Wednesday, August 31, 2011

30 Year mortgage rates fall to all time low.

Rate on 30-year mortgage falls to lowest on record.
Mortgage Rate Trend Index
Almost half (47%) of industry experts polled by this week expect no changes in mortgage rates over the short term. However, one third (33%) foresee an increase, while 20% predict further declines.
WASHINGTON – Aug. 19, 2011 – The average rate on a 30-year fixed mortgage has fallen to its lowest level on records dating to 1971.

The rate on the most popular mortgage dipped to 4.15 percent from 4.32 percent a week ago, Freddie Mac said Thursday. Its previous low of 4.17 percent was reached in November.

The last time long-term rates were lower was in the 1950s, when 30-year loans weren’t widely available. Most long-term home loans lasted 20 or 25 years.

For more information of homes for sale near the beach, on the river, golf course homes or foreclosures go to

Tuesday, August 30, 2011

MLS 512600

MLS 512600

Super affordable 2 Bdr/2Bas condo near the beach and major
shopping. Community pool and river dock.
Sold furnished.

For more information of homes for sale, condominiums, foreclosures
and land go to

Miles of white sandy beach-explore Daytona Beach and more!

Daytona Beach best sandy beach.

Sources: Fl. Dept. of State; Visit Florida; US. Census Bureau; Bureau of Economic  Business Research (University of Florida); State of

   1,000 People move to Florida each day
12 International Airports
1,200 Miles of Sand Beaches
1,250 Golf Courses
1,800 Miles of Coastline
14 Deepwater Ports

For more information about real estate in Daytona Beach area or Ormond Beach, Port Orange area of vacation homes, condominiums or homes on the beach, river or golf course go to:

Sunday, August 28, 2011

$5000.00 Grants for 1st time military buyers.

Active duty personnel, veterans, retired members of the military, and employees of the U.S. Department of Defense and the Department of Homeland Security are eligible to apply for up to $5000.00 in down payment and closing costs in the purchase of a first home.  The national nonprofit Pentagon Federal Credit Union Foundation is offering the assistance through its Dream Makers program and says the grants can be applied to a mortgage from any financial institution.  More info is then go to Dream Makers link.

For more information of homes for sale, foreclosures, beach homes, river front homes and condominiums go to http:///

Friday, August 26, 2011

Only 3.5% down to purchase a home!!!

FHA, Federal Housing Administration was first created in 1934.
Borrowers who have a FICO score lower than 580 must put up a 10% downpayment to qualify.
Two year stable income, fewer than 30 days late payments on a credit report.
FHA limit amount varies depending on the market of the property being purchased.

For more information of homes for sale near the beach, oceanfront, riverfront or condimiums or foreclosures go to

Thursday, August 25, 2011

Get a cool tax credit with that new air conditioner or furnace.

Florida county green tax incentives
Some Florida cities and counties offer their own tax incentives for green building. For a reference list, visit the U.S. Department of Energy website.
WASHINGTON – Aug. 25, 2011 – There are few certainties in this world, but here’s one: When it’s hot enough to fry an egg and a serving of hash browns on the sidewalk, your air conditioner will shudder and die.

A new air conditioner could save your sanity and quite possibly your marriage, but a new heating and air conditioning system doesn’t come cheap. The good news: You may be able to get some of that money back when you file your tax return. The bad news? You would have been eligible for a much larger tax credit if you had replaced your HVAC last year.

In December, Congress extended tax credits for energy-efficient home improvements through 2011, but it also pared them back. The maximum tax credit you can claim for most energy-efficient home improvements in 2011 is $500, down from a maximum credit of $1,500 in 2009 and 2010. The law also caps the amount you can claim for specific projects.

For example, the maximum tax credit you can claim for an energy-efficient heating and cooling system is $300, says Helen O’Planick, an enrolled agent in Manchester, Pa. The maximum credit you can claim to replace your leaky windows is $200.

Still, a modest tax credit is better than none at all. Homeowners who are considering energy-efficient improvements should take advantage of it while it lasts, because there’s no guarantee the credit will be extended, O’Planick says.

If you’ve made your home more energy-efficient this year, or plan to do so in the near future, here’s what you need to know:

The $500 credit is a lifetime maximum. If you’ve claimed $500 or more for energy-saving home improvements since 2006 – the first year the credits became available – you’re out of luck.

The maximum applies to the taxpayer, not the property. For example, suppose you claimed $500 in energy-efficient improvements in 2007, then sold the house and bought a new one. You can’t claim the credit for any work done on your new house, because you’ve already hit your lifetime maximum, O’Planick says.

