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Lake Mary, FL Real Estate News

By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
If you’re thinking about buying a home, chances are you’ve got mortgage rates on your mind. You’ve heard about how they impact how much you can afford in your monthly mortgage payment, and you want to make sure you’re factoring that in as you plan your move.The problem is, with all the headlines in the news about rates lately, it can be a bit overwhelming to sort through. Here’s a quick rundown of what you really need to know.The Latest on Mortgage RatesRates have been volatile – that means they’re bouncing around a bit. And, you may be wondering, why? The answer is complicated because rates are affected by so many factors.Things like what’s happening in the broader economy and the job market, the current inflation rate, decisions made by the Federal Reserve, and a whole lot more have a...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
New FHA guidelines were announced earlier this week. Over 30% of all new loans are FHA loans. One of the biggest rules I feel that will impact First Time Home Buyers is the reduction of seller contributions to buyers closing costs. Until recently a seller could give up to 6% the maximum amount of costs a buyer would every experience in closing costs.    Under the new rules which will begin in late Spring or Early Summer is reducing that amount from 6% to 3%. Meaning that as a first time home buyer you would not only have to come up with the 3.5% for your down payment but also another 2-3% in closing costs for a total of up to 6.5% of the purchase price. Ouch!   Because you decide to wait a few months to purchase a home or to see what the market does that waiting could cost you an additi...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
Ok so maybe the money isnt missing, but might be left making more money for the IRS if you missed any tax deductions. Don't leave it up to chance and do your own 1040. With all the new tax laws and incentives out there for people who have recently purchased a home or sold a home, it makes sense to consult a CPA. If you live in the Orlando or Lake Mary area call Gail Joubran, CPA. She has over 25+ Years of tax experience, estate planning and trust and worked for many years as an internal auditor. If you or your company is looking for a CPA (certified public accountant) or auditor make the call to 407-324-6181 the last number you call for all your tax needs. Realtors we are notorious for thinking we can deduct more then we can and I know a few agents who have found themselves audited. Sh...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
Seminole County's down payment assistance programs have always been more difficult then the other counties and more then it needs to be. They choose to go by a different drum. Orange county reaches out to their lenders and Realtors to ask advice when putting together their programs and probably why they go so smooth and help so many families and while unlike Seminole county still have SHIP funds.   I have a client that I have been working with trying to get her all the information and in touch with the right people so we can ensure she can afford a home and receives any down payment assistance that's available. I have worked with Seminole county many times and even just sold the first Orange county NSP home. I know how down payment assistance works. I was shocked with I called to get m...
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By Road House Realty
(Road House Realty)
Magnolia Plantation Real Estate is an upscale, guard-gated, golf community located is gorgeous Lake Mary, Florida. The magnificent homes in Magnolia Plantation have considered every architectural detail, and the end result is beautifully-designed homes in an outstanding neighborhood. Magnolia Plantation offers the best in amenities, with their championship golf course weaving in and out of the community's 23 ponds and five acre park, the neighborhood features tennis and basketball courts, a soccer field and a community pool. The prestigious Magnolia Plantation Golf Club has been voted by Golf Digest as one the best places to play. This is as close as you can get to nature, while maintaining your active Florida lifestyle. The schools zoned for Magnolia Plantation are Lake Mary Elementar...
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By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
The following are the market sales statistics for Lake Mary, Seminole County, Florida for December 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...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
Lake Mary Bank Owned Condo for sale for less then most people's car!!! Looking to own a piece of Lake Mary Real Estate instead of renting? If you are a first time home buyer or maybe looking to add to your rental investment portfolio either way this is the perfect reo property.   Purchase this Bank Owned Condo for $32,000 1 Bedroom 1 Bathroom All appliances Lake Front Building Gated Community 2 Pools Fitness Center All Lake Mary Schools Contact me today for your private tour of this LAke Mary Bank Owned Property!
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By Road House Realty
(Road House Realty)
Timacuan Real Estate is a delightful golf community located in quiet and serene Lake Mary, Florida. Timacuan encompasses nine different neighborhoods, each with its own distinctive personality, so there is a right fit for everyone. The separate communities include: Clubhouse Cove, Eagle Run, Hopewell Creek, Hunters Ridge, Lake Dawson, Signature Cove, Stratton Hill and Summerlin. 550 of these dazzling homes have incredible water and golf views. The community also accommodates the Timacuan Golf and Country Club, ranked 14th best golf club in the state. Here you will find the delicious Timacuan Bar & Grill, an expertly-appointed pro shop and brilliant practice facilities. Lake Dawson and Lake Crystal are nearby, so you indulge is water sports, boating or fishing. The lakes are the ideal d...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
Looking to purchase a new home in Lake Mary, FL? I have worked with a local builder to bring you the best deals around. There are only two units left at this amazing price. These new construction townhomes are located in Lake Mary just steps from the Colonial Town Plaza, movies and some of the best restaurants in the area. Plus just steps from the tech corridor. So what does this Lake Mary New Construction Townhome have to offer?  For just $1380/mo for less then most pay in rent you can all have this! Brand new construction built 2009 1540 sq ft *2 Stories *3 Bedrooms *2.5 Baths  PLUS 2 CAR GARAGE & COURTYARD*Include many Distinctive Interior Features *42 Inch Kitchen Cabinets with Crown Molding *Cultured Marble Countertops in Bathrooms *Crown Molding in Foyer, Kitchen, Living & Dining ...
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. In its press release, the FOMC noted that the U.S. economy "has continued to pick up", that the jobs markets is getting better, and that housing market has shown "some signs of improvement" lately. It's the fourth straight statement in which the Fed speaks optimistically about the U.S. economy -- a signal that the worst of the recession is likely behind us. The economy isn't without threats, however, and the Fed identified several, including:..... Read the COMPLETE BLOG POST HERE: A Simple Explanation Of The Federal Reserve Statement (December 16, 2009 Edition)   ----------------------------------------------   Chris is Florida's #1 FHA Mortgage Broker and a syndicated mor...
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By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
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...
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
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...
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By Judy Chapman
(Referral Network of Illinois LLC)
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...
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
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, ...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
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 ...
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
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-...
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By Judy Chapman
(Referral Network of Illinois LLC)
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...
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By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
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...
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By Judy Chapman
(Referral Network of Illinois LLC)
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...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
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. 
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
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...
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