“Sales of existing homes in Florida rose 18 percent in May, marking 21 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors.    
A total of 16,745 single-family existing homes sold statewide last month compared to 14,172 homes sold in May 2009 (see chart above). The statewide existing-home median price of $140,400 in May was slightly higher – by $300 – than April’s statewide existing-home median price of $140,100. It marks the third month in a row that the statewide existing-home median price has increased over the previous month’s median.”

4.69% for a fixed 30 year mortgage?  Who would have thought it possible.  But then again, are we at the lowest point? Is this the time to refinance?  Who are the winners and the losers? Warnings?

 I watched a bunch of reports this morning and I think this one from CBS News does a good, concise job of summing it all up and making it easy to understand the pros and cons.

Hope it helps....  :)

According to the OBJ, Florida scored highest for its top marginal personal income tax rate, state minimum wage and its right-to-work status. Good news for us!

If you look at the right sidebar of this blog ORLANDO REAL ESTATE MATTERS you will see boxes that display listing inventory and pricing trends for most of the neighborhoods in Downtown Orlando as well as Winter Park.   If you have questions on how to interpret this information, or if there is a specific neighborhood that you would like information for that is not listed....just let me know and you shall have it   :)

Wow.... I count at least two puns in that headline:)

Seriously,  according to CNN, you really have to weigh all of your options before you turn in the keys and walk away from a loan commitment you have with a bank for a property you own.  It can be many years (more than you might think) before your credit score is restored and you have the opportunity to borrow money. So before you pull the plug, you should consult with someone who might offer some other suggestions and possible solutions.  Someone like your Realtor for starters.  In the past year I have worked with a number of homeowners thinking they had only two possible paths- short sale or foreclosure.  In every single case, I have sold their homes without having to resort to either of these options....and the sellers' credit was not impacted at all.

Here is the article from CNN

If I can be of any service, or if you have any questions...please do not hesitate to get in touch with me.


 

In a nutshell, from the first graph you will note that the amount of pending sales in Orange County increased significantly in April (in part to the deadline for the $8000 tax credit), homes on the market continue the declining trend, and actual sales remained basically flat though up significantly from last year.

In the second graph you will note that the "days on the market" number for homes in Orange County is the lowest in over a year, while sold price averages 96% of list price.

For more information about what these numbers might mean to you, or if you would like to see data on any other counties in Central Florida, please get in touch with me.

This article from this morning's Orlando Sentinel...... still sitting on the fence?

It is the combination of lowest pricing in years AND wages and earnings - which have remained stable.
Give us a call if you have any questions.