| In this issue: |
• Loan Rejection Causes
• Buying Commercial R.E.
• Metro Home Prices
• Become a BBB Agent
• Buyer Workshop
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| Interest Rate Watch |
Selected Rates as of
August 18, 2005:
• 30 yr fixed: 5.80%
• 15 yr. fixed: 5.40%
• 1 yr. adj: 4.58%
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| Free Buyer Workshop! |
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Every Thursday
Get a guided tour through the real estate buying process, learn about new and historic neighborhoods in Jacksonville, Daytona, and other Floriday cities, plus have financing questions answered by industry professionals.
Call:
904-358-3955 for Jacksonville information
877-693-4068 for
Daytona information
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| About the Weekly: |
The Real Estate Weekly is a free weekly bulletin published to keep clients and associates informed of happenings in the real estate market. If you would like to unsubscribe from the Weekly, please use the button at the bottom of the page.
The R.E.W. is published by:
Bo Bridgeport Brokers, Inc.
Located at:
1654 N Pearl Street
Jacksonville, FL 32206
Phone: 904.358.3955
and
127 Arlington Way
Ormond Beach, FL 32176
Phone: 877.693.4068 |
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| » Beachfront Homes and Public Access |
In much of this country, the shoreline has a growing amount of privately owned beaches. And let's face it, waterfront seating is always the most expensive. Maybe we gravitate towards water because we are all made of it.
The amount of usable beachfront property is limited and for this reason it is not uncommon for beachfront property to rise in price disproportionately to inland property.
As the quest to privatize our beaches continues, there becomes a growing gap between those who are rich and can't afford oceanfront property, and everyone else who wants access to the ocean but with increasing frequency is being locked out.
For this reason, the New Jersey Supreme Court decision in the Raleigh Avenue Beach Association case is very important. At issue in this case was the right of a private beach owner to charge $700 for a season beach pass. People who live in the area generally own their homes as retirement homes or as vacation homes.
In any case, everyone moved to the community to enjoy the ocean. For many years, access to the private beach was free. When it climbed to $200 people did not complain. But when it rose to $700, a lawyer (candidly, this lawyer) was hired and the fight began.
Read the rest of this article HERE.
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» Top 10 Reasons Loan Applications Are Rejected |
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As interest rates rise and rising housing costs swells lenders' portfolios with riskier loans, lenders will tighten underwriting rules making it tougher to buy a home.
Still -- in hot markets and in cool ones -- the fundamentals apply.
Getting a loan application approved is often knowing how to keep lenders from saying "no." To that end, here are the Top 10 reasons loan applications wind up the circular file. There are more, but these top the list.
• Being in denial about what you can really afford. Apply for too much and you could be out the door faster than you went in. Let the lender decide what you can afford to borrow. From that, you decide what your budget will realistically let you afford to pay each month Get preapproved with a bona fide, carved-in-stone preapproval that guarantees in writing a loan amount, interest rate and as much of the other loan terms as possible.
"It makes your offer more attractive to sellers," said Jeff Lyons, general manager of RealEstate.com a Charlotte, NC-based subsidiary of LendingTree, LLC.
Read the rest of this article HERE.
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» Buying Commercial Real Estate -- A Secure Investment? |
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Buying commercial real estate can be a secure and profitable investment if you take the time to research, get advice from experts and know your risks and benefits.
"There are four main reasons to buy investment real estate: cash flow, appreciation, depreciation and principal pay-down," says Mike McCaffery, Investment Property Consultant, GFS Commercial, a division of the Guiltinan Group Real Estate Specialists.
Owning commercial real estate can be a great way to diversify your portfolio, create tax benefits and build wealth. However, buying commercial real estate can be a risky business, especially these days when many people are getting into real estate without completely understanding the industry.
"There are different kinds of investors. There are some people who are very wealthy and they'll buy trophy properties for example and the returns are very minimal, but they hold them because they want to have a long-term hold. A lot of other investors want the cash flow so they're going to go to other areas that have a higher cash flow or higher return but it's not going to be in the best areas," says Investment Property Consultant Eric Warfield with GFS Commercial.
Use industry experts
Whether you're at the beginning stages of looking for commercial properties or you've closed escrow and already have your tenants in the property, it's a good idea to get advice and seek the help of industry experts such as commercial agents and property management firms, to guide you through the process.
Read the rest of this article HERE. | |
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Want a Career in Real Estate? Then WE want YOU!
Bo Bridgeport Brokers is looking for motivated, ambitious people to join our growing team. Join our team and receive comprehensive training from successful agents while working in a positive workplace. Becoming a real estate professional is easier than you think!
Click Here for more information or call 904-358-3955. | | |