Showing posts with label The Beach Club Condos. Show all posts
Showing posts with label The Beach Club Condos. Show all posts

Friday, July 15, 2011

Best Unit at The Beach Club - Now Renting !



$ 4,850 per month - for a Yearly Rental


The Beach Club II
1830 S. Ocean Drive - Apt. 3702


This is a gorgeous apartment, right on the beach.
The Beach Club is the newest development in Hallandale Beach.
Magnificent views from every corner.


Direct access to the beach;  7 pools,  the best Spa you could find in the whole area, a 2-story Gym, and all the luxury you could dream about.
The new Hallandale Village at Gulfstream, with its famous Casino and Racetrack, is just one of the attractions.


Hollywood Beach Boardwalk is a few blocks away. 5 minutes drive to Shopping Centers, Restaurants, Nightlife, and Aventura Mall, the largest shopping venue in South Florida. Fort Lauderdale Downtown and Beach,  Bal Harbour, South Beach, are just a few minutes drive away.


Floor-to-ceiling windows, open floor-plans add to this unique sensation of living in a surrounding of water and sky.


Modernly furnished and decorated, this is presently the best deal if you are looking for a Waterfront, Ultra-Luxurious Condo on the Beach.

For Full-Season rentals at a higher rate, please contact us.


 


Call: Henry B. Nathan
UNITED REALTY GROUP
(954) 296-6741
or Email: hbnathan@gmail.com
for more information.

Thursday, October 07, 2010

Great Reading - Michael Lewis - THE BIG SHORT

Just read it:

THE BIG SHORT - Inside The Doomsday Machine

By Michael Lewis.

Whoever wants to start understanding the state of the Real Estate in the US and also in the wide world, is at a loss if he thinks he can interpret the catastrophic debacle in traditional terms and historical data.

It is evident that this is not one of the regular cycles of capitalism.

Manipulation, indifference,  greed and plain ignorance from many of the players in the infamous game that brought to their knees many of this country's small investors; drove out of their homes a large percentage of American middle and lower class citizens, is the theme of this book.

Standard & Poor, Moody's rating agencies' pitiful (or reckless?)  job at guiding the public in general, mutual funds and hedge funds in particular, is a main factor. Goldman Sachs, Bear Stearns, Citigroup, Deutsche Bank, UBS, Wachovia, Bank of America are some of the names that pop up  even though they still are for some of us the symbol of finances at their highest.

The open ignoring of the principles of banking and mortgage lending by most banks, Fannie, and Feddie, the Feds,  the SEC, are still unanswered questions.

Welcome to the world of CDO's and CDS.

Read how TRILLIONS of dollars of worthless packages of sub-prime mortgages were assembled in AAA bonds, and put on the market during these "boom" years of 2005, 2006 and 2007.

CDO is a Collatelarized Debt Obligation, supposedly an" investment-grade"  security backed by a pool of mortgages. If you didn't read too much about it, it means in reality a bunch of crappy loans with very low expectations of being ever collected, that are put together, graded by Moody's as AAA and sold as first class investment securities.

Read about how the CDS (Credit Defaut Swaps), which are a kind of insurance on the CDO's , were often bought by the same "institutions" which had issued these rotten CDO bonds in the first place.
Example:  You issue a CDS in favor of an investor who is betting that  your trashy AAA CDO's will eventually have a high grade of delinquency which will drive their value to Zero or close to it.
This investor can be a hedge fund, a group of investor, another bank, or the same bank who issued the CDO's in the first place. Incredible? A Lottery? Las Vegas? I would like to believe it if most of these "elite" guys hadn't ended with hundreds of billions of dollars in salaries and bonuses.

A fascinating and exhausting reading.

And an example on how quickly we forget and how corruption, "bubbles"  and evil can perpetuate, revive, and multiply.

