Well, it was a matter of time....what are rates going to do? Who really knows what will happen, but most investors and owners were hoping rates would stay low. We have talked time and time again about this market and how we know our society is a minimum monthly payment world! So basically.....what can we afford monthly..not what the price is. The Destin Florida Condo market is no different. We see prices go up when interest rates go down...and we are now seeing the opposite....is that something different? Seems pretty cut and dry to most people! Below is a review of the current rate market and what is happening on a global scale:
30-Year Mortgage Rates Rise This Week Freddie Mac's Primary Mortgage Market Survey, released Thursday, shows the 30-year fixed-rate mortgages rose to an average of 6.09 percent this week, with an average 0.7 point. Rates are up from last week when they averaged 5.78 percent, but are lower than last year at this time, when 30-year rates averaged 6.42 percent.Thirty-year fixed-rate mortgages are still more than 0.5 percentage points below this year's peak of 6.63 percent, set the week of July 24th.15-Year Rates at 5.77%The 15-year fixed-rate mortgage this week averaged 5.77 percent with an average 0.6 point, up from last week when it averaged 5.35 percent. A year ago at this time,15-year mortgage rates averaged 6.09 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.02 percent this week, with an average 0.6 point, up from last week when it averaged 5.67 percent. A year ago, the 5-year ARM averaged 6.15 percent. One-year Treasury-indexed ARMs averaged 5.16 percent this week with an average 0.5 point, up from last week when it averaged 5.03 percent. At this time last year, the 1-year ARM averaged 5.60 percent. Market Remains Soft"The latest housing information for the third quarter continues to show some softness in prices and sales activity," said Frank Nothaft, Freddie Mac vice president and chief economist. He noted that house prices fell 5.3 percent over the twelve months ending in July – weaker than the market consensus – according to the Federal Housing Finance Agency's purchase-only house price index. Meanwhile, the August median sales price for existing single-family homes fell 9.7 percent over the year earlier, the largest 12-month drop since records began in 1968, according the NATIONAL ASSOCIATION OF REALTORS®. Source: Freddie Mac
For more information on property for sale in and arround the Destin Florida Condo market please visit us online to find out more about the wonderful opportunities in Destin Florida.
Saturday, September 27, 2008
Monday, September 1, 2008
Inheriting Property Can Get Confusing
Some people end up getting eaten alive when a family member passes and you inherit the property. Below is a great way of looking at the overview of this process. It doesn't matter if it's a Destin Florida Condo or if it's a Destin Florida Home. Take the time to find a qualified accountant, attorney and real estate professional to assist you!!
Daily Real Estate News August 28, 2008What to Know About Inheriting Property Inheriting property can be exceedingly confusing for the heirs, particularly if they plan to sell the property. While getting expert legal advice is the best approach for the person who has inherited property, here is some basic information that can help a real estate professional better understand the situation.
Every state has a legal process that allows the person who was willed property to transfer ownership of it from the previous owner’s name to the new owner’s name. The attorney assisting with the probate of the will can help fill out the forms. If there is no lawyer involved, sometimes someone in the clerk of courts office can guide the person inheriting property through the transfer process.
Generally, there is little or no transfer tax or other cost involved because the person who is inheriting the property didn’t pay anything for it.
When a person dies and title is transferred to a spouse or a child, the due-on-sale clause in a mortgage contract doesn’t apply. Otherwise, while a lender could call the loan, in the current economic climate it is unlikely if the person inheriting the property makes regular payments.Source: Real Estate Matters Syndicate, Ilyce Glink (08/24/2008)
Many people get overwhelmed and are already way too emotional to be able to handle so much stress. Take the time to allow qualified people to be of assistance!
http://www.randbcoastalrealestate.com/
Daily Real Estate News August 28, 2008What to Know About Inheriting Property Inheriting property can be exceedingly confusing for the heirs, particularly if they plan to sell the property. While getting expert legal advice is the best approach for the person who has inherited property, here is some basic information that can help a real estate professional better understand the situation.
Every state has a legal process that allows the person who was willed property to transfer ownership of it from the previous owner’s name to the new owner’s name. The attorney assisting with the probate of the will can help fill out the forms. If there is no lawyer involved, sometimes someone in the clerk of courts office can guide the person inheriting property through the transfer process.
Generally, there is little or no transfer tax or other cost involved because the person who is inheriting the property didn’t pay anything for it.
