Karen Arbutine's Blog

Signs of Recovery: New Home Construction Up 17%

Karen Arbutine (RE/MAX Central Realty) — Tue, 16 Jun 2009 14:45:24 -0700

According to a report from the Census Bureau, the nation’s builders production in May is up 17.2%. Building permits have also seen an increase of 4%. This is a sure sign that the real estate market and the economy general is starting to recover.

The outlook for home sales has been slowing improving largely due to the implementation of the first-time home buyer tax credit, gains in housing affordability and lower interest rates.

If you are interested in new home construction or getting more information on the first-time home buyer credit, contact Karen Arbutine and Associates today at 888.727.7778.

Karen Arbutine is Recognized as Real Estate's Hot 100 by Orlando Magazine

Karen Arbutine (RE/MAX Central Realty) — Fri, 05 Jun 2009 10:29:26 -0700

Karen Arbutine with Re/Max Central Realty is featured in the June 2009 issue of Orlando Magazine as being one of Real Estate's Hot 100 Realtors.

The top 100 realtors chosen have fought their way through the the tough economic times by perseverance and hard work. Their sales continue to stay up as they continue to secure excellent deals for their clients.

Other factors Orlando Magazine looked at for selecting the top 100 include data on sales volume, value of sales, number of sales, number of listings and value of listings.

Preparing to Sell Your Home the Eco-Friendly Way

Karen Arbutine (RE/MAX Central Realty) — Tue, 21 Apr 2009 10:18:02 -0700

In this tough economy and ever changing environment, getting the maximum value from selling your home is hard. Every little bit you can do to increase your sales price helps. That’s were eco-friendly home preparation comes in to play.

Scrubbing your home down so it sparkles like new. Nothing can take the place of a spotless home. A clean home smells better and is more attractive to potential buyers. There a plenty of “Green Cleaners” that can be used that are not harsh on our environment.

Make sure you clean inside and out. A good pressure washing on the outside will make everything look like new.

Now that your home is all clean, you may want to repaint your home's exterior and interior to give it a fresh, new look. There are low- and no-VOC (volatile organic compounds) paints available and recycled paint made from bucket leftovers. By carefully cleaning your brushes and rollers, you can make them last longer and be usable for more paint jobs in the future. Trays can also be cleaned and reused. Reusable drop cloths can be used for years instead of temporary plastic ones.

Re-use the old furniture instead of buying new. Reupholstering or covering the old couch and chairs will bring a new look and feel to your living spaces. Give life to your old tables and chairs. Add a coat of leftover paint and tighten the screws.

Brighten your kitchen. The kitchen is a key selling feature to your home. You should make it shine. Clean down the cabinets and countertop inside and out with eco-friendly cleaners. If your cabinets need an update, consider re-staining them for a new look. Re-staining and reusing is less harsh on the environment. Replace old appliances with new can be better for the environment - replace your old stove and refrigerator with ENERGY STAR certified ones, which use less energy than appliances from former years. (And don't forget to buy certified appliances for your new home!) Your old appliances can be disposed of at your local recycling or reclaim center.

Bathrooms are another high selling point for potential buyers. Be sure to scrub your bathroom down. You can also replace your old toilet with a new ENERGY STAR low water flush toilet. This will help to conserve water.

Flooring can be updated with merely a good cleaning. Further work on hardwood floors can be effected by repairing isolated spots, sanding and re-staining. Carpets can sometimes look completely new with a thorough vacuuming and steam cleaning.

Preparing your home for sale the eco-friendly way can be easy! Just adhere to the principles of "reduce, reuse and recycle" for an environmentally responsible home preparation.

If you are interested in buying an eco-friendly home, please contact Karen Arbutine & Associates at 888.727.7778. They can give you a list of eco-friendly homes on the market.

2009 1st Qtr Home Marketing Reports

Karen Arbutine (RE/MAX Central Realty) — Wed, 08 Apr 2009 15:20:06 -0700

Lake Mary FL Homes for Sale

Property Listing Activity - Lake Mary FL

Active Homes on the Market 461
Pending Homes 87
Sold Homes 81
Average List Price$356,667
Average Sales Price $249,468
Average Days on Market 185

Heathrow FL Homes for Sale

Property Listing Activity - Heathrow FL

Active Homes on the Market 30
Pending Homes 7
Sold Homes 8
Average List Price $457,111
Average Sales Price $449,937
Average Days on Market 198

Sanford FL Homes for Sale

Property Listing Activity - Sanford FL

Active Homes on the Market 687
Pending Homes 131
Sold Homes 104
Average List Price $275,146
Average Sales Price $205,687
Average Days on Market 188

