There were 1,279 Alachua County and Gainesville FL foreclosure homes in January, 2012 according to RealtyTrac.com. The average foreclosure sales price was $102,999 compared to an average sales price of $121,327, a $18,328 savings. 1 in every 636 housing units received a foreclosure filing in January.
Alachua County & Gainesville FL Foreclosure Foreclosure Activity and 30 Year Interest Rate
Gainesville interest rates averaged 3.92% in January while the number of foreclosed homes increased from 155 in December to 186 in January.
Alachua County foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.
Alachua County & Gainesville FL Foreclosure Geographical Comparison
The number of Alachua County and Gainesville FL foreclosures were equal to national statistics and 0.12% below state figures in January.
Alachua County & Gainesville FL Foreclosure Activity by Month
The number of Bank-owned properties decreased from 68 in December to 25 in January. The number of Auctions rose from 34 to 42 while Pre-foreclosure activity climbed from 83 to 118. There is a 6 month rising trend.
Are you or someone you know behind on your mortgage payments and facing a Gainesville FL foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE). Give me a call for a private consultation. (more…)
2012 is off to an encouraging start. Mortgage rates have remained under 4% for nearly two months. Home sales are strengthening and pending home sales, a measure to gauge future sales, are at their highest levels since March 2010.
Job growth increased during most of 2011, with unemployment dropping to 8.4%. As more people are getting jobs, consumer confidence has also been increasing. However, underemployment with a rate of 18.1% continues to be a problem for a stronger recovery. There are still a significant number of people working part time, who would like to have full-time work.
Even with substantial national improvements, the recovery is spotty. Payroll jobs were up in 25 states, but down in 24, demonstrating the delicate state of the U.S. economy. Global factors such as the European debt crisis are also complicating a more robust recovery.
What does the recovery look like in our local real estate market? Take a look at January figures.
The Gainesville FL area single family home sales saw pending sales decrease by 7% when compared with January 2011 numbers. Sold listings decreased by 3%, and new listings decrease by 12%. The average sales price decreased by 1% to $161,634, while market times decreased by 13 days or 7%.
Gainseville Area Single Family
New Listings
Pending Sales
Sold Listings
Avg. Sales Price
Days on Market
January 2012
343
182
105
$161,634
177
January 2011
391
195
108
$162,198
190
The Gainesville FL area Condo/Townhome market saw pending sales increase by 13% in January 2012 when compared to January 2011. Sold listings decreased by 4%, and new listings decreased by 16%. The average sales price increased by 28% to $96,043 when compared to January 2011, while the average market times remained the same as January 2011.
Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.
She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.
For more information about buying or selling your Gainesville FL home, please call Linda toll free at 888-424-8841 or via email with our convenient contact form.
On February 29th we experience an extra day in our calendar, an event that occurs in a Leap Year. This “once-every-four-years” term describes a year containing one additional day in order to keep the calendar year synchronized with the astronomical or seasonal year. Because seasons and astronomical events do not repeat in a whole number of days, a calendar that had the same number of days in each year would, over time, drift with respect to the event it was supposed to track. By occasionally inserting an additional day into the year, the drift can be corrected. A year that is not a leap year is common year. So now you know…and are you ready to leap into spring at your Gainesville FL home. How? Read on for some suggestions….
Indoor Gardening:
Bulbs. Pre-planted bulb pots are available in the grocery stores now. Pick up a few pots and brighten up your Gainesville FL home. Or, if you are ambitious, carefully dig up and pot the bulbs that are just emerging in your yard. Be sure to leave a good amount of soil around them when you dig them up. Keep the pots cool, slightly moist, and out of direct sunlight to enjoy the longest flower show.
Houseplants. Treat them to a shower in your sink and re-pot ones that are in need!
How about adding some new scented houseplants to the collection in your Gainesville FL home? Hoya is an old-fashioned plant that’s making a comeback and doesn’t need a lot of sun. If you have a nice sunny spot, Sweet Bay, CubanOregano,Eucalyptus and Scented Geraniums are all great choices.
