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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 Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
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   ------------------...
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
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...
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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 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...
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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. 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...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
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...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
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...
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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 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...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
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...
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By Judy Chapman
(Referral Network of Illinois LLC)
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...
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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. 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 WILLOWLAKE 08/24/09 $724,900 $515,000 5 3 35...
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By Rob Arnold, Metro Orlando Full Service - Investor Friendly & F
(Sand Dollar Realty Group, Inc.)
These are just a sampling of the latest short sale, bank owned REO, foreclosure deals, estate sales, and similar cheapo homes for sale that we have available in Central Florida / metro Orlando.  Submit your offer today before they are gone:      1. Lake Mary condo 2 bed/2 bath/1-car garage. 2nd floor unit. Notting Hill condo complex. Great condition. Bank owned foreclosure. $52,900. 2. Northwest Orlando home 3 bed/1 bath block home. Privately financed short sale.  Possible seller financing for well-qualified buyers. Move-in condition. $39,900. 3. Pine Hills house 3 bed/1 bath block home. Privately financed short sale. Possible seller financing for well-qualified buyers. Move-in condition. $39,900. 4. Altamonte Springs 3 bed/1 bath/1-car garage block home. Bank owned. Handyman special ne...
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  Selling your home in this market can be a challenge, but it is possible and can be profitable if you know The Secrets That Sell.  Capturing buyers interest is just one of the reasons that you should hire a REALTOR, they have the knowledge and experience to know what works and what doesn't. Quality PHOTOGRAPHY is a vital component of selling your Lake Mary home, or any selling any home for that matter. Did you know that over 85% of home buyers start their home search online?  No longer are buyers driving around neighborhoods hunting for the elusive "For Sale" signs.  They are on their computers, deciding what properties they want to see from the comfort of their own homes. How do you get them to your door?  Click here to read the rest of the article why A Picture is Worth A Thousand Wo...
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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 July 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 prop...
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By Judy Chapman
(Referral Network of Illinois LLC)
These smart homeowners didn’t give their bank the chance to foreclose on their house. Instead, they hired a real estate agent to market their houses on the My Florida Regional Multiple Listing Service (MLS). 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 Sale Price Beds Baths Sq Ft...
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By Judy Chapman
(Referral Network of Illinois LLC)
1. Lender requires homeowner to sign a promissory note. 2. Lender determines market value is higher than contracted price.   3. Buyer cannot obtain financing.   4. Buyer backs out of contract after home inspection.   5. Lender cautions that they may pursue a Deficiency Judgment  
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By Rob Arnold, Metro Orlando Full Service - Investor Friendly & F
(Sand Dollar Realty Group, Inc.)
Can I make changes to my Florida flat fee mls listing once it has been inputted into the MLS? Yes. We allow unlimited changes to your MLS listing during the first 14 days. After that we allow 1 change per week with a maximum of 20 changes during the life of the listing. We are quite liberal with allowing changes as long as we feel we are not being taken advantage of. All changes will need to be in writing and submitted on a Status Change Form. Can I use my own For Sale By Owner sign on my flat fee mls listing? We recommend that you use our company For Sale sign. Other Realtors often get confused or nervous about not getting paid their commission if they do not see the Listing Realtor's sign in the yard. If you do want to use your own sign, we recommend that you write the MLS # on the si...
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By Judy Chapman
(Referral Network of Illinois LLC)
To write a recent post Do You Have 10 Years to Wait Around for the Housing Recovery, I put on my analytical hat to illustrate the future for Orlando’s real estate market. Anyone reading the post or studying the accompanying graph — which showed that house prices in the Orlando area are not likely to recover to 2007 levels for 10 years or more — would have been either heartened or devastated.   For optimists, it showed a small light at the end of a dark dark tunnel.   For pessimists (or perhaps realists), only the dark tunnel existed.   In hindsight, I realize the post lacked the human factor.   People who purchased a house in the last 5 years are suffering in many ways — emotionally, financially, spiritually. The real estate market crash has consequences that go deep and strike at the c...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
Lake Mary Luxury Living in Magnolia Plantation one of the area's nicest gated communities, not to mention golf course communities. You know you are home when you enter the gates of Magnolia Plantation in Lake Mary, FL. This beautiful "Back to nature" setting of North Orlando is nestled up to the Wekiva River Basin and offers large quarter-acre to one-acre custom estate home sites. Some of the many custom builders found in this community are Brentwood Homes, Hillcrest Homes, Aruther Rutenberg Homes & Carmen Dominguez. Most all homes enjoy a wooded conservation or golf view.  A large nature park area equipped with playgrounds and picnic pavilions, 18 hole championship golf course and clubhouse are some of the many amenities available.  Magnolia Plantation is located in Lake Mary, FL which...
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By Judy Chapman
(Referral Network of Illinois LLC)
1. Homeowners cannot keep up with loan payments due to unemployment, job relocation, divorce, medical expenses, or other hardship circumstance. 2. Homeowners have no choice but to sell their house.   3. Homeowners cannot repay the loan in full given current market conditions.
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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 June 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 prop...
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