Category: Agentes inmobiliarios de Orlando

Orlando Real Estate: Investors hurting first-time homebuyers

Publicado el por Jenny Zamora

Savvy Orlando real estate investors are beating first time home buyers to the punch

1st time home buyers looking for their ” dream home” are no competition for the seasoned Bienes raíces en Orlando investor. People looking for their 1st house to move into with their families are finding themselves being squeezed out of the Orlando real estate market by investors looking to capitalize on the current market conditions. With a growing number of people being foreclosed on each week , Orlando short sales are everywhere and investors know that the rental market will keep getting stronger as homeowners that have been foreclosed on scramble to get into rental properties in addition to people moving into the Orlando area from another state or country.

1st time Orlando home buyers grow increasingly frustrated

I feel bad for my clients who are just looking to buy their first home so that they can get their family moved in and settled. These people have no intention of flipping the house for a quick profit, pulling an equity line on it or renting it out for additional cash flow. They just want to move in, raise a family and do their best to “live happily ever after”. The problem with first time home buyers is that they have to qualify for financing which can take a while sometimes and there’s never a guarantee that they will get approved.

Today’s average seller is very educated on how different types of buyers and terms could affect them. It’s not just about taking the highest offer that you receive.

3 Tips for Sellers when looking at offers

1- Is the buyer pre-approved? I personally won’t even show one of my listings unless I have proof that the potential buyer has already done their due diligence as far as going to a mortgage broker or lender and getting pre-qualified for a loan. The buyer will also know what an affordable purchase price will be for them.

2- Will the house appraise for the amount of the asking price? A seller could have a contract on the property with a pre-approved buyer willing to pay full asking price and the deal can still fall apart. These days lenders will almost always insist on an appraisal being done on the property with an appraiser of their choice, [not the buyer or seller’s choice]. Once the appraisal is ordered by the lender, the lender will work off of the appraisal value and sometimes the property just doesn’t appraise for the amount of the contract price.

Things that can happen if the house doesn’t appraise for asking price.

a- The seller comes down on the asking price in order to make the deal happen. This is what usually takes place because the seller realizes        that he will probably run into the same problem again and will ultimately have to lower the price in order to get the house sold.

b- The buyer will have to come out of pocket to make up the difference. This rarely happens unless the buyer is absolutely in love with the home and the seller is unwilling to lower the price.

c- The deal just falls apart.

3- Are your buyers Cash buyers? Cash buyers are almost always investors looking for their next investment property.

Things to consider when you have an “all cash offer”


a- A cash buyer will not pay you full retail price for your house. Whether they are buying with the intent of flipping or renting it out, they are going to want a deal that makes sense to them, [dollars and cents]

b- Cash buyers can close quickly. One of the benefits of working with cash buyer is that there are no lenders involved. Experienced investors will already know what the numbers are even if there are repairs involved. They will rarely get an appraisal done which means that there are not many things that can get in the way of this deal getting done, usually within 3 days or so.

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Beware of online Orlando Real Estate ads for rent

Publicado el por Jenny Zamora

Online real estate rental scams are still on the rise

Unfortunately, their are people in this world that are just hardwired to be scammers. The internet age has made things even easier for these scammers to rip off unsuspecting victims especially in the rental arena of Orlando real estate. Scammers will actually post Craigslist ads for properties that are for rent on the Florida MLS but, their asking rent is always much less than what the real asking rent is. This is what makes the ad so enticing, people see the and and say “Wow a 3bd 2 bth in Downtown Orlando for only $500 per month! I ‘d better snatch it up before someone else does”.

Then they continue to exchange emails back and forth with the so-called owner, which of course, happens to be traveling out of the country because he is soo successful and busy. The so-called owner will then request the first and last month’s rent via Western Union in order for the renter to lock in the contract before someone else does. The next thing you know they’re sending 1st and last month’s rent to an internet thief after signing a completely bogus rental agreement.

