The Botelho Team- David and Sandra  "Twice the Service Double the Results"

$183,900.00 Tulio Way Paseo Fort Myers, FL 33912 Beds: 2 Rooms: 0 Full Baths: 3 Sq. Ft.: 0 Garage: 0 Built: 0   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. David Botelho Prudential Florida Realty 2399858422 www.fortmyersnaplescapecoral.com     Visit this listing here

Housing Indicators

• Florida existing home sales (year-to-year comparison) 61%
• Florida existing condo sales (year-to-year comparison) 111% 
• Florida existing home median price $139,000 
• Florida existing condo median price $104,400 
• Florida consumer confidence 69
• National existing home sales (month-to-month, all housing types) 7.4%
  
• National existing home median price $172,600 
• National mortgage rate 5.09%

Fla.: Existing home, condo sales up in November

ORLANDO – Dec. 22, 2009 – Florida’s existing home sales rose in November, marking 15 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®.

Existing home sales rose 61 percent last month with a total of 14,026 homes sold statewide compared to 8,694 homes sold in November 2008, according to Florida Realtors. Statewide sales of existing condos increased 111 percent last month compared to November 2008’s sales figure.

For the second month in a row, all of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales and higher condo sales in November. A majority of the state’s MSAs have reported increased sales for 17 consecutive months.

Homebuyer Assistance Programs
 
On Nov. 6, 2009, President Barack Obama signed into law an extension and expansion of the $8,000 first-time homebuyer tax credit. Among other provisions, the extension adds money for certain move-up buyers; creates one deadline for signing a contract and a later deadline for closing; changes income requirements; and limits a purchased home’s cost to $800,000. 2009 Florida Realtors® President Cynthia Shelton notes that extending the buyer tax credit and expanding it to reach more homebuyers is the right thing to do, “as it’s critical to maintaining positive momentum in the housing market and in the overall economy.”

As details are clarified and are available, tax credit information will be updated on the Homebuyer Center, which offers Florida Realtors® the tools they need to help potential homebuyers and sellers benefit from these homebuyer assistance programs.

• Updated: What you should know about the $8K tax credit (PDF)
  
• Updated: Florida Homebuyer Opportunity Program flyer (PDF)
  
• Updated: What you should know about the FHA downpayment plan (PDF)
  
• 8,000 reasons to buy your first home now (PDF)   
  
• First-time Homebuyer Tax Credit IRS Form 5405 (PDF)

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UF study: The price is right, so buy now
 

GAINESVILLE, Fla. – March 9, 2007 – Hopeful homebuyers in Florida should act now: The price is right as the state’s single-family residential housing market bottoms out, according to a University of Florida study released today.

“If you’re thinking of buying a house, there’s probably not much to be gained by holding out at this point,” says Wayne Archer, director of UF’s Bergstrom Center for Real Estate Studies. “It doesn’t look like prices are going to fall anymore.”

The quarterly survey of experts in the real estate industry completed in January shows that the share of respondents observing a drop in single-family housing prices has dipped, while a growing number find prices staying even with inflation, Archer says.

“We see that as a benchmark,” he says. “When prices maintain the same level as inflation, then we’re probably in some kind of equilibrium. It indicates the market is stabilizing.”

Rates on 30-year home loans fall to 5.09 percent

WASHINGTON – Jan. 8, 2010 – Rates for 30-year home loans inched downward this week, the first decline in a month, but remained above last month’s record lows.

The average rate on a 30-year fixed mortgage was 5.09 percent this week, down from 5.14 percent a week earlier, mortgage company Freddie Mac said Thursday.

Rates dropped to a record low of 4.71 percent in early December, pushed down by an aggressive government campaign to reduce consumers’ borrowing costs, but then rose steadily for the rest of the month.

Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day, often in line with long-term Treasury bonds.

The Federal Reserve is pumping $1.25 trillion into mortgage-backed securities to try to bring down mortgage rates, but that money is set to run out next spring. The goal of the program is to make homebuying more affordable and prop up the housing market.

The central bank’s policymakers have been conflicted about whether to expand or cut back a program intended to drive down mortgage rates and bolster the housing market, according to meeting minutes released Wednesday.

Some Fed policymakers argued that the program might need to be expanded and extended beyond its current end date of March 31, arguing that the additional dose of stimulus would be especially needed if the economic recovery were to weaken.

However, one member thought the program could be scaled back given the improvement in economic and financial conditions.

Getting the housing market back on firm footing is a key ingredient to a lasting recovery. The collapse of the housing market, which dragged down home prices with it, was the catalyst for the longest and worst recession to hit the country since the 1930s.

The average rate on a 15-year fixed-rate mortgage fell to 4.5 percent, down from 4.54 percent last week, according to Freddie Mac.

Rates on five-year, adjustable-rate mortgages averaged 4.44 percent, unchanged from a week earlier. Rates on one-year, adjustable-rate mortgages fell to 4.31 percent from 4.33 percent.

The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.

The nationwide fee for loans in Freddie Mac’s survey averaged 0.7 point for 30-year and 15-year loans and 0.6 point for five-year and one-year loans.