Central Florida Real Estate Blog

Just Listed! 3908 Santa Elena Lane Kissimmee, FL 34744

July 30th, 2014 12:49 PM by Joe Bornstein

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$188,900.00
3908 Santa Elena Lane

Kissimmee, FL 34744



Beds: 4 Rooms: 9
Full Baths: 2 Sq. Ft.: 1956
Garage: 2 Built: 2010
 

4-BED, 2-FULL BATH "WATERFRONT" HOME IN GATED RAINTREE AT SPRING LAKE VILLAGE! This one-owner, well-maintained home features a relaxing view of the lake from the backyard.
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Joe Bornstein
Rock Springs Realty, LLC
8773332811
www.rockspringsrealty.net



 
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As reported in the Orlando Sentinel (www.orlandosentinel.com) on July 17, 2014.

Central Florida appears to be an island of increasing foreclosure activity in the middle of a state where the business of repossessing houses has declined during the past year, a study released today shows.

In Metropolitan Orlando, foreclosure legal filings increased 20 percent in June from a year ago and the region ranked second nationally for its foreclosure rate in June, according to real estate research firm RealtyTrac (www.realtytrac.com). Metro Orlando houses received 2,663 notices in June. And the amount of activity also increased for nearby Volusia and Polk counties last month from a year earlier.

In contrast, Florida's foreclosure actions actually dropped 13 percent during that time. In addition, the Tampa, Miami and Jacksonville metro areas all experienced foreclosure declines during the last year. Nationally, filings were down 16 percent from June 2013.

Orlando's deeper dive into foreclosure during the last year may reflect lenders' increasing impatience with holding onto the properties. They may be less interested in sitting on vacant residential asset pools at a time when homes are no longer increasing in value as much as they did in the past, said Daren Blomquist, vice president of RealtyTrac.

"It's a reflection that even while the foreclosure starts are down — meaning fewer homeowners are going into foreclosure — more people who have been in foreclosure are now going to the auction block and losing their homes," Blomquist said. "Certainly the slower home-price appreciation means that banks have less to gain by holding onto foreclosures for a longer period of time."

How much have home values been rising in the four-county Orlando region, which includes Orange, Lake, Seminole and Osceola counties? RealtyTrac reported year-over-year appreciation of 13 percent for Orlando residential properties in June from a year earlier, which was far less significant than year-over-year price gains as high as 23 percent during points in 2013.

Even if the banks are more motivated to dispose of their distress properties now that prices have softened somewhat, it does appear they are still taking substantial losses on Orlando-area foreclosures. Blomquist said lenders are taking an average loss of about $100,000 on Metro Orlando houses they are auctioning off.

One thing that is certain for Orlando is that its mounting volume of foreclosures does not indicate that homebuyers who purchased in recent years are the ones getting into trouble now.

RealtyTrac analyzed the recent foreclosures in the metro area and found that 60 percent of houses that received a notice during June were saddled with mortgages originated in the boom years of 2005, 2006 and 2007. Of the Orlando-area properties that got foreclosure notices in June, only 6 percent had been financed with mortgages approved during the past three years.

In June, Florida once again led the nation in foreclosure rates, with one legal notice for every 409 homes. Even though foreclosures appear to be dissipating throughout the state, eight of the nation's top 10 foreclosure markets for June were in the Sunshine State.

And in the Orlando area, one house got a foreclosure-related notice for every 353 homes in the region.

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Just Listed! 525 Sand Wedge Loop Apopka, FL 32712

July 7th, 2014 9:51 AM by Joe Bornstein

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$304,900.00
525 Sand Wedge Loop

Apopka, FL 32712



Beds: 5 Rooms: 11
Full Baths: 4 Sq. Ft.: 3108
Garage: 3 Built: 2002
 

GORGEOUS 5-BED,3-BATH,POOL HOME IN ROCK SPRINGS RIDGE WITH OVER $88,000.00 IN UPGRADES & IMPROVEMENTS. Not an REO or Short Sale, available for quick move-in. 24-hour response to all offers.
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Joe Bornstein
Rock Springs Realty, LLC
8773332811
www.rockspringsrealty.net



 
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Just Listed! 6001 Powder Post Drive Orlando, FL 32810

July 5th, 2014 12:07 PM by Joe Bornstein

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$159,900.00
6001 Powder Post Drive

Orlando, FL 32810



Beds: 4 Rooms: 11
Full Baths: 2 Sq. Ft.: 1723
Garage: 2 Built: 1996
 

MOVE-IN READY 4-BED, 2-BATH HOME W/HUGE YARD IN ORLANDO. This split plan, one-owner home has been very well maintained and is not an REO or short sale.
This is a new listing that
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Joe Bornstein
Rock Springs Realty, LLC
8773332811
www.rockspringsrealty.net



 
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Just Listed! 750 Gulf Land Drive Apopka, FL 32712

June 5th, 2014 4:34 PM by Joe Bornstein

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$324,900.00
750 Gulf Land Drive

