HELP for Struggling Home Owners?

Posted by Duke Rountree on

The HARP(Home Affordable Refinance Program) simply has not worked in helping many homeowners and President Obama is expected on Monday to announce “new policies” to help struggling homeowners, including a move that would allow borrowers to refinance their mortgage at current lower rates no matter how much their home values have dropped.

Fannie Mae and Freddie Mac are also expected to end a cap that excluded home owners from HARP who had mortgages that were higher than 125% of the homes value. This cap left many homeowners with little option because they simply do not have enough equity in their properties. The plan is expected to eliminate ” appraisals and extensive underwriting for most borrowers” whpo are up to date on their mortgages and want to refinance at lower rates.

Obama is also expected to announce a reduction in Fannie and Freddie loan fees. Lenders could start refinancing as soon as December 1st, however some may have to wait until early next year due to their loan-to-value limit.

Housing experts believe that allowing underwater home owners to refinance at current lower rates could be a savings of hundreds of dollars from their monthly mortgage bills and possibly help avoid foreclosure and free up household cash, helping spur economic growth.

Source: http://realtormag.realtor.org/daily-news/2011/10/24/obama-expected-unveil-housing-aid REALTORS.org article October 25,2011

Ocala/Marion County Events October 17-23, 2011

Posted by Duke Rountree on

Who Says This is SLOW-CALA? Look at all the fun stuff to do this week alone!

Holiday Assistance Sign Up

Today, Tuesday, Oct 18 10:00a to 3:00p
at The Salvation Army, Ocala, FL

The Salvation Army will be accepting applications for Thanksgiving and Christmas assistance Monday-Friday, October 3-21, 2011, from 10am – 3pm. For additional information and locations, call our office or visit our website.

http://www.uss.salvationarmy.org/uss/www_uss_ocala.nsf

Pumpkin Patch

Today, Tuesday, Oct 18 10:00a to 7:00p

Ocklawaha United Methodist Church’s annual Pumpkin Patch, selling Pumpkins and baked goods. Proceeds this year will go to help feed the less fortunate in the community.

https://www.facebook.com/event.php?eid=169730189770824

Terrific Three’s Storytime

Today, Tuesday, Oct 18 10:15a

A variety of picture book stories, flannel boards, action songs, and finger plays followed by an activity. Program is limited to 25 children and their caregivers.

Every Child Ready to Read: Baby and Toddler Storytime

Today, Tuesday, Oct 18 10:30a
at Freedom Public Library, Ocala, FL

Stories, music, art, and creative play for children ages 0-2 years and their grownups.

Baby Songs and Nursery Rhymes

Today, Tuesday, Oct 18 11:00a
at Dunnellon Public Library, Dunnellon, FL

Songs, rhymes, books, and more for babies and their caregivers

Family Storytime

Today, Tuesday, Oct 18 11:00a
at Forest Public Library, Ocklawaha, FL

A variety of stories, action rhymes, music and art for all ages.

Fabulous 4’s and 5’s Storytime

Today, Tuesday, Oct 18 1:15p

A variety of stories, finger plays, flannel boards, music, and rhythm activities followed by an activity. Child and caregiver attend.

Networking with Nonprofits in Ocala

Today, Tuesday, Oct 18 5:30p
at Harry’s of Ocala, Ocala, FL

We will head to the great city of Ocala to provide a networking
opportunity for nonprofit professionals to mix, meet, and mingle!

See you there!!

Sun Digital Electronics Recycling & Charity Food Drive For Brothers Keeper of Ocala, FL

Wednesday, Oct 19 7:30a to 1:30p

Sun Digital is hosting an electronics recycling charity food drive in Downtown Ocala. To benefit Brothers Keeper, a social outreach ministry of Blessed Trinity Catholic Church, providing the needy & homeless with emergency assistance & daily soup kitchen. Sun Digital has helped to keep over 2. read more

Faux Glazing Class

Wednesday, Oct 19 9:00a to 5:00p
at Decorative Designs, Ocala, FL

As a student of this class, you will create sample boards using the Modern Masters Professional Line of Glazing Creams and Colors. The boards that you create are yours to keep. All products and tools are provided for your use during the class.

http://www.decorativedesignsocala.com/

Science Exploration

Wednesday, Oct 19 4:00p
at Dunnellon Public Library, Dunnellon, FL

Discover science through experiments at your library. Registration rquired. For children and teens.

