Condo.com - Condo News

Condo.com Hires Top Executive to Lead Brokerage Development

Mon, 04 Jan 2010 16:37:00 GMT

Miami, FL (January 4, 2009) – Condo.com, a leading online real estate portal and rapidly growing national real estate brokerage, has announced Jody Desnoyers as the company’s new Director of Training and Development. The company’s brokerage department works with condo buyers, sellers and renters around the country and will look to Desnoyers to help recruit, train and establish a process for additional agent growth to support customer demand. Condo.com offers several opportunities for agents such as: condo listings, advertising and free networking tools including the ability to create profiles, provide advice to qualified users, post blogs and upload videos. The company offers a complete agent and broker experience through training and certification programs. Agents receive qualified leads, marketing support, a CRM account, and now- a more robust training and coaching program set to be launched by Desnoyers in the next 60-days.

As the new Director, Jody will be focused on the training, recruitment, and retention of all agent development programs. Specifically, his plan includes further development of the “agent toolbox” complete with seller and buyer presentations, useful handouts and pertinent industry news - all with the purpose of enhancing the brokerage team’s effectiveness, agent by agent, and ultimately resulting in higher lead conversion. “Jody’s addition to the department further enables us to develop into the world’s largest condo brokerage”, stated Richard Swerdlow, Founder and CEO.

Prior to joining, Condo.com, Mr. Desnoyers began his real estate career as an agent for Foxtons, Inc. where he sold over $40 million worth of residential real estate in his first 18 months. He went on to manage and train teams of agents responsible for over 1,000 closed real estate transactions while serving as Director of Operations – South Florida and Broker of Record for Home Discovery Inc, Broker / Owner for Empower Realty. Most recently he was Broker of Record & Regional Sales Manager – New York for Lending Tree's residential real estate subsidiary, RealEstate.com. Jody brings a breadth of real estate brokerage knowledge and experience to the Condo.com team, particularly within lead generation and web-based brokerage business models. Jody majored in communications and played baseball at Canisius College before earning a Bachelors of Science degree in Psychology from the Plattsburgh State University in New York. .

About Condo.com
Condo.com (www.condo.com) is the world's largest condominium marketplace with over 800,000 listings valued in excess of $250 billion. The site is a consumer-facing, online real estate portal which receives over 1 million visitors monthly and is dedicated to the evolution and prosperity of the condominium real estate market. Condo.com improves and simplifies the way people buy, sell, rent, live and vacation in condos. Condo.com lists condos for sale and for rent in the United States and 70+ countries around the world. The Company cost-effectively delivers exposure and qualified leads to developers, brokers and owners through the seamless distribution of its listings to a global network of real estate websites visited by over 15 million viewers per month. The company is also a licensed real estate brokerage business in multiple markets and has a growing nationwide network of licensed real estate agents providing brokerage services. Condo.com is privately held and headquartered in Miami, Florida

Florida Condo Sales Increase

Wed, 30 Dec 2009 00:41:00 GMT

Florida condo sales increased by 111% based on a year-to-year comparison. 4,889 total units were sold this past November compared to 2,320 units sold in November 2008 throughout the state of Florida. Although sales have increased, prices have decreased over the past year by 21%. The condo median sales price was $104,400 last month compared to a median price of $131,400 recorded for November of 2008. According to NAR, the national median condo price was well below Florida at $172,900 for October 2009.

The contributing factor for this large condo sales increase is the extension of the federal home-buyer tax credit. The tax credit will continue to be a guiding force of home-buyer activity, and a large contributor to increased condo sales for 2010. Condo markets in states like Florida, known for being over-populated, will begin seeing a large decrease in condo inventory. These numbers are forecasting a much more stable condo and housing market for this coming year.

Florida continues to provide significantly lower priced condos comparing other markets. Check out some of the great deals on Florida condos by clicking here.

Job Loss Insurance Offered to Condo Owners

Mon, 21 Dec 2009 22:46:00 GMT

The job market these days still remains a scary situation for both the employee and employer. Such uncertainty has left both homeowners and renters with the harsh reality of becoming homeless should they lose their jobs.

Due to the current economic standings, there is now a job loss mortgage insurance rider that can be applied to your renters insurance policy. The question that many are asking is: What if I am a condo owner, do these same benefits apply to me? According to a recent article by InsuranceAgents.com, both rent-to-own condo buyers and official condo owners will qualify for job loss insurance.

Mortgage and rental payments are generally the most costly of ones expenditures. In the event that job loss occurs, it can become extremely difficult to continue these payments in a timely manner especially considering all other outstanding bills to be paid. Therefore, this job loss insurance is highly beneficial as it covers your monthly rent or mortgage payments until you find a stable place of employment.

Job loss insurance does, however, have certain eligibility requirements which must be met.

Here is a list of these requirements:

1) Condo owners are only able to use this coverage if they are let go (quitting or being let go due to misconduct or criminal activity does not count).

2) Condo owners cannot be self-employed, or own more than 10 percent of the company where they are employed.

3) Job loss insurance must be purchased while the condo owner is still employed, and they must wait 30 to 60 days after the loan closes before coverage begins.

If the condo owner meets all eligibility requirements, this coverage will guarantee that the insurance company will make all payments due to their mortgage company.

With the current sliding job market, it is hard for anyone to claim their employment status is 100% safe. For peace of mind as well as ensuring you will be able to keep your property, it highly recommended that you check with your insurance company about obtaining job loss mortgage insurance. Some have already done so, have you?

Submit to our poll here: Have you purchased job loss insurance for your house or condo?

Luxurious Miami Beach Condo in Foreclosure

Thu, 17 Dec 2009 17:11:00 GMT

This 3 bedroom 3 bath condo located in Mosaic, a beachfront luxury condo building, features 1,507 square feet and a 333 square foot balcony. Enjoy the ocean view from the master bedroom, living room, and kitchen. The second and third bedroom boast amazing city views as well. This unit even comes with a private elevator and foyer. The kitchen and bar area include granite counter tops and Sub zero and Miele appliances.

Onsite amenities include direct ocean access along with a gym, wine room, pool, jacuzzi, media room and concierge.

The list price is $702,900 or $466 per square foot. The flow through unit is located on the 15th floor and has direct ocean and city views. Click here to get more information on the beautiful Mosaic on Miami Beach- what a great deal!

FHA Updated Condo Guidelines

Mon, 14 Dec 2009 20:30:15 GMT

The Federal Housing Administration began enforcing new rules in attempt to help more condominium buyers qualify for mortgages. Officials state that such rules are necessary to ensure consumers are purchasing units in viable buildings, and are also meant to keep defaults on condo projects to a minimum.

Highlights of the new policy on loans in condo buildings include the following:

Temporary changes

·     50% owner-occupancy minimum, excluding vacant and tenant-occupied units
·     Condo pre-sale threshold reduced from 50% to 30%
·     Cap on FHA loans in a building raised to 50% from 30%

    *Note: the cap can be raised to 100% if certain conditions are met

Permanent changes

·     Eligible buildings' association must have at least 10% of budget in a reserve fund
·     No more than 10% of units can be owned by one investor
·     No more than 15% of units can be at least a month in arrears on association fees.
·     Loans now OK when associations have the right to reject a buyer, provided there is no
      discrimination.

Some argue that these changes will make it harder for builders to deliver new condo buildings. The debate relates to certain changes such as the new eligibility requirement for building associations. It states that loans will be approved in buildings whose condo associations have deposited 10% of their annual budget in a reserve account for repairs and maintenance. Critics say the 10% threshold is too high for buildings with few units. Furthermore, the FHA has been scrutinized for falling into industry pressures on the process, therefore causing condo loans to be more prone to foreclosure.

FHA officials, on the other hand, believe the policy is well-balanced, mitigates risk, and helps to protect consumers. Since lenders are now forced to be more careful about which projects they fund, such rules contribute to more financially sound condo investments.

Submit your opinion by answering our poll:

Is the FHA push a good move for the condo market?
http://poll.fm/1f4eq

Living the Good Life…The Benefits of Owning a Miami Condo

Thu, 10 Dec 2009 15:32:00 GMT

Wouldn't you rather own a condo? When owning a Miami condo comes to mind, most people imagine luxury, a beautiful shoreline, and relaxing sunsets. While these are some benefits, there is more to know about owning a condo, and specifically in Miami, FL.

Those living the Miami condo life enjoy all amenities that come with their condo lifestyle. The service, often including valet parking, the accommodating staff, and the extra security and safety are just a few of the perks to enjoy. Living the good life in a Miami condo also comes with the convenience of different facilities, restaurants, shopping, and beaches-all within walking distance.

For some Miami condo owners, renting out their unit as a vacation rental also makes for an easy source of income. Many tourists have their vacation homes on the shorelines of Miami, creating a relaxing atmosphere when they are at their home away from home.

For investment purposes, Miami is one of the best markets to pursue as it is a thriving and stable market. Already convinced on investing in a Miami condo?

Here are some key tips to get you started:

Location- Make sure that the first decision you weigh in on is the location of the property that you desire to be in. If you are looking to make this your second home, do your research to be sure you choose the right location for your lifestyle preferences. If you are going to be using this condo purchase strictly as a vacation rental, be sure the property will be located in an area for different types of renters unless you have a specific type of tenant in mind.

Gear it towards your market- Find a condo that is geared toward your rental market. When buying an investment property, it is important to be sure that the accommodations and amenities are appropriate for future tenants and families. In order for you to receive the best profit on your investment, it is best to have a property that can cater to many different walks of life.

Decide on your price- Whether you are using cash, or taking a loan on the property, be sure you are within the safe guidelines which you can afford. The key goal when purchasing an investment property is to buy at a lower price with a higher sales price at a later time.

Regardless of whether your condo of choice is located in Miami , owning a condo clearly has its benefits as a primary residence, vacation rental, and/or an investment property.

