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Who can finance condos?
| Howard Burton at Bank of America today sent word out that no lender
after Friday will be able to finance the oceanfront condo market. I
think what he should have indicated is that Bank of America will
not be able to finance oceanfront condos after Friday. I called
Donna Millen at Wells Fargo and she said that there programs will
not change. They are available, and will be available. Evidently
there is at least a temporary problem with selling the oceanfront
condo loans on the secondary market, but Wells Fargo has a source
that no one else seems to have and they still can sell the loans
without a hitch. Everyone thinks that a solution will come for all
the lenders, but the question is how long it will take. Of course,
all this brought about by the overindulgence of investors trying to
flip properties and then getting stuck! |
Posted: 5:20 PM, Sep. 25, 2007 |
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Anderson Ocean Club receives C.O.
| Anderson Ocean Club received it's Certificate of Occupancy on
September 13th. Now the furniture is going in and the amenities are
all being completed. I toured the building last week and it is
beautiful. So many great features that have been incorporated
including crown molding and inlaid tile features. The beds are
OHHHHHHHHHH so nice! Top of the line Sealy posturpedic pillow top
mattresses. You may never want to get out of bed. Enclosed
corridors, beautiful carpet, large fitness center, dayspa and even
valet parking. You will be impressed with Anderson Ocean Club. |
Posted: 5:16 PM, Sep. 24, 2007 |
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