Sean’s Sensory Corner by Autism 4 Parents

Wednesday, Oct 19 6:30p to 8:00p
at Autism 4 Parents, Inc, Ocala, FL

Autism & Sensory intergration Meeting for September.
Parents, Families & Community Welcomed!Directed by Laurel Baxla OT. Sept. 21st (Wed.) at 6:30 pm. Location at 425 SW 14th St. Off of 301/441 – 3 blocks north of 17th Street

http://www.autism4parents.org/

SHINE Medicare Counseling

Thursday, Oct 20 10:00a to 12:00p
at Elder Options, Gainesville, FL

SHINE (Serving Health Insurance Needs of Elders) is a free program of the Florida Department of Elder Affairs. SHINE counselors provide information and guidance on topics that include Medicare/Medicaid, long-term care insurance, supplemental insurance, prescription drug assistance and Medicare fraud. read more

http://floridashine.org/

Free Cholesterol and Diabetes Screening

Thursday, Oct 20 12:00p to 5:00p
at Winn Dixie Pharmacy, Ocala, FL

Free Cholesterol and Diabetes Screenings offered from 12:00 pm – 5:00 pm October 20 at Winn-Dixie Pharmacy, 4417 NW Blitchton Rd., Ocala, FL., For more information call Cholestcheck: 800-713-3301 (No-Appointments)

Art at The Manor

Thursday, Oct 20 1:00p to 4:00p
at The Cherished Bride Manor, Ocala, FL

Jolene Ford teaches Oil & Acrylic Painting on Thursdays from 1-4pm. Great for Art Class for Beginners or advanced painting in Ocala! $15 class fee, start anytime, and bring your supplies. Call Alexa at 352-390-6801 for more details.

http://www.thecherishedbride.com/

Carnival

Thursday, Oct 20 5:00p to 11:00p

Blessed Trinity Carnival will be held Oct. 20 through Oct. 23, at Blessed Trinity Catholic Church, 5 SE 17th Ave., Ocala. Armbands available for purchase at $20 in advance or $30 at the carnival. (622-5808 or www.btcarnival.com)

Wayne’s World Nightmare on Pine Street

Thursday, Oct 20 8:00p to 11:00p

Wayne’s World of Paintball’s annual Haunted trail to raise funds for Toys for Tots. 2 1/2 acres of Haunted Attractions. $7 per victim. Across from Ocala Drive-In.

http://www.waynes-world.com/wwopen.html

Grace School Annual Golf Tournment

Friday, Oct 21 8:00a to 2:00p
at Country Club of Ocala, Ocala, FL

Grace School Annual Golf Tournament at the Country Club of Ocala.
$100.00 per player
Registration 7:45 a.m. 8:30 a.m. shotgun start
Includes lunch and drawing for gifts.pAwards for longest drive, straighest drive, longest putt, closest to pin, overll low score, handicap low score and $10,000 hole-in-one. read more

 

Coupon Exchange with The Clippin Chix

Friday, Oct 21 10:00a to 11:00a
at The Cherished Bride Manor, Ocala, FL

Join us on FREEBIE FRIDAYS for a fun and informative Coupon Club in Ocala.. Bring coupons to exchange & 4 month or newer for our Donation program to the Troops.. Free Coffee & light refreshments, & make new friends. New to couponing? Then pick up tips for success or how to organize!

