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central florida real estate: Buy Now, Orlando, Tax Credit or Not - 06/08/10 08:31 AM
If you didn't buy an Orlando home before the tax credit expired, you may be thinking, "What's the rush now? If I just wait another year, I will have so much more saved." In theory, this might be true, although most people find it's hard to meet savings goals; the car transmission might die or unforeseen expenses might arise. If your income isn't stable, you should wait but aside from this possibility, is waiting a sound strategy?
Otherwise, there are many reasons that the answer is a resounding "NO!" Why is this? Florida and national statistics tell the story.
Housing prices: … (0 comments)
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central florida real estate: Orlando Homebuyers Beware: FannieMae is Doublie Checking Up on You - 05/29/10 04:02 PM
Interest rates and home prices in Orlando real estate are relatively low, but buyers are subject to much more scrutiny when they go to buy. In the past, buyers thought they were home free once the bank said "yes" on the mortgage loan. Now, Fannie Mae has added a new requirement that the lender has to double check the check score again just before closing.
As it is now, buyers need to present their W-2s, lobby for their stability if they are in sales or other fields where their income varies, and have higher credit scores than in the past, Banks, … (5 comments)
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central florida real estate: Mortgage Scam Hits the Howey Estate - 05/11/10 06:31 PM
Currently, Florida is the top state for mortgage fraud and has triple "the expected amount of reported mortgage fraud and misrepresentation for its origination volume," according to the Orlando Business Journal. Anyone can be the victim of a Central Florida mortgage scam, but the elderly are particularly at risk. You just don't expect that a wealthy widow who owns the historic Howey mansion would be among them.
Marvel Zona owned the former home of citrus grower and politician William J. Howey along with her late husband, Jack. Awed by the European feel, they bought the place in 1984 for $400,000. In … (1 comments)
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central florida real estate: Budget Your Fun in Orlando - 02/12/10 05:02 PM
A visitor to Orlando's theme parks can find a dizzying array of hundreds of hotel/motels deals, theme park ticket packages all advertising the "Best Deals In Town!"
Space won't allow me to list all the options, but here are a few hints to use when shopping for your next vacation to central Florida's theme parks. (Click here for a rundown of Orlando entertainment deals.)
Where to Stay?
With more than 100,000 hotel rooms in Central Florida, you certainly have a lot of choices. One of the first things you'll want to decide is whether to stay at one of the on-property … (2 comments)
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central florida real estate: Florida Economy Rebounds in 2010 - 02/04/10 12:31 PM
By definition Florida's gross state product is a measure of the state's overall economic performance. Our economic growth has been playing defense for the last year. But according to a November 30th report our economy here in Florida appears to be rebounding. That's great news for our state,and certainly for people in Orlando, who have been hard hit by the economy.
The chief economist for a New Hampshire economic forecasting company stated that they expect things will begin to improve by the second quarter of 2010 and that low interest rates have been stable and appear to be having an impact … (5 comments)
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central florida real estate: It doesn't have to end in divorce: New Florida Mediation Law Could Help Homeowners - 01/18/10 07:54 PM
You didn't get married to get divorced, nor did you buy a house to lose it to foreclosure!
Perhaps you've been through painful times in your marriage and you don't know how it happened... it was all so perfect at first. You fell in love, married and now things aren't working out - can your marriage be saved? It doesn't have to end in divorce. You are likely to try counseling and variety of other things before you go that route.
Apply those words to your home. You saw your home, it was everything you'd always wanted, you fell in love … (4 comments)
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central florida real estate: Survey Says: If Your Live in Florida, You're Happy - 12/18/09 08:01 PM
Florida may have its share of bad news in the housing arena, but its citizens are happy. In fact, recent research that matched survey by the Centers for Disease Control and Prevention (CDCP) with academic research done by two economists Andrew J. Oswald and Stephen Wu, found Floridians as the third happiest Americans right behind people from Louisiana and Hawaii.
Foreclosures may nearly top the nation and unemployment is high, but Florida gets high marks on its sunny climate which undoubtedly makes people happy about their lives.
