Will you and your spouse or partner be applying for a mortgage together? You may be leaving money on the table due to high-interest rates caused by a lending practice that’s not fully understood, at least according to the Federal Reserve.

The problem arises when there is a significantly disparate difference in credit scores among a couple. If one happens to have a much lower FICO score than the other, lenders are typically required to base the mortgage loan application on the lower credit score, even if the other person may have a sterling score of 700+. As a result, if you have say a 780 score and the other person has a score of 630, the interest rate will be based on the latter instead of the former. Unfortunately this a rule followed by many mortgage lenders like Fannie Mae and Freddie Mac that first-time mortgage applicants are unaware of.

Because of this pricing that’s based on risk, may borrowers that are jointly applying have to pay more than they should. In fact, if we take a look at the period between 2003 through 2015 close to ten percent of joint borrowers could have had their interest rates reduced by a minimum of one-eighth of one percentage point if the one with the better score and income applied.

Have you ever run into such a situation when jointly applying for a mortgage with your spouse or partner?
This update is presented by Miami Beach Realtor Tim Allen of Blackstone International Realty, specializing in Continuum South Beach. If you are interested in Miami Beach condos such as the Continuum condos for sale, call Continuum expert Tim at 305-588-2451 for information on sales and rentals.

Renowned Iraqi-British architect Zaha Hadid passed away last week at the age of 65, leaving behind a tremendous legacy that included being the first woman and Muslim to receive the prestigious Pritzker Architecture Prize. She was well known for her pioneering efforts in parametricism and was also considered an icon of neo-futurism. Some of her notable works include the Guangzhou, China opera house and the aquatic center designed for the 2012 Olympic Games in London.

Born in 1950 in the city of Baghdad, Hadid originally studied mathematics before she moved to London in 1972 and began her studies at the Architectural Association School of Architecture. After honing her skills, Hadid would go on to open her own Zaha Hadid Architects practice in 1980, also based in London and she began teaching in the mid-1980s at the Harvard Graduate School of Design. Her various efforts would earn her honorary membership at the American Academy of Arts and Letters and an honorary fellow of the American Institute of Architects.

Prior to her death, Hadid had also designed the One Thousand Museum high-rise condominium in Miami that’s currently under construction. The sixty story building has gained attention for its unique exoskeleton allowing fewer columns within the building and it may also include a helipad as part of its amenities. Upon completion, it will be one of the tallest buildings in Miami at 700 feet.
This update is presented by Miami Beach Realtor Tim Allen of Blackstone International Realty, specializing in Continuum South Beach. If you are interested in Miami Beach condos such as the Continuum condos for sale, call Continuum expert Tim at 305-588-2451 for information on sales and rentals.

Embarking on a first time home purchase can be both exciting and perhaps even a little intimidating.  With the amount of paperwork, price negotiations, research, and all of the other details that are attached to the homebuying process, buyers obviously have lots of questions.  Let’s take a look at some of the most common ones real estate agents receive.

With the sheer number of homes available, buyers often wonder how many homes they should look at prior to making an offer.  This is one where it’s largely up to the buyer to decide.  Some people find their ideal home within hours while it may take months for others.  Agents suggest narrowing down the search to a preferred neighborhood to make things a little easier.

Buyers are often concerned whether a certain property represents a good deal.  Although there is no surefire way of knowing whether a home will appreciate, buyers should definitely take a look at comps to get an idea of how similar properties in the area are selling and how prices have fluctuated in the past.

When a buyer asks whether he or she should request a home inspection, the typical response from an agent is yes.  With a home inspection, there are no questions about whether the home is in good working condition and it can save a buyer hundreds of thousands of dollars in having to make repairs.
This update is presented by Miami Beach Realtor Tim Allen of Blackstone International Realty, specializing in Continuum South Beach.  If you are interested in Miami Beach condos such as the Continuum condos for sale, call Continuum expert Tim at 305-588-2451 for information on sales and rentals.

With the influx of foreign real estate investors seeking to purchase a unit in the next lucrative pre-construction project, developers and sales directors often to have rely on renderings, brochures, and 360-degree videos to present a feel for what a property may be like. In many cases these properties have yet to be built which presents a hurdle in being able to, for example, see how large a room might be.