Outdoor Gardening:
Deadhead camellia blossoms and pick up fallen blossoms to prevent disease.
Prune roses and deciduous fruit trees. Spray them with horticultural oil to prevent insect problems in the future.
Prune evergreens and liriope and continue doing so through April.
Do NOT prune spring blooming (flowering) plants! Wait until after bloom is over.
Tools: Clean and fix them now! Sharpen lawnmower blades, change the oil, and clean or replace the filter. Clean pruner blades with rubbing alcohol. Oil hinges. (more…)
If you’re thinking of selling your house in the near future, you need to know that updated bathrooms are one feature greatly desired—or sometimes demanded–by potential buyers. Renovated bathrooms are extremely popular in today’s market, but they can also become an expensive undertaking. However, depending on your willingness to take an active role in the updating process, you can make the bathroom a major plus when selling your Gainesville FL home–without breaking the bank. Take advantage of free or inexpensive classes or seminars given by home improvement stores—far-reaching in topics and easy to follow in technique—or search the web for instructional videos, such as this one from YouTube about applying grout.
Before you even begin your physical efforts, you should explore popular new trends in bathroom function, among which are wall-mounted toilets, recessed tubs, offbeat sinks, heated towel racks, and the use of stone. A tour of model homes in your area will give you a good idea of what’s “hot” and what you might like to include in your own bathroom. Websites such as Better Homes and Gardens and EHOW can provide inspiration, design assistance, and decorating ideas which are both clever and inexpensive, and free design software allows you to plan an entire layout and create an online model for the renovated bathroom of your Gainesville FL home. Worried that you may be spending too much money on your project? Get a cost estimate of your anticipated improvements.
If you aren’t up for a large-scale remodel or even an extensive renovation, there are many simple–and inexpensive– steps you can take to upgrade the function and appearance of your bathroom. Consider doing the following:
Repaint in neutral colors. If all walls are tiled, paint the ceiling.
Replace the sink if it’s an outdated color and change the faucet to a more modern one.
Install a new medicine cabinet, light fixture, and/or mirror.
Re-glaze the tub in your Gainesville FL home and replace caulking as needed.
Deep scrub or reapply grout.
Change window treatments. Think about bamboo blinds rather than curtains.
Use “earthy” and green materials for a more natural look.
Purchase a new shower curtain.
Paint old cabinets. White is quite popular right now.
Add shelving for storage.
Hang an unusual piece of art.
Display attractive towels and throw rugs.
Remember to feature simple accessories such as a waste can, hooks, a soap dish, a toothbrush holder, towel racks, and eye-catching containers. (more…)
Support musicians in the Gainesville area this Sunday at 2pm at Sunday at the Pops! The Gainesville Community Band will feature Bill Price as he plays arrangements from the Big Band era. Some of the other guest artist performing will be William Dishman on the trumpet, Charles Popper on the trombone and Rachel Matz on the tuba. Spend your Sunday afternoon enjoying music from the past at the Santa Fe College Fine Arts Hall Auditorium.
Gainesville is home too many talented musicians, come out and see some February 19th. This is a fun event for everyone in your family.
Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.
She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.
When you buy Gainesville FL real estatewithout a down payment of at least 20%, the lender, be it FHA or a private mortgagor, requires that youpurchase mortgage insurance to protect it against financial loss. Mortgage insurance, not to be confused with mortgage life insurance or homeowner’s insurance, assures the lender of no financial loss or a very reduced one) if you default on the loan.
The cost of this insurance—from .25 to 6% of the loan—is almost always the responsibility of the buyer of Gainesville FL real estate. (There is such a thing as lender-paid insurance, but this type carries a higher interest rate and is non-refundable.) Usually the borrower has a choice of payment plans, which included the following:
Annuals. The borrower pays the first-year premium at closing; an annual renewal premium is collected monthly as part of the total monthly house payment.
