Over the weekend there has been a large number of Vultures and and Wood Storks in the Mission Bay south lake near laguna and Harbour springs. There appears to a large number of dead fish on the banks near homes. I have contacted the mission bay home owners association and quality management to find out information on what is causing this. If anyone knows the cause please contact me and I will post it on the blog.  Jim Cox 11/12/2007

I have come across a lot of questions lately regarding reverse mortgages and manufactured/mobile homes. Many people think these types of properties do not qualify.  As a mortgage broker in South Florida, I have recently done several reverse mortgages for people living in manufactured/mobile homes. Reverse mortgages can be done on manufactured/mobile homes, but there are some conditions that  apply.Here's some information about what's needed to qualify for a reverse mortgage for these types of properties:The home must have been built after 1976The home must be permanently attached to a foundation  an appraisal will be needed- the cost is around $460 - more than a conventional appraisala structural engineering report must be completed  cost abut $450. This must be completed to make sure t... 11/11/2007

The local state government's chief economists are estimating property values for homes and businesses will continue its downward spiral in 2008 as stated in todays Miami Herald.  Believe it or not, local governments are considering raising millage rates to make up for the shortfall of tax dollars currently being collected. This in my opinion will compound the current problem of property taxes already being too high and govenment spending totally out of control. If governor Crist signs legislation to legalize gambling with the Seminole Indians in Broward County, all problems could be solved and property taxes could continue to fall as property values fall. Every Sunday the casinos are giving away a brand new Bentley. The tax monies we could generate from the casinos alone could be stagge... 11/09/2007

Whenever I go back to my home state Michigan and I tell people that I live in Boca Raton, their eyes get big and they say "wow, you are really living the high life."Boca Raton does have a reputation for being an expensive place to live here in South Florida.  And true, there are many wealthy communities in Boca Raton.  And on the flip side, there are also many nice communities that are within reach of the "not so rich" homebuyer.Rainberry Park, for example.  This established community of approximately 200 homes comprised of 2 bedroom villas and 3 bedroom homes is located north of Palmetto Park Road, just east of 441. Homes in Rainberry Park are selling in the $230-300K range.  The quiet, pet friendly community is nicely landscaped with 2 small lakes and boasts a pool, kiddie pool, tenni... 11/09/2007

                             FLORIDA LIFESTYLE LIVING  I have had many recent questions regarding deepwater dockage and condos, If you have a boat or maybe a sailboat that requires deepwater dockage there are a few different places offering this ,But one I am quite fond of would be the Sea Ranch Club in Boca Raton, Fl. Located on North Ocean Boulevard, Boca Raton, Florida. , Sea Ranch Club is guard-gated of private, Tropical landscaped  grounds stretching from the Atlantic Ocean to the Intracoastal Waterway. 4 luxurious high-rise buildings and 18 town-homes. There are many amenities including private beach access, a tranquil waterfrontpark, beautiful gardens, 5 swimming pools, and 4 tennis courts. Private deepwater boat dockage is additionally available .Each building has it's own separ... 11/08/2007

   The ParkOne of Boca Raton's many pristine public parks borders the Atlantic Ocean with an impressive one and a half miles of beach.  Two walking path tunnels, set under Ocean Boulevard, connect the beach to a forest and picnic area within the 95 acre park.  The west side of the park borders the Intra-Coastal Waterway and provides a boat docking area for visitors.  There is an overnight camping area and several children's play areas.     Things To DoThe mostly shaded park has numerous shelters & picnic areas for grilling.  Nature walks and bike trails meander through the natural tree canopy with abundant Florida wildlife.   You can fish, kayak or canoe here.  There are sand volley ball courts and a designated surfing area. (See Photo Slide-Show Below)                         Do you ha... 11/08/2007

Thought you might be interested in hearing about an actual reverse mortgage that I recently closed for one of my clients.While I am a mortgage broker located in Palm Beach County, I originate loans thoroughout the entire state of Florida.First, some background on the client situation.Mrs. Sanders, widow, age 72 (not her real name) recently contacted me to do a refinance. She lives in a double wide mobile home in Central Florida. She had a $26,000 mortgage at a rate of 11%. She was hoping to lower her rate and save some money. Her monthly mortgage payment was $330. Her monthly income from Social Security is $750. She was finding it difficult to make ends meet each month after paying her mortgage, utilities, and other living expenses.The first thing I determined was that even if I refinan... 11/08/2007

