Tips to prepare your budget before buying a new home!

It's virtually impossible to know what size home you can afford if you aren't fully aware of how much money you are earning and how much you are spending each month.

Start with your income: How much do you bring home after taxes and retirement plan contributions?

Next, look at your expenses: What are your necessary expenses? How much are you paying each month toward your debt? What additional expenses do you have that wouldn't be deemed "necessary?" How much money do you have left (if any)?

Consider the potential costs of being a homeowner

While rent payments are generally straightforward and predictable, the same can't always be said for homeownership costs. Your situation can vary depending on a variety of factors, but here are a few things you might need to prepare your budget for.

Property taxes: The amount you pay will depend on the area in which you are purchasing a home. This amount can be subject to annual adjustment by the municipality or local taxing authority.

Homeowners insurance: Lenders will require you to provide proof of coverage before closing. The amount you pay will depend on your level of coverage, your property and the location. Insurance costs can increase from time to time.

Private mortgage insurance (PMI) or mortgage insurance premiums (MIP): If your down payment is less than 20 percent on a conventional mortgage, your lender will require you to carry private mortgage insurance. If you have an FHA loan, you'll be required to pay mortgage insurance premiums throughout the life of the loan.

Homeownership assistance: A company like Unison Home Ownership Investors can strengthen your downpayment overnight and eliminate the need for private mortgage insurance (see their Unison HomeBuyer program). Using this method will typically save you between 15 and 20 percent per month on your mortgage payment, but you could owe a portion of the appreciation on the home when you sell.

Homeowners association fees: Fortunately, not all homes have a homeowners association to pay into. Purchasing a home with HOA-covered amenities could cost, on average, an additional $200-$400 per month.

Maintenance fees: Ah, the pitfalls of being a homeowner. The costs that would normally fall to a landlord, like fixing broken plumbing or a heater on the fritz, will now fall on your shoulders. Some suggest saving one percent of your home's value annually for maintenance.

Utility costs: Unless your rent has included the cost of utilities, this is probably already an expense you're used to. However, if you're moving into a bigger home with less energy efficient appliances, you should be prepared to see an uptick.

Start living like a homeowner

If you want to avoid experiencing sticker shock after your home purchase is complete, start living like a homeowner now.

Consider your current rental or homeownership costs and compare them to the costs for a home in your target price point. Can your current budget handle the difference? Are you still able to pay for your necessities plus shore up your financial future through short- and long-term savings? Or do you find yourself feeling desperate by the end of the month?

Determine where to make adjustments

Does living like a homeowner make you a little wary for what's next? Now is the perfect time to create space in your budget by cutting back expenses and paying down debt.

Now that you know where your money is going, determine the unnecessary leaks. Maybe your monthly food bill is exorbitantly high. Or maybe your subscription services have gotten out of hand. If your priority is purchasing a home - and being financially comfortable in that home - work to cut expenses that are contradictory to that goal.

Next, tackle your debt. There are two big benefits to beefing up your debt repayments now: You can lower your monthly obligation and improve your chances of getting approved for a loan. It's a win-win.

Copyright © 2019, St. Charles County Journal. All rights reserved.

Don’t be afraid to come to me early for advice on buying a home, it is such a rewarding adventure we will take on together. Here’s a few tips I have:
-Split your auto deposit between 95% checking and 5% saving on a monthly basis. What you can’t see you can’t spend.
-Cut back on little luxuries like that daily cup of Starbucks coffee, take out food, & deliveries! Instead pack a sandwich or brew at home it smells amazing!
-Take that $10 & stick it in an empty coffee can instead, it adds up! Read Pay it Down, $10 a day. Jean Chatzky has a simple recipe that is manageable.
-Freeze that monthly gym membership, instead go for runs outside, walk your doggies, or utilize free workout apps.
-Earn extra income by babysitting, dog walking, tutoring, or driving an Uber/Lyft. While it’s important to reserve cash in order to save up for a house, it’s equally important to pay off any outstanding debt you already have.
-Create a Mint account, Mint makes it easier to track your spending, create a budget, and stick to it!
-Invest in an insta pot or Air Fryer & challenge yourself to learn to cook! You will save tons of money, it’s super healthy, and you’ll look like a rockstar when you cook for all your friends in your brand new home!!
-Bar bills add up drink at home... Checkout the movie “Cocktail” oldie but goody... mixologists are the life of the party!

