US Housing Market Will Struggle in 2011: Poll - 11/23/10 07:54 AM
The U.S. housing market will stagnate next year as a steady stream of foreclosures and nagging joblessness sap the demand needed to mop up an excess of homes on the market, according to a Reuters poll.
 While a housing recovery will be sustained, home prices, which have plunged by about a third since their 2006 peak, will barely rise next year. Medians from the poll showed a mere 1.1 percent rise in 2010 and 1.0 percent in 2011.
Expectations for next year haven't budged from the August poll, and won't even keep up with the expected 1.6 percent rise in the … (1 comments)

Florida leads U.S. in serious mortgage delinquencies - 11/22/10 10:53 AM
Florida still leads the nation in the percentage of homeowners who are “seriously delinquent” on their loans, the Mortgage Bankers Association said Thursday.
 In the state, 19.52 percent of borrowers were either 90 days past due or in foreclosure in the third quarter. Add in borrowers who are 30 and 60 days late, and nearly one in four Floridians are behind on their loans.
 The good news is that Florida’s seriously delinquent rate is down from 20.13 percent in the second quarter. But no other state met Florida’s lofty level of late payers. Nevada was No. 2 at 17.83 percent, while … (1 comments)

Is Home affordable Modification Program (HAMP) dead? It seems so, here in Orlando, Fl. - 11/20/10 09:32 AM
“It’s safe to say that HAMP isn’t meeting its goal of preventing foreclosures,” Representative Maxine Waters said at a House Financial Services subcommittee hearing after the Treasury provided a preview of a report by the U.S. Treasury Department. According to the report, homeowners are dropping out of the Obama administration’s foreclosure prevention program at a faster rate than they are joining it. Bankers, housing regulators and members of Congress agreed on this much in the week's second congressional hearing on foreclosure problems:
The system needs fixing. Borrowers aided by the Home Affordable Modification Program grew to nearly 520,000 in October, up … (0 comments)

Orlando Real Estate Market Statistics November 2010 - 11/15/10 09:52 AM
Orlando Real Estate Market Pulse Nov 2010 *************************************************************************************** Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit: Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com , … (0 comments)

Apopka Fl. SFH For Sale, Great starter or investment property, 136 N. Line, Apopka, FL. 32703 - 11/12/10 11:58 AM
*************************************************************************************** 
Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.
 Please visit:
Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com
 Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com ,
If you're a Buyer looking for … (2 comments)

Decline in home values rivals Great Depression or we can call it .... The Great Real Estate Depression of 2007-2014 - 11/12/10 08:50 AM
Of course with this title it begs the question. Do you think this is going to last until 2014?   I say....... of course, perhaps longer.
The United States housing market continued its long decline in the third quarter with home values falling for the 17th consecutive quarter, according to Zillow Real Estate Market Reports(1). With home values 25 percent below their June 2006 peak, the current housing downturn is approaching Great Depression-era declines, when home values fell 25.9 percent in five years(2).

The Zillow Home Value Index(3) declined 4.3 percent year-over-year in the third quarter and 1.2 percent from … (3 comments)

The 3 F’s mean trouble - 11/09/10 03:25 PM
"Now that we've gotten the Q3 reports from Fannie, Freddie and the FHA, the picture of housing's future is becoming ever clearer.
  The combined Real Estate Owned (REO) inventory of the three rose 24 percent quarter to quarter and 93 percent year over year. In real numbers, at the end of Q3 there were a record 293,171 REO's sitting on their books.
 This of course doesn't count REO held by the banks and private label securities. That's up from 153,007 at the end of Q3 2009.  Granted, the GSE's and FHA have disposed of (sold) an awful lot of properties.
… (0 comments)

31% of defaults could be strategic, Is Orlando Higher? - 11/02/10 09:30 AM
The financial crisis and ensuing recession apparently changed the mindset of Americans toward their homes, turning what long has been the American Dream into just another financial investment.
The result, strategic defaults – people walking away from the property and mortgages not because they have to, but because they can. The key consideration is time, said Jon Maddux, of YouWalkAway.com, which helps people turn their properties back to their banks.
 Some experts estimate nearly a third of all mortgage defaults – 31 percent – are of the strategic variety. RealtyTrac reported 2 million foreclosures in September and said one in 371 … (2 comments)

 
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Jerry LaRose, Broker, Short Sale Expert Orlando, Florida Real Estate Short Sales

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