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Short Sales are Starting to get Accepted At a Greater Rate - 03/25/11 01:47 AM
Short Sales are Starting to get Accepted At a Greater Rate here in Kissimmee and Saint Cloud, Florida. The past two years, the success rate was about 20%. Banks are now understanding that if they have a contract with an interested buyer, they need to give these contracts consideration. Bank Owned inventories are at an all time high and Banks are having trouble here with the foreclosure process as three prominent Attorneys firms are under a states attorneys indictments. Short Sales can alleviate the need for attorneys intervention. So, they are disposing of problem loans without the expense and problems that (4 comments)
What's Up With Inventory Levels? - 03/18/11 06:14 PM
Well, you all know I have been harping about inventory levels increasing and values inevitably decreasing. If you have been paying attention to the Real Estate market in Kissimmee and Saint Cloud, Florida, why are inventory levels decreasing? The reason, Banks are not releasing the Bank Owned inventories. Three of the major foreclosure attorneys are under indictment for robo signing and mortgage fraud by the Sates Attorney's office. The largest firm has announce that as of March 31,2011, they will no longer be in the foreclosure business. This shake up has banks scrambling to find alternative representation. These new attorneys are trying (0 comments)
Home Ownership at a 10 Year Low - 03/09/11 12:41 AM
With Home Ownership at a 10 Year low, more people are renting. It is only logical, with the country having a record year of foreclosures for the third yearin a row. Where do these families go? They have to rent since trying to buy a home with a foreclosure on your credit score will limit most to not getting a mortgage for a few years. Lenders are not as flexible with credit, hence even without having a foreclosure, many people just don't qualify with the new underwriting of mortgages. So, home ownership is dropping. With renting increasing, and the values of homes (16 comments)
Kissimmee, Florida Bank Owned Properties - 03/07/11 09:42 PM
Although Bank Owned Properties in Kissimmee, Florida are not dominating the number of listings on the market today, (Short sales are), they are still driving prices lower. The average value of sold homes has been eroding in the past 36 months to below $110,000. This erosion will continue this year as we are on track for another record year of foreclosures. The time to buy a home a rock bottom is going to be this year. If moving up in a home purchase is your goal, or you are a first time buyer, get started, it is your time. We will (6 comments)
Inside the Numbers of Listed Homes in Osceola County Florida - 03/06/11 01:10 AM
Analyzing the numbers in Osceola County Florida: Single Family Home Active listings: Bank Owned 253 Short Sales 877 Traditional 868 Total 1998 Single Family Home Pending, or Under Contract: Bank Owned 416 Short Sales 800 Traditional 225 Total 1441 In 2011, 2019 homes were Sold. That is just an average of 168 a month. Looking at the numbers one can conclude that we are having a spike in home sales! We have 71% of last years entire sales pending. Now in normal times these pending homes would be closed in 45 days. But, these are not normal times. The 800 pending short (0 comments)
Is Now the Right Time To Sell My Home - 03/02/11 12:14 AM
Today I had a listing appointment with a seller that has his house for sale "By Owner". We talked for a while about where the values have gone in the past two years. The median value for homes sold in the zip code went from $153,000 to $110,000. That's a decrease of 28% in two years! I explained that the market is still declining and we may see an additional 13% in current values this year, or a decrease in the median value of $13,300 to $95,700. The potential seller responded that he would just wait until values come back. Well I explained, (16 comments)
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.