One quarter of Americans don’t even know their mortgage rate

One quarter of Americans don’t even know their mortgage rate

Around 27 percent of homeowners who responded to a Bankrate study said they don’t know what the interest rate is on their home (Credit: iStock)

Around 27 percent of homeowners who responded to a Bankrate study said they don’t know what the interest rate is on their home (Credit: iStock)

Mortgage rates hit a three-year low earlier this week, so is it time to refinance? That’s a tough question for one in four homeowners who don’t even know what their current rate is.

Around 27 percent of homeowners who responded to a Bankrate study said they don’t know what the interest rate is on their home, according to Fox Business. A third of homeowners between age 29 and 39 didn’t know their rate and 23 percent of people aged 56 to 74 don’t know their rate, the survey found.

The 30-year fixed-average fell to 3.45 percent this week, nearly a full percentage point below this time last year, and the lowest rate since the fall of 2016.

The lack of knowledge of some homeowners could lead to serious financial consequences for them. Around 11 million people could refinance their mortgages at current rates and save an average of $268 per month. Homeowners with adjustable-rate mortgages could find themselves unprepared for hikes.

Mortgage rates rose through 2018 as the Federal Reserve raised their benchmark interest rate, which heavily informs mortgage rates. That worried builders, who figured higher rates would discourage buyers, particularly those who live in areas with historically high home prices like Los Angeles.
The Fed steadied and then began dropping its interest rate last summer, bringing down mortgage rates with it. The benchmark rate has been 1.55 since November.
Buyer sentiment has been strong this winter, prompting more open houses than usual across the country. Low rates are expected to drive strong activity in the typically slow first quarter. [Fox Business] – Dennis Lynch

The post One quarter of Americans don’t even know their mortgage rate appeared first on The Real Deal Miami.

One quarter of Americans don’t even know their mortgage rate

Around 27 percent of homeowners who responded to a Bankrate study said they don’t know what the interest rate is on their home (Credit: iStock)

Around 27 percent of homeowners who responded to a Bankrate study said they don’t know what the interest rate is on their home (Credit: iStock)

Mortgage rates hit a three-year low earlier this week, so is it time to refinance? That’s a tough question for one in four homeowners who don’t even know what their current rate is.

Around 27 percent of homeowners who responded to a Bankrate study said they don’t know what the interest rate is on their home, according to Fox Business. A third of homeowners between age 29 and 39 didn’t know their rate and 23 percent of people aged 56 to 74 don’t know their rate, the survey found.

The 30-year fixed-average fell to 3.45 percent this week, nearly a full percentage point below this time last year, and the lowest rate since the fall of 2016.

The lack of knowledge of some homeowners could lead to serious financial consequences for them. Around 11 million people could refinance their mortgages at current rates and save an average of $268 per month. Homeowners with adjustable-rate mortgages could find themselves unprepared for hikes.

Mortgage rates rose through 2018 as the Federal Reserve raised their benchmark interest rate, which heavily informs mortgage rates. That worried builders, who figured higher rates would discourage buyers, particularly those who live in areas with historically high home prices like Los Angeles.
The Fed steadied and then began dropping its interest rate last summer, bringing down mortgage rates with it. The benchmark rate has been 1.55 since November.
Buyer sentiment has been strong this winter, prompting more open houses than usual across the country. Low rates are expected to drive strong activity in the typically slow first quarter. [Fox Business] – Dennis Lynch

Peach Room Presents ‘Love Motel' Valentine's Day Pop-Up at Basement Miami

Peach Room Presents ‘Love Motel' Valentine's Day Pop-Up at Basement Miami

Friday, February 14th
This Valentine’s Day, check into the ‘Love Motel’ and go all the way with the power of disco as Peach Room partners with Basement at The Miami Beach…

Conoce la cantidad de sexo que debes tener para ser feliz

Conoce la cantidad de sexo que debes tener para ser feliz

La cantidad de sexo que debes tener para ser feliz, según la ciencia. La realidad es que meterte a la cama con tu pareja es una de las mejores experiencias que pueden existir y lo mejor de todo es que tiene múltiples beneficios.

Por redacción MiamiDiario

Tener relaciones amorosas puede ayudarte a olvidar un día estresante, bajar unos kilitos y lo mejor de todo es que te ayuda a tener un estado de ánimo más positivo, después de una noche de pasión todos llegan contentos a la oficina, reportó SoyCarmin.

Un estudio reciente explica el número exacto de veces que una pareja debe tener relaciones amorosas para ser inmensamente feliz. Así que tienes que conocer esta información si lo que buscas estar siempre positivo.

