Ideal for a family
• 2,091 sq. ft., 2.5 bath, 4 bdrm 2 story - $359,000
Camino del Mar, Toa Baja - Gorgeous two story house at Camino del Mar, Toa Baja, PR. This phenomenal listing consists of four bedrooms and two and a half bathrooms. In addition, this propperty provides a spectacular recreational area in backyard with its own large terrace, swimming pool, an outside shower, a full outside bathroom, not to mention a tool shed (room) and a room which can be used as an office. This Exclusive, gated, beach front residential complex houses a basketball and tennis courts, playgrounds, club house and a water (lagoon) access for jet skis and others. Community also offer a school bus stop for Buchannan school students. The ideal place to raise a family. Call for a showing.
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Real Estate Outlook: Promising Numbers
by Kenneth R. Harney
The good news keeps rolling in about the small but important turnaround underway in the home real estate market.
Last week's headliner was the second straight monthly gain in pending home sales -- up nearly 11 percent in the Northeast, 15 percent in the Midwest, and 4.4 percent in the Southern states. Only the Western region saw a decline at 13.5 percent.
On top of that, the ability of consumers to buy a house, as measured by the National Association of Realtors' Affordability Index, hit a record new high last month thanks to declining home prices and record-low mortgage rates.
To put it bluntly: Median priced houses haven't been more affordable to more households in decades!
Mortgage rates continued to drop last week -- even from the record lows the week before, according to the Mortgage Bankers Association. Thirty year rates now average just 4.6 percent and 15-year fixed loans average 4.45 percent with about a point.
Not surprisingly, applications for new mortgages to buy houses and condos jumped again for the third straight week -- up about 1.4 percent for FHA loans and one percent for conventional mortgages.
Lawrence Yun, chief economist for the National Association of Realtors, agreed that the pending home sales and affordability numbers are promising, but he said the market still has a ways to go before it's really at rebound stage.
He also noted reports by realty firms of higher numbers of shoppers visiting open houses, checking online listings and following up with agents. Those "recent increases in shopping activity," he said, "are hopeful indicators that we'll see some additional sales gains" in the weeks ahead.
Meanwhile, there were other positive economic signs popping up like spring daffodils. For example, both the major indexes that measure consumer confidence, which is a key driver of home buying, were up slightly in the last month. The University of Michigan's survey and the Conference Board's index both registered small gains. Both, however, remain at low levels in comparison to non-recession periods in past years.
And consumer spending registered a small increase, up by seven tenths of a percent in the last month. Personal income was up slightly as well.
All in all not a bad set of reports in the middle of an economic recession and financial crisis.
That doesn't mean happy days are here again, but they do point to much better days for real estate as we proceed through the year.
Published: April 7, 2009 Realty Times
Gorgeous view to Marina
• 1,192 sq. ft., 2 bath, 3 bdrm apartment (with 2 parking space) - $210,000
Costa Marina I, Carolina - Spectacular view to marina and city. Extra Realty, Inc. showcases this remodeled sub-penthouse apartment with balcony in Costa Marina ,Carolina, PR. Gorgeous view! Threee bedrooms and two bathrooms with two parking spaces close to entrance and lobby. Call for more information or appointment.
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Apartamento de esquina Condominio Club Costa Marina, Torre I, Ave. Galicia (final), Carolina, Puerto Rico, 3 cuartos, 2 baños, 2 estacionamientos, tormenteras, screens, rejas, estufa, lavadora, secadora, calentador de línea, 3 aires acondicionados
Vista a los canales, facilidades de piscina y áreas recreativas.
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The Obama administration's latest plans to bring relief to the financial markets have been dominating the news from Washington, but it's far from clear whether they'll actually produce more money for people to buy houses.
Here's why: Although the Treasury's and FDIC's programs almost certainly will help major banks clean some of the toxic suprime mortgages and commercial real estate securities out of their portfolios, that doesn't mean the banks will turn around and extend new mortgages to consumers.
That's because there's no "quid pro quo" in this program. The FDIC and Treasury are essentially helping banks sell off loan pools and securities at discounts to private investors and "public-private" joint-venture funds, but there's no requirement that the banks do anything in particular with the money.
Banks can take the sales proceeds and simply use them to bolster their capital positions. They can also wait for a higher price and sell nothing.
Of course there is a chance that some banks will take the money and plow it into parts of the mortgage market that really need it at the moment, like jumbo mortgages in high-cost housing areas throughout California, in Florida, Washington, D.C., the New York metropolitan and New England.
The Bank of America is leading the way on the move into jumbos -- loans above $730,000. Even without selling its own toxic mortgage assets, it has begun making an aggressive push into big home loans -- offering up to one and a half million dollar mortgages to borrowers with good credit and minimum 20 percent equity. Fixed interest rates are in the high five percent range.
