National News Archives - Larry Roorda Realtor

Miami’s Famous Versace Mansion Just Sold for a Bargain $41.5 Million!

After more than a year on the real estate market, Miami’s Versace Mansion finally sold for $41.5 million in a closed-door auction today. For those keeping score, that’s an $83.5 million discount from the home’s original $125 million listing price. The infamous property was bought today by the Nakash family, owners of iconic ’80s denim brand…

Hurricane Season has been a Dud

MIAMI – Sept. 9, 2013 – The preseason predictions were all dire, using words like “extremely active” and “above-normal” to describe the forecast for the 2013 Atlantic hurricane season. The National Oceanic and Atmospheric Administration (NOAA) predicted that seven to 11 hurricanes would form, while AccuWeather predicted eight. The season so far has been a…

Florida Leads Nation in Cash-Only Home Sales

MIAMI – Aug. 29, 2013 – Florida led the nation last month with what one expert called an “astounding” rate of all-cash home sales: 66 percent, a new report shows. Investor groups, international buyers, landlords and those in the market for vacation homes are fueling a cash-only market that has virtually shut out entry-level homebuyers,…

Flood Insurance History & Reformation

Flooding is the most catastrophic natural hazard and causes, on average, $3 billion dollars in damage annually. In 1936 The Flood Control Act was the first national program aimed at flood damage. In 1965 Hurricane Betsy caused over $1 billion dollars in damage along the Gulf Coast of Florida to Louisiana, and was the first…

Condo Association beats Bank in Million Dollar Foreclosure Battle

AVENTURA, Fla. – June 25, 2013 – It is a condominium association’s version of winning the lotto. A big bank missed its deadline to file for foreclosure on a million-dollar condo unit by 10 days. As a result, Peninsula Condominium Association in Aventura will get to keep the condo – a fancy three-bedroom, three-bathroom bayfront…

U.S. home construction rises 6.8% in May

WASHINGTON (AP) – June 18, 2013 – U.S. builders stepped up home construction in May and applied for permits to build single-family homes at the fastest pace in five years. The gains show housing remains a key source of growth for the economy. The overall pace of homes started rose 6.8 percent last month…

U.S. home prices jumped in April by most in 7 years

WASHINGTON – June 4, 2013 – U.S. home prices increased 12.1 percent in April from a year earlier, the biggest gain since February 2006, as more buyers competed for fewer homes. Real estate data provider CoreLogic says prices rose in April from the previous April in 48 states. Prices also rose 3.2 percent in…

IRA can help a retiree qualify for a mortgage

WASHINGTON – June 4, 2013 – A policy revision at Freddie Mac – Fannie Mae has something similar – allows seniors to include money in their individual retirement account (IRA) or 401(k) to qualify for a mortgage, according to Kenneth Harney in the Washington Post. The change could allow baby boomers in retirement to…

72,000 Floridians to get $1,480 check this month

TALLAHASSEE, Fla. – June 5, 2013 – Florida Attorney General Pam Bondi said yesterday that more than 72,000 Floridians who filed valid foreclosure payment claims will receive a check this month for about $1,480. The money is part of the $25 billion, multi-state and federal mortgage settlement reached in 2012. The checks go to…

Is now the time to buy that Vacation Condo?

Prices in resort areas may have hit their bottom, but getting the right investment property without getting hurt takes planning and savvy. Q: I want to buy a vacation condo and rent it out as an investment. What are the pros and cons? I want to start small and buy with cash. Is this the time to…