Apopka, FL 32712



Beds: 5 Rooms: 14
Full Baths: 3 Sq. Ft.: 3082
Garage: 3 Built: 2005
 

GORGEOUS 5-BED, 3-BATH ?GOLF FRONT? HOME IN ROCK SPRINGS RIDGE WITH OVER $76,000 OF UPGRADES & IMPROVEMENTS. One of the ?only? Golf Course frontage homes available in the neighborhood. Not an REO or Short Sale and available for a quick closing.
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Joe Bornstein
Rock Springs Realty, LLC
8773332811
www.rockspringsrealty.net



 
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Just Listed! 19 E. Lester Road Apopka, FL 32712

May 30th, 2014 3:26 PM by Joe Bornstein

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$99,900.00
19 E. Lester Road

Apopka, FL 32712



Beds: 3 Rooms: 7
Full Baths: 1 Sq. Ft.: 924
Garage: 0 Built: 1964
 

MOVE-IN READY 3-BED, 1-BATH HOME ON LARGE PRIVATE LOT IN APOPKA. Not an REO OR Short Sale and available for quick move-in.
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Joe Bornstein
Rock Springs Realty, LLC
8773332811
www.rockspringsrealty.net



 
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Just Listed! 1569 Rosedowne Way Apopka, FL 32703

May 25th, 2014 10:01 AM by Joe Bornstein

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$174,900.00
1569 Rosedowne Way

Apopka, FL 32703



Beds: 3 Rooms: 8
Full Baths: 2 Sq. Ft.: 1564
Garage: 2 Built: 2011
 

MOVE-IN READY 3-BED, 2-FULL BATH "PARK FRONT" HOME IN LAKE PLEASANT COVE. This one-owner home has been well-maintained and will impress the pickiest Buyer. Not an REO or short sale & available for quick move-in.
This is a new listing that
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Joe Bornstein
Rock Springs Realty, LLC
8773332811
www.rockspringsrealty.net



 
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May 13th, 2014  |  by Cassandra Dowell 

The Federal Housing Administration, FHA (www.hud.gov) announced today a new pilot program that will allow the average homebuyer to qualify for savings of about $325 a year – or almost $9,800 over the life of an average loan by completing mandatory HUD-approved housing counseling.

The FHA’s “Blueprint for Access” pilot program, announced Tuesday, outlines the steps the FHA will take over the next few months to expand access to credit for underserved borrowers.

The new program will also further incorporate housing counseling into the home buying process for borrowers using FHA-insured financing through the Homeowners Armed with Knowledge (HAWK) pilot program, to be launched in fall of this year. HUD will publish a notice in the Federal Register for the HAWK program this week.

Under the four-year HAWK for New Homebuyers pilot program notice, homebuyers who commit to housing counseling will qualify for savings on their FHA-insured loans. FHA proposes that homeowners who complete housing counseling before signing a contract to purchase a home and who complete additional pre-closing housing counseling will receive a 50 basis point reduction in the upfront FHA mortgage insurance premium (MIP) and a 10 basis point reduction in the annual FHA MIP.

After two years with no serious delinquencies, participants receive an additional 15 basis point reduction in annual MIP. The combined savings will amount to nearly $10,000 over the course of the loan, FHA projects.

Research shows a strong correlation between housing counseling and mortgage performance, according to program documents.

Delinquency rates for borrowers who have received counseling are 29% lower for first-time homebuyers and 15% lower overall, the data shows. 

The program is expected to have a positive impact on the overall market, said Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development.

“We want to create an environment that encourages responsible behavior and provides clear rules of the road so lenders can originate loans without fear of unanticipated consequences,” Donovan said in a news release. “We want lenders to be able focus on the quality of their processes and lend to all qualified borrowers.”

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Just Listed! 214 Ashbourne Court Melbourne, FL 32940

April 17th, 2014 5:21 PM by Joe Bornstein

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$323,900.00
214 Ashbourne Court

Melbourne, FL 32940



Beds: 4 Rooms: 9
Full Baths: 2 Sq. Ft.: 2173
Garage: 2 Built: 1995
 

GORGEOUS 4-BED, 2-BATH CONTEMPORARY HOME ON CONSERVATION LOT IN GATED BAYTREE GOLF COMMUNITY. This split plan home has been totally updated & available for immediate occupancy.
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Joe Bornstein
Rock Springs Realty, LLC
8773332811
www.rockspringsrealty.net



 
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Just Listed! 2796 Ponkan Summit Drive Apopka, FL 32712

April 8th, 2014 9:48 PM by Joe Bornstein

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$324,900.00
2796 Ponkan Summit Drive

Apopka, FL 32712



Beds: 4 Rooms: 9
Full Baths: 3 Sq. Ft.: 2846
Garage: 3 Built: 2006
 

GORGEOUS 4-BED, 3-BATH + PRIVATE STUDY W/OVER $65,000.00 OF UPGRADES IN GATED WEKIVA RUN. This one-owner, triple-split Calabria II model was custom built & has incredible features & finishes.
This is a new listing that
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listing online to see more
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If you have any questions
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Joe Bornstein
Rock Springs Realty, LLC
8773332811
www.rockspringsrealty.net



 
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