Michael Lewis, famous for the Liar's Poker, about the 80's (an era where at least some of the crooks went to jail), gives the reader a fascinating rough draft of this whole new era that (sorry guys)  we are still living.
The era when, instead of sending the bad guys to jail, we give them new liberties to freely  lobby our Congress, and increase at will their campaigns contributions.   

Why real estate is what it is today?

Perhaps you'll get a less clouded idea with Michael Lewis penetrating view on this "roaring decade".




Thursday, September 09, 2010

This is what I'm talking about


A few days ago, I posted some comments regarding my new property tax bill.
In essence, the City of Hallandale Beach and Broward County have chosen to substantially increase their tax rate instead of trying to adjust their budget to a new reality.

Downgrading and thrift are the way to go. Continuously raising taxes to support an inflexible path of so called "growth" is irresponsible. 
It is sad to observe that citizens' response has been almost inexistent. We are sitting back, while our pockets are being sacked. Broward is our county and Hallandale Beach is our city.
We should be able to make our elected officers  work for us, not against us. 

We are tolerating that, while services provided are diminished and degraded, our taxes go up every year.

This year will mean for many "homestead" beneficiaries, an approximate 10% increase, in a time of zero-inflation. 

Is this ridiculous? Tragic would be more like it. People losing their jobs, their homes; retirees whose savings have been almost wiped out by the economy, shouldn't be confronted with this type of issue.

I am reading today on Heraldtribune.com  which covers Florida West Coast an article about how Venice, Fl. has addressed the issue. A good example to follow.


Venice tax rate held flat

BUDGET: 4-to-3 vote means city will have to use $3 million out of reserves

VENICE, FL.  Despite advertising a potential 29 percent property tax rate increase for the 2010-11 budget, the City Council voted Tuesday to keep the rate flat.  The decision marks a continuation of a decade-long streak of either lowering or maintaining the tax rate.
Property owners will continue to pay 2.77 mills, the equivalent of $2.77 per $1,000 of taxable property value. 

The council must approve the budget and tax rate at a second public hearing Sept. 21.  After two hours of spirited debate, the council voted 4-3 to maintain the current rate.  Council members Emilio Carlesimo, Kit McKeon and Mayor Ed Martin opposed the idea. Council members Sue Lang, John Moore, Jim Bennett and Ernie Zavodnyik voted for keeping the rate the same.
"I fear we are kicking the can down the road," said McKeon, before the vote, expressing concern about dipping into savings to fund the operating budget. "To be fiscally responsible, we have to maintain the proper fund reserve."  But Lang, who is up for re-election along with Zavodnyik, said with the economy struggling, residents cannot pay more. Reading tax statements from residents who have seen their properties decline in value while they are paying more in property taxes, Lang said the council needs to cut spending and use reserves.  "We have a reserve fund" that is in good shape, Lang said. "I would rather have people go and spend that money in our local economy." 

The council will have to use about $3.1 million of its $9.2 million or so in reserves to sustain its $22 million budget for the fiscal year beginning Oct. 1. It will collect about $800,000 less in taxes than last year because of declining property values.

 City Manager Isaac Turner has laid off four employees and left jobs unfilled to balance the budget. He expressed concern about deficit spending.  "We are below what your goal is for reserves," Turner said. "We will need to immediately identify where we are going to make that up."  Before the vote, Zavodnyik proposed eliminating city provided health insurance for council members. Carlesimo made a motion to eliminate council member pensions, provided by the state after six years.

City Attorney Bob Anderson said the council could not vote on the measures because they did not advertise them in advance.  Before the vote, some residents urged the council to not raise the property tax rate.  "It's been nothing but increases," said Mike Rafferty, a resident of Bay Indies, the city's largest mobile home community.

He said the county appraised the community about 18 percent higher than last year. A tax rate increase would mean his taxes would go up, he said.  "If you don't want to take it out of a rainy day fund, don't take it out of my pocket," he said. 

Venice Taxpayers League President Gary Budway said the city should have cut the budget across  the board and suggested Venice consider combining its fire department with the county and hiring a city attorney, rather than contracting with Anderson.








