Where will we end up in this crazy debate? Know one really knows...but what we do know is that things are shaking up some. Investing in property should be a very methodical process and we have tried to look at the best way to handle the Panama City Beach Florida Condominiums market just that way. What can you afford....without any renters! Then the rest is just gravy! That being said.....we have to dig deeper to keep our investment safe. The last thing we want is to allow someone to come in and take these properties for sale for a much lower price...then your investment has gone upside down! The supply is so scary...something needs to happen. Take a look below at some of the latest information on this debate:
Congress Divided on $700 Billion Bailout Plan Congressional negotiators resumed meetings on Friday to revive or rework the proposed $700 billion financial bailout plan. On Thursday, the word was that the group of lawmakers were near “fundamental” agreement on the bailout of the U.S. financial sector.But that consensus fell apart Thursday night, with Democrats blaming the House Republicans for the apparent stalemate. Conservatives, however, have complained that the plan would be too costly for taxpayers and would be an unacceptable federal intrusion into private business.President Bush is urging lawmakers to work through their disagreements and reach a consensus on the plan so the U.S. can avert an economic meltdown. "There are disagreements over aspects of the rescue plan, but there is no disagreement that something substantial must be done," Bush said in a statement. In other news, the Chicago Tribune reports that Sen. John McCain has agreed to participate in Friday night's presidential debate even though Congress doesn't have a bailout deal. He had previously been pushing for a delay in the debate until the financial crises had been addressed. Source: Dow Jones International News (09/25/2008), Chicago Tribune (09/26/2008)
For more information on property for sale in the Panama City Florida area visit us online at http://www.randbcoastalrealestate.com/ and for general information on Panama City Beach Florida Real Estate click here!
Saturday, September 27, 2008
Monday, September 1, 2008
Lending Gets Tight and Tighter
At some point we have to ask......Can we make it any more difficult to buy a home or condominium?
I mean come on!!! The new ways of lending are great, but it's making it more and more difficult for people to complete transactions.
What is next? This is an interesting article on new FHA lending fees. We at http://www.investsmarter.com/ must ask how can people keep shelling out more and more money to close on a home? There are a few great solutions and please take a look at our Forum Section and provide us with feedback!
Daily Real Estate News August 29, 2008FHA Raises Upfront Premiums The Federal Housing Administration announced Tuesday that it is increasing the upfront premiums charged to most borrower to guarantee that a mortgage will be repaid. Effective Oct. 1, most borrowers will pay 1.75 percent of the loan amount, up from 1.5 percent because the FHA is adopting a “risk-based” pricing system based on borrowers’ credit scores and the amount of their down payment or equity.On a $300,000 loan, the new upfront premium works out to $5,250, up from $4,500. The annual premiums paid by borrowers would remain at 0.5 percent to 0.55 percent of the loan balance.Source: The Wall Street Journal, James R. Hagerty (08/28/2008)
So what can we do? Owner financing will be the wave of the future!
For more available properties please turn to http://www.randbcoastalrealestate.com/ for property for sale in and around Panama City Beach Florida.
I mean come on!!! The new ways of lending are great, but it's making it more and more difficult for people to complete transactions.
What is next? This is an interesting article on new FHA lending fees. We at http://www.investsmarter.com/ must ask how can people keep shelling out more and more money to close on a home? There are a few great solutions and please take a look at our Forum Section and provide us with feedback!
Daily Real Estate News August 29, 2008FHA Raises Upfront Premiums The Federal Housing Administration announced Tuesday that it is increasing the upfront premiums charged to most borrower to guarantee that a mortgage will be repaid. Effective Oct. 1, most borrowers will pay 1.75 percent of the loan amount, up from 1.5 percent because the FHA is adopting a “risk-based” pricing system based on borrowers’ credit scores and the amount of their down payment or equity.On a $300,000 loan, the new upfront premium works out to $5,250, up from $4,500. The annual premiums paid by borrowers would remain at 0.5 percent to 0.55 percent of the loan balance.Source: The Wall Street Journal, James R. Hagerty (08/28/2008)
So what can we do? Owner financing will be the wave of the future!
For more available properties please turn to http://www.randbcoastalrealestate.com/ for property for sale in and around Panama City Beach Florida.
Wednesday, July 16, 2008
Finally! Well...ok...it's a Step!
The Fed did come out with some modifying rules for lending. They seem like common sense to most of us, but the last few years a lot of people, real estate professionals also, we more into getting the deal done, than getting a deal that makes sense finished. The Panama City Beach Florida Condominium market is just as bad. With Foreclosure after Foreclosure and Short Sale after Short Sale, it's getting bad all the way around!!! Take some time to review the information below.
Fed Issues New Lending Rules
The Federal Reserve on Monday adopted rules designed to protect homebuyers from the kind of loans that drove many into foreclosure. The new rules apply to all lenders and not just to banks supervised by the Fed. Most are expected to take effect Oct.1, 2009. Escrow requirements won’t go into effect until April 1, 2010.Here are the new requirements:
Prevent loans made without documenting borrower’s income.