You might ask: why would sophisticated investors have any interest whatsoever in the "bad" loans and securities on the banks' books? Why would pension funds want to buy somebody else's garbage? Here's why. Because those assets are better than garbage. Subprime mortgage backed securities and loan pools owned by the banks might have high rates of default and foreclosure: say 30 percent to 40 percent.
But that means 60 to 70 percent of the borrowers in these securities are still paying on time. The cash flows produced by those borrowers are worth something. And some of the delinquent borrowers may be salvageable through loan modifications and rate reductions.
How much will investors pay for these damaged goods? Since there's a lot of federal guarantees involved in the whole program -- and private investors won't need to put up a lot of equity -- the Obama administration hopes they'll pay whatever is necessary to get the banks to sell.
By Realty Times
Mansiones de Villanova, Rio Piedras - Announcing a price reduction on Mansiones de Villanova, a 2,807 sq. ft., 2.5 bath, 4 bdrm single story. Now $750,000 - .
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Gorgeous Ocean View
• 605 sq. ft., 1 bath, 1 bdrm apartment - $219,000
Cond. Costamar, Isla Verde - Gorgeous ocean front/view, one bedroom apartment for sale at Condominio Costamar in Punta las Marias. Imagine yourself enjoying a comfortable ocean breeze while admiring the phenomenal ocean view from living room, Kitchen and bedroom. If you’re looking for a reasonably priced ocean front apartment, this is it.
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The plan includes a number of initiatives to jump-start the local economy. Among them are:
- $180 million to guarantee loans to small and midsize businesses at risk of reducing employment or closing operations for lack of liquidity. The program will be managed by the Economic Development Bank and is expected to provide loans of $5,000 to $250,000 and benefit more than 7,600 local businesses.
- $125 million for infrastructure development and capital-improvement projects in all municipalities, with $100 million managed directly by the municipalities.
- A $300 bonus for everyone whose annual income is less than $20,000 and filed a return for the 2008 tax year. This plan should benefit more than 106,000 pensioners.
- A program to assist homeowners in danger of losing their residence because of a job loss or their income was reduced 20% or more. Through the program, homeowners would be able to have their monthly mortgage payments reduced, whether through an interest-rate reduction or an extension of the terms of the existing loan. Some 5,000 families are expected to benefit from this measure.
- A $24 million contribution to establish a $240 million fund with the private sector to assist eligible families to obtain $25,000 toward the acquisition of a new home or $10,000 for an existing home . The money would be used as a down payment and would be obtained through a second mortgage, on which homebuyers wouldn’t make payments on the principal or interest for the first 10 years. Through this initiative, some 8,000 families would be able to acquire a new home and another 4,000 an existing home.
- A $68 million fund to provide interim construction financing aimed at low-cost and social-interest housing. This fund should help in the construction of 6,500 social-interest homes.
- The Criollo Economic-Stimulus package assigns $15 million, in addition to the $40 million provided from the federal stimulus package, for job relocation and retraining.
- Legislation to foster the use of Public-Private Partnerships for the development of infrastructure projects and to improve services rendered by the government. Through this partnership, the government would seek greater private-sector investment in infrastructure so government agencies could dedicate more of their scare resources for better direct services to citizens.
- Payment of $750 million to government suppliers, in addition to the $485 million already paid to bring payments up-to-date for special education teachers, therapists, school transportation and other suppliers who were waiting to be paid for services rendered. Debt to government suppliers was more than $1 billion.
Reposeida
• 950 sq. ft., 1 bath, 3 bdrm single story - $95,000 - OBO / OMO
Caparra Terrace, San Juan - ***REPOSEIDA*** Esta es tu oportunidad para conseguir tu hogar a un bajo costo. Cerca de escuelas, avenidas comerciales, transportacion publica y Expreso Las Americas. Marquesina para dos vehiculos, amplio patio y un comodo balcon hacen de esta propiedad una excelente inversion. Consta de tres habitaciones, 1 baño completamente enchapado, sala/comedor, un area de laundry y un family room convertible a otra habitacion. Necesita algunos arreglos. LLAMA PARA UNA CITA.
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Gorgeour Ocean View
• 700 sq. ft., 1 bath, 1 bdrm apartment - $1,300 USD Monthly
Condado, San Juan - Fantastic OCEAN VIEW apartment for rent (long Term) at Condado Real in Condado, San Juan, PR. One bedroom, one bathroom, one parking space and balcony. One block from one of Puerto Rico best beaches, Ocean Park beach. This listing should not last much in the market. Call for an appointment now.
