Homes in Tradition Port St Lucie

Enjoy a home in one of the best kept secrets in Port St Lucie, the Traditions.

There are several nice subdivisions to choose from including Bedford Park, Heritage Oaks, The Lakes, Town Park, Promenade, The Estates and Seasons.

Call Sharon Kelly today at 1 800 778-8335 for more details about Traditions Homes in Port Saint Lucie.

Local real estate market on a ‘comeback’ says ECAR - Port St Lucie Homes Best Buy

Port st lucie housing market is prime for buyers

Local homes in st lucie county are prime for the investor as homes for sale are well below the average price. Here is an article that I would like to share with you about Florida’s Real Estate market and the comeback that is happening.

The Florida existing housing market made some sizeable leaps during the final month of 2009. According to tatistics released by Florida Realtors, December sales of existing single-family homes jumped 33 percent and condos, a whopping 91 percent.

“The market is on a comeback,” said Emerald Coast Association of Realtors (ECAR) President Mary Ann Windes. “That’s why ECAR’s theme for 2010 is ‘The future’s so bright, we gotta wear shades!’”

Locally, sales of existing single-family homes along the Emerald Coast were up 22 percent. Panama City also saw their numbers rise, albeit modestly at 2 percent, and Pensacola reported a small decline, dipping 2 points.

While most of the markets in Florida saw a decrease in the median sales price including Panama City and Pensacola at 9 and 8 percent, the Emerald Coast was one of only a handful to report an increase, up by 10 percent.

“We’ve been creeping along the bottom of the market for awhile now and we’re seeing a little upward movement in price. Even though we won’t know for sure until we’re well past it, we believe prices hit the bottom in 2009,” said Windes, broker-owner of Real Estate Professionals of Destin Inc.

“It’s too early to say that they’re rising,” she continued, “but I can tell you from personal experience that prices are getting competitive again.”

Condos remained a hot commodity in the chilly month of December, with sales of existing units soaring 91 percent, as compared to the previous year. The Emerald Coast bettered the state’s average, rising 135 points.  Panama City and Pensacola also saw gains, each rising 42 and 70 percent respectively.

Although the median sales price dipped in nearly all Florida markets, gains were reported in three areas, including Pensacola, up 28 percent. While the Emerald Coast and Panama City Beach reported decreases in median sales prices of 8 and 10 percent, both areas skirted under the state’s average drop of 18 percent.

“With the number of buyers increasing in the market, sellers don’t have to reduce their prices to compete, and this seems to be stabilizing prices,” Windes said.

She also noted that short sales and foreclosures appear to be attracting buyers to the market, and this trend probably won’t disappear anytime soon.

“Short sales and foreclosures are a reality of the market and will be for quite some time,” Windes affirmed. “The market continues to adjust to current conditions, as it always does.”

Windes observed that federal tax incentives continue to draw buyers to the market now that the deadline for the first time homebuyers’ $8,000 tax credit, originally implemented in 2009, has been extended to include buyers who sign sales contracts between Nov. 7, 2009 and April 30, 2010, providing they haven’t owned a primary residence in the past three years.

Additionally, a relatively new tax credit allows qualifying repeat buyers to reap up to a $6,500 tax credit, if the home being sold or vacated was used as a primary residence for at least five consecutive years of the past eight.

With all the programs, incentives and other factors affecting the market, it’s particularly important to Rely on a Realtor, said Windes. “Realtors are bound by a higher code of ethics and are required to disclose materially known defects,” she said, listing just a few of the advantages Realtors bring to a transaction. “And Realtors know who’s who among lenders, property and pest inspectors, surveyors, appraisers and closing agents.”

This article was contributed to The Log by the EmeraldCoastRealtors.com

Government owned homes (HUD foreclosures) provide exceptional value in today’s economy

If the house you are interested in is a Housing and Urban Development (HUD) foreclosure, then it was last purchased with an Federal Housing Administration (FHA) mortgage. The Federal Government insured the loan, making the previous FHA loan possible. By insuring the loan the Federal Government agrees to repay the Lender for all money lost by the lender in case the property is foreclosed on. It’s a good deal for the Lender as their investment is 100% insured. The Federal Government protects itself by collecting on each transaction of a federally financed property a Mortgage Insurance Premium (MIP) at the time of purchase. The MIP is 2.25% of the mortgage amount and is helpful in several ways.

Because the MIP is charged, the FHA can allow a purchaser to reduce their initial out of pocket cash expenditure from 5% to 3% of the purchase price, making it possible for many more Americans to buy homes. HUD reports in their mission statement that home ownership for the majority of Americans is their goal and that has proven to be the driving force behind their decisions and directives since their inception.

The MIP is pooled with all the other premiums and allows the Federal Government to continue helping homebuyers save money on their homes by keeping the costs down for homebuyers.

Benefits of buying an FHA Foreclosure

• No Appraisal required
• Instant equity
• Flexible Credit requirements
• Low money down.
• HUD will pay all closing costs. (Up to 5% in some states)

Hundreds of government owned homes for sale on the Treasure Coast mean a buyer can experience  significant savings and enjoy a selection from a wide variety of locations.

For more information on government homes on the Treasure Coast, call Sharon Kelly Realty, 1800-778-8335.

Home Looking for Some TLC - Only $70,000

NOT A SHORT SALE!  NEEDS SOME TLC. 2/2/1 in area of newer homes.  Close to new high school. Only $70,000.

Great Home for Only $99,900!

942 SW HALEYBERRY

Darling home with extravagant landscaping. backyard with above ground pool looks like paradise. great open plan with a big kitchen with panaramic window and great room overlooking back yard. back yard beautifully fenced in for your children, pets.