Según un reconocido portal, la investigación fue publicada en Social Psychology and Personality Science y recopiló datos de más de 25,500 personas de entre 18 y 89 años para poder realizar el análisis.

En dicha investigación se explica que se requería tener relaciones amorosas una vez por semana para que las parejas mantengan una relación sana y feliz, como dicen importa más la calidad que la cantidad.

Ahora ya sabes la cantidad exacta de veces que debes irte a la cama con tu pareja para tener una relación más duradera y saludable. Recuerda que disfrutar de tu sexualidad puede tener grandes beneficios.

El mejor regalo que puedes darle a tu cuerpo es una noche de infinito placer. Llegó el momento de hacerle caso a las recomendaciones de los expertos, todo sea por cuidar tu salud.

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La entrada Conoce la cantidad de sexo que debes tener para ser feliz se publicó primero en Miami Diario.

Showfields to bring new retail concept to Lincoln Road

Showfields to bring new retail concept to Lincoln Road

Amir Zwickel and a Showfields store

Amir Zwickel and a Showfields store

The popular New York City retailer Showfields is heading to Lincoln Road.

Showfields will bring an indoor and outdoor food concept, a speakeasy bar, a theater for live performances, a tattoo parlor, piercing stations and space for art installations to a two-floor, 14,300-square-foot space at 530 Lincoln Road.

The store is part of the new trend of experiential retail, and allows for online brands to have showrooms in the store without the risks and costs of opening their own store.

Brandon Singer and Michael Cody of Cushman & Wakefield, Sara Wolfe of Koniver Stern Group, and Aaron Butler and Daniel Cardenas of Avenue Real Estate Partners worked on the deal.

The lease adds to several signed in the last several months on Lincoln Road, the heavily trafficked Miami Beach pedestrian retail destination. That includes the women’s apparel store Brandy Melville, which opened its flagship Florida store at 730 Lincoln Road last year.

The area historically has been one of the most popular streets in Miami Beach, but a number of vacant storefronts remain.

Showfields said it has already brought on Swedish watch brand Daniel Wellington and beauty brand Each & Every, along with 40-50 other brands that will be featured in the store.

Showfields is planning to open its Mami Beach store in May 2020. It opened its first location at a 14,000-square-foot space at 11 Bond Street in New York City a year ago.

The post Showfields to bring new retail concept to Lincoln Road appeared first on The Real Deal Miami.

Condo buyer sues Metropica developer over delays

Metropica and Joseph Kavana (Credit: iStock)

Metropica and Joseph Kavana (Credit: iStock)

Metropica has been pegged as a “city within a city” in western Broward County, a development that plans to span over 4 million square feet with more than 2,250 residential units overlooking the Florida Everglades.

But now, more than five years after launching sales for the first condo building at 2000 Metropica Way in Sunrise, called One Metropica, one couple is suing the development group over delays.

The buyers, Alvaro Juan Llosa and Olga Llosa, allege the unit was supposed to be completed by November 2019 under the terms of their contract and are seeking a refund of their $151,250 deposit, according to the complaint.

The Llosas put their deposit down for a $605,000 condo in the 28-story, 263-unit building in 2015, according to the suit. The couple wanted to be close to their grandchildren before “friends and cellphones become more of a priority,” the lawsuit alleges.

The couple alleges the contract requires that the unit be completed and delivered within three years after the estimated completion date of November 2016. So far, the building has not been completed.

Joseph Kavana of K Group Holdings, who is spearheading development of Metropica, called the lawsuit “groundless.”

“We are within the contract terms. We had some delays as it happens in any project,” Kavana said.

The lawsuit alleges that in August of last year, the development group said an electrical system serving multiple floors of the building sustained water damage and needed to be repaired.

In November 2019, the buyer’s attorney sent a notice of default to Metropica’s attorneys.

Kavana said the contract allows for the development group to have more time to complete the project if it runs into issues. He said the delays were caused mainly by infrastructure issues and also that its construction company and some subcontractors couldn’t deliver on time.

The project should receive its temporary certificate of occupancy by March, according to Kavana.

The Llosas want their deposit returned with earned interest. They are alleging breach of contract, unjust enrichment, and are seeking declaratory action.

In all, Metropica is $1.5 billion development that will include up to 485,000 square feet of retail space, 650,000 square feet of Class A office space, and public spaces in addition to the residential portion.

With units starting in the $450,000s, One Metropica is about 75 percent presold and the development group, according to Kavana.

On Collaborative by Coldwell Banker was tapped to take over sales and marketing of the building about a year ago, but Kavana recently brought sales in house. Kavana said the group is not planning to offer any incentives or discounts on remaining units to lure in buyers.