The credit is limited to your primary residence. A new heat pump may reduce the cost of heating your ski chalet, but you can’t claim a tax credit for it.

The contractor or manufacturer should be able to provide a statement certifying that the product or component qualifies for the tax credit. You don’t have to submit this with your tax return, but should keep it with your tax records, along with your receipt for the purchase.

In general, windows, insulation and other energy-efficient home improvements qualify for the credit as long as they have an Energy Star designation. Energy Star products must meet energy-efficiency guidelines established by the Department of Energy and the Environmental Protection Agency.

Not all Energy Star products qualify for the tax credit. O’Planick says she often hears from taxpayers who believe they’re eligible for a federal tax credit because they purchased a new Energy Star refrigerator or washer-dryer. These appliances may cut your energy bill, but they don’t qualify for the energy-efficient tax credit, O’Planick says. Ovens, ceiling fans, room air conditioners and light fixtures don’t qualify, either.

However, while such products are ineligible for the federal tax credit, they may qualify for a state rebate. Last year, three dozen states offered rebates to residents who purchased Energy Star appliances. Most of those programs have been closed, but a few states are still accepting applications. For more information, go to

Homeowners who plan more ambitious energy-efficiency improvements are eligible for a larger tax credit and have more time to claim it. You can claim a tax credit of up to 30 percent of the cost of geothermal heat pumps, solar-energy systems, wind-energy systems and fuel cells. There is no cap on this credit, and it’s available through 2016.

There’s still time to claim a credit for energy-efficient home improvements made in 2009 or 2010. If you failed to claim the credits for the year in which you made the improvements, you can amend your return, O’Planick says.

It’s worth the effort: Improvements made in those years are eligible for a maximum lifetime credit of $1,500. You can find more information about the tax credit and eligible home improvements at
For information of homes for sale near the beach, river front homes, golf course homes, condominiums or foreclosures go to

Monday, August 22, 2011

Housing affordability hovers near record level !!!

August 22, 2011 – Aug. 22, 2011 – Nationwide housing affordability during the second quarter of 2011 hovered for the 10th consecutive quarter near its highest level in the more than 20 years, according to National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI).

According to the HOI, families earning the national median income of $64,200 could afford 72.6 percent of all new and existing homes sold in the second quarter. The affordability measure dipped slightly from the record high of 74.6 percent set in the first quarter, but it remained above the 70 percent threshold initially achieved in the first quarter of 2009.

“At a time when homeownership is within reach of more households than it has been for more than two decades, and interest rates are at historically low levels, the sluggish economy and the extremely tight credit conditions confronting homebuyers and builders remain significant obstacles to many potential home sales,” says Bob Nielsen, chairman of the National Association of Home Builders (NAHB). “That said, however, some housing markets across the country have stabilized and are beginning to show signs of a budding recovery.”

Youngstown-Warren-Boardman, Ohio-Pa., was the most affordable major housing market in the country during the second quarter of the year. In Youngstown, 93.7 percent of all homes sold were affordable to households earning the area’s median family income of $54,900.

Also ranking near the top of the most affordable major metro housing markets were Syracuse, N.Y.; Indianapolis-Carmel, Ind.; Dayton, Ohio; and Lakeland-Winter Haven, Fla.

Among smaller housing markets, the most affordable was Kokomo, Ind., where 95.8 percent of homes sold during the second quarter of 2011 were affordable to families earning a median income of $59,100. Other smaller housing markets ranking near the top of the index included Wheeling, W.Va.-Ohio; Lansing-East Lansing, Mich.; Bay City, Mich.; and Sandusky, Ohio.

New York-White Plains-Wayne, N.Y.-N.J., led the nation as the least affordable major housing market during the second quarter of 2011. In New York, 25.2 percent of all homes sold during the quarter were affordable to those earning the area’s median income of $67,400. It marks the 13th consecutive quarter that the New York metropolitan division has held this position.

Other major metro areas near the bottom of the affordability index included San Francisco-San Mateo-Redwood City, Calif.; Santa Ana-Anaheim-Irvine, Calif.; Los Angeles-Long Beach-Glendale, Calif.; and Honolulu, respectively.

Ocean City, N.J., where 40.9 percent of the homes were affordable to families earning the median income of $70,100, was the least affordable of the smaller metro housing markets in the country during the second quarter. Other small metro areas ranking near the bottom included Laredo, Texas; Santa Cruz-Watsonville, Calif.; San Luis Obispo-Paso Robles, Calif.; and Santa Barbara-Santa Maria-Goleta, Calif.

