Housing slump affecting furniture sales

Florida home owners may be turning cushion seats over instead of buying new sofas. According to a Standard & Poor's report, furniture sales are down 0.9% over the same time last year.

The report suggests that purchasers of new homes often buy new furniture for the home. Since fewer people are buying, furniture sales are dropping as well.


Related Florida real estate views:

Housing slowdown slows paint sales

Real estate agents being fined for run down REO property

Florida continues to lose construction jobs


- Greg Staker - Watson Realty Corp. - 407-304-0255

Orlando and the country may get Federal help with home mortgages

Forbes magazine is reporting that the Bush Administration is trying to resolve some of the mortgage issues brought on by adjustable rate increases that are making it impossible for some home owners to make their payments. The information can be found in the link below:

WASHINGTON -
The Bush administration is working with industry on a plan to extend lower, introductory interest rates on home loans before they reset at higher levels.


Related Florida real estate views:

President Bush not completely happy with housing bill

Florida Senators vote in favor of foreclosure bill HR 3221

How does President Bush pick a real estate agent?


- Greg Staker - Watson Realty Corp. - 407-304-0255

Home prices increased in certain areas of the country.

According to a press release from OFHEO, the following states saw their homes increase in price from the 3rd quarter of 2006 to the 3rd quarter of 2007.

Utah (12.9%)

Wyoming (11.8%)

Montana (7.7%)

New Mexico (7.4%)

Washington (7.0%)

Related Florida real estate views:

Florida home prices increase by 26%

Americans believe home prices will increase

Florida home median sales price increase


- Greg Staker - Watson Realty Corp. - 407-304-0255

More good reasons to live and work in Orlando

Here is a press release from Orlando Mayor Buddy Dyer's office:

Orlando, FL – November 20, 2007 – Standing inside the City’s newest Fire Station, Orlando Mayor Buddy Dyer and Fire Chief Jim Reynolds announced that the Orlando Fire Department had received the coveted Insurance Services Office (ISO) rating of 1. ISO is the nationwide standard for rating and ranking fire departments.

Orlando’s rating is the highest possible and only 55 communities in the country have similarly ranked fire departments. "This top ISO rating allows Orlando residents to live, work and go to sleep every night knowing that their fire protection is the best in the country," said Mayor Dyer.

In general, better ISO ratings lead to lower fire insurance premiums. This also benefits businesses, which also can see reduced insurance rates. This is one reason companies looking to relocate compare ISO ratings, giving us another tool to attract quality, high-wage employers to Orlando.

"Attaining this rating demonstrates the City’s continuing commitment to providing the highest quality services to our growing community," said Fire Chief Reynolds.

In July 2006, Mayor Dyer launched a three-year, multi-million dollar Public Safety Initiative. This effort placed more fire and rescue units on our road, additional fire stations throughout the City and included the training, equipment and personnel that laid the foundation for the City of Orlando to attain the first ISO rating of 1.

This milestone could not have been achieved without the Orlando Utilities Commission. The municipal water supply makes up forty percent of the total score and must be reliable at all times.


Related Florida real estate views:

Orange County Community Conference - Orlando Florida

Need another reason to move to Orlando? How about badminton tournaments?

Orlando will lead Florida in population, employment and personal income gain


- Greg Staker - Watson Realty Corp. - 407-304-0255

Downtown Orlando will be getting festive this year.

Orlando is hosting for the first time a holiday decorating contest for the downtown area to participate in. Here is information regarding this event posted on Orlando's city web site:

1. Contest includes businesses on Orange Avenue from Colonial/50 to South Street.
2. Displays must be up by December 1, 2007 to be considered.
3. Email your participation to the Downtown Development Board at michael.lawrence@cityoforlando.net.
4. Doors can be decorated in any holiday-type (for this time ofyear) theme. The more creative, the better! But, nothing offensive or inappropriate, please. Use good taste!
5. A celebrity panel of judges will determine the best display.
6. Doors will be judged on the following criteria:Uniqueness Amount of holiday spirit displayed Incorporating Downtown Orlando living into display
7. The Best Display will be announced at Mayor Dyer's Holiday Lights Orlando event on December 5th beginning at 5 p.m.


Related Florida real estate views:

Orlando Christmas Parade

Florida real estate and the Santa connection

The American Dream 4th of July Independence day


- Greg Staker - Watson Realty Corp. - 407-304-0255

Orlando gas prices

Orlando residents looking to travel home this Thanksgiving holiday will face higher gas prices than they did last year. According to http://www.florida-agriculture.com/, Orlando gas prices today are averaging $3.05 as compared to $2.16 during last year at the same time.


Related Florida real estate views:

Central Florida gas station now offers E85 ethanol

Worried about gas prices? Buy a house close to everything.

