Month: January 2018

Mortgage Insurance for Condominium Units (Section 234(c)) program assists potential homeowners in purchasing a home in a condominium development. The prospective condominium must be the potential homeowner’s primary residence.

The intent of this federal program managed under the U.S. Department of Housing and Urban Development (HUD) is to insure the loan of a borrower who buys a unit in a condominium property. HUD does not directly provide loans to borrowers. Instead, HUD insures loans through FHA-approved lenders. Some of those who take advantage of the program are low- to moderate-income renters who want to buy their unit in order to avoid displacement when their apartment building is converted into condominiums.

Some aspects of the program are as follows:

*Program insures the loan up to 30 years.
*Condominium development must be separated into a minimum of four dwelling units – can be a walk-up, a rowhouse, semi-detached or an elevator structure.
*Loan is made by a certified HUD lender.
*To be eligible, you must prove creditworthiness and meet FHA underwriting criteria.
*Down payment may be as low as 3 percent or less – FHA insurance enables homeowners to finance around 97 percent of the home’s cost through the home loan.
*Some closing fees may be included in the loan, reducing up-front cost.
*FHA limits certain fees charged by lenders – e.g., loan origination fees.
*FHA limits the amount of the home loan based on the locale of the condominium and number of units being bought.

Some restrictions do apply to the program. FHA will not insure loans under this program for rental units converted to ownership except as follows:

*Units were converted over a year prior to loan application.
*Potential borrower or co-borrower was a tenant of one of the converted units.
*Property conversion is sponsored by a tenant’s group that represents the bulk of households in the development – 80 percent of FHA-insured home loans must be for owner-occupants.

In order to get started, you need to find a FHA-approved lender. You may do so by contacting lenders and asking them if they are FHA-approved or by conducting a search on the HUD website. Either way, you’ll want to shop around for a reputable lender with a good interest rate and low closing fees.

Compare rates and fees, and use the following as a checklist to compare lenders:

*How much is the lender charging for the interest rate and origination fees?
*Is the lender approved by FHA for your local area?
*Do you know the lender’s reputation?

Ask plenty of questions and keep the following in mind:

*Interest rate is not regulated and points are not set by the FHA.
*Before signing any agreement, understand that you are responsible for negotiating with your lender regarding the terms set for the loan, to include routine and reasonable closing costs required to close on the loan.

Property developers who intend to finance the construction or renovation of properties they intend to sell as units under this program may also obtain FHA-insured mortgages.

For more information, visit the HUD website or contact your local lender.

Situated on the south end of Longboat Key, the beachfront condos of Sunset Beach offer sweeping views up Longboat Key all the way to Lido Key. In addition to the amazing views, residents of Sunset Beach at Longboat Key enjoy living in a community that is relatively low-density that features a number of very alluring amenities.

With only 65 units found in three buildings, residents of Sunset Beach enjoy the peace of mind of living in a gated community featuring covered parking. Other amenities enjoyed by residents of Sunset Beach at Longboat Key include a heated swimming pool, a spa/hut tub, elevators and access to the beach.

With a minimum lease requirement of two months, those who are interested in temporary vacation housing or temporary housing for any other reason may set their sights upon Sunset Beach at Longboat Key. For those who wish to stay longer, on the other hand, Sunset Beach also offers leases for up to three years. As such, there is certain to be a leasing option available to suit just about anyone’s needs – from vacationers to those who want to remain in the area for years, Sunset Beach is an excellent option to consider.

In addition to the many amenities offers to residents and the flexible leasing options, the convenient location of Sunset Beach at Longboat Key is another reason so many are interested in calling this complex home. While everything is located relatively nearby on this 11-mile-long island, Sarasota and St. Armands Circle are also located just a few minutes away. Here, residents can take advantage of a wide variety of shopping and dining opportunities. Of course, due to the fact that Longboat Key is surrounded by the beautiful blue waters of Sarasota Bay and the Gulf of Mexico, residents of Sunset Beach also have ample opportunities to enjoy a variety of different water sports and other activities. Some popular water-based activities available throughout Longboat Key include boating, sailing, fishing, water skiing, fishing, snorkeling and more.

With so many recreational opportunities available throughout Longboat Key, there is a seemingly endless variety of ways for residents of Sunset Beach to pass their time. Thanks to the magnificent views and excellent onsite amenities available to residents of Sunset Beach, on the other hand, residents don’t have to go far to have some fun or to simply relax as they take in the amazing views.

