HUD grant will allow construction of low-income housing in south Fort Myers
The Catholic Diocese of Venice in Florida has been awarded a grant of $9,724,600 from The Department of Housing and Urban Development.
Read more on The News-Press
HUD grant will allow construction of low-income housing in south Fort Myers
Posted on 19 July 2010 by admin
Currency Issues and Revealing Housing Stats in Florida
Posted on 04 July 2010 by admin
With the pound and euro continuing to strengthen relative to the dollar, your hard earned cash can now stretch very far indeed. If you wanted $60,000 in late May it would have cost you around €45,000/£40,000. Now it will cost €40,000/£36,500. That’s quite a difference.
So a weak dollar is great news for those seeking to purchase US property from abroad, but as many of our readers working in the financial industry will know, the prospect of a consistently weak dollar is of real concern to finance ministers, company bosses and traders around the world.
If one were to listen to the US authorities the message is pretty much the same every week, “it is very important for the US to have a strong dollar”. They haven’t been taking much action to backup that message though.
As any first year economics student will tell you, a weak currency boosts exports and restricts demand for imports, thus improving the economy and lowering the trade deficit. This might suit the US in the short term but it certainly doesn’t suit the EU or Asia, both of whom want to sell their goods and services to the US as cheaply as possible to kick start their own economies.
The other big worry revolves around the strategies big countries like the US, Britain, Germany, Japan and China will pursue to withdraw the massive assistance they’ve been providing to prop up their economies. That’s an article for another newsletter though.
Florida – Very Revealing Statistics…
I’ve been making quite a big effort over the past six months to emphasize the speed at which the Florida market has been recovering from the credit crunch and property slowdown. Yesterday morning I received two graphs from one of my main contacts on the ground that will illustrate this far more clearly than my words have ever done.
Graph 1: Supply in Florida has been falling dramatically for almost a year. This is because developers are not starting new construction projects and prices of existing stock have been slashed by up to 75%, thereby boosting consumer and investor demand (with a little help from US subsidies for first time buyers).
Graph 2: The market bottomed out in December 2007 and it took another 15 months before activity reverted back to late 2006 levels. Over the past six months, it has been quite frantic, which huge volumes of new contracts being issued to a wide variety of buyers.
Breaking through the pain barrier
In short – developers, banks, agents, investors and homeowners all had to go through a world of pain between September 2006 and September 2009. Their counterparts in Ireland, Britain and mainland Europe have had it easy in comparison.
Prices are still low, but they are not going lower, of that I am quite sure. There will always be good deals out there for the shrewed and well connected buyer, but the days of snapping up a high quality unit for $50-60k that used to cost $200-$230k are numbered.
Torcana Ltd is a property investment consultancy dealing with investments in foreclosed property, distressed property, and discounted property in USA, Spain, UK, and Panama. For more information please visit: – http://www.torcana.com
Obama Housing Stimulus Package And Home Owner Rescue Plan
Posted on 03 July 2010 by admin
Do you have the advantage of the housing stimulus package President Obama and a homeowner rescue plan? Or did you have any questions, how it works and wonder whether you should check to see yourself whether you will benefit?- Loans home owner
There are qualifications that must be met. For example, you have (a Freddie Mac or Fannie Mae, government-backed loan because the risk of these loans, the government is already in possession), and about half of the mortgages fall into thisCategory. You can use your bank, mortgage, or loan modification review service to determine whether your loan qualifies.- Loans home owner
If you are not such a government-backed loan, but you pay more than 31% of monthly gross income, you may qualify for either. One of the ideas of this rescue plan is to help the people who offered to lock in the lower rates today that they have not the 20% stake, which was previously required. However, the Treasury will not pay subsidies to lower rates below 2%.