I’m so real... and I will really help you! Call me I’m always happy to help!

Hurricane Irma Update: SCPS Closure

Seminole County Public Schools will be open on tomorrow, Thursday, September 7 and Friday, September 8. We will be closed on Monday, September 11. Seminole County is expected to feel the brunt of Hurricane Irma this Sunday. We will assess campuses on Monday and make further school closure decisions at that time. In addition, all school-related extracurricular activities and facility rentals have been cancelled Saturday through Monday until further notice. We will continue to communicate via our website, social media, phone/email blasts, and local news.

We would like to remind our families to stay up-to-date with the local news and to take all necessary precautions in order to remain safe throughout the storm. Visit PrepareSeminole.org to make a plan, get a kit, and stay informed! In addition, visit AlertSeminole.org to sign-up to receive future emergency and weather-related updates!

Thank you!

-Seminole County Public Schools (SCPS)

THURSDAY-SATURDAY: $1 PET ADOPTIONS!

Seminole County Animal Services is offering $1.00 pet adoptions Thursday-Saturday, 10:00 a.m until 4:00 p.m.
The shelter is full; storms generally bring a significant increase in stray intakes. For anyone who adopts a pet Thursday, September 7 through Saturday, September 9 and decides the pet is not a great fit for their family, Animal Services will accept the returned animal with no questions asked.
For a list of adoptable pets, visit seminolecountypets.com.
For more information, email dgagliano@seminolecountyfl.gov or call 407-665-5208.

Community Relations Officer Ashley Moore, Seminole County AGENCY

Scott declares emergency!

TALLAHASSEE, Fla. – Sept. 5, 2017 – Gov. Rick Scott on Monday placed all of Florida under a state of emergency as the projected path of Hurricane Irma could take the powerful storm toward the southern part of the state by the end of the week.

The declaration is intended to give local governments in all 67 counties time to prepare, the governor's office said.

"Hurricane Irma is a major and life-threatening storm and Florida must be prepared," Scott said in a statement.

"Today, given these forecasts and the intensity of this storm, I have declared a state of emergency for every county in Florida to make certain that state, federal and local governments are able to work together and make sure resources are dispersed to local communities as we get prepared for this storm," he added.

Scott has been advising people the past couple of days – through Twitter – to prepare for the storm by visiting the Florida Department of Emergency Management's disaster page, which focuses on individuals, businesses and special needs Floridians.

"Families should take time today to make sure you have a disaster plan and fully-stocked disaster supply kit," Scott tweeted on Monday. "I am continuing to coordinate with emergency management officials as we monitor Hurricane Irma."

Hurricane Irma continues to fluctuate, but it's a Category 5 storm that may diminish only slightly if it passes over Caribbean Islands. The storm was moving towards the west at 13 mph, but most experts predict it will start to turn – but no one knows yet when that will happen. The National Hurricane Center said Monday that while it's too early to determine where the storm will go, "There is an increasing chance of seeing some impacts from Irma in the Florida peninsula and the Florida Keys later this week and this weekend."

Price gouging
Attorney General Pam Bondi also activated Florida's price gouging hotline for all consumers in Florida law prohibits extreme increases in the price of essential commodities, such as food, water, hotels, ice, gasoline, lumber and equipment needed as a direct result of an officially declared emergency. Anyone who suspects price gouging during this declared state of emergency should report it to the Attorney General's Office by calling 1-866-9-NO-SCAM.

