The Mortgage Go To Guy!! Mid-June Update

Foreign National Loan Posts

  • Foreign National Loan Programs and Loan Limits
    In an effort to help my Foreign National clients buy Real Estate in Florida with confidence, I am creating this quick and easy chart for Mortgage Programs.
    Based on the lenders that will lend to Foreign National buyers in Florida here are the Documentation Levels and the Loan to Values to consider.
  • Foreign Investors: Buy more property in Florida!!»
    Foreign Investors have long been an important part of the Real Estate industry in Florida. From Miami to West Palm Beach - From Argentina to Quebec, and that’s just counting the “Americas”! … Foreign Investors from the Americas as well as Europe, Great Britain and the Middle East are

 

Community Posts

  • Cityside Townhomes ~ West Palm Beach Florida
    Just North of Downtown West Palm Beach’s Live / Work / Play area is a secluded 40 acre site which is the home to Cityside Townhomes, a WCI Communities condominium development nestled off the Southwest corner of Palm Beach Lakes Blvd and Congress Avenue  .Billed as “Downtown Living, Neighborhood Style”...
  • Delray Beach Seahorse Condominium Project signs Catalfumo
    The South Florida Business Journal has reported that Catalfumo Construction and Development, based in Palm Beach Gardens Florida, has been selected as the construction manager for the $30 Million Seahorse Condominium Project in Delray Beach, Florida.
  • Capistara Lake Worth - Engle Homes Value
    "Single Family Homes in Palm Beach County starting at $299,000" is what you see on the sign for Capistara, the new Engle Homes development in Suburban Lake Worth Florida. With Capistara in Lake Worth Florida, Engle Homes is catering to the homeowner looking for:A family friendly, all ages community
    Walking distance to A-rated schools -

 

New Listings

  • Green Cay Village ~ 6651 Old Farm Trail, Boynton Beach, Florida ~ Townhouse for Sale
    Green Cay Village Townhouse for Sale… Built as Florida Affordable Housing …
    3/2/1 in spectacular West Boynton Beach Florida. All Green Building!!
    Unit Description:
    3BR/2.5BA Townhouse ~ offered at $275,000
    Year Built = 2007
    Sq Footage = 1,392
    Bedrooms = 3
    Bathrooms = 2 full, 1 partial
    Floors = 2
    Parking = 1 Car garage & Driveway
    HOA/Maint = $256 per month

For More Information on Lake Worth, Boynton Beach, Greenacres, Boca Raton, Delray Beach Florida
Real Estate and Mortgages
please contact

 David Podgursky
Broker Associate
Boca Executive Realty
561-504-6949 cell
DavidP@BocaExecutive.com

Boca Executive Realty LLC Your Full Service Source for Residential and Commercial
Real Estate and Mortgage Loans in Florida

 

Green Cay Village - 6651 Old Farm Trail, Boynton Beach Florida

View listing on my website -o-> click here

For More Information on Green Cay Village and Boynton Beach Florida Living, please contact

David Podgursky
Broker Associate
Boca Executive Realty
561-504-6949 cell
DavidP@BocaExecutive.com

Boca Executive Realty LLC Your Full Service Source for Residential and Commercial
Real Estate and Mortgage Loans in Florida

 

TheMortgageGoToGuy goes Real Estate!!

You heard it here first. TheMortgageGoToGuy.com has added a Real Estate section for Central Palm Beach County real estate.

So far I've got mainly community posts including:

Here are the permalinks and blurbs...and keep coming back for more communities, new listings and more regional and local information about Palm Beach County, Lake Worth Florida, Boynton Beach Florida and other Real Estate Listings brought to you by David Podgursky, Realtor - Boca Executive Realty - FAR's Top Real Estate Website 2007!!


Cocoplum Lake Worth Florida

Cocoplum is a community in West/Suburban Lake Worth Florida in West Central Palm Beach County Florida just North of Boynton Beach.

Cocoplum is gated lakefront community including both single-family and estate homes built from 2002-2003 by Westbrooke Homes, one of the same builders that was involved in Journeys End, less than a mile away.

Cocoplum is conveniently located on the NW corner of Haverhill Road and Hypoluxo Road just a few minutes from I-95 and the Florida Turnpike.


Journeys End Lake Worth Florida

Journeys End is a community in West/Suburban Lake Worth Florida in West Central Palm Beach County Florida just North of Boynton Beach.

Journeys End is gated lakefront community including both single-family and estate homes built from 1999-2002 by Westbrooke Homes and Crosswinds Communities.

Journeys End is located on the West of Jog Road between Hypoluxo Rd and Lantana Road directly across from the main entrance to Winston Trails Golf and Country Club.


