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Category: Condotel Financing Florida

At Fidelity Home Group, we are condotel mortgage experts in Florida! The Condotel also known as the Condo Hotel is quickly becoming popular in Florida as an investment opportunity. Various Condotel Projects are popping up in South Beach, Panama City, Palm Beach and Miami.

Is the Number of Homes for Sale Finally Growing?

An important metric in today’s residential real estate market is the number of homes available for sale. The shortage of available housing inventory is the major reason for the double-digit price appreciation we’ve seen in each of the last two years. It’s the reason many would-be purchasers are frustrated with the bidding wars over the homes that are available. However, signs of relief are finally appearing. According to data from realtor.com, active listings have increased over the last four months. They define active listings as: “The active listing count tracks the number of for sale properties...

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5 Tips for Making Your Best Offer

In today’s sellers’ market, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer demand. If you’re buying this fall, you’ll want every advantage, especially when you’ve found the home of your dreams. Below are five things to keep in mind when it’s time to make an offer. 1. Know Your Budget Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it: “This...

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The association suddenly needs a lot of money. How do you get it? Which way makes sense? (FL)

So many of our buildings are approaching the 40 year mark, requiring recertification in electrical and structural. Many buildings are younger yet still need major repairs to the concrete, balconies, pool decks and other portions of the common elements. The board is going to need a lot of money. Assuming you don’t have enough in reserves, how do you get it?    Read the entire article………………………………. #floridacondotelmortgage #floridacondotelfinancing #floridacondotel

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The Truth About Today’s Buyer Demand

When it comes to the latest news in real estate, there are a lot of sensational headlines in the media. In times like this, when it can be hard to know what to believe, put your trust in the experts. Those of us in the housing market respect that buying or selling a home is a major life decision, and we offer advice based on what the data shows. Despite what you may have read, the housing market is still undeniably strong. Here’s a look at what leading experts have to say about buyer demand today and how it continues to shape the industry: Michael Lane, President at ShowingTime: “In general,...

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A Key West condo building at risk of being condemned faces a $10 million repair bill (FL)

Key West’s chief building official on Monday said he will not condemn a troubled 111-unit condominium building, but he ordered the condo association to stick to a timeline for repairs.   Read the entire article………………………………. Community Associations    

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Empire License says Get Ready for New Character for Advertising, TV and Toys: Black Friday

MIAMI, Fla. /FLORIDA NEWSWIRE/ — The day after the American Thanksgiving Day holiday has long been considered the biggest shopping day of the year in the United States. Dubbed “Black Friday” for many reasons, shopping on that day (via brick and mortar or e-commerce) has become part of the holiday tradition for most consumers. Empire License, Inc. is now very excited to introduce to the world their very own version of Black Friday: “Black Friday” the character, in the formation of animation and plush dolls. As the preferences and habits of consumers change and evolve,...

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Pesticides and Your Community (FL)

There is a lot to consider when choosing a pest control company or even keeping a pest control company. The vendor needs to accommodate the needs and ensure the health and safety of all parties, whether they are elderly, children, individuals with certain respiratory or immune disorders, allergies, etc. If you allow pets in your community, even that must be taken into consideration. It’s important for you to ensure that you have a licensed and properly insured company to handle your pest control.   Read the entire article………………………………....

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Why It’s Still Safe To Sell Your Home

If you’re on the fence about whether or not you want to sell your house this year, there’s good news. Real estate professionals are highly experienced in how to sell houses safely during the pandemic. Over the last year, agents have adopted new technologies and safety measures designed to keep you safe. And experts say these practices are here to stay. As Bob Goldberg, CEO of the National Association of Realtors (NAR), puts it: “The pandemic has confirmed to all of us in the industry that technology will continue to transform real estate.” Below is a closer look at some of the new tools real...

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Condo questions: How do I request my records from association’s board? (FL)

Q: I want to submit an official records request to my condo association. Along with the records, I also want the board to answer a few questions I have about certain expenses from this past year which is also the subject of the records request.  Can you explain how I can do this and what is the association required to do?     Read the Q&A……………………………. Community Associations    

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Rates posted assumes 25% down payment, and an ARM rate first mortgage on a Florida condotel, primary residence. Additional required amounts such as taxes, insurance, home owner association dues, assessments, flood insurance or other such required payments should also be considered. Not all individuals will qualify for a mortgage loan. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. **Posted APR is based on Mortgage Assumptions
 
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