Monthly Premiums. The cost is slightly more than traditional mortgage insurance plans but monthly premiums dramatically reduce mortgage insurance closing costs. Borrowers pay for mortgage insurance monthly as part of their total monthly house payment but need to pay only one month’s mortgage insurance premium at closing, rather than one year’s.
Singles. The borrower pays a one-time single premium (instead of an initial premium and renewal premiums). Since single premiums are typically financed as part of the mortgage loan amount, no out-of-pocket cash is used for mortgage insurance with a nonrefundable premium at closing.
These plans offer the choice of refundable or nonrefundable premiums. A refundable premium allows the borrower the opportunity to receive money back on any unused portion, in the event that mortgage insurance coverage is discontinued before the loan is paid in full. The cost for a nonrefundable premium is slightly less than that of a refundable premium, thereby giving the borrower a small savings. If coverage is discontinued on a loan with a nonrefundable premium, the borrower has no opportunity for a refund.
Unfortunately, rumors and myths abound about the difficulty or even impossibility of cancelling refundable mortgage insurance. Fortunately, however, the Homeowner’s Protection Act of 1998 requires lenders of insurance loans for Gainesville FL real estate to notify consumers of their rights in this regard on a yearly basis and to automatically cancel the insurance when the mortgage has amortized to 78% of the original property value. In addition, you may apply for cancellation of your mortgage insurance when that percentage reaches 80%. For specific details of the HPA requirement in terms of timing and content of these notices, click here. (more…)
In December of 2007, Congress signed into law the Mortgage Debt Relief Act to aid distressed homeowners. Under regular circumstances, when a lender chooses to forgive all or part of a borrower’s debt, that amount is considered income and the borrower is liable to be taxed on it. However, this law offers relief to the owner of Gainesville FL real estate in that debts discharged through calendar year 2012 are not taxable. Limited to primary residences only, the amount of forgiven mortgage debt allowed to be excluded from income tax is $2 million per year. Debts reduced through mortgage restructuring as well as mortgage debts forgiven in connection with foreclosure qualify for this relief.
On the fence about selling your underwater Gainesville FL real estate as a short sale? Consider this: if your home isn’t sold before January 1, 2013, and you owe $50,000 more than its market value, you could realistically end up paying more than $12,000 in taxes in 2013 if you’re in the 25% tax bracket! Once you decide on going the short sale or foreclosure route—and remember, short sales often take a long time to sell–the first thing you need to do is to request that your lender officially and in writing waive any deficiency connected with your Gainesville FL real estate. If this waiver is not granted, the lender has 20 years to obtain repayment from you via collection agencies, garnishments, and/or liens.
Because of the impending deadline and the length of time required for short sales and foreclosures, many real estate and financial gurus stress the importance of acting now to set wheels in motions. They urge distressed owners of Gainesville FL real estate to realize that there is no tax exclusion allowed on pending closings/foreclosures. Only transactions completed by December 31, 2012, are eligible for income tax relief—and there are no indications that the current deadline will be extended!
Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.
She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.
For more information about buying or selling your Gainesville FL home, please call Linda toll free at 888-424-8841 or via email with our convenient contact form.
There were 1,154 Alachua County and Gainesville FL foreclosure homes in December, 2011 according to RealtyTrac.com. The average foreclosure sales price was $92,111 compared to an average sales price of $139,836, a $47,725 savings. 1 in every 626 housing units received a foreclosure filing in December.
Alachua County & Gainesville FL Foreclosure Foreclosure Activity and 30 Year Interest Rate
Gainesville interest rates averaged 3.96% in December while the number of foreclosed homes dropped from 195 in November to 185 in December.
Alachua County foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.
Alachua County & Gainesville FL Foreclosure Geographical Comparison
The number of Alachua County and Gainesville FL foreclosures were equal to national statistics and 0.12% below state figures in December.
