Category: News and Information

The 9 Top Reasons Why Some Orlando Homes Sell Faster

Posted on by Jenny Zamora

1- Curb Appeal

Believe it or not, curb appeal is the #1 factor that affects the time a home is on the market. By making your home look its best from the street, you are off to a good start.

 2- Good School Districts

Studies show that homes in good school districts sell faster and at a premium than homes located in less desirable school districts. When Orlando Realtors were surveyed, they said that 1 in 5 people would pay up to 10% over their budget to be in the right school district.

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 3- Move-in ready

Orlando homes that are move-in ready sell 12% faster than homes that need some work or are needing appliances. The less you give a potential buyer to complain about, the better off you are.

 4- Great photography

Orlando homes that are marketed with professional photos sell much faster than pictures taken with your smartphone. Using wide-angle lenses will also make rooms look larger and show better in print as well as online marketing.

 5- Staging makes a huge difference!

Homes that are staged spend an average of 73% less time on the market than homes that aren’t staged.

 6-Video Marketing

Using virtual tours and Youtube videos to market a home will get it sold 20% faster than when no video marketing has been done.

 

7- Upgrades

Homes with upgrades such as quartz, granite, custom cabinets, stainless appliances, high end light fixtures, tankless water heater, etc. sell anywhere from 34 to 61 days faster than homes with n om upgrades.

 

8- Pricing it Correctly

Pricing a home correctly from the start will probably sell in less than 2 months. Overpricing can cause your home to sit for 6 months or more.

 

Choosing The Right Realtor for the job

9- This should probably be #1 on the list. Working with an Orlando Listing Specialist will get your home sold up to 40% faster than with a new agent.

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Orlando Short Sales… Know The Rules!

Posted on by Jenny Zamora

Don’t let the name fool you, Orlando short sales take a long time! The reason being is that a short sale means that the bank loses money so you can’t blame them for not being in a rush. This can however be helpful to the homeowner by allowing them time to get their house sold and avoiding foreclosure. If a lender approves a short sale on a home, it means that they are allowing the homeowner to sell their home for less than what’s owed on the mortgage.

Recently, the United States Treasury Department changed the rules to make the short sale process easier and more efficient. Usually, the short sale process will drag on for several months and even up to a year in some cases. And even then there was no guarantee that the lender would agree to a short sale. That’s why there are so few Orlando short-sale realtors willing to specialize in this area of real estate.

Some short-sale agents remain skeptical and think that nothing will change. Orlando short sale specialist Jenny Zamora, Broker at Orlando Realty Consultants “I will be the first to shout from the rooftops if the short sale process becomes faster than what it is”.

These are some of the changes that are being put in place:

  • Potential buyers must submit a pre-approval letter from a lender together with their offer on the home.
  • Lenders have to either approve or deny a short sale offer within ten business days.
  • To protect the homeowner from being forced out, the short sale lender must give a 45 day closing period unless the seller agrees to a lesser amount of time.
  • If someone buys a house via short sale, they cannot sell it for at least 90 days. This scenario is fine for someone planning to live in the home but it presents a problem for investors looking to do a quick flip.
  • Orlando short sales done through the HAFA program [Home Affordable Alternatives Program] can’t be sold to a friend or relative or business partner of the seller.
  • A maximum of $3,000 can go to holders of junior liens to release a lien on their property
  • A lender may not foreclose while the house is being marketed for sale during the short sale process.
  • Lenders may no longer charge fees to borrowers who wish to pursue a short sale instead of a foreclosure.
  • Lenders may no longer lower realtor commissions after an offer has been received.

Jenny Zamora, Orlando Realtor, and short sale specialist are overall happy with the changes although she is doubtful these changes will increase her already outstanding turnaround time of 30-45 days to complete a short sale.

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Should You Become An Orlando Realtor?

Posted on by Jenny Zamora

Like the hometown carnival that comes around once a year, the Orlando real estate profession attracts a large variety of personalities from all over the world. Quite often people are attracted to the real estate industry because they like the idea of depositing fat commission checks and being their own boss.

They get blinded by billboards and bus stop benches of Orlando Real Estate agents who appear to be doing financially great! …and if they have the marketing budget to appear on benches and billboards throughout your town, then they probably are…but you can bet that it’s taken them a lot of time and hard work to get there.

Some people believe that once they’ve passed the state exam, buyers and sellers will start falling into their laps and they’ll be instantly busy, then rich… or you have the people who get their license to work only part-time as an agent and think it will be a fun and easy way to supplement their income from their other part-time job.

People seldom realize the amount of time, money, and dedication they have to put in to be a successful Orlando Realtor. The fact is that it takes a lot of work to be successful in the real estate business.

