Maycumber Realtors

Celebration Home to be Given Away

Well if you can write you might want to take a look at this article we found on a HOME GIVEAWAY in Celebration FL.

A 6,700 square foot mansion in Celebration, Florida is being given away to whoever can write the best essay.

It’s just like college — except at the end, you could have a mortgage-free 5 bedroom home instead of crippling student debt.

There’s a slight catch, though. You must submit a $285 non-refundable entry fee along with your essay, which must not exceed 300 words — a relatively small “risk” if you think you’ve got the chops to win.

Thinking of tossing your hat in the ring? Read the official Newswire press release below for details:

CELEBRATION, Fla. — Sept. 15, 2015 — Would owning a $1.2+ million home in the Sunshine State make your dreams come true? A Celebration, Florida, house for sale has an Team Maycumber Keller Williiamsunusual price tag: $285 and a winning essay.

To be considered, aspiring buyers must submit an essay of no more than 300 words explaining why they are the right buyer for this property by November 15, 2015. All essays will be judged on both their creativity and their mechanics, and the one that most impresses the seller will win the talented writer who penned it the opportunity to purchase this stunning property for just the cost of their entry fee.

Designed by renowned architect James L. Strickland, the founder of Historical Concepts, this fabulous house is located in the main village of the town of Celebration, a community developed by Disney that is nestled between Kissimmee and Orlando.

The home spans over 6,700 square feet and offers five bedrooms, five full bathrooms and two half bathrooms. The three-story house’s luxurious master suite has its own sitting room, a pair of spacious walk-in closets, an expansive bedroom and a delightful master bathroom. In fact, all the bedrooms feature both walk-in closets and bathrooms. Providing extra privacy, the fifth bedroom suite is situated above the two-car garage, which is attached by covered walkway to the pool area and a neighboring patio that is equipped with a grilling area. With some 3,000 square feet of covered porches and patios, this property is certain to enchant anyone who enjoys spending time outdoors.

Celebration is a planned community with a charming small-town atmosphere. It includes countless parks, pools, playgrounds and sports fields for its residents’ enjoyment. An impressive array of shops and a wide variety of restaurants are within walking distance, and the inclusive town also has multiple medical facilities and places of worship. As an added bonus, the town of Celebration is within easy access to all Walt Disney World Theme Parks.

How To Enter

Essays must be written in English and submitted online at Aspiring buyers may reside anywhere, but they must be at least 18 years of age. The $285 entry fee, which includes registration costs and processing fees, is non-refundable. The seller reserves the right to cancel the sale if an insufficient number of entries are received. In the event that the seller cancels the sale, 80 percent of the entry fee will be returned.

Here are a few pics to entice you into brushing up on your writing skills and sending in your entry before the cutoff date, November 15, 2015.

Source: Lighter Side of Real Estate


NothLake Park Lake Nona

NorthLake Park at Lake Nona

NorthLake Park Lake Nona

NorthLake Park in Lake Nona, Florida is a beautiful community, located in the Northernmost section of the Lake Nona area in East Orlando, Florida. The 500-acre community includes NorthLake Park Homes for Saleboth single and multi-family homes and hosts many excellent amenities:

  • The award-winning A-rated Northlake Park Community Elementary School
  • Lake Nona YMCA
  • Outdoor Olympic pool
  • Soccer Fields
  • Basketball Courts
  • Tennis Courts
  • Neighborhood Dog Park
  • Green Dock on beautiful Lake Nona

More information on Northlake Park can be found on:

Here are some of the homes sold by the Maycumber Team at Northlake Park: 


10043 Sweetleaf St. 

mortgages for real estate

New Mortgage Rules by CFPB Kick in Today To Ease Homebuying

These new mortgage rules are being implemented primarily to help a buyer assess what their loan means and to be able to size them up side by side.  It is an attempt for more transparency and clarity… this article from NBC News.

Shouldn’t you be able to read and understand a mortgage document before you sign it? The government thinks so, and new rules went into effect today to make that and other homebuyer-friendly changes happen.

The goal is to make the mind-numbing mortgage process much easier for consumers to understand. It’s called “Know Before You Owe,” which sounds simple enough.

The means to that goal, however, is all-new paperwork and disclosure rules for lenders that went into effect this past Saturday and which some say could delay the mortgage process and cost consumers cash.

The standardized forms spell out exactly how much a borrower must pay for closing costs and how much each monthly payment will be as the loan ages and potentially adjusts, right up until its term ends.

