Baldwin Park, Orlando - Announcing a price reduction on 201-2120 Meeting Place, a 1,801 sq. ft., 2 bath, 3 bdrm single story "Living Space On One Level". Now 
MLS® $249,900 - Huge Price Reduction.
OPEN HOUSE, Saturday Nov. 21, 12 pm- 4 pm. All welcome
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Rare Find in Hammock Pointe2
• 2,142 sq. ft., 3 bath, 3 bdrm 2 story "Cathedral Ceilings" - MLS® $265,000 - Owner Motivated
Hammock Pointe, St. Cloud - Not a short sale or foreclosure. Quick closing and immediate occupancy available. 3 bedroom w/bonus room for den, 4th bedroom, or kids' retreat. Impressive entrance into foyer w/cathedral ceilings, fireplace and amazing 2 story windows to bring in natural light. Newly painted, wood floors, intercom system with multi-room sound, screened in porch. Located minutes from the new Medical City/Lake Nona and offers the small community feel. Home is nestled behind 100 year grandfather oaks and is full of charm. This is NOT your cookie cutter home on a "postage stamp" lot. Biking distance to A-rated Narcoossee elementary and middle schools.
OPEN HOUSE 11/14/09 8:30 am - 11 am during community garage sale event. All welcome!
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Housing Market Indicators:
Florida existing home sales:
(month-to-previous-year comparison)
Florida existing condo sales:
(month-to-previous-year comparison)
Florida existing home median price:
Florida existing condo median price:
Florida consumer confidence:
National existing home sales:
(month-to-previous-month comparison; all housing types)
National existing home median price
National (Freddie Mac) mortgage rate
(all housing types)
ORLANDO, Fla. – Oct. 23, 2009 – Florida’s existing home sales rose in September, which marks more than a year (13 months) that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®. September’s statewide sales also increased over sales activity in August in both the existing home and existing condominium markets.
Existing home sales rose 34 percent last month with a total of 14,419 homes sold statewide compared to 10,778 homes sold in September 2008, according to Florida Realtors. Statewide existing home sales last month increased 4.1 percent over statewide sales activity in August.
Florida Realtors also reported a 77 percent increase in statewide sales of existing condos in September compared to the previous year’s sales figure; statewide existing condo sales last month rose 8.9 percent over the total units sold in August.
All of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales in September; all but one MSA also showed a gain in condo sales. A majority of the state’s MSAs have reported increased sales for 15 consecutive months.
Florida’s median sales price for existing homes last month was $142,000; a year ago, it was $174,900 for a 19 percent decrease. Housing industry analysts with the National Association of Realtors® (NAR) note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. The median is the midpoint; half the homes sold for more, half for less.
The national median sales price for existing single-family homes in August 2009 was $177,500, down 12.1 percent from a year earlier, according to NAR. In Massachusetts, the statewide median resales price was $315,000 in August; in California, it was $292,960; in Maryland, it was $265,862; and in New York, it was $205,000.
NAR’s latest industry outlook notes positive signs in the housing sector, but adds that extension of the federal first-time homebuyer tax credit would help sustain a fragile recovery. “Now that the market is showing some momentum, we have an opportunity to achieve a more rapid and broader stabilization in home prices,” said NAR Chief Economist Lawrence Yun. The outlook for home sales and prices depends on whether the tax credit is extended, he said, describing it as “the best tool in our arsenal to encourage financially qualified buyers to stimulate the economy and help reduce the budget deficit.”
In Florida’s year-to-year comparison for condos, 5,088 units sold statewide last month compared to 2,870 units in September 2008 for a 77 percent increase. The statewide existing condo median sales price last month was $102,500; in September 2008 it was $153,500 for a 33 percent decrease. The national median existing condo price was $179,300 in August 2009, according to NAR.
Interest rates for a 30-year fixed-rate mortgage averaged 5.06 percent last month, a significant drop from the average rate of 6.04 percent in September 2008, according to Freddie Mac. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
Among the state’s smaller markets, the Pensacola MSA reported a total of 275 homes sold in September compared to 267 homes a year earlier for a 3 percent increase. The market’s existing home median sales price last month was $135,000; a year ago it was $146,900 for an 8 percent decrease. A total of 48 condos sold in the MSA in September, up 41 percent over the 34 units sold in September 2008. The existing condo median price last month was $190,000; a year earlier, it was $180,000 for a 6 percent gain.
