Sales usually slow in the fall, but the housing market posted a strong September. The National Association of Realtors says existing home sales in September were up 4.7 percent from August and 8.8 percent higher than September 2014. Existing home sales have posted year-over-year gains for 12 consecutive months. “September home sales bounced back solidly after slowing in August and are now at their second highest pace since February 207,” said NAR chief economist Lawrence Yun. “While [...]
With spring in Orlando already well underway, were seeing uptick in the number of enquiries we are receiving from our clients who are thinkng about either exiting the marketplace, or acquiring new properties. As those of you who purchased through our real estate division know, at Condo Metropolis, apart from managing our investors condos and town-homes, we also help with the acquisition of new assets, as well as the disposal (sale) of those that have done their job. So if you have any questions [...]
Sometimes it's just easiest to remember that (with one or two exceptions) there are no loans on condos right now. For those interested in the detail, HUD just changed its condominium rules again for those seeking FHA approval, but I'm not sure it really changes anything for the average buyer. HUD has relaxed its controversial requirement that at least fifty percent of the units in a condo project be sold before FHA could insure loans. Under the amended rule, FHA financing could be [...]
Yep. It is if you're an investor looking for a condo deal under $50K. Increasing numbers of observers have said of late that we've already hit bottom, and I'm inclined to agree, with one caveat. Bottom will arrive at slightly different times for different states, and different cities within states and, different communities within cities. There is no uniform national bottom. When I hear the refrain, "I don't think we've hit bottom yet" I just roll my eyes. And then, there is your personal [...]
Hooray! Our money woes are a thing of the past! President Obama had a rousing show of support at the recent G-20 economic summit, where the leaders of the 20 most economically influential countries in the world convene to fix our shattered economy, so that's why it takes a whole day. Give them a week and I'm sure we'll have global warming, poverty, and epidemic diseases all elimiÂnated. No, I am a fan of tradition and all, but this summit amounted to little more than [...]
There are a lot of volatile cross-currents washing through the financial markets right now. If we were not sure about things a month ago, we're hopelessly confused now. The big stimulus package, a new pile of national debt, a record drop in home prices over the 4th quarter of 2008, CitiGroup, AIG, and the auto makers all needing more money...it's enough to make you want to hide under the covers with the lights off. However, tumultuous times present unique (though fleeting) [...]
Effective March 1, Fannie Mae (FNMA) the folk the make conventional loans "conventional" are planning to further tighten the condo guidelines on which mortgages they will buy on the secondary market. It could be argued that it makes no difference since they are already impossible in most cases, leaving only FHA backed loans as an option. Additionally, in the case of bank owned condos cash is usually the only option anyway - so again, perhaps it makes no difference. In today's [...]
![Boortz Says "e;Buy!"e;](http://condometropolis.com/wp-content/uploads/2022/09/greenwheelbarrowcash-1-200x200.jpg?quality=100.3022012111020 "Boortz Says "e;Buy!"e;")
Long time talk show host and co- author of The Fair Tax Book Neil Boortz said this morning that anyone looking to invest needed to forget about the stock market and look at real estate. When consulting a want-to-be investor Boortz said.  "I am contracted into a large real estate deal this year. If I had any more money to invest I would be looking at big Real Estate Deals. We are going to see a lot of inflation thanks to the Democrats. Inflation is good for real estate [...]
In a moment of profound unpreparedness, our brand-spanking new Treasury Secretary Tim Geithner spoke on Tuesday about the 'details' of the upcoming stimulus package. After no ‘details' whatsoever were declared, the stock market expressed their discontent by trashing the Dow Jones Industrial AverÂage by 300+ points. Ouch-town, population you, Tim. Maybe it's best to have the information before you tell the press that you want to release the information. As I write this, the [...]
Last August we reported on the $7500 tax credit available to first time home buyers. Now, the $790 billion stimulus package hammered out by House and Senate conferees late last night will increase the home buyer tax credit to $8,000, from $7,500, and drops the repayment feature for buyers who hold on to their property for at least three years. The legislation also extends the effective date of the credit to December 1 from June 30, and extends eligibility to borrowers who buy their home with [...]