Orlando Real Estate Voice, Short Sale Expert & Specialist

The nation’s foreclosure hemorrhage slowed a bit last month, according to Foreclosures.com. Lenders repossessed 74,570 homes following foreclosure in April, down more than 5 percent from March. April pre-foreclosures dropped 7.52 percent from March too, according to California-based Foreclosures.com foreclosure information specialists.“The sky isn’t falling, and the bottom of the housing market is in sight,” says Alexis McGee, president of Foreclosures.com.Foreclosures.com says its analysis is based on the number of formal notices filed against a property during the foreclosure process. That can include notice of default, notice of foreclosure auction, and trustee’s deeds/REOs (real estate owned by lender through foreclosure).

In the 1st quarter of the year, 2.8 of every 1,000 households ended up back in lenders’ hands, up from 2.7 in 4th quarter 2007 (213,927 1st quarter filings vs. 197,736 in 4th quarter 2007). Quarter over quarter, 17 states actually had fewer REO filings in April.

“That’s the good news. The bad news is that still 3.8 of every 1,000 households nationwide (288,497 REO filings) have been lost to foreclosure so far this year,”  “Another 696,925 pre-foreclosure filings – 9.4 of every 1,000 households – have been recorded year-to-date with 179,046 filings in April.

“The numbers tell us the economy isn’t dead,”   “U.S. gross domestic product was not negative as many had speculated and grew 0.6 percent in the first quarter. Combine that with positive moves by government and industry – including the still-evolving FHA reform and tax credits, along with federal tax rebates – are making a difference. The S&P 500, after dropping nearly 19 percent Oct. 9 to March 9, has since rebounded 11 percent. New jobless claims were lower than expected, and even Treasury Secretary Henry Paulson is upbeat, predicting a pick-up in growth later this year.” REO filings YTD • Florida, 24,764 (4 per 1,000)Pre-foreclosure filings by household YTD• Florida, 25.6 per 1,000 (162,316 filings, leading the nation in total number of filings)

About the author:  Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit www.JerrySellsOrlando.com for your real estate needs.  Please give me a call if you have questions about the Orlando and Central Florida real estate market.Jerry LaRose, P.A., ABR, GRI, e-PRO, CLHMS, REALTOR® 407-580-7011(Copyright © 2008 By Jerry LaRose, P.A. All Rights Reserved.)

[audio:Alabama - Angels Among Us.mp3]

Will you wear blue?

International Picture of the Year

Here are two very touching photos honored this year.  

First Place:  First  Place
Todd  Heisler
The  Rocky Mountain News
When  2nd Lt. James Cathey’s body arrived at the Reno  Airport , Marines climbed into the cargo hold of the  plane and draped the flag over his casket as  passengers watched the family gather on the  tarmac.During  the arrival of another Marine’s casket last year at  Denver International Airport , Major Steve Beck  described the scene as so powerful: ‘See the people  in the windows? They sat right there in the plane,  watching those Marines. You gotta wonder what’s  going through their minds, knowing that they’re on  the plane that brought him home,’ he said  
‘They will  remember being on that plane for the rest of their  lives. They’re going to remember bringing that  Marine home. And they  should.’Second  Place :Second  Place
Todd  Heisler
The  RockyMountainNews

The  night before the burial of her husband’s body,  Katherine Cathey refused to leave the casket, asking  to sleep next to his body for the last time. The  Marines made a bed for her, tucking in the sheets  below the flag. Before she fell asleep, she opened  her laptop computer and played songs that reminded  her of ‘Cat,’ and one of the Marines asked if she  wanted them to continue standing watch as she slept.  ’I think it would be kind of nice if you kept doing  it,’ she said. ‘I think that’s what he would have  wanted.’

PLEASE  KEEP THIS GOING!
‘No  arsenal, no weapon in the arsenals of the world, is  so formidable as the will and moral courage of free  men and women.’
– Ronald Reagan
- – - – - – -  - – - – - – - – - – - – - – - – - – - – - – - – - –  -
Blue  Fridays
Very  soon, you will see a great many people wearing blue  every Friday. The reason? Americans who support our  troops used to be called the ‘silent majority.’   We are no longer silent, and are voicing our  love for God, country and home in record breaking  numbers. We are not organized, boisterous or  overbearing. Many Americans, like you, me and all  our friends, simply want to recognize that the vast  majority of America supports our troops.  
Our idea of  showing solidarity and support for our troops with  dignity and respect starts this Friday — and  continues each and every Friday until the troops all  come home, sending a deafening message  that every red-blooded American who supports  our men and women afar, will wear something  blue.

By  word of mouth, press, TV — let’s make the United  States on every Friday a sea of blue much like a  homecoming football game in the bleachers. If every  one of us who loves this country will share this  with acquaintances, coworkers, friends, and family,  it will not be long before the USA is covered in  BLUE and it will let our troops know the once  ’silent’ majority is on their side more than ever,  certainly more than the media lets on. 
The first  thing a soldier says when asked ‘What can we do to  make things better for you?’ is … ‘We need your  support and your prayers.’ Let’s get the word out  and lead with class and dignity, by example, and  wear something blue every Friday.   
 
IF  YOU AGREE -THEN SEND THIS ON.                                                                                                                    
IF  YOU COULDN’T CARE LESS — THEN HIT THE DELETE  BUTTON.IT  IS YOUR CHOICE. WE  LIVE IN THE LAND OF THE FREE, ONLY  BECAUSE OF THE BRAVE.
God bless all our soldiers 
I’ve learned that people will forget what you said, people will forget what you did, But people will never forget how you made them feel.

It’s your attitude and not your aptitude that determines your altitude.

Orlando Real Estate is now on Sale. BUYERS are in Heaven. The best deals in over 20 years are now available. Call me for these special deals.
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Buying a home is probably the single largest investment most people make in a lifetime. By preparing yourself and your credit profile before a home purchase, you can ensure a smooth finance process and can potentially save thousands on your loan.

Start by checking your credit reports from TransUnion, Equifax and Experian

* To get the best possible mortgage rate, make sure your credit history is healthy and accurate. Aim to raise your credit score above 650 in order to qualify for most prime loans.

* If your credit score is not quite 650, focus your efforts on paying bills on time, reducing your debt balances, avoiding new inquiries and clearing negative inaccuracies from your credit report. It is possible to improve your credit score quite a bit over a few months.

* Make sure the information on your credit report is correct and fix any problems you discover. Give yourself 30-90 days for correcting inaccuracies. You can learn more about the dispute process in the “dispute” section of this Learning Center

* Found an error while reviewing your credit with the lender? Ask about the “rapid rescoring” process where your lender can submit a dispute and potentially improve your credit score in 72 hours.

* For a complete understanding of your credit history, check your 3-in-1 Credit Report and Credit Scores online.

Figure out how much you can afford

•· The rule of thumb is that most borrowers can afford a home that runs about two and a half times their annual salary.

•· Calculate your loan-to-value ratio to see how much you can afford to borrow by dividing the loan amount by the property’s value. If your loan-to-value ratio is above 80% your rates may increase significantly. Find a less expensive home or save up for a down payment to lower this percentage.

•· Calculate your debt-to-income ratio by adding up your monthly debts and dividing by your monthly income. A debt-to-income ratio under 20-30% is usually considered good and will help you be perceived as financially stable.

•· Don’t be afraid to start small. Just because you may qualify for a large loan doesn’t mean that it is a smart financial decision to buy as large a home as possible. Take a careful look at your family budget and your housing needs before you decide how much you can really afford.

Pick a mortgage to fit your finances

•· Fixed rate mortgages have a set monthly payment that remains constant through the life of the loan. The interest rates tend to be a bit higher on fixed rate loans.

•· Adjustable rate mortgages give you a lower initial interest rate with the risk of it rising in years to come. If interest rates decrease you will have an advantage over fixed rate borrowers. Setting a rate cap about 5-6% above your initial rate will protect you from extreme jumps in interest rates

•· Short term mortgages are loans with terms less than 30-years long. While these mortgages offer lower interest rates, they have higher monthly payments and more difficult qualification standards.

