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Buying or Selling, Ask Your Realtor for Recommendations - 04/28/10 08:31 AM
There is something called RESPA which stands for Real Estate Settlement Procedures Act. It basically is designed to protect consumers in the real estate process by requiring disclosure of fees charged by all the professionals involved in the transaction. The real estate licensee has to disclose any transaction fees they may be charging, and the title agent has to account for the fees they charge on the closing statement. Additionally, for the buyer, lenders have to provide a Good Faith Estimate or GFE. If there are any fees being paid between the professionals in the transaction, that must be disclosed as (0 comments)
Orlando Real Estate Latest April Statistics - 04/25/10 08:28 AM
I mentioned in my blog on Friday that lending may be loosening up a bit here in Florida with the return of 95% LTV (loan to value) conventional financing returning. If financing becomes more accessible, we may start to see some really good numbers. As it is right now, sales have picked up considerably in the last two months. March saw over 2,600 sales with a median price around $110,000. So far in April 1,469 sales have been posted and with Friday being the 30th look for a lot more to close this week. I am still expecting at least 2,400 (1 comments)
Pending Home Sales Stll On the Rise in Orlando - 04/20/10 08:51 AM
As of this morning, Orlando Realtors have 10,747 contracts pending. When a contract is pending, that means the buyer and seller have come to terms in writing. There are always contingencies such as inspections and financing, and in the case of distressed properties "third party approval." It is the financing and third party approval contingencies creating the bottleneck in the process. There are currently 6,539 short sales and another 2,305 REO's with contract pending, and virtually all of these are at some stage of third party approval. While the REO's typically do not get held up for approval, the short sales (2 comments)
Live in Orlando - 04/19/10 07:40 AM
More and more I run into people that live here in Orlando just because they choose to. They did not come here for work or come here because of family. Many of these people work from home telecommuting to wherever their talents are needed. Many of them travel for work, and only need to have access to an excellent airport. If you are part of the virtual workforce or travel as a major part of your job, consider moving to Orlando. Here are a few reasons my customers have given me why they are here. The travelers love our airport. Orlando (4 comments)
Children's Miracle Network - 04/14/10 05:35 PM
Just a quick thanks to the folks at FBC Mortgage, especially Jay McPherson for hosting our breakfast meeting this morning with the great people over at Children's Miracle Network. Thanks to Brio for making a great breakfast. It was really nice to find out just how well the local Remax offices including Remax 200, Remax SouthWest and Remax Select have supported the local effort for CMN. A very special thanks goes out to JP and his family for joining us this morning and sharing their very personal story, and how CMN has made a difference in their lives. Locally, CMN supports (1 comments)
Cash is Still King in Orlando Real Estate - 04/08/10 02:58 PM
Well here are my final March numbers. The official numbers will be released around the 20th, and they should look something like this. Active listings remain pretty steady with 16,350 of which 11.9% or 1,941 were bank owned, and 5,998 or 36.7% were short sales. Altogether, 48.6% of the active listings are distressed properties. Distressed properties make their biggest impact in the pending sales. Currently, there are (are you sitting down?) 10,307 pending sales in the Orlando marketplace. 2,177 or 21.1% are REO's and a whopping 62% or 6,392 are short sales. They combine for a total of 83.1% distressed properties (2 comments)
What's Great About this Real Estate Market? - 04/06/10 12:07 PM
Rock Thomas spoke at our business meeting this morning, and one of his principles he lives by is asking the question "what is great about this?" If there really is not something great then "what could be great about this?" That made me think about the real estate market that we have been in for over three years now. Thinking back to 2004-2006, buyers were getting priced out of the market and it was difficult to find homes available for sale. What is great about the current market, is that there are a lot more homes available. What is great about (3 comments)
March Came in Like a Lion... - 04/01/10 07:44 AM
...and went out the same way. Sales jumped way up last month, and the final numbers won't be in for several days. As of last night closed sales were over 2,200, so we will easily make my prediction of 2,400 - 2,500 closed sales for the month. With nearly 10,200 pending sales recorded right now, April should be another terrific month. While about 6,200 are short sales the remaining contracts should have a high likelihood of closing next month. I am going to go ahead and predict another 2,400 will close in April. Things are not slowing down at all. When (4 comments)
Orlando Real Estate Blog, news, statistics, marketing reports, insight, opinions. Orlando real estate includes, Winter Park Windermere, Apopka, Ocoee, and Winter Garden, as well as Conway and Dr. Phillips areas of Orlando.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.