Some house hunters are more independent than others. They like to tour around on their own and swing by properties at their convenience. This is not always to be recommended since the agent that will greet you is representing the seller, but sometimes it's not always realistic to call your agent when you happen to pass something interesting on the way home. That's ok, but if you're working with a Realtor, you must remember to register them at each property you visit. With most development sites,[...]
Swimming pools and children. For some homeowner associations, the two do not always go together well. Some HOAs wishing to create "adults only" pool time have adopted rules that prohibit children from the swimming pool during certain times and in the process have violated the Fair Housing Amendments Act of 1988 ("the Act"). The Act was amended in 1988 to prohibit discrimination against any person in their use of a dwelling based on their "familial status." The Act defines "familial status" as a[...]
It's the weekend, so I'll keep this brief. What can we expect in the future from this Fannie and Freddie takeover? Between now and the swearing in of our next commander-in-chief, probably not much beyond the initial restoration of confidence. Money will flow through mortgage-backed securities in a cautiously optimistic manner the same way it has during this entire credit crunch. This will mean a steadying of mortgage prices around current levels. As such, we will not see any more [...]
To properly start this newsletter, allow me to quote myself from my last newsletter: "Everyone is all up in arms about Fannie Mae and Freddie Mac. The big concern on Wall Street is that these two mortgage giants are going to collapse under the weight of all these bad loans that they have been accumulating over the course of the past five years. If they did happen to close their doors, it would cause a catastrophic chain reaction across the mortgage, finance and real estate markets that [...]
With two out-of-state visitors wanting to bid by phone and internet on these beautiful condo hotel suites near Disney World, we attended the World Quest auction on their behalf this weekend. We were not expecting a good turnout based on pre-registration numbers but equally, we weren't expecting to be told as we approached the marquee that the auction had been "postponed" due to lack of sufficient participation! I counted less than 30 people scattered around the vicinity and assumed they were [...]
Much as I love some of the condos downtown, I've always thought it was a rather odd place to live. It's the only downtown I've ever known where there are no supermarkets, no malls and no movie theaters. Having lived in San Francisco, London and New York it's hard for me to even call it a ''downtown''. I mean what's the point of living in a city if you have to drive to the suburbs to shop and go to the movies? No wonder there are so many beggars - there's nowhere to actually buy any food. [...]
Everyone is all up in arms about Fannie Mae and Freddie Mac. The big concern on Wall Street is that these two mortgage giants are going to collapse under the weight of all these bad loans that they have been accumulating over the course of the past five years. If they did happen to close their doors, it would cause a catastrophic chain reaction across the mortgage, finance and real estate markets that would wreak havoc the likes of which our country hasn't seen in some time. And the sky [...]
Tired of seeing condos listed on the MLS with bogus pricing that requires third party approval? Want to buy a condo at a real, guaranteed price? This 1/1, 1200 square foot condo (plus loft) has vaulted ceilings and is in a great community in Metro West, one of Orlando's prettiest neighborhoods. It was purchased for $135 a couple of years ago and as a result of the condo crash it is now available for just $85k (that's $50k off - or a 40% reduction - or just $70 per foot!). This is not an [...]
There are more signs this week that nationally, the slump in the market may have reached its low point. (Don't smack me, I said "may" ok?) The most recent news from Las Vegas is that having been designated as one of the leading foreclosure cities in the United States, sales are edging up and prices holding steady. The Las Vegas Sun reports condo sales were up in July by 18 percent compared to the same time last year. Buyers seem to be moving off the sidelines as prices have slipped 31% in the[...]
Thursday, August 21, 2008 Orange County Convention Center North Building - 3rd Floor - Room N320 9400 Universal Blvd. Orlando, FL 32819 2:00 p.m. to 8:00 p.m. EST RSVP: 407-685-9882 Contact: Mark Lindsey, Abernathy MacGregor. msl@abmac.com (310) 343-5844. The nation's second largest mortgage insurer PMI Group (www.pmi-us.com) has released its annual Economic Real Estate Trends report, and the study reveals that several major housing markets in Florida and California are at the highest [...]
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