Behind the Numbers Click Title to view entire Yahoo Article

“To figure out which housing markets have yet to reach bottom, we looked at the 50 largest metropolitan statistical areas in the U.S., as defined by the Office of Management and Budget and, using calculations from Moody’s, analyzed each area’s spending power, unemployment, housing and credit availability going back 27 years.

Over that time, each area’s home prices have fluctuated differently according to these factors. Moody’s calculations determine how much each area’s home prices would have to change to bring that particular housing market back to a state of balance. The further from equilibrium, the further the market has to go. Projections were made on the basis of the current rate of price decline, absorption rate, employment and salary deterioration, and how long it would take each metro to wash out to a historical point of balance.

All of this adds up to bad news in one of the states hardest hit by the real estate bust, Florida–particularly Miami, Orlando and Jacksonville. Home prices are down 32%, 27% and 9%, respectively, in year-over-year terms, and are expected to decline a further 53%, 48% and 39% in each area, according to our calculations. Each has decade highs in unemployment, not to mention still out-of-balance price-to-home-price ratios.”

Wonder if this study considered any effects of the phasing out of the Shuttle Program.

Working late again entering a new rental listing for downtown area of Orlando and was just about to enter the information regarding the school districts, and came across an interesting poll.

Orange County Public Schools – OCPS Polls.

here are a few of the questions that were answered..

Q: Of Orange County’s 126 high-performing A and B schools, what percentage have high minority student populations (more than 50%)?

Q: How many days of the school year do you think Florida Lottery proceeds pay for in the operation of Orange County public schools?

Q: What percentage of OCPS operating revenue do you think is budgeted directly to schools?

Again, these are just a few of them, be sure to check the link above to see the answers as well as additional questions.

Brady Pevehouse

RISMEDIA, March 17, 2009-Ask homeowners about their DTI (debt-to-income) ratios, and they’re likely to respond with something like, “My what ratios?!” However, when distressed homeowners are sizing up their foreclosure options, they need to brush up on DTI ratios. Lenders will be scrutinizing these ratios to determine homeowner eligibility for loan modification and other debt relief.

via DTI Ratios: What Homeowners Need to Know | RISMedia.

If you are interested in the possibility of a loan modification, the above is a good start for researching what the lender will be looking at when evaluating the possibility of approving your load modification. If after reading the article you would like a more in depth look at your specific Debt to Income ration I will be more than happy to take a few minutes to answer your questions by phone.
No one, not even real estate agents enjoy any satisfaction in losing a home to foreclosure which is often why we push so hard to achieve a short sale. This is why, even if you are attempting to achieve a loan modification, it may be in your best interest to talk to someone who understands what the lender is looking at as well as someone who understands the ins and outs of achieving a short sale.

KNOW YOUR OPTIONS

Brady Pevehouse
(407) 282-4525
Orlando Real Estate |     Avalon Park Real Estate