Client Testimonials

Below are some client testimonials. Always remember that you have a friend in the Real Estate field. Please contact me if you ever need a question answered or require my services.

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Please click on the image and maximize it when it opens to read the comments.

Please click on the image and maximize it when it opens to read the comments.

Please click on the image and maximize it when it opens to read the comments.
Please click on the image and maximize it when it opens to read the comments.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

How Important are Pictures in the Marketing of My Home?

It may seem like common sense that having pictures when marketing a property is important. But, just how important are those pictures? VERY IMPORTANT!!! According to a recent survey, nearly seventy percent of prospective home buyers will not even look at a property's listing if it does not have any pictures. Also, there is a 299% greater chance that a property's listing with at least six photos will be viewed by a potential purchaser than those without.

The top ten most viewed photos are of the following (in order of preference):

1. Front Exterior
2. Living Room
3. Kitchen
4. Master Bedroom
5. Family Room
6. Backyard/Pool
7. Foyer
8. Dining Room
9. Breakfast Nook/Room
10. Kid's Bedroom

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

What's the Profile of a Multi-Million Dollar Home Buyer?

Living in South Florida there are a tremendous amount of homes that sell for over a million dollars. In fact in the first half of 2005, there were 123 homes that sold for over two million dollars. So who are these people buying all these beautiful homes? What is the profile of a buyer of a home that sells for over two million dollars?

1. 89% are married
2. Nearly 75% are under 55 years old
3. 14% were born abroad and 86% were born in the US
4. Only 6% inherited twenty percent or more of their wealth
5. 51% report over a million dollars income each year
6. 81% are top corporate executives, self-employed professionals, or business owners
7. 71% attend the theatre, ballet, or opera
8. 40% play tennis and 71% play golf

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

What is Tax-Deductible When Buying a House?

What is tax-deductible when buying a home? When you buy a home, you can generally deduct origination and discount points, interest you pay during the year, and property taxes. When refinancing, points are not deductible; instead you have to "depreciate" them over the life of the loan. Other closing costs (such as the cost of the appraisal, inspection, credit report, etc) are not tax-deductible, regardless of whether you are buying or refinancing. The down payment is not tax-deductible either. One detail that may surprise you - when you are buying a home, you can deduct the points even if the seller pays them.

These are general rules-of-thumb, and they might be different for you, depending on your situation (your income level, the purpose for buying the home, etc). Consult your CPA for specific guidance.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Should I Get an Interest-Only Mortgage?

Should I get an interest-only mortgage? I get asked this question many many times. The simple answer is that it depends on your situation. For those that may not know, an interest-only mortgage is an adjustable rate mortgage (or ARM) where the borrower pays only interest on the loan for a fixed term. Normally the term is five to seven years. The longer the term will usually cause the rate to increase. When the fixed term is over the person then has the option of paying off the full amount of the mortgage, refinancing the mortgage, or to start paying off the principal. If the borrower chooses the last option, the payments of the mortgage will increase dramatically.

According to bankrate.com (an excellent source for financial information), an interest-only loan might be good for someone whose income is mostly in the form of infrequent commissions or bonuses, someone who expects to earn a lot more in a few years, or someone who truly will invest the savings on the difference between an interest-only mortgage and an amortizing mortgage, and who is confident that the investments will make money. Financial advisers don't recommend interest-only mortgages to regular wage earners who take out moderate-size home loans and don't have a strategy for investing the savings.

Interest-only mortgages can be a great option now days for select types of individuals. If you ever decide to go this route, proceed with caution and be aware of your options at the end of the term.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

How to Improve Your Credit Even if it is Excellent

When you apply for almost any type of loan, one of the facts that lenders will use to make a decision is your credit score, also known as the FICO score. The lender obtains this three digit number (it ranges from 300 to 850) from one of the three major credit bureaus (Trans Union, Equifax, or Experian). Calculated by a formula developed by a company called Fair, Isaac & Company (hence the name FICO), this score represents to a lender your credit worthiness. It not only influences whether your loan is approved, but it also influences your interest rate, other loan terms, and in some cases the amount of your car insurance.

