It just became even more difficult to finance a condo. Fannie Mae, which buys most of the residential loans from lenders, announced more requirements that only apply to Florida: If more than 15% of a condo's units are delinquent in their association dues or fees, Fannie Mae will not back the new mortgage.In new condos and condo conversions, at least 70% of the units must be sold, up from 49%
Read MoreIn an effort to explain what has become one of the most frequently asked questions of the 2009 season: "What is a short sale?", I will attempt as simple and as concise answer as possible with my limited experience in the matter... When the proceeds of a real estate transaction fall short of what is owed on the property, it is referred to as a "short sale". In many cases
Read MoreI know this is a real estate blog, but yesterday's inauguration will have its effect on all of us in the days and months to come...we must rally behind our new president, and reach across party lines and continue to wish only that goodness and prosperity come to our nation. The day we have long awaited has now come and gone...Our new president is wished nothing but safety and success
Read MoreWe are well into our "season" and there's been a lot of activity already. Chip was out of the office all day showing condos yesterday; and today he has a 9:00 o'clock, a noon and a 3:00 PM appointment with three different prospects! Our website leads are rolling in daily...If the past two weeks are any indication of what is in store, I think we are going to have a
Read MorePeople ask me how I stay "up" in such a down market...the answer is really quite simple. First, we know that there isn't anything that we can't accomplish together. This is a must: Be part of the solution, not part of the problem...Be creative, think outside the box, look at challenges as opportunities to learn and improve...A positive attitude, a strong faith. Be pro-active! Also, Chip & I made the
Read MoreThis is a wonderful opportunity to purchase two beautiful homes in Naples Florida for the price of one! The 3 bedroom main home is a well maintained ranch style residence featuring a split bedroom design, formal living room, a step-saver kitchen which opens up to the family room with vaulted ceiling and an oversized screened porch. There is a refreshing below ground pool surrounded by magnificent landscaping. The cottage style
Read MoreA lot of folks were glad to see 2008 come to a close. We certainly had our share of economic challenges, but I always believe, life is easier to handle when you count your blessings instead of your woes. A special thanks right now to all those who helped bring joy and happiness into our lives. Both family and friends as well as the wonderful people we've met through our
Read MoreBuyers ask, "Is there any place that I can get a view in Old Naples"? Frankly, most people don't buy in Old Naples because they're looking for a view- View just isn't the typical reason for living downtown. Most urban-ites want proximity to beach, the shopping, walking distance to great restaurants, galleries, the parks and the live theatre. It's a lifestyle choice...Dinner at Chop's...a play at Sugden Theater...parades, art shows,
Read MoreI always try to keep this blog as upbeat as possible. I would like to make a few predictions about where I believe the real estate market in general is headed in 2009. Most of the end results will be very positive, and by this time next year I predict the recession will be over! Sellers will continue to face falling prices because they are competing with 1.) banks with
Read MoreYesterday, December 16th, 2008: The Federal Open Market Committee voted to establish a target range for the Fed Funds Rate of 0% to 0.25% from 1%. American banks have responded by cutting their prime lending rate by 75 basis points! This translates to the lowest rate in history! Wall Street approved the move by closing the Dow Jones up 359 points...both the Nasdaq and Standard & Poor's 500 index rose
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