Posted by: Wallace Lamoureux Real Estate Group of Central Florida @ Keller Williams | August 16, 2012

My Florida Good Life Has Moved !

My Florida Good Life Blog Has Moved…yep..as they say in that great TV show the Jeffersons…..’We’re movin on up!”

We have a new location for our blog which is at http://www.floridagoodlifeteam.com  it’s bigger…..better..AND…we have added local secret spots and reviews, video and more.

 think about taking a little sneak peak over to our NEW…FANTASTIC…and SO MUCH MORE AMAZING blog!

VISIT OUR NEW SITE AT:

 http://FLORIDAGOODLIFETEAM.com

Advertisements
Posted by: Wallace Lamoureux Real Estate Group of Central Florida @ Keller Williams | August 3, 2012

TRADITIONAL SALES REPRESENT 42.6% OF THE HOMES SOLD THIS YEAR

Is that a surprise?  It was to me.  I thought I would do a little research this morning and not only discovered that traditional sales represent the majority of the homes sold since January 1st of this year but that bank-owned, or REO’s, represent only 25.7%.  Short Sales are about a third of the sales with 31.7% of the total of 13,660 residential properties sold and closed in Orange and Osceola Counties combined year-to-date.

Another interesting statistic is the percentage of asking to selling price.  It is difficult sometimes for buyers to comprehend offering more than asking.  But in the case of an REO, where they are typically priced below market in order to solicit multiple bids, it is necessary and statistics prove it.  REO’s are selling on average for 101% of their asking.  Short Sales are selling for 97% and traditional sales for 95% of asking.

The days required to sell and close are interesting as well.  REO’s sell in an average of 44 days and close in 87.  Short Sales sell in an average of 4 months and close in an average of 8 months and traditional sales sell in an average of 79 days and close in 117.

What do these statistics tell us?  Your best course of action still is and always has been the same – do some research, determine your offer price based on researching comparable sales and be ready, willing and able to close.  In the case of purchasing a short sale, patience is a virtue.  Although they are taking much less time than they used to, they still take time to process.

Posted by: Wallace Lamoureux Real Estate Group of Central Florida @ Keller Williams | July 28, 2012

10 Great Reasons To Buy A Home In Central Florida TODAY!

With low interest rates, and low home pricing…for now at least.  It’s a fantastic time to purchase a home.  If you are paying rent here in Central Florida, you can absolutely afford a home. 

Image

10 Great Reasons To Buy A Home In Central Florida

  1. Quality of life – a home provides stability and security for you and your loved ones, and membership within a community of neighbors.
  2. Pride of home ownership – a home is a personal haven, a place that you can decorate, shape, and share over time because it’s yours.
  3. Excellent affordability – lower home prices combined with low interest rates means there are tremendous opportunities for buyers.
  4. Historically low interest rates – around 5 percent in the U.S. gives better purchasing power to those who qualify.
  5. Appreciation potential – your home investment can grow in value.
  6. Equity buildup and debt pay down – homeowners enjoy an average net worth of approximately $184,000 vs. $4,000 for renters.
  7. Leverage – where else can you buy an investment of this magnitude with 5-10 percent down?
  8. Tax deduction advantages – property tax and mortgage interest write-offs (in Canada, home owners gain a tax benefit upon selling).
  9. Tax exemption – up to $500,000 per married couple or $250,000 per person on sale of a primary residence in the United States (no tax upon sale in Canada).
  10. The real cost of renting – at $800 per month, with the average
    6 % increase per year, you will pay $126,536 over a 10-year period but have zero ownership of the property.

This information courtesy of My Florida Good Life Team, A Dynamic Keller Williams Real Estate Team.  Riva Wallace, Realtor, Listing Specialist. Cassie Lamoureux, Realtor, Buying Specialist. 407-929-2533 Contact Us For Details!    Also visit our website at http://www.MyFloridaGoodLife.com to search homes.

Posted by: Wallace Lamoureux Real Estate Group of Central Florida @ Keller Williams | July 11, 2012

