Jeff Taulbee P.A.

Some experts predict that down the road lenders will exercise greater leniency when it comes to borrows who defaulted on their mortgage. The most important factor for lenders will be in determining whether or not the borrower can meet his or her financial obligation the second time around. Avoiding a foreclosure is still the preferred course of action but at least it may appear that there could be a small light at the end of the tunnel for a second chance at home ownership.

Have a great week!

- Jeff

The end of the foreclosure crisis is finally in sight. For the first time in almost three years, the number of homeowners falling behind on their loans is declining. The drop means the number of people losing their homes will start to fall. But some pain from the crisis is sure to persist. Because millions of people are already in foreclosure, deeply discounted houses will put pressure on home prices for years.

Have a great week!

- Jeff

Let's begin with the bad news. Mortgage rates increased slightly to just over 5% this past week. The average rate on a 30yr fixed was 5.01%. The Federal Reserve would like to keep rates around the 5% mark to continue to make home buying affordable. It is important to remember that rates will differ depending on the type of loan you obtain.

Now the good news! Recent statistics indicate that Florida property taxes have declined 7.5% over the past three years because of tax-cutting measures approved by the Legislature and voters as well as falling real estate values.

Have a great week!

- Jeff

Home sales in Florida rose 33% last month compared to the month prior while condo sales experienced a 91% increase in sales when compared to the previous year. In addition, the number of homes for sale in Central Florida decreased so if you are considering selling your home this means less competition!

- Jeff