Home buyers experience bidding wars

Homebuyers are unexpectedly finding more competition this spring (2012) in securing their offer onf their home. The Wall Street Journal is reporting that price bidding wars are increasingly being reported in markets across the country, from California to Florida. This is true of Orlando real estate in Central Florida especially in certain neighborhoods like, Baldwin Park, Hunter's Creek, StoneyBrook, Avalon Park, Bay Hill/Dr .Phillips and...

Orlando Real Estate- What Sold last week

Orlando Real EstateOrlando Single-family homes sales Sales of single-family homes decreased to 260 during the week of Apr 1, from 472 the week prior The median price of single family homes decreased to $129,000, a change of -4.4% The number of single-family home foreclosure transactions decreased to 51 last week, from 113 the week of Mar 25 The number of single-family home short-sale transactions decreased to 72 from 136 the week prior Single-family...

Florida Real Estate- prices rise

CoreLogic released its February Home Price Index (HPI) report last week. Excluding distressed sales, month-over-month prices nationally increased 0.7 percent in February from January, but fell year-over-year by 0.8 percent if distressed sales are backed out of the equation and 2.0 percent if they’re included.In Florida, however, prices rose in February 2012 compared to February 2011 whether distressed sales were included or not. The CoreLogic HCI...

FHA relaxes new credit despute rule a little on new mortgages

The Federal Housing Administration (FHA) back relaxed some on a rule announced earlier. FHA says it will give borrowers a chance to explain any disputed collection accounts in their history in order to qualify for an FHA-backed mortgage.  Under FHA’s new rule, borrowers with any credit disputes greater than $1,000 on file will not be able to get the government-backed loan. As first announced, borrowers either have to pay the remaining balance...

2012 Big year for Foreclosures

Even as real estate sales are picking up across most of the country, many experts believe that a second act of the housing slump looks set to unfold. It is expected that many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.In 2011, the “robo-signing” scandal, in which foreclosure documents were signed without properly reviewing individual cases, prompted banks to hold back on new foreclosures...

Orlando Real Estate- On the market this week

Orlando Real Estate for Sale- Single-family existing homesSales of Orlando single-family homes increased to 472 during the week of Mar 25, from 315 the week prior The median price of single family homes increased to $135,000, a change of 11.6% The number of single-family home foreclosure transactions increased to 113 last week, from 63 the week of Mar 18 The number of single-family home short-sale transactions increased to 136 ...

Rates fall back down

The average U.S. mortgage rate on the 30-year fixed mortgage fell back below 4 percent this week, staying near historic lows.Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.99 percent from 4.08 percent last week. Last month, the rate touched 3.87 percent, the lowest since long-term mortgages began in the 195...