Category: Orlando Realtors

Things you Must Know when you’re Choosing an Orlando Short Sale Agent

Posted on by Jenny Zamora

 All Orlando Realtors Were not Created Equally

When it comes to doing an  Orlando short sale, many things come into play. One of the most important aspects of this particular home selling process is the agent that you choose. Your real estate agent will be doing all of the negotiations for you with your bank as well as with the potential buyer; therefore, you have to trust your short sale agent.  In order to trust your agent, you should know important things about them before turning the steering wheel over to them when it comes to selling your home.  When picking an agent, it’s absolutely crucial that you do your research on that person.

The first thing you should do is research the agent’s background and area of expertise in Orlando Real Estate. The best way to research the company is to utilize online search engines. Simply type in the company or the agent’s name followed by “reviews.” Within seconds you should be able to find numerous reviews from previous clients that will help you to determine the reputation of the company in which your agent is associated.

Certified Distressed Property designation

As with anyone that you hire, you should take into consideration the agent’s real estate experiences. You can also ask the agent to provide you with references, which you can call to obtain detailed information from previous Short Sale clients. References can provide you with the best information about what to expect if you need to do a short sale on your house.

Also, make sure that you agent has their Certified Distressed Property Designation. Although this isn’t the most important thing that you should consider when hiring an agent, it certainly doesn’t hurt to hold this endorsement.

 

Ask About Getting Cash Back for Your Short Sale

There are many “Cash For Keys” type programs out there right now from organizations such as HAFA. We’ve gotten our clients anywhere from $3,000.00 to $20,000.00 back from the bank at closing. When interviewing a realtor, make sure that you ask about these programs and what the plan of attack will be before signing anything. If they don’t specialize in short sales, then chances are they’re not going to know what the latest laws and regulations are and what they’re able to qualify you for.

The problems start when a homeowner hires an agent to do their short sale and the agent either has very limited experience with short sales or none at all.  Short sales are not easy and not all realtors have the skills, work ethic or experience required to be an expert short sale agent.  When homeowners make the mistake of not hiring the right agent for the job, the result can be disastrous resulting in your home getting foreclosed on.

If you’re in the market for a real estate agent that specializes in doing short sales do your research and find out everything that you can about the agent before making your decision, you’ll be glad you did.  Ask me anything, I’m here to help.

 

 

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HOA Foreclosures Keep Rising as Associations Seek ‘Revenge’ on Delinquent Homeowners

Posted on by Jenny Zamora

HOA foreclosures are becoming more and more common these days. Tired of putting up with late duesAvoid foreclosure Orlando, FL and mounting maintenance bills, some homeowner associations are motivated by spite and revenge, instead of sound business sense, to foreclose on delinquent owners.


I believe that taking title to a property for a few thousand dollars in unpaid association fees is just wrong and isn’t the best answer.


Here in Orlando a Home Owner Association will only receive 1 year worth of payments if the property goes to foreclosure sale. Sow why are soo many Associations initiating the foreclosure before the lenders even do?


Here’s what I think, HOAs are fed up with being playing fiddle to the lenders. It used to be that HOAs were easy to work with. If someone was behind on their HOA dues it was no big deal. If the seller owed ten thousand dollars in delinquent HOA dues, experienced Orlando realtor could usually get them to accept one to two thousand dollars and they would only get paid at the closing table.

 

The fact is a lot of members aren’t paying because they haven’t seen that the associations mean business, Associations are now very educated on the subject. Now they  are getting serious about it and moving towards foreclosure much faster and many times, beating the lenders to the punch.

 

Because it’s easier for an association to foreclose than a bank  [no proof of ownership necessary, no issue with robo-signed documents ] real estate attorneys say that the biggest reason for the increase in HOA foreclosures is that HOAs are tired of getting pushed around and are now pushing back with a vengeance.

 

 

Orlando Homeowner Associations getting rental income from foreclosed houses

There’s another reason why HOA’s are foreclosing way before the lender does. When the homeowner association forecloses and takes title to a home, they rent it out until the bank forecloses as the primary lien holder. With banks taking years to foreclose on some properties, the board can collect thousands of dollars by the time the bank gets around to foreclosing.
I’ve seen with some of my own clients that HOA boards will even implore tactics such as taking away there gate key forcing them to park outside the community and walk.The fact is that many times the HOA will push for foreclosure out of spite even when there are other options available.

If you happen to find yourself in a similar situation with your HOA, then you should consult with an Orlando Realty Expert. It doesn’t cost you anything and you may find the solution to your problem

 

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Hunters Creek Florida Voted one of America’s Best Neighborhoods!

Posted on by Jenny Zamora

Hunters Creek, FL comes in at number 21 for best places to live in the U.S.

Twenty-one is a pretty good number considering all the great places there are to live in the entire US. As a resident and business owner in Hunter’s Creek, I’m very proud of my neighborhood, but Hunters Creek Real Estate has definitely had its share of ups and downs. When the crash of 2007 happened, houses that were worth 500k were all of a sudden worth somewhere in the low 200’s, I know this all too well because that’s exactly what happened to me.

Our house actually appraised at 580k in 2006 and ended up all the way down at 220k appraisal value in 2008. Although that was a hard fact to face, we really loved the beautiful and kid-friendly neighborhood, and that was priceless to us.

