Pompano Beach, FL

This is a view of the Lighthouse in Pompano Beach, Florida of the Inlet. It is a very beautiful location and I would like for others to enjoy this photo. This inlet is used by residents of Pompano Beach, Lighthouse Point residents and many in the southeast Florida area. Many boaters enter this inlet to cruise the Intracoastal waterfront homes and enjoy the daily boat parade.

I was speaking with one of my clients today about the delay in renting out his property. Like a lot of listings it received a lot of showings and interest when it was just put on the market, but then things seeem to quiet down and that listing kind of goes towards the back of your mind, if you let it.

However I have a great relationship with this gentleman and we talk every couple of days to review what is going on. I really felt the need to help him find a good tenant quickly because his last tenant, who rented this quaint little one bedroom actually ruined the apartment. The apartment was in such a sorry state that this owner had no other choice but to take the tenant's security depsoit and literally redo the whole condo.

He got rid of the dingy carpet and tiled the whole floor.

He tore out the entire kitchen and built a brand new one with all new appliances.

He even had to replace the air conditioner! The tenant never changed the filter in 2 years and it burnt out the A/C.

He finished all of this about 10 days ago and I have been trying very hard to find a tenant. We spoke around noon today and I reitereated my desire for him to find a good tenant fast, so as we were touching base I used my extensive advertising network to repost his listing every place possible.

Wouldn't you know as I was working after hours around 6:30 the phone rings and a girl called me about the property. She came right over to see it, she loved it, and she is moving in as soon as possible!

He is thrilled and I am really happy that I could help him. Being a Realtor is very rewarding when you feel like you have made a positive difference in someone's life.

-Randy Harden

Wieder Realty

Click the link to see the listing that I am refering to.

http://www.palmairerealestate.com/Pompano_Beach/Florida/Condos/Palm_Aire_Gardens/Palm_Aire_Gardens/Agent/Listing_1625416.html

Access to properties for sale and for rent in Palm Aire Country Club will never be the same. There is now one place that you can go to see virutal tours, map views, and frequently asked questions regarding Palm Aire.

I am proud to announce that www.Palm-Aire.com and www.PalmAireRealEstate.com have merged and are now one magnificent website and I dare say the best representative of Palm Aire's properties.

If you know of a better website that specfically focuses on Palm Aire Country Club in Pompano Beach Florida, please let me know.

With this merger both address will bring you to the same great website. Please check it out and let me know what you think, or if you have any tips on how I can make it even better. Feedback is very appreciated.

Thanks,

Randy Harden

Real Estate Broker

954-978-8300

Info@PalmAireRealEstate.com

Palm Aire Condo Association #1 is currently trying to change its rules for purchasing & refinancing condos, villas, and townhouses along North Palm Aire Drive. Last night there was a big meeting at the Herb Skolnick Community Center so that residents could find out more information and ask questions regarding the changes that the Board of Directors is trying to enact.

Several years ago PACC #1 changed their bylaws so that all buyers who were taking out a mortgage had to put down at least 20% in order to get condominium approval. However, given the foreclosure crisis which is occuring across the United States there have been several owners within Palm Aire that are defaulting on their loans and also cease to make their quarterly maintenance payments.

When maintenance payments are not made the whole condo assocation has to cover the expense until the property is foreclosed on and even then they may not get the full amount returned if any. This bad debt raises the cost of the overall expenses of the assocation via legal fees, interest, etc. and the Board of Directions in Condo #1 is trying to promote a solution.

Their proposed solution is that they lower the downpayment requirement to 10 percent and require a buyer to put a full year of maintenance in escrow to be held for 3 years of more (depending on late payments, etc.) While this idea sounds perfectly acceptable at first glance, there are a number of issues that remain unmentioned.

• Should a cash buyer have to put down the full year's maintenance in escrow?
• If I cannot qualify for a 10% down loan and put 20%, do I still have to pay a year maintenance?
• One year of maintenance can be anywhere from $2500 to $6000, held for 3 years would accrue a lot of interest. Shouldn't this be interest-bearing and doesn't the Buyer deserve that interest since it is their money?
• What if I do not plan to own this condo for 3 years? Where does my money go?

One of top producers, Ted Goldstein, happens to be a resident of Condo #1 and went to the meeting. We discussed this issue at length prior to the meeting and Ted proposed that the Association allow the buyer to choose path to take when purchasing. They could either:

• Pay cash with a year of maintenance to be used as soon as they buy the property
• Put 10% down with a year of maintenance held in escrow for 3 years
• Put 20% down with no further requirement

This way the condo is covered as best possible while still leaving the buyer some options that best serve his or her needs.

The vote will take place is roughly 90 days and I will be sure to post the outcome whatever it is.