TALLAHASSEE, Fla. – April 25, 2014 – The pace of Florida home construction is more than a positive trend for Florida real estate agents, according to a report from Florida TaxWatch. Housing starts, as a leading economic indicator, provide evidence that Florida is rebounding from the Great Recession.

“Floridians are seeing evidence of economic recovery in every corner,” says Dominic M. Calabro, President and CEO of Florida TaxWatch. “New construction demand is growing, job creation is up, and for the first time since the recession, the state has a budget surplus and is sharing large tax cuts with hardworking Floridians. These positive indicators are giving taxpayers confidence, allowing them to spend more and generating state revenues.”

The TaxWatch report finds that Florida averages more than 4,600 new private single housing starts each month – more than double the monthly averages in early 2009. Furthermore, future housing start projections are expected to double by 2016 for single-family homes, while multi-family new construction should double by 2017.

Positive housing starts also have a ripple effect on the state economy. They provide construction jobs and contribute to the growth of other sectors, such as housing services, home improvement stores and other retailers, along with Realtors and title companies.

“Increased investment by individuals and companies helps increase Florida’s growth rate, giving businesses confidence to hire more workers,” says Jerry D. Parrish, Ph.D., Florida TaxWatch chief economist. “This is one more positive sign of the growing momentum in Florida’s economy.”

The full TaxWatch economic commentary can be read online.

© 2014 Florida Realtors®

SoliVita Home Values Continue To Increase For 2014

Posted by admin April - 16 - 2014 - Wednesday ADD COMMENTS

Hi guys. Here’s a market report for Solivita comparing the 1st quarter of 2014 with the 1st quarter of 2013. This will show you the trend for home prices in Solivita.

This data was pulled from the Mid-Florida Regional Multiple Listing Service and is deemed to be reliable. All Data is on Solivita

Period

Number

Of Sales

REOs

And SSs

Average

Price

Price Per

Sq Ft

Current

Inventory

1st Q 2013

66

15(23%)

$164,500

$94.00

na

1st Q 2014

54

10(19%)

$183,000

$ 104.00

118

Change

-19%

-5%

+9%

+10%

So what does this all mean? Well, the first thing, that stuck out like a sore thumb, is that 19% of the resales in Solivita his year were either REOs (bank owned) or short sale (SSs) properties. Compared with  23% for last year. So..distressed property sales in  SoliVita are declining. That’s a very good thing for the SoliVita community.

Now according to the chart  property values in Solivita have increased 9% in the last 12 months. The average sales price in SoliVita right now if $183,000 for a 1,731 sq foot (heated area) home. 9% appreciation is very good and is higher than the Florida average of 5%.

Inventory has been about the same all year. There are currently 126 properties for sale in SoliVita. That’s a little more than 6 months of inventory. It’s a Buyer’s market in SoliVita right now.

Here’s the lowest priced Solivita home for sale today.  A 1253 sq ft Zinfandel Model built in 2005. This SoliVita resale is located in the Venezia neighborhood and is priced at  $109,000. That’s only $87 per sq foot and is a good deal based on recent sales in SoliVita.

Here’s the highest priced home for sale in Solivita today. This 3057 sq foot home has 3 bedrooms, 3.5 baths and an inground swimming pool. It was built in 2012 and is currently priced at $487,900.

My opinion, for the future, is that property values in Solivita should continue to experience appreciation in the 5% to 8% per year range. This is based on the fact that the baby boomers are a huge part of the 55+ Adult Community market right now and are very much attracted to these types of communities.

So there you have it, Broker Bryant’s SoliVita Market Report.  Any questions?

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Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas

Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales, Orlando Florida Short Sales, Celebration Florida Short Sales, Winderemere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

Copyright © 2013 http://www.brokerbryant.com/ | All Rights Reserved

According to Fannie Mae’s February 2014 National Housing Survey results…….

Homeownership and renting

• Month-to-month, the average 12-month home price change expectation increased to 3.2 percent.

• The share of people who say home prices will go up in the next 12 months increased 7 percentage points to 50 percent, while the share who say home prices will stay the same decreased by seven percentage points to 38 percent.

• The share of respondents who say mortgage rates will go up in the next 12 months increased by 1 percentage point, to 56 percent.