If you’re a successful Realtor, investor, landlord, or even property manager, it’s because you’ve put in a lot of time and effort to become an expert in your particular niche of the real estate industry.

Most people who succeed in real estate do so because they actually care about helping their clients to achieve their real estate goals than just making a quick commission. The real estate business is about building strong relationships with people both in and out of the industry. This may sound like a cliché but you have to live, breath, eat and sleep real estate if you want to be successful at it.

If you still believe you have what it takes to become a successful real estate agent after reading this article, then this may be a good career choice. However, if you still think that you have an easy road ahead of you to become a superstar agent, you may want to do some more research and maybe even talk with a few realtors and ask them how it’s going before you spend the time and money to start studying for your license.

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The True Cost of Homeownership In Orlando

Posted on by Jenny Zamora

Your mortgage payment is just the beginning

You finally did it! After looking at dozens of homes with our Orlando Realtor, you’ve traded in renting for owning. So what now? If you haven’t found out yet, you may be surprised that there are a lot more expenses involved with owning a home than you thought. The nice thing about renting is that the expense of maintaining a property is the responsibility of the landlord.

Now that you’re the homeowner, these expenses become your responsibility. Homeowner association dues, property taxes, insurance, repairs, and maintenance are now yours forever and ever until death do you part….or until you sell. It’s a good idea to consult with your Orlando Real Estate Agent so that you have an idea of what expenses you will be responsible for.

Here’s a breakdown of expenses you should expect to face as a new homeowner starting from the day you close.

Closing Costs

Although these fees are usually shared by both buyer and seller they can still add up to thousands for each party. Buyers will typically try to include these costs with their loan so they don’t have to come up with the cash at the closing.

Property Tax

There’s no escaping Uncle Sam…property taxes are the main source of income for counties and school districts. In Orange County, FL an average of 0.97% of the property’s assessed value is collected. Property taxes are typically included with the loan payment but may sometimes be paid separately. It’s important to know how much you will pay in property taxes to avoid being sent into shock when you receive a property tax bill you weren’t expecting or prepared for.

Private Mortgage Insurance

If you paid less than 20% of the purchase price as a down payment, you’ll have to buy private mortgage insurance aka PMI. This type of insurance helps homeowners to buy a home with a smaller down payment. It protects the lender in case the new homeowner defaults on the loan. Once there is sufficient equity in the property PMI can be canceled.

Homeowner’s Insurance

Unless you pay cash for a home, there’s no getting around this one…and that’s not all. Here in Florida, we get hit with Hurricanes and floods which means that you’ll need a supplemental policy for damage caused by natural disasters. And… If you have a lot of jewelry and other expensive items you may want additional protection for them as well.

Maintenance and Repairs

This one’s a doozy!… If you bought a home that’s in need of some major repairs then you pretty much knew what you were getting into. But if you buy a newer home thinking that you’ll never have to spend money on maintenance and repairs think again…If your home is relatively new then you probably have a while before having to do any major work to your home. However, sooner or later you’ll be faced with a major repair like replacing a roof or an AC unit that will cost you several thousands of dollars to replace. It’s best to keep a separate bank account for unexpected home repairs so that you don’t get caught with your pants down.

It’s important to keep your home well maintained because chances are that one day you’ll end up selling it and moving on. In order to sell it for the highest price, it will have to be in good condition.

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New Listing In Orlando | 630 Riomar Ave

Posted on by Jenny Zamora

This is a stunning 2,032 sq ft 3 bedroom, 2 bathroom home complete with bonus room which can easily be used as a spare bedroom or an office. This property is located in the highly sought-after community of Waterford Lakes. It features gorgeous hardwood floors throughout, with ceramic tile in the bathrooms and utility room. Outback there’s a huge fenced-in yard with a porch to enjoy those backyard BBQs. Beautifully trimmed trees and landscaping make the outside of the home as attractive as the inside.

The home has been meticulously maintained by the current Owners since 2005. All Stainless Steel Appliances in the Kitchen look and work like new and are included. The Washer And Dryer in the utility room are also included making it an easy transition for the lucky new Home Owners. The AC unit was replaced in 2010.

Resort Style Living…

This is a Great Buy in a Fantastic Location! Hurry, this home won’t last long. Call me at 407-902-7750 today to schedule your private showing or visit https://orlandorealtyconsultants.com/

This Community has so Much to Offer!… Amenities include a Community resort-style pool, Tennis courts, racquetball courts, Baseball fields, Soccer fields, jogging and walking trails, Dog Park, and a huge playground for the kids.

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