Home for Sale in Retreat at Wekiva

This is home is HOT! This is your chance to preview this home before it has even been listed in the MLS!!

This is an absolutely gorgeous 3/2/2  PLUS office/den/ or bonus room in the highly desirable gated community of Retreat at Wekiva in Sanford FL.  It offers more than you could imagine in upgrades and openness. The brick paver drive is just a sample of the details you will find upon entering this home. The large master bedroom features his and hers closets,  as well as a stunning master bath with a large open shower for two and a truly luxurious lay out that must be seen!

The kitchen is beautiful and modern with 42″ dark cherry cabinets and solid surface corian counter tops as well as an adorable bay windowed breakfast nook and a breakfast bar that looks over the bright and light family room.  The split bedroom plan helps to give everyone their privacy and are separated by small hallways. The bonus room is truly versatile and  could be used as an office, media room, or extra bedroom and features gorgeous leaded glass doors.

Invite your friends for your next summer BBQ on your covered and private back patio or just relax and enjoy the serene view of the pond while drinking your morning coffee.

This home is offered at a value of $199,900 ! Don’t miss your chance to own this exceptional home! Call Jose Rodriguez of Watson Realty at 407-340-6858 to schedule a showing today!!

Click here for more information about the Retreat at Wekiva Neighborhood in Sanford FL

4 Ways to Find Bank Owned Properties in Sanford FL

Most savvy buyers in the current market focus their home search around bank owned homes (so called REO properties). “Buying a foreclosure” has become quite a buzz phrase, not only among first time home buyers. Everyone wants to take advantage of these great deals. But how can you stay up to date on all those new foreclosures entering the real estate market so you can quickly (because oh yes, quickly you should act!)?

Here’s the solution: If you are a home buyer looking for foreclosures in Sanford FL, you have several FREE options to stay informed on hot new bank owned properties as they hit the market:

1. Subscribe to the Sanford Bank Owned Homes RSS feed (almost instant alerts, up to 24 hours delay): Sanford FL Bank Owned Homes RSS Feed
   (Simply click the link and subscribe via your favorite Reader)
2. Register for an account and set up your own customized Email alerts via our map based home search engine (alerts are emailed once a day)
3. Bookmark this page and search the map below for new bank owned homes in Sanford on a daily basis
4. Fill in the form below and we will set up customized bank owned home search Email alerts based on your criteria (instant alerts – as they hit the market)

Now, the obvious “advantage” of RSS feeds is that you can stay completely anonymous while using this service – we will not ever see your name, Email or other information. However, keep in mind that RSS feeds are not instantly feeding from our MLS home database into your reader (it may take up to 24 hours for updates to show). So the only way to really get notified instantly (the minute a home enters the market) is option #4.

We just listed a great condo in Sanford. If location is important to you, this is your chance! This gorgeous and immaculate 2/2/1 plus den is located in Dunwoody, one of Sanford’s most desirable gated town home communities. You will be only a few minutes from I-4, 417, top rated schools, dining, shopping and entertainment of Colonial Town Park and the Seminole Town Center Mall. Even though you are close to so many things this peaceful community will be your oasis after long workdays. Relax or meet your neighbors at the resort style community pool. Invite your friends over for a BBQ and enjoy your private back porch.

With its large open kitchen overlooking the spacious dining and family room, this cozy home is great for entertaining yet keeping it private with a split bedroom plan. The master suite has a large walk-in closet and master bath featuring a double sink vanity. The secondary bedroom and den are larger than average and offer enough space for a guest room, nursery, office or workout room. The one car garage offers great storage space and comes with two openers. This condo was built in 2006 and offers you over 1,700 square feet of living space.

Come see for yourself why you might just fall in love with this home! The asking price is $150,000 – make your offer today!

Click here for more information about the Dunwoody Sanford Townhome Community

The FHA, one of the country’s leading mortgage insurers has announced that it will be increasing fees, down payments, and restricting the amount a buyer can expect contributed by the seller at closing.

What this means for the average buyer is that obtaining an FHA loan may be both more difficult and more expensive. Over 30% of home loan borrowers use FHA loans because they have always offered the lowest down payment (3.5%), allowed the buyer to use “gifted” money as a down payment, and allowed sellers to contribute up to 6% towards closing costs. These measures greatly reduced the total amount of money a buyer would need to purchase a home, making an FHA loan ideal, especially for first time home buyers.