Next, the developer plans to launch sales for the second luxury residential tower this spring. Kavana hopes to complete the retail space by 2022. Construction will begin on 165,000 square feet of office space and a multifamily project in 2020.

Kavana is also seeking to fill the place of one major tenant, iPic after the movie theatre company declared bankruptcy in August. He said the group is in talks with two other movie theater companies to take its spot.

Introducing the Iguana Commuter: the World's Most Luxurious Amphibious Boat

Introducing the Iguana Commuter: the World's Most Luxurious Amphibious Boat

The Iguana Commuter Sport Exclusive is like a regular spped boat, only a hundred times cooler. We take a look at the amphibious craft—designed in Normandy, France, and offered at Miami’s…

¡Al fin! Sentenciaron al recluso que más tiempo lleva en prisión en Miami-Dade

¡Al fin! Sentenciaron al recluso que más tiempo lleva en prisión en Miami-Dade

Un hombre condenado por un doble asesinato en 2005 y conocido como el recluso de prisión más antiguo en el condado de Miami-Dade fue finalmente sentenciado el miércoles.

Por redacción MiamiDiario

Danyan Mangham, ahora de 43 años, fue condenado el mes pasado por los asesinatos de Robert Berriman y Jorge De Los Rios Jr. hace 15 años, reportó NBCmiami.

El miércoles, Mangham recibió múltiples cadenas perpetuas durante una audiencia.

«Tener esto estirado tanto tiempo, el dolor no sana», dijo el hermano de Robert Berriman, Chuck. «Es como tener una herida y te quitas la tirita».

Según los registros de las correcciones del condado de Miami-Dade, Mangham tiene la mayor estadía en la cárcel. La Oficina del Fiscal del Estado de Miami-Dade dijo que permaneció en la cárcel tanto tiempo porque su defensa presentó problemas de incompetencia de salud mental durante las audiencias judiciales que retrasaron el juicio de Mangham.

«La Oficina del Fiscal del Estado de Miami Dade nunca creyó que Dayan Mangham era incompetente o mentalmente enfermo y cuando este caso finalmente pudo presentarse ante un juez, el jurado lo condenó», decía en parte una declaración de la Oficina del Fiscal del Estado.

Antes de la audiencia del miércoles, Chuck Berriman prometió entregar una declaración en la corte.

«Hablaré desde el corazón», dijo.

La madre de Berriman seguía esperando justicia incluso en su lecho de muerte hace varios años.

«En su lecho de muerte, me hizo prometer que estaría allí», dijo Chuck Berriman.

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Douglas Elliman, Bluemercury among new tenants at CocoWalk

Douglas Elliman, Bluemercury among new tenants at CocoWalk

Jay Parker and a rendering of CocoWalk

Jay Parker and a rendering of CocoWalk

Douglas Elliman relocated its Coconut Grove office to the under-construction CocoWalk, where newly announced tenants include Bluemercury and Narbona Natural Foods & Farm Market.

Elliman opened in a 3,099-square-foot space at 3059 Grand Avenue. The brokerage was previously operating out of 2950 Southwest 27th Avenue. It signed a five-year lease at CocoWalk, according to a spokesperson.

Martha Pomares, managing broker in Coconut Grove, will continue to lead the office. Elliman is handling sales of the nearby Mr. C Residences, which is being developed by Terra.

CocoWalk, owned by Federal Realty Investment Trust, Grass River Property and the Comras Company, is in the midst of a major redevelopment.

Narbona Natural Foods & Farm Market, a specialty market out of Uruguay, is leasing 8,253 square feet at the mixed-use shopping mall. It will have a butcher shop, bakery, tasting room, cafe, and sell items such as fresh pastas, cheeses, craft beer, wine and coffee.

Sweetgreen recently announced it would be opening at CocoWalk. Other tenants will include Planta, a plant-based restaurant led by Steven Salm’s Chase Hospitality Group and co-founder and Executive Chef David Lee; Salt & Straw; pizzeria Mister 01 Extraordinary; The Spot Barbershop; Edward Beiner; The School of Rock; and Los Generales Mezcal & Grill.

The Comras Company is handling retail leasing.

When the redevelopment is completed, CocoWalk will include a total of 100,000 square feet of office space and 150,000 square feet of retail, dining and entertainment space. The partnership paid about $87.5 million for the property in May 2015. CocoWalk opened in 1990.

One Cocowalk, a five-story, nearly 86,000-square-foot office building is nearly completed. Tenants will include co-working operator Spaces and Boyne Capital Partners, a private equity firm.

The post Douglas Elliman, Bluemercury among new tenants at CocoWalk appeared first on The Real Deal Miami.

