Like thousands of local homeowners in their golden years, Rosemary Chandler took out a reverse mortgage in 2005 to help pay her expenses and remain in the Elk Grove home that’s been in her family since the 1940s. The decision worked out fine during her lifetime. But since her death in January 2010, it has …
Category Archives: Investment Tips
Depressed prices spur sales of getaway cottages
Michigan’s vacation home market is crawling toward recovery with an uptick in sales, according to real estate agents across the state. But not all regions are seeing progress, most prices remain discounted, and more buyers are paying all cash. Sales have risen in many areas, ranging from the lower west side to the northwest tip …
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How to Think About Refinancing
Everyone tells me that this blog has become perhaps a mite gloomy over the past few days . . . weeks . . . months. So let’s look at one of the rare bright spots in this financial Twilight of the Gods: mortgage rates. They’re really low. So low that my husband and I, who …
Fueled by strong demand, Miami condo rents rise in double digits
Strong demand and rapidly diminishing inventory is significantly boosting rental rates in Brickell’s condos, brokers say. “Rents have gone up by 12%-15%,” said Edgardo Defortuna, president of Fortune International Realty. "In our luxury buildings, we used to rent for $1.85-$1.90 a foot. Now it’s $2.20-$2.35 a foot.” In some properties such as Icon Brickell, he said, there’s …
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Expert Tips for Buying a Foreclosed Condo in Today’s Market
A recent RealtyTrac/Trulia survey revealed that 85 percent of current homebuyers are interested in distressed properties—residences that have been foreclosed or are being offered as short sales. At the same time, the city and suburbs possess a substantial stock of distressed condos, lost either by homeowners or by developers. But buying a foreclosed condo has …
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Miami residential sales recovery rockets past rest of nation
After experiencing one of the worst housing market crises, Miami is making a strong comeback — above other major cities in the US — fueled by international investors buying local real estate with cash. The coastal and desert regions in the US, including South Florida, are seeing significant sales activity compared to the rest of …
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