49% of Sales = Pre-Foreclosures & Foreclosures

For the first time, the Orlando Regional Realtor Association examined “distress sales” in detail and found that 49 percent of the homes sold by its members last month were either owned by banks already or had been sold under financial pressure of some kind.

The report also revealed a wide disparity in market prices because of the large number of foreclosed properties:

• Bank-owned homes – those already through foreclosure – sold for a median price of $95,000.


• Homes for which lenders had agreed to take less than the amount owed on the mortgage – known as pre-foreclosures or “short” sales – sold for a median of $143,500.


• Homes marketed by owners not under financial duress sold for a median of $174,995.

$8000 Tax Credit for First Time Buyers

Still on the fence about buying your first home?

Here are 8000 more reasons to go forward. Congress recently enacted a tax credit of up to $8,000 for qualified first-time homebuyers purchasing a principal residence before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid.

For most Buyers, this will mean a nice tax refund next April.

Here's a chart showing details of the tax credit:
http://www.orlrealtor.com/files/pdf/TaxCreditChart.pdf

Brand New Downtown Home - $2000/month

Brand New Downtown Home!

$395,000 or rent to own @$2000/month

1404 E. Muriel St., Orlando, FL

BRAND NEW Home ~ Possible Owner Financing!
http://www.downtownorlandohome.com/

This brand new custom home is available immediately, and the owner will consider a lease purchase or partial owner financing. The price has just been lowered to $395,000.

You'll love all the luxury appointments: hardwood floors, granite in the kitchen and baths, real wood stair railing, stainless appliances, brick pavers, a butler's pantry, two heads in the master shower, sprinkler system and more.

You can't even see the most impressive features. This was constructed with solid concrete and steel construction, so you'll have low power bills.