FAR announces community outreach effort
“Welcome Home Week: Making Homes Affordable” will raise public awareness of homebuyer opportunities, like the federal $8K tax credit.
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$8K downpayment challenges Fla. officials
State and local housing officials are struggling to work out the details of Florida’s $8K downpayment tax credit loan program.
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Push to expand homebuyer tax credit
Push to expand homebuyer tax credit
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3 places to hunt for a mortgage
3 places to hunt for a mortgage
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Details of FHA’s $8K downpayment advance released
HUD says FHA borrowers still need at least 3.5% down, and consumers cannot tap into it until lenders flesh out the details.
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HUD: FHA buyer downpayment still on track
HUD: FHA buyer downpayment still on track
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Watch for legal traps with distressed sales
Watch for legal traps with distressed sales. Short sales and REOs can grow a business today, but tread slowly: Some tasks could expose you to legal liability.
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5 ways to increase Web traffic
5 ways to increase Web traffic - As the Internet matures, a cutting-edge Web site is critical to business success.
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Federal program to help first-time buyers use tax credit for downpayment
First-time homebuyers will soon have another option if they want to use their $8,000 tax credit toward a downpayment. According to HUD Secretary Shaun Donovan, FHA-approved lenders will soon be able to issue a short-term bridge loan equal to the tax credit. Buyers will then pay back the bridge loan after receiving their tax refund. Donovan hopes to have the details available within a few days.
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Home-value insurance may be the push buyers need
With the fear of declining residential values keeping many would-be homeowners from entering the market, Move Inc. Chairman Joe Hanauer believes he has come up with a solution to get buyers off the fence: insurance that pays if the value of a home goes down.
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First-time homebuyers must close by Nov. 30 – contract not enough
If first-time homebuyers wait until November to sign a sales contract, it’s probably too late to get the $8,000 tax credit. To qualify, buyers must close before Dec. 1 – a signed contract is not enough. New construction should be started by mid-summer to qualify.
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Not my listing? Not my problem
Not my listing? Not my problem
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Tread carefully when making a low-ball offer
Tread carefully when making a low-ball offer
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Online Realtor ratings continue to grow
WASHINGTON – March 30, 2009 –
Do clients like you? And do they say so online?
Experts say that today’s consumers place more value on the opinions of other consumers; and Web sites that allow consumers to rate real estate agents are gaining popularity thanks to a weak economy and shift to a transparent online experience.
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MORTGAGE GUARANTEE
A number of companies, including Keller Williams Realty in South Florida, are offering to cover mortgage payments for borrowers for six months in the event of a job loss.
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PSYCH ‘EM OUT
Environmental psychologist Toby Israel, author of a new book, “Some Place Like Home: Using Design Psychology to Create Ideal Place,” says people’s childhood homes have a profound effect on what kinds of homes they like best.
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Survey says Americans still eager to buy
WASHINGTON – March 24, 2009 – Nearly 25 percent of adults say they plan to purchase a home in the next five years and half of those (53.5 percent) will be first-time homebuyers, according to a survey commissioned by Move Inc., operator of Realtor.com.
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First-time homebuyers: How to get the $8,000 tax credit
WASHINGTON – Feb. 17, 2009 – How does a first-time homebuyer take advantage of the $8,000 tax credit that President Obama is expected to sign into law tomorrow? It comes with a few rules. According to the most recent analysis, the following rules will apply – though things could change as tax professionals weigh the details:
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RIGHT TOOLS, RIGHT NOW, RIGHT PRICE
NAR rolled out a “Right Tools, Right Now” program yesterday to help Realtors excel during today’s challenging economic times. The association took many of its existing fee-based tools, put them in a single location, and offers them for free, at cost, or at significantly reduced pricing.
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CREDIT WHERE CREDIT IS DUE
First-time homebuyers have exactly 285 days to buy a home if they want to pocket $8,000 tax-free. It’s not long.