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Excelente precio
• 915 sq. ft., 1 bath, 3 bdrm apartment "Apartment" - $65,000 -
Cond. Torres de Cervantes, Rio Piedras - "REPOSEIDO" Apartamento de 3 cuartos y 1 baño en una ubicacion estrategica. Cerca del puente Teodoro Moscoso, 65 de Infanteria, escuelas, shopping malls y otras areas comerciales. Condominio ofrece amplio estacionamiento para visitantes, canchas de baloncesto, area de juegos para niños y seguridad 24hrs. El apartamento necesita ciertos arreglos. El vendedor ofrece el tres (3) porciento del precio de venta para los gastos de cierre. Esta oferta expira el 15 de noviembre de 2008.
LLAMA AHORA PARA UNA CITA.
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True ocean front ellegance
• 15,000 sq. ft., 7 bath, 7 bdrm 2 story - $8,400,000 (click on pic for more details)
Casa De Campo, La Romana, Dominican Republic - Casa de Campo. Located in south eastern Dominican Republic, just outside the city of La Romana, Casa de Campo, is the “Caribbean’s Most Complete Luxury Resort.” An exclusive, award-winning, world class resort with over 7,000 acres, and four golf courses, its elegant neighborhoods are surrounded by outstanding luxury facilities to provide pastimes for virtually every taste.
Casa de Campo was voted “Number 1 Family Friendly Resort in the Caribbean” by Travel & Leisure magazine, as well as the “Best Golf Course in the Caribbean” for the second consecutive year, by T&L Golf magazine.
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The NATIONAL ASSOCIATION OF REALTORS® Code of Ethics:
What Does it Mean for Consumers?
How does the Code of Ethics affect everyday real estate practices? If a REALTOR®
represents you, whether you are buying or selling a home, you can count on that REALTOR®
to:1. Be honest with all parties in the transaction – not just with you, as his or her client, but also with the other real estate practitioner and his or her clients.For example, if REALTORS®
represent a buyer with a spotty credit history, they can’t be dishonest with sellers about this fact. At the same time, REALTORS®
can help their buyer clients collect and assemble information, such as credit reports and audited tax returns, to demonstrate that the buyer has addressed the problem and improved their situation.2. Put your interests ahead of his or her own, at all times. A REALTOR®
makes every effort to understand the housing needs of his or her client, thoroughly researches available inventory, and shares all relevant information with the buyer so that he or she can make an informed decision. This service is provided regardless of the compensation available.3. Disclose all pertinent facts regarding the property and the transaction to both buyer and seller.If a REALTOR®
believes information provided by a seller is questionable, the REALTOR®
is obligated to investigate. REALTORS®
should recommend that buyers consult their own experts, such as home inspectors, to address concerns. For example, if a home seller asks his or her REALTOR®
to conceal the fact that the roof leaks, the REALTOR®
cannot comply; if the seller insists, the REALTOR®
should end the business relationship with that seller. 4. Be truthful in all communications with the public.When REALTORS®
distribute newsletters, create Web sites, or place advertisements, they must be careful not to represent other real estate professionals’ work product as their own. If recently sold or listed properties in the community are publicized, it must be clear whether the REALTOR®
was actually involved in the transaction, or whether that data came from the local multiple listing service or other source. This ensures that the public understands the REALTOR®
’s experience and can make an informed decision when choosing real estate representation.
Lower floor- No stairs to climb
• 3 bath, 3 bdrm apartment - $900 USD Monthly (needs TLC)
Isla Verde, Carolina - Yes, $900.00 per month at Park Plaza in Isla Verde, PR. Second floor apartment consisting of three bedrooms, three bathrooms and one parking space. Tenants have access to swimming pool, half a basketball court and direct access to a wonderful beach. Normally renting above $1,400.00, beacause the apartment needs some TLC, owners are allowing this unit to rent for only $900.00 /month. Great opportunity to enjoy Isla Verde at a bargain rent.
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FORECLOSED
• 2,040 sq. ft., 1 bath single story - $229,900 - OBO / OMO
Puerto Nuevo, San Juan - Great opportunity to adquire a Foreclosed Commercial property in one of the busiest commercial avenues in the area. Currently divided into 7 offices sharing one bathroom and a dinning area. In front of a Public School and minutes from Martinez Nadal and Las Americas Expressways. Needs TLC. A must see!!! OFFERS WELCOMED .
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Comunidad Prado Hermoso, Ceiba - (FOR ENGLISH, PLEASE CALL) Anunciando la presentacion de nuestro uevo listado para la venta en Ceiba, Puerto Rico. La misma consiste de 3 habitaciones, 2 baños en casa terrera. Precio de venta $90,000 - .
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