The following are the market sales statistics for Lake Mary, Seminole County, Florida for November 2009.  Lake Mary is made up of the zip code 32746.  For purposes of this analysis we will be splitting the data according to single-family homes vs, condominiums, townhomes and villas. A couple of definitions are in order.  The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time - in other words, it's the midpoint of sale prices.  So basically what this means, is that the median sales price is showing market activity in that it's specifically indicating which price range is more active. The average sales price, as opposed to the median sales price, is the total volume of sold properties divided by the number of pr... 12/16/2009

The Federal Open Market Committee meets today for the last time in 2009.  It's a 2-day meeting and the Fed is expected to leave the Fed Funds Rate near 0.000 percent. But that doesn't mean mortgage rates won't change. See, a major misperception among the public is that the Federal Reserve sets mortgage rates. That's false.  Mortgage rates are based on the price of mortgage-backed bonds. As an example, since 2000, the Fed Funds Rate and the 30-year fixed rate mortgage have been within 1 percent of each other at times, and as far apart as 5 percent at others. If there was a direct relationship between the two, such a spread would be impossible. The Federal Reserve doesn't set mortgage rates. Wall Street does.  However, whenever the Fed adjourns from its meetings, mortgage rates are suscep... 12/14/2009

These statistics for  Lake Mary Luxury Real Estate Sales in November 2009 should give you a feel for what’s happening in the luxury segment of the Orlando FL real estate market. Street Date Sold Original List Price Sold Price Beds Baths Sq Ft Pool LANGHAM 11/04/09 $699,900 $584,000 4 4 3589 Y SADDLEWORTH 11/05/09 $1,500,000 $700,000 5 8 9227 Y BROOKHAVEN 11/13/09 $725,000 $600,000 5 3 3241 N HIGHCROFT 11/23/09 $549,000 $505,000 4 4 3502 Y   Properties have been listed and sold by various MLS members. Data drawn from the My Florida Regional Multiple Listing Service. Homes listed above $500,000 often take longer to sell than properties priced at the lower end of the market. While many houses priced below $500,000 may take 6 or 7 months to sell, homes in upscale neighborhoods may take as m... 12/12/2009

It's official -- home prices are no longer in free fall. According to the Federal Housing Finance Agency, the Home Price Index posted its first quarterly increase since 2007 last quarter. The news was reported Tuesday. The Home Price Index is an interesting metric.  It's huge in its scope, accounting for every home sold in the country that backs a mortgage bound for Fannie Mae or Freddie Mac with two notable exceptions: It doesn't track new construction It doesn't track multi-unit homes Because the Home Price Index makes these specific exclusions, and because it doesn't account for FHA and jumbo mortgages, some analysts discount the HPI's relevance.  They prefer the private-sector Case-Shiller Index instead. Now, to be fair, the Case-Shiller has its own set of flaws, too. For example, ... 11/24/2009

Phew it's been a year of hard work and dedication to not only myself but to my clients and my business. Through that hard work and dedication I have been able to achieve RE/MAX's coveted Platinum Club Status. I wasnt sure if I would be able to do it but with 40 days left in the year, it's official! I want to give a big Thank You to all my customers who continue to refer me to their friends and family and who allowed me to help them with their biggest and most special financial purchase in one's life. It's been an honor working with and building relationships with each and everyone of you and I look forward to many more great years to come!   My grandmother always said when the streets run red with blood buy buy buy! Now is the time people, a down market is a great time to purchase, the ... 11/19/2009

A "Housing Start" is a home on which construction has started and, for the 4th straight month, national single-family housing starts held steady last month. When the demand for homes grows faster than the number of homes for sale, prices increase. As recent home sales data confirms, buyers currently outpace sellers and one consequence of this is an increase in multiple-offer situations this year. It's no wonder home prices are up across so many neighborhoods. October's Housing Starts report is ....... Read the COMPLETE BLOG POST HERE: Housing Starts Are Down And Why It's Terrific News For Sellers   --------------------------------------------------   Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-... 11/19/2009