Oswald noted: "We wanted to study whether people's feelings of satisfaction with their own … (5 comments)
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central florida real estate: New Tax Credit Expected to Boost Orlando Housing Outlook - 11/18/09 01:08 AM
"We can't underestimate just how powerful a catalyst the first-time homebuyer tax credit has been for the housing sector. It's given buyers the confidence they needed to get off the fence and take advantage of extremely affordable housing conditions. The buying conditions this year are the most favorable on record dating back to 1970, but the tax credit is allowing buyers to set aside any reservations about waiting for a better deal."
Lawrence Yun, NAR chief economist
No where are the words of Lawrence Yun more true than in Orlando, FL. The Orlando housing market, already enjoying record low home prices … (3 comments)
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central florida real estate: Low Prices, Tax Credit Overwhelm Foreclosure Issues for Home Buyers - 11/15/09 06:27 PM
As an Orlando homebuyer, it is important to keep your eye on the prize. Homes, especially condos, are extremely affordable at the moment and sales are increasing dramatically. With the first time home buyer's credit extended to April 30, 2010 and expanded to include current owners and higher income families, the Orlando housing scene should see even more activity.
Despite this good news, our city has the dubious distinction of having the ninth highest foreclosure rate in the nation in October, along with the second highest number of foreclosure filings in the state. (Only Miami is in worse shape.)
According … (6 comments)
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central florida real estate: Economic Sunshine Finally Returns to Florida - 10/25/09 11:57 AM
Florida, the land of perpetual summer, is finally emerging from the economic winter that has characterized our state for the last few years. According to an indicator compiled by e-forecasting that shows economic direction, the state has shown dramatic improvements since its low point in April, 2009 and will show positive improvement for the first time since November, 2006. Increases in indicator scores often signal general economic improvement in the following months, which bodes well for business in 2010.
Nationwide, the indicator is based on 10 factors
1. Unemployment claims
2. Improved outlook for international travel
3. Increase in consumer … (7 comments)
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central florida real estate: Orlando Home Inventory Levels Drop Along With Median Home Values - 09/27/09 02:04 PM
Now is the time to purchase your first home. Not only is the $8,000 first time buyers credit a great incentive for some, The Orlando Regional Realtor Association just announced that the month of August brought the Orlando area a surprising median home price drop to $128,000.
In August, Orlando Realtors sold 2,115 homes, a 65 percent increase when compared to the same time last year. Last month's sales included 850 bank-owned transactions and 188 distressed properties. These two categories accounted for 49 percent of the sales.
Home Sales UP!
There was a 71 percent increase in existing home sales in … (0 comments)
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central florida real estate: A Potpourri of Orlando Housing Facts on a Hot August Day - 08/15/09 05:29 PM
This warm but rainy August day offers a good chance to look over the highlights of Orlando real estate happenings. In a nutshell, sales are up, prices are down. Foreclosures are skyrocketing, which may assure future sales and affordable prices. At the moment, 84% of the nearly 17,000 homes for sale are foreclosed properties.
Sales are up. Single family sales in Florida rose 23% in the second quarter of 2009, while condo sales rose 29%. In the Orlando area, the increase was 36% for homes and almost 300% for condos. This is a vote of confidence for the Orlando area … (0 comments)
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central florida real estate: Working It Out with Your Orlando Lender - 08/06/09 10:41 PM
In trouble with your mortgage payment? If your trouble is short term, you may see the day when you can get back on track, if only your house payments were a little lower. You like your Orlando home and really don't want to move. If this is your story, you want to prevent foreclosure, but aren't interested in a short sale. Your strategy in this case might be to discuss a loan workout with your lender.
You might ask them for a reduced interest rate and a lower payment. Aside from loan modification, other remedies they might be willing to … (2 comments)
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central florida real estate: What Should Stay, What Should Go When You're Packing Your Orlando Home - 06/18/09 10:53 PM
There was a time when people had more common sense and even in the absence of that, an innate sense of what you should be packing up when you move from your home. Whether you are going by choice or moving after foreclosure, the same rules apply.