Please take moment to take our Condo.com poll and tell us where your ideal condo location would be.

Luxury San Francisco Condos- Almost Sold Out!

Tue, 01 Dec 2009 18:56:00 GMT

San Francisco, CA December 1, 2009- Currently over 90% sold out, Soma Grand still has a great selection of view homes available at incredible prices. Whether you take advantage of our 3.5% FHA loans or prefer the more conventional FNMA option, we offer a wide selection of sizes, styles and financing options at Soma Grand to help you find and buy the perfect home.

Get in on this wonderful new community before all of the homes are gone. With over 220 homes already occupied, Soma Grand is a vibrant community where our dedicated Joie de Vivre concierge team will organize your next party, theater tickets, or your next yoga class in our park level studio.

Life at Soma Grand means really living...

Don’t wait to discover the best value in the market—schedule your appointment to see the homes, starting in the $500,000s. Call 877-720-8989, visit in person at 1160 Mission Street in San Francisco, and check out the building gallery on Condo.com by Clicking Here.

About Soma Grand

Soma Grand sets a new benchmark for affordable luxury living in San Francisco. Residents have unparalleled access to, and views of, one of the world’s most beautiful cities from their exquisitely-designed homes. Services and hospitality are provided by one of California’s leading hotel groups, Joie de Vivre, ensuring quality and a committed attention to detail. After selling for over a year and a half, the building is nearly 90% sold out with many of the best homes being released for the first time. Find out more about Soma Grand at www.SomaGrand.com.

Great Investment Property: Acanto Condominium Units For Sale

Mon, 30 Nov 2009 22:44:00 GMT

Acanto Condominiums, available in 1, 2 and 3 bedroom units, are just steps away from the beach and adorned with miles of powdery white sand and clear blue waters. The condos' prime location is also located a 1/2 block from Playa's 5th Avenue, a popular street offering an array of shopping and dining experiences.

Ancanto Condominium amenities feature the best services of a luxuryhotel, jacuzzi, swimming pool, rooftop terrace, and more...click herefor more property details.

Playa del Carmen is a cosmopolitan town small enough to walk almostanywhere while providing beautiful picturesque scenery. Playa delCarmen is one of the fastest growing cities in the Western Hemispheremaking it stronger economically. Therefore, this town presents anoptimal opportunity for long-term real estate appreciation.

C-O-N-D-O...and condo is their name-o!

Wed, 25 Nov 2009 17:58:00 GMT

Leading online real estate portal, Condo.com has users singing, clapping, and dancing to their new jingle. The jingle video, now on YouTube seen below, demonstrates one way the company likes to have fun while providing users with a one-stop shop for all their Condo needs.

The lyrics tell the site’s story of how Condo.com improves and simplifies the way people buy, sell, rent, and vacation in condos. As the world’s largest condo marketplace, the site has over 800,000 listings for sale and rent in the United States and 70+ countries around the world. With Condo.com, advertisers can list their condo for sale, rent or as a vacation property to over 15 million qualified buyers and renters. Moreover, the site’s expert agents help all their clients find the condo of their dreams. Condo.com also has a great community area filled with blogs and property reviews to help users make the best decision on their condo purchase or rental. Used as a social networking tool, the community offers free tools including a Q & A forum and the ability to upload videos and photos.

Condo.com’s new jingle summarizes all the above features in a video format, one yet to be seen by any other industry competitor. Click the play button above. This video is sure to make you smile!

Costa Rica’s Sands Point Condominium Tower Goes Green

Tue, 24 Nov 2009 16:03:00 GMT

Sands Point is a collection of luxury residences on Costa Rica’s coveted Central Pacific Coast, bringing the impeccably designed work of the world-famous architecture firm Arquitectonica, to Costa Rica for the first time ever.

Sands Point, Costa Rica, has announced the adoption of environmentally-conscious construction strategies and a commitment to the economic and social benefits of sustainability. Sands Point developers recently approved several design modifications which more closely align the project to the ecological preservation and energy conservation goals widely held by its future residents.

For each bedroom in the Sands Point Tower, the development will support the planting of 100 trees. Additionally, every bathroom will support 50 trees. Furthermore, for each unit sold, residents of Sands Point will protect 5 acres of Costa Rica’s rainforest along with contributions to the conservancy made by the project fund.

Therefore, a 2 bedroom 2 bath condominium at Sands Point contributes 300 new trees and 5 preserved acres of rainforest toward Costa Rica's goal to be carbon neutral by 2021. To celebrate, Miami-based owner Tidewater Partners Fund, LP is offering significant savings and incentives for new investors. For only $5,000 down in the next 30 days, future owners will receive 15% off the purchase price. The funds will be held by Stewart Title and are also fully refundable.

The lifestyle of your dreams is now waiting for you, on the sandy shores of Costa Rica’s enchanting Pacific coast. Make it yours forever and simultaneously protect the environment today while preserving it for tomorrow.