Foreclosures bringing bad debt Q:As you know, many associations are dealing with the impact of some residents’ inability to pay assessments. Many owners are facing foreclosure. As a result of the rules governing foreclosures, for the first time our association expects to incur some bad debt expenses this year. Do you have any advice on …
Category Archives: Investment Tips
Condo King Corus Weighs Its Options
Condo King Corus Weighs Its Options The bank that funded a big part of the condominium boom is considering selling all or part of itself as rising defaults force it to seek capital. Corus Bankshares Inc., a symbol of the exuberance for glass-and-steel condo towers from Miami to Los Angeles, reported a $260.7 million quarterly …
Finding Funding for a Real Estate Venture
Finding Funding for a Real Estate Venture Q: I recently started a small business of buying and rehabbing homes for rental to the incoming military in the area. The banking crunch has halted our purchases as of now. I am looking for funding to complete the homes already purchased. Is there help out there for …
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Joe Adams: Pooled reserves ensure there’s cash when needed
Joe Adams: Pooled reserves ensure there’s cash when needed Q: Our board of directors has been talking about switching over to “pooled” reserves. Can you explain what this means? L.A. (via e-mail) Advertisement A: The concept of funding condominium reserves through the “pooling” method, sometimes also known as the “cash flow” method, came into vogue …
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New rules raise the bar for condo mortgages in Florida – Business – MiamiHerald.com
New rules raise the bar for condo mortgages in Florida Lending giant Fannie Mae is slapping tough new requirements on mortgages for Florida condos, moves that analysts believe will make it even more difficult to sell units in buildings already starved for residents and struggling financially. The standards, which took effect last week and apply …
Future retirees buying homes in Southwest Florida now to enjoy later
Future retirees buying homes in Southwest Florida now to enjoy later Flexible work schedules and the lowest home prices in years are attracting a new type of buyer to Southwest Florida — future retirees. These buyers are planning ahead for retirement, purchasing now to enjoy later. In the meantime, many are testing the Florida waters, …
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