The Solution Company

Preferred Property Finder is the boutique real estate agency that Luxury Waterfront Condo developers are looking to, to help them find buyers in this new state of the South Florida real estate market. Made up of long time business and sales executives the company is the right fit for these developers' second phase of marketing and selling. Preferred Property Finder is pleased to announce its relationship with Cielo on the Bay and developer Mario Egozi. Cielo is an unique, upscale addition to Harbor Island in North Bay Village. Egozi, along with Luis Revuelta, architect and Weintraub Companies, contractor are building an extraordinary 36-unit oasis. Each home is designed to optimize natural light with expansive flow-through floor plans and panoramic wide bay views. With private elevator entries, ultra european kitchens, secure covered parking, roof-top pool, spa and gym, and private marina Cielo is the perfect answer to owning a private exceptional piece of South Florida. And now is the perfect time to take advantage of the current real estate market.

Property Tax Reform

The Florida House passed a bipartisan property tax reform package yesterday by a 108-2 vote that addresses many issues important to Florida Realtors. It now goes to the Senate for consideration.

SUBPRIME HELP

A bill was introduced in the U.S. House yesterday designed to lessen problems within the mortgage industry. The legislation aims to prod states into enacting stronger mortgage regulations and sets up federal-level regulations if they don’t do so.

For Most Buyers, the Mortgage Market Is Healthy

The widespread notion that the entire mortgage market is in crisis is just plain wrong, say lenders in various parts of the country. The majority of mortgage products have been unaffected by troubles in the subprime segment. Interest rates for 30-year, fixed-rated loans remain in the low 6 percent range for people with reasonably good, though not necessarily perfect, credit records, according Kenneth R. Harney, managing director of the National Real Estate Development Center and syndicated columnist. Source: The Washington Post Writers Group, Kenneth R. Harney (09/29/2007)

Fed Cuts Rate Half Point, Wall Street Soars

September 19 2007: 7:24 AM EDT
NEW YORK (CNNMoney.com) -- U.S. stock futures were stronger Wednesday as investors continued to cheer a Federal Reserve cut aimed at restoring confidence in the financial markets. At 7:20 a.m. ET, stocks appeared poised to open higher and extend the previous day's big advance. The Dow Jones industrial averaged surged about 336 points, or 2.5 percent, on Tuesday after the Fed cut the target on a key interest rate by half of a percentage point. Many on Wall Street had expected the Fed to be more cautious and lower rates by just a quarter of a percentage point. The bigger-than-expected cut lifted sentiment, as it signaled the central bank is prepared to act in order to keep the mortgage meltdown and credit crunch from derailing the economy. Peter Cardillo, chief market economist, Avalon Partners, said that he believes that stocks still have some room to climb Wednesday, even after Tuesday's rally. He said the expiration of options on Friday will force those who had taken short positions that bet on a market decline to buy shares to cover those position. "It looks like the party might be extended today," said Cardillo. In global trade, Japan's benchmark Nikkei index jumped more than 3 percent on the Fed cut. Major markets in Europe rallied in morning trading.

Lehman wows Wall Street

September 18 2007: 9:55 AM EDT
NEW YORK (CNNMoney.com) -- Embattled investment bank Lehman Brothers surprised investors Tuesday by reporting better-than-expected earnings, allaying fears about the wallop that the mortgage crisis may inflict on Wall Street. Lehman (Charts, Fortune 500) shares jumped more than 3 percent in pre-market trading on the news, after finishing 1.5 percent lower on the New York Stock Exchange on Monday.....U.S. stocks pushed forward at the start of trading Tuesday as investors considered inflation data and Lehman Brothers results while expecting the Federal Reserve to cut interest rates.

Busy Buyers

Regardless of the not so positive stories in many media outlets, South Florida is currently a Buyer's Market and people purchasing properties are getting great deals. In the last two weeks we have had 5 closings with our savvy clients.

News: Foreign buyers may help housing market

NORTH PALM BEACH, Fla. – Sept. 7, 2007 – Looking for a ray of sunshine in today’s overcast housing market? Here’s one: Foreign buyers still want a piece of the American dream.In fact, it’s somewhat ironic that immigration has become a key domestic debate in the lumbering 2008 presidential campaign. Foreign-born buyers have not only contributed substantially to the growth of the U.S. housing sector but continue to help soften the landing as the market wobbles to correct itself. According to the 2007 “State of the Nation’s Housing” report from Harvard University’s Joint Center for Housing Studies, the percentage of foreign-born buyers that contributed to net household formations, previously 15 percent in the 1980s and nearly 30 percent in the 1990s, grew to 40 percent between 2000 and 2005. They’re coming to America all right, at a rate of 1.2 million net immigrants annually since 2000.

A record 12 million additional immigrants are expected to arrive between 2005 and 2015. “Basically, this country’s household growth depends on foreign-born households,” says Zhu Xiao Di, senior research analyst for the center. Little wonder, then, that during the last 12 months, one in three Realtors worked with an international client or prospect and nearly one in five sold a home to a foreign buyer, according to the “2007 National Association of Realtors Profile of International Home Buying Activity” released July 30.

Those numbers are likely to grow as foreign investors, bolstered by favorable exchange rates, take advantage of the cooling U.S. housing market to snatch up great deals on vacation homes, particularly in Florida, California and New England.
(c) 2007 bankrate.com