These statistics should give you a feel for what’s happening in the luxury segment of the Orlando FL real estate market.   Street Date Sold Original List Price Sold Price Beds Baths Sq Ft Pool SADDLEWORTH 10/30/09 $1,800,000 $1,411,750 5 7 7715 Y LAKE MARY 10/01/09 $1,595,000 $1,240,000 3 2 2678 N BRACKENHURST 10/27/09 $850,000 $825,000 4 4 4473 Y HENLEY DOWNS 10/23/09 $749,900 $684,000 4 4 3914 Y SIMONTON 10/19/09 $649,900 $476,090 4 3 3185 Y SWEETGUM VALLEY 10/30/09 $599,000 $560,000 4 2 3930 Y   Properties have been listed and sold by various MLS members. Data drawn from the My Florida Regional Multiple Listing Service.   A few tidbits of note ... Homes listed above $500,000 often take longer to sell than properties priced at the lower end of the market. While many houses priced belo... 11/18/2009

The following are the market sales statistics for Lake Mary, Seminole County, Florida for October 2009.  Lake Mary is made up of the zip code 32746.  For purposes of this analysis we will be splitting the data according to single-family homes vs, condominiums, townhomes and villas.   A couple of definitions are in order. The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time - in other words, it's the midpoint of sale prices. So basically what this means, is that the median sales price is showing market activity in that it's specifically indicating which price range is more active.   The average sales price, as opposed to the median sales price, is the total volume of sold properties divided by the number of p... 11/13/2009

These smart homeowners didn’t have to lose their house to foreclosure. Instead, they hired a real estate agent to help them sell their house as a Short Sale. Street Date Sold Original List Price Sold Price Beds Baths Sq Ft Pool PICKFAIR 10/29/09 $279,000 $272,000 4 2 2205 N SHADY OAKS 10/19/09 $479,000 $230,000 4 2 2429 Y MALVERN 10/30/09 $319,900 $300,000 4 2 2390 Y SWEETGUM VALLEY 10/30/09 $599,000 $560,000 4 2 3930 Y  Properties have been listed and sold by various MLS members. Data drawn from the My Florida Regional Multiple Listing Service.   Because the payoff of a loan will be ‘shorted’ by a significant amount, the mortgage lender must approve a Short Sale. Handled properly, the likelihood of successfully selling your house as a Short Sale is high. Once the Short Sale is behind y... 11/08/2009

Orlando Home buyers you have heard it hear first. The Extension of the First time Home Buyer tax credit and addition of the move up buyer credit is official it has passed the house and senate and sits for the President to sign tomorrow. IF you want to go to my previous post to read more about the Home Buyer Tax Credit.    This is great news for people selling Orlando Real Estate and Lake Mary Real Estate and for home buyers of all kinds to take advantage of the low prices, low rates and now the free money.  11/05/2009

The Federal Open Market Committee caps off a scheduled, 2-day meeting today in the nation's capital, its 8th meeting of the year. The group adjourns at 2:15 PM ET and, as is customary, will issue a press release reviewing its monetary policy and the health of the U.S. economy. The FOMC's post-meeting statements are brief but comprehensive. They're a window into the mind of the Federal Reserve and Wall Street picks apart every sentence for clues. It's why FOMC meetings tend to shake up the mortgage markets -- for good and for bad. After its September 2009 meeting, the FOMC said in its press release:..... Read the COMPLETE BLOG POST HERE: Because Of The Federal Reserve, You Should Lock Before 2:15 PM ET Today   ------------------------------------------   Chris is Florida's #1 FHA Mortgag... 11/03/2009

For August, the Case-Shiller Index showed annual home values improving across 19 of 20 U.S. markets. It's the first time in 3-plus years that the benchmark housing index has shown such strength. According to a Case-Shiller Index spokesperson, "The rate of annual decline in home price values continues to improve." It's yet another sign that housing may have already bottomed. However, just because the Case-Shiller Index shows a stabilization in home values, that doesn't necessarily make it true. This is because real estate happens on the local level and the Case-Shiller Index is more "national". It tracks data in just 20 U.S. cities. Homeowners everywhere else are....... Read the COMPLETE BLOG HERE: Home Values In 95% Of Case-Shiller Markets Are Improving Year-To-Year   ------------------... 10/27/2009

Okay, I am no Doctor, I don't even play one on TV... but what I do know is that what people care about is useful information online, and that is what Orlando Mortgage Chili Blog is all about. So - here it goes. I encourage you to do your own research as well - even check with your doctor before taking this to heart, but here is a nice, succinct chart on comparing the regular cold or flu with the H1N1 Swine Flu. To see the FULL comparison Chart: How Do I know the difference between the Flu and the Swine Flu? -----   Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, the newest contributor to Lenderamaand recently feat... 10/19/2009

