CBS4 News Magazine by CBS4 News Magazine & Newspaper

Keep an Eye

on Your Money! Companies are making big bucks on “grey charges” Pg.28

Electronic

Cigarettes: Are they safe? Pg.04

Enjoy a

Getaway on

Layaway! Pg.26

KEY BISCAYNE

Bidding

Wars Hit The Local real Estate Market

Stay Informed! 2013 cbs4 Hurricane Guide inside Pg.35

nEW

real estate section Pg.16

Contents

Key Biscayne October 2013

Featured Editorial

12 |

Bidding Wars Hit The Local Real Estate Market Bidding wars are becoming more and more popular in the South Florida real estate market. Some argue this new trend is due to high rent prices and low inventory, but could it be that homeowners are intentionally under-pricing their homes?

04|

Should You Trust Electronic Cigarrettes?

33 |

A new alternative for millions of Americans who buy tobaco products each years has hit the market, but their popularity is rising questions: Are they safe?

06|

CBS4 News Super Kids: A True Inspiration -- Zelda. A legendary teen, known in schools across the country as Zelda, is making history by making a difference in her community.

26 | 28|

Just half of the dozen small cars the Insurance Institute for Highway Safety featured in recent crash tests managed to earn a good or acceptable rating from the test group.

Special Sections

Sponsored By

Companies Run Off With Your Money Through “Grey Charges” Imagine paying out extra cash each month, even hundreds of dollars a year, but you have no idea! You may not know about what are called “grey charges,” but they are legal and companies are taking advantage of them!

31|

Do Multivitamins do more Harm than good? Many people use vitamins to make up for shortcomings in their diets but taking big doses could actually be counterproductive.

Real Estate

PROPERTIES SOLD IN YOUR AREA

Enjoy A Getaway On Layaway! You probably associate “layaway” with the hustle and bustle of holiday shopping, but some travelers have used the age-old payment plan to make an easy getaway.

Small Cars Struggle In New Crash Tests

2013

HURRICANE SEASON Guide And Tracking Map

Home Improvement

Marketplace

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[ 2 ] October 2013 CBS4 News Magazine Key Biscayne

Should You Trust

Electronic Cigarettes? Forty-six million Americans buy tobacco products each year, but one alternative for them is getting a lot of attention â&#x20AC;&#x201C; electronic cigarettes. This year they will become a billion dollar industry, but their popularity is raising questions.

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“I have a lot more lung capacity, more energy, pigmentation of my skin, I sleep better at night and I can go on and on” But,

Are They Safe?

“I’m

31 now and I’ve been smoking since I was 13 and gradually over the years I smoked more and more until I reached the two pack a day mark” said Oscar Rodriguez. Rodriguez made the switch to electronic cigarettes, or e-cigs. “I was lucky to have quit gradually and now I can’t imagine going back to cigarettes,” said Rodriguez. E-cigs are battery powered devices that mimic the sensation of smoking a real cigarette without tobacco and without combustion. They deliver nicotine through a smoke like vapor and when exhaled there’s no odor.

E-cigs have actually been on the market for almost a decade but in the past few months the industry has exploded. In 2011, sales of e-cigs were around $300 million. In 2012 they doubled to $600 million. This year analysts say that number will most likely triple to nearly $2 billion dollars. But that’s just a fraction of the $80 billion dollars Americans will spend on traditional smoking products. So with so many Americans opting for them many have wondered if e-cigarettes safer?

Lung specialist Dr. Richard Thurer, from University of Miami’s Miller School of Medicine believes they are – somewhat. “While e-cigarettes, as far as the lungs are concerned, are somewhat safer the cardiovascular effects of nicotine still remain,” said Thurer. The effects of nicotine include high blood pressure and constriction of the body’s arteries. It’s still unclear how much safer e-cigarettes mostly because there is no federal oversight over them. The FDA does not currently regulate e-cigs meaning manufacturers don’t have to disclose what’s inside. “There’s not been very many studies on them and studies they have done indicate that there are different compounds that differ between different manufacturers,” said Thurer. Despite the question marks surrounding their safety, Rodriguez said there is no question how much they have helped him. “I have a lot more lung capacity, more energy, pigmentation of my skin, I sleep better at night and I can go on and on,” said Rodriguez. Big tobacco companies are not watching the booming sales of e-cigs from the side lines, they are cashing in too. Each of the three big tobacco companies has introduced its own e-cigarette or bought an existing brand.

October 2013 CBS4 News Magazine Key Biscayne [ 5 ]

A True Inspiration By Michele Gillen

ZELDA You might think 17-years old is a bit young to be so legendary, that youâ&#x20AC;&#x2122;re known in schools across the country by just your first name, but thatâ&#x20AC;&#x2122;s exactly the case for a young South Florida teen named Zelda.

