55 West Condos at the Esplanade Downtown Orlando are continuing their aggressive drive to rent up their condos as quickly as possible. Delaney's (2's 1300 sq ft) starting at $1827 South Flagler (1329 sq ft)  starting at $1827 North Flagler(1402 sq ft) starting at $1853 Anderson starting at $2326 Current Specials: Lucerne - 687 sqft - $1168 NOW Village- 899 sq ft/11th fl- $1486 - may move soon Tribeca-1032 sqft/4th fl/latitudes-$1433 NOW Concord-1060 sqft/12th [...]
Amendments to the Florida Rules of Civil Procedure Largely Derived From Recommendations of the Task Force on Residential Mortgage Foreclosure Cases. Some of the changes are as follows: Verification of Mortgage Foreclosure Complaints: This requires the Plaintiff (lender) to attest to the truthfulness of the allegations in the complaint. It is intended to minimize erroneous filings, conserve judicial resources by reducing the number of cases with "lost note" issues and provide [...]
So many folk have asked me why the banks would 'short' sell so much property and cement their losses when they could do a simple loan modification do much better. And why do they make you miss a few mortgage payments before they'll even begin speaking with you. None of it makes financial sense, right? Well, like everything else in the world of finance, nothing is ever quite what it seems. You won't believe the sweetheart deal that the Indymac boys were given by the FDIC... Watch this [...]
Florida legislators understand how difficult association operations have been as a result of the high foreclosure rate, huge owner delinquencies, loss of revenue from the statutory cap on lender liability for payment and the length of time it takes to navigate through the legal system. As a result, there is no shortage of legislation filed for consideration during the 2010 legislative session.  Here is short synopsis of some of the bills with links to the actual text: House Bill [...]
Ignore the stats that were announced on the news today. National averaged statistics aren't very relevant after all, unless you're planning on buying up the entire country. Real estate is strictly a local business. So if you're planning on buying in Orlando, then it's Orlando data that really matters. And if it's an Orlando condo you're after, then Orlando condo data is all that really matters. So here goes... There's no doubt that most investors now believe that the bottom[...]
Readers have submitted quite a few questions in the last few weeks regarding insurance for condominium property and responsibility for repair of damages.  Section 718.111(11), Florida Statutes, requires every condominium association to maintain insurance coverage for: All portions of the condominium property as originally constructed (including replacements of like kind); and All alterations or additions to the common elements or association property made in compliance with [...]
Get ready to rev up your business volume. Starting February first, the department of Housing and Urban Development (HUD) is waiving its 90-day "anti-flipping" rule for FHA financing. Investors who buy and fix up foreclosed and bank-owned properties now will no longer have to wait for 90 days before looking for FHA buyers. Under the prior policy, FHA financing was prohibited on purchases where the seller had acquired the property less than 90 days before the next sale. The [...]
Anyone remember that crazy time toward the end of 2008 when all of our portfolios fell apart? Through a clever combination of whiskey and denial, most of us have managed to effectively neutralÂize any memory of the actual happenings of the crash. All we know is that we landed somewhere unÂpleasant and the banks are somehow completely to blame. Well, if you’ll recall, one of the big events that happened back then was that Fed Chairman Ben BerÂnanke swooped in on his [...]
Question: Our members approved a Rental Restriction Policy at the most recent annual meeting which grandfathered existing rentals. Should this policy be put in the recorded bylaws? If a unit is occupied by an owner's relative, is the unit classified as a rental or as owner occupied? Answer: Since the ability to rent one's property is considered a basic right, informing prospective buyers of the policy through recorded bylaws is essential. A Rental Restriction Policy is considered a major change[...]