Orlando Real Estate Voice, Short Sale Expert & Specialist

Did you catch the frumpy 47-year old Susan
Boyle on her audition for Britain’s version
of American Idol?

If not, it may be the best seven minutes you’ll
spend this year. Check it out:

http://www.youtube.com/watch?v=9lp0IWv8QZY

She’s middle aged, triple-chinned, eyebrows
that look like dead caterpillars, never been
kissed by a man… everyone just knew this
Gong-Show reject was going to bomb.

I had to give Simon Cowell credit, as he
did his best to keep a straight face. When
he asked about her goal, she said she wanted
to sing like a star.

Simon rolled his eyes at this train wreck. Half
the audience groaned. The other half just sighed,
shaking their heads. Some outright sneered.

But when she started to sing…

…it was like Angels from heaven had came
to earth.

She lit it up. And the crowd went wild!

If you were touched by her performance, you
are not alone. It brings out and OVERCOMES
something in you that you try to hide, yet
it’s buried inside you somewhere.

Any time you’ve faced defeat… been laughed
at and humiliated… had your spirit crushed…
faced rejection… experienced shame… you
strengthened this part of you that identified
with her.

Yet this one person reached inside herself and
overcame all that inner negativity in one fell swoop.

The face you don’t want anyone to see… the one
you hide even from yourself… is the one that she
wears every day. And she turned it into a thing of
beauty.

This is about redemption, baby.

And it’s within your reach, too. If you lack
confidence that you can’t work in this foreclosure
market, that it’s too hard, or you’ll never make
it, that’s that inner voice of failure talking.

But know that you can reach inside and bring
out the best within you and emerge a success.

If Susan Boyle did it, you can too.

Shuttle Launch

Government officials launching the “Making Home Affordable” program also acknowledge that the initiatives are only a partial fix for a sweeping problem that has helped plunge the U.S. economy into the worst recession in decades. In fact, tens of thousands of homeowners in some of the most battered real estate markets – concentrated in California, Florida, Nevada and Arizona

There was also skepticism that banks would be willing to participate.

The Obama administration’s program has two parts: one to work with lenders to modify the loan terms for up to 4 million homeowners, the second to refinance up to 5 million homeowners into more affordable fixed-rate loans.

For the modification program, borrowers who are eligible will have to provide their most recent tax return and two pay stubs, as well as an “affidavit of financial hardship” to qualify for the loan modification program, which runs through 2012.

Borrowers are only allowed to have their loans modified once, and the program only applies for loans made on Jan. 1, 2009

For the refinance program, only homeowners whose loans are held by Fannie Mae or Freddie Mac are eligible and have until June 2010 to apply.

Consumers should contact their loan servicer – the company that sends out their monthly bill – to find out if their mortgages are held by Fannie or Freddie. The two mortgage finance companies own or guarantee almost 31 million home loans – more than half of all U.S home mortgages.

Many mortgage brokers, however, are critical. They argue the fees imposed by Fannie and Freddie over the past year make it difficult for borrowers to afford to refinance. The two companies, which are now government controlled, have yet to detail how they will implement the plan, or whether any fees will be rolled back.

Meanwhile, action to put in place another part of Obama’s housing plan is expected soon on Capitol Hill.

House Democrats agreed Tuesday to narrow proposed legislation that gives bankruptcy judges the power to change the terms of mortgage loans for debt-strapped borrowers.

In the latest version of the bill, judges would have to consider whether a homeowner had been offered a reasonable deal by the bank to rework his or her home loan before seeking help in bankruptcy court. Borrowers also would have a responsibility to prove that they tried to modify their mortgages.

A full vote in the House could come as early as Thursday.

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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 http://OrlandoShortSaleExpert.com or 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.

P.S. If you are listing your home as a short sale in Orange County Florida and Orlando, Windermere, Winter Garden, or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 to find out more about Orange County Short Sales and Orlando Area Short Sales.

Last year at this time Jim Cramer from CNBC was very negative about the economy and the housing market. Two days ago he appeared on the Regis and Kelly show, of all things, and he is completely the opposite. He now thinks this is the best time to buy a house in Florida before the bottom is hit and prices rise. Enjoy……….

So Give me a Call and Let’s get you going on finding that perfect property for you.

407-580-7011   Jerry

For first-time buyers, often the first thought that comes to mind is, “I need a down payment.” This is often followed by the question, “Now, where do I get that down payment?”

Depending upon the loan type, a home mortgage typically requires 3 to 5 percent down. If you have the money, then you’re set. But what if you don’t? What if you’re renting? You can afford a mortgage within your means, but coming up with the down payment money needed to begin the transaction can be challenging. So, where can you turn?

One of the most overlooked sources of down payment funds is likely right under your nose-in the form of government bonds and local grant programs.

These programs either provide outright monetary grants for down payment or money to buyers in the form of a forgivable loan. In essence, the government will help you buy your home and you typically only have to pay back the money if and when you sell that same property.

In the past it was challenging to find these special programs, but now all you need is your agent, a computer, an Internet connection, and a search portal such as Google or Yahoo. Enter the search terms “down payment assistance (followed by your city, state or province)” and see what pops up! It might just be the answer to helping you buy your first home.

“I NEVER WORRY ABOUT ACTION, BUT ONLY ABOUT INACTION.”  Winston Churchill. These words proved especially true last week, as the big story was the Fed’s lack of action following their recent meeting, or decision to leave the Fed Funds Rate unchanged – but is the Fed’s decision a cause for worry? The financial markets seem to think so. The Fed is in a tough spot with the economy performing sluggishly, the housing market still struggling to stabilize, consumer confidence being low, and food and energy costs going up seemingly every day. They made the decision to hold rates steady for now, but looking forward, what does all this mean for Bonds and home loan rates?

While the Fed made a smart move to cut its benchmark rate back in September to stimulate the economy, the continued string of cuts has considerably weakened the US Dollar against the Euro. And since oil is priced in Dollars, the decline of the Dollar has pushed oil prices to rise, even though consumption in the US is down. Prior to the Fed starting their recent string of cuts in mid-September, oil was trading at a then staggeringly high $73/barrel, and it took $1.35 to buy 1 Euro. And after nine months of Fed rate cuts, the Dollar has weakened to where it takes $1.57 to buy 1 Euro…which has greatly influenced oil prices to top $140/barrel. And because oil is involved in so much of what we purchase, prices have gone up on everything.

The bottom line: A stronger stance against inflation by the Fed – which would mean rate hikes ahead – could help strengthen the Dollar, combat high oil prices, and cause Bonds and home loan rates to improve in turn, as inflation is the arch enemy of both. It will be important to see what the Fed decides to do about the Fed Funds Rate at their next meeting in August, so stay tuned!

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.)

“I’m Mad as Hell … and I’m not going to take it anymore.”
That’s a quote from the movie Network, from 1976… Great Clip from that movie is below. Ya know, I’m tired of the Media slamming this market and saying how bad it is. If the media would just put a positive spin on things once in a while I think we’d all be better off. I recently heard that 1 out of 538 homes are in some sort of foreclosure in Florida and the media makes it sound like the world is coming to an end.
OK, let’s do the math. 1 divided by 538 = .18587
I interpret that as .2% that means 99.8% of the market is not in foreclosure. We should be cheering. Anyway, this is how I feel today about the media. Watch the video and enjoy

You might not hear much about them on TV or in the papers, but there are some economic signs popping up right now that are — at the VERY least — encouraging for housing and real estate.

Take the gold standard of all forward indicators for the U.S. economy — the Conference Board’s “Index of Leading Indicators,” which is based on a broad survey of industry data and predicts economic activity three to six months down the road.

The latest Conference Board index registered its first increase in six months. Now I know that all we hear about these days is recession: it’s either already here or it’s about to happen. But the index suggests that there should be positive growth underway in the second half of the year, if not sooner. Look at the stock market, it’s starting it’s upward trend again.

The National Bureau of Economic Research which found that industrial production in the U.S. showed an unexpected uptick in March.

Here are some other noteworthy developments this past week:

• Applications for mortgages to buy houses were up again, it was the second straight week, according to the Mortgage Bankers Association of America’s national survey. Applications for FHA loans to buy houses jumped by three and a half percent — and conventional purchase applications rose 2.1 percent.
• The federal government reported that house prices nationwide stopped their slide between January and February — and actually increased by six tenths of one percent.
• Interest rates remain well under 6 percent, according to the Mortgage Bankers, with 30-year fixed rate loans last week averaging 5.74 percent and 15-year loans at 5.27 percent. The Federal Reserve is likely to knock another quarter percent off short term rates next week.
• Freddie Mac announced plans to pump up to 15 billion dollars into the “jumbo conforming” loan market — those are for high cost areas that really need some stimulus right now, like California.

Now, positive-sounding economic developments are not ballgame-changers for real estate. We’ve still got lots of housing inventory to sell before calling an end to the down cycle — and total sales dipped 2 percent in March, according to the National Association of Realtors.

We’re still dealing with a lack of confidence on the part of some consumers who are afraid that maybe prices still have a ways to fall.

But here’s the point: It’s undeniable that there are some glimmers out there that the underlying economy and financing marketplace, which after all are what support real estate activity, finally may be headed in a positive direction.