We are in interesting economic times. You can’t turn on a national news network without hearing the talking heads go on about the economic downturn, soaring national debt and the unemployment rate. But the news is not all bad!

The housing market crash has caused real estate prices and mortgage rates to be at an all time low! Now is truly the time to look into purchasing a vacation home. There are plenty of beautiful vacation condos in the Orlando area selling for only $50 thousand. Luxury homes in gated resort communities have for sale signs in their lawns and price tags as low as $100 thousand.

The obvious reason to purchase a vacation home is to have a beautiful location to kick back and relax. But there’s actually more to the picture than this. Prices…

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While analysts talk about a double dip recession, we are seeing signs that point to a healthier, recovering and somewhat stable, real estate market. Home prices were up 1% this past June from May according to S&P’s 20-city home price index, up a total of over 4% from June last year. Despite a drop in sales for July this year’s annual sales are still expected to reach 5 million, beating out the average of 4.9 million of the past 20 years, and home prices nationally have continued to increase according to the National Association of Realtors.

In the second quarter of the year, 100 out of 155 MSAs (metropolitan statistical areas) had higher median existing single-family home prices in comparison to the previous year, and 91 for the first quarter.…

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People are moving at record pace to purchase Orlando real estate. So what is it about living minutes from Disney World that is so amazing? The Orlando area is one of the most serene and beautiful vacation areas our country has to offer. The market for homes in Florida right now is fantastic! Young entrepreneurs, families and even international investors are all buying up real estate around Disney World.

Why the rush to buy vacation property in Orlando? Prices and interest rates are lower than ever. With good credit, one can mortgage a vacation home with an interest rate as low as 4%. Rates that low are unprecedented in the area. .

The Orlando area offers a great diversity of attractions and culture. From award winning golf courses, resorts and swimming…

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Sales of existing homes in Florida rose 15 percent in June, marking 22 consecutive months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®.

A total of 18,038 single-family existing homes sold statewide last month compared to 15,732 homes sold in June 2009, according to Florida Realtors. June’s statewide existing home sales increased 7.7 percent over statewide sales activity in May. Meanwhile, June's statewide existing-home median price of $143,400 was 2.1 percent higher than May’s statewide existing-home median price of $140,400. It marks the fourth month in a row that the statewide existing-home median price has increased over the previous month’s median.

Fifteen of…

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Oftentimes you may see the terms pre-qualification and pre-approval thrown around seemingly interchangeably. Understanding the difference between the two, however, is very important in the mortgage process.

Pre-qualification is generally faster than the pre-approval process, but by no means is it a replacement for pre-approval. In the pre-qualification process, you give the bank or lender your financial information; this includes your income, debt, and assets. After the bank or lender reviews this information, they are able to give you an estimate of a mortgage that you should be able to qualify for. This is only an estimate, it is subject to change, and it will get you nowhere in today's market, as it holds no guarantee. Its only real use, is to give you…

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Due to the turbulence in the recent economy, there are a few different types of real estate sales that one hears about frequently. When preparing to enter the real estate market, whether as a seller or a buyer, it is important to know the terms used, and the implications of each type of sale.

Short Sale Property


You often will hear the term “short sale”. A short sale is when the homeowner owes more on their mortgage than the home can sell for in today’s real estate market. There are a few ways this can happen. One way is when a homeowner takes out an equity loan (to pay off other bills) that amounts to greater than the home can sell for including closing costs.

Another way this could happen would be if the homeowner originally bought the home with what…

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Votes are tallied!

More than 150,000 votes were collected in this year’s REALTOR® Magazine “30 Under 30” Web Choice online poll to select the "30 Under 30" Web Choice Award winner. Voting closed at midnight on March 28. The highest vote-getter from the 50 finalists was Juan Carlos German, ABR®, e-PRO®, of Orlando, Fla. German, who’s with Orlando Classic Homes, says friends and family helped him garner his 35,997 votes!

This is an outstanding honor for me because real estate is a people’s business, and having my peers, friends and family vote for me and select me as the Web Choice Award winner is unbelievable. I couldn’t have done it without everyone who voted and every past client who’s believed in me and my services and supported Carlos German &…

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Increases in the median sales price of both bank-owned homes and short-sale homes have helped Orlando’s overall median home price increase for the third consecutive month, to $115,000!

Members of the Orlando Regional REALTOR® Association reported an increase of 32.74 percent on completed home sales from April 2009 to April 2010. In addition to this great news is the fact that the number of new contracts filed in April 2010, is an increase of 53.02 percent over April of last year!

Another indicator that the real estate market in Florida is improving is that there are 86.18 percent more homes (10,832) under contract and awaiting closing in April of this year than in April of last year (5,818).

Orlando Regional REALTOR® Association Chairman of the…

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If you thought that the idea of real estate being a great investment was a thing of the past, think again.  The fact that the home prices are so low and rent has not dropped to match, investors are beginning to come back.  Another interesting change is that there is an increase of buyers paying with cash.

The share of home sales involving all-cash transactions was 26 percent in January, up from 18 percent a year earlier, according to the National Association of Realtors.  The reason for investors paying cash is largely due to the fact that they can avoid paying interest charges on loans and get a larger return on their investment.

National Association of Realtors data shows a pickup in investment activity. Home purchases made by investors climbed to 17…

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Members of the Orlando Regional REALTOR® Association filed 4,043 new sales contracts in the month of February, the greatest monthly tally since 2005!  That is a jump of 66.1 percent from last February’s numbers. 

“The new-contract statistic is an important indicator to consider in our current market, as it reflects real-time buyer interest. I expect activity in this category to continue to pick up into late spring as buyers take advantage of the tax credit before its April 30 deadline”, said ORRA Chairman of the Board Kathleen Gallagher McIver, RE/MAX Town & Country Realty. 

More good news:  the median price of all existing homes combined sold in February 2010 increased 7.06 percent from January 2010.  February’s median price was $109,200, which includes…

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