It’s human nature to be attracted to anything that seems like it’s a great deal. These ads are designed to arouse your curiosity and get you excited about moving into a house that you would normally not be able to afford,… a real lifestyle changer. The problem is that people get so caught up in the idea of moving into their dream house, that their judgment gets clouded and they are no longer thinking straight. Unfortunately, I’ve heard countless stories like these over the years and the sad part is that these types of rental and purchase scams are still on the rise.

Hire an Orlando Realtor and prevent getting burned

Many people don’t like to use realtors because they think that they can save money by finding their own Orlando property to rent and avoid paying a commission by dealing directly with the owner. The truth is that dealing directly with the property owner [even if it’s the real owner] is like going to court without a lawyer. Landlords love it when they get a renter that is not represented by an Orlando realtor. They know that they will not only  be able to control the situation completely but they don’t have to pay a realtor commission.

The place where someone lives is the most important place in their lives. This is the place where you and your family come together for shelter, safety, food, rest, entertainment, etc. Like Dorothy said, “There’s no place like home”.

This is why it’s soo important to use a licensed Orlando Realtor to find a place to live, whether it’s to rent or own. By trying to save a few hundred bucks upfront, you could end up paying a lot more than that by doing things on your own. Agentes inmobiliarios en Orlando are trained to go through contracts and to make sure that everything is done legally as well as look out for your best interest. Top Orlando realtors are also much better negotiators than the average person which means that you might even be able to get a better price on a rental than you would have on your own.

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Ask your Orlando realtor questions about your short sale

Publicado el por Jenny Zamora

Don’t be afraid to ask your Orlando realtor questions about your short sale

  So you’ve decided to pursue a short sale on your home either because it owes more than what it’s worth and and just want to get out from under it or because you’ve fallen behind on your mortgage payments. You’re next step should be to find a experienced short sale realtor with a proven track record. How do you do this? Well like everything else these days… you Google it!  For example, if you need to find a good short sale realtor in Orlando, you should type in terms like “Orlando short sale realtor”, “Orlando short sale specialist”, “Orlando short sale expert”, etc…. you get the picture.  Once you hit the search button your computer screen will pull up the top results for the best short sale realtors in the city of Orlando. I would suggest that you choose from 1st page results and forget about going to page 2.

Now that you have a list of the top Orlando short sale realtors, start calling and emailing them. This is a great test to see which realtors will get back to you right away and which ones will call you 3 days later or maybe even not at all. Quick tip; If a realtor takes more than 24 hrs to get back to you, stay away! Imagine how frustrating it would be for you if this person had control of your short sale and every time you tried contacting them with an important question you had to wait days for a response.   By using this tactic of contacting every realtor on the first page, you will eliminate at least half the Orlando realtors that are showing up, which never ceases to amazes me. I can’t tell how many times sellers have called me and told me that they’ve called another realtor before me and they never got a response.

Now you should have a hand full of realtors that you were able to get a hold of immediately or at least in a short amount of time. I suggest that you now have a long conversation with them over the phone. You can tell a lot about someone by just talking to them for a while. While you’re talking with them be sure to make notes about that individual such as; “seemed friendly and knowledgeable” , “answered all my questions” , “was very impatient”, “felt like I was being rushed”, “not experienced enough”, etc. Remember, you’re looking for someone that’s not only going to be looking out for  your best interest, but this person will be [or should be] in constant contact with you and it needs to be someone that you feel comfortable  with.

The Final step in Hiring an Orlando short sale realtor

OK, now hopefully you should have at least 2 realtors that you’re thinking about listing your house with. The final step in choosing the best realtor for you is to make an appointment for them too come and see you at your home. Ask them to bring testimonials from past clients as well as anything else that they can use to prove their track record to you. You should also ask them to have a plan of action laid out for your home if they were to get the listing.   Remember, when they come over to meet with you, you’re the one in control. They are their to try and get you to hire them, not the other way around. After meeting with the 2 or 3 realtors that you’ve set appointments with, you will undoubtedly have made a decision on the realtor that best meets your needs.