Tuesday, August 10, 2010

Don't worry it's just your money!


Throughout this blog, I have always advocated for thrift and good management of taxpayers' dollars by our cities, counties and the state of Florida.

As a real estate agent, I observe every day how excessive taxation has a major effect on home-ownership. At about 2% per year on the value of your home, added to Florida high insurance premiums, (as well as out-of-control condominium fees) it is an overwhelming factor that often discourages buyers.
Property Taxes and routine expenses are often higher than the basic monthly payment of the related mortgage loan.
The generosity with which taxpayers' dollars are spent with no other consideration than "if it's there we must get it", is far out of the traditional values of thrift and austerity that should be the norm in times of recession, hardship, and high unemployment.

The same criteria we follow in our home budgets should be applied by our city commissioners.
They can’t just spend and seek the revenue later. Because most possibly, you and me will be stuck with the bill.

I heard that a former manager of Hallandale Beach, who was making an outrageous salary, (and doing a pretty bad job), was fired at an usually high cost to the city.
The present interim manager assumed his functions just a few months ago.
He will possibly get a bonus of $15,000.
Why is it that the city had to consider this bonus request so soon?
Do you ask your boss for a raise two or three months after you were hired?

Trust me, I hate getting involved in local politics. I would just like to see less pomp and circumstance, less meetings and bureaucracy, less formalities, forms, regulations, and a more down-to-earth management of citizens' money.

Our elected officers should start understanding that they have a mandate to gradually reduce their cities' budgets, because they are inflated and unaffordable.

In South Florida, we are famous for our dozens of municipalities all along the coast, each with its commissioners, offices, firemen, water departments, police departments, and miscellaneous levels of managers, technocrats, and bureaucrats.
While this proliferation of local governments could, in some people's minds, be an advantage of de-centralized government, don’t you think that we can't afford it anymore? Is this really a good idea?

I'd like to hear some comments.

I read this on August 9th, in The Miami Herald:
HALLANDALE BEACH
IS MONEY NO OBJECT HERE?
You would think city commissioners and Mayor J.C. would know better by now. In 2007 the commission and the Mayor gave themselves a whopping $55,000 pay raise without bothering to notify the public first.
As a result, a hailstorm of outrage from local residents rained down on City Hall, and the chastised officials rescinded the raises.
But now city officials are up to the same old game: Hastily and secretly spending taxpayers' money like it grows on trees. First, they were so desperate to get rid of former City Manager Mike Good that they agreed to pay him an overly generous severance package worth $366,653 in total.
Now, the mayor and commission majority want to reward interim City Manager Mark Antonio with a $15,000 bonus on top of his $145,000 annual salary. And, if it hadn't been for Commissioner Keith London, they would have signed the bonus check without benefit of public notice or input.
The talk of a bonus for Mr. Antonio came at the end of long budget workshop session that lasted past midnight last week. Residents had left, and while a video camera was recording the session, the broadcast of the meeting had gone off the air.
The commission turned to an evaluation of Mr. Antonio and generally praised his work. That prompted the interim manager to ask for a $25,000 bonus. Mayor Cooper countered with an offer of $10,000.
Eventually the $15,000 figure was negotiated.

That's when Mr. London blew the whistle for a timeout, saying a vote on the award of the bonus should happen in a public meeting for residents to observe and comment on.
So, eager for some reason to ensure that Mr. Antonio gets his bonus sooner rather than later, the commission set a special meeting for 6 p.m. Monday at City Hall for the bonus vote.
Mysteriously, they just couldn't wait for the next scheduled commission meeting.
Commissioners and Mayor Cooper had better be prepared to justify why Mr. Antonio deserves a bonus simply for doing what he was hired to do.



Tuesday, July 20, 2010

More about Red Light Traffic Cameras

I am what you can say a reasonably "good driver".

Throughout my 40+ years driving experience, I have accumulated very few and only minor violations or parking tickets.