Association and business preparations
Businesses should also be prepared for a storm to make sure operations can continue afterword. Following the series of storms in 2004, Florida Realtors created a preparation plan for local associations, though the recommendations generally apply to brokers too. For more info on other Florida Realtors efforts, including its tax-deductible Disaster Relief Fund, visit the website.

"In Florida, we always prepare for the worst and hope for the best, and while the exact path of Irma is not absolutely known at this time, we cannot afford to not be prepared," Scott said in Monday's statement. "This state of emergency allows our emergency management officials to act swiftly in the best interest of Floridians without the burden of bureaucracy or red tape."

Source: News Service of Florida, Jim Turner

Average mortgage rates fall again to new 2017 low!!

WASHINGTON (AP) – Aug. 31, 2017 – Long-term U.S. mortgage rates fell this week. It was the fifth straight weekly decline for the benchmark 30-year rate, which again reached a new low for the year.

Mortgage buyer Freddie Mac says the rate on 30-year, fixed-rate mortgages fell to 3.82 percent from 3.86 percent last week. A year ago, the rate stood at 3.46 percent. It averaged 3.65 percent for all of last year.

The rate on 15-year, fixed-rate home loans dipped to 3.12 percent from 3.16 percent last week. Those loans are popular with homeowners refinancing their mortgages.

AP Logo Copyright © 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Florida housing market: Sales & median prices up in July!

ORLANDO, Fla. – Aug. 24, 2017 – Just like the weather, Florida's housing market was hot in July with more closed sales, higher median prices, increased pending sales and more new listings, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 24,546 last month, up 2 percent compared to July 2016.

"Florida's housing market gained momentum in July," says 2017 Florida Realtors President Maria Wells, broker-owner with Lifestyle Realty Group in Stuart. More owners decided to put their homes up for sale. However, even with the increase in new listings, inventory remains tight and buyer demand is great. New listings for single-family existing homes rose 6.1 percent year-over-year, while new listings for existing condo-townhouse properties rose 5.5 percent. Homes continue to sell quickly, resulting in increased pending sales – up 3.3 percent for single-family homes and up 3.6 percent for condo-townhouse units.

The statewide median sales price for single-family existing homes last month was $240,000, up 7.1 percent from the previous year, according to data from Florida Realtors Research department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in July was $170,950, up 6.8 percent over the year-ago figure. July marked the 68th month-in-a-row that statewide median prices for both sectors rose year-over-year. The median is the midpoint; half the homes sold for more, half for less.

"Florida's rate of employment growth continues to outpace the nation's, and a substantial number of Florida's millennials have started looking for their first home. At the same time, however, rents are still quite high, so homes in these price ranges remain attractive to investors, as well."

Inventory remained tight in July with a 3.9-months' supply for single-family homes and a 5.6-months' supply for townhouse-condo properties, according to Florida Realtors. According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.97 percent in July 2017; it averaged 3.44 percent during the same month a year earlier.
For the full statewide housing activity reports, go to the Florida Realtors Research & Statistics section on floridarealtors.org. Realtors also have access to local market stats (password protected) on Florida Realtors' website. "In such a fast-paced, tight-inventory market, consumers' best resource is a local Realtor, who is there to help successfully guide them through the complexities of buying or selling a home."

© 2017 Florida Realtors®

More than 700 homes to be built on 200+ acres of land next to Lake Howell in Seminole County!

A residential community with 250 town homes and 458 single-family houses is slated for Howell Branch Road in south Seminole County. Meritage Homes Corporation bought more than 200 acres on Howell Branch Road and east of Semoran Boulevard to develop a community being called Hawk’s Crest. The purchase price was about $40 million, property records show. New homes will have 1,600 to 5,200 square feet with three to six bedrooms. Prices are expected to range from $260,000 to $635,000 with sales starting in late 2018 and closings planned for early 2019, according to the company.

Mary Shanklin Contact Reporter
Orlando Sentinel
August 18, 2017

Florida tops Forbes list with 7 of the "Best Investment" cities!

