Condo Hotel and Condominium Resort Mortgage Financing Book is Here!

June 11, 2008 - PRLog -- The condo hotel and resort residence market is exploding all over the world. It is a relatively new real estate product in many areas of the world, and certainly in the United States. Mortgage professionals, realtors, and developers are all struggling to foster the healthy growth of this property genre. Craig Flaherty has just released the first book of its kind, Strategic Residential Lending. This one of a kind resource serves as a comprehensive guide for mortgage professionals and real estate professionals interested in condo hotels and resort condominiums. It deals with every aspect of the market from the history of this niche property to the current and future prospects of the market. It contains chapters dealing with lending sources, underwriting, and marketing. You can learn more by visiting http://www.condobanking.com

The book discusses in great detail both the challenges of the market as well as the amazing opportunities to be found in this real estate property type. Condo Hotel Units and Resort Residences are answering a very real demand from prospective property owners all around the world: "Headache Free" home ownership. Condo hotels and resort residences offer a property ownership opportunity like none other. No leaky faucets to fix, no worries about the property when the owner is not there, and amenities and services that can only be offered by this unique property type.

Societal shifts in the way we live and work are causing more and more consumers to want more from the products they buy. They want convenience and "turn key" ownership. "Do-It Yourselfers" are a dying breed both literally and figuratively. We are working 50, 60, 70, hours a week in our professional lives and we are demanding more convenience from everything we own. One Hundred Years ago, the average person in the United States actually built their own home. Today, we call in a specialist when the refrigerator starts acting up. We simply don't have the time or desire to deal with many of the peripheral problems associated with property ownership.  Condo Hotels and Resort Residences are answering this demand.

Over the past 18 months, some controversy has arisen regarding this property type. Huge demand for condo hotel units brought in a wide variety of real estate investors and speculators, many of whom purchased units for all the wrong reasons. Some previous purchasers focused on condo hotel ownership as a "cash flow" investment, which condo hotels are certainly not. This has created some short term challenges for the market, especially in regards to mortgage financing.

However, long term forecasts for the growth of this property genre remain extremely strong. As more and more buyers purchase these properties for the right reasons, we will see increased healthy growth and expansion. Condo Hotels and Resort Residences are the fasting growing segment of the housing market, by far. They are popping up in every state of the country. From beach front getaways, to ski lodge retreats, to water park resort properties, to lakeside vistas. They are also increasingly being purchased as primary residences in urban areas.

Strategic Residential Lending provides the first comprehensive look at this phenomenon from the mortgage and realtor perspective. Whether you are a veteran in the market or are looking at getting involved for the first time, this book is a must read.
For more information, please visit www.condobanking.com

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www.condobanking.com and www.consumeradvantageinc.com serve as a resource for individual buyers, mortgage professionals, realtors, and developers in regards to condo hotels and resort residences.