Category Archives: Financial
Freddie Mac and Your Mortgage
What is Freddie Mac and what is its role in the housing market? Watch this video and find out how Freddie Mac connects borrowers, lenders and investors from around the world to make home possible for millions of America’s families and renters.
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Orlando Housing Report: October 2011
“October marks the first time since March that overall sales have indicated a month-over-month improvement,” says ORRA Chairman Mike McGraw, McGraw Real Estate Services, PL. “This additional activity can be attributed to a multitude of local factors — such as low interest rates, a higher percentage of “normal” sales, and a steady incline in median price — that are encouraging buyers to take advantage of today extraordinary market conditions.”
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Central Florida real estate median home price for September 2011
According to the Orlando Regional Realtor Association (ORRA), the Central Florida real estate median home price for September 2011 was 9.52% higher than September 2010. The median price for September 2011 was $115,000 and for September 2010, it was $105,000. We stayed the same for August ’11 to September ’11 in our median price, but for three months in a row, we are higher than the previous years median price. This is a great sign at seeing our prices hitting bottom. Our current inventory levels have dropped again and are at the lowest levels since 2005. We have seen this inventory reduction trend over the past 15 months. We are now at 9,931 homes on the market or a 4.83 months supply. A 6 months supply is a good balance between buyers and sellers. With home inventory at this level and interest rates at historic lows, we continue experiencing multiple offer situations on many deals. It’s a great time to buy Central Florida real estate!
Manny Barrios ~ REALTOR® 