WASHINGTON – Sept. 3, 2010 – Mortgage rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy.

The average rate for a 30-year fixed loan was 4.32 percent this week, down from 4.36 percent last week, mortgage buyer Freddie Mac said Thursday. That’s the lowest since Freddie Mac began tracking rates in 1971.

The average rate on a 15-year fixed loan dropped to 3.83 percent from 3.86 percent the previous week. That’s the lo... [MORE]

NEW YORK – Aug. 31, 2010 – The seemingly endless run of bad housing news is discouraging some potential homebuyers from considering a purchase. But the truth is that the advantages of homeownership have very little to do with investment gains, and a lot to do with personal comfort and satisfaction.

Here are five of them:

• Be your own landlord. The bank can only kick you out if you don’t pay; a landlord can be much less dependable â€... [MORE]

A new report from the National Association Of Realtors® (NAR) – Social Benefits of Homeownership and Stable Housing – explores the impact and positive social outcomes that result from homeownership.

According to NAR’s study, homeowners are more active in communities, benefit from improved education opportunities, and report higher levels of self-esteem and happiness compared to renters.

“Homeownership is in investment in your future – home is where we make memories, build... [MORE]

Five reasons to buy a home now:

ORLANDO, Fla. – Aug. 4, 2010 – The tax credit expired, but it’s still a great time to buy a home thanks to low mortgage rates and motivated sellers. Here are five reasons why now is a great time to buy:

1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today’s record-low rates, they start building equity as soon as they close. That m

... [MORE]

ORLANDO, Fla. – July 30, 2010 – The Gulf oil spill hasn’t ruined Florida’s economic recovery and the modest growth will continue this year, according to a new report.

While the oil crisis dealt a blow to the Panhandle tourism industry, it won’t be enough to stop the Sunshine State’s economy from growing 2.9 percent this year, a University of Central Florida forecast said. Even so, the report predicts recovery at snail’s pace both stat... [MORE]

 

This was the headline in International Property Journal, an independent, authoritative source of news and information for agents, investors, and industry executives working in global property markets. The story, which appeared on June 17, 2010, cited a report published by Global Edge, ranking popular resort and second... [MORE]

NAR: International interest in U.S. homeownership increases

WASHINGTON – July 8, 2010 – International homebuyers are increasingly attracted to property in the U.S., according to the National Association of Realtors®’ 2010 Profile of International Home Buying Activity. Several factors, including the strength of the dollar, the value and desirability of U.S. re

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Congress extends homebuyer tax credit and flood insurance

The U.S. Senate passed two bills last evening previously passed by the House. Both bills still need President Obama's signature to become law, but that's expected to happen quickly.

Homebuyer tax credit
The Senate passed HR 5623, which extends the mandatory closing date to qualify for the homebuyer tax credit. The contract deadline does not change - homebuyers must have a contract si... [MORE]

A relatively new and exciting loan product on the market is the REVERSE PURCHASE MORTGAGE. This program is for senior home buyers age 62 and above to buy a home or condo as their primary residence and finance it through this non-recourse loan. This allows these senior buyers to make NO monthly mortgage payments for as long as they live in that home.

There are many myths that surround the reverse mortgage concept. In the next few lines I will... [MORE]

If you're of 62 years of age or older and require money to pay for your medical expenses, make home improvements or for any other purpose, you can consider obtaining a reverse mortgage. This home loan allows you to convert a portion of your equity into cash. As compared to a traditional second mortgage or a home equity line of credit, reverse mortgage is easy to obtain as you don't have to qualify a debt-to-income ratio. As... [MORE]

Home size declines; buyers opt for single story

WASHINGTON – June 15, 2010 – The size of new single-family homes declined again in 2009, dropping to a nationwide average of 2,438 square feet, according to information about new home characteristics released recently by the U.S. Census Bureau (

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Property sales in May 2010 in the Sarasota market once again hit the highest total since 2005 and median sale prices continued the steady pace observed in recent months.
The 766 sales were the highest for the year, topping the April 2010 total of 757, and were the highest total since December 2005, and 51.3 percent higher than the May 2009 total of 506 sales.
Pending sales were once again strong, hitting 857, but were slower than April 2010. The March and April pending sales figures both t... [MORE]

 
Some experts are saying that the next big real estate problem could be a shortage of homes.

Only 672,000 new homes were started in April. That’s less than half the number needed to meet the country’s average population growth.

In the past, an average of more than 1.3 million households have been built each year, creating demand for 1.5 million new homes. In 2009, only 398,000 new hous... [MORE]

Homeowners to get help with troubled loans

TALLAHASSEE, Fla. – June 10, 2010 – To reduce the number of foreclosure cases burdening the courts, the Florida Supreme Court ordered judges in the Sunshine State to implement a mediation program.

The 12th Judicial Circuit covering Sarasota and Manatee counties has become the 10th to do so. Beginning June 21, owners of homestead properties in foreclosure

... [MORE]

WASHINGTON – June 7, 2010 – To rent or to buy? For millions of Americans, that is the question. The recent housing boom and subsequent bust seem to provide a clear... [MORE]

  FHA: Loan of Choice for Most Buyers
The vast majority of potential home buyers – 87 percent – plan to use a Federal Housing Administration home loan to finance their purchases, according to a new survey from the Home Buying Institute, a consulting service.

In a survey of 12,000 home sh... [MORE]

Strategic Defaulters May Not Buy Again Soon
How long will it be before former home owners who walked away from their mortgages can buy again?

Mortgage lenders are saying that in the future, losing a home because of illness or job loss will be seen differently than choosing to abandon a mortgage obligation for other reasons.

"If you made a strategic decision to d... [MORE]

When purchasing a home, more often than not, as a buyer the need to obtain mortgage financing is a key to the transaction taking place. In today's world of mortgage financing, one's credit score is of major importance. Knowing your score and maintaining a decent score will enhance your buying power and expedite a home purchase. Since your credit score is based on your credit report, any reported delinquency will lower your score. Be aware, credit report errors are comm

... [MORE]

The real estate and mortgage industry has never seen the number of rapid changes taking place as we witness today.
  
The mortgage industry is in a constant state of flux with the various new regulatory mandates being put into place. Some are necessary, but many are a reaction to the real estate/mortgage abuses which took place several years ago and we are seeing the results of  for the past couple of years.

Regulatory enforcement of laws, rul... [MORE]