Borrowers must get these new, standardized forms at least three days before closing on the loan, which is a shift from previous standards, which allowed changes to be made on a loan right up to and even during the closing.

Image: For sale sign at house
A sold sign is displayed outside a new home under construction in Mechanicsville, Va. Steve Helber / AP

“I think that’s a big one because consumers have been complaining about this left and right because they would get to the signing table and suddenly everything would change,” said Jason van den Brand, CEO of Lenda, an online mortgage refinance company operating in Washington, Oregon and California. “So you get quoted something and the loan gets locked, and you get to the closing table and suddenly the rate has gone up by a quarter percent, your fees have gone up $10,000 and you’re sitting there scratching your head going, what just happened?”

This is another outgrowth of the Dodd-Frank law, passed in 2010, designed to hold lenders accountable and protect consumers against what happened during the last housing boom. Back then, lenders offered borrowers loans with complicated terms, adjustments and penalties, without having to fully explain them.

Some borrowers didn’t even know their loans could adjust to higher payments or that the loans themselves were actually growing in size. Many of those risky loan products have been banned, but adjustable-rate loans are still perfectly legal and considered beneficial for many borrowers, as long as the borrowers know what they’re getting into.

The new rules (TILA RESPA Integrated Disclosure or TRID, if you really want to know) were completed two years ago, and the final date for implementation was even delayed three more months to make sure lenders could comply. At the heart of it are two forms, one providing the loan estimate and one the closing disclosure.

Those forms are designed to simplify the process for borrowers, but lenders have spent billions of dollars updating their systems to make sure they are complying, according to the Mortgage Bankers Association, which has a TRID Resource tab on its website. Some worry that even now lenders and real estate agents are just not ready.

“I think if we see a significant slowdown, and it doesn’t have to be that significant 30 to 60 [days] is pretty significant, if we see that slowdown start to happen, we’re going to see deals fall through and lenders change in the middle, and that’s the cascading effect that we are most concerned about,” said Mark McElroy, CEO of Pavaso, a digital closing platform.

Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB), which is behind the new rules, reiterated in testimony to Congress last week that there will be something of a grace period for lenders to comply.

“Nobody believes that market participants are going to be trying to abuse consumers here; they’re trying to change their systems. So we’ll be diagnostic and corrective, not punitive, and there will be time for them to work to get it right and not be perfect on the first day,” said Cordray.

With the rules just 2 days old, Matt Weaver, vice president of mortgage sales at Finance of America Mortgage, a Blackstone Company, says it appears the sky has not in fact fallen, but he does expect to see delays, especially at the big banks, where closing time could stretch out to 60 or 75 days.

“There is a fee to extend rate locks. The question is, is that cost going to be passed on to the client. From an overall perspective, the market is saying slow down. It will all work itself out, but out of the gate we certainly are going to see some turbulence with the larger banks simply because of their volume,” said Weaver.



The Maycumber Team at Come out with Pride!

The Maycumber Team will be at Come out with Pride on Saturday, October 10th at Lake Eola along Rosalind Ave from 12pm-5pm! Come out with Pride is a non-profit event that welcomes over 150,000 attendees every year in a chance to celebrate Pride United. Come out with Pride also features a Zebra 5K run at 7:30am, Colorful Parade at 4pm, and a Fireworks Show at 9pm. It’s fun for the entire family, so make sure to “Come out with Pride” at Lake Eola on Saturday, October 10th and say hi to one of our team members! See you there.

Lake Nona Real Estate

Lake Nona Properties

Buying a Home 48% More Affordable Than 2006

Home prices may be reaching new highs lately, but buying a home is still significantly more affordable than it was during the 2006 housing bubble, accordingLake Nona Properties to a new report by RealtyTrac. Low interest rates have largely contributed to keeping homes more affordable in recent months, according to the analysis.

Monthly payments on an average-priced home – including property taxes, home insurance, private mortgage insurance, and assuming a 3 percent down payment – required 36.5 percent of the average wage nationwide in the first quarter. That’s slightly down from 37.4 percent in the first quarter a year ago, but it marks the most affordable level since the first quarter of 2013 – when affordability was 33.5 percent, according to RealtyTrac’s analysis.

