For the past 5 to 8 years, when an investor wants to finance a condo with low rate conventional financing, the condominium project was required to pass a rigorous FULL PROJECT REVIEW, or buy with cash. The greatest hurdle to passing the full review is that the project must have 10% of annual HOA Fee revenue in a reserve account on both the current year and proposed budget. Though the financials of South Florida condos are significantly stronger today, many still do not to meet this requirements, and fail the full project review. This means condo investors have largely been excluded from low interest rate conventional financing for almost a decade.
During this same period, those purchasing or refinancing a condo unit as an owner occupant (primary
There will always be Luxury Condos for sale in the Pompano Beach area, but now there seems to be an overage of Million Dollar condos for sale in Pompano Beach, Lauderdale by the Sea, Hillsboro beach and the Fort Lauderdale Beach areas.
Take Pompano Beach Luxury Condos for sale for example.
In the new Sabbia Beach condo, located at 730 N Ocean Blvd, Pompano Beach, FL there are several condos listed for sale. You can view them: Sabbia Beach Condos (View HERE) Sabbia Beach Club condos are first class luxury at affordable prices, and they are close to everything that Pompano Beach has to offer. The construction is scheduled to be completed soon, and some of the condos for sale are actually re-sales from buyers that have
If you own or are buying a condo in the Parliament Condo in Pompano Beach, Fl, there was recent changes in the rental Rules & Regulations that you will want to pay attention to.
This was an email that was recently sent out:
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To All Realtors:
Parliament House has amended their condo docs effective May 25th, 2018.
Below are significant changes that you will need to know for conducting real estate transactions in our building:
1) No unit owner may lease his or her unit during the first 36 months of ownership.
2) All leases must be for a minimum term of 6 months and a maximum of 12 months.
3) The…
The Tax Cuts and Jobs Act - What it Means for Homeowners and Real Estate Professionals
This is a reprint, thank you NAR.
The National Association of REALTORS® (NAR) worked throughout the tax reform process to preserve the existing tax benefits of homeownership and real estate investment, as well to ensure as many real estate professionals as possible would benefit from proposed tax cuts. Many of the changes reflected in the final bill were the result of the engagement of NAR and its members, not only in the last three months, but over several years.
Introduction
Major Provisions Affecting Current and Prospective Homeowners