NEW YORK – Feb. 3, 2016 – Where should real estate investors put their money in 2016? Forbes teamed up with North Carolina-based data company Local Market Monitor to produce its list of 2016 Best Buy Cities – the top 20 housing markets to invest in this year – and Florida dominates the list.

According to Forbes, Florida offers good values "where investors get the best bang for their housing buck, and where aspiring homeowners have the best prospects of making an economically sound purchase."

Orlando took second place and was followed by six other Sunshine State cities. Among them, average home prices are highest in West Palm Beach (No. 19) at $285,000 and lowest in Tampa (No. 14) at $193,000. The averages, though, have been accelerating at a rate of 9 percent to 14 percent in all the Florida cities.

Florida's domination of the list makes a lot of sense in light of the national economic recovery, says Ingo Winzer, founder and president of Local Market Monitor. "Since the national economy has stabilized and is growing again, the factors that prompt people to go to Florida have recovered," he reasons.

"Best-buy" markets for 2016 housing

1. Grand Rapids

2. Orlando, Florida

3. San Antonio, Texas

4. Charlotte, North Carolina

5. Salt Lake City

6. Dallas

7. Austin, Texas

8. Fort Lauderdale, Florida

9. Seattle

10. Cape Coral, Florida

11. Indianapolis

12. North Port, Florida

13. Nashville, Tennessee

14. Tampa, Florida

15. Charleston, South Carolina

16. Denver, Colorado

17. Madison, Wisconsin

18. Jacksonville, Florida

19. West Palm Beach, Florida

20. Boise, Idaho

Forbes' full list is also posted online.

Source: Forbes (01/27/16) Carlyle, Erin

© Copyright 2016 INFORMATION, INC. Bethesda, MD (301) 215-4688

Exciting 2016 Forecast: "Normal" Real Estate Market

This year may have been the best for housing since 2007, but the market will likely get even rosier in 2016, according to a recent real estate forecast by realtor.com®.

One of the main drivers behind the brighter 2016: The projection that employment will continue to grow, which will add to consumers' wallets and allow them to purchase their first home or upgrade to a new one.

Realtor.com housing predictions for 2016:

1. 'Normal' is coming
Expect a healthy growth in home sales and prices – at a slower pace than in 2015. "This slowdown is not an indication of a problem – it's just a return to normalcy," writes Jonathan Smoke, realtor.com's chief economist. "We've lived through 15 years of truly abnormal trends, and after working off the devastating effects of the housing bust, we're finally seeing signs of more normal conditions."

New construction and distressed sales are expected to return to more historic levels, and home prices are expected to follow at "more normal rates consistent with a more balanced market."

2. Generational buying trends shape up
Young adults' presence on the housing market has been largely predicted for years, but 2016 may finally be the year they make a move in a larger way. Millennials represented nearly 2 billion sales in 2015 – one-third of homebuyers. They are expected to continue to be a major buying pool in 2016 with the majority of buyers between ages 25 and 34 expected to be first-time homebuyers next year.

But two other generations will also have a big presence in 2016: financially recovering GenXers and older baby boomers entering retirement, realtor.com® notes.

"Since most of these people are already homeowners, they'll play a double role, boosting the market as both sellers and buyers," Smoke says. "Gen Xers are in their prime earning years and thus able to relocate to better neighborhoods for their families. Older boomers are approaching (or already in) retirement and seeking to downsize and lock in a lower cost of living."

3. New-home construction focuses more on affordability
Builders face higher land costs, limited labor and concerns about the demand of the entry-level market. As a result, they shifted to constructing more higher-priced homes, which caused new-home prices to rise significantly faster than existing-home prices.

In 2016, they'll likely shift to more affordable products to cater to the entry-level buyers. "We are already seeing a decline in new-home prices for new contracts signed this fall," notes Smoke. "In addition, credit access is improving enough to make the first-time buyer segment more attractive to builders."

