Improved Short Sale Process By C. J. Coury The Short Sale phenomenon that has been escalating over the past few years has reached the point where some drastic changes are needed. Today’s most prominent process model for these transactions requires that an offer to purchase be presented to the servicing lender prior to any action being taken to obtain investor approval of the reduction in their pay-off. This, coupled with servicers being woefully understaffed, has had an enormously negative impact on all parties involved in the transaction and has, in fact, contributed to a reduction in the median sale price […]
Training Kids By Jonathan Yarwood At the Jonathan Yarwood Golf Academy we train lots of kids. Did you know, there are certain windows that kids can learn ‘form’ and certain windows that they cannot!? It depends on age, gender, growth spurts and relative maturity. You can have two eight year olds who are completely different mentally and physically from a developmental perspective. It is important that these two types are coached differently. At my academy, the focus is fun with the younger kids. Why is golf always number 10 on every kids list? Why do kids take it up and […]
The Art Of Renovation By Clifford M. Scholz At CMSA our projects have always had about 30% of our workload in renovations. I love having the opportunity to bring back a neglected or worn out structure to it’s original pride and glory, or even beyond that. There is also the sustainable aspect of renovation that just seems to be the right thing to do these days. Our office’s LEED training has taught us that this is the reality today. All projects are not candidates, but many are good candidates. My family lives in a 1923 Dutch Colonial that we seem […]
Take Over The Payments By Jeff Riddell Unfortunately, many people would like to dump their properties even though they made substantial downpayments. Some use jingle mail (send the keys to the lender and walk away). There are consequences, however. Since the lender will still need to foreclose, the owner will still have a foreclosure on his record. Other than the temporary moratorium for primary residences, at least in Florida every foreclosing lender has the right to pursue a deficiency judgment, and more are doing so. Usually there is no defense to the deficiency claim. To defend, the owner would need […]
Market Value Doesn’t Equal Insurance Value! By Lou Marinaccio During these turbulent times, we have seen market values of homes plummet as much as 75% of the listing price or previous sales price. One’s first impression is, “why don’t I insure to that value and save those premium dollars?” Don’t be tempted. Any good insurance agent will caution you against that course of action. The term “replacement cost” means replacing like quality for like quality. The original workmanship and quality of materials will always be more difficult to replace at any time. Given that we have been fortunate so far […]
Why Build Now? By Steve Murray It was about three years ago that I began to notice….there were less speculative phone calls from people asking about building new custom homes on the waterfront. At the time we were really busy, but in construction the long lead time means that if you are not getting the phone calls today, then you are not going to be busy in a year’s time. In addition, we began to get more calls for remodeling or renovating existing houses which is typically due to the fact that people are not moving, are not buying lots […]
Refinance Now By C.J. Coury Although it is certainly more challenging to obtain a new mortgage loan in today’s market you simply must make the attempt if you have an interest rate above, at or near 6%. It is widely believed that rates will begin to rise this spring and could increase as much as 1% or more from today’s historic lows, eliminating the opportunity to realize the benefits of refinancing for many. While it is true that many loans today are being scuttled by evaluations and qualifying documentation, it is also a fact that there are options available to […]
Go Global The Changing Face of the International Real Estate Investor By Patricia Tan Overseas purchasers of Florida real estate are attracted to our shores by many of the same things that draw people from the northern U.S.A. and Canada. Our reputation as the Sunshine State, beautiful beaches, availability of outdoor activities and water sports and relatively low cost of living have continued to entice retirees and buyers of second homes to invest in our real estate market. We have however, in the course of our international marketing activities over the last year, seen some significant changes in the profile […]
Pitching By Jonathan Yarwood If you want to make some scores, then get your pitching sharper! Getting accurate from 80 yards and in, is a great way to lower your scores quickly and easily. The set up for pitching is a blend of the chip set up and the full swing really. Stand wider than a chip, but not as wide as a full swing. Stand the same ratio from the ball too, not as close as a chip but not as far away as your full swing. Your feet should be slightly open to the target with the ball […]
Historic Versus Old By Steve Murray There is something about a historic car, boat or house that triggers the romantic in most of us…a 1956 Mercedes 300SL Gullwing, a 1933 J-Class America’s Cup yacht or an 1850’s restored row house. Yet, “old” does not necessarily mean “good”. There are many old cars out there that you wouldn’t want to own, many boats that should probably be put out of their misery and there are certainly many old houses that would be best taken down rather than renovated. However, as with cars and yachts, certain houses that were designed and built […]
The Pre-Shot Routine By Jonathan Yarwood Not much is written about the Pre-Shot routine. It is a vital and often over looked component of the game that can ‘glue’ your swing changes into place and allow you to take them to the course. It is almost like an ‘autopilot’. You get your body used to the actions and rhythms of a solid Pre-Shot routine, so when the pressure comes on the first tee or it is a time that really counts, you can produce the goods. Many of the players I work with work hard on their routines. We even […]
FHA OK’S Finance Of Qualified Flips By C. J. Coury In an effort to speed up the resale of foreclosed properties the FHA has announced that it will begin to insure loans on properties that were re-sold within 90-days of purchase by the seller. This change will allow lenders to offer FHA financing to buyers who are attempting to purchase these quick re-sales between 2/1/10 and 1/31/11. While this will help a great number of buyers there are certain restrictions that will apply. The primary intent of this easing is to allow investors to purchase, rehab and resell these properties […]
1031 EXCHANGE By Jeff Riddell If there are taxes to be saved, a 1031 exchange should be considered as the exit strategy for any real estate that qualifies. Under the current rules the process is simple: Hire a qualified intermediary (QI) company and sign an exchange agreement, sell your relinquished property, escrow the proceeds with the QI company and reinvest in qualified replacement property within 180 days. Except for personal use properties, any real estate qualifies if it’s held for investment or productive use in a trade or business—including rental real estate of every kind. Tax deferred exchanges under Section […]
Go Global – Retiring To Florida? This may not be as easy as you think! By Patricia Tan Despite some migrations northward, Florida still enjoys a reputation as THE place to retire. Retirees are drawn to the Florida lifestyle. The ability to lead an active, outdoor life year round, take advantage of our beaches and cultural attractions and of course enjoy the tax advantages we offer, are all key considerations when someone decides upon their retirement destination. However, if the retiree is not a U.S. citizen or green card holder, the decision to spend their later years in the sunshine […]
The Architectural “Process” Continues… By Clifford Scholz Our next to last step is the duration of the construction of our design. A lot of work has gone into all the preplanning, detailing and “fussing about” on the building design. Now it is time for the rubber to meet the road and take this 2 dimensional design to reality in 3D. The first item of business is the contract between the client and the contractor. The final bids and timing are in place and the budget looks good to all parties. The selection of the type of contract is on an […]
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Thursday, April 22, 2010
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