AFTER FOUR (4) APPRAISALS...WE'RE CLOSING TOMORROW! - 10/29/09 03:49 PM
It was a sunny and warm day in Fort Lauderdale, FL--like many days are in South Florida.  And I had a client, the buyer.  After much home searching, we found the perfect Victoria Park townhouse!  We submitted the offer and the seller accepted. The contract was executed for a purchase price of $470,000...and my buyer was a solid candidate for financing (great credit score, low debt-ratio and fantastic job)...AND THEN CAME THE BANK....
AND THEN CAME THE APPRAISERS....The first one appraised the townhouse at $330,000.  The bank said no, thanks and silently walked away!  The next bank sent out another appraiser and … (6 comments)

HOME PRICES WILL CONTINUE TO DECLINE - 10/22/09 08:50 AM
Despite some tentative signs of recovery, the U.S. housing market remains vulnerable to further price drops-especially in areas where large numbers of mortgages are headed toward foreclosure over the next few years.  http://online.wsj.com/article/SB10001424052748703816204574487240805281318.html
It's only natural that home prices will continue to decline, as we are facing more foreclosures and short sales in areas of the country...however, it's still a great time to buy...especially if you plan on owning your home or investment property for the next 7-10 years!

… (8 comments)

Slash Executives' Salaries--TOO LITTLE, TOO LATE - 10/22/09 08:25 AM
 
After giving billions in taxpayer's money away to 'struggling' banks, it unrealistic to think we're going to get all of that money back, so says Inspector General Neil Barofsky--the man who watches over the TARP program.  The Treasury Department has spent more than $454 billion through TARP programs--47 recipients have paid back nearly $73 billion.  That means more than $317 Billion remains outstanding--with the program set to expire December 31, 2009. 
 Now, the Obama administration plans to CUT the pay of executives at the 7 companies that have received the most bailout money.  Too little too late.  This should have … (4 comments)

Banking Regulations....The New Deal - 10/19/09 12:14 PM
Let's create banking regulations for the entire Global Banking Industry....much like air traffic control!  There are very few global standards in the world, but air traffic control has to be global to prevent crashes.  In the financial banking industry, we've had the equivalent of a mid-air collusion...so let's regulate the banking industry so there are no more global mishaps!
The banks, especially after receiving taxpayer monies, have a responsiblity to be part of the solution, as well.  There has been very modest, if any, increase in lending (NOT to small businesses or individuals) and now the banks are defensive about putting any … (1 comments)

Housing Complexes cited in Discrimination Lawsuits-- - 10/16/09 12:59 PM
 Raising awareness that discrimination still exists and this is is unacceptable, Teresa Henderson filed a lawsuit Thursday in U.S. District Court in Fort Lauderdale claiming a local condo association property manager and association president committed housing discrimination based on race!
In another lawsuit filed in Federal Court in Fort lauderdale, a local housing complex was named in a complaint of discrimination based on familial status.  An apartment manager apparently refused to rent an apartment to a family with children under the age of 10.
Will we see more of this to come?  Is this another sign of the times or just … (1 comments)

Cash for Clunker Update - 10/16/09 11:56 AM
 Cash for Clunker for appliances program has been tentatively scheduled for 10 days in April, 2010.  Retailers would offer rebates for 20% off before taxes, up to a total of $1,500 per household, on most energy-efficient appliances from April 16-25.  In addition, consumers would receive an additional $75 for sending their old appliances to the landfill rather than reselling them.  Only federally designated Energy Star home appliances are eligible. 
How will you get your rebate?  No one is sure  yet...Some stores may be able to give you a rebate on site, while others may require paperwork--details are still to be worked out.
What appliances … (0 comments)

TODAY'S BUSINESS NEWS--RECAP - 10/16/09 10:24 AM
GE's quarterly profit hints at stability-as it's third quarter numbers exceeded Wall Street's expectations showing signs that orders for business may be improving.  Jeffrey R. Immelt, GE's chief executive describes the company's performance as "solid" in a "global economic environment that is beginning to slowly recover." http://www.nytimes.com/2009/10/17/business/17electric.html?hp 
Goldman Sach's bonus pushes the company into a public relations bind-Goldman and its employees are enjoying one of the most fruitful period in the bank's 140 year history.  Goldman executives are disturbed by the resentment directed at their bank and believe this criticism is unjustified.  The company finds itself having to defend their blowout … (1 comments)

APPRAISALS......TRIED AND NOT TRUE! - 10/15/09 01:03 PM
After showing my client 80 townhouses over the past year, he and his family finally decided to buy the perfect townhouse.  All parties agreed to the purchase price of $470,000 and the contract was executed with a clossing date of October 19, 2009!  The buyer has 20% down and is a solid candidate for bank financing...no problem there!
Then, comes the appraiser....he came in with an appraisal of $330,000 and it was very difficult to understand why he used the comps he did.  Naturally, once the bank saw this appraisal, they decided NOT to lend.  Here comes bank No. 2--the appraiser comes … (9 comments)

What I really think.....about the Third Quarter 2009! - 10/15/09 12:02 PM
Ok....I'm a positive person (one must be when venturing in real estate these days)....I read positive books, try to keep a good attitude and help my friends 'keep the faith.' 
I rarely say what I truly feel...as I'm always trying to stay positive. 
Get ready...cuzz here it comes....
The Recession is over...not quite...unemployment nationally is 10% with many states at a much higher percentage (California and Michigan, only to mention a few)...I do not believe much will happen until people have jobs...period!
The good news is...Banks are doing well....Goldman Sachs earns $3.19B--beating estimates--just a year after surviving the financial crisis with … (2 comments)

 
Amanda-wilson-headshot-300_dpi_1_ Rainmaker_large

Amanda Wilson, Real Estate Advisor

Fort Lauderdale, FL

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EWM International Realtors, Inc.

Address: 1700 E. Las Olas Boulevard, Fort Lauderdale, FL, 33301

Office Phone: (954) 764-7171

Cell Phone: (954) 790-0377

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