Condo.com Blog

Fund Buys Oceanfront Condo Development At Deep Discount

Sat, 19 Jul 2008 23:18:07 GMT

A South Florida opportunity fund received a 31 percent discount in purchasing an undeveloped oceanfront commercial property that had been the site of a proposed ultra-luxury condominium tower in Sunny Isles Beach, which is located in Northeast Miami-Dade County.

The newly created R.K. Land Holdings LLC paid $9.6 million, or $300 per square foot, for the 32,000-square-foot lot that had been the site of the proposed Da Vinci on the Ocean condominium at 17141 Collins Avenue.

Mully SB LLC, a Virginia Beach, Va.-based entity with Nathan D. Benson as a member, was the seller. Waterbrook Developers with L. William Rudnick and Thomas N. Yianilos had proposed building a 69-unit ultra-luxury condominium on the site, according to the Da Vinci website.

It is unclear what the relationship was between Mully SB LLC and Waterbrook Developers.

Under the terms of the deal, the seller could receive as much as $2 million more for the land if the new buyer is successful in developing or selling the property.

“In the event the Grantee [R.K. Land Holdings LLC] obtains profits on its sale of the property (whether the property is improved and sold in units or sold in an unimproved state) in excess of $20,000,000, then the Grantor [Mully SB, LLC] shall be paid an additional $2,000,000 by Grantee [R.K. Land Holdings LLC] in excess of the purchase price under the purchase contract between Grantor and Grantee,” according to the deed.

The buying entity plans to build a 300-unit hotel on the property, according to the South Florida Business Journal.

The hotel would be constructed between the new Ocean 4 condominium to the north and the soon-to-be completed Jade Ocean condominium.

The buying entity is a combination of three limited liability corporations that include as members Raanan Katz of RK Associates which owns several retails centers in Miami-Dade and Broward counties, and Aventura residential developer Yizhak Toledano of Sky Development.

Toledano is involved in the Skyvest Real Estate Opportunity Fund 1 LLC, which is a joint venture between Sky Development and condo converter SunVest USA.

The seller Mully SB LLC paid a combined $13 million to assemble the land in April 2005 by purchasing each of the existing 55 units of the former condo-hotel that once stood on site, according to county records.

Upon buying out each of the condo-hotel unit owners, the seller terminated the condo association and proceeded to raze the previous structure in August 2005 in order to open a sales center of the proposed Da Vinci.

The developer spent nearly three years marketing the project extensively to high-end buyers but was never able to construct the tower.

The seller Mully SB LLC obtained a predevelopment loan for $11.7 million in July 2005 from LaSalle Bank in Chicago. In August 2007, the borrower modified the mortgage and reduced the amount to $8 million, according to county records.

The assessed value of the property for 2008 is not yet available however in 2007 the site was valued at $9.6 million, according to the Miami-Dade Property Appraiser. Industry watchers said that assessed value is often about 15 percent below market value.

Sunny Isles Beach is a 40-block long stretch of barrier island city that is home to six towers with featuring real estate magnate Donald Trump’s name. At least 12 oceanfront towers with more than 300 units each were constructed or completed in Sunny Isles Beach in the last five years. Prices for these units range from $400 to $900 per square foot.

Peter Zalewski is a principal with the consulting company Condo Vultures®LLC and a licensed real estate broker with Condo Vultures® Realty LLC. Peter can be reached at 305-865-5629 or by email at peter@condovultures.com. Be sure to check out Peter’s blog at CondoDump.com. Don't forget to sign up for our weekly Market Intelligence Report.

Copyright © 2008, Condo Vultures® LLC

Should I buy or rent?

Sat, 19 Jul 2008 22:35:31 GMT

The age old question of what to do next. The answer for 2008 first you get a mortgage, then you will find house. The guidelines for mortgages almost change daily as they tighten up the lending. So if you have the money available to buy, the best first step before looking is to get pre-approved to know exactly what mortgage is available and then start looking for the house/condo that fits your guidelines.

St. Tropez Luxury Townhomes and Condos. Sunny Isles, FL Newest Waterfront Community

Fri, 18 Jul 2008 23:43:25 GMT

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Type: Condo, Villa / Townhome	· Boat Slips · Smart Building · Spa · Fitness Center · Club House · Security · Valet · Concierge · 24 hour guard · Elevator
Prices: $599,000 to $2,500,000
Delivery: January 2009 (estimated)
Sizes: 1,593 to 5,000 sq feet
Bedrooms: 3 to 4
Waterfront: Intracoastal
Pets: Yes
Rent: Yes
Total Units: 280
Number of Stories: 15
Maintenance: $0.42 (price per SqFt)
305-788-6643 for more info.

St. Tropez is a trio of towers offering waterfront condominium residences and the new city of Sunny Isles Towne Center nestled on the Intracoastal Waterway in Sunny Isles Beach, Florida. The three towers sit on a common base that is a tribute to an old Mediterranean village and exemplifies the charm and charisma of the south of France. The street level of this Mediterranean marvel will soon become the City of Sunny Isles Towne Center featuring beautiful upscale dining and shopping attractions. The towers themselves will be 1 Italian works of art reflecting a sleek and Modern design.

The three St. Tropez Preconstruction residential towers will include semi-private custom designed elevators and an array of upscale finishes. These finishes include rare and exotic stone flooring, a custom designed Italian wood kitchen including a stainless-steel appliance package and high-end plumbing and bath fixtures to compliment an extensive list of unparalleled interior appointments

BUILDING FEATURES:

- High-speed elevator systems including custom designed CABS
- Ocean to Intracoastal or bay view wrap-around balconies with glass and metal railings
- Pre-wired with a variety of voice, data, and television options
- Raised panel entry door with elegant hardware
- Large capacity washer & dryer
- Dramatic Italian designed kitchen with breakfast bar
- Special designer edge granite countertops with backsplash
- Stainless steel appliance package including full-size built in microwave and fully integrated large capacaity dishwasher and high-end refrigeration system
- Built-in self cleaning wall oven
- Under-mounted double stainless sink with pullout spray and garbage disposal
- European style kitchen cabinetry complete with custom organizers
- Exotic imported stone floors and vanities throughout the bathroom
- Oversized free-standing tub complete with bubble message system
- Framelss glass walled marble showers
- Energy efficient dual zone air conditioning and central heating system
- Floor-to-celing walls of tinted glass in living room, dining room, kitchen and bedrooms
- Gallery quality wall finishes
- Spacious master closet
- Linen closets
- Private tenant storage and bicycle storage

