02/19/2010
Seller: HOLLADA, JUEL C
Beds/baths: 1/1
House square feet: 727
Lot square feet: 0



*I hope to keep bringimg you events, and Real Estate news every week, I hope my information is useful, and remember to contact me with any Real Estate question you might have.

see you next time