Watson Realty announces contest


- Greg Staker - Watson Realty Corp. - 407-304-0255

VA is helping reduce the homeless population among veterans

VA is taking steps to help reduce the amount of homeless veterans in this country including Orlando. In a VA news release dated November 8th VA acknowledged their efforts. I have included a couple of highlights from the release below.

• There has been a 22 percent reduction in the number of homeless veterans in comparison to estimates as recent as five years ago.
• More than $300 million in grants have been provided to local partners for homeless programs.

Related Florida real estate views:

Seminole County receives homeless report

Homeless population decreases according to HUD

Real estate agents show support for VA housing program

- Greg Staker - Watson Realty Corp. - 407-304-0255

Orlando population projected to increase.

Good news potentially for those involved in the Orlando real estate market. Fishkind & Associates an economic and financial consulting firm, expect the Orange County population to increase nearly 7% by 2010.

Orange County is projected to grow from 1,101,040 to 1,176,520.


Related Florida real estate views:

Florida is a great place to operate a business

Baby Boomers love to grill

Orlando will lead Florida in population, employment and personal income gain


- Greg Staker - Watson Realty Corp. - 407-304-0255

FDIC offers suggestions to obtain the best mortgage terms

A recent press release regarding the fall 2007 FDIC Consumer News came out on November 16th.

The press release can be read in its entirety here.

Highlights of the release include:

‘While it may be tougher to get mortgages because of recent problems in the
housing market, the latest issue of the Federal Deposit Insurance Corporation's
quarterly newsletter for consumers says that "many good loan programs are still
available" and offers tips to help people shop for and negotiate the right
deal.’

‘The main article, entitled "The New Climate for Mortgage Borrowers," features a
variety of suggestions for obtaining a new mortgage or refinancing an existing
one. Among them: Try to raise your credit score in the months before you apply
for a mortgage, such as by paying off much or all of what you owe on credit
cards. Contact several lenders, let them know you are comparison shopping, and
then try to negotiate the best deal. Compare fixed-rate and adjustable-rate
mortgages (ARMs), even if the latter carries a lower initial interest rate,
because a fixed-rate loan may be cheaper in the long run. Be wary of a loan with
payments that can increase substantially, such as mortgages with low monthly
payments in the early years in exchange for the deferred repayment of principal
and/or interest. And, watch out for unfair and deceptive sales practices that
lure people into costly or inappropriate loans.’

Comparing rates and terms is especially important in today's market. Watson Mortgage offers a free loan comparison to anyone who is thinking of buying a home and would like to compare mortgage rates.


Related Florida real estate views:

Buyers are choosing fixed rate mortgages

FDIC – Home ownership declines with income levels

FDIC Chairman, Sheila C. Bair sees no end to housing woes


- Greg Staker - Watson Realty Corp. - 407-304-0255

Watson Title of Orlando provides great service.

Having a great title company as part of our family of services is a benefit to the customer as well as to the agent.

However just because we are affiliated with Watson Title Services, does not mean we receive any extra compensation for transactions closed by Watson Title Services.

Other Title Companies are finding out the hard way why they should not attempt to compensate Realtors for business as reported in the Orlando Sentinel.


Related Florida real estate views:

QUIT Claim deed not QUICK Claim

Survival guide to use when purchasing a home.

WATSON REALTY RANKED #12


- Greg Staker - Watson Realty Corp. - 407-304-0255

ORRA President Steve Moriera to focus on education

According to the Orlando Regional Realtor Association web site, Steve Moriera intends to focus partly on education for the 12,000 +/- member Realtors in 2008.

Hopefully this education will include detailed courses on what constitutes mortgage fraud.

We have an obligation as individual companies, local, state and national associations to make sure our membership understands what mortgage fraud looks like, how it adversely impacts our economy and what we can do to protect consumers and ourselves from getting involved in this illegal activity.


Related Florida real estate views:

Odd recruiting practices of real estate offices.

Is customer service improving as the market weakens?

Feds suing real estate companies


- Greg Staker - Watson Realty Corp. - 407-304-0255

MLS marketing remarks can assist you with selling your home

The public comments section in the MLS, which includes Orlando homes for sale, is a listing agent's opportunity to speak directly to a potential buyer. This space is normally used to describe the great features the home offers. It might also be used to make your case for why a qualified buyer should consider this listing as compared to the thousands of other listings available to them.

With the market as challenging as it is, you might be able to make a case for using the word "please" in the public comments. For instance, how about "please look a this home if you plan to look at any home in a million mile radius" or "please do not let the cat out unless you are planning on making an offer, we can always get a new cat. " : )

Most mothers will tell you that you have a better chance of getting something you ask for, if you simply say please.

