Category: News and Information

You Sold Your Orlando Home, Now What?

Posted on by Jenny Zamora

Congratulations! After months of having strangers walk through your home with your Orlando listing agent, you finally got the offer that you wanted and the closing went off without a hitch. No, it’s just a matter of handing over the keys to the new owner and turning the page on this chapter of your life…or is it? Hold your horses for a minute. There are some things you need to do to avoid any potential problems that may arise from the sale of your house down the line.

1-   Make copies of ALL the paperwork that was related to the closing, especially the docs that you signed. You may be tempted to toss this stuff in the trash to avoid more clutter, don’t do it! Not yet anyway… Once tax season comes around, your accountant will need these papers to document the expenses as well the proceeds of the sale. Even after tax time, you should save these docs somewhere just in case you get audited.

2- If your property was sold via short sale, hopefully, your Orlando short sale realtor was able to get any deficiencies waved and even get you some money back from the bank for relocation costs. Either way, it went down, keep records of these papers as well.

3- Keep a record of improvements and repairs that you’ve made to your home. If you did the work yourself, don’t forget to add the cost of your time. No one is expected to work for free, not even in their own home. The IRS will allow you to factor in what you’ve spent on your home however, you need to supply the receipts on everything you’ve spent on the home in order to use this tax provision.

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4- Keep up with local tax laws. Tax laws are always changing and if you’re aware of them, you can avoid losing money. Recently, a new tax law passed that allows you to….never mind, it just changed. You get the point.

5- Take your time in buying your next home. Depending on what your situation is you should take your time in finding your next home. Make sure that the home and the location that you choose, meet your family’s needs. Many people choose to rent for a few months so that they don’t feel pressured into buying. This also allows them to see if the area they choose is everything they need it to be.

6- Keep your current financial situation in mind. Are you able to downsize? Is there a baby on the way? Did you get a promotion? Did you get a divorce? Be realistic with your situation, selling a home is an opportunity for a new beginning. Don’t start off by buying a house that will be constantly struggling to afford.

7- Think about the Realtor you will hire. Your Orlando listing agent did a great job in getting your house sold. That doesn’t mean that you should hire the same realtor to help you buy, especially if you’re looking to buy in a different area. The best real estate agents specialize in a specific niche or area of the industry.

Real estate agents like myself are listing agents in Orlando. We specialize in getting the highest dollar amount for Orlando homes in the shortest amount of time. Orlando short sale specialists, however, specialize in doing short sales and know everything there is to know about short sales. They also have to stay on top of the latest changes when it comes to the short sale industry. Finally, there are buyer agents. These agents specialize in finding the right home for potential home buyers. Their job is to find you a home based on the criteria that you give them.

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Will Online Search Tools Make Realtors Obsolete?

Posted on by Jenny Zamora

Free online home search tools have completely changed the way that Americans search for a place to call home. In the not-so-distant past, you would have to contact a local real estate agent in the area where you wanted to buy and wait for them to send you a list of homes for sale.

Top real estate brokerages know that providing great customers these days means incorporating the latest home search technology in addition to everything else expected from a real estate professional. That’s why more and more brokerages provide their website visitors with the freedom and power to search the MLS from the comfort of their own homes without having to contact an agent first.

Today people are much more tech-savvy than was the case just 5 or 6 years ago. The average American prefers to research whatever product they’re looking for online without having to speak to a sales rep first, searching for a home is no different.

MLS home search tools allow the user to look for homes based on a wide range of criteria such as price, number of bedrooms, square footage, school zones, etc. with just a few clicks of their mouse.

Most real estate websites will even allow home shoppers to register so that they will receive an email alert whenever a new listing comes on to the market that matches their criteria.

The home search tool has become so popular that buyers will usually start communicating with an agent by providing them with a list of homes they would like to see instead of the other way around.

Trulia and Zillow vs. Local Real Estate Professionals

Nationwide companies like Trulia and Zillow provide MLS access throughout the entire country.  However, many home shoppers prefer to use home search tools through a local real estate professional’s website. The best approach is to use multiple sites for finding homes as some websites are more user-friendly than others in addition to providing valuable information that others may not.

