We must keep asking this question. The Destin Condo market, like many other real estate markets, is controlled by interest rates and monthly payments. This article goes into a little more depth on what is coming in the mortgage industry. Hopefully things will continue to get a little bit better as we go down this path!
Lenders Move Slowly to Modify Loans U.S. mortgage service companies permanently eased terms on about 79,000 home loans in August, slightly less than in July.Total workouts in August, which include new payment plans for existing contracts, slipped to 188,931 compared to July’s 192,220, according to Hope Now, the voluntary coalition of mortgage servicers and investors.In all, the industry has performed some form of workout on 2.3 million loans since July 2007. About one-third of those were permanent modifications, Hope Now announced Thursday.Paul Koches, general counsel of subprime mortgage servicer Ocwen Financial Corp., said a loan modification benefits both the borrower and the lender because losses on foreclosed homes are running at more than $100,000 per property. "It sure beats the alternative," Koches said.Nevertheless, the level of loan modifications varies dramatically in the industry, according to a Credit Suisse report released this week. Among 18 loan servicers, modification rates among subprime loans made since 2005 ranged from under 2 percent to nearly 18 percent as of August. Ocwen Financial had the third-highest level of loan modifications in the Credit Suisse report.Source: Reuters News and The Associated Press (10/02/08)
For more information on the real estate market in your area please visit us online at http://www.randbcoastalrealestate.com/ servicing the Florida Panhandle.
Monday, October 6, 2008
Monday, September 1, 2008
Rates Remain Stable Leads to a Stable Real Estate Market
Many people want to know what the rates are doing...noone wants to lock in and see rates drop so we have two things against this real estate market whether it's a Destin Condo, Destin Home, or any other type of Destin Florida Real Estate.
What is my monthly payment...which is determined by two things:
1) Interest Rate
2) Purchase Price
Of course taxes and insurance come into play, but those are variables we can't really control...so we default back to the above. Luckily we are seeing a stable line on both of these. Below is an interesting article about the interest rates and a prediction of where the Fed is going:
Daily Real Estate News August 27, 2008Key Rate May Rise, Fed Report Suggests Federal Reserve policymakers decided to hold a key interest rate steady at 2 percent for their August meeting, according to documents that also suggest the next action will be to raise rates. Released on Aug. 26, the documents reveal that "members generally anticipated that the next policy move would likely be a tightening" and indicate that economic growth and inflation would determine the timetable for any hikes. The Fed is unlikely to raise rates to reign in inflation until next year, according to most economists. Fed Chairman Ben Bernanke has suggested that the central bank will hold rates at 2 percent for the September meeting and for the rest of this year. Source: Washington Post, Jeannine Aversa (08/27/08)
So to stay on top of the market trends and available property please visit http://www.randbcoastalrealestate.com/ and visit the forum section of http://www.investsmarter.com/ where we talk more about what is happening in the Real Estate market and investing in smarter ideas for property and business!
What is my monthly payment...which is determined by two things:
1) Interest Rate
2) Purchase Price
Of course taxes and insurance come into play, but those are variables we can't really control...so we default back to the above. Luckily we are seeing a stable line on both of these. Below is an interesting article about the interest rates and a prediction of where the Fed is going:
Daily Real Estate News August 27, 2008Key Rate May Rise, Fed Report Suggests Federal Reserve policymakers decided to hold a key interest rate steady at 2 percent for their August meeting, according to documents that also suggest the next action will be to raise rates. Released on Aug. 26, the documents reveal that "members generally anticipated that the next policy move would likely be a tightening" and indicate that economic growth and inflation would determine the timetable for any hikes. The Fed is unlikely to raise rates to reign in inflation until next year, according to most economists. Fed Chairman Ben Bernanke has suggested that the central bank will hold rates at 2 percent for the September meeting and for the rest of this year. Source: Washington Post, Jeannine Aversa (08/27/08)
So to stay on top of the market trends and available property please visit http://www.randbcoastalrealestate.com/ and visit the forum section of http://www.investsmarter.com/ where we talk more about what is happening in the Real Estate market and investing in smarter ideas for property and business!
