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Kaya Wittenburg
Sky Five Properties CEO

   

Welcome to Sky Five Properties

Sky Five Properties provides cutting-edge market intelligence, supreme negotiation capabilities and superior dedication to you. We are the gateway to selling Miami real estate to the world through the most sophisticated network of agents and market specialists in the country. Whether you are looking to find luxurious condos for sale in Miami, waterfront homes for sale in Miami Beach or any other type of prime investment property, Sky Five will deliver exceptional, life-changing results.

In particular, we are experts in the highly sought-after communities of La Gorce Island, Pinetree Drive, Star Island and the Venetian Islands. These luxury communities are highly sought-after, and we have the knowledge to give you an unprecedented buying advantage. Each community has its own special character and with our diverse base of agents and Rolodex of buyers and sellers, we are able to deliver exceptional opportunities. Whether you are a first-time buyer looking for a starter home or a highly experienced buyer looking for a Fisher Island real estate, we have the outreach to deliver outstanding results.

As South Florida continues to grow, we keep a watchful eye on the key economic indicators that are critical to understanding market trends. When some communities buck the overall trend, we do the research to get to the bottom of the how and why of the micro-cycle. You won’t find another Miami real estate broker with this level of sophistication.

As you dive into our website, you’ll see that every bit of necessary analytical data has been formulated on the page and updated in real time. When clicking into an individual condo or house for analysis, you’ll be able to track the exact amount of monthly expenses for holding the property including homeowners association dues, property taxes and any principal & interest from a mortgage.

Once you have made progress in searching through our super-site of Miami luxury real estate, be sure to contact us. The greatest real estate investors will all tell you one common fact: success in real estate is predicated by the quality of your team. The Sky Five team has direct experience in closing thousands of luxury condos, condo hotels and homes in the beautiful region of South Florida. Together, we will form an unstoppable team that will bring your dream property into your life.

Start now. Change your life.

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MARKET INTELLIGENCE

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and more. Information is power, and Sky Five is dedicated to making you the most knowledgeable and powerful individual amongst your group of friends and family.

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Latest from the blog

Smart Investments for Newcomers: Top 3 Safest Strategies to Consider
July 22

Investing is a critical step toward financial stability and growth. As you embark on building your investment portfolio, it’s essential to educate yourself and seek expert guidance. 

An investment portfolio serves multiple purposes, including generating passive income, protecting against inflation, and helping achieve long-term financial goals. 

However, for beginners, the question often is: where do you get started? Here are the top three safest investment strategies for newcomers.

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Property Investment

Property investment is a popular choice for many, and for a good reason. Real estate tends to be a low-risk investment because property values generally appreciate over time. There are various strategies to invest in properties, depending on your budget. For those with substantial capital, purchasing rental properties can generate consistent rental income. Investing in commercial properties can also be lucrative, though it typically requires solid financing options.

For those with smaller budgets, real estate crowdfunding is an excellent option. Platforms like Fundrise and RealtyMogul allow you to invest in real estate projects with minimal capital, sometimes as low as $500. This way, you can own a fraction of a property and still benefit from rental income and property appreciation.

Gold Investment

Gold has long been considered a safe haven for investors, especially during economic uncertainty. The primary reason gold is seen as a low-risk investment is its ability to retain value. Unlike fiat currencies, gold is a finite resource, and its value is not susceptible to inflation.

There are several ways to invest in gold. You can buy physical gold in the form of bars or coins from reputable sources like Hero Bullion, ensuring the authenticity and purity of your investment. 

Another option is investing in gold exchange-traded funds (ETFs) or gold mining stocks, which provide exposure to gold prices without the need to store physical gold. Jewelry can also be an investment, but it typically comes with higher premiums and should be purchased with caution.

Cryptocurrency Holding

Cryptocurrency investments have gained significant popularity in recent years. Among the different strategies, “HODLing” – a term derived from a misspelled “hold” – is considered one of the safest. HODLing involves buying cryptocurrencies and holding onto them for an extended period, regardless of market volatility. This strategy is based on the belief that the value of cryptocurrencies like Bitcoin and Ethereum will increase over time.

HODLing is considered low-risk compared to active trading, which requires constant market monitoring and a deep understanding of market trends. For investors with little time and knowledge, HODLing is a viable strategy as it minimizes the need for frequent trading decisions and reduces the impact of short-term market fluctuations.

When comparing cryptocurrency investments to forex, crypto tends to be more suited for newcomers due to its long-term growth potential and less intensive monitoring requirements. 

Building an investment portfolio is a journey that evolves with you. Starting with low-risk investment strategies like property investment, gold investment, and cryptocurrency holding can provide a solid foundation. As you gain experience and confidence, your portfolio can grow to include a broader range of assets.

Working with a finance management expert can also be beneficial. These professionals can help manage your portfolio and provide advice on the best strategies tailored to your financial goals and risk tolerance. Remember, the key to successful investing is continuous learning and adapting your strategies to meet your changing financial needs and market conditions.

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Handling Mortgage Debt When Selling Your House 
July 19

Do you want to sell your home but are worried about the mortgage debt hanging over your head? Well, many homeowners find themselves in this situation, wondering how to navigate the tricky waters of selling a house when they still owe money on it.

The good news is that it’s not as complicated as it may seem. Whether you’re looking to upgrade, downsize, or maybe make a change, understanding how to handle your mortgage debt during a home sale can simplify the home-selling process.

With that in mind, here are a few tips on handling your mortgage loan when selling your house:

Research Your Home’s Market Value

You need to know your home’s market value before you sell. Do your research to understand what your home is worth in the local market. For example, if you want to sell a home in Los Angeles, ask yourself: Can you sell a house with a mortgage in Los Angeles? If so, how do you value it? This will help you set a fair price and estimate how much money you’ll make.

