10 Top Foreclosure Markets in USA  Daily Real Estate News | April 24, 2007 Foreclosure continues to be a serious concern for many U.S. home owners. Indeed, according to a recent survey from Yahoo Real Estate and Harris Interactive, 22 percent of home owners are at least somewhat concerned about the possibility of foreclosure due to their inability to meet monthly mortgage payments. But Americans remain bullish on real estate. In fact, 37 percent of all U.S. adults would be at least somewhat interested in buying a house in foreclosure. Here is a list of the 10 metro area markets where mortgage delinquency rates increased the most between the fourth quarter of 2005 and the first quarter of 2007, according to Equifax and Moody's Economy.com. The following list also includes the percentage increase in foreclosures for each area during that time period. 1 Modesto, Calif.: 3.9 percent
2 Stockton, Calif.: 3 percent
3 Merced, Calif.: 2.8 percent
4 Port St. Lucie-Fort Pierce, Fla.: 2.7 percent
5 Miami-Miami Beach-Kendall, Fla. Metropolitan
Division: 2.5 percent
6 Riverside-San Bernardino-Ontario, Calif.: 2.5 percent
7 Vallejo-Fairfield, Calif.: 2.4 percent
8 Las Vegas-Paradise, Nev.: 2.3 percent
9 Atlantic City, N.J.: 2.2 percent
10 Cape Coral-Fort Myers, Fla.: 2.2 percent
Source: Dow Jones Business News, Ruth Mantell (04/23/07)
So much for the Real Estate Bubble.. My 2 Cents.. humble thoughts of a true Real Estate frontliner: I am perplexed to see the media hysteria about the current state of the Real Estate market.. ask around.. they are all experts.. local newspapers, TV news, bloggers, etc., reminds me of not too long ago, when my shoe repairman was giving me a lesson about how to become rich in real estate. That was the 2nd quarter of 2005, when I was already feeling certain indicators that the market was slowing down. What was the media hype then? Real Estate is GOOD !! BUY- BUY -BUY  | | | We Wish You Could Be Here ! | |
Property taxes may be on ballot By Scott Wyman
South Florida Sun-Sentinel
Posted August 13 2006 In an effort to force the Legislature to overhaul the state property tax system, voters in Broward County could be asked this fall if they support allowing homeowners to take their homestead tax protection with them when they move. The County Commission will consider Tuesday whether to place the nonbinding question on the Nov. 7 ballot. Commissioner Jim Scott is pitching the idea in hopes that an overwhelming response encourages legislators to ease restrictions in the tax protection rules that make it difficult for young couples to buy a larger home as their family grows or for seniors to downsize.
The state constitution caps how much the taxable value of an owner-occupied home can increase each year, but government tax rates apply to a home's full value when someone buys a new place. Years of escalating real estate prices mean tax bills can jump dramatically when people move. "It's just so hard to get government to act on something, and these type of straw ballots can spur action," Scott said. The Legislature considered adding a portability feature to the state constitution's Save Our Homes tax provision, but took no action during its spring session after cities and counties voiced concern that they could lose billions in tax dollars. The real estate industry and local business executives have been pressing for action, arguing that higher taxes and insurance rates are creating an untenable situation. Broward and its cities reaped a tax windfall of $890 million between 2001 and 2005 because of the higher real estate prices. Numerous versions of homestead portability have been discussed, but Scott wants to specifically ask voters if they favor allowing homeowners to apply the difference between the appraised value and the tax value on their current home to a new home purchased within Broward County. Scott's move comes at a time when he is facing an election challenge. But Scott said he has long been concerned about the growth in tax revenue. Property Appraiser Lori Parrish, said she sees the straw ballot as helpful in fighting the Legislature next year. "People have been wanting their chance to speak out," Parrish said. About the Ft. Lauderdale, Broward County, Wilton Manors and Pompano Beach and Plantation Real Estate Market
Wednesday, August 02, 2006 South Florida home sales, prices fall but consumer confidence, and jobs will stabilize market. Fort Lauderdale, Fla., the seat of Broward County.
South Florida's Broward County residential real estate sales fell 25 percent in July as record inventory cut into single-family home prices, according to statistics provided by the Realtor Association of Greater Fort Lauderdale. Single-family homes sales totaled 778 in July, down from 1,038 a year ago. The total number of single family and condominium-townhouse residences on the market in July rose to 23,589, up 3.4 percent from 22,821 in June and up nearly 344 percent from 6,033 in July 2005. The huge increase in inventory has been a major factor in the region's sales slowdown and now has sent home prices lower, according to statistics. July's single-family median price of $375,000 was down $5,000 from June and reflected a 3 percent drop from $384,900 one year ago, the association reported. For condominium-townhouse units, the median price of $211,000 was down 1 percent from $212,500 in June but up from the year-ago price of $200,000. However, the association said improving consumer confidence and a brighter job market outlook could indicate the economy is stabilizing. "When consumer confidence and the employment outlook are high, the real estate market tends to follow," said Dori Longhini, president of the Realtor Association of Greater Fort Lauderdale, in a statement. "The shift in sales prices may suggest that sellers are taking a more realistic view of the market and that could help kick-start a turnaround." The Realtor Association of Greater Fort Lauderdale Inc. is one of the largest Realtor associations in Florida, representing more than 12,000 real estate agents in Broward County. *** Copyright 2006 Inman News
 Timeshare ownership is a popular vacation home investment currently held by over three million American households. A timeshare is joint ownership in a vacation resort property that gives you an exclusive right to occupy a condo unit for a specified interval each year. What might you need to know about timeshare ownership if you are considering making such an investment?
There are two ways to approach timeshare. One is to buy a right-to-use membership that allows you to stay in a particular condo for an annual block of time for a number of years. You can also choose to trade your right-to-use time with someone else, perhaps someone who owns timeshare in a different location you yearn to visit. Simple-fee ownership is more like conventional homeownership -- you purchase a slice of the property and receive title by means of a deed. The property is legally yours. You can obtain insurance on the time-share property, sell or lease it, or have it transferred by will. Deeded timeshares can be also willed to family members.
Minimize the stress of booking yearly accommodations by purchasing ownership in a timeshare resort in one of 81 different countries.
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| Q |
What is a "jumbo mortgage"?
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| A |
The term "jumbo mortgage" currently refers to a mortgage loan in excess of $359,650, although the threshold amount may change as the market fluctuates. |
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