Housing Starts Up 30 Percent From Last Year

According to estimates from the U.S. Census Bureau and the Department of Housing and Urban Development, privately-owned housing starts in April were at a seasonally adjusted annual rate of 717,000. That’s 2.6 percent above March’s revised number and 29.9 percent above April 2011. Single-family housing starts were also up in April, rising 2.3 percent from the month before. And though total building permits fell after rising 4.5 percent in March, single-family authorizations were at a rate of 475,000, which is a 1.9 percent increase over March’s revised figure of 466,000. More here.

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Refinance Activity Surges 13 Percent As Rates Fall

According to the Mortgage Bankers Association’s Weekly Applications Survey, the Market Composite Index, which measures total mortgage loan application volume, was up 9.2 percent last week due to a 13.0 percent surge in the Refinance Index. The seasonally adjusted Purchase Index, however, fell 2.4 percent from the previous week. Michael Fratantoni, MBA’s vice president of research and economics, said the increase in refinance activity was due to a spike in the conventional sector and not because of rising government loan demand. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances fell to another new low, dropping to 3.96 percent from 4.01 percent the week before. More here.

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Builder Confidence Rises To Highest Level Since 2007

Builder confidence in the market for newly built, single-family homes rose five points to 29 in May, according to the National Association of Home Builders Housing Market Index. The improvement brought the index to its highest level since May 2007. Barry Rutenberg, chairman of the NAHB, said builders are reporting a pickup in sales and traffic after a pause in April. According to Rutenberg, it’s a sign that the upward trend in confidence that began earlier this year has resumed and that stabilizing prices and excellent affordability are encouraging people to purchase homes. Each of the component indexes measuring current sales, traffic, and expectations for the next six months rose in May after declining in April. More here.

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Americans View Of Economic Conditions Continues To Improve

According to a Gallup poll tracking daily economic confidence, Americans’ view of the economy is increasingly positive and is now within one point of the highest level recorded since Gallup began daily tracking of economic confidence in 2008. Nearly half of respondents to the survey, which polled 3,426 adults across all 50 states and the District of Columbia, said they feel the economy is headed in the right direction and the percentage who feel things are getting worse has fallen more than 30 percent since October 2008, at the height of the financial crisis. But, despite reaching levels equal to the highest ratings of last year, Americans’ economic confidence is still historically low when compared, for example, to levels seen in the late 1990s. More here.

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The Reasons Your Orlando Real Estate Isn’t Selling and What You Can Do about It (Part 1)

Selling Orlando Real Estate can be a daunting undertaking.

Selling Orlando Real Estate

While you may be helpless to control the state of the Orlando Real Estate market or the number of prospective buyers in your price range, here are a few ways to be proactive against some of sellers’ most common pitfalls:

Problem: Competition. Are there too much Orlando Real Estate for sale in your price range? If there are too many options open to buyers in your market, you may not see as many showings as you’d like.

What You Can Do: Unfortunately, the state of the Orlando Real Estate market in your neighborhood is pretty much beyond your control. You’ll need to think about how you can make your Orlando Real Estate a more attractive sale, either by lowering your price or providing attractive terms of sale.

Problem: Your asking price is too high. It’s stating the obvious, but if your asking price is too high, you’ll price yourself right out of a lot of potential showings. Further, even if you do manage to land a buyer at your price, his or her financing is more likely to fall through during the sale if the house will not appraise.

What You Can Do: Working with a trusted real estate agent to come up with a fair asking price is vitally important. Make sure you are educated about the Orlando Real Estate housing market you’re selling in, and price your home accordingly. Ask yourself whether you’d rather net a little less than you had hoped ? or not be able to sell at all.

Problem: Your Orlando Real Estate lacks curb appeal. The condition of your home inside and out is critically important to making a sale. If your home doesn’t show well, a potential buyer is going to head elsewhere. Most buyers are looking for a house they can move into without a ton of small repairs and cleanup.

What You Can Do: You’ve been meaning to fix that leaky faucet or repaint the fence in the front yard, so now is the time to do it! Of course, this should have been done when you decided to sell your Orlando Real Estate, but it’s never too late? De-clutter your rooms and store all personal effects. Consider investing in some new curtains, bath towels and throw rugs. To make sure that you nail that crucial curb appeal, spruce up your yard with new plantings, trim hedges and weed flowerbeds, and keep the lawn short and neat. Those minor repairs that you have been living with will add up in the eyes of a prospective buyer.

Problem: Location. Everyone’s heard that old maxim that real estate is all about “location, location, location!” But what do you do if you’re trying to sell your Orlando Real Estate on a busy street, or too close to a major highway?

What You Can Do: There are actually a few things you can do to increase your chances of a sale. If your Orlando Real Estate is on a busier street, highlight any benefits on the flip side?maybe your backyard is fenced in, your taxes are low or you can walk to a school nearby. Make sure you pay extra attention to those highlights. If you are in an area where your home is very close to a major highway, consider some type of privacy hedge or fencing. If you have older windows consider replacing them – the benefit will be two fold, you will have new windows as a selling feature and those new windows will provide a little more sound buffering inside the home. Last, consider selling at a time when the foliage is in full bloom to help naturally block sound or visual effects from nearby highway

Orlando Real Estate Tips Provided by Matthew Stamer, Broker/Owner EXiT Realty Central

At a Young age, his entrepreneurial spirit already overtook Matthew Stamer when he created his first company specializing in computer technology. It was only a few years later he realized the huge earning potential of the Real Estate industry and decided at the very young age of 18 to get his Real Estate license and pursue an Orlando Real Estate career.