TheChange plan states that a servicer to reduce the interest rate, so that the homeowners, the monthly obligation shall not exceed 38% of the borrower before taxes. The Government then enters into money in order to reduce the payments up to 31% of their income. Also, as an incentive lender will receive $ 1,000 for each amendment and further to $ 1,000 per year for the next three years, as long as the borrower is currently receiving pay for the credit. And the borrower receives up to $ 1,000 per year for five years, as longhow they stay up-to-date on their loan. This latter $ 1,000 per year shall reduce the principal on the loan and thus the amount that is owed. READ MORE http://www.loanshomeowner.equitylinesite.com/2009/09/28/obama-housing-stimulus-package-and-home-owner-rescue-plan/
Loans Home Owner-Obama Housing Stimulus Package And Home Owner Rescue Plan
Posted on 02 July 2010 by admin
Do you have the advantage of the housing stimulus package President Obama and a homeowner rescue plan? Or did you have any questions, how it works and wonder whether you should check to see yourself whether you will benefit?
There are qualifications that must be met. For example, you have (a Freddie Mac or Fannie Mae, government-backed loan because the risk of these loans, the government is already in possession), and about half of the mortgages fall into thisCategory. You can use your bank, mortgage, or loan modification review service to determine whether your loan qualifies.http://www.loanshomeowner.equitylinesite.com/2009/09/28/obama-housing-stimulus-package-and-home-owner-rescue-plan/
If you are not such a government-backed loan, but you pay more than 31% of monthly gross income, you may qualify for either. One of the ideas of this rescue plan is to help the people who offered to lock in the lower rates today that they have not the 20% stake, which was previously required. However, the Treasury will not pay subsidies to lower rates below 2%.
TheChange plan states that a servicer to reduce the interest rate, so that the homeowners, the monthly obligation shall not exceed 38% of the borrower before taxes. The Government then enters into money in order to reduce the payments up to 31% of their income. Also, as an incentive lender will receive $ 1,000 for each amendment and further to $ 1,000 per year for the next three years, as long as the borrower is currently receiving pay for the credit. And the borrower receives up to $ 1,000 per year for five years, as longhow they stay up-to-date on their loan. This latter $ 1,000 per year shall reduce the principal on the loan and thus the amount that is owed. read more http://www.loanshomeowner.equitylinesite.com/2009/09/28/obama-housing-stimulus-package-and-home-owner-rescue-plan/
All About Housing Assistance For Single Mothers
Posted on 30 June 2010 by admin
One of the greatest challenges of a single mother is paying house rent or paying for a new house. It may be a little easier for a single mother to get food and clothing but the cost of renting a house could be too much for her to bear. Therefore, finding housing assistance for single mothers is like finding a dream land. But that does not mean there is none. In fact there are various ways in which housing assistance can be obtained for single mothers.
Apart from the various resources that take cares of housing needs for single mothers, there are also other forms of assistance from the government as well as private bodies available to help single mothers to return to college. Many single mothers are stuck on minimum wages because they do not have the financial ability to pursue decent education that will afford them the opportunity to work in blue chip companies, which in turn will pay them better monies that will enable them to provide for their household.
Whether it is housing assistance for single mothers or education assistance, there is always a program in place to meet every need of a single mother. Housing assistance for single mothers is provided by the government in the form of housing subsidies. This enable a single mother to pay a token sum and in turn are able to live in a decent apartment. There are also a couple of private organizations who provide shelter for single mothers at no cost but for temporary period of time. The stages of moving from one place to another could be one of the most difficult for a single mother and her children. This is the period when non-profit organizations actually step in to help with providing shelter and even food for single mothers.
The greatest problem women have however is the problem of not knowing where to go or who to talk to. If you are a single mother who needs housing assistance for single mothers, do not stay silent. If you do not know who to talk to, go on the internet and make a search, you will be amazed at how many resources are at your disposal. There are also organizations on the internet that will be willing to help in whatever way they can.
Click here for more information on housing assistance available to you.
