Official says a strong housing market is crucial for the economy Reuters-WASHINGTON - Only 12 percent of U.S. homeowners eligible for loan modifications under the Obama administration’s housing rescue plan have had their mortgages reworked, and millions more foreclosures are coming, the Treasury Department said on Wednesday.   A Treasury report showed 360,165 people had their monthly payments reduced through August, up from 235,247 through July, but a senior Treasu... Read Full Story

The volume of home re-sales has been on the upswing for four consecutive months. By Les Christie, CNNMoney.com staff writer Last Updated: August 21, 2009: 11:04 AM ET NEW YORK (CNNMoney.com) — Sales of existing homes rose in July for the fourth consecutive month, lending support to economists who argue a recovery is near. Sales of previously owned single-family homes were up 7.2% compared with June and 5% from July 2008, The National Association of Realtors (NAR) reported Frid... Read Full Story

TAMPA – Aug. 17, 2009 – Homes haven’t been this affordable in decades. Real estate agents have plenty of business. Desirable properties can be had for less than half the price of two years ago. So why aren’t sales booming? Fear. “I had a deal fall through the week before closing because the buyer lost his job,” said Joe Perez, a real estate agent with ERA The Polo Group in Tampa. People worry about losing their jobs in this economy, worry values will continue to freefall. Primarily, ... Read Full Story

WASHINGTON – Aug. 13, 2009 The number of U.S. households on the verge of losing their homes rose 7 percent from June to July, as the escalating foreclosure crisis continued to outpace government efforts to limit the damage. Foreclosure filings were up 32 percent from the same month last year, RealtyTrac Inc. said Thursday. More than 360,000 households, or one in every 355 homes, received a foreclosure-related notice, such as a notice of default or trustee’s sale. That’s the highe... Read Full Story

Now Is The Time To Buy AT Reunion Resort This really is a great time to buy a home.  At least in Orlando Florida, all is not gloom and doom.  In fact if the national media wasn’t constantly reminding us of how bad it is supposed to be, you would think the real estate market is doing just fine.  There is definitely NOT a wholesale tumbling of prices in our market, but on the same hand the savvy buyers are getting tremendous values.  The ke... Read Full Story

MIAMI – Aug. 4, 2009 – Jose Garcia looks over the contract for his Gables Estates home with Realtor Audrey Ross, who deals with the ultra-luxury housing market. The price of Garcia’s home: Just under $20 million. Elite Realty. “Now, we’re getting five, six, 10 families coming through. I’m really praying and keeping my fingers crossed this is a permanent thing.” Confidence seems to be returning, as well as a rising tide of money from outsid... Read Full Story

ORLANDO, Fla. – May 27, 2009 – Florida’s existing home sales rose in April – the eighth consecutive month that sales activity increased in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors® (FAR). April’s statewide sales showed gains over the previous month’s sales level in both the existing home and existing condominium markets. Existing home sales rose 18 percent last month with a total of 13,111 homes sold statewide c... Read Full Story

TAMPA, Fla. – May 18, 2009 – Ray White thought now was the perfect time to help his daughter buy her first home. Home prices are more affordable than they have been in years, interest rates are low, there are plenty of homes on the market, and the federal government is offering an $8,000 tax credit. But because of one problem after another, every house they find seems out of her reach – even though she’s approved for a loan and has a downpayment. “The... Read Full Story

Historically high housing affordability and low mortgage interest rates, combined with buyer opportunities in the distressed sales market, have increased home sales in many areas of the country. “There has never been a better time to buy,” said National Association of Realtors Chief Economist Lawrence Yun, who presented NAR’s economic outlook at the Economic Issues and Residential Real Estate Business Trends Forum  that took place during the Realtors Midyear ... Read Full Story

ORLANDO, Fla. – May 12, 2009 – Sales of existing single-family homes in Florida rose 25 percent in first quarter 2009 compared to the same period a year earlier, according to the latest housing statistics from the Florida Association of Realtors® (FAR). A total of 31,412 existing homes sold statewide in 1Q 2009; during the same period the year before, a total of 25,071 existing homes sold. It marks the third consecutive quarter that Florida has reported higher existing h... Read Full Story