There are a number of new houses for sale Philippines today that allows more Filipinos the freedom to choose which type of house best suits their needs. Most of these new types of houses are found in housing communities mostly owned by big corporations. However, though the number of new houses available across the Philippines, particularly in Metro Manila and neighboring provinces, have grown significantly, it is still not as popular as other types of housing, such as condominiums.

Condominiums are considered in the Philippines today as the most popular type of housing. Part of what made these new types of housing popular and in-demand across the country is because of a number of benefits that other types of housing, such as houses, lack. One of which is location. However, the reason why houses have continually grown in a market dominated by condominiums is because these types of housing do have its own advantages that condominiums, or any other types of housing, lacks.

Disadvantage of condominiums, advantage to houses Although condominiums are the most advantageous type of housing in the Philippines, there are still a number of reasons why these new houses for sale Philippines are still popular. One of which is that condominiums are too expensive for the common Filipinos.

According to many Filipinos and experts, those condominiums are mostly only for the wealthy, particularly those condominiums found in areas around business and commercial districts. Many have even said that the cost of a single unit in these condominiums is enough to buy a two-story house in Caloocan City or in major parts of Quezon City.

Although there are new condominium units which are far cheaper than those types of condominiums, there are still a number of reasons why these new houses for sale Philippines are still in-demand for many Filipinos. One is that the price range of these cheaper condominiums is similar to these new houses. However, these houses offer more space compared to these cheaper condominiums.

Similar to amenities Another reason why these new houses became popular is that a number of housing communities around Metro Manila is known to provide the same type of amenities that condominium complexes became popular with, such as swimming pools, parks, and playgrounds. The advantage of these housing communities, however, is its affordability compared to condominium complexes.For more information visit to our site at http://www.atayala.com

With the cost of living rising, many potential homeowners are seriously considering condos and apartments as an investment for their future. I have personally lived in a condo for over 10 years. Condo and apartment living can be very rewarding and can make you feel very secure, but these units can also become a nightmare especially if you live in a lower unit and are forced to tolerate the noisy walking from the neighbors above. When contractors build these units, soundproofing is probably not their top priority, but it should be. There is nothing worse than to spend your life savings on a home only to find out that you are unable to sleep due to the constant walking noise from the people above. I have had customers tell me that they feel as though their upstairs neighbors are right in their bedrooms as they hear the intense thumping and impact from the floors above.

Many times condo and apartment owners take it upon themselves to put in a wood or tile floor in an upper unit and fail to put down the proper soundproofing beneath their new floors. This has been the focus of many lawsuits between neighbors and makes condo life an absolute horror for the people living in lower units. Before installing any new flooring in a condo or apartment, check with your condo association and find out what the guidelines in the CC& Rs are for the installation of such a floor.

Contractors need to contact a soundproofing professional during the planning stages of any multi family dwelling. A soundproofing expert can suggest products that will dramatically reduce the impact as well as airborne noise from upper units. Adding these materials during the construction phase protects both the contractor and the potential buyers of these units. Products such as recycled rubber tiles can reduce impact noise transmission by up to 75. The addition of the proper soundproof floor underlayment can make all the difference in the world to a person living in a lower unit. The additional expense for these material is money well spent and can save the contractor many headaches and many lawsuits down the line.

Soundproofing companies such as Soundproofing America, Inc, Soundaway Corporation and Acoustical Surfaces, Inc. can provide contractors with effective soundproofing solutions for any multi family application.

Finally, before purchasing a condo or apartment, check out the floor construction and make sure that a soundproof floor underlay has been installed under any hard surface floor that has been installed in the unit above you. This can save you a lot of time and expense and will keep you from making a bad mistake that can take you literally years to rectify. Thanks for reading. This is Dr. BobOut!!

www.geylangcondo.com For those who’re out there to have a model new house, you would have reached realise there are many strategies you to make the choice from and condominium is true this moment the one hottest decisions amongst howowners. A condominium for anyone who will not be already conscious of what exactly it’s could geylang condominium be a large building which in turn comes fully secured with every little thing that you’ll would like for use by yourself dwelling consolation. These buildings are normally then broken straight into smaller units that can provide house like properties for that folks residing inside it.