4. Higher mortgage rates
Mortgage rates will likely be volatile in 2016. But the recent move by the Federal Reserve to guide interest rates higher should push mortgage rates higher in the new year than the historical lows they have been at for years. The 30-year fixed-rate mortgage will likely end 2016 about 60 basis points higher than today's level, according to realtor.com predictions.

"That level of increase is manageable, as consumers will have multiple tactics to mitigate some of that increase," Smoke says. "However, higher rates will drive monthly payments higher, and, along with that, debt-to-income ratios will also go higher." The markets with the highest home prices will see the effects most.

5. Rents to go up even higher
Rental costs are skyrocketing, and they'll probably keep going up in 2016. More than 85 percent of the nation's markets have rents that exceed 30 percent of the income of renting households.

"Rents are accelerating at a more rapid pace than home prices, which are moderating," Smoke says. "Because of this, it's more affordable to buy in more than three-quarters of the U.S. However, for the majority of renting households, buying is not a near-term option due to poor household credit scores, limited savings, and lack of documentable stable income of the kind necessary to qualify for a mortgage today."

Source: "The 5 Real Estate Trends That Will Shape 2016," realtor.com (Dec. 16, 2015)

© Copyright 2016 INFORMATION, INC. Bethesda, MD

"If you SEE something, SAY something"

The Florida Department of Law Enforcement (FDLE) re-launched its "If You See Something, Say Something" campaign after the recent terror attacks.

"As the holidays approach, we remind our citizens to remain vigilant," said FDLE Commissioner Rick Swearingen. "It's important that we are aware of our surroundings and report suspicious behavior to law enforcement."

Florida initially launched the "If You See Something, Say Something" campaign in 2011. Although the campaign never ended, FDLE is redistributing information to law enforcement and media partners asking them to consider reposting the information.

Officials encourage anyone who sees suspicious activity to report it to local authorities or call 1- 855-FLA-SAFE (1-855-352-7233). It can also be reported online through FDLE's website.

Examples of suspicious activity include things like:

People drawing or measuring buildings for no known reason
Strangers asking questions about building security procedures
People in secure areas where they're not supposed to be
Leaving behind briefcases, suitcases, backpacks or packages

The "If You See Something, Say Something" campaign, originally implemented by New York City's Metropolitan Transportation Authority and now licensed to the Department of Homeland Security, is a "simple and effective program to engage the public and key frontline employees to identify and report indicators of terrorism and terrorism-related crime to the proper law enforcement authorities."

© 2015 Florida Realtors®

Fannie Mae reports things are looking up for housing!

WASHINGTON – June 10, 2015 – Americans' attitudes about the housing market are strengthening, according to Fannie Mae's May 2015 National Housing Survey, a survey of about 1,000 consumers on their views about homeownership. The survey results echo recent forecasts that predict a pickup in housing activity for the year.

In the latest survey, more consumers reported an increase in household income, nearing an all-time survey high. The growth in wages falls in line with the recent positive jobs reports that show an increase in average hourly earnings. The percentage of consumers surveyed by Fannie Mae who say their household income is "significantly higher" than 12 months ago grew six percentage points to 28 percent over the past two months.

"As job growth appears to be driving meaningful income growth, the outlook for housing market growth also is improving," according to Fannie Mae's report.

The share of consumers who say it's a good time to sell a home continues to rise, also reaching an all-time survey high in May at 49 percent of respondents – six percentage points higher year-to-year. In addition, the number of consumers who would prefer to buy rather than rent on their next move rose three percentage points in May to 66 percent.

"Things are looking up for housing," says Doug Duncan, senior vice president and chief economist at Fannie Mae, noting the survey high for those who say it's a good time to sell, as well as the growing percentage of consumers who say their household income is significantly higher than last year.

"We have found that these two indicators – good time to sell and income growth – are key drivers for the performance of the housing market," Duncan says. "The increase in these indicators suggests our forecast of moderate improvement in the housing market in 2015 is on course and mirrors the near-term performance of other leading market data, including mortgage applications and pending home sales."

