Special offer

Lake City, FL Real Estate News

By Dan Magstadt
(Paramount Residential Mortgage Group, Inc)
Mortgage rates fell to the lowest level since May as home-loan refinances surged. Rates had reached record lows of 4.5% for a 30yr fixed rate loan in April until the end of May where they spiked over 1½% in two days time. Since then they've slowly edged back down - Today the average 30-year rate fell to 5.14 percent, down from 5.20 percent. The 15-year rate was 4.63 percent. Some more technical data:     - Overall home loan applications rose 4.3 percent this week:            * Purchase applications fell 9.4 percent             * Refinance applications rose 18 percent     - The global mortgage crisis has cost the world's financial firms almost $1.5 trillion in losses so far.     - The Federal Reserve kept the federal funds rate at between zero and 0.25 percent last month.            * Th...
Comments 5
By Dan Magstadt
(Paramount Residential Mortgage Group, Inc)
Below are May's Florida home sales numbers. You can see that sales are up pretty significantly over 2008's numbers. This is due to the large number of bank owned & foreclosure/pre-foreclosure properties out there - Investors & homebuyers looking for a good deal are snatching the properties up. I've had numerous situations in the last 4-6 weeks where a buyer was looking for a house in the $125,000-$175,000 price range. After putting offers on 5-10 properties over the course of a month they got beat out of every one of them, many times the home selling for tens of thousands of dollars above the list price. Many times the homes have only been on the market for a day or two & get 10-20 offers. This is a great thing though...it's clearing out the inventory & will help get the housing market ...
Comments 9
By Chad Stewart, Broker Associate - Real Estate Pro
(Rockford Realty Group)
Here are 8,000 reasons for you to get of the fence. There has NEVER been a better time to buy. Really and honestly... When you qualify & buy a principlal residence before December 1st, 2009, then you are eligible for a $8,000 tax credit (or 10% of the purchase price of your home if the home you purchase is less than $80,000) http://www.chadstewart.com/Files/8000%20Tax%20Credit%20REALTOR%20flyer.pdf The National Assoc of Realtors gets all the credit for this "dollar" bill & the flyer. Thanks NAR. We love it.  Its a great day in the real estate business.
Comments 2
By Dan Magstadt
(Paramount Residential Mortgage Group, Inc)
Everyone be sure to come down to beautiful Lake DeSoto for the July Fourth celebration in Lake City, FL on Saturday. The night is going to kick off at 6 PM with live music, great food, and lots of friends & family! Bring your lawn chairs or blankets and gather around the lake's edge for this magnificent display. The kids are sure the enjoy the evening as well with free balloons & lots of hot dogs, barbecue, & ice cream for everyone! The fireworks display is scheduled to begin at 9:15 & is sure to be North Central Florida’s best and brightest yet. There will be extra fireworks added this year in an effort to top last year’s grand finale that showered the still waters of Lake DeSoto. There is estimated to be 20,000-25,000 people at the event, so be sure to show up early!!
Comments 0
By Chad Stewart, Broker Associate - Real Estate Pro
(Rockford Realty Group)
This is an article that was published in the Lake City Reporter yesterday. Written by Jeff M. Hardison.. & all credit goes to him & the Lake City Reporter...This explains how the trend of more sale & activity but lower prices is still moving up north in Florida, still reaching into the Lake City, FL area. Here is the article.__________________ Study: Housing Market poised for growth. Trend of Price reduction moving toward county. Statewide numbers for Realtor sales of single-family existing homes looked good in May of 2009, according to the North Florida Forecaster newsletter. The newsletter is a publication of the Lake City Board of Realtors. People who are in the house-buying mode as end users will find Lake City to be a good market now, said Lake City Board of Realtors Executive Vice...
Comments 0
By Chad Stewart, Broker Associate - Real Estate Pro
(Rockford Realty Group)
Lake City, FL is definitely experiencing more short sales, foreclosures, & over REO or Bank owned properties & home sales than even just 1 year ago. Although we still do not seem to be even close to south Florida in terms of a REO dominated market to the levels of a 80-90% range. Locally we are at about 30% of our home sale business is Foreclosures & Short Sales. 152 residential properties sold YTD Jan thru June 13th 2009 in my north FL county (Columbia Count) "rural FL" 49 of those were REO, Foreclosure, Shortsales or approximatly 30% of the Market. Median sales price for all 152 sales YTD was $114,450 or about 80% of original list price for 2009 YTD. Last Year, 2008 YTD thru 6-13-2008, by comparison there were 186 sales YTD with only maybe 15 or so REO,Foreclosure, or Short Sales bein...
Comments 0
By Bruce Dicks, Realtor, e-PRO
(Saucer Realty and Capital)
Wow, what a game last night! The Fl. Gators in softball won with 2 outs in the bottom of the last ending with a gran slam! They now will pay in the 2009 NCAA Championship Game starting tonight on ESPN2.    The Baseball Team also won last night by beating UM 16-5 and will advance. Go Gators! Bruce Dicks, Realtor Coldwell Banker Bishop Realty Lake City, FL. Real Estate
Comments 0
Yesterday, I received the April report from The Lake City Board of Realtors comparing April, 2008 to April, 2009 for the Lake City, Fl. areas. In April, 2008 there was 34 homes sold and in April, 2009 there was 29 homes sold. That is a negative 15%.The good news for Home Buyers is, in the same time frame, the Median Sales Price went from $156.650 to $125,000. That is a big negative 20% in price.Looking for Lake City, FL. Real Estate? Check out www.NorthFlHomesandLand.com .Thanks Bruce Dicks, Realtor, e-PROColdwell Banker Bishop Realty, Lake City, Fl.
Comments 1
By Sandy Kishton
(RE/MAX Professionals)
Wow! it has been a little too long. Have I been busy? Yes and no! Since my last post I've been on a 2 week Route 66/Vegas vacation that was awesome! I'm continuing to stay in touch with prospective buyers, most who have homes to sell before they can buy. I'm steadily maintaining my current listings and trying to figure out creative ways to move them. I've been fairly successful in getting price reductions as needed, but in some cases, still can't compete with short sales and pending foreclosures in the area. Here's a picture of our current market:     1/6/2009 2/9/2009 3/16/2009 4/6/2009 5/6/2009 Available Inventory 449 426 419 414 424               # Homes Pending 39 48 49 46 48               Closed Sales 19 15 30 18 24               Absorption Rate 23.63158 28.4 13.96667 23 17.66667  ...
Comments 2
By Chad Stewart, Broker Associate - Real Estate Pro
(Rockford Realty Group)
FLORIDA REAL ESTATEA monthly UF survey finds an increase in confidence for the Florida real estate market. "Positive responses ... lead us to believe there is light at the end of the tunnel," says Timothy Becker, director of UF's Bergstrom Center for Real Estate Studies. According to Becker, many respondents believe that government stimulus efforts are working. Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-051309.cfm Local Real Estate Info Http://www.chadstewart.com
Comments 0
By Dan Magstadt
(Paramount Residential Mortgage Group, Inc)
The Attorney General of New York (Andrew Cuomo) started quite an uproar with an investigation into the appraisal process and the mortgage industry. Fannie Mae & Freddie Mac quickly moved to appease him & subsequently agreed to huge changes to the way appraisals are handled.     The resulting settlement agreement, the Home Valuation Code of Conduct or HVCC makes the following changes: All appraisals must be ordered through a third party, called an Appraisal Management Company (AMC). A broker can no longer order an appraisal from a specific local appraiser that is an established professional,  well versed in their local market....The order goes to an AMC & they choose the appraiser, usually an appraiser that is not nearly as qualified, but is willing to work for a reduced fee (The AMC kee...
Comments 8
By Bruce Dicks, Realtor, e-PRO
(Saucer Realty and Capital)
If you would like a FREE 2 pc Kentucky Grill Chicken Meal, please go to www.oprah.com and click on the bottom that says Free KFC. This coupon can only be downloaded and printed today (5/6/09), but it is good until 5/19/09, except for Mothers Day. Looking for Lake City, Fl. Real Estate? Check out www.NorthFlHomesandLand.com . Thanks Bruce Dicks Coldwell Banker Bishop Realty Lake City, Fl.
Comments 4
A few days ago, I received the March numbers from The Lake City Board of Realtors comparing March 2008 to March 2009 for the Lake City, Fl. areas. In March 2008 there was 54 homes sold and in March 2009 there was 34 homes sold. That is a negative 37%.The good news for Home Buyers is in the same time frame the Median Sales Price went from $166,200 to $156,000. That is a negative 6% in price.Looking for Lake City, FL. Real Estate? Check out www.NorthFlHomesandLand.com .Thanks Bruce Dicks, Realtor, e-PROColdwell Banker Bishop Realty, Lake City, Fl.
Comments 0
By Chad Stewart, Broker Associate - Real Estate Pro
(Rockford Realty Group)
Here is some great news..., yes buyers get in there & start making your move. Well priced properties are selling quick. - Chad Stewart - Lake City, FL RECOVERY ON THE WAY?Housing Predictor - which monitors over 250 residential property markets nationwide - says Florida appears to be emerging from the realty slump before any other state, including California. The Sunshine State is seeing population growth, and single-family home and condominium sales have been on the rise for more than six months. Foreclosures and short sales presently account for approximately 67 percent of all sales and often are not included in real estate agents' tallies. Additionally, banks in many Florida housing markets are cranking out more home loans, and sellers finance almost 20 percent of all sales. Source: F...
Comments 0
By Dan Magstadt
(Paramount Residential Mortgage Group, Inc)
Are you sitting down?? The government has actually gotten something right for once!! For any veteran that is in the market to purchase a home know this - A government backed VA loan is superior to any loan product available today. VA loans are the absolute best way to go in today's mortgage environment. Some benefits:  No down payment No monthly mortgage insurance The seller can usually pay all of your closing costs Loan amounts up to $417,000 (higher in some cases) No min/max income requirements to qualify Flexible debt-to-income ratios (Up to 60% w/ good credit) Credit scores as low as 580 allowed  In the past VA loans were more difficult to originate than conventional loans: more paperwork, inspections, hoops to jump through, etc. Recently however, guidelines/requirements have been m...
Comments 3
By Chad Stewart, Broker Associate - Real Estate Pro
(Rockford Realty Group)
RENTERSRenters who have never missed a payment sometimes find themselves on the street because a landlord lost their house to foreclosure. But for $25 per year, a new program, RealtyTrac Renter Alerts, will monitor the home and inform renters about any foreclosure activity.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n4-040609.cfm
Comments 0
By Bruce Dicks, Realtor, e-PRO
(Saucer Realty and Capital)
The Columbia County Commissioners voted and past to stop Impact Fees for Lake City, Fl. and Columbia County until 1/1/10. They will then look at the issue again. The Impact Fees that have been collected from 1/1/09 until now will also be paid back to anyone who has paid them.If you are looking to build a home or buy a new mobile home and put it on some property in Lake City or Columbia County, now would be a great time. For all your Lake City, Fl. Real Estate needs, check out www.NorthFlHomesandLand.com .Thank YouBruce Dicks, RealtorLake City, Fl.Coldwell Banker Bishop Realtywww.NorthFlHomesandLand.com
Comments 0
I have just received the February figures from The Lake City Board of Realtors comparing February 2008 to January 2009 for the Lake City, Fl. areas. In February 2008 there was 23 Homes sold and in February 2009 there was 33 homes sold. That is a positive 30%. Yea! The good news for Home Buyers is in the same time frame the Median Sales Price went from $155,000 to $125,500. That is a negative 19% in price. If you are a Home Buyer now is a good time to buy. Looking for Lake City, FL. Real Estate? Check out www.NorthFlHomesandLand.com . Thanks Bruce Dicks, Realtor, e-PRO Coldwell Banker Bishop Realty Lake City, Fl.
Comments 0
By Bruce Dicks, Realtor, e-PRO
(Saucer Realty and Capital)
My son on the way to school today asked my wife, why are there real estate signs in the garage? She answered that it was sign on properties that did not sell. He said that he knew the answer as to why real estate is not selling. I am his daddy and I thought it was funny. If it is not I am sorry. Below is his answer;  It is the weeds fault. If people had money to spray for weeds they could buy real estate. HAHA! So now that I know the answer after all this time, if anyone has the money to spray for weeds and is looking for Lake City, Fl. real estate, check out www.NorthFlHomesandLand.com . Thank You Bruce Dicks, Realtor Coldwell Banker Bishop Realty Lake City, Fl.  
Comments 12
By Bruce Dicks, Realtor, e-PRO
(Saucer Realty and Capital)
The Columbia County Commissioners and the Columbia County School Board held a workshop last night (3/3/09). The County Commissioners will meet again this Trues. 3/4/09 to take a vote on stopping the Impact Fees for at least one year for Lake City, FL. and Columbia County. There was several Builders, Developers, Land owners and Realtors that attended in support of them stopping the Impact Fees. Most of the Columbia County School Board Members where not for it, but The County Commissioners are all for it and has the final say. It looks like from the meeting, that the Impact Fees will stop for one year. If you have been thinking about building a home or buying a mobile home and putting it on a piece of property in or around Lake City, Fl., you might have timed it perfect. Check out my web ...
Comments 0