Friday, July 18, 2008
IRS Looking Closer into Real Estate Professionals..Taxation
Just when we were wondering what's next? We found it. So what do we do now when it comes to Destin Condos? We have to dig a little deeper if we are in the business of condo or real estate rental.
IRS Gets Picky About Who's a Real Estate Pro The Internal Revenue Service (IRS) is taking a closer look at income tax statements submitted by individuals claiming to be real estate professionals, given that the agency has released new guidelines regarding this tax status.Licensed real estate agents and brokers do not always qualify for real estate professional status under the new rules, which mandate that individuals spend no less than 750 hours on qualified real estate activities: developing, redeveloping, constructing, reconstructing, acquiring, converting, renting, operating, managing, leasing, or selling property. This means that those with full-time jobs elsewhere cannot claim to be real estate professionals. Additionally, the IRS says losses tied to real estate activities are either passive or materially participating passive, with passive losses deductible only from passive income and materially participating passive losses deductible from other income.Those who use limited partnerships to hold property are not considered to be materially participating, and the agency is increasingly targeting limited partnerships for auditing. The IRS also is looking to make sure those claiming material participation either work 500 hours per property or aggregate the properties into one 500-hour period, and they are cracking down on those who do not meet this benchmark.Real estate investors are eligible for $25,000 in deductions from passive income up to $100,000 in taxable income; while real estate professionals do not have dollar or income limits, making the distinction ever-important to the tax planning process.
Source: Realty Times, Diane Kennedy (07/17/08)
For more investment advice and updates stay tuned to www.InvestSmarter.com and for more information on the Destin Real Estate market take some time to search online at www.Destin-Florida-MLS.com and www.real-estate-destin-florida.com. These sites are part of the InvestSmarter network.
IRS Gets Picky About Who's a Real Estate Pro The Internal Revenue Service (IRS) is taking a closer look at income tax statements submitted by individuals claiming to be real estate professionals, given that the agency has released new guidelines regarding this tax status.Licensed real estate agents and brokers do not always qualify for real estate professional status under the new rules, which mandate that individuals spend no less than 750 hours on qualified real estate activities: developing, redeveloping, constructing, reconstructing, acquiring, converting, renting, operating, managing, leasing, or selling property. This means that those with full-time jobs elsewhere cannot claim to be real estate professionals. Additionally, the IRS says losses tied to real estate activities are either passive or materially participating passive, with passive losses deductible only from passive income and materially participating passive losses deductible from other income.Those who use limited partnerships to hold property are not considered to be materially participating, and the agency is increasingly targeting limited partnerships for auditing. The IRS also is looking to make sure those claiming material participation either work 500 hours per property or aggregate the properties into one 500-hour period, and they are cracking down on those who do not meet this benchmark.Real estate investors are eligible for $25,000 in deductions from passive income up to $100,000 in taxable income; while real estate professionals do not have dollar or income limits, making the distinction ever-important to the tax planning process.
Source: Realty Times, Diane Kennedy (07/17/08)
For more investment advice and updates stay tuned to www.InvestSmarter.com and for more information on the Destin Real Estate market take some time to search online at www.Destin-Florida-MLS.com and www.real-estate-destin-florida.com. These sites are part of the InvestSmarter network.
Thursday, July 3, 2008
The worst may yet to come
Well.....guess it's that time again to dig deaper into what is going on in this market. Foreclosures are the hot item along with short sales..but what does that really mean? Where is the market going? Have we seen the bottom? What is yet to come?
