Its economic prosperity had set the conditions for a real estate bubble in Florida

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Social networks and interactive Web 2.0 technologies have become dominant features of social life and news lately, and millions regularly spend hours each month on sites like Facebook, Twitter, and LinkedIn. One startup company with a selective vision for a real estate investor oriented social network decided to focus on the quality of members as opposed to quantity. The invitation-only community, ConnectedInvestors.com (www.ConnectedInvestors.com), was founded in 2005 by real estate investor, entrepreneur, and author Ross Hamilton. Hamilton says he started the real estate investor focused social network to help other investors create a community to support each other as well as to serve as an online way to track deal flow and utilize all of the best-of-breed available web marketing tools like automated customer list building, automatic customer follow up, and audi... (more)

How to Find the Right Vacation Property

Let's start by eliminating the "don't wanters," those aspects of a vacation property that you don't want, under any circumstances. First, you do not want to purchase a home where there are laws or restrictions prohibiting short-term or transient rentals. Check the local laws and neighborhood or complex rules. Condominium comolexes are notorious for having exclusive in-house rental management companies which would prohibit you from renting by owner — if your objective is to cash flow on your property, I would stay away from these types of properties. Some municipalities have very strict guidelines as to when you can and cannot rent, some do not allow rentals at all. Properties on government owned land, such as Army Corp of Engineers, or state and nationally protected lands often carry very strict rules also. This is where a licensed local real estate agent would most... (more)

Beautiful Weather This Weekend in South Florida and the Bahamas

We had beautiful weather this weekend in South Florida and the Bahamas. I spent all day Saturday and Sunday doing outdoor activities. I played 9 holes with my friend Roger Strukhoff before he left for Manila, Philippines. Roger and I visited the church on the island Sunday morning. There were only 12 neighbors on the entire island. I had fresh Wahoo for dinner Sunday night that my friend Tom and his wife caught that same day. I browsed through my in-box in the afternoon and replied to a few emails, including one from my friend Kevin, who forwarded me a quote from Yahoo finance forums. I thought I should share my response to Kevin here on my blog. Roger and I visited the church on the island Sunday morning. There were only 12 neighbors on the entire island. I had fresh Wahoo for dinner Sunday night that my friend Tom and his wife caught that same day. I browsed th... (more)

Housing Bargains Under $100K in Naples, Florida

Welcome to Naples, Florida.  World renowned for the high-class lifestyle, a winter retreat for celebrities and fortune 500 CEO’s.  Naples has some of the most exclusive addresses in the country.  Where extraordinary mansions set along a beach which was once voted by the travel channel as America’s best all-round beach.  Where the county for which Naples is located is rated as the highest income per-capita in Florida and the 20th highest in the country. You may wonder how on earth you could even vacation here, let along be a year-round resident. Can you live in paradise for far less than the average home sold in the United States? The answer is, yes. The real estate bubble did hit here and it hit hard, many greedy investors and speculators looking to get rich over night, jumped in too late and too high.  Now though, prices are down to as low as 2001 values.  How abou... (more)

The Faster Way to Better Living: Dream Properties at the Click of a Button on Your Mobile Phone

Axel Springer‘s real estate portal Immonet.de now enables property searches on a mobile phone, iPhone, Blackberry and on other smartphones. More than 950,000 houses, apartments and other properties can easily be found each month on mobil.immonet.de with the help of Netbiscuits, the leading software platform for the development, operation and marketing of mobile internet pages. This collaboration has enabled Germany’s cross-media real estate portal Immonet.de to present a media-compatible property search for more than 5,000 mobile devices. A special iPhone version of Immonet.de Mobil is available at iphone.immonet.de. Just enter a town or postcode and other optional criteria such as property price or size of the property to begin the search in two simple steps. The menu is straight-forward and enables the user to quickly narrow down, classify and flick through searc... (more)

