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...

New Mortgage Rule- affects home buyers with credit disputes

The Federal Housing Administration (FHA) will soon change the way it considers ongoing credit disputes – such as collection agency claims in a buyer’s credit score – when approving FHA mortgage applications. The change does not impact any debt the homebuyer still owes – only debts in dispute.Under the new guidelines, however, no FHA loan will be approved for any dispute over $1,000. Amounts less than $1,000 shouldn’t impact loan approval unless it...

Florida tops in late home loans

Florida has more federally backed home loans that have gone unpaid for a year or longer than the total number of late loans in every state except California.   A report by the Federal Housing Finance Agency found that about 166,000 Florida mortgages backed by Fannie Mae or Freddie Mac were in arrears on payments for a year or more.Fannie Mae has about 1.2 million loans in Florida, while Freddie Mac has about 750,000. During 2010 and 2011,...

Orlando Real Estate sales - Week of March 18, 2012

Orlando Single-family existing homesOrlando Real Estate Sales of single-family homes increased to 315 during the week of Mar 18, from 309 the week prior The median price of single family homes decreased to $121,000, a change of -6.9% The number of single-family home foreclosure transactions increased to 63 last week, from 59 the week of Mar 11 The number of single-family home short-sale transactions increased to 103 from 100 the week prior Orlando...

Job market get stronger

The number of Americans seeking unemployment aid fell to a four-year low last week, bolstering the view that the job market is strengthening.The Labor Department said Thursday that weekly applications dropped 5,000 to a seasonally adjusted 348,000. That’s the lowest level since March 2008, just months into the Great Recession. The four-week average of applications, a less volatile measure, dipped to 355,000, matching a four-year low. M...

Mortgage rates jump--buyers to follow suit?

The average U.S. rate on a 30-year fixed mortgage rose above 4 percent for the first time in five months. The sharp increase suggests the window to buy or refinance a home at historically low rates may be closing. Freddie Mac announced on Thursday that the rate on the 30-year loan jumped to 4.08 percent, up from 3.92 percent the previous week.  It was just a month ago that it touched 3.87 percent, the lowest since long-term mortgages began in...

Sanford rallies for Trayvon Martin

Sanford, Florida.  Thousands of protesters are attending a rally led by civil rights activist Al Sharpton for  shooting death of  17-year-old Trayvon Martin in Sanford.Martin's parents, Tracy Martin and Sybrina Fulton, believe the shooter, 28-year-old George Zimmerman, should have been arrested. They claim Zimmerman was profiling their son and acted like a vigilante. many see this as a hate crime.Zimmerman has claimed self-defense,...

Florida real estate- median prices rises and pending sales increase

Florida pending home sales and median prices rose, while the inventory of homes for sale dropped in February, according to the latest housing data released by Florida Realtors. Pending sales refer to contracts that are signed but not yet completed or closed; closed sales typically occur 30 to 90 days after sales contracts are written-although short sales can take much longer. The statewide median sales price for single-family existing homes in February...

U.S. builders start fewer homes but permits jump

U.S. builders  have requested the most building permits in any month since October 2008.Building permits, a gauge of future construction, jumped 5.1 percent last month to 717,000. Two-thirds are for single-family homes, which are critical to a housing recovery.  It can take up to 12 months for a builder to obtain a permit and construct a single-family home. Read more here on real estate and building perm...

Orlando Real Estate Sales for the week March 11-17

Orlando home SalesSales of single-family homes increased to 309 during the week of Mar 11, from 259 the week prior The median price of single family homes decreased to $130,000, a change of -3.7% The number of single-family home foreclosure transactions increased to 59 last week, from 36 the week of Mar 4 The number of single-family home short-sale transactions increased to 100 from 87 the week prior Single-family inventory decreased by 98, and...

Orlando Condos and Townhomes

Condos and Town Homes/Duplexes/VillasThe sales of condos in the Orlando area decreased by 34.27 percent in February when compared to February of 2011 (326 to 496)).The most (116) condos in a single price category that changed hands in February were yet again in the $1 - $50,000 price range and account for 35.58 percent of all condo sales.Orlando homebuyers purchased 173 duplexes, town homes, and villas in February 2012, which is a 27.31 percent...

Orlando Real Estate- March Inventory

Inventory of Orlando Area Homes for Sale*There are currently 9,253 Orlando homes available for purchase through the MLS. The February 2012 overall home inventory level is 31.36 percent lower than it was in February 2011, and almost equal to what it was in January 2012.*Single-family home inventory is down 32.68 percent; condo inventory is down 18.46 percent.*The current pace of Orlando real estate sales translates into 4.99 months of...

Orlando Real Estate-Median Price increases

Median Price for Homes sold in ORLANDO*The median price of all existing Orlando area homes combined sold in January 2012, $108,000, is a 13.80 percent increase from the $94,900 median price recorded in January 2011.*The median price for "normal” existing homes sold in February is $150,000, is a decrease of 3.23 percent from the median price of "normal” existing homes in February 2011.*The median price for short sales increased by 5.26 percent...

Orlando Real Estate- Homes inventory down 31 percent

Orlando real estateHomes inventory down 31 percent; median home price bounds 16 percent The number of existing homes available for purchase in Orlando is continuing a steady decline that began in back in July 2010 at 16,563 and now rests at 9,253. In February 2012, total inventory was 31.36 percent less than it was in February 2011. *Orlando home sales (all home types combined) in February 2012 were down 15.19 percent over...

New real estate tax for 2013?

According to the National Association of Realtors® (NAR), there is a new real estate tax effective in 2013, but it will affect very few sellers – only people with a high annual income who turn a sizable profit on their home sale.A 3.8 percent levy on certain investment income was included in healthcare legislation two years ago. Part of that investment income includes capital gains from home sales for individuals who make $200,000 per year or more,...

