Floridians Feel Cautiously Optimistic
A recent University of Florida survey shows a three point rise in Floridians consumer confidence in
December 2011.
Although the figure is one point below the level set a year ago, it s the highest increase
since March 2011.
The survey s benchmark reflects consumer confidence in 1966; a value of...
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Floridians Feel Cautiously Optimistic A recent University of Florida survey shows a three point rise in Floridians consumer confidence in December 2011. Although the figure is one point below the level set a year ago, it s the highest increase since March 2011. The survey s benchmark reflects consumer confidence in 1966; a value of 100 equals the same level of confidence for that year. The lowest index for consumer confidence is a 2, while the highest is 150. Conducted between Dec. 11 and Dec. 22, 2011 the survey tallied responses from 411 Floridians and measures 5 difference indexes; four rose and one declined. According to the survey, Floridians believing that their personal finances have improved from a year ago rose one point to 53. They have greater faith in the soundness of the U. S. economy: that index rose six points to 59. They also feel more hopeful about economic performance over the next 5 years as this index rose three points to 71. The largest jump was seen in
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From Bahia Realty Group
Foreclosure: A Step by Step Guide
The foreclosure process varies from state to state.
In some states, such as Florida, a judge must give a
lender permission before it can repossess your home.
Being served with a foreclosure lawsuit means that your lender has filed a "complaint" alleging the
reasons why it feels it should receive your...
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Foreclosure: A Step by Step Guide The foreclosure process varies from state to state. In some states, such as Florida, a judge must give a lender permission before it can repossess your home. Being served with a foreclosure lawsuit means that your lender has filed a "complaint" alleging the reasons why it feels it should receive your house as payment of the debt you owe. This complaint includes a "summons," allowing the court power over you, and a "lis pendens," a document filed in public records advising that the property is the subject of a lawsuit. Typically, you will have 20 days to respond to the lawsuit. Responding within this time period is important; if you do not do so, you will be in "default," thus allowing the lender to proceed with the foreclosure. Prior to the 20 days, your attorney should respond to the suit with a "motion to dismiss" or an "answer. " A motion to dismiss means that your attorney feels that the bank has no chance to win based on the complaint. An a
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From Bahia Realty Group
Great News for First Time Homebuyers
Homeowners are reaping the benefits of low mortgage rates and more affordable home prices
and theirmonthly mortgage payments reflectthis happy conjunction.
In 2006, the average monthly mortgage payment for a single-family home was $1,140.
Today,
homeowners pay nearly 40% less, or $700 for a...
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Great News for First Time Homebuyers Homeowners are reaping the benefits of low mortgage rates and more affordable home prices and theirmonthly mortgage payments reflectthis happy conjunction. In 2006, the average monthly mortgage payment for a single-family home was $1,140. Today, homeowners pay nearly 40% less, or $700 for a similar single-family home. This is great news for first time home buyers. Nationally,in 2006, mortgage payments accounted for 23% of the average family income. Today, the mortgage payment on a similar home accounts for a mere 13% of the average monthly family income. That s 10% more monthly income in a family s pocket! These rates are the lowest percentage since 1971. Source: Information,Inc. Jennifer Cook, Raul Aleman and the entire Bahia Realty Group team of real estate professionals welcome the opportunity to speak with you personally to discuss how to help you find,buy or sell your Tampa home or real estate investment property;secure mortgage financi
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From Bahia Realty Group
Signed Home Contracts Rise Significantly
According to the National Association of Realtors, home sales rose sharply in October and
continue to remain above existing levels one year ago.
Based on contractsignings, the Pending Homes Sales Index (PHSI) which reflects contracts, but
not closings, soared 10.
4 percent to 93.
3 percent in...
