BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Warning for condo owners: A neighbor's financial problem could be yours]]>http://www.bloggingstocks.com/2008/05/15/bad-news-for-condo-owners-a-neighbors-financial-problem-could/http://www.bloggingstocks.com/2008/05/15/bad-news-for-condo-owners-a-neighbors-financial-problem-could/http://www.bloggingstocks.com/2008/05/15/bad-news-for-condo-owners-a-neighbors-financial-problem-could/#commentsFiled under: , ,

The U.S. housing slump is creating another negative ripple effect, this one by extension, or by association, if you will, as in condo/co-op association.

Owners in condo associations are having to chip-in to pay for unexpected association maintenance, tax, and related fees when other residents enter foreclosure or are substantially behind in payments, The New York Times reported Thursday.

The Times cited the case of condo owners in a 43-story Miami, Florida condo having to ante up more money after 1 in 6 residents battled foreclosure. The additional charge: an additional $1,000 assessment and $50 more a month for cable and internet fees, on top of the regular $450 monthly maintenance.

Connecticut-based appraiser Lawrence Schmidt, not a realtor but a former 15-year condominium owner with extensive knowledge of the sector, told BloggingStocks Thursday prospective buyers need to fully-research a condo association's membership status, including record of tax payments of individual members, in addition to the standard evaluation of the condo association's maintenance fees, contractor services, and quality-of-life issues, etc. Co-op buyers must do even more research on the co-op's balance sheet, monthly budget, cash flow, outstanding mortgage, and other related financials, he said.

Continue reading Warning for condo owners: A neighbor's financial problem could be yours

Warning for condo owners: A neighbor's financial problem could be yours originally appeared on BloggingStocks on Thu, 15 May 2008 14:12:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>co-opscondominiumscondoscooperativesfeesforeclosureshousinghousing bubbleHousingBubblereal estatetaxesThu, 15 May 2008 14:12:00 EST<![CDATA[Refinance applications again rise from previous week on lower rates]]>http://www.bloggingstocks.com/2008/01/23/refinance-applications-again-rise-from-previous-week-on-lower-ra/http://www.bloggingstocks.com/2008/01/23/refinance-applications-again-rise-from-previous-week-on-lower-ra/http://www.bloggingstocks.com/2008/01/23/refinance-applications-again-rise-from-previous-week-on-lower-ra/#commentsFiled under: , ,

Mortgage applications increased a seasonally-adjusted 8.3% compared to the prior week on continued, lower interest rates, the Mortgage Bankers Association announced Wednesday in a statement.

Furthermore, the association said refinance applications rose 16.9% during the week ended January 18, 2008 compared to the previous week, and are up 92% since November 2007. Purchase applications are up 7% during the same period. Also, the 4-week moving average for all loan applications increased 13.7% compared with the same period a year ago.

The average interest rate for the 15-year fixed-rate mortgage was 4.96%, down from 5.07%. The 30-year fixed-rate mortgage was 5.49%, down from 5.62%. The rate for a one-year ARM was 5.51%, down from 5.77%.

Continue reading Refinance applications again rise from previous week on lower rates

Refinance applications again rise from previous week on lower rates originally appeared on BloggingStocks on Wed, 23 Jan 2008 13:22:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>condosfeaturedhouseshousinghousing sectormortgage applicationsMortgage Bankers Associationmortgage ratesmortgagesrefinanceWed, 23 Jan 2008 13:22:00 EST<![CDATA[Miami condo prices down 50%?]]>http://www.bloggingstocks.com/2007/09/26/miami-condo-prices-down-50/http://www.bloggingstocks.com/2007/09/26/miami-condo-prices-down-50/http://www.bloggingstocks.com/2007/09/26/miami-condo-prices-down-50/#commentsFiled under:

I have to say, I had no idea Miami condo prices were down this badly. According to a CBS report that someone was kind enough to post on YouTube, new condos sold at a recent auction for 50% their original list prices -- as little as $150,000 for a loft.

One bedroom/one bath condos went for an average of $176 thousand at the auction, down from the last year's price of $350. Two bedroom condos originally priced at $600 could be had for an average of $295.

In a recent episode of the 'The Millionaire Inside' on CNBC, real estate expert (and author of the amazing book The Automatic Millionaire) speculated that some people would get very rich buying real estate in the current market. But more than a few developers have become very poor by getting into the last bubble too late.

Miami condo prices down 50%? originally appeared on BloggingStocks on Wed, 26 Sep 2007 18:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>CondoshousingMiamiWed, 26 Sep 2007 18:00:00 EST