RTS Orlando Homes

Is a Refinance Necessary?

I have fielded a number of calls recently from homeowners who are seeking my opinion regarding their needs to refinance.  In the majority of cases, these people are distressed by what they are reading about mortgage woes.  For most of them, no refinance is necessary. 

If you are wondering if refinancing is right for you or would just like some peace of mind, call me for a brief review of your mortgage terms and the perils, if any, that face you.  In most cases, the homeowners that have called me are running from something that is not even chasing them.  They just need to hear it from a professional.

Mickey Carlton
Thomas Mortgage
(one of the preferred vendors of RTSOrlandoHomes.com)
407-788-5100

NOTE:  Please tell Mickey that you heard about him from RTSOrlandoHomes.com.  If you are a past or current client of David Gallup or Len Hardison, please let Mickey know that as well.

Home about 23 min from RTS

This lovely home in Sanford located (according to Google Maps) about 23 minutes from RTS via the Greeneway.  While its mailing address is Sanford, it is located just outside Lake Mary, rated as the #1 place to live in the South by Money Magazine (see our archives for the full article about Lake Mary)

New FHASecure loan program - will it help me refinance?

One of my former clients e-mailed this morning and asked whether the new FHASecure loan program would be appropriate for her to use in refinancing her ARM.  I expect that many Realtors will get similar questions from clients who've purchased homes with them as this new program gets more exposure in the media.  And it WILL get more exposure as politicians try to convince the public that steps are being taken to alleviate the "mortgage mess". 

This program will help a few people but will not be the silver bullet that solves all problems.  In fact, most people who are in trouble with their ARM loans will not even qualify for the program.   In the case of my client mentioned above, she does not need, nor does she even qualify for the program because her loan has not started to adjust (as required by the current guidelines).  In addition, as is the case with all FHA programs, this one carries upfront mortgage insurance plus a monthly ongoing mortgage insurance.  My client is not currently paying mortgage insurance of any kind so this loan would actually increase her monthly housing expenses. 

In addition to being exposed to the media coverage of this loan, homeowners are going to get all sorts of direct mail and telephone solicitations offering refinances.  As a mortgage consultant, I continue to take steps to ensure that the clients who trust me are not "taken" by people who are just trying to make a quick dollar.  This loan, while being salvation for a few, will not be appropriate for most people. It's best to talk with a trusted mortgage expert about your specific situation for advice in this matter.

-- Mickey Carlton, Mortgage Consultant with Thomas Mortgage (a trusted vendor of RTSOrlandoHomes.com)

Let the Buyer be Aware

Here’s a quick post to let you know how we can help you or anyone you might refer to us.

As we’ve watched a seller’s market turn into a buyer’s market, we find ourselves thinking of the large inventory of homes for sale and the large number of people who have been thinking about making a move or an investment.  But do they understand the importance of taking action now, before the market changes again — as we know it will? 

Over the past few months, our team has helped two young couples purchase their first home; a growing family buy a larger home with a wonderful backyard; a husband and wife purchase two rental properties; and a student buy the townhouse he’d been renting near his college.  Some or all of these purchases might not have been possible for our clients a year ago, but now the timing is right — for buyers who are aware of the opportunities.

David Gallup & Len Hardison, Your Friends in the Real Estate Business   

P.S. Who’s the next person you know who’s thinking of purchasing their first home, a move-up home or an investment property?  Please give us a call to discuss how we can let them know about our services.

Home for Sale in Waterford Lakes

Please take the video tour of this 4 bedroom home with a swimming pool located in the popular neighborhood of Waterford Lakes that we've recently listed for sale.  The travel time from RTS to this home is approximately 19 minutes.

Oviedo Residences

The map below shows you the locations of a number of Oviedo apartment, townhome/condo and single family home communities so you can get an idea of some of the types of living situations in the immediate area around RTS.  Please use the Oviedo Residence links in the left sidebar to learn more about each community. 

This is not an exhaustive list of all of the neighborhoods in Oviedo.  If you would like to get further information about the neighborhoods on this site or learn about additional communities, please email us at: David@davidgallup.com 

Click on the thumbnail photo below to see a larger image

The neighborhoods noted on this site were chosen either because a number of RTS students have lived in them in the past and/or it is representative of the area.  The inclusion of a neighborhood on this website is for your convenience, and does not connote an endorsement of the neighborhood or specific homes within the neighborhood by RTS, David Gallup, Len Hardison or RE/MAX 200 Realty.

Greater Orlando Residences

The map below shows you the locations of a number of apartment, townhome/condo and single family home communities in the greater Orlando area that are within reasonable driving distances from RTS so you can get an idea of some of the types of living situations available.  Please use the Greater Orlando Area Residence links in the left sidebar to learn more about each community.

This is not an exhaustive list of all of the neighborhoods within a reasonable drive of the seminary.  If you would like to get further information about the neighborhoods on this site or learn about additional communities, please email us at: David@davidgallup.com 

Click on the thumbnail photo below to see a larger image
The neighborhoods noted on this site were chosen either because a number of RTS students have lived in them in the past and/or it is representative of the area.  The inclusion of a neighborhood on this website is for your convenience, and does not connote an endorsement of the neighborhood or specific homes within the neighborhood by RTS, David Gallup, Len Hardison or RE/MAX 200 Realty.

Feeling for the Bottom

Feeling for the bottom . . . economists tell us that’s what the market is doing right now and here’s what they’re watching:

·    MLS Inventories at unprecedented levels
·    Builders cutting back to whittle down their existing inventory
·    Surveys showing buyers remain uncertain about when to buy
·    Uncertainty about homeowner insurance premiums
·    Confusion over the impact of the legislature’s property tax changes

On the bright side:

·    There’s tons of pent-up demand for housing
·    Interest rates may inch up, but are expected to remain very attractive through 2008
·    The national and local economies both remain strong with no sign of a looming recession
·    The inflation rate is actually declining.
·    The median sales price in our market continues to hover around $250,000

In other words, the indicators are pointing to a short-lived bottom before the market begins self-correcting and heads back up.  One nice thing about a “free market system” is that it always seeks equilibrium.  Experts say that even as forces push the market to one side of the supply/demand equation, other forces are already building to push it back.

Here are several things to watch:

·    The number of inventory homes - currently at about 26,000 properties
·    The months supply - currently at 18 months.  In June of ‘06 we had about a 6½ month’s supply and were just entering a Buyer’s market.  Historically a 6 months’ supply of inventory has been considered a neutral market - neither a Buyer’s or a Seller’s market (click on graph for full size image)

Remember that the best economist can’t tell us when we’re at the bottom.  They can only tell us when it happened after the rebound is well underway.  That’s because the economist works with historical data.  Neither can the home buyer know the best time to purchase.  One thing is clear, however:  in the next six months there will be some great opportunities to purchase property in our market. 

As always, we’re here to make the complex understandable and lead you to a great investment whether it’s a bigger home or an investment property for your portfolio.  Over the past 23 remarkable years, we’ve guided 897 clients in creating wealth and financial security for their families by successfully investing in residential property.

-- David Gallup, Realtor

Staging Your Home for Sale - Spend Money to Make Money

This final installation in the 'Setting the Stage' series on the Today Show, Barbara Corcoran, real estate staging expert, does a major staging job spending $5,000 preparing a home to sell for the highest possible price.  Learn more about how to spend money wisely to prepare your home for sale to get two to three times the amount you put in back when the home sells.

 

Staging a Home for Sale for Under $500

The second in the 'Setting The Stage' series on The Today Show, Barbara Corcoran gives expert advice on how to stage a home for sale to garner the best price while spending only $500 on staging elements.