Dealing With Balistreri Realty in Lighthouse Point, Florida Has Been A Nightmare

South Florida Real Estate Journal When we decided to sell our home last December we made the mistake of picking a realtor closest to our home, rather than doing a comprehensive research, interviews, and reference checks. I thought if a buyer wants to see the house, they could just come and show it very conveniently. We learned the hard way that there is more to listing a house for sale than just picking a realtor out of a hat. The second mistake we made was signing a listing contract with the realtor without an attorney review. The realtor I am talking about is Balistreri Realty in Lighthouse Point, Florida, and a nightmare we have been living in since we signed an agreement with this firm on December 19, 2008. We provided 30 photos of our home to Balistreri Realty to be used in online listings of the property. Two months into the listing, I discovered all photos but ... (more)

Luxurious Beachfront Property in the Dominican Republic

With recent concerns of the global economic climate and security of real estate properties worldwide, the Developer of Las Arenas, a 25-story residential oceanfront real estate development, is proud to announce an appealing offer to buyers with its exclusive selection of Founders Packages. Created for an elite clientele seeking an unparallel property and secure investment opportunity, the Founders Packages at Las Arenas present a 30 month, no-risk commitment to own in one of the most luxurious developments in the Dominican Republic. The process to becoming an owner at Las Arenas is completely transparent, simple and with no-risk to the buyer. Featuring three different options, the Founder Packages all encompass the same conditions to purchase with a reliable guarantee for the transaction. The Packages, which include Diamond, Platinum and Gold, require a $10,000 depo... (more)

Marco Island Home Sales Increase 30% over 2008 Sales

According the Marco Island Area Association of Realtors (MIAAOR), Home sales last month on Marco Island are up 16% from last month and up 30% from August '08. The average sale price is also up 40% from last year to $786K. Condominiums sales are slowed from last month, down 35%. More dramatically though, the average sale price is down 55% to $308K from last August. The least expensive single family home on Marco Island is $179K and the most expensive is 1572 Shores Ct for $9.9M. The least expensive condo is $69K and the most expensive is the Madeira beachfront penthouse for $7.45M There are 59 single family homes in foreclosure on Marco Island. 8.2% of all homes on the market. Of the 203 homes that have sold on Marco Island so far this year, 50 (24%) have been foreclosures and a further 84 homes are currently pending (Under contract) of which 51 (60%) are foreclosures.... (more)

Chase CEO Dimon on CNBC Kinda Implies That He Has Been a Great CEO

Chase CEO Dimon said on Wednesday during his talk which was brodacst live on CNBC that there is no silver bullett to save the housing mess. He says Obama's home loan modification program is appropriate and proper. He says only if everybody works together we can get out of this mess. Press says he is th emost honest and smart bank CEO in this disaster. ... (more)

iBidcondo Offers "Deal Of A Lifetieme" With The Beat Condos in Dallas

After their groundbreaking live, online auction in Austin, iBidcondo is pleased to announce the latest addition to its Auction list: The Beat Condos at South Side in downtown Dallas, Texas.  The premiere iBidcondo Auction, where a winning bid of $87,000 was placed for a $690,000 Star Riverside Unit in Austin, was the first in a series of upcoming "recession buster" auctions.  Continuing to provide only the highest quality properties at remarkable prices, iBidcondo moves forward with the first auction of The Beat Condos set for Monday, July 27th, 2009. "The Beat Condos match perfectly with our iBidcondo audience. Our previous iBidcondo Auction leads me to believe that this is going to present another fantastic buying opportunity for iBidcondo's market" states Eugene Marchese, founder of iBidcondo. Developed by Matthews Southwest and CORGAN, The Beat Condos are exactly ... (more)

Low-Maintenance Vacation Rental Property

I know that sounds incredibly simple, but you might be surprised at how easy it can be to overlook things that should be obvious. After all, this is probably something you've never done before, and nothing is ever simple until you have some experience with it. The best way to find out the condition of a house is by employing a home inspector. It's always money well spent. Of particular interest in the home inspector's report will be the condition of the roof, electrical wiring, heating system, and the plumbing. These are all non-cosmetic items that often are not readily apparent to the naked eye. But they are some of the major areas of a house that tend to erode with time, and repairing them can be expensive and time consuming. Buy a home without these problems to begin with, and you will save yourself many days of headaches in the years ahead. Here's another consid... (more)