When applying for a bank loan, ask these 3 questions

One of the markers of this post-recession, so-called recovery has been the practice of de-leveraging. Across the economy, from consumers to businesses large and small, debt has become something to avoid.

This trend has manifested in a dramatic drop in bank borrowing by small companies.

Indeed, for more than a half decade, survey after survey has shown that less than 5 percent of business owners report that their borrowing requirements have not been met, while the majority say emphatically they don’t want or need a loan. Consequently, there’s a pretty good chance your business hasn’t made a loan request to a bank in a while.

But the economy will eventually kick into an expansion phase, and what has become no less than a de facto moratorium on borrowing won’t last forever. And since most small business growth capital comes from bank loans, even for well-capitalized firms, it’s always good to revisit a few banking relationship fundamentals.

But don’t worry. If you’ve never asked a banker for a loan, or if it’s been a while, getting a bank loan is a lot like the process of qualifying a prospective customer.

For example, you want to know these three things:

1. Who decides?
You have the right to ask who is going to make the decision on your loan. Can your loan officer decide, or will it go to the local loan committee or somewhere else? Why do you care? The more people involved in the loan approval process increases the scrutiny of your deal, which means more questions and more time for you to budget from proposal to answer.

2. What do they need?
Your banker will ask for personal and business financial information. They might accept last year’s business numbers, but they could also ask for an interim report. Depending on the size of your request and your plans for the money, they may ask for a business plan. If the loan is for real estate, a current appraisal will be required.

Don’t give the bank more than they ask for, but give them everything they ask for. Remember, the quicker your banker gets the information, the quicker you’ll get an answer.

3. How do they want it?
Ask your banker what information can be presented verbally and what needs to be in writing, whether hard copy or electronic. Whether you’re borrowing $5,000 for a computer or $5 million to buy out a competitor, knowing as much as you can about the loan approval process will significantly improve your chances of not only getting a quick answer, but a yes.

Write this on a rock
Qualify a bank like you do customers, and be sure to do your homework.

(Ref: http://www.bizjournals.com/southflorida/how-to/growth-strategies/2015/07/when-applying-for-a-bank-loan-ask-these-questions.html?page=all)

PARAMOUNT Miami Worldcenter! An iconic luxury urban living experience...

Welcome to PARAMOUNT Miami Worldcenter! An iconic luxury urban living experience, part of one of the two largest private developments in the US territory, with nearly 30 acres!MWC_Aerial

It's time to discover PARAMOUNT! The only residential tower in Miami Worldcenter, the largest most highly anticipated project of the decade that will be THE most exciting and vibrant urban development in the nation. Nearly 30 acres that include world class dining, shopping and entertainment. Surrounded by the Arts and Museum districts as well as The Port of Miami at your doorstep... We proudly bring to you a true city within a city. MIAMI WORLD CENTER IS THE SECOND LARGEST PROJECT IN THE US.. TERRITORY!

PARAMOUNT redefines luxury and fun by creating an environment both sophisticated in design and limitless in excitement and entertainment. You can expect elegant finishes and brand standards such as 10FT ceilings, private elevators, full laundry rooms, dynamic floor plans and dramatic social areas. PARAMOUNT is a true testament to luxury living in a sea of standard and minimalistic design.

For more information, or to schedule a private showing, call: (786) 525-9430.

Lazaro Lopez
Fortune Int'l Realty
1390 Brickell Ave, Suite 104
Miami, Fl. 33131
(786) 525-9430
http://www.LazaroLopez.com
http://www.MiamiPropertyConsultant.com
http://about.me/lazarolopez

International Sales Dollar Volume Increases as More Upscale Buyers Enter Market!

While total unit sales from international home buyers decreased from last year, total sales dollar volume increased 13 percent, according to the National Association of Realtors® 2015 Profile of Home Buying Activity of International Clients .

For the period of April 2014 through March 2015, total international sales were estimated at $104 billion, compared to the previous year's estimate of $92.2 billion. This represents 8 percent of the total existing-home sales dollar volume.

"In 2014, sales transaction to buyers outside of the U.S. dropped 10 percent, possibly due to the strengthening of the U.S. dollar in relation to international currencies and weakening foreign economies," said NAR Chief Economist Lawrence Yun. "However, the amount of money spent has increased; this means international purchasers in the U.S. have become an upscale group of buyers, spending more money on fewer homes."

