Florida Mortgage Lender Blog & Real Estate News

Green Building Still Running High for Florida Homes
January 5th, 2010 10:19 AM
At the beginning of 2008, it was predicted that green national and Florida homes would not only become a steady trend, but would also become the nationwide norm. As the home building industry struggled with economic upheaval, the building of green homes was one sector that kept growing.

Energy Star Designations
As of December, 2009, over 1 million homes have received the Energy Star designation since the program’s inception in 1995. Despite the many foreclosures, the glutted housing market and drowning homeowners, 75,000 more homes gained the Energy Star designation in 2009, raising the numbers to 1,024,200.

In 2007, 12% of single-family homes in the U.S. were Energy Star homes. In 2008, the numbers had reached 17%. Although the reports have yet to come in for 2009, there’s no doubt the numbers are increasing.

Two Other Green Home Certifications
Energy Star isn’t the only one with a green program; the U.S. Green Building Council (USGBC) also has a green home certification program. The number of participating homes is small (3,050 by the end of ’09), but noteworthy.

The National Association of Home Builders Research Center (NAHB) provides the National Green Building Certification, with over 500 participants.

The need for green national and Florida homes is, admittedly, consumer driven. Homebuyers want energy efficient homes - whether those homes are newly constructed or remodeled – and are willing to pay for them. Yes, the cost is higher, but most expect to make back the money spent on the house through future energy savings.

As we move forward in 2010, keep green in mind because energy efficient Florida homes are in high demand. If you’re trying to sell your home and can’t get it off the market, consider renovation towards a greener world.

If you’re trying to sell your home or find a green home to buy, we can help. Call me today at 407-876-5771 for more information.
Posted by Real Estate - Associates on January 5th, 2010 10:19 AMPost a Comment (1)

How to Pay Off Your Florida Real Estate Mortgage Early
January 5th, 2010 10:14 AM

Few things sound better than paying off a thirty-year Florida real estate mortgage early. Not only will you be free of mortgage payments, you could also save thousands of dollars in interest payments over the life of the loan. Here are four ideas to help you pay off your mortgage early:


1. Apply any windfall monies you receive to your mortgage balance. Be sure to indicate that this is an extra payment and should be applied exclusively to your principle.
2. Make bi-weekly mortgage payments. Making exactly one-half payment every two weeks will add up to a total of twenty-six half payments per year. Or, thirteen whole payments each year instead of twelve. That’s the secret to paying off a Florida real estate mortgage early with bi-weekly payments. The interest rate itself isn't reduced, but the amount of money you pay in interest on the principal is.
3. Overpay a fixed amount every month. By sending in an extra fixed amount as an additional principal payment every month, you'll reduce the length of time it takes you to pay off your mortgage. By sending in a fixed amount every month, you can easily automate this process.
4. Use a prepayment calculator to figure out other ways to pay your mortgage off early. The free prepayment calculators available on the internet can also help you determine how quickly you can become mortgage free.

 
Before implementing any of these methods to pay off your Florida real estate mortgage early, contact your mortgage lender to find out if you'll be incurring any additional fees. It's also a good idea to ask your mortgage lender if there are any specific instructions you need to follow to be sure your payments are processed correctly.


Thinking about buying a home that you can pay off quickly? Call us now at 407-876-5771 for more information.

Posted by Real Estate - Associates on January 5th, 2010 10:14 AMPost a Comment (0)
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