exitrealtyorlando.com

Half Empty?

Exit Realty Central — Fri, 16 Jul 2010 14:58:43 +0000

“One thing I can’t reconcile is that in most markets, a quarter or a third of the business is still done by tiny little companies that haven’t innovated in years, and don’t offer anything but the relationship (with buyers and sellers).” –Greg Rand

Greg makes a valid point but he fails to recognize the failure of relationships. Real estate is progressing with technology almost on an hourly basis. Some consumers feel more comfortable with agents they actually know versus picking up the agent thru the Internet. Both approaches will be used by the the serious and productive real estate companies. The present and the future embraces both and by doing so will leave very little in marketing to all generations.

If you are interested in searching for homes in the Central Florida market, please click here www.ExitRealtyOrlando.com

Bill Calhoon

Sales Manager

FORECLOSURE DIRECTOR

Exit Realty Central

Market Statistics

Exit Realty Central — Mon, 12 Jul 2010 15:16:37 +0000

Pace of Orlando home sales remains strong in June

(July 12, 2010 – Orlando, FL) Strong homebuyer demand continued in June, elevating the level of home sales and increasing the area’s month-over-month median sales price for the sixth consecutive month. Members of the Orlando Regional REALTOR® Association reported completed sales on 2,834 homes in June, which is a 27.66 percent increase over the June 2009 mark of 2,220.

The number of new contracts filed in June 2010 (3,736) represents an increase of 1.36 percent more than were filed in June 2009 (3,686). The area’s pending sales statistic — also an indicator of future sales activity – is likewise remaining at a record high with 33.13 percent more homes (9,625) under contract and awaiting closing in June of this year than in June of last year (7,230).

And finally, the median price of all existing homes combined sold in June 2010 increased 0.87 percent to $116,000 from the $115,000 recorded in May 2010. June 2010’s median price is, however, a decrease of 11.57 percent compared to June 2009’s median of $131,175.

If you are interested in searching for homes in the Central Florida market, please click here www.ExitRealtyOrlando.com

Bill Calhoon

Sales Manager

FORECLOSURE DIRECTOR

EXIT Realty Central

Who said Foreclosures are ending?

Exit Realty Central — Thu, 10 Jun 2010 13:50:40 +0000

So the “foreclosure rate” that is reported is really not accurate? :

“The national foreclosure rate continued to fall in May from the previous month, according to a new report released Thursday.

However, bank repossessions reached a record high during the same month, a sign that lenders are focusing on their backlog of foreclosure inventory before tackling new distressed loans, according to foreclosure database website RealtyTrac, which released the report.

“What it looks like is that the lenders are focusing on processing the delinquent loans they already have rather than initiating new foreclosures,” said Rick Sharga, senior vice president of RealtyTrac. “They’re managing inventory to prevent a free fall in home prices.”

So far this year, the U.S. foreclosure rate has been falling slightly on a month-to-month basis. And in April, RealtyTrac reported a year-over-year decline in the foreclosure rate for the first since the firm began reporting data in 2005. RealtyTrac still projects that over 3 million homes will receive a foreclosure notice over the course of this year, said Sharga.

The ten states with the highest foreclosure rates were little changed from the previous month. According to the RealtyTrac report, Nevada remains No. 1 with one in every 79 properties in the state getting a foreclosure notice, five times the national rate.

Arizona ranked second with one in every 169 households receiving a notice, followed by Florida (one in 174 households), California (one in 186 households) and Michigan (one in every 223 households.)

If you would like to read the entire article, select the following link:

http://www.cnbc.com/id/37599834

If you are interested in searching for homes in the Central Florida market, please click here www.ExitRealtyOrlando.com

Matthew Stamer

Exit Realty Central

Broker / Owner

Program Will Pay Homeowners to Sell at a Loss/Pays you to sell at a loss- New Obama Program - takes effect April 5th

Exit Realty Central — Thu, 11 Mar 2010 14:04:19 +0000

In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave.

This latest program, which will allow owners to sell for less than they owe and will give them a little cash to speed them on their way, is one of the administration’s most aggressive attempts to grapple with a problem that has defied solutions.

More than five million households are behind on their mortgages and risk foreclosure. The government’s $75 billion mortgage modification plan has helped only a small slice of them. Consumer advocates, economists and even some banking industry representatives say much more needs to be done.

For the administration, there is also the concern that millions of foreclosures could delay or even reverse the economy’s tentative recovery — the last thing it wants in an election year.

Taking effect on April 5, the program could encourage hundreds of thousands of delinquent borrowers who have not been rescued by the loan modification program to shed their houses through a process known as a short sale, in which property is sold for less than the balance of the mortgage. Lenders will be compelled to accept that arrangement, forgiving the difference between the market price of the property and what they are owed.

See the link below for the full story from the New York Times.

http://www.nytimes.com/2010/03/08/business/08short.html

Matthew Stamer

Broker/Owner

Exit Realty Central

Congratulations Exit Realty Central

Exit Realty Central — Mon, 08 Feb 2010 14:13:18 +0000

“Congratulations to our Exit Realty Central Agents. Today you were recognized by corporate for being the number one Exit brokerage in Florida. Combined, for the first time you broke over 104 million in sales in one year. Our agents are considered experts and leaders in our industry! This is truly and amazing accomplishment. I personally Thank you as your Broker and Friend.” -Matthew Stamer

Exit Realty Central Office winning 1st place for 2009 the following awards in Listings Taken, Sales Volume and Transactions Closed.

