Fannie Mae HomePath

New Borrower Web Site Available -- KnowYourOptions.com

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Florida’s existing home, condo sales rise in June 2010

Existing-home sales slow in June, above year-ago levels.

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Mortgage rates remain at lowest level in decades

Mortgage Rate Trend Index Don’t expect rate changes over the short term, say 55% of experts polled by Bankrate.com this week. Most of the others (40%) foresee an increase, however – only 5% think rates will go lower.

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Flood premiums cause some to take storm-season risk

Florida homeowners face mounting flood-insurance challenges this year as they wade deeper into hurricane season.

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Local Real Estate Stats

Average prices are up by $10,0000 from 2009. Numbers of Sales drops 18%.

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Congress gives homebuyers more time to close for tax credit

Congress gives homebuyers more time to close for tax credit Obama signs extension bills On July 2, Pres. Obama signed into law HR 5623, the Homebuyers Assistance and Improvement Act of 2010, which extends the homebuyer tax credit closing date to Sept. 30, 2010, for qualified buyers with a purchase contract that was signed by April 30, 2010. He also signed HR 5569, which retroactively reauthorizes the Federal Emergency Management Agency (FEMA) to enter into new contracts for flood insurance under the National Flood Insurance Program through Sept. 30, 2010.

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SW Florida Beaches

This is an up to the minute website for what is going on in our local Gulf water ways.

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Tough Time for Sellers

For Sellers who are not in financial distress, it is very difficult to sell at a price that would be reasonable for them. They have to compete with Foreclose pricing/

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70% of Modifications in May Were Non-HAMP!!

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New Laws Designed to Help Property Owners

Passage of legislation that stimulates condo sales? A law requiring oversight of appraisal management companies? Killing a disclosure that would have reduced the prices of coastal properties? Tax breaks for homeowners impacted by tainted drywall? Consider it done.

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Florida Appliance Rebates

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HUD to Provide Temporary Relief to Homeowners Facing Problem Drywall

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Using the 203k program to purchase ‘dream homes’?

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New Home Affordable Foreclosure Alternatives Program

New Federal Government Program aimed at slowing Foreclosures.

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Senate panel OKs extension for home buyers’ credit

Senators reached a compromise to extend the $8,000 tax credit for first-time home buyers, a boost the housing industry expects will help it pull out of its two-year-old downturn. Lawmakers in Washington also added a $6,500 tax credit for other primary-home purchasers and raised the qualifying income limits to $125,000 for single taxpayers and $225,000 for joint taxpayers, housing-industry sources said.

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5 steps to financing a sale

Thoughts on Steps to take if you consider owner financing.

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Card Reform Offers Good News and Bad

Life with a credit card presumably got a little easier in August 2009.

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Gender Differences Abound in the Home-Buying Process

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Option ARMs Threaten Housing Rebound as Resets Peak (Update2)

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WHAT IS CHINESE DRYWALL?

www.chinesedrywall.com

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Foreclosures drive nearby home prices down

Foreclosures drive down the value of neighboring homes an average of $7,200 per home

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Before You Bash Your Mortgage Broker: Take This Test

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HUD issues sanctions against 120 FHA lenders

WASHINGTON – May 22, 2009 – The U.S. Department of Housing and Urban Development’s (HUD) Mortgagee Review Board announced actions against more than 120 lenders for violating FHA requirements. Violations include a failure to conduct sufficient quality control, failure to continue to meet FHA recertification requirements and falsifying loan documents.

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Buying Foreclosed Homes: Deal or No Deal?

HouseMaster®, a home inspection franchisor, reports there are abundant opportunities for qualified homebuyers in the current real estate market - triggered by a 28% rise in foreclosure activity from last year. While President Obama’s $75 billion loan modification and refinancing Homeowner Affordability and Stability Plan will help as many as 4 million struggling homeowners, it won’t save everyone from foreclosure resulting in prime deals for qualified homebuyers.

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Qualify For Any Mortgage - How to Get a 750 Credit Score

Protect your personal credit!

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Banks Ramp Up Foreclosures: Report

Some of the largest mortgage companies in the US are stepping up foreclosures on delinquent homeowners, and will likely lead to more Americans losing their homes, the Wall Street Journal reported Wednesday

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Mark to Market Closer to a Necessity for Recovery

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How Will Foreclosure Effect Credit Scores?

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Short Sales Test Homebuyers’ Patience

Those searching for the best housing bargains on the market might consider buying a short-sale property, but there’s an important qualification for buyers interested in going this route: They need plenty of patience.

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Markets face ‘irrational pessimism’

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House Prices

This just happens to be the perfect confluence of opportunity and necessity: we must fix the economy and we’re going to, whatever it takes. Inflation is an unavoidable side effect. Buy that house this year!

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HUD Secretary: Banks must play role on foreclosure

Housing Secretary Shaun Donovan said Thursday it’s critically important that banks and lending institutions work to help make certain the Obama administration’s new home foreclosure initiative succeeds.

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Key Provisions of the American Recovery and Reinvestment Act

Overview of President's Plan for HomeOwners

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Florida’s down-means-up property tax rule baffling homeowners

Many homeowners across Florida are asking the same question: If the value of my home has dropped, why has my tax bill increased?