Follow up with your realtor as well as your lender

Now that you’ve  found an Orlando short sale realtor that you’re happy with, make sure to follow up. A good short sale agent should provide you with weekly status reports n the status of your short sale. Another way to make sure your file is being handled properly is to follow up with your lender and find out what’s happening with your file as well as when was the last time your realtor mad contact with them. You shouldn’t feel bad about doing this and your realtor shouldn’t feel offended because you’re checking up on them. This is probably one of the most important things happening in your life right now and you have a right to know exactly what’s going on.

 

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Beautiful Orlando Property for Sale in the Meadow Woods subdivision

Publicado el por Jenny Zamora

Orlando Home in Meadow Woods have the neighbor’s heads turning

From ugly duckling to beautiful swan, this two-story 2,000+ sq ft Orlando property home has been fully renovated from head to toe. One of my investor clients started on this remodel about 3 months ago and finished this week. As soon as you open the front door the property just says “Welcome,  Come on in! “.  The soothing layout is an open floor plan with a very well thought out and functional design including a large downstairs masters retreat with the remaining 3 bedrooms and bonus room on the second floor. Also located on the first floor is a spacious kitchen with a breakfast bar, formal dining room, and large living room with a pond view. This beauty has been 100% renovated using exotic granite countertops throughout, top-quality carpeting and ceramic tile floors, high-end fixtures, and stainless steel appliances.

This immaculate Orlando home is located in the very desirable subdivision of Meadow Woods off of Landstar Rd. which is close to public transportation, shops, restaurants, and attractions. Located on a corner lot, the fenced-in yard is enormous and the property has a pond in the back yard great for fishing and canoeing.

The beautiful landscaping consists of Large Queen palms, Seigo palms, roses, citrus trees, and several other flowering plants that I just don’t know the name of.

No Expense was spared when renovating this Orlando property

The inside of the house was completely remodeled using exotic granite throughout, high-end fixtures and stainless steel appliances, top-of-the-line carpeting, and tile. My client knows that the key to a successful re-hab is to make everything look perfect giving the buyer absolutely nothing to complain about.

By using earth tones and not skimping on kitchen and bathroom cabinets as well as countertops, you are giving yourself the best chance to sell the property quickly. Pricing Bienes raíces en Orlando correctly is crucial in order to get the property sold quickly, that’s why we do a complete market analysis before listing any of our Orlando homes.

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Florida incomes and Orlando real estate continue to rise

Publicado el por Jenny Zamora

Floridians income increase along with their confidence

 

Florida has shown substantial gains on three different areas, Real estate prices, income and consumer confidence. Much of this can be attributed to the overall housing market in Florida. Bienes raíces en Orlando is a great accelerator when it comes to creating jobs and increasing local incomes, then the next logical thing that happens is a confidence boost. It’s just human nature, when people are doing OK financially they not only feel better about themselves but they become more confident about how much they can spend when house hunting.

I think It’s good that Floridian’s consumer confidence is at it’s highest point in 5 years but potential home buyers still need to be careful. The Orlando real estate market is constantly changing and right now it’s on the rise as it has been for the past 2 years or so. This doesn’t mean that you should buy just any house listed on the MLS. The truth is that many Orlando properties that I see listed are seriously overpriced. Sometimes this is due to the seller wanting to sell for the absolute highest price in the neighborhood because sellers typically believe that the house where they live is special compared to other houses in the same neighborhood, again…just human nature.

 

Short Sale Lenders are sometimes to blame for overpriced real estate listings

As short sale realtors, we are sometimes told by the client’s lender how much to list the property for. Sometimes, no matter how many years of experience we have in selling Orlando real estate, they still think they know more about the local market than an experienced Orlando realtor. I’ve argued with negotiators until I’m blue in the face as far as “fair market value” is concerned and they will still try to tell me how much the property should be listed for. However I quickly learn, usually on the first conversation, whether arguing my point will do you any good. Lenders that absolutely insist on telling me how much to list a property for… in my area of expertise,  I do just that.

9 out of 10 times, the result is that the property spends a lot more time on the market than it should have. With no offers or contracts after several weeks or even months of the property being listed, short sale negotiators will eventually figure out that they’re asking price needs to be lowered, then…I do just that and the property gets sold.

 

 

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