So why my "unbalanced" anger about these traffic cameras? It's subconscious I guess.

I am not an aggressive or even a combative person. But, for some reason, I feel that somebody has gone over the top this time.

Perhaps I should direct my wrath on the big bankers, the CDO's creators, or the finance crimes perpetrators.

But traffic cameras might just be a symbol of how honest people can be punished and penalized, while their country is in turmoil, a victim of greed and abuse.

While honorable and law-abiding citizens' life savings have melted in all kinds of creative investment schemes, devised by our educated elite and rubber-stamped by regulators and authorities; when truthful persons of all strata of society are struggling with the mortgage meltdown and the unemployment disaster, all we need now is that our local "elite" adds insult to injury.

Am I exaggerating?

Of course.

I read more comments about traffic cameras:

From "TheNewspaper.com" - July 17, 2010

Traffic Cameras Worldwide Go Haywire
Speed cameras and red light cameras in the US and Australia accused innocent motorists of wrongdoing.
Traffic cameraSpeed cameras in California, Florida and Australia are not living up to their image of providing infallible evidence of traffic crimes. To the contrary, officials must find clever excuses to cover for the mistakes that are uncovered with increasing frequency.
In Hallandale, Florida, the private firm American Traffic Solutions mailed a $125 ticket to Phil Kodroff accusing his car of "running a red light" at the intersection of Federal Highway and Hallandale Beach Boulevard on May 22. The Fort Lauderdale Sun Sentinel reported that Kodroff's vehicle committed this crime at the speed of 0 MPH.
To explain the lack of speed noted on Kodroff's ticket, Hallandale Beach police spokesman Dwayne Flournoy told the Sun Sentinel, "Zero doesn't mean zero."
A motorist in Capitola, California received a red light camera ticket after his car stopped and made a legal turn from 41st Avenue onto Clares Street, the Santa Cruz Sentinel reported. Police once again struggled to come up with an explanation.
"It may have not been the person involved that tripped the light," Capitola Police Sergeant Matt Eller told the Sentinel.
In San Diego, red light cameras are randomly flashing motorists who have done nothing wrong, generating up to thirty complaint calls every day. Local police told KGTV-TV that the flashing happens when the red light camera reboots.
A Queensland, Australia electronic engineering teacher is fighting an A$200 speed camera ticket he says is clearly bogus. The Gold Coast News reported that Philip Williams' motorcycle photographed in Robina last November at 79 km/h (49 MPH) in a 60 (37 MPH) zone. Williams argued that even the radar device's manufacturer, Gatsometer, said the device should not be used on a curve. Moreover, other vehicles are visible in the citation photograph, and radar is unable to determine which vehicle produced the speed reading (the citation shows a Gatso radar, not a lidar device).





Henry B. Nathan is a Florida Realtor at United Realty Group Inc.



where you can search for Aventura Condos, Florida Condos, Sunny Isles Condos

Monday, July 12, 2010

Traffic Cameras - Call it Big Brother's New Tax

Do you still think that Hallandale Beach the "City of Choice" ?

Not anymore for many drivers who, as you will read below, will try to avoid Hallandale's cameras trap.

One Million Dollars in six months! This is the take of the city and they have recently increased the fine from $125 to $158, so that they can share part of this revenue with the State of Florida.

And that's just the beginning.

$158 for not slowing down enough at a red light right turn, seems so excessive and such an hypocritical money grab!

Just more money-generating, privacy-invading, shameful scheme.

Every little chip hammered out of our Constitution brings us one step closer to George Orwell's and Aldous Huxley's perfect universes.

I'll take freedom over the so called "safety" any day of the week.


Big Brother has many Eyes!







Here is what I read today in the Sun Sentinel:

Rolling right turn could cost you $158

Red-light cameras are helping Hallandale Beach raise $1 million

In theory, red-light cameras are supposed to be about safety, curbing reckless drivers from blowing through intersections at high speeds.

