With the constant change and advance in technology, and being that millennials have all the information, understand how every dollar in their pocket is indebted, and realize that their own national currency is indebted to an-already indebted US Dollar,  enthusiasts see it as an alternative way of paying for regular things, and an option to acquire their home.

Maybe you have heard about cryptocurrencies, maybe you haven’t, but we are confident that you already have heard about Bitcoin and other cryptocurrencies.  With cryptocurrencies on the rise, it is time to get informed and learn some basic concepts that relate to the currency and the possibilities it offers.

What is Cryptocurrency?

It is a digital currency. It is a medium of exchange, created and stored electronically in a “blockchain” using encryption techniques to control the creation of monetary units and verify the transfer of funds. It emerged as a side product created in 2008, by Satoshi Nakamoto “A Peer-to-Peer Electronic Cash System .” This creation found a way to build a decentralized digital cash system.   

What is Blockchain?

It is the technology that establishes the digital currency. It allows digital information to be distributed, but not copied, meaning that each portion of the data can only have one owner.  It is described as a “digital ledger” in a network. The records are public and exist simultaneously in millions of places, which makes it harder to hack. The proponents of the blockchain call it  “a trustworthy system in a trustless world”.

The list of cryptocurrencies is long, some of them are certainly more common, and they started to make an impression in real estate, so for the effects of this article, we’ll focus our attention on Bitcoin.

What is Bitcoin?

It is the first and most famous digital currency, it works without a bank or intermediary. It has created wealth for investors, and some had cashed out and used it to buy their homes.  Some real estate sellers are willing to accept Bitcoin as payment.

With the marked evolution in technology, and the influence it has on the way businesses are operated and transactions are handled every day, cryptocurrency has a gigantic playfield in the real estate market.  In Florida, some real estate transactions have already closed using Bitcoin. A real estate transaction will be conducted for the most part the same as a cash transaction; however, Natalia Karayaneva, CEO of real estate startup Propy highlights “The main issue we’ve experienced is exchanging large amounts because sellers, very often, want to get paid in fiat,” she explains. “When payment is crypto to crypto, large amounts have to be sent in smaller portions as transactions are not reversible. This is because sending large amounts of crypto is still a risky process e.g. if a hacker swaps a public address, the transaction is not reversible.” For some sellers, it may be difficult feel confident to accept Bitcoin; in regards to the buyers, you may have to “sweeten the pot” for them to accept the cryptocurrency.

Sellers and buyers considering Bitcoin as a payment method should first look at the pros and cons before moving forward.

Pros and Cons of Buying and Selling Property with Bitcoin

Buyers and Sellers

The Pros:  An international currency, independent of a country or central bank, for a globalized economy, with the equivalent of cash, it provides:

  • Anonymity to its holders
  • Security from fraud and theft
  • No thirds parties needed
  • It appeals to younger and international buyers
The Cons:  Bitcoins advocates are hoarding it, for what they believe is hyperinflation, as they don’t trust the Federal government, neither the central banks.

  • Tax calculation could be big exasperating
  • Inability to verify the other person trustworthiness


The Pros

    • Faster option for transferring funds
    • Transaction can’t be reversed
    • Wider audience
  • Diversification of the investmest
The Cons

  • Potential losses due to volatility
  • Learning curve for the less tech-savvy


The Pros

  • Protection from inflation
  • Instant payment can be made to anyone, anywhere in the globe
  • Lower fees
  • Could miss out on unprecedented appreciation of the coin
The Cons

  • Limit number of sellers willing to accept the crypto coin
  • Could affect the trust of the buyer to be able to make payments if the market crashes

As for what to expect for Bitcoin in 2019,  it is uncertain, as the last two quarters of 2018 the cryptocurrency had tumbled. The magic about the coin was that it has a fixed supply, which is supposed to prevent manipulation and inflation.  We’ll have to wait to see what happens.

Contact us with any questions about our real estate closing services by phone (305) 865-5718 or by email  info@elitetitleagencyfl.com.

Owning a real estate property represents one of the biggest financial commitments you will incur. Once you have closed on the purchase, your property will become an important portion of your wealth.  The closing process implies several tasks and a series of steps that involve every party along the way: the real estate agent, the mortgage broker, the seller, the buyer, the inspector, and sometimes others may take part.