All of this expected to change by early summer 2010. Borrowers with credit scores less than 580 will need to come up with a minimum of 10% of the purchase price to put down. And all borrowers can expect a 3% maximum seller contribution of closing costs.

Also set to increase by spring 2010 are the upfront fees for FHA insurance. When FHA loans go into default, FHA reimburses the bank for the loan, because of this FHA charges an “insurance premium” on all loans. The upfront fee or what the buyer would pay at the closing table will go up from 1.75% currently to 2.25% in the spring. On a $100,000 loan that’s a difference of $500.00, but this fee can still be rolled into the loan and does not need to be paid in cash.

FHA will ask Congress to also raise the annual premiums. Annual Premiums are generally broken down into monthly payments and paid with the mortgage note each month. They are currently .55% for loans with less than 5% down and .50% for homes with more than 5% down. On a 100k home that equals about $45 and $41 per month respectively. What FHA would like to do is reduce the upfront premium by .25% and tack this amount on to the annual premium.

On the bright side, FHA has temporarily lifted the restrictions for buying a home that the seller has owned for less than 90 days. This measure should help to create new options at better prices for FHA borrowers, as they will now be eligible for certian bank owned homes.

Here is a simple breakdown of the changes:

• 3% limit on seller contributions
• 10% down payment for borrowers with less than 580 FICO score
• FHA Insurance “Up Front Fee” will increase to 2.25% (Of money borowed) but can be
  rolled into loan
• Possible increase in FHA insurance  “annual fee” (Broken down and paid monthly)
• One Year Temporary Waiver, for 90 day “flipping” rule

This short video is provided by the Orlando Regional Realtor Association (ORRA) and talks a bit about the current Orlando real estate market.

According to ORRA, 2009 was the year the market took some healing steps towards a balanced, normal market. The combination of low interest rates, pent up demand, historic affordability and the federal first-time home buyer tax credit all helped to increase market activity. In fact, as opposed the prior two year, 2007 and 2008 where sales had dropped almost 40% and 12% respectively, 2009 finished with a 59.3% sales increase. Almost 24,000 homes sold – not bad! And with all this demand, the supply of available homes has dropped to around 15,500 homes (down over 30% from 2008!) which in months supply of inventory equals about 7.5 months. Compared to a balanced market which should have about 5-6 months of supply, the Orlando real estate market is definitely getting a lot closer to that.

So without further ado, here’s the current Orlando real estate market update video …

If you are currently one of the many buyers looking to snatch up a good deal in the Orlando real estate market, then you might be wondering about the pricing of these properties. Thanks in large part to the mortgage crisis, prices are no longer based just on comparable sales (although, they do mostly start at this point) the actual asking price can vary largely based on whether the home for sale is a short sale, a bank owned, or a private seller.

A short sale occurs when the actual value of the home is less than the current mortgage. In this case the homeowner negotiates with the bank a price that seems fair for the market/neighborhood. Often the end result is an asking price right around true market value. Of course the asking price is always negotiable, but it is important to remember that your final offer will be presented to the bank, and the decision to approve the sale is in their hands.

A bank owned home is typically listed with an asking price below market value. The bank does this for a couple of reasons. One of the main reasons, is that they are motivated. They have already taken a loss on the home’s mortgage and everyday it sits on the market they lose more money. Secondly, they know that pricing it aggressively, or below market value, will generate more potential buyers and in return more offers. Keep in mind that this strategy can result in bidding wars as well as in a higher actual selling price.

A property that is being sold directly from the home’s owner is generally listed just a bit above market value. This is done to leave some room for negotiation as well as to give the seller the funds needed to close. These “standard” sales are usually the quickest and simplest way to buy a home, often having closings scheduled for just 30 days after the offer is accepted.  When looking for a home that is move in ready or can close the fastest with the least headaches, these are the homes to look for.

House for Sale on Gemgold Court Windermere

Summerport is a desirable new community in Windermere. Mainly built by Ryland homes, this community offers its residents great amenities including a club house with fitness center and a large community pool.Furthermore there are also bike trails, volleyball and basketball courts and playgrounds to spend time with your friends and family. The subdivision is located conveniently to shopping, dining & entertainment and, of course, the theme parks of Orlando. Windermere is a very popular area within Orlando: live close to multi million dollar neighborhoods and top rated schools.

