Tag Archives: sales

Federal – Landslide vote in House bodes well for easing limits in condo sales

Landslide vote in House bodes well for easing limits on condo sales

Everybody knows that congressional Democrats and Republicans can barely agree on anything. Yet in a rare and fleeting moment of unanimity in the House of Representatives, they recently approved legislation that could expand purchase prospects for thousands of people looking to buy their first home.

“Bottom line: The bill is great news for first-time and moderate-income buyers, but don’t expect changes overnight. It still must pass the Senate and get the president’s signature, but a 427-0 bipartisan vote in the House bodes well for both.”

New Jersey – Jersey Shore buyers with FHA-backed loans find fewer communities where they can buy

Jersey Shore buyers with FHA-backed loans find fewer communities where they can buyA growing number of condominium and residential communities in central New Jersey are skipping an important government certification that would expand the pool of buyers, real estate experts and consumer advocates say. Either unable or unwilling to apply for certification with the Federal Housing Administration, these communities can’t accept buyers with FHA-insured mortgages.

Embedly Powered

via App

Michigan – Realtor misled buyers of contaminated Lake Michigan condo, court says

Realtor misled buyers of contaminated Lake Michigan condo, court saysA couple who bought a South Haven condo built on contaminated land two blocks from Lake Michigan is entitled to about $470,000 in damages, according to the Court of Appeals. The site of the house was formerly a factory that made coffins, gun stocks and pipe organs – and left behind chemicals.

Embedly Powered

Minnesota – Lots of demand, not enough building

Condo conundrum: Lots of demand, not enough buildingIf only condo construction in the Twin Cities were as brisk as the demand. While swells of baby boomers and young professionals are hankering for the ease and amenities of condominium living, the number of units for sale is strikingly low, with only three condo buildings under construction across the metro.

Embedly Powered

National – NAR: ‘Burdensome’ FHA Rules Make It Difficult To Buy, Sell Condos

MortgageOrb: NAR: ‘Burdensome’ FHA Rules Make It Difficult To Buy, Sell CondosWhile the Federal Housing Administration (FHA) has loosened its condominium approval requirements in recent years, many properties continue to struggle to meet overly stringent criteria, and the majority of properties are being denied, according to a panel at the “How Do FHA Condominium Rules Impact Your Business?”

Embedly Powered

Florida – A Condo Was Sold, Until It Wasn’t

A Florida Condo Sale and a Market’s Dysfunction – Fair GameChaos and conflict rein over many mortgage workouts. Until that changes, housing will struggle. The case at hand – and it’s a whopper – involves a short sale on a condominium in Deltona, Fla. Short sales are transactions in which a bank and a borrower agree to sell a property for less than the amount owed on the mortgage.

Embedly Powered