Housing Prices, Miami Beach Real Estate

Housing Prices May be Stabilizing

A monthly study that tracks asking prices of homes in major markets nationwide is showing some "fragile signs" of stability.

Prices of properties listed for sale were higher in 18 of the 26 markets surveyed by Altos Research and Real IQ.

"It's important to note that it's far too early to call this any kind of recovery in the housing market," Michael Simonsen, Altos' chief executive, said in a release. "These are the first inklings that low interest rates and desperate sellers have coincided to create a kind of floor where well-financed buyers are picking up bargains."

Prices rose the fastest in San Francisco (3.8%) and fell the fastest in Las Vegas (4%) and Salt Lake City (3.9%) last month.

Miami Condos, Miami Beach Real Estate

Miami Condos; Will They Get Their Own Police Force?

Soon Florida could have condominium cops who would bust those who defraud community associations.

The state officers would have the authority to inspect the records and premises of any state regulated community: Miami condos, homeowners, cooperatives, mobile home parks and timeshares. Any cases they uncover would be handed over to a state attorney's office.

"We are getting so many cases of potential fraud that most local police departments are too overwhelmed to deal with them," said Rep. Julio Robaina, who filed House Bill 1397, proposing the new police force. "And most often they are low priorities for police who must worry about robberies and murders. So, nothing happens. But all this police force will do is condo fraud cases."

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Foreclosures, Miami Beach Real Estate

Foreclosures up 24% in 1st Quarter

According to data released Thursday, in the first three months of this year the number of American households threatened with losing their homes grew 24% and is poised to raise further as major lenders restart foreclosures after a temporary break.

Is President Barack Obama's plan to help up to 9 million borrowers avoid foreclosure through refinanced mortgages or modified loans a realuty? The Obama administration expects these plans to make a big dent in the foreclosure crisis. Despite $75 billion in incentive payments, it remains to be seen whether the lending industry will fully embrace it.

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Miami Condos for Sale, Miami Real Estate

Tough Rules Are Keeping Buyers From Miami Condos

Just as lower prices are drawing more buyers to the troubled Miami real estate market, federal rules are making it even harder for them to get loans.

One Miami resident can't buy the $94,000 condo he had his eye on at Treetops Lofts on Miami's Upper Eastside, but he does qualify for a smaller, higher-priced loft at a building called The Bank on nearby Biscayne Boulevard.

The reason: complex federal rules that make it extremely tough for buyers to qualify for loans in many Miami real estate, unless they come up with large down payments.

Just as demand seems to be on the upswing, these rules could undermine any recovery in the depressed Miami condo market and drive unit prices even lower.

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Miami Condos, MIami Real Estate

Miami Condos Buyers Upset by Loan Rules