New Listing In Kissimmee 2769 Green Meadow Circle
Move-in ready! This 3 bedroom 2 bathroom home is located in the 34741
These are some of the great features this home has to offer:
-Formal Living Room
-Formal Dining Room
-Wood Burning Fireplace
-2 Car Garage
-Large Screened-in porch
-Huge Fenced-In Yard
This beautiful home in Kissimmee is priced to sell fast! Don’t wait, make your appointment today! 407-902-7750
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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.
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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
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I remember when real estate in Orlando was booming at an alarming rate back in 2005. Orlando listing agents were able to put up ridiculously high listing prices and people were paying it because they were afraid that by the following week prices would be even higher.
In today’s Orlando real estate market it’s more important than ever to price your home accurately from the start. Have you ever wondered how Orlando real estate agents determine the right asking price for their house? There are many different factors that can help in determining the value of a house although, it’s not, and never will be an exact science.
Everyone knows that supply and demand dictate the asking price of any product, especially real estate. So, if the supply is low the price will be adjusted upward to meet in order to meet it. Basically, it comes down to the sales price of the most recent comparables in the same neighborhood where the home is located in. People can speculate about the market and how much a home is worth until they’re blue in the face but recent sales in the neighborhood are what matters most when it comes down to it.
The appearance of the property, its size, and its location play major roles in coming up with the asking price. Upgraded features can sometimes warrant an upward adjustment in the asking price. However, if you haven’t had any 2nd showings or offers after two weeks or so, then the price is probably a bit high. Depending on what your situation is you can either lower the listing price or stick to your guns for the long haul.
Setting the prices on new homes is a different beast together because the developer is the seller and the better a developer understands the market, the more successful they will be. The builder must first know how much it costs to build the home. The developer offers different models and the prices of the home are then based on type, square feet, features, and lot sizes. After factoring in construction cost and the profit a builder needs to make, a sale price is born!
One of the problems encountered with existing homes is that it was decorated to someone else’s taste. This can sometimes be a plus, but most of the time it isn’t. As an Orlando listing agent, I’ve had to encourage several clients to paint over that burgundy wall or remove the rusty chandelier from the hallway and if needed, I will recommend that the whole inside of the house be painted white or off-white. When you realize what a difference it makes in the eyes of a buyer, it’s well worth it.
The curb appeal and amenities of a home also contribute to determining the price. Homebuyers are out looking for the best deal, so if your house is the best deal out there, then it will sell the fastest. If not, then your home will probably sit o the market for a while.
Need help coming up with a listing price on your home? Feel free to contact one of our Orlando listing specialists for a FREE consultation. we’re here to help!
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Orlando real estate agents are responsible for much more than selling homes in Orlando or helping people to buy a home. Their clients rely on them to help them navigate through the entire process from beginning to end. The end being the closing of the transaction and being able to understand the breakdown of the closing costs.
When a homeowner sells their home they typically assume that after subtracting the real estate commission and the loan payoff amount, that’s what they walk away with. Closing costs never even enter their mind, especially if it’s the seller’s first time selling a home. Then once they get to the closing table it’s a surprise to them,… not a good surprise. Typical closing costs on a real estate transaction usually include property taxes, transfer taxes, mortgage taxes, documentary taxes, recording fees, title insurance, etc.
It’s always a good idea to ask your Orlando real estate agent to provide you with a breakdown of what you can expect to pay in closing costs before you list your home for sale. You should keep this information so that when you receive an offer on your house, you can easily calculate your net profit.
Here in the state of Florida, the buyer and seller will usually share the closing costs 50/50 unless both parties agree to a different arrangement. The Orlando real estate market can also affect the way these fees are assigned. If the current market is hot, the seller will have the upper hand and can require the buyer to pay the lion’s share of the closing costs and sometimes even all of the closing costs. It’s also very common for the buyers to include all of the closing fees in their offer so that they can avoid having to come up with the cash to pay them.
The following are terms and definitions of common closing costs to be paid by the seller:
Escrow fees. In Florida it’s not required to have an attorney involved in the closing of a real estate transaction. Title companies are usually the ones to handle closings and all funds are received and disburse by the title company. The escrow fees, if any, will usually be split by both the buyer and seller.
Title Insurance. Typically there are 2 different types of title insurance that are purchased; the owner’s policy and the lenders’ policy. The title company involved in the transaction will research the title on the property to ensure that there are no additional liens on the property as well as unidentified owners. The purpose of these policies is to protect both the lender as well as the buyer [or new owner] for the full amount of the home. In most cases the buyer is responsible to pay for the lender’s policy and the seller pays for the owners policy. This is known as clearing the title.
Documentary taxes. These taxes are usually paid to the county or state or both. This is where Uncle Sam collects his share of the transaction and is also known as a reconveyance tax.
Recording fees. This fee is paid to the county for recording the deed. This is proof of ownership of the property.
Mortgage taxes. This is an additional tax which is collected by the state of Florida.
Settlement fee. Typically split between the buyer and the seller, this fee is the cost charged by the title company for handling any financial transfers.
Real estate broker’s commission. This the fee or commission that you agreed to pay for the real estate agent to sell your home. The entire amount of the realtor’s commission first goes to the brokerage before getting disbursed to your Orlando listing agent.
The pest inspection. This is usually paid for by the seller and if any pest damage is found, the seller will also have to pay for any damages caused by pests such as termites, ants, etc. Depending on whether the market favors buyers or sellers at the time, these costs are negotiated by both parties. These costs are sometimes paid for before the closing even happens and in this case, will not be part of the closing costs.
The sellers of the property are also responsible for what’s known as “recurring closing costs”. Items such as, mortgage interest on their loan, HOA fees [if applicable] and hazard insurance are all the responsibility of the seller and must be paid up through the actual date of the closing. The buyer will then be responsible for paying these same fees from the closing date forward.
Depending on what was negotiated, items like home warranties, roof repairs and any other credits that the seller agreed to pay for will also be deducted from the seller’s share of the proceeds.
Both sellers and buyers should receive a document referred to as the HUD-1 settlement statement which outlines every single charge in the real estate transaction and who is responsible to pay it.
Still have questions about a closing costs in a real estate transaction? Call me, Jenny Zamora, Orlando listing specialist at 407.902.7750
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