NORMS LIKELY FOR GOVT BODIES TO BUY UNSOLD HOUSING UNITS FROM PVT BUILDERS
Posted on 29 June 2010 by admin
REALTORS TEMPTED TO TOE GOVT LINE IN HOUSING SECTOR
The government is considering a proposal that seeks to boost the public-private partnership model to the housing sector, encouraging state-run institutions such as National Housing Board (NHB) and the Delhi Development Authority (DDA) to tie-up with private realty developers to ensure that projects are executed in time and the supply of new houses remain intact regardless of fluctuations in the market.
According to a person involved in the process, the scheme will work the same way financial intermediaries underwrite corporate bonds and initial public offers in case there is a shortfall in subscription by the targeted investors.
India already has a shortfall of 20-25 million housing units in urban areas, which is expected to go up as the country gets more urbanised regions. Public agencies such as DDA and Haryana Urban Development Authority (HUDA) sit on huge land tracts and tapping the private sector will be beneficial for both parties as well as the common man, goes the reasoning behind the proposal.
The person, who wanted to remain anonymous since the draft needs to be cleared by the Planning Commission and the Urban Development Ministry before it is put out for an open feedback from the private realty players, said the scheme would apply to only those projects where government agencies have a role to play.
According to the plan, an agency like HUDA, instead of constructing projects on its own, will sell off the land for a private developer with a rider: the maximum price the developer can charge from buyers will be fixed by the agency. Alternatively, it will assure the developer that it will buy the unsold flats, if any.
The scheme, once approved, will be run on a trial basis with a state government that is not constrained by the Fiscal Responsibility and Budget Management norms. R V Verma, executive director of NHB, told SundayET that the PPP model would result in higher efficiency, sustainability of funding and construction with the ‘backstop’ underwriting facility extended by the public agencies with government support.
“The whole efficiency of the structure would lie in the clarity around the role of each actor, commonality of objective and performing to scales in a partnership mode,” he said.
KPMG’s executive director and head of infrastructure and government practice Jai Mavani said the proposal may result in credit enhancement but cautioned that developers should not be completely insulated from the risks involved in projects.
“Underwriting could certainly be a carrot for developers but it can backfire if they have no skin in the game. Complacency could result in lowering of the quality standards and timeliness of the delivery,” he said. According Mr Mavani, underwriting ideally should cover only costs and not the margins, otherwise it would operate as a subsidy. “This is not necessary given the maturity of the industry and existence of a number of players,” Mr Mavani said.
A high-level committee comprising various stakeholders will soon be set up to fine tune the proposal.
Courtesy:- ET dt:- 12-07-09
Raja Kaushar
Mayor Of Manila: Atienza To Improve The City’s Program For Housing, Peace And Order, And Education
Posted on 27 June 2010 by admin
Former Manila mayor Lito Atienza has vowed to continue his commitment in serving his beloved city and dearest Manilenos. The former mayor of Manila has decided to join the Manila elections to continue what he has done for the city and its residents after completing a full nine-year term. The only mayor of Manila who has served a full term, Atienza is seeking another three-year mandate as city mayor to achieve his dream of providing the Manilenos with a city that they can truly call their own and which they will care for. Atienza one of the most revered and respected leaders of the city, will be continuing his livelihood programs and effective delivery of other services which has benefited much of the city’s impoverished residents during his stint as city mayor.
Being a true statesman and a public servant, former Manila mayor Lito Atienza’s platform “Buhayin Nating Muli and Maynila” will prioritize the social welfare and development of Manila’s residents. One of the foremost priorities of the former mayor of Manila is to improve the local government’s delivery of basic social services. In light of this, Atienza has laid out a number of programs and flagship projects, all of which will benefit the poor residents of Manila. These programs and projects cover a wide array of social areas and includes programs for housing, healthcare, peace and order and education.
Under Atienza’s administration, Manila’s poor residents benefited from the former mayor’s housing and land for the landless projects. With the assistance of non-government organizations like Gawad Kalinga and Habitat For Humanity, thousands of houses were built in Baseco, a 50-hectare reclaimed area dedicated for the city’s housing programs. Atienza plans to continue the same massive housing projects in Manila’s impoverished sections including Isla Putting Bato, Parola 1 and 2, among other.Middle class families will also gain access to affordable housing programs to be launched by Atienza.