But the reality at one South Florida intersection seems more like a game of "Gotcha," with an astounding 93 percent of violations going to unwitting drivers making rolling right turns on red. "This feels like a money grab," said Phil Kodroff, one of almost 11,000 drivers to get snagged by Hallandale Beach's red-light camera since it started snapping away in January.

The city's take by mid-June: almost $1 million.

"Let's be honest about it, we're here to gouge you," said Hallandale Beach Commissioner Keith London, an opponent of red-light cameras. "To say it's about public safety is pretty disingenuous. It's all about the revenue." Love them or hate them, the cameras soon will become fixtures of South Florida life. Now that the devices have gotten the green light from the Legislature and Gov. Charlie Crist, more cash-strapped cities will be turning to them for easy money.

In the past week, Fort Lauderdale, Hollywood and Boynton Beach have moved forward with plans to install cameras. They will join Hallandale Beach, Pembroke Pines and West Palm Beach, which already have cameras running. Royal Palm Beach installed cameras in November but has been issuing only warnings; fines likely will start by September. Under the law that took effect July 1, fines for the first offense increased to $158 from $125, with the money now divided between the state and cities.

"The mentality of the South Florida driver is going to have to change," said Mark Antonio, interim city manager of Hallandale Beach. Said Hallandale Beach Police Maj. Dwayne Flournoy: "It's the 'Halo effect.' If you get compliant at one intersection, your behavior will change at all the others."

Kodroff, of Hollywood, said his behavior has changed: He is avoiding Hallandale Beach's camera intersection at Federal Highway and Hallandale Beach Boulevard, along with the businesses on that corridor.

After a steak dinner at the Gulfstream Park casino complex May 22, Kodroff thought he had an uneventful drive home to his beachfront condo. A month later, he opened his mail to find a $125 ticket. His speed when he made the right on red onto Hallandale Beach Boulevard, according to the violation notice: "0." "It's not sensible," Kodroff said. "I hit my brakes, I thought I came to a full stop."

A Miami-Dade judge put the brakes on the cameras in February, when he ruled that Aventura's program was improper. But legislators rewrote state law to allow them. Fines are sent to the registered owners of vehicles. The owners can appeal or get the fine transferred if they weren't driving. Under the new law, the vendor no longer gets a percentage of revenue, but a fixed monthly rate. American Traffic Solutions of Scottsdale, Ariz., dominates the market, managing the programs for all the South Florida cities.

Camera advocates say they make red-light runners think twice before blowing through intersections, reducing devastating T-bone crashes. But critics say the cameras could spur an increase in rear-end collisions, as people slam on their brakes at the last second. "If it's used in the right context, catching people who blow through a light, I don't have a problem with it," said Kodroff, who paid his fine without disputing it. "But getting people making a right on red, if they stop after the crosswalk or are going two miles per hour, seems a little shady."

Hallandale Beach is alone in enforcing right-turn violations

The Sun Sentinel - July 10, 2010 – By Michael Mayo.


Henry B. Nathan is a Florida Realtor at United Realty Group Inc.

Visit my websites: GoldenIsles-homes.com



Friday, May 28, 2010

Books I'm reading

The Jews of Arab lands
A History and Source Book
By Norman A. Stillman - 1979

Some might know that I am an Egyptian Jew.

The subject, therefore, has periodically fascinated me.

Norman A. Stillman, an Associate Professor of History and Arabic at the State University of New York at Binghamton, has written a classic book of reference on a subject that has not attracted as much attention as it should. At least, this is the opinion of people like me, who are very close to becoming the "Last of the Mohicans" of a millenarian civilization in the lands of the Middle East.

In our days of erudite analysis and opinions about the roots of the Israeli-Arab conflict, re-reading this book can put them in a new perspective.

While it is generally accepted that Jewish life under Islamic rulers was fairly acceptable in contrast with medieval European persecutions, Norman Stillman's book brings about some significant facts that could definitely alter this line of thought.