TOWNE CENTER FEATURES:

- Elegant "sense of arrival" enhanced by a South of France inspired Mediterranean piazza featuring gardens, porte cochere, cascading fountains and old world detailing
- Italian restaurant with fine dining and outdoor terrace seating
- An array of casual dining options
- A selection of upscale shopping boutiques, stores and cafes
- Pedestrian friendly pathways and garden-like piazzas complete with bubbling fountains and authentic Tuscany landscaping

Kuapa Isle - Prestigious Hawaii Kai Waterfront Townhome Complex

Fri, 18 Jul 2008 22:40:59 GMT

Proceed up Hawaii Kai Drive after turning from Kalanianaole Hwy, then turn right on Opihikao Place and you will be on Kuapa Isle, a 234 townhouse development of various different floor plans, some one level and some 2-story, completed in 1970.

There are 3-bedroom/2-bath, 3bedroom/2.5 bath and 4-bedroom 3-bath town homes, each with little garden area or lanai, and most of them on the marina, many with boat docks. This development is a very desirable location.

Sales in 2007 ranged from $410,000 (Leasehold) to $728,000. So far in 2008, 6 homes have sold, from $600,000 to $775,000. Maintenance fees are about $545/month.

Visit my Hawaii Kai real estate market analysis page on my web site for full details: http://www.movetohawaiikai.com/Hawaii_Kai_Market_News/page_1893904.html

The Honolulu Board of Realtors issues very complete statistics for monthly sales on Oahu. Contact me for a free copy.

Barbara Abe, Realtor for Hawaii Kai
barbara@barbarashawaii.com
808-226-2537

The Koolani condos in Honolulu have exquisite residential features and resort-like building amenities

Fri, 18 Jul 2008 21:14:40 GMT

The Ko'olani...in Hawaiian, it is the balance that upholds the heavens.

Find your urban sanctuary here at this premier luxury condominium complex (built in 2006). The Koolani is located at the electric center point of Honolulu...in the Ala Moana-Kakaako trendsetting neighborhood: amongst the famed Ala Moana Shopping Center and Ward Shopping and Entertainment Complex. Walk to the relaxing Ala Moana Beach Park and play tennis, stroll along Magic Island, or swim in its calm ocean area. Walk to the many boutique shops, eclectic dining, or Ward Theatres. Walk to your physician, massage therapist, or pet groomer.

Koolani's building amenities sets it apart from many other complexes. Residents choose the Koolani for its location, serenity, and design and construction quality, as well as, the business center, board room, meeting room, party room with kitchen and prep room, DVD theatre and billiard room. A pet friendly complex, the outdoor features on the 6th floor includes a putting green, lighted tennis courts, swimming pool and spa, BBQ areas, and dog area.

Ronda Ching Day sells Honolulu Hawaii Real Estate and helps you with all of your real estate investment needs

Is San Felipe, Mexico the new Cabo San Lucas?

Thu, 17 Jul 2008 18:33:25 GMT

I have heard from interested buyers looking into property in San Felipe, Mexico, which could very well be the new Cabo San Lucas.

There are a number of major developments going on including condominiums, duplexes, and single family homes. A major American developer has completed its first phase of the project which offers lots for sale as well as condominiums. Some of the lots allow for the erection of duplexes which can result in an excellent rental property opportunity. The climate is analogous to southern California and there is, of course, access to the Sea of Cortez. You are best advised to contact a realtor or a major American developer in the area.

Trip Around The World

Thu, 17 Jul 2008 17:48:58 GMT

1. Iguazu Falls, Argentina/Brazil

This collection of 270 separate waterfalls gives Niagra Falls a run for its money. Straddling the border of Argentina and Brazil, this is the perfect South American destination. The Iguazu Falls are surrounded by unique national parks and almost three kilometers of lush forest. While you’re there, take a speed boat ride and explore the surrounding culture. You can get there by bus from Paraguay, Argentina or Brazil, or fly from Buenos Aires or Rio De Janeiro.

2. Machu Picchu, Peru

The lost city of the Incas sits proudly amongst the Andes Mountains. It was built circa 1450 but it wasn’t until the early 1900s that it was rediscovered. Since the city is not reachable by roads, you can take a 2-4 day hike along the Inca trail or a 5 hour train journey from Cusco. Whatever method of travel you decide on, make sure to book in advance. Trains are easier to catch, but hikes are limited to 500 people a day. Either way, you will be leaving from Cusco which is a fun city in itself because it has good restaurants and an active nightlife.

3. Tikal, Guatemala

Tikal is the largest and grandest of the Mayan ruins by far. The ruins are secluded in a rainforest in Northern Guatemala and most are actually undiscovered. Tours start in the early morning when you hear the native monkeys howling. If you visit Tikal your best options are to stay in Flores or Santa Elena. Flores, which is 30 kilometers from the ruins dates back to the 13^th century. Santa Elena on the other hand is a larger town that offers cheap accommodations for travelers.

4. Great Pyramids of Giza, Egypt

It would be nearly impossible to get anywhere near Cairo without going to see the Great Pyramids of Giza. They are set on the outskirts of the large city of Giza and the Sahara desert. Most pictures of the Sphinx are taken from the desert side so it is a common misconception that the pyramids are in the middle of nowhere. Giza however is a bustling city with tons of restaurants and is just across the Nile from Cairo. You can effectively see the pyramids in a half day trip and most hotels have tour packages available. If you are with a group of people, it may be worth the money to hire your own tour guide and go at your own pace.

5. Petra, Jordan

If you are looking for an introduction to Middle Eastern culture, you will enjoy Petra. The city was built entirely into pink rock and nothing short of breathtaking. Luckily, for travelers, Petra is in a relatively calm area of the troubled region and is safe to visit. While the standard tour takes a day, plenty of add on packages are available to enhance your visit. Try renting a horse or mule while you are there. Most visitors travel to Petra from Israel, or fly into Amman which is a three hour car ride away.

