Orlando FL Real Estate Kissimmee and Celebration

Miley Cyrus has a top 10 song out called the 7 Things.  It is about likes and dislikes so here is what is happening new for buyers and sellers. 

Dislikes:

“Effective August 18th Fannie Mae and Freddie Mac will have an adverse Marketing fee added into their pricing.  The increase is subject to all lenders and  will be a .25 discount point.  

In addition, they will be increasing their loan level price adjustments based on credit score and loan type.  

So if you know anyone sitting on the fence.  Have them
act now to avoid these add-ons.”

Likes:

Here is a copy of our realtor call to action from Realtor.org of new legislation.  There is some terrific opportunities here but there are strings attached so be sure to talk to a professional to avoid the pitfalls of the benefits.

Here is the summary.  To hear of Miley Cyrus’s song see the video at the bottom.

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What’s it all about Alfie or in this case Orlando Real Estate Short Sales?

The song lyrics say it all.

What’s it all about?

So if you have heard the term short sale just what is it?

Selling short of what you owe with permission from the lender.

We have so many now in our Greater Orlando Board of Realtors MLS.  Selling them can be a challenge because there are so many and not enough service providers to help get the job done in a timely manner.  Would you like to stand in line at the bank for 3 months and still not know if your deposit was accepted?  This can happen with short sales not always but it is certainly a possibility if you are not working with a professional. 

What’s it all about when you sort it out?

Are we mean’t to take more than we give?

Be careful you may owe tax on the forgiven debt by the lender but not the IRS who could tax the difference as income.  Get professional help when considering this type of sale.

These are questions quite suited to short sales.

Here are some more answers to those questions and why buying or selling with a short sale may be for you.

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The Orlando luxury homes market is doing extremely well considering all the foreclosures, short sales and bad press the real estate market is getting.

Check out the statistics since Jan. 2008 by month for sales of homes over a million dollars in and around the Florida counties.  Orange, Polk, Osceola, Lake and Seminole Counties have posted multiple sales every month.

So just what has been happening?  Here are the numbers

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Mama Mia check out these updated Orlando Real Estate Opportunities  today.

Do you know The Name of the Game?  There are so many choices right now but don’t think foreclosures are the only deals. 

Orlando Builders too are ready to get rid of inventory.

What is the difference if you buy a foreclosure or new Orlando builder inventory?

• They might pay for your first years homeowners dues
• They could contribute substantially to your closing costs
• They would include furniture packages if you are in a short term area an $18,000 value
• They would offer a close out price on a returned unit to reduce inventory
• The biggest difference is you have new with warranty versus foreclosed in as is condition.

You do the math?  Want to know where some of these deals are lurking in Orlando?

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Mama Mia is not the only buzz this week opening in Orlando Florida and across the country.  What is happening with the state of mortgages and banks?  It has been all a buzz this week the state of the mortgage market.  

We even have been told about a list of lenders to watch.  Why if you are about to use one of these banks for your home mortgage better get alternatives just in case. 

Well personally I think the volatillity is here to stay, at least another couple years with all the Orlando Florida Real Estate to sell. 

Why it will take that long just to sell off all the inventory that has been created by the high foreclosure rates.

What if you are ready to close and loose your financing right at the last minute because your lender decides not to fund a condo sale?  Don’t think this has not happened we found one of our buyers just this week a terrific deal because of that.  So what can you do? Call us.

Financing for condo hotels is all dried up and those that are still there are almost impossible to find financing for anymore.  What can you do?  Call us for your best options.

Cash deals seem to be the only ones happening without hassels so here are the song titles from Mama Mia that will continue our theme this week.

Gimme Gimme Gimme (not a man a mortgage?)

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