Here are three ways to determine your home’s value:

Hire a Professional Appraiser

Consider hiring a professional appraiser to value your home. They’ll inspect your property thoroughly, examining its condition and location. Then, they’ll compare it to similar homes sold nearby. This will give you a detailed, accurate report on your home’s worth, helping you price it right for the market.

Work with a Real Estate Agent

Consider teaming up with a real estate agent to price your home. They know your local market inside out. You’ll get a Comparative Market Analysis (CMA), showing how your home stacks up against similar properties. This helps you set a competitive price that attracts buyers while maximizing your profit.

Use Online Valuation Tools

Try online valuation tools for a quick home value estimate. These can give you a rough estimate based on public data. But these tools are just a starting point. They don’t factor in your home’s unique features or recent renovations. Use these tools to get a general idea, but don’t rely on them for your final pricing decision.

Understanding your home’s actual value is the key to a successful home sale. By using one or more methods, you’ll be well-equipped to price your home competitively and navigate the selling process with confidence.

Determine Your Mortgage Balance

You need to know your mortgage balance before selling your house. This balance is the amount you still owe on your home loan. To find it, check your latest mortgage statement or contact your mortgage lender directly.

Why is this important? Your mortgage balance affects your profit from the sale. For instance, if you owe USD$200,000 on your home and sell it at USD$300,000, you’ll have USD$100,00 left before selling costs. But if you owe USD$250,00, you’ll have less money remaining after the sale.

Knowing your balance helps you plan better. You can set a realistic asking price and decide if now is the right time to sell. It also allows you to estimate your potential gains. So, before listing your home, take time to understand these numbers.

Get a Payout Quote

After checking your mortgage balance, you need to get a quote from your mortgage lender. This quote tells you how much you must pay to settle your home loan fully. It’s more detailed and includes everything you owe.

The payoff quote typically covers the following:

  • The remaining loan principal
  • Any interest you owe
  • Possible extra fees or penalties

Note that these quotes aren’t permanent. They’re usually suitable for a limited time, often about 10 to 30 days. So, request your quote when you’re close to selling your house.

For example, if you plan to close on July 15, ask for a quote in late June or early July. This ensures the numbers are accurate when you’re ready to sell.

Calculate Your Net Proposal

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To determine how much you’ll make from the sale of your home, you’ll need to calculate your net proceeds. Start with the expected sale price. Subtract your remaining mortgage balance from this amount.

Next, account for the selling costs. These include:

  • Real estate agent commissions (typically 5-6% of sale price)
  • Closing costs
  • Home repairs and staging expenses
  • Title insurance
  • Transfer taxes

This calculation gives you a realistic view of your financial outcome. It helps you plan effectively for your next steps, whether you’re buying a new home or investing the proceeds. Understanding the net proposal ensures you’re financially prepared throughout the selling process.

Consider Your Options

Depending on your financial situation and market conditions, you have several options for handling your mortgage loan when selling your home. They include:

Traditional Sale

In a traditional sale, you sell your home for more than what you owe on your mortgage. The proceeds from the sale are used to pay off the mortgage, and any remaining funds go to you.

Short Sale

If your home is worth less than what you owe on your mortgage, you may consider a short sale. In a short sale, the mortgage lender agrees to accept less than the total amount owed to release the mortgage lien. This option can help you avoid foreclosure, but it requires lender approval and can impact your credit score.

Assumption of Mortgage

Some mortgages are assumable, meaning the buyer can take over your mortgage loan with the same terms. This can be an attractive option for buyers if your mortgage has a lower interest rate than current mortgage market rates. However, not all home loans are assumable, and the buyer must meet the lender’s qualifications.

Renting out Your Home

If selling isn’t an immediate option, consider renting out your home to cover your monthly mortgage payments. This can buy you time to wait for a better market or improve your financial situation.

Each option has its advantages and drawbacks, so carefully evaluate your specific circumstances before making a decision. Consider consulting with a financial advisor or real estate professional to determine the best path forward for your unique situation.

Prepare Your Home for Sale

Preparing your home for sale is essential to maximizing its value and attracting potential buyers. First, declutter and depersonalize. Pack away family photos and personal items to make potential buyers imagine their own lives in that space.

Next, tackle those minor repairs. Fix that dripping faucet to touch up clipped paint. These little improvements have a significant impact on buyers’ perceptions.

Consider staging your home. This isn’t just about furniture arrangement. It’s about creating an inviting atmosphere that showcases your home’s best features.

Don’t forget curb appeal. Mow the lawn, trim branches, and add some colorful flowers. A welcoming exterior draws buyers in. You want to sell a lifestyle, not just a home. Make it ready for buyers to fall in love with your house at first sight.

Close the Sale

The final stage of selling your home is closing. The buyer starts with a last walk-through, checking that your home is in the condition you promised. You’ll then receive a settlement statement breaking down all the money involved, what you’re getting, and what you’re paying.

Next, it’s time to sign papers. You’ll put your name on several documents, including the one that transfers ownership. Once you sign everything and the buyer’s loan comes through, you get paid. Your mortgage also gets paid off at this point.

Note that closing day can feel hectic. Stay calm and ask questions if anything’s unclear. Soon, you’ll have cash in hand and be ready for your next adventure.

Conclusion

Handling mortgage debt when selling your house can seem overwhelming at first, but with the correct information and preparation, you can do it smoothly and quickly. With a clear plan and the proper support, you can manage your mortgage debt confidently and move forward to your next chapter. Remember, you’re a step closer to your goal with each step. Be patient, informed, and prepared, and feel free to ask for help.

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