There are many things that people can do to improve their score, even if it is excellent. The first and easiest thing to do is to make sure you do not close your oldest credit card or credit line. Make sure to use it every few months and pay it off immediately if possible. Also, make sure that you are using thirty percent or less of your credit limit. If you are using a higher percentage, ask your lender to increase your limit so that your percentage of credit used goes down. Try and use as few credit cards as possible. Stay away from all the offers in the mail to open up new credit lines. The more new accounts you open, the lower your FICO score. If you close accounts, that can impact your credit too. Because you now have less available credit, the percentage of available credit to credit being used will decline, lowering your credit score.

The best formula to improving your credit score is to make payments on time, keep your balances low, and to check your credit report for errors periodically. There is a new government web site that allows you to check your credit for FREE from each of the three major credit bureaus. You can access it from my web site at www.abhuta.com. On the homepage please click on the link on the left hand side that says - Free Annual Credit Report.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Is Florida's Real Estate Bubble About to Burst?

Is Florida's real estate bubble about to burst? This is one of the questions I am asked most. Over the past year prices have gone up approximately 33% and 105% over the last five years. Because of this unbelievable appreciation, many people are scared the market is going to crash real hard.

In my opinion, I do not feel that way regarding single family homes. There are a few reasons why. After doing some research, I found out that between the middle of 2000 and 2004 there was a demand for nearly 560,000 new single family homes and only 540,000 could be built and delivered. If you also consider that approximately 15% percent of buyers are foreign and are getting great deals because of the devalued dollar, that more than one third of homes are second homes, and Florida still being a relative bargain for homes, the single family home market still looks strong.

As far as the condo market, I feel there will be a correction within the next few months. The main reason is the incredible amount of construction taking place. In Miami Dade County alone, there are estimates between sixty to a hundred thousand condos either in the application phase, planning or first phase, approved to be built, or under construction now. The number is staggering if you compare that to the 9,152 condos that were built between 1995 and 2005.

Please share your opinions with me.

Amit Bhuta
Real Estate Helper
Kendall VIllage Homes
(305) 439-3031
www.DadeCountyMLS.com

Florida Football Schedules and the Rest of the NFL

Below are the schedules for the Miami Dolphins, Miami Hurricanes, Florida Gators, and Florida State Seminoles. I also have the schedule for the Monday Night NFL games as well as the NFL playoff schedule. Just in case you aren't a Florida football fan, the schedules for the rest of the NFL teams are included.

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Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Miami-Dade County Public School Calendar

Below is the 2005-2006 Miami-Dade County Public School calendar. It shows all the holidays, teacher workdays, and the rest of the important days that you should be aware of.


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Due to the two hurricanes this year, there were some changes to the school calendar. To see an updated calendar, please go to http://www.dadeschools.net/calendars/2004-05.htm.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Real Estate Market Report (2nd Quarter 2005 Miami Dade County)

Every quarter I prepare a real estate market report for Miami Dade County. The report compares a three month period of this year compared to the same time period for last year. I hope it gives you a better understanding of the real estate market in Miami.


Please click on the image and maximize it when it opens so that the market report is easier to read.

Please click on the image and maximize it when it opens so that the market report is easier to read.


Please click on the image and maximize it when it opens so that the market report is easier to read.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Real Estate Market Report (1st Quarter 2005 Miami Dade County)

Every quarter I prepare a real estate market report for Miami Dade County. The report compares a three month period of this year compared to the same time period for last year. I hope it gives you a better understanding of the real estate market in Miami.

Please click on the image and maximize it when it opens so that the market report is easier to read.

Please click on the image and maximize it when it opens so that the market report is easier to read.


Please click on the image and maximize it when it opens so that the market report is easier to read.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com