Commercial & Residential Property Blog

MIAMI BEACH, FL – Sales for Terra Beachside 6000 Collins are off to a roaring start. More than 35% of the 116 residences at the Miami Beach condominium project have already been sold in the first three months. The project, which is being developed by BH III LLC (“BH3″) is scheduled for completion this month with occupancy commencing shortly thereafter.

I just updated my Squidoo page: Commercial Real Estate Market Phases / http://tinyurl.com/lvz65q #

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Reading the Market – Part 1 http://bit.ly/npEPd via @AddToAny #

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Purchase Agreement delivered for mixed use / retail building…waiting on signatures before we get into the due diligence! #

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California legislators put a hundred million dollars on the table for first time homeowners to grab. Were they surprised when takers actually accepted the offer? Apparently this is so. They are now attempting to put more money in the coffers for this give-away.

The House and Senate may have left Capitol Hill for their August break, but housing lobbyists are busy at work gearing up a major campaign to extend the $8,000 home buyer tax credit.The credit for first-time purchasers is scheduled to expire November 30.

First-time home buyers in New York have an added incentive for entering the ownership market, thanks to a new tax credit equal to 20 percent of their annual mortgage interest.

The New York State Mortgage Credit Certificate, which lasts for the life of the loan, is projected to save some borrowers as much as $30,000 over the years. Eligible buyers must meet income criteria, take out a fixed-rate loan, and occupy the home as their primary residence.

Sellers have dropped their asking prices on 25 percent of homes listed for sale on Trulia.com, according to a report the online real estate company released last week.

Mortgage rates across the board jumped this week, with conventional mortgages reaching their highest point so far this year.

Some brave home builders are back building spec homes, something they had all but stopped doing as the market slowed.