Corn Maze

Friday, Oct 21 4:00p

Timberline Farm corn Maze Festival will be held from 4 p.m. to dusk Friday, Sept. 30 and 10 a.m. to dusk Saturday and Sundays, Sept. 30 through Oct. 31 at 3200 SE 115th St., Belleview. $6-$8. Music, train rides, pony rides, games and more. (454-4113 or www.timberlinefarm.net)

http://www.timberlinefarm.net

Coon Hollo Corn Maze

Friday, Oct 21 4:00p to 9:00p
at Coon Hollo Farms, Micanopy, FL

Coon Hollo is the perfect fall family activity! Come enjoy our 5 acre interactive crop maze, hayride to feed cows, farm train rides, tire swings, corn cribs and much more! New this year is our one of a kind “Pasture Putt-Putt” golf course and watch the goats climb up the “Goat Treehouse”, all this is included in admission price! read

 

 

http://coonhollocornmaze.com/

Keys toTransferring Wealth and Abundance Through Understanding the Principles and Psychology of the Energy of Money

 

Friday, Oct 21 6:00p

 

at Grace Fellowship Church, Ocala, FL

 

1st Workshop Series of Wealth Transfer
* Prospering through Divine order.
* Success what is it any way?
* Finding the Keys to the kingdom Principles.
* Understanding your money belief systems.
* Taking a closer look at your money roots.
* Understanding your personal blockages to receiving and keeping money. read more

 

 

Ocala Ghost Walks & Historical Tours

Friday, Oct 21 8:00p

Scheduled Walks Friday and Saturday at 8 PM other days and times by reservation tours available 7 nights a week just call to reserve, no extra charge for private tours. Address listed is our ticket office and also meeting place at Doc of Rock Downtown SquareCatherine Wendell Ocala Ghost Walks & Historical Tours Owner has lived and worked in Ocala Historic District for over thirteen years Eleven of those years were at the Seven Sisters Bed and Breakfast which has been famously acclaimed haunted by Sci-Fi channel’s TAPS Ghost Hunters show

http://www.ocalaghostwalks.com/

Macabaret 9

Friday, Oct 21 7:00p
at Ocala Civic Theatre, Ocala, FL

http://www.ocalacivictheatre.com/season.html

Fall Fun Nights

Friday, Oct 21 7:30p to 9:30p
at Uncle Donald’s Farm, Lady Lake, FL

Fall Fun Nights from 7:30 to 9:30 p.m. Fridays and Saturdays Oct. 14 through Oct. 29 at Uncle Donald’s Farm, 2713 Griffin Ave., Lady Lake. $9. (753-2882 or visit www.uncleddonaldsfarm.com)

18 & Up Haunted House – Scaring Ocala Back to Life

Friday, Oct 21 8:00p to Saturday, Oct 22 2:00a

We are bringing your childhood fears to life.
The Fear Fest Haunt is 18 & Up for intensity and graphic scenes. It is not recommended for people with heart conditions, who are pregnant, or suffer from intense claustrophobia or anxiety.
There will be toned down days for persons under 18 that will be scheduled throughout the month. read

Fright Nights

 

Friday, Oct 21 8:00p to 11:00p

 

 

Creature Features, Haunted Mansion, Psycho Panther Prowl, Terror Island and “Gator Man” River Cruise at Ft King Waterway are just a few of the frightly features. More details are added.

http://www.silversprings.com/2011_october/fright.html

McIntosh 1890’s Festival

Saturday, Oct 22 8:00a to 5:00p
at Van Ness Park, McIntosh, FL

Annual arts, crafts and antiques festival features 280 vendors from all over the country, all day free family friendly entertainment and a pleasant Victorian setting.

