You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!
A Federal judge has lifted the eviction moratorium that was ordered by the CDC and was scheduled to expire on June 30,2021.
This judgement is consistent with the D.C. Circuit precedent.
Federal Judge Full Ruling To Lift Nationwide Eviction Notice
The Court stated the following in it's ruling:
"The Court recognizes that the COVID-19 pandemic is a serious public health crisis that has presented unprecedented challenges for public health officials and the nation as a whole. The pandemic has triggered difficult policy decisions that have had enormous real-world consequences. The nationwide eviction moratorium is one such decision.
It is the role of the political branches, and not the courts, to assess the merits of policy measures designed to combat the spread of disease, even during a global pandemic. The question for the Court is a narrow one: Does the Public Health Service Act grant the CDC the legal authority to impose a nationwide eviction moratorium? It does not. Because the plain Case 1:20-cv-03377-DLF Document 54 Filed 05/05/21 Page 19 of 2020 language of the Public Health Service Act, 42 U.S.C. § 264(a), unambiguously forecloses the nationwide eviction moratorium, the Court must set aside the CDC Order, consistent with the Administrative Procedure Act, see 5 U.S.C. § 706(2)(C), and D.C. Circuit precedent, see National Mining Ass’n, 145 F.3d at 1409.
For the foregoing reasons, the plaintiffs’ motion for expedited summary judgment is granted and the Department’s motion for summary judgment and partial motion to dismiss are denied. A separate order consistent with this decision accompanies this memorandum opinion."
Barry Habib address the concerns of will the housing market crash and is there a wave of foreclosures coming?
Two years ago to the day, @Barry Habib absolutely nailed his housing market predictions. There's a reason why he's received the Crystal Ball Award from Zillow multiple years in a row. 🔮✨ This is interview is pure gold 💰💰💰!!! Be sure to watch to the end for the playbook to help alleviate your clients fears in today's fast-moving housing market!
2:00 - All of Barry's past predictions that came true!
4:15 - What to expect on rates in the short & long term!
💰 6:00 - It's time to get off the fence & here's why!
👌 6:45 - "Don't be psychologically married to a rate under 3%"! 🧮
7:00 - What may happen in the fall of 2021 that will bring rates back down.
8:45 - The economic spur - drought effect in real time.
🔔 9:10 - 2022-2023: A possible recession.
😳 10:00 - Is there ANY HOPE for housing?
🙏 13:45 - Why did CNBC smash the industry for an entire day?
📺 15:30 - How agents & lenders can combat the news headlines?
🤩 17:30 - The real equation of purchase power & housing affordability.
😍 19:00 - If you're going to bid over asking, how to calculate when you'll make your money back and how long it will take.
19:40 - The harsh truth about forbearances.
22:30 - A simple way to communicate advice to your customer's fear.
🧾 25:30 - How a first-time homebuyer tax credit will get first-time homebuyers underwater instantly.
🥽 Be sure to follow MBS Highway ! 🔥Posted by TheREsource.tv on Monday, April 19, 2021
Orlando Housing Market Report | January 2021 Orlando Housing Market Closes out 2020 with Increased Median Home Prices and Lowest Inventory Seen in Years According to the report, Orlando’s annual median home price for 2020 ($265,000) was 9.1% higher than the 2019 annual median price ($243,000), thanks to another 12 months of year-over-year median price increases. While the median home price rose each month, inventory continued to decline and reached a low in December 2020, when it reached the lowest level since July 2005. Read more Orlando home sales completed during 2020 racked up a final tally of 36,871, which is 0.5% above the cumulative sales total of 36,707 for 2019. For historical comparison, annual sales in 2019 were 1.8% above the cumulative total sales for 2018; yearly sales in 2018 were 3.2% lower than in 2017. “The Orlando area was red-hot throughout 2020, as demand spiked and the number of houses on the market dropped throughout the year. We expect this pattern to continue in 2021,” said ORRA 2021 President Natalie Arrowsmith, NextHome Arrowsmith Realty. “Looking at the data, inventory has significantly decreased since the beginning of the year. In fact, December 2020 shows the lowest inventory we have seen in more than 15 years, which creates an extremely competitive market for buyers.” Editor’s Note: Additional 2020 cumulative statistics are included at the end of this release
The overall median price of Orlando homes (all types combined) sold in December is $275,000, which is 10.4% above the December 2019 median price of $249,000. The median price for single-family homes that changed hands in December increased 12.1% over December 2019 and is now $296,950. The median price for condos increased by 5.7% to $148,000.