Yesterday marked the official release of the Oculus Rift virtual reality headset, just one of several different virtual reality devices like the upcoming HTC Vive and Samsung Gear VR intended to make experiences even more interactive. The technology behind these headsets is being extended into real estate, allowing prospective buyers to not only see a property, but actually walk around it and explore it as though it were already built. With these capabilities, it’s much easier to get a feel for what a person may be purchasing or investing in. In fact, with this virtual reality technology, a builder could potentially create one of these immersive experiences for each unit of a building.

Have you tried one of these virtual reality headsets yet and if so, do you think they’ll revolutionize the way investors purchase pre-construction projects?
This update is presented by Miami Beach Realtor Tim Allen of Blackstone International Realty, specializing in Continuum South Beach. If you are interested in Miami Beach condos such as the Continuum condos for sale, call Continuum expert Tim at 305-588-2451 for information on sales and rentals.

Mynt, LIV, SET, BED Miami these are among the most well known of the various clubs that have emerged in South Florida and are either still around or have since closed.  New club openings have been largely non-existent, but a new club promises to breathe new life into South Beach.

Ora will be opening in April across from The Setai condominium at 2000 Collins Avenue.  The ambiance is expected to be one that emulates a chic hotel cocktail lounge featuring “butlers” that will ensure your drinks are always full and will be more than happy to help with making various reservations including brunch or a flight.  Other highlights include an art collection with work by famous names like Banksy and Murakami and even a policy in the bathroom that actually discourages tips.

Several individuals that are veterans of the nightlife scene are overseeing the opening of Ora and have reportedly spent time abroad in various European clubs to use as influences at Ora.  The mood will harken to the South Beach days when SET first opened its doors where the focus was on after dinner cocktails and good music.

What are some of your favorite Miami and South Beach hotspots?  Will you be checking out Ora when it opens in two months?
This update is presented by Miami Beach Realtor Tim Allen of Blackstone International Realty, specializing in Continuum South Beach.  If you are interested in Miami Beach condos such as the Continuum condos for sale, call Continuum expert Tim at 305-588-2451 for information on sales and rentals.

Colombia has been making the news quite often thanks to its many buyers seeking to purchase South Florida real estate. In fact, for the second straight month in a row the South American country managed to trump Brazil as the nation with the largest amount of buyers for South Florida real estate, per the Miami Association of Realtors. With Colombia’s increased presence, let’s take a look at how Miami and Colombia real estate are connected.

Although Colombia came in third in South Florida real estate searches, it’s tied with Argentina in terms of the percentage of people that actually purchased South Florida homes. Brazil came in second place with Venezuela being number one. Last year, Miami’s foreign real estate transactions by Colombians stood at ten percent.

Colombia is also seeing the development of a brand new Trump International Hotel & Tower in its capital city of Bogota. It will be the Trump organization’s third such building in all of South America and its building cost is $350 million.

There are also plans by the Colombian development form of Prodesa to build a mixed-use project within Miami’s neighborhood of Edgewater, not far from the Paraiso condo by the Related Group. The Prodesa project will comprise 372,932 square feet.
This update is presented by Miami Beach Realtor Tim Allen of Blackstone International Realty, specializing in Continuum South Beach. If you are interested in Miami Beach condos such as the Continuum condos for sale, call Continuum expert Tim at 305-588-2451 for information on sales and rentals.

If you’re a Miami Beach resident, you may have noticed the profusion of spring breakers that descended upon the barrier island last week. Every year, numerous teenagers and twentysomethings visit the South Beach area to enjoy the sunny sands and the various activities taking place on Ocean Drive and beyond. Of course with the profusion of young beachgoers there also comes the added problem of litter and debris.

If you happened to walk around the beaches of the city during the weekend, you may have noticed various volunteers participating in a cleanup effort to assist in getting rid of all the excess litter and debris left behind the Spring Break crowds. This effort was spearheaded by Miami Beach Commissioner Michael Grieco and several volunteer groups, drawing hundreds of people within the community, from children to Miami Beach couples and more looking to ensure that the barrier island beaches remain clean.

The cleanup effort was extensive and encompassed ten blocks beginning on 4th Street and stretching all the way to Ocean Drive.

The next time you’re sunbathing on the sands of Miami Beach, consider doing your part to make sure the beaches remain clean and free of litter. You’ll be doing yourself, everyone else, and the environment a huge favor.
This update is presented by Miami Beach Realtor Tim Allen of Blackstone International Realty, specializing in Continuum South Beach. If you are interested in Miami Beach condos such as the Continuum condos for sale, call Continuum expert Tim at 305-588-2451 for information on sales and rentals.

