Rates have notably slipped today in response to the decision to release the remaining $350 billion in Troubled Asset Relief Program (lovingly known as the TARP) funds. Here's the short list of why this is not boding well for mortgage investors: 1) Nobody knows where the 1st $350 billion ran off to and no one really thinks it did what it was supposed to do toward stabilizing our financial markets. 2) Spending this money with another $825 billion (and growing) Obamanomics stimulus [...]
FINALLY... SOME GREAT NEWS! Yes, we've finally caved in to your almost endless nagging and are putting together our first Orlando real estate bus tour - a tour that will take you to see some of the best deals in town! As ground zero for so much of the recent real estate fall out, there is no doubt that Orlando is now home to some of the most incredible deals in the country. And while we've been writing about them for some time now and touring the more agressive investors, we [...]
Check out the exciting improvements to our search engine for 2009! 1. Special foreclosure search New 2. Google satellite maps with toggle for terrain etc. New 3. Schools information New 4. Neighborhood info & crime stats New 5. Mortgage calculator New 6. Zillow Zestimates New And don't forget you can still: Save your "Favorites" Save your search criteria Have matches sent to you each day Manage your profile If you haven't looked at our search engine lately, give it a [...]
High-end fraud. It's the latest blow that has been dealt to the investment markets. First, Bernie Madoff misappropriÂated $50 billion dollars of investors' money in a gigantic pyramid scheme (and no, it was not called Amway). Those affected include high-net worth individuals, hedge funds, pension funds, even charity funds. This event undermined the already faltering confidence that John Q. Public has in our financial system. Now, the owner of Satyam computers (one of India's [...]
For the developers of The World Quest condo hotel resort near Disney, 2009 is off to a poor start. Following their failed auction last year, the owners have struggled with sales - as have most of the area's condo hotels. Now, according to the Orlando Business Journal, Wachovia has filed a foreclosure suit for $31 million. "The incredible nature of recent economic events made sales almost impossible to come by..." said Tony Ruben, president of the parent group of WorldQuest Resort. The [...]
Good news for Orlando condo hotel owners - or any Orlando second home owners who rent out their condos: According to a Smith Travel Research survey, Orlando’s hotel room occupancy levels rose last week, posting the second largest year-over-year increase of the nation’s top 25 lodging markets. Orlando area occupancy increased 14.7 % during the week for January. 3 2009, compared to the same week a year earlier. Nationally, occupancy dropped 0.5 % says the report. [...]
Question: We have a number of vacant homes in our homeowner association. Does the HOA have a responsibility to secure and protect them? Answer: This is more of an issue in HOAs that have attached or common wall housing like condominiums and townhomes. Most of the damage to vacant units is caused by rodents, freezing pipes that cause flooding, and vandalism. An unheated unit could have pipes freeze which causes flooding to it and neighboring units. This could be disastrous in a high rise [...]
Multiple Offers are soooo 2006... Well if you think so, take a deep breath because while it might seem ludicrous to make an offer on an Orlando condo - or any other home, if it means competing with another buyer, things have started to change. In the last few weeks, there has been a sharp rise in the number of multiple offers on Orlando real estate  - and all because foreclosures are finally making their way through the bank pipelines. Many banks, overwhelmed with homes are pricing their [...]
The new year is upon us. 2009. Wow. This time last year gasoline was over $4.00 a gallon, all five of the major investment banks still existed, our country hadn't ‘bailed out' any major institutions, and Barack Obama and Hillary Clinton were still battling for the democratic nomination. Seems like so long ago already. 2008 shook the very foundations of our country's financial system. Between a banking collapse, stock market upheaval, skyrocketing unemployment and a [...]