Very quickly Matthew grasped the skills of sales and marketing and by his mid 20’s was selling as much as $10 million a year of Real Estate throughout Central Florida.

At approximately the age of 30, Matthew decided that he wanted to help other Realtors be successful and that his best way of accomplishing this would be to open an Orlando Real Estate firm of his own that provides Realtors with the tools they needed most to succeed; Training, Leads, Technology, & Leadership.

Almost 8 years later Matthew is running one of the top EXiT Realty brokerages in the state of Florida and has personally been ranked by Wall Street Journal as the #21 Realtor in the entire country of over 1 million Realtors. Additionally, EXiT Realty Corp ranked Matthew the #8 agent in the entire EXiT Realty organization nationwide and has the trust and confidence of over 28 major asset companies including companies Like Fannie Mae, Freddie Mac, and LPS, setting him aside as one of the premier foreclosure experts in the Central Florida Market place.

Matthew is a non-competing broker, so of the 300-400 transactions he brought in to the company last year, Matthew shared every one of the deals with another agent in the office, furthering the success of the Realtors aligned with his brokerage, EXiT Realty Central.

Matthew Stamer has proven him self as one of the most respectable names in the industry. His resume is unsurpassed and his commitment to his team of over 100 agents is a sign of pure devotion.

Exit Realty Central, Orlando Realtors are licensed, insured and required to take advanced training so they maintain a current and accurate knowledge base and can obtain the best results for you and your property. Contact us today to for more information on selling your home….407-334-1111.

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Refinancing Homeowners Maintain Or Reduce Mortgage Debt In 1st Quarter

New data from Freddie Mac finds 79 percent of homeowners who refinanced their mortgage during the first quarter of 2012 reduced or maintained their principal balance. The number of borrowers who were able to maintain about the same loan amount after refinancing was the highest in the 26 years Freddie Mac has been tracking the data. Frank Nothaft, Freddie Mac’s vice president and chief economist, said the typical borrower reduced their mortgage rate by 1.5 percent which, on a $200,000 loan, would save them nearly $3,000 over 12 months. Also, HARP loans accounted for 20 percent of Freddie Mac’s refinance fundings during the first quarter. According to Nothaft, it was the highest share of HARP loans since the inception of the government program and was largely due to recently adopted enhancements. More here.

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Mortgage Application Demand Rises As Rates Fall To New Low

According to the Mortgage Bankers Association’s Weekly Applications Survey, the Market Composite Index, which measures both refinance and purchase loan activity, rose 1.7 percent last week from the week before. The increase was due to growing demand for conventional rather than government loans. Demand in the government market was down last week but, despite the dip, the Purchase Index rose 3.4 percent and the Refinance Index increased 1.3 percent. The refinance share of all mortgage activity was 72.1 percent. The average contract interest rate for 30-year fixed-rate mortgages fell to 4.01 percent from 4.05 percent the week before. It was the lowest 30-year rate recorded in the history of the survey. More here.

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Improving Markets List Holds Steady In May

The National Association of Home Builders’ Improving Markets Index held steady at 100 in May, down from 101 in April. The number of represented states was also virtually unchanged from the month before at 35. The index determines improving housing markets based on metropolitan areas that have had at least six consecutive months of improved housing permits, employment, and home prices. In May, 17 new metros were added to the list, while 83 cities carried over from April. Barry Rutenberg, NAHB’s Chairman, said the fact that there are 100 markets across 35 states that are improving illustrates that the health of the housing market is determined by individual metropolitan areas more than national data. More here.

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Industry Insiders Say Housing Market Has Turned A Corner

Speaking at an economic conference in Washington, Shaun Donovan, secretary of the Department of Housing and Urban Development, said the housing market has turned a corner. Donovan cited sales statistics, the number of signed contracts, and the decreasing number of households falling into foreclosure as evidence that the market has made progress over the past few years. Donovan’s remarks echo the increasingly positive forecasts being released by industry insiders and market analysts. For example, Fitch Ratings’ most recent outlook says housing starts should see a 10 percent increase in 2012, with new home sales up 8.0 percent. And Capital Economics’ Paul Diggle expects housing to become a boost to economic growth in the near future. More here, here, and here.

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Government Scorecard Finds Progress In Recent Housing Data

The U.S. Department of Housing and Urban Development and the U.S. Department of the Treasury’s monthly Housing Scorecard collects key market data and tracks the administration’s recovery efforts. The April report cites progress made in home sales and mortgage delinquencies but says there is continued fragility in the housing market. Mortgage delinquencies have declined for four straight months and existing-home sales are up more than five percent from last year’s level. Home prices, while still fragile, are beginning to show signs of stabilization and, in some markets, improvement. Also, inventory is at its lowest level in years, having fallen to levels typically associated with a healthy, balanced market. More here and here.

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