© 2011 Florida Realtors®

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Recycle old batteries...

For more information of homes for sale, condominiums, foreclosures or great deals go to

Sunday, August 21, 2011

MLS 512600

MLS 512600

Located in walking distance to beach and major shopping.
Fish for your dinner and take it up to your unit.
Sold furnished with a view to the river and pool.

For more information of homes for sale, condominiums and foreclosures
go to

Thursday, August 18, 2011

Should you own a home or rent?

"Despite the current housing downturn, Americans still see homeownership as a core value and a key building block of being in the middle class and creating strong jobs in their communities," said Celinda Lake, president of Lake Research Partners, which conducted the survey along with Public Opinion Strategies.

For more information of homes for sale near the beach, river front homes, golf course homes, condominiums or foreclosures go to

Saturday, August 13, 2011

Mortgage rates fall again, 30-year near record low.

Mortgage rates fall again, 30-year near record low
Mortgage Rate Trend Index
Experts polled by this week remain divided on the short-term fate of mortgage rates. An equal number (36%) expect a decrease or, at least, no change. The remaining 28% foresee an increase.
WASHINGTON – Aug. 12, 2011 – Fixed mortgage rates fell to at or near record lows. That’s good news for the few who can afford to buy a home or are able to refinance. But the rates have done little to lift the ailing housing market.

Freddie Mac said Thursday that the average rate for the 30-year fixed mortgage fell to 4.32 percent this week from 4.39 percent. The 30-year loan hit a record low of 4.17 percent in mid-November.

The average rate on a 15-year fixed mortgage, a popular refinancing option, fell to a record low of 3.50 percent, from last week’s record rate of 3.54 percent.

Mortgage rates tend to track the yield on the 10-year Treasury note. A weakening U.S. economy has led many investors to shift money from stocks to bonds, which are seen as safer bets. That has pushed Treasury yields to historic lows.

In theory, low mortgage rates should provide a boost to the troubled housing market. But so far they haven’t helped much.

Sales of previously occupied homes fell in June for a third straight month to a seasonally adjusted 4.77 million. The pace is lagging behind the 4.91 million homes sold last year – the fewest since 1997.

New-home sales also declined in June and are trailing last year’s sales, which were the worst on records dating back nearly half a century.

Many people can’t take advantage of the low mortgage rates. Banks are insisting on higher credit scores and larger down payments from applicants. Others have too little equity invested in their homes to qualify for loans.

To calculate average mortgage rates, Freddie Mac collects rates from lenders across the country on Monday through Wednesday of each week.

The average rate on a five-year adjustable-rate mortgage fell to 3.13 percent, its lowest level on records that go back to January 2005. Last week’s reading of 3.18 percent also was a record low.

The average rate for one-year adjustable-rate loans plunged to 2.89 percent from 3.02 percent last week. That’s a record low dating back to 1984.

The rates do not include extra fees known as points. One point is equal to 1 percent of the total loan amount.

The average fees for the 30-year and 15-year fixed loans was 0.7 point and the five-year and one-year adjustable-rate loans was 0.5 point.
AP Logo Copyright 2011 The Associated Press, Derek Kravitz (AP Business Writer). All rights reserved. This material may not be published, broadcast, rewritten or redistributed
For more information of homes for sale on the river, vacation homes, homes near the beach, condominiums or foreclosures go to

Friday, August 12, 2011

Live at the beach for only $99,000

MLS 512694

Very cute one bedroom condo at the beach.

For more information of homes for sale, foreclosures and condominiums
go to

Thursday, August 11, 2011

How to get help with down payment to buy a home.

The information is very please go to previous posting to read the six ways to get help.

For more information of homes for sale go to
Most home buyers’ biggest hurdle is coming up with the cash for a sensible down payment. Gone are the days of zero-down loans, so if that was your plan, you’re going to need a new one! Coming up with a down payment for a home is a challenge because it’s not chump change we're talking about, here. The down payment on a $200,000 house, for example, will run you anywhere from $7,000 (on an FHA loan) to $40,000!

That might seem like an insurmountable amount of coin to come up with, but it’s actually more doable than you might think. Some buyers will simply save up their own cash, even if it takes many, many moons. The good news is that if you still need some help to boost your down-payment savings, there are resources you can harness to power your home-buying pursuit.

  1. The FHA Bridal Registry works like a traditional registry, but is more flexible. The registrants visit their choice of FHA mortgage lenders and set up what essentially is a custodial savings account for the sole purpose of funding their down payment. The couple’s (or individual’s) family and friends can either deposit funds directly into the account or give the cash or check to the couple or individual, who then deposits it into the account. The account’s flexibility also goes beyond that of traditional down payment gift rules that are applicable to FHA loans, which are detailed below in insider secret #2. With the FHA Bridal Registry Program, the only gift documentation required is “lender and borrower certification of the funds.”
  2. Family gifts.  Most lenders will allow home buyers to apply gift money from family members toward their down payment - within guidelines, that is. First, the lender will require a letter from the giver verifying that it in fact is a gift and not a loan. (They generally frown upon it being a loan because it would add to the buyer’s debt and change their debt-to-income ratio.) And second, the person giving you the money must be a relative. The reasoning here is that a friend will most likely expect you to repay the money, whereas a relative won’t.
  3. FHA loans will allow the gift to make up any portion or all of the buyer’s down payment, many conventional (non-FHA) loan programs will restrict the proportion of a buyer’s down payment that can come from gift money.  The lender may also have specific ways they want to see the money go into and out of your accounts. Before you accept a gift toward your down payment, be sure to check with your mortgage broker or loan rep to be sure that you’re dotting all the right i's and crossing all the right t's.Your Employer.  Some companies offer assistance programs to employees. Most are government, university, large company and financial industry employers. One example is safety workers: n some areas, safety workers like firefighters and police can have access to down payment grants from their employers if they buy properties in the city where they are on-call as first responders. Also, many large colleges and universities, very large companies and banks and lending institutions offer down payment help and have below-market-rate mortgages set up for faculty members and staffers.  Check with yFor more information of homes for sale of river front homes, ocean front homes, foreclosures, condominiums or cheap homes go to
  4. City/County/State Programs.  Some states, counties and cities still offer programs that lend or give home buyers some assistance for down payments. These programs vary widely in scope - for instance, many target buyers with low and moderate incomes, while some seek to help the buyers of foreclosed or fixer-upper type homes. Some don’t have to repaid - meaning they are given as grants and are forgiven entirely if the buyer lives in the property for 30 years, but must be repaid if the buyer sells or rents the home out before the 30 years elapses. The programs pretty much all have some sort of homeowner education component that requires applicants to take personal finance and homeownership preparedness classes before they can receive funds. To learn more, visit your city, county and state websites to learn about programs that might be able to help you.
  5. Your Human Resources department to see if any such program is available to you.
  6. Your Retirement Funds.  Many financial advisors would advise against this, but if you have a 401K or Roth IRA account and some years to go before retirement, you might be able to tap into it or even borrow against your own funds for your down payment. Currently, you can take up to $10,000 out of your Traditional IRA with no penalty to put toward the purchase of your first home, but you will be taxed.  You can take as much as you want out of your Roth IRA contributions with no penalty or taxes, though, and as much as $10,000 from your earnings penalty-free for your down payment.  The rules get a little tricky, here, so definitely check in with your tax and financial advisors.
  7. And while you can’t similarly draw from your 401K, many retirement and pension plans will allow you to borrow the money against your funds, then repay it to yourself – at interest. So the choice there comes down to paying your lender back with interest or paying yourself with interest. That choice should be you! But first, get some advice from your CPA or financial planner. This option might not make financial sense for your particular situation.

Wednesday, August 10, 2011

Why should you hire a realtor?


Monday, August 8, 2011

Beach house for $85,000

Click on the link to view this affordable home near the core of downtown
beachside Daytona Beach and major attractions.

For more information of homes for sale near the ocean, river front homes, condominiums or foreclosures
or exceptional good deals go to

Saturday, August 6, 2011

Sold furnished and near the beach.

MLS 512600

Here is your chance to own a unit totally redone located at the river
and near the beach, major shopping and restaurants.
Sold furnished.

For more information of homes for sale, condominiums or foreclosures
go to
MLS 512600

Larger corner lot pool home

MLS 520358

Great value. Rolling gate to park your boat trailer or RV.
Call to see.

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Thursday, August 4, 2011

Now is the best time for buy real estate.

For more information of homes for sale on the golf course, river front homes, ocean front homes, condominiums or foreclosures go to

Monday, August 1, 2011

MLS 516518

MLS 516518

Super affordable condo located a short distance to the beach, shopping and restaurants.
Sold furnished.
Great vacation residence or live in full time.
Totally redone.

For more information of homes for sale, golf course homes, river front homes and foreclosures
go to