6. Rajasthan, India

Rajasthan is a mystical region filled with colors, camels, forts, temples and an array of music. It is the largest state in India and is also known as “exotic India”. Visit the capital Jaipur for a modern and urban experience, and the smaller surrounding towns for a more intimate feel. Pushkar for instance is a holy village that is very popular with backpackers You can fly directly into Jaipur, Jodripur, or Udaipur, there is a bus service that connects all these points of interest. Or, take the luxurious train system for a truly rich experience.

7. Angkor Wat, Cambodia

This is a must see if you are anywhere near South East Asia. Angkor Wat is a 12^th century temple that is part of a much bigger complex. You could easily spend an entire day seeing the site, but tourists flood the area every day around lunch so plan your trip in the early morning or late evening. To get here, you can fly into the capital of Phnom Penh or directly into Siem Reap. Siem Reap is the second busiest airport in the country, and is surrounded by five star hotels and smaller hostels. Package tours from Bangkok are available also.

8. Great Wall Of China

Beijing, or the “Forbidden City”, is one city you shouldn’t pass up on your trip around the world. In the Beijing area you can view China from the past and the present. The Great Wall of China is 4000 miles long with the closest part being about 70km outside Beijing. This wall is beaming with history- it was built in the 5^th Century BC and between 2 and 3 million people died during its construction. Since the Badaling section of the great wall is closest to Beijing it tends to be the most crowded. The Mutianyu section is a little further but offers a more intimate experience. Combine a trip to the Great Wall of China with the Ming tombs for a full day of sightseeing.

9. Bali, Indonesia

Bali is just one of 17,000 small islands that make up Indonesia. The 3 million inhabitants practice their own form of Hinduism. While you’re there, you’ll be submersed in the culture, including morning offerings which consist of flowers, incense and leaf baskets. Ubud, an art village, and Kuta, a popular surfing hangout are both nearby and worth visiting. The ancient temples and rice terraces are also quite the sites to see. Luckily, navigating the island is very inexpensive, hotel rooms start at around $5 USD a night. You can fly into the Denpasar Airport which is close to the capital city or take a ferry from anywhere in the region.

10. Great Barrier Reef, Australia

No trip around the world would be complete without looking at the largest collection of living things on the planet. If you are scuba certified you’ll be in heaven, if not you can snorkel, fish or fly over the reef. Glass bottom boat and platforms rides are also a good alternative to observing the coral without getting wet. If you have more time, explore the less popular sections and islands in the region. Flights are reasonably priced from the major surrounding cities in South East Asia.

11. New Zealand

New Zealand is the best stop you could make by far between North America and Australia. Kiwiland is less known but everyone who visits instantly falls in love with it. Aukland is a large, less charming city but is worth stopping at for a night. Luckily, traveling around is easy- there are crammed but efficient buses that hop from attraction to attraction. If you have more money to spend, renting a camper is an awesome way to sight see and there are hundreds of parks to spend the night. The South Island tends to be more popular but the North Island is just as beautiful. Make sure you visit at least one of the two glaciers on your visit and sight see in Queenstown.

Condo Listing is for a Rental only!

Thu, 17 Jul 2008 01:46:28 GMT

Attention: This listing is for a rental only. The monthly rate is $3,750/month. If you are interested in this GREAT deal, please contact me via email!

Thank You!!

Puerto Vallarta Real Estate Market

Thu, 17 Jul 2008 00:28:49 GMT

Who is making money Today in The USA Real Estate Market ?

This could be an easy question for those who know the US market inside out and a difficult question for many others. I am one of the many others.

What I know and I can tell you is Who is making money in Mexico Real Estate and specifically in Puerto Vallarta Real Estate. The answer here is Thousands of baby-boomers. Yes Thousands of Baby Boomers are entering the Mexico real estate market to purchase second homes, vacation homes, investment properties or primary residences. They are buying in porpular destiations like Puerto Vallarta, Manzanillo, Mazatlan, Cancun, La Paz, Cabo San Lucas, Rocky Point, Playa del Carmen, Merida, Ixtapa, Campeche, San Miguel Allende, etc, etc, etc.

The appeal is more than just the proximity to the USA and a permanently toasty weather. The cost of living, from housing to health care, is significantly lower in Mexico than it is in the U.S. That makes the country especially attractive to retirees on fixed incomes. According to the International Living, Global Retirement Index 2007, Mexico tops the list in countries to consider for retirement. And now also for real estate investment.

In Puerto Vallarta, based on what we see, live and read I can let you know the following.

1. Vallarta is well-positioned geographically for American, Canadian and Mexican second-home buyers markets. Its easy to get here with service from major airlines, in just a few hours.

2. Vallarta's weather is exceptionally good, offering temperate waters, mild temperatures, sun most of the year with rain concentrated primarily in the off season.

3. Baby Boomers, their wealth and the transfer of their parent's wealth to their lifestyle, is still a reality. And looking for a second home somewhere warm is a high priority on their list.

4. Although prices have risen over the past five years providing strong appreciation, prices are still competitive to other beach destinations. And Vallarta offers a wide range of pricing and product availability. There are $100,000 condominiums up to $5 million dollar homes. There are homes, condos, townhouses and fractionals situated on the beach, hillside, golf course, marina, downtown or on an isolated stretch of coastline. The variety of production, location and pricing cannot be matched.

5. The cost of living is still well below that of the USA or Canada and property taxes are much less expensive.

What are you waiting for? Discover why more and more Americans & Canadians are choosing to retire in Mexico. Come and Learn how to Invest Safely and Profitably in Puerto Vallarta. Come to one of our Puerto Vallarta Real Estate Discovery Weekends.

Where: In Puerto Vallarta, México

When: July 17,18 & 19; August 21,22 & 23; September 25,26 & 27
October 23,24 & 25; November 13,14 & 15

You will tour the hottest new real estate developments that Puerto Vallarta has to offer. Leading industry experts will share their knowledge and expertise in the areas of:

::Real estate
::Law Finance
::Taxation
:Title Insurance

Our Discovery weekend is an experience like no other. Expect the best while you're with us. You will experience all the culture and adventure that Mexico has to offer. All you pay is airfare and a seminar fee of $185/single or $250/double.

So get ready to have fun!.

