This is surprising and, what's more, 6% of foreclosures are NOT from mortgages obtained during the boom - they're this year. What's up with that?
Maybe, just maybe, the Banks will start releasing the "hidden" inventory of pre-foreclosed homes sitting in the courts. There are hundreds in the Orlando area.
First time home Buyer's could use a break. There's not enough affordable inventory for them to take advantage of these historically low mortgage rates. Imagine borrowing $1,000 for $5 a month.
Owning a home is as affordable as rent. It's just tough to find affordable homes. Releasing more of these homes could be a solution. If you're looking for a home, search here -www.lovewhereyouliveorlando.com
Why now, and not earlier? Prices, are not appreciating as much as a year ago. They're up 13% this year versus 28% a year ago.