My New Blog

Jan 27 2010 from a very happy foreign investor from Argentina

Dear Shelley and Alan,

Today I have signed off the closing package and wired the funds for 8536 Irlo Bronson property.

I will wait the confirmation from Liberty tomorrow but I assume everything will be fine.

This was my first experience buying a property in the US and also has been done fully remotely from overseas (I will go on).

At this point of time I would need to recognize that your help and guidance during the whole process was critical for me and extremely important.

I was glad to see in the closing package you will received a well deserved fee for the purchase, however if I need to pay any extra fee for your service please let me know, I will be happy to do it.

As I told Shelley on the phone I’m planning a trip to Orlando in the short term, I will let you guys know as I’m really looking forward to meet you in person.

I’m quite sure we will keep in touch to ultimate details

Thanks and regards

Horacio

The Orlando Sentinel reports that the Sunrail bill passed the Senate today, and is on it's way to Governor Crist's office for his signature. I cannot say that this is or is not the best deal, but I do believe that this is critical to continue to support the growth of Central Florida. The recession has stunted the decades old growth pattern that has been going on here in the Orlando area, but growth will return to our area for the same reasons that fueled the prior growth. California has boomed and busted many times over, but it will boom again. Ultimately, people are drawn to the sea and the weather. I am a native of Central Florida, and I could not imagine living with snow and ice for months on end. I remember the line from the movie "if you build it they will come." In Orlando if we build it they will come, if we don't they will still come. Sunrail will help alleviate a lane of traffic on I-4.

Orlando is consistently ranked as one of the most virtually connected cities in the country, and with Sunrail we will become more physically connected. The presentations that I have seen on this project suggest that very conservative estimates have been made regarding ridership, and they still suggest favorable results. Similar rail systems in other communities actually exceeded ridership estimates. The other positive impact is the economic growth that areas along similar train routes have experienced. Could we have gotten a better deal? Perhaps, but the numbers worked under the current scenario with conservative ridership estimates. Hopefully, we exceed the estimates for ridership, costs will come in lower than original estimates and the trail will arrive on time. Only time will tell for sure, but I believe commuter rail is an idea whose time has come for Central Florida.

My Skype name is disney daddy.

I have not used it for a long time  (6 years or so)  boy how it has inproved !!

Skype is free,  just like my service to buyers :)

You can sign up for Skype  and talk to me free or charge !!  If you have a Web cam then I can see you .  I  have a camera too so you will be able to see me.  We will be able to have a meaningful conversation that will answer all of your questions.  Give it a try.  go to www.skype.com and sign up and we can get talking for free !!

I am sitting here in my hotel room servicing my clients while waiting for Hurricane IDA.  It is expected any minute so I hope the internet connection is not lost.  Anyway,  work and play must go so I am away to the gym.  Buyers and seller should still get answers from me once or twice a day.  If you do not then it will mean that we have lost power and or the internet connecting..  Bye for now

Alan in not so sunny Mexico :)

Some of you have asked me about

Non Warrantable Condos - these are condominiums that are not eligible to be sold to Fannie Mae or Freddie Mac because they DO NOT fit into one of the following three classes:

CLASS I

1. Developers control of the homeowners association has been turned over to the condo owners
2. Project is not subject to additional phasing or add-ons which have not yet been completed
3. All common elements and amenities must be fully installed, completed and in operation
4. 70% of all units in the entire development must have been sold and or legally obligated to close
5. 70% of all units in the entire development must have been sold to owner occupants

CLASS II

1. Recent or current condominium conversions (from apartments)
2. Homeowners association has been controlled by the unit owners (other than the developer) for less than two years
3. Project is not subject to phasing or add-ons which have not yet been completed
4. All common elements and amenities are fully installed, completed and in operation
5. 70% of the units in the entire development must have been sold and/or legally obligated to close
6. 70% of the units in the entire development must have been sold to owner occupants
7. No more than 15% of the current unit owners are more than one month delinquent in payment of homeowners dues or assessments

CLASS III

1. Homeowners Association has been controlled by unit owners (other than developer) for at least one year
2. Project is not subject to phasing or add-ons
3. All common amenities are fully installed, completed, and in operation
4. 90% of the units have been sold (owner-occupancy of at least 60%)

A CONDO QUESTIONNAIRE MUST BE COMPLETED BY THE MANAGEMENT TO DETERMINE PROJECT ELIGIBILITY

For those who are considering purchasing Non-Warrantable condos, they should expect to pay higher interest rates on their mortgage loans. Because FNMA would not purchase mortgages secured by non-warrantable condominiums, many banks consider these condos to be more risky, and thus increase the interest rate accordingly.

Depending on the loan program you select, be prepared to have a down payment on the home. Most lenders will only offer low Loan-to-Value financing on non-warrantable condos.

We do not know of anyone offering loans onNon Warrantable Condos at this time.  So Cash only buyers are able to take advantage of the outstanding deal that we can help them with

to whom it may concern.  I have found some great General Contractors

"As a real estate broker and property manager, I know how important it is to refer only qualified contractors to my clients that need assistance with their properties. I asked Alacarte Builders to do a small job for me at my personal residence. They showed up on time, communicated very well, were very courteous and kept things clean. They also did a nice job and I am satisfied so I refer them to my clients whenever there is a need." - Alan Martin, Windermere, Florida