About Saint Petersburg's Downtown St. Petersburg

The Women's Tennis Association will keep it corporate headquartersin downtown St Peterburg Florida. They just signed a new lease at the City Center, which is also home to Northern Trust Bank and is across from Signature Place condominium. The WTA was founded by Billie Jean King in 1973 and is the organizing body for womens profesional tennis. WTA governs the WTA Tour whch is an international professional tennis tour for women.

An $8.5 million renovation of the City Center, which includes a fitness center, has generated 65,000 sq ft of new leases, raising the occupancy rate from 45% to 70%.

PURCHASE AND REHAB YOUR HOME IN SAINT PETERSBURG FLORIDA WITH THE FHA 203(K) LOAN - Most home buyers are turned off at the sight or even thought of buying a fixer-upper; a foreclosure or an older home today. However, educated and informed home buyers are utilizing the FHA 203(k) loan to buy their new home and fix it up with no additional out-of-pocket expense.

The FHA 203(k) loan is a tool that savvy home buyers, successful contractors, Realtors and mortgage originators have been using since 1978. An FHA 203(k) loan is very similar to the traditional FHA loan. The only real difference is that with the FHA 203(k) loan, the home buyer is adding money to their mortgage balance to finance-in any repair/improvement cost.

Whereas the traditional FHA loan requires that certain repairs be done before the home is purchased, the FHA 203(k) loan allows the home buyer to purchase their home and complete the repairs after the transaction closes.

The other traditional FHA qualifications (appraisal guidelines,seasoning rules,credit qualifications, etc...) still apply. But with the FHA 203(K) loan, a home buyer can fix up his home and not have to worry about the additional out-of-pocket expenses for the repairs/improvements. What a brilliant way to purchase a fixer-upper!

HERE ARE THE REASONS SMART HOME BUYERS ARE CHOOSING TO GO WITH THE FHA 203(K) LOAN

1. Better opportunities for a great financial deal on a home purchase

2. Allows buyers who are approved for an FHA loan to buy properties that would not otherwise qualify

3. Allows buyer to put personal touches into the interior/exterior making it feel like more of a home

4. Sellers do not have to pay for repairs prior to listing the property if they do not care to

5. There is less competition to buy fixer-uppers which forces sellers to accept lower offers

6. FHA loans are assumable; so when buyers go to sell house it will be easy to market.

Refinances for Under Water Home Owners In Saint Petersburg Florida

Home Owners who owe more on their homes than the property is worth can refinance if the loan on their home is held by Fannie Mae or Freddie Mac.

To find out if your mortgage is held by Fannie Mae or Freddie Mac simply input your address into the following sites to find out.

Is My Mortgage Owned By Fannie Mae

Is My Mortgage Owned By Freddie Mac

Loans for Commercial and Multi-Unit Properties in Saint Petersburg Florida

The process for obtaining a Commercial Loan begins with the entry of an EXECUTIVE SUMMERY FORM.

The form covers several important areas of information that are used to conduct a search of available lenders and their Rate and Terms for a particular loan type.

1) Contact Information

2) Property Description

3) Additional Collateral

4) Borrowers Desired Loan Terms

5) Personal Information Via Resumes, 1003's and Financial Statements for all borrowers

6) If it is income producing then a Rent Roll or Profit and Loss Statement is needed

7) Credit Files all borrowers

8) Property Appraisal

9) Use of Funds Statement

10) Transaction Description and Exit strategy

Meet Dale Chihuly here in St Petersburg tomorrow, Sunday, May 7, 2011. Chihuly will be visiting the Morean Arts Center's Chihuly Collection at 400 Beach Drive NE in downtown St Petersburg. He'll be signing his new catalogues (maximum one signing per purchase per person) from 1 to 2 pm. Over 100,000 visitors have been through the Chihuly Collection since its opening last July.

And while you're downtown, just around the corner visit The Gift Box, which just opened this week at 400 Beach Drive NE. It's a delightful place to shop for gifts, with a constantly changing display of attractive gifts. Most of the website links aren't active yet, so stroll through and find just the right gift, whether you play to give it away of keep it as a gift to yourself.

If you want to live in downtown St Pete and enjoy these things every day, contact The Simms Team at ALVA International, Inc. real estate, at 238 Beach Drive NE.