Smith Farm Lake Worth Florida

Smith Farm is a community in West/Suburban Lake Worth Florida in West Central Palm Beach County Florida. Smith Farm is gated lakefront community including both single-family and estate homes.

Smith Farm is located East of The Florida Turnpike just West of Jog Road between Hypoluxo Rd and Lantana Road


Green Cay Village Boynton Beach Florida

Green Cay Village Condos and Townhomes is a moderately priced development in Boynton Beach Florida. Green Cay Village Condos and Townhomes is located at the Northwest Corner of Flavor Pict Road and Jog Road in West Boynton Beach. Green Cay Village Condos and Townhomes is centrally located with easy access to I-95, The Florida Turnpike and is just minutes from great shopping, dining and the Beach.

Green Cay Village Condos and Townhomes falls in the range of “attainable” housing. The pricing of the units is geared towards Teachers, Firefighters, Police, Paramedics, Essential Personnel, and other “workforce” home buyers.


"Green" is in with Green Cay ~ Boynton Beach

Boynton Beach Florida is the site of the first project of its kind - a ‘Green’ development with both the environment and the buyer in mind.

Environmentally speaking, Green Cay Village in West Boynton Beach Florida is an anomaly. While people say green building, Green Cay’s developer did just that.


More Florida Real Estate Industry News You Can Use from
David A. Podgursky, MBA
TheMortgageGoToGuy.com

Your Full Service Solution for Residential and Commercial
Real Estate Sales & Mortgage Loans in Florida

 

May Updates for TheMortgageGoToGuy.com

I got a little busy this month...writing a little more than I expected so I will post a few more updates in the next couple of weeks but for now this is the update for the Month of May on The Mortgage Go To Guy.com  ... keep checking the site www.themortgagegotoguy.com for changes as it is going through a major overhaul!

Archive for May, 2008

Foreign National Investors need their own Real Estate Agents

Foreign Nationals interested in taking advantage of the weak dollar are finding great values in Florida Real Estate.
In this buyer’s market it is important that all Foreign Investors be prepared for their transaction to make sure that everything goes smoothly.  One cornerstone of the US Real Estate industry is the Buyer’s Agent.
Many Foreign Real […]


Forty Somethings need good Mortgage AdviceBy David A. Podgursky, MBA • May 13th, 2008 • Category: Featured Articles, Residential Mortgages

This Sunday’s USA Weekend had an advice column answer from Advice Columnist Sharon Epperson regarding paying off one’s mortgage early. Here’s the LINK.
The writer stated that she and her husband are in their late forties (49 & 48) and they are considering an option to pay off their mortgage by age 56*. The […]


If the VA and USDA can guarantee loans, why can’t Florida??

The trials and tribulations of affordable housing in the State of Florida are well reported in the local and national news. Thanks to the soaring prices of real estate and land speculation from 2003-2006, affordable housing is a huge task for local governments.
One of the pillars of Affordable Housing Loans have been the […]


Foreign Nationals buying in Florida need to get Pre-Approved

Foreign Nationals are trying to purchase real estate in Florida thanks to the economic downturn and the weak US Dollar.
Prices for a house in the sun are at low prices and mortgage interest rates are still affordable.
Whether you are a British Citizen looking for a vacation home in Orlando, Florida or a Canadian looking to […]


Myopic FHA Homeowner Legislation forgets Key Lending Issue

With the House getting nearer to a vote on the FHA Housing and Homeowner Retention Act, there are few industry professionals who don’t see some glaring holes that need patching prior to the passing of this legislation.
Mortgage Professionals in general expected shoddy craftsmanship from this bill thanks to its loyal backer - Rep. Barney […]


Greater Miami Chamber of Commerce hosts FORUM ON ATTAINABLE LIVING: WORKFORCE HOUSING May 6th.

I received an email from Michael Burstine, the Chair of the Greater Miami Chamber of Commerce’s Workforce Housing Committee and felt it was important enough to share. 
I met Michael at a meeting for the Urban Land Institute: South Florida and Carribean & Terwilliger Center Steering Committee.  This is a great group of people […]


Key West City Leaders fund Affordable Housing creatively

In what has become a very creative move, Key West Florida City Leaders are trying to form a plan that would allow them to raise an additional $5Million in Tax Revenue to satisfy Affordable Housing Needs in Monroe County.
Monroe County collects 4% Bed Taxes from tourists on their hotel bills. County have the […]


More Florida Real Estate Industry News You Can Use from
David A. Podgursky, MBA
TheMortgageGoToGuy.com

Your Source for Residential and Commercial
Mortgage Loans in Florida

 

April's updates on www.themortgagegotoguy.com from The Mortgage Go To Guy!!