• Those who say it’s a good time to buy a house increased from last month, up 3 percentage points to 68 percent.

• The average 12-month rental price change expectation increased from last month to 4.3 percent.

• 51 percent of those surveyed said home rental prices would rise in the next 12 months, an increase of 3 percentage points from last month.

• 45 percent of respondents thought it would be easy for them to get a home mortgage today, a 7-percentage point decrease from last month.

• The respondents who say they would buy if they were going to move fell 4 percentage points to 66 percent, and those who say they would rent increased to 30 percent.

The economy and household finances

• The share of respondents who say the economy is on the right track decreased 4 percentage points from last month to 35 percent.

• The percentage of respondents who expect their personal financial situation to get better in the next 12 months decreased slightly from last month, to 43 percent.

• The share of respondents who say their household income is significantly higher than it was 12 months ago increased 2 percentage points to 24 percent.

• At 36 percent, the share of respondents who say their household expenses are significantly higher than they were 12 months ago rose 4 percentage points from last month.

New Home Purchases Up Sharply In January 2014

Posted by admin February - 18 - 2014 - Tuesday ADD COMMENTS

New home purchases were up sharply in January. According to the The Mortgage Bankers Association (MBA) sales of new single-family homes were running at a seasonally adjusted annual rate of 543,000 units in January 2014. (data from MBA’s Builder Applications Survey).

The Mortgage Bankers Association estimated 38,000 new home sales in January 2014. That’s a 36 percent increase from the level of 28,000 units in December 2013 .The estimated 543,000 unit annual sales pace in January was a 35 percent increase from December’s pace.

This conflicts with data showing a decrease in existing home activity. However it is in line with what builders are reporting.

Mortgage applications for new home purchases are up by 27 percent relative to the previous month.

SoliVita New Construction is also booming right now. If you are looking for a Florida 55+ Active Adult Community then come check out SoliVita. We’d love to show you around Florida’s World Class Active Adult Community..

Why Baby Boomers Are Buying In 55+ Active Adult Communities

Posted by admin January - 7 - 2014 - Tuesday ADD COMMENTS

did you know that nearly 80 million Baby Boomers are edging ever closer to retirement? In fact, about a hundred thousand Baby Boomers who have chosen early retirement will be receiving their first Social Security checks next month. The outlook for these retirees and those who come after them has never been brighter. Although each person’s situation is different, as a whole, this generation will have a quarter of a century of retirement to look forward to, and will bring to retirement an unprecedented level of affluence and continued good health. Because they want to ensure a comfortable retirement, droves of Baby Boomers are snapping up homes in 55+ Active Adult Communities in interesting locales across the United States.

Boomers are Value Conscious

While this generation might be financially more well off than their predecessors, it doesn’t mean that they’re spendthrifts. On the contrary, it seems as though they’re very aware that their longevity means that they have to be careful with their assets to ensure that they’ll have enough money for retirement. As a result, the trend is for Baby Boomers to want retirement homes in Active Adult Communities that offer the amenities they are looking for.

Location, Location, Location

Part of the process of finding the right Florida Active Adult Community is finding the right location. Current trends indicate that Baby Boomers are choosing to buy “lifestyles”.  Few are able to afford to buy or build Malibu beach houses or Manhattan penthouses. Instead, they are electing to go where property prices and property taxes are low. But – and this is an important factor – they want many of the amenities that make retirement living relaxing and rewarding. So, for example, they look for a Florida Retirement Home in or near a golf community, or lake land that affords them wonderful opportunities for fishing. They often opt for land in areas that are going to be developed into private communities, replete with lakes, rivers, recreation centers, and nature trails. Most importantly, they don’t want to be “snowbirds,” living winters in one area and summers in another. Instead, they want mild temperatures that they can enjoy year-round.

Unlike previous generations, Baby Boomers know what they want and have the means to achieve it. Buying into affordable 55+ Active Adult Communities is just the first of many trends to come.

Follow us on…….

Join Our Facebook Fan Page Check Us Out On Google+ Follow Us On Twitter

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas

Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales, Orlando Florida Short Sales, Celebration Florida Short Sales, Winderemere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

Copyright © 2013 http://www.brokerbryant.com/ | All Rights Reserved

HUD Is To Sell 20,000 Distressed Loans To Investors

Posted by admin May - 7 - 2013 - Tuesday ADD COMMENTS

WASHINGTON – May 6, 2013 – For the second time this year, the U.S. Department of Housing and Urban Development (HUD) will sell thousands of severely delinquent mortgage loans insured by the Federal Housing Administration (FHA).