Orlando Real Estate Weekly Market Report

Orlando Real Estate Report Week of March 4, 2012Orlando Single-family existing homesSales of Orlando single-family homes decreased to 259 during the week of Mar 4, from 458 the week prior The median price of Orlando  single family homes decreased to $135,000, a change of -3.6% The number of single-family home foreclosure transactions decreased to 36 last week, from 88 the week of Feb 26 The number of single-family home short-sale transactions...

Mennello Museum of American Art-Family Day Free Admission

Sun, March 11, 12am – Mon, March 12, 12amRepeat: A repeated event cannot start and end in different time zonesMonthly on the second SundayEditThis event has a recurrence rule that cannot be edited in Google Calendar WhereMennello Museum of American ArtmapVideo chatCalendarmennellomuseum@gmail.comDescriptionEvery second Sunday, Family Day arts and craft activities begin at 12:30PM, a children's workshop at 1PM, followed by a guided tour at 2:00PM....

Orlando Restaurants with free entertainment

Restaurants with Free Entertainment on Saturdays*Bauern-Stube ~ German Music*Cafe Tu Tu Tango ~ Belly Dancers*Ceviche Tapas Bar & Restaurant ~ Flamenco *Fiddler's Green Irish Pub & Eatery ~ Traditional Irish, Blues & Rock*Hamburger Mary's ~ Cabaret Dinner Show*House of Blues ~ Blues Kitchen*Mama Della's Ristorante ~ Strolling Musicians*Raglin Road ~ Irish Dance Shows*Taverna Opa ~ Belly Dancing & Zorba Dancers *Vines Grille...

Homeowner's tax deductions

Many tax breaks accompany homeownership, and noting each can add thousands of dollars to an IRS tax refund.Talk  with your local, knowledgeable tax preparer can help ensure you take advantage of all the home ownership-related credits and deductions for which may be eligible.Mark Steber, chief tax officer for Jackson Hewitt Tax Service Inc., notes several tax breaks available covering home-related areas:     • Mortgage Interest....

Florida home prices up in Jan. 2012--Corelogic reports.

CoreLogic released its January Home Price Index (HPI) report today and nationally, home prices, including distressed sales, declined in January 2012 by 3.1 percent year-over-year. Home prices declined by 1.0 percent month-to-month – its sixth consecutive monthly decline.Florida home sales, on the other hand, increased by 1.8 percent year-over-year. Florida was  one of only 18 states to see a price boost in home sales.Excluding distressed home...

Orlando real estate- drop in foreclosures, short sales are up

 Orlando Real Estate- Drop in   Orlando foreclosures lifts overall median price up, but pulls overall sales numbers down. A sharp decline in the sales of Orlando foreclosure homes contributed to a drop of 17.83 percent in Orlando's overall sales for January 2012, despite increases in the number of both short sales and normal sales. Foreclosure sales in January decreased by 57.61 percent when compared to January...

Olrando Real Estate- Weekly Report

Week of February 26, 2012Orlando Single-family existing homes salesSales of single-family homes increased to 458 during the week of Feb 26, from 239 the week priorThe median price of single family homes increased to $140,000, a change of 12.0%The number of single-family home foreclosure transactions increased to 88 last week, from 55 the week of Feb 19The number of single-family home short-sale transactions increased to 140 from 76 the week priorSingle-family...

Florida House passes six industry bills that impact real estate

This week, the Florida House approved six bills that impact florida real estate in some form or other:Septic tank inspectionsThe 2010 law requiring septic tank inspections moved closer to being repealed after a House vote this week. Under HB 999 by Rep. Chris Dorworth (R-Heathrow), local governments will have the option whether or not to enact an evaluation program. Homeowners across the state will be protected from extensive regulations and the...

Leu Gardens Storytime presented by Nemour's Bright Start

Storytime at Leu Gardens Presented by Nemours BrightStart!Monday, March 5Orange County Library System's storytelling program comes to Leu Gardens the first Monday of each month, excluding holidays. Share stories and songs with your little one. This is a free indoor event.10:00 am - 10:15 am Infant Time (up to 18 months)10:20 am - 10:35 am Toddler Time (18 months to 2 year olds)10:40 am - 11:00...

Out and About Orlando on a Saturday night

Winter Park Playhouse - The Andrews Brothers $28/$38 ~ 2pm & 7:30pm.The Mad Cow Theater - Dancing at Lughnasa $32 7:30pm.The Mad Cow Theater - Hedda Gabler $27 ~ 8pm.SAK Comedy Lab - Duel of Fools ~ 7:30pm & 9:30pm $15/$12 FL Resident.Improv Comedy Club ~ 7:30pm & 10:15pmTreasure Tavern - Dinner & Show $60.65 ~ 8...

Warren Buffet-sees real estate as better than stocks

Billionaire investor, Warren Buffett, said on CNBC’s Squawk Box recently that he’d buy up a couple hundred thousand single-family homes if it was practical.Buffett s believes purchasing a home with ultra-low mortgage rates and holding it for the long-term has become a better investment than stocks right now.Buffett forecasted an increase in household formations, as more people who moved in with their parents or family members during the recession...

Rental demand grows, rents grow higher and renter incentives disappear

As rental demand continues to rise, rents are inching up higher and renter incentives are disappearing. Across the country, as more people compete for apartments in the wake of the housing collapse, the market has swung in favor of landlords. For tenants, that means saying goodbye to move-in incentives and watching rents edge higher.About a quarter of all apartments nationwide offered some type of concession in last year’s fourth quarter. By comparison,...