Longwood FL Homes for Sale

Property Listing Activity - Longwood FL

Active Homes on the Market 557
Pending Homes 86
Sold Homes 76
Average List Price $434,594
Average Sales Price $268,677
Average Days on Market 194

Windermere FL Homes for Sale

Property Listing Activity - Windermere FL

Active Homes on the Market 627
Pending Homes 133
Sold Homes 83
Average List Price $1,116,460
Average Sales Price $500,318
Average Days on Market 243

*Source: MLS 1st Qtr 2009 / Single Family Homes / Condos

If you're in the market to buy or sell real estate, please contact Karen Arbutine & Associates @ 1.888.727.7778 for a private consultation.

Karen Arbutine Ranked #4 for RE/MAX Florida Region

Karen Arbutine (RE/MAX Central Realty) — Mon, 06 Apr 2009 09:12:48 -0700

Congratulations to Karen Arbutine with RE/MAX Central Realty for achieving the #4 spot among the Top Performing Residential Teams in the RE/MAX Florida Region for the month of December 2008.

Her contribution to RE/MAX International’s record-breaking success is recognized and admired throughout the RE/MAX Florida Region. Her outstanding achievement serves as a powerful model of professionalism for each and every Sales Associate on the RE/MAX team.

First Time Home Buyer Credit

Karen Arbutine (RE/MAX Central Realty) — Wed, 25 Mar 2009 13:18:48 -0700

In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers.

Time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible.

If you are a first-time home buyer and would like to get pre-qualified contact Karen Arbutine and Associates today at 888.727.7778 to get started.

2009 FHA Mortgage Limits

Karen Arbutine (RE/MAX Central Realty) — Wed, 25 Mar 2009 13:16:56 -0700

As a result of the enactment of the Housing and Economic Recovery Act of 2008 (HERA), HUD released the new 2009 FHA Mortgage limits for 2009. These limits went into effect Feb 25, 2009. For more information or to get pre-qualified for a loan contact Karen Arbutine and Associates at 888.727.7778.

Seminole County	$353,750
Orange County	$353,750
Osceola County	$353,750
Lake County	$353,750
Polk County	$271,050
Volusia County	$303,750

Fannie Mae & Freddie Mac - Increase Fees as of April 1st

Karen Arbutine (RE/MAX Central Realty) — Sun, 08 Mar 2009 21:14:07 -0700

As of April 1st 2009 Fannie Mae and Freddie Mac will be increasing their fees making it harder for those wishing to purchase a home. The following is an article written by Kenneth R. Harney on the drastic changes coming…

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Fannie Mae, Freddie Mac crank up the charges

It may not be what home buyers, sellers and refinancers want to hear, but they need to know: Fannie Mae and Freddie Mac are ratcheting up their mandatory fees and toughening credit score and down-payment rules as of April 1.

Most major lenders already are pricing in these higher fees, effectively raising costs to borrowers immediately and reducing the impact of housing stimulus efforts from Congress and the Obama administration.

Under Fannie’s and Freddie’s new guidelines, even applicants who assumed that their FICO credit scores would get them favorable rates will be charged more unless they can come up with down payments of 30 percent or more. For example, a buyer with a 699 FICO score who brings a sizable down payment of about 25 percent to the table will be hit with a 1.5 percent “delivery” fee at closing under the new guidelines.

A buyer with a FICO score between 700 and 720 will pay an extra three-quarters of a point. Even someone with a 739 FICO - once considered a platinum guarantee of the best rates available - will get dinged with a quarter-point add-on.

Condominium buyers who cannot come up with a 25 percent down payment will be hit with a three-quarter point add-on penalty, no matter how high their credit score - simply because they are not purchasing a traditional detached, stand-alone house.

Buyers of duplexes, where one unit is owner-occupied and the other is rented, will be charged a flat 1 percent add-on from Fannie, even if they have FICOs above 800 and make 50 percent down payments. Refinancers who take cash out at settlement also will be forced to pay extra - as much as three points if they have low credit scores and modest equity stakes.

Both Fannie Mae and Freddie Mac say they are tacking on these extra fees to counter higher risks and losses associated with certain loan products, buyer equity stakes and credit scores. Declining home values in many parts of the country are intensifying losses for both companies when loans go to foreclosure.

Although they were quasi-private enterprises until September, Fannie and Freddie now are operating under federal control and are bleeding billions of dollars of red ink. Freddie spokesman Brad German said that some of the loan categories and credit risk combinations targeted in the latest round of fees “default at four to eight times” the rate of other mortgages in the company’s portfolio. “We have to manage these risks appropriately,” he added, and that means pricing them based on the probability of higher losses.

