That’s according to CNNMoney.  Many homeowners are having to short sale their home and/or going into foreclosure so they need someone to live and renting is really their only option.

Even though home prices in this pricey part of Florida are expected to fall further, rental rates are going strong.

Rents in Fort Lauderdale average nearly $1,100 a month and are projected to increase by nearly 10% over the next three years, according to Local Market Monitor.

http://money.cnn.com/galleries/2011/real_estate/1107/gallery.best_investment_markets/9.html

Fastest-Growing Companies

Premium content from South Florida Business Journal

Date: Friday, June 10, 2011, 6:00am EDT

Welcome to the South Florida Business Journal’s first Fastest-Growing Companies special report. In a still-bumpy economy, we hope these companies will help provide inspiration to the region’s businesses in general.

We turned to Research Director Amy Limbert to come up with the 50 fastest-growing companies in the region.

When we were brainstorming ideas for the section, we decided to invite leaders of these companies to submit their suggestions on how to grow rapidly. We figured those who have experienced rapid growth would have some great ideas to share.

Many of these companies are familiar to regular readers, but we’ve also included additional information on some less-familiar names and others who were standouts among their revenue peers.

One caveat, though: The list is purely driven by revenue, and not necessarily a reflection of company profitability. Consider this the busiuness equvalent of muscle cars racing down the highway.

6. First Equity Mortgage Bankers

Daniel Rodriguez, President

From its early days in 1997 as the “no equity mortgage company,” First Equity Mortgage Bankers First Equity Mortgage Bankers Latest from The Business Journals Following – or FEMBi – has grown to handle origination of government and conventional first mortgage loans.

Along the way, the company expanded its lending operations to Puerto Rico, where it currently is the exclusive on-site lender for numerous residential developments. The Builders Association of South Florida named FEMBi 2006 Mortgage Lender of the Year. It consistently ranks among the top 500 U.S. Hispanic businesses and in the top 5 percent for gross revenue by Hispanic Business.

The company’s flexibility amid changing markets has made it a leader in its category and among other businesses, Rodriguez says. When times are good, anyone can prosper. It’s what leadership does when its industry is struck by extended slow periods that define its ability to thrive – and even survive, he says.

“In order to succeed in any business, you must have the ability to recognize changes in the market and be willing to make uncomfortable, and sometimes painful, decisions and sacrifices,” he says. “For over 10 years, the real estate market boomed, and virtually every company in a real estate related business was doing extremely well. When the market soured, very few people expected it, and far fewer had prepared for the rough years that followed. The lesson learned is to never rest on your laurels. During good times, prudent business leaders should set aside time and funds in order to prepare to survive the inevitable business cycles.”

What protected FEMBi from the slide – and what can other executives do to protect businesses from slow times? Stay market-savvy, open to changes and diligent in surveying the landscape, Rodriguez says.

“Never allow yourself to become complacent,” he says. “I think it’s important to continuously explore opportunities to improve the service or product your business offers and, at the same time, keep a vigilant eye for any potential risks.”

I found the article below from MarketWatch to have some good tips.  It is also important to change your air filter once a month especially if you have pets.  For even more great advice you can contact Juan Jaramillo with the Air Connection (954) 326-3466 or juancjl1@hotmail.com.  He is an A/C expert in Fort Lauderdale/South Florida.

A big part of keeping down your home’s cooling costs involves keeping warm air out and not letting cool air escape, Voight said.

Weather-stripping and caulking doors and windows can result in a huge energy savings. According to the Edison Electric Institute, a one-eighth of an inch crack around a doorway creates as much air loss as a six-inch square hole in the door….. http://www.marketwatch.com/story/how-to-keep-your-home-cool-in-the-summer-heat-2011-06-27?siteid=rss

That is a good question and I am sure you would get different answers depending upon who you talk to.  Most end up calling a real estate agent first because they saw a property that the agent advertised online or in some other publicaton.  The first thing a real estate agent will ask you is if you have been pre-qualified and if you haven’t that they need you to get pre-qualified and most times will have a referral for the mortgage professional that they should call. 

I would imagine that a lot of mortgage professionals would feel the first place you should start is with them because how do you know how much you can afford and what properties you can look at.  You don’t want to waste your time looking at a property for $200,000 when you can only afford $100,000.   It is best to do this in advance as soon as you start thinking about buying a home.  If you fail to plan, you plan to fail.

An attorney could argue that what good is an asset if you aren’t protecting yourself similar to Financial Planner’s wanting their clients to have will or trust in place along with the asset protection.  So many times in the transaction the attorney won’t get the contract until it is executed and at that point it is too late. 

My opinion of all of this, and it is only that,  is that you would want to find the right team of professionals that all work together and to get pre-qualified for their mortgage.  There are so many things that can go wrong on a transaction that if you don’t have the right people working on the deal it could make it harder or prevent it from closing.

First Equity Mortgage Bankers (FEMBi Mortgage) made Florida Trend’s top private companies list as a Big Mover moving 60 spots to #106.  I have to say that is pretty impressive for a mortgage company to do that in this current real estate market.  I am proud to be apart of such a great company.

http://www.floridatrend.com/article.asp?aID=55077