Sales and Inventory
Members of ORRA participated in 3,672 sales of all home types combined in December, which is 21.1% more than the 3,033 sales in December 2019 and 51.6% more than the 2,422 sales in December 2018. Sales of single-family homes (2,890) in December 2020 increased by 20.1% compared to December 2019, while condo sales (401) increased 35.9% year over year. The overall inventory of homes that were available for purchase in December (4,875) represents a decrease of 30.6% when compared to December 2019 and a 12.7% decrease compared to last month. There were 42.6% fewer single-family homes and 12.1% more condos, year over year. Current inventory, combined with the current pace of sales, created a 1.3-month supply of homes in Orlando for December. There was a 2.3-month supply in December 2019 and a 3.3-month supply in December 2018, showing that inventory has significantly decreased. The average interest rate paid by Orlando homebuyers in December 2020 was 2.70%, which remains the same as the month prior. Homes that closed in December took an average of 45 days to move from listing to pending status. Pending sales in December 2020 are up 20.9% compared to December 2019 and are down 11.4% compared to last month. MSA Numbers Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in December were up by 17.5% when compared to December of 2019. Year to date, sales are down 2.8%. Each individual county’s sales comparisons are as follows: Lake: 26.8% above December 2019; Orange: 13.0% above December 2019; Osceola: 24.3% above December 2019; and Seminole: 16.2% above December 2019. 2020 Annual Market Recap (cumulative 2020 totals compared to cumulative 2019 totals)
The 2020 annual median home price for 2020 ($265,00) is 9.1% higher than the 2019 annual median price ($243,000) and 14.0% higher compared to 2018’s annual median price ($232,500). The annual median price of single-family homes increased by 9.6% to $285,000 in 2020, while the median price of condos increased by 7.4% to $145,000. Sales Sales in 2020 were up by 0.5% over 2019. A total of 36,871 homes were sold in 2020, compared to 36,707 the previous year. Sales of single-family homes increased by 2.3% over 2019. Condo sales were down 10.2% and townhomes were down 1.2%. By year’s end in 2020, 40,743 homes were sold in the Orlando MSA whereas 41,922 homes had been sold by year’s end in 2019, for a 2.8% decrease. Each individual county’s year-end sales comparisons are as follows: Lake: 0.5% below 2019; Orange: 5.6% below 2019; Osceola: 0.5% above 2019; Seminole: 1.6% below 2019.
This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.
SBA Economic Injury Disaster Loans ( EIDL) And Payroll Protection Program (PPP) Overview
00:17:52Vicky Kustov:Could we get a copy of this presentation?
00:25:19Hal Cone:are you recommending that you defer loan and mortgage payments, in my instance i am a solo agent, even if i have "enough" reserves in the bank to stay on track for a few months?
00:26:00Hal Cone:got it, thank you very much...
00:26:38Hal Cone:10-4 Todd, appreciate it
00:27:37Ward:Thanks for doing this Vicki & Demet! This is awesome!
00:28:02Kinsley Mickle:I love that idea
00:28:24TerryBickmore:What is the negative of waiting to contact mortgage companies? If I can cover things for say 10 months, should I wait until month 6 or 7 to reach out?
00:28:35demet:Ward your welcome - our pleasure
00:28:59demet:Terry - I will jump on that answer at the end of the presentation
00:30:50Matt Farnes:will deferring these loans have a negative affect when applying for new loans or stimulus
00:31:54CRAIG SCHNEIDER:CAN YOU ADD MORE ABOUT THE PHASE 3 WITH BANKS BEING READY…. I CONTACTED A FEW BANKS THIS MORNING ABOUT PPP AND NONE OF THEM ARE READY YET, IS THAT WHAT YOUR SEEING ACROSS THE NATION?
00:32:17Julie Ohmann:deferring mortgage- ask about how this would also impact your escrow for the states have home insurance and county/school taxes.
00:35:08mariadicarlo:will deferring pmts hurt me if I want to refi in the future?