However, real estate agents, mortgage bankers and brokers are incensed at the new round of fee increases, calling them counterproductive in an environment in which housing needs help, not new impediments. They have begun lobbying Congress and the two companies’ federal overseers to scrap the latest add-ons.

Charles McMillan, president of the National Association of Realtors, complained in a letter to the Federal Housing Finance Agency, the regulator of Fannie and Freddie, that the individual fee increases weren’t justified, and that in combination they could seriously deter home purchases.

“They’re shooting themselves in the foot,” said Steve Stamets, a mortgage loan officer in Rockville. With substantial down payments of 20 percent and more, Stamets said, “they don’t need to be that tough,” even if home prices decline slightly more before the cycle ends.

“When consumers with 720 credit scores are being adjusted, there is something seriously wrong with the system,” said Harry H. Dinham, a Dallas mortgage company owner and former president of the National Association of Mortgage Brokers.

As recently as two years ago, FICO scores in the upper 600s were enough to qualify any applicant for prime financing. Now scores of 720 to 740 are the bare minimum if you’re going to escape add-on fees - and still not good enough if you choose to buy a condo or a duplex.

Where is all this headed? Without congressional intervention or new marching orders from the companies’ regulator, the add-on fees are here to stay.

But there’s an alternative available for just about anyone who wants to avoid the fees: Federal Housing Administration mortgages, where down payments go as low as 3.5 percent and credit scores are not an issue for most applicants.

Orlando Business Journal Recognizes Karen Arbutine’s Record-Breaking Deal

Karen Arbutine (RE/MAX Central Realty) — Sat, 07 Mar 2009 20:12:45 -0800

Residential and commercial real estate in Central Florida slowed considerably in 2008, as the effects of the credit crunch and sour economy trickled down to developers, contractors and those wishing to buy or sell real estate. Through these tough times Karen Arbutine with RE/MAX Central Realty was able to pull through and succeed.

In 2008, Karen Arbutine sold the most expensive home in Seminole County. This high profile transaction was touted as the best deal for the buyer, a professional athlete who Karen Arbutine represented.

In the February 2009 issue of the Orlando Business Journal, Karen Arbutine’s deal was named as the “Best Single-Family Residential Deal: Dwight Howard”.

The article went on to say that, “Orlando Magic center Dwight Howard broke the record for the largest single-family home buy in Seminole County with his October purchase.”

“Howard bought the 11,000-square-foot home dubbed Chateau d’Usse, for $7.8 million - the highest home sale in the area this year. The home was the largest one featured in the 2008 Street of Dreams luxury home show in Lake Club.”

If you are looking to buy or sell real estate in the tough market contact Karen Arbutine & Associates at 888.727.7778 for a free consultation.

Re/MAX | Globally Connected Marketing Center

Karen Arbutine (RE/MAX Central Realty) — Fri, 06 Mar 2009 10:22:43 -0800

Connecting Buyers & Sellers Worldwide

RE/MAX is the leading authority in the real estate industry. It has a global network of offices that spans more that 65 countries worldwide. The power of the RE/MAX name boost business and attracts consumers from all over the world who are in the midst of the home buying and selling process. RE/MAX is dedicated to expanding is global marketing to remotes parts of the world giving you more visibility and endless possibilities.

Karen Arbutine a leading RE/MAX real estate professional, utilizes the global marketing power of RE/MAX to its fullest. By selling your home with Karen Arbutine and RE/MAX you will have the distinct advantage over other companies and agents. You can rest assure that your listing will be positioned on the market to sell and will have maximum exposure through RE/MAX’s global connections.

By buying your home through RE/MAX and Karen Arbutine you will save time and money through the home buying process. As a RE/MAX professional Karen has the knowledge, experience and community connections to help you find the home of your dreams.

RE/MAX is the real estate network that has the most competitive advantages to offer those in the home buying and selling process. Thanks to its global network and stellar reputation, it's no wonder RE/MAX is the name people turn to when they embark on the home buying and selling process.

Nobody in the world sells more real estate than RE/MAX!

Florida Public Foreclosure Auctions: What You Should Know

Karen Arbutine (RE/MAX Central Realty) — Thu, 05 Mar 2009 12:41:23 -0800

Tough economic times bring opportunities for those that have extra capital to invest in real estate. Those looking for a real estate bargain in Orlando, Florida should consider buying a house through a Florida Public Auction.

Purchasing a home through a Florida Public Auction does come with a lot of risk. You are buying the property “as is”. That means you can not go in an inspect it, and generally people who have fallen behind on mortgages don’t always properly maintained the home.

