There are Fewer Underwater Mortgages Due to Rising Home Prices

(PRWEB) September 14, 2012

Mr. Nergarden issued some observations about the rising home prices and concurrent drop of the number of underwater mortgages today, and his opinion is that this will help home sellers because it means that more people can start selling your house online and upgrade to a new one without losing money. More money and available buyers is useful for any real estate broker marketing as well.

The Los Angeles Times reports on data from Corelogic that indicates that the number of underwater homeowners has dropped from 23.7% to 22.3% from the first quarter of 2012 to the second quarter. This is a significant drop and takes nearly a million homeowners out of negative equity. Along with that, another 1.8 million homeowners were only slightly underwater with their home values 5% less than the debt owned on the property. This is taken as a sign that recovery is happening, but not as strongly as it would be if hiring was more robust. Even with all of this positive news, many states, such as Nevada and Florida as suffering from extremely high rates of underwater homeowners.

Corelogic is a research and data firm that works mainly in the areas of finance, properties and consumer information. Along with providing business information to client businesses, Corelogic does their own research, tracking trends in several fields, including real estate and mortgage trends over a period of time. Within Corelogic itself, there are three divisions, one in charge of business and information services, one in charge of data an analytics, and the last in charge of employer, legal, and marketing services.

Nevada, particularly in the Las Vegas area, has suffered greatly from the current economic crisis. Before the collapse of the housing market, Las Vegas was booming, particularly in the construction industry. When the market fell, many people discovered that they were underwater with their homes. The latest numbers show that 59% of all homeowners in Nevada are underwater, the largest rate of underwater homes in the country.

Florida has a high rate of underwater homeowners at 43%. This is due to a number of factors, including a high rate of homeowners insurance resulting from frequent hurricanes. This has contributed to a high rate of mortgage delinquency and a high number of homes on the market. Construction was also high during the boom period, and when the housing market collapsed, there were several hundred thousand new homes that had not been sold.

Real Estate Marketing Insider today commented on the higher home prices and fewer underwater homeowners in the United States.

About Real Estate Marketing Insider:

Real Estate Marketing Insider is a publication based in La Jolla, California. The primary goal of REMI is to provide real estate professionals everywhere with hot tips, strategies, and analysis.

Is There Any Financing out There for Restaurants?

(PRWEB) September 18, 2012

Obtaining financing can be challenging for restaurateurs. “It’s very difficult, because it isn’t an industry that banks love. In fact, it is near the top of their NO list,” says Richard Santore, Vice President of Bielat Santore & Company, the Allenhurst commercial real estate firm that deals almost exclusively with the sale and financing of restaurants. “If you dont know how to maneuver through the maze of financial requirements a bank is looking for, you will never find your pot of gold.”

Bielat Santore & Company has been working with the same bankers for nearly three decades. We know what they are looking for, we understand their requirements and we present them with a professional presentation that addresses all of their concerns. It is an acclaimed statement that our firm has never failed to fulfill the funding requirements of our clients. It is also true that prior to undertaking the challenging task of securing restaurant financing, our professional team vets the client and its needs, recommends the most pragmatic course of action and quarterbacks the entire funding process, continues Santore.

There are several different options a restaurateur may want to explore. Bank financing guaranteed by the SBA (Small Business Administration) is the most likely possibility, especially for first time restaurant buyers. Commercial banks are more apt to lend to qualified restaurateurs under the government SBA program because the SBA guarantees 75% of the loan amount. Bielat Santore & Company aligns itself with preferred SBA lenders, meaning those banks that have achieved the preferred status with the government and can approve a loan absent of the routinely lengthy SBA approval process. Loan amounts can be up to $ 5,000,000 and have payment terms of up to 25 years when real estate is involved.

Other options employed by the firm to fund projects are limited partnerships, syndications, seller financing, installment sales and lease/options to name a few. With all of the above avenues of financing, the applicant restaurateur must be qualified. Amongst other prerequisites, both lenders and investors usually hold high at the top of their check-lists:

1. the experience and creditworthiness of the applicant;

2. the value of the collateral pledged by the applicant; and

3. the ability of the business to pay back the loan or investment.

Bielat Santore & Company has secured in excess of $ 500,000,000 in financing for its clients. To inquire into buying a restaurant and/or obtaining restaurant financing, visit the company website,, or call Richard Santore directly at 732.869.4200.

42,000 Condo Hotel units Under Construction/Conversion in The USA But Is there Enough Mortgage Money to Fund the Boom

Birmingham, MI (PRWEB) November 6, 2005

Vacation Finance is the first National Mortgage Lender to capitalize on the condo hotel mortgage market niche. By initiating unique condominium lending program at condo hotel projects, with no minimum square footage or kitchen requirement.

“We understand why buyers choose a condo hotel for their vacation home, and it has less to do with square footage than with amenities, service and location. We believe that Condo Hotel and resort/fractional/timeshare second homes options will be a wave of the future, embraced by retiring baby boomers as the retirement residence of choice. These options are the most flexible and financially efficient ways to enjoy vacation/retirement ownership, and has all the benefits of a traditional second home, with less expense and hassles,” said Bob Waun, CEO to the group of development experts.

Condo Hotels are one part full-service hotel/resort, and one part traditional luxury condominium. Condo Hotel owners enjoy full residential ownership rights and rental income without the effort of rental management.

Vacation Finance executives have published an extensive research paper on the subject “Condo Hotel: 2nd Home Choice of The Baby Boom Generation.” The company has also signed co-branding agreements with 2 major Condo Hotel Developers to provide unique lending services.

Vacation Finance and its strategic partner, ReFund, LLC have arranged $ 4.75 million mezzanine capital for condo hotel projects in the last 3 months, expanding its commitment to this new market, and approved over $ 20mm in end mortgages in this same period. Vacation Finance Risk Management is the first US lender to offer a TRUE condo hotel consumer insurance policy. Vacation Finance Commerical is actively working with condo hotel developers providing acquisition and construction financing.