00:35:27CRAIG SCHNEIDER:AND I SPELLED YOU’RE WRONG
00:35:46demet:craig - we all mis-spel :)
00:38:08Regina Drury:Having your 2019 tax return done is a big help with getting the information you need fast.
00:38:41Vicky Kustov:DO we need to have our 2019 tax return done to qualify?
00:39:07Jeffrey Lyons:Ditto. I have same question as Vicky.
00:40:34Al Lewis:How do those of that are s-corp and pay ourselves a salary fit into this? Loan? Foregiveness?
00:40:37Barrett England:Regarding PPP, so this might come up when we get to that section. If you run your income thru an s-corp with a salary and distribution to you, can you include the distribution in the salary calculation?
00:43:00Vicky Kustov:I am probably jumping ahead but are there loan programs for individual agents?
00:43:04bob:For PPP, when considering average monthly payroll, are they looking at the past 12 months, or 2019 only?
00:46:49Todd Tramonte:Keep questions coming, but we will get to PPP and other things as the presentation gets there.
00:48:21Jeremy:Is this where landlords would go to cover notes
00:48:49Hal Cone:great insight everyone...highly valuable to consider
00:49:00Ward:had no idea this was avaiable.
00:49:02gina:---I have already applied for it
00:49:23Jason Crawford:Qualifications? Income and expense? What are the submission requirements?
00:49:46Hal Cone:EIDL, was not sure about this, did you say this is your default recommendation for everyone now?
00:49:55Vicky Kustov:what expenses would this allow for individual agent?
00:51:46Jim:What can you use EIDL for as an independent contractor? MLS dues, advertising???
00:52:16Ward:Do you know what the interests rates are on the EIDL loan?
00:52:39Hal Cone:awesome, super information
00:53:14Regina Drury:I applied for PPP today and was told to apply for EIDL after affroval. This is what the lender said.
00:53:52Jeffrey Lyons:I am an independent RE Agent. I don't need a loan but I have monthly expenses. Can I apply for EIDL and just seek the $10K grant?
00:55:27James’s iPhone:Would commission splits be considered a cost of goods sold?
00:57:33Ward:Everyone I've reached out to is saying next week.
00:58:47bob:Is the average monthly payroll expense over the past 12 months, or just for 2019?
00:58:47Jeff Marek:What if you are a pass through LLC? Can I apply today for PPP?
00:58:49James’s iPhone:So will there be a different application process for the 1099 self employed independent contractors?
00:59:15CRAIG SCHNEIDER:DOES ANYONE KNOW WHAT DOCUMENTS THEY ARE USING FOR PROOF? IS IT YOUR PRIOR YEARS TAXES?
00:59:28gina:What if you were at 785K last year I am capped at 100K ?
01:00:03CRAIG SCHNEIDER:AND ASSUMING YOU HAVE NOT FILED WOULD THEY JUST LOOK AT YOUR BOOKS OR WOULD THEY USE 2018 TAXES?
01:01:20Jeremy:As a landlord "Loss Rents Due to Disaster" would I calculate that for 6 months? Haven't had any loss yet. but its coming
01:04:12Regina Drury:The money is excluded but people should know the expenses that it offset will probably be excluded from your write off too.
Seminole County residents should sort recyclables before placing curbside. Seminole County Solid Waste generally offers curbside sorting, but for the safety of collection crews, asks customers to self-sort.
Tissues and paper towels should be placed with regular household garbage.
Fibers should be sorted together. This includes:
• Pasteboard (i.e., cereal boxes, empty paper towel and toilet paper rolls, soda boxes, beer boxes, tissue boxes, gift boxes, pizza boxes and shoe boxes)
• Brown paper grocery bags (no wax, no wet strength material, no liners)
• Corrugated cardboard (flattened and cut down to fit inside the recycle bin)
• Newspaper, supplements, magazines and catalogs
• Box board, carrier stock, white and colored paper
• Telephone Books
Co-mingled containers should be sorted together. This includes:
• Plastic Containers #1-7 (#'s on bottom of containers) Remove all lids
• Glass bottles and jars (clear, green and brown) Remove all lids
• Aluminum cans
• Steel cans and tin household containers, such as food cans
This does not include residents in the City of Oviedo or Lake Mary; Oviedo and Lake Mary as they are single-stream.
