Buyer Tips | Florida Team Realty

FHA Loan Limits Reinstated

On December 9, 2011, in Buyer Tips, Seller Tips, by Marc Vitorillo

Congress has reinstated the loan limit formula and maximum cap for Federal Housing Administration-insured loans through 2013. Those loan limits previously expired September 30. The new provision allows loan limits to go back to 125 percent of local area median home prices up to a maximum of $729,750 in the highest cost markets through 2013. [...]

Second Homes Hold Steady

On June 10, 2011, in Buyer Tips, Florida Real Estate, by Marc Vitorillo

Data from the recently released 2011 NAR Investment and Vacation Home Survey shows vacation-home sales accounted for 10 percent of all transactions last year and investment sales were 17 percent of the overall market. Those figures are unchanged from the 2010 survey. The median vacation-home price was $150,000 in 2010, while the median investment- home [...]

How Restructuring Fannie and Freddie Affects Florida

On March 31, 2011, in Buyer Tips, Florida Real Estate, by Marc Vitorillo

The Obama administration recently called for an orderly transition from the current form of the Fannie Mae and Freddie Mac secondary mortgage market to a new structure that would allow home buyers continued access to affordable, sustainable mortgages. Without functioning mortgage markets, people cannot buy or sell homes. To ensure a smooth transition, it’s important [...]

First Time Homebuyers Getting the Cold Shoulder

On March 29, 2011, in Buyer Tips, Florida Real Estate, by Marc Vitorillo

Many first-time homebuyers are sitting on the sidelines of the U.S. housing market, hampering its ability to gain traction. Last month, 34 percent of existing-home purchases were made by first-time buyers, according to the National Association of Realtors. In January, they were 29 percent of the market, the lowest since NAR surveys started tracking them [...]

Florida’s Existing Home, Condo Sales Up in January 2011

On March 6, 2011, in Buyer Tips, Florida Real Estate, Florida Real Estate Blog, Seller Tips, by Marc Vitorillo

Florida’s existing home and existing condo sales rose in January, according to the latest housing data released by Florida Realtors®. Existing home sales increased 14 percent last month with a total of 12,151 homes sold statewide compared to 10,702 homes sold in January 2010, according to Florida Realtors. January’s statewide sales of existing condos rose [...]

Florida Real Estate, Existing Home and Condo Sales Up in December 2010

On January 31, 2011, in Buyer Tips, Florida Real Estate, Seller Tips, by Marc Vitorillo

The statistics are now available for Florida Real Estate in December 2010. Sales of existing homes and condominiums in Florida rose in December, a positive trend also reported at the close of 2010 as statewide sales activity posted gains over the previous year, according to the latest housing data released by Florida Realtors®. A total [...]

Tampa and Orlando, Better to Buy Than Rent in 2011

On January 7, 2011, in Buyer Tips, Florida Real Estate Blog, by Marc Vitorillo

I get asked many times from potential buyers, especially from college students and single professionals, if they are better off renting than buying. The answer is…it depends. Depends on how long they will stay in the property, their financial situation, job security, cash flow, etc. But all else equal, we can then look at local [...]

Attainable Financial Goals in the First Sixty Days of the New Year

On January 1, 2011, in Buyer Tips, Florida Real Estate Blog, Seller Tips, by Marc Vitorillo

New Year’s Day is the traditional time for setting resolutions. But make them too lofty or unreasonable and by Valentine’s Day, you will wonder what went wrong. Here are some simple and attainable ways for you to get financial goals in line in the first sixty days of the New Year: On January 1, when [...]

Top 5 Tips for Buying a Newly Built Florida Home

On November 17, 2010, in Buyer Tips, Florida Real Estate Blog, by Marc Vitorillo

Newly built homes, often in recently developed communities, are regaining popularity and are more affordable than in years past. New homebuilders are using desirable, open floor plans and are helping buyers get into new homes despite the nationwide credit crunch. As with any major transaction, it’s critical that the buyer enter the home purchase fully [...]

How to Prepare Your Home for Fire Safety

On October 8, 2010, in Buyer Tips, Florida Real Estate Blog, Seller Tips, by Marc Vitorillo

Many people think a fire won’t happen to them. But what happens if it does? And what if there are children in the home? Will they know how to react to the sound of a smoke alarm? October 3-9 is National Fire Prevention Week and what better time for parents to prepare their home and [...]