The following are the market sales statistics for Lake Mary, Seminole County, Florida for September 2009.  Lake Mary is made up of the zip code 32746.  For purposes of this analysis we will be splitting the data according to single-family homes vs, condominiums, townhomes and villas.   A couple of definitions are in order. The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time - in other words, it's the midpoint of sale prices. So basically what this means, is that the median sales price is showing market activity in that it's specifically indicating which price range is more active.   The average sales price, as opposed to the median sales price, is the total volume of sold properties divided by the number of... 10/14/2009

These smart homeowners didn’t have to lose their house to foreclosure. Instead, they hired a real estate agent to help them sell their house as a Short Sale. By finding a ready, willing, and able buyer, they were able to stop foreclosure proceedings in their tracks and walk away with a clean ‘financial’ bill of health. In some cases, they may have had to sign a promissory note for a percentage of their total obligation. The important thing, however, is that they were able to salvage the ruinous credit rating they would have incurred with a foreclosure. Better yet, in as little as two years — or even less — they’ll be able to purchase a new home with a conventional mortgage. Street Date Sold Original List Price Sold Price Beds Baths Sq Ft Pool LAKEBREEZE 09/28/09 $140,000 $140,000 3 2 15... 10/09/2009

Lake Mary First Time Home Buyers have you been sitting on the fence thinking about buying, really wanting to buy so you can take advantage of the free $8000 tax credit out there. Well dont sit too much long as the deadline for the tax credit is fast approaching. Many of you know the incentive runs out on November 30, 2009 That's almost 2 months away, I have plenty of time. WRONG! The standard FHA financing deal takes a minimum of 45 days now thanks to Regulation Z. With that being said lets say you put a contract in this weekend October 3 and it's excepted that day. The soonest you could close would be November 18. Phew just 12 days to spare. But wait lets back up a little bit and review dates.   It takes 45 days on average for an FHA loan can take up to 60 days. A lender cant process y... 09/30/2009

Lake Mary First Time Home Buyers have you been sitting on the fence thinking about buying, really wanting to buy so you can take advantage of the free $8000 tax credit out there. Well dont sit too much long as the deadline for the tax credit is fast approaching. Many of you know the incentive runs out on November 30, 2009 That's almost 2 months away, I have plenty of time. WRONG! The standard FHA financing deal takes a minimum of 45 days now thanks to Regulation Z. With that being said lets say you put a contract in this weekend October 3 and it's excepted that day. The soonest you could close would be November 18. Phew just 12 days to spare. But wait lets back up a little bit and review dates. It takes 45 days on average for an FHA loan can take up to 60 days. A lender cant process you... 09/30/2009

The following are the market sales statistics for Lake Mary, Seminole County, Florida for August 2009.  Lake Mary is made up of the zip code 32746.  For purposes of this analysis we will be splitting the data according to single-family homes vs, condominiums, townhomes and villas.   A couple of definitions are in order. The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time - in other words, it's the midpoint of sale prices. So basically what this means, is that the median sales price is showing market activity in that it's specifically indicating which price range is more active.   The average sales price, as opposed to the median sales price, is the total volume of sold properties divided by the number of pr... 09/21/2009

Lake Mary Homes are for sale, but buyers, especially first time home buyers cannot buy them. Why? Because investors are back in the market. The chosen method of payment for Lake Mary investors is Cash and in this market cash is KING. Many first time home buyers find themselves scrambling to take advantage of the $8000 first time home buyer tax credit, only to be meet with little inventory and heavy competition on those homes, generally beat out by an investor willing to pay cash for the home. Lowering the risk for most bank owned properties.   First Time Home Buyers are frustrated and with the scrabble comes the necessity to make multiple bids on different properties before one sticks. One client of mine had to submit 8 offers before we finally got her the house she wanted and won the d... 09/19/2009

1.     Counsels homeowner on the Short Sale process. 2.      Provides full marketing services. 3.      Works closely with homeowner on pricing strategy. 4.     Provides liaison and negotiation services with lender. 5.      Helps homeowner prepare Short Sale Package. 6.     Assists homeowner to compose Hardship Letter. 7.     Keeps homeowner informed every step of the way. 8.      If necessary, supports homeowner in obtaining extension of final foreclosure decision. 9.      Coordinates closing.     More Short Sale Success Quick Notes! 1 Important Reason Why Short Sales Aren’t Easy 2 Important Reasons to Consider a Short Sale 3 Criteria to Qualify for a Short Sale    5 Benefits of a Short Sale   4 Considerations for Your Lender to Approve the Short Sale    10 Steps to a Successful Short S... 09/17/2009