The survey also found:

Consumers say they believe home prices will rise by 2.8 percent, on average, in the next 12 months.
The number of respondents who believe mortgage rates will go up in the next 12 months dropped to 47 percent.
Consumers say they believe rental prices will rise about 4.3 percent in the next 12 months.
The percentage of respondents who believe it would be easy to get a home mortgage fell by 2 percentage points to 50 percent, while those who think it would be difficult remained at 46 percent.
Source: Fannie Mae

© Copyright 2015 INFORMATION, INC. Bethesda, MD

Get your Lent on by taking the St. James Lenten Challenge!

We know that sometimes life and circumstance may make a challenge difficult or impossible to complete. That is why we will have each week’s challenges posted or emailed to you. If you can not do a particular days challenge just swap it out with another one from the week.
Copyright © 2015 St. James Catholic Cathedral - Orlando, FL


Week 1: February 18th – 21st:
Feb 18: Observing the rules of fasting and abstinence are already a challenge for some us. Today, take 5 minutes to pray that the Lord will help reveal His kindness through you during this year’s Lenten challenge.

Feb 19: “The measure of who we are is what we do with what we have” – Vince Lombardi
Make a donation, say a prayer or learn more about a charity you have never supported before.

Feb 20: Smile and say “Hello” to everyone you meet today (no exceptions).

Feb 21: “Where I live if someone gives you a hug it’s from the heart” – Steve Irwin
Hug someone you love randomly and for no reason.

Week 2: February 22nd – 28th:
Feb 22: Turn off all electronics and spend time with family or friends
Feb 23: Praise someone for their hard work

Feb 24: “I always prefer to believe the best of everybody, it saves so much trouble.” – Rudyard Kipling
Refrain from Gossip for the entire day

Feb 25: Pray for the victims of human trafficking

Feb 26: Bring a treat to your co-workers or friends at school

Feb 27: “Kindness is in our power, even when fondness is not” – Samuel Johnson
Think of someone you do not like and say a prayer for them

Feb 28: Clean out a drawer (or four) and donate things you have not used in more than a year to charity

Get your Lent on with a fun challenge! Check it out Stjamesorlando.org Simply be kind, say hello, or offer a hug! God Bless...❤️

Move Inc. ready to take on Zillow-Trulia

The real estate portal space is heating up with Zillow and Trulia finalizing their merger Tuesday. The number of major competitors serving this market has been reduced to two big titans: Move Inc., which operates realtor.com, and Zillow-Trulia.

Following the Zillow-Trulia announcement, Move released a statement saying, "2015 will mark Zillow's year of the merge and realtor.com's year of the surge."

"My expectation is that the two of us will wage a spirited battle for the hearts and minds of consumers and the industry, and we will push each other to be better performers – more focused on the customer, quicker to innovate, more committed to adding value at every stage of the real estate cycle. In this way, everyone wins," said Move CEO Ryan O'Hara in an e-mail yesterday to Move employees.

Zillow finalized its acquisition of Trulia Inc. for $2.5 billion in a stock-for-stock transaction Tuesday. The acquisition forms Zillow Group Inc., which also houses New York-based StreetEasy and rental search brand HotPads.

However, the newly merged company faces increased competition now that realtor.com's operator has the force of News Corp behind it. This past November, the global media company, which operates real estate portals internationally and owns titles such as The Wall Street Journal and Barron's, completed its acquisition of Move Inc., effectively tying its name to the Realtor® brand.

"There is no digital replacement for the human touch," said Rupert Murdoch, executive chairman of News Corp, during the Real Estate Connect conference in New York in January. "No technology can meet all of someone's needs. It takes a real person. … We want the shortest distance between the American Dream and a family's reality to be realtor.com."