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hile she is a member of the National Honor Society and class Vice-President, her success goes way beyond that. Growing up with barely enough to buy pens and paper for school, she’s shaking up how students perceive themselves and rocking our world enough to be a selected as a CBS4 News “Super Kid.” “You are never too young to be a mentor. Everything you get, you have to give back to the community,” explained Gricelda Ramos to CBS4’s Michele Gillen when the two met on the first day of her senior year at Mast Academy on Key Biscayne. “I am so ready to be back at school,” she joyfully told Gillen. At 17-years-old Gricelda, is considered a mentor extraordinaire, a modern day pied piper for kids, who she tutors and inspires for hours each and every day. They call her Zelda. That’s the name of a videogame princess but Zelda is writing her own legacy as a real life warrior. “When people see me I want them to see me not as a princess but as a warrior, and somebody who is going to make a difference,” said Zelda. “When I hear people say ‘Zelda,’ I want them to feel that I am fighting for everything, for my future, for my academics, for happiness, for everything. That’s what I feel when people say ‘Zelda’.”

“When I hear people say ‘Zelda,’ I want them to feel that I am fighting for everything, for my future, for my academics, for happiness, for everything. That’s what I feel when people say ‘Zelda’” She explained she finds joy in being a warrior because “At the end of the day you have fought for what you believe in and others not only admire you, and it’s not about admiration, but you inspire others. It’s like a constant domino effect,” shared the 17-year-old. Zelda was born, raised and lives in Little Havana. She travels each day to Mast Academy where she scores top grades. This year, she got noticed by teachers across the country because she wrote a treatise on not being defined by your zip code. “Where I grew up, people center on drugs, alcohol, promiscuity and they infiltrate to kids’ minds that this is where you are going, this all that you are ever going to achieve. And I am showing that it is not,” she passionately shared.

Raised by a single parent, her mom cleans homes for a living, scrubbing floors to polish a vision of the American Dream for her daughter. “School to me, it means the world to me. I love school,” she is proud to admit. But it is Zelda’s compassion that stands her apart. At 15, she and her good friend Camilia, also a Mast Academy student, created the non-profit campaign Temporary Pain/Enduring Beauty to raise funds for girls across the globe who’ve been bullied, abused, and disfigured in horrors like acid attacks. In particular shining light on the organization Acid Survivors Trust.

October 2013 CBS4 News Magazine Key Biscayne [ 7 ]

“T

heir lives have not ended because of how they look,” she explained to Gillen. The project grew from her own pain and tears; as an adolescent she was chided for not being pretty enough. “I was taunted for looks and appearances. At times I can resonate with these girls because I know what it felt like at one point to feel just worthless. God, myself, people have restored the feelings of beauty, outer beauty, inner beauty, inside of me. I want those girls to feel the same. Because at one point I felt alone but I realized you are never alone,” she explained. “Beauty is not everything. But as a young girl I understand how it feels like. When I hear stories of the young girls who say they want to die, I want to bring them back hope in any way that I can. That’s my message to them. You are not alone. Ever.” She said her heart burns for those girls who have paid such a price for wanting to learn and study, which is something she values so much. “Some girls are disfigured because they wanted to get an education, this is me saying they might have burned your face, but they have not burned your passion your determination, your fire.” For such a young girl, Zelda often speaks lyrically on issues of the heart. She reflected on the moment she decided she would not waste any more time on her own tears. “Sometimes you let it consume you and sometimes it becomes you. One day I decided I am not wearing this sadness anymore. I took it off,” she proudly explained. “I look in a mirror and I see a future now.”

“Beauty is not everything. But as a young girl I understand how it feels like. When I hear stories of the young girls who say they want to die, I want to bring them back hope in any way that I can. That’s my message to them. You are not alone. Ever.”

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She’s helping others have a chance at one as well. For $3.00 donations, she and her team take photo portraits and post them on their Facebook page with an inspiring message. “The picture is more like a memorandum. Hey you made a difference. You helped someone’s life,” said Zelda. Those photos were hard to take at one point because Zelda and her team didn’t have their own camera. They always had to borrow one. When the CBS4 Super Kid Team found out, they went into action and helped give her reason to smile. The first chapter of the surprise was unveiled at the place that is her home away from home, The Leadership Learning Center in Little Havana. It’s where she tutors other children and where she first met mentors who helped her with education, scholarships and more. Board member and philanthropist Norma Jean Abraham turned out to personally deliver a top of the line digital/video camera package for Zelda and her team.

“We are really proud of you and I got you something that I think might help you out,” a glowing Abraham announced, “Yes, your own camera!” Zelda’s glee was infectious as she was surrounded by dozens of applauding children. Zelda cradled the brand-new camera and fought back tears of happiness, “For every kid with a dream this is for you!” Her next stop will be a private photography lesson with internationally renowned Italian artist Luca Arioli who is famous for his portraits of hope he captures in the most impoverished areas of the world. “This is what you have to capture, the smiles,” Luca explained as he walked Zelda through one of his award winning photo books. In poverty stricken villages in India, his pictures hauntingly captured smiles

that bloom like flowers within barren desserts.” Zip codes don’t matter. Zelda tenderly touched each page as Luca gave her tips on how to photograph. The lesson was a perfect fit. “I’m honored to meet her. You have the strength, all the tools and you have this now and this will be an opportunity to capture amazing projects,” said Luca. So add a new mentor in Zelda’s corner, Luca’s heart touched by a Super Kid who found true beauty and whose fingerprint on life has already touched so many others. “I decided that I would try to be an inspiration to everybody. To kids, to adults, just inspire people because I knew that I’m never going back to that place again.” But the first person she had to inspire, “was myself,” she added.

