Orlando Real Estate News

What about these homes for sale?

• 15073 Spinnaker Cove Lane Winter Garden FL 34787
• 5952 LAKE MELROSE DRIVE ORLANDO FL 32829
• 7636 Wethersfield Drive Orlando FL 32819

Federal Housing Administration (FHA) Commissioner David Stevens announced   policy changes to bolster the FHA's capital reserves, while allowing the agency to continue to fulfill its purpose of providing access to home ownership for under-served communities.

Read Also:How Does The FHA Loan Program Work In Greater Orlando, Florida?

The reported FHA Policy changes include:

Mortgage Insurance Premium... which you may see as MIP is going from 1.75% to 2.25%.  Target Date:  Spring of 2010.

Seller Concessions... FHA has allowed up to 6%. This will be reduced to 3%.  Target Date:  Summer of 2010.

Credit scores... Used to be the minimum credit score was 620... the change will be 580. If the score is above 580 the applicant may qualify for the 3.5% down payment. If the applicant's credit score is below 580 they will be required to put at least 10% down. Target Date:  Summer of 2010.

While these changes present challenges to the prospective Orland home owner, in the long-run they may benefit both the program and the home buyer.  The  Orlando home buyer will go into his commitment financially stronger, and their success will ensure the program can be offered to even more prospective FHA borrowers.

Read Also:  Down Payment Assistance Programs

For information on great real estate buys in Orlando and nearby suburbs,
contact the Orlando Property Group, your short sale and luxury home specialists.

Or Search Now for Real Estate & Homes in the Orlando Florida Area

Looking for specific information regarding Orlando Florida real estate prices and communities? Get Your Free Market Snapshot

Perhaps one of these home would interest you?

• 1714 Canoe Creek Falls Drive Orlando FL 32824
• 530 E Central Boulevard Orlando 32801
• 709 Westcliffe Drive Winter Garden FL 34787

Sanford FL Market Update - February 2009

Sanford, Florida, is the seat of Seminole County, known for its social and cultural activities as well as being a golfer's paradise. Some of the most prestigious golf courses in the world are within minutes, and the city itself manages 18 parks and provides access to all kinds of water sports on Lake Monroe. Orlando with all its amusement centers is only 24 miles southwest.

Real Estate Update for Sanford

This monthly update provides residential real estate listings and sales statistics for Sanford, Florida. While this is an accurate overall snapshot of what's happening in the local housing market, sales trends vary from neighborhood to neighborhood and from budget-priced condo to comfortable single-family home to elegant luxury estate.

Active Listings (Real Estate for Sale):
Property being marketed for sale by a Realtor®, as contracted with the seller.

February 2009:
 • Total active listings: 844
 • Highest listing price: $3,000,000
 • Lowest listing price: $14,900
 • Average listing price: $269,148
 • Average days on the market: 187

January 2009:
 • Total active listings: 878
 • Highest listing price: $3,000,000
 • Lowest listing price: $22,500
 • Average listing price: $266,545
 • Average days on the market: 181

Read more »

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