It’s Saint Patrick’s Day once again, the day when everyone is expected to wear green in celebration of Ireland’s foremost patron saint. Though Miami may not be home to a thriving Irish population, it does tend to celebrate Saint Patrick’s Day in a major way. Let’s take a look at a couple of places hosting events.

The St. Patrick’s Day Block Party kicks off at 6 pm today at Fado Irish Pub in Mary Brickell Village. For $10 a ticket you can enjoy plenty of music being spun by DJs, entertainment, and plenty of outdoor bars serving plenty of alcohol. Though the party begins at six o’clock, Fado is opening its doors at 10 am, serving brunch and bloody marys.

John Martin’s Irish Pub is already well suited for the occasion and will be hosting its own St. Patrick’s Day Party with live music courtesy of Paddy Kelleghan. There will also be a DJ, shots of baby Guinness, and pretty much anything else that would make for one of the best Irish themed parties in South Florida. Admission is free and the festivities begin at 11:30 am.

Irish Times is another authentic Irish spot located in South Miami. The Irish Times Block Party begins at 5 pm featuring a trio of live bands, giveaways, local DJs, and plenty of additional entertainment. Admission is also free.
This update is presented by Miami Beach Realtor Tim Allen of Blackstone International Realty, specializing in Continuum South Beach. If you are interested in Miami Beach condos such as the Continuum condos for sale, call Continuum expert Tim at 305-588-2451 for information on sales and rentals.

When it’s time to indulge in some great shopping, you can’t go wrong with Miami Beach’s Lincoln Road. Home to a number of stores and boutiques and incredibly pedestrian friendly, it’s just one of the many options South Floridians have when they’re looking for exciting places to shop.

Speaking of Lincoln Road, the Miami Beach government has plans to revamp the outdoor mall and other city governments have similar makeover plans for their shopping areas, like Miracle Mile in Coral Gables and Flagler Street in downtown.

While Lincoln Road may be the major highlight, there are many other places that will soon have new shopping destinations to explore, beginning with the ambitious Brickell City Centre. Expected to open this fall, the sprawling project will feature a massive 500,000 square foot open-air shopping center. The Miami Worldcenter is another lofty upcoming project that’s chosen to ditch its massive mall in favor of what’s being called “high street” retail.

Dadeland Mall and Aventura Mall are two South Florida mainstays and they both have either expanded or will soon be expanding. The upscale Miami Design District is also in the midst of 2017 expansion plans and the Bal Harbour Shops is also looking at a potential $400 million expansion.
This update is presented by Miami Beach Realtor Tim Allen of Blackstone International Realty, specializing in Continuum South Beach. If you are interested in Miami Beach condos such as the Continuum condos for sale, call Continuum expert Tim at 305-588-2451 for information on sales and rentals.

Did you miss out on this year’s South Beach Wine and Food Festival? The 2016 version was packed with even more events and celebrities than previous years, and included several events that extended beyond Miami Beach and Miami as far as Fort Lauderdale. Let’s take a look at a couple of this year’s highlights.

One of the most discussed and then anticipated events was Burger Bash hosted by celebrity Rachael Ray. Numerous people waited outside hoping to get into the event and included a host of burgers to sample prepared by some of the finest chefs and restaurants including Prime 112 and Morimoto, which ended winning the People’s Choice Award.

More than fifty of the country’s top chefs were at the Fontainebleau’s ballroom showcasing a huge array of exquisitely prepared dishes that tasted just as great as they looked. There was also plenty of free flowing wine on hand. Jeremy Ford of Top Chef and other notable names like Jose Garces were among the notable names enjoying all of the food festivities.

Some of Miami’s most renowned names made an appearance at The Grand Tasting, mingling and sharing their food experiences with some of the culinary A-list. The all-day event featured plenty to eat, plenty to drink, great upbeat music, and of course the scenic South Beach as its backdrop.
This update is presented by Miami Beach Realtor Tim Allen of Blackstone International Realty, specializing in Continuum South Beach. If you are interested in Miami Beach condos such as the Continuum condos for sale, call Continuum expert Tim at 305-588-2451 for information on sales and rentals.