Another advantage to using some of the larger companies like Zillow and Trulia is that they also have “for sale by owner” listings whereas the MLS will only have homes listed by real estate agents. Buyers should be aware that sites like Trulia and Zillow tend to lag behind local MLS integrated sites when new listings are submitted.

Independent brokerage websites that are tied to their local MLS are updated every 10 minutes whereas Trulia and Zillow can sometimes take several hours to update new listings.

Does this mean the end of real estate agents?

Despite all the online resources available directly to the consumer, these days, real estate agents can breathe easy knowing that they still play an essential role in the buying and selling of homes.

Although potential buyers can search for homes in their desired area, the homes they find are all listed with real estate agents, with the exception of a few FSBOs [for sale by owner]. So in order to see the home, they will have to either contact the listing agent of the home they wish to see or enlist the help of a buyer’s agent.

If a potential buyer goes to see a home without the representation of a buyer’s agent and then wishes to submit a contract on that home, then they’ve just hired the listing agent to represent them as well.

Although agents representing both seller and buyer are legally obligated to look out for the best interest of both parties, it’s highly advisable to research and hire your own buyer’s agent to represent you.

Hiring a buyers agent

Once you’ve compiled a list of a few homes that meet your criteria, it’s time to enlist the help of a good buyer’s agent.

It’s important to know that agents which show up next to the listings of sites like Trulia and Zillow are paying to have their ad displayed and are most likely not the best fit for you.

The best way to determine which agent is a good fit for you is to start with some online research. Type in terms like “buyers agents” or “buy a home” into the search bar.

The first page of the search results will provide you with a list of the top agents in the area. You should interview 2 or 3 agents before choosing the one you feel would best meet your needs.

Once you’ve hired a buyer’s agent, establishing an open line of communication is key. In addition to showing you the homes that you found through your own search efforts, your agent should actively be looking for homes that meet your criteria.

The more details you provide, the better chance they will have at finding the perfect home for you. Working together with your agent on the home search will give you the best chance of finding the right home sooner than later.

A good buyer’s agent can make finding your home an easier, less stressful, and even a pleasurable experience. Happy home shopping!

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A Happy Home And A Good Investment

Posted on by Jenny Zamora

Living in a home that is both a good investment and the home you’ve always dreamed of is the ultimate goal for just about every homeowner. If your home is an older home then you probably have to work a bit harder to keep it maintained as opposed to a newer home. If you’re the kind of person that likes to constantly make improvements to your home to maintain or even increase its value. The good news is that the process of increasing the property value of any home isn’t all that difficult. 

Happy Home = Happy Life

People can sense when other people are happy as well as when they’re not happy. If you’re happy in your living space, it tends to be contagious to people that visit your home. Furnish your home with items that fit your taste and interests and no one else’s. Don’t worry so much about what the latest trends in home design if they really don’t appeal to you. If want to change things up a bit and need some ideas, you may want to consult with an interior designer that can work with you on making a few changes that will not only make you happy but also your guests.

 You can also get help from a real estate agent. Experienced realtors can be very helpful when it comes to making recommendations that will add true value to your home. Even if you feel that you will never sell your house, sometimes things change that are beyond your control and if your house’s design is appealing to both you and everyone else, it will be much easier to sell for the highest price.

Use Quality Materials Or Nothing

Whether your home needs a quick facelift or major surgery it’s important that you use quality materials. This is not only about you being happy while you live there but you should also consider that every penny you spend on your home should be an investment. You should make an effort to use designs and materials that increase your home’s value and ensure that your choices will last for generations to come.

Don’t Forget The Exterior
Creating a consistent look between the exterior and the interior of a home is a must. Having a nice front and backyard really enhances the overall feeling of a home and your guests will notice right away. Consider planting a few flowers near the front entrance for a splash of color.

Get Ideas From The Internet

If you don’t really trust your sense of style and you don’t want to spend money on a professional designer then Google it! The internet can be helpful in many ways to a homeowner searching for ideas. You can view countless images of every home design known to man to see what appeals to you and your sense of style.