Health care services is also among the foremost concerns of former Manila Mayor Lito Atienza. Atienza has outlined his plans to increase the budget allocated for the procurement of medical equipment and medicine to improve the delivery of healthcare services. “Sama sa Masa”, a flagship project of Atienza wherein doctors conduct free medicines and checkups to every barangay of the city; will also be continued. Atienza will also provide Manila residents with free dental and eye care.
Improving the peace and order situation in the city is also a major concern of Atienza. Atienza believes that illegal drugs are the major culprit of crimes in the city. As an immediate solution and to lower down the city’s crime rates, Atienza has vowed to run after drug syndicates and criminals. Atienza looks forward to providing Manilenos with a peaceful environment wherein anyone can live without fear and unmindful of their safety.
Atienza has also put a premium on quality education which he believes is the key for poverty alleviation and upliftment of the lives of the impoverished. Atienza vowed to continue providing public school students with free education, school supplies and even school shoes.Manila’s public universities like Unibersidad de Manila and Pamantasan ng Lungsod ng Maynila will undergo transformations to provide the city residents with an affordable and quality college education.Atienza also wants to bring back his non-formal education program wherein unemployed parents and out of school youth can complete their degree in a short time. Under Atienza’s flagship program called Alternative Education, high school students can have access to vocational and technical education which can help them in finding future employment.The handing out of scholarships and other subsidies to students will also be continued as part of the former mayor’s platform for education.
Former mayor of manila Lito Atienza has joined Manila elections to continue his dedication and commitment in uplifting the lives of the city’s residents. Atienza platform is centered on improving local government’s delivery of basic services as a way of addressing the poverty incidence in the city. Former Manila mayor Lito Atienza has pledged several programs for housing, peace and order and education, all of which will benefit the city’s poorest residents.
Lito Atienza has become one of the major pillars and most influential names of Philippine politics. The elections for Manila mayor would certainly be a half-baked race if it did not include an option such as him.
Mayor Of Manila: Atienza To Push For Housing, Peace And Order, And Education
Posted on 24 June 2010 by admin
Former Manila mayor Lito Atienza will continue his commitment in serving his beloved city and dearest Manilenos. The former mayor of Manila has decided to join the Manila elections to continue what he has done for the city and its residents after completing a full nine-year term. The only mayor of Manila who has served a full term, Atienza will seek another three-year mandate as city mayor to fulfill his dream of providing the Manilenos with a city that they can truly call their own and which they will care for. Atienza one of the most admired leaders of the city, promised to continue his livelihood programs and effective delivery of other services which has benefited much of the city’s impoverished residents during his stint as city mayor.
Being a true statesman and a public servant, former Manila mayor Lito Atienza’s platform “Buhayin Nating Muli and Maynila” is centered on the welfare and development of Manila’s residents. One of the primary priorities of the former mayor of Manila is improving the local government’s delivery of basic social services.In light of this, Atienza has bared several programs and flagship projects, all of which are designed to benefit the poor residents of Manila. These programs and projects cover a wide array of social areas and includes programs for housing, healthcare, peace and order and education.
Under Atienza’s administration, Manila’s poor residents were granted with free housing and land ownership under the former mayor’s housing and land for the landless projects. By working closely with non-government organizations like Gawad Kalinga and Habitat For Humanity, thousands of houses were built in Baseco, a 50-hectare reclaimed area dedicated for the city’s housing programs.Atienza also plans on pushing for the same massive housing projects in Manila’s impoverished sections including Isla Putting Bato, Parola 1 and 2, among other. Middle class families will also gain access to affordable housing programs to be launched by Atienza.
Health care services is also among the foremost concerns of former Manila Mayor Lito Atienza. Atienza has outlined his plans to increase the budget allocated for the procurement of medical equipment and medicine to improve the delivery of healthcare services. “Sama sa Masa”, a priority project of Atienza wherein doctors conduct free medicines and checkups to every barangay of the city; will also be sustained. Atienza will also provide Manila residents with free dental and eye care.