In Florida, once the seller and the buyer are in contract, typically, every step of the purchase process is supervised and facilitated by a real estate attorney or a title company which will prepare all paperwork related to transferring the property and emitting the new title to the buyer.  Also, the Florida Department of Financial Services controls the real estate transactions when an escrow fund has been created for the closing and when title insurance has been purchased.

What is the title?

It is a bundle of rights and serves as evidence of ownership of the real estate, it represents your legal rights in the property’s possession, use, control, and dispossession. It includes all previous ownership, uses, and transfers.

Before the property is legally transferred to the new owner, a title search must be performed to make sure the title is free and secures ownership. Even the most thorough search of the county public records may not reveal certain title defects on the property. For this reason, it is recommended to get title insurance, to protect against the possibility of future loss, should a challenge arise.  

What is an owner title insurance?

It is an insurance policy that protects the homebuyer for the full value of the property and from the following challenges that may occur in previous ownership:

  • Mistakes in the recording of legal documents,
  • Forged deeds, releases or wills,
  • Undisclosed or missing heirs, including spouses,
  • Deeds by persons of unsound mind,
  • Deeds by minors,
  • Deeds executed under an invalid or expired power of attorney,
  • Liens for unpaid taxes, and
  • Fraud.

How long does the owner’s title coverage last?

An owner’s title policy remain in force as long as you or your heirs have an interest in the property. The title insurance will protect the title for the buyer.  Before the emission of the title insurance policy, your title agent will check and review any defects such as unpaid taxes, a lien filed by a contractor, an assessment, or any other title defect, a thorough review will be made.  Without the protection of the title insurance, your investment is at risk.

How title insurance protects the owner?

The title insurance protects the owner from claims or rights that another party may have for unsettled claims from the previous property owners, prior the actual purchase.

Why homeowners should get title insurance?

Title insurance is a mandatory part of the mortgage process if the purchase is under a mortgage, the lender will require the home buyer to pay for the lender’s title insurance as part of the mortgage closing costs. If anything wrong appears with the title of the property, the title insurance pays the policyholder for the cost of perfecting your title rights or provides compensation if you lose the property altogether. Unfortunate to say, the record of deeds doesn’t guarantee accuracy in its records-keeping.  

The cost of the title insurance will depend on the amount of the loan, the down payment, and the credit score of the buyer. Remember the title policy never expires, and protects the buyer until he holds ownership of that property.

Are you or your clients looking to buy or sell a property?  Choose to work with an attorney owned and operated title company that can offer the best arrangements, maximum protection, and reasonable rates. Elite Ocean View Title Agency offers high-quality title company services and counts on years of experience. Call us today.

If you are in the business of selling homes, understanding the Millennials generation will help you as a Realtor to factor in their characteristics and behaviors and be able to market your listings, so it becomes easier to build relationships, gain trust, and close business with this generation.  

A Generation refers to a group of persons that grew up within the same time frame, experiencing similar events, common social, economic, historical, and political setting. Regardless of some disparity in details, it is understood that there are six American generations: the Pre-Depression, Depression, Baby Boom, Generation X, Generation Y, aka Millennials, and the Tweens aka Generation Z.  In this article, we are providing some keys on how to market the Millennials.

It is common to hear that “not enough millennials are buying homes like the previous generations.” Most of them are renting homes, or relocating from city to city, that buying a home is not their priority, but this is only true for the youngest of the generation. The older millennials are beginning to enter their peak spending years. They are now the largest part of the workforce and a great audience to target your listing because of their large spending power and presence in society, but you must understand them and know what catches their attention.

Millennials are typically in their mid-twenties to late-thirties. They are up to date with everything happening around them, are known for being tech-savvy and independent, have busy lives, spend good amount of time on social media, and settling at a later age.  Their motivation is different than previous generations.