WEST BOCA , LOGGERS , RUNS BOCA FALLS AN UPSCALE COMMUNITY WITH "A" RATED WATERS EDGE ELEMENTARY & LOGGERS RUN MIDDLE   THE NEW WEST BOCA RATON HIGH SCHOOL. BOCA FALLS HAS MANY LAKES THRUOUT COMMUNITY,2 MANNED GATEHOUSES,10 SEPARATE NEIGHBORHOODS CONNECTED BY BOCA FALLS DRIVE WHICH STRETCHES FROM GLADES RD. TO PALMETTO PK. RD. THE 10 NEIGHBORHOODS ARE.....  The Estates                                    Majestic PointeVictoria FallsCrystal Pointe                                                                                    Mystic Bay Emerald Isle Emerald Pointe Mystic CoveMajestic Bay CascadesBOCA FALLS ALSO HAS A STATE OF THE ART REMODELED CLUBHOUSE AND REMODELED FITNESS CENTER,HEATED SWIMMING POOL WITH CANOPIES FOR SUN PROTECTION,SUPER PLAYGROUND WITH CANOPIES FOR SHADE,6 TENNIS ... 11/07/2007

  A History of the FounderJohn Pedersen was born in 1897 in Racine, Wisconsin.  After serving in World War I, John married Lillian Nelson who later crafted "curtain tie backs".  John sold the tie backs to major Chicago department stores including Montgomery Ward and Sears Roebuck.  With the proceeds, John bought land in Racine and built affordable 2 bedroom houses costing $1000 each.  He became famous for a "Buy one house and get the second house for 1 penny!" sales promotion.  They moved to South Florida in the 1930s.  John bought land throughout the area and built many developments such as the ever popular "Wilton Manors" in Fort Lauderdale.  The Creation of Africa U.S.A.John purchased 300 acres from the City of Boca Raton in 1950.  He then began to transform the landscape into "Afric... 11/07/2007

Active homes For Sale Mission Bay Boca Raton November 6 2007priceaddress communityBedroomsBaths469,90011201 Harbour Springs CirHARBOUR SPRINGS53419,00010984 La SalinasMISSION BAY - LA COSTA42438,00010992 LA SALINAS CirLA COSTA - MISSION BAY43289,90020970 VIA OLEANDERMISSION BAY PAR F PH32448,00011042 SEAPORT LnHARBOUR SPGS AT MISSION BAY42460,00010538 WHEELHOUSE CRMISSION BAY,REGATTA54389,00020970 Via Jasmine # 4LAS FLORES32280,00020971 VIA AZALEA # 2LAS FLORES32309,00020950 VIA JASMINE # 4LAS FLORES/MISSION BAY32395,00020950 Via Jasmine # 1LAS FLORES33399,90010570 Bexley BlvdMission Bay Regatta44445,00020914 LA QUESTA CtMISSION BAY TR H PH 0242289,00020931 VIA AZALEA # 3LAS FLORES32349,00010630 Bexley Blvdregatta at mission bay32299,00010320 COURTSIDE Lane # 10320COURTSIDE VILLAS AT MI... 11/07/2007

Why did the the bank not take our short sale offer ? Don't they understand that if they foreclose it is going to cost them much more money then if they tak this offer ? The problem with this questions is that in practical terms from the buyer investor it makes sense. But if you look at it from the bank employee perspective it is a completely different view point. In the current market bank employees are fighting to keep there jobs, especially those that are not involved in measurable positions like sales. Underwriters and REO loss mitigation personel have one motivation.... do not draw negative attention to yourself.  Therefore it is important to understand that unless there is several offers already submitted and yours is the strongest you probabbly will not get a solid counter. Howeve... 11/07/2007

That is the million dollar question in today's marketplace. Sell now or hold until the market turns around and rent until it does. A couple of key things I must point out if you decide to hold and rent. Most sellers are basing their carry on the mortgage payment, taxes and insurance and maintenance if any. What most sellers forget is once you decide to hold and rent, you will lose your homestead exemption. That means your taxes could in some cases double or even triple. To be safe on what your cost to carry really is, ask a real estate professional what your taxes would be, (estimate of course) and then re-figure your cost to carry. My thoughts are if you can cover everything including your increased taxes, it is not a bad idea. But I also believe, that if you sell today even at today's... 11/06/2007