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Signed Home Contracts Rise Significantly According to the National Association of Realtors, home sales rose sharply in October and continue to remain above existing levels one year ago. Based on contractsignings, the Pending Homes Sales Index (PHSI) which reflects contracts, but not closings, soared 10. 4 percent to 93. 3 percent in October 2011. This is 9. 2 percent above October 2010 s rate. According to Lawrence Yun, NAR chief economist,realtors hope thatrecord low mortgage rates and increasing home affordabilitywilllead to further growth in the real estate market. Yun reports thathomeowners extremely low defaultrates, and declines in inventory, point to a recovering housing market. The Midwest Index reported the greatest jump,24. 1 percent,a marked improvement of 13. 2 percent above October 2010. The Northeast rose 17. 7 percent,over 3. 4 percent above October 2010. The South grew by 8. 6 percent which is 9. 7 percent above the same time period in 2010. Although the West sl
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From Bahia Realty Group
New Studies Suggest Florida Turnaround
Recent national studies by Realtor.
com, owned by the National Association of Realtors, and Trulia
show Florida markets may be poised for an upswing.
Realtor.
com s Top Ten Turnaround Report
Realtor.
com s study ranks a city s rising market potentialbased on a formula comparing recent
price...
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New Studies Suggest Florida Turnaround Recent national studies by Realtor. com, owned by the National Association of Realtors, and Trulia show Florida markets may be poised for an upswing. Realtor. com s Top Ten Turnaround Report Realtor. com s study ranks a city s rising market potentialbased on a formula comparing recent price appreciation, inventory changes, average age of inventory, area unemployment,and the number of searches by visitors to the site. According to Realtor. com, six of the top ten cities expecting an upswing are in Florida. Markets in Miami, Orlando, Fort Myers-Cape Coral, Ft. Lauderdale, Sarasota-Bradenton, and LakelandWinter Haven are all expected to improve. Factors include a healthy inventory,lower foreclosure rates, and increased condo sales in Miami. Orlando had more home searches compared to listings than any other city. In Fort Meyers-Cape Coral, foreclosure are down, foreign buyers are interested in the area, and median prices have increased yearly.
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From Bahia Realty Group
Monthly Housing Payments Less for Buyers than Renters
In the current real estate market, prospective home buyers with good credit benefit from a combination
of low home prices and low mortgage rates, according to an article in the November 26, 2011 issue of
The Wall Street Journal.
With home mortgage payments at a 15 year low, they...
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Monthly Housing Payments Less for Buyers than Renters In the current real estate market, prospective home buyers with good credit benefit from a combination of low home prices and low mortgage rates, according to an article in the November 26, 2011 issue of The Wall Street Journal. With home mortgage payments at a 15 year low, they are often less expensive than renting in some cities. Since 1991, buyers have experienced a 77 percent increase in their borrowing power. For example, in 1991 a $200,000 mortgage resulted in a $1,700 mortgage payment. Today, with interest rates at 4% or less, the same mortgage payment will cover a $350,000 mortgage, reports Dan Green of Waterstone Mortgage in Cincinnati. The picture for prospective home buyers with good credit may improve further over the next year as apartment rents are expected to rise another 4% nationwide. Source: Information, Inc. Bethesda, MD Jennifer Cook, Raul Aleman and the entire Bahia Realty Group team of real estate profes
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From Bahia Realty Group
Florida s Existing Home and Condo Sales Show Growth
According to Florida Realtors® latest housing data, sales of Florida s existing homes and
existing condos continue to climb.
In November 2011, 12,993 homes sold statewide: an 11
percent increase over the number of homes sold in November 2010.
Seventeen of Florida s
metropolitan...
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Florida s Existing Home and Condo Sales Show Growth According to Florida Realtors® latest housing data, sales of Florida s existing homes and existing condos continue to climb. In November 2011, 12,993 homes sold statewide: an 11 percent increase over the number of homes sold in November 2010. Seventeen of Florida s metropolitan statistical areas show a rise in existing home sales in November, while ten metropolitan statistical areas reported an upswing in existing condo sales. Florida Realtors Chief Economist, Dr. John Tuccillo, attributes this to two factors: prices are stabilizing and sales are increasing. Although sales have not increased significantly, they are on an upswing. As lenders become more adept at dealing with distressed properties, this upswing is destined to continue. Although homes sales are rising, statewide sales prices for existing home have not increased past the median price of $130,600 seen in November 2010. Analysts from the National Association of Real
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From Bahia Realty Group
More Homeowners Becoming Reluctant Landlords
Homeowners needing to move and finding themselves unable to sell, or "upside down" on their
homes, are increasingly turning to the rental market to solve theirhousing dilemma.
