The start of 2009. What’s going on?

A sampling of things in the midst. We are in a recession/Financial Meltdown. By a common rule of thumb, a recession occurs whenever the gross domestic product, the total output of goods and services, declines for two consecutive quarters. The GDP turned negative in the July-Sept. quarter of 2008 and falling at an even sharper [...]

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Early Modification is the word

For those thousands of homeowners out their facing tough financial times, here’s some good news. In the past you had to miss two or three payments before the mortgage company would talk to you about a loan modification. Now, Fannie Mae- Responsible for about 18,000 home loans, will allow borrowers facing tough financial times to [...]

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New Condominium Laws: What Condo Commando’s might not want you to know.

For those who currently live in or will move to a condominium (One of the roughly 25,000 units in the tri-county areas), this is for you. The Condominium Act (Chapter 718 F.S.) has been significantly amended for present and future residents. Like just about all written statutes, there are pockets of ambiguity and issues that [...]

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The government’s gift to homeowners

Wondering where is your bailout- why not? every other mega-billion dollar financial institution is getting their’s.   The U.S. Treasury is offering a  little present, just in time for the holidays. The federal government announced that it will pump some $600 billion into the mortgage market — purchasing up to $100 billion of Fannie Mae and [...]

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Commmercial News

First qtr. commercial real estate index rises again, but decelerating by Bend Weekly News Sources http://www.bendweekly.com/Real-Estate/6297.html Oh no! Not the commercial market too. *Note- The commercial market is very strong in Coral Gables and is not showing any kind of let down at this time. See related post. For professional advise on all aspects of [...]

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Zillow knows Zilch

For those who know the Coral Gables Market, see for yourself. http://www.zillow.com/search/Comparables.htm?zpid=43910896 Zillow is not only off the mark but it’s zestimate is downright ridiculous. In this example, 1206 Madrid St, listed for $649,000, it uses compatibles outside Coral Gables and the ones in Coral Gables don’t come even close to the subject property. And as a result [...]

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The lending hand has tightened up.

In the great old days of real estate between 2001 and 2005 people in the know and with the means, would buy as much property as possible, finance with little or nothing down and then make the smallest allowable monthly payments. Well, that’s exactly what you are supposed to do when the going is good and prices [...]

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Reverse Mortgages

Because Coral Gables is a notable Reverse Mortgage Market, and is also becoming more popular throughout, I’de like to provide you a little bit more information on the subject. Until recently Reverse Mortgages were not available for the purchase of homes.That’s changed.  Reverse Mortgages are now being offered for both new and resale properties.  The only restriction is [...]

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Miami Real Estate

Guess what Miami? Who made top three amongst Forbes top ten list of overpriced real estate markets? Answer: Yep! Yours truly. We’re numero dos (#2). But I think we’re correcting ourselves though, that’s because I’ve never seen so many price reductions like I have in the last couple of months take place, and never heard so many projects and [...]

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Where are the deals?

Deal or no deal!   The world seeks us, and according to RISMedia’s annual Power Broker Report & Survey Florida is also that land of 17,668 Realtors. I think half are from Miami-Dade and Broward.

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