To learn more or make your reservation, please contact us:
Info@emexicorealestate.com

LUXURY HIGH-RISE NAOS INTRODUCES NEW STANDARDS TO THE RIVIERA BAJA REGION

Wed, 16 Jul 2008 21:03:35 GMT

For Immediate Release

Riviera Baja, Mexico (July 7, 2008) – If surfing, boating, golfing, relaxing, great food and great wine on the Pacific Ocean are qualities you desire in a beachside home or condo, look no further than NAOS in Mexico’s Rivera Baja. New growth in the Baja area has gotten locals and many other California, Nevada and Arizona natives very excited; yet, no building thus far has featured the high-standard of quality and value that discerning buyers demand in today’s market…until now.

NAOS will create the area’s most sophisticated beach property for owners to enjoy. The beautiful luxurious beachfront project will promote the relaxed west coast lifestyle that those familiar with the region are accustomed to. Located in Rosarito, Baja California Norte, Mexico, this ocean-front residence differs from others in the area because of its supreme location, unique and desirable amenities, quality furnishings and construction, and “true-value.” Potential buyers can own quality beachfront property for a fraction of the cost when compared to residential properties in areas like San Diego, Los Angeles, and even other Baja projects. NAOS will offer a refreshing and lavish residential option for those buyers who wish to live, retire, or vacation on the Baja’s beautiful beaches and coastline.

Designed by renowned architects Moises Izon and Jose Sanchez of the award winning firm Central de Arquitectura, NAOS promises to be the first of its kind in the Baja region. This future community will be composed of 400 residential units split into 2 high-rise towers specifically designed to create carefree waterfront condo living. NAOS will offer a variety of living spaces including spacious one, two and three bedrooms units with dens, lofts, garden houses and penthouses. The collaboration of Italian inspired kitchens and bathrooms with spas, marble flooring, top of the line finishes and fine modern amenities make for space that is nothing short of luxury living. The units are inspired by modern yet comfortable architecture with a plethora of high-end amenities including granite counter tops, and top of the line stainless steel appliances.

In addition to the abundance of elite amenities at NAOS, the community will feature a world-class spa, tennis courts, private beach front cabanas, large indoor-outdoor pool and BBQ area, jogging trails, fully equipped state of the art gym, private kids pool, and high speed WI-FI internet.

NAOS prioritizes its residents’ enjoyment with a fully stocked two story library, private multi use rooms for business affairs, and secured children’s play area. Safety and comfort are guaranteed with secured and individualized parking, state of the art Fire and Smoke Protection Systems & 24-hour concierge and security. Environmentally friendly green components geared to improving and conserving the environment…..such as but not limited to water recycling, solar powered energy are also a large priority for the 3 phase high-rise NAOS community.

Scheduled for completion in March 2011, NAOS will revitalize the area and create a new trend in making Rosarito Baja the new Mexican hotspot for home buyers and retirees.

For more information visit www.naosliving.com or please contact Mia Jurica at (619) 307-6717, email mjurica@naosliving.com.

Most Expensive Homes In the World

Wed, 16 Jul 2008 17:24:00 GMT

1. Updown Court, Windlesham, England

$138,000,000.00

This palace is no new-comer, it has topped the list of expensive homes for over the past three years. Bigger than a hotel, the house has 103 rooms incase someone stops by for a visit. It is also home to five swimming pools, bowling alley, Movie Theater, squash court, tennis court and an underground garage.

2. Hala Ranch, Aspen, Colorado

$135,000,000.00

Owned by Prince Bandar bin Sultan bin Abdul Aziz, this is more of a palace than a ranch. The property is currently the most expensive home in the United States and sits amongst 95 acres of greenery and mountains. It is 56,000 square feet and has 15 bedrooms making it the perfect countryside getaway.

3. Maison de L’Amitie, Palm Beach, Florida

Cost: $125,000,000.00

Of course one of Donald Trump’s properties is on the list of the top 5 expensive homes. This beachside getaway in Palm Beach, Florida was actually bought at a bankruptcy auction. The Maison de L’Amitie is the result of extreme home renovations. With a 100 foot pool and 475 feet of beach front, there are plenty of opportunities to enjoy the Florida sun.

4. Tranquility, Lake Tahoe, Nevada

Cost: $100,000,000.00

This home boasts a 3500 bottle wine cellar, 19 seat movie theater, 9 bedrooms and 9 bathrooms. The 20,000 square foot house is all luxury from the floors to the ceilings and beyond. Plus, with Lake Tahoe in your backyard, what else cold you ask for?

5. Istanbul, Turkey

Cost: $100,000,000.00

Tied for fourth place, this international palace is fit for a king. Its 30,000 square feet is filled with intricate designs and lavish decorations. This estate is located on the Bosphorus or also called the Instanbul Straight, and has 64 rooms so you have plenty of space to yourself.

South Florida Bank-Owned Properties Spike 228% In Second Quarter

Wed, 16 Jul 2008 14:24:28 GMT

As federal regulators attempt to sell off assets from the failed IndyMac Bank, the number of bank-owned properties in South Florida has spiked by 228 percent in the second quarter of 2008, according to a new report from Condo Vultures® LLC.

Nearly 7,100 South Florida properties were repossessed by banks - also known in the banking industry as Real Estate-Owned (REO) properties - between April and June of 2008, compared to 2,167 properties for the same period in 2007, according to the

The second quarter activity pushed the total number of court-ordered repossessions in South Florida for the year to 11,860 properties compared to 3,510 in the first half of 2007, representing a 238 percent increase.

On a county-by-county basis, the greatest concentration of REOs is located in Miami-Dade County where 5,370 properties were repossessed by banks in the first half of 2008. By comparison, 1,665 Miami-Dade properties were repossessed in 2007, which represents a 223 percent increase on a year-over-year basis.

In Broward County where Fort Lauderdale is located, lenders repossessed 4,746 properties in the first half of 2008, up 324 percent from the 1,119 REOs in the first half of 2007.

Palm Beach County is experiencing the smallest increase in REOs with the first half total increasing only 140 percent to 1,744 in 2008 compared to 726 for the same the number of months in 2007, according to the report.

Banks generally attempt to unload newly transferred REOs quickly as the institutions are responsible not only for the upkeep of the property but the monthly expenses, including homeowners association dues, special assessments, and property taxes. These expenses are in addition to the $40,000 to $80,000 that lenders spend during the six to eight month foreclosure process to repossess a property.

