For many people condo
associations boards especially in 55+ communities are a pain in the neck. These
association boards often behave as if they are the sole owner of the whole complex. They
execute their rights like little kings and queens and oppress their members. Many of the elderly members are so afraid of them, that they do not defend themselves
even, when they are discriminated by the association board.
I made numerous
experiences with these association boards and I tried to motivate my customers
to take action and report the abuse to the authorities, but sadly they did not.
When Hispanic cash buyers try to get an approval for a unit purchase from
the association board, my buyer was treated like a criminal and financial problems
that happened ten years ago were used as an excuse for the approval denial. Even
when this buyer brought his daughter as in additional sponsors into the picture,
my buyer was denied by the association board.
After these two difficult
attempts, my cash buyer gave up and the association board won.
The newest court
decision in connection with the discrimination law may help in the future. Now
even an unintentional discrimination is a violation of the Fair Housing Act and
can be reported to the responsible authorities.
Want to know more?
Contact us at info@florida-informations.com
Many homeowners asked
themselves this question, because they fear that their today’s home might not
fit for their later life. How can you find a better way to enjoy your home even
when you age? Is the better question and you might like the answer to this
question even more.
Many adjustment can be
made in your home, that will simplify your life. Think about what challenges you
might have in the future. For example when you might need a walker or a
wheelchair, the widening of doorways will be a good idea. You also should look
into options to make your kitchen and bathrooms better usable and easy to
access for your later needs.
When your bedroom is
on the second floor, evaluate your options either to move your bedroom to the
ground floor or install an elevator. Option one is easier and cheaper than
option two. However, when you are an anxious person, you will be more
comfortable with option two. For option two – elevator – you have to spend more
money in the installation process and you might need a loan for the successful realization.
These are only a few
ideas for your home alteration for your retirement and you should always think
about what you need and what it may cost you. Before you start with such a
project you should always seek the advice of a professional, so that you get best
available option for your needs.
You need help and some ideas how to start? You can reach us at andrea@florida-informations.com
Over the last months the US dollar strengthened against
other foreign currency, however the international buyer are still coming and
purchase real estate in the US. The volume amount of these real estate
transactions have even increased, while the number of the purchased units have
decreased. That means there are less international buyers that buy, but these
buyer are buying more expensive units. That results in an overall plus of these
international real estate transactions.
There are five countries worldwide, who are responsible
for 51 % of the real estate transactions. China is on the top nations with 28.6
billion and they bought the most expensive homes. The average home price for
the international buyers was slightly below half a million, while the home
prices of the Chinese buyers were beyond the $800,000 mark.
Second on this list are the Canadians with 11.2 billion,
on position three, four and five come India, Mexico and the United Kingdom.
There are four states in the US, that are the preferred
target areas for these international real estate buyers: Florida, California,
Texas and Arizona according to the market data of the NAR.
These positive numbers show that Florida is still a very
attractive spot for international real estate investors despite of the US
dollar strength.
You need help for your international real estate
purchase? We can help at andrea@florida-informations.com
.
As a preparation for your purchase project here our book: http://www.amazon.com/Your-Residence-Paradise-Property-Purchase/dp/0986252913
Some borrowers seems to
think, that they are smarter than the lenders. They should be very careful,
because the lenders have learnt from their losses during the last finance crisis.
They are much more vigilant when it comes to mortgage applications and look for
facts that are not logical like a very long commute between their potential new
home and their workplace.
When a borrower is in the
purchase process and applies for a mortgage he/she has to provide evidence of income payments. Such evidence are paychecks from the employer. With this
information the lender has a lead, whether the borrower is truthful or not. It is very
unlikely to buy a property far away from the workplace and claim that the property
is a primary residence only to get a better interest rate and lower down payment
requirements.
The difference in the down payment amount is significant, when a primary residence is purchased. The lowest
down payment for a primary residence is 3 % of the purchase price and for a
non-primary residence the down payment is at least 15 %.
Let's make an
example: when the purchase price of a home is $100,000, the difference in the down payment amount is $12,000. The lower down payment
on a home rises also the risk for the lender, because borrower that want a
mortgage for a non-primary residence are more likely to sneak out of their
repayment obligation than primary residence owners. The banks do not want to assume that
higher risk and try to protect the loans better.