The Parks of Hunters Creek

Having two young boys, one of the biggest attractions for us was all the clean and perfectly manicured parks. You can definitely tell that when they started building Hunters Creek 25 years ago, they had young families in mind all the way. There are playgrounds, soccer fields, baseball fields, football fields, basketball courts, tennis courts, and racquetball courts for residents to enjoy. Hunters Creek also has youth sports programs for just about any sport you can think of for children wanting to participate. There are also gazebos and community centers that can be used for private activities.

Shopping and Restaurants

Hunters Creek is conveniently located close to several good restaurants right there in The Village. Wherever you live in Hunters Creek, you’re only a few minutes away from a healthy selection of family restaurants, pubs and there’s even a Farmers market. If it’s a mall your looking for, try going to the Loop. It’s just minutes away and it has a wide array of stores as well as a movie theater.

Shingle Creek Trail

 

Over the years we’ve seen enough animals in our backyard to start a zoo. We’ve seen deer, turkeys, river otters, bobcats, foxes, wild boar, bald eagles, sandhill cranes, and owls just to name a  few. With ponds everywhere, most residents are able to go fishing, kayaking, or canoeing without even having to drive. Although we’ve seen small alligators in the water, the larger ones are removed by animal control and taken to Gatorland.

Shingle Creek Trail is a beautiful conservation area that consists of hiking trails, bike paths, lakes and there’s even a

trail that travels along the side of Shingle Creek where people go kayaking, canoeing, and fishing. We often go bike riding through the trails because my boys love it.

Hunters Creek Real Estate is in High Demand

Hunters Creek Realtor

Being an Orlando real estate broker I can tell you that there is a serious demand for houses in Hunters Creek right now.  It’s also a good time for people that want or need to sell a property because of the steadily increasing property values. The top-rated schools in addition to everything else I mentioned make Hunters Creek one of the most desirable neighborhoods in Orlando. The good news is that you can still find a great deal in Hunters Creek.

If you’re ready to see some great homes in Hunter’s Creek, feel free to contact me on my Cell @ 407-902-7750 or you can email me here.

ORC IS HUNTER’S CREEK BASED REAL ESTATE BROKERAGE

 

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Orlando Short Sales Overtaking Foreclosure Sales

Posted on by Jenny Zamora
 For the first time Orlando short sales are becoming more popular than sales out of foreclosure.  As a matter of fact, in Florida short sales have outnumbered bank-owned home sales since July.
 
Lenders are favoring short sales more and more these days, with good reason. Short sales have proven to be faster and more lucrative process than foreclosure. Short sales accounted for 24 percent of all home sales nationwide while foreclosure sales represented 20 percent.
   

Top 3 reasons why lenders favor short sales over foreclosure sales

 
•    Taking a home to foreclosure is a long, drawn out process and can take up to a couple of years sometimes. Even then, there are soo many things that can go wrong if things aren’t processed correctly by the attorneys, which happens more often than you would think.
 •    Lenders can avoid paying a ton of money in legal fees. You can’t foreclose on a home without attorneys. I’ve seen attorney’s charge as high as $15,000.00 for  1 single foreclosure case.
 •    Better sales prices on Orlando properties. Statistics show that banks get higher and better offers when they short sale as opposed to the foreclosure sale. Many times it won’t even sell at the auction and it ultimately becomes the banks problem…Again!
 
In the end it’s all about the almighty dollar.
 
Lenders are finally realizing that Orlando short sales are a win for everybody. Mortgage companies are even offering large cash incentives to homeowners who agree to do a short sale. I’ve gotten some of my clients up to $20,000.00 back at closing from their lender. How’s that for a bailout plan?
 

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Butterfly Destroys the Roof on an Orlando Property! Would Your Homeowners Policy cover This?

Posted on by Jenny Zamora

Orlando Homeowners Insurance Policies are getting cut left and right

Citizens Insurance is a Non-Profit state-run insurance company started in 2002 because of the fact that private insurance companies were leaving Florida due to the risk of hurricanes.
It used to be that when nobody else would cover your Orlando home or business, you could always go to citizens for a policy.  So when citizens sent out a letter to their policy holders late last year informing them that they would no longer be covering carports, screen rooms, patios, pool cages or awnings- expensive items to get fixed – many people were alarmed…Including me.
Even Florida based home insurance companies that we thought were Florida’s future are selectively cancelling policies in higher risk zip codes.

Here are the hard facts

  • State Farm is planning on cancelling 125,000 Home owners policies in addition to the policies they’ve already cancelled
  • Nationwide is dropping an additional 60,000 home owners policies
  • The number of people that report  that Homeowners insurance is too expensive is increasing by the day.
  • Newly formed home insurance companies just can’t keep up with all the policies being cancelled by the larger companies
  • It’s harder than ever for Floridians to find quality Homeowners Insurance at a reasonable rate.
  • Both Citizens and the Florida Hurricane catastrophe fund have reported their concerns about not having the cash needed to pay for a major Florida Hurricane.

Get involved Floridians!
As tax payers and voters, we can make a difference by getting involved. Let’s keep the pressure on the Florida legislative representative to make something happen that would bring more Insurance companies to Florida and keep are rates affordable.

Let  your FL Legislator know how you feel!

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