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Home listing prices rising in Florida

by Kijner & Sons International Realty

According to FloridaRealtors®.com, Florida cities have had the largest year-over-year increases in average list prices. Based on the latest real estate data from Realtor.com of 2.2 million listings in 146 markets for the month of August, Florida cities make up nine of the top 10 places for highest year-over-year list price spikes.

Nationwide, the average list price is $320,325, up 2.36 percent year-over-year.

Here are the top 15 cities boasting the highest percentage of year-over-year increases in average list prices.

1. Miami
Average list price: $640,332
Year-over-year increase: 27.4%

2. Fort Myers-Cape Coral, Fla.
Average list price: $443,570
Year-over-year increase: 26.27%

3. Central-Fla. rural service area

Average list price: $405,809
Year-over-year increase: 19.41%

4. Punta Gorda, Fla.

Average list price: $267,066
Year-over-year increase: 16.37%

5. Macon, Ga.
Average list price: $193,520
Year-over-year increase: 15.98%

6. Sarasota-Bradenton, Fla.
Average list price: $466,785
Year-over-year increase: 15.86%

7. Naples, Fla.

Average list price: $713,087
Year-over-year increase: 15.13%

8. West Palm Beach-Boca Raton, Fla.
Average list price: $591,895
Year-over-year increase: 14.68%

9. Ocala, Fla.
Average list price: $193,360
Year-over-year increase: 12.07%

10. Lakeland-Winter Haven, Fla.
Average list price: $181,409
Year-over-year increase: 11.48%

11. Orlando, Fla.
Average list price: $319,419
Year-over-year increase: 10.56%

12. Portland-Vancouver, Ore.-Wash.
Average list price: $314,537
Year-over-year increase: 10.52%

13. Boise City, Idaho
Average list price: $212,588
Year-over-year increase: 10.43%

14. Springfield, Illinois
Average list price: $174,537
Year-over-year increase: 9.12%

15. Shreveport-Bossier City, La.
Average list price: $211,414
Year-over-year increase: 8.34%

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Source: Melissa Dittmann Tracey, Realtor® Magazine Daily News, Florida Realtors®

Premium Processing for the EB-5

by Kijner & Sons International Realty

The Director of USCIS, Alejandro Mayorkas, announced on May 19, 2011, a proposal to implement premium processing of cases under the EB-5 program. The significance of premium processing is that it is a program under which USCIS, in return for an additional fee of $1,225, currently, commits itself to deciding the case, or taking further action on the case by requesting additional evidence, within 15 days. There was a public comment period for the proposal that ended on June 17, 2011. On August 2, 2011, Director Mayorkas announced that within 30 days, USCIS will take the first step to implement premium processing for the EB-5 program. This does not mean that the program will be available then, but rather that USCIS will finish the first of multiple steps directed toward implementing premium processing for the EB-5 program.

An EB-5 investor's ability to file the I-526 petition with premium processing will depend on the regional center, in which he or she invested, obtaining USCIS's approval of its project ahead of time under the application procedures for the I-924 application. The I-924 application is currently used for obtaining approval of a regional center designation or of an amendment to an existing regional center designation. However, under the new procedures, either an entity that is just applying for its designation as a regional center could also present a project for approval of its eligibility for premium processing, or an existing regional center could apply to have its latest project approved as eligible for premium processing. A crucial factor in determining whether a project would qualify as eligible for premium processing is the extent to which work under the project can begin right after approval of the EB-5 investors' I-526 petitions, at which point the investment funds are normally released to the regional center's project. If the project is ready to that extent, then the regional center can opt to pay the additional fee for premium processing for the I-924 application, which would result in a processing time of 15 days. Otherwise, for such projects, if the regional center does not opt for premium processing, USCIS would, nevertheless, commit itself to a processing time of no more than 2 months. If the project is not ready to this extent, or the project is still only hypothetical, then the processing of the I-924 application could take up to 5 months or longer.