“Although home prices continue to outpace wage growth in the majority of local markets, this analysis somewhat surprisingly shows that affordability is actually improving in most markets thanks to falling interest rates and slowing home price growth, which is allowing wage growth to catch up in some markets,” says Daren Blomquist, vice president at RealtyTrac. “At the national level, buying an average-priced home in the first quarter of 2015 was the most affordable it’s been in two years and nearly twice as affordable as it was in the second quarter of 2006 — when affordability was its worst in the past 10 years. At the local level we’re seeing several bellwether markets where wage growth matched or even outpaced home price growth over the past year.”

Housing affordability was highest in the last decade in the first quarter of 2012 – that’s when a monthly house payment required 32 percent of average wages. On the other hand, buying a home was the least affordable in the last decade in the second quarter of 2006. Monthly payments then required a whopping 70.7 percent of average wages, according to RealtyTrac’s analysis.

The average home price remains 12 percent below what it was in the second quarter of 2006 – the least affordable level in the last decade. During that same time period, the average wage nationwide has increased 34 percent and the average interest rate on a 30-year fixed-rate mortgage has dropped 44 percent during that time period. That has helped boost affordability by 48 percent, according to RealtyTrac’s analysis.

The most affordable counties in the first quarter, according to RealtyTrac’s analsyis, were:

  1. Hamilton County, Fla.: 5.6% of the average wage was needed to make monthly payment on an average-priced home
  2. Saint Louis County, Mo.: 8.3%  average wage needed
  3. Saint Louis City, Mo.: 9.4% average wage needed
  4. Lake County, Ind. (in the Chicago metro area): 9.5% average needed
  5. Fairfield County, S.C. (Columbia metro area): 10.3% average needed



Chicago Real Estate

The most expensive zip codes in 15 major US cities

This is an interesting article we found on some very expensive places to live all around the US!Florida real estate

City life is expensive — but city life in the swankiest neighborhoods in the US can be outrageous.

The median listing price for homes in the quaint Boston neighborhood of Beacon Hill is over $3.7 million. And if you head to Atherton in San Francisco, the median home price exceeds $10 million.

Online real estate site Trulia analyzed the median price per square foot of homes across the biggest metropolitan areas in the US and provided Business Insider with a list of the most expensive zip codes in each.

Here, we’ve highlighted the most expensive zips in 15 major cities, ranked in order of price per square foot of real estate, the neighborhood (or island) they’re most closely associated with, and the median listing price in each neighborhood.

15. St. Louis, Missouri: 63124 | Ladue

Missouri Real estate
A home in Ladue.
Median listing price: $889,495

Price per square foot: $248

14. Tampa, Florida: 33786 | Belleair Beach
Tampa Florida Real Estate
A Belleair Beach home.
Median listing price: $725,000

Price per square foot: $380

13. Newark, New Jersey: 07078 | Short Hills
Newark Real Estate
A home in Short Hills.
Median listing price: $1,849,500

Price per square foot: $409

12. Dallas, Texas: 75201 | Arts District
Dallas Real Estate
The Arts District of Dallas.
Median listing price: $862,500

Price per square foot: $455

11. Denver, Colorado: 80202 | Lower Downtown
Denver Real Estate
Downtown Denver.
Median listing price: $574,800

Price per square foot: $478

10. Chicago, Illinois: 60603 | Loop
Chicago Real Estate
Cloud Gate, the famous sculpture at Millennium Park in Loop, Chicago.
Median listing price: $895,500

Price per square foot: $599

9. Washington, DC: 20004 | Penn Quarter
Washington Real Estate
Penn Quarter buildings.
Median listing price: $499,900

Price per square foot: $609

8. Seattle, Washington: 98039 | Medina
Seatle Real Estate
A home in Medina.
Median listing price: $2,998,000

Price per square foot: $746

7. San Diego, California: 92118 | Coronado
San Diego Real Estate
Hotel del Coronado.
Median listing price: $1,799,000

Price per square foot: $866

6. Boston, Massachusetts: 02108 | Beacon Hill
Boston Real Estate
The streets of Beacon Hill.
Median listing price: $3,750,000

Price per square foot: $1,290

5. Los Angeles, California: 90401 | Downtown Santa Monica
Los Angeles Real Estate
Downtown Santa Monica.
Median listing price: $2,070,000

Price per square foot: $1,304

4. Orange County, California: 92662 | Balboa Island
California Real Estate
Houses on Balboa Island.
Median listing price: $2,950,000

Price per square foot: $1,443

3. Miami, Florida: 33109 | Fisher Island
Florida Real estate
Fisher Island.
Median listing price: $5,900,000

Price per square foot: $1,586

2. San Francisco, California: 94027 | Atherton
California Real Estate
A home in Atherton.
Median listing price: $10,247,500

Price per square foot: $1,669

1. New York, New York: 10007 | Tribeca
New York Real Estate
Tribeca, Manhattan.
Median listing price: $5,105,000

Price per square foot: $2,829



Investment Properties

Why Chinese investors are pouring money into US real estate

No, Paul Revere didn’t yell that — rather, it’s what some real estate market makers are saying as a result of the China being in the red (no pun intended).

