MARGARETE CHERNIN

Hello everyone my name is Margarete Chernin and welcome to my first Florida blog.  I am writing this from my home in Toronto, Ontario, Canada where I currently reside.  However, traveling to Florida several times a year I consider it my home away from home.  In these blogs I will write about the different seasons that Florida has to offer.  Also, each month I will take a different city and high light what it has to offer. 

MARIE MOORE

“I am a people person!  Every day I am fascinated with the diversity, energy, and excitement of life in South Florida and that enthusiasm shines through in my real estate work.  My goal is to make people happy, which is why I am totally committed to helping clients fulfill their every need, from finding the perfect waterfront condo or the ideal family home, with a garden, a pool, and good schools.  I am here to assist you.

My dedication to my work is only matched by my devotion to my family, with whom I enjoy biking, swimming, skiing, city hopping, traveling, and just about any activities I find myself involved in while raising two school aged children.  I hope that you will contact me to discuss your particular real estate requirements.  In my years selling real estate, I’ve developed an extensive knowledge of neighborhoods and as a computer science graduate, I use the best technology to stay in touch with clients and provide them woith the best research.

Buying a home is never just a transaction.  Being from Canada origionally, I understand the impact of moving to a new city.  I’ve been a proud and happy Florida resident for over 12 years.  I am totally dedicated to easing the transaction for all my customers, whether ther’re from out of town, out of state, or from another country.  I am particularly skilled at finding each customer their ideal home that best suits their lifestyle.  I hope that you will contact me to discuss in English or French your particular real estate needs.”

Marie Moore, Exit Ocean Realty, 954-864-4643

Ontario’s real estate market is strong. But you can find bargains galore in Florida, the U.S. state with the highest rate of foreclosures.   Property values have dropped about 60 per cent since the market there peaked in September 2005.  For example, a four-bedroom house with pool in Cape Coral (on the Gulf coast) that sold for $495,000 in 2005 is now listed at $199,000.

Let’s make a deal?  Not so fast….

Buying real estate in the distressed U.S. market is trickier than buying in Canada and can be full of traps for the unwary.  You need to know what you’re doing when buying from foreclosures – the legal process a lender uses when a homeowner defaults on mortgage payments.  In the first stage of foreclosure, the bank starts legal proceedings after several months of missed payments.  The owners can try to sell the home themselves.  And if the mortgage is worth more than the property value, they can make a deal with the bank to pay back less than the total owing to clear the debt.  This stage, called pre-foreclosure or a “short sale,” is a good time to buy in Florida.  But if you make an offer, remember that the seller has to take your offer to the bank for approval. This can take up to six months.

A Florida Condo Connections LLC client recently bought his first Florida property, which was in a short sale.  Last August, he bid on a two-bedroom, 1,300-square-foot condo in a gated community in Fort Myers on Florida’s southwest coast.  “The property was listed at $189,000, down from $389,000 three years earlier,” he says.  “We offered $170,000 and paid $177,000,” he says.  He picked the community because there were only three foreclosures among the 1,400 homes there.  Decide on the community, not the individual property, he advises.

Some new developments are selling very little and some existing ones have significant foreclosures. This will result in higher condo fees for everyone, including you.  Understand the reality of taxes and insurance.  Tax bills are about 2 per cent of assessed value.  Buying in a condo community means that part of your monthly fees go to insurance.  And think about going into a gated community for security and peace of mind when you’re not there.

The easiest and cheapest way to finance your place in the sun is to borrow the money in Canada.  You can’t get a Canadian mortgage for a property in another country, but if you already own a home in Canada with enough equity, you can refinance your home here and use the money for a home in Florida.

Other tips:

- Find good real estate agents and sign them up as a buyer’s agent working on your behalf. They will know the local area and what a good price on a place really is.

- Be aware that any money you get renting out your property will be subject to a 30 per cent withholding tax. Also, many condos and homeowner associations have rules about renting.

- When you have to transfer money down to Florida, use a foreign exchange company to save on conversion and transfer costs. You can even lock in a favourable exchange rate months in advance.

- Watch out for Chinese drywall, which was imported to the U.S. during the housing boom. Some class-action lawsuits have been filed against makers of the defective drywall, which can emit sulphur fumes, leading to “rotten egg” smells and corrosion in metals (such as air conditioning coils).

Heather Dodok, President, Florida Condo Connections LLC

The Florida real estate industry is unique, as the majority of transactions are for second homes for out of state and out of country buyers. Many Realtors, have gone through the unfortunate experience of having a person they worked with go and buy in another area of Florida, thus missing out on a deal – me included. At the time I did not have a network of other agents in these different areas to refer the people to. I now know that this is a prudent strategy for a Florida agent to have. Realtors will dramatically increase their chances for compensation from their leads and clients by being connected to others Realtors statewide.

