Mortgage and Housing News

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Going Solar? What are the costs and payback time? Some gret information from Kiplinger….

https://homes.yahoo.com/news/6-things-you-must-know-about-going-solar-221120074.html

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Selling Your Home Requires Doing Your Homework!

HouseHere are 5 tips that can help in selling your home? Some sound advice on how to get the best price for your home!

http://www.usatoday.com/story/money/personalfinance/2014/07/26/home-selling-tips/13113097/

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Pre Approval for Your Mortgage –

What, When How and Why you need a pre approval letter to purchase a home!

http://www.credit.com/loans/mortgage-questions/how-to-get-pre-approved-for-mortgage-home-loan/?utm_source=Yahoo&utm_medium=content&utm_content=BO_3&utm_campaign=negotiate_home_sale

 

10 turnoffs for potential homebuyers

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Save for the in ground pool ( a very major plus here in SW Florida), everything else is spot on! And yes if you still have avocado appliances you are way past due for a kitchen make over!  https://homes.yahoo.com/news/10-turn-offs-potential-buyers-150640994.html

Flood Insurance Update

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Private Flood Insurance may be coming to Florida. Currently policies are underwritten by the Federal Government. If Gov. Scott approves the bill private companies will be able to provide coverage at competing rates.  See the article here:

http://www.insurance-center.net/contentPages/Extra%20Pages/Private%20Flood%20Insurance%20on%20the%20Horizon/

 

April 2014 Realty Report Lee County FL

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The FHA back to work program: A second chance for homeowners

A consumer who sold his or her home in a short sale or lost it in a foreclosure would normally have to wait 36 months to purchase a primary residence again with an FHA fixed-rate mortgage. However, the FHA Back to Work Program allows a buyer to purchase a primary home just 12 months after a foreclosure, short sale or a deed in lieu of foreclosure. Read here

When Homeownership is Better than Renting!-10 Good Reasons to Own versus Rent

http://news.yahoo.com/homeowners-better-off-renters-145000609.html

Remodeling that Bathroom? Avoid these 5 mistakes:

You are ready for a DIY Bathroom Remodel – the pros share 5 mistakes to avoid having your DIY project become a disaster!

https://homes.yahoo.com/news/pro-tips-5-most-common-bathroom-renovation-mistakes-183205756.html

The NEW Qualified Mortgage Rules

New Qualified Mortgage Rules and how do they affect the homebuyer seeking a mortgage?  Seven questions and answers that give a in depth insight into these new rules http://www.fool.com/investing/general/2014/03/22/7-questions-you-need-to-ask-about-the-new-qualifie.aspx

 

 

Spruce Up Your Curb Appeal!

Looking to spruce up that front yard?  Want some curb appeal especially if your looking to sell?  Flower plantings are relatively inexpensive and can “dress up” your front yard! http://shine.yahoo.com/photos/flex-green-thumb-10-best-slideshow-180000933/

Deductions for Tax Time!

Picture4It’s Tax Time – April 15th is just around the corner.  Homeowner?  Here are 8 tax break items you should be taking if you itemize deductions!  http://www.minyanville.com/trading-and-investing/personal-finance/articles/8-Tax-Deductions-for-Homeowners-tax/3/21/2014/id/54273?camp=syndication&medium=portals&from=yahoo

 

More than Just the $$$$  Down Payment!

Your looking to buy and that doiwn payment figure is foremost on your mind!  There is more than just the down payment that meets the eye! – think upfront costs, reserves, residual income.  This article spells out what you will need

http://homes.yahoo.com/news/saving-for-a-house–it-s-more-than-a-down-payment-182347558.html

Credit Scores and Financing!

Picture7With the recession and housing bubble bursting there is an underserved population of borrowers who have been “shut out” from traditional mortgage financing due to low credit scores.  Well bad things happen to good people and now there is a move to supply financing programs for these underserved borrowers.  Carrington Mortgage Services LLC wants to boost lending to “underserved” borrowers with FICO scores below 640″   – See more at:  http://www.inman.com/2014/03/24/carrington-mortgage-services-taking-minimum-fico-score-down-to-550/

10 Real Estate Terms Every Buyer and Seller Should  Know –

Knowledge is Power!  These ten terms are found in every real estate transaction. Understanding these terms and their meaning will give you a smoother buying or selling process and also avoid any long term financial mistakes!

Click here to learn more

Flood Insurance –

a hot topic since Cape Coral has designated flood zone areas.  Do you need flood insurance?  Is it mandatory? That depends on where your property is located, the requirements from your financial institution and other facto…rs.  Your best bet is to check with your realtor and local government agency.  Be advised that flooding is not just from a storm surge during hurricane season!  Flooding from a backed up city storm drain an cause damage to your home and most homeowners policies do not cover flood damage! Click here to learn more

 

Open House

You’re selling your home!  One of the marketing tools your agentHousing 3 can use is the Open House Showing.  A bit unnerving having complete strangers walk through your home? Yes it is; however, you and your agent can insure a “safe harbor” during an open house.

