Archive for 'Florida'

Florida Housing Prices Report

Florida’s housing market wrapped up 2014 with more closed sales, more new listings and higher median prices compared to the year before, according to the latest housing data released by Florida Realtors®.

“In December and throughout 2014, we’ve seen positive signs that Florida’s housing sector is on a steady, sustainable path,” said 2015 Florida Realtors President Andrew Barbar, a broker with Keller Williams Realty Services in Boca Raton. “Sales are moving at a steady, moderate pace and home prices are stabilizing. Florida’s economy continues to grow, more jobs are being created and mortgage interest rates remain at historically low levels, which will help drive the state’s housing market forward in 2015.”

December 2014
Statewide closed sales of existing single-family homes totaled 22,414 in December, up 15.8 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. Closed sales typically occur 30 to 90 days after sales contracts are written.

New listings of single-family homes for sale last month reached 24,840, up 2.9 percent year-to-year. Meanwhile, the statewide median sales price for existing single-family homes in December was $185,000, up 6.9 percent from the previous year. December marked the 37th month in a row that statewide median sales prices for both single-family homes and townhome-condo properties rose year-over-year.

According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in November 2014 was $206,200, up 5.6 percent from the same month a year ago. In California, the statewide median sales price for single-family existing homes in November was $445,280; in Massachusetts, it was $330,000; in Maryland, it was $250,424; and in New York, it was $227,500. The median is the midpoint; half the homes sold for more, half for less.

Looking at Florida’s year-to-year comparison for sales of townhouse-condos, a total of 9,466 units sold statewide last month, up 11.3 percent compared to December 2013. Meanwhile, new listings of townhome-condos reached 12,438 last month, up 3.4 percent year-to-year. The statewide median for townhouse-condo properties was $149,000, up 8.4 percent over the previous year. NAR reported that the national median existing condo price in November 2014 was $199,000.

“The December numbers are strongly positive for both the single-family and condo markets,” said Florida Realtors Chief Economist Dr. John Tuccillo. “We are seeing the steady and sustainable growth that has characterized the market the entire year continuing as the year ends. Of particular note is the inventory levels in the balanced market range: We’re keeping a close eye on the lack of inventory in the lower price ranges, but by and large, the market is in very good shape.”

Year-end 2014
Statewide closed sales of existing single-family homes totaled 244,543 in 2014, up 8.1 percent compared to the 2013 figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations.

New listings for existing single-family homes rose 7.4 percent in 2014 compared to 2013. The statewide median sales price for single-family existing homes in 2014 was $178,000, up 5.3 percent from the previous year.

Looking at Florida’s year-to-year comparison for sales of townhouse-condos, a total of 108,354 units sold statewide in 2014, down slightly (-1.2 percent) from 2013. The closed sales data reflected fewer short sales in 2014 compared to the previous year: Short sales for condo-townhouse properties declined 58.2 percent while short sales for single-family homes dropped 50.7 percent.

New listings for townhouse-condos for the year increased 2.2 percent compared to a year ago. The statewide median for townhouse-condo properties in 2014 was $140,000, up 9.8 percent over the previous year.

At the end of 2014 and also for December 2014, inventory for single-family homes stood at a 5.2-months’ supply, while inventory for townhouse-condo properties was at a 5.9-months’ supply, according to Florida Realtors.

Florida Realtors Chief Economist Dr. John Tuccillo said, “We close the books on 2014 on a very positive note. The year marks the transition of the Florida real estate market from a rapid recovery to a path of steady growth. Virtually all the metrics for the market are moving in the right direction at levels that can be sustained.”

The interest rate for a 30-year fixed-rate mortgage averaged 4.17 percent for 2014, up from the previous year’s average of 3.98 percent, according to Freddie Mac.

To see the full statewide housing activity reports, go to Florida Realtors Media Center at http://media.floridarealtors.org/ and look under Latest Releases, or download the December 2014 and the Year End 2014 data report PDFs under Market Data at: http://media.floridarealtors.org/market-data

Florida Realtors®, formerly known as the Florida Association of Realtors®, serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 140,000 members in 58 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org.

SOURCE Florida Realtors

CONTACT: Marla Martin, Media Relations and Communications Manager, orJeff Zipper, Vice President of Communications; 407/438-1400, ext. 2326 or 2314

Florida Real Estate Prices Heading North

Pending sales, closed sales and median prices rose, while the inventory of homes and condos for sale dropped in Florida’s housing market in October, according to the latest housing data released by Florida Realtors®.

