Blog| Eric Jacobs |
| Merco Group's Woes Extend to the Law Firm(s) They Did Business With |
| 2008.10.14 12:50:53 | |
| Merco Group, recently having failed to so much as break ground on Terzetto in Aventura, Florida and after abandoning plans to building Paladio Terrace in Palm Beach has failed to return all $10 million in deposits which were supposed to have been held in escrow by leading South Florida law firm Gunster Yoakley.� The lawsuit filed late last week alleges that the law firm, acting as escrow agent acted negligently in releasing deposits to Merco based upon Merco's representation that construction had begun, a critical threshold under the law.� Gunster Yoakley admitted they did not take steps to inspect the property offering "We're not construction supervisors, we didn't inspect the property". Tags: |
| Eric Jacobs |
| Can't they just admit they were wrong? |
| 2008.09.04 01:57:06 | |
| I was in a meeting today negotiating with an "investment advisor" who directed our firm's client to invest in various properties around the state of Florida. Unfortunately, like so many others, this "advisor" had no idea what he was doing. Like so many who decided they were experts, in real estate, this person saw fit to gather other people's money in "sure thing" real estate investents. Once the market collapsed, particularly in downtown Miami, thisparticular person along with so many others began to point their fingers to a declining market as support for the notion that this was not their fault.
Tags: real estate |
| Eric Jacobs |
| A Stabilizing Housing Market in South Florida Does Not Mean a Lessening of Credit Problems. |
| 2008.08.24 21:01:33 | |
| It seems that unless you are a speculative condo owner in the Brickell area of Miami, the worst of the collapsing real estate market has probably passed. That said, like the bands of a hurricane, just because the worst is over doesn't mean there won't be residual storms. No, there is no question that the South Florida real estate market has suffered and some might even say deservedly so, but whatever happens with prices, the question remains whether anyone can get a mortgage to buy anything either way.At some point, lenders are going to have re-learn lending and borrowers are going to have re-learn that qualifying for a mortgage means more than just saying "I want a mortgage !". Good credit will mean something again, namely that you are a favorable credit risk but that may take some time. For more info on the continuing storm, check out http://www.inman.com/news/2008/08/22/fannie-freddie-deathwatch-begins Tags: Buying Real Estate in South Florida | South Florida Real Estate Market |
| Eric Jacobs |
| Real Estate Market Likely Hits Bottom in Hollywood, Florida and Nationwide |
| 2008.08.12 01:38:31 | |
WASHINGTON, August 07, 2008 Some improvement is projected for existing-home sales in the months ahead, with broader gains seen by the fourth quarter as buyers take advantage of new provisions provided through the recently passed housing stimulus bill, according to the latest forecast by the National Association of Realtors®. The Pending Home Sales Index,¹ a forward-looking indicator based on contracts signed in June, rose 5.3 percent to 89.0 from a downwardly revised reading of 84.5 in May, but remains 12.3 percent below June 2007 when it stood at 101.4. Tags: |
| Eric Jacobs |
| Help for Homeowners Facing Foreclosure? We'll see |
| 2008.08.07 23:38:37 | |
| President George W. Bush signed into law a bipartisan housing stimulus bill Wednesday that is expected to bring greater stability to housing markets nationwide. The bill, strongly supported by the NATIONAL ASSOCIATION OF REALTORS®, will help some 400,000 home owners refinance into affordable, government backed loans and offer a temporary first-time home buyer tax credit, which is expected to serve as an attractive incentive to buyers and help reduce high inventories of unsold homes. The temporary first-time home buyer tax credit would offer $7,500 for the purchase of any home and an be used for purchases between April 9, 2008, and July 1, 2009. |