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Sanford, FL Real Estate News

By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Over the past year or so, a lot of people have been talking about how tough it is to buy a home. And while there’s no arguing affordability is still tight, there are signs it’s starting to get a bit better and may improve even more throughout the year. Elijah de la Campa, Senior Economist at Redfin, says:“We’re slowly climbing our way out of an affordability hole, but we have a long way to go. Rates have come down from their peak and are expected to fall again by the end of the year, which should make homebuying a little more affordable and incentivize buyers to come off the sidelines.”Here’s a look at the latest data for the three biggest factors that affect home affordability: mortgage rates, home prices, and wages.1. Mortgage RatesMortgage rates have been volatile this year – bouncin...
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
  One day after November's Existing Home Sales report blew away estimates, the Census Bureau's related New Homes Sales report failed to impress. A "new home" is a home that is newly-constructed; not bought as a resale. In a lackluster showing, New Home Sales dropped 11 percent in November, falling to the lowest levels since April. Furthermore, the all-important "months of supply" climbed by a half-month to 7.9. The press pounced on the figures and if you only read the headlines, you'd think that housing had cratered.  Some of the angles were quite bold, even: Weak U.S. Home Sales Show Recovery's Shakiness (Reuters) New Home Sales Plunge In November (CNNMoney.com) Housing Forecast : Off Life Support, Still In Critical Care (CBS News) These headlines, although technically accurate, only t...
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By Road House Realty
(Road House Realty)
Retreat at Wekiva Real Estate is a Gated community located in tranquil Sanford, Florida. The neighborhood's peaceful ponds and lavish landscaping perfectly accent the beautiful homes that weave all around the tree-lines streets. You can enjoy the neighborhood's playground and beautiful park, go jogging on the trails or enjoy the gorgeous water views. If you want to explore the city of Sanford, there are award-winning restaurants and upscale shopping in close proximity of the community. With access to all major roads, Retreat at Wekiva is in an ideal location. The schools zoned for Retreat at Wekiva are Wilson Elementary School, Markham Woods Middle School, and Seminole High School. Retreat at Wekiva is conveniently located off Orange Blvd. and Stargazer Terrace, 5 minutes from the inte...
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By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
The following are the market sales statistics for Sanford, Seminole County, Florida for November 2009.  Sanford is made up of the zip codes of 32773 & 32771.  For purposes of this analysis we are only 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 num...
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By Judy Chapman
(Referral Network of Illinois LLC)
These statistics for Sanford FL 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 MAPLE GLEN 11/12/09 $1,499,000 $1,150,000 4 4 4755 Y WHOOPING CRANE 11/23/09 $1,199,900 $870,000 4 4 5023 Y BELLA FORESTA 11/13/09 $999,900 $758,550 5 5 4878 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 much as 2 years to unload. Keep in 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)
The average family spends $2,200 per year in electric bills and the average home is responsible for twice the amount of greenhouse gases than the average automobile. Whether you want to save money or save the environment, this 5-minute piece from the NBC Today Show is for you. In it, you'll learn that just by being aware of your energy consumption, you can reduce it by up to 15 percent. The piece centers on a device called a Power Monitor which retails from $30 to $100, depending on the model. It measures the actual cost of using an appliance, or using a light, or charging a laptop, or any other household energy use. Among the cost findings:........... Read the COMPLETE BLOG POST HERE: How To Trim Your Utility Bills Without Inconveniencing Yourself   ------------------------------------...
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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 many American homeowners, interest paid on a mortgage is tax-deductible in the year in which it was paid. Knowing that, eligible homeowners can increase their 2009 tax deductions just by making their January 2010 mortgage payment before the end of the year. By paying in 2009, the mortgage interest paid can be applied against 2009's itemized tax deductions even though the payment isn't technically due until 2010. It can reduce........ Read the COMPLETE BLOG POST HERE: How To Increase Your 2009 Mortgage Interest Tax Deduction   -------------------------------------------   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 N...
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
When a home seller accepts a contract on an MLS-listed property, the property's status changes from "Active" to "Pending". This means the home is scheduled to sell, but not yet sold. Each month, the National Association of Realtors® tallies the number of pending homes and publishes the data as the Pending Homes Sales Index report. In October, for the 9th straight month, the index gained. It's the longest such streak in Pending Home Sales history. Because a "pending" home sale is just a contract between buyer and seller, it's not as important to the economy as actual home sales.  However, the Pending Home Sales Index can be a fine predictor of future activity. Historically, 80 percent of...... Read the COMPLETE BLOG POST HERE: Pending Home Sales Data Forecasts Higher Home Values Next Mon...