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Builders offer delayed payments, low rates, layoff insurance
MIAMI – Feb. 10, 2009 – Some of the biggest home builders in the country are offering perks that go beyond upgrades, vacations and paid closing costs. These incentives could further burden their cash flow, but they are pulling out all the stops to close sales at a time when competition with discounted foreclosures is fierce and many consumers have lost their jobs.
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Can you still buy without a fixed mortgage?
ORLANDO, Fla. – Feb. 9, 2009 – Buying a house doesn’t necessarily require getting a 30-year, fixed-rate mortgage. More and more people are exploring alternative financing plans as it gets harder to get a conventional bank loan.
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NAR Home Buyer & Seller Survey: Rise in first-time buyers, long-term plans
ORLANDO, Fla. – Nov. 10, 2008 – The National Association of Realtors® (NAR) released its latest consumer survey of home buyers and sellers. A key finding: First-time buyers have risen in market share, and they plan to own their homes longer than buyers in the past. The study was released during NAR’s 2008 Realtors Conference & Expo.
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LAYAWAY PROGRAM
Homebuyers who have trouble saving for a downpayment now have another option – homebuyer layaway plans. With the demise of seller-funded downpayment assistance programs, residential builders are considering other options, and many are rolling out downpayment layaway plans.
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Homebuyers say they’re still waiting
ORLANDO, Fla. – Oct. 10, 2008 – Market uncertainty is scaring away people who don’t own a home, particularly those who are in the 18-34 age group previously most likely to buy, says online real estate service Trulia.
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LEASE-TO-BUY IS BACK
More and more people struggling to obtain financing for a home purchase are finding a viable option in lease-to-buy agreements, which enable renters to rent a property with the option to purchase the residence at the end of the lease term. In particular, buyers with poor credit find that this approach gives them an opportunity to improve their credit while moving toward homeownership; and sellers find that once-vacant properties now offer a stable cash flow.
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Autumn is a great time to buy
ORLANDO, Fla. – Sept. 10, 2008 – This fall could be a particularly great time for first-time buyers or those who have been out of the market for at least three years to jump in, say a variety of real estate professionals.
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Rent-to-own gaining favor once again
ORLANDO, Fla. – Sept. 5, 2008 – Rent-to-own options are becoming popular again after falling out of favor during the last couple of decades when mortgages were easy to get.
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More unmarried couples buying homes
WASHINGTON – Aug. 13, 2008 – Unmarried couples made up 7 percent of homebuyers last year, according to the National Association of Realtors® (NAR), making up the second-fastest growing buyer segment.
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DON’T BE YELLOW
Many real estate agents refuse to refer a particular contractor or inspector due to a fear of litigation; instead, they simply let clients know where to find these professionals in the Yellow Pages. However, realty experts point out that agents aren’t immune from litigation by providing Yellow Pages listings.
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Some homeowners opt to ‘buy and bail’
NEW YORK – June 17, 2008 – Some borrowers struggling to pay their mortgage and dealing with big drops in property values are avoiding their problems by committing what some call fraud – and others call smart.
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5 NEW RULES FOR HOMEBUYERS
Surviving and thriving in the real estate market these days means following a whole new set of rules. Explaining the following five items to your customers to help win friends and sales:
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NAR considers new short-sale disclosure rules
WASHINGTON – April 25, 2008 – When the National Association of Realtors®’ Multiple Listing Issues & Policies Committee meets in May, members will discuss a standard definition of “short sale.” The discussion stems from disagreements within the industry with regard to when properties can be labeled as short sales, and how to disclose them in the Multiple Listing Service.
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SHORT SALES COME UP SHORT
Realtors across the country believe mortgage lenders make the housing downturn worse by taking months to make decisions on short sales and sticking to high internal target prices. As a result, more home buyers avoid short sale properties, forcing foreclosure sales that typically result in lenders accepting lower prices than they could have achieved in the short sale.
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Economy slows Florida population growth to lowest level in 30 years
GAINESVILLE, Fla. — March 28, 2008 – Migration will continue to fuel Florida’s growth over the next two years, with University of Florida (UF) economists projecting about 575 people moving into the state each day. The growth rate has slowed, however. Between 2002 and 2006, however, the state was a daily in-migration rate of 1,145 people.