 Once you have some ideas about how you would like to decorate your home, you don’t even need to leave your chair for the next step. You can do most or even all of your home furnishings shopping online. Great deals are available from private sellers as well as sites like Amazon, eBay, etc. at a fraction of the cost of the major retailers.

 Finding the right design and decor for your property shouldn’t be frustrating or difficult. It should be fun! Especially if you’re creating the look you’ve always dreamed of. If you enjoy the process, it will be easy and rewarding when you’re done. If you need help or ideas on making your home a happy one, call me. I’m here to help!

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10 Best Tips To Sell Your Orlando Home

Posted on by Jenny Zamora

 Sell Your Orlando Home For Top Dollar

If you need to sell your Orlando home for top dollar, then showing your home to buyers is unavoidable. So it’s important to make a good first impression on interested buyers. Here are some tips that I recommend you follow when showing your house to a potential buyer.

 1- Make Them Feel Welcome

As an Orlando real estate agent, I prefer to show houses without the sellers being there, but many times the homeowner insists on being present when other people walk through their home which is completely understandable. If it were me, I’d probably be the same way.

If you want to be there during showings, you should politely greet the potential buyers and invite them to look around. Tell them to take their time and let them know that you’d be happy to answer any questions they may have. Don’t follow them around as they walk through your house! Your presence may make them uncomfortable and restricted. Let the agent give them the 10-cent tour while going read on the patio or walk the dog. This will allow the buyers to communicate freely with their agents and voice any concerns.

 2- Be Flexible With Showings

Bending over backward to make your home available to show at any time will be advantageous to you. Most home buyers are on tight schedules because of work or other commitments. Sometimes I get out-of-state clients that only fly in for a day or two to see houses before flying back so try to be as flexible as possible about scheduling showings. If you still live in the home it’s very important that you be ready for a showing at a few moments’ notice. Some people can only see houses in the evening time and especially on weekends. Being as flexible as possible with showings will give you more opportunities for the right buyer to walk through that door and make an offer.

 3-Room Temperature

Make sure that when a potential buyer walks through that door, they feel comfortable. They don’t want to be cold during winter or hot in the summertime. If they’re not comfortable, they may not spend enough time in your home to decide if it’s an option for them or not. The last thing you want is for a buyer to rush through a showing because they can’t wait to leave.

 4- Keep It Clean

If you’re still living in the home, you should try to keep it showing ready at all times so that you’re never caught off guard. Make sure all clutter is cleaned up, run the vacuum whenever needed, and keep the kitchen and bathrooms spotless at all times. A clean and de-cluttered home appears larger as opposed to a dirty and cluttered home can appear small and uncomfortable. Having scented candles around the house is always a good idea and if you really want to make a good impression, you can bake some cookies and have them on the table. This entices the senses and they will also know that the oven works. lol!

 5-Not Everyone’s An Animal Lover

If you have a pet or pets, the best thing to do is temporarily remove them from your home or at the very least, put them in their crate. Not everyone is an animal lover and you don’t want a nervous animal distracting the buyers or making them uneasy. This will allow buyers to tour the home without any distractions. You should also remove any animal toys, dog bowls, etc.

 6-Let There Be Light

Your home should be well lit regardless of it’s day or night. When we live in a home, we develop habits of only turning on certain lights. The best thing to do is turn on all the lights during a showing. Most potential buyers won’t be drawn to a dimly lit home.

 7-Provide Documents About The Home

If you’ve recently had the AC or the roof replaced, have the warranty paperwork on the table. Did you have it appraised recently? Have that on the table as well. As a matter of fact, you should have any important paperwork regarding your home in plain view. This will make them believe that you have nothing to hide and that you are organized as is your home.