Vacation Finance also recently announced the opening of offices in Florida to better serve this booming vacation home market. “We plan to strategically expand in all the best vacation markets, but since money is fluid and portable, we will stay very virtual – investing in people not bricks and mortar” said Waun.

With new condo hotel projects in almost every highly desirable resort market, Condo Hotel construction and conversion is a real estate trend. Vacation Finance is a wholly owned division of Americor Financial Services, founded in 1987.

For more information contact:

Sara Hansemann, Vice President – Operations

(248) 816-7245


Though The Housing Recovery is Weaker Than it Could be, There is an Increasing Amount of Jumbo Loans

(PRWEB) August 29, 2012

Tobias Nergarden issued some observations about the effect of jumbo loans on the housing recovery today, and his opinion is that this will help home sellers and generate real estate leads as well as buyers, such as those looking for beach front vacation rentals to invest in.

The Wall Street Journal reports on the increasing numbers of jumbo loans in the real estate market, which a strong sign of recovery, even though the market itself is only recovery slowly. These jumbo loans are loans that are not covered by the federal government, and therefore have a higher interest rate. In spite of that, these types of loans are making up 15% of all mortgages for Bank of America. Other lenders, like Wells Fargo and Citigroup are also reporting a rise in jumbo loans. This is considered a strong sign of recovery because it means that the current strict lending standards may be relaxed and jumbo loans are usually used in high end luxury homes, which are selling more now than they have in the last few years.

Bank of America is one of the largest corporations in the world, and is involved in regular banking as well as investment banking. A large component of their business involves mortgage lending, as they are the largest lender in the United States, controlling roughly 25% of all loans. This happened after they acquired Countrywide Financial in 2007, which had previously been a major player in the mortgage business. Bank of America received a large amount of Federal bailout money from the TARP program, but in 2009, announced that it had all been paid back.

Wells Fargo is a large financial institution in the United States and is heavily invested in the mortgage business, with nearly a quarter of home loans under their purview. After the 2008 financial crisis, Wells Fargo was the recipient of money from Federal government bailouts, and afterward, paid a large amount of dividends to the U.S Treasury and taxpayers.

Citigroup began in 1812 in New York as Citicorp, a bank set up for New York merchants. Since then, it has merged with other organizations, such as Travelers group, to become a major financial institution on a global scale. Citigroup was heavily damaged by the subprime mortgage crisis and required a substantial bailout from the Federal government. Because of a prominent position in European finance, it has also suffered from the European debt crisis. Because of the bailouts, a large portion of the company is owned by the U.S. government.

Real Estate Marketing Insider today commented on the rise in jumbo loans, which are a sign that the real estate market will eventually see a bigger recovery than it has to this point.

About Real Estate Marketing Insider:

Real Estate Marketing Insider is a publication based out of Las Jolla, California. REMIs primary objective is to provide a wealth of strategies, tips and analysis for real estate professionals everywhere.

Related Real Estate Money Press Releases

Housing Crisis? What Housing Crisis? According to Avanti Way: in Miami There Are Now More Transactions Closing Than During The Boom

Miami, FL (PRWEB) July 02, 2012

As the news of Tom Cruise and Katie Holmes divorce rocks our pop culture world, to Avanti Ways Lead Capturing Department, divorce is just one of the many reasons that people decide to sell off their primary home. But compared to the devastating housing crisis of a few years ago, at least in Miami, its a great time to put your house on the market, whatever that reason may be.

During the height of the boom there were about 26,000 to 27,000 transactions which is nothing when compared to the 29,000 to 30,000 transactions that occurred between 2010 and 2011.” Explains Enrique Teran, Co-Founder of Avanti Way, who publishes a yearly Investment Report for their Investor-focused Property Management division. “Of course, back in the boom about 90% of those were financed, while cash deals are taking up up a good 70% of the market share right now most of it coming from South America.”

In addition, if we factor out all those phantom pre-construction sales that inundated the market in 2006, adds Andres Korda, the second Co-Founder of Avanti Way, we actually have a lot more transactions than during the boom years. Thats an amazing fact that simply boils down to this: at least here in Miami, the market is really bouncing back.

It’s actually a seller’s market in some parts of South Florida, continues Teran, perhaps not in the way it was during the boom with buyers paying thousands of dollars above appraisals, but most sellers are getting multiple offers, most at or above asking price.

This fact is further supported by’s market research, which states that Florida is now in the 3rd step of housing market recovery. According to the site, the three steps are 1) new listings decline, 2) days on market decline, and 3) the ratio of sales price to original list price increases. Their statistics claim that in May 2012, sellers actually received 91.1% of the asking price for single-family homes and 91.6% for condos – a healthy forecast indeed.

In the end, regardless of the market, admits Korda, There will always exist reasons for people to sell or buy real estate: a new marriage, an expanding family, a job change, and then of course, theres always divorce.

Avanti Way’s Leads Department has an entire team dedicated to the sole task of screening all those buyers and sellers, whatever their reasons might be, and then passing them on to their tech-savvy sale force. Its no secret that the companys ambitious goal is to change the industry one innovation at a time, and teaching their team to keep a reality check on the ever-changing marketplace is what sets apart a true Real Estate Entrepreneur.

Weve had over 20 newly licensed agents join us in the past 2 months alone. The words getting out that its a great time to get back to Real Estate. Ends Teran, and with Avanti Ways patent-pending Technology, amazing training and support, its no surprise that so many of them are now doing Real Estate, the Avanti Way.

For further information about Avanti Way, please contact Gloria Rodriguez at (305) 229-1146, visit or