So with the market in its current condition, you would think please would be running amok in the public comments section. Please make an offer. Please view my home. Please ask questions. Please ask me about concessions. Please show. Please tell me why you did not make an offer. Please tell me how we can increase our chances of selling the home.

Think again.

Of the 69,210 listings being reported as active in the Mid-Florida MLS, please was only used 502 times, or 0.725% of the time.

I am going to suggest to my agents at the next sales meeting that if they run out of great things to say about the home they have listed, why not try finding a way to insert a please. Could it hurt?

Oh by the way, I also checked thank you. It was used only 29 times.


Related Florida real estate views:

This home “won’t last” is now at 612 days and counting

Is there a way to search for foreclosures in the MLS?

MLS taking a stand regarding short sales and commissions


- Greg Staker - Watson Realty Corp. - 407-304-0255

New lockbox to improve Realtor safety.

GE Security is coming out with a lockbox that will be capable of alerting emergency contacts with a push of a panic button.

You can read about this fantastic new development here.

Related Florida real estate views:

In Florida the law is move over if you see flashing lights.

Real estate agents being fined for run down REO property

Watson Realty - Customer Testimonials


- Greg Staker - Watson Realty Corp. - 407-304-0255

No word yet if Zillow will deliver the papers too.

From Zillow's media page:

Zillow.com® and 11 Newspaper Companies Form Online Real Estate
Partnership
Alliance will extend local listings of 282 newspapers to powerful
and growing national real estate site

Related Florida real estate views:

No word yet if Zillow will deliver the papers too.

Does the home seller agree?

ze zillow iz ze buzz word


- Greg Staker - Watson Realty Corp. - 407-304-0255

Foreclosures becoming profitable?

No one likes the current real estate situation. Homes are not selling and lenders are not making loans. Foreclosures are rising at a record rate. It would appear no one is winning. Appearances may be misleading.

Gretchen Morgenson of the New York Times recently wrote a fascinating article on November 6th which can be read in it's entirety here.

A few of the interesting observations and opinions as I read the article are:

"Because there is little oversight of foreclosure practices and the fees
that are charged, bankruptcy specialists fear that some consumers may be losing
their homes unnecessarily or that mortgage servicers, who collect loan payments,
are profiting from foreclosures."

"Now that big lenders are originating fewer mortgages, servicing
revenues make up a greater percentage of earnings. Because servicers typically
keep late fees and certain other charges assessed on delinquent or defaulted
loans, ''a borrower's default can present a servicer with an opportunity for
additional profit,'' Ms. Porter said. "

"She also found that some creditors ask for fees, like fax charges and
payoff statement fees, that would probably be considered ''unreasonable'' by the
courts."

The New York Times article credits Katherine M. Porter, associate professor of law at the University of Iowa with providing much of the information used in the article.


Related Florida real estate views:

President Bush not completely happy with housing bill

HUD is coming to a theater near you

Banks that are selling houses in Deltona


- Greg Staker - Watson Realty Corp. - 407-304-0255

Real estate school starts in January

2008 JANUARY CLASS SCHEDULE

Real estate career

Seminole, Osceola, Volusia and Lake Counties

LONGWOOD – 1445 West SR 434 in Longwood
January 14th – February 14th Mon. Tues. & Thurs. 6PM to 10PM
Class Exam: January 19th Tuesday 6PM

KISSIMMEE – 1950 Irlo Bronson Mem. Hwy. in Kissimmee
January 14th – February 14th Mon. Tues. & Thurs. 6PM to 10PM
Class Exam: January 18th Monday 6PM

PORT ORANGE – 808 Dunlawton Ave. in Port Orange
January 21st – February 21st Mon. Tues. & Thurs. 6PM to 10PM
Class Exam: February 25th Monday 6PM

OVIEDO\UNIVERSITY – 2100 Alafaya Trail in Oviedo
January 21st – February 21st Mon. Tues. & Thurs. 6PM to 10PM
Class Exam: February 25th Monday 6PM

CHAMPIONS GATE – 8235 Champions Gate Blvd. in Davenport
January 28th – February 28th Mon. Tues. & Thurs. 6PM to 10PM
Class Exam: March 3rd Monday 6PM

DELAND – 1961 S. Woodland Blvd. in DeLand
January 28th – February 28th Mon. Tues. & Thurs. 6PM to 10PMClass Exam: March 3rd Monday 6PM

These January 2008 classes are available at a
“New Year” SPECIAL PRICE of $99.00 + $40.00 for the new text book


Related Florida real estate views:

Kissimmee real estate school starting in August

Success school revisted by experienced agents

45 hour post license class - real estate


- Greg Staker - Watson Realty Corp.- 407-304-0255

Homeless population decreases according to HUD

According to a HUD news release found here, the chronically homeless in the America dropped by nearly 12%.

The article further states that the drop can be attributed to an increase in supportive housing.


