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florida: Chaos in South Florida housing market leaves more people renting
- 04/02/12 01:45 AM
The article below came from the local FL paper, the Sun Sentinel, a short time ago. I thought it would be a good idea to post some of what the local news is printing.
South Florida's rental housing market is booming as foreclosures and price declines have many residents leery of homeownership or unable to qualify for mortgages.
There are fewer empty rental apartments in Broward and Palm Beach counties this year over last year and rental rates are higher. Some new renters are former homeowners who have lost their properties to lenders, while others don't want to be shackled to … (0 comments)
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florida: Canadian’s top place to buy? Florida!
- 03/15/12 10:20 PM
Who would have ever thought that the Canadian dollar could be stronger than ours?! The strength of the Canadian dollar, sustained low pricing in the U.S. housing market, and perceptions regarding the general economic outlook continue to encourage Canadians to purchase a home in the Sunbelt states.Even for international buyers it’s location, location, location. Forty-three percent of those surveyed report a favorable location as their clients’ most important factor when choosing where to purchase. That was followed by 27 percent who stated their clients’ top reason to buy in the U.S. was that they view U.S. real estate as a profitable … (4 comments)
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florida: Real Estate Values Stat
- 03/09/12 01:12 AM
… (2 comments)
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florida: Rent-A-Driveway
- 03/07/12 02:14 AM
Renting spaces from extra rooms to vacation properties with ocean views is a snap, thanks to the Internet classifieds such as Craigslist.
Why shouldn't renting your driveway be just as easy? After all, finding somewhere to park is also about location, location, location.
Not limited to single-family home driveways and garages, the site will list spots for anyone who has space to fill from churches and schools to small businesses and strip malls.
Obviously, spaces nearest public transit centers, downtown areas, theaters, stadiums and other attractions will bring higher rent, but will have to compete with existing parking facilities.
You … (0 comments)
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florida: Foreclosure...How Far From a Future Mortgage?
- 03/02/12 04:26 AM
Next to filing for bankruptcy protection, nothing wrecks your chances of qualifying for a home loan like a foreclosure. It’s a reality that the former owners of the more than 4 million homes lost to foreclosure in the six years since the housing bubble burst will have to confront if they want to own again. But the passage of time makes all the difference. That’s because mortgage-lending guidelines that most banks follow prohibit them from making loans to people with foreclosure or a short sale in their credit history, often for years. Never mind the hit that one’s credit score … (2 comments)
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florida: New Neighbors
- 02/24/12 03:12 AM
You have just moved and now you are trying to figure out the lay of the land and meet your new neighbors? What should you do first?
The first order of business is to have an open mind. Your new to the neighborhood although you may or may not have a Homeowner's Association, you may have to adapt to function very differently from what you're used to. There may be new cultures, new rules, and (hopefully not) new cliques. By being open to new situations you may find yourself more able and willing to make new acquaintances.
This is not a … (2 comments)
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florida: Refi's are Raging with Rates at Rock Bottom
- 02/20/12 12:40 AM
With little economic activity released last week, the long lasting financial troubles in Greece have continued to be a major factor in worldwide markets, including ours. In times of trouble, investors prefer safe assets such as bonds which affect mortgage rate pricing. Because of this, low mortgage rates have remained consistent which has refinances on the increase.
Current 30 year fixed mortgage rates are at 3.500%, 15 year fixed mortgage rates are at 2.875% and 5/1 adjustable mortgage rates are at 2.250%, all available with 0.7 to 1% origination fee for borrowers who have good credit. Borrowers have been taking advantage … (0 comments)
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florida: Moving with Fido? Tips for a relaxing relocation.
- 02/17/12 12:06 AM
If you have a pet, you usually love it. You want it to be happy and you hate it when it seems to be in pain. In some households they're our "children." In others they are dear members of the family. How can you make the stressful time of moving an easy transition for your furry friends?
First, plan ahead for the days when you are loading moving vans and house doors are likely to be open. This is not the time to be chasing Fido down the street or to lose kitty with no time to spare. Pets are routined creatures, … (1 comments)
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florida: FHA and their Anti FLIPPING regululations
- 02/16/12 02:10 AM
In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Acting Federal Housing Administration Commissioner Carol J. Galante today extended a temporary waiver of FHA’s anti-flipping regulations through 2012. Read FHA’s anti-flipping waiver. “This extension is intended to accelerate the resale of foreclosed properties in neighborhoods struggling to overcome the possible effects of abandonment and blight,” said Galante. “FHA remains a critical source of mortgage financing and stability and we must make every effort to promote recovery in every responsible way we can.” With certain exceptions, FHA rules prohibit insuring a mortgage on a … (0 comments)
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florida: Cold Calls Freak You Out? Five Tips to Make them Easier
- 02/14/12 11:30 PM
Do you dream of how much better your business could be but just can't bring yourself to pick up the phone?