http://www.friendsofmcintosh.org/

JEEPTOBERFEST

Saturday, Oct 22 8:00a to 4:00p
at Market of Marion Belleview, Belleview, FL

Jeeptoberfest, the 14th Annual Fall Jeep Show and Swap meet held from 8 a.m. to 4 p.m. Saturday, Oct. 22 and from 8:30 a.m. to 2 p.m. Sunday, Oct. 23, at the Market of Marion, 12888 SE Highway 441, Belleview.
Registration is $15 prior to Oct. 15 and $20 at the gate. Spectator admission is $5, 12 and under are free. read

http://www.ocalajeepclub.com/

RATS AND RODS

Saturday, Oct 22 9:00a
at Don Gartlis Musuem, Ocala, FL

Rats and Rods with Big Daddy at 9 a.m. Oct. 22, at Don Garlits Museum, 13700 SW 16th Ave., Ocala. (362-4124 or www.garlits.com)

http://www.garlits.com/

Car Wash & Center Supply Drive

Saturday, Oct 22 9:00a to 1:00p
at Southern Self Storage, Ocala, FL

The PACE Center for Girls and Southern Self Storage are holding a car wash and center supply drive on saturday Oct. 22, 2011 from 9 am to 1 pm. It will be held at Southern Self Storage-3407 NE 36th Ave. There will be hot dogs, chips, soda and water for sale. Some of the supplies needed for the PACE center are: toilet paper, paper towels, plastic cutlery, paper plates, paper/plastic cups, liquid hand soap and hand sanitizer. read

Ocala Arts Festival

 

Saturday, Oct 22 10:00a

 

 

A fun weekend of fine art in an artist friendly environment.
23,000 attendees expected.
** Estimated start time — Please confirm **

Hearse rides on the square

Saturday, Oct 22 6:00p to 9:00p

come to Doc of Rock’s Halloween party and bob for apple’s and more Halloween fun while Ocala Ghost Walks & Historical Tours offer $5 hearse ride’s around the square and up historic and haunted Fort King. offered from 6-9 PM. We know you are dying to ride in the hearse come join us!

Dogtober Fest

Sunday, Oct 23 12:00p to 3:00p
at Millennium Dog Park, Ocala, FL

Halloween Howls & Pals Costume Contests.Vendors, raffles, 50/50 drawing. Bring your chair. Kids welcome and dogs must be leashed. Call 732-8655 for information

Phantoms In The Forest

Sunday, Oct 23 7:00p
at Silver River State Park, Ocala, FL

Enjoy a Halloween celebration with spooky storytelling in the Cracker Village. This annual event is presented by Friends of Silver River State Park. Professional storytellers offer a family friendly evening of spooky tales (starting out with not so spooky stories for our younger guests.) Even the spookiest tales also offer some knee slapping hilarity for a great evening belly-laugh. read more

What is a Short Sale & Some Things You Should Know

Posted by Duke Rountree on

What is a Short Sale & Some Things You Should Know

What is a Short Sale?

A short sale is a transaction where the net proceeds from the sale of a property are not enough to cover the sellers mortgage obligation and closing costs, such as property taxes, transfer taxes, and real estate commissions.

ONLY Real Hardships Get the HELP!

Purchasing or refinancing your house during the housing boom is not a legitimate hardship. Banks actually review and analyze short sale sellers hardships and most center of the economy. In short the banks are going to verify the short sale is in their best interest, not the sellers. What are acceptable hardships? medical issues, divorce, disability, significant loss of income, death, unemployment, and relocation.

Laws Are Local(State)

Foreclosure laws vary from state to state and it is important to remember there are currently no short sale laws on the books. Federal guidelines are in place, however the bank does not have to do anything they do not want too. If you decide to move forward in selling your home as a short sale there are a few things to keep in mind.

1) If the bank approves the short sale will there be a deficiency amount owed for the difference between your mortgage amount and sales price, minus fees?

2) Will the bank accept a “Deed in Lieu of Foreclosure”? With a deed in lieu of foreclosure, the property owner gives the property to the lender voluntarily in exchange for the lender canceling the loan. The lender may or may not agree to forgive any deficiency balance that results from the sale of the property.

3) Potential Tax liabilities- Under federal law, a creditor is required to file a 1099C whenever it forgives a loan balance greater than $600.00 which could create a tax liability  for you. However the Mortgage Forgiveness Debt Relief Act of 2007 provides tax relief for some loans forgiven in 2007 through 2012.