October 2013 CBS4 News Magazine Key Biscayne [ 9 ]

Coffee Shops

Limit Wi-Fi Discourage ‘Laptop Hobos’

By Vanessa Borge

is a common sight in coffee shops all over South Florida; a person with a cup of coffee, an opened laptop, and no intention of going anywhere. These patrons have even earned themselves a nickname: “Laptop Hobos.”

“I am probably a laptop hobo,” said Kevin Kavanaugh. “I’ve been a free bird since last July and I spend most of my time at coffee houses. That is where I have my meetings.” Some coffee shops, like Starbucks, offer unlimited free Wi-Fi but not every coffee shop is as generous.

Some shops, overwhelmed by people surfing the web and holding business meetings, are developing more restrictive policies with their Wi-Fi or getting rid of it altogether. Panera bread is one example. It’s cutting users off after a half hour during their busiest hours.

“Some shops, overwhelmed by people surfing the web and holding business meetings, are developing more restrictive policies with their Wi-Fi or getting rid of it altogether”

CBSMIAMI.COM

Suzanne Mello uses the free-WiFi at her local coffee shop and said policies like that are too severe. “I would probably just go to another store if that is the case. Where ever I can get free Wi-Fi and AC and they let me stay is good.” Michael Oshins, a professor of hospitality said it is a predicament for businesses. Disputes over outlets and cords dragged across busy lobbies are also common problems. “All of a sudden it kind of snowballs into, I can stay here for, this can actually become my office, I don’t have to pay rent any more,

this can become my free space.” Oshins believes these shops have a tough balance to achieve. They obviously need paying customers, but there is also value in looking busy. “It’s like, this place is happening. I want to go there. So all of a sudden it creates that customers become part of the environment or the ambiance, if you will, and all of a sudden it is more welcoming,” said Oshins. So if a coffee shop or restaurant opts to make it a more welcoming environment, they may have to be prepared to manage tables and laptop electrical cords.

October 2013 CBS4 News Magazine Key Biscayne [ 11 ]

Bidding

Wars Hit The Local real Estate Market

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Brandt Elliot found his dream home the day it went on the market, and he knew he had to move fast.

“I

was the first one to see it at 10 o’clock. By 4 o’clock, when I had sent my wife over there in the afternoon, they had already had another offer,” said Elliot. Not sure he’d find another house he liked as much, Elliot placed a competing offer. “I was a little surprised to get in a bidding war because it was literally less than a day,” said Elliot. But bidding wars are becoming more and more the norm, according to Jennifer McKinney with the National Association of Realtors, who blames high rent prices and low inventory. “Inventory has everything to do with bidding wars right now. It’s basic economics. It’s supply and demand,” said McKinney. Some argue sellers are intentionally under-pricing homes — a tactic to get multiple offers and sell quickly — but McKinney disagrees. “I think sellers are really pricing their property to sell and it’s causing a flurry of activity and buyers are having to overbid in order to secure a property,” said McKinney. Real estate attorney Elizabeth Vinings sees it, too. “Just today, I have a seller who had 17 offers on their home,” said Vinings. Some of the contracts clearing her desk involve all-cash purchases — a strategy McKinney says typically gets the win when it comes to bidding wars. Many times it’s an investor making the cash offer, and that means the average homebuyer loses out.

October 2013 CBS4 News Magazine Key Biscayne [ 13 ]

“Obviously, if you put a cash offer up versus a 5, 10 percent offer, and investors are willing to waive more contingencies, the investor’s chances are they’re going to win,” said McKinney. Contract contingencies are a big part of the bidding process, too, and Vining sees buyers putting themselves at real risk in order to beat out the competition. The three she sees most often: the seller negotiating to remain in the property, even after closing; the buyer waiving the right to a home inspection; and the third, waiving the mortgage contingency, which may mean the buyer has to bring a lot more money to the closing table. “If a year ago you were buying a house and you’re putting 20 percent down, you would have a mortgage contingency for a mortgage of 80 percent of your purchase price. To get a mortgage of 80 percent, the property has to appraise for the purchase price. And therein lies the rub right now. Because people are bidding with multiple offers, they’re often not supported by the appraisals,” said Vining. That means a buyer has to come up with the difference. “They are doing it, because I feel like a lot of buyers are desperate,” said McKinney. Elliot feels he was lucky with his bidding war. “The only compromise we made was price, and frankly, I think the seller was under-valuing the price,” said Elliot. Sellers face risks, too, and have to be careful to choose the right bid. The highest may not be the best. For instance, if the buyer’s financing falls through, you’re back to square one and it doesn’t matter how high the offer was. So there are several factors to consider when selling.

