Your choice for Clermont realty services has moved. We’d love for you to stop by, see our new “home,” and learn more about what we have to offer. Call us today, and start living the dream!

We offer full real estate services for:

• First time homebuyers
• Vacation or second homes
• Foreclosures and short sales
• Luxury homes
• Relocations

…and more!

Don’t just dream it, live it!

On March 26-27, 2011, more than 50,000 blue balloons featuring the Realtor® logo will be flying above mailboxes at open houses from the Panhandle to Key West. It’s all part of the second annual statewide open house weekend! From the east coast to the west coast, the signature blue balloons will showcase thousands of open houses in the Sunshine State. It’s a buyer’s dream!

The timing couldn’t be better for buyers. Interest rates are low. There’s a supply of homes at all price points. And the Florida Open House Weekend happens at the height of the spring home selling season. Take time now to prime move-up and first-time buyers to go to contract.

The 8-bedroom, 7.5 bathroom main house itself is 18,351 sf heated and is equipped with a sauna, steam room, exercise room, theater room, ballroom, wood panel office, wine cellar and bar,  and gourmet kitchen furnished with top-of-the-line appliances.

“We are excited to be listing this majestic gem set amidst the rolling hills of Central Florida and located directly on a pristine chain of lakes,” says Diane Travis, broker/owner of Travis Realty Group.  “This property can be enjoyed as a luxury estate, corporate retreat, development project or equestrian community. While its location is secluded, it is also convenient to city life, being only twenty-seven miles west of downtown Orlando and thirty-five miles from Disney.”

The mansion and guest house sit on 20 acres and are sold along with 140 acres which carry mixed-use approval for the $7.5 million listing price. Contact Patti-Jo Jungreis at (352) 874-8909 or Mary Kelly at (352) 874-2424.

For more information:
Patti-Jo Jungreis
(352) 874-8909

Mary Kelly
(352) 874-2424

Download the article “The Real Estate Runner” by clicking here!

1. Great prices. Statewide, home prices have fallen about 20 percent in the past year. Florida Association of Realtors® statistics show the existing-home median sales price was $185,400 in the third quarter of 2008, compared with $233,200 in third quarter 2007. By the way, those numbers are still significantly higher than in the early years of the decade. In 2003, the third-quarter sales price was $163,700, which reflects an increase of about 13.3 percent over the five-year period. (The median is a typical market price where half the homes sold for more, half for less.)

2. The time is right. Home sales volumes are rising again — a signal that the market recovery may be underway. In third quarter 2008, statewide sales of existing single-family homes were up 5 percent compared to the same period last year, according to FAR statistics.

3. High inventory levels. Conditions are ideal for buyers to find their dream home. Inventory is plentiful in all price ranges. But as sales volumes increase, inventory levels are likely to shrink. That reality translates into this advice for buyers: Don’t wait too long.

4. Low mortgage rates. Mortgage rates are still at the lowest levels since the 1960s. Lower rates multiply a buyer’s financial power. Even half a percent can make a sizeable difference. For example, on a $200,000 home, half of 1 percent could save the homeowner about $815 a year. Buyers can get more home for the money, which is a perfect scenario for families looking to upsize.

5. Incentives to buy. Federal, state and local housing programs can help buyers make that big purchase. The American Recovery and Reinvestment Act has increased the First-Time Homebuyer Tax Credit from $7,500 to $8,000 for purchases on or after Jan. 1, 2009, and before Dec. 1, 2009. Talk to a local mortgage lender about state and federal incentive programs.

6. A long-term-growth state. Long-term economic and demographic trends continue to favor Florida. By 2010, economists forecast that Florida will be the third-most-populated state in the country. Florida has been one of the 10-fastest-growing states in the U.S. for each of the past seven decades, and often the state has been in the top four, according to Census data. Population growth will continue to provide a foundation for other economic development, such as new jobs and growing incomes. All of these trends are positive indicators for real estate growth.

7. A migration magnet. Even with a slowdown in economic growth nationally, projections call for Florida’s population to return to more normal growth levels of about 317,000 a year between 2010 and 2020, similar to the 1980s and 1990s, said Stan Smith, director of the University of Florida’s Bureau of Economic and Business Research. That’s a lot of new buyers coming into the market.

8. A favored retirement destination. Over the long term, Florida stands to benefit from the migration of the aging Baby Boomer generation, roughly 80 million strong. Demographic studies show that the Sunshine State’s mild climate and outdoor amenities continue to make Florida a favorite retirement destination.

9. A diverse economy. Florida’s economy, like the rest of the nation, is impacted by the recession. Some business sectors, though, appear promising for the Florida economy. The healthcare and technology sectors are quickly becoming an important economic force in South and Central Florida. The Milken Institute/Greenstreet Real Estate Partners ranked five Florida communities on its “Best Performing Cities Index 2008,” which ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. Florida’s business climate ranked fourth among executives and sixth overall on Site Selection magazine’s 2008 Top State Business Climate rankings.

