Steve Eckhardt, Tampa & Sarasota Luxury Broker

Circulation down at Tampa Bay dailies - Tampa Bay Business Journal:

This Is why Cornerstone Properties focuses 100% of our marketing dollars on Internet advertising. Over the last 3 months, we generated over 3.5 million page views for our listings. http://www.thefloridaauthority.com/ , http://www.searchfortampahomes.com/

Florida's existing home sales rose in September, which marks more than a year (13 months) that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®.

Existing home sales rose 34 percent last month with a total of 14,419 homes sold statewide compared to 10,778 homes sold in September 2008, according to Florida Realtors. Statewide existing home sales last month increased 4.1 percent over statewide sales activity in August. Florida Realtors also reported a 77 percent increase in statewide sales of existing condos in September compared to the previous year's sales figure; statewide existing condo sales last month rose 8.9 percent over the total units sold in August.

Read the full coverage at http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=225719

Find a home in Sarasota or Tampa Bay at www.SearchForTampaHomes.com

The Today Show's Al Roker talked to real estate guru Barbara Corcoran about the US cities where you can get the biggest bang for your buck. Together, they reviewed the 10 Biggest Markets on Sale across the country, cities where prices have dropped the most, and the areas with the greatest real estate values.

http://www.msnbc.msn.com/id/22425001/vp/33191501#33191501

Visit www.SearchForTampaHomes.com to have listings delivered directly to your e-mail

For the second time in less than 3 months, Fannie Mae announced changes to its mortgage guidelines.

The updates are meant to reduce the mortgage firm's overall risk.

The first major change is with respect to credit scoring. All Fannie Mae loans -- whether underwritten electronically or manually -- require a 620 credit score minimum. There are very few exceptions.

A second change relates to loans with private mortgage insurance. Homeowners whose loan-to-value exceeds 80 percent now have a choice:

1. Accept higher mortgage insurance premiums month-after-month
2. Accept a one-time fee paid at closing to compensate for higher risk

Both options pass higher costs to consumers.Then, a third change relates to maximum debt-to-income ratio. As announced, Fannie Mae will no longer approve expense ratios exceeding 45 percent except with very strong assets and credit to back it up. In no case can expense ratios exceed 50 percent.

There are other changes, too, including the elimination of seldom-used mortgage products and new risk-based pricing on "expanded level" approvals.

Fannie Mae implements its updates during the weekend of December 12.

So, if you're going to need (or want) a new mortgage later this year, consider moving up your timeframe to October or November. Once the guidelines change, getting approved for a mortgage is going to be tougher.

Sales of homes for more than $1 million are 50 percent lower than their all-time high, in July 2005, according to the firm MDA DataQuick. That's twice as bad as the downturn for housing of all price tags in the same time period. There's a definite flip side to that market statistic, though: If you're fortunate enough to still have money, there's likely never been a better time to acquire "luxury" property at bargain rates. Such homebuyers should be able to get roughly 20 percent "more house" than they did in recent years, Josh Brian Losh of luxuryrealestate.com told the AP.

Find your luxury home at www.TheFloridaAuthority.com