The Ways it Pays to Work with an Orlando Realtor


Are you thinking about buying or selling an Orlando home on your own so you can try to save yourself a few thousand dollars? If so, then this post is for you…

Go SOLO or hire an Orlando Realtor?

Some people believe that it’s no big deal to buy or sell a house on your own. They think it’s a pretty basic process to buy or sell a home in Orlando when in reality, there’s a whole list of things that need to happen throughout the process… for both buyers and sellers.

Here’s a checklist of the things your Orlando Realtor will help you with throughout the buying or selling process.

  • Determine how much you can afford to pay for a home.
  • Help check your credit report.
  • Price your existing home with a market expert.
  • Put existing house on market and decide where to advertise to reach best potential buyers.
  • Schedule appointments to show current home or to see new ones.
  • Host open houses to sell your existing home.
  • Find a new home for you with all the features you want.
  • Investigate school system as well as research neighborhoods and local amenities.
  • Analyze comparable home sales before making an offer on new home.
  • Meet home and pest inspectors for review of your current home.
  • Negotiate the terms of sale or purchase, including repairs or concessions.
  • Help you choose mortgage lender.
  • Help you obtain title insurance.
  • Help you obtain homeowners’ insurance.
  • Review your HUD [Closing Disclosure] statement and approve closing costs.
  • Coordinate your closing with lender and title company.
  • Conduct final walk-throughs with you of the home.
  • Review and sign closing documents.
  • Review homeowners’ association documents for new home.
  • Consider offers for current home.
  • Order the title search.
  • Get the signed contract to the seller.
  • Hire attorney or title company to complete closing research.
  • Hire surveyor to do a survey if needed.

Hiring an Orlando Realtor

I’m sure most of you who were going to sell on your own have probably changed your mind after reading this post. If you haven’t, then at least you’ll know what to expect moving forward with the process. If you aren’t sure and would like to speak to an Orlando Real Estate Broker, please don’t hesitate to call or text me at 407-902-7750. Or just visit us at
https://orlandorealtyconsultants.com/

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Foreclosures in Orlando on the Rise… Again


Residential foreclosures in Orlando increased by sixty percent in the first quarter of 2019 when compared to the year before. What’s crazy is that foreclosures are decreasing in most of the US.

In the first quarter of 2019 banks foreclosed on a whopping 2,049 homes throughout Orange, Osceola, Seminole, and Lake counties. That’s a staggering increase when you compare it to the number of foreclosures in the first quarter of 2018 which was only 1,280.

Foreclosures were on a steep decline since the market crash of 2009 when plunging home prices made it very hard for homeowners to cover their mortgage payments. In the worst part of the housing crisis, over twenty thousand homes went into foreclosure every quarter. However, since 2015 -2016 Orlando foreclosures were seen less and less.

I believe that it was a perfect storm of skyrocketing home prices combined with Orlando’s lower-than-average wages that hurt the Orlando real estate market. Even more so than other major US cities.

Nationwide, foreclosures dropped by 15% year after year and are currently at their lowest level since 2008. In Orlando, home prices have experienced an increase of over 7% per year since 2014 according to the data from the Orlando Realtor Association.

The rising home prices make it easier for people to avoid foreclosure since Orlando homeowners can sell for enough to satisfy their mortgages.

As an Orlando real estate broker, I always try to stay in tune with what’s happening in my area. Although foreclosures in Orlando are on a steady rise, I don’t think we’re anywhere near the next crash.

There are still many homeowners who bought a decade ago and are currently upside down with their mortgage. However, with rising rent prices they’re better off to continue paying the mortgage… even if they owe more than the home is worth.

Interest rates remain low as well, as the average rate in March was just 4.2 % according to the Orlando Realtor Association.

The mortgage industry today is much different than it was in the early 2000s. Lender guidelines are much tougher and the popular “jumbo loans” are much harder to get approved for as well.

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The Difference between a Short Sale and a Foreclosure


Short Sales and Foreclosures are Very Different Situations

Most people who have never been through a short sale or a foreclosure, think it’s the same thing. Although short sales and foreclosures have a few things in common, they are both very different scenarios… especially when you’re the homeowner going through it. Doing a short sale will always be better than letting your house go to foreclosure just to avoid the damage to your credit among other benefits.

What’s a Short Sale?

A short sale occurs when a homeowner can no longer afford to make the mortgage payments to their Bank, and they have to sell the home for less than what’s owed. Many times, homeowners are already in active foreclosure when they decide to try and short sale the property. The homeowner must also prove to the lender they’re going through some kind of hardship affecting their ability to pay.

Even if the homeowner meets all the criteria of a typical short sale, it must still have the final approval of the lender. The majority of lenders will opt for a short sale instead of taking a homeowner through a costly foreclosure process.

Benefits of a Short Sale

Avoid Foreclosure- A foreclosure can damage your credit for up to 7 years whereas a short sale will have much less of an impact.

Eliminate your Debt- Eliminate your debt with the bank for good. Be sure that your short sale realtor tells the bank that you’re not able or willing to repay the entire amount of the deficiency.

Cash Back to Sellers Many banks offer cash-back programs so they have money to relocate to another home.

Why would my Bank agree to a Short Sale?

Banks don’t make their money by foreclosing on homes. They lose money… taking a mortgage holder through a foreclosure takes is expensive and can take a long time. Lenders also realize that if they do foreclose on the house, they’re just going to have to list it and end up taking a loss anyway.

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10 Reasons To List With An Orlando Realtor


Top 10 Reasons To List With An Orlando Realtor

A Realtor saves you time-

Orlando Realtors have the time and knowledge to handle negotiations, showings, open houses, and inspections. These tasks along with the dozens of other things they have to do to sell a home would take up a lot of your time. Finding a good realtor is like finding a good Doctor and once you establish a good relationship, they’ll probably be your agent for a long time.