Improving the peace and order situation in the city will also be one of Atienza’s immediate priorities.Atienza believes that illegal drugs are the major culprit of crimes in the city. As an instant resolution and to lower down the city’s crime rates, Atienza has promised to run after drug syndicates and criminals. Atienza is optimistic that he can provide Manilenos with a peaceful environment wherein anyone can live without fear and unmindful of their safety.
Atienza also believes that quality education is the key for poverty alleviation and upliftment of the lives of the impoverished. Atienza vowed to continue providing public school students with free education, school supplies and even school shoes.Manila’s public universities like Unibersidad de Manila and Pamantasan ng Lungsod ng Maynila will also be improved and strengthened to provide the city residents with an affordable college education. Atienza also plans to bring back his non-formal education program wherein unemployed parents and out of school youth can complete their degree in a short time.Under Atienza’s flagship program called Alternative Education, high school students can avail of vocational and technical courses which can help them with their employment. Scholarships and other subsidies will also be continued as part of the former mayor’s platform for education.
Former Manila Mayor Lito Atienza has pledged several programs for housing, peace and order and education which are designed to benefit the city’s impoverished. The former mayor of Manila has joined the Manila elections and vowed to continue to be committed in uplifting the lives of the city’s impoverished residents. Atienza plans to focus on several programs which are designed to improve the delivery of basic services which will benefit the city’s poorest residents.
Lito Atienza has become one of the major pillars and most influential names of Philippine politics. The elections for Manila mayor would certainly be a half-baked race if it did not include an option such as him.
Lito Atienza Pushes To Improve The City’s Program For Housing
Posted on 22 June 2010 by admin
Former Manila mayor Lito Atienza has vowed to continue his commitment in serving his beloved city and dearest Manilenos. The former mayor of Manila will be joining the Manila elections to continue what he has done for the city and its residents after completing a full nine-year term.The only mayor of Manila who has served a full term, Atienza will seek another three-year mandate as city mayor to fulfill his dream of providing the Manilenos with a city that they can truly call their own and which they will care for. Atienza one of the most loved and respected leaders of the city, plans to sustain his livelihood programs and effective delivery of other services which has benefited much of the city’s impoverished residents during his tenure as city mayor.
Being a true statesman and a public servant, former Manila mayor Lito Atienza’s platform “Buhayin Nating Muli and Maynila” will prioritize the social welfare and development of Manila’s residents. One of the major priorities of the former mayor of Manila is the improvement the local government’s delivery of basic social services. In light of this, Atienza has bared several programs and flagship projects, all of which are designed to benefit the poor residents of Manila. These programs and projects cover a wide array of social areas and includes programs for housing, healthcare, peace and order and education.
Under Atienza’s administration, Manila’s poor residents were granted with free housing and land ownership under the former mayor’s housing and land for the landless projects. With the assistance of non-government organizations like Gawad Kalinga and Habitat For Humanity, thousands of houses were built in Baseco, a 50-hectare reclaimed area dedicated for the city’s housing programs. Atienza plans to continue the same massive housing projects in Manila’s impoverished sections including Isla Putting Bato, Parola 1 and 2, among other.Middle class families are also set to benefit from affordable housing programs to be launched by Atienza.
Health care services is also among the top priorities of former Manila Mayor Lito Atienza. Atienza has bared his plans to increase the budget allocated for the procurement of medical equipment and medicine to improve the delivery of healthcare services. “Sama sa Masa”, a flagship project of Atienza wherein doctors conduct free medicines and checkups to every barangay of the city; will also be continued. Atienza will also provide Manila residents with free dental and eye care.
Improving the peace and order situation in the city is also a major concern of Atienza. Atienza knows very well that illegal drugs are the major culprit of crimes in the city.As an immediate solution and to lower down the city’s crime rates, Atienza has vowed to run after drug syndicates and criminals. Atienza looks forward to providing Manilenos with a peaceful environment wherein anyone can live without fear and unmindful of their safety.