Lastly, please seek the advice and consult with an attorney, and possibly accountant, experienced in bankruptcy law to understand all of your options.

“Until Next Time”

Ocala Events for October 10-16 2011

Posted by Duke Rountree on

WEEKDAY EVENTS…

Corn Maze

Today, Monday, Oct 10 3:00p to 10:00p
at Brown Farm, Oxford, FL

10 acre corn maze from 3 to 10 p.m. Monday-Thursdays, 10 a.m. to 11 p.m. Fridays and Saturdays and 9 a.m. to 10 p.m. Sundays Oct. 7 through Nov. 20, Brown Farm, 13992 Highway 301, Oxford. Kids games, monster truck rides, hay rides and more. $12 for adults, $10 for kids and seniors, under 3 are free.

http://www.americanmaizefestivals.com/

Free Diabetes Screening

Tuesday, Oct 11 11:00a to 4:00p
at Publix, The Villages, FL

Free Diabetes Screenings offered from 11:00 am – 4:00 pm October 11 To October 12 at Publix, 1120 Bichara Blvd., The Villages, FL., For more information call Cholestcheck: 800-713-3301 (No appointment necessary)

Earn Your GED on the GED Bus

Tuesday, Oct 11 2:00p
at Forest Public Library, Ocklawaha, FL

It’s never too late to get your high school diploma. Schedule follows the Marion County School Board calendar.

Ballroom Dance Party

Wednesday, Oct 12 7:00p to 9:00p
at Dancin’ Around Studio, Ocala, FL

Practice social dancing in a safe environment. We provide social dance parties at Dancin’ Around Studio on a regular basis so you can practice what you’re learning in your dance classes in a comfortable social atmosphere. You don’t need to be a Dancin’ Around Studio student to attend our social dance parties!

http://www.danceocala.com/

The Guys

Wednesday, Oct 12 8:00p
at Ocala Civic Theatre, Ocala, FL
http://www.ocalacivictheatre.com/season.html

FRIDAY OCTOBER 14th…..

 

Coupon Exchange with The Clippin Chix

Friday, Oct 14 10:00a to 11:00a
at The Cherished Bride Manor, Ocala, FL

Join us on FREEBIE FRIDAYS for a fun and informative Coupon Club in Ocala.. Bring coupons to exchange & 4 month or newer for our Donation program to the Troops.. Free Coffee & light refreshments, & make new friends. New to couponing? Then pick up tips for success or how to organize!

http://www.thecherishedbride.com/

The Pickin’ Patch – U Pick Pumpkin Patch

Friday, Oct 14 3:00p
at The Pickin’ Patch, Dunnellon, FL

Come pick the perfect pumpkin right off the vine!! Join us Friday, Saturday and Sundays at The Pickin’ Patch in Dunnellon FL. Come enjoy family fun down on the farm with hayrides, hayforts, kiddie corn maze and of course picking your own pumpkins, sunflowers and corn right out of the field! Admission is $2, children 3 and under are free.

http://www.dunnellonpumpkinpatch.com/

Fall Fun Nights

Friday, Oct 14 7:30p to 9:30p
at Uncle Donald’s Farm, Lady Lake, FL

Fall Fun Nights from 7:30 to 9:30 p.m. Fridays and Saturdays Oct. 14 through Oct. 29 at Uncle Donald’s Farm, 2713 Griffin Ave., Lady Lake. $9. (753-2882 or visit www.uncleddonaldsfarm.com)

Halloween Howler

Friday, Oct 14 8:00p to Saturday, Oct 15 1:45a

Fear Fest, Ocala’s newest and finest Haunted House at the Ocala Entertainment Complex. We are bringing your childhood fears to life. Haunt opens at 8pm every Friday and Saturday night in October to 18 and over patrons, open to all ages on Thursday Oct. 13th, Thursday October 20th and Halloween night. read more

http://ocalafearfest.blogspot.com/

Fright Nights

Friday, Oct 14 8:00p to 11:00p

Creature Features, Haunted Mansion, Psycho Panther Prowl, Terror Island and “Gator Man” River Cruise at Ft King Waterway are just a few of the frightly features. More details are added.

