Throughout the latest housing boom, remodels were all about big and bold. Now there is less emphasis on luxury and appearances-for-appearances sake. Take advantage of this trend with a focus on practicality in any remodeling project. It will make the home more competitive at resale and will stretch the dollar cost further.
- The Orlando Sentinel, 2012 -
Look for the same in 2012 as in 2011 for the new-home market. There will be a gradual increase in housing starts in Prime locations. Builders have been holding their prices on A- or B- sites and in some cases even raising them as reported by Metrostudy Inc., a regional research firm.
Good news as well from the Orlando Regional Realtor Association. In its core market (ending November) the active listing inventory had fallen to 10,000 available units, down from 15,000 at the beginning of 2011.
As of the middle of last month, 62 percent of condo, townhouse and villa sales involved distressed properties, with half of the single family homes sales falling into this category in the core Orlando market.
- ORRA -
An interesting old saying about the general make up of HOA memberships (plus or minus a 5 percent margin of error) is that 80 percent of the members do not care, 5 percent do care yet do not help, 10 percent are the workers, and 5 percent are the trouble makers.
(Sound familiar?)
Perhaps this is why many boards become complacent because the majority of members are not active in the affairs of the association.
- R. White, Community Living/Orlando Sentinel -
Who pays to fix roads and drainage defects in a community: HOA or developer?
The Florida Supreme Court is scheduled to hear legal arguments on the question during the course of this week. A lower court previously ruled it was the HOA’s responsibility. However, last year Florida’s Fifth District court of Appeal ruled differently. In the next several months there will be a defining decision rendered.
Whichever way the decision goes, it will prove costly for one side or the other.
Home Affordable Refinance Program
Beginning today homeowners that are upside down in their properties have the opportunity to apply for a new updated version of the Fannie Mae and Freddie Mac refinance program. This will help a large number of home owners that are underwater with their mortgages, who stayed employed and continued making their payments.
Home owners that have missed mortgage payments in the past six months do not qualify.
This is one of the first new programs that will not require an appraisal for the purposes of valuing the property.
Expect the process to take some time though. Since it is a start up program, the ‘window’ to approval could be up to 4-6 months.
How to apply? Contact your mortgage lender, or any lender approved to do business with Fannie Mae or Freddie Mac and ask for an application.
Pool pump, faucet or bathroom fixture dripping? Interesting to note how much water can be lost over the course of a year.
A drip a second will waste up to 1,661 gallons over the course of this period.
- Energy Star.gov -
Buyer Nationality
Recent data shows that 25% of all sales in Florida are foreign national. Of those sales, nearly all are for cash.
- Osceola REVIEW, November 2011 -
Phase 1
Polk County’s new NE Regional park is scheduled to open Jan/Feb of next year with multi-purpose sports fields, tennis courts, and a boat dock. Phase two will begin development in the near future.
This 81 acre gem is something that has been needed for a long time by the NE Polk County residents and is located on the US 27 corridor just south of US 192.
Seems granite counter tops have some competition these days.
Many designers and homeowners are beginning to turn to glass, manufactured stone, metal and other materials that work well for people who actually cook in addition to those who see the kitchen as a decorative accessory. Everyone has granite and apparently it is becoming tiresome.
When lighted from below, glass counter tops can add an appealing glow to the kitchen. Plus, they add a hygienic quality as well. Stainless steel, engineered quartz, soap stone, marble, lava stone and even wood is all becoming popular as an alternative material.
Contemplate a ’new look’ when considering a design change.