Save Time and Money by hiring an Orlando Buyer’s Agent

 When talking about residential real estate in Orlando, sellers will usually do extensive research before hiring a real estate agent that they feel comfortable with. They will ask family and friends for advice, research on line, read reviews, ask for references, etc. Then after coming up with several prospects, sellers will go a step even further and interview the potential realtor in person.

Buyers however, tend to be much less cautious with their approach. If a buyer looking for a home in the Orlando area sees a sign that says “Orlando homes for sale”, they will have no problem going with that real estate agent without knowing a thing about the person.  They’ve just put this person in charge of their search for a new home without thinking twice.

Most potential home buyers tend to have a “What do I have to lose?” type of attitude. They figure that if the realtor shows them some houses that they like then that’s good and if not, then no big deal, they will just go to another one. In my opinion, this is a horrible approach and a buyer could end up paying more money for a house in the long run, not to mention the potential frustration it can cause you along the way.

Researching a Buyer’s agent is just as important as researching a listing agent.

Don’t rely solely on an advertisement to tell you what you need to know about an agent. Sure, the agent will probably have ads about homes that will most likely contain a nice set of photos, a brief summary of the property’s major amenities, and a stated asking price, etc. Don’t get me wrong, all of these things are important for an ad as far as making it “eye catching” so that a  buyer will want to see the property. However, this tells you absolutely nothing about the agent that you will be working with.

Here are a few things you should focus on when looking to hire a buyer’s agent.

Experience: Find out how many years of experience the realtor has in the area that you are interested in. You want an agent that will know a good deal [based on the criteria that you’ve given them] as soon as it hits the market.

Education and training: Although nothing takes the place of experience in the real estate industry, it’s important to know that your agent has had the proper training and education in order for them to be a successful buyer’s agent. Find out if they have any special endorsements in their area of expertise.

Track record: Buying a house will be one of, if not the most important decision of your lifetime. This is why you should hire someone with an excellent track record as a buyer’s agent. How many houses have they sold in the past 6 months, year, etc. Also, ask for references from past clients. If they say that they don’t have any, then something’s wrong and I suggest that you keep looking.  

Area of Expertise? Although many Orlando real estate agents work with both buyers and sellers, it’s far better for the buyer to seek out a buyer’s agent. This is a real estate agent that specializes in locating houses for potential buyers. They are on the MLS everyday seeking out houses for potential buyers and are highly tuned in to what’s for sale in their farm area.

 

A good real estate agent, whether you’re buying or selling, is there to look out for your best interest. Looking for and finding you a house that meets your criteria is just the beginning. A good real estate agent will walk you through the entire process and make sure that everything gets done correctly legally. From negotiating the price to setting up home inspections to closing the transaction, having a good realtor in your corner will save you time and money.  

 

 

Orlando Real Estate Broker

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Florida incomes and Orlando real estate continue to rise

Floridians income increase along with their confidence

 

Florida has shown substantial gains on three different areas, Real estate prices, income and consumer confidence. Much of this can be attributed to the overall housing market in Florida. Orlando real estate is a great accelerator when it comes to creating jobs and increasing local incomes, then the next logical thing that happens is a confidence boost. It’s just human nature, when people are doing OK financially they not only feel better about themselves but they become more confident about how much they can spend when house hunting.

I think It’s good that Floridian’s consumer confidence is at it’s highest point in 5 years but potential home buyers still need to be careful. The Orlando real estate market is constantly changing and right now it’s on the rise as it has been for the past 2 years or so. This doesn’t mean that you should buy just any house listed on the MLS. The truth is that many Orlando properties that I see listed are seriously overpriced. Sometimes this is due to the seller wanting to sell for the absolute highest price in the neighborhood because sellers typically believe that the house where they live is special compared to other houses in the same neighborhood, again…just human nature.

 

Short Sale Lenders are sometimes to blame for overpriced real estate listings

As short sale realtors, we are sometimes told by the client’s lender how much to list the property for. Sometimes, no matter how many years of experience we have in selling Orlando real estate, they still think they know more about the local market than an experienced Orlando realtor. I’ve argued with negotiators until I’m blue in the face as far as “fair market value” is concerned and they will still try to tell me how much the property should be listed for. However I quickly learn, usually on the first conversation, whether arguing my point will do you any good. Lenders that absolutely insist on telling me how much to list a property for… in my area of expertise,  I do just that.

9 out of 10 times, the result is that the property spends a lot more time on the market than it should have. With no offers or contracts after several weeks or even months of the property being listed, short sale negotiators will eventually figure out that they’re asking price needs to be lowered, then…I do just that and the property gets sold.