These
"inadvertentlandlords," may have found a financial solution to their problem, however they often
find...
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More Homeowners Becoming Reluctant Landlords Homeowners needing to move and finding themselves unable to sell, or "upside down" on their homes, are increasingly turning to the rental market to solve theirhousing dilemma. These "inadvertentlandlords," may have found a financial solution to their problem, however they often find maintenance issues and difficulttenants a challenge. According to Eric Balky with Harvard s Center for Housing Studies, approximately 2. 3 million single-family homes entered the rental market from 2005 to 2009, a staggering increase from the 700,000 single-family homes entering the rental market in the four years prior. The financial benefitto homeowners who converttheirhomes to rentals is undeniable; many are able to cover their homes expenses due to the strength of the rental market. Financial benefitmay be challenged by peace-of-mind, however, for those unable to cope with difficulttenants. Source: Information,Inc. Bethesda, MD. Jennifer Cook, Raul Al
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From Bahia Realty Group
Florida Real Estate a Lure for Brazilians
Brazilians love Florida; approximately 1.
8 million of our neighbors to the south intend to visit through
2013 and Florida s realtors hope to convert these visitors to home buyers.
Representative of Florida s realtors, along with Governor Rick Scott and John Sebree, Florida Realtors
vice...
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Florida Real Estate a Lure for Brazilians Brazilians love Florida; approximately 1. 8 million of our neighbors to the south intend to visit through 2013 and Florida s realtors hope to convert these visitors to home buyers. Representative of Florida s realtors, along with Governor Rick Scott and John Sebree, Florida Realtors vice president of public policy, traveled to Brazil recently hoping to encourage these prospective visitors whose country has one of the world s healthiest economies, to buy a home in Florida. Press coverage was extremely positive and stressed the beauty of Florida and its affordability for international buyers. Emphasizing that Florida s realtors can help Brazilians find the perfect property, the delegation was able to generate at least eight stories about Florida real estate. Florida Realtors also promoted Florida real estate with a booth at FIESP (Federação das Indústrias do Estado de São Paulo) and meetings with two Brazilian real estate associations in hope
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From Bahia Realty Group
Una Recesión de Doble Caída Aparece como Menos Probable
De acuerdo con el diario USA Today, a raíz de los reportes gubernamentales emitidos el 19 de Octubre,
los economistas se están sintiendo más optimistas acerca de un crecimiento económico en el tercer
trimestre.
Una encuesta de Bloomberg News estima un crecimiento...
More
Una Recesión de Doble Caída Aparece como Menos Probable De acuerdo con el diario USA Today, a raíz de los reportes gubernamentales emitidos el 19 de Octubre, los economistas se están sintiendo más optimistas acerca de un crecimiento económico en el tercer trimestre. Una encuesta de Bloomberg News estima un crecimiento económico de hasta 1. 8 por ciento proveniente de las proyecciones de los economistas de hace menos de 2 semanas atrás. De acuerdo con Paul Ashworth de Capital Economics, la expansión de ventas al por menor, manufactura, inversión en negocios y empleo sugieren que el crecimiento del tercer trimestre podría ser hasta un máximo de 3. 2 por ciento. El optimismo se debe en parte a las tasas de 10 años del Tesoro Americano, las cuales han crecido casi un 0. 5 por ciento, alentando una mayor inversión en actives de mayor riesgo, de acuerdo con el estratega de mercados Anthony Valeri de LPL Financial. La mayor parte del crecimiento es atribuido a la reducci
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From Bahia Realty Group
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