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Altamonte Springs, FL Real Estate News

By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
Spring is here and Lake Mary homeowners are starting their respective Spring Cleaning rituals. In some households, Spring Cleaning is best tackled in a single weekend filled with rubber gloves, ratty clothes, and sweat. In other homes, it's a less serious undertaking.  Either way, to clean a home from top-to-bottom, you need to......   Read the COMPLETE BLOG POST HERE: Do Your Spring Cleaning Like Martha Stewart    
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By Rob Arnold, Metro Orlando Full Service - Investor Friendly & F
(Sand Dollar Realty Group, Inc.)
The housing statistics for February 2010 have been released by the Orlando Regional Realtor Association.  Here is a link to the detailed numbers. Below is the breakdown. The stats are for Orange County & Seminole County, including the cities of Apopka, Ocoee, Maitland, Winter Park, Orlando, Altamonte Springs, Longwood, Lake Mary, Sanford, Casselberry, and Oviedo Florida.                  Inventory    New Pendings   Under Contract     Expired    Withdrawn    Closed    Days on Market Feb 2009       22,168        2434                 4348                   1134          1488           1322          100 Dec 2009       15,549        2984                 8163                    1419           916           2410           89 Jan 2010       15,911        3579                 8590               ...
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
Homes are more affordable in Heathrow and across the nation as the housing market emerges from a slow winter season with mortgage rates still near 5 percent. Soft housing and low rates are an excellent combination for home buyers but whereas home values rise with a gradual pace, mortgage rates change in an instant.  It's something worth watching. Each 0.25% increase to conventional or FHA rates adds approximately $16 per month for each $100,000 borrowed. Mortgage rate volatility can change.......   Read the COMPLETE BLOG POST HERE: For Clues About The Future Of Mortgage Rates, Watch For Inflation    
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
Single-family Housing Starts idled last month, dropping just 3,000 units from the month prior, or 0.2%. According to the Commerce Department's report, February marked the 8th straight month in which Housing Starts straddled the half-million marker, dating back to June 2009. This is a different slant on the Housing Starts story as told by the press. Most publications are reporting that Housing Starts fell 5.9 percent in February. Technically, this is true.  Housing Starts did fall 5.9 percent last month.  However, the Housing Starts data is............   Read the COMPLETE BLOG P OST HERE: Single-Family Housing Starts Hold Steady For The 8th Straight Month  
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
Today, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged, in its target range of 0.000-0.250 percent. In its press release, the FOMC noted that the U.S. economy "has continued to strengthen" and that the jobs markets "is stabilizing".  It also said that business spending has "has risen significantly". This is a slight departure from the Fed's January statement in which.....   Read the COMPLETE BLOG POST HERE: A Simple Explanation Of The Federal Reserve Statement (March 16, 2010 Edition)  
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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 Federal Open Market Committee adjourns from a scheduled 1-day meeting today, its second of the year.  The FOMC has held the Fed Funds Rate in a target range of 0.000-0.250 percent since December 16, 2008, and the voting members of the Fed are expected to vote "no change" again today. However, no change in the Fed Funds Rate doesn't necessarily mean no change in mortgage rates.  This is because........   Read the COMPLETE BLOG POST HERE: A Rate-Locking Strategy For Today's Fed Meeting    
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By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
The following are the market sales statistics for Altamonte Springs, Seminole County, Florida for February 2010.  Altamonte Springs is made up of the zip codes of 32701 & 32714.  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 propertie...
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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 Federal Housing Finance Agency has extended the government's Home Affordable Refinance Program by 12 months. HARP's new end date is June 30, 2011. Originally known as Making Home Affordable, HARP aims to help Florida homeowners refinance their mortgage who may otherwise be ineligible because of falling home values. There are 4 basic HARP criteria every borrower must meet: The existing home loan must be guaranteed by Fannie Mae or Freddie Mac. Your home must be a 1- to 4-unit property You must have a perfect mortgage payment history going back 12 months. No 30-day lates allowed. Your first mortgage balance must be 125% or less of your home's market value If you're not sure whether Fannie Mae or Freddie Mac back your mortgage............. Read the COMPLETE BLOG POST HERE: How To Refin...
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
According to foreclosure-tracking firm RealtyTrac, foreclosure filings topped 300,000 for the 12th straight month last month as 1 in every 418 U.S. homes received a foreclosure filing. It's a small improvement from January and a just 6 percent increase over February 2009. On a per-capita basis, foreclosure density varied by state: Nevada : 1 foreclosure filing per 102 homes Florida : 1 foreclosure filing per 163 homes Arizona : 1 foreclosure filing per 163 homes California : 1 foreclosure filing per 195 homes Also, as in January 2010, foreclosures across the country were concentrated. 10 states beat the national Foreclosure Per Capita average; 40 states fell below. Like everything else............   Read the COMPLETE BLOG POST HERE: Foreclosures Per Capita | February 2010    
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
If your mortgage is set to adjust this year, the smart move may be to let it. Today's conforming mortgages are adjusting lower than ever before -- as low as 3 percent.  It may not be what you expected when you signed for your ARM several years ago. The reason why ARMs are adjusting lower is because of.........   Read the COMPLETE BLOG POST HERE: Don't Rush To Refinance That ARM -- It May Be Adjusting To 3 Percent Or Lower  
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
In November, Congress extended and expanded the First-Time Home Buyer Tax Credit program to include a subset of "move-up" buyers -- homeowners that have owned and lived in their home for 5 of the last 8 years. The credit ranges up to $8,000 per buyer. There's now just 7 weeks left to take advantage. To be eligible, home buyers must be under contract for a new home no later than April 30, 2010, and must be closed no later than June 30, 2010. In addition to meeting...........   Read the COMPLETE BLOG POST HERE: 7 Weeks Remain To Find A Home, Claim Up To $8,000 In Tax Credits  
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
You could call it the Ultimate Geek Gift for an iPhone-toting friend -- or even for yourself. It's a set of 16 coasters made to look like iPhone application icons. Made by Brazilian firm Meninos, the coasters are constructed from sturdy, medium-density fiber plywood and are coated...........   Read the COMPLETE BLOG POST HERE: Geek Gifts : The 16-Piece iPhone Coaster Set      
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
  According to the the National Association of Realtors®, "distressed homes" represented nearly 2 of every fifth home sold in January 2010.  Clearly, real estate investors in Orlando and around the country are taking advantage of good deals on cheap property.  But there's risk involved. This NBC Today Show interview first ran in March 2009, featuring real estate expert Barbara Corcoran. Despite its age, the message remains relevant. Today may be a terrific time to buy a bank-owned home -- just make sure you do your research first.  There's plenty of ways for investors to get burned. Some of the tips in the video include: Buy in your own backyard Start small, then build to a bigger portfolio Watch receipts -- rent rolls don't matter if tenants aren't paying rent Corcoran also gives point...