 

Catching you up if you haven't stayed on the RSS Feed or Facebook feed

Here's what April brought...plus a Google PR3 again.

Keep checking in!


Get your IRS Tax Rebate Check NOW… well, soon!

The Lakeland Ledger had a great article for Florida residents who can’t wait to receive their IRS Stimulus Checks

To the right you’ll see a great graphic they have on the website that is interactive and will tell you generally when to expect your check via Direct Deposit or by Check.  You can only receive your money via Direct Deposit if you filed your taxes to receive your tax refund via Direct Deposit - otherwise look forward to waiting a little while for the IRS to process your check.

The system is based on your Social Security Number.  You can hover your mouse over the numerical range where the last two digits of your SSN are and it will give you a date....


Boynton Beach Florida seeks Brownfield Designation for CRA

Boynton Beach Florida is again the subject of controversy regarding land use and zoning.  This time the city commission is requesting a Brownfield Designation for the Boynton Beach CRA area in hopes of reviving the opportunity for development there.

A Brownfield is a site of actual or perceived environmental contamination.  Typically Brownfields are found at the locations of former gas stations, dry cleaners or industrial plants where contaminants may seep into the soil.  Developers usually stay away from the cost and the potential liability of environmental clean-ups or EPA fines… but a Brownfield Designation incents Developers to clean up or even gives tax credits to a Developer that has already cleaned up a Brownfield area. 


 Hillary Clinton and the US Mortgage Crisis»

In Wednesday night’s Democratic Presidential Candidate debate, Senator Hillary Clinton mentioned a horrifying number…

Sen. Clinton was answering a question regarding the economy and the foreclosure crisis and mentioned that the Mortgage Bankers Association has spent $185,000,000 (yes… that’s million) on lobbyists. These lobbyists have bent every ear in the House and Senate for years to help the banking industry skate by on lack of disclosure, mismanagement and investor gains for years at the expense of the consumer.


Presidential Debates, Tax Reform, Capital Gains and Real Estate

Wow… that is a lot of topics.  There was a lot of good fodder in the Democratic debate from Philadelpia last night.  There was a lot of talk about Iraq, the Military and the Bush Cabinet’s fiscal policies.
The really interesting part that relate to the world of real estate when the Charlie Gibson questioned […]


Real Estate Investment - Gross Rent Multiplier Formula»

When deciding on a purchasing a Real Estate Investment there are several major factors to discuss.

One of them is Asset Class… you may want to invest in Apartments, Industrial/Warehouse Properties, Office Buildings or any number of other types of properties.

When you finally decide on what you are going to buy, you need to be able to do the financial analysis to figure out if the property you are buying has positive investment potential. That means that it is priced right and it cash flows.

If you are interested in Multifamily Properties … otherwise known as Apartments… then one formula you may use to analyze properties is called the Gross Rent Multiplier Formula.


Investment Properties should CASH FLOW»

A fundamental of buying Real Estate as an Investment is CASH FLOW.  
Despite the profitable years of “Buy and Flip“, during our current Real Estate Economy, “Buy and Hold” is what investors need to be prepared for… which means that somehow these properties need to pay for themselves while the Investor holds onto them.
Whether you […]


Short Sales - when you do NOT need one!»

“Short Sales” is the hot catch phase these days in Florida. Everyone in Real Estate and Mortgages talks about them… and for different reasons.
As a Florida Mortgage Professional, I get calls and emails all the time from worried homeowners wondering if they should start Short Sale Proceedings.
There are a few ways to decide whether […]


Short Sales - Where Does the Rest of the Money Go??»

Thinking about a Short Sale got you frustrated?
One common question that comes up quite often in discussing Short Sales with people who call me with questions is:
If my Mortgage is for $150,000 and the Short Sale is for $100,000, what happens to the $50,000??
Well… good question. Believe it or not if you structure the Short […]


More Florida Real Estate Industry News You Can Use from
David A. Podgursky, MBA
TheMortgageGoToGuy.com

Your Source for Residential and Commercial
Mortgage Loans in Florida

 

IRS Tax Deductions from your Mortgage

20 dollar billAs tax time is upon us and with all the talk about recession, politics and the housing market, most people are not focused on the fact that we are only ten days from tax day.

So if you are a procrastinator as is the American-way, remember to plan for some of your Mortgage and Real Estate related tax deductions to save some money this year.

Here are a few places to save:

1) Discount Points - Lender Discount Points are seen by the IRS as pre-paid interest charges. 