 8- Talk To Your Orlando Realtor

There are always certain things about a home or neighborhood that are not always in plain view. Educate your Orlando listing agent on things that you may want to be pointed out during showings. For example, having great neighbors is always a plus, but a potential buyer won’t know this by just walking through your house. If you have wonderful neighbors and your neighborhood is very family oriented, let them know.
9- Good Curb Appeal

The first thing a buyer will see when the drive up is the outside of your home and it’s your job as the seller to make sure your home looks as good as it can. The goal is for a potential buyer to be eager to see the inside because of how the outside looks. Make sure the lawn and shrubs are always perfectly trimmed and any flower beds are free of weeds. You’d be surprised how a little clean-up and some brightly colored flowers can enhance your curb appeal.

 10-Get Feedback
If you really want to know what they think, then place some comment cards in the home where buyers can openly leave their feedback about your home. The information they provide may help you for the next showing. Either that or it will piss you off [lol!]. If you’re the kind of person that doesn’t like criticism, you may want to skip this step.

If you need to sell your Orlando home and want more tips on how to get your house “showing ready” contact us at 407-902-7750. We’re here to help!

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Orlando HOAs Revealed!

Posted on by Jenny Zamora

Recently, I had a potential buyer call me about moving to Orlando from New Jersey. This particular buyer was interested in the neighborhood of Hunters Creek, FL because he had a young family and he knew that Hunters Creek was voted the 21st best place to live in the U.S. just a couple of years ago. In our first conversation, he says to me “Whatever, you don’t show me any houses where there is a homeowners association”. I can’t say I was surprised to hear this, I hear it all of the time. There’s a lot of bad press about HOAs, especially when it comes to short sales and trying to negotiate with them on discounting the amount owed by a seller, but that’s a different subject altogether.

My first order of business as an Orlando real estate agent was to tell this buyer that every neighborhood in Hunters Creek is governed by an HOA. I then had to educate him on how communities like these put HOAs in place to protect their residents. Imagine if everyone was allowed to paint their house any color they wanted…Yikes!!! or what if residents didn’t have to pick up after their dogs? It would be total Chaos!

I knew that if I was going to keep him as a client I would have to do one of two things; either find him another neighborhood to live in or convince him that not all HOAs are evil. It forced me to do some deep research about HOA’s. See below.

What’s An HOA?

An HOA is an organization in a planned community or condominium that makes and enforces rules for the properties under its jurisdiction. An HOA survives by collecting fees, either monthly or quarterly to pay for the upkeep of the community’s common areas like soccer fields, dog parks, tennis courts, community centers, etc. They also enforce the community rules AKA “the Declaration of Covenants, Conditions, and Restrictions”. If there weren’t a set of rules in place, the neighborhood would be much less appealing. These are the rules that keep your neighbor from painting her house bright purple or parking their RV in the driveway. It’s true that sometimes HOAs can be overly strict in some cases, but it’s always in the best interest of the community.

What Do HOAs Cover?

It depends on what community you’re talking about because every HOA is different. You can find out what any particular HOA covers simply by contacting the one that runs the community that you’re interested in.

Who or What Runs The HOA?

The HOA is run by the Covenants, Conditions & Restrictions AKA the CC&Rs. This will decide how a HOA will function including but not limited to: what’s allowed, what’s not allowed, and how elections and assessments are managed. Typically, there’s a Board of Directors that are unpaid residents of the community that make sure that the community rules and restrictions are followed and enforced. Also, there’s a management company that’s hired to collect fees and schedule maintenance to common grounds like landscapers, park maintenance, etc.

What Happens If You Don’t Pay Your HOA Fees?

The HOA has the right to put a lien on your property for non-payment. If the homeowner doesn’t pay the fees for whatever reason, the HOA can actually have the ability to foreclose on the property. This may be hard to believe but it happens all the time here in Orlando. Even though the mortgage company is in the first position if it goes into foreclosure, the HOA has the right to receive up to one year’s worth of HOA dues under Florida law

Why Do Some HOA Fees Increase?

The short answer is inflation. The fees that you pay to your HOA are based on the budget that was determined for that fiscal year. The budget covers day-to-day operations, field maintenance, pest control, landscaping, etc. Also, there should always be a reserve for any unforeseen events that may come up. If the HOA determines that the fees charged won’t cover the needs of the community, then the fees will increase. 

 

 

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