Peter Zalewski is a principal with the consulting company Condo Vultures®LLC and a licensed real estate broker with Condo Vultures® Realty LLC. Peter can be reached at 305-865-5629 or by email at peter@condovultures.com. Be sure to check out Peter’s blog at CondoDump.com. Don't forget to sign up for our weekly Market Intelligence Report.

Copyright © 2008, Condo Vultures® LLC

Kids Internet Safety

Wed, 16 Jul 2008 05:01:25 GMT

Kids Internet Safety

July 16th, 2008 12:29 AM

Here are some safety tips for your children that parents can use to ensure a safe networking environment for kids.

1. Show interest - Ask questions about your childs networking.You can ask your child to help you set up your own social networking site.A great way to visit your child's page and see what's been posted.

2. Encourage Instinctive Responses - Kids usually do the right thing,which makes them be cautious against anyone who may take advantage of them online.Encourage them to avoid contact with people that make them feel unsafe.Tell them not to reveal anything online they would not want a stranger to know.Limit the postings of pictures.

3. Know Your Kids Passwords - If your child changes their password and refuses to give it out that means trouble.Insist in knowing how to access their accounts and keep their information confident.

4. Set Hours for Social Networking - Late nights are when predators prey on children.Set curtain times to network .Prefer daytime hours.

5. Be Aware of Alternate Access Points - Kids can access social networks at any computor even cell phones have internet service.Keep up with what's happening on their social networking page.

6. Excercise Your Parental Right to Supervise - You can ensure your kids safety by knowing who they are talking to online and what about.

7. Check For Photos - Click on windows'start 'search tool'pictures'music'video'the box next to pictures and photos and search.Ask your child to identify any photos of strangers that are questionable.

8. Install Filtering Software - PC Products like safe eye allow parents to block or record instant messenges,limit emails,block websites,and recieve alerts when kids post personal information online.

9. Watch for Cyberbulling - Encourage children to tell you when they are harassed online.Children need to know it is not acceptable to be a party to cyberbulling or remain silent when they know others are being harrassed.

10. Don't Lecture - If you supect any reasons for concern don't insult your child.Have a dicussion about values and why they are important.Parent's have a powerful abillity to influence their child's behavior.Never feel your involvement is excessive. www.internetsafety.com

Visit anytime www.brendakingrealtor.com

Enrique Vilca Garcilazo Real Estate Broker and Agent Associate of Perù

Wed, 16 Jul 2008 00:43:55 GMT

Estás buscando comprar, vender o invertir en bienes raíces? Has que todo el proceso sea mucho más sencillo poniéndote en contacto con:

Enrique Edgar Vilca Garcilazo
Real Estate Broker and Agent Associate

Teléfono: (+511) 784 3388
Nextel: (+511) 99 828*7143
Celular: (+511) 9 9556 6377

Gmail: e.vilcagarcilazo@gmail.com
Windows Live: vilcagarcilazo@live.com

Office Live: www.vilcagarcilazo.realtors.officelive.com
Condo: www.condo.com/vilcagarcilazo

5 Rules for Publishing an Association Newsletter

Tue, 15 Jul 2008 21:18:35 GMT

Board communication with co-owners is essential to operating a successful condominium or homeowners association. Establishing a community association newsletter to provide notice of meetings and to announce community events is a wonderful way for board members to communicate with the association members.

However, with that being said, one must recognize that when publishing a community association newsletter, it can lead to liability for the association. Here are five rules to help avoid liability when publishing a newsletter. (1) The Board of Directors must maintain control over what material gets published. Turning this decision making ability over to a “volunteer editor” could be legally hazardous to your health; (2) know which photos of members you can and cannot publish without permission. It would be a good idea to have co-owners sign a “permission slip” giving you the authority to post their picture; (3) print only verifiable facts. You do not want to publish rumors and/or hearsay, which will cause a divisive attitude to permeate the neighborhood; (4) do not print ads that violate fair housing laws; and (5) be especially careful when even considering publishing names of delinquent members. You should consult with your community association lawyer concerning the content of your newsletter and it may be appropriate for you to have him or her review it before it is being sent.

For more information contact Robert Meisner: bmeisner@meisner-associates.com; www.meisner-law.com

Ghost Towns

Tue, 15 Jul 2008 19:54:20 GMT

If exploring a condemned building gives you the chills then you should stay far away from ghost cities. Though abandoned cities are known mostly through fictional movies and literature, there are actually thousands of Ghost cities across the world. These once bustling towns are plentiful especially in the central and southern United States. In fact, there are 6,000 abandoned sites in Kansas alone.

Though the details behind some abandonment is unknown, most are linked to the depletion of natural resources, lack of transportation, and natural or man made disasters. Take a look at these ten ghost cities and the unique stories behind them.

10. Bodie, California

Bodie got its start as a mining town that was founded in 1876. As the mining industry grew, so did the once small town. By 1880, the population had soared and reached over 10,000 people. Bodie boasted 65 saloons on its main street alone and even had its own Chinatown. Mining resources began to dwindle in the early 20^th century, and even though business decreased, most of Bodie’s residents stayed put. Then in 1932, a blazing fire swept through Bodie’s business district and further condemned the city. The remaining residents moved on and the city is now preserved in a state of arrested decay. In 1961, Bodie was designated a National Historic Landmark and is open to visitors who want a glimpse into the past.

9. San Zhi, Taiwan

This futuristic pod village was planned to be a luxurious vacation spot in the Northern region of Taiwan. After numerous fatal accidents during its construction, production hit a stand still. Workers lacked money and the willingness to move forward with the project. In the meantime, Taiwan scrambled to cover up the details behind San Zhi after rumors started swirling about the haunted village. There are still no named architects or companies linked to San Zhi’s construction. Today, the alien like structures stand in remembrance of those who lost their lives while working on the village.

8. Varosha, Cyprus

You may already be familiar with Varosha, the once popular tourist area that grew into a holiday destination. Now this city in Famagusta is occupied and controlled by the Turkish military. It all began in 1974 when the Turkish invaded Cyprus and tore up the island. Residents fled but expected to be able to return to their homes within days. But the Turkish wrapped the city in barbed wire allowing only themselves and UN personnel to enter. The buildings are decaying but on the plus side, rare sea turtles are beginning to nest on the deserted beaches. The recent Annan Plan proposed for the city to be turned over to Greek Cypriot control but never materialized. Currently, the government is working on opening the “Turkish Republic of Northern Cyprus” in 2011.