This summer, HUD will sell approximately 20,000 distressed loans through its expanded Distressed Asset Stabilization Program (DASP).

HUD’s offerings will be conducted through two auctions – on June 26, it will sell approximately 15,000 notes through “national pools,” and on July 10 it will offer approximately 5,000 notes through Neighborhood Stabilization Outcome (NSO) pools.

In the past, the smaller Neighborhood Stabilization pool sales included Florida properties, but this time HUD is focusing on Southern California, Chicago, southern Ohio (including Cincinnati, Columbus and Dayton) and the entire state of North Carolina.

HUD is expanding the use of single-family loan sales through a competitive bidding process in which loan pools are sold to the highest bidder, including non-profit and community-based organizations.

“These auctions allow us to continue stabilizing hard-hit housing markets and to improve FHA’s overall financial position at the same time,” says FHA Commissioner Carol Galante.

Program mechanics
Under the loan sale program, severely delinquent FHA-insured loans are sold competitively at a market-determined price that’s generally below the outstanding principal balance. Once an investor purchases the loan, foreclosure is delayed for a minimum of six additional months.

During those six months, the investor (or servicer) can work with the borrower to find an affordable solution to avoid foreclosure. Since the investor buys the loans at market rate – which is generally below the outstanding principal balance – they’re in a position to offer the homeowner a loan modification. If the loan eventually goes to foreclosure anyway, the investor must do so, relieving HUD from the task.

HUD expects to sell more than 40,000 distressed loans this year through quarterly sales that reduce FHA’s total claims costs and increase recovery on losses.

Distressed Asset Stabilization Program
FHA’s note sales program was resumed in 2010 as a direct sale pilot program that allows qualified bidders to buy pools of risky mortgages – in many cases, HUD says, as a less expensive alternative to foreclosing and listing the homes as a real estate-owned (REO) property.

An FHA servicer can place a loan into the loan pool if the following criteria are met:

• The borrower is at least six months delinquent on their mortgage
• The servicer has exhausted all steps in the FHA loss mitigation process
• The servicer has initiated foreclosure proceedings

For more information on the HUD loan sale program, visit the department’s website.

© 2013 Florida Realtors®

Florida Real Estate Is On Fire!!

Posted by admin March - 9 - 2013 - Saturday ADD COMMENTS

Forget ‘improving’ or ‘rebound’ – Florida real estate is ‘on fire’

WEST PALM BEACH, Fla. – March 8, 2013 – Lesley Deutch, senior vice president at John Burns Real Estate Consulting, said the “Florida market is on fire” in her latest update on the state’s housing market.

Deutch says she traveled the state recently and visited more than 20 communities. While recovery reports differ between Florida cities and urban areas, she reports five major trends:

1. Land prices. While the price of land continues to rise quickly statewide, Orlando feels the most pressure. Deutch says she saw some submarkets where “land and finished lot prices have now surpassed peak levels.” In Orlando, she sees developers buying raw land “just to gain a position and market share.”

2. Home prices. Some communities, such as Orlando and Naples, are seeing 1- to 2-percent new-home price increases monthly, Deutch says. The hallmarks of a seller’s market have also returned, such as lotteries. She expects a 2013 price increase of at least 10 percent in many Florida markets.

3. 55-plus market. Deutch reports a 20- to 25-percent jump in potential buyers interested in active adult living, according to builders in Southwest Florida. She also notes a boost in customer traffic in second- and third-tier markets.

4. Foreign buyers. It’s more than Miami, Deutch says. While in Orlando, she visited a sales office that had three active buyers: One from Brazil, one from Germany and one from China.

5. Foreclosures. While the state has a notoriously long foreclosure process, Deutch says banks are slowly releasing foreclosures. But investors continue to buy new foreclosures shortly after they hit the market.

