brevard county: Has the Brevard County Real Estate Market hit Bottom? - 02/15/10 02:35 AM
Brevard County Mortgage and Real Estate Market Data For January 2010
     Welcome to the first market data report for Brevard County Real Estate of 2010. While 2009 turned out to be a good year for both the reduction in inventory, and sales of existing inventory, it also proved to be the year of lending changes, and bottoming out prices. With 2009 in the distant past, we now get our first glimpse into the new decade for 2010.
     Not too surprising, the vast majority of sales were under $200,000 with 76% of all residential transaction selling between $0 and $199,999. … (0 comments)

brevard county: FHA Mortgage Update: FHA loan changes and what you need to know - 01/20/10 04:52 AM
While it is not official yet, it looks like the FHA is about to make several major changes that will affect borrowers in Brevard County, Florida and the rest of the country.  The talked about changes will affect the cost of mortgage insurance, the down payment, the amount of seller paid closing costs, and also some steps towards being able to better oversee and regulate lenders originating FHA loans.
The FHA does not actually lend money; the FHA insures loans made by lenders that meet the guidelines set forth by the FHA.  In order to insure these loans, all FHA loans have … (0 comments)

brevard county: Beautiful Home Showcase: please join us at this spectacular Melbourne Beach property! - 12/07/09 06:02 AM


brevard county: Does a 60% annual rate of return sound good to you? - 11/30/09 12:16 AM
Everyone knows that when you refinance your current mortgage into a new one you can benefit in better terms, better interest rate, better payment, and you may skip a month of your mortgage payment, however, most people do not look at the opportunity cost of the money that it costs to do the refinance.  What rate of return is your money getting right now as it sits in the bank? A half a percent?  A whole percent?  I doubt it is doing much better than that.
What if I told you that you could receive a guaranteed rate of return on … (2 comments)

brevard county: Interest rates have only one way to go… - 11/18/09 07:09 AM
Let me make a statement, and I hope you truly digest what I am about to say:  the interest rates on mortgages here in Brevard County, Florida are about 1/8% off of their lowest levels in history.  That means that if you qualify for a mortgage, you could potentially get a better rate on your loan than just about anyone in history.  With interest rates and home prices as low as they are, and with the first time homebuyer tax credit extended into 2010, people should be lining up to buy homes.  However, these rates have only one way to go, … (6 comments)

brevard county: Brevard County Mortgage and Real Estate Market Data: September 2009 - 10/09/09 06:16 AM
Is the Market Changing?
Brevard County real estate sales continue to thrive.  New listings are down, sales are up, and interest rates are still at historically low levels.  With sales up almost 20% year over year, and inventory down about the same, it seems as though the market is moving at a fairly decent pace.  So ask the question: is the market changing?
Sales continue to show strong numbers, and inventory is decreasing.  With 79% of the sales being under $200,000, buyers are still looking for the bargains.  These "bargains" are going fast, as 37% of September sales sold in less … (0 comments)

brevard county: Brevard County Mortgages in a reasonable amount of time - 10/09/09 03:30 AM
There is much talk out there of retail lenders in Brevard County not closing loans in 30 days.  I am still closing loans in 30 days.  While there are instances where more time may be needed, a normal transaction can be completed in this time.   With the First time homebuyer program coming to an end on November 30, make sure that you are working with someone who can close your loan in a reasonable amount of time.
Of course that timeline comes with some conditions, and here are the caveats: I need to have all necessary documentation including a clear fully … (0 comments)

brevard county: Qualifying for a mortgage after a short sale - 09/15/09 06:46 AM
Many Thousands of Americans have had to sell their house through a short sale in the past few years.  Who would have guessed a few years back that prices would plummet like they did?  Here in Brevard County, home prices in some areas have been more than cut in half. 
If you had to sell your house short, more than likely the credit report will show a mortgage settled for less than owed.  If you go to apply for a mortgage, there are new rules surrounding this type of derogatory credit.  The new rules  for Fannie Mae says that it must … (2 comments)

brevard county: Brevard County FHA Mortgage update: Current County Limits - 08/25/09 01:07 PM
The FHA is a great loan as it gives home owners a very low down payment option, allows features that conventional loans do not (a conventional loan is any loan that is not a government loan), and has historically very low interest rates.  Currently the FHA will allow a loan amount up to $291,250 for a single family residence in Brevard County, Fl.  Right now this limit is good through the calendar year 2009, however, there is talks of extending the limits into 2010.
Just to recap, here is a list of some features of the FHA loan:
Source of Down … (0 comments)

Joe Harris (Morgan Financial)

Joe Harris

Melbourne, FL

More about me…

Morgan Financial

Address: 2720 N Harbor Blvd, Melbourne, Fl, 32935

Office: 321(757) 357-0201

As a Brevard County Mortgage Expert, Joe writes on all things related to the mortage industry and other related events for Brevard County, Fl.




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