Get the millennials attention when marketing your listing following these tips:

  • Be as helpful as you possibly can: millennials rarely have home buying experience. Typically they consult the internet, their parents, or older family members for advice on important matters like buying a house. They are also more likely to consult their friends before making purchase decisions.  
  • Be easy and patient to talk: be prepared with all the information at hand, to answer every question, since they will have a lot of them.  Make sure to breakdown the complexities of the process of buying a home.
  • Be friendly: millennials value good communication and friendships. They influence one another’s opinions and behaviors. It is more likely they will share their experience with their friends, and encourage them to also buy a home. Word-of-mouth is very important to them.
  • Make emphasis on the listing space: millennials appreciate their space and ambiance. Because they are social people and like to engage in group activities, they love to have friends over, host dinner parties and have plenty of space for their projects.  If you ask millennials about their dream home, it is more likely they have a home wish list that includes an open floor plan, abundant natural lighting, and a convenient location, this last is extremely important to millennials and will be a huge factor in whether or not millennials are interested in your home.  They need to be close to their activities or have easy access to the highways and the transportation options that take them there. Convenience and accessibility are keywords for millennials.
  • Respond fast to their inquiries: millennials love prompt online communication while using their phones. Be it phone calls, emails, or direct messages, or instant notifications with updates about your listing that interest them. Millennials love to receive their initial information online and they expect to have it fast. They value quick responses, or they’ll lose interest, they see a slow response a negative consumer experience. They are all about instant gratification “I want it fast, and I want it now.” They expect a faultless experience.
  • Build an online presence: millennials are “digital natives,” they get all their information online. It is relevant that your listing is published on all the social media platforms, especially Instagram and Facebook. Just make sure to share content that is appealing, and high resolutions photos that attract them. Millennials are captivated by simple, minimalist, and clean design. Good-quality videos definitely catch millennials’ interest. Presentation and delivery of the content are very important for this generation.

Keep these tips in mind when marketing your listings to millennials, so they feel at ease with the purchase of their home. Most of all remember, millennials can buy homes and once they really want something, they’ll make sure they get it. In addition,  millennials influence one another.

If you have questions about your real estate transaction and want to make sure it flows smoothly to a successful closing, contact us by phone (305) 865-5718 or by email  info@elitetitleagencyfl.com.


A title company performs several fundamental roles in day-to-day real estate transactions. It generally acts as the intermediary between the buyer, the seller, the insurance company, mortgage lenders, and any other party involved.  Title companies also search real estate titles’ histories to review the records of the property in order to advise the parties involved on the status of the property.

Title companies make sophisticated title searches for outstanding mortgages, liens, judgments, unpaid taxes, restrictions, easements, leases, legal actions, or anything else that might affect real property ownership.  After presenting the abstract of title, it issues a title opinion letter, a legal document that expresses the validity of the title.  It is common that title companies retain the escrow account funds and documents designated to protect the parties interests. 

A real estate attorney helps clients with legal issues related to real estate like prepare and review documents such as appraisals, agreements, mortgages, disputes, titles, file liens, draft deeds, transfer ownership documents, and oversee closings.  If you are buying a real estate property in Florida, you have the choice of hiring a title company or a real estate attorney to assist on the closing.

The question is: why would you hire a real estate attorney when you have the option to hire an attorney owned and operated title company?  It is very simple, an attorney owned and operated title company is established, managed, and controlled by an attorney. In addition, title companies must adhere to the American Land Title Association’s (ALTA) best practice standards and are regulated by the Florida Department of Financial Services. A title company plays a crucial role in the process, coordinating the real estate transaction since it starts until the closing. It facilitates the closing, issues the title insurance, files and records paperwork, helps protect your investment, and prevents you from expensive and often hidden potential problems that may place the ownership of your home or your client’s home in jeopardy.

Choosing an attorney owned and operated title company provides you with the comfort that if an issue arises, the legal advice is in-house, you have access to legal answers concerning the settlement and the necessary corrective documents, and solutions can be prepared immediately, eliminating the risk to delay the closing. Make sure you comply with the law every step of the way and guarantee moving forward without complications.

Working with Elite Ocean View Title Agency, an attorney owned and operated title company, you are hiring a team that has the legal knowledge, is in regulatory compliance, maintains clear and quick communication, and is ready to quickly overcome issues that may arise during your real estate transaction. We are proud members of the Attorneys Title Insurance Fund, a division of Florida’s largest title insurance underwriter, which supports and promotes the success of attorneys’ real estate practices. We are Secure Insight Trusted & Verified.