Require lenders to escrow money to pay taxes and insurance for risky borrowers.
Limit and in some cases ban prepayment penalties.
Prohibit lenders from making a loan without considering a borrower's ability to repay a home loan from sources other than the home's value.
Require mortgage advertising to contain information about rates, monthly payments and other features of the loan.
Insist lenders credit a mortgage payment to a home owner’s account on the day it is received.
Brokers and others are forbidden from "coercing or encouraging" an appraiser to misrepresent the value of a home.Source: The Associated Press, Jeannine Aversa (07/14/08)
For more information on Panama City Beach Florida Condominiums please visit www.Panama-City-Beach-Florida-Condominiums.com and for information on Smarter Investing in Real Estate visit www.InvestSmarter.com today and make sure you visit the forum section to share ideas!
Fed Issues New Lending Rules
The Federal Reserve on Monday adopted rules designed to protect homebuyers from the kind of loans that drove many into foreclosure. The new rules apply to all lenders and not just to banks supervised by the Fed. Most are expected to take effect Oct.1, 2009. Escrow requirements won’t go into effect until April 1, 2010.Here are the new requirements:
Prevent loans made without documenting borrower’s income.
Require lenders to escrow money to pay taxes and insurance for risky borrowers.
Limit and in some cases ban prepayment penalties.
Prohibit lenders from making a loan without considering a borrower's ability to repay a home loan from sources other than the home's value.
Require mortgage advertising to contain information about rates, monthly payments and other features of the loan.
Insist lenders credit a mortgage payment to a home owner’s account on the day it is received.
Brokers and others are forbidden from "coercing or encouraging" an appraiser to misrepresent the value of a home.Source: The Associated Press, Jeannine Aversa (07/14/08)
For more information on Panama City Beach Florida Condominiums please visit www.Panama-City-Beach-Florida-Condominiums.com and for information on Smarter Investing in Real Estate visit www.InvestSmarter.com today and make sure you visit the forum section to share ideas!
Thursday, July 3, 2008
Sell or not to Sell....what should you do?
Very interesting information comes to the front when we start talking about do we take an offer, come back with a counter, wait and see....you just never know. Here is an interesting article that does bring a few valid points to the front of our minds and something to think about. Find more online with www.InvestSmarter.com about the true market trends.
Daily Real Estate News July 2, 2008
Hard-Won Lessons from a Home Owner Minneapolis home owner Lucie Amundsen’s husband was transferred north to Duluth, Minn. She stayed behind to sell the house. Here's what she learned about selling a home in a tough market:
Make the commitment to sell. “This market eats wishy-washy sellers alive. Sellers should be prepared to let go.”
Steer clear of useless feedback. “I should have had the real estate professional who listed my home turn off the electronic feedback feature. He could have passed along any helpful information, while filtering out the more hurtful and pointed comments.”
Be prepared for the long haul. “Because I adore my house, I just assumed other people would, too. “
Respond to the market. “Long before the 40th showing, we should have dropped the price or taken the property off the market.”Source: Star-Tribune, Lucie B. Amundsen (06/28/2008
So we are starting to see more and more of this across the region. Not just because of the number of units and homes available but also based on the "bottom feeders" if you will trying to get into a lower price bracket and finding deals. Take some time to look at www.Panama-City-Beach-Florida-Condominiums.com for more information on the condos for sale and a link to the Panama City Beach Florida homes that are available. You will find more information for buyers and sellers also on this site.
Daily Real Estate News July 2, 2008
Hard-Won Lessons from a Home Owner Minneapolis home owner Lucie Amundsen’s husband was transferred north to Duluth, Minn. She stayed behind to sell the house. Here's what she learned about selling a home in a tough market:
Make the commitment to sell. “This market eats wishy-washy sellers alive. Sellers should be prepared to let go.”
Steer clear of useless feedback. “I should have had the real estate professional who listed my home turn off the electronic feedback feature. He could have passed along any helpful information, while filtering out the more hurtful and pointed comments.”
Be prepared for the long haul. “Because I adore my house, I just assumed other people would, too. “
Respond to the market. “Long before the 40th showing, we should have dropped the price or taken the property off the market.”Source: Star-Tribune, Lucie B. Amundsen (06/28/2008
So we are starting to see more and more of this across the region. Not just because of the number of units and homes available but also based on the "bottom feeders" if you will trying to get into a lower price bracket and finding deals. Take some time to look at www.Panama-City-Beach-Florida-Condominiums.com for more information on the condos for sale and a link to the Panama City Beach Florida homes that are available. You will find more information for buyers and sellers also on this site.
Wednesday, April 23, 2008
House heads for new tax showdown
House heads for new tax showdown
By MICHAEL C. BENDER
Palm Beach Post Capital Bureau
Wednesday, April 23, 2008
TALLAHASSEE — House Republicans today plan to push through heavy property tax cuts and strict government revenue caps, setting up another showdown with Senate leaders who have shown little interest in repeating the bitter tax debates of last year.