Fannie Mae’s National Survey Results Show Positive Outlook On Housing Market

Image

WASHINGTON – July 10, 2012 – Housing market confidence among Americans continues to trend in a positive direction despite stalling optimism about the economy and personal finances, according to results from Fannie Mae’s June 2012 National Housing Survey.
Flatter economic trends may contribute to waning consumer expectations about personal finances. Nevertheless, Americans’ continued positive outlook about housing appears to remain buoyed by low house prices and interest rates at historically low levels.
“While consumers remain cautious about the general economy, their attitudes toward the housing market continue to improve,” said Doug Duncan, senior vice president and chief economist of Fannie Mae. “Although this positive trend may be short-lived if the general economy falters, one might ask whether consumers are increasingly seeing the current environment as a unique opportunity to buy a home while home prices remain depressed, rental costs are increasing, and interest rates are near historic lows.”
Respondents expect home prices to increase 2 percent in the next year, on average, and 35 percent of Americans say that home prices will go up in the next twelve months (the highest level recorded since the survey began in June 2010). In turn, the share of consumers who say they would buy if they were going to move increased by 6 percentage points this month (the highest level seen in the survey’s two-year history).
At the same time, 36 percent of Americans think the economy is on the right track (down 2 percentage points since May) and 57 percent think the economy is on the wrong track (up 1 percentage point). The percentage of respondents who expect their financial situation to remain the same over the next year dropped by 4 percentage points from last month to 42 percent, while only 18 percent say their household income has improved (also down 4 percentage points).
Highlights: Homeownership and renting
• Average home price expectation hit 2.0 percent this month, a 0.6 percent increase from May and the highest value recorded since the survey began in June 2010.
• Thirty-five percent of respondents say that home prices will go up in the next 12 months, the highest level recorded since the survey’s inception.
• Thirty-seven percent of those surveyed think mortgage rates will go up in the next 12 months, a 4 percentage point decrease from last month.
• The percentage who say it is a good time to buy increased slightly to 73 percent, matching the highest level recorded since the survey began two years ago, while the percentage who think it is a good time to sell remained at 15 percent.
• On average, respondents expect home rental prices to increase by 4.0 percent over the next 12 months, generally steady since May.
• Forty-eight percent of respondents think that home rental prices will go up in the next 12 months, while 5 percent think they will go down.
• Sixty-nine percent of respondents said that they would buy if they were going to move, a 6 percentage point increase from last month and the highest level recorded since the survey’s inception.
• The percentage of respondents who would rent decreased from 32 percent to 27 percent, the lowest number to date.
Highlights: The economy and household finances
• The upward trend of confidence that the economy is on the right track stalled this month, leveling at 36 percent.
• The percentage of respondents who expect their personal financial situation to stay the same over the next 12 months decreased by 4 percentage points to 42 percent, while those who expect their situation to get better steadied at 43 percent.
• Eighteen percent of respondents say their household income is significantly higher than it was 12 months ago, a 4 percentage point decrease and the lowest value seen since November 2011.
• Household expenses remained stable this month, with 55 percent reporting that their expenses stayed about the same as they were 12 months ago.    © 2012 Florida Realtors®

compliments of The My Florida Good Life Team, a Dynamic Keller Williams Real Estate Team!  Serving All of Central Florida.   visit our website www.MyFloridaGoodlife.com  And choose to Follow us for national, local, Real Estate and Home Related News.

Posted by: Wallace Lamoureux Real Estate Group of Central Florida @ Keller Williams | June 30, 2012

Home Buyers Empower Yourself With Some Tips To Help PREVENT Buyers Remorse!

Did I buy the right house? I wonder if I paid too much? Will I be able to afford the payments? What if I don’t like the neighbors? If you just entered into a contract to buy a home and you’re plagued with these thoughts, don’t panic. You have a case of buyer’s remorse.

Most home buyers experience buyer’s remorse at some time during their home purchase transaction. Buyer’s remorse is an emotional response to the home-buying experience that often triggers feelings of anxiety, regret, or depression.

Buyer’s remorse usually surfaces soon after you enter into a purchase agreement with the seller. But it can occur earlier, perhaps when you see a house you want to buy and you start talking yourself out of making an offer.

Home buying is stressful. It’s also a big commitment. The fear of making a commitment, coupled with fear of the unknown, can give rise to feelings of uncertainty. This is a natural response, which, in most cases, will pass.

First-time tip: Don’t assign more significance to feelings of buyer’s remorse than is warranted. For example, just because you’re questioning your decision doesn’t mean that you should back out of the deal. In fact, there could be severe consequences if you back out of a purchase agreement just because you’ve had a change of heart.

The best way to cope with buyer’s remorse and diminish its destructiveness is to stay well informed throughout the home-buying process. Meet with a lender or mortgage broker and get pre-approved for the financing you’ll need to complete the purchase. Some buyers can qualify for larger mortgage payments than they feel comfortable paying.

Educate yourself about current market values in the area where you want to live.  Ask your agent to let you know the selling prices of houses you see. If you are concerned about the value of a house you’re making an offer on, include a contingency in the purchase contract for the property to appraise for the purchase price. Ask your agent to complete a comparative market analysis for you.