You want to prepare for a loan application? Contact us at andrea@florida-informations.com
Some people have no
respect for other people’s property and break into vacant homes. They live in
your home without your permission and therefore they don’t pay rent and don’t
even intend to pay rent. How can you get them out of your property? You ask
yourself.
There are a few
details to take into consideration, so that you don’t get into trouble yourself.
Even when you have the legal right to vacate your property, it is always better
to go not alone. Before you go, check with the sheriff or the police department which law
enforcement department is responsible for this kind of issue and who will be the appropriate officer to take with you.
Based on the
trespassing laws, you have the right to get squatters out of your premises,
however you always should get an officer in uniform with you. This is not only for
your own protection, but also because these officer has to verify some information
about the ownership of the property first. Then you both go to your property with the
squatters and give the squatters the trespass warning and demand the immediate
eviction of the house.
Don’t give the squatters longer period for the eviction then 30 minutes, because
a longer time period can be misunderstood by the squatters as a permission
to stay in your home.
You have question how
to start? You can contact us at info@florida-informations.com
Often it is really hard to deal with
the condo associations, when you would like to move into a condo community. The condo associations try to use their own regulations, when it comes
to the approval of new residents in their community and these regulations not always comply with the Fair Housing Act.
My experience in the real estate
show that many associations violate the Fair Housing Regulation based
on their rules and regulations and they often go away with it.
During a sales transaction, it was a cash deal
for a condo in a nice area, the buyer was denied with flimsy excuses. His
daughter and son-in-law even offered to go with the father on the deed and take
financial responsibility. That is more that a association could asked
for and they still denied the approval.
That specific association had already some violations with the HUD regulation, but nobody seems to care. However, a broker
in such a transaction has only limited options to intervene and can only
encourage the discriminated person to raise his/her voice and go after such
associations.
In my specific case the buyer and his family who have a Hispanic background were
so badly mistreated that they let this perfect condo go. That is not only sad
for the buyer, but it encouraged the condo association to stick to their
behavior and do it again the next time.
Every homeowner in a condo community
deserves a respectful and fair treatment, but this often only exists in the
words that are spoken and not lived. There are only a few people that speak up.
When we would like to have change in this condo association behavior, all
affected people should speak up and complaint. When there are enough complaints, these condo associations will have to listen and comply, otherwise they will risk government fines.
You want to know how to do it?
Contact us andrea@florida-informations.com
You are ready to
become a new home owner? You did your homework and have a pre-approval letter from
your lender in the pocket? You are excited to go on the house hunt and see your
dream homes from the inside? In your dreams you already have moved into your home and you
picture yourself in your new domicile. However, are ready for the next step
too?
The next step is to
make an offer for your new home and it is important how you make that offer.
You need to ask yourself, how much your potential new home means to you and that
is the base for your offer to the seller.
The seller is the
owner of your new home and he/she decides which offer is the best for them.
Your agent should do his/her best to find out the seller’s motivation and why
he/she sells. However, that is a tough issue for your buyer agent and often the
seller will not share his/her sale motivation with anybody than himself/herself.
Therefore you should
sit down with your buyer agent and draft the most desirable offer you can
afford. That means it should be your highest possible price bit, however do not
ignore the remaining contract terms like flexible closing date or the earnest
money amount. These two can be strong arguments too and work in your favor. Take your time and make it right and you will be successful.
You want to know how to make it right?
Contact us at andrea@florida-informations.com
A few years ago the golf communities thrived when they had an excellent designed
and maintained golf course. However, that is no longer enough in this competitive
golf world to be successful and survive. As statistics show more golf courses
have closed in the most recent time than new ones have opened.
The developers of these golf communities have realized that they have to offer
more than only golfing and putting greens in a nice manicured grass area.
The newer golf community developments include recreation areas with fruit
trees and designed landscaped parks. Another option are additional sport activity options like
yoga and gym training or horseback riding a la ranch style and luxury camp
grounds.
You will not find everything at every community, therefore you have to make your
choice what fits best to your individual lifestyle.
Your are looking for such a lifestyle place? Please contact us at info@florida-informations.com
