Category: Orlando Realtors

Certified Distressed Property Experts and Orlando Real Estate

Posted on by Jenny Zamora

What is a Certified Distressed Property Expert [CDPE]?

It means that an Orlando Realtor with the CDPE designation is someone that is supposed to understand the complex and ever-changing issues in today’s Orlando Real Estate market. The agent should have knowledge of foreclosure avoidance options available to homeowners. A CDPE can provide solutions, specifically short sales, for homeowners facing market hardships.

Many times Orlando homeowners make the mistake of trying to do things on their own when they’ve fallen into foreclosure. This is always a bad idea because when someone is in financial distress, they’re just not thinking clearly, especially with the emotional burden of potentially losing their Orlando home to foreclosure.

Speaking with a realtor that is CDPE certified, also known as an “Orlando Short Sale Expert” is by far the best course of action to take. First of all, it doesn’t cost you a cent to consult with an Orlando realtor [if a realtor ever tries to charge you for a consultation, turn around and walk away], so you have absolutely nothing to lose in this regard. CDPEs have the tools, knowledge, and experience to help homeowners figure out the best solutions for their specific solution through the execution of an Orlando short sale or loan modification.

Are you considering an Orlando Short Sale?

If you’re currently looking for an Orlando Short sale Expert, make sure to select an agent that possesses the CDPE designation to make sure that you have a trained professional to address your specific needs.  CDPEs have an obligation to go above and beyond for their clients in need and you shouldn’t settle for anything less.

It’s not just about the CDPE Designation…

With all of that being said about CDPEs, it’s important to also consider the amount of experience the Orlando agent has had as a CDPE and what is their success rate with short sales in Orlando. This is something that is easily researched online or even better… ask your potential agent to show you proof of how many short sales listings they have and also ask them how many short sales they’ve closed in the past 6 months.

Another great option that may save you some time is just Google Orlando Short Sales and see what comes up. The top three results that come up should give you a great starting point. Like most people in the world today, I use Google for just about everything.

You want an agent that’s aggressive and doesn’t take no for an answer. Working with short sales is tough and you need an agent that is willing to go toe to toe with the bank for you. Unfortunately, this kind of tenacity and work ethic is something that is difficult to teach, realtors either have or don’t have.

Ask me anything, I’m here to help.

Jenny Zamora, Lic RE Broker.  Certified Distressed Property Expert

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We are Currently Hiring Orlando Realtors!

Posted on by Jenny Zamora

Orlando Realtors Wanted!

Due to the ever increasing amount of leads that we have coming into our office, it’s once again time to hire more Orlando Realtors so we can keep up with the demand. Have you ever wanted to work with and learn from a Top Orlando Broker?  Well, If you are a licensed Orlando Realtor, then now is your chance. Here are some of the things we take into consideration when hiring an Orlando Real Estate Agent.

Top 5 qualities we look for in when hiring an Orlando Real Estate Agent

1-  Be on time- Whether your coming into the office or headed to a meeting with a potential buyer or seller, nobody likes it when you make them wait. It’s unprofessional and It starts things of on the wrong foot. I’ve seen agents lose potential Orlando listings just because they showed up late for the appointment. The  seller will automatically think that you are always late for every thing you do.

2- Be a person of your word- If you say that you are going to do something, then follow through and do it. Being someone of your word will help to build your reputation as a trusted real estate professional in the community. It also helps to build trust with the people who work around you on a day to day basis. To be a successful Orlando agent you must have the  reputation of being a dependable agent and people will know that you won’t let them down.

3- Always be willing to learn- There are some agents out there that think they know everything because they’ve been doing real estate for a while, they get stuck in a certain way of doing things and resist change. With all the new laws and regulations that are happening in Orlando real estate, you have to be aware of them in order to serve the client to the best of your abilities. If you don’t know about the “New Law” that came out yesterday that will help your new client to achieve their goal, then you’re failing to do what’s best for your client.  I’ve been in real estate for 10 years and I feel like I learn something new everyday.

4- A good work ethic- This is something that is taught and instilled in you from when you’re a child. In my experience, It’s virtually impossible to teach an adult to have good work ethics if they don’t already have it in them. In the competitive world of Orlando Realty, you must be a hard worker if you’re going to survive solely as Realtor. We can provide an agent with a steady flow of leads for Orlando real estate, for both buyers and sellers. However, if those leads aren’t followed up on or worked on, then it’s a complete waste of time and marketing dollars.

5- Have a positive attitude- People that have a positive attitude tend to radiate positive energy or otherwise known as having a “Good Vibe”. These is really something that you either have or don’t have. I’ve met Orlando agents that absolutely hate being a realtor and it shows through. No matter how bad they try to hide it you just get the feeling that the don’t want to be there. This is negative energy aka having a “Bad Vibe”. Having a bad attitude will cripple you and ultimately destroy your career as a real estate agent. If you love what you do, you will never work a day in your life. To be a successful Orlando realtor, you have to absolutely love what you do and submerge yourself in it.

So there you have it. If you have the qualities mentioned above and you want to join one of Orlando’s Top Real Estate Brokerages, then please contact me so we can have a chat.

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9 Critical Questions you Must ask your Orlando Realtor before Listing your Home

Posted on by Jenny Zamora

Listing your home with the wrong agent could cost you Big Bucks

Most people will only sell a home a handful of times throughout their whole life. With limited or no experience in Orlando real estate it’s hard for someone to know how to maximize their profits from the sale of their home. Unfortunately, many homeowners make the mistake of thinking that all realtors are the same. They list with the first realtor that comes along without doing any research on that person and it ultimately ends up costing the seller thousands of dollars. The following information will help you to decide which Orlando realtor you should choose to sell your home for maximum profit.

Always Start with Google

Like pretty much anything you do these days, you start by typing your search term into Google and see what comes up. Most of the time you can find out anything you need to find out just by doing this. Once the list of Orlando realtors comes up, pick the top ten search engine results and write down their information. From these top ten agents, you should use the following questions to decide which is the right agent for you.

1.    Could You send me some information about yourself?   By asking this  question you can learn a lot about this realtor. Ask them to see some of their marketing materials such as; postcards, ads, internet ads, etc. Also, pay attention to how long the agent takes to get back at you. If it takes a Orlando realtor 24 hrs or more to get back to you after you’ve left them a message then you can expect them to take at least that long to follow up with a potential buyer for your house.

2.    How many Orlando properties have you listed and sold in the last six months?   You want an Orlando agent that has experience in selling homes in the area where your home is located. By knowing the number of houses they’ve listed and the number of houses that they’ve sold within the same time period, you can get a good idea of what kind of results to expect.

3.    What is the average length of time that it takes you to sell home?   See what they tell you, then verify it. An Expert in Orlando real estate will know exactly at what price to list your home at to sell quickly for the highest price that the market will allow. The agent that you choose should have a good record of selling homes, not just listing them.

4.    How long have you been in business?   Going by how long an agent has had their license is not a good way to find out how good of a home seller they are. There are many “part time” agents that have been licensed for ten years or more, but I will choose a “rookie” top producing agent any day over a realtor that has to do something other than  selling Orlando real estate to make a living.

5.   Do you have any employees or an assistant?    Top  Producing Orlando Agents will almost always have at least an assistant. A lot of things involved with selling real estate are tedious and very time consuming, especially when you’re negotiating a short sale. A realtor with an assistant is typically a sign of a successful realtor.

6.  What listing price would you recommend? And how did you come up with that number? Pricing a house right from  the beginning is absolutely critical. The price should be realistic and a Keep in mind the selling price should attract prospective buyers to your home, get you top dollar in the current market and reflect the condition of your home. Be realistic and avoid ‘yes agents’, who will say ‘yes’ to any request or price while your home languishes on the market. Lowball agents will try to talk you into an artificial price simply to sell as fast as possible.

7.   What does your listing agreement entail? ,  when does it expire and what fees will I have to pay if you are successful in selling my house? – Have your agent go over every detail in the listing agreement with you until you understand it completely. Make sure the beginning and ending dates are on the agreement; a good standard for length is three months. Know exactly what fees you will be paying and remember that less is not always better. If the agent stands to make very little commission you can bet it will be reflected in the amount of time and effort that is spent marketing your home. If the agent reduces their commission to get the listing it may mean they intend to spend very little money promoting the property. The normal commission is between 5 and 7 percent.

8.   How do you market your Orlando properties?  How much is your Orlando realtor going to spend on advertising this property? What are the different methods or strategies do they use for marketing their properties? Do they have a strong internet presence? Beware of agents that will do nothing more than list your property on the MLS…and that’s it. Agents who are aggressive and innovative with their marketing will always outperform agents who only rely on methods of the past.

9.   Can I see some testimonials from your past clients? Any top producing Realtor should have at least a dozen testimonials from past clients and should be happy to show them to you. If the agent can’t produce any, then you should end the interview right there and continue searching for the right agent.

I hope these questions will help you to find the right realtor for you. As always ask me anything, I’m here to help.

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Orlando Home Prices Increase Despite Fewer Sales

Posted on by Jenny Zamora

There are fewer listings in Orlando than ever since 2005 according to a report released recently by the Orlando Regional Realtor Association.

The Orlando Real Estate market [Orange and Seminole counties] had 8,642 active listings for last month. There hasn’t fewer listings since September of 2005. With fewer homes competing for buyers, the median price went up from $115,000 in March to $116,000 in April.

“The overall median price has increased for three consecutive months, while demand has created inventory declines for the last 18 months” said Stephen Baker, chairman of the Orlando-based association. “Add in today’s prices and the lowest mortgage rates since the 1950s, and now we have a market with buyers competing for available homes.”Both REOs and short sales have seen an almost 6% increase in sales prices over the past year while normal sales prices have decreased 2%. In April traditional sales account for about 45% of Orlando Real Estate’s overall sales. Just one year ago ago traditional sales made up about 1/3 of overall sales.
Although interest rates on a 30 year fixed mortgage have gone up slightly [4.02%], these rates are still among the lowest historically. In February interest rates were the lowest ever at 3.92%.

With a fewer amount of listings on the Orlando Realty market, this will obviously impact local sales volumes. In April, sales were down 3.4% as opposed to 4.5% one year ago. Orlando homes are also spending much less time on the market as opposed to a year ago with a higher sales price, about 95% of the asking price as opposed to a year ago when home were selling at about 91% of asking price.

What it all means to Orlando Real Estate Today?

After looking at all these statistics from recent and past Orlando home sales,  mortgage rates, etc., it can be a bit confusing about what it all means to Orlando Realty today if you’re not an experienced Orlando realtor.  In a nutshell, the Orlando Real Estate market is getting stronger and more stable everyday.

With all the cash incentives for Orlando Short Sales and with the mortgage relief act of 2007 still in play, it’s absolutely the best time to short sale your Orlando home.

For Orlando Home buyers, you can still get a great price on a home and take advantage of the lowest interest rates in history. Feel free to use our Orlando home search tool and in just seconds you will be able to see all the great properties in Orlando.
For traditional sellers who want or need to sell their Orlando home, they no longer have to worry about getting insulted with low ball offers. Find out what your Orlando home is worth here.

 

 

Ask me anything, I’m here to help.

 

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Growing Demand for Orlando Real Estate is Absorbing Shadow Inventory

Posted on by Jenny Zamora

 

Orlando Realty Sales are slowly overtaking the number of distressed properties coming on to the market

Chief Economist Dr. John Tuccillo says “The fear is that the inventory of delinquent and foreclosed loans will be released onto an already weakened market,” , explaining the findings of a new report conducted by the Florida Industry Data and Analysis department. “But the reality appears to be different, even here in Florida where distressed properties make up a significant portion of the market.”

Lenders have no reason to flood Florida’s real estate market with more homes especially if it ultimately affects their profit. Think about it, if the Orlando real estate market gets flooded with homes all at once then this would drive prices down significantly. Many people thought that lenders were holding inventory back on purpose when the true cause of this hold up was because of all the robo-signing issues they had to figure out.

Tuccillo says, “We looked at the recent history of distressed property listings and transactions relative to normal market data, as well as estimates for the shadow inventory, and came to some conclusions about the likely course for the future.”

 

These are the findings of recent studies done using data from the Florida MLS

* Even though Orlando Florida remains one of the Country’s hardest-hit areas for distressed property sales, foreclosure sales keep dropping while Orlando short sales continue to steadily rise.

* Prices for all residential properties including both distressed and normal property sales have been steadily increasing.
Orlando Realtors have learned how to cope with distressed properties in a way that stabilizes the market. It’s no longer an issue whether the  property is in distress or not.

* Currently, the number of distressed property sales [Orlando short sales and REOs] is more than keeping up with the amount of distressed  properties [90 days or more behind] coming on to the market.
 
 * The number of Orlando foreclosures and REOs were significantly lower in February of 2012 than one year earlier, suggesting slower shadow inventory growth.
 Distressed properties in Orlando will be a common trend for many years to come.  It will be so common that “distressed property” will be considered just another property type to a potential buyer.
 
Orlando Real Estate Broker

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