Click here to learn more

Making The Extra Mortgage Payment

MortgageMaking that one extra mortgage payment each year can result in big payoffs especially if your goal is to retire with no mortgage!

Click Here Extra Mortgage Payment

What’s In, Thinking of remodeling that kitchen in 2014?  Looks like trends may be changing:  granite, espresso floors and closed panel cabinets may be out!What’s Out for Kitchens in 2014 Click on Kitchen

 

Solutions to Help Pay Your Mortgage

For those that are struggling to make that mortgage payment ( and yes there are still many who are still impacted by a waning economy) – there are other options versus foreclosure or short selling – no gaurentees however, its worth taking a shot to see if these programs can help!  Click on —> Help

 

 

Avoid Financial Scams!

Don’t become a victim of a financial scam!  Seniors are the prime target for many of the scams out there.  Someone is always looking to help you part with your money.  If its too good to be true its usually too good to be true!  Be aware, ask questions, call a trusted relative.  Click Here –> Avoid Scams

How Do I Get A Home Loan?

You’ve found the home and now comes finding the mortgage!  Coventional is only ONE way to go.  We also just helped a buyer find a mortgage that has a program for foreclosures and bankruptcy so there is more than one way to obtain financing.  Call us we can provide information.

http://www.fool.com/investing/general/2013/12/15/buying-your-dream-home-heres-how-to-get-a-loan.aspx

Had a Foreclosure or Short Sale?

For those who have had foreclosures or short sales, your credit and financial history takes a hit.  That doesn’t mean you are shut out of the housing market.  Aside from financial institutions, mortgage finance companies have also developed lending plans for would be homeowners that faced the financial crisis.

http://finance.yahoo.com/news/buy-house-flawed-finances-130016011.html

 

Five questions you MUST ask your lender about YOUR mortgage!

http://finance.yahoo.com/news/5-things-homebuyers-forget-ask-113023580.html

Planning to Buy A House This Fall?

5 Tips on house buying – the summer is gone – what happens to housing prices in the Fall?

Housing 3Interesting article – Some good tips on house buying – According to National Association of Realtors numbers, there’s a natural discount of about $7,000 after Labor Day. It’s a bit less in the West or in the South, where the “cold” months o…nly increase demand, but Midwest home prices fall by an average of $10,000 between August and September while Northeast prices drop nearly $20,000 by October.- yes the busy real estate season is coming real soon here in SW Florida.

Click on the article:  http://www.thestreet.com/story/12029646/1/5-things-you-have-to-know-about-buying-a-home-this-fall.html?puc=yahoo&cm_ven=YAHOO

Cape Coral Housing Market as of September 9, 2013

Average Price of Homes Cape CoralLatest news from the National Assoc of Realtors home prices continue to rise and inventories continue get tighter.  In Cape Coral  latest numbers show median home prices have increased 11.1% from a year ago and inventory is down 16.5% (6368 units vs 7788 units ).

September 09, 2013                 Month/Month                 Year/Year
                Median Asking Price                 $239,900                 -3.7%                 +6.6%
                Home Listings/Inventory                 7,185                 +14.9%                 -6.3%

Click here for complete report  http://www.deptofnumbers.com/asking-prices/florida/cape-coral/

What’s Your Roof Look Like?

Housing 3One of the curb appeal itemsregarding your home – your roof!  Does it look clean or does it have those dark smudgy lines running through the shingles or tiles?  The culprit – an algae that thrives on humid wet weather – the kind you find here in Florida!  Great article on the ins and outs of roof cleaning maintenance.

Click on Roof Maintenance

 

 

Florida Economy on the Rise!

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Great news about our Florid economy – projectons show that the sales tax revenue is moving ina positive direction possibly with a surplus in the state coffers for FY 2014!  Great shot in the arm for Floridas and the housing market! Strong fiscal policy does have it’s reward

s and note that Florida does not have a state income tax – great for retiring boomers! Come on Down!  Click on the link:  Florida Economy

 

Housing 1SWCape Coral/Fort Myers Makes the List!

The housing market is coming back strong as evidenced by the increase in single family home prices – location, location, location plus a  decrease in avaialble inventory units as well as the positive trends for Florida’s economy have placed the SW Florida area on the list!  In relation to larger metro areas in the country there is still value for would be home owners looking to relocate to this area!  Existing home values as well as price per square foot for new construction and quality of life  are still in demand attributes in this part of Florida.

Click on: Florida Makes the List!

 

How Much Home Can I Afford?

