Windermere Mansion Short Sale

Oct 20, 2012

Windermere Mansion Short Sale

Nice Pool and Grounds – Windermere Short Sale

October’s Featured Property is a Windermere Mansion listed for Short Sale.  This 7000 square feet 4 bedroom 4 1/2 baths home is located in the prestigious gated community – Reserve At Lake Butler Sound.  Listed for $2.400 million View More Photos , Virtual Tour or schedule a Private Showing 

As Florida’s real estate market start showing signs of recovery sale prices of short sales and foreclosures are getting higher. But if you are you looking for that “one of a kind” high-end luxury home in Florida!  Short Sales and Foreclosures are still worthwhile options.




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Oct 17, 2012

Find Florida Foreclosures First

Florida Foreclosures are declining! We have been seeing decrease in Foreclosure inventories month after month and based on the current news, the Foreclosure inventories will continue to decline.

“Homesforsalebyownersdirect.com” has been collecting Florida Foreclosure data over the past 6 years… and concludes that it is indeed clear that the Foreclosure rate in Florida is declining!  

The good news! There is still time for you to save thousands of dollars buying a Florida Foreclosure.

“Homesforsalebyownerdirect.com” is a Florida based company delivering the timeliest and most accurate Florida Foreclosure Data.

If you are buying a Florida home there is still big savings in buying a Foreclosure.

Learn more about how we can help you find and buy your Florida Foreclosure, by submitting a request for our free foreclosure package below.

Tell us a little about your needs and we will send you fast accurate data on properties meeting your requirement.

Find Florida Foreclosures First

 

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Oct 15, 2012

Orlando Homes Real Estate Report

Median sale price of Orlando Homes increased by 3.91 percent to $125,000 in September 2012 compared to August 2012 median price of $120,300. The median price has now posted positive year-to-year gains for 14 consecutive months.

The median price foreclosures increased in September by 4.32 percent, short sales by 1.01 percent and normal sales by 6.67 percent.

The percentage of foreclosures and short sales  on the market were both down, coupled with the decline in inventory indicates a continued increase in median sale prices. The number of existing homes available for purchase in Orlando is continuing a steady decline that began back in July 2010 at 16,563 and now rests at 8,073. In September 2012, inventory was 18.71 percent less than it was in September 2011.

The inventory of single-family homes is down by 22.86 percent when compared to September of 2011, while condo inventory has increased by 9.82 percent.

The month-of-supply increased in September when compared to last month: Current inventory combined with the current pace of sales equates to a 3.58-month supply of homes in Orlando.

First-time buyers who earn median incomes of $37,158 can qualify to purchase one of the 3,393 homes in Orange and Seminole counties currently listed in the local multiple listing service priced at or below $189,680.

Information is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment if necessary to record those closings posted after our reporting date. Statistics released each month may be revised in the future as new data is received.

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Oct 9, 2012

HUD Clampdown on Delinquent Tax Debtors

The Federal Housing Administration (FHA) appears ready to institute a policy that would require lenders to identify delinquent tax debtors before endorsing loans requiring FHA mortgage insurance.

The U.S. Government Accountability Office (GAO) found that many first time home buyers with delinquent tax debts had been granted loans with FHA insurance in violation of FHA policy. Federal policy makes delinquent tax debtors ineligible for FHA mortgage insurance unless they repay the debt or are in a valid repayment agreement with the IRS.

The GAO made two policy recommendations:

  1. New requirements for lenders to collect IRS documentation for identifying unpaid federal tax
  2. Clarification of the requirement that lenders investigate indications of tax debt.

HUD/FHA has agreed with the recommendations.

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By OD Blogger Loans, Mortgage, Real Estate No comments

Oct 6, 2012

Florida Supreme Court Rules on Non-Residents Homestead Exemption

The Florida Supreme Court ruled with an unanimous vote that a Honduran couple living in Key Biscayne with their children is entitled to homestead exemption.

