Florida Real Estate is Still a Good Deal
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If you are from Eastern Europe. I found this interesting article on a company that sells Florida real estate in the Ukraine. It sort of reminds me of a by gone era of the scam artists selling swapland to unsuspecting New Yorkers, but I will withhold my judgement completely. I think this gentlemans clientle is not a forgiving if he rips them off.
Kovacs said that his company gets the most business at their Hungarian and Czech offices, but the Russian and Ukrainian offices post the largest sales volumes, with an average transaction of $500-600,000, almost double the Hungarian and Czech figures.
Kovac said he couldn’t give specific information on his East European clients, citing the company’s confidentiality policy.
“People who we are dealing with meet us at hotels, restaurants or coffee houses. As you understand, they just do not want to be seen.”
And they also can get these folks qualified for loans even thought they do not have legal residency and a credit history. Where have we heard that before. Of course, a prime rate mortgage is out of the question.
Just like Kovacs, Massad does not see any serious problem in getting a non-resident his first mortgage loan in the U.S. The only complication, he said, is that the interest rate an applicant would have to pay could be up to 15 percent.
Massad said it is quite unlikely that a foreigner would get a loan for any less than 10-13 percent.
“The average American cannot get one for less than 6 percent.”
Massad said that brokers offering lower interest rates might simply add let the real interest accumulate and tack it on later.
So welcome to Florida. You may be the difference between the market tanking and a soft landing. And Florida Beaches sure beat the alternatives.
Maybe it was kryptonite...
ECONOMIC REPORT
'Prolonged' recession, higher joblessness seen likely
NABE survey indicates most economists now believe U.S. recession's started
By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
BY USING FIRST CLAIM INSURANCE ADJUSTERS YOU WILL HAVE THE ABILITY TO LOOK AT YOUR INSURANCE SETTLEMENT AND REALIZE FIRST ...
not bad 
I can't speak for the whole state of Nevada, but in the Las Vegas area, homes are still selling, we ...
When will we see the bottom of the Realtor market? 