Have the property thoroughly inspected. It’s a good idea to attend the home inspection. This gives you an opportunity to ask questions. It also helps to put the inspection findings in perspective if you’re able to discuss issues directly with the inspector while you’re at the property.

Let your agent know that you want to be kept well informed throughout the transaction. The more you understand the process, the more in control you will feel.

Strong communication is key and  we stay in communication with our clients through the entire home buying and selling process.  If you are interested in purchasing a home, or investment property; or selling your current home call The My Florida Good Life Team,  A Dynamic Keller Williams Real Estate Team! 407-929.2533  or visit our site to search for your next dream home www.MyFloridaGoodLife.com

First 9 paragraphs by Dian Hymer, Inman News Features-Orlando Sentinel

Posted by: Wallace Lamoureux Real Estate Group of Central Florida @ Keller Williams | June 26, 2012

Get Prepared Before You Start The Home Buying Process

Get Prepared Before You Start The Home Buying Process.

Posted by: Wallace Lamoureux Real Estate Group of Central Florida @ Keller Williams | May 7, 2012

Is Housing As Affordable As It Will Ever Get?

 

WASHINGTON – May 4, 2012 – Homebuyers who want a bargain may want to act now because the housing market is in the midst of a turnaround, economists say.

Home prices have fallen and mortgage rates are hovering near record lows, pushing home affordability for the average family to record highs. Meanwhile, rents have been on the rise, making owning a home cheaper than renting in most areas of the country, according to recent surveys.

But the housing deals aren’t expected to stick around much longer.

An improving job market, a decrease in the number of homeowners falling behind on their mortgage, and an anticipated improvement in access to mortgages is expected to help home prices start bouncing back by next year, economists say.

Investors eyeing profits in rentals also have been snapping up bank-owned properties, which Clear Capital’s Alex Villacorte attributes as helping to lead to an increase in prices on foreclosed properties. This “could have a significant impact on the market overall in terms of providing a rising floor to home values,” Villacorte told CNNMoney.

Some areas are already seeing prices rise. In Phoenix, housing prices have already increased 8.4 percent during the three months ending April 30, and Miami saw prices bump up 4.6 percent quarter over quarter, according to Clear Capital data.

“Stuff I was selling six months ago for $60,000 to $80,000 is now $90,000 to $110,000,” Tanya Marchiol, founder of Team Investments in Phoenix, told CNNMoney.

Loan rates, demand predictions

Buyers may want to act more quickly because mortgage rates are expected to tick up slightly by the end of the year. The increase is being sparked by greater demand, says Doug Lebda, CEO of LendingTree. He predicts 30-year fixed-rate mortgages will inch up to 4.5 percent by the end of the year, which is still low, however, by historical standards.

The Mortgage Bankers Association is also predicting a big leap in mortgage loans next year. For this year, MBA estimates that buyers will take out loans totaling about $415 billion, but by 2013 that number is expected to nearly double to $706 billion.

Source: “Buying a Home Won’t get Much Cheaper,” CNNMoney (May 3, 2012) and “Time To Trade The Lease For A Mortgage?” NPR (May 1, 2012)

© Copyright 2012 INFORMATION, INC. Bethesda, MD (301) 215-4688

Compliments Of My Florida Good Life Team, Keller William At The Lakes 407-929-2533

Posted by: Wallace Lamoureux Real Estate Group of Central Florida @ Keller Williams | May 2, 2012

Bidding Wars Catch Buyers Off Guard Could This Be A Turn Around In The Market?

 

Well, you know folks, the real estate market is ever-changing, and this is the reason why we keep up with the trends.  Here is a surprising trend that is starting to emerge across the nation.  Although some parts of Central Florida have remained stable, other areas have seen this kind of bidding war among buyers.  Bidding wars? in Central Florida?  could this possibly be a repeat of better times for sellers?  Are sellers in Central Florida FINALLY going to get a break? All we can say is stay tuned to find out!