Once USCIS gives EB-5 investors the option to use the premium processing service for their I-526 petition, this will be a tremendous benefit to EB-5 investors from multiple perspectives. First, this will constitute a considerable improvement over the current processing time of 6-8 months for a decision on the I-526 petition. Second, there will be greater certainty that the I-526 will not be denied due to the regional center's project, since it will have been approved under the I-924 application process. Third, the availability of premium processing will improve EB-5 investors' chances to complete the process to obtain conditional permanent residence prior to the sunset of the EB-5 Immigrant Investor Pilot Program, which is the EB-5 program for the regional centers, on September 30, 2012. Fourth, for those EB-5 investors with a specific need for faster processing, such as those who are already living in the U.S. under a visa that will soon expire, or those EB-5 investors living outside of the U.S. who have plans to get their kids into school or university by a certain starting date, have a job offer in the U.S. with a certain starting date, or have other urgent plans to move to the U.S., the premium processing option for the I-526 petition will be tremendously beneficial.

When will premium processing of the I-526 petition become available? In remarks during the USCIS EB-5 Stakeholder Meeting on June 30, 2011, Director Mayorkas explained that premium processing will be phased in after USCIS accomplishes several steps in preparation. He stated, then on August 2, 2011, that the first step in implementing premium processing of the I-526 petition, will occur within 30 days of August 2, 2011. The remaining steps will presumably be accomplished over the coming weeks and months. Even once premium processing becomes available, regional centers will have to go through the process of applying for approval of their project to make it eligible for premium processing. Therefore, it will take an additional 15 days to 2 months for regional centers to obtain approval of projects that they can offer them as eligible for premium processing. So, we are looking at several months, at least, before premium processing will become effectively available to the public.

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Source: Article courtesy of our exclusive partner Anthony Olson, P.A., Immigration Law Firm (Sarasota, FL, August 21st, 2011)

September 2011 Housing Trends eNewsletter

by Kijner & Sons International Realty

We are pleased to share with you the September 2011 Housing Trends eNewsletter. Just click on the following link: http://DKijner.housingtrendsenewsletter.com.

This eNewsletter is filled with local and national real estate and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, consumer videos, blogs, real estate glossary, mortgage rates and calculators, consumers articles, and REALTORS.com local community reports.

Your Property Wish List

by Kijner & Sons International Realty

What does your future home in Sarasota or Miami Florida look like? Where is it located? As you hunt down your dream home, consult this list from Kijner &Sons International Realty to evaluate properties and keep your priorities top of mind. 

□        Neighborhoods

What neighborhoods do you prefer?

□        Schools

What school systems do you want to be near?

□        Transportation

How close must the home be to these amenities:

  • Public transportation                        
  • Airport
  • Expressway
  • Neighborhood shopping
  • Schools
  • Other

□        Home Style

  • What architectural style(s) of homes do you prefer?
  • Do you want to buy a home, condominium, or townhome?
  • Would you like a one-story or two-story home?
  • How many bedrooms must your new home have?
  • How many bathrooms must your new home have? 

□        Home Condition

  • Do you prefer a new home or an existing home?
  • If you’re looking for an existing home, how old of a home would you consider?
  • How much repair or renovation would you be willing to do?
  • Do you have special needs that your home must meet?
□        Home Features
 
 
Please circle one of the choices: Must Have, Would Like, Willing to Compromise, Not Important  
 

□        Other notes:
 

 

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Source: The National Association of Realtors® (NAR



Sarasota Real Estate Market Trending Toward Normalcy

by Kijner & Sons International Realty

Kijner & Sons International Realty is pleased to announce that according to the Sarasota Association of Realtors® (SAR), "a steady drop in property inventory for sale [to 4,408], combined with a stable sales demand in the Sarasota Real Estate market, is pointing toward normalcy, healthy property appreciation in the coming months". As for numbers, a total of 601 properties were sold in August 2011 in the Sarasota, Florida area, an almost 6% increase from August 2010 with 567 sales. There were 445 single family homes and 156 condos sold last month with a median sales price for both of $165,000. As for pending sales, they rose to 813.  

