For the 6th straight week in a row, Freddie Mac reports that mortgage rates are down again this week.  The average for a 30-year fixed last week was 4.93, this week 4.84.

Orlando existing home sales increased in average price for the third month.  This month the price was up 4.5%, but don’t get to excited overall still down 11.5% compared to April 2009. Full Story

Early this summer the FHA will reduce allowable seller concessions — the percentage sellers can take from the sales price of a home to fund closing costs — from 6% to 3%.  Full Story

Please be sure to check with your tax advisor, currently it appears you will need the following documents. Form 5405 HUD-1 (Signatures according to area practice) Repeat Buyers – Proof of living in prior property for 5-8 years Full Story

New homes sales are traditionally down in December, more so this year with the third quarter push to meet the tax incentive deadline.  However in 2009, the Orlando Metro area finished with new contruction under $200,000 up by 30%, even with other new home construction segments falling. Looking at new construction?  Coldwell Banker Ackley Realty has specialized New Home Buyer Associates that will assist you...

Fannie Mae is offering up to 3.5% in closing-cost assistance to any owner-occupant who purchases a Fannie Mae property listed before May 1, 2010.   Eligible properties list can be obtained by emailing info@coldwellbankerackley.com or by searching on Fannie Mae’s Home Path website.

“The Orlando metropolitan statistical area posted an 8.2 percent year-end foreclosure rate, with one in every 12 households receiving a filing. A total of 72,141 filings — including notices of default, auction notices and bank repossessions — were filed on Orlando MSA homes last year, a 54 percent jump when compared with 2008’s 46,843. Osceola County, meanwhile, had the highest foreclosure rate in...

The Washington Business Journal reports that pending homes sales, rose 3.7 percent in October according to the National Association of Realtors. In addition the NAR predicts a balance between buyers and sellers by the middle of 2010. Full Article

According to the Fannie Mae monthly economic and mortgage market analysis predictions state that the economy will achieve reasonable growth in the fourth quarter of this year. “The question is whether the growth will be durable, especially after policy supports [stimulus] and the inventory cycle wane,” its economists said. “Our forecast continues to show that growth is likely to moderate somewhat in...

A whopping 79.6% more existing homes were sold in October in Orlando than in same month 2008 according to the Orlando Regional Realtor Association. Members of the association sold 2,206 existing homes in October, comparing to only 1,228 closings in the same month a year ago. Orlando homebuyers purchased 188 duplexes, villas and townhomes in October a mild increase from 103 in October of 2008. Condo sales totaled...