Viernes Caliente

Friday, Oct 14 9:00p to Saturday, Oct 15 2:00a

Cloud 9 & Good Fellaz ent. invite you EVERY Friday for the HOTTEST Latin Night in Ocala.
We’re featuring top DJ’s spinning Salsa, Merengue, Bachata, reggeton & current Latin hits to keep you dancing all night long
-Doors open @ 9
-Ladies in free till 11pm
-Check out Drink specials on tequilla, bacardi, margaritas, Corona & Dos XX.

SATURDAY OCTOBER 15th….

 

United Hay Sales Animal Swap

Saturday, Oct 15 8:00a to 1:00p
at United Hay Sales Inc., Ocala, FL

Bring your sheep,puppies,chickens,goats or any other critter that you want to trade, swap or sell. Pet vaccines from 10:00am to 11:00am.

Come hungry Yum Yum Kitchen will be open.

United Hay Sales is located on the corner of 326 and Hwy 27

http://www.unitedhaysales.com/

Jazz Up Dunnellon!

Saturday, Oct 15 10:00a
at E & W Pennsylvania Avenue, Dunnellon, FL

All types of Jazz styles spaced along out tree-lined main street, and Cajun/creole street. Food vendors add to excitement.
5,000 attendees expected.

Lady Lake Art in the Park & Music Festival

Saturday, Oct 15 10:00a
at Log Cabin Park, Lady Lake, FL
This event is held on the streets and park of the.This event draws large crowds with good buyers.10,000 attendees expected. Log Cabin Park along Hwy. 27/441 2miles south of The Villages in central Florida

Log Cabin Park

106 S. U.S. 441, Lady Lake, FL, 32159 

Coffee with the Birds

Sunday, Oct 16 8:00a
at Silver River State Park, Ocala, FL

Join an experienced birder on a gentle hike through beautiful Central Florida woodlands identifying birds by sight and sound. Bring a coffee cup and your field guide; insect repellant also suggested. Event is weather permitting. No pets, please.

Please confirm all dates and times prior to attending. This event calendar in part or full was provided by www.ocala.com, click entertainment, click events.
“Until Next Time”

Events in Ocala / Marion County FL for the weekend of September 29th & 30th, 2011

Posted by Duke Rountree on

Whats happening in Ocala this weekend? WOW, there is a lot going on!

FRIDAY:

FRIDAY NIGHT PAINTING PARTY

HERSHBERGER & HUFF STUDIOS offers workshops and classes!! Don’t miss the fun! Create an original 12×12″ studio wrapped canvas with textures in acrylic. They provide everything, you just show up.

When & Where: Friday September 30th 7PM-10PM @ 1735 NE Jacksonville Road, Ocala FL 34470 DIRECTIONS & MAP

Ocala Civic Theater: Presents “CHICAGO The Musical”

A Tony Award-winning musical that ran 14 years on Broadway is still going strong. Set in the roaring 20’s in Chicago, a band of merry murderesses, each one on death row for murdering a former lover – sing and dance their way to fame and fortune.

When: Friday September 30, 2011 click here for more details or call 352-236-2274.

SCARING OCALA BACK TO LIFE – 18 & UP HAUNTED HOUSE – Ocala Entertainment Complex

Bringing your childhood fears to life. The FEAR FEST HAUNT is 18 & up for intensity and graphic scenes. There will be toned down version for persons under 18 scheduled throughout the month.

Where & When: Friday September 30 8:00PM to Saturday October 1 – 2:00 AM Ocala Entertainment Complex  1227 SW 17th Ave. Ocala, FL 34471 DIRECTIONS & MAP

SATURDAY:

PRESCHOOL CLUB – Ocala Public Library

3-5 year olds and their caregivers to join in this new adventure. Includes activities, dramatic play, and games designed to boost your childs reading skills

When & Where: Saturday October 1  – 2:00 PM @ Ocala Public Library DIRECTION & MAP

YMCA “GET MOVING MARION COUNTY”

It’s time to get moving Marion County, and the Y is here to help you get started. Local Marion County YMCA is providing FREE facility access for 21 days. Mention to the front desk staff the online event at www.Ocala.com  and their professional staff will help you get moving.