Even younger people will typically profit from actual estate possession. It lands them ahead of different young people their age financial by serving to with enhancing their credit and offering them what is often an wonderful funding. Often these younger homeowners will lease the rooms out, and his or her roommates serving to in paying the mortgage mortgage for the house. When younger owner is prepared to move on, he or she can sell the property typically creating a profit or she or he can hold it as an funding for passive revenue and continue to lease it out.

Quite a lot of buyers believe that the abundant global liquidity environment could blunt and even counter the decrease in Singapore actual property value. Now we have already witness the 2011 New Yr rally within the Straits Instances Index, hence should one imagine that the share market is an indicator that leads the property market, then we could geylang condo investment see actual estate value will rebound in the upcoming quarters. Anecdotally, property launches for the mass market are still going strong plus Singaporean’s local investors’ appetite for real estate is still wholesome even as the Further Purchaser’s Stamp Obligation has kept some oversea purchasers away.

In a property analyst’s record of high 30 cities for direct non-residential actual property buy from 2010 till third quarter 2011, Singapore takes the sixth spot, raking in about US$15 billion influx of investment in this period. Direct non-residential real estate funding includes of retail, office, resorts, industrial plus combined-used properties but excludes raw land, residential actual estate and all purchases which is less than US$5 million. The newest anti-speculation insurance policies within the residential market might end in buyers in turning their focus to the industrial market, especially to multi-person manufacturing facility house and excessive-tech buildings.

So you intend to purchasing & promoting rapidly for a profit in your actual esate, then you should use a property agent. Do not attempt to get your property offered by yourself. Harness the ability of an actual estate agent and the facility of the MLS system. If you do a For Sale by Proprietor, you’re relying by yourself restricted sources, with a real property agent you’ve got some one actively selling your actual property to promote it. As soon as once more this could unlock extra time so that you can look for other nice actual property funding. more info

One of the best types of housing in the Philippines today according to many real estate experts as well as Filipinos is condominium. Part of the reason why condominiums became a very popular type of housing in the country is because of its benefits, particularly those that conform in today’s modern trends such as accessibility as well as its family-oriented environment.

However, these benefits are offered separately in two different types of modern condo in Philippines. These include the condominiums mostly found in business and commercial districts, as well as condominium complexes, which are normally found in the outskirts or even in the provinces.

Condominiums in the City The first condominiums are said to have been found in the city, and the reason why it became so popular is because of its accessibility to workplaces as well as popular entertainment areas such as malls. Because of this, condominiums became very popular among many Filipinos living in a fast-paced lifestyle, allowing them to make use of its accessibility to easily get home from work or get to work from home.

Because of this, the numbers of condo in Philippines have significantly increased due to the huge demand by many Filipinos, which led to another advantage, which is its availability. However, there is one disadvantage of living in these types of condominiums. One is that many Filipino families found these types of condominiums unsuitable of their growing family.

The reasons why these types of condominiums became unsuitable is because of its location, which is found in the busiest districts of the country, such as in Makati City or in Ortigas Center, Pasig City, even though these condominiums can still offer the privacy and peace that residents are looking for.

Another is that these types of condominiums lack the necessary facilities to accommodate the needs of a growing children, such as parks and playgrounds, which allows them to play and grown safely. Because of this, a new type of condo in Philippines was introduced in the Philippines which offer the kinds of modern facilities and environment in which many modern Filipino families are looking for. This is with condominium complexes.

Condominium for the Family Condominium complexes are similar with townhouse complexes in many aspects. One is that, similar to townhouse complexes, condominium complexes are mostly found in the outskirts, while some are even found in the provinces such as those found in Tagaytay or in Cavite.

Because of its location, along with its wide open spaces, these types of condominiums are known to offer their residents the environment suitable for their growing family. However, other than its family-oriented environment, condominium complexes are also known for its amenities.

Similar to townhouse complexes, condominium complexes are also known for its amenities include swimming pools, gyms, recreational parks, and playgrounds in which residents can exclusively enjoy with their family.

There are, however, a number of disadvantages to living in these types of condominiums. One is because of its location, which is far from the city, making it harder for Filipinos to get back to work without having to go through the hassles of rush hour.For more information visit to our site at http://www.avidaland.com

According to many Filipinos, one of the best types of housing available in the Philippines today are condominiums. Part of what made these types of housing popular, according to many real estate experts, is because of its benefits which conforms in todays modern lifestyles. So what are these benefits?