With a recent precipitous drop in its stock market, the aftershock has lead to an upswing in purchase contracts being inked for American real estate.

The inverted exodus of capital flow from the Chinese is a natural phenomenon because money typically flows outward from a countries’ border when economic calamity is either actual or perceived. In this case, it appears to be just a burp.

Who’s to blame for this trend? Try not to say Donald Trump — that’s too easy of a punchline these days. And if you’re using that line, you’re not likely as hip as you think you are.

Investment Properties

Eddy Galeotti /

Industry watchers have stated that the sudden collapse in the Shanghai Composite, along with the devaluation of the yuan over the past several weeks, might be a prophetic harbinger for U.S. real estate.

“Au contraire” say those who are bullish. In a classic textbook example of contrarian thinking and the unavoidable “yin and yang” of market movements, herds are not always followed. Other market watchers astutely point to the real-time capital outflows from a troubled China that are going to the relative safety of American soil.

The capital outflows from a troubled China are going to the relative safety of American soil.

Given that Chinese stocks have crashed 40 percent since June and wiped away trillions of dollars in market value, this says a lot about Chinese staying power when it comes to keeping their chins up and going elsewhere with their money.

“There’s a fear that Chinese buyers, who have been such a market maker in parts of the United States, may pull back,” said economist Jim Costello of Real Capital Analytics. “Those fears are a little unfounded.”

Costello — and others like him — points out that the resilience of Chinese capital is simply not poppycock, but is, in fact, real, based on the numbers.

According to one reputable online source: Commercial real estate isn’t the only type of property seeing large inflows of Chinese money. The country’s investors have also been active in residential realty.

They bought $28.6 billion in American residences from April 2014 through March 2015, accounting for 28 percent of all foreign purchases by dollar volume, according to data from the National Association of Realtors.

The homes they acquired tended to be on the luxury side; the average house in the U.S. sold for $255,600, but Chinese buyers spent on average $831,800 for their American homes.

The avg. US home sold for $255,600 — Chinese buyers spent on avg. $831,800 for American homes.

And furthermore, at least in the opinion of Jonathan Miller, president of the appraisal firm Miller Samuel based out of New York City, the turmoil in China might lead to more investment in American residential and commercial real estate.

“There are not a lot of investment vehicles in China,” said Miller. “You have the [Chinese] housing market, which is a pretty significant bubble. You have thousands of ghost cities that have been constructed.

“On top of that, you have a pretty volatile stock market situation. So there is some speculation that there actually will be outflow as a result of this, and maybe that will end up in the U.S.”

Chinese citizens are starting to think money in the bank isn’t safe because it won’t gain any value if the renminbi is still devaluing, so people will look to real estate as a solid investment channel, said David Ji of Knight Frank, an international real estate agency.

One might ask oneself, what’s that got to do with the price of rice in China? Well, it has everything to do with China.

As it stands, Chinese investors are exceedingly active in many major markets, such as New York. They are coming in droves.

Chinese are the leading foreign buyers of American homes. In fact, as stated earlier, they represent 28 percent of all homes purchased by foreign buyers last year.

Chinese bought $28.6 billion in American residences — 28 percent of all foreign purchases.

What’s the takeaway? Market corrections do work. And to the benefit of high-end American homeowners and their commercial property owner counterparts, the presence of Chinese buyers are a welcome sight.



5 Top Motivators for Buying Now

Here are some interesting thoughts on what motivates people to move.  Hopefully to Florida and more specifically Lake Nona FL!

What are the main drivers in today’s home-buying decisions?® sought to find out in a recent survey of active house hunters taken this June and July through the BDX Home Shopper Insights Panel. According to the survey, here are the top reasons buyers identified as triggering them to start thinking about purchasing a home:

1. “I’m tired of my house.”

That was the top reason house hunters identified as wanting to move, cited by 28 percent of the panel. The average time in a home has risen since the last recession as more owners found themselves underwater and facing price declines from 2007 to 2011. “After four years of above-average price appreciation, confidence in the market has returned,” notes Jonathan Smoke,®’s chief economist.