When a person dies and title is transferred to a spouse or a child, the due-on-sale clause in a mortgage contract doesn’t apply. Otherwise, while a lender could call the loan, in the current economic climate it is unlikely if the person inheriting the property makes regular payments.Source: Real Estate Matters Syndicate, Ilyce Glink (08/24/2008)
Many people get overwhelmed and are already way too emotional to be able to handle so much stress. Take the time to allow qualified people to be of assistance!
http://www.randbcoastalrealestate.com/
Friday, July 18, 2008
Cash is King!
Today's investors whether in the Destin Florida Condo market or in any real estate transaction, times are getting tough. Banks are tight and many are closing...this is going to be a great time for people that can still borrow money and even better with the right guidance!
We have taken some time to talk online about short sales and foreclosures, but take a look below for different take on what's happening:
Investors With Cash Are Kings in Today's Market
Some are calling this the best market for investors since real estate tanked in the early 1980s. Investors, alone and in groups, are negotiating volume deals as they purchase whole subdivisions and bundles of 10 to 50 defaulted loans for pennies on the dollar. "What we're seeing today dwarfs [the 1980s] by five or 10 times," says Bob Leonetti, president of SMI Funding, an Austin, Texas, company that originates and acquires private and conventional mortgages. "There are huge opportunities for investors.""People who have cash positions now are going to do very well," says Central Florida real estate practitioner Mike Norvell of Developers Capital Realty in Leesburg, Fla. "It's just crazy the prices you can buy for right now for cash."
Source: Investor’s Business Daily, Kathleen Doler (07/07/08)
For more information on investing strategies please visit www.InvestSmarter.com and for available properties in the Destin Florida Condo market please visit www.Destin-Florida-Condominiums.info today for more exciting real estate opportunities.
We have taken some time to talk online about short sales and foreclosures, but take a look below for different take on what's happening:
Investors With Cash Are Kings in Today's Market
Some are calling this the best market for investors since real estate tanked in the early 1980s. Investors, alone and in groups, are negotiating volume deals as they purchase whole subdivisions and bundles of 10 to 50 defaulted loans for pennies on the dollar. "What we're seeing today dwarfs [the 1980s] by five or 10 times," says Bob Leonetti, president of SMI Funding, an Austin, Texas, company that originates and acquires private and conventional mortgages. "There are huge opportunities for investors.""People who have cash positions now are going to do very well," says Central Florida real estate practitioner Mike Norvell of Developers Capital Realty in Leesburg, Fla. "It's just crazy the prices you can buy for right now for cash."
Source: Investor’s Business Daily, Kathleen Doler (07/07/08)
For more information on investing strategies please visit www.InvestSmarter.com and for available properties in the Destin Florida Condo market please visit www.Destin-Florida-Condominiums.info today for more exciting real estate opportunities.
Thursday, July 3, 2008
Lending Getting tighther
Well times aren't getting much better. The strong will survive this market...or at least those that can weather the storm we should say! We have broken out a few intersting articles at www.InvestSmarter.com to target in on what we are seeing but here is an interesting story about lending:
Daily Real Estate News July 1, 2008Mortgage Ruling Could Have Big Impact The 7th U.S. Circuit Court of Appeals is expected to rule sometime this month on a case that could force the U.S. banking industry to cancel or rescind loans if borrowers prove that their lenders violated a federal lending disclosure law.The decisions stems from a lawsuit filed by a Wisconsin couple who last year sued their bank and sought class action status. The judge not only agreed to that but also ruled that borrowers could force the bank to rescind their loans as a class remedy.Should the 7th U.S. Circuit Court of Appeals agree that rescission be a class remedy, banking industry analysts predict "confusion and market disruption" as banks curtail lending further."If class treatment is found to be available for rescission ... the result all over the country could be massive class suits," says Christine Scheuneman, a partner at Pillsbury Winthrop Shaw Pittman LLP, which represented Chevy Chase Bank in the initial lawsuit. Supporters of rescission as a remedy say the banking industry is overstating the results of such a ruling. Both sides agree that the U.S. Supreme Court will likely decide the case.Source: Reuters News, Gina Keating (06/30/08)
The key is knowing the facts of any piece of property whether in Destin Florida or in Northwest Florida in general. Play close attention to the www.destin-florida-condominiums.info market and also the new site dedicated to Destin Real Estate in general at www.real-estate-destin-florida.com for more information on what is available in today's ever changing real estate market.