Governor Ron DeSantis announced the activation of the Business Damage Assessment survey to assess the impact of COVID-19 on Florida’s local business operations. The survey, managed by the Florida Department of Economic Opportunity (DEO), will evaluate businesses affected by COVID-19 and the impacts the virus has had on the local economy so actions to implement appropriate relief programs can begin.
The Business Damage Assessment Survey can be taken online at https://floridadisaster.biz/. Results from this survey will be shared with state agencies and local partners. Surveys submitted by small businesses can be used to access the Small Business Administration’s Economic Injury Disaster Loan, made available for COVID-19 through the Coronavirus Preparedness and Response Supplemental Appropriations Act.
Once businesses complete the survey, they will be contacted with information upon availability of applicable assistance programs. To date, 147 Seminole County businesses have self-reported $39 million in estimated costs of damages, 940 temporary layoffs and 136 permanent layoffs. Most businesses reporting have requested Emergency Bridge Loans.
🍽 DCF WAIVING WORK REQUIREMENTS FOR SNAP PROGRAM
At the request of Governor DeSantis, and in accordance with the federal Families First Coronavirus Act, the Department of Children and Families (DCF) will waive work requirements for individuals participating in the Supplemental Nutrition Assistance Program (and Temporary Assistance for Needy Families) program.
DCF and the Department of Economic Opportunity have partnered to apply good cause statewide for TANF and SNAP recipients normally subject to participate in mandatory work requirements as a condition to receive program benefits effective immediately. The temporary relief of mandatory work requirements will alleviate any undue burden during this public health emergency on individuals normally required to participate in these programs with no disruptions to the receipt of cash and/or food assistance benefits.
To check the status of your benefits, report changes, receive information faster by opting in to receive electronic notifications, and upload documents 24 hours a day 7 days a week, log into your MyACCESS account here: https://www.myflorida.com/accessflorida/
If you have questions about your benefits and the temporary relief of work requirements during this time, please contact the Department of Children and Families customer center at 850 300 4DCF or visit the website at https://www.myflorida.com/accessflorida/
Seminole County Office of Emergency Management and Florida Department of Health-Seminole personnel are available daily from 8:00a.m.-5:00p.m. by phone to answer non-emergency questions related to COVID-19 at 407-665-0000. Today, this Citizens Information Line reached 1,000 calls.
In a statement released earlier today, Fannie Mae stated that they continue to be fully operational and will continue to provide liquidity to the market to minimize risk.
Full Statement Below:
This statement should help to answer questions many current buyers and homeowners had about the ability to close on the purchase of their home under contract or to refinance their current home in this favorable rate martket.
"Becoming a homeowner is an important responsibility and Freddie Mac is committed to providing the tools and resources to ensure a successful path toward sustainable homeownership," said Danny Gardner, Senior Vice President, Single-Family Affordable Lending and Access to Credit at Freddie Mac. "The goal of this exceptional program is to empower those who are pursuing the dream of homeownership with knowledge to make informed, responsible decisions."Highlights of Creditsmart Homebuyer U
Self-paced, online platform
Successful completion of this tutorial satisfies HomeOne or Home Possible mortgage education requirements. A printable certificate of completion is provide.
Hurricane Dorian looks to be a very strong and potentially devistating storm for the central Florida area. We have put this page together as a resource for our fellow residents, and hope you find it useful. Prepare and be safe.
To help off set the cost of school supplies Florida designates a tax holiday period. This year, from August 2nd thru August 6th, you can purchase all your back-to-school supplies without paying the state sales tax.
During the sales tax holiday period the following are exempt:
Clothing, footwear, and certain accessories selling for $60 or less per item
Certain schol supplies selling for $15 or less per item, and
Personal computers and certain computer-related accessories selling for $1000 or less per item, when purchased for noncommercial home or personal use.
This sales tax holiday does not apply to:
Any item of clothing selling for more than $60;
Any school supply item selling for more than $15;
Books that are other wise exempt
Repairs or alterations of any eligible items; or
Sales of any eligible itmes in a theme park, entertainment complex, public lodging establishment, or airport
Free event while you shop during the tax-free weekend. Enjoy games and fun activities for the kids. Special visitors include representatives from Orlando Magic, Orlando City, and animals from the Central Florida Zoo.