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The guidelines made reserve studies mandatory for all newly converted, non-gut rehabilitation condominium developments to be eligible Fannie Mae project approval. [18] All other types of condominiums have the option to submit a compliant reserve study or must add a budget line item for reserves equal to 10% of the yearly assessment income.
The HPI is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same properties in 363 metropolises. This information is obtained by reviewing repeat mortgage transactions on single-family properties whose mortgages have been purchased or securitized by Fannie Mae or Freddie Mac since January ...
Fannie Mae, a federally chartered companies that helps determine who qualifies for home mortgages, has for at least two years maintained a confidential database of condo buildings that it won’t ...
The most current incarnation of the URAR is the Fannie Mae Form 1004 [1] updated for March 2005. It is considered a full appraisal with all three approaches to value, cost approach, sales comparison approach, and income approach. [2]
Many condominium associations in Florida and across the country have been surprised to learn in recent months that their buildings have been blacklisted by the government-sponsored Fannie Mae ...
The firm also maintains offices in Broward and Palm Beach counties, and its attorneys focus on real estate, community association, construction and insurance law. www.SiegfriedRivera.com , MHyman ...
A 100 GRM (monthly rents) = 8.33 GRM (annual rents). An 8.33 GRM calculated on annual rents suggests the gross rent will pay for the property in 8.33 years. The common measure of rental real estate value based on net return rather than gross rental income is the capitalization rate (or cap rate). In contrast to the GRM, the cap rate is not a ...
You can search for VA-approved condos in your state through the U.S. Department of Veterans Affairs (VA) search tool. Simply check off “Approved” and then select your state for a list of projects.