But hesitation from Senate leaders hasn't slowed House Republicans, who on Tuesday fended off several Democratic amendments from their proposals. But they have also done little to open lines of communications between the chambers on the issue.
On Tuesday, House lawmakers gave tentative approval to several property tax changes, including one constitutional amendment (HJR 7125) that would limit government revenues from growing each year by much more than inflation.
House Republicans said they have not pushed negotiations with Senate leaders, who have said they prefer to let Amendment 1 take root.
Democratic leaders said House Republicans unwillingness to accept amendments to the tax bills on Tuesday showed they weren't "serious" about tax cuts.
"You have a fatal attraction to sound bites that is killing real property relief," House Democratic Leader Dan Gelber told Republicans on the House floor. "If you want to vote for a sound bite or bumper sticker, go ahead. If you want to do something serious, come back and let us know."
House Speaker Marco Rubio, R-West Miami, acknowledged that the bills were meant, at least in part, to maintain credibility among voters.
"If we don't pass something, how can we continue to say that we believe in property tax reform?" Rubio said.
He said he hoped that Senate leaders would at least consider a bill (HB 7123) that would require local governments to post budgets online.
Rubio said he wouldn't force the Senate's hand to act on the property tax bills by holding other Senate bills to "trade" for the property tax changes.
But others hoped Rubio would deliver the amendment to the ballot.
"Everything is negotiable," said David McKalip, a St. Petersburg neurosurgeon and head of Cut Taxes Now, the citizens campaign group lobbying for the measure.
The group, which Rubio supports, spent $10,000 last week to air ads on at least four radio channels last week in Senate President Ken Pruitt's district, which includes Palm Beach, Martin and St. Lucie counties. Rubio said he thought the ads were "a bad idea."
Also last week, Rubio's top lieutenant, Republican Leader Adam Hasner of Delray Beach, participated in the group's telephone/Internet conference.
On Tuesday, the group visited the Capitol to lobby lawmakers to support a constitutional amendment (HJR 949) that would limit taxes to 1.35 percent of a property's value. It would cut statewide property taxes by $6.2 billion.
"We're trying to convince leadership from the grass roots," McKalip said. "They're having a $5 billion shortfall, because of the drag on the economy because of property taxes. They should want this."
www.InvestSmarter.com
www.RandBCoastalRealEstate.com
www.Panama-City-Beach-Florida-Condominiums.com
By MICHAEL C. BENDER
Palm Beach Post Capital Bureau
Wednesday, April 23, 2008
TALLAHASSEE — House Republicans today plan to push through heavy property tax cuts and strict government revenue caps, setting up another showdown with Senate leaders who have shown little interest in repeating the bitter tax debates of last year.
But hesitation from Senate leaders hasn't slowed House Republicans, who on Tuesday fended off several Democratic amendments from their proposals. But they have also done little to open lines of communications between the chambers on the issue.
On Tuesday, House lawmakers gave tentative approval to several property tax changes, including one constitutional amendment (HJR 7125) that would limit government revenues from growing each year by much more than inflation.
House Republicans said they have not pushed negotiations with Senate leaders, who have said they prefer to let Amendment 1 take root.
Democratic leaders said House Republicans unwillingness to accept amendments to the tax bills on Tuesday showed they weren't "serious" about tax cuts.
"You have a fatal attraction to sound bites that is killing real property relief," House Democratic Leader Dan Gelber told Republicans on the House floor. "If you want to vote for a sound bite or bumper sticker, go ahead. If you want to do something serious, come back and let us know."
House Speaker Marco Rubio, R-West Miami, acknowledged that the bills were meant, at least in part, to maintain credibility among voters.
"If we don't pass something, how can we continue to say that we believe in property tax reform?" Rubio said.
He said he hoped that Senate leaders would at least consider a bill (HB 7123) that would require local governments to post budgets online.
Rubio said he wouldn't force the Senate's hand to act on the property tax bills by holding other Senate bills to "trade" for the property tax changes.
But others hoped Rubio would deliver the amendment to the ballot.
"Everything is negotiable," said David McKalip, a St. Petersburg neurosurgeon and head of Cut Taxes Now, the citizens campaign group lobbying for the measure.
The group, which Rubio supports, spent $10,000 last week to air ads on at least four radio channels last week in Senate President Ken Pruitt's district, which includes Palm Beach, Martin and St. Lucie counties. Rubio said he thought the ads were "a bad idea."
Also last week, Rubio's top lieutenant, Republican Leader Adam Hasner of Delray Beach, participated in the group's telephone/Internet conference.
On Tuesday, the group visited the Capitol to lobby lawmakers to support a constitutional amendment (HJR 949) that would limit taxes to 1.35 percent of a property's value. It would cut statewide property taxes by $6.2 billion.
"We're trying to convince leadership from the grass roots," McKalip said. "They're having a $5 billion shortfall, because of the drag on the economy because of property taxes. They should want this."
www.InvestSmarter.com
www.RandBCoastalRealEstate.com
www.Panama-City-Beach-Florida-Condominiums.com
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