“They are doing it, because I feel like a lot of buyers are desperate” [ 14 ] October 2013 CBS4 News Magazine Key Biscayne

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“Sellers face risks, too, and have to be careful to choose the right bid. The highest may not be the best. For instance, if the buyer’s financing falls through, you’re back to square one and it doesn’t matter how high the offer was”

YOU’VE BEEN

OUTBID

Real Estate Sponsored By

Listings in this section are based on properties sold in the month of july 2013 and retrieved from zillow.com. Not all properties sold are listed. Not responsible for typographical errors and/or omissions. Photographs are for illustration purposes only.

[ 16 ] October 2013 CBS4 News Magazine Key Biscayne

Content provided by www.Zillow.com

Looking For A

A Better Housing Finance Solution That Isn’t the Enemy of the Best Solution

After months of robust home value appreciation, the US housing market recovery is on very solid footing. We can now begin to turn away from housing’s ugly recent history and start contemplating its future, specifically the future of housing finance.

hat President Obama and representatives from both parties in the House and Senate have recognized this fact as well is encouraging. The president has taken his housing message directly to consumers, through means both conventional — speeches and talking points — and decidedly 21st century, accepting questions via social media during a recent event hosted by Zillow. But for all the attention the president’s actions have generated, his largely non-controversial principles generally describe accepted points of consensus: Yes, we need more

private-sector participation in the housing market. Having two government-sponsored entities (Fannie Mae and Freddie Mac) responsible for the securitization of the majority of mortgages written in this country is anathema to an economy as promarket as the US. And yes, we do want to ensure widespread access to low-cost, fixedrate, 30-year mortgages. The 30-year, fixed-rate mortgage is the bedrock of the current housing finance system in the US. It has allowed tens of millions of low-income and middleclass buyers to achieve homeownership over the past several decades.

Real Estate

Content provided by www.Zillow.com

But outside of the current system, which most everybody agrees needs to be changed, it’s very difficult to have this particular flavor housing cake and eat it too.

here are currently two proposals for reforming the housing finance system. The first, more conservative proposal was recently introduced in the House of Representatives by representative Jeb Hensarling (a Republican

from Texas). It would essentially fully privatize the mortgage market, leaving private capital to take on all the risks— and reap the rewards—of mortgage financing. But for private lenders to accept that risk without any federal backstop, the 30-year, fixed-rate mortgage would become very expensive for the typical consumer as lenders charged more to take on more risk, and/or would require potentially very restrictive credit qualifications. The 30-year, fixed-rate mortgage would likely be replaced by

adjustable-rate mortgages. I personally don’t think this would be such a bad thing (most other countries use them predominantly without major mishap), but most Americans disagree with me, and public policy should somewhat reflect public preferences. The second, less conservative plan has been introduced in the Senate by senators Bob Corker (Republican from Tennessee) and Mark Warner (Democrat from Virginia). It would replace Fannie and Freddie with a single, government-backed entity,

October 2013 CBS4 News Magazine Key Biscayne [ 19 ]

Real Estate

Sold Properties in Key Biscayne October 2013

251 Crandon Blvd, Apt 536, Key Biscayne, FL 33149 1121 Crandon Blvd, Apt F501, Key Biscayne, FL 33149 701 Crandon Blvd, Apt 301, Key Biscayne, FL 33149 2 Beds / 2 Bath | 1,532 sq. ft. | Condo - Lot | Built in: 1979 Sold: 7/17/2013 | $870,000

2 Beds / 2 Bath | 1,782 sq. ft. | Condo - Lot | Built in: 1971 Sold: 7/15/2013 | $926,000

2 Beds / 2 Bath | 1,700 sq. ft. | Condo - Lot | Built in: 1998 Sold: 8/1/2013 | $1,035000

600 Grapetree Dr, Apt 3BS, Key Biscayne, FL 33149

881 Ocean Dr, Apt 13F, Key Biscayne, FL 33149

432 Glenridge Rd, Miami, FL 33149

3 Beds / 3 Bath | 2,523 sq. ft. | Condo - Lot | Built in: 1974 Sold: 7/23/2013 | $1,145,000

2 Beds / 2 Bath | 1,875 sq. ft. | Condo - Lot | Built in: 1971 Sold: 9/4/2013 | $1,150,000

3 Beds / 2 Bath | 1,132 sq. ft. | 7,819 sq. ft. Lot | Built in: 1951 Sold: 8/2/2013 | $1,300,000

120 Buttonwood Dr, Key Biscayne, FL 33149

515 Warren Ln, Key Biscayne, FL 33149

781 Crandon Blvd, Apt 905, Key Biscayne, FL 33149 2 Beds / 2.5 Bath | 2,100 sq. ft. | Condo - Lot | Built in: 1999 Sold: 8/21/2013 | $1,825,000

Listings provided by www.Zillow.com

745 Myrtlewood Ln, Key Biscayne, FL 33149

475 Woodcrest Rd, Key Biscayne, FL 33149

601 Harbor Dr, Key Biscayne, FL 33149

765 Crandon Blvd, Apt 101, Key Biscayne, FL 33149 4 Beds / 5.5 Bath | 3,502 sq. ft. | Condo - Lot | Built in: 2002 Sold: 9/3/2013 | $2,450,000

