FHA to the Rescue!

by Linda Hutchinson

President Bush is set to unveil a proposal today that will rescue select homeowners around the country with risky “sub-prime” adjustable rate mortgages who otherwise might their homes to foreclosure. According to the Florida Association of Realtors, the Federal Housing Administration will insure new loans for up to 80,000 homeowners who previously paid their loans on time and have a minimum of 3% equity in their home.There are too many foreclosures, pre-foreclosures, and short sales on the market in Central Florida already. These three types of listings tend to have a detrimental effect on the market as they drive down price expectations for buyers, flood the market with houses owned by unmotivated sellers, and lower the market price of otherwise desirable properties. This proposal promises to keep up to 80,000 homeowners in their homes by allowing them to refinance at a lower rate, which is good news for Realtors and homeowners, and great news for the real estate market!

Builder Will Check Orlando Neighborhood for Bombs

by Linda Hutchinson

If you’ve been following the news in Central Florida for the past month or so, you’ve heard about the unexploded bombs from World War II found in a pasture less than 1/2 mile from Odyssey Middle School in southeast Orange County. This article in the Orlando Sentinel indicates that residents of two nearby neighborhoods will have the ground under their streets, sidewalks, and yards scanned, and any unexploded ordinance disposed of, courtesy of Lennar Homes, who originally developed part of the 950-acre Vista Lakes community.

I’m glad to hear that Lennar is taking responsibility for fixing this problem particularly since they don’t really know how much it will cost to fix this problem. The residents of those neighborhoods deserve peace of mind, and this seems like the first step toward regaining it.

Women Make Decisions Regarding Home Purchase…

by Linda Hutchinson

The National Association of Realtors has finally validated what I have been saying for over 17 years. Woman do make the decisions when it comes down to buying a home. Don’t get me wrong…they like suggestions or comments but what women are really looking for is validation to what they know is true…they want to buy a specific house. To any husband/partner/whatever who is reading this…just say yes. If your wife asks if you like the house (when you know she loves it) go with the flow. Whether corporate executive or valued housewife, the home remains the one place a woman knows what she likes. It’s just that simple.

Things are looking up…

by Linda Hutchinson

Call me crazy but I think the market is going to change! My rose colored glasses predict a subtle change and just as fall signals a change in temperature, change in colors and just simply change…so will our Orlando real estate market change. What could bring this about? A number of factors…but I think the most important reason would be if people would only remember WHY THEY BUY A HOME.

While buying a home is an investment in your future, it’s also about the pure dream of having a sanctuary that you can call your own. It’s NOT just about the money…it’s about a place where kids grow up, where futures are planned and where people live out their lives. It’s so much more than an asset. It’s the very fabric of our society and it’s worth remembering that home ownership is a privilege and where dreams come true for so many Americans. I wish people wouldn’t sweat the money part…I wish they would be more concerned about their personal happiness and the happiness of their families. Now that’s the world I want to live in!

My business, real estate, involves so much more than bricks and mortar. I know that. It is a business of families, hopes and dreams and I treat it that way.