Category: News and Information

Orlando Homeowners Beware of These Buyers!

Posted on by Jenny Zamora

If you’re currently selling your Orlando home, you should be aware of the different types of buyers you can expect to be dealing with. An experienced Orlando listing agent can be extremely valuable to you in detecting what buyers are for real and worth negotiating with and which ones are just out to waste your time and stress you out. Buyers will typically fall into one of the following categories listed below.

Dream home buyers

These are buyers that are looking for their dream home with plans of living there for the rest of their lives. These buyers are more concerned with the quality of the schools in the area, the crime rate, and neighborhood amenities rather than the price. Dream home buyers have no problem paying full price but the home must be move-in ready and the neighborhood must meet their family’s needs.

 Fair price buyers

This category of buyers isn’t concerned with finding a home to raise a family because they are either single or married with no kids and may even be retired. With no kids to worry about, they don’t care about good schools or youth sports programs. No… these buyers are just looking for a good deal on a great home. A few minor repairs aren’t usually a deal killer as long as the price makes sense. They won’t pay full price but they will pay a fair price.

Bargain hunters

Bargain hunters are usually investors looking for their next re-hab project to either flip or rent out. If your home is in decent shape and is priced accurately, you probably won’t even be approached by any investors. Bargain hunters typically target fixer-uppers because they know that’s usually where the best deals can be found.

Buyers with contingencies

Sometimes you will encounter a buyer that absolutely loves your house and wants to give you the full asking amount, there’s only one catch… They have to sell their house first before they can afford to buy your house. Your first reaction may be to immediately dismiss this buyer as being a waste of your time, but wait… this may be your buyer.

As an Orlando Realtor, I’ve been able to make several of these deals go through. It’s perfectly fine to accept an offer like this as long as there’s a “kick-out-clause” in the contract. This clause allows the seller to continue to keep the house on the market while the buyer sells theirs. If the seller receives another offer that they would like to accept, they just have to inform the original buyer. Then the original buyer would have a period of time [usually 3 days] to either close on the property or cancel the contract.

Bully Buyers

This type of buyer will find something wrong with your house before they even get out of their car.  They will immediately start picking the house apart by claiming that everything is wrong and needs to be fixed even when it really doesn’t. Bully buyers use this technique with the intention of beating you up on the price and are an absolute nightmare to deal with. My suggestion is to stay clear of this type of buyer, you’ll be glad you did.

Phantom Buyers

Sometimes you may encounter a buyer who claims to live out of state, but they want to buy you house just from seeing the photos. Although this may be true sometimes, it can also mean that the buyer just wants to tie your house up so they can buy some time and look for an exit strategy. Don’t even consider an offer like this unless you’re able to collect a substantial and non-refundable deposit from them.  

As you can see from this article, there are many things to be aware of when dealing with potential buyers for your house. Selling a home will be one of the most important decisions of your lifetime. If you need help or just some friendly advice about buying or selling a home in Orlando, feel free to call me at 407-902-7750. I’m happy to help!

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

7 Tips For Moving In The Summer

Posted on by Jenny Zamora

Summer is by far the busiest season for buying and selling Orlando real estate. With school being out, real estate agents in Orlando get extremely busy with both buyers and sellers wanting to make the move before the beginning of the school year which leaves them with a pretty small window to get the job done.

Preparing For The Big Move

These are 7 things you should to make moving as painless as possible.

1- Decide whether you should do it yourself or hire a company. If you’re like me you will hire a company to do the heavy lifting. Saving a few hundred bucks by doing it yourself just isn’t worth risking a lower back or some other injury because you lifted a heavy piece of furniture the wrong way.

You can still save money by packing and moving the smaller items yourself and leaving the heavy stuff for the movers. Get a few quotes from local companies and research their reputation before deciding on one.

2- Be as organized as possible when packing, this will make unpacking a lot easier and less stressful. Pack similar items together and if you already know how you want to decorate your new house, you may want to separate your items by assigning and labeling the boxes according to the rooms they will end up in.

3- Plan ahead when possible. If you have a few weeks to move, start your packing early. By chipping away at it little by little not only will you be ahead of the game but it’s a lot less stressful this way. This will also give you plenty of time to decide what to donate, throw away or sell. The more stuff you get rid of the less you’ll have to move.

4- Get the family involved. If your kids are old enough to help, put them to work. You can start by having them pack their own stuff and label the boxes. However, if your kids are too young to be involved then it’s probably a good idea to arrange for a babysitter on moving day. Having little kids running around when large pieces of furniture are being moved is never a good idea and can be very distracting.

5- Make arrangements for your pets. Moving can be stressful for pets because all they see is a bunch of people walking in and out and taking everything. They don’t understand what’s happening which can be a traumatizing experience for them. Have them stay at a friend’s house or the kennel for the day.

6- Label and keep track of small parts. Some larger pieces may need to be broken down which means you’ll have a bunch of screws washers and nuts. By labeling them and putting them in small baggies, you’ll avoid losing them in the shuffle. It’s also a good idea to take pictures of certain items so you know how they go back together again.