Well all of these are great questions and you can find some wonderful answers at www.InvestSmarter.com where we are trying to keep the facts out there for everyone. Also the Destin Florida Condo market and Destin Florida Real Estate market can be tramps if you are not careful at investing..hence our new site www.real-estate-destin-florida.com where we help bring out a few points and encourage others to come together and talk about real estate matters like below:
Wave of Subprime Loans Ready to Reset First American CoreLogic reports that the number of subprime adjustable-rate loans resetting peaked at 7.61 percent of the loans outstanding in June, and more than 300,000 of the mortgages will adjust this summer. Data from the California research firm covers about 80 percent of the mortgage market. More home owners are facing an increase in the payment on their subprime adjustable-rate mortgages; and borrowers who are unable to refinance due to declining home prices could be pushed into foreclosure, which is already at a record level. "We may not see the impact in foreclosures until the middle of 2009," according to Mark Fleming, chief economist for CoreLogic. Source: Washington Post, Renae Merle (07/01/08)
So what does this mean? If you are a sideline buyer...you may not have to jump in right now. The key to any real estate deal is does it make sense???? If it doesn't, don't do it!!!
To many people look and buy out of gut feeling. Put pen to pad and see what makes the most sense for you and your family or your business. Take time to look online. We have established sites just for this...no worries, no houding, just simple searching to find what's available in today's market:
www.Destin-Florida-Condominiums.info
or
www.Destin-Florida-MLS.com
Both of these will help you find what you are looking for in the Destin Florida area when it comes to homes, condominiums, or commercial real estate.
Well all of these are great questions and you can find some wonderful answers at www.InvestSmarter.com where we are trying to keep the facts out there for everyone. Also the Destin Florida Condo market and Destin Florida Real Estate market can be tramps if you are not careful at investing..hence our new site www.real-estate-destin-florida.com where we help bring out a few points and encourage others to come together and talk about real estate matters like below:
Wave of Subprime Loans Ready to Reset First American CoreLogic reports that the number of subprime adjustable-rate loans resetting peaked at 7.61 percent of the loans outstanding in June, and more than 300,000 of the mortgages will adjust this summer. Data from the California research firm covers about 80 percent of the mortgage market. More home owners are facing an increase in the payment on their subprime adjustable-rate mortgages; and borrowers who are unable to refinance due to declining home prices could be pushed into foreclosure, which is already at a record level. "We may not see the impact in foreclosures until the middle of 2009," according to Mark Fleming, chief economist for CoreLogic. Source: Washington Post, Renae Merle (07/01/08)
So what does this mean? If you are a sideline buyer...you may not have to jump in right now. The key to any real estate deal is does it make sense???? If it doesn't, don't do it!!!
To many people look and buy out of gut feeling. Put pen to pad and see what makes the most sense for you and your family or your business. Take time to look online. We have established sites just for this...no worries, no houding, just simple searching to find what's available in today's market:
www.Destin-Florida-Condominiums.info
or
www.Destin-Florida-MLS.com
Both of these will help you find what you are looking for in the Destin Florida area when it comes to homes, condominiums, or commercial real estate.
Saturday, June 21, 2008
Lender Fraud Hits Home with a lot of People
Wow...what are we going to deal with now???? Yet another stumble in the real estate world looking at people with kickbacks trying to move property. We see it everywhere..prepaid interest, closing costs, association fees, guarantees on rental...you name it, it happens. But the question is what is legal? Take a few minutes to read the article below and you can see why more and more people are becoming a bit scared of the real estate business as a whole and why it's so important to know whom you are dealing with!!! Hence www.InvestSmarter.com to help make sure that everyone is on the same sheet of music and on the up and up!!!
