…a glimer of hope for would be buyers in many buildings in downtown Miami, Brickell and outlying subarbs of Miami… as Fannie Mae announces approval for FHA financing for condominium buildings in the area.
Entries from June 2009
June 22, 2009
Is the glass half full or half empty for the downtown Miami condo market?
We know the majority of the condominium units in these buildings are unsold…but many of the developers of these buildings are now renting the vacant units to tenants and now that prices have come down we are actually seeing contracts being signed and closed…
June 21, 2009
What is the Difference between a Short Sale and a Foreclosure, and how will it affect me?
This is an all to common question being asked today. To keep things as simple and short as possible, I am not going to go into the details of these transactions; rather I am only going to give you my way of explaining these terms when someone asks me this very question. A short sale [...]
June 16, 2009
Real Estate Investing back to basics Part 1
Think back to just a few years ago when the real estate market was booming, and talk at most watering holes centered around someones real estate investment and how much money they made on their venture. Waiters, homemakers, doctors, and lawyers were all jumping on the investing wagon. Today unfortunately many of those same “investors” [...]
June 15, 2009
The Ugly Truth About Loan Modifications
Ok, so just about everybody has heard about loan modifications, or loan mods for short. They are also called loan workouts, loan restructuring, among others. I’m going to explain what types of loan mods exist, and who can or can’t likely get them.
June 11, 2009
Downtown Miami condos filling up fast
The city of Miami wants you to know there are, in fact, plenty of humans living in new condos. And there are more each day.
June 10, 2009
How Did We Get Here…
2001-2005; United States housing bubble 2001: US Federal Reserve lowers Federal funds rate 11 times, from 6.5% to 1/75% 2002-2003: Mortgage denial rate of 14% for conventional home purchase loans is half of 1997 – as quoted from the Federal financial Institutions Examination Council or FFIEC 2002: Annual home price appreciation of 10% or more [...]
June 9, 2009
Timing the market
make sure you understand everything before you make a move. Be honest about your purpose for wanting to buy, realize that unless you are an experienced investor that has been through several market cycles you should not jump in head first but approach with caution keeping your eyes and ears open
June 9, 2009
Miami Beach wants to evict famous riding rooster Mr. Clucky
…the city has decreed that Mr. Clucky — the bike-riding rooster known for weaving his way through the laid-back crowds at Lincoln Road Mall — must go.
June 8, 2009
Seeds for current economic crunch planted long ago
…Miami-Dade County. As far back as two years ago, real estate experts were predicting property price declines of as much as 20 percent in metro Miami. Yet, the county’s forecast, as stated in its five-year financial outlook, was that property tax rolls would simply remain flat in the 2009-10 budget year.