Seattle—May 1, 2012:  Homebuyers are unexpectedly finding more competition this spring in landing their dream home. Bidding wars are increasingly being reported in markets across the country, from California to Florida, The Wall Street Journal reports.
“It’s a little surprising because we thought bidding wars were done with,” Andy Aley, a home shopper in Seattle said. Aley says he was outbid on a home earlier this year, even though he offered to pay $23,000 above the listing price and also waive inspections and other closing conditions.
Homebuyers are frustrated and caught off-guard about the bidding wars re-emerging, real estate professionals report.
“We’re writing a record number of offers, but we’re not seeing a record number of closings and that’s because it’s so competitive,” Glenn Kelman, chief executive of Redfin Corp., told The Wall Street Journal.
Why are things getting so competitive? Many housing markets are seeing a drastic decrease in the number of homes listed for sale, leaving homebuyers with fewer options and more bidding on the same house. Housing analysts say the shortage in supply is from sellers unwilling to take much less for their home than what they originally paid for it and pulling homes off the market. Also, a surge in investors who snatch up homes in bulk in all-cash deals has made the market competitive.
“The bidding wars caused by tight inventory provide the latest evidence that housing demand is starting to pick up after a six-year-long slump,” The Wall Street Journal reports.
National Association of Realtors® latest pending sales report seems to confirm the trend. Pending sales in March reached their highest level in nearly two years and are up 12.8 percent from one year earlier.
Source: “Stunned Home Buyers Find the Bidding Wars Are Back,” The Wall Street Journal (April 27, 2012)
© Copyright 2012 INFORMATION, INC. Bethesda, MD (301) 215-4688

Posted by: Wallace Lamoureux Real Estate Group of Central Florida @ Keller Williams | April 30, 2012

Low Mortgage Rates+Large Inventory+ Low Prices= Good Times For Home Buyers!

ORLANDO, Fla. – With low prices, low mortgage rates and a deep selection of choices, now is a great time to buy a Florida home, according to Florida Realtors®, the state’s voice for real estate.

“In almost all communities today, it is cheaper to own than rent, often by hundreds of dollars a month,” says Gene Rivers, operating partner, Keller Williams Realty North Florida in Tallahassee. “This is a golden age for buyers with low prices, record low interest rates and many home choices.”

Here’s a closer look at three key reasons to buy:

1. Low prices.  Prices for single-family homes and condominiums have fallen dramatically from their peaks in the mid 2000s. “Prices appear to be stabilizing in many local markets across the state,” says 2011 Florida Realtors President Patricia Fitzgerald,  “This is another positive sign that the housing recovery is gaining strength.”

2. Low mortgage rates.  Today, mortgage rates are far below their historic averages. In October, the average rate for a 30-year fixed loan dropped below 4 percent – the lowest rate the 40-year history of Freddie Mac, the national government-backed lending institution.

3. Large inventory.  Throughout Florida, there is large inventory of homes and condominiums in all price ranges. However, the number of sales is rising and the number of properties available at any time may gradually decline.

There is no better time than now to start the home buying process.  We work exclusively with our buyers to help them find the very best home to meet their needs. find out how we can help you find your next home sweet home.  Call The My Florida Good Life Team At Keller Williams 407-432-9180

Copyright Florida Realtors Association.
Posted by: Wallace Lamoureux Real Estate Group of Central Florida @ Keller Williams | April 18, 2012

Tips To Get Your Kitchen And Bathrooms “Show Ready”

Below are some simple tips to help you make your kitchen and bathrooms look like new!  whether your home is currently for sale, or you have guests coming over, these simple tips will help you on your way to a kitchen or bathroom that is White glove worthy!  Buyers have many homes to choose from these days, so going above and beyond while your home is on the market  will help your home look its best.

  • Wash walls and tile thoroughly. A little cleaner goes a long way and may save you money on repainting. Try using a Magic Eraser…it works wonders on kitchen counter stains, and lightswitch covers.
  • Instead of replacing cabinets, try refinishing them or just adding new hardware. This will give your kitchen a fresh new look without breaking the bank.
  • Repair dents or holes in baseboards, walls, and doors with wood putty and touch up paint.
  • Use a knife or screwdriver to remove any caulk or dirt from the space between the baseboard and the floor tile, and from around sinks, showers and bathtubs. Then re-caulk with bright white mildew-resistant silicon caulk.
  • Paint all baseboards to achieve a new bright feel.
  • Stage your bathroom just like you would the rest of your house. Add new towels, candles, or decorative soap to make the bathroom more attractive. if you are showing your home….take a little bit of shampoo or liquid soap and open it, or pour a little down the drain so it will smell fresh and clean.
  • Replace the old shower curtain or lining.
  • Clean up the clutter on your countertops, refrigerator, tubs, and sinks.
  • Empty your refrigerator if possible. If you can’t empty it, scrub it and organize your food to make it look appealing.
  • Scrub your stovetop. By using some inexpensive cleaner and a little effort you can renew the appearance of your stove and make it more attractive.
  • Buy and install new switch plates, or use the Magic Eraser To clean your existing lightswitches.
  • Clean fan blades.
  • Clean windows inside and out.
  • Make certain all lights and switches work and have high-wattage bulbs; polish the fixtures.
  • Polish all mirrors and appliances.

Brought to you by the My Florida Good Life Team- 407-929-2533  http://www.myfloridagoodlife.com

Older Posts »

Categories

%d bloggers like this: