Jennifer Dodge The Realty Firm, Inc.

Just Listed! 874 Venus Ct #508 Fort Walton Beach, FL 32548
February 19th, 2010 10:18 AM
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$925,000.00
874 Venus Ct #508

Fort Walton Beach, FL 32548



Beds: 4 Rooms: 8
Full Baths: 3 Sq. Ft.: 2238
Garage: 1 Built: 2007
 

The most beautiful views of the Gulf of Mexico from your 500sf+ Balcony.
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Jennifer Dodge
The Realty Firm, Inc.
8502591318
www.searchdestinfloridahomes.com



 
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Posted by Jennifer Dodge on February 19th, 2010 10:18 AMPost a Comment (0)

Just Listed! 4 Windy Lane Mary Esther, FL 32569
January 30th, 2010 12:27 PM
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$625,000.00
4 Windy Lane

Mary Esther, FL 32569



Beds: 3 Rooms: 0
Full Baths: 2 Sq. Ft.: 2083
Garage: 0 Built: 1989
 

Waterfront Home oon Intercoastal Waterway
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Jennifer Dodge
The Realty Firm, Inc.
8502591318
www.searchdestinfloridahomes.com



 
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Posted by Jennifer Dodge on January 30th, 2010 12:27 PMPost a Comment (0)

Just Listed! 344 Hollywood Blvd Fort Walton Beach, FL 32548
January 30th, 2010 12:00 PM
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$64,900.00
344 Hollywood Blvd

Fort Walton Beach, FL 32548



Beds: 3 Rooms: 0
Full Baths: 1 Sq. Ft.: 1198
Garage: 1 Built: 1955
 

Pre-Foreclosure
This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.
 

If you have any questions
about this property or
require more information,
please feel free to call.

Jennifer Dodge
The Realty Firm, Inc.
8502591318
www.searchdestinfloridahomes.com



 
  Visit this listing here

Posted by Jennifer Dodge on January 30th, 2010 12:00 PMPost a Comment (0)

Florida’s existing home, condo sales up at year end 2009
January 25th, 2010 4:24 PM


ORLANDO, Fla. – Jan. 25, 2010 – At the end of 2009, Florida’s existing home and condo sales were higher than a year earlier, a continuing trend for statewide sales activity, according to the latest housing data released by Florida Realtors®.

Existing home sales rose 31 percent at year’s end, with a total of 163,148 homes sold statewide compared to 124,168 homes sold at year end 2008, according to Florida Realtors. Existing home sales activity at the end of 2009 also was 25.6 percent higher than the 2007 statewide sales level, records show. Statewide sales of existing condos increased 47 percent at year end 2009 compared to year end 2008’s sales figure; it was 33.7 percent higher than the year end 2007 statewide existing condo sales.

Seventeen of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales, while 18 MSAs had higher condo sales through the period. A majority of the state’s MSAs have reported increased sales for 18 consecutive months.

“Continuing to stabilize and revitalize the real estate market is the linchpin to a strong economic recovery,” says 2010 Florida Realtors® President Wendell Davis, a broker and regional vice president with Watson Realty Corp. in Jacksonville. “Robust housing and commercial property markets generate business, but they’re also key to helping families build a sense of financial security. Research shows that not only do long-term homeowners benefit from the value and price appreciation of their homes, but even more beneficial is something that simply can’t be measured – a place to raise their families, create memories and call home.

“Now, more than ever, consumers can count on the expertise of Florida Realtors to help them conquer the challenges of today’s marketplace, whether they’re looking for a home or the right location for a new business.”

Florida’s median sales price for existing homes at year end 2009 was $142,600; a year earlier, it was $187,700 for a 24 percent decrease. The national median existing single-family home price was $171,900 in November, down 4.4 percent from a year ago, according to the National Association of Realtors®. NAR housing industry analysts note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. The median is the midpoint; half the homes sold for more, half for less.

NAR’s latest industry outlook predicts the housing recovery to gain momentum in the second half of 2010. “It will be at least early spring before we see notable gains in sales activity as homebuyers respond to the recently extended and expanded tax credit,” said NAR Chief Economist Lawrence Yun.

Qualified buyers who have signed a contract to buy a primary residence by April 30, 2010, have until June 30, 2010, to close the transaction to be eligible for the federal tax credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.

Yun said he expects an additional 900,000 first-time buyers will qualify for the extended tax credit in addition to about 2 million who have already purchased; 1.5 million repeat buyers also are expected to benefit from the credit. While mortgage interest rates likely will inch higher in 2010, Yun said the tax credit impact in the first half of the year and expected job growth impact in the second half will support homebuying; in turn, activity should absorb enough inventory to bring a rough balance between buyers and sellers. Home prices are expected to stabilize or even modestly rise as a result in 2010, according to NAR.

In Florida’s year-to-year comparison for condos, 55,985 units sold statewide at year end 2009 compared to 38,095 units at year end 2008 for an increase of 47 percent. The statewide existing condo median sales price at year’s end was $108,000; a year earlier, it was $164,200 for a 34 percent decrease. The national median existing condo price was $178,000 in November 2009, according to NAR.

Interest rates for a 30-year fixed-rate mortgage averaged 5.04 percent in 2009, a significant drop from the average rate of 6.03 percent in 2008, according to Freddie Mac. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

Among the state’s smaller markets, the Pensacola MSA reported a total of 3,389 homes sold at year end 2009 compared to 3,208 homes a year earlier for a 6 percent increase. The market’s existing home median sales price at year end 2009 was $145,800; a year earlier, it was $155,800 for a 6 percent decrease. A total of 497 condos sold in the MSA, up 22 percent over the 409 units sold at year end 2008. The Pensacola MSA’s existing condo median price at year end 2009 was $240,300; a year earlier, it was $239,000 for an increase of 1 percent.

© 2010 Florida Realtors®

Posted by Jennifer Dodge on January 25th, 2010 4:24 PMPost a Comment (0)

Repeat Buyers Need to Act Fast to Capitalize on Expanded Tax Credit
January 23rd, 2010 8:52 AM

Repeat Buyers Need to Act Fast to Capitalize on Expanded Tax Credit

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RISMEDIA, January 23, 2010—By now it is well documented that today’s affordable housing prices, historically low interest rates and federal home buyer tax credit have combined to create one of the most attractive first-time buyer markets in recent memory. What many Americans might not realize is that a recent expansion of the buyer tax credit has created an equally desirable opportunity for existing homeowners.

This past November, Congress elected to expand the home buyer tax credit to repeat buyers after seeing the success the temporary financial incentive had on the housing market and overall economy. As a result, current homeowners who will have lived in their home for 5 consecutive years out of the last 8 may now be eligible to receive a $6,500 tax credit.

“The expanded tax credit offers a great financial opportunity for existing homeowners, particularly those looking to trade up,” said James M. Weichert, president and founder of Weichert, Realtors, one of the nation’s largest independent real estate companies. “Not only can you receive a large sum of money from the government, you’ll also likely purchase your next home for less money and at a lower interest rate than you could have in years past or years to come.”

To qualify for the tax credit, the repeat buyer must have signed a binding contract by April 30, 2010 and close on the home by June 30, 2010. Tax credit eligibility is subject to income limits, $125,000 for single buyers and $225,000 for couples. In addition, the sale price of the home being purchased can not exceed $800,000.

There is no requirement that existing homeowners must have sold their home to be eligible for the $6,500 tax credit. However, Weichert encourages existing homeowners who want to benefit from this incentive to move quickly, particularly those who prefer to first sell their current home before purchasing a new one.

“Typically, it takes three months or longer to sell a home. That’s why it is critical repeat buyers put their home on the market right away. Otherwise they might not leave themselves enough time to both secure a buyer for their current house and find a new home by the April 30 deadline,” added Weichert.

For more information, visit www.weichert.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.


Posted by Jennifer Dodge on January 23rd, 2010 8:52 AMPost a Comment (0)

Mortgage Rates Steady at Aggressive Levels
January 20th, 2010 12:25 PM

Mortgage Rates Steady at Aggressive Levels

by Victor Burek -
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Mortgage rates improved last week after the Treasury Deparment completed debt auctions totaling $84 billion. On Friday, lenders improved rate sheets to their best levels all week (best in about a month really!). All US markets were closed yesterday in honor of Martin Luther King Jr. day.   A few lenders issued rate sheets, they were unchanged from Friday.

We had no major economic data releases this morning; however, Citigroup announced third quarter results matching expectations of a 0.33 cent loss per share but missing on total revenue.  In total, Citigroup lost $7.6 billion mainly due to a pre-tax charge of $8 billion which repaid TARP bailout funds. At 1pm today the National Association of Home Builders will release their Housing Market Index. This survey gives the market a view into the sentiment of home builders. If the housing market is to help add momentum the overall economic recovery, home builders will have to feeling positive enough to start building homes again.

Tomorrow  data picks up with the weekly Mortgage Bankers Associations Application Index followed by Housing Starts which will give market participants a look into the strength of the housing sector.   We also get a reading on inflation with the Producer Price index. 

Thursday brings us the weekly jobless claims, leading indicators and Philadelphia Fed Survey.  In addition to the data we also get another round of treasury auction terms from the U.S. Department of Treasury. They will  announcethe size of next week’s offering of 2 year, 5 year and 7 year notes.   The additional supply of debt may push benchmark Treasury yields higher to attract buyers which can cause mortgage rates to rise as well. 

Friday we have no economic reports hitting the news wires. For more on the week ahead, check out the MND STORY.

Reports from fellow mortgage professionals indicate lender rate sheets to be unchanged this morning.  The par 30 year conventional rate mortgage remains in  the 4.875% to 5.125% range for well qualified consumers, a few lenders are still offering 4.75%, but not many.  To secure a par interest rate you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point loan origination/discount/broker fee.  You may elect to pay less in closing costs but you will have to accept a higher interest rate.  If you are looking to secure a 15 year term, you should expect a par rate in the 4.25% to 4.50% range with similar fees. Again, these are par mortgage rates, consumers will likely need to pay at least one point to get these rates.

Last week I advised that I am providing lock float guidance on a very short term basis. In the near term, as in this week, I expect to see only marginal mortgage rate improvements, nothing huge. I am thinking that locking before Thursday will likely be the best strategy (lock before the Treasury announces debt supply later this week).

I think I must repeat what I wrote on Friday afternoon:

While I am comfortable with a float recommendation into next week, I must share with you that we are very defensive of these mortgage rate improvements. We don't see gains being a long lasting trend. With that in mind, if you are closing in the next month, you should be looking to lock in soon. If you are a "fence sitter" or have an Interest Only ARM that is about to adjust,  you should be considering a refinance before interest rates start rising. I hope its obvious how defensive we are...floating one day at a time.

I am in need of some participation from consumers that read my blog.   Starting this year, there is a new good faith estimate that must be used.  It is intended to more accurately present the closing costs of a loan to the consumer and prevent added fees once the good faith estimate has been provided. 

Among the mortgage professionals I speak with on a daily basis, the new GFE hasn’t been met with much optimism.   The consumers I have spoken with have found it to be very confusing.  A one page document has now been expanded to three pages in an attempt to make it easier to understand.  If you are a consumer that has received the new GFE from your mortgage professional, please provide us your feedback.   Do you find it to be easier to understand?  What do you like or dislike about it?


Posted by Jennifer Dodge on January 20th, 2010 12:25 PMPost a Comment (0)

Just Listed! 17 Blue Heron S Santa Rosa Beach, FL 32459
January 13th, 2010 9:27 AM
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$456,000.00
17 Blue Heron S

Santa Rosa Beach, FL 32459



Beds: 4 Rooms: 0
Full Baths: 3 Sq. Ft.: 4224
Garage: 0 Built: 2002
 

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.
 

If you have any questions
about this property or
require more information,
please feel free to call.

Jennifer Dodge
The Realty Firm, Inc.
8502591318
www.searchdestinfloridahomes.com



 
  Visit this listing here

Posted by Jennifer Dodge on January 13th, 2010 9:27 AMPost a Comment (0)

Sellers what this means to you - Fannie Mae Adopts New REO Policy
January 12th, 2010 2:20 PM

Posted by Jennifer Dodge on January 12th, 2010 2:20 PMPost a Comment (0)

Rates are Edging up.
January 12th, 2010 2:08 PM
I have noticed that VA rates are edging up. After the end of the month, I think they will be over 5%. If you are thinking about buying, now is the time. Sellers and builders are paying more closing cost than ever, and prices are historically low.

Posted by Jennifer Dodge on January 12th, 2010 2:08 PMPost a Comment (0)

Just Listed! 17 Blue Heron S Santa Rosa Beach, FL 32459
November 17th, 2009 9:46 AM
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$509,000.00
17 Blue Heron S

Santa Rosa Beach, FL 32459



Beds: 4.0 Rooms: 0
Baths: 3.00 Sq. Ft.: 4224.00
Garage: 0 Built: 2002
 

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google Earth satellite
images, and much more.
 

If you have any questions
about this property or
require more information,
please feel free to call.

Jennifer Dodge
RE/MAX Southern Realty
8502591318
www.searchdestinfloridahomes.com



 
  Visit this listing at Here

Posted by Jennifer Dodge on November 17th, 2009 9:46 AMPost a Comment (0)

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