May is strong contracts month for central Florida

This chart shows contract for May 2012 exceeded May 2011 by +64% in central Florida.
Reports that Olrando and Tampa are really heating up seems to be supported with this
graph from My Florida MLS tracking contracts.

Real estate price declines slowing in USA

The S&P/Case-Shiller index for residential real estate showed home prices across the US (in 20 states) dropped 1.9% in April 2011 vs 2010. This is the smallest decline since November 2010. In March this index showed prices dropping 2.6%. This again points to a continuing recovery in the housing market.

New home sales hit 2 year high

The Tampa Tribune reports new home sales in May reached 369,000, units up 7.6% from April. This was the best month since  April 2010. The estimate had been 347,000 units. Falling prices, and lower interest rates, are helping fuel the new housing recovery. The median sales price rose 5.6%  to $234,500 compated to May 2010. The increase was led by the Northeast up +37%, and the South +13%. The Midwest was at 11%, and 3.5% in the West. This is another sign the housing market is showing signs of recovery.

All sports FM station coming to Tampa

Tampa will have its own FM all sports channel ( CBS 98.7 ) in August. Content can be heard at
98.7 FM, and also 1010 AM. You can access it online at 987thefan.com. Mike Pepper is the program director. He has been sports program director for 1010 Sports (WQYKAM) for the past 6 years.

Caution... Alligator ahead

If there aren't enough things to look out for when driving, now alligators are jaywalking. Sunday night, a gator wandered out onto interstate 275 near Gandy Blvd. In a period of 30 mintues, two cars
had hit the alligator causing damage to both. One car sustained $2000 worth of damage and another  $200. This is mating season and gators are on the move. Be alert and avoid a gator, if you see one in the road.

Mortgage boom in Florida

Low lending rates have led to an increase in lending applications of 189% in one year. Arizona and Nevada are the only two states exceeding Florida. The average 30 year loan has remained below 4% since December, with the exception of one week. This past week, the average 30 year rate stood at
3.71%, while 15 year notes were at 2.98%. These attractive rates are spurring sales volume in Florida. With these lower rates, homeowners have more money to spend.

Nice homes sell fast

Homes coming onto the market between $100.000 and $300,000 are selling fast. Many of these have
had multiple offers the first day on the market. What is causing this? Non-distressed properties are in
demand. Buyers are looking for "move in condition" homes which are priced well. There is less than a 2 month supply of homes meeting these conditions. So, when they come on the market, they attract
buyers quickly. If you are a buyer, you need to move quickly on these homes.

Wells Fargo and Tampa team up on foreclosed properties

Tampa Mayor, Bob Buckhorn, has joined forces with Wells Fargo in a new $12 million home ownership program designed to convert foreclosed homes into sales. The new program would allow up to $15,000 per home for down payment assistance, or to the neighbors, should they want to fix the home up. The program is titled "Neighborhood Lift"... designed to stabilize communities. Wells Fargo announced it will be lending upwards of $500 million to Tampa homeowners over the next 5 years. Neighborhood Lift does have an income limitation for a family of four at no more than $67,000. If the new owner stays in the home 5 years, they do not need to pay the assistance back. This is a creative way to help rejuvenate and restore inner city neighborhoods.  

Wife vs. Mistress & Sales

A doctor, a lawyer and a real estate agent were discussing the relative merits of having a wife or a mistress.

The lawyer says: "For sure a mistress is better. If you have a wife and want a divorce, it causes all sorts of legal problems."

The doctor says: "It's better to have a wife because the sense of security lowers your stress and is good for your health."

The real estate agent says: "You're both wrong. It's best to have both so that when the wife thinks you're with the mistress, and the mistress thinks you're with your wife -- you can go and sell some homes.

                                                                                                           Courtesy of Realestatehumor.com web site.