Benefits of living in a Condominium Many Filipinos consider condominiums as one of the most modern types of housing in the Philippines, particularly because of its benefits. One in particular is its accessibility to key points of a city, such as a business and commercial district.

Because of todays modern and fast-paced lifestyles, many Filipinos are looking for a type of housing which they can easily access from their work, or where they can easily access their workplace. And because most condominiums are found in business and commercial districts, such as the many condo manila, many Filipinos finally found the kind of refuge that can offer them the necessities they are looking for, which is accessibility.

According to many real estate experts, many condominiums are normally found in the heart of the business and commercial districts. Because of its location, residents were given the luxury to live within walking distance or mass transit distance from their workplaces as well as popular entertainment or “hang-out” areas such as malls.

In addition to its location and accessibility, condominiums are also known for its maintainability. All types of condo manila are known to hire their own maintenance personnel which oversee the maintenance of all facilities found in the condominium, from garage to hallways as well as cooling systems and elevators.

Because of this, residents would only have to mind their own unit, allowing them more time to focus on other important matters. Another is its security personnel who assure the safety of their residents.

Although found in the busiest districts of the country, these condo manila can still offer their residents the privacy and peace in which residents are looking for in a home. And according to many Filipinos, the view of whole city from a higher condominium can be stunning, particularly at night.

Disadvantages of Condominiums There are, however, several disadvantages to living in a condominium such as those mentioned. One is that these condominiums are not suitable for a growing family, particularly for growing children. This is because there arent enough facilities to accommodate their needs such as wide open spaces for running as well as playgrounds.

Another disadvantage, according to many Filipinos, is its condo fees. Other than the bills paid monthly, such as electric and water bills, residents are also obligated to pay a monthly fee for the maintenance of all facilities found in the condominium as well as wages for its hired personnel include their maintenance and security personnel.

There are many popular types of housing in the Philippines today. And one of the most popular according to many Filipinos and real estate experts are condominiums. So what are the things that made condominiums a very popular type of housing in the Philippines?

Advantages and Benefits of a Modern House According to many real estate experts, the main reason why condominiums became a very popular type of Philippine real estate is because of its many benefits that conform in today’s modern and fast-paced lifestyles. One of those benefits is its location.

Accessibility Condominiums are mostly found in business and commercial districts in the Philippines, might it be in Makati City or in Ortigas Center, Pasig City. Because of its location, as well as the growing demand for types of housing which can offer easy access to business and commercial districts such as those mentioned above, condominiums rapidly gained a lot of popularity in the market.

Because of its location, residents were given the luxury of live within walking distance or mass transit distance from their workplaces, which is a benefit rarely found in other types of residential Philippine real estate, particularly with houses found in residential districts.

In addition to its location, condominiums are also known for its luxurious living space. Although found in one of the busiest districts of the Philippines, these condominiums can still offer their residents the peace and privacy that they are looking for. Many Filipinos living in one of these high-rising condominiums have even said that the view of the whole city from their window is breath-taking, particularly at night.

Maintainability and Security Another major advantage in which condominiums are known for is its maintainability as well as security. All types of condominiums are known to hire their own maintenance personnel who are tasked to maintain all facilities found in the condominium, from its hallways and parking lot, to its cooling systems as well as elevators.

Another luxury is its security personnel that assure the safety of their residents. This is because most of its residents are of high stature such as wealthy families and individuals, as well as company executives.

Modern Housing for Filipinos One disadvantage of condominiums is that these types are not as popular for many Filipino families, particularly for a growing Filipino family with their children. This is because these types of housing normally lack the necessary facilities to accommodate the needs of a growing child, such as wide open spaces as well as parks and playgrounds.

However, a new modern type of Philippine real estate was introduced to offer Filipino families the same modern luxuries that condominiums are known for, with the addition of family-oriented environment. These new types of condominiums are known as condominium complexes.

Family-Oriented Condominiums Condominium complexes are mostly found in the outskirts or in the provinces. These types of condominiums are also known for its wide open spaces, though mostly built for parking lots, its space is enough for children to run and play safely. Because of this, condominium complexes rapidly gained a lot of popularity for many Filipino families.

However, its main advantage is with its amenities, including swimming pools, gyms, recreational parks, and playgrounds in which residents can enjoy freely and exclusively.