The acquisition has already proved a boon to Move's traffic. Entering 2015, Move Inc.'s web and mobile traffic jumped more than 30 percent. In January, Move reported an all-time high of 37 million unique visitors to realtor.com.

"Move/realtor.com is extremely well positioned to compete and thrive in this environment of industry consolidation and data-driven customers," O'Hara said in his e-mail to employees. "Competing in business typically involves trying to be better, cheaper, faster or different than your competition.

"How will we compete? By continuing to build the best web and mobile experiences for consumers, and the best and most valuable tools for brokers and agents, and by providing the market with the most comprehensive, most accurate, and most up-to-date listings in the U.S. I can also promise you we will quicken the pace of product innovation and apply more marketing muscle to our consumer and industry outreach."

Source: Realtor® Magazine Daily News

I am honored to be your digital replacement, a "real person" that cares!
Your friend & Realtor®,
Kris

Kris Julian | Realty Executives Seminole | 3899 W. Lake Mary Blvd. Suite 123 | Lake Mary, FL 32746 | 407-421-6187 | http://www.kris-julian.com |

Average U.S. rate on 30-year mortgage rises to 3.69%

Average long-term U.S. mortgage rates rose this week yet remained near historically low levels. Mortgage company Freddie Mac said Thursday the nationwide average for a 30-year mortgage jumped to 3.69 percent from 3.59 percent last week. The average rate is still at its lowest level since May 2013.

The rate for the 15-year loan, a popular choice for people who are refinancing, increased to 2.99 percent from 2.92 percent last week.

A year ago, the average 30-year mortgage stood at 4.28 percent and the 15-year mortgage at 3.33 percent. Mortgage rates have remained low even though the Federal Reserve in October ended its monthly bond purchases, which were meant to hold down long-term rates.

Government data released last Friday showed a resurgent job market in January, signaling that the economy is finally regaining the kind of strength typical of a robust recovery. U.S. employers added 257,000 jobs last month, after 329,000 in December and a sizzling 423,000 jobs in November, the Labor Department reported. The November and December gains were much higher than the government had first estimated.

The job gains could boost the housing market, which has been recovering in the past few years from the recession but has struggled to maintain momentum.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage was 0.6 point, down from 0.7 point last week. The fee for a 15-year mortgage was unchanged at 0.6 point.

The average rate on a five-year adjustable-rate mortgage jumped to 2.97 percent from 2.82 percent. The fee rose to 0.5 point from 0.4 point.

For a one-year ARM, the average rate increased to 2.42 percent from 2.39 percent. The fee remained at 0.4 point.

 Copyright © 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The best seasons to sell a home!

Spring is traditionally considered the best season to list a home, but it doesn't inch out the other seasons by much, according to a new analysis by the real estate brokerage Redfin.

Redfin's research team analyzed 7 million homes listed from 2010 through 2014 to gauge how important the season is in listing a home. It examined how many of the homes went under contract within 30 days and how often they sold for more than their list price.

Here's how the seasons stacked up:

• 39% of the homes listed in the spring (between March 21 and June 20) in the past five years went under contract within 30 days, and 15 percent sold for more than the list price.
• 38% of homes listed in the winter (Dec. 21 – March 20) sold within 30 days and 14 percent sold for more than the list price.
• 36% of homes listed in the summer (June 21 – Sept. 20) were under contract within 30 days and 12 percent sold above the list price.
• 34% of homes listed in the fall (Sept. 21 – Dec. 20) went under contract within 30 days and 11 percent sold at a premium.

Over the past five years prices have increased by an average of 3% month over month in the spring and ticked down by about 1% each month during the fall. To get the best of both worlds, sellers need be informed on both local buyer demand and recent sale prices in their neighborhoods before deciding when to list their homes and for what price. There doesn't appear to be a huge advantage or disadvantage to listing in any season, since the variance in prices is only by a few percentage points.