7. Gunkanjima, Japan

Hashima is one of 505 uninhabited islands in the Nagasaki Prefecture of Japan. This island lies 15 kilometers from Nagasaki and is known as the battleship island because of its sea walls. In 1890, Mitsubishi bought the island in order to retrieve coal from the bottom of the surrounding sea. Twenty Six years later they built Japan’s first and largest concrete building to house the workers and protect them from hurricanes. By 1959 Gunkanjima had one of the highest population densities world wide and continued to grow. The rise of petroleum caused coal mines to shut down and Gunkanjima was no exception. Mitsubishi closed the mine in 1974 and residents abandoned the city. Now the island is a popular site for movies such as Battle Royale II and an inspiration for video games, but regular travel to the island is prohibited.

6. Balestrino, Italy

Balestrino is a unique Ghost town because it is hard to find any information on its abandonment. Town records date its establishment back to the 11^th century when it was owned by the Benedictine Abbey of San Pietro dei Monti. A castle sits atop the upper part of the town while the lower part is based around a church. In the mid 1800’s about 850 people lived in Baslestrino. The town mainly consisted of farmers who took advantage of the landscaping to grow olive trees. The 19^th century plagued Balestrino with earthquakes and landslides. In 1887 an earthquake with a magnitude of 6.7 destroyed many villages in the area and greatly impacted Balestrino. The whole town was abandoned in 1953 due to geological instability. The derelict part has remained untouched and un-accessed for over 50 years but may be redeveloped in the future.

5. Katoli World, Taiwan

This Darkeng scenic area outside Taichung opened in the mid 1980s. It was one of few theme parks with a rollercoaster and attracted many tourists. For over ten years business was profitable until disaster struck. The massive earthquake on September 21, 1999 closed the park down and killed thousands in the surrounding area. Luckily it was after park hours when the earthquake hit and no one inside Katoli World was hurt. The rides are now overgrown and unused.

4. Centralia, Pennsylvania

Incorporated as a borough in 1866, Centralia was principally employed by the coal industry until the 1960s when most companies went out of business. An exposed coal reign accidentally ignited in 1962 and started a massive underground coal fire that continued to burn through the 1970s. Problems began to arise when people reported adverse health effects from carbon monoxide and soon after a gas station reported a fuel temperature of 172 degrees Fahrenheit. In 1981 a 12 year old boy nearly plunged to his death after a 150 foot deep sinkhole opened up beneath him. A few years later $42 million was spent on relocation. Now deserted and unsafe, the fire is expected to burn for another 250 years.

3. Yashima, Japan

This imposing plateau is the second largest city on Shikoku, one of Japan’s major islands. It is also home to the famous battle that took place on March 22^nd, 1185 during the Genpei War. The top hosts the Yashima temple which is well known destination for Shikoku pilgrimages. Money was poured into the development of Yashima to encourage tourism by building hotels, parks, aquariums, and trails. When the number of visitors dropped, all the money that had been swirling around was lost in business and real estate deals. Eventually everything was shut down and residents moved away.

2. Pripyat, Ukraine

This abandoned city is in Northern Ukraine near the border of Belarus. The cities population was once 50,000 and was home to the Chernobyl Nuclear Power Plant workers. Disaster struck in 1986 and people fled due to the threat of radiation. For years after, the area acted as a museum showcasing soviet life. But in the 21^st century, the area was heavily looted- even toilet seats were taken. Pripyat won’t be safe for inhabitance for many years to come, so for now at least the city lays in decay.

1. Craco, Italy

Craco lies in the region of Basilicata and the Province of Matera. It is 25 miles inland from the gulf of Taranto at the instep of the boot of Italy. Craco dates back to 1060 when the land was owned by Archbisop Arnaldo, and the church had a strong influence over the people. In the late 1800s, this typical medieval town was ideal for wheat and crop farming and was home to 2000 people. Desperate times were caused by earthquakes and landslides that took a toll on agricultural conditions. In the early 1900s, more disasters struck and many of Craco’s residents moved to North America. Those who stuck it out eventually left in the 1960s for the nearby town of Craco Peschiera.

Florida Real Estate

Tue, 15 Jul 2008 15:00:46 GMT

Florida Realtors resume sales pitch to Britons

By SHELLEY EMLING

Palm Beach Post-Cox News Service

Monday, July 14, 2008

LONDON — With Florida's property market in the doldrums, the state is casting about for buyers anywhere it can - and there's no better place than Britain.
Four representatives of the Florida Association of Realtors are in London this week with a message for property seekers: Come to Florida if you want to find a real steal.

"We're here to tell people that prices in Florida have never been lower and that there's a huge inventory to choose from," said John Sebree, the association's Tallahassee-based vice president of public policy.
"The British are extremely important to the Florida real estate market," he said.
Britons boast great buying power because the pound is so strong against the dollar.
This is the Realtors' second trade mission to London in the last four months.
In April a group of 14 Florida Realtors visited Britain. John Mike, chairman of the Realtors Association of the Palm Beaches, led the group.
Mike is here again this week, meeting with representatives of British media outlets to pitch stories on Florida real estate.

The Florida Realtors met Monday with editors at A Place in the Sun, a British magazine featuring overseas properties. The Realtors planned to meet Wednesday with Overseas Property Professional, a trade magazine and Web site.
The American market has piqued the interest of foreign buyers.
And Palm Beach, not surprisingly, has been a focal point. Donald Trump is reportedly selling the former Abe Gosman mansion at 515 N. County Road to Russian fertilizer billionaire Dmitry Rybolovlev for $100 million.

A 2007 survey by the National Association of Realtors found that nearly one-third of its members had worked with an international client in the past year.
One-third of such buyers were from Europe, with 12 percent of the total from Britain. Florida accounted for 26 percent of all international purchasers, leading the nation.
"There are still concerns (from Britons) about property taxes being too high in Florida, but they are actually pretty low compared to places like New Jersey and Connecticut," Sebree said.