7- Photograph electronic components. Hooking up entertainment systems, DVR’s and televisions can be frustrating and confusing if you don’t remember how to hook everything back up. Before you unplug anything, take pictures of all the connections and label them with masking tape. This will eliminate a lot of headaches when it’s time to put everything back together at the new house.

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

5 Tips For Buying An Orlando Foreclosure

Posted on by Jenny Zamora

By buying an Orlando foreclosure property aka REO [real estate owned] property, home shoppers can potentially get the deal of a lifetime.

Lenders that have taken a property back after going through the foreclosure process are often eager to unload these properties and are willing to take a significant loss to do so. It’s important to know that buying a foreclosure home works a bit differently than buying a home through a traditional listing.

The following are some things that home shoppers should consider before making an offer on a foreclosure property.

1- Buying “As-Is”

Distressed homeowners that are about to be foreclosed on are sometimes disgruntled with the bank and feel like they want revenge against the bank. They may even strip the home of anything of value like the central AC unit, appliances, fixtures, etc. In my experience as a realtor in Orlando, I’ve seen foreclosure properties that have been vandalized to the point where the homeowner has destroyed windows, and walls and even filled the toilets with cement!

However, if the price is right, don’t let these things discourage you. Anything can be fixed or replaced. Before making your offer, find out how much a contractor would charge to make the necessary repairs.

2- Know What You’re Up Against

When you buy a home from a homeowner through a traditional listing, you’ll probably get some helpful advice about the home like a loose door handle or leaky faucet that needs replacing. However, with a foreclosure property the homeowners won’t be around to give you any advice or history about the home. The lender that now owns the property won’t be able to provide you with this type of information because they’re not familiar with the home.

That’s why it’s so important to have a thorough inspection done on the home or you could end up with a money pit on your hands.

3- Don’t Low Ball The Bank

While it is true that you can get a heck of a deal buying a foreclosure property, don’t think that the lender will accept any offer that you submit to them. As opposed to individual homeowners, lenders can afford to keep the property until they feel that the price is right to sell it. The best practice is to get an estimate for all the necessary repairs and make your offer based on other comparable properties minus the cost of repairs. This number should get you into the ballpark.

If you choose to send in a low ball offer to the bank, they may not even consider your offer and you could end up losing the deal.

4- Be Patient

Buying an REO property usually takes a lot more time than buying a home the traditional way from a homeowner. These lenders have thousands of foreclosure homes to deal with which means it takes quite a bit longer to get around to looking at your offer and deciding whether to accept it or not. If you want to be in the foreclosure buying market, patience is not a virtue, it’s a necessity.

5- Hire An Orlando Realtor Buy A home in Orlando, FL

Lenders have procedures and systems set up specifically for selling foreclosure properties in Orlando. This can make inexperienced home shoppers feel like fish out of water. That’s why it’s crucial to enlist the help of an experienced Orlando Realtor to help you on your quest to buy a foreclosure at a great price. If you rely on the listing agent that was hired by the bank to help you with everything, you may be setting yourself up for disappointment.  

The agent that was hired by the lender is probably dealing with dozens of foreclosure properties at the same time which means that you won’t get the attention that you deserve. By working with a top Orlando Realtor, you can have the confidence of knowing that you’re in good hands and you won’t have to worry about having to contact the listing agent about anything.

Your Orlando realtor will also be able to provide you with a list of recommended home inspectors and contractors in the area so you don’t have to spend your time researching them yourself.

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

8 Things Not To Do When Selling Your Orlando Home

Posted on by Jenny Zamora

If want to sell your Orlando home fast for top dollar, there are many things to consider before putting it on the market. Working with sellers and buyers as an Orlando real estate agent since 2005, I’ve experienced firsthand what works and what could cost you the sale. These days home shoppers expect to get a good deal no matter what market conditions are. Here is a list of common mistakes made by homeowners when trying to sell their Orlando home

1- I’ll price my home high then lower it gradually until it sells.

I see this mistake all the time with Orlando homes listed on the MLS. For some reason, some homeowners have a tendency to believe that their home is somehow worth more than every other home in the neighborhood and then the price is higher than all the others.

By pricing it higher you’re missing out on buyers looking for homes in the price range where your home should be. The end result is that the home takes much longer to sell and ends up selling at the price that it should have been listed at in the first place… or even lower.

Your Orlando realtor should provide you with a comparative market analysis [CMA]. This is a report that shows you all of the comparable homes in the neighborhood that are for sale or have been sold. Use the CMA to help you determine what price to list your home for.

2- Whoever buys my house can worry about the minor repairs.

Home shoppers are looking for a deal and they will look for any excuse to try to discount the price. Some buyers won’t even submit an offer if the home needs repairs, no matter how minor they may seem to you. Fix anything that needs to be fixed, including the small things that you may think, are no big deal.

3- Curb appeal is no big deal, wait until they see the inside!

Big mistake!…and guess what? Most buyers won’t even bother to go inside your house if it looks run down on the outside. Trim the trees, cut the grass, touch up the paint and plant a few flowers by the entrance. You only get one shot to impress them as they drive up, don’t blow it!

4- I have to do some serious upgrading to get my house sold.