Picture7It’s a tough undertaking with a calculator, spreadsheets, documents, etc.  Here is a very simple calculator that does all the “grunt” work for you just supply the information and press submit.  The calculator is for general information only.http://homes.yahoo.com/calculators/afford.html

A Little-Known Way to Cut Your Mortgage Payment

Let’s talk PMI – Private Mortgage Insurance – If you don’t have 20% down you pay the insurance on a monthly basis to insure the lender against future mortgage payment default. It can be an expensive add on.  There is another option that can save you money – Single-Pay Mortgage Insurance.  A one time fee versus a monthly fee with an upside.  Read on….

http://homes.yahoo.com/news/little-known-way-cut-mortgage-110030570.html

From Forbes:  Ten Ways to Control Your Home Insurance Costs

HouseHome Insurance – you need it no two ways about it!  In Florida you may also need Flood Insurance since flood type damage is not covered by your homeowners policy.  So how can I save money when shopping for homeowners insurance?  The article gives some great tips.  Also you can have a wind mitigation inspection to make sure your home is at the established code level for hurricane coverage plus can save you more money.
http://homes.yahoo.com/news/10-ways-to-control-your-home-insurance-costs-000459161.html

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Is Now the Time to Buy A New Home?

Is 2013 YOUR year to purchase a home?  The article covers a few key points – your financial staus, the housing market and prices, cost of borrowing and your ccosts in owning a home.  Follow the link….Good reading.   http://homes.yahoo.com/news/is-2013-the-right-time-to-buy-a-house–231039614.html

June 2013 Cape Coral Housing Data:

 

June Housing

Click on Image to Enlarge

from the Department of Numbes website – June housing information for Cape Coral – Median asking price up almost 6% from a year ago with inventory continuing to decline by about 20% from a year ago. … June July and August is usually the “slow season” so sellers are anxious to sell – great time for some bargains!  Asking price has declined a bit reflecting the seasonality of the market.  Call us and we will help you find your palce in paradise!
Click on Images to Enlarge

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New Construction on the Rise

Cape Cora Fl starting to see more and more new construction especailly in the SW area…if you have new construction on your mind in this beautiful part of SW Florida give us a call we can assist you finding that dream home!

http://finance.yahoo.com/news/us-homebuilder-confidence-rises-may-140130319.html;_ylt=Avu6oOV76STzPplqFAjnt06iuYdG;_ylu=X3oDMTN1c3BtOXVyBG1pdANGaW5hbmNlIEZQIE1lZ2F0cm9uIDIEcGtnAzA3ZjM5Nzg2LTU5NmItMzQxNy1iMDkyLTJkYzk0OGY4YTAxZgRwb3MDMQRzZWMDbWVnYXRyb24EdmVyAzQzMjU5MGMwLWJkNjgtMTFlMi04ZmZkLTc1YmI1ZDIwMzJmNQ–;_ylg=X3oDMTFkcW51ZGliBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3BtaA–;_ylv=3

Average Home Prices Continue to Increase

It’s supply versus demand with demand winning!  The median price for existing homes nationwide is at $192,800 an 11% increase over last year!

http://www.housingwire.com/news/2013/05/22/existing-home-sales-remain-below-underlying-demand

 

Home Buying Tips  – Negotiate Everything!

When buying a home negotiating the mortgage terms, associated fees and costs ae just as important as negotiating the asking price.  This is a great article to help prospective buyers understand that all mortgages, fees and costs are not created equal.  An informed home buyer will get the best deal!
http://money.cnn.com/2013/05/09/real_estate/homebuyers-mortgages/index.html

 

Mortgage – What Type Do I Need?

What types of mortgages are out there?  What are the differences?  Which one is best for me?  Confusing isn’t it! ?  A great tutorial on the type of mortgage you may need for your home purchase.  The flow chart in the article makes it pretty easy to see what type mortgage you need!   http://themortgagereports.com/12843/mortgage-choices-what-type-of-mortgage-should-you-get

Mortgage Quick Guide

You are in the market for a new home…guess what?  You Don’t Need a HUGE Down Payment !!  As a follow up the the article on Mortgage Choices here is a quick recap:
1.) FHA :  These loans feature a 3.5% down payment. If you are financing $150,000 that’s a  $5,250.00 Down Payment!
2.) VA and USDA : Both offer zero down payment programs. Of course, you and/or the property must qua…lify for the terms of these programs. A  great fit for some borrowers especially Veterans!
3.) Conventional : these mortgage loan programs still offer loans with as low as 5% down payment, and they’re common in today’s market.
The above are the most commonly-used programs, but there are others. Utilize a solid mortgage loan officer to help you evaluate your options and walk you through the process. If home ownership in Cape Coral or other SW Florida areas is your goal,  this year, contact us we’ll help you get to the right resource.

Cape Coral Housing Market Statistics April 29 – May 5th 2013

 

Current Residential Real Estate Market
Residential Listings (total): 1,539
Single-Family Homes: 1,269
Real Estate Activity for the Week of Apr. 29, 2013 – May 5, 2013
New Residential Listings: 137
Pending Sales: 155
Contingent (Pending Short Sales): 38
Closed Sales: 125
Listings Returned to the Market: 45
Average Price of Single-Family Homes Sold: $184,845
Total Value of Residential Real Estate Sold: $19,408,686

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