joe harris: 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)

joe harris: Broker Open House in Rockledge Florida - 10/26/09 06:59 AM
Please join us this Thursday October 29th from 4pm to 6pm.


joe harris: 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)

joe harris: 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)

joe harris: 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)

joe harris: First Time Homebuyers…The Clock is ticking… - 09/02/09 06:37 AM
First Time Homebuyers...The Clock is ticking...
Uncle Sam wants you to buy a house!  If you are a first time homebuyer, he is even willing to give you an $8000 tax credit to do so.  Time is ticking away...this deal only lasts through November of 2009.  With rates still low, many properties to choose from that are aggressively priced, it really is the time to take advantage of the deals and get $8000 from Uncle Sam.
As I have outlined before, the program is simple, however, if you have any questions, you may want to check with your accountant or CPA.  … (0 comments)

joe harris: Brevard County Mortgage and Real Estate Market Data For July 2009 - 08/30/09 07:28 AM
Another Great month For  Brevard County Real Estate!
Here is a powerful and positive little fact: sales for single family residences for Brevard County are up over 22% for July of 2009 verses July of 2008.  That is an astounding year over year number.  Additionally, new listings are down slightly over 20% this July verses last July.  So, it looks like sales are up and inventory is down; this is a strong sign that the market is improving, and we are bottomed out.  If we continue on this track, this current real estate "sale" could end.
There are no real surprises … (0 comments)

joe harris: 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: Brevard County Foreclosure Myth's - 08/01/09 07:15 AM
According to the  Brevard County MLS, 30% of the single family residence sales, year to date, are marked as bank owned properties.  I am not sure of the exact amount that are short sales, however, these are also dominating the market. While we may be reaching the bottom of the market, these transactions are not going away anytime soon.
With the continual arrival of new foreclosed properties in the market place, I thought it would important to review and dispel some myths about bank owned properties from my personal experience.  This information comes purely from personally experience, and has not … (2 comments)

joe harris: What is a short sale? - 08/01/09 07:07 AM
Simply put: a short sale is when the seller of a property owes more on the property than they are selling it for.  So if the sellers owe $200,000 on a house, and they are selling it for $150,000, then they are asking the lien holder to take the loss for the difference or the short. 
Short sales are very common in this market environment due to decreased valued.  Short sales typically take longer than regular transaction because the bank has to approve of the sale.  The approval process may be lengthy because the bank may only service the loan, and … (1 comments)

joe harris: Young Professional's YPB event - 07/22/09 01:23 AM

The YPB is a great local organiztion with the mission statement "To inspire and empower career-minded individuals to engage in civic, social and professional development."  I thought I would put a plug out for this event (which is members only) that is happening tonight.

Members only networking @ the Brevard Art Museum
 Join other ypB members on July 22nd from 5:30 to 8:00pm. Get to know more about what the Brevard Art Museum has to offer. Get to know museum board members as they will be on hand for networking as well. Hors dourves and drinks will be provided … (0 comments)

joe harris: What a great time to be a first time home buyer! - 07/15/09 03:43 AM
What a great time to be a first time home buyer
Did you know that if you have not owned property in the last 3 years that you are considered a first time homebuyer?  That means that you may be eligible for the $8000 first time homebuyer credit if you purchase a home before December 1st, 2009.
The program is fairly simple: 
•         Must be first time homebuyer - That means you haven't owned a home in the past three years, and your spouse hasn't either if you're married.
•         Purchase home before December 1st 2009
•         File an amended return … (2 comments)

joe harris: Bring on the new mortgage regulations! - 07/12/09 06:53 AM
There is much new regulation coming down the pipe for the mortgage industry with Regulation Z changes, and RESPA changes; many of my peers are beside themselves and raving mad about the changes.  In the next years many of the rules that hold professionals in the mortgage industry accountable will become stricter.  This may sound crazy, however, I invite the changes with open arms.
Why are Mortgage Professionals any different than other professionals?  It is my job to be as exact as possible.  Wouldn't you be upset if an engineer or architect got "close" to building the road or building correctly?  … (4 comments)

joe harris: May’s Luxury Home Showcase was a wild success! - 05/29/09 03:20 AM
With over 25 agents attending from 10 different offices, this event was a wild success.  While giving exposure to the property is the goal, it is also nice to have a time to speak with your professional peers from a myriad of different offices.
For those who attended, thank you for previewing this spectacular property.  Please keep this wonderful home in mind when you have buyers that are looking for the very best. 
For those who did not attend, I hope to see you at next month's event.  If you did not receive an invite, and would like to attend future … (1 comments)

joe harris: Luxury Home Showcase - MAY - 05/26/09 02:37 PM
This month's Luxury Home Showcase is in the exclusive Cloisters Community in Indialantic.  THis is an invitation only event, however, please contact Joe Harris if you would like to attend this or future Luxury Home Showcase events.


joe harris: Opportunity Everywhere! - 05/26/09 02:26 PM
Market Data for April 2009 
After completing my market analysis for April, I continue to see that Brevard County remains one of the best values in coastal florida.  Between the rivers, and the beaches, where else can you enjoy such a high quality of life, and pay such a reasonable price for a house?
Check this out!  80% of the sales of single family residences in the month of April are under $200,000.  That means that home pricing has presented an opportunity for more people to achieve the dream of home ownership.
While the low priced sales get the majority of … (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

Email Me

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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