Alachua County & Gainesville FL Foreclosure Activity by Month
Given the lengthy and heated debate going on about the country’s debt, this may well be a good time to think about your personal debt philosophy and/or situation. While it’s almost impossible to live debt-free, it is important that we analyze and manage our loans; we all have seen in recent years the economic repercussions of taking on too much debt, both nationally and individually. Experts say that ideally your total monthly long-term debt payments should not exceed 36% of your gross monthly income, but the real challenge is to judge which debt makes sense and which does not. Economic advisors suggest that you first recognize that some of your obligations are considered good debts, whereas some might fall into the category of bad debts.
Good debts are those which can be looked at as investments and those which will contribute to your overall financial health. The best example of good debt has been for many years the purchase of a Gainesville FL home and is still considered as such by many. Another good debt would include a student loan to finance higher education. Financing a car is also perceived as good debt provided that you make as large a down payment as you can reasonably afford and that you intend to keep the vehicle as long as you are paying for it. Generally speaking, good debt includes the purchase of items which you could not afford without wiping out your cash reserves or liquidating your investments.
On the other hand, bad debt occurs when you borrow to purchase a consumable item without fully comprehending the influence of that purchase on your financial well-being. Excessive credit card use is an excellent example of bad debt, especially given the high interest rates charged. One obvious flaw in the credit card system is that it encourages users to purchase things they can’t really afford, a posh vacation or the addition of a pool for their Gainesville FL home e.g., without having to pay for them at the time. It goes without saying that payday loans and paying pawn shop interest are very poor—and costly—practices which should be avoided entirely.
How to manage your debt? You can begin by figuring out your credit utilization or your debt-to-credit ratio, which tells you how much you have borrowed of the total amount available to you. The lower the percentage, the better for your credit rating. Creating a plan to pay off your bad debts, especially those with high interest rates, is another important step in achieving financial stability. Many financial counselors urge borrowers to pay off credit cards and car loans before considering taking on student debt or a mortgage for a Gainesville FL home. Another strong caveat is not to pay off one loan with another, such as using a home equity loan to repay bad debt. The best practice is to use cash to pay off debt. One way to increase your available cash is to analyze your spending pattern and carefully monitor unnecessary expenses. Other suggestions for managing debt include taking steps to lower household bills, refinancing a mortgage for a lower interest rate, and requesting a reduced rate of interest from credit card companies. (more…)
Yes, it’s once again that time of year when we examine our life and vow to make positive changes by losing weight, becoming more active, quitting smoking or drinking, managing debt, etc. But did you know that numerous recent polls indicate that a full 50% of Gainesville FL real estateowners resolve to spend less time working and more time enjoying family and friends and that 87% say that the stress of trying to balance their work and life schedules is adversely affecting their health?
While we all need a certain amount of stress to spur us on and help us perform at our best, the key to managing stress lies in that one word: balance. Achieving a healthy work/life balance an attainable goal, but in order to do so you must make changes in your life. Following are a few tips to ensure success:
Leave your work at work: Use your commuting time to transition from work to home. Rather than think about problems at work, shift gears and concentrate on your family responsibilities or enjoyable activities which await you at your Gainesville FL real estate. You can also use commuting time to unwind by listening to music or a book.Change your clothes when you arrive home to strengthen the notion of being away from work. Resist the urge to check any and all electronicdevices for work related messages.
Inquire about flextime or telecommuting: It just may be that your boss will recognize that you can do your work at different times or from different places.
Learn to say “NO” on occasion: Be it for work or for home, you don’t always have to be the one to “step up to the plate” and volunteer for yet another responsibility.
Make time in your schedule for physical activity and fun: Every Gainesville FL real estate owner knows that keeping fit by exercising and eating healthy foods is a remedy for stress and/or depression, but too many of us don’t make a concentrated effort to write in our calendars—in ink—specific visits to the gym. Consider, too, the benefits of taking up a new hobby, such as cooking, scrapbooking, or archery, that you can enjoy individually or with family or friends. (more…)
The number of Bank-owned properties decreased from 68 in December to 25 in January. The number of Auctions rose from 34 to 42 while Pre-foreclosure activity climbed from 83 to 118. There is a 6 month rising trend.