You're not alone. Here are 5 tips to make it easier.
Tip 1: Change the name
I'm not kidding. Do the words "cold calls" send a chill up your spine? It's no wonder. Whoever created that term didn't know what they were doing. So, change the term, because it's not right. The people you'll be calling are leads.
Tip 2: Be in the right mindset
Are you calling to sell something? If so, put down the phone and start … (5 comments)
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florida: REO To Rent Program
- 02/13/12 03:24 AM
The Federal Housing Finance Agency announced the first step of a Real-Estate Owned (REO) Initiative that allows investors to buy pools of bank-owned (REO) properties in the nation’s hardest-hit metropolitan areas. Effective Feb. 1, investors may pre-qualify to bid on transactions in the initial pilot phase as well as subsequent phases. The REO Initiative will allow qualified investors to purchase pools of foreclosed properties providing they agree to rent the purchased properties for a specified number of years. FHFA established the investor program as a way to move foreclosed homes off the market and, at the same time, add rental … (0 comments)
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florida: FHA Mortgages and Condo Buyers Don't Mix
- 02/02/12 04:15 AM
Buying a condominium is getting more difficult for anyone who wants to put down only 3.5 percent and have the government insure their mortgage. The issue isn’t just the borrower’s financial qualifications. It’s the building’s, and plenty of condos no longer get a thumbs-up from the Federal Housing Administration.
Since Feb. 1, 2010, condo buyers haven’t been able to secure unit-by-unit “spot” approval for FHA-backed mortgages if an entire building was not certified. Instead, the federal government set criteria to determine the financial viability of an entire building before deeming the project as FHA-approved, even if it had previously been certified. … (1 comments)
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florida: Home Selling Tips
- 02/01/12 02:32 AM
Selling a home is a serious matter and can be tiresome! Selling your home may be one of the biggest financial transactions you will ever make. Making the process of selling your house can be most profitable for you if you know all that it requires to be a successful home seller. Whether you are selling a home privately, or selling through a realtor, you need to understand home selling tips. Home selling tips will help you be informed and therefore you will have the basic knowledge that will assist you sell your home fast for the money you … (0 comments)
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florida: Private mortgage lenders vs. Traditional Mortgages
- 01/27/12 03:51 AM
Private Mortgage Investing, also known as Private Mortgage Lending is one of the best ways to invest your money protected by a real estate mortgage. Mortgage lenders finance commercial and residential properties. In case you need to borrow money, a private mortgage investor or lenders is the best source for that money, Private mortgage lenders are individuals who are not basically a mortgage finance company; but they could generally be rich investors that basically make home loans as investments for the interest rate payments that they receive. Private mortgage lenders are not as easy to find as finding a standard/normal bank … (0 comments)
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florida: IMPORTANT to read-- Partial Payments
- 01/23/12 11:08 PM
“All or nothing” may not be an option for owners associations anymore.
On June 11, 2008, Florida’s Third District Court of Appeal ruled in favor of a homeowner who was being foreclosed on because he did not present the management company with full payment, but only offered partial payment. The Court in that case said the management company was assured of eventual full-payment by 718.116. The association should have mitigated its possible damages and accepted the partial payment offered, therefore leaving a “miniscule” amount and making the foreclosure unnecessary.
This ruling, intended by the Court … (2 comments)
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florida: Mediation-- A new option for Real Estate not just Divorce!
- 01/23/12 01:33 AM
Going to court can cost you money.
Mediation costs money, too, but less.
When Florida homeowners violate restrictions, association boards look for ways to persuade them to comply. If these persuasions don’t work, court previously was the only solution up until 2004. That’s when the legislature passed a law requiring mediation before court.
When this solution first came about in 2004 the cost was high and the process was more difficult to begin. Those stumbling blocks were pushed aside in a 2007 revision of the statute. Mediation is still required but now an association can go directly to … (1 comments)
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The article below came from the local FL paper, the Sun Sentinel, a short time ago. I thought it would be a good idea to post some of what the local news is printing.
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