2018 Indian River County Sales Numbers

To see the full year end Real Estate numbers for Indian River County click the link below.  1st Qtr numbers coming in April

 

Sebastian-Vero_Beach_MSA_Single_Family_Homes_2018_Detail

Advertisements

Mortgages easier to get for the self-employed

WASHINGTON – March 19, 2019 – Self-employed and freelance or contract American workers have long struggled to qualify for a mortgage compared with those with W-2 forms or pay stubs that lenders can use to verify their incomes.

For the self-employed, the mortgage process can be time-consuming and cumbersome. Lenders often require extra paperwork, such as full documentation of tax returns from the last couple of years – not just the electronic copy submitted to the IRS. Even after that, the applicant may still lack an income steady enough to qualify or face extra fees once they are approved.

However, mortgage financing giants Freddie Mac and Fannie Mae have recently made changes to an automated system that could help more self-employed individuals qualify for a mortgage. The new technology automates underwriting for loan applicants who are self-employed or have side income.

“Applications that previously would have taken days to analyze and verify may now take just minutes, thanks to the use of optical character recognition technology that reads tax returns, identifies what qualifies as eligible income, and integrates it into both companies’ electronic underwriting systems,” reports Kenneth Harney, a syndicated real estate columnist for The Washington Post.

This frees lenders from having to comb through tax documents and allows them to find the information they need in minutes. The new system now takes three to five days to process, which slashes hundreds of dollars in costs and trims the risk for the lender, Andy Higginbotham, a Freddie Mac senior vice president, said.

There were about 15 million self-employed individuals in 2015 – which equates to about one of every 10 people in the workforce, according to the U.S. Bureau of Labor Statistics. Adding automation to the mortgage approval process could give potential homebuyers greater confidence as they shop for a home, says Josh Moffitt, president of Silverton Mortgage in Atlanta. It also could help with meeting contingency-clause financing deadlines in contracts.

Still, the programs are new, so not all lenders may offer this automated income verification to self-employed applicants yet. But housing experts say it may be valuable to self-employed individuals to find those that do.

Source: “If You’re Self-Employed or a ‘Gig’ Worker, Getting a Mortgage Just Got Easier,” The Washington Post (March 13, 2019)

© Copyright 2019 INFORMATION INC., Bethesda, MD (301) 215-4688

Market Absorption Rate for last 12 Months as of March 18

If you are trying to sell a house and it’s just sitting there you may need to find out what your Absorption Rate is.  The Absorption rate is the best way to tell when your house is going to sell.

For the last 12 months Indian River County has an Absorption Rate of 347.50  That means that 347.5 houses are being sold each month and with the current number of listing we have a 6.3 month supply of houses on the market as of today.

Absorption Rate for the Island is 62.50 yielding a 12.5 month supply of houses.

Absorption Rate for the Vero Beach Mainland is 183.42 resulting in a 5.6 month supply of houses.

Absorption Rate for Sebastian is 101.58 resulting in 3.6 month supply of houses.

These Absorption Rates take all price levels into consideration, but to get a true view you need to break down the sales prices.  To see the Absorption rates for various sales prices for the Island, Vero Beach Mainland and Sebastian click the link below.

absorption rate last 12 months

JUST WOW!!

Just received the stats for the Florida State Real Estate exam performance for Feb 1-28

Total Sales Associate exams taken for first time text takers were 2,252.
Total passing scores – 1,119
Total failing scores – 1,133

Pass/Fail is 50%!!

Total repeat test takers were 2,657
Total Passing scores – 792
Total failing scores – 1,865

That’s a 70% fail rate!!!

I have nothing to say

 

 

Moorings Condo!

moorings

 

WATCH THE BEAUTIFUL SUNSETS AND RIVER VIEWS FROM THIS PARTIALLY RENOVATED TWO BEDROOM 2 BATH CONDO. CUSTOM GRANITE COUNTERTOPS, WOOD FLOORS IN ENTRY AND KITCHEN, FULLY FURNISHED (TURN KEY) POOL, SPA, TENNIS COURTS, PRIVATE BEACH ACCESS, MARINA NEAR BY- LOCK BOX AND CALL AGENT 633-5459 FOR ACCESS – VACANT AND EASY TO SHOW.

Click here for details

 

Indian Oaks Listing!

Well maintained 3/2 pool home located in the subdivision of Indian Oaks, which is a well manicured small enclave of 36 homes with beautiful oaks and palms. Backs to a peaceful view of horses. New metal roof was installed in 2014. Come by and check out the tranquility of this beautiful area.  Call 772-633-6345 for showing.  click here for details

 

park

 

 

Woodlands Listing!

Beautifully maintained 3/2 in Great neighborhood of Woodlands, several upgrades and some renovations. Screened pool with solar panels to heat. Sprinkler system, Septic with newer drain field. Call 772-633-5459 for showing.

lisa

Click here for details

 

38,000+ New Sales Associates!!

For 2017 the State of Florida welcomed just over 38,000 new Real Estate Sales Associates and just over 2,500 Brokers.  No wonder it’s a fight to get a listing, but it could have been worse if the fail rate wasn’t over 50%!

Click link to see the amazing numbers

Real Estate Test Results

 

 

 

 

Mcansh Park Listing

Have you dreamt of living in Beautiful McAnsh Park? This home is your dream come true! Lovely move in ready home awaits its new owners. So many details…you just have to see it. Large lot has perfect backyard for a pool and the park is across the street. Sizes are approximate and subject to error. Owner is Frec Regmcansh

Click here to see details

No Title yet

Still no title.

Mike Lafferty - The Real Estate Guru

gator picJack opened one eye, then the other. The early morning sun was blinding, his head pounding from dehydration caused by the night before. As he squinted in pain a large shadow blocked out the sun. The shadow seemed to be getting closer, but Jack’s eyes couldn’t focus. All of a sudden a giant wet tongue licked his face. Jack jerked back swinging his arms at his attacker, hitting his head on something hard. Before Jack could fully grasp what was happening he heard a man’s voice call…

“Hugo! Get over here! Leave him alone!” and the giant black Great Dane grabbed his tennis ball and sprinted away splashing slobber as he ran.

Jack rubbed the back of his head as he stood up. Confused, he looked around studying his surroundings.   Jack was in the middle of Colonial Park, Savannah’s oldest cemetery. The Old Cemetery opened for business in 1750 and…

View original post 99 more words