The 1^st question a Florida Realtor should be asking a potential buyer is “are you looking in other areas of the state?”. Most times, the answer will be yes, and most buyers will be looking in the “Florida triangle”, consisting of Southeast Florida, Southwest Florida, and the Central Orlando area. Often, it can take a buyer 6 months to a year to finally commit to their purchase of a Florida condo after reviewing all their options. Staying in contact with these clients is important, and if the potential buyer is telling you they are looking in other areas, having someone to send them to who you know and can trust will make the process easier.

I am looking forward to helping other Florida Realtors achieve a more successful career by having them benefit from my Florida Condo Referral network, and with my connections in Canada and internationally. I am a snowbird who actually enjoys the snow… so I greatly benefit from having people to send my own prospects to during the winter months!

Heather Dodok, President, Florida Condo Connections LLC

Hello Everyone!  Welcome to my site.  I am writing this from Toronto, Ontario, Canada which is my northern home.  I myself am somewhat of a “snowbird”, although my migratory patterns are the opposite of most!  Growing up in Canada, I do have a sentimental regard for the seasons.  I love the snow, and there is nothing more beautiful than the colors of changing leaves in the Fall.  I always try to spend as much time as possible in Canada during the Autumn and Winter months, even though this is the prime time for real estate activity in Florida.  It has worked out well for me though, as I have met many of my clients in the Delta Sky Club at the Detroit Airport, at Palm Beach International Airport, and even on the plane.  Being in motion on the route between Canada and Florida allows me to interact with many people who have a direct interest in Florida real estate.

Four years ago, most people were asking me about investing in pre-construction condos.  Now, people are inquiring about the state of the market and are shocked at the deals to be had!  My last sale was a Toronto buyer who picked up a luxury ocean view condo for $195,000 that sold previously for $550,000 from the developer! Another buyer from New York who I met at the airport purchased a lakefront 2 bedroom inland condo in West Palm Beach for $50,000, instead of buying a Volvo convertible as he had planned!  The condo was a much better investment, as he rents out the unit for 6 months with a positive cash flow, and still gets to enjoy the sun the rest of the year!

Many people leave Florida with Mickey Mouse ears, and a new set of keys to their just purchased Florida condo!  I definitely make it a point to arrive at the airport 2 or 3 hours early, to hopefully meet more buyers.  Presence is the easiest way to promote yourself and your company!

Heather Dodok, President, Florida Condo Connections LLC

1. The population of Florida is 18,537,900 (2009 est).
2. The coastline is 1,197 miles, with 663 miles of beaches.
3. During the age of dinosaurs, the Florida peninsula was underwater and did not exist as a land mass. Therefore, no dinosaur remains were ever deposited in Florida.
4. The first record of Europeans in Florida was the Juan Ponce de Leon expedition in 1513.
5. Saint Augustine is the oldest European settlement in North America.
6. Orlando attracts more visitors than any other amusement park destination in the United States. 
7. Cape Canaveral is America’s launch pad for space flights.
8. Florida is not the southernmost state - Hawaii is farther south. 
9. A museum in Sanibel owns 2 million shells and claims to be the world’s only museum devoted solely to mollusks. 
10. The Benwood, on French Reef in the Florida Keys, is known as one of the most dived shipwrecks in the world. 
11. The United States city with the highest rate of lightning strikes per capita is Clearwater. 
12. Gatorade was named for the University of Florida Gators where the drink was first developed. 
13. Dr. John Gorrie of Apalachicola invented mechanical refrigeration in 1851.
14. Miami Beach pharmacist Benjamin Green invented the first suntan cream in 1944 by cooking cocoa butter in a granite coffee pot on his wife’s stove. 
15. Key West has the highest average temperature in the United States.
16. Miami installed the first bank automated teller machine especially for rollerbladers. 
17. Nearly 80 percent of the states intake of sweet Atlantic white shrimp is harvested in Amelia Island waters.
18. Fort Lauderdale is known as the Venice of America because the city has 185 miles of local waterways. 
19. Islamorada is billed as the Sports fishing Capital of the World. 
20. During the 1991 Gulf War the busiest military port in the country was Jacksonville. From this location the military moved more supplies and people than any other port in the country. 
21. Hurricane Andrew, which devastated Homestead, Florida City, and the surrounding area in 1992, was Florida’s most devastating hurricane and the costliest natural disaster in American history at that time.
22. Florida is the second largest producer of oranges in the world following Brazil.
23. More than 90 percent of all Florida oranges are squeezed into orange juice. 
24. Florida is the top travel destination in the world. The tourism industry has an economic impact of $57 billion on Florida’s economy.
25. Florida ranks low in terms of the tax burden placed on residents. Based on income, property and other state and local tax collections, the Tax Foundation research organization ranks Florida among the lowest tax states.
26. Florida has more than 1,250 golf courses, more than any other state.
27. Florida has more than 400,000 hotel rooms.
28. Florida is home to 26 billionaires who are among the richest in the world.
29. The most expensive zip code in Florida is 33109 – Fisher Island off Miami Beach with average sale price of $2.8 million.
30. Tourism is the largest industry in Floirida with over 82 million visitors in 2009.

Heather Dodok, President, Florida Condo Connections LLC