Orlando Area Real Estate News

Archive for March, 2010

The inventory of foreclosed homes that banks are sitting on is rising, threatening to push home prices down further in some parts of the country.

Analysts at Barclays Capital estimated that banks and mortgage investors held about 645,800 foreclosed homes in January, up 4.6 percent from December. That is down significantly from the peak of 845,000 in November 2008.

States with the largest number of foreclosures are Florida, Arizona, Nevada, California, and Michigan.

Source: The Wall Street Journal, James R. Hagerty (03/19/2010)

Homes For Heroes is a wonderful program that is designed to assist Military Personnel, Police, Firefighters, Medical Personnel and Teachers.  The company is based in Texas and has been around since the events of 9/11.  I am proud to say that I am a representative of this program in Seminole and Orange County Florida (Central Florida, Orlando).  The program offers a 25% refund of commission back to the buyer or seller as well as discounts on mortgage origination fees and title fees.  In order to take advantage of the program, buyers or sellers need to register on the home web site www.homesforheroes.com and they will be directed to a representative in their area.  This is a wonderful way to give back to those who put their lives on the line everyday for each and every one of us.