TweetHi folks! The month of October has shown that 136 homes were sold in Lakeland at an average price with a continuous decline to just under $150,000. When comparing the data to last year, we have seen that the average sold price of a home decreased by 24% from $184,486 to $149,333. Folks, these are…
Tag Archive: Polk County
Simple Real Estate Definitions : Amortization
TweetIn dealing with my customers in and round Winter Haven and other cities here in Polk County, FL – I try to be sure that they all understand the terminology encountered as part of each home loan transaction. This post provides a basic definition of Amortization. In the widest definition possible, amortization (pronounced: am-ohr-tih-ZAY-shun) is…
New Fannie Mae Changes – Buyers on the Fence Should Take Heed
TweetIn an effort to limit risky borrower behavior, Fannie Mae announced a new round of mortgage guideline changes last week. Unlike previous its previous 20-plus updates that raised income requirements and minimum credit scores (among other changes), Fannie’s latest guideline tweaks focus on the value of its underlying mortgage assets — home equity. Effective December…
Private Mortgage Insurance Defaults Have Rates on the Rise
Tweet PMI rates in Winter Haven, FL and across the nation are higher today than they were six months ago and the rising number of defaults makes it likely that rates will rise again soon. As PMI rates increase, so does the cost of homeownership for people whose lenders require it. Private Mortgage Insurance…
OK Winter Haven, Get Those Mortgage Rate Crystal Balls Polished Up!
Tweet As the good folks of Winter Haven, FL and the rest of Polk County try to make sense of what’s going on in the mortgage and financial markets – one thing holds true about the overall outlook: It’s clear as mud! As the stock market dips then jumps then dips again, it’s important…