"Insurance is higher than we want it to be, but it's stabilized from where it was a year or so ago."
Realtors also are focused on working with the U.S. government to loosen visa restrictions that prohibit foreigners from living in their properties for longer than six months of the year, he said.
Still, foreign buyers are free to rent out their Florida properties when they're not being used.
Sebree said: "We think buying in Florida is pretty much a no-brainer."

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Jade Beach: One of the Newest And Most Luxurious Oceanfront Condos in Sunny Isles Beach Florida

Tue, 15 Jul 2008 12:34:48 GMT

Jade Beach Sunny Isles Is Nearing Completion For One Of The Most Luxurious Oceanfront Condos.

The newest and certainly one of the most luxurious additions to Sunny Isles is Jade Beach. This fabulous residence is nearing completion, with all closings scheduled to be completed by the end of the summer. As a result, all of the inventory, except for a few select units, has already been snatched up by investors who have recognized the amazing opportunity this luxurious tower offers to residents.

This gorgeous 51 story, 248 unit luxury tower is situated right in the center of Sunny Isles; with close proximity to Aventura Mall and Bal Harbor Shoppes. From the moment that plans for Jade Beach were first conceived, the operative word with this residence was world class. A team of world renowned interior designers and architects were retained to work on this residence in order to ensure that it truly offers the best of everything. As a result, residents can choose between one, two, three and four bedroom units complete with terraces offers gorgeous views of the ocean.

At Jade Beach, residents will be able to truly enjoy the best of everything including Smart Home technology such as interactive communication with the multi-media computer, top of the line fixtures and appliances and floor to ceiling glass to enjoy the panoramic ocean views. In times past, luxury living entailed a butler to handle a variety of activities around the home. The New Technology Integrated System available in residences at Jade Beach ensures residents are able to enjoy complete home automation and control without the presence of a butler.

From the private elevator entrances complete with finger-print access to five star concierge service, everything about Jade Beach spells luxury living. The wealth of amenities offered at Jade Beach ensures that residents never lack for activities and ways to relax. A boat shaped Sunrise Pool beckons residents to relax and while away their cares as they look out over the ocean while the Children’s splash deck, featuring interactive water features, offers plenty of entertainment for the younger crowd.

In addition, residents can enjoy a health club that is truly state of the art, featuring digital technology and cutting edge personal fitness training. A luxurious spa and lounge area also offer massage services, steam rooms and saunas.

While it is certainly nice to retreat away from the hectic pace of the rest of the world in a luxury cocoon like Jade Beach Sunny Isles, there are times when the real world beckons. During those times, residents can take advantage of a full service business center complete with conference rooms and private offices as well as media rooms.

IndyMac Bank Failure

Tue, 15 Jul 2008 02:46:25 GMT

Crisis Deepens as Big Bank Fails

IndyMac Seized In Largest Bust In Two Decades

By DAMIAN PALETTA and DAVID ENRICH
July 12, 2008

IndyMac Bank, a prolific mortgage specialist that helped fuel the housing boom, was seized Friday by federal regulators, in the third-largest bank failure in U.S. history.
IndyMac is the biggest mortgage lender to go under since a fall in housing prices and surge in defaults began rippling through the economy last year -- and it likely won't be the last. Banking regulators are bracing for a slew of failures over the next year as analysts say housing prices have yet to bottom out.

The collapse is expected to cost the Federal Deposit Insurance Corp. between $4 billion and $8 billion, potentially wiping out more than 10% of the FDIC's $53 billion deposit-insurance fund.
The Pasadena, Calif., thrift was one of the largest savings and loans in the country, with about $32 billion in assets. It now joins an infamous list of collapsed banks, topped by Continental Illinois National Bank & Trust Co., which failed in 1984 with $40 billion of assets. The second-largest failure was American Savings & Loan Association of Stockton, Calif., in 1988.
The director of the Office of Thrift Supervision, John Reich, blamed IndyMac's failure on comments made in late June by Sen. Charles Schumer (D., N.Y.), who sent a letter to the regulator raising concerns about the bank's solvency. In the following 11 days, spooked depositors withdrew a total of $1.3 billion. Mr. Reich said Sen. Schumer gave the bank a "heart attack."

"Would the institution have failed without the deposit run?" Mr. Reich asked reporters. "We'll never know the answer to that question."
Mr. Schumer quickly fired back.
"If OTS had done its job as regulator and not let IndyMac's poor and loose lending practices continue, we wouldn't be where we are today," Sen. Schumer said. "Instead of pointing false fingers of blame, OTS should start doing its job to prevent future IndyMacs."

IndyMac had been troubled for months, and investors were concerned about its possible downfall well before Sen. Schumer's comments. It specialized in Alt-A loans, a type of mortgage that can often be offered to borrowers who don't fully document their incomes or assets. The company sold most of the loans it originated, but continued to hold some on its books. As defaults piled up, IndyMac's finances deteriorated.
The bank will be run by the FDIC and reopen Monday. The FDIC typically insures up to $100,000 per depositor. IndyMac had roughly $19 billion of deposits. Nearly $1 billion of those deposits were uninsured, affecting about 10,000 people, the FDIC said.IndyMac had been troubled for months, and investors were concerned about its possible downfall well before Sen. Schumer's comments. It specialized in Alt-A loans, a type of mortgage that can often be offered to borrowers who don't fully document their incomes or assets. The company sold most of the loans it originated, but continued to hold some on its books. As defaults piled up, IndyMac's finances deteriorated.
The bank will be run by the FDIC and reopen Monday. The FDIC typically insures up to $100,000 per depositor. IndyMac had roughly $19 billion of deposits. Nearly $1 billion of those deposits were uninsured, affecting about 10,000 people, the FDIC said.
IndyMac's arc -- rapid growth, followed by an even more rapid descent -- is a microcosm of the mortgage industry. It boomed in the first part of this decade, as investors were willing to fund loans on ever-looser terms, then hit hard times when the housing market began to turn down in late 2006.
Small mortgage lenders started going under quickly, with the number of failures climbing into the hundreds. Now the fallout has spread world-wide, bringing down some of America's largest financial institutions. Bear Stearns Cos., which suffered losses on mortgage-related investments, underwent a meltdown in March and had to be rescued by J.P. Morgan Chase & Co.
Countrywide Financial Corp., at one time the nation's largest mortgage lender, saw its stock price plunge this year and was forced to sell itself to Bank of America Corp. at a firesale price.
IndyMac, in a last-ditch effort to fend off collapse after it failed to raise fresh capital, said this past week it was firing more than half its work force and closing most of its lending operations. While its shares had been tumbling since early 2007, the move was nonetheless jarring for a company that ranked as the ninth-largest U.S. mortgage lender last year in terms of loan volume, according to trade publication Inside Mortgage Finance.
IndyMac is one of the few federally insured banks to fail in recent years. Banking regulators are bulking up their staff of bank examiners and taking a tough approach toward banks that are seen as risky.
Mr. Reich, the thrift regulator, noted that the IndyMac case had some "unique" features, including the involvement of Sen. Schumer and the rapid fall in its deposits. Officials said most of the recent withdrawals came from depositors at branches, rather than those making deposits at IndyMac's online bank.
IndyMac was set up by Countrywide in 1985, but the two companies severed ties in 1997 and became direct competitors. The company's name stands for Independent National Mortgage. It was created to specialize in jumbo mortgages -- those that are too big to be sold to government-backed Fannie Mae and Freddie Mac. In 1997, under the direction of Chief Executive Michael Perry, a protege of Countrywide chief Angelo Mozilo, IndyMac set off on its own.
The company grew quickly, pioneering the issuance of so-called Alt-A mortgages to people with blemished credit histories. The loans have gained notoriety as an example of the type of lax lending that came to characterize much of the mortgage industry.