As a mortgage broker in Palm Beach County, I am often asked to pre-approve homebuyers.  Unfortunately, in a lot of cases, I find homebuyers, especially first time homebuyers are mislead by the "teaser" rates that are advertised, and have unrealistic expectations as far a monthly payment.Buyers are looking at homes in the $300,000 range and expecting a monthly payment of $1200.  That just isn't the case. With that in mind, I have included some examples of what a housing payment would look like in a few price ranges. These examples are based on a 30 year fixed rate program.  These are estimates only. Rates could be higher or lower,depending upon a number of factors, including amount of down payment, credit history, assets and income.To find out what rate you qualify for, consult with a lo... 11/06/2007

                                                                           Boca Chase                                                                                       Hidden Lake                                                                         This beautiful Boca Chase Home is a must see!Located in the Hidden lakes neighborhood of Boca Chase in West Boca  This wonderful home is 2300 sq ft 4 perfect sized bedrooms, 2 1/2 baths, and 2 car garage. Carpet and Tile throughout newer appliances. A/C 5 yrs old beautiful lake view  This Home is perfectly priced at ..................................                          Boca Chase is a subdivision in Boca Raton with single-family homes that are  ranch and Mediterranean-style homes.Many homes in Boca Chase feature carpet and cerami... 11/03/2007

You've been thinking of buying a home, but the media reports of declining values here in Palm Beach County make you think you should wait.  Maybe you can get a better deal?? Well, there are good deals out there now.  Do your research, find a competent realtor and you can be on your way to your dream home. Sellers are willing to make concesssions and help with closing costs, which means less money out of pocket for you.Will prices continue to fall? ...probably...maybe...  There have been downturns and rebounds in the past, and real estate historically has remained a good investment over the decades. If your property declines 2% in value next year, then increases in value for the next several years, you are still way ahead of the game.Don't wait too long for that "great deal"...you may ju... 11/02/2007

There is some extremly positive news in the real estate world if you are a long term investor.Even as prices of homes for sale decline, data shows that rental prices are rising in the vast majority of markets nationwide.Two main reasons are behind higher rents.Demand for rentals from people who are either worried about buying a home that will fall in value or are hesitating to buy because home prices still remain too high. The other is a tighter lending environment that has raised the cost of ownership from what it would have been even six months agoAffordability is still an issue in many markets, where home prices increased at a double-digit pace for several years before starting to fall back in the last year. Meanwhile, incomes didn't rise nearly as fast, making owning a home particul... 10/30/2007

Want to know what's going on in the Palm Beach and Broward County real estate and mortgage market?As a mortgage broker in South Florida, located in Palm Beach County, I need to stay on top of the ever changing mortgage and real estate market so I can best serve my borrowers. This is a convenient way for me to get the latest news while I'm having my morning cup of green tea. ( No coffee for this gal..I have enough energy as it is  :) Now there's an easy way to do this without reading 3 newpapers or spending half the day on the internet.  It's called Google Alerts.  Google Alerts will send you e mail updates for news and articles on the local mortgage and real estate climate. You simply go to the website and complete the simple form using the topic of "mortgage south florida". You can cho... 10/30/2007

Estuary Dr Cape Sable Dr Buttonwood Lake Boca Vista Dr Lake Jasmine Dr Natures View Ct Sea Grass Cir If you would like any information regarding these potential short sale opportunities or if you would like some information regarding short sales for your property please contact me directly.  Jim 10/29/2007

 PonderosaThe Ponderosa community has 64 homes located on one to two-acre wooded lots, many with water views. Located on Oriole Country Road just south of Windjammer Park.              Ponderosa is a beautiful quiet West Boca community the homes in Ponderosa have some of the largest lots in West boca Boca Raton. This community is a neighborhood within Loggers' Run Master Association and owners are responsible for the Loggers' Run Master Association Maintenance Fee only. 10/29/2007

Beautiful 1/1/5 Condo close to the ocean and on the Intracoastel. Unit is tiled in the kitchen and wood floor throughout the rest of the unit. Complex is situated between the Intracoastal and A1A. 1st Floor End Unit with extended balcony, Underground Parking Garage. Overlooking the Intracoastal and Spanish River Park. Private Deeded Beach Access and Marina. Clubhouse Amenities. Community Swimming Pool. Gated Access with 24 hour security officers on patrol New Fitness Center. Great centralized location, minutes to restaurants, Publix and Mizner Park Owner is asking for First Month & Last Month & Security Deposit. No Pets Allowed. All Ages Community. Call ne at 561-542-1359 or email me at Steven.Bastian@floridamoves.com if you have any further questions about this rental. 10/28/2007