© 2009 Florida Realtors®
Tax Credit for Homebuyers
First-Time Homebuyers (FTHBs): First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000.
Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.
Current Owners: The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.
What are the New Deadlines?
In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.
Tax Credit Versus Tax Deduction
It’s important to remember that the tax credit is just that… a tax credit. The benefit of a tax credit is that it’s a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a first-time homebuyer were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.
Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000!
Higher Income Caps
The amount of income someone can earn and qualify for the full amount of the credit has been increased.
Single tax filers who earn up to $125,000 are eligible for the total credit amount.. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible
Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.
Maximum Purchase Price
Qualifying buyers may purchase a property with a maximum sale price of $800,000.
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Remember, the new tax credit program includes a number of details and qualifications. For more information or answers to specific questions, please call or email me today.
In addition, you may be able to benefit from additional housing related provisions, including the following:
FIND AN AGENT THAT SPECIALIZES IN FIRST-TIME HOMEBUYERS
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Tax Incentives to Spur Energy Savings and Green Jobs
This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.
Landmark Energy Savings
This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.
Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing
This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs. Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section 8) to increase energy efficiency, including new insulation, windows, and frames.
Expanding Housing Assistance
This provision increases support for several critical housing programs. It includes $2 Billion for the Neighborhood Stabilization Program to help communities purchase and rehabilitate foreclosed, vacant properties.
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East Lake Reserve at Narcoossee, St. Cloud - We invite everyone to visit our open house at 123 Lena Ann on November 7 from 8:30 AM to 11:00 AM. There is also a community garage sale here along with Lake Pointe, Mill Stream, Lake Ajay, and East Park Cove. 4 bedroom, 3 bath pool home located on a 1/4 acre lot. Gourmet kitchen and huge master suite. Come view this gorgeous home.
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Rare 3 bedroom condo with 1800 livg area
• 1,801 sq. ft., 2 bath, 3 bdrm single story "Living Space On One Level" - 
MLS® $285,000 - Bring Your Offers
Baldwin Park, Orlando - Short sale. Here is your chance to own an amazing condo in Baldwin Park. 3-bedroom, 2-bath unit with wood floors, granite countertops, designer paint, upgraded tile in master, and wrap-around balcony. Bring your pickiest buyer as this property shows like a model.
OPEN HOUSE November 21st!
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$8,000 home credit still in play
Negotiations about whether and how to extend and expand the tax credit for homebuyers are moving quickly. Here are the latest developments.
NEW YORK (CNNMoney.com) -- Confused about whether lawmakers will extend the $8,000 first-time homebuyer credit and what it would look like?
That's understandable, since the situation is still very fluid.
Here's where things stand.
Support for the credit: There is still bipartisan support in Congress for extending the credit past Nov. 30 and making it available to more homebuyers.
Some of the issues still in play: Just how far past Nov. 30, the size of credit and how many more buyers would qualify.
It's still not clear where President Obama stands on the issue. Last week, Housing Secretary Shaun Donovan said the administration wanted to review more data to better assess the cost of the credit before weighing in.
What's on the table now: There appears to be movement toward a compromise deal that falls between the most and least generous proposals that have been put forth so far.
"There is bipartisan compromise to extend the credit through spring and expand it to existing homeowners who are stepping up to a different home," financial policy analyst Jaret Seiberg wrote in a research note for Concept Capital's Research Group.
The latest idea under discussion is a credit worth up to $8,000 for first-time homebuyers and up to $6,500 for homeowners looking to trade up to a bigger primary residence and who have already lived in their current home for five years.
To qualify for the full credit, however, homebuyers must have adjusted gross income of less than $125,000 ($225,000 for married couples filing jointly).
In addition, the credit would only apply to homes sold for $800,000 or less. Contracts to buy a home must be signed by April 30, 2010, and the deals must close by June 30 in order for a buyer to qualify for the credit.
Rationale for extending the credit: Supporters of the credit say it has helped to boost existing home sales in recent months. Extending the credit would help further support sales, stabilize housing prices and generate jobs in the face of an expected rise in foreclosures next year, which is expected to put downward pressure on prices.
If the credit is allowed to expire, they say, the housing market and the broader economy will grow moribund again.
"The most fundamental argument for the credit is that nothing works in the economy if housing is falling -- it hurts household wealth and credit becomes tight," said Mark Zandi, chief economist at Moody's Economy.com. "[The credit] is a good insurance policy. It's vital to stem the housing price declines."