When & Where: Saturday, September 30 5:00 AM-9:00PM @ 3200 SE 17th Street Ocala, FL 34471 DIRECTIONS & MAP

JOHN LAWLER: Acoustic Guitarist – Brick City Center for the Arts

When & Where: Saturday October 1  –  8:00 PM –   23 W. Broadway St. Ocala, FL 34474 DIRECTIONS & MAP

OCALA GHOST WALKS & HISTORICAL TOURS – Doc of Rock Downtown Square

Start at 8:00 PM on Friday and Saturday nights. Also offers year round tours, reservation are required for all tours!!! Ocala Ghost Walks introduce the realm of possibility to both the greatest enthusiasts and the most daring skeptics of the paranormal. Catherine Wendell / Owner has lived in Historic District for 13 years and seen her share of spirits.

When & Where: Every Friday & Saturday night 8:00 PM – Phone 352-690-7933 @ DIRECTIONS & MAP

JASON HUNTER – Ocala Entertainment Complex

Comic performs at Bonkerz Comedy Club /  $12

Where & When: Saturday October 1 – OEC 1227 SW 17TH Ocala, FL 34475 –DIRECTIONS & MAP

 

 

 

 

 

 

August- Existing Home Sales Surge

Posted by Duke Rountree on
Existing home sales increased in August despite tightened credit and issues with low appraisals problems.Total existing-home sales rose 7.7% to seasonally adjusted average of 5.03 million, which is up from July’s 4.67 million and 18.6% higher than August of 2010.

Lawrence Yun, NAR chief economist, says the uptick can be attributed to favorable affordability conditions, rising rents and “Investors were more active in absorbing foreclosed properties.

Investors accounted for 22% of purchase activity and FIrst-time homebuyers purchased 32% of home in August. All cash sales accounted for 29% which was unchanged from July.

Why is the market taking so long to get back on track?

The biggest factors keeping home sales from a healthy recover are mortgages being denied to creditworthy buyers, and lower appraised valuations. This leads to “contract failures, or cancellations because of declined mortgage applications. 18% of NAR members reported contract cancellations which is up from 16% in July and 9% in August 2010.

Median existing single-family homes price was 168,400 in August, which is 5.4% below a year ago. In the South, existing-home sales increased 5.4%, which is 16.9% higher than a year ago and the median sales price ONLY went down .8% below August 2010.

It is a great sign to see the year to year median price slowly narrowing the gap from the years past sales. In my opinion, depending on shadow inventories and the economy, we should start seeing a smaller gap in existing median homes sales prices over the next year or two. This would be great news for existing home owners too see their largest investment stop losing value month after month and yearly drop in values since 2007.

“Until Next Time”

Source: http://realtormag.realtor.org/daily-news/2011/09/21/august-existing-home-sales-leap-despite-headwinds

Cleaning House: Secrets of Truly Deep Cleaning

Posted by Duke Rountree on

Cleaning House: Secrets of a Truly Deep Clean

By: Jane Hoback

Published: January 14, 2011

Deep clean your house and you’ll brighten rooms and help maintain your home’s value.

 

De-bug the light fixtures

See that bug burial ground within your overhead fixtures? Turn off the lights and carefully remove fixture covers, dump out flies and wash with hot soapy water. While you’re up there, dust bulbs. Dry everything thoroughly before replacing the cover.

Vacuum heat vents and registers

Dirt and dust build up in heat vents and along register blades. Vents also are great receptacles for coins and missing buttons. Unscrew vent covers from walls or pluck them from floors, remove foreign objects, and vacuum inside the vent. Clean grates with a damp cloth and screw back tightly.

