Orlando Home buyers you have heard it hear first. The Extension of the First time Home Buyer tax credit and addition of the move up buyer credit is official it has passed the house and senate and sits for the President to sign tomorrow. IF you want to go to my previous post to read more about the Home Buyer Tax Credit. 

This is great news for people selling Orlando Real Estate and Lake Mary Real Estate and for home buyers of all kinds to take advantage of the low prices, low rates and now the free money. 

Orlando & Lake Mary First Time Home Buyers have something to be happy about this morning. The First Time Home Buyer Tax Credit has passed the Senate last night with a majority vote of 98-0. Now the bill goes to the House where it could be voted on as early as today.

The passing of this bill is great news, but what's even better is this tax credit not only applies to first time home buyers but to home owners looking to purchase a move up home. I think this is the last little boost the housing sector needs to keep the ball rolling in the right direction and help it stabilize some. Lets take a look at what this Home Buying Tax Credit entails. 

First Time & Move Up Buyer Tax Credit

$8000 for First Time Home Buyer*

$6500 for Move Up Buyers*

Homes must be under contract by April 30, 2010 and close by June 30, 2010

For Men/Women serving our country outside the US the tax credit is extended an additional year til April 30, 2011

* What makes you a first time home buyer - anyone who hasnt  owned a home in the last three years and as a single filer makes less then $125,000/yr or joint $225,000

** What makes you a move up home buyer - Someone who has owned their current home at least five years and same income limits apply.

It's not a done deal yet but with the large support in the Senate it's said to pass the House quite easily. If you have been thinking about purchasing Lake Mary Real Estate or even Orlando Real Estate then now is the time. Leaders are saying this tax credit will not be extended again. 

Real Estate in the Central Florida area is some of the lowest it has been in years, coupled with the tax incentive and very low interest rates you have the perfect home buying storm.

For more information on being a First Time Home Buyer and how to get started read my guide to Buying your First Home - You only get one First.

But if you're a more saavy and experienced Home Buyer looking to move up and tax advantage of the new tax credit read my site on Moving with Families & Relocation.

Get started on your search visit HEATHER THE REALTOR stop by the site to chat live, give me a call at 407-218-5099 or email me at Heather@HeatherTheRealtor.com

Downtown Orlando well to be exact SODO is welcoming the newest addition to the Chick-Fil-A chain on Orange and Michigan Ave tomorrow. As part of this great opening celebration Chick-FiL-A in downtown Orlando will be hosting their First 100 Fans promotion. This promotion gives the first 100 people in line free Chick-Fil-A for a year. Yup for a full Year! 

Anyone 18 and over will receive vouchers for 52 weeks towards the use of a free combo meal. I am half tempted by this deal to go camp out, I love Chick-Fil-A just not sure my waist line can handle that :)

If your in the Downtown area and feeling like a free year of Chick-Fil-A then stop by their grand opening and be one of the first 100 fans in the door.

I am going to try to keep everyone up to date every month on the national and local foreclosure stats.

I think it's an important gauge on where the market is going and where it has been.

For the month of October 2009  Information updated on 10/27/09 at 4:27 pm

Nationally 440,858REOs

Florida   55,239 REOs

Seminole County  789 REOs

Orange County  4,451 REOs

Orlando REO Bundle for sale that includes over 40 properties for under $3.5 million. If you are looking for a deal here in Orlando, FL then look no further then this perfect bundle.

Wake up and smell the coffee, your opportunity is knocking and wont be around long. Bank wants to sell these assets in 30 days or less!!!

Properties ranging from condos to million dollar homes from fixer uppers to brand new construction from the builder. From Lake Mary to Orlando and East Orlando to Sorrento. A large number of assets in this REO/Bank Owned bundle are in gated communities.

If you are interested in purchasing this bundle of REO properties here in Central Florida contact me for this private package.

Heather Joubran  407-810-6304  Heather@HeatherTheRealtor.com  www.HeatherTheRealtor.com

Brand New David Weekly Home located in Heathrow Country Estates in Sorrento, FL. This home is an Bank Owned REO Property that is in absolutely stunning condition. The home has never been lived in, the light fixtures still have plastic wrap on them. We are selling this house below what you can buy it from the builder. Even still dont let the price scare you, bank needs to sell this house in the next 30 days so they are open to all offers. This home has yet to be placed on the market get the first chance to purchase here!

Nestled in Lake County, within the distinguished gates of Heathrow Country Estates, lies one of the most unique golf communities. Featuring exclusive luxury homes, generous amenities, spectacular views of pristine rolling country side, majestic 100 year oaks and space, yes space - it is what sets Heathrow Country Estates apart from anything else found in Central Florida. And this is just the beginning; it also offers a lifestyle unmatched by others with every convenience you'd expect from a world class resort with the intimacy of a wooded retreat.

Home to RedTail, a private 18 hole Golf Club and Pro-Shop, featuring:

• Two Gated Entries
• A state of the art fitness center, spa and relaxation pool
• Two Har-Tru red clay tennis courts
• A grand dining room and veranda, complete with an outdoor fire pit
• Exceptional gourmet dining and intimate members bar
• A tree lined children's park
• A unique 24/7 market café

 

This home is located in one of the most sought after area's of Baldwin Park, in the heart of the community just steps from the Publix, shops and restaurants.

This MacFarland model was built by David Weekly Homes and was a former model, sporting features not found in any other home like a whole home intercom system. The property has been lovingly cared for and boasts large tile flooring and plush carpeting, not to mention 42" cabinets, fenced yard with brick pavers, rear entry garage, garden tub and dual sinks, UV filtration system on the A/C and spacious split floorplan.

Property is a short sale status but dont worry the property is being handled by a Certified Distressed Property Expert (CDPE) and the bank has estimated 38-45 days for response time on offers. Seller had a death in the family and can no longer afford to make payments, we have already been in contact with the bank.

You could buy this same exact model from the builder for $445,000 brand new in the very back of the community on a much smaller lot and close in about the same amount of time as this home but in a location 10x better and will be sought after for years to come!

Priced at only $395,000

• Living Room: 15x19
• Master Br.: 13x16
• Family Room: 21x16
• 2nd Bedroom: 10x12
• Kitchen: 12x16
• 3rd Bedroom: 10x12
• Dinette: 09x10
• Dining Room: 12x11
• Bonus Room: 10 x 12

Lake Mary First Time Home Buyers have you been sitting on the fence thinking about buying, really wanting to buy so you can take advantage of the free $8000 tax credit out there. Well dont sit too much long as the deadline for the tax credit is fast approaching. Many of you know the incentive runs out on November 30, 2009

That's almost 2 months away, I have plenty of time. WRONG! The standard FHA financing deal takes a minimum of 45 days now thanks to Regulation Z. With that being said lets say you put a contract in this weekend October 3 and it's excepted that day. The soonest you could close would be November 18. Phew just 12 days to spare. But wait lets back up a little bit and review dates.

• It takes 45 days on average for an FHA loan can take up to 60 days.
• A lender cant process your loan application until you have an executed contract (meaning both parties have signed)
• Most homes are REO properties or Short sales(dont even go here if you want to close in time) REO's generally have multiple offers and if your offer is accepted it normally takes 2-5 days to hear back and another 2-5 days to get signatures on all documents.
• Inspections are done in the first 7-10 days and appraisals in 15 days from execution

With that time line alone if you find a property in just a few short days say by October 3, your offer wont be seen by the seller until October 5, you most likely wouldnt have an executed contract back (granted if your offer is accepted) until October 12. Now your lender can get started and will order the appraisal, you will then have the inspections. Lets pray for a clean inspection and a property that appraises at or above purchase price so no delays there. 45 days takes you to Thursday November 26. Opps it's a Holiday so no one will be around to close your file or even look over the paper work which takes us to Monday, November 30. Last day of the month companies are always slammed, files dont make deadlines, Sellers dont have time to review HUDs and well they push your closing into December. Guess what you are now no longer eligible for the $8000 tax credit.

So yes if you are a First Time Home Buyer looking to get into a home and utilize the $8000 tax credit your time has nearly run out. This is your final weekend to really get into a home. If you are ready to purchase your first home and work with an Area Specialist contact me today and join the other First Time Home Buyers in the Orlando area who have already taken advantage of the first time home buyer $8000 tax credit and have be entered into my Half Million Dollar Challenge

Heather Joubran   407-810-6304   Heather@HeatherTheRealtor.com   www.HeatherTheRealtor.com

Lake Mary First Time Home Buyers have you been sitting on the fence thinking about buying, really wanting to buy so you can take advantage of the free $8000 tax credit out there. Well dont sit too much long as the deadline for the tax credit is fast approaching. Many of you know the incentive runs out on November 30, 2009

That's almost 2 months away, I have plenty of time. WRONG! The standard FHA financing deal takes a minimum of 45 days now thanks to Regulation Z. With that being said lets say you put a contract in this weekend October 3 and it's excepted that day. The soonest you could close would be November 18. Phew just 12 days to spare. But wait lets back up a little bit and review dates.

• It takes 45 days on average for an FHA loan can take up to 60 days.
• A lender cant process your loan application until you have an executed contract (meaning both parties have signed)
• Most homes are REO properties or Short sales(dont even go here if you want to close in time) REO's generally have multiple offers and if your offer is accepted it normally takes 2-5 days to hear back and another 2-5 days to get signatures on all documents.
• Inspections are done in the first 7-10 days and appraisals in 15 days from execution

With that time line alone if you find a property in just a few short days say by October 3, your offer wont be seen by the seller until October 5, you most likely wouldnt have an executed contract back (granted if your offer is accepted) until October 12. Now your lender can get started and will order the appraisal, you will have the inspections. Lets for pray for a clean inspection and a property that appraises at or above purchase price so no delays there. 45 days takes you to Thursday November 26. Opps it's a Holiday so no one will be around to close your file or even look over the paper work which takes us to Monday, November 30. Last day of the month companies are always slammed, files dont make deadlines, Sellers dont have time to review HUDs and well they push your closing into December. Guess what you are now no longer eligible for the $8000 tax credit.

So yes if you are a First Time Home Buyer looking to get into a home and utilize the $8000 tax credit your time has nearly run out. This is your final weekend to really get into a home. If you are ready to purchase your first home and work with an Area Specialist contact me today and join the other First Time Home Buyers in the Orlando area who have already taken advantage of the first time home buyer $8000 tax credit and have be entered into my Half Million Dollar Challenge

Heather Joubran   407-810-6304   Heather@HeatherTheRealtor.com   www.HeatherTheRealtor.com