The book is divided in two parts: the History and the Sources.

I was mostly interested in the Sources which is a vast and rich collection of translations and excerpts of Notes and Documents now existing in Archives, Museums and Public Records.

While I must acknowledge the often more tolerant Islamic rulers, Jews as members of the "Dhimmis" or non-Muslim minorities, were in fact a discriminated and persecuted part of that society, with variable experiences and rights according to the ebb and flow of thirteen centuries of Arab and Turkish rule. So, if you heard of pogroms, massacres and injustices in the lands of Europe, they have also existed here.

Both parts of the book are enlightening. Of course, the book was written by a Jew.
But Stillman's intelligence and wide perspective validate this substantial contribution to Middle East History.


This is not the usual posting on a real estate blog. But this is also my personal blog and I have been told that I can post here whatever goes through my mind.
It doesn't mean that you have to stop selling or buying homes from me. God Forbid.
Take it as a cup of Turkish coffee, while we take a pause and relax.

Reading books is sadly an "endangered species" in human culture. Lately, I am reading more books and less newspapers, websites, and magazines. Don't ask why.

Commenting about a good book is perhaps as good as giving my friends a good restaurant address, do you agree?



Henry B. Nathan is a Florida Realtor at United Realty Group Inc.
Visit my website: Golden-Beach-Homes.com
where you can search for Golden Beach Real Estate

Wednesday, April 21, 2010

They will never give up!

Look at what I have read today:

The amount of cynicism is infinite, but we are getting used to it.


So, these insurance companies are so, but so worried that Citizens, (the state sponsored Property Insurance company which insures a large proportion of our homes against hurricane risks), could get in trouble. Actually Citizens is their competition and they are doing fine.


Listen to this: “Floridians would be faced with even higher assessments from Citizens. We simply can’t afford to let that happen,” said Jay Newman, chairman of Davie-based Sawgrass Mutual Insurance Co.


Have these insurance companies suddenly become our new public advocates?

What they can't or do not want to afford is losing the business of Floridian homeowners who would be caught under their grip without remedy if these bill are ever passed.

These insurance companies have been trying to raise their rates for a long time. Even though we haven't had a major hurricane in five years. Not only so, but they now also want to limit the consumers' claims, by:

"reining in" the PUBLIC ADJUSTERS (because they are too friendly to the consumer - you're right: collect more and pay less is good for business)


And last but not least, we are not dupe because:

" Both bills also call for insurance rate hikes, an issue downplayed by the group."

This is in reality the bottom line and all what really matters. These are powerful corporations and their ultimate goal is to make money at any cost and as much as possible.

We all understand that. So don't try to fool us into all this nonsense. They want to make more money, that's all.

This is what I read in the news today:

A Tallahassee-based organization that represents Florida insurers is urging state lawmakers to pass legislation they claim will shore up the property insurance market.

Without passage, the Property Insurers CEOs Group claims that Floridians will end up “saddled with billions of dollars of debt, should a major storm strike the state.”

The group, which comprises CEOs representing 21 insurance companies statewide, held a news conference Wednesday morning to warn that, with just two weeks left before the end of the legislative session, systemwide changes are desperately needed before hurricane season begins June 1.

The group is urging passage of Senate Bill 2044 and House Bill 447, which, among other things, impose a three-year limit on hurricane claims, require that insurance payments be used to repair homes damage by a hurricane or sinkhole, eliminate frivolous sinkhole insurance claims, address fraud and strengthen laws to guarantee the solvency of insurance companies.

Both bills also call for insurance rate hikes, an issue downplayed by the group. Instead, they noted that, if insurers can’t attract enough capital, more Floridians would be dumped into Citizens Property Insurance Corp., the state-run property insurer of last resort.

“Floridians would be faced with even higher assessments from Citizens. We simply can’t afford to let that happen,” said Jay Newman, chairman of Davie-based Sawgrass Mutual Insurance Co.

