Something a Little Bit Different

Hi everyone. I have been writing this blog for nearly two and a half years now, and I appreciate all of you that have taken the time to read my thoughts on many different things. I am amazed every month at how many people actually visit this site when I look at the statistics. The majority of the time I am writing about real estate. I do think that is important especially because I have knowledge on the subject. And, I love to provide information or help to those that are interested. But this post on my blog is something a little bit different.

I received an email today from a friend that made me feel really good and positive after reading it. For those who have never read it before, I hope it does the same for you.

Two men, both seriously ill, occupied the same hospital room. One man was allowed to sit up in his bed for an hour each afternoon to help drain the fluid from his lungs. His bed was next to the room’s only window. The other man had to spend all his time flat on his back. The men talked for hours on end. They spoke of their wives and families, their homes, their jobs, their involvement in the military service, where they had been on vacation. Every afternoon, when the man in the bed by the window could sit up, he would pass the time by describing to his roommate all the things he could see outside the window. The man in the other bed began to live for those one hour periods where his world would be broadened and enlivened by all the activity and color of the world outside. The window overlooked a park with a lovely lake. Ducks and swans played on the water while children sailed their model boats. Young lovers walked arm in arm amidst flowers of every color and a fine view of the city skyline could be seen in the distance.

As the man by the window described all this in exquisite details, the man on the other side of the room would close his eyes and imagine this picturesque scene. One warm afternoon, the man by the window described a parade passing by. Although the other man could not hear the band - he could see it in his mind's eye as the gentleman by the window portrayed it with descriptive words. Days, weeks and months passed.

One morning, the day nurse arrived to bring water for their baths only to find the lifeless body of the man by the window, who had died peacefully in his sleep. She was saddened and called the hospital attendants to take the body away. As soon as it seemed appropriate, the other man asked if he could be moved next to the window. The nurse was happy to make the switch, and after making sure he was comfortable, she left him alone. Slowly, painfully, he propped himself up on one elbow to take his first look at the real world outside. He strained to slowly turn to look out the window besides the bed. It faced a blank wall.

The man asked the nurse what could have compelled his deceased roommate who had described such wonderful things outside this window. The nurse responded that the man was blind and could not even see the wall. She said, "Perhaps he just wanted to encourage you."

Epilogue: There is tremendous happiness in making others happy, despite our own situations. Shared grief is half the sorrow, but happiness when shared, is doubled. If you want to feel rich, just count all the things you have that money can’t buy. "Today is a gift. That is why it is called The Present."

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com

Today's Mortgages

Now days besides all the questions I get about our South Florida real estate market, I'm getting more and more questions daily about mortgages. So hopefully the following information will give you a little better understanding of this topic.

When the real estate market was extremely hot a few years ago and property values were going up sometimes twenty to thirty percent a year, banks and mortgage companies were very aggressive and lenient on their lending requirements. It wasn't uncommon to see investors with loans outstanding that equaled sometimes ten to fifteen times their yearly income. The main reason for this was mortgage fraud. South Florida is the mortgage capital in the United States. Because of so much fraud taking place, there have been approximately seventy percent more foreclosures in Dade County this year compared to last year.

So how does this affect you? It makes things a lot more difficult in order to get a loan. Just two years ago, if someone had average credit and very little money for a downpayment, it was extremely easy to get a mortgage - with very very little documentation. Today someone with excellent credit, a good downpayment, and even a previous relationship with a bank, a lot more documentation is necessary. In fact, since things have been changing so much in the mortgage industry, a lot of people that were approved a couple of months ago are now no longer able to get loans. That is why it is now more important than ever to do business with a bank or mortgage company that you hear good things about from family, friends, co-workers, business associates, etc. Below are most of the things needed for a home loan application. Since many banks are different, other things may be necessary.

1. Two years residence history
2. Two years employment history
3. Two years W-2s and current pay stubs
4. If self-employed, two years tax returns
5. Most recent two months bank/investment statements for all accounts
6. Current loans/debts listing names, addresses, account numbers, payments, and balances
7. Loan information on other owned real estate
8. Purchase agreement/offer to purchase new home or property

Finding a home and a loan are becoming more and more complicated in today's changing real estate market. Therefore, it is very important that you choose the right person to help you with probably the biggest purchase of your life.

Amit Bhuta
Real Estate Helper
Kendall Village Homes
(305) 439-3031
www.DadeCountyMLS.com