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Investors still on tax hook

For homeowners in trouble, a short sale can be a lifesaver. Lenders allow a house to be sold for less than is owed on the mortgage and then write off the rest. The homeowner just walks away. Unless the owner is an investor, that is.

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Cape's Burnt Store boat ramp reopens Saturday

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Under-used FHA loans can aid in home repairs

The faltering real estate market has left many homeowners feeling trapped in homes that no longer suit their needs, but an under-utilized, government-insured loan may be the antidote for some. An FHA loan established in 1996 known as a 203k rehab loan can help homeowners redo their existing home or even help interested home buyers buy a fixer-upper and rehab it without having to take out a second loan.

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Is Save Our Homes portability selling houses?

If the market value of a house rises, for example, from $100,000 to $110,000 in a year, or to $200,000 in 10 years, the county tax assessor can raise the market value of the house by only 3 percent per year. So a house worth $100,000 in 1998 can have a maximum market value of only $134,000 in 2008. That means the cumulative effect of Save Our Homes is enormous.

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Wind and Flood Insurance

Insurer wants to cover wind and flood insurance in a single policy

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Hurricane Mitigation

Procrastinators take note: If clients want a free hurricane home inspection courtesy of the State of Florida, sign up now. Most homeowners save money on property insurance following an inspection, but the program will achieve its goals and probably stop taking new applications later this summer.

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Housing Indicators

Check out the Numbers!

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PROPERTY TAXES

FAR backs Amendment 5 property tax reform that voters will consider in November, but the opposition officially kicked off its campaign yesterday. John Sebree, FAR vice president of public policy, notes that the opposition group's anti-amendment campaign has not offered any alternative solutions to Florida's current property tax crisis. "Is any property tax relief good to them?" he asks.

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Stocks Up Sharply After Fed Credit Plan

Wall Street rebounded sharply Tuesday after the Federal Reserve and other central banks said they will pump $200 billion into the financial markets to help ease the strain from the credit crisis. The Dow Jones industrials surged more than 270 points.

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Lee commissioners, builders to return to impact fee issue

Commissioners on Feb. 26 put off a decision on whether to eliminate or decrease impact fees as a way to stimulate the local economy, asking staff to report back in two weeks with more information. Staff will address commission at a meeting Tuesday.

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Why Buying Now Can Be a Smart Move

Although much of the housing market is in a slump, this is still a good time for most to buy a home.

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Market Brings New Rules for Pricing a House

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Florida Realtors continue efforts to support ‘Yes on 1’

For more information about Amendment 1, go to: www.Yeson1Florida.com.

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Crist’s team will review insurance-rate reforms

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Highest Job Growth in Cape Coral

Best Cities for Job Growth

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Daily Real Estate News

For Most Buyers, the Mortgage Market Is Healthy

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Lee County property tax rate going down

THE VOTE • Reduce the county budget — dropping the general fund tax rate from $3.52 to $3.27 per $1,000 of taxable property value and the capital improvement rate from $0.45 to $0.38, while maintaining the Conservation 2020 rate at $0.50 — for a total cut of from $4.48 to $4.15: 3-2, with commissioners Brian Bigelow and Frank Mann opposed. • Reduce the unincorporated county rate from $0.93 to $0.84 per $1,000 of taxable value: 3-2, Bigelow and Mann opposed. • Reduce the library tax rate from $0.41 to $0.38: 3-2, Bigelow and Mann opposed. • Reduce the hazards tax rate from $1.41 to $1.29: 4-1, Bigelow oppos

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Property Taxes and Tax Bills

Property values, tax bills decline Homestead no protection against tax increases this year

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Property Tax Reform

FAR has pledged up to $1 million to support passage of the January property tax amendment. “Passage of this amendment is critical to the future of Florida,” says FAR President Nancy Riley. “It will provide first-time homebuyers a large tax exemption. It will begin to equalize property taxes among neighbors. And it will allow the people who are the foundation of our neighborhoods – teachers, nurses, police officers and emergency first responders – to afford to live in the communities they serve. It’s time to reform Save Our Homes.” To read more, go to: http://www.floridarealtors.org/ LegislativeCenter/ TopInitiatives/index.cfm

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When Your Home's Value is Less Than the Mortgage

Real Estate & Mortgage Insights

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NAR: Home prices to recover in 2008

National Association of Realtors prediction for 2008 home sales.

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Last Week in Review

Mortgage Rates Rise as Mortage Bond Market Drops

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Answer to Gas Problem?

A Florida man may have accidentally invented a machine that could solve the gasoline and energy crisis plaguing the U.S., WPBF News 25 reported.

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Florida economist predicts housing ready to recover

A top Florida economist has declared the housing slump a done deal.

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Growing technology sector boosts housing

The country's high-tech industry added nearly 150,000 new jobs in 2006, according to “Cyberstates 2007,” an annual report detailing trends in high-tech employment and wages.

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Hearing to deal with Pine Island land development

The Lee County Board of County Commissioners plans a second public hearing on Pine Island land development codes Tuesday. There will be no vote. The vote is scheduled for the commissioner’s 5 p.m. May 29 meeting at commission chambers in the old L...

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Market News

Explanation of the current market trends and mortgage rates.

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Florida Legislature may agree on method of property tax reform

Update on Progress to lower Florida property tax

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Housing Indicators

Currnet Market Statistics