2) Pre-paid Interest - your closing statement shows prepaid interest depending on how many days you will be in the property in the month you close.  

3) Pro-rated Property Tax any property tax you pay at the closing table is deductible

4) Origination Points - Broker fees or Points are also considered pre-paid interest.

5) PMI/MIP - Mortgage Insurance on a loan that is over 80% Loan to Value (LTV) is deductible

Where to consult your Accountant for sure:

6) HELOC / Equity Line - interest on your 2nd Mortgage or Home Equity Line of Credit may be deductible. 

7) Second Home - this is a grey area.  Your accountant knows the rules on deducting mortgage interest on 2nd home mortgages.

8) Depreciation - Investment properties only!!  !

My Professional Advice:

You have your closing package from when you closed your property neatly filed away, right? (nudge nudge)

Get it out and take it with you when you visit your tax preparation specialist or CPA.  Make sure to have your Accountant review your closing statement and IRS Form 1098 that you will receive from your lender in the mail.

Your accountant will then make sure you get credit for all your deductions.

To get the full article, follow this link -o-> Florida Mortgage | IRS Tax Savings on your HUD-1


More Florida Real Estate Industry News You Can Use from
David A. Podgursky, MBA
TheMortgageGoToGuy!!
Your Source for Residential and Commercial
Mortgage Loans in Florida

 

TheMortgageGoToGuy.com Update

Here are the newest articles featured on www.themortgagegotoguy.com

 

20 dollar billFlorida Mortgage | IRS Tax Savings on your HUD-1

by David A. Podgursky, MBA

As tax time is upon us and with all the talk about recession, politics and the housing market, most people are not focused on the fact that we are only ten days from tax day.

 So if you are a procrastinator as is the American-way, remember to plan for some of your Mortgage and Real Estate related tax deductions to save some money this year.

You do not have to look any further than your HUD-1 closing statement from the house you purchased in 2007 to find a few last minute deductions.

[Read more →]


100Florida Mortgage | Investment Properties should CASH FLOW

by David A. Podgursky, MBA

A fundamental of buying Real Estate as an Investment is CASH FLOW.  

 Despite the profitable years of “Buy and Flip“, during our current Real Estate Economy, “Buy and Hold” is what investors need to be prepared for… which means that somehow these properties need to pay for themselves while the Investor holds onto them.

Whether you are a Foreign National buying with the weakness of the dollar working in your favor or a rookie buying up short sales and foreclosures… the property needs to be able to pay for itself.

[Read more →]

 


money stacksFlorida Mortgage | Equity Lines being Frozen

by David A. Podgursky, MBA

If you are a homeowner with a Home Equity Line (HELOC) in Florida you surely know that Bank of America and other banks are freezing  or shrinking your available funds.

In a response to the market drop and shareholder pressure, Banks have decided that the need to keep a handle on the extra debt that they are allowing on properties - no matter whether you have used your line or not.

Seems fishy??

[Read more →]


Foreign MoneyFlorida Mortgage | Foreign National Buyers shift Target Focus

by David A. Podgursky, MBA

Due to the dwindling availability of loan products and lenders for Foreign Nationals to purchase property in Florida, many Foreign National Real Estate Buyers in the US are having to change their focus… both in property and investment type.

Foreign Nationals will soon see the targets of their purchases changing from the traditional Second Home or Vacation Property to different investment grade properties and other ventures in Real Estate.

[Read more →]

 

 


brokimagFlorida Real Estate & Mortgage | Invest with Syndicates

by David A. Podgursky, MBA

The Florida Real Estate Market has many opportunities to offer investors that looking to buy low and sell high.  Savvy investors from all over the globe are seeing the low prices combined with good exchange rates on the dollar (for foreign national investors) and relatively low interest rates for mortgage financing as an invitation to start buying Real Estate in Florida.

  Many Real Estate Investors, though, are joining forces and their money to form a Syndicate - a group chartered with the specific function of buying Real Estate together.  These Investors are bypassing the weak spots of the market - like condos for rental - and skipping ahead to larger purchases such as shopping centers, hotels, apartment builders or even new developments.

[Read more →]

 


More Florida Mortgage and Real Estate Industry News you can use from
David A. Podgursky, MBA
TheMortgageGoToGuy!!

Your Source for Residential and Commercial Mortgage Loans in Florida

 

Florida Mortgage | Foreign National Buyers shift Target Focus

Due to the dwindling availability of loan products and lenders for Foreign Nationals to purchase property in Florida, many Foreign National Real Estate Buyers in the US are having to change their focus... both in property and investment type.

Foreign Nationals will soon see the targets of their purchases changing from the traditional Second Home or Vacation Property to different investment grade properties and other ventures in Real Estate.