This virtually new waterfront pool home on a corner lot just came back in the market so we wanted to inform our readers about this great opportunity.

The spacious two story home is located on Gemgold Court and offers a large Master suite with walk in closet, dual sinks, garden tub for relaxing bubble baths and a separate glass enclosed shower stall. The kitchen features a cooking island and overlooks the open family room. You will love this area of the home for entertaining. Take advantage of the covered patio with serene water views: invite your friends for your next summer BBQ and live the Florida lifestyle you deserve.

Quick Info: 4 bedrooms, 2.5 bath rooms. 2 car garage. Built in 2006 by Ryland Homes. Pool. Corner Lot. Water Front. The home is listed at $224,900.

House hunting this time of year is always a treat for home buyers because they get to see some of the best hidden displays of holiday cheer in the area. But shouldn’t everybody be privy to this information? Grab a coat and a cup of hot cocoa because here is a list of some of the best neighborhoods to see homes exquisitely decorated with lights in Seminole County, Florida.

If you know of a neighborhood that you think should be featured on this list, feel free to comment here and let everyone know

Sanford/Lake Mary:

• FoxSpur - I-4 take 46 West about 4 miles, Left on Longwood-Markham Rd, Right on Steeplechase.
• Lake Sylvan Cove – I-4 to Lake Mary west, Right on Markham Woods Rd, Left on Markham Rd, Right on Lake Markham Rd, Lake Sylvan Cove on Right.
• Cardinal Oaks – I-4 east to Lake Mary Blvd, Right on Country Club to Main Rd

Longwood:

• Wingfield Reserve - I-4 to 434 to Markham Woods rd, Left into Wingfield Reserve
• Springs Landing – I-4 to 434 West to Markham Woods Rd. North on Markham Woods for approximately 1 mile then turn left on Springs Landing Blvd
• Markham Meadows – I-4 East, take Longwood exit, go West, First right on Markham Woods Rd. Right on Moncur Lane
• Foxborough Farms – I-4 west to right on to 434, right on Wekiva Springs Road, right on Welch Road, left into Foxborough Farms

Altamonte Springs/Maitland:

• Spring Valley – I4 to N on SR 436 to (R) on Wymore Rd. (R) on Spring Valley Drive
• Hidden Harbour – I-4 to Maitland Blvd- left on Maitland Ave- left on Magnolia- Veer right
• Wellington – From 17-92, E on Spartan, Rt on Cherrywood, L on Birchwood to Derbyshire, Rt on Wellington

A great city to see holiday lights in the Central Florida area is without a doubt Mount Dora. The downtown area and park sparkle in thousands of lights. If you feel like going on a romantic Christmas walk it is really worth the ride out to Lake County.

Looking for some holiday action in the Orlando area? Click here for a list of holiday events 2009 in Orlando FL

Sarah and Rob, congratulations on your new home in Sanford FL! We hope you get to enjoy your beautiful home for many years to come and we are excited that, in the end, you found your perfect home!

We had the pleasure to help Rob and Sarah, a young couple that had recently moved to the Lake Mary area, with their home search. Rob and Sarah were first time home buyers and after moving here, had decided to live in a nearby apartment complex for a year in order to get to know this area a bit better. That is by the way a very smart way to really figure out where you want to be located. Taking your time will help you figure out how important location is, for example, how important your commute really is, or how much you really enjoy having dining and entertainment close by. So when Rob and Sarah contacted us they really knew what they wanted and were determined to find it – and so were we!

After only a couple of times looking at homes they found a home that they liked and put an offer on it. However, since it was a short sale it did end up taking too much time and so we had to move on. Turns out, that was a good thing because just around that time, their beautiful home-to-be popped up in the MLS system and won them over with its charm.

Hardly anyone likes to be quizzed but sometimes it is not a bad thing to take a test. Especially when it helps you to take an important, life changing decision. That said, RealEstateWall would like to challenge every soon-to-be first time home buyer (whether you are in Orlando or elsewhere in the world) to take our little first time home buyer quiz. Don’t worry, it’s nothing serious, just five simple questions that might bring you closer to finding out if you are ready to make your move

And now, enjoy – and remember to share and compare your results with family and friends!