Co-working entrepreneur Jamie Hodari breaks down his unusual daily routine

Jamie Hodari (Photo by Axel Dupeux)

Jamie Hodari, CEO of the co-working company Industrious and an avowed night owl, actually begins his day an hour before the clock does — planning out each workday starting at 11 p.m. the night before. That helps Hodari, 38, remain confident about prospects for the company he co-founded in 2012 even after last year’s sudden and dramatic downfall of co-working giant WeWork cast a pall over the entire sector. Hodari said his role has become progressively more outward-facing as Industrious has grown and changed its business model from leasing space to focusing on partnerships and management contracts. And the firm continues to expand doubling in size annually for the last six years — now boasting locations at 215 Park Avenue South by Union Square and 594 Dean Street in Prospect Heights, Brooklyn, plus recently opened spots at 31 Hudson Yards, 325 Hudson Street in Soho and 1411 Broadway by Bryant Park. It also has outposts in 46 other cities, including Miami, Los Angeles and Chicago. That growth has led to several partnerships, including one with Equinox that ultimately led Hodari to start working out for the first time since ninth grade, when a high school soccer coach’s vow never to let him on the field led him to quit sports and exercise for about 22 years. Hodari got married in New Orleans in January with a wedding that featured a karaoke contest, a scavenger hunt and a trivia contest, along with flamenco dancers and a Latin jazz band.

11:00 p.m. I’m a night owl, so when I think about a workday, I have this 11 p.m. to 1 a.m. slot when I always work, and it’s not really like wrapping up the work of that day. It’s like preparing my thoughts for the next day, so the day really starts the night before. I’ll also try to get some writing done then that really involves deep thinking, synthesizing complex issues or company strategy. I find I’m so much better at that once the city is asleep. Part of the reason for that is I’m not a morning person.

1:00 a.m. I’ll do some leisure reading. I read 90 percent fiction and 10 percent business books. I don’t totally know what it says about me, but I find a novel is more likely to make me more engaged at work.

2:00 a.m. I go to sleep. I usually get about five and a half hours. I will say the nights where I’ve gotten seven to eight hours of sleep, I feel amazing, but five and a half works for me as well.

Equinox Flatiron

7:30 a.m. I wake up. A few days a week, I’ll go to the Equinox right near our headquarters. We started doing this big partnership with Equinox last year, and I was spending a lot of time with its CEO and president. They were on my ass about how I had never been to a gym before, and they convinced me to start working out. I’m not running the New York City Marathon anytime soon, but I’ll go two or three times a week.

9:00 a.m. I go to work. The morning is mostly made up of internal meetings — either executive team meetings, investment committee meetings or one-on-ones with various executives. I’ll also spend mornings staying on top of emails — I finally cracked the code to staying at inbox zero — and interviewing people. The company has doubled in size every year for the last six years, so hiring has been a major part of my day for a very long time now.

12:00 p.m. I go to lunch with a colleague. Union Square has got to be the testing ground for every fast casual or mid-priced restaurant in America. I feel like we’ve been here for two years, and I still haven’t tried half the restaurants within two blocks of us. My favorite place is probably a Japanese restaurant called Ennju.

1:00 p.m. I’ll head out of the office for a few external meetings. Industrious used to do what other co-working providers do, which is sign leases with landlords. Two years ago, we stopped doing that and moved to doing only management contracts or partnership agreements with landlords, which requires a lot more interaction and face time, and usually they’re not coming to you.

4:00 p.m. I work out of, tour or just spend time at one of our New York City locations. It’s important to be with the product to see how your customers are experiencing it. I need to observe — see what the pain points are, see what’s going well — and I find that engenders a lot of new ideas or leaps forward in strategy.

Industrious at Equinox Hudson Yards

6:00 p.m. I’ll go out for drinks with an investor or landlord partner. That used to be one day a week, but now it’s almost every weekday. We usually go to Boucherie if it’s Union Square, or if it’s uptown I really like a Japanese jazz bar called Tomi Jazz. I think our industry — outside of Industrious — has at times had an adversarial relationship with landlords. In order to combat that, it requires more pure relationship-building time than would otherwise be the case.

8:00 p.m. I’ll have dinner with my wife or friends. I would say we cook way more often than the average New Yorker. We used to have a more modern apartment in Cobble Hill, and then we moved to this old wooden house in Prospect Heights that just feels cozier and more inviting, so we’ll usually cook.

9:00 p.m. My wife and I go to trivia night a lot on Tuesdays, either at Building on Bond in Boerum Hill or at Franklin Park in Crown Heights, and we go to a comedy show once or twice a month. I’m almost 40 — that’s life — and I do feel like there’s a little bit of this “last hurrah” of getting to do a lot of exciting and interesting stuff in New York. I suspect, once we start to have children, that will change.