Source: "Should I Wait Until Spring to List My Home? Not Necessarily," Redfin Research Center (Feb. 5, 2015)

© Copyright 2015 INFORMATION, INC. Bethesda, MD (301) 215-4688

Selling your home? Call your REALTOR®

1. Your REALTOR® can guide you through the closing process and make sure everything flows together smoothly.
2. When selling your home, your REALTOR® can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.
3. Your REALTOR® markets your property to other real estate agents and the public. Often, your REALTOR® can recommend repairs or cosmetic work that will significantly enhance the salability of your property. Your REALTOR®markets your property to other real estate agents and the public. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your REALTOR® acts as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc. The REALTOR® Code of Ethics requires REALTORS® to utilize these cooperative relationships when they benefit their clients.
4. Your REALTOR® will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. The National Association of REALTORS® studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.
5. Your REALTOR® can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing -- a lot of possible pitfalls. Your REALTOR® can help you write a legally binding, win-win agreement that will be more likely to make it through the process.
6. Your REALTOR® can help close the sale of your home. Between the initial sales agreement and closing (or settlement), questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. Your REALTOR® is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).

I am honored to be your Realtor®,
Kris!

Realty Executives Seminole | 3899 W. Lake Mary Blvd. Suite 123 | Lake Mary, FL 32746 |
407-421-6187 | http://www.kris-julian.com

Dedicated Central Florida Realtor®

2014 Orlando housing market ends with price up, sales steady - Orlando Regional Realtor Association

2014 Orlando housing market ends with price up, sales steady - Orlando Regional Realtor Association

The return of the 3% downpayment

A growing number of lenders are reducing downpayment requirements so that borrowers can contribute 3% or less of a home's purchase price and still qualify for financing. In addition, some lenders have waived mortgage-related fees, and others are allowing downpayments from outside sources, such as the buyer's family. Most lenders target the new deals at buyers with stellar credit scores and steady income who have not been able to save enough for a substantial downpayment. Some types of low-downpayment mortgages have been around for a long while. The Federal Housing Administration (FHA) insures home loans with down payments as low as 3.5%, and it's lowering the annual mortgage-insurance premiums charged on new mortgages starting today. The lower-downpayment trend accelerated after Fannie Mae and Freddie Mac recently lowered the minimum down payments they will accept from 3-5%, driven by a White House campaign to make homeownership more affordable to a wider group of Americans.

Source: MarketWatch (01/26/15) Andriotis, AnnaMaria © Copyright 2015 INFORMATION, INC. Bethesda, MD (301) 215-4688 

Please reach out for more info and assistance, I'm always happy to help. Thank you & have a beautiful day! Kris

Kris Julian | Realty Executives Seminole | 3899 W. Lake Mary Blvd. Suite 123 | Lake Mary, FL 32746 | 407-421-6187 | http://www.kris-julian.com | 

"I am honored to be your Real Estate Professional and appreciate your confidence in me to always help you and your family!"

Dedicated Central Florida Realtor® 

Lower gas prices = Lower mortgage rates

The U.S. Energy Information Administration (EIA) reported that the price of regular gasoline was $2.13 per gallon – its lowest point since a peak of $4 per gallon in May 2011. EIA estimates that the savings could amount to $550 per household in 2015. The drastic drop in oil prices could put downward pressure on mortgage rates. 

"Lower oil prices mean a lower inflation rate, which pushes down mortgage rates," economists note at the National Association of Realtors®' (NAR) Economists' Outlook blog. Indeed, the 30-year fixed-rate mortgage averaged 3.66 percent last week – the lowest average in 20 months – according to Freddie Mac's weekly mortgage market survey. Taking into account the median home price of $205,300, a 0.75 percentage point drop in mortgage rates could yield a savings of about $1,000 annually, according to NAR researchers.

Source: "Recent Oil Trends and What They Mean for the Housing Recovery," National Association of REALTORS® Economists' Outlook Blog (Jan. 12, 2015)

© Copyright 2015 INFORMATION, INC. Bethesda, MD (301) 215-4688