Thanks and Happy Holidays

We want to thank you all for your continued support and for allowing us to assist you, your families and friends with their real estate related transactions. The market had been challenging to say the least. We had been privileged to be able to continue to serve clients and customers with purchases and sales. Many real estate agents have been forced to seek employment elsewhere, as the industry faces difficult times. The mortgage meltdown and the wave of foreclosures have changed the way we look at real estate. The market has turned upside down and buyers, sellers and real estate practitioners alike seek to understand the dynamics of the ever changing global marketplace. Defunct home loans in the US caused banks in Island, the far east and other places to cave under pressure while the stock markets worldwide experience a roller coaster ride of up and downs. In the midst of all average American families experience hardships they did not knew before.
Please let me ensure you that we will be available whenever needed to offer our experience and advice. Although many situations appear to be new to the market, we continue to educate ourselves so that we can offer comprehensive services in any type of situation.
We appreciate your continued support throughout the year and we welcome any opportunity to be of assistance.

In the middle of all news chatter, polling, spinning, blogging and such is a new dawn of hope on the horizon. First time home buyers, once left out of the American dream by high home prices and limited availability are now in the driver seat. Investors can now pick up real estate investment that will make financial sense. Families find better interest rates to finance existing or new homes. We are confident that the American people once more will rise up to the challenges and will restore the American dream for millions of citizens and immigrants alike. I wish you a peaceful holiday season and a new year that will bring opportunity, inspiration and chance to all.

Malte Strauss

Orlando Market Update

First time homebuyers have the best conditions since March 2004 to purchase a home in the Orlando area, as a decrease in the median sales price of homes sold in November pushed the first time homebuyer affordability index up to 96.09 percent. In addition, inventory of houses on the market is stocked with more than 6,030 homes in the average first time buyer’s price range of $136,422 or less.

MORTGAGES

Real estate agents scrambling for a new way to move buyers into homes could tap an obscure home-loan program offered by the U.S. Department of Agriculture. It requires no money down, and builders are using it to offer deals like "$500 moves you in." However, the program may run out of funding soon unless Congress acts.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-121608.cfm

FORECLOSURES

Fannie Mae said Monday it's finalizing a plan to help renters stay in their homes even if their landlord enters foreclosure. The mortgage giant says renters who can make their monthly payments could be offered a new lease or given cash to help move to a new home.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-121608.cfm

Financial Bailout

House Speaker Nancy Pelosi said yesterday that the Bush administration must do more to help struggling borrowers stay in their homes before Congress will release more money to the Treasury Department's financial system bailout. So far, the Treasury has spent $335 billion, leaving its first installment with only $15 billion.Read the full story: http://www.floridarealtors.org/NewsAndEvents/n5-121608.cfm