541 S Mashta Dr, Key Biscayne, FL 33149

791 Crandon Blvd, Apt 307, Key Biscayne, FL 33149

4 Beds / 5.5 Bath | 3,581 sq. ft. | Condo - Lot | Built in: 2001 Sold: 6/25/2013 | $3,250,000

100 Sunrise Dr, Apt 35, Key Biscayne, FL 33149

201 Galen Dr, Apt 214, Key Biscayne, FL 33149

255 Sunrise Dr, Apt 204, Key Biscayne, FL 33149

1 Beds / 1 Bath | 530 sq. ft. | Condo - Lot | Built in: 1964 Sold: 7/23/2013 | $190,000

1 Beds / 1.5 Bath | 854 sq. ft. | Condo - Lot | Built in: 1968 Sold: 8/1/2013 | $220,000

1 Beds / 1 Bath | 676 sq. ft. | Condo - Lot | Built in: 1965 Sold: 9/5/2013 | $295,000

240 Galen Dr, Apt 109, Key Biscayne, FL 33149 3 Beds / 2 Bath | 1,100 sq. ft. | Condo - Lot | Built in: 1967 Sold: 8/30/2013 | $345,000

151 Crandon Blvd, Apt 429, Key Biscayne, FL 33149 155 Ocean Lane Dr, Apt 906, Key Biscayne, FL 33149 2 Beds / 2 Bath | 1,532 sq. ft. | Condo - Lot | Built in: 1980 Sold: 8/29/2013 | $425,000

1 Beds / 1.5 Bath | 895 sq. ft. | Condo - Lot | Built in: 1973 Sold: 8/14/2013 | $435,000

1111 Crandon Blvd, Apt B1105, Key Biscayne, FL 33149 161 Crandon Blvd, Apt 211, Key Biscayne, FL 33149 1121 Crandon Blvd, Apt E501, Key Biscayne, FL 33149 2 Beds / 2 Bath | 1,409 sq. ft. | Condo - Lot | Built in: 1972 Sold: 8/15/2013 | $485,700

2 Beds / 2 Bath | 1,720 sq. ft. | Condo - Lot | Built in: 1981 Sold: 8/15/2013 | $605,000

2 Beds / 2 Bath | 1,782 sq. ft. | Condo - Lot | Built in: 1971 Sold: 7/19/2013 | $870,000

October 2013 CBS4 News Magazine Key Biscayne [ 21 ]

Real Estate

L u xu ry P roPerties

Miami-Dade County

420 W Rivo Alto Dr, Miami Beach, FL 33139

1 E Dilido Dr, Miami Beach, FL 33139

50 S Pointe DrAPT 3301, Miami Beach, FL 33139

4 Beds / 3 Bath | 3,701 sq. ft. | 0.31 acre Lot | Built in: 1936 Sold: 8/16/2013 | $15,079,600

6 Beds / 7.5 Bath | 7,829 sq. ft. | 0.39 acre Lot | Built in: 2012 Sold: 6/25/2013 | $14,000,000

3 Beds / 3.5 Bath | 4,933 sq. ft. | Condo - Lot | Built in: 2008 Sold: 6/24/2013 | $13,000,000

7964 Fisher Island Dr, #7964, Miami Beach, FL 33109

2142 N Bay Rd, Miami Beach, FL 33140

100 S Pointe DrAPT 2008, Miami Beach, FL 33139

6 Beds / 7 Bath | 6,820 sq. ft. | Condo - Lot | Built in: 1989 Sold: 8/2/2013 | $8,200,000

7 Beds / 7.5 Bath | 5,141 sq. ft. | 0.46 acre Lot | Built in: 1925 Sold: 8/7/2013 | $6,750,000

3 Beds / 3 Bath | 3,423 sq. ft. | Condo - Lot | Built in: 2002 Sold: 7/8/2013 | $6,730,000

900 Brickell Key Blvd, Apt 3401, Miami, FL 33131 190 Casuarina Concourse, Coral Gables, FL 33143 5 Beds / 7 Bath | 4,635 sq. ft. | Condo - Lot | Built in: 2008 Sold: 8/22/2013 | $6,633,000

1520 W 28th St, Miami Beach, FL 33140

Listings provided by www.Zillow.com

400 Alton Rd, Apt 3601, Miami Beach, FL 33139 18101 Collins Ave, # 5509, Sunny Isles Beach, FL 33160 4 Beds / 4 Bath | 3,979 sq. ft. | Condo - Lot | Built in: 2003 Sold: 7/31/2013 | $5,100,000

4 Beds / 4.5 Bath | 4,141 sq. ft. | Condo - Lot | Built in: 2006 Sold: 9/3/2013 | $5,000,000

6000 Island Blvd, PH 4, Aventura, FL 33160 4 Beds / 6 Bath | 6,377 sq. ft. | Condo - Lot | Built in: 2005 Sold: 8/8/2013 | $4,650,000

33 E Dilido Dr, Miami Beach, FL 33139

1000 S Pointe Dr, # TH-M1, Miami Beach, FL 33139

50 S Pointe Dr, Apt 3202, Miami Beach, FL 33139

4 Beds / 4 Bath | 3,074 sq. ft. | 0.31 acre Lot | Built in: 1958 Sold: 8/7/2013 | $4,600,000

3 Beds / 3.5 Bath | 2,986 sq. ft. | n/a acre Lot | Built in: 2002 Sold: 7/17/2013 | $4,525,000

5 Beds / 6 Bath | 5,329 sq. ft. | Condo - Lot | Built in: 2008 Sold: 6/24/2013 | $4,300,000

101 20th St, # 2907, Miami Beach, FL 33139

1000 S Pointe Dr, Apt 3202, Miami Beach, FL 33139

5332 Fisher Island Dr, # 5332, Miami Beach, FL 33109

2 Beds / 2 Bath | 1,407 sq. ft. | Condo - Lot | Built in: 2005 Sold: 8/27/2013 | $4,299,999

4 Beds / 4 Bath | 2,618 sq. ft. | Condo - Lot | Built in: 2002 Sold: 8/21/2013 | $3,700,000

4 Beds / 5 Bath | 6,300 sq. ft. | Condo - Lot | Built in: 1991 Sold: 8/23/2013 | $3,800,000

October 2013 CBS4 News Magazine Key Biscayne [ 23 ]

Real Estate

Content provided by www.Zillow.com

we create the new housing finance plowshare. It would be easier to smoothly transition from Fannie and Freddie to a single insurance entity for mortgages (like the FDIC for bank deposits). It keeps a lot of elements of the current system—such as widespread access to the 30-year, fixed-rate mortgage—and it likely has some protections built in for rainy days, including keeping credit flowing even when fully private credit might dry up. responsible only for insuring, for a fee, securities created by private lenders. Moreover, these lenders would have to absorb a 10% loss before the government steps in. I am generally a very pro-market economist, and there is a powerful allure to the idea of a fully private mortgage system. Were I designing a new system from scratch, I might prefer the challenge of going fully private. Given enough time, I think we could find ways to address the problems of reduced mortgage access in a fully privatized framework. But I’m also pragmatic. We’re not designing a system from scratch. In that sense, something similar to the Corker/Warner idea should be the pig iron from which

Of course, there is a third option. Now that the worst of the housing recession is behind us, and now that Fannie and Freddie are making the government (and by association, taxpayers) so much money, it might be very tempting to do nothing at all. But this is by far the least palatable choice. The time has come to move our mortgage finance system past the crisis-induced holding pattern it’s been in for so long. The consensus around an idea like that proposed by Corker and Warner seems to be growing. If that’s the case, it’s time to get something done. This article was provided by www.Lowes.com.

October 2013 CBS4 News Magazine Key Biscayne [ 25 ]

Enjoy a

Getaway Layaway!

CBSMIAMI.COM

Most People ofof taking a fabulous vacation, but ManyDream people dream

paradise is often financially out of reach. Now, a new trend lets travelers book their trips and pay for them later.

ost people probably associate “layaway” with the hustle and bustle of holiday shopping, but some travelers have used the age-old payment plan to make an easy getaway. “You can put any kind of trip on layaway,” said AirfareWatchdog.com founder George Hobica. Savvy travelers have started using layaway to book dream vacations and pay for them at a later date. “It offers me the opportunity to put down very little money at the beginning,” said Richard Popkin. Experts said that most families can’t afford to pay for a vacation up front. “A typical vacation will cost $2,000 or $3,000 for a family of four,” said Hobica. “People just don’t have that money saved up.” “Vaca Layaway,” as it is called, can help travellers pay for a trip over time in installments or in a lump sum before they take off. “We empower the consumer to have the flexibility to book a vacation up to 18 months before the trip is going to take place,” said travel expert Marty Seslow. Tough economic times have brought vacation layaway to the forefront, but it isn’t just for the budget conscious. “We see the folks that are on a budget and a shoe-string budget taking advantage of this,” said Seslow. “And then we see folks at the higher end of the spectrum buying a more deluxe vacation experience.” There are other benefits to traveling on layaway. According to experts, it affords travelers the opportunity to lock in the price of a trip and avoid credit card interest charges. However, not all plans are created equal. Some will refund money or help defer certain costs if problems arise, while others will not. “You really have to make sure that you have some travel insurance and study the cancellation policies,” said Hobica. Popkin said he will be going to South America in the fall. “It’s a lot easier to make that decision to pounce or don’t pounce when it’s only a small amount of money,” said Popkin. More cruise lines, resorts, and many travel agents are offering layaway as an option. October 2013 CBS4 News Magazine Key Biscayne [ 27 ]

Companies

Run Off With Your Money Through “Grey Charges”

Imagine paying out extra cash each month, even hundreds of dollars a year, but you have no idea! You may not know about what are called “grey charges.”

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“They’re legal. They’re sneaky. And they’re ways for companies to make big bucks”

hey’re legal. They’re sneaky. And they’re ways for companies to make big bucks. From the bottom of the ocean, to snow top covered mountains, travel blogger Kim Orlando writes and tweets about her many adventures. To make life on the road easier she paid a company for a trial subscription to track reaction to her tweets. “I thought I was going to pay $149 for that one month,” said Orlando. Instead she was billed four months in a row, which is something Orlando said she never signed up for and referred to an email from a company representative as proof. She said, “I thought well this is fishy.” Experts said a “trial subscription turned permanent” is just one type of “grey charge.” Financial expert Jeffrey Cutter explained, “Grey charges are unwanted sneaky little charges that are, that are starting to show up on consumers’ credit statements and bank statements.” So how do businesses get away with it? A survey found “8 out of 10 people merely skim their credit card and bank statements”. “I’m embarrassed to say that it took me four months to figure out I had been billed every month,” said Orlando. What other grey charges could pop up on your bills? “Unknown subscriptions” are when you make an online purchase and forget to click or unclick one little box, so you end up opting in for another purchase. Another way for companies to run off with your money are zombie subscriptions. If you cancel a gym membership or a magazine subscription, sometimes a few months later the

charges come back from the dead. One more creepy charge? “Cost creep” is where a monthly subscription slowly increases in price. Many grey charges are legal if businesses spell them out in those “terms and conditions” most of us just gloss over. “Make sure when you are purchasing anything, or uh that you read everything and understand exactly what you’re doing; that’s partially your job,” Jerry Cerasale of the Direct Marketing Association. Federal regulations require that offers be “clearly and conspicuously” disclosed. The Federal Trade Commission said sometimes they’re a misunderstanding but admits other times companies just don’t follow the rules. “There are bad actors, but don’t let that stop you. Trust the good marketers,” said Cerasale. Kim challenged her grey charges, but says the company insists she signed up, so it’s now in dispute with her credit card company. Despite her busy travel schedule, she’s now going to check every charge on her statements and had this message for those “bad actors”. “That’s just going to make me an unhappy customer. I’m certainly not going to sign up for anything that they have to offer in the future,” said Orlando. The Direct Marketing Association and Federal Trade Commission have taken action against companies who charge consumers without properly disclosing the conditions of an offer.

If you feel you’ve been unfairly charged, you can report it by visiting: www.consumer.ftc.gov/articles/0068how-buying-plans-work

October 2013 CBS4 News Magazine Key Biscayne [ 29 ]

CBSMIAMI.COM

Do Multivitamins Do

More Harm Than Good? By Rhiannon Ally Many people use vitamins to make up for shortcomings in their diets but taking big doses could actually do more harm than good.

Dr.

Olveen Carrasquillo, the Chief of General Internal Medicine at the University Of Miami School Of Medicine, told CBS4’s Rhiannon Ally, “Leading a healthy lifestyle is difficult.” While taking a multivitamin may help, a new book, “Do you Believe in Magic?” warns that taking supplements in super high doses may be dangerous. “There are 20 studies that show too much vitamins can actually shorten your life,” said author Dr. Paul Offit. Mega-doses of certain vitamins may increase the risk for heart disease and cancer, according to Dr. Offit. Specifically, doses that are 5, 10, sometimes 20 times greater than the recommended daily allowance for these nutrients. “By challenging mother nature in taking these vitamins and concentrating them to these exceptionally large quantities that you would never normally eat, you’ve got to be careful,” said Dr. Offit.

Dr. Carrasquillo believes there are certain high doses you need to avoid more than others. “In general as doctors, we advise the fat soluble vitamins: A,D,E,K, but the evidence is best for limiting vitamin E.” But, he also said moderation is key when taking any vitamin. Unless you are under a doctor’s advice to take a higher dose due to a vitamin deficiency. “A lot of people have vitamin D deficiencies, even places with a lot of sun and sometimes we’ll place people on high doses of vitamin D to replace it, but that’s short term, medical monitoring,” said Dr. Carrasquillo. Dr. Carrasquillo and Dr. Offit both say there is no magic pill, but for most people, taking a regular multivitamin is fine, but there is no substitute for eating plenty of fruits and vegetables.

October 2013 CBS4 News Magazine Key Biscayne [ 31 ]

CBSMIAMI.COM

Small Cars Struggle In

New Crash Tests

Just half of the dozen small cars the Insurance Institute for Highway Safety featured in recent crash tests managed to earn a good or acceptable rating from the group.

nly two cars, the twodoor and four-door Honda Civic earned a top rating of good from the IIHS. The Dodge Dart, Hyundai Elantra, and 2014 Scion tC earned acceptable ratings in the overlap crash tests performed by the insurance group. The overlap test tries to simulate what happens when the front corner of a vehicle hit another vehicle or an object like a tree or utility pole. The test features one-quarter of the front end hitting a five-foot-tall barrier at 40 miles per hour. “The small cars with marginal or poor ratings had some of the same structural and restraint system issues as other models we’ve tested,” says David Zuby, the Institute’s chief research officer. “In the worst cases safety cages collapsed, driver airbags moved sideways with unstable steering columns and the dummy’s

head hit the instrument panel. Side curtain airbags didn’t deploy or didn’t provide enough forward coverage to make a difference. All of this adds up to marginal or poor protection in a small overlap crash.” The new VW Beetle had problems during the test with the steering column moving five inches to the right while the crash test dummy’s head moved forward and to the left. The Beetle’s seatbelt also spooled too much sending the dummy forward 13 inches and the side curtain airbag didn’t deploy, according to the IIHS. As a result, the Beetle received just a marginal rating overall. The worst performer in the small group though was the Kia Forte. From too much seat belt slack to lack of airbag deployment, the IIHS said the Forte’s crash allowed the dummy’s head to hit the windshield pillar and the instrument panel.