“With Thanksgiving just around the corner, we have a lot to be thankful for here in Florida,” said 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “The state’s latest unemployment rate fell to 8.5 percent, the lowest in nearly four years – and combined with the momentum of the housing market, it clearly shows that Florida is on a positive path and has been for months. Pending sales, closed sales and prices are trending up.”

Statewide closed sales of existing single-family homes totaled 17,779 in October, up 25.3 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing. Closed sales typically occur 30 to 90 days after sales contracts are written.

Meanwhile, pending sales – contracts that are signed by not yet completed or closed – of existing single-family homes last month rose 56.7 percent over the previous October. The statewide median sales price for single-family existing homes in October was $145,000, up 9 percent from a year ago.

According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in September 2012 was $184,300, up 11.4 percent from the previous year. In California, the statewide median sales price for single-family existing homes in September was $345,000; in Massachusetts, it was $294,900; in Maryland, it was $244,357; and in New York, it was $225,000.

The median is the midpoint; half the homes sold for more, half for less. Housing industry analysts note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes.

Looking at Florida’s year-to-year comparison for sales of townhomes-condos, a total of 8,252 units sold statewide last month, up 16.4 percent compared to October 2011. Meanwhile, pending sales for townhome-condos in October increased 47.1 percent compared to the year-ago figure. The statewide median for townhome-condo properties was $107,000, up 20.2 percent over the previous year. NAR reported that the national median existing condo price in September 2012 was $181,000.

The inventory for single-family homes stood at a 5.2-months’ supply in October; inventory for townhome-condo properties was also at a 5.2-months’ supply, according to Florida Realtors. Industry analysts note that a 5.5-months’ supply symbolically represents a market balanced between buyers and sellers.

“Once again, everything that should be going up in the market is going up, and everything that should be going down is going down,” said Florida Realtors Chief Economist Dr. John Tuccillo. “As impressive as the year-over-year gains for October are, far more impressive are year-to-date gains of 2012 over 2011. They indicate the depth and resilience of this recovery.”

The interest rate for a 30-year fixed-rate mortgage averaged 3.38 percent in October 2012, down from the 4.07 percent averaged during the same month a year earlier, according to Freddie Mac.

To see the full statewide housing activity report, go to Florida Realtors Media Center at http://media.floridarealtors.org/ and look under Latest Releases, or download the October 2012 data report PDF under Market Data at: http://media.floridarealtors.org/market-data

Editor’s Note : Florida Realtors 2012 housing market data releases mark a new statewide data reporting partnership between Florida Realtors Industry Data and Analysis department and new vendor partner 10K Research and Marketing. Housing sales data from the state’s local Realtor organizations is collected and organized with the goal of providing unique, localized market reports to the local Realtor boards and associations within Florida Realtors, enabling the groups and their Realtor members to serve as the definitive voice of real estate in their respective local markets. At the same time, Florida Realtors is providing comprehensive statewide housing market statistics – but this new data series only refers to statewide data and does not include metropolitan statistical areas (MSAs).

Florida Realtors®, formerly known as the Florida Association of Realtors®, serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 115,000 members in 63 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org .

CONTACT: Marla Martin, Communications Manager, +1-407-438-1400 ext. 2326; or Jeff Zipper, Vice President of Communications, +1-407-438-1400, ext. 2314

Web Site: http://www.media.floridarealtors.org

English: Foreclosure Sign, Mortgage Crisis

Florida Foreclosures-Image via Wikipedia

It looks like the enormous logjam of foreclosures in Florida isn’t going to be cleaned up anytime soon. With almost 400,000 cases backlogged at this time and more coming in every day, some are estimating that it may be ten years before this mess is completely cleaned up. There’s enough finger pointing going on as it is with regard to who is responsible, but now the homeowners themselves have figured out a way to delay the process even more, insuring that they can stay in the house for up to a year longer.

Florida courts continue to struggle with a backlog of more than 368,000 pending cases, according to Jane Bond, a Florida foreclosure attorney at McCalla Raymer. It’s a nightmare, attorneys say — one with no end in sight.

“It’s not as bad as it seems. It’s much, much worse,” said David Rodstein, a foreclosure attorney with the Rodstein Law Group.

