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buying homes: Orlando Home Owners: IRS Offers Tax Lien Relief - 12/27/08 06:38 PM
The Internal Revenue Service has instituted a new policy to make it faster for a home owner to remove a lien against their property. With the current economy forcing many homeowners to sell or refinance, a tax lien can delay the process, adding to that property owner's pressure, even blocking a sale or refinance. In the past it has taken 30 days to process a lien removal request which is unacceptable in these difficult times. Doug Shulman, IRS Commission, said, "We don't want the IRS to be a barrier to people saving or selling their homes. We want to raise awareness … (0 comments)
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buying homes: How Does the Federal Reserve Rate Cut Benefit Orlando Home Buyers? - 12/22/08 03:22 PM
On December 16, the Federal Reserve Bank announced an interest rate cut to a range of .25 percent to 0 percent. This remarkable adjustment means the prime rate will drop to 3.25 percent. The Fed made this move to encourage banks to loosen their tight grip on money and stimulate the economy by providing loan funds for homes, cars, business financing, and personal credit accounts. This is welcome news to home buyers and sellers in the Orlando, Florida, area. Conversely, by reducing the rate paid for savings accounts and certificates of deposit, the Fed hopes business and consumers will borrow more … (0 comments)
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buying homes: Orlando Among Top-Ten Bargain Home Markets Says Forbes.com - 12/19/08 04:08 PM
In December 2008, Forbes.com published a list of the top ten cities where buyers can find a real estate bargain: Orlando was third on the list. While that may seem like a dubious honor for current Central Florida homeowners, author Matt Woolsey's comments were surprisingly positive.
Noting that "property sharks" are looking for the exact moment the real estate market bottoms out to grab the cheapest deal, Woolsey recommended looking for more than bargain prices. The smart move is to find an area where
There are plenty of homes to choose from. The foreclosure rate is not too high. Projections for … (0 comments)
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buying homes: Is A Short Sale Right for A Struggling Orlando Homeowner? - 12/17/08 01:28 PM
In today's crumbling real estate market, many homeowners in the Orlando area are struggling with monthly mortgage payments and may soon face foreclosure. Negotiating revised loan terms would appear to be a good option however loan modifications are failing for many borrowers within a few months of the new arrangement. Another option to consider as a better choice is arranging a "short sale" with the company holding the mortgage. A short sale means the lender will accept less to pay off the loan than the balance owed. In most instances, the mortgage company will only negotiate a short sale through a … (0 comments)
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buying homes: Orlando Homes More Affordable for First-Time Buyers and Retirees - 12/14/08 04:46 PM
Orlando Real Estate Market Update November 2008
Good news for first-time home buyers in the Orlando, Florida, area: Conditions for purchasing your first home haven't been this favorable since March 2004. The median sales price declined again last month, dropping nearly 5 percent from $175,650 in October to $167,025 in November. That would mean a savings for a home buyer of over $8,600 if the property was purchased last month instead of the previous month. A year ago, that same home would have cost $234,900 which represents a substantial savings today of nearly $68,000 over 2007.
The decrease in … (0 comments)
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buying homes: Orlando, Florida Short Sale Home Buyer Tips - 12/13/08 09:12 PM
Orlando, Florida Short Sale Home Buyer Tips Orlando, Florida Short Sale Home Buyer Tips: An Interview with Chris Myers of the Orlando Property Group
We recently had the pleasure of being interviewed by Kevin Sandridge of the blog site,www.floridamortgageblogger.com. Kevin is one of Orlando's premier mortgage broker's, and through doing business together, we've come to respect his industry knowledge greatly. Below is the interview.
Home sales numbers in the Orlando, Florida area are up, and there's one single reason why... bargains in this area haven't been available like this for over 30 years! However, the help of an experienced Real Estate … (3 comments)
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buying homes: Orlando Home Buyers - Now Is The Right Time To Buy! - 12/13/08 09:02 PM
Orlando Home Buyers - Now Is The Right Time To Buy!!! Orlando Home Buyers - Now Is The Right Time To Buy!!!