Members said that even though Florida has not had a major hurricane in several years many private property insurers are not building the capital reserves that would be needed should a big storm, or a series of storms, hit the Sunshine State. “If a catastrophic storm strikes the state, it will be left to residents to pick up the difference in the form of assessments added to their insurance premiums,” the group claims.

The group said that, according to figures from the Florida Office of Insurance Regulation, 52 state domestic property insurers and the Florida subsidiaries of three national carriers had underwriting losses of $750 million last year, despite the fact that there were no hurricanes.

The group also is calling for public adjusters to be reined in.

“There are many good public adjusters and they serve the public well in terms of language barriers, we recognize and respect that. What we don’t respect is fraud, invented claims,” said Bob Ritchie, CEO of Tampa-based American Integrity.

David Beasley, president-elect of the Florida Association of Public Insurance Adjusters, said his organization has been working on compromises and agreed language to the legislation that will benefit not only consumers, but also the insurance industry.

“A lot of times, we are painted with a broad brush that doesn’t reflect the best efforts,” he said. “A lot of public adjusters are there to support consumers first. Sometimes, that comes in opposition to carriers.”

Beasley said that, while there are people in any business who “take shortcuts,” his organization has always supported initiatives including tougher licensing and education standards.

Source: South Florida Business Journal – April 21st, 2010


Henry B. Nathan is a Florida Realtor at United Realty Group Inc.


Visit my website: http://www.condo-southflorida.com


where you can search for Aventura Condos, Florida Condos, Sunny Isles Condos

Tuesday, April 20, 2010

Compassionate Legislators at work?

In our best interests, God forbid.

I just read some incredible news. To "get the real estate back on track" this is what they had come up with.

For the Florida Bankers Association it's just business.

As it is to charge consumers 38.9 billion dollars in overdraft fees in 2009 (approximate total charged in the US).

Or to gamble our savings in "derivatives" speculation that drives the whole country to the brink of ruin.

Here is what I read today. And I hope it 's just a false alarm.

Foreclosure bill rouses rally

From FloridaRealtors.org – April 20, 2010 – Lawyers and consumer advocates plan a rally in Tallahassee on Wednesday to protest a controversial bill that would speed up foreclosures in Florida.

The legislative bill would allow lenders to foreclose on homeowners without approval from a judge in as little as 90 days.

It appears to have stalled, but the group said it wants to send a message to legislators. “Do not take away valuable consumer protections,” the lawyers say in a written announcement. “We want to work together to solve the current crisis.” One of the lawyers organizing the event is Matthew Weidner of St. Petersburg. He says hundreds, possibly thousands, will attend.

“People feel insecure about their futures and finances,” Weidner said. “This is an issue that touches everyone.” House Bill 1523 would allow lenders to skip legal proceedings unless the borrower requests the foreclosure go through the courts. Florida law requires a lender to file a foreclosure lawsuit and have the foreclosure granted by a judge. There are nearly 500,000 pending foreclosure cases in Florida, among the worst in the nation. Because of the backlog, foreclosures can take months or years. Critics say the bill significantly shortens the foreclosure process, making it more difficult for troubled borrowers to save their houses. They say the bill would not help the backlog of foreclosures because it applies only to new cases.

Supporters say it would help judges and be good for neighbors weary of long-vacant houses in their community. There are 30 states that have a nonjudicial foreclosure process, allowing some lenders to foreclose on properties in as little as a month. Anthony DiMarco, executive vice president for governmental affairs for the Florida Bankers Association, said lenders hope the bill will pass. “We’re disappointed that it may not pass this session,” DiMarco said. “But we understand that we’re making a major change to the law. What we’re proposing won’t solve everything, but we can’t get the real estate market back on track until we deal with these foreclosures.”


Henry B. Nathan is a Florida Realtor at United Realty Group Inc.
Visit my website: http://www.condo-southflorida.com
where you can search for Aventura Condos, Florida Condos, Sunny Isles Condos,