© 2013 Florida Realtors®

Active Adult Housing Sector Still Moving Slowly

Posted by admin November - 15 - 2010 - Monday ADD COMMENTS

SoliVita

Florida's World Class Active Adult Community....SoliVita

Hi folks. I found this interesting article today about the Active Adult Community 55+ sales. Hopefully SoliVita will beat this trend. There are several homes under construction in my neighborhood of Venezia and I see quite a few people taking tours when the wife and I are down at the Riviera Spa and Fitness Center. Check it out.

WASHINGTON – Nov. 15, 2010 – The third-quarter results from the National Association of Home Builders’ 55+ Housing Market Index (HMI) find that builder confidence in the mature-market sector reflects the larger housing market’s bleak landscape. Almost all categories surveyed declined from the levels reported in the third quarter of 2009.

While we have anecdotal information that some local 55-plus markets are beginning to rebound, the third-quarter data show that national conditions for this sector have not yet turned the corner,” said NAHB’s Chief Economist, David Crowe. “Real improvement won’t happen until we have better employment numbers, and consumers who are more confident of keeping their jobs. Those consumers will buy the homes of the 55-plus age cohort, so that the mature buyers will be able to move to more appropriate housing.” READ THE REST HERE

SoliVita Village Center

Hi folks. Let’s talk a little bit about Real Estate market conditions in SoliVita. Recently I have spoken to several SoliVita homeowners and the first thing they mention is that NOTHING is selling in SoliVita. Well lets look at some facts. The figures below are based on the first half of each year.

In 2006, at the peak of the market, there were 72 closing in the first half of the year. This year there were 91 sales! That’s an increase of 20%. In fact that’s the most resales in SoliVita for that time period EVER! So…properties are selling at a rapid pace.

Now let’s explore why they are selling. This one is easy. PRICE! It’s all about the price. At the peak of the market, 1st half of 2006, the average sale was at $276,600. This year, 2010, the average selling price in SoliVita is $165,301. That’s a decrease in value of 40%. Considering homes in Poinciana have had a decrease in value of 70%….the values in SoliVita have held up pretty good.

So…..will your SoliVita home sell in this market? ABSOLUTELY!!! As long as the price is right. If you want to know what that price is just give me a call….I’ll figure it out for you. OK?

Buy a house in Poinciana Florida 407-873-2747

Real Estate Market Report for Kissimmee Poinciana Florida for 2009

Comments from Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc

OK so that chart was fun. I wanted to give a picture of the market in Kissimmee-Poinciana Florida from 2007 to the end of 2009. Check out the depreciation. Property values are down 67% during this 36 month period.

But the good news is values only fell 7% for 2009 and it looks like property values have not only started to level off but may be slowly increasing. 

Here’s another little goody for you. In 2007 there were only 420 sales. 2008 this number increased to 627. In 2009 Poinciana Florida broke an all time record with the most resale property sales in their HISTORY with 1,596!!! That’s awesome!!

Of those 1,596 sales 1,303 of them were either a Foreclosure (1,083) or Short Sale (220). That means that 82% of the property sales in Poinciana Florida for 2009 were distressed properties.

Currently there are 507 properties on the market in the neighborhoods of Poinciana. 102 are foreclosures. 291 are Short sales. 114 are regular listings.

Inventory is real low. It is getting very difficult to find a property in Kissimmee-Poinciana Florida.

Folks if you want to buy in Poinciana now is the time. Do not sit on the side lines any longer or you will be out of luck. If you find a property you like be prepared to make an offer of asking price or more.

If you need to sell…well chances are you will need to do a Short sale. If that’s the case…give me a call. If you are waiting for your homes value to go back to 2006 values…..it ain’t going to happen for many, many years, if EVER, so just get that thought out of your head.

OK that’s it for me. Any questions?

Do NOT be foreclosed on! Avoid foreclosure. Short Sales DO close.

Want to find out more? www.CentralFloridaShortSales.com

***I am NOT an Attorney nor do I play one on TV. Click the button below for my Bio.

The BIO for Bryant Tutas

Copyright © 2010 http://www.brokerbryant.com/ | All Rights Reserved

 

About us

I am a licensed real estate Broker in the state of Florida. My opinions on real estate have been formed from my experiences and 15 years of working in the business. My opinions are in line with Florida Real Estate laws and the REALTOR(R) Code of Ethics. Your State’s laws may differ. So do your own homework before implementing any of my business practices into your business.