The state’s highest court rejected arguments from attorneys representing Miami-Dade County Property Appraiser Pedro Garcia, whose office denied homestead exemption to the couple in 2006. The appraiser said that the couple didn’t adequately show that they actually live in the Key Biscayne condo full time as permanent residents.

The court, overruling the appraiser, said that the state constitution also allows homeowners in Florida to claim homestead exemption if another person legally or naturally dependent on the owner lives there permanently.  The court found there was no question that the couples children who were born in the United States and had no other apparent residency lived in the home permanently.  

The court also found that the state homestead exemption statute has an invalid phrase limiting homestead exemption to anyone who resides thereon referring to the property. Similar language was removed from the Constitution in 1968 invalidating the requirement that homeowners actually reside on the property, as long as they have a dependent that does.

The case may have broader implications. Thanks to this ruling from the Florida Supreme Court, International and out of state property owners may be able to claim Florida homestead exemption.  Many Internationals and out-of-state Florida homeowners have children attending Florida schools, both public and private who may have claim to U.S. citizenship.

In its ruling, the court stressed that each case must be decided on its own merit and the burden was on the property owner to provide. The court wrote, we emphasize that the result we reach in this case is dependent on the fact that it was demonstrated that the property is being used as the permanent residence of the owners’ dependent, minor children, and the evidence establishes that.

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Oct 4, 2012

Florida Community Development Districts (CDDs)

There are over 600 Community Development Districts (CDDs) in the State of Florida. They have issued over $6.5 billion in municipal bonds to finance infrastructure and community development.  How much do home owners really know about their CDDs? What are they and how do they affect the cost of owning a home?

What are CDDs?

CDDs are special-purpose governmental units authorized by Florida law to operating as independent taxing districts.  Their primary function is to issue tax exempt bonds and spend the proceeds on financing the construction and maintenance of community or subdivision infrastructure or improvements. CDD funds pay for building utilities, sewer, roads, schools, conservation areas, streetlights, as well as many community amenities such as parks, club houses, swimming pools, tennis courts, trails, security gates and more. CDDs are able to borrow funds at low tax exempt interest rates the same as cities and counties. Contracts for goods and services are subjected to publicly advertise competitive bidding. CDDs are meant to provide a solution to Florida’s need for community infrastructure generated by its rapid growth, without overburdening the taxpaying residents. They are considered a major advancement in Florida’s effort to manage its growth effectively and efficiently.  

How do they affect the cost of owning a home?

Community Development Districts (CDDs) are responsible for assessing annual fees for operation and maintenance of all the common areas and the amenities they own. CDDs may impose and levy taxes or assessments or both on properties within their districts. These taxes and/or assessments are in addition to county and other local governmental taxes and assessments including all other taxes and assessments provided for by law.  The districts may issue long term or short term special assessment bonds. The short term bonds are paid off by homebuilders and are not assessed to the homeowner. The long term bonds are re-paid from a portion of the district taxes based on the value of real estate or personal property, (non ad valorem taxes) homeowner’s are assessed on their annual tax bills.  The long term debt is a fixed amount and may be paid off at any time by the homeowner. The property will continue to be subjected to the annual operating and maintenance assessment for maintenance of the common improvements provided by the CDDs.

When you buy a home or condo in a subdivision or planned unit development (PUD) in Florida, you automatically become a member of the Home Owners Association (HOA).  Some communities have both HOA and CDD fees. A growing number of homeowners buying in CDD areas are saying they were not adequately informed about the fees. Florida law does not require sellers of homes in CDD areas to voluntarily inform homebuyers how much they have to pay the CDDs or that they can lose their homes if they do not pay the CDD.

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Oct 2, 2012

Warren Sapp Florida Mansion Scheduled For Bankruptcy Auction

Warren Sapp Magnificent Lakefront Estate Home located in prestigious Lake Butler Sound in Windermere Florida, is scheduled for Bankruptcy Auction November 1st 2012.  Bidders must Pre-Register prior to Auction. Property tours are by appointment only to schedule a tour Call 800 699 4841 or click

GET MORE INFORMATION

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