What critics say: Though extending the credit has bipartisan support, it is not without its critics.
Critics, while acknowledging that the credit has helped to generate additional home sales, say it has been poorly targeted and therefore not cost-effective.
They point to estimates that only 10% to 20% of the nearly 2 million homebuyers who will have gotten the credit by Nov. 30 bought solely because of the tax break.
http://money.cnn.com/2009/10/28/real_estate/homebuyer_credit/index.htm?postversion=2009102816
In other words, a large majority of homebuyers who benefited from the credit would have bought their homes without it.
By one economist's estimate, the government may have spent $43,000 for each sale that occurred strictly because of the credit.
In a position paper published this week, the liberal Center on Budget and Policy Priorities said making the credit available to existing homeowners would not help stabilize housing prices or reduce inventory.
Latest on the $8,000 tax credit
Good morning, in case you have not received this from NAR, here is the latest on the $8,000 tax credit courtesy of Linda Goold, NARs tax counsel.
The Extended and Expanded Tax Credit agreement includes the following provisions:
Amount: $8,000
Who: First-time homebuyers -- same definition as current law
Amount: $6500
Who: Repeat purchasers. Have used previous home as principal residence 5 of the 8 previous years.
Income Limits: $125,000 for single filers/$225,000 for joint filers. Same for first-time & repeat/move-up buyers
Limitation on cost purchased home: $800,000
Time Frame: December 1, 2009 to April 30, 2010 plus 60 Day extension if binding contract is in place by April 30, 2010
Anti-fraud measures have been added.
NAR will be monitoring the progress and any potential changes to the bill. NAR will send out a notice when a vote has occurred. There has not been a final vote as of yet.
We have all heard the new dirty word of home building..Chinese Drywall. Homeowners that purchased homes with this type of drywall have been devastated and their home a total loss. What is it? Where does it come from? How can you tell if you have it? Download and view this powerpoint presentation given by HomePro Inspections which will take you through the history, show pictures, and provide you with the latest information on testing.
Click Here to be directed to the powerpoint presentation on information you should know before buying a home.
Attachment(s): Updated Chinese Drywall PresenttionABC.pps
Congratulations to my wonderful client and friend E.H and B.C.
Baldwin Park beauty with all the upgrades..granite counters, upgraded tile / cabinets; wood flooring, stainless appliances, wood blinds. Interior well maintained. Front porch with pillars, 3 bedroom, 2 bath, with bonus room. Over 1800 square feet of living space! Listing agent, Lisa Gould, Gould and Company, Selling Agent, Debbie Irons, Orlando Classic Homes, www.BuyAClassicHome.com, (407) 908-2890.
I am very happy for you both as you enjoy your dream home.
If you or anyone you know is looking to buy or sell real estate in the Baldwin Park, East Orlando, Lake Nona, or Saint Cloud, Florida area, please give me a call to discuss your options. I get them closed!
Special shout out to the staff at 4C Orange County Voluntary Pre-Kindergarten Program at 3500 W Colonial Drive. I cannot thank you enough for the professionalism, organization and friendliness today as I received my daughter's certification of eligibility for VPK in 10 minutes flat. After THREE seperate trips to Osceola County VPK organization in July, I had become completely disillusioned and fed up with the whole process. Each time I made an appointment (which is NOT required at Orange County), the staff kept changing the requirements for paperwork, one person said YES, one person would say NO, which meant another appointment and another 45 minute drive on another day. The amount of inaccurate information and disorganization was ridiculous! Luckily I have a job that is flexible even though I had to work around the schedule of four little kids. It must be awful for those parents that must take off work or pay a babysitter to get this done only to be told they must come back another day. Here these parents are trying to do the RIGHT thing by signing their child up for VPK for an early education, and they most likely will be met with a difficult process. I do not like to throw anyone under the bus (no pun intended), but I sincererly hope that Osceola County makes a few improvements.
Thank you, thank you, thank you staff at 4C for exceeding my expectations and giving me the extra time to have a surprising sit down lunch!
Interested in finding out more about your county school system? Click Here.
Debbie Irons of Orlando Classic Homes just sold this amazing 1 acre, Butler Chain Of Lakes Waterfront Property in Windermere.