To read the full August 2011 SAR Report and get all the statistics, please click here

To learn more about real estate opportunities in the Sarasota area, contact us at info@kijner.com.

ILMH Wealth Survey - Real Estate and Lifestyle

by Kijner & Sons International Realty

Kijner & Sons International Realty is pleased to share with you the latest market research studies from the Institute for Luxury Home Marketing. The ILMH in partnership with the NYC-based Luxury Institute have compiled the following report on the most affluent and wealthy Americans, their tastes, preferences, spending plans, ect to find out what they have on their mind when it comes to real estate.

To download the full report, please click here

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Source: ILMH, Wealth Survey - Real Estate & Lifestyles 2011 

Thai Real Estate Delegation in Paris

by Kijner & Sons International Realty

During their recent trip to Paris on September 10th, 2011, the Thai Real Estate delegation, led by Dr. Sopon Pornchokchai, President of the the Thai Appraisal Foundation and of the Agency for Real Estate Affairs (AREA) met with Mr. Daniel Kijner, Senior Broker Owner of Kijner & Sons International Realty and Mr. Pierre-Antoine Menez, Vice President of the FNAIM Ile de France and President of the FNAIM International Business Council (IBC). The delegation enjoyed a delicious Thai meal while learning more about the French residential and commercial real estate market. Mr. Daniel Kijner who helped coordinate the event also gave a thorough overview of the Paris Real Estate Market to the Thai real estate professionals.  



 

From left to right,
Mr. Daniel Kijner, Senior Broker Owner of KSI Realty
Mr. Pierre Antoine Menez, Vice President of the FNAIM Ile de France
Dr. Sopon Pornchokchai, President of the the Thai Appraisal Foundation and of the AREA (on the far right)


From left to right,
Mr. Daniel Kijner, Senior Broker Owner of Kijner & Sons International Realty
Mr. Pierre Antoine Menez, Vice President of the FNAIM Ile de France
Dr. Sopon Pornchokchai, President of the the Thai Appraisal Foundation and of the AREA (on the far right)


Mr. Pierre Antoine Menez
Vice President of the FNAIM Ile de France
President of the FNAIM International Business Council (IBC)
 

How Big of a Mortgage Can I Afford?

by Kijner & Sons International Realty

Not only does owning a home in Sarasota or Miami, Florida give you a haven for yourself and your family, it also makes great financial sense because of the tax benefits — which you can’t take advantage of when paying rent.

The following calculation assumes a 28 percent income tax bracket. If your bracket is higher, your savings will be, too. Based on your current rent, use this calculation to figure out how much mortgage you can afford.

Rent: _________________________

Multiplier: x 1.32

Mortgage payment: _________________________

Because of tax deductions, you can make a mortgage payment — including taxes and insurance — that is approximately one-third larger than your current rent payment and end up with the same amount of income.

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Source:

For more help, use Fannie Mae’s online mortgage calculators

The National Association of Realtors® (NAR)

Global Perspectives

by Kijner & Sons International Realty

Kijner & Sons International Realty is pleased to share with you the August 2011 issue of NAR's "Global Perspectives". Get a detailed snapshot of the latest U.S.Census with key facts about changing demographics and implications to real estate professionals. 


Global Perspectives August 2011
View more documents from REALTORS
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Source: The National Association of Realtors® (NAR)

Bon Appétit! Thailand

by Kijner & Sons International Realty

If you find yourself in the heart of Bangkok Central Business District, stop by the Balcony Lounge and Humidor inside the InterContinental Hotel to enjoy their posh afternoon tea. The lounge is also a perfect place for after-work meetings if you are a Whisky and cigar aficionado. 

 

 

InterContinental Hotel
The Balcony Lounge and Humidor

973 Ploenchit Road, Patumwan
10330, Thailand
Tel.: + 66 (0)2 656 0444
BTS: Chit Lom

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83-85 Boulevard de Charonne, 75011 Paris, France


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