Taylor Morrison Homes is currently in the final days of their Homemade Memories Contest. The winner of their video contest will receive one year of mortgages payments and you can also to win a year of mortgage/rent payments [$18,000] by registering and voting for one of the entries.
The Florida Comprehensive Assessment Test [FCAT] is the foundation of the statewide education assessment and accountability program. The FCAT results translate for the public the “education health” of Florida Students and hold school districts accountable for their progress.
Many homebuyers with children consider FCAT school grades in their decision process, often looking for homes within specific school zones. Homeowners often perceive an increase in value of their home due to highly ranked schools and promote their zoning when selling and consider it a benefit of the property.
What the FCAT means to the Seminole County Real Estate Market… Good grades really do matter, not just to students, but to Seminole County homeowners and homebuyers.
After much controversy, two audits and continuing objections of educators, the State of Florida released the 2010 FCAT results this week.
Seminole County Schools routinely rank high in the State of Florida and Seminole County High Schools currently rank in the top 3% of all High Schools nationwide in the annual Newsweek Magazine poll.
The High School Grades which include a factor for graduation rates have not been released at the time of this post, but will be available in an update as soon as they are published.
If you are interested in having your children attend a specific school, please email me at Debbie@MoveToLakeMary.com for a personal, customized home search for your school of choice.
Homes & Condos for sale: 387
Properties listed as short sales: 107 or 28%
Bank Owned/REO Properties: 26 or 7%
Same stuff, different month… The Lake Mary inventory of homes is almost unchanged after the month of July, just one less house for sale and the percentage of distressed properties remain the same . As we see the Summer Buying Season [the time when families typically move to have a lesser impact on their school aged children] come to a close we will really start to get an accurate picture of where the real estate market is and how much of an impact the First Time Homebuyer Tax Credit affected the market these past few months.
Homes & Condos for sale: 388
Properties listed as short sales: 98 or 25%
Bank Owned/REO Properties: 28 or 7%
The current inventory of homes available for sale in Lake Mary declined 7% last month. Typically as we go through the “Summer Home Buying Season” we see an increase in inventory as more homes enter the marketplace. We will be watching to see if the decrease in inventory is a trend towards a more balanced market.
Seminole County Homebuyers… the homebuyer tax credit has been extended until Sept 30th, 2010.
The Senate voted yesterday on a stand alone bill [HR 5623] to extend the closing deadline for homebuyers who were under contract on a home by April 30, 2010. The National Association of REALTORS estimates there are 14,830 homebuyers in Florida who are waiting to close and 180,000 nationwide.
Once the President signs the bill into law many of those patient homebuyers can breath a sigh of relief.
The majority of those waiting to close on their homes are purchasing short sale properties that are stuck in a backlog of files waiting for approval from the servicing lender.
This extension will give many deserving first time homebuyers the time necessary to close and receive the tax credit.
I know one family who’s very pleased with this GOOD NEWS!
The size of the new single family homes declined in 2009, dropping to an average of 2,438 square feet, which is still considerably larger than the home my husband grew up in with his 3 siblings that was a mere 1,450 square feet, but smaller than many of the 3000+ square foot behemoths that seemed to dominate the neighborhoods under construction during the “housing bubble” when bigger was often equated with being better.
Seeing now that many developers have revamped their original offerings and have opted to build smaller homes at a less expensive price point in order to stay afloat in the “New Economy” makes me hopeful that we’ve learned something during this economic downturn.
Today, more than ever, homebuyers are conscious of the costs associated with owning a home. Questions about utility costs and taxes dominate my conversations. I’ve noticed many new buyers entering the market place don’t want to purchase at the top of their “price range”. The realistic buyers of today work backwards into what size home they can afford, based on the real cost of ownership (principal, interest, taxes, insurance, maintenance and utilities).
Some economists say that we’ve had a fundamental reset of the economy, I think many out there have had a fundamental reset of the American lifestyle.
Homes & Condos for sale: 3,596
Properties listed as short sales: 1134 or 32%
Bank Owned/REO Properties: 462 or 13%
Seminole County Homes Under Contract
Homes & Condos under contract: 1,869
Short Sales: 1079 or 58%
Bank Owned/REO: 396 or 21%
Distressed Properties make up 79% of the homes under contract.
Seminole County Home Sales
May Home Sales: 541
Short Sales: 92 or 17%
Bank Owned/REO: 220 or 41%
Home Sales in Seminole County, Florida
Seminole County Real Estate Market Fact: 58% of the homes sold in Seminole County, Florida during the month of May were distressed properties. Seminole County includes the cities of Lake Mary, Sanford, Altamonte Springs, Casselberry, Winter Springs, and Oviedo.
Real Estate Market Trends and The Seminole County Homeowner… Most homeowners are surprised to find out that their home’s market value has possibly returned to what it was in 2003/2004 or “pre-bubble” pricing. The impact of short sales and foreclosures has had on the market is quite dramatic and is on a town by town and neighborhood by neighborhood basis. For more information about the value of your home, please visit our website for a free home valuation.
Homes & Condos for sale: 417
Properties listed as short sales: 109 or 26%
Bank Owned/REO Properties: 42 or 10%
The inventory of homes available for sale in Lake Mary continues to stabilize with little to no change in the quantity or the percentage of distressed properties in the marketplace. As we enter the “Summer Buying Season” we will be watching to see if the demand increases and waiting to see if more homeowners who are not in distress consider selling their current property and move up or downsize. We’ll be watching…
Lake Mary Homes Under Contract
Homes & Condos under contract: 209
Short Sales: 112 or 54%
Bank Owned/REO: 46 or 22%
Distressed Properties make up 76% of the homes under contract.
Lake Mary Home Sales
May Home Sales: 65
Short Sales: 8 or 13%
Bank Owned/REO: 31 or 48%
Home Sales in Lake Mary, Florida
Lake Mary Real Estate Market Fact: 61% of the homes sold in Lake Mary, Florida during the month of May were distressed properties.
Real Estate Market Trends and The Lake Mary Homeowner… Most homeowners are surprised to find out that their home’s market value has possibly returned to what it was in 2003/2004 or “pre-boom” pricing. The impact of short sales and foreclosures has had on the market is quite dramatic and is on a town by town and neighborhood by neighborhood basis. For more information about the value of your home, please visit our website for a free home valuation.