Looking for " a deal" on the Butler Chain of lakes? Here it is! One of the lowest priced homes on the chain, found in exclusive Marina Bay...This is the one you will be kicking yourself over if you miss this one...Big manicured, 1 acre lot with lush landscaping, New private dock on fabulous lake Down, and unparalleled sunrise views from your own back yard. The roof and AC is new, add to that a great block structure, new custom travertine master bath and oversized master bedroom stepping out onto a large paver lanai, and you have found the house of your dreams. Authentic terracotta floors accent the large windows overlooking sparkling lake Down, a boaters paradise. All you need to do is bring your imagination and further customize this very rare flexible single story floor plan. The lot is an absolute paradise and almost resort like, with it's sheer size and unbelievable location. Just minutes from world class shopping and dining in the heart of Downtown Windermere, with all the town amenities, including tennis courts, walking trails and so much more, this is Florida living at it's finest! Listing Agent Judy Black, Main Street Realtor, Selling Agent, Debbie Irons, Orlando Classic Homes.
Property sold for $1,000,000. Congrats to Mr RH for his beautiful new home. If you or anyone you know is looking to buy waterfront property, Contace Debbie Irons today.
Esprit, St. Cloud - Announcing a price reduction on 3859 Spirited Circle, a 2,774 sq. ft., 3 bath, 5 bdrm 2 story. Now MLS® $175,000 - DRASTICALLY REDUCED!.
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Shows Like a Model
• 3,000 sq. ft., 3 bath, 4 bdrm single story - MLS® $275,000 - Quick Closing Available
Lake Pointe, St. Cloud - Not a short sale or foreclosure. Quick closing available. This gorgeous 1-story Monterey model with over $86,000 in upgrades, has been priced to sell. Designer tile floors, 42" cabinets, crown molding, 10' sliders, expanded master suite complete with garden tub and dual entry walk-in shower. All bathrooms feature decorative tile and cabinet upgrades. All rooms are tastefully decorated. The kitchen will appeal to even the pickiest of cooks, with double ovens, gas cooktop, preparation island, large fridge, and tons of storage space. This home is set on an oversized corner lot, 3 car side entry garage, brick pavers, pillars and double door etched glass entry. You can have the peace of mind buying a home w/full sellers' disclosures, and no hassles. Easy show!!
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Congrats to MHC for purchasing this amazing home!
GORGEOUS LAKE NONA AREA GEM ON 1/5 ACRE CONSERVATION LOT! This charming home w/office is LOADED w/upgrades! Come home to a brick paved driveway & front porch! Walk-in to Brazilian cherry hardwood floor & 18" diagonal slate tile throughout! The HUGE centrally located kitchen is highlighted w/42" cherry maple cabinets, stainless steel appliances, granite counter tops, 12" ceilings, island with breakfast bar. Your spacious owner's retreat features diagonal tile, sitting room, California closets, dual separated cultural marble sinks & garden tub. Enjoy tranquil outdoor Florida leaving in your screened enclosed lanai or entertain in your beautiful courtyard off the kitchen! French doors, touches of chocolate walls, recess lighting decorative ceiling fans and light features provide the touches of elegance! This community is loaded w/amenities: playground, scenic parks, lake access, sand volleyball, basketball, and pinic areas! Have a peace of mind knowing this community is located near the Lake Nona Medical City and zoned for excellent schools & the NEW Lake Nona Middle & High School!
SOLD BY Debbie Irons, Orlando Classic Homes (407) 908-2890, www.NONALIVING.com, Debbie@NonaLiving.com
Quick Facts:
- 102% financing based on appraised value - so closing costs can be rolled in if appraised value comes in higher!
- No monthly mortgage insurance. One-time guarantee fee of 2.00%
- No First-time homebuyer requirement but cannot have interest in other property
- No maximum on seller concessions!
- Income requirements go to http://eligibility.sc.egov.usda.gov
- Property must be located in a RD eligible area http://eligibility.sc.egov.usda.gov
- No in-ground swimming pools without RD approval. (above ground permitted) - WATCH THIS ONE!
- 100% of repairs may be financed based on as-improved value. If work is not complete prior to closing an escrow hold back may be established at 150% of repair cost.
Call Chris at the mortgage firm to obtain more information. Tell her Debbie Irons sent you.
Chris Wilson
The Mortgage Firm, Inc.
921 Douglas Ave. Ste. 200
Altamonte Springs, FL 32714
www.themortgagefirm.com to apply online!
Office 407-539-3476 xt.221
Fax 407-539-2710