We adopt and sustain the use of best practices in title insurances and closing process pursuant to ALTA standards, as follow:

  • Obey with all state and federal laws and regulations,
  • Ensure that our employees are updated with newly released ALTA policies, procedures, and standards,
  • Provide sufficient protection for all customers’ personal and financial information.

We assist Realtors® with residential sales, commercial sales, short sales, and foreclosure. We offer equal professionalism and diligence to buyers, sellers, and lenders. We are a full-service, title, settlement, and escrow company with 17 years of experience formed of attorneys, paralegals, and significant support staff providing utmost efficiency and professionalism at reasonable rates.  We are committed to your success and helping you strengthen your relationship with your clients. 

Contact us with any questions about our real estate closing services by phone (305) 865-5718 or by email info@elitetitleagencyfl.com.

The profitability of renting luxury condominiums in South Florida is yet to be proven. The high inventory and output of extravagant amenities determining high prices, tied to the stagnation of wage-increase for potential renters have been a sign of trouble for the investors’ industry.

For investors, these condos lost their attraction to be considered a sound, profitable investment, after evaluating the cost of association fees, assessments, and taxes.

The downturn in prices for these condos, “already happened” said Josh Migdal, Miami attorney who represents clients in multiple jurisdictions and is known for his work on behalf of the Federal Deposit Insurance Corporation (FDIC) in the wake of the mortgage meltdown and the condo market.

Huge Supply of Million Dollar Condos

The condo oversupply is clear in luxury projects, yet absent in affordable projects. Condo Vultures’ website weekly distributes the Market Intelligence Report for residential real estate in Miami-Dade, Broward, and Palm Beach counties, recently reported that there is a 70-month supply for condos costing at least $1 million.

Last year,  a news report found a “home luxury glut”. There was a 124% increase in condos and luxury properties over the same time in comparison to the previous four years.

Last year, Ron Shuffield, President of EWM Realty International, a 54-year-old real estate brokerage, with 10 offices in South Florida said,  “There are more properties on the luxury market right now than we’ve ever had in history.”

Peter Zalewski, the founder of Condo Vultures, told the Herald, “there’s a 32-month supply of condos in downtown Miami alone, so the only way you’re going to move a condo in this market is to lower your price.”

Although in the second quarter of 2017, there was a median worth decline for condo/townhouse of 22% in zip code 33132, and 10.1% in zip code 33140, the recent trends in Miami real estate luxury prices finally saw growth in January of 2018, and have reached the highest price gains since July 2005. The luxury market in Miami is growing according to Danielle Hale, chief economist for realtor.com®.  

Shrinking Supply of Affordable Condos

There has been a crunch in affordable housing in the United States; consequently, affordability for renters is becoming an issue. Florida families spend more than half their income on rent, lead by a shrinking in the inventory of rental units and the increase of rental prices.

According to the Brooking Institute, a research leader non-profit organization for solving problems facing society at the local, national and global level, the supply of affordable condos within the $200,000 – $300,000 range in Miami-Dade has been shrinking, while the county’s median household income stays at $45,900.

The advice for investors looking for condos is to do their homework, analyze their investment prior to commitment, and align their costs with the return. Also, to look for alternatives outside the multi-million-dollar market areas with lower prices. An example of these areas is Homestead which has been undervalued, but where a significant appreciation has been occurring during the last two years.

Despite the variation in inventory supply, price, and climate change among other factors, it is well known that Miami-Dade is still one of the most attractive markets in the country to invest in real estate.

The relationship between an agent and buyers is a delicate dance that begins long before the sale and ends long afterward (if it ever ends at all). However, that process can be derailed when you’re not offering buyers the right touchpoints to make them feel special and keep yourself top of mind when it comes to their real estate needs. Here are X ways to create valuable touchpoints between buyers and sellers that will pay dividends down the road.