Early last year, Mr. Perry remained optimistic about IndyMac's future, insisting that the company had the resources to remain independent. At the time, IndyMac's stock was trading for about $45 a share.
But the combination of the frozen credit markets and mounting defaults on IndyMac loans steadily sapped investor confidence in the company. In February, IndyMac reported the first annual loss in its 23-year history. By this week, its shares, which ended last year at less than $7 each, were trading for 28 cents apiece.
The company was desperate for more capital but couldn't find investors willing to put fresh funds into what looked like a crippled institution.

The failure could be felt across the entire banking industry, as the FDIC will likely have to raise insurance assessments for all banks to build up government reserves. "It takes a big chunk out of the FDIC insurance fund," said Chip MacDonald, a banking lawyer at law firm Jones Day. He said that if the FDIC hikes insurance fees, that will add to already-intense pressure on bank profits.
The OTS and FDIC didn't secure any outside firm to acquire the bank's assets. The FDIC will temporarily run the bank through a new bank it has created, called IndyMac Federal Bank, FSB.
IndyMac's arc -- rapid growth, followed by an even more rapid descent -- is a microcosm of the mortgage industry. It boomed in the first part of this decade, as investors were willing to fund loans on ever-looser terms, then hit hard times when the housing market began to turn down in late 2006.
Small mortgage lenders started going under quickly, with the number of failures climbing into the hundreds. Now the fallout has spread world-wide, bringing down some of America's largest financial institutions. Bear Stearns Cos., which suffered losses on mortgage-related investments, underwent a meltdown in March and had to be rescued by J.P. Morgan Chase & Co.

Countrywide Financial Corp., at one time the nation's largest mortgage lender, saw its stock price plunge this year and was forced to sell itself to Bank of America Corp. at a firesale price.
IndyMac, in a last-ditch effort to fend off collapse after it failed to raise fresh capital, said this past week it was firing more than half its work force and closing most of its lending operations. While its shares had been tumbling since early 2007, the move was nonetheless jarring for a company that ranked as the ninth-largest U.S. mortgage lender last year in terms of loan volume, according to trade publication Inside Mortgage Finance.

IndyMac is one of the few federally insured banks to fail in recent years. Banking regulators are bulking up their staff of bank examiners and taking a tough approach toward banks that are seen as risky.
Mr. Reich, the thrift regulator, noted that the IndyMac case had some "unique" features, including the involvement of Sen. Schumer and the rapid fall in its deposits. Officials said most of the recent withdrawals came from depositors at branches, rather than those making deposits at IndyMac's online bank.
IndyMac was set up by Countrywide in 1985, but the two companies severed ties in 1997 and became direct competitors. The company's name stands for Independent National Mortgage. It was created to specialize in jumbo mortgages -- those that are too big to be sold to government-backed Fannie Mae and Freddie Mac. In 1997, under the direction of Chief Executive Michael Perry, a protege of Countrywide chief Angelo Mozilo, IndyMac set off on its own.
The company grew quickly, pioneering the issuance of so-called Alt-A mortgages to people with blemished credit histories. The loans have gained notoriety as an example of the type of lax lending that came to characterize much of the mortgage industry.

Early last year, Mr. Perry remained optimistic about IndyMac's future, insisting that the company had the resources to remain independent. At the time, IndyMac's stock was trading for about $45 a share.
But the combination of the frozen credit markets and mounting defaults on IndyMac loans steadily sapped investor confidence in the company. In February, IndyMac reported the first annual loss in its 23-year history. By this week, its shares, which ended last year at less than $7 each, were trading for 28 cents apiece.
The company was desperate for more capital but couldn't find investors willing to put fresh funds into what looked like a crippled institution.
The failure could be felt across the entire banking industry, as the FDIC will likely have to raise insurance assessments for all banks to build up government reserves. "It takes a big chunk out of the FDIC insurance fund," said Chip MacDonald, a banking lawyer at law firm Jones Day. He said that if the FDIC hikes insurance fees, that will add to already-intense pressure on bank profits.
The OTS and FDIC didn't secure any outside firm to acquire the bank's assets. The FDIC will temporarily run the bank through a new bank it has created, called IndyMac Federal Bank, FSB.

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Marina Palms: Waterfront Townhomes in Hawaii Kai, 96825

Tue, 15 Jul 2008 00:56:18 GMT

Across the street from Colony Marina is this 54-unit complex, consisting of 28 3-bedroom/2-bath and 26 2-bedroom/1-bath town homes, 888 to 1,006 sq ft, built in 1966.

Amenities include swimming pool, whirlpool and resident manager.

Sales in 2007 ranged from $439,000 to $497,000. One sale has closed in 2008 for $449,000; the maintenance fee was $407/month.

Barbara Abe, Realtor for Hawaii Kai
barbara@barbarashawaii.com
808-226-2537