Navigating Through Fannie Mae’s New Condo Guidelines By C. J. Coury On January 15th, Fannie Mae changed their requirements for the purchase of condominium mortgage loans in the state of Florida. While these changes are certainly going to make it more difficult to obtain financing on these purchases there are some things that you can do to help mitigate this obstacle. Below are the most significant changes as well as some helpful tips. Full Review of Existing Projects: Many lenders will have the ability to review and approve existing projects. This will save substantial costs ($1,200 + $30 per unit) […]
Go Global South of the Border By Patricia Tan Why is Mexico one of North America’s favorite destinations? Is it the miles of white sandy beaches, emerald-green reefs of the Caribbean, state-of-the-art hospitals and medical care, or something more? Mexico’s attractions are many and varied and will be viewed differently depending upon the motivation of the visitor to this friendly, welcoming country. Tourists will undoubtedly be drawn by the natural beauty, Mayan history and the opportunity to enjoy unspoiled beaches and water sports in the clear blue seas. Once smitten with Mexico’s attractions, many tourists visit over and over again […]
A Little Bit of Green Goes a Long Way By Tracy Eisnaugle If one of your 2009 resolutions is to take a few steps toward reducing some of your living expenses while at the same time becoming more environmentally conscious, then I have a few simple ideas to help. Just over a year ago I resigned from a wonderful job to take some time and focus on myself and my family, the concept was good but it was definitely a financial awakening. My spending on day-to-day items and monthly transactions needed to be analyzed to live within our new budget. […]
Love and Rack of Lamb Alexander By Chef John Zakarian, Owner of Zak’s Prime Steakhouse Recently I had an e-mail from a friend that caught my attention and I’d like to share it with you. On an island lived all the values and feelings of man, and with them was Love. Soon rumors began to fly that the island was going to sink Everyone packed up their boats and left except Love because he loved the island so much After a few weeks when his food ran out Love started to look for someone to take him to shore Nearby, […]
Go Global – Focus on Costa Rica By Pat Tan Costa Rica’s location at the heart of the Central American isthmus, the country’s varied landscape, mild climate, emphasis on ecology and its friendly people have made this small country a hot spot for investment, retirement and vacation. Bordered by Nicaragua to the north and Panama to the south/southeast, Costa Rica benefits from over 800 miles of coastline set on the Caribbean Sea and the North Pacific Ocean. Almost 20,000 square miles in area, the landscape is dominated by Cerro Chirripó, the fifth highest peak in Central America. Endless beaches, […]
Sarasota Style- Color, Light, Water and Sky By Pamela Hughes In our earlier column, we wrote about all things that speak of our beloved Sarasota: glorious sky and sand, lush flowers and foliage, striking sunsets and sunrises, and most importantly, our beautiful and abundant bay and gulf waters. Almost everywhere that one drives, bikes or walks in Sarasota, we are blessed with incredible water views. It is an element that makes Sarasota so special and unique, and which instantly relaxes the visitor as well as the long-time resident. We’ve talked about how, in our work, we like to celebrate […]
JOHN’S STORY (Part 2 of 2) Excerpt from 21st Century Real Estate Investing By Jeff Riddell IT’S NO SECRET Andrew Carnegie said “More money has been made in real estate than in all industrial investments combined.” The big boys know all about it and have made fortunes for generations through real estate. Even the railroad barons of the 19th century knew that wealth was in real estate. When they built the transcontinental railroad in the 1860s, the government gave them 640 acres of land for each mile of track they built. They believed they could sell the land for millions […]
Color Trends By Tracy Eisnaugle Color is powerful and evokes emotion. It can convey moods and is capable of delivering an instant message. Color has impact on every aspect of our life, trends are cultural and as much as trends influence us and our surroundings, we also influence the trends. Have you ever wondered how the latest colors evolve and who decides what the “new” colors will be? To get to the bottom of it and to find out what is in store for 2009, I recently attended a class on the evolution of color. Twenty specialists from around the […]
Timeless Designs By Eric Gilbert Our showroom displays a beautiful kitchen for which we’ve received many delighted comments. It appeals to those of us wanting “a fresh, new look that will not look old in five or ten years.” I hear that comment often. It seems, after all these years of being a throw-away society, we are finally seeking to make discerning changes that will enable us to free up our finances – and our time – to enjoy more quality living in the near future. We are seeking timeless designs, which are not dated in a matter of a […]
Help the Bank Appraiser to Avoid Valuation Issues! By C. J. Coury In today’s changing mortgage lending landscape the bank appraisal process has been totally redesigned. Lenders are no longer able to question, coach, prod or pressure the real estate appraiser in any way. In fact, loan origination associates are prohibited from even speaking with the appraisers. Although the reason for these new restrictions is sound they do create the need for a new way of approaching this component of the mortgage approval process for the REALTOR®. When contacted to set up the inspection appointment a listing agent should be […]
Reverse Mortgages – A Primer By Steven R. Greenberg A “reverse” mortgage is a loan against the borrower’s home that does not need to be paid back as long as the borrower lives there. There are several ways to get the cash out of a home with a reverse mortgage: 1. As a regular monthly advance; 2. All at once, in a single lump sum of cash; or 3. As a combination of these payment methods. In order to qualify for a reverse mortgage, the borrower must be at least 62 years of age. Furthermore, the borrower must seek […]
Sundays are for Comfort Food By Chef John Zakarian, Owner of Zak’s Prime Steakhouse My Dear Friends, Due to unforeseen circumstances we will have a quick recipe (something like one of Rachel Ray’s 30 min. meals of tuna casserole). Just kidding! But we are doing something very similar to tuna casserole in that it is a comfort food served family-style generally on Sundays. Why on Sundays? Because most of us would like to enjoy the last day of the weekend without the headache of throwing together a large complicated dinner. Every nation has a comfort food that is not only […]
“So, what’s happening to real estate in the Sarasota area? Are prices stabilizing? Is there any mortgage money? And….oh, by the way, how do you think 2009 is going to be?” These are all common questions frequently asked of anyone in real estate. A few years ago the answers were easy. Today –the only way to know a true answer is if you could get inside that fictitious crystal ball where you could see the future.
My first project in the area was working on the Ritz-Carlton. We had done other projects for the Ritz in locations across the country, but when I first came here to look at the area and start working I knew this was someplace special. And by the time we were done with the project, I was looking for a home to call my own. Somehow, you just know when a place is right. It feels like home. For me it was the warmth, the light, the colors of the sea and sky, the drama of the sunsets.
With the wave of short sales in the current real estate market, it is difficult, if not impossible for a REALTOR® to not be involved in a short sale transaction. This article will address some of the issues when representing a Buyer or Seller in a short sale.
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Sunday, February 22, 2009
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