Make Yourself Helpful
You’re the expert on your region. Don’t just tell people, show people. Create a one-sheet or packet that includes all the relevant information a new buyer might need to feel comfortable buying a home here. Then pass it out to local businesses, local government offices, local hotels, and anyone else you can think of. Foster relationships so that when someone shows up asking questions, the company has your packet handy and ready to go. Don’t forget to plaster your face and contact info all over it, and show off your personality a little bit, so people feel like they get to know you. Then, when they’re ready to get serious about buying, they’ve already got your information handy and your face in their mind.

Make Everyone a V.I.P.
All your clients should be V.I.P.s for you, so make sure they know it. Plan an event and invite all of your leads and potential buyers as well as those who bought a home from you. Also, ask service providers that you work with (or want to work with). Roll out the red carpet. Get a photographer. See if you can get some local press to show up and cover the event. Hand out goody bags to all the guests. Make sure everyone leaves the party feeling valued and worthwhile because that’s what he or she is going to remember.

Make Yourself Available Online
Being personable in the real world is important but don’t think you can’t do the same thing online. That packet you made should also be available electronically. You can even expand it into an ebook full of experiences and tips. You want an online presence, but it takes more than just starting a Twitter account or opening a Facebook page. Interact with every comment, whether it’s a response or alike. Invite anyone and everyone to follow your pages. Encourage engagement by asking questions, proposing ideas, and inquiring about feedback.

Make Matches For Others
Part of the process for building your brand and touching other people is to make “selfless” acts. Helping to develop relationships in the community for others will come back to you in significant ways. If you know someone running a charity who needs help finding backers, put them in touch with good people you know in the community. If you have potential buyers or actual buyers who have trouble meeting new people, host a mixer at a local bar. Think that two local businesses might be able to help each other out? Put them in the room together and let them sort it out. You might not find immediate benefits from these touchpoints, but they’re the kinds of things people remember six months or a year later when they’re looking for help.

Make Sure to Follow Up
The end of the transaction isn’t the end of the relationship. Even if the sale falls through, there are ways to keep in touch with potential buyers without being a pest. A great way to stay in touch is to find an article that would be of interest to their specific needs and then send it their way with a note reading “thought this might interest you.” You can even find a neat article that speaks to a general audience and send it through a mail merge, so it looks more personalized. Not everyone will respond but you might be surprised to hear from a few people, and that’s your cue to follow up and see what their current needs might be.

Make a note of Special Dates
Chances are you’ve got a database full of information about your clients, past and present. Put it to good use any way you can. One great way to do that is to keep track of birthdays, anniversaries, and special occasions. Set up a system where you can be alerted when a client’s special day is coming up and then make sure you send them something. Could be a card, could be an email, whatever it is, make contact. If you want to take it to the next level, set up Google Alerts for the names of clients and see what pops up. You might find out that someone got a promotion or had a special event. Then you can reach out and offer your congrats. Who knows what might follow.

Make a note of Holidays, Too
While we’re keeping track of special days, why not keep track of holidays as well? Run through the calendar and call out opportunities you might have to reach out to your contacts and partners. Sure there are the big days like Memorial Day, Thanksgiving, and Christmas, but don’t overlook the secondary holidays that offer you a chance to get creative and stand out. Groundhog Day, Flag Day, and Veteran’s Day offer lots of opportunities for unique messages, mailings, and offers. Also, then there are all of the wacky holidays that seem to pop up all the time (National Hot Dog Day, National Hot Sauce Day). Surely you can have a field day getting creative in your messaging around them.

Make More Quality Interactions
A quality interaction can best be described as something more than just a phone call or email. We’re talking about in-person meetings or get-togethers. It can be one-on-one, but it doesn’t have to be. This could be you showing up at meetings for local clubs, at places of worship, for special nights at the local tavern, or at a fraternal organization. It’s not just about showing up, either, it’s about making your presence known. That could be anything from sponsorship to speaking up to just walking the room and introducing yourself. Don’t wait for opportunities to present themselves, every person there is a potential client or a current one who is waiting for the right motivation.

Elite Ocean View Title Agency is here to support your business

Have questions about making sure your next real estate transaction sails smoothly to a successful closing? You can make the process seamless and hassle-free by contacting Elite Ocean View Title Agency.