with Terry Story, 25-year Veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL
Interest-only loans: Today, nearly 1-in-10 mortgage loans are adjustable, up from 1-in-66 five years ago. ARMs and interest only mortgages have their benefits and carry well-known risks. But with interest rates at historic lows, rates can only rise from current levels… so listen in to know your options.
Also, luxury home prices are on the rise across the globe and Terry tells us which US cities made it to the list of top global luxury home markets.
Finally, Terry answers listeners’ questions on whether a home owner association can take action against deadbeat owners and assess charges on other HOA members to make up the difference. And can an HOA board member reject an outside buyer and make his own offer for the property that’s on sale?