Real Estate Market Reports
Clearwater Beach Florida - Some Home Owners Are Eligible For Mortgage Relief
March 15th, 2009 Categories: Clearwater Beach Florida, Real Estate Market Reports, Tampa Mortgages
Clearwater Beach Florida Update on the Making Home Affordable Program
Clearwater Beach Florida - When the White House first introduced the Making Home Affordable program in February, it was positioned as a mortgage program with two goals to help homeowners everywhere including those on Clearwater Beach:
- To help financially-needy homeowners get home mortgage relief
- To help home owners who’ve lose equity qualify for today’s low rates
This past Wednesday, in a much-anticipated announcement, the U.S. Treasury introduced new details about their Making Home Affordable plan.
It also created an “Am I Eligible For Making Home Affordable” form on its website. (Check it out)
In the press release, the Treasury detailed the President’s original blueprint. Namely, it provided explicit loan modification instructions that will assist up to 4 million delinquent homeowners and their respective mortgage servicers.
The modification guidelines are a thorough 17 pages long and leave little question about the loan modification process, and how it must be carried out.
But for as much ink committed to helping delinquent Clearwater beach home owners, the Treasury gave surprisingly little guidance to the estimated 5 million homeowners for whom deteriorating home equity has rendered refinancing impossible.
For these Americans, the Treasury instead offers a basic Q&A and directs Clearwater home owners to call Fannie Mae and/or Freddie Mac to confirm their eligibility. The “refinance plan”, in summary, says that a homeowner who has paid his mortgage as agreed and whose home value is “about the same or less” as the amount owed on his first mortgage may be eligible.
That’s about as much as the Treasury could say.
So what are your other options?
New Guide to Getting a Loan Modification in 60 minutes
Being in the Clearwater beach real estate business we are helping families everyday caught in this property value crisis so I am excited to share a straight-forward practical resource with you developed by a friend of mine Rocky Rockwood and his Dad, Mike. Rocky’s own Dad found himself in the same situation as many home owners today. Their properties were no longer worth what they owed so refinancing wasn’t an option and they also had with less income coming in and were struggling to find a way to keep up their mortgages.
Rocky and his Dad took action to really understand the problem and better yet the solution! Then they wrote a step by step guide to help others in the same situation. Their loan modification guide now enables the average home owner successfully do their own loan modification quickly and easily rather than get taken advantage of by one of the latest scams I’m seeing daily. They wrote an use workbook on How to get a loan modification
I got to review the complete guide and highly recommend it - those of you who know me know that I am about empowering people with good information so you make informed choices and also get proven results. If you or someone you care about is in this situation you owe it to yourself to get good information.
If after browsing the Treasury the website, you still have questions about the Making Home Affordable program, call your mortgage lender with specific questions or better yet, order the 60 Second Loan Modification kit
Clearwater Beach Real Estate - Selling or Buying - Condos or Homes - We Can Help!
If you’ve been thinking about buying or selling a waterfront or oceanfront beach condo or house in the Clearwater St Peterburg Tampa Bay area…
Call Us Today at (727) 710-8036 to hear more about how we can help you!
Contact us for a FREE quote and to find out your Tampa Mortgage options and you can search all Tampa St Petersburg and Clearwater condos for sale right now..
Copyright © 2007-2009 Jack and Cyndee Haydon, Clearwater REALTORS and specializing in Clearwater Florida, Clearwater Beach Florida, and Pinellas County Waterfront homes and condos. Information is deemed reliable however it is not guaranteed and subject to change at any time.
| Currently No Comments »
Clearwater Florida Sees More Signs Of Real Estate Recovery |Cost Of Owning Versus Renting Falls Back To Historical Norms
March 8th, 2009 Categories: Clearwater Florida, Homes for Sale, Real Estate Market Reports
Clearwater Florida Owning verus Renting
Clearwater Florida - One popular housing theory is that — before a bona fide housing recovery can begin — the cost of owning a Clearwater home versus renting one must return to historical levels. 
If that belief is a truth, a national return to rising home prices may be in store for 2009.
Falling home prices coupled with falling mortgage rates, too, have dropped the relative, after-tax cost of owning a home to 125% of the cost of renting a home.