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By Road House Realty
(Road House Realty)
Buckingham Estates is an upscale, guard-gated community located in serene Sanford, Florida. The luxury, single-family homes are all magnificently designed and have stunning architecture and beautiful, custom interiors. Each house has stunning landscaping with several palm trees in every front yard and rosy, vivacious blooms and hedges that bring life to the homes. The spotless, sparkling subdivision streets wind in and around the brick-paved driveways. The neighborhood features an excellent community pool, a children's play area and a clubhouse that can be used for special gatherings, meetings, and get-togethers. The schools zoned for Buckingham Estates are Bentley Elementary School, Sanford Middle School, and Seminole High School. Buckingham Estates is conveniently located off Markham...
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By Judy Chapman
(Referral Network of Illinois LLC)
Don’t lose your home to foreclosure. These smart homeowners didn’t. Instead, they put their home on the market as a Short Sale. Street Date Sold Original List Price Sold Price Beds Baths Sq Ft Pool Rock Rose 10/02/09 $200,000 $180,000 3 2 1955 N Kays Landing 10/15/09 $250,000 $240,000 4 3 2623 N Bassett 10/26/09 $550,000 $430,000 5 4 3990 Y Satin Leaf 10/23/09 $755,500 $556,500 5 3 3468 Y Markham Bend 10/26/09 $1,497,000 $955,000 5 5 5300 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 ...
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
Another month, another piece of evidence that the housing market is in recovery. Existing Home Sales surged in October as the nation's homebuyers took advantage of low mortgage rates, low list prices, and, for some, a generous tax credit. Home resales are 23 percent higher versus a year ago and home supply is down to 7 months nationwide. Inventory hasn't been this low since February 2007. The news shouldn't be surprising, however.  The same real estate trade group that produces the Existing Home Sales report also publishes a monthly report meant to predict future home sales called the Pending Home Sales Index. Pending Home Sales have been throug...... Read the COMPLETE BLOG POST HERE: Existing Home Sales Blow Past Expectations   ---------------------------------------------------   Chri...
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
APR is an acronym for Annual Percentage Rate.  It's a government-mandated calculation meant to simplify the comparison of mortgage options. A loan's APR can always be found in the top-left corner of the Federal Truth-In-Lending Disclosure. Because APR is expressed as a percentage, many people confuse it for the loan's interest rate.  It's not.  APR represents the total cost of borrowing over the life of a loan.  "Interest rate" is the basis for monthly mortgage repayments. The main advantage of APR is that........ Read the COMPLETE BLOG POST HERE: Simple Real Estate Definitions : APR   --------------------------------------------------   Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts includ...
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By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
The following are the market sales statistics for Sanford, Seminole County, Florida for October 2009.  Sanford is made up of the zip codes of 32773 & 32771.  For purposes of this analysis we are only 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 nu...
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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 MARKHAM BEND 10/26/09 $1,497,000 $955,000 5 5 5300 Y FAWN HILL 10/26/09 $1,099,900 $720,000 4 3 4468 Y SATIN LEAF 10/23/09 $755,500 $556,500 5 3 3468 Y VISTA CLUB 10/30/09 $749,000 $650,000 4 3 3756 Y BASSETT 10/26/09 $550,000 $430,000 5 4 3990 Y CARDINAL POINTE 10/22/09 $549,900 $455,000 4 4 3545 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 below $500,000...
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
Despite the economy's improvement and prodding from Congress, banks don't seem ready to open their purse strings just yet. Nationally, mortgage approval standards are tightening. The data comes from a quarterly survey the Federal Reserve sends to its member banks.  The Fed asks senior bank loan officers around the country whether "prime" residential mortgage guidelines had tightened in the last 3 months. For the period July-September 2009: Roughly 1 in 4 banks said guidelines tightened Roughly 3 in 4 banks said guidelines were "basically unchanged" Just one bank said its guidelines had loosened. Combine the Fed's survey with recent underwriting updates from the FHA and from Fannie Mae and it becomes clear that mortgage lenders are much more cautious about their loans than they were, say...
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By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
The following are the market sales statistics for Sanford, Seminole County, Florida for September 2009.  Sanford is made up of the zip codes of 32773 & 32771.  For purposes of this analysis we are only 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 ...
Comments 0
By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
The following are the market sales statistics for Seminole County, Florida for August 2009.  For purposes of this analysis we are only 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 properties sold.   The sales to list price ratio is just ...
Comments 0
By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
The following are the market sales statistics for Sanford, Seminole County, Florida for August 2009.  Sanford is made up of the zip codes of 32773 & 32771.  For purposes of this analysis we are only 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 num...
Comments 0
By Judy Chapman
(Referral Network of Illinois LLC)
These smart homeowners didn’t have to lose their houses 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 BELGIAN 08/31/09 $259,900 $145,000 4 2 1955...
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By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
The following are the market sales statistics for Seminole County, Florida for July 2009.  For purposes of this analysis we are only 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 properties sold.   The sales to list price ratio is just th...
Comments 0
By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
The following are the market sales statistics for Sanford, Seminole County, Florida for July 2009.  Sanford is made up of the zip codes of 32773 & 32771.  For purposes of this analysis we are only 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 numbe...
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