Coldwell Banker Ackley Realty » Real Estate News

Mortgage rates drop

CBAR Admin — Fri, 21 May 2010 12:43:43 +0000

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.

Home prices on the way up

CBAR Admin — Thu, 20 May 2010 15:11:19 +0000

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.

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FHA to Reduce Closing Cost Assistance

CBAR Admin — Tue, 18 May 2010 17:57:50 +0000

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%.

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IRS Clarifies What’s Needed to Claim Homebuyer Tax Credit

CBAR Admin — Thu, 25 Feb 2010 14:09:09 +0000

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

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New Construction Under 200k up 30%

CBAR Admin — Thu, 04 Feb 2010 16:14:57 +0000

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 in negoticiating the best price available from the builder. Our professional service is free to the buyer, saving you time and money is our goal!

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Fannie Mae to assist buyers

CBAR Admin — Fri, 29 Jan 2010 18:31:42 +0000

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.

Orlando No. 7 in 2009 foreclosures

CBAR Admin — Thu, 28 Jan 2010 21:44:08 +0000

“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 Orlando MSA with 12.5 percent, or one in every eight homes receiving a filing. The Orlando MSA was one of eight Florida metro areas among the nation’s top 20 with the highest foreclosure rates. Only California had more, with nine MSAs in the top 20.”

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Homes Sales Up 9th Month Straight

CBAR Admin — Tue, 01 Dec 2009 21:27:25 +0000

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.

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The Recession Is Over..Unoficially That Is

CBAR Admin — Wed, 18 Nov 2009 17:51:28 +0000

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 the current quarter and early next year, before strengthening in late 2010.”

- Source

According to market forecasts home sales will rise 10 percent in the next year while outstanding mortgage debts will fall 1.7 percent in 2010.

With the help of the Homebuyer Tax credit Extension and it’s expansion to include current homeowners, home sales are expected to continue to benefit.

Home sales jumped 9.4 percent in September, to the highest level in two years according to the National Association of Realtors.

Home Sales Up Nearly 80% In Orlando

CBAR Admin — Tue, 17 Nov 2009 21:08:10 +0000

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 411 in October, over three times more than the 122 sold in October of 2008. A total of 3,499 condos have been resold year-to-date, compared to the 1,185 during the same time last year.