 

 

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Frustrations Increase among active Orlando Real Estate Buyers

Active Orlando Realty buyers are more frustrated than ever

People that are actively searching for an Orlando property are getting more and more concerned about rising prices on quality Orlando homes and they have every right to be. Inventory is at an all time low while demand is through the roof. Many of them have even decided to put their home buying plans on hold and have elected to remain in their current housing situation.

One of the biggest concerns right now is the lack of inventory in Orlando real estate. Buyers get very frustrated when they find a property that they like only to find that there is already 10 offers on the table for the same property.

In Orlando there is about half as many homes for sale as there was this time last year. Some people still believe that prices will drop and are holding out for that “deal of a lifetime”.  Thinking that prices will drop in the near future is just not realistic and is just flat out not true.

The fact is that prices of Orlando real estate will continue to rise for quite a long time. Sure you can still try to get a good deal on a house needing to be refurbished, but in that market you’re competing experienced Orlando real estate investors. Re-habbers make their living on buying properties, fixing them up and selling them for a healthy profit. If you think that competition is tough on the retail side of real estate, try competing with local investors. The wholesale market is just as competitive if not more than buying an Orlando home that is move-in ready.

 

Orlando homeowners are staying put

For homeowners who were on the fence about selling but really don’t want to, have reconsidered and have decided to remain in their home. They see what’s going on in the Orlando Real estate market and they are loving it.  There seems to never be a time when both buyers and sellers are pleased with whatever the market is doing. Sellers will always want top dollar for their home and buyers will always want to get a fantastic deal on a great property.  Let’s face it, Who in their right mind would sell right now if they didn’t have to?

 

Jenny Zamora, Lic Orlando Real Estate Broker

 

Jenny Zamora Broker

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The days of Low Ball Offers on Orlando Real Estate are Long Gone!

Buyers are realizing that they have to Pay the Price if they want a quality Orlando Property

Orlando Homebuyers have had the upper hand since 2006, but today’s reality tells quite a different story, sellers are back in the drivers seat. Prices of Orlando Realty have been rising steadily much like many other parts of Florida and inventory is way down.

The problem with some Potential buyers is that they have trouble accepting the market has changed and they continually miss out on good deals because they bid too low. These days you have to go above the asking price to get taken seriously, and even then you might not get the house you’re after.

Some buyers come into my office thinking that the Orlando Real Estate market is the same as it was in 2008 and 2009 when sellers were desperate to sell their homes. Sellers are no longer desperate and they know that they now have the upper hand. The days of submitting low ball offers are over.

A typical Orlando Seller considers a low ball offer to be anything below 90% of full asking price while on the other hand Buyers feel that offering 80-85% is a reasonable offer.

Orlando Buyers are starting to get the “Big Picture”.

Some people are the type to stick to their guns even if they’re wrong about something, however the majority of Orlando property buyers are starting to realize that if they want to get their hands on a quality piece of Orlando Realty, then they have to pay the price.

 

Jenny Zamora Broker

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Butterfly Destroys the Roof on an Orlando Property! Would Your Homeowners Policy cover This?

Orlando Homeowners Insurance Policies are getting cut left and right

Citizens Insurance is a Non-Profit state-run insurance company started in 2002 because of the fact that private insurance companies were leaving Florida due to the risk of hurricanes.
It used to be that when nobody else would cover your Orlando home or business, you could always go to citizens for a policy.  So when citizens sent out a letter to their policy holders late last year informing them that they would no longer be covering carports, screen rooms, patios, pool cages or awnings- expensive items to get fixed – many people were alarmed…Including me.
Even Florida based home insurance companies that we thought were Florida’s future are selectively cancelling policies in higher risk zip codes.

Here are the hard facts

  • State Farm is planning on cancelling 125,000 Home owners policies in addition to the policies they’ve already cancelled
  • Nationwide is dropping an additional 60,000 home owners policies
  • The number of people that report  that Homeowners insurance is too expensive is increasing by the day.
  • Newly formed home insurance companies just can’t keep up with all the policies being cancelled by the larger companies
  • It’s harder than ever for Floridians to find quality Homeowners Insurance at a reasonable rate.
  • Both Citizens and the Florida Hurricane catastrophe fund have reported their concerns about not having the cash needed to pay for a major Florida Hurricane.

Get involved Floridians!
As tax payers and voters, we can make a difference by getting involved. Let’s keep the pressure on the Florida legislative representative to make something happen that would bring more Insurance companies to Florida and keep are rates affordable.

Let  your FL Legislator know how you feel!

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