One question is on the mind of all Orlando home buyers...Is now the right time to buy? Well, a recent economic and financial analysis forecasting firm called Global Insight has recently reported what many Orlando Real Estate Professionals, investors and home buyers already know...now is the right to time to buy!According to statistics, the U.S. housing market is currently undervalued by 3.8 percent. Out of 330 metropolitan areas in the United States which were analyzed by Global Insight, 150 experienced price … (0 comments)
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buying homes: Modified Loans May Still Lead to Short Sales - 12/12/08 12:33 PM
Will Loan Modifications Help Homeowners in Orlando, Florida?
In areas like Orlando, Florida, hard hit by increased foreclosures and decreased home values, loan modifications held out some hope for slowing the real estate market's downward spiral. However, initial early data may indicate many struggling homeowners should opt for short sales instead of modifications, and their lenders may now see short sales as a better option, too.
According to the latest data released Monday by the federal bank regulator, Office of Thrift Supervision and Office of the Comptroller of the Currency, loan modifications may not be the answer to the real estate foreclosure crisis. Of … (0 comments)
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buying homes: Mortgage Rates Below 6 Percent Help Orlando Home Buyers - 12/09/08 09:42 AM
According to Bankrate.com, the benchmark mortgage rate fell by 5 basis points to 5.92 percent. A year ago the rate was 6 percent but it had increased during 2008. Only five weeks ago, the rate was 6.44 percent. Interest rate drops for six straight weeks have given home buyers a reason to jump into the market, and homeowners clamoring for lower rates caused refi applications to triple the last week in November.
What does that mean to a home buyer in the Orlando area? Using a loan amount of $165,000 and the current rate of 5.97, the monthly payment on a … (2 comments)
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buying homes: Buy Your Dream Vacation Home in Orlando, Florida, Now - 12/08/08 10:00 AM
If you've dreamed of owning a vacation or retirement home in the Orlando area, this is the time to turn your dream into reality. Sales prices and interest rates are down, and the inventory of homes to choose from has never been better. In October, there were nearly 25,000 properties available, and the median sales price of a home in this Central Florida area was an affordable $178,000. Or, if your goal is to live the life of luxury, you'll find magnificent homes for sale on lakes, rivers, and golf courses at great prices.
According to QuickenLoans.com, the top reasons for … (1 comments)
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buying homes: Great Time for Buyers to Invest in Orlando Real Estate - 12/05/08 11:43 AM
With all the doom and gloom in today's economic news, there's a bright spot for home buyers in Central Florida. Bargains in the Orlando area haven't been available like this for over 30 years. There are four primary reasons why now is the time to contact an experienced Realtor® and start shopping today:
1. There are more homes to choose from. You can take your pick of excellent properties in prime locations in Osceola, Orange, Lake and Seminole Counties. Nearly 25,000 properties were for sale in the Orlando area in October, including single-family homes, town homes, duplexes, villas and condos. … (2 comments)
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buying homes: Top 7 Reasons Not to Buy A Short Sale in Orlando, Florida - 12/01/08 10:58 AM
A Short Course in Short Sales With the slumping real estate market in Orlando, Florida, and record numbers of foreclosures making news every day, you may have seen or heard the term "short sale" and wondered what it means and how it relates to a foreclosure. A home foreclosure is a legal process used by a lender to regain ownership rights to a property after the homeowner defaults on their payment agreement. A short sale occurs prior to a foreclosure when the lender agrees to accept less than the remaining mortgage amount, effectively eating part of the loss. The lender avoids … (0 comments)
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Lake Mary & Orlando Real Estate, Central Florida, Christopher Myers
Lake Mary,
FL
More about me…
Orlando Property Group at Keller Williams
Address: 708 E. Colonial Dr. Ste 200, Orlando, FL, 32803
Office Phone: (407) 602-7759
Cell Phone: (407) 538-0127
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