Don’t make any major improvements to your home for the sole purpose of getting it sold. Homeowners sometimes make the mistake of thinking that if they do major upgrades like building a pool or adding a bedroom that they will automatically get a return on their investment. Not true, especially if your house is the only one in the neighborhood with a pool because there won’t be any comparable properties to yours to justify the significant increase in price that you’re looking for.

5- Buyers aren’t swayed by small incentives

What you may consider being no big deal might be a huge deal in the eyes of an interested buyer. Believe it or not, offering something as simple as a 1 year home warranty that only costs a few hundred bucks could be the difference between the buyer submitting an offer or not. Speak to your Orlando real estate agent about what incentives you can offer to sweeten the deal.

6- By not hiring an Orlando real estate agent, I can save money by selling on my own

Selling a home will be one of the biggest decisions of your lifetime. You can lose valuable time and money by not enlisting the help of an experienced real estate agent. Real estate agents will not only take care of marketing your home and reviewing offers, but they will walk you through the home selling process from the beginning all the way to the closing of the transaction.

Most homeowners that start out by trying to sell their home on their own ultimately end up hiring a listing agent after they get little or no results.

7- I want to be there for all showings because no one knows my house better than me

Don’t do this! Let your real estate agent do what you hired them to do…sell your house. Buyers can sometimes feel uncomfortable when the homeowners are present and this prevents them from visualizing the home as if it were theirs. Try making it a point to not be there when your house is being shown. This will allow the potential buyers to move throughout the home freely while envisioning it as their own.

8- It’s my way or the highway!

Don’t approach the sale of your home as if the buyer were your enemy. Remember, the goal here is to get sell your house so be open to some negotiating. Again… let your Orlando realtor do their job by handling the negotiations. Never try negotiating directly with the buyer as emotions and opinions will certainly get in the way of what both of you are trying to accomplish… to sell a house and buy a house.

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

Home Ownership, Are You Ready For It?

Posted on by Jenny Zamora

Most of us were brought up to believe that owning a home is much better than renting and sometimes this is a true statement. However, many people overlook all of the additional costs and responsibilities that come with homeownership. Potential buyers can forget that there’s usually a hefty down payment involved with purchasing…and that’s just the start of it. What about homeowners insurance, property taxes, maintenance, HOA fees, etc?

Once you own the home, the days of calling the landlord to fix something are over!… Welcome to homeownership. You are now officially responsible for anything and everything that can go wrong with your house. From a malfunctioning water heater to broken garbage disposal, these things are now your problem. Hopefully, the house you bought isn’t that old so you have a while before having to replace the roof or the central AC unit. [I just replaced my Central AC last week to the tune of $4,300.00]

Don’t get me wrong, I’m not trying to scare you from wanting to buy a home. After all, I’m an Orlando real estate agent that makes a living from buying and selling houses. However, I don’t like to see people get into a situation without realizing exactly what they’re getting into. That to me is more important than making a quick commission.

Here are some things to think about to help you determine if you can really afford to buy a home.

1- Figure out how big [or small] a home will work for you and what neighborhood you’d like to live in and how much it will cost. Your Orlando Realtor will be happy to provide this information for you by giving you a list of homes for sale that meet your criteria.

2- Speak to a lender or mortgage broker to see how much of a mortgage you can afford. Find out what different loan types you qualify for and compare interest rates, down payment requirements, etc. A good mortgage broker will be able to give you a breakdown of all the costs involved with a home purchase including the closing costs, points to the lender, taxes, recording fees, inspections, title insurance, etc.

Once you’ve figured out how much of a mortgage you can realistically afford, compare that to the list of homes provided by your real estate agent. If the numbers don’t match, you may have to adjust your criteria.

3- Don’t forget moving expenses. Whether you hire a professional moving company or you decide to rent a truck and do it yourself, it’s going to cost you some money. The more things you have, the more money it will cost you.

4- Budget for the unexpected. Actually, you CAN expect things to break down because they will…it’s just a matter of when. Make sure that you’re able to set some money aside for these repairs, especially if you buy an older home. As an Orlando real estate investor I’m pretty familiar with spending money on home repairs. The most expensive repairs that you will be faced with will be replacing the roof, the AC, electrical system, plumbing system, and foundation problems. If you do decide to purchase, have these items inspected before purchasing.

5- Job security. Buying a home means that you’re signing up to be responsible for that mortgage payment for the next fifteen to thirty years [probably 30]. Make sure that you’re choosing a home and an area where you can see yourself living there for many years to come. Even if you were to lose your job. Are you in an area where you can easily find other employment?

This is one of the reasons that renting is so popular with the younger generations. The commitment is minimal, you don’t have to worry about selling, you don’t have to worry about getting foreclosed on, and if you want to move for a better job or any other reason, you can just get up and go.

No one enjoys asking themselves some of these questions but when you’re considering such a big commitment, you must. Owning a home is serious business and the last thing you want is to set yourself up for failure.

Are you considering buying a home in Orlando? Be sure to visit us at https://orlandorealtyconsultants.com/ to speak to one of our buyer’s agents

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields