Destin Florida Real Estate: May 2008

Friday, May 30, 2008

Destin Florida Real Estate Market Trends-5/30/08

The Destin Florida Real Estate market like many others is starting to see a nice return to normal. With the condo market and the summer season getting people back into the mood and interest rates staying stable. Destin Florida Real Estate seems to be moving in the right direction. To see more of the trends in the Destin Florida Real Estate market, please visit any of the links below:

Destin FLORIDA Real Estate

Crestview Florida Real Estate
2008 Resale Housing Trend Report
2007 Resale Housing Trend Report

Destin Florida Real Estate
2008 Resale Housing Trend Report
2007 Resale Housing Trend Report

Ft. Walton Florida Real Estate
2008 Resale Housing Trend Report
2007 Resale Housing Trend Report

Navarre Florida Real Estate
2008 Resale Housing Trend Report
2007 Resale Housing Trend Report

Niceville Florida Real Estate
2008 Resale Housing Trend Report
2007 Resale Housing Trend Report

Pensacola Florida Real Estate
2008 Resale Housing Trend Report
2007 Resale Housing Trend Report

For the availability of real estate for sale in the Destin Florida Real Estate Market, please feel free to use any of the following websites:

http://www.destin-florida-mls.com/
http://www.destin-florida-condominiums.info/
http://www.randbcoastalrealestate.com/
http://www.investsmarter.com/

Saturday, May 24, 2008

Destin Florida Real Estate: Destin Florida Real Estate-Better Terms Coming for Jumbo Loans

Destin Florida Real Estate-Better Terms Coming for Jumbo Loans

Daily Real Estate News May 23, 2008

Better Terms Coming for Jumbo Loans

Executives from Fannie Mae and Freddie Mac told Congress on Thursday that they are reducing interest rates on some jumbo mortgages.They said their more aggressive purchases in recent weeks of loans between $417,000 and $729,750 have brought rates down.Prices still remain relatively high compared to rates for lower amounts because investors believe borrowers will refinance as soon as rates decline. HSH Associates, a financial publisher in Pompton Plains, N.J., said its surveys showed the average rate last week for a 30-year fixed-rate mortgage of $417,000 or less eligible for sale to Fannie or Freddie was 6.17 percent. The average for such loans of between $417,000 and $729,750 was 6.61 percent, or 0.44 of a percentage point higher.

Source: The Wall Street Journal, James R. Hagerty (05/23/2007)

What Does this mean for the Destin Florida Real Estate Market?

With the majority of resort and upscale homes in Destin Florida's Real Estate market going for well in excess of $417,000 Jumbo limits play a major factor. When you are looking at Destin Florida Real Estate loans as high as $1M-$5M .25 percent can play a major role in your monthly payment. Even on the $600,000 and under homes and condominiums you can see a savings of around $1,000 a month on your payment! With the decline and thoughts of "where's the bottom?" many people are a little worried and with mortgage rates up and down like a yoyo...buyers are worried also about when is the right time to buy. The good thing is the Destin Florida Real Estate market is stabilizing and even though rates are going up and down, for the most part the swings are narrow. Ensure that when you are looking to purchase a Destin Home or a Destin Condo, you are working with a qualified agent. That not only includes your Destin Florida Real Estate agent, but also your Destin Florida mortgage broker. Please feel free to visit more about the Destin Florida Real Estate market online at InvestSmarter or R & B Coastal Real Estate where you can search the entire Destin Florida MLS.

www.InvestSmarter.com
www.RandBCoastalRealEstate.com

Monday, May 19, 2008

Destin Florida MLS update

Well this weekend was as exciting as most...a lot going on in the market and new trends showing positive growth! We have taken things to another level with our web development and putting a little more information on the Destin Front. If there is a neighborhood of interest, please let us know. We started with the two new sections of our new www.destin-florida-mls.com website and put in the Destin and Destin Florida information. Please see below:

http://www.destin-florida-mls.com/destin-florida-real-estate/
http://www.destin-florida-mls.com/destin-real-estate/

The Destin Real Estate link will give external links also to the www.destin-florida-condominiums.info site with all of the available Destin Condominiums. Let us know if there are any of these also that you would like reviewed.

Have a great week!

www.InvestSmarter.com

Friday, May 16, 2008

Weekly Trend Data May 16th 2008

Home Sales, Prices Seen Rising in Late '08

Daily Real Estate News May 16, 2008

Home Sales, Prices Seen Rising in Late '08

First, the good news: home sales have stabilized over the last seven months and should increase slightly in the second half of 2008, NAR Chief Economist Lawrence Yun told a crowd of REALTORS® at NAR’s Midyear Legislative Meetings & Trade Expo Thursday. The other good news is that the subprime lending crisis is becoming a thing of the past. “I believe 2008 will be the year when we have to clean up and recover from the subprime mess,” said Yun. The bad news is that the numbers are in, and 2007’s annual sales volume of about 5.30 million homes was the lowest in 10 years. Luckily, the economy is stronger overall than it was a decade ago. “The difference is that we have 25 million more people and 13 million more jobs than we did 10 years ago,” he said. And while sales should begin to grow later this year, real improvement in the housing market won’t happen until 2009, when sales should climb to 5.71 million units, Yun said. Price Gains to Vary by MarketPrices also are expected to begin a turnaround later this year, although recovery will vary by market. Middle-America cities that performed evenly over the past few years – like Cincinnati, Milwaukee and the Kansas City, Mo., area – are likely to experience home price gains in the 20 to 30 percent range over the next five years, while markets like Miami, Las Vegas and Phoenix could see prices go up as much as 50 percent during that time period, Yun said.Healthier Mortgage Market Makes a DifferenceA brighter credit picture is a major contributor to this improvement, Yun said. If you look at where home prices fell the most, it’s the markets were subprime loans were prevalent,” Yun said. Cape Coral, Fla.; Detroit; Las Vegas; Miami; Orlando, Fla.; Phoenix and Riverside, Calif. were among the cities with a high percentage of subprime lending and where the markets suffered the biggest downturns, he explained.These markets should get a boost from a more stable mortgage market. FHA lending doubled to 6 percent of all loans 2007 and should grow to 10 percent in 2008. It should reach near-historic norms of 15 percent in 2009, said Yun. The increase will be slow because many lenders will have to be certified by the U.S. Department of Housing and Urban Development before they can issue FHA mortgages. Higher conforming loan limits at Fannie Mae and Freddie Mac have also helped lower interest rates and unlock the lending log jam for jumbo loans. Even current borrowers with adjustable mortgages are in better shape, thanks to Fed rate cuts. In fact, some adjustable loan borrowers may actually see their resets produce lower payments. “The Fed has done its job on resets; now it’s up to Congress to encourage the home buying that will help stabilize prices,” Yun said. Other Reasons to Be OptimisticThe home buyer tax credit currently being considered by Congress would also encourage uncertain buyers to act. Stabilized prices will not only encourage sales but could help reduce defaults, he added. The foreclosures aren’t all in the past, warned Yun, though he believes that many investors and speculators already have exited the market. He expects foreclosures to rise throughout 2008 and perhaps into 2009, primarily among subprime borrowers, where foreclosure rates were near 20 percent in the third quarter of 2007. Still, Yun notes, it’s important to remember that only 9 percent of home owners have subprime loans. Foreclosure rates for all loan types are much lower — currently, around 2 percent. — By Mariwyn Evans for REALTOR® magazine online

www.InvestSmarter.com
www.RandBCoastalRealEstate.com
www.Destin-Florida-MLS.com
www.Destin-Florida-Condominiums.info

Sunday, May 11, 2008

Weekly Trends for Destin Florida, Fort Walton Beach Florida, Crestview Florida, Pensacola Florida, Niceville Florida Week of 5/11/08

Wednesday, May 7, 2008

NAR Joins in Call to Stabilize Markets

Daily Real Estate News May 6, 2008

NAR Joins in Call to Stabilize Markets

The NATIONAL ASSOCIATION OF REALTORS®, in a letter to members of the U.S. House of Representatives, urged Congress to make the FHA and conforming loan limit increases permanent as part of the 2008 Housing Stimulus bill, which is expected to be marked up this week.Yesterday, Reps. Jerry McNerney, D-Calif., and Gary Miller, R-Calif., introduced H.R. 5958, the Homeowner Opportunity Act, making permanent the increase to FHA and conforming loan limits for high-cost areas. The bill will be considered as an amendment to the larger housing stimulus bill. “By making the loan limit increases to FHA, Fannie Mae and Freddie Mac permanent the mortgage market will achieve an immediate increase in liquidity,” said NAR President Dick Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif. “This increased liquidity should help drive down mortgage costs and create stability in the mortgage market.“As the leading advocate for homeownership, NAR applauds the bipartisan efforts by Congressmen McNerney and Miller in sponsoring this amendment. That can also help veterans, teachers, nurses, police officers and other working families to achieve the dream of homeownership by offering a safe and affordable alternative to risky subprime loans,” Gaylord said.NAR urges members of Congress to support the McNerney-Miller amendment. Higher loan limits are critical to ensure that homeowners and those who aspire to own a home are given the same safe alternatives for mortgages regardless of where they live. “It is simply a matter of equity for American families who live in high-cost communities,” according to Gaylord.Source: NAR

www.InvestSmarter.com
www.Destin-Florida-MLS.com
www.Destin-Florida-Condominiums.info
www.RandBCoastalRealEstate.com

Monday, May 5, 2008

Berkshire Hathaway Steps Up

Daily Real Estate News May 5, 2008

Buffett Does His Part to Keep Rates Stable

Berkshire Hathaway, the insurance and investment company chaired by Warren Buffett, the world’s wealthiest man, has bought portfolios of subprime mortgages and frozen their rates.Buffett, who spoke at Berkshire Hathaway’s annual meeting Sunday, said Clayton Homes, a unit of Berkshire that makes and provides financing on manufactured homes, purchased the subprime mortgages. Clayton sent letters to all the borrowers involved telling them the interest rates wouldn’t reset higher."We're not in the business of resetting mortgages higher," Buffett said.Source: Dow Jones Business News, Alistair Barr (05/04/2008)

www.InvestSmarter.com
www.RandBCoastalRealEstate.com
www.Destin-Florida-MLS.com
www.Destin-Florida-Condominiums.info

Friday, May 2, 2008

Destin Florida, Pensacola Florida, 30-A Florida Real Estate Weekly Trends

Thursday, May 1, 2008

And We Thought the Panhandle was Expensive!!!

Daily Real Estate News May 1, 2008

The First $2-billion Home is Coming

The world’s largest and most expensive home will be completed in January.The 27-story skyscraper in downtown Mumbai, India, will be the residence of Mukesh Ambani and his wife Nita. Ambani, head of Mumbai-based petrochemical company Reliance Industries, is the fifth richest man in the world.The couple who have three children, are custom designing their $2 billion property with help from architecture firms Perkins + Will and Hirsch Bedner Assoc., based in Dallas and Los Angeles respectively.The home will have 400,000 square feet of interior space, nine elevators, a ballroom and a section for security guards and assistants to relax.There will also be an ice room where residents and guests can escape the Mumbai heat and be dusted by man-made snow flurries.Source: Forbes, Matt Woolsey (04/30/2008)

www.InvestSmarter.com
www.RandBCoastalRealEstate.com
www.Destin-Florida-MLS.com
www.Destin-Florida-Condominiums.info

Destin Florida Real Estate