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Florida dominates Forbes list of cleanest cities
Miami – March 25, 2008 – The Sunshine State took four of the top-10 metro slots on the Forbes.com 2008 list of “America’s Cleanest Cities.” According to the magazine, clean water and air result from assertive steps by Florida’s cities as well as “the built-in advantage of weather patterns that blow out smog.”
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A rising mortgage rate could nullify future price drops
ORLANDO, Fla. – March 3, 2008 – Too many buyers are focusing on home prices and waiting to jump into the market, afraid that a property bought today will be worth less tomorrow. But rising mortgage rates should also be a concern, and many potential buyers could find themselves out of luck if they wait much longer.
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Realtors prepare for upcoming real estate boom
ORLANDO, Fla. – Feb. 25, 2008 – Real estate is cyclical, and many Realtors who take a long view of the market consider a slow time the breather they need to prepare for the next boom market. If they have extra time, they spend it developing a niche, getting educated, cultivating referrals and adding new dimensions to their business.
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How to tell if a listing is overpriced
ORLANDO, Fla. – Feb. 7, 2009 – Real estate associates can use several strategies to determine whether a home is priced realistically and to provide proof to sellers that a price cut may be in order.
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FAR promotes why it’s a ‘Great Time to Buy Florida’
ORLANDO, Fla. – Jan. 28, 2008 – To help spread the word that now is the time to buy Florida real estate, the Florida Association of Realtors (FAR) last week released a series of five articles focusing on the advantages the state’s residential real estate market currently offers to buyers. The releases were distributed to media outlets throughout the Sunshine State, along with national and international media as well.
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It’s a ‘Great Time To Buy Florida’ real estate
ORLANDO, Fla. – Jan. 21, 2008 – How would you like your real estate news today? Sunny-side up?
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RENT OR BUY?
RENT OR BUY?
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REO NICHE GROWS
Rising foreclosure rates are prompting more sales associates to enter the real estate owned (REO) niche as a way to remain profitable during the housing slump. Not only are real estate associates getting in on the action, but the niche has also attracted title lawyers, cleaning specialists, appraisers and technology firms that offer property-tracking tools to lenders.
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BAND TOGETHER TO SAVE MONEY
A growing number of real estate associates form teams to help them ride out the housing downturn.
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FINDING MONEY FOR A DOWNPAYMENT
Buyers without a 20 percent downpayment are finding it harder and harder to buy a home. Possible fund sources include:
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NEGOTIATE LIKE A NINJA
Becoming a black belt negotiator requires a meld of mind and practice, Michael D. Lee, CRS, GRI, said at the 2007 Realtors Conference & Expo in Las Vegas. Lee, author of “Black Belt Negotiating,” says he keeps his skills sharp by negotiating everything from the cost of dry cleaning his shirts to the price of a suit at Nordstrom’s.
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NAR survey: Americans believe buying a home still a good financial decision
LAS VEGAS – Nov. 16, 2007 – Americans remain convinced that buying a home is a good long-term investment – just one of the findings from the 2007 National Housing Pulse Survey, released during the National Association of Realtors® (NAR) annual Conference & Expo.
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CROSS-TRAINING NETS EXPERIENCE
Home buyers and sellers often want Realtors to offer more than real estate knowledge. With that in mind, Arizona’s Sandra Wilken Luxury Properties has assembled a team whose members are experienced in law, investment portfolio management, banking, sales, marketing, architecture and other professions.
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6 common housing problems that spook buyers
ORLANDO, Fla. – Oct. 24, 2007 – Potential homebuyers with lots of homes to choose from can be easily spooked by disclosures and the results of property inspections – even when the shortcomings are typical for homes of a certain age.
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Homebuyers confused by market reports
ORLANDO, Fla. – Oct. 15, 2007 – Are potential buyers worried about real estate or just overwhelmingly confused? Last week, two studies came out. One put Orlando in the top 10 nationwide for a great time to buy, while the second listed Orlando-Kissimmee as one of 11 nationwide markets with a greater than a 50/50 risk for price declines. |
© 2009 Florida Realtors®