No question about it, the foreclosure crisis has resulted in a rash of trashed, smashed, and stripped-bare homes for the next set of owners to deal with. Many homeowners, strapped for cash, have ripped out counters, appliances, light fixtures, or cabinets to sell and may have intentionally damaged what's left, out of anger. … (0 comments)
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central florida real estate: What is an Affordable Central Florida Home? - 06/11/09 09:18 PM
You hear a lot these days about "affordable housing." Five years ago, lenders aided and abetted home buyers into stretching the definition of what was affordable to a figure far in excess of the traditional formula: buy a home three times your annual household income. The emphasis was put on the monthly payment, which is why people who should have bought $200,000 homes were buying $500,000 homes because some crazy mortgage packages made their payment "affordable" until the interest rate adjusted or some other term of the loan kicked in.
Now, many lenders are going back to basics. With housing … (2 comments)
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central florida real estate: $8,000 Tax Credit Can Make Your Springtime Dreams Come True in Orlando, FL - 06/10/09 06:10 AM
This spring could be the time everyone gets something they want. Orlando buyers get the home of their dreams at an affordable price with decent interest rates. Sellers move that property that's been on the market for awhile and then are able to take advantage of a good deal on their next home. Banks reduce their inventories of foreclosed home. Neighborhoods rebound, as families fix up and move into homes formerly owned by people who may not have been able to keep them up.
One thing that is facilitating this happy picture is the first time homebuyer's credit. Available until December … (2 comments)
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central florida real estate: Don't Add to Orlando Foreclosure Stats - 05/30/09 11:34 PM
While home sales are going great guns in central Florida, the Orlando area is still high on the foreclosure list, ranking number 10 of the country's largest metropolitan areas. Florida itself trails only Nevada among the states with the highest foreclosure rates, as one of every 135 Floridians received a foreclosure filing in April.
For people at risk of foreclosure, the hot topic still remains:
Where can I get help?
What follows is an alphabetical list of sources of help. No one on the list will charge you a fee. Keep two things in mind. First, time is of the … (2 comments)
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central florida real estate: Turning Up the Heat in Orlando Real Estate - 05/28/09 11:46 PM
It's hot in Orlando, nearly 90 degrees. For the first time in a long time, the housing market is hot too. According to the Orlando board of Realtors, home sales in Orlando for the past two months exceeded sales in March, 2008 by 47.59% and in April, 2008 by 42%. About half the sales for each of the two months this year were distressed or bank-owned.
It's a great thing that the distressed and bank owned homes are moving. This has made Realtors® like us who specialize in placing people in homes like this crazy busy, while showing our customers affordability … (4 comments)
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central florida real estate: Half-built Florida Homes - Bargain or Disaster-in-Waiting - 05/18/09 07:35 AM
Half built homes are intriguing to potential homeowners who think "Discount" when they see them. Often, these homes can be bought and completed for less than their intended sales price. Whether the homes are still owned by the builder or owned by a lender who foreclosed on the builder, a potential owner who brings in a contractor to finish them might have a new, unlived in home for a great price. According to David Carlyse of the National Academy of Building Engineers, there are definitely some things to evaluate before deciding to buy a partially built hom
The first thing is … (2 comments)
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central florida real estate: Bulldozing the Past - Half-built Homes Hit the Dust - 05/16/09 11:01 PM
If you live in Florida or other areas with high foreclosure rates, you may have wondered why homes continued to be built in many areas. Keeping in mind that there's always some market for new homes regardless of economics, more homes appeared than buyers with money. For many builders, who had already secured financing and who just finished the job as far as the financing covered, it became a waiting game to determine what to do with there properties.
With half-finished construction on their hands, builders had to make a choice of what to do with the property. Some waited it … (7 comments)
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Janice Petteway
Orlando,
FL
More about me…
Exit Real Estate Results
Address: 365 Wekiva Springs Rd. Suite 151, Longwood, FL, 32779
Office Phone: (407) 788-1226
Email Me
Your Expert for:
Central Florida real estate, Orlando real estate, Orlando home sales, Orange County, Seminole County, short sales, REO homes, bank owned homes, foreclosures, coaching, exit real estate results, extreme results team, real estate ethics, lakefront property specialist, relocation
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