10. Investment outlook. Every quarter, the University of Florida’s Bergstrom Center for Real Estate Studies conducts a survey of industry executives, market research economists, real estate scholars and other experts. In the fourth quarter 2008 survey, the investment outlook for various types of Florida properties declined from the third quarter of 2008, although it is noted that the investment outlook remains higher than it was at times in 2006 and 2007. “We have 40 pages of comments from our respondents, and although the dominant theme is the disruption of financing, perhaps the second theme, as one person put it, is people being on the sidelines with full pads and helmets just waiting to jump back in,” says Director Dr. Wayne Archer, when referencing the 2008 third quarter results.

11. Homeownership has value. Realtors® believe — and research supports the belief — that homeownership provides a variety of tangible and intangible benefits to the community and homeowners. Studies show that home equity is still the largest single source of household wealth.

12. Greater sense of well-being. Owning a home leads to increased personal well-being. Research shows that people who own their own homes tend to show higher levels of personal self-esteem and life satisfaction, which in turn helps to make homeowners and their children more productive members of society.

13. Beneficial for kids. Studies show that children raised in homes owned by their families are more likely to stay in school and graduate high school. They’re also shown to have a higher lifetime annual income.

14. Community involvement. People who own homes have a strong financial stake in what happens to their community and tend to become more involved in community and civic affairs. Studies show that homeowners also interact more with their neighbors and communities. Compared to renters, homeowners join up to 41 percent more civic and/or nonprofessional organizations, such as the PTA or Scouts; vote in local elections 15 percent more often; enhance their neighborhoods with gardens 12 percent more often; attend church about 10 percent more often; and have a 3 percent greater chance of being interested in public affairs.

15. An unsurpassed lifestyle. Finally, let’s not forget the things that brought people to Florida in the first place, and will continue to attract them — beautiful beaches, fabulous weather and a friendly business climate, with no state income tax. It’s no wonder that Florida’s combination of temperate climate, outstanding recreational amenities and economic opportunity has consistently put the Sunshine State in the top three of Harris Poll’s “Most Desirable Places to Live” survey.

Of special ‘interest’ – Depending on the terms of your mortgage, your interest rate will be fixed for the entire length (usually 15 or 30 years), or variable, meaning it can adjust periodically in either direction.
- It is frequently possible to “buy down” the interest rate by paying points (one point is equal to one percent of the loan amount).
- Interest rates can be “locked in,” meaning the lender guarantees a given interest rate for a limited number of days (typically 30, 45 or 60). Borrowers usually opt to lock in a rate when they’re confident they won’t go much lower.
- Conversely, “floating” a rate allows buyers to lock in at some future time during the mortgage process — with the risk that rates may actually be higher when a decision finally has to be made.

Who has the money? Here are just a few of the places where homebuyers and investor can turn when trying to locate funds to purchase a foreclosure:

- Banks and savings institutions
- Mortgage brokers
- Personal investment funds
- Home equity lines of credit
- Credit cards
- Private investors

Types of loans
Conventional loans: any loan that is not backed by the government.
Government-backed loans: FHA-insured loans, VA-guaranteed loans, etc.

Loan Application Checklist
While applying for a mortgage can seem like a monumental task, being adequately prepared for the process goes a long way in saving time and money. Before you meet with whatever lender you ultimately choose, gather the following items to bring with you.

❑ Signed sales contract for property being purchased
❑ Copy of seller’s deed
❑ Plat and/or survey
❑ W-2 forms for previous two years
❑ Copy of your school transcripts or diploma if a full-time student in last two years
❑ Tax returns for last two years if self-employed, commissioned or using rental income to qualify
❑ Three most recent pay stubs
❑ Copy of last three statements on all asset accounts (bank, stocks, etc.)
❑ Copy of loan payment coupons
❑ Copy of charge statements, with balances and account number
❑ Year-to-date, signed profit & loss, if self-employed
❑ Copy of rental or lease agreements on all rental properties owned
❑ Copy of divorce or separation agreement in full when declaring income or debt from such agreement
❑ Names, addresses, account numbers for any mortgage company or landlord for previous two years
❑ Names and phone numbers of both listing and selling agent
❑ Copy of listing and/or contract on any present homes for sale
(Source: New Home Finder)

How much home can you afford? In 100 Questions Every First-Time Homebuyer Should Ask, nationally syndicated real estate columnist and author Ilyce R. Glink provides the following easy-to-use worksheet when determining how much of a monthly loan payment your income will support:

1. Gross Monthly Income (GMI) from all sources:

2. Multiply by:
.25 (25 percent), a conservative number
.28 (28 percent), the conventional amount
.33 (33 percent), allow you some debt payment
.36 (36 percent), if you have no debt
For the loan-to-income ration

3. Subtract your current monthly debts service:

Credit cards
Car loan(s)/leases
Charge accounts
School loans
Other personal debt

Total Debt Service
4. Subtract monthly or semi-monthly condominium or co-op
assessments, or homeowner association fees, if applicable