2. Interest rates are attractive.

Interest rates continue to be low and they were the second trigger that buyers identified among 27 percent of shoppers as why they want to act now. The average 30-year fixed-rate mortgage reached a low in January at 3.63 percent and continue to mostly average under 4 percent. Last week, Freddie Mac reported the 30-year fixed-rate mortgage averaged 3.86 percent. That’s a big discount compared to the average monthly 30-year fixed conforming rate since 1971, which was a whopping 8.39 percent. “Compared to that, interest rates will certainly remain favorable for many months ahead,” Smoke says.

3. Home prices are favorable.

In a 2012® survey, 47 percent of active home shoppers cited favorable home prices as the top trigger for buying. The price motivation has been decreasing, but it still remains one of the top triggers. Today, just 26 percent of home shoppers cite favorable home prices as a reason for buying. In June, the U.S. surpassed its 2006 peak as home prices zoomed to a record high – a median of $236,400, according to the National Association of REALTORS®. But on an inflation-adjusted basis, home prices today are still about 20 percent beneath the peak at the height of the housing bubble, Smoke adds.

4. “I’ve got more money to spend.”

Twenty-four percent of active home buyers say an increase in income is their primary trigger for buying a home now. Indeed, now several years post-recession, more households are financially better off. Among 25- to 34-year-olds surveyed, they cited having more money to spend as the No. 1 motivator in buying – cited by 35 percent of these “older” millennials, Smoke notes.

5. A change in family circumstances.

Eighteen percent of home buyers said a change in family circumstance or composition was their main reason for buying. More people are expanding their families: Births did rise last year and are expected to grow again this year as well.

Source: RealtorMag


We Know Nona

Thinking of Selling? 5 Reasons You Shouldn’t For Sale By Owner

Here are some great tips about selling by owner.  We are bias obviously but there are real issues to look out for when trying to sell your home.  They can cost you.

In today’s market, with homes selling quickly and prices rising some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers.

Here are five reasons:

1. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interest of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house.
  • The appraiser if there is a question of value

 2. Exposure to Prospective Purchasers

Recent studies have shown that 88% of buyers search online for a home. That is in comparison to only 21% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

3. Results Come from the Internet

Where do buyers find the home they actually purchased?

  • 43% on the internet
  • 9% from a yard sign
  • 1% from newspaper

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

4. FSBOing has Become More and More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years.

5. You Net More Money when Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.

Studies have shown that the typical house sold by the homeowner sells for $208,000 while the typical house sold by an agent sells for $235,000. This doesn’t mean that an agent can get $27,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

Bottom Line

Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.

Source: Article Source


Lake Nona Medical City

Lake Nona Medical City

Lake Nona Medical City is a 650-acre health and life sciences park in Orlando, Florida, United States. It is located near Orlando International Airport and within the master-planned community of Lake Nona. The city is home to the University of Central Florida’s Health Sciences Campus, which includes the university’s College of Medicine and Burnett School of Biomedical Sciences. In the future, the campus will also house UCF’s College of Nursing, College of Dental Medicine, and a teaching hospital.

The medical city also includes the Sanford-Burnham Medical Research Institute, Nemours Children’s Hospital, a University of Florida Academic and Research Center, and Valencia College at Lake Nona. In addition, a Veterans Affairs Medical Center began seeing clinical patients from February, 2015.

The concept of the medical city began in October 2005 when the Tavistock Group donated $12.5 million and 50 acres of land to the University of Central Florida to help establish a medical school.  In March 2006, the Florida Board of Governors voted to approve UCF’s proposal to build a medical college at Lake Nona, and the school greeted its first students in Fall 2009. In 2012, UCF purchased an additional 25 acres of land at Lake Nona to construct a teaching hospital.

The medical city is surrounded by education facilities, five million square feet of commercial and retail space, and a mix of residential options. Upon completion of construction of the various projects, UCF’s Health Science Campus will accommodate as many as 5,000 upper division, professional, and graduate students and faculty members in the health-related programs, and include up to two million square feet of research and instruction space. It is estimated that the medical city will create up to 30,000 jobs and have a $7.6 billion impact on the economy over the next decade.

Lake Nona is a 7,000-acre master-planned community. Forty percent of the community has been reserved for open green space and lakes. Lake Nona’s amenities include a planned 334-acre city park, 44 miles of planned trails, a number of community parks and 1,000-acre of lakes and waterways.

Article Source: Wikipedia