Real estate marketing experts-

A good Realtor knows the best ways to market your home to attract qualified buyers. Also, if they work for a major brokerage, they can leverage the online presence of that brokerage as well as utilize all the other agents in their office.

Sell for a higher price-

Homeowners who elect to try and sell their home [for sale by owner] usually make several thousand less than homeowners who hired an Orlando realtor. An experienced Orlando listing agent can put their power of negotiation to you.

Access to a buyers list-

An experienced Realtor should have access to a large buyer pool. By utilizing the MLS, other agents, as well as their database of prospective buyers a Realtor, can market your home to the widest range of customers possible.

Great sales skills-

A good Realtor will evaluate your property and give you suggestions on how to make improvements to get the highest dollar amount for your Orlando home. They are also very skilled at showings to create a positive response.

Skilled negotiators-

Being a good negotiator is a must when welling your home for top dollar. A good Realtor should possess an expert understanding of the Orlando real estate market in addition to being able to get you the price and terms you want.

Handling paperwork-

Selling a house involves tons of paperwork which can be difficult to understand. Top Realtors in Orlando thrive in this world and are used to reviewing any real estate-related documents.

Database of service providers-

An Orlando Realtor should possess a network of quality mortgage brokers, inspectors, contractors, and even lawyers to make sure your transaction runs as smoothly as possible from beginning to end.

Neighborhood knowledge-

Your local Realtor should know your neighborhood like the back of their hand. By the time your home is sold, you could already have a replacement home in a great community of your choosing.

Follow up advice after closing-

An experienced Orlando Realtor will continue to help you out with any questions or concerns you might have even after the deal is done.

Top Orlando Realtors

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Should I Stage My Orlando Home Before Selling?


Is it Worth the Hassle to Stage My Orlando Home?

Shakespeare once said that “all the world’s a stage”… this also includes the house you want to sell for top dollar.  As a Realtor in Orlando, I can’t tell you enough how much of a difference it can make to set the stage before revealing your home to the world.

Unless you’re an interior designer, staging a home is not a do-it-yourself type of task. Staging involves hiring professionals with talent and skillsets for interior design. A good stager will give your house a makeover that will make you think twice about selling. By using temporary furnishings and décor, your house will get more than its share of “oohs… and aahs…” from potential buyers doing their walk-through.

Quality staging is not like an insurance policy by any means and there’s no guarantee that your home will sell for more money because of it. However, It is a great and powerful marketing tool. Great staging should present your home in its most flattering light and will keep you at the higher end of the comps in your area. Have you ever heard of the saying “dress for the job you want, not the one you have”? When selling a house… when want it to be dressed to the 9’s to get the price you want.

Staging helps potential buyers to visualize what their life could look like living in such an elegantly decorated home.

Staging Leads to Great Listing Photos

Great photography is a must when marketing your home for sale. By having pics of a staged home instead of an empty or messy home, you’ll increase your chances of finding an online buyer 10 fold. Especially these days the majority of home buyers start their search by looking through online listings before hiring a Realtor in Orlando, FL.

Before Hiring Stagers Consider This

In addition to being Realtors, we are also Orlando real estate investors, we’ve bought and rehabbed many houses over the years. I can tell you from my own experience that staging does help. Like… a lot. There’s always one or two buyers that ask if they can also purchase the furniture and decorations.

But don’t just take our word for it. Recently, a survey from the NATIONAL ASSOCIATION OF REALTORS® revealed that:

Almost 80% of buyers’ agents claimed staging makes it easy for the buyer to imagine the property as their future home. It’s kind of like helping the buyer to dream it to achieve it so your real estate agent can make the sale.

40% of Orlando listing agents say that a staged home spends a lot less time on the market compared to an empty house. For you the seller, time saved could mean more money in your pocket and being able to move out sooner. Listing agents also claimed that staged homes will fetch a higher dollar amount… between 6-10%!

Some listing agents in Orlando will offer staging services to their clients but most of the time you’ll have to hire someone and pay for the staging yourself.

Professional home stagers will usually charge according to how many rooms you want staging. We pay roughly $700 per month when we stage a 3 bedroom 2 bathroom house which includes everything from the furniture to décor.

What about staging the house yourself?

If you’re on a tight budget, then hiring a professional may not be an option for you. If this is the case, check out some Youtube video tutorials on the subject to help guide you. If you have a friend or relative with really nice décor in their house, you may want to ask them for some staging ideas.

Declutter and clean at the very least

No potential buyer is going to enjoy walking through a messy or dirty house. Take the time to declutter and clean it like it’s never been cleaned before. Move some furniture into the garage if you have to, organize household items out of sight, and remove anything that makes a room look smaller. You should also change out any burnt light bulbs and have the carpets shampooed.

Keep the closets neat and organized

Make sure they can see the space, buyers always want to check out the closets. Remove some things if you need to rather than having that “stuffed full” look. Consider putting away personal items like family photos, religious pieces, and maybe some artwork to make the house look more neutral.

Only focus on rooms that count the most

You don’t have to stage your whole house to impress buyers. We find that staging rooms where people spend the most time will make the biggest impression on buyers. Staging the kitchen, Living room, Dining room, bathrooms, and Master bedroom is more than enough to make a buyer take notice.

Don’t forget to stage your yard

Curb appeal is super important for getting potential buyers through the front door. Make sure your yard looks the best it can. A freshly cut yard, manicured bushes, and some colorful plants can make a huge impact on buyers and set the stage for what the inside looks like.

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