SI Real Estate Tampa and The Beaches

Earlier this year the president reduced private mortgage insurance rates. FHA loans were more attainable for first time home buyers. Home owners that wanted to refinance and reduce their monthly payments could also participate in the reduction. Now Freddie Mac is about to roll out a new appealing option for home buyers: 3% down payment mortgages coming in March! Contributing to continued Real Estate recovery and stability, the guidelines of qualifying for this type of loan will not be as loose as the guidelines from the adjustable rate mortgage disaster in 2007-2008. Donald Layton, CEO of Freddie Mac, assured everyone that the 97% loan-to-value option will be limited to borrowers who can prove a “very good income”. Basically comforting the skeptics that this option will not be available for the average loan applicant. He also reinforced that “underwriting standards are stronger than ever”. Obviously they have learned from their past mistake of handing out mortgage loans to anyo...

Early 2015 quarterly reports reflect heavy increase in real estate activity, especially new homes. D.R. Horton is a nationally recognized home builder and has developments throughout the United States. They have been the largest home builder in the U.S. 13 years in a row. On Wednesday, D.R. Horton reported a dramatic increase in new home sales highlighted by “sales orders increased 40% in value to $2.1 billion” from the first quarter of 2014 to the first quarter of 2015. These numbers are significant considering that first quarter home sales are usually lack luster. What does this tell us? With the rising consumer confidence reports, buyers are investing in real estate and new homes sales are spiking. D.R. Horton has increased their land acquisitions and developed more communities recently to keep up with demand. Donald Horton, Chairman of the Board said ”our weekly sales pace has accelerated in January 2015, and we are well-positioned to capture demand in the spring sellin...

"Latest Home Sale Data reflects strong demand for affordable homes as 2015 kicks off” Back in 2008/2009 after the Real Estate market crashed, economic and Real Estate experts were repeatedly forecasting a 6-7 year recovery period. They all highlighted 2015 as the year we would see resurrection in the housing market. Well that prediction seems to be coming to fruition now! We are seeing many positive reports and trends from late 2014 to early 2015. We are starting to see the rebound all around Florida, but extra activity in Tampa Bay. The excitement/enthusiasm is building here and our team here at SI Real Estate is noticing. Normally home sales in January are expected to be lower than in July or August. However, this month the Home Sale Data is showing that buyers are confident again. Tampa Bay has surged in January with 4,700 homes sold so far. That is 23.5% better than December ’14 and 22.8% better than January of ’14. Buyers are aggressively purchasing, and homes a...

Reduction in FHA insurance makes home buying more affordable   The President announced on Wednesday that the federal government will reduce PMI insurance premiums on FHA loans with the goal of making it easier for Americans to own a home. This is fantastic news for anyone in the market for real estate since this reduction will save home buyers an average of $900 a year. The lower insurance premium will affect 800,000 home owners immediately, as they will save on their monthly mortgage payments. This change is coming out at a great time considering all of the other positive news in the Real Estate industry the first week of 2015. Unemployment is down, gasoline prices are the lowest in 7 years and spending power is up. In the Tampa Bay market, SI Real Estate is already noticing the enthusiasm and buzz this news is bringing to the area. Federal Housing Administration loans are largely popular for many home buyers in America. “I want to talk about helping more families a...