Daily Real Estate News June 20, 2008
Hundreds Charged in Fraud Sweep
More than 400 people in the real estate industry have been indicted since March, including dozens in the last two days, in a U.S. Justice Department/Federal Bureau of Investigation crackdown on mortgage fraud.The FBI says the scams cost home owners and other borrowers more than $1 billion.Since March 1, 406 people have been arrested in the sting dubbed "Operation Malicious Mortgage," resulting from 144 cases across the country. Sixty people were arrested on Wednesday alone. Officials have identified 10 "mortgage fraud hotspots" nationwide in California, Colorado, Texas, Minnesota, Michigan, Illinois, Ohio, New York, Georgia, and Florida.Named in the cases were housing developers, mortgage lenders and brokers, lawyers, real estate practitioners and appraisers, says Sharon Ormsby, section chief in charge of financial crimes for the FBI.Source: The Associated press, Lara Jakes Jordan (06/19/08)
www.Destin-Florida-Condominiums.info is here to help you find the best value for your money and keep you pointed in the right direction without setting you up for situations like above!!!
Come visit the Destin Condo Market today and see what else is out there in reference to Destin Condos and the Florida Condominium market.
Daily Real Estate News June 20, 2008
Hundreds Charged in Fraud Sweep
More than 400 people in the real estate industry have been indicted since March, including dozens in the last two days, in a U.S. Justice Department/Federal Bureau of Investigation crackdown on mortgage fraud.The FBI says the scams cost home owners and other borrowers more than $1 billion.Since March 1, 406 people have been arrested in the sting dubbed "Operation Malicious Mortgage," resulting from 144 cases across the country. Sixty people were arrested on Wednesday alone. Officials have identified 10 "mortgage fraud hotspots" nationwide in California, Colorado, Texas, Minnesota, Michigan, Illinois, Ohio, New York, Georgia, and Florida.Named in the cases were housing developers, mortgage lenders and brokers, lawyers, real estate practitioners and appraisers, says Sharon Ormsby, section chief in charge of financial crimes for the FBI.Source: The Associated press, Lara Jakes Jordan (06/19/08)
www.Destin-Florida-Condominiums.info is here to help you find the best value for your money and keep you pointed in the right direction without setting you up for situations like above!!!
Come visit the Destin Condo Market today and see what else is out there in reference to Destin Condos and the Florida Condominium market.
Thursday, June 5, 2008
Destin Condo Launch
Welcome to Destin Condo and the Destin Condo Search. This site is dedicated to helping investors, primary residents, and second home/condo purchasers look in the right direction and assist in making the best possible decission. We have placed, online for your convenience, an online review of different Destin Condos and available properties in Destin Florida. There are a few things you must consider when purchasing a condo or a second home:
-Think green ... beyond the green. Bike trails and hiking paths are a big draw for second-home buyers – more attractive for many than golf courses.
-Look hard at the taxes. States like Florida that don’t have income taxes are socking it to part-time residents.
-Stick close to home. With gas prices high and getting higher, it makes sense to look at a second home that is an easy drive.
-Look beyond the obvious. Locales that are close by popular resort areas can have similar amenities at lower prices.
-Think regional. Parts of the country that are regional rather than national popular vacation spots can be charming bargains.
-Speculate with care. Parts of the country where prices have fallen can provide good deals, but remember short sales take time and buying a condo can backfire if the building is full of foreclosed units whose owners aren’t paying maintenance charges.
-Think green ... beyond the green. Bike trails and hiking paths are a big draw for second-home buyers – more attractive for many than golf courses.
-Look hard at the taxes. States like Florida that don’t have income taxes are socking it to part-time residents.
-Stick close to home. With gas prices high and getting higher, it makes sense to look at a second home that is an easy drive.
-Look beyond the obvious. Locales that are close by popular resort areas can have similar amenities at lower prices.
-Think regional. Parts of the country that are regional rather than national popular vacation spots can be charming bargains.
-Speculate with care. Parts of the country where prices have fallen can provide good deals, but remember short sales take time and buying a condo can backfire if the building is full of foreclosed units whose owners aren’t paying maintenance charges.
Take time to look at our sites online and look to see what is going on today in the Destin Condo market. Times are changing and make sure you are on top of those changes in the Destin Condo market!
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