Atienza also believes that quality education is the key for poverty alleviation and upliftment of the lives of the impoverished. Atienza has bared his plans to continue providing public school students with free education, school supplies and even school shoes. Manila’s public universities like Unibersidad de Manila and Pamantasan ng Lungsod ng Maynila will also be enhanced to provide the city residents with an affordable and quality college education. Atienza also plans to bring back his non-formal education program wherein unemployed parents and out of school youth can complete their degree in a short time.Under Atienza’s flagship program called Alternative Education, high school students can avail of vocational and technical courses which can help them with their employment. Students will continue to benefit from scholarships and other subsidies as part of the former mayor’s platform for education.
Former Manila mayor <a rel=”nofollow” onclick=”javascript:pageTracker._trackPageview(‘/outgoing/article_exit_link’);” href=”http://mayorlitoatienza.wordpress.com/” target=”_blank”>Lito Atienza</a> is seeking another three year mandate in this coming <a rel=”nofollow” onclick=”javascript:pageTracker._trackPageview(‘/outgoing/article_exit_link’);” href=”http://mayorlitoatienza.wordpress.com/” target=”_blank”>Manila elections</a> to continue his commitment in uplifting the lives of the city’s impoverished residents. Atienza plans to improve of the local government’s delivery of basic services which he views as the solution to the poverty incidence in the city. The former <a rel=”nofollow” onclick=”javascript:pageTracker._trackPageview(‘/outgoing/article_exit_link’);” href=”http://mayorlitoatienza.wordpress.com/” target=”_blank”>mayor of manila</a> has outlined several programs for housing, peace and order and education which are designed to benefit the city’s poorest residents.
Lito Atienza has become one of the major pillars and most influential names of Philippine politics. The elections for Manila mayor would certainly be a half-baked race if it did not include an option such as him.
Banks and Housing Loans
Posted on 21 June 2010 by admin
The great American comedian, Bob Hope, said in a deadpan voice, “A bank is a place that will lend you money if you can prove that you don’t need it.” A recent news report said that more companies, mostly small and not-so-small scale property developers, would fold up because the economic situation is beginning to look bright. Banks are starting to cut their losses and the prevailing attitude is “to look and see what will happen next”. Since these companies have other lenders besides the banks, banks are looking at the bad loans figures. The big banks are not worried at their home lending shares because, until the house is fully paid, they have their hands on the deeds of the houses. However, for homeowners, especially those with grants from the Government, they could experience an increase in the interest rates of up to one percent in the next 12 months. When these happens, people would further tighten their slashed budgets or even take on bad credit cash loans if they have financial emergencies that are outside their budgets.
However, for those who are already midway in paying for their dream house when the financial crisis slammed on Wall Street and the crash reverberated around the world, these people are now struggling to pay their mortgages. One drastic option is to apply for a bankruptcy housing loan. This loan is quite difficult to obtain, unlike personal loans online that usually have minimal requirements. But for a bankruptcy housing loan, the borrower must follow very strict requirements and high interest rates and fees. Borrowers should expect a smaller loan amount, compared to other kinds of loans. And, like applying for any kind of loan, it would be better if the borrowers have no financial obligations and they have settled with their creditors. If not, the application for this type of loan may not be approved. To top it all off, the borrower may only be able to get the bankruptcy housing loan two years after the declaration.
Financial experts advise first homeowners, particularly those without grants or subsidies from the Government and other institutions, to wait for a few months before buying the dream house. In addition, people considering buying a house must first check if their credit rating is good. With the economic situation at hand, who knows if in the next few months, interest rates would go down or banks and other lending institutions would offer a higher loan amounts for housing.
Jessica Lang, online marketer of http://www.cashdoctors.co.nz, New Zealand’s preferred short term lender, shares his insights on money matters. Cash Doctors also help people in the long run by providing budgeting tools, e-books and individually researched articles on money matters and financial tips. The aim is to assist people in achieving instant and long term financial freedom.
