Thursday, May 31, 2012

Short Sales are Expected to Speed up Soon

See below the New York Times article reporting that short sale are expected to speed up.  Although it won't apply to all properties, maybe it will spur on the rest of the industry - we can only hope

WASHINGTON – May 30, 2012 – The short-sale process is expected to get shorter starting June 15. New guidelines issued under the Federal Housing Finance Agency will require Fannie Mae and Freddie Mac to give homebuyers of short sales notice of their final decision within 60 days. The new guidelines also will require the mortgage giants to respond to initial short-sale requests within 30 days of receiving an offer.

The speedier process is expected to be a boost to the housing market, Michael McHugh, president of the Empire State Mortgage Bankers Association, told the New York Times. Homebuyers and sellers often have to wait months before they receive a short sale decision from a lender. Some deals fall apart just from the wait alone.

Short sales have been increasing in recent months as many lenders find them more appealing than foreclosures, which can cost more and take longer to remove from their books.

Short sales now outpace foreclosure sales in many parts of the country. Short sales represent more than 14 percent of existing-home sales, according to CoreLogic housing data from March, the most recent month available.

McHugh says that a faster short-sale process may be particularly helpful in speeding the recovery in judicial states, where foreclosures must go through the courts before they are approved. Now short sales may be viewed by defaulting homeowners as more of an option if they want to avoid foreclosure.

“There should be a significant improvement in the turnaround,” McHugh said regarding housing markets with judicial foreclosure processes.

Source: “Speeding Up Short Sales,” The New York Times (May 24, 2012)

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Wednesday, May 30, 2012

Penthouse For Sale On Ft Lauderdale Beach

The penthouse at the Q Club Luxury Condominiums located in the Hilton Fort Lauderdale Beach Resort is for sale.  The view from this unit is spectacular.  When you open the door, the floor-to-ceiling windows treat you to views of the blue waters of the Atlantic, the beach, the surrounding community, and downtown Fort Lauderdale.

At 2,740 square feet, this 3-bedroom, 3.5 bath fully furnished unit has plenty of room to enjoy the view, relax, or, if you must, conduct that business meeting.

Resort amenities are available including a tropical pool deck with swaying palm trees and cabanas, concierge, room service, valet service, business center, and on-site bar and restaurants.  The hotel offers management and revenue sharing .

Offered at $1.8M  Call me at (954) 205-4137 to set an appointment for viewing or to make an offer.

See the May issue of Tropic magazine for pictures.

Sunday, May 27, 2012

Weather si still perfect on Ft Lauderdale Beach

Mother Nature is giving us another beautiful so please enjoy it, but keep an eye on Beryl.  Be safe on the beach, the highways, or at the pool.

Friday, May 25, 2012

Memorial Day Weekend on Ft Lauderdale Beach

Are you going to be in Ft Lauderdale over the Memorial Day weekend?  If so , you are going to want to check out the Great American Beach Party on Saturday at A1A and Las Olas Boulevard.

Live Bands - Art Show - Parachute Team...and Lots More!
Visit www.FortLauderdale.Gov for the complete details

See you there!

Thursday, May 24, 2012

Lauderdale's North Beach

You may not know that the neighborhood between Sunrise and Las Olas Boulevards in Ft Lauderdale is called the "North Beach", but you will hearing a great deal about this area in the future.  The neighborhood is enjoying a face lift, a resurgence, a renaissance - call it what you will, but be sure to enjoy all that it has to offer. 

The Sun-Sentinel article featured here is full of good information - read on! 


Boutique hotel Aqua opening in Lauderdale's North Beach Village

Tuesday, May 22, 2012

Welcome

Welcome to my blog about Ft Lauderdale Beach.  I will periodically be updating my blog with useful relevant real estate information.