•· Long term mortgages are loans with terms of 30-years or more. These mortgages have slightly higher interest rates but lower monthly payments, allowing for easier qualification

Improving your finances before you start to shop can help you save thousands on your mortgage. Reducing your loan rate by just half a point can potentially save you a whopping $22,000 over the life of a $200,000 loan.

About the author:  Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit www.JerrySellsOrlando.com for your real estate needs.  Please give me a call if you have questions about the Orlando and Central Florida real estate market. Jerry LaRose, P.A., ABR, GRI, e-PRO, CLHMS, REALTOR® 407-580-7011 (Copyright © 2008 By Jerry LaRose, P.A. All Rights Reserved.)
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Financing Solutions with Jerry LaRose

Overcoming the misconceptions about the “credit crisis”

You’ve watched the news and read about it in the papers. You know, the “credit crisis” and how buyers need 20 percent down in order to buy a home? And even if you found a buyer with 20 percent down, lenders aren’t making loans anyway. So, why bother, right? Wrong!

We’re right smack in the middle of what just might be the biggest disservice ever perpetrated on potential home buyers. It seems the press just can’t get enough of all the gloom and doom in the housing industry. The fact is that mortgage money is as available today as it was a year ago and loans are being made this very moment with little or no money down. And, no, platinum credit isn’t required. You just need to know where to look. Who are these lenders? They’re right down the street.

Federal Housing Administration (FHA) loans are exploding onto the mortgage scene; recent estimates are that one out of five mortgages are FHA loans. FHA loans never went away, their reemergence is a result of the collapse of the sub-prime market. FHA doesn’t technically have a minimum credit score, although, in practice, lenders won’t approve an FHA loan with a credit score below 500. But that’s a far cry from the notion that an 800 score is the only thing lenders care about.

The best part? FHA only requires 3 percent down. 3 percent. And that 3 percent can come in the form of a gift or grant. FHA borrowers only need to have $500 in a transaction. All the while, FHA mortgage rates are as good or better than their conventional counterparts.

Low or no down payment, extremely competitive rates and easier qualifying. No wonder FHA is moving up the charts!

Please contact me if you would like more information about FHA loans or help getting into your first home.

Have you been feeling frustrated at clients who don’t seem to be able to make a decision? At the beginning they seem interested in buying, either they’ve contacted you or you contacted them. Then as they see some homes and may begin listening to the news about today’s marketplace, they start to get cold feet.

They don’t return your phone calls or e-mails, and when you finally reached them they say, “I’m not sure this is the best time to buy. I’ve heard prices may get lower.”At this point you can either get exasperated and give up or you can give them a good reason to buy now, one that they can’t refuse. This is a simple three step process:First, say to them, “Did you know that Donald Trump is buying up as much real estate as he can right now?” Client, “No, really? Why?” You respond with, “Donald Trump is a very smart businessman, wouldn’t you say? What he knows that other people don’t know is that this is the best time in history to buy. Prices are at an all-time low and so are interest rates. It doesn’t get any better than this. So he is getting great deals all over the place.” After this, your client will probably say, “Wow I didn’t know that.” You respond with, “If you’re excited about this, then let’s get you a deal.”Notice the invitational quality of your last statement. Who can resist a deal? Isn’t this an irresistible statement? You are offering to partner up with them to help them make money.Watch how quickly your previously “indecisive” clients start taking action. You’ve done your job to tell them the facts. You’ve backed that up with an offer to help them make money in the same way that Donald Trump is making money. There may be objections that come up. Here is the KEY: if you are convinced that this is the best time to buy, then they will be too. People can sense the depth of your conviction, so convince yourself first and then you will be attracting your ideal clients

About the author:  Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit www.JerrySellsOrlando.com for your real estate needs.  Please give me a call if you have questions about the Orlando and Central Florida real estate market.Jerry LaRose, P.A., ABR, GRI, e-PRO, CLHMS, REALTOR® 407-580-7011(Copyright © 2008 By Jerry LaRose, P.A. All Rights Reserved.)