This is the exact 18-year historical average and not since 2001 has the gap been this small.
As reported by the Wall Street Journal, though, the study has some flaws. For example, the data doesn’t account for ongoing home maintenance costs, nor does it consider real estate tax bills and insurance policies.
But, combining a relatively low cost home of ownership in the Tampa- St Petersburg - Clearwater real estate market right now. NAR reported that the median home price was $151,500 in the 4th Quarter of 2008 which represents a decrease of over 24.9% in 2008 along with the government’s newly announced $8,000 tax credit for first-time home buyers is likely to convert long-time Tampa Bay renters into never-before homeowners. We’ve been meeting with lots of buyers convinced now is the time to buy their first home.
Related Posts:
- IRS First time Home buyer credit form is here
- IRS gives First Time Home buyers 8000 reasons to buy now!
This, too, is thought to be a key element of the housing recovery.
In many real estate markets (but not all), home prices are expected to edge lower through 2009. Provided mortgage rates stay low, the cost gap between owning and renting will shrink even more.
Thinking of Buying your First Home in Clearwater Florida - We can help
If you have been thinking about buying your first home or condo and haven’t owned one in the last 3 years now is a great time to buy in home in Clearwater
Contact us for a FREE quote and to find out your Tampa Mortgage options and you can search all Tampa St Petersburg and Clearwater homes for sale right now..
Call Us Today at (727) 710-8036 to hear more about how we can help you!
Copyright © 2009 Jack and Cyndee Haydon, Clearwater REALTORS and specializing in Clearwater Florida, Clearwater Beach Florida, Sand Key Florida and Pinellas County Waterfront homes and condos. This article may not be copied, reproduced, distributed, transmitted, displayed or published.
(Image courtesy: Wall Street Journal)
| Currently 3 Comments »
Clearwater Florida - Have We Just Seens Signs of Clearwater Real Estate Market Recovery?
February 1st, 2009 Categories: Clearwater Beach Florida, Clearwater Florida, Real Estate Market Reports, Real Estate News
Clearwater Florida - OK, increased home sales numbers in Clearwater FL as well as the US overall for December were definitely helped a bit by the beating median home sales prices have been taking. But don’t let that fact fool you into thinking that sellers weren’t still smiling ear to ear - it’s all good news for the Clearwater Real Estate market!
Check out this video that Chris Griffith, Bonita Springs Realtor shared with us - It’s nice to be able to share “good news” in the media with you - Cramer says that Florida “has hit bottom” and is a model for the rest of the country.
In fact, only a month after falling below the 5-million unit trend line, December housing sales volume saw a spike of some 300,000 homes leaving more than a few housing analysts with their jaws hanging open! Folks - we could see the first makings of a case that this spring’s home-buying season could have some steam behind it!
As I said, it’s no secret that falling home prices here in Clearwater, Florida and across the nation have helped fuel home sales. Nationally, the median sales price (the midway point at which half of all homes sold for more and half sold for less) was $175,400, down $32,000 from 2007 totals.
However, the most important part of December’s Existing Home Sales report isn’t making headlines.
At December’s sales pace, it would now take 9.3 months to exhaust the existing home supply Last month it was 11.2 months. This means that buyers are competing to purchase fewer homes which, in turn, puts upward pressure on home prices.
What we’re seeing here, folks is basic supply and demand in action. Economists have remained adamant that the key to turning housing around is bringing some balance back to the home supply. We just might be heading in that direction. With recent numbers pointing to an all-time low in housing starts, December’s Existing Home Sales data signals future strength.
Thinking of Buying or Selling a house in Clearwater Florida - We can help
If you have been thinking about buying or selling a home in the Clearwater St Petersburg Tampa area…
Contact us for a FREE quote and to find out your Tampa Mortgage options and you can search all Tampa St Petersburg and Clearwater homes for sale right now..
Call Us Today at (727) 710-8036 to hear more about how we can help you!
Copyright © 2009 Jack and Cyndee Haydon, Clearwater REALTORS and your Clearwater Real Estate and Sand Key Florida Consultants specializing in Clearwater St Petersburg Tampa Real Estate and may not be copied, reproduced, distributed, transmitted, displayed or published.
(Image courtesy: The New York Times)
| Currently 5 Comments »