5. Maximum monthly mortgage payment

6. Subtract real estate property and tax monthly escrow

7. Net monthly mortgage payment

8. Multiply by 12 (months of the year)

9. Annual mortgage payment
10. Divide by the current interest rate

11. Total amount of mortgage

12. Plus cash you have available for the down payment
(save some for closing costs and two months’ reserve)

13. Approximate amount you can spend on a home.

What will your monthly payment be?
Based on a loan of $100,000 (which can easily be multiplied to reflect your particular purchase price) with a 30-year fixed rate, the monthly payments based on various interest rates follows:

Interest rate Monthly payment
4 percent $477.42
4.25 percent $491.94
4.5 percent $506.69
4.75 percent $521.65
5 percent $536.82
5.25 percent $552.20
5.5 percent $567.79
5.75 percent $583.57
6 percent $599.55
7 percent $665.30

Note: This payment does not include taxes (approximately 2 percent of the purchase price in our area), insurance (depending on location, you may be required to carry homeowner, wind and flood policies), HOA fees, and mortgage insurance for those who put down less than 20 percent.

If you can’t commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner – even in a rising market. When prices are falling, it’s an even worse proposition.

2. Start by shoring up your credit.

Since you most likely will need to get a mortgage to buy a house, you must make sure your credit history is as clean as possible. A few months before you start house hunting, get copies of your credit report. Make sure the facts are correct, and fix any problems you discover.

3. Aim for a home you can really afford.

The rule of thumb is that you can buy housing that runs about two-and-one-half times your annual salary. But you’ll do better to use one of many calculators available online to get a better handle on how your income, debts, and expenses affect what you can afford.

4. If you can’t put down the usual 20 percent, you may still qualify for a loan.

There are a variety of public and private lenders who, if you qualify, offer low-interest mortgages that require a down payment as small as 3 percent of the purchase price.

5. Buy in a district with good schools.

In most areas, this advice applies even if you don’t have school-age children. Reason: When it comes time to sell, you’ll learn that strong school districts are a top priority for many home buyers, thus helping to boost property values.

6. Get professional help.

Even though the Internet gives buyers unprecedented access to home listings, most new buyers (and many more experienced ones) are better off using a professional agent. Look for an exclusive buyer agent, if possible, who will have your interests at heart and can help you with strategies during the bidding process.

7. Choose carefully between points and rate.

When picking a mortgage, you usually have the option of paying additional points — a portion of the interest that you pay at closing — in exchange for a lower interest rate. If you stay in the house for a long time — say three to five years or more — it’s usually a better deal to take the points. The lower interest rate will save you more in the long run.

8. Before house hunting, get pre-approved.

Getting pre-approved will you save yourself the grief of looking at houses you can’t afford and put you in a better position to make a serious offer when you do find the right house. Not to be confused with pre-qualification, which is based on a cursory review of your finances, pre-approval from a lender is based on your actual income, debt and credit history.

9. Do your homework before bidding.

Your opening bid should be based on the sales trend of similar homes in the neighborhood. So before making it, consider sales of similar homes in the last three months. If homes have recently sold at 5 percent less than the asking price, you should make a bid that’s about eight to 10 percent lower than what the seller is asking.

10. Hire a home inspector.

Sure, your lender will require a home appraisal anyway. But that’s just the bank’s way of determining whether the house is worth the price you’ve agreed to pay. Separately, you should hire your own home inspector, preferably an engineer with experience in doing home surveys in the area where you are buying. His or her job will be to point out potential problems that could require costly repairs down the road.

Source: CNNMoney

1. Get rid of family photos and clear off your countertops. In other words, get organized.. and clean! That can mean anything from putting extra books in storage to getting rid of moldy caulk in bathrooms to renting furniture to fill up too-bare spaces. The goal is to organize your home, get it clean, and make it welcoming so potential buyers can see themselves living there.

2. Paint! A fresh coat of paint does wonders, and make sure your front door looks welcoming. No one wants to see a dingy door.

3. Decorate for your home’s target market. If you’re selling a 4 bedroom home in a family neighborhood, decorate to appeal to families. Whether you really have children or not, one of the bedrooms should be shown as a child’s room or even a nursery. Also, design a comfortable, welcoming family room. You want your buyers to imagine themselves living in the home. If they can’t visualize it, they’ll move on to the next listing.

4. Don’t try and sell an empty house. Furnishings are a must. A vacant house looks cold and unliveable. Buyers will imagine a nasty divorce or financial trouble and wonder how low an offer they can make. Furniture and accessories can be rented or borrowed to create the right environment to entice a buyer or buyers. Professional home stagers can provide everything you need if you so desire.

5. Lighting! Keep window treatments or drapes open for showings, use higher watt bulbs and if updating fixtures, keep them consistent with your home’s price point. If your home will be listed for more than $300,000, don’t use $5 builder’s fixtures, which reduce your home’s perceived value. All the same, don’t put an expensive crystal chandelier in a $100,000 starter home.

Call us today to learn how we can help you sell your home!