Foreign Buyers may have to join forces and form Syndicates in order to purchase commercial properties with higher price tags.  Higher prices coupled with higher cash flows will be attractive to Foreign Nationals who are investment minded.

Another option that exists for Foreign Nationals that are simply focused on the returns they could achieve in Real Estate Investments in the US might look to get involved with a Real Estate Developer.

Providing Equity and Operational Funds for a Developer looking to get a Residential or Commercial Real Estate Development Project off the ground would provide Foreign Investors with an investment term of typically 2-5 years during which time interest would be earned and a portion of the profits of the project would be shared.

Foreign Nationals may also buy wholesale pre-construction units to help a developer achieve their vital pre-sale requirements for a lender.  These units would then be re-sold in the development's inventory with a premium paid back to the original purchaser.

For the full article with more choices for Foreign National Real Estate investors follow this link -o-> Foreign National Buyers shift Target Focus


More Florida Real Estate Industry News You Can Use from
David A. Podgursky, MBA 
Vertical Real Estate Logistics, LLC
Taking Real Estate Developments from Concept to Completion

 

Florida Real Estate Development | Introducing Vertical Real Estate Logistics

It has been a while since I have posted on ActiveRain as I have been busy with a new venture and writing quality content for my main site www.themortgagegotoguy.com

So now I would like to finally introduce you to the new company which our fellow ActiveRainer Billy Berthiaume and I have started...

Vertical Real Estate Logistics Logo

Vertical Real Estate Logistics, LLC
Taking Real Estate Developments
from Concept to Completion

Just as the name implies, Vertical was born from the needs of real estate developers to have someone working on the "Logistics" of their operations.

Our company is an integrated operations that helps Real Estate Developers with: (see Our Services page)

Our Niche is Affordable Housing... we are proud of being able to help Developers bring positive housing products to the Florida market at prices that the Median and Moderate Income Homebuyer can afford.

  • If you are a developer or know of any that are in need of a new Marketing or Sales team...
  • If you are a developer or know of any that are trying to get a new project started...
  • If you are a developer or know of any that need to get a project re-targeted and back on track with sales...
  • If you are a developer or know of any that needs investors...
  • If you are an investor or know of any that are looking for strong, positive projects that can still be sold in this market...

For all development needs at any stage, call Vertical Real Estate Logistics, LLC and let us help.

We help you get your project Vertical!

More Florida Real Estate Industry News You Can Use from
David A. Podgursky, MBA
Vertical Real Estate Logistics, LLC
Taking Real Estate Developments from Concept to Completion

 

Florida Mortgage & Real Estate | "Market" talk...

Listening to the News - Local in Florida or National on CNN, Headline News or MSNBC - you learn that there is a big chasm in the interpretation of "The Market" and what that actually refers to.

NYSE Market Jpeg from Wikipedia To some, "The Market" is a MacroEconomic entity that encompasses all the good and especially the bad from "Sea to Shining Sea".  It also includes the downturn of housing prices in Florida, the Subprime Mortgage Meltdown, and all things in between. 

Unfortunately, "The Market" should be viewed through a MicroEconomic looking glass if you are really strategizing and analyzing properly.

So when I hear someone say, "Well, due to this market..." I wonder what they're referring to? 

Could it be just an ignorance of the difference between Macroeconomics and Microeconomics...

Comparing Daytona Beach Florida versus Sebring Florida is apples to oranges but too many people have been slinging mud about "The Market" without realizing how sweepingly generalities as such just prove their own susceptibility to myopia.

So when you hear someone say, "The Market"... figure out which one they are talking about.  The national Morning News generality or the local real estate professional's local perspective.

Maybe you can tell me now which one is "in the know".

For more details on this phenomenon, read the full article by following this link -o-> Florida Real Estate & Mortgage | Prognosticating the Market(s)


More Real Estate Industry News You Can Use from
David A. Podgursky, MBA
The Mortgage Go To Guy!
Your Source for Residential and Commercial Mortgage Loans in Florida

 
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Mortgage Company: Boca Raton Florida & Boynton Beach Florida Mortgage Loans
David A. Podgursky, MBA The Mortgage Go To Guy!
Boynton Beach, FL
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Boca Raton Florida & Boynton Beach Florida Mortgage Loans

Office Phone: (561) 433-2567
Cell Phone: (561) 504-6949
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Boynton Beach Florida | Boca Raton Florida | Commercial, Residential, Investment Mortgage Loans | Foreign National | Refinance | Serving Palm Beach, Broward, and Miami-Dade Counties in Florida Blog by The Mortgage Go To Guy


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