Related Florida real estate views:

Seminole County receives homeless report

VA is helping reduce the homeless population among veterans

Is it safe to buy or sell in today's real estate market?

To those who are thinking of making a home purchase or selling their current home are certainly cautious as they read about the current market conditions.

What you need to know about buying and selling in a down market is the subject of my latest article page.


Related Florida real estate views:

University of Florida predicts Florida residents will keep their money in their wallet

Smart home sellers listen to what the market is telling them.

Do you provide a CCMA for your home selling customers?


- Greg Staker - Watson Realty Corp. - 407-304-0255

Is your Realtor still in business?

If you have your home listed and have not heard from your Realtor in awhile, you may want to give them a call and find out if they are still working.

Reports are circulating that as high as 30% of the current Orlando area real estate agent membership could be dropping out of the business by years end.


Related Florida real estate views:

Real estate agents being fined for run down REO property

Homebuyers and sellers in Florida may have fewer Realtors to choose from

You do not need a real estate agent


- Greg Staker - Watson Realty Corp. - 407-304-0255

Orlando area luxury home market

Where are the million dollar homes? If you are looking to purchase a luxury home of 1 million dollars or more you find more of a selection in Windermere with 246 homes reported as being listed at a million or more, 252 homes over a million in Orlando and 125 homes over a million dollars in Winter Park.

Breaking down the selection by county:

151 million dollar plus homes in Lake County
106 in Volusia County
155 in Osceola County
188 in Seminole County
675 in Orange County


Related Florida real estate views:

Florida luxury real estate

Foreclosures for sale: Million dollar houses

What can you expect to find in a home priced 5 million or higher?


- Greg Staker - Watson Realty Corp. - 407-304-0255

Orlando homes sell faster...

....when they are priced and marketed correctly.

Still that does not stop real estate listing agents from suggesting or offering encouraging words about the home in the public comments section of their MLS listings in hopes of motivating potential buyers.

So how well do these well used phrases work? I took a look at sold homes this year in Orlando that used the most common phrases agents think will attract a buyer's interest. The results are as follows:

priced right - 54 days on the market

seller motivated - 102 days on the market

won't last - 107 days days on the market

below appraisal - 109 days on the market

It would appear that when an agent says a home is price right, they are correct. On the other hand, buyers do not seem to impressed with homes priced below appraisal.


Related Florida real estate views:

Smart home sellers listen to what the market is telling them.

What do banks know that home sellers do not?

2.5 million dollars in price reductions


- Greg Staker - Watson Realty Corp. - 407-304-0255

Orlando fire department offers free smoke alarm

The Orlando fire Department is offering a free smoke alarm to any resident of Orlando who does not have one for their home. Call 407-246-3128 for more information.


Related Florida real estate views:

Your landscaping may protect your home from fire

More good reasons to live and work in Orlando

In Florida the law is move over if you see flashing lights.


- Greg Staker - Watson Realty Corp. - 407-304-0255

Gallery Homes to build in Deland

Gallery Homes has announced plans to build a new home community in Deland. The first community named Highlands will offer 55 lots west of Deland. The home prices are expected to start from the $150,000.

Related Florida real estate views:

Homes for sale in Deland

Deland houses for sale

New homes planned for Deland


- Greg Staker - Watson Realty Corp. - 407-304-0255

New housing development possible in Deltona

City commission voted to rezone land on Doyle Road in Deltona Florida which will allow for the possible construction of 246 homes and 128 townhomes. The project, named Vineland Reserve, is scheduled for final action on the zoning November 5th.


Related Florida real estate views:

5 bedroom house for sale in Deltona

Banks that are selling houses in Deltona

Deltona real estate - real estate market update


- Greg Staker - Watson Realty Corp. - 407-304-0255

Home inspections in Florida

Information from Myflorida.com

On June 28, 2007, the Florida Legislature passed Senate Bill 2234 creating
a new law (Chapter 2007-235, Laws of Florida) which requires licensure of home
inspectors and mold remediators. The bill becomes effective July 1, 2010

Related Florida real estate views:

What are the repair obligations to the home seller when using the FAR contract?

Home inspectors recommend caution when buying foreclosed homes

Don’t buy a home without a home inspection


- Greg Staker - Watson Realty Corp. - 407-304-0255

Orlando foreclosure report

Mid-Florida MLS statistics for Orlando as of November 1st indicate:

522 homes listed are in a pre-foreclosure status
121 homes listed are in foreclosure
262 homes listed are bank owned

The number of households that have had a foreclosure filed has increased over the previous quarter by 50%.


Related Florida real estate views:

Orlando home sellers: giving in, selling or losing their home?

Where can you find a foreclosed home in Florida?

HUD offering free foreclosure seminar in Orlando


- Greg Staker - Watson Realty Corp. 407-304-0255