Daily Real Estate News July 1, 2008Mortgage Ruling Could Have Big Impact The 7th U.S. Circuit Court of Appeals is expected to rule sometime this month on a case that could force the U.S. banking industry to cancel or rescind loans if borrowers prove that their lenders violated a federal lending disclosure law.The decisions stems from a lawsuit filed by a Wisconsin couple who last year sued their bank and sought class action status. The judge not only agreed to that but also ruled that borrowers could force the bank to rescind their loans as a class remedy.Should the 7th U.S. Circuit Court of Appeals agree that rescission be a class remedy, banking industry analysts predict "confusion and market disruption" as banks curtail lending further."If class treatment is found to be available for rescission ... the result all over the country could be massive class suits," says Christine Scheuneman, a partner at Pillsbury Winthrop Shaw Pittman LLP, which represented Chevy Chase Bank in the initial lawsuit. Supporters of rescission as a remedy say the banking industry is overstating the results of such a ruling. Both sides agree that the U.S. Supreme Court will likely decide the case.Source: Reuters News, Gina Keating (06/30/08)
The key is knowing the facts of any piece of property whether in Destin Florida or in Northwest Florida in general. Play close attention to the www.destin-florida-condominiums.info market and also the new site dedicated to Destin Real Estate in general at www.real-estate-destin-florida.com for more information on what is available in today's ever changing real estate market.
Monday, June 16, 2008
Real Estate Funds Much Better Than '07
Real Estate Funds have been struggling the last year or so, but finally we see and upturn in 2008. The rolling average has been negative, but 2008 has shown some pretty strong numbers for the first part of the year. With some points hitting as high as 9% most feel that this is a strong point for the industry.
Daily Real Estate News June 16, 2008
Real Estate Funds Much Better Than '07
The stocks of companies that own and manage self-storage buildings, apartment complexes, shopping centers, and office buildings are on the rise after a miserable 2007.The average real-estate fund is up 9 percent in 2008, compared with the average U.S. diversified stock fund, which are on average down 2 percent, according to Lipper Inc.Real-estate funds are down 8 percent for the 12-month period because of last year’s real estate market malaise. But the three-year annualized return is 9 percent and the five-year annualized return is 16 percent."There has been quite an inflow of money into real-estate funds this year because people believe the market has already priced in many of the negatives about the economy and real estate," says Barry Vinocur, editor of Realty Stock Review.Source: Tribune Media Service, Andrew Leckey (06/15/2008)
For more information on this and other properties available in the Destin Florida Condominium market please vist www.InvestSmarter.com
Daily Real Estate News June 16, 2008
Real Estate Funds Much Better Than '07
The stocks of companies that own and manage self-storage buildings, apartment complexes, shopping centers, and office buildings are on the rise after a miserable 2007.The average real-estate fund is up 9 percent in 2008, compared with the average U.S. diversified stock fund, which are on average down 2 percent, according to Lipper Inc.Real-estate funds are down 8 percent for the 12-month period because of last year’s real estate market malaise. But the three-year annualized return is 9 percent and the five-year annualized return is 16 percent."There has been quite an inflow of money into real-estate funds this year because people believe the market has already priced in many of the negatives about the economy and real estate," says Barry Vinocur, editor of Realty Stock Review.Source: Tribune Media Service, Andrew Leckey (06/15/2008)
For more information on this and other properties available in the Destin Florida Condominium market please vist www.InvestSmarter.com
Thursday, June 5, 2008
Launch of Destin Florida Condo
Welcome to the launch of Destin Florida Condo and the new and exciting world of condo ownership in Destin Florida. Many people come to the Emerald Coast every year and are looking for a great place to invest. Unfortuantely for most, they don't always have the luxury to see all there is to offer in the Destin Florida Condo market. This feedback has been given to us time and time again from clients that want to know more about the area, but they also want to enjoy their vacation. We took the time necessary to have this wonderful website developed and linked to http://www.destin-florida-condominiums.info/. Destin Florida Condo blog and the Destin Florida Condominium information website will allow users to look online and search all of the Destin Florida Condos on the market from the luxury of their living room. Take some time today to play around with this wonderful site. You can search for Destin properties by price, location, bedrooms, you name it....it's all available for you in our website. See something you like, it's easy to gather more information about that Destin Florida Condo by clicking on the inquire information link. You will get instant feedback and one of our agents will put together additional information on the Destin Florida Condo or Destin Florida condos you are requesting. We always appreciate feedback so any other information or things that would make the site easier to use are always greatly appreciated.
Have a wonderful day and we look forward to working with you soon!
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