Congrats to our Foreclosure Team winning 1st place for 2009 the following Team Awards in Listings Taken, Sales Volume, and Gross Commission Closed.

Broker/Owner of Exit Realty Central who is ranked in the Top 10 Agents out of ALL 8,000 Central Florida Agents!

Sales Jump in 2009

Exit Realty Central — Fri, 08 Jan 2010 21:30:47 +0000

Exit Realty Central closed 997 listing and selling sides in 2009 with a average selling price of $114,000.00.

In 2008 Exit Realty Central closed 364 sides with and average selling price of $187,000.00.

This is a 274% increase in sides closed from 2008 to 2009, and a decrease in the average selling price 39% for the year, or 3.2%/month.

The lower prices and the first time homebuyers credit are responsible for the majority of the increased sales.

If you are interested in searching for homes in the Central Florida market, please click here www.ExitRealtyOrlando.com

Bill Calhoon

2008 EXIT REALTY FLORIDA

SALES MANAGER OF THE YEAR

Exit Realty Central

Revised IRS Guidelines for the new tax credit

Exit Realty Central — Tue, 08 Dec 2009 13:50:34 +0000

IRS Sets New Rules for Tax Credit
The IRS has spelled out guidelines for eligibility for the home buyer credit when co-borrowers purchase a property.

When a home-owning parent of an adult child co-signs for a mortgage and both names appear on the note, the IRS says that under some circumstances, the first-time home buyer can qualify for the whole amount.

The IRS says the parent doesn’t qualify for any portion of the credit, but if the child hasn’t owned a home during the three years preceding the current purchase and can qualify based on income, he or she can be allocated the entire $8,000 credit.

When unmarried individuals co-purchase a home and only one of them is eligible for the credit, then the full $8,000 can be allocated to the eligible buyer.

Source: Washington Post Writers Group, Kenneth R. Harney (12/04/2009)

Bill Calhoon

2008 EXIT REALTY FLORIDA

SALES MANAGER OF THE YEAR

EXIT Realty Central

Orlando Sales Continue to INCREASE.

Exit Realty Central — Tue, 10 Nov 2009 22:10:49 +0000

The Orlando Regional Realtor Association today released results for October 2009 in the Metropolitan Service Area which includes Orange, Seminole, Lake Osceola and West Volusia counties.

Units closed in October 2009 were 2206 vs. 2292 in September of 2009, a 3.8% decrease in month to month sales. The 2206 units sold in October of 2009 vs. 1128 units sold in October of 2008, are a 79.6% increase in year to year sales!

The average selling price in October 2009 was $161,000 vs. $154,398 in September 2009 a 4.3% increase month to month. The average selling price in October of 2008 was $220,223 a 31.9% year to year decrease.

The median selling price in October of 2009 was $130,000 vs. $125,000 in September of 2009, a 4.3% increase. The median selling price in October of 2008 was $175,650 a 26% decrease in year to year sales.

We are now just over a seven month period of inventory, and prices appear to be firming and increasing in single family homes especially. Since it appears likely that the $8000.00 tax credit for first time homebuyers will be extended to April of 2009, and the tax credit has been expanded to include existing homeowners who have lived in their primary residence for 5 of the past 8 years, real estate in the Central Florida area is poised to continue to increase.

If you are interested in searching for homes in the Central Florida market, please click here www.ExitRealtyOrlando.com

Bill Calhoon

Sales Manager

Exit Realty Central

Obama Signed Legislation

Exit Realty Central — Fri, 06 Nov 2009 20:59:31 +0000

With the nation’s unemployment rate busting through the 10% mark in October, President Obama on Friday signed legislation extending the $8,000 first-time homebuyer tax credit and giving additional tax breaks to certain homeowners trading up. Passed overwhelmingly by Congress, the bill would provide a $6,500 tax credit to homeowners who are buying a new primary residence beginning Dec. 1. The language mandates that to get the credit the homeowner must have owned their home for five consecutive years of the previous eight. But there are caps on the tax credits. They only apply to individual buyers who make no more than $125,000 and $250,000 for couples. There is also an anti-flipping provision: Any homeowner who collects the credit and sells within three years must return the money. The FTHB was extended to cover consumers signing a contract by April 30 and closing by June 30. Meanwhile, the Department of Labor reported Friday that the nation’s unemployment rate rose above 10% for the first time since 1983 in October, a much worse jump than expected. The increase in joblessness will lead to an upswing in residential mortgage delinquencies. In October the unemployment rate spiked to 10.2%, compared to 9.8% in September. Economists had forecast an increase to 9.9%.

If you are interested in searching for homes in the Central Florida market, please click here www.ExitRealtyOrlando.com

Tony Nunziata

Extended Tax Credit…

Exit Realty Central — Thu, 05 Nov 2009 22:06:51 +0000

Great news! The tax credit has been passed by the Senate and the house of representatives and is headed towards the President’s desk and he will sign it soon.

This bill extends the credit until April of 2010, and in addition homeowners who have lived in their homes for five of the past eight years are eligible for up to $6500.00.

You can view (and print) a one-page PDF document that outlines the final provisions using this link:

http://www.realtor.org/fedistrk.nsf/files/government_affairs_tax_credit_ext_chart_110409.pdf/$FILE/government_affairs_tax_credit_ext_chart_110409.pdf

If you are interested in searching for homes in the Central Florida market, please click here www.ExitRealtyOrlando.com

Bill Calhoon

2008 EXIT REALTY FLORIDA

SALES MANAGER OF THE YEAR

EXIT Realty Central