In 2014, five countries accounted for 51 percent of all purchases by international buyers: China, Canada, Mexico, India and the United Kingdom. For the first time, buyers from China exceeded all other countries in terms of units purchased and dollar volume, purchasing an estimated $28.6 billion worth of property. Buyers from Canada followed with $11.2 billion in purchases, followed by India with $7.9 billion, Mexico with $4.9 billion and the U.K. with $3.8 billion.

International buyers tend to purchase more expensive properties with the average purchase price being $499,600, compared to the overall U.S. average house price of $255,600. Chinese buyers typically purchased the most expensive properties, at an average price of $831,800.

Thirty-five percent of Realtors® reported working with an international client in 2014, up from 28 percent in 2013. About 46 percent of reported international transactions were intended for primary residences, 20 percent for residential rentals, and 26 percent for investment rentals, vacation homes or both. Global buyers also purchased properties for commercial rentals and as residences for children studying in U.S. educational institutions. Indian buyers were the most likely to purchase a primary residence (79 percent), while Canadian buyers were most likely to purchase property as a vacation home (47 percent).

While international buyer clients purchased property across the nation, four states accounted for half of all international sales: Florida, California, Texas and Arizona. Florida remains the top destination for international buyers, claiming a 21 percent share of all foreign purchases; California comes in second with a 16 percent share, Texas with 8 percent and Arizona with 5 percent. Chinese buyers tended to gravitate towards the West Coast, which provides ample education, business and trade opportunities, while Canadians seeking winter vacation opportunities focused on the Southwest and Florida.

The majority of international purchases (55 percent) were made with all-cash, compared to about 25 percent of all purchases made by domestic buyers. Mortgage financing tends to be an issue for non-resident international clients because of a lack of a U.S. based credit history or Social Security number, difficulties in documenting mortgage requirements, and financial profiles that can be different from those normally submitted to financial institutions by domestic residents.

"Working with a Realtor® gives buyers from across the globe a considerable advantage," said NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark. "Realtors® who have completed NAR's Certified International Property Specialist designation have obtained specialized training and are best prepared to help clients with the unique challenges of being an international property buyer."

Realtor.com® International delivers U.S. residential listings to buyers across the global, as well as listings from international data providers and up to date information about available properties. As NAR's official property website, Realtor.com® increases exposure of U.S. properties to global markets and helps Realtors® grow their global business.

The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

Surging U.S. Property Prices Boost Americans’ Home Equity

The housing recovery is giving Americans a boost to their net worth.

Home equity in the first quarter rose to $11.7 trillion, the highest since 2007, according to a Federal Reserve report released Thursday in Washington. Real estate equity accounted for almost 14 percent of households’ net worth, the biggest share since 2008.

A surge in home prices in the past three years is helping Americans rebuild their wealth after the real estate crash stripped more than $5 trillion from household balance sheets, according to Fed data. During the last boom, from 2001 to 2006, equity as a portion of net worth averaged about 20 percent.


“Before the financial crisis, home equity had been the primary wealth-building vehicle for American households, particularly middle-class households,” said Christopher Low, chief economist at financial-products provider FTN Financial. “Even though it’s rising, families already have lost a decade of savings.”

The median U.S. home price has surged 42 percent since the start of the recovery, to $219,400 in April from a 10-year low of $154,600 in January 2012, according to the National Association of Realtors. Home equity is the value of real estate minus mortgages.

Home prices are being helped by the strength of the labor market. About 280,000 jobswere created in May, the most in five months, the Commerce Department said last week. Demand for workers is pushing incomes higher. The median annual household income was $54,578 in April, about 0.6 percent higher than the previous month, according to Sentier Research LLC.

(Ref. http://www.bloomberg.com/news/articles/2015-06-11/surging-u-s-property-prices-boost-americans-home-equity)

Downtown Miami _ A New State of Mind

Jade Signature - The Movie

Jade Signature - The Movie

JADE SIGNATURE 16901 Collins Avenue Sunny Isles Beach, FL  33160
Developer: Fortune International  For a private showing call: (786) 525-9430

Hyde Midtown - Deal of the week - Premium Corner unit with Bay Views!

Chic, stylish architecture in the coolest place in town. Feel the pulse of the city vibrate from Hyde Midtown, where luxurious amenities meet the convenience of hotel services at your doorstep - it's everything you need and nothing you don't.

Residence 04 Line with views to Biscayne Bay & Miami Skyline.

Best Deals:

804 $639,900

1104 $665,900

2104 $735,900

2604 $760,900

Residences from the $300's.

Call (786) 525-9430 to get prices, information and set an appointment to learn more about Hyde Midtown.