Fannie Mae Approved Condo Buildings in Florida

June 6, 2009 by Lucas Lechuga

As of June 1, 2009, Fannie Mae updated their website to reflect the condo developments in Florida that are now approved for financing.

The following is a list of recent condo developments in South Florida that are now Fannie Mae approved:

View the full list of Fannie Mae approved condo developments in Florida.

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17 Comments on "Fannie Mae Approved Condo Buildings in Florida"


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Anonymous
AJ
6 years 8 months ago

The photos are looking stunning. What changed? Higher camera resolution or posting uncompressed pics? Nice!

Anonymous
DJ
6 years 8 months ago

LOL AJ, something tells me that Lucas didn’t take that picture of the Fannie Mae building.

Overall, this is good news for the market though. As more buildings join the ‘approved’ ranks I think we’ll certainly start seeing more activity. Now that prices are coming down to realistic levels, all that’s needed is more available credit.

Anonymous
southbeachsand
6 years 8 months ago

So every one of these projects met the new Fanny Mae requirements? 1. Project Eligibility Requirements. The new Fannie Mae project eligibility requirements for condominium projects include: a. 70% Presale Requirement (Principal Residence or Second Home). Fannie Mae is increasing the presale eligibility requirement for new condominiums from 51% to 70%. Consequently, in order for a project to meet Fannie Mae approval, at least 70% of the total units must have been conveyed or under a bona fide contract for purchase for use as a principal residence or second home. Developers seeking Fannie Mae eligibility and also looking to qualify… Read more »

Anonymous
DJ
6 years 8 months ago

How can Icon be approved if they’re so, so far off from being 70% closed?

Anonymous
AJ
6 years 8 months ago

DJ, read h.

Regarding the pics, I was also referring tothe previous post with views from 50B. They look great.

I am still horrified by the devastation caused by one thunderstorm. Imagine a hurricane damage? Many of those cars could be total losses.

Anonymous
Wild Bill
6 years 8 months ago

Guidelines give people false confidence that these buildings are stable. I don’t believe Fannie Mae knows how to check buildings records to detect fraud. It would take a forensic accountant trained in condominium law. Nonexistent job. Heavy rain in South Beach and downtown Miami at or near high tide will result in massive flooding. Majority of vehicles will need new carpet and upholstery. Many will be totaled. Many basement garages flooded. If engines sucked water into the air intake they will need a new engine. Not a place for people with high end vehicles. http://www.nbcmiami.com/news/local/Sewer-Water-Swamps-South-Beach.html

Anonymous
6 years 8 months ago

AJ,

My 8MP camera crapped out on me after I got back from my cruise. Earlier this week I got a 12.1MP Sony Cybershot. I’m glad to hear that you were able to see a difference. Great eye!

Anonymous
Superman IV -The Quest for Peace
6 years 8 months ago

Actually, they are building an Asia de Cuba inside the new Publix in Mary Brickell Village. They are building a very walkable Wal-Mart where Pace Park currently stands. They will specialize in boating equipment. They are also building a walk and bike bridge from the Wal-Mart to Fisher Island. Major walkability projects are coming.

In non-walkability news, they’re building a San Fran style trolley with major stops at MIA international, Quantum, Asia de Cuba, and the Mondrian. It’s nice except it doesn’t involve walking. Darn!!!!

Anonymous
Joe's Jeans
6 years 8 months ago

Correction superman IV, the trolley will be powered by people’s walking on a treadmill! So it is walking related. Tickets are going to cost a nickel. What a great deal, and some needed relief for the residents of Pace Park. This should double condo values by next week.

Recession’s over boys and girls. Go out and buy yourself a new Lambo and/or Chrysler Crossfire. Condo values can only go straight up from here. Should have got in while you still could renter tom and wild bill.

Anonymous
Az88
6 years 8 months ago

Joe’s Jeans and Superman IV don’t know the first thing about walking. I walked from DC to LA once. I grew a really long beard. I also owned a shrimp company down in New Orleans. It was called Asia de Cuba Shrimp Co. I am also the part owner of Publix, Inc. We are going to make the Mary Brickell Village Publix the flagship store. Golden cash registers and free lemonade for Brickell and Pace Park residents. Miami Beach people are going to be banned. You must show your license to get in. My son Orangello Jones is going to… Read more »

Anonymous
Publix
6 years 8 months ago

Can someone confirm that this new Publix is going to be a Super Publix that is 260,000 square feet? It’s going to have multiple levels and sell everything from Crest toothpaste to Gucci handbags. No escalators either, just stairs so walking is mandatory. The stairs will be guilded with gold foil. Walking at it’s finest!

Anonymous
6 years 8 months ago

The Fannie Mae guidelines are very broad in nature. Most of the buildings above do not meet those guidelines but those buildings were able to apply for individual review and approval on a case-by-case basis.

Anonymous
Kramer
6 years 8 months ago

This latest move by Fannie Mae smacks of desperation. What they are saying to you all is that – ” The current wave of South Florida Condo foreclosures and short sales is due to our lax and overly lenient guidelines in the past regarding fiscally sound lending practices in S.Florida condo buildings. Therefore we are strengthening our standards and our oversight with these new more prudent guidelines understanding that a substantial number of the newer buildings downtown cannot comply. Uuuum well golly gee -NEVERMIND. We now realize that each project has its own set of unique set of circumstances like… Read more »

Anonymous
condoswindler
6 years 8 months ago

Fannie Mae Approval=Big developer + Big Money What you all dont think $$ has anything to do with it-How much did it cost dear old George to get his buildings approved-and what if you dont have the cash you dont get approval?? FYI to all the smart one here is actually Asia De Cuba as they passed on downtown 4 years ago, as they knew the area was all talk and no action-and 5 yrs later no action-oh sorry we now have a huge light up advertising board so the homeless can watch TV at night…Heck wallmart we already have… Read more »

Anonymous
6 years 7 months ago

newbe here..

looking for the computer program that allows an inside view into foreclosures, pre-foreclosure etc.. looking for condo’s on the beach.

thanks in advance.

cliff

Anonymous
Anononomous
6 years 7 months ago

Go to foreclosure.com, pay the $16 per month, and follow the records as they are filed.

Anonymous

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