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
Mortgage markets had a terrible, holiday-shortened week last week as Wall Street responded to worse-than-expected inflation data and action from the Federal Reserve.  Mortgage bonds sold off with force, causing mortgage rates to rise for the second week in a row. Last week was a bad week to float a mortgage, to say the least. Rates in Lake Mary rose by the largest margin in any week since late-2009. The two biggest stories from last week both came from the Federal Reserve.  The first was the release of the FOMC January meeting minutes which showed more confidence in the U.S. economy than Wall Street expected, and the second was the Fed's surprise announcement to raise the nation's Discount Rate to 0.75%. Both sparked risk-taking on Wall Street and bonds sold-off as a result.  Now, the F...
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By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
The following are the market sales statistics for Altamonte Springs, Seminole County, Florida for January 2010.  Altamonte Springs is made up of the zip codes of 32701 & 32714.  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...
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates improved for the 4th consecutive week. Mortgage rates are now at a 6-week low but probably shouldn't be.  It underscores just how important global events can be to U.S. mortgage markets. For example, corporate earnings continue to improve and key elements of the economy are strengthening.  Even the Federal Reserve acknowledges this.  In most circumstances, that would be a boon for the stock markets and bond markets would suffer, including mortgage bonds. Last week, that wasn't the case. Early in the week, as (1) China tightened its monetary policy, (2) Greece did little to quell lingering defa...
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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 Pending Home Sales Index rose slightly in December, climbing 1 percent from November. A Pending Home Sale is a home that is under contract to sell, but not yet sold. It's a figure compiled by the National Association of Realtors® using sales data from over 100 regional listing services and more than 60 large brokerages around the country. Because each pending sale is a true measure of sales activity, the Pending Home Sales Index is purported to be the most reliable forward-looking indicator for housing. Recent data supports this hypothesis. After Pending Home Sales plunged 16 percent in November, Existing Home Sales fell by 17 percent in December.  Based on the most recent Pending Sales Index, therefore, we can expect January's closed sales to be similarly level. For home buyers , t...
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By Road House Realty
(Road House Realty)
Altamonte Springs Real Estate is a wonderfully diverse city located just north of Orlando, in Seminole County, Florida. According to the US Census, the population of Altamonte Springs is 41,200. In Altamonte Springs you will find an array of fine-dining and eclectic restaurants, amazing shopping, and lots more! Altamonte Springs is home to the Altamonte Mall and the upscale shopping, dining and recreation area known as Uptown Altamonte. Uptown is a popular local destination surrounded by a beautiful lake and park. There is a 900-seat amphitheatre and various weekly functions held in this area. Several times a week, performances, concerts, festivals and social events are held at the park and in the Eddie Rose Amphitheatre. Residents from nearby Maitland, Apopka, Casselberry, Longwood, S...
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By Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner, Chris Brown 407.367.2974
(Chris Brown | Certified Mortgage Planners)
Conforming and FHA mortgage rates improved last week on the combination of weaker-than-expected economic data and new anti-banking rhetoric from the White House. The S&P 500 shed nearly 4 percent in its worst weekly showing since October 2009 as all 10 sectors fell. As the money left stock markets, it made its way to bonds -- including the mortgage-backed variety. As a result, mortgage rates fell for the third straight week. Since shedding 300 basis points in December, mortgage bond pricing has recovered a bit more than half of those losses.  It's helping with home affordability and opening new refinance opportunities around the country. This week, though, mortgage rates could rise back up.  There's a lot going on. First, on Monday, the December Existing Homes Sales report will be relea...
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By Rob Arnold, Metro Orlando Full Service - Investor Friendly & F
(Sand Dollar Realty Group, Inc.)
Very shortly, it is going to be that much harder for people to get an FHA loan.  The Federal Housing Administration is rolling out new plans to tighten up on their loan program in order to shore up their accounts in the midst of this recession. New standards will include: - A minimum 580 credit score for buyers (presently there is no minimum score requirement).  If your score is less than 580, you will need 10% cash to close as opposed to 3.5%. - Raising the FHA premium from 1.75% to 2.25% of the loan amount (a nearly 30% increase in this fee) - Decreasing the allowance of seller contribution to buyer's closing costs from 6% down to 3%.  Big changes.  I know it will help improve the financial health of the FHA, however at the same time it will make that many more people not be able to q...
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