Bond and Rodstein chaired a panel at the Mortgage Bankers Association annual mortgage servicing conference in Orlando, Fla. The state is suffering from an ailing housing market. Home prices dropped 41% from 2006. Nearly half of all borrowers are underwater. Distressed properties abound. Unemployment is at 9.9%. And as it tries to clear the backlog of foreclosures, the state is going nowhere fast.

“The judges are frustrated. The attorneys are frustrated. The servicers are frustrated. Everyone is frustrated,” Bond said.

The average foreclosure in Florida takes nearly 800 days to complete, more than twice the national average, according to RealtyTrac.

Rodstein said 40% of foreclosures filed by servicers are contested by the borrower because of a very efficient bar system in the state. It’s helped create a cottage industry of delays, displacing an earlier system not any fairer.

“Borrowers can hire these attorneys for a small monthly payment — much less than the mortgage — and the attorney can come in and easily delay the case for year plus,” Rodstein said.

But the delay recently has much to do with some attorneys’ own mistakes.

Source

The story of Florida’s foreclosures will be one for the History books. The final chapter hasn’t been written yet and won’t be for a long time.

 

SW Florida Home Sales Jump 20%

home for sale

SW Florida Home Sales Jump 20%-mage by haglundc via Flickr

Anybody that’s been looking at foreclosures in the SW Florida area knows that the market had pretty much dried up for several months. The Banks had been holding on to their inventory because of the Robo-signing fiasco, but that seems to have changed. Some parts of SW Florida have seen home sales increase by up to 20% but prices are down. Some are blaming the Banks for dumping more properties on the market which in turn is driving prices down. Of course, if you’re in the market for a house, lower prices are obviously a good thing.

Home sales in Southwest Florida jumped by double digits in October but pushed pricing to near its Great Recession low.

The renewed push by banks on foreclosures and their rising use of short sales could be undercutting prices.

After clearing up some of their mortgage paperwork, big lenders operating in the region have been ramping up again on distressed properties. Some have been offering clients cash for short sales on their homes, where the lender takes less than is owed on the mortgage.

Sales rose 20 percent in the Sarasota-Bradenton market during October when compared with a year ago, with 801 homes changing hands.

But the median sales price dropped to $137,100, pushing the value to only slightly above its lowest point since the recession, $136,300. The September median was $156,800, so the October price represented a 13 percent drop from the previous month.

Sales also rose in the Charlotte County-North Port market, by 7 percent to 236 homes, while the median price of $90,000 was a 6 percent drop from a year ago and an 8 percent drop from September.

Around the state, sales rose 13 percent in Florida’s combined 19 major markets, with 12,145 homes changing hands.

The median price statewide saw a drop but not as pronounced as in this region. October’s $131,200 was a 4 percent drop from a year ago and a 2 percent decline from September.

Source

If you’ve been sitting on the sidelines waiting for that good deal in Florida, now is probably the time to get out there and start making some offers. This could possibly be the bottom of the market and prices may not get any lower. Also, this is November and Winter is approaching quickly. They don’t call Florida the “Sunshine State” for nothing.

 

Mortgage Lender Expanding Operations with High Expectations for 2012

Image via Wikipedia

America’s Most Convenient Bank to expand mortgage processing staff, majority to be based in South Carolina

TD Bank, America’s Most Convenient Bank®, will hire 87 employees to support its mortgage operations growth from Maine to Florida.  Fifty of these roles will be based at the bank’s Lexington, South Carolina loan center. The other 37 positions will be spread across the footprint.

These positions will encompass every aspect of mortgage operations, including loan processing, appraisals, underwriting, and customer care.  The roles will support the bank’s mortgage operations throughout its footprint.

“Expanding our mortgage team ensures that TD Bank will continue providing our customers with legendary service and hassle-free lending as our mortgage business continues to grow in 2012,” said Mike Copley, Executive Vice President, Retail Lending, TD Bank. “We are expanding our mortgage lending capabilities thanks to the strength of our credit rating, our commitment to portfolio lending, and the high performance of our employees.”

TD Bank is committed to providing a transparent mortgage procedure, providing consumers with what they need to know to turn a house into a home. TD’s hassle-free mortgage application with no hidden fees makes purchasing a home as smooth and worry free as possible. TD Bank’s loan origination strategy is focused on providing customers with simple products that are easy to understand and conveniently accessible through various channels.  TD offers a simplified product set including FHA and jumbo loans at competitive interest rates with a WOW! customer service experience.

To learn more about TD Bank, America’s Most Convenient Bank®, stop by a store, visit us at www.tdbank.com, or find us on Facebook and Twitter at www.facebook.com/TDMoneyLoungeUS and www.twitter.com/TDBank_US.

About TD Bank, America’s Most Convenient Bank

TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 7.4 million customers with a full range of retail, small business and commercial banking products and services at more than 1,275 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized wealth management services through TD Wealth, and insurance products and services through TD Insurance, Inc. TD Bank is headquartered in Cherry Hill, N.J., and Portland, Maine. To learn more, follow TD Bank on Twitter at www.twitter.com/TDBank_US or visit www.tdbank.com.

TD Bank is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America and one of the few banks in the world rated Aaa by Moody’s. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol “TD.” To learn more, visit www.td.com.

CONTACT: Erin Potts, +1-856-470-3002, Erin.Potts@td.com

Web Site: http://www.tdbank.com

Amscot Financial, a leading provider of convenient, consumer-oriented financial services, has surpassed a major milestone with the opening of its 175th branch in Ocala.

Founded in 1989, Amscot Financial has grown into a dominant provider of financial services across Central Florida, covering now 16 counties lying roughly along the Interstate 4 corridor. Amscot Financial serves more than 2 million customers per month and will conduct this year more than $7 billion worth of financial transactions.

The new branch in Ocala is located at 2594 Southwest College Road. Like most Amscot branches, it is located at a high-traffic intersection, convenient to a multitude of other business locations in Ocala. Also like other Amscot branches, the Ocala location will be open seven days a week, 365 days year. The hours are 7 a.m. to 9 p.m. Monday through Thursday and on Saturdays. On Fridays, the store remains open until 10 p.m. On Sundays, the hours are 10 a.m. to 8 p.m.

“We have found that our customers value convenience,” said Amscot founder Ian MacKechnie. “They want to be able to conduct their financial transactions quickly and at times and places convenient to them.”

Amscot’s new Ocala branch initially will create about 10 jobs, MacKechnie said. Depending on the location’s growth, it could generate as many as 20 total jobs for the Ocala area.

Amscot Financial is The Money Superstore™, offering an array of convenience-oriented financial services, including the cashing of personal checks, out-of-state checks and government checks. The company also offers small cash advances; Western Union wire transfers, notary services, pre-paid debit cards, free money orders and income tax preparation. Amscot Financial also allows customers to make bill payments to more than 200 different utilities, municipal governments, cable and telephone companies.

Amscot Financial employs more than 2,000 associates who work at the company’s 175 retail branches and at the company’s corporate headquarters in Tampa. The company currently operates retail locations in Hillsborough, Pinellas, Pasco, Hernando, Polk, Hardee, Highlands, Manatee, Sarasota, Orange, Osceola, Seminole, Lake, Volusia, Brevard and Marion counties.

About Amscot Financial

Headquartered in Tampa, Fla., Amscot Financial is a leading provider of income tax preparation and electronic filing services, refund anticipation loans, prepaid debit cards, check cashing services, cash advance services, bill payment services, money transfer services and money orders through its wholly owned division, Amscot International Money Order Company.  Amscot also offers the Amscot Card, a pre-paid debit card that allows owners to make purchases from any location that accepts MasterCard™. Amscot Financial currently operates 175 tax preparation offices and 175 retail financial service centers throughout Florida and employs more than 2,000 people. Amscot Financial has been recognized by the Tampa Bay Business Journal as one of Tampa Bay’s Best Places to Work for four consecutive years. For additional information, please visit the company’s Web site at www.amscot.com.
http://www.amscot.com

Florida Homeowners Mired in Chinese Drywall Hell

The Chinese Drywall Complaint Center estimates there are at a minimum 100,000 US homeowners in Florida stuck in a toxic Chinese drywall home, along with their families, and or children. The group also estimates at a minimum there are another 100,000+ homeowners, and family members stuck in toxic Chinese drywall homes, or condominiums in Alabama, Mississippi, Louisiana, Southeast Texas, and Virginia. The Chinese Drywall Complaint Center says, “President Obama’s catastrophic failure to lead on the imported toxic Chinese drywall disaster in Florida, and the US Gulf States is almost impossible to comprehend. We are coming up on an election year, and we are convinced the Republican Presidential Candidates, and the U.S. Voter will not have any problem understanding the costs of having a no show sitting U.S. President, or lack luster federal agencies, when it comes to what we consider to be the absolute worst environmental disaster for U.S. homeowners ever. These U.S. homeowners stuck in toxic Chinese drywall hell have children living in these homes as well, and a meaningful U.S. Federal Government response is long overdue.” http://ChineseDrywallComplaintCenter.Com

The Chinese Drywall Complaint Center says, “After two and a half years of urging President Obama, and numerous federal agencies to get involved, and President Obama not mentioning the imported toxic Chinese drywall disaster one time in public, we are formally inviting Governors Romney, Perry, and other Republican Presidential Candidates to come to Florida, before their September Florida Presidential Debates to see for themselves. Fort Myers, Miami-Dade, and or Cape Coral would all be great places to start, with respect to subdivision, after half empty subdivision loaded with toxic Chinese drywall, abandoned homes, and some remaining U.S. homeowners, and their families scared to death as to what might be the long term health consequences. Tragically, these poor U.S. citizens are stuck because they have no other place to go. For the record President Obama did visit Miami in mid June. Unfortunately, it was not to address the toxic Chinese drywall disaster for 100,000+ Florida homeowners, and their families, he was there to raise money for his Presidential Campaign from his rich friends in Miami? http://ChineseDrywallComplaintCenter.Com

So What Are The Vital Issues Related To Homeowners Stuck In Toxic Chinese Drywall Hell In Florida & Alabama, Mississippi, Louisiana, Southeast Texas, And Virginia.

  • The Chinese Drywall Complaint Center says, “Homeowners living in toxic Chinese drywall hell in Florida, and the Gulf States need immediate federal disaster relief, from the U.S. Federal Government, that includes mortgage relief from their lenders, and a sensible disaster program that will allow these homeowners to remediate their homes, so the homes are safe to live in.”
  • The US EPA needs to set standards for home remediation’s, and what to do with the toxic Chinese drywall after it is removed from the home.
  • The Chinese Drywall Complaint Center says, “We are extremely worried about the long term health effects for homeowners, and their children stuck in toxic Chinese drywall hell, in places like Florida, Virginia, or the U.S. Gulf States. If toxic Chinese drywall in a Florida home will turn electrical wires black, or cause copper air conditioning coils to turn black, and leak, what is it doing to the health of the homeowner, and their children?”
  • President Obama has yet to mention the toxic Chinese drywall disaster one time in public, and there has yet to have been any meaningful federal response?

The Chinese Drywall Complaint Center says, “Everyday we get calls from desperate Florida, or Gulf States homeowners, or their families about what to do, and or what help is available, and tragically we have no answer. We simply tell them President Obama has yet to mention the toxic Chinese drywall disaster one time in public, federal agencies mandated to care are no shows, and we will simply continue to try to get a meaningful federal response. We are tired of asking for a Federal Disaster Response for homeowners stuck in toxic Chinese hell, and we are baffled as to how President Obama gets a free pass with respect to not mentioning the toxic Chinese drywall disaster one time in public?” The group is now saying, “We are now demanding a federal response to the toxic Chinese drywall disaster, and we think it is vital Republican Presidential Candidates like Governors Romney, Perry, former Speaker Gingrich, and the rest come to Florida, and see for themselves. Please bring the National Press with you as well, as they have yet to adequately cover the story.” http://ChineseDrywallComplaintCenter.Com

 

Real Estate Group Calls for Reinstituting Federal Tax Credit

Real Estate Group Calls for Reinstituting Federal Tax Credit-Image via Wikipedia

The National Mortgage Complaint Center is warning of further US residential real estate valuation declines, based on new information related to US foreclosures. The group worries if the US residential real estate markets do not soon stop their declines, a second recession might be a optimistic thing. The group has called President Obama’s, or former House Speaker Pelosi’s attempts to help homeowners in foreclosures, or loan modifications, an utter failure, and a waste of taxpayer money. The group says, “We desperately need to stabilize the US residential real estate markets, and we think restoring the Federal Tax Credit for a home purchase would a huge step in the right direction. However, this time the Congressional Federal Tax Credit should be increased to $15,000, and it should be inclusive of not just first time home buyers, it should apply to every qualified home buyer, including investors.” The National Mortgage Complaint Center says, “With the enormous devaluations we have seen in most US residential markets, we need to stop the hemorrhaging, and do something meaningful to stabilize one of the most vital aspects to the US economy-our residential real estate markets.” http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center is urging US House of Representatives Speaker John Boehner to introduce immediate legislation that restores the Federal Tax Incentive Plan for home buyers. However, the group says, “the Federal Tax Incentive Home Purchase Program should not be limited to first time home buyers only. We believe a more robust federal tax incentive plan is called for, to include not just first time home buyers, but all qualified home buyers, including investors. Someone needs to step up to the plate to rescue the US residential real estate markets, and leadership is needed-now.” http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center is now warning, “If someone in the federal government does not exert some leadership immediately, it might be too late for the US residential real estate markets, and our economy. We appreciate the concept of free enterprise, and or risk, and return is lost on President Obama, but someone in DC had better start thinking outside of the box now, or it could be too late to do anything about the sinking US residential real estate markets.” The National Mortgage Complaint Center is also warning, “Now would not be a time for the US Congress to allow President Obama, and former House Speaker Pelosi to make an Economic Social Statement, with another insane program that allows individuals not qualified to buy a home, to get one. Now is the time to let the free enterprise system work, for qualified buyers, with tax credits being the incentive for participation.” http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center says, “On the topic of the US Federal Government, mortgages, and failure, we have a gigantic problem in Florida, and the extreme US Southeast involving imported toxic Chinese drywall, and probably 200,000+ homes. Typically these homes turn into foreclosures, because of homeowner fears about health effects to themselves, or their children. These fears are not unfounded. In a typical Florida home, or condominium, that contains toxic Chinese drywall, the electrical wires turn black, and copper tubes, or pipes also turn black, get pitted, and leak. The astonishing thing to us is in many to most cases US Taxpayer owned Fannie Mae gets the house as a foreclosure, and simply resells it to a new home buyer, with the only disclosure being As Is. As soon as the Florida, or Gulf States foreclosure buyer discovers the home contains toxic Chinese drywall, the home becomes a foreclosure all over again. And President Obama is contemplating getting the US Federal Government into the mortgage business? Has everyone in Washington, DC lost their minds? President Obama has yet to mention the toxic Chinese drywall disaster in Florida, or US Gulf States one time in public, after nearly three years in office?” http://NatonalMortgageComplaintCenter.Com

For more information about the imported toxic Chinese drywall disaster please visit http://ChineseDrywallComplaintCenter.Com

 

Foreclosure on Florida Shopping Center Complete

Foreclosure on Florida Shopping Center Complete

Foreclosure on Florida Shopping Center Complete

 

Global Fund Investments and MMG Equity Partners have completed the foreclosure on Harbour Village, a 112,886 square-foot shopping center anchored by The Fresh Market and Stein Mart. The property is located at the northwest corner of Atlantic Boulevard and San Pablo road and is conveniently situated near the entrance to Queen’s Harbour Yacht and Country Club, one of Jacksonville’s most affluent communities. Over 53,000 cars pass the shopping center daily, and the three mile population and average household income are estimated at 66,000 and $77,594, respectively.

After acquiring the conduit loan from a special servicer in an off-market transaction in April, the Global / MMG partnership set about the foreclosure process to take title to the property. The center is currently 86% leased, and the joint venture will focus on managing and leasing the property to stabilization. Global will assume the daily management and leasing functions for the shopping center.

Global’s Managing Partner, Doron Valero, stated, “Our team is pleased to have successfully completed another foreclosure process and take title to such a high-quality, core asset. We look forward to implementing our business plan and unlocking value from the property.”

MMG Principal, Gabriel Navarro, added, “We’re happy to have completed the foreclosure process and take title to one of the best-built and well- located shopping centers in Jacksonville. This transaction is another example of our ability to move very quickly and work within non- traditional transaction guidelines and timeframes. We look forward to continuing to work with lenders and servicers looking to quickly resolve troubled situations with a certainty of close.”

To learn more about Harbour Village, please visit – www.gfinvestments.com

For leasing opportunities at Harbour Village, please contact Kevin Buth at (321) 696.4383

For loan sale and property acquisition opportunities, please contact:

MMG Equity Partners: Gabriel Navarro (305) 637.7312

Global Fund Investments: John Strzalka    (305) 535.6305

About MMG Equity Partners – MMG Equity Partners is a privately-owned real estate investment company focused on long-term ownership, management, development, and acquisitions of shopping centers in Florida. For more information about MMG Equity Partners, please visit www.mmgequitypartners.com

About Global Fund Investments – Global Fund Investments, LLC, is a real estate investment company headquartered in South Florida. The company acquires, develops, redevelops, manages, leases, and finances retail shopping centers across the Southeastern United States, with a core focus on Florida and Texas. To learn more about Global, please visit the company’s website at www.gfinvestments.com

Media Contact: Gabriel Navarro MMG Equity Partners, 305.637.7312, gnavarro@mmgequitypartners.com
http://www.mmgequitypartners.com
http://www.gfinvestments.com

The Chinese Drywall Complaint Center is urging homebuilder, air conditioning, mortgage banking executives, or insiders with specific information about who knew what, and when they knew it, with respect to toxic Chinese drywall in Florida subdivisions, or condominiums to step up for what could potentially be dramatic rewards. The group says, “For good reason, we are not buying the notion that major US homebuilders had no idea that imported Chinese drywall was really a huge problem, until 2007, or 2008. The–we only started using toxic Chinese drywall after Hurricane Katrina line is a lie. We also know there are air conditioning technicians, or major homebuilder customer service representatives, who were told not to say anything to homeowners about why their air conditioning coils were continually failing, or why the homeowners were sick. The time frames for this are probably 2005, or before.” The Chinese Drywall Complaint Center says, “If you possess specific information about major national homebuilders engaging in a cover up of the imported toxic Chinese drywall disaster the rewards could potentially be in the millions. Call us at 866-714-6466, and we will try our best to explain how it all works.” http://ChineseDrywallComplaintCenter.Com

The Chinese Drywall Complaint Center is encouraging major homebuilder, air conditioning, or mortgage banking insiders in Florida to step forward for potentially huge rewards, if they possess specific, and provable information about cover-ups involving imported toxic Chinese drywall in 2005, or before. The group says, “We know major homebuilders in Florida were telling their customer service representatives, their mortgage division employees, and or their air conditioning subcontractors to say nothing about what they were seeing in toxic Chinese drywall homes in Florida as early as 2005, or before, and their could be huge rewards for this type of information.” The Chinese Drywall Complaint Center is also saying, “If you are an insider, and you have specific information about major homebuilders involved in toxic Chinese drywall cover up’s, please don’t go to the press, or the government first, because any type of public disclosure could degrade your chances for a reward. We know you are out there, we just want to try to make sure we get you pointed in the correct direction, and we will try our best to build a national caliber lawyers around you, in order to do everything possible to advance your claim.” For more information potential toxic Chinese drywall insiders are encouraged to call 866-714-6466, or contact the group via their web site at http://ChineseDrywallComplaintCenter.Com

The Chinese Drywall Complaint Center indicates the following types of information might result in a dramatic reward for a whistleblower:

  • A major national homebuilder knew that imported toxic Chinese drywall was causing enormous problems in Florida subdivisions, or condominiums in 2005, but they said nothing to the homeowners, about the problems.
  • Florida based air conditioning companies, or technicians were told to say nothing about air conditioning system failures, or AC coils turning black in major subdivisions, or condominiums, that contained toxic Chinese drywall. The technician simply replaced the black, or failed AC coil, without saying anything to the homeowner.
  • Major national homebuilder customer service representatives were told to lie, or not tell the truth about toxic Chinese drywall health related issues to Florida homeowners, in 2006, 2005, or before.
  • Major homebuilders building large subdivisions, or condominium projects in Florida, that were involved with federal tax fraud by misclassification of their mostly undocumented work force by using what the Americas Watchdog’s Chinese Drywall Complaint Center calls the 1099 Tax Fraud Scheme. These undocumented workers typically worked in “crews,” involving framers, drywall installers, roofers, concrete, or site work, etc.

For more information whistleblowers, who possess specific information about cover-ups, and or defrauding Florida new home buyers, in combination with toxic Chinese drywall are encouraged to contact the Chinese Drywall Complaint Center anytime at 866-714-6466, or they can contact the group via its web site at http://ChineseDrywallComplaintCenter.Com

(United States District Court-Eastern District of Louisiana MDL Case #2047)

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