2012: Is Now The Time To Buy a Florida Home?

2012: Is now the time to buy a Florida Home?   It never fails, New Years rolls in and experts expound on what they expect the coming year will bring with it.  Most are saying the Real Estate Market will not recover until 2014.   But I beg to differ.   InKissimmee St Cloud Florida homes sales are up.

Real Estate will do different things in different parts of the country.  Home prices  in St Cloud and Kissimmee Florida  hit bottom in December 2010.   This was a direct result of the release of foreclosed homes hitting the market and achieving bottom end sales. This actually suppressed gains in home values.   The number of sales however, rose.  Although the prices were far from impressive compared to California, or Nevada (the other two major areas with the highest foreclosure rates in the country)  What is controlling existing homes sales are lenders.

CREDIT SCORES– You will need a credit score of 720 now to qualify for a home mortgage loan.  Lenders are scrutinizing applicants much more closely for risk.  While there is money to be had, it will be more difficult to obtain if you have been late, or reckless in your spending or have not been paying close attention to making your payments on time.

LOAN PROGRAMS– Are still in abundance. Fannie Mae and Freddie Mac are the primary holders. FHA loans are still available with 3.5% downpayment requirements and sufficient funds for closing costs. 

VA Loan Programs– also abundant-expect to see a rise in applications as returning Veterans utilize their benefits.

Conventional Loans– This applies primarily to second homes, vacation homes, and investment properties. 20% down payment is required, and the property is subject to approval as well from the lender. Look for additional conditions and terms to the loan.

CASH– is making significant rises in  purchases of Kissimmee St Cloud existing home sales.  Lower prices attract buyers who are looking to capitalize on the distressed housing market.  Many are diversifying their portfolios away from stocks, and back into Kissimmee St Cloud Florida  Real Estate. 

Refinancing:

 Some investors  are utilizing their high value home equity ( in other parts of the country), where the Real Estate market has been more stable to finance acquisitions of second homes in distressed markets. Strategically a good plan.  In the northeast for instance property values are still significantly higher than they are in Kissimmee Florida Area, as a result, a home owner who had equity in their home prior to the market collapse, is still in a great position to refinance using a HELOC Loan and use those funds for financing a second home purchase in Kissimmee or St Cloud Florida.

 Homes in Kissimmee St Cloud Florida make great investments for two primary reasons:

 They are selling below the National Average, and offer a great rate of return as rentals.

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The biggest shift, will be from owning to renting.  The 1.5 million foreclosures means more families relocating to rental property. Be it apartments or single family homes.  Look for an increase in demand in rental housing in 2012.

More foreclosures coming…. another 3.5 Million people Nationwide are behind on their mortgage payments. With new laws going into effect regarding unemployment compensation and the new sliding scale of allowable weeks is likely to apply additional pressure to delinquent borrowers, as a result  this number can be expected to rise. 

St.Cloud Homes & Land, LLC is a full service Licensed Real Estate Agency Providing OUTSTANDING customer service and commitment to excellence for its clients. Kissimmee Homes, St Cloud Florida Homes, Kissimmee Vacation Homes, Kissimmee Town Homes, Kissimmee Condos, St Cloud Vacation homes, St Cloud Town Homes, St Cloud fl historic homes, St Cloud Fl condos, all Osceola County Real Estate Properties.

Our Customer call us “ The best in business”, call us 407-545-8002

St.Cloud Homes & Land, LLC
Providing Professional Real Estate Services
2490 Bronco Drive
St. Cloud, FL 34771
Phone: 407-545-8002 | Email: Allison@Kissimmee-stcloudflhomes.com

Making your transition to owning your next St Cloud Kissimmee Florida home a pleasant experience.