Polish hardware

To deep clean brass door hinges, handles, and cabinet knobs, thoroughly wipe with a damp microfiber cloth, then polish with Wright’s or Weiman brass cleaner ($4). Dish soap shines up glass or stainless steel knobs. Use a Q-tip to detail the ornamental filigree on knobs and handles.

Replace grungy switch plates

Any amateur can wipe a few fingerprints off cover plates that hide light switches, electric outlets, phone jacks, and cable outlets. But only deep cleaners happily remove plates to vacuum and swipe the gunk behind. (OK, we’re a little OCD when it comes to dirt!) Make sure cover plates are straight when you replace them. And pitch plates that are beyond the help of even deep cleaning. New ones cost less than $2 each.

Neaten weather stripping

Peeling, drooping weather stripping on doors and windows makes rooms look old. If the strip still has some life, nail or glue it back. If it’s hopeless, cut out and replace sections, or just pull the whole thing off and start new. A 10-ft. roll of foam weather stripping costs $8; 16-ft. vinyl costs about $15.

Replace stove drip pans

Some drip pans are beyond the scrub brush. Replacing them costs about $3 each and instantly freshens your stove.

Jane Hoback is a veteran business writer who has written for the Rocky Mountain News, Natural Foods Merchandiser magazine, and ColoradoBIZ Magazine.

Delays in Foreclosures Reach New Records!

Posted by Duke Rountree on

Delays in Foreclosures Reach New Records! Home owners are living in their homes, mortgage & rent free, on average for 20 months or 599 days which is a new record according to data collected by Lender Processing Services, LLP.

There are approximately 1.9 million homes loans that are 90 or more days late, but not yet in foreclosure and 42% of those home owners have not made a payment in more than one year, with average delinquency of 397 days.

Why so long? Well there are judicial states and non-judicial states and the time frame to complete the foreclosure process varies greatly. Florida is non-judicial state and could possible clear inventories within 32 months, compared to a judicial state, like Las Vegas, that would require up to 111months. OUCH!! Yes that is correct, 111 MONTHS to work through inventories that are more than 90 days late.

In my opinion we will be working through these issue for many years to come, maybe upwards of 5-10 years and who really knows. I do know if we do not start creating jobs and help small business owners, it will take even longer because there are not enough qualified people to purchase new or existing homes.

“Until Next Time”

Florida Still Highest Among Foreclosures

Posted by Duke Rountree on

Florida Still Highest Among Foreclosures

Almost 1 in 4 mortgages are either past due or already in foreclosure during the second quarter, according to Mortgage Bankers Association. We also have the highest inventory of homes in foreclosure currently at 14.4%. The national average delinquency rate was 8.44% in the second quarter and up slightly from the first quarter.

Foreclosures continue to be found in just a few states, with ONLY five states accounting for 52 percent of the foreclosure inventory in second quarter.

1. Florida (14.4%)

2. Nevada (8.2%)

3. New Jersey (8%)

4. Illinois (7%)

5. Maine and New York (5.5%)

 

Source: Realtor Magazine August 23, 2011 http://realtormag.realtor.org/daily-news/2011/08/23/which-state-has-highest-foreclosure-inventory

USDA Still has NO Downpayment Loans

Posted by Duke Rountree on

USDA still has No Down Payment loans.

U.S. department of agriculture has 11.2 Billion, yes billion, earmarked for mortgage loans thanks to funding from federal programs. Called a Section 502 loan, the loan is one of the few zero down products available in the mortgage market.

In years past money would run out during the summer and buyers would have to wait for more money to be available. Most low to middle income Florida residents can qualify for the USDA Loan if they live in rural, small town cities.

The program will change slightly after Oct. 1, when buyers will be required to pay a 0.3 percent premium for mortgage insurance monthly; however, the cost of upfront mortgage insurance will be reduced to 2 percent from its current 3.5 percent.

For more information, visit the USDA’s website or Call/Text me to find a local lender to answer all of your questions.

“Until Next Time”

John Wayne “DUKE” Rountree