Category: Orlando Realtors

3 Reasons Why It’s A Great Time To Sell Your Orlando Home

Posted on by Jenny Zamora

With Orlando home prices on the rise and increasing demand, Orlando Real Estate has experienced a stellar 2015 in home sales and it’s not over yet. Projections for 2016 are expected to continue on the same track and may even be better according to many top Orlando real estate agents.

There are 3 major factors that are currently creating this “Perfect Storm” in the world of Orlando real estate.

1- It’s A buyer’s Frenzy! Between Investors, first-time homebuyers, boomerang buyers [people who have lost their previous home to short sale or foreclosure], and traditional buyers, Orlando homes are not lasting very long on the market after the listing hits the MLS.

The amount of people applying for FHA loans, [loans that are backed by the Federal Government] is at an all-time high. These loans are mostly favored by first-time homebuyers because of the down payment assistance. Record low mortgage rates also contribute largely to the record numbers of people applying for home loans in Orlando.

2- Skyrocketing Home Prices. Single-family homes in Orlando as well as condos sold for an average of 11% over the original purchase price in the 1st half of 2015.

We are now seeing the biggest gains in Orlando’s real estate appreciation since 2007. These days it’s not uncommon for a home to sell above the asking price in some Orlando neighborhoods. According to the NAR median sales of existing homes surpassed the previous peak we experienced in 2006 just before the bottom fell out.

3- Limited Inventory. Sellers have a lot less competition right now which forces homebuyers to compete for a limited supply of Orlando homes. Recent distressed property sales [short sales and REO properties] only accounted for less than 7% of all real estate sales in Central Florida. This is the lowest since 2011. Back in 2011, the overall distressed property sales in Central Florida made up almost 50% of the market.

Looking to sell your Orlando Home For Top Dollar?  call or text Jenny Zamora at 407-902-7750 to find out how much your home will sell for.

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TOR 025: The As-Is Contract and What it Means to Buyers and Sellers

Posted on by Jenny Zamora

Hello and Welcome to the Top Orlando Realtor podcast, if you’ve been here before, we are happy to have you back.

I’m your host John Conde with ORC and today I’ll be talking about the “AS-Is” contract and what it means to both buyers and sellers and hopefully, clear up a few things...

These are some highlights from today.

Play the entire episode to hear the full version.

We’ve all heard the saying ” let the buyer beware”…

And that usually applies when someone buys something at a garage sale or craigslist and it basically means you’re buying it as is and the seller doesn’t take refunds…

So let’s say you buy a toaster for a dollar, you take it home and you find out it only makes toast on one side, well guess what?… you’re stuck with it…

Now… when it comes to Orlando Real Estate… The As-is contract has a whole different meaning and sometimes the seller tends to misinterpret exactly what “as-is” means.

For starters… It doesn’t mean that you’re allowed to withhold any adverse information about the house from a buyer.

As a matter of fact, It’s against Florida law and you can get in legal trouble if you get caught.

It’s called strict liability and it’s taken very seriously in the state of Florida.

If a seller is caught doing this… The buyer has the right to not only rescind the deal, but they can sue the seller for money damages that resulted from failure to disclose.

Now Let’s talk about What Sellers Don’t Have To Disclose

Like Murder….you heard me right. If a dozen people were brutally murdered inside of a home. the incident does not need to be disclosed by the seller…

Could you imagine buying a home, moving your family into it then finding out from a neighbor that it was the scene of a triple homicide a year ago?

So A couple of other ones here that you don’t have to disclose

– If the prior occupants had aids, don’t need to disclose it either…

– Any death not related to murder. So.. If someone died of an infectious disease …

Personally, I wouldn’t care about losing a deal in this situation… I disclose everything I know about a listing whether it’s required or not…

Buyers should always do some extra research before submitting an offer on a home…Especially if you plan on living there.

Deadly crimes are easy to research online through police websites, and newspaper sites.

So That’s it for today, I hope this information was beneficial to someone out there.

If so, please take a second to go over to iTunes to give us a review and a rating

To submit a question or topic to the show just head over to our website and fill out a contact form, we’ll do our best to talk about it on the show.

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5 Indicators It’s Time To Sell Your Orlando Home

Posted on by Jenny Zamora

Most homeowners will occasionally think of what it would be like to sell their home and how much they could get for it. With the shortage of inventory in the Orlando real estate market, these days some homeowners are seriously considering selling even though they weren’t before. Terms like” bidding wars” and “above asking price” are being heard more frequently and for some people, it’s enough to list their house for sale to see what they can get for it.

With the road to the strong housing recovery still ongoing we are once again experiencing a shortage of Orlando homes for sale.  With a huge backlog of potential buyers, new listings typically get multiple offers within the first week of being listed on the MLS.  These market conditions translate to rising home prices or in other words a “seller’s market”.

But selling can be a life-changing decision and should be treated as such. Even if you stand to make a nice profit there are still many other things to consider like lifestyle, employment, schools, etc. Through my many years of experience as an Orlando Realtor, I’ve come up with some questions that I like to ask homeowners if they’re on the fence about selling.

1-Is the home the right size for you? This is one of the more popular reasons why people want to sell and move to a bigger home. I’m not talking about accommodating the occasional over night guest or the closet with way to much clutter in it.

The closet can be de-cluttered by throwing things out that you don’t need and as far as accommodating  an overnight guest, an air mattress in the Living room sends the perfect message…[ I’m nice enough to let you sleep here tonight but as you can see my house isn’t big enough to accommodate any more people comfortably].

Truly needing more space is about your immediate family’s comfort. Are your kids getting to old to share a room? Do you have an In-law [or out-law] moving in? Do you need to have a home office?  Maybe you want to live in a smaller home with less maintenance. These are all legitimate reasons for wanting to move to a bigger or smaller home.

2-Has home maintenance become a bad word for you? I remember when I first moved into my home and used to happily spend countless hours of my free time working on home improvement projects like painting, landscaping, installing shelves, etc. and the truth is that I still enjoy doing these things.

However, if you’ve lost that loving feeling…when it comes to doing home improvement on your home, then you may be ready for a home that requires no maintenance at all or very minimal at best. You should also be aware that the more you neglect to maintain your home, the more expensive it will be to get it back into tip-top condition. If you choose to sell it as-is, then expect the buyer to want a discount on the price.

3- Are you in a hot market? Overall, the Orlando real estate market is experiencing healthy home sales and increasing values. However, there are homes in certain neighborhoods in Orlando that are selling like hotcakes with multiple offers on the table. If you believe that you live in a neighborhood where the homes are selling for over asking price, then contact your Orlando real estate agent to ask about how much your house is worth. If you’ve been on the fence about selling and have  waiting for the market to bounce back, your time to sell may be now!

4- Where you waiting to have equity again? A lot of Orlando homeowners didn’t think that selling was even an option since the market crash of 2007. Back then, they were told the only way to sell was by doing a short sale on their home because it owed more than it was actually worth.

The truth is that tens of thousands of homeowners are back to having positive equity….and some don’t even know it. Contact your Orlando listing agent and have them prepare a CMA [Comparative Market Analysis] for you. You might be pleasantly surprised at how much you home has increased in value since then.

5- Has your life changed? No one knows what changes tomorrow can bring. Whether it’s a change in your employment, loss of employment, divorce, illness, etc. These type of life-altering changes can take your plan and run it right through the shredder. Don’t try to conform to a house that really isn’t the right fit for you. It’s important to move to a home that will meet your needs according to your life as you know it, you’ll be much happier if you do.

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New Short Sale Listing In Chuluota, FL!

Posted on by Jenny Zamora

Call or text 407-902-7750 to see this home immediately!

Prepare to be amazed by this luxurious home in Chuluota, Florida, This gorgeous home has it all!

It’s a 6 Bedroom, 4 1/2 half-bath home in a high-end community.
It boasts a huge master bedroom with his and hers walk-in closet, his and hers vanities, a garden tub, and a custom oversized shower.

You can find high-end Tiffany Style Stained Glass fixtures throughout the home with stylish ceiling fans.

The large open kitchen is a thing of beauty featuring Corian countertops, solid wood cabinetry, a convenient island with sink, and a large walk-in pantry to accommodate large families with ease.

Custom-crafted rounded archways lead you into the large family room. A downstairs bonus room can be a full home office, game room, or even a man cave with custom built-in cabinetry and a cozy window seat.

Or if mom decides to move in, you can always use this spacious room as a mother-in-law suite.

The home has a complete security system with connectors in each window.

These homeowners spared no expense when it came to over-the-top upgrades which are too many to mention.

You will not find anything else like it in the community. All rooms are extremely big, the 3rd room upstairs has its own bathroom and all rooms have big closets.

Spacious loft area you have unlimited options, you can turn this into a game room, sitting area, movie spot, you get the idea…Let’s not forget the oversized backyard, fenced in with a beautiful brick wall, herb garden, and built-in extermination tubing system all around the house.

You are also minutes from schools, college, parks, bike trails, golf clubs, dining, shopping, and more.

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Open Houses, Worth It or Worthless?

Posted on by Jenny Zamora

Several hundred realtors in Orlando were recently asked if they still held open houses as part of the marketing strategy to get a house sold. From the dramatic response that was received, real estate agents were passionate about wanting to respond to the question about open houses.

The answer was [Drum Roll Please…] an overwhelming 58% said that open houses are a waste of time and don’t do them anymore. The other 42% said they were in favor of doing open houses and still used them as part of their marketing strategy. The survey also revealed another interesting set of facts, over 70% of participants hold between one and six open houses in an average month while the remaining 30% don’t do them at all.

As listing agents in Orlando, we do hold open houses for certain properties as part of our marketing plan, especially luxury homes. Planning an open house for an investment home or a teardown would be a waste of time as open houses are geared more toward the retail buyer.

It depends on the seller whether an open house will even be an option for marketing the home. Some sellers are very private and don’t even want their own neighbors to know that their home is for sale.

Other homeowners expect their realtor to schedule at least one open house in the marketing plan. These homeowners just want the property sold no matter what and couldn’t care less how many people parade through their house. Open houses are also great for getting buyer feedback about the property.

Promoting The Open House

The most popular way to promote an open house these days is obviously social media. The more friends and people you’re connected with, the better your chances of having a successful open house. Email campaigns printed materials, and even bandit signs with balloons are also used among most real estate agents in Orlando to ensure some activity at an open house.

Some realtors will even take things a step or two further by baking cookies, popping popcorn, and even hosting a wine tasting at the open house.

So at the end of the day, open houses are alive and well although the majority of agents don’t do them. I think whether they are worth doing or not depends largely on the listing agent and how good they are at marketing their open houses. If the agent can get a good crowd to show up, then it’s worth it. On the other hand, if an agent just plans on putting up a few bandit signs and balloons, then why even bother?

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