When going into a Florida Public Auction you may encounter other savvy bidders that purchase homes through Florida Public Auctions for a living.

Another downside to purchasing homes through Public Auctions is that you will not be able to finance the home so you must pay cash. Mortgage companies will not finance auction properties because they can not inspect or appraise them.

Purchasing a home through a Public Auction can yield substantial savings. Generally, a home that is bough through an auction sells for about 40% below market value.

If you are interested in purchasing a home through a Florida Public Auction you need Karen Arbutine and Associates on your side. They can provide you a list of homes in the Greater Orlando market that are up for a Florida Public Auction and come up with a bidding strategy for the value of the home or homes that you are wishing to bid on.

Call Karen Arbutine and Associates at 888.727.7778 today for more information on Florida Public Auctions.

Click here to browse Florida Public Foreclosure Auction Homes

Finally Good News for Home Buyers

Karen Arbutine (RE/MAX Central Realty) — Thu, 11 Sep 2008 21:33:40 -0700

“Mortgage rates have dropped .5% and are expected to drop even further.”

Just recently the US Government has assumed control of the mortgage giants Fannie Mae and Freddie Mac in efforts to stabilize the financial markets. This move was taken as a necessary reaction to financial concerns that Fannie and Freddie could collapse due to financial insecurity. If Fannie and Freddie were to collapse, the housing market would collapse altogether.

This is good news for home buyers and aims to put downward pressure on mortgage rates to ensure home loan funding remains available. These necessary steps will help to strengthen the U.S. housing market and promote stability in our financial market. In turn, we will see lower mortgage rates, continued availability of funding for consumers with good credit, renewed global investor confidence, and stocks prices increasing on "improved economic stability".

Mortgage rates are expected to drift into the 5.5% range within the coming weeks. This could be temporary. So now in the time to review your mortgage and see if you can take advantage if the changes in the mortgage market.

For more information on how you can take advantage of this great opportunity in the mortgage market call Karen Arbutine at 888-727-7778.

Build your Custom Home in Orlando, Florida Today

Karen Arbutine (RE/MAX Central Realty) — Tue, 09 Sep 2008 09:46:59 -0700

It has never been a better time to build an Orlando Florida custom home or to do that renovation that you’ve always wanted to do than now. Prices of lots in the Greater Orlando area have come down significantly and mortgages are still at an all time low.

Now is your chance to have that dream home. There are many custom home builders here in the Central Florida area that are ready to get to work for you. Land is more affordable, sub contractor and supplier costs are down, turn-around time is quicker due to contractor availability, quality standards are higher, and interest rates are at a 40 year low. Orlando builders and interior designers are offering better services.

The time is now to start your custom home project in Orlando. It takes approximately 18 months to complete new home construction. If you wait until the market “looks good” then you will have missed your opportunity. Take full advantage of this buyers market now. By getting in now, you will have the chance to develop your custom home plans, pull permits needed to complete the project and then go through the approximate 12 month building process. By the time your custom home is complete the economic market conditions as predicted will have recovered. Once the market has recovered prices will go back up. So it will cost you more to build if you wait too long and miss out on this great opportunity.

If you are looking to get in on this excellent opportunity to build a custom home in the Greater Orlando area, call Karen Arbutine today at 888-727-7778. She is an expert in the in the custom home building field and can help lead you on the right path to building your dream home and in finding the right location for you. If you are looking to renovate Karen Arbutine can put you in contact with some of the most sought after contractors in the renovation business.

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If you are looking to build a luxury custom home in the Lake Mary / Longwood area there are still 3 beautiful lake front lots available in the Lake Rice community, just waiting for you to bring your builder. Call Karen Arbutine today for more information on these lots. Don’t let this opportunity pass you by.

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Orlando's 2008 Street of Dreams Luxury Home Showcase | Lake Mary / Longwood Real Estate News

Karen Arbutine (RE/MAX Central Realty) — Sat, 09 Aug 2008 16:29:40 -0700

This year Orlando's 2008 Street of Dreams Luxury Home Showcase was hosted right here in Longwood / Lake Mary, Florida of off Markham Woods Road. The Street of Dreams featured the most stunning luxury homes for sale in the exclusive Lake Club community. This beautiful community also has 3 spacious lots for sale and are ready for you to bring your builder. Each of these 3+ acre lots has a breathtaking view of Lake Rice. For more information on the available Street of Dreams homes or parcel of land for sale please contact Karen Arbutine @ 1-888-727-7778.

Street of Dreams Lake Mary / Longwood Homes for Sale

Lake Club Exclusive Lots for Sale