“Manufacturers need to focus on the whole package,” Zuby says. “That means a strong occupant compartment that resists the kinds of intrusion we see in a frontal crash like this, safety belts that prevent a driver from pitching too far forward and side curtain airbags to cushion a head at risk of hitting the dashboard or window frame.”

“Manufacturers need to focus on the whole package”

October 2013 CBS4 News Magazine Key Biscayne [ 33 ]

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BEWARE. A LITTLE BACK PAIN CAN BECOME A LONG-TERM

DISABILITY

[ 34 ] October 2013 CBS4 News Magazine Key Biscayne

Just about everyone has back pain now and then, but, according to recent research, the back pain people suffer from now, could possibly indicate more back troubles to come.

ccording to a study printed in the Journal of Pain, severe, short-term back pain could be a forerunner to long-term pain and disability. “Your body just gets old. Things get old, your spine gets old. The lubrication of the joints and all that,” said neurologist Dr. Jack Wilberger. “If you have it now it’s probably gonna come up again. We sort of nip it in the butt, so to speak. Hopefully we don’t have any long term issues.” The study followed after nearly 500 people who were treated for low back pain answered questionnaires every six months for a period of five years. People with high pain levels at the start had a 12 percent higher risk of back pain at six months, nine percent higher risk at five years. “This is the type of information that we really need to have particularly in a preventative way,” said Dr. Wilberger. Short-term low back pain isn’t necessarily due to a disc being out of place, but rather inflammation in the joints from stress and strain. The customary approach is short-term treatment of the inflammation, but as the study suggests, long-term monitoring may be helpful. Short-term treatment includes rest and antiinflammatory medication. Long-term includes weight loss, exercise to maintain good muscle tone along the spine, not smoking and good lifting technique with your legs muscles and not your back muscles can be ways to keep pain away. Keeping a bright outlook may help, too. In the study, those who believed they would have persistent pain had a four percent higher risk at six months and a six percent higher risk at five years. “There may be a secondary reason that they need to have low back pain, so to speak. Because it impacts a number of different areas of life, especially work,” said Dr. Wilberger.

2013 CBS4 Hurricane Guide Special Section

Home Improvement

Content provided by www.Lowes.com

Low-Cost

deCorating ProjeCtS

After purchasing your new home, your remaining budget may be small, but that doesn’t mean you have to postpone decorating. These projects are guaranteed to yield big results in a single afternoon without breaking your bank account. Wall of Style: Create an aCCent Wall Focus your decorating efforts and dollars on transforming one wall into a wow wall. Good candidates for this project include: • The first wall you see when entering your home. • The wall behind a headboard, sofa or dining table • A wall that bumps out or indents to form an alcove Next, apply one of the following treatments, taking the style to the next level: Paint: Choose a brighter or richer color than you’d typically use. Or try a specialty paint with a textured finish or metallic luster. WallPaPer: Go for a bold pattern or color. Consider woven grass cloth, textured, flocked or metallic paper. StenCilS: Try a wall-size design or use metallic paints. Shelf exPreSSion: inStall Wall Shelving Install Wall Shelving Shelves can add style and function. Display photos and other keepsakes by installing shelves and ledges. Premade shelves are available in a range of styles, or you can combine planks and shelf brackets for a one-of-a-kind look. If you’re designing shelving yourself, plan for supports every 36 inches if you’re using three-quarter-inch plywood and every 28 inches if you’re using particleboard.

Style Underfoot: add area rUgS Area Rugs Unroll a rug and add both comfort and style to a room. Rugs warm up wood, tile and vinyl floors, and they also work well on wall-to-wall carpeting. While a solid or textured rug tends to blend with its surroundings, a colorful or patterned rug can become the piece you build an entire room around. Use these tips when rug shopping: • Wool and wool-blend rugs often cost more, but provide superior softness and durability. • A 4 x 6-foot rug will look too small in the center of most rooms, so choose a 5 x 8-foot or 6 x 9-foot rug instead. • Details matter. Check that all edges are fully finished, fringe is tightly knotted, and the back is smooth and free of imperfections. • Use a rug pad on wood, tile or vinyl floors to prevent slipping and to extend the life of the rug. Mirror, Mirror: oPen UP yoUr SPaCe Open Up Your Space With Mirrors Think of a mirror as functional art. It makes a room feel bigger, brighter and just a bit glamorous. For your first mirror purchase, choose a rectangle with a classic frame. It will work in several rooms and hang vertically or horizontally as your needs change. This article was provided by www.Lowes.com.

Home Improvement

[ 48 ] October 2013 CBS4 News Magazine Key Biscayne