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
Are you also tired in
spending month after month more money for power and water only to keep your home cool and
your landscaping blooming and green? Then it is time for a change. Sit down and
start your plan for the change.
Florida is a wonderful
and sunny state with a mild breeze and some rain. That is what Mother Nature
gave you and it is your turn to apply this natural resource to your home.
The sun offers you the
opportunity to install solar panels on your roof. These panels are collecting
the energy of the sunshine and transforms it into electricity. You can use this
electricity to power your appliances in the home during the day time. That can
already save much money, especially when you use energy efficient appliances.
Another easy fix in your home is to
seal the windows and doors, so that the cool interior air cannot escape to the
outside through these tiny spaces. And the insulation of your attic is also a
good idea, especially when you have a flat roof or only a small pitch. The summer heat comes directly into your interior space and your A/C has to
work harder to cool that air down.
These tips are hints
in going green. You need help how to get started? We are here for you info@florida-informations.com
