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.


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- 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.


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- 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%)

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- 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.


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- 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.


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- 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.


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- 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.

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- 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.


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- 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.


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- 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.


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WATSON REALTY RANKED #12


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