A recent report by the Orlando Regional Realtors Association, states that right now is a good time to buy or sell a home in Orlando, FL. Although there is a shortage of inventory, mortgage interest rates remain extremely low which continues fueling high demand for housing in Central Florida.
Many Realtors in Orlando… including myself, thought when the pandemic started, it would be devastating for real estate professionals. Since real estate agents work solely on commissions meaning… if you don’t close a deal, you don’t get paid. Realtors, for the most part, aren’t eligible to collect unemployment like in a normal 9 to 5 job.
There’s no denying the Coronavirus pandemic slowed down many businesses and even caused some to close, but the Orlando real estate business isn’t one of them. I can tell you that my own brokerage Orlando Realty Consultants, is even busier than we were this time last year.
There’s
no doubt in my mind this is largely due to people moving from larger cities up
north wanting to live in more spacious suburban surroundings. More and more
businesses are offering their employees a way to work remotely so they can live
wherever their hearts desire.
Orlando is home to some of the best suburban neighborhoods in the state of Florida. Neighborhoods like Hunter’s Creek which was voted the 21st best place to live in the US by CNN’s Money Magazine. These great communities combined with gorgeous year-round weather make living in Orlando attractive to anyone and everyone.
Orlando Home Sales Up 20% Since Start Of Pandemic
The greatest issue home-buyers are confronting is that low housing inventory is driving an enormous demand. With historically low-interest rates, homes are vanishing off the market.
Even if you are not interested in buying or selling, real estate agents in Orlando say now is an excellent time to refinance. It does not hurt to see what your options are. You could end up shaving hundreds of dollars a month on your mortgage payment if you refinance.
Can We Expect To See More Foreclosures In 2021
Most homeowners that have been affected financially by the pandemic have been able to get through these hard times. Thanks to forbearance agreements, unemployment checks, and stimulus money people who know how to “trim the fat” have been able to keep up with their bills. But what happens when all these temporary solutions come to an end?… and they will end at some point. I believe many homeowners may have to take out home equity loans at some point and use them to keep up with their mortgage payments while others will elect to sell their Orlando home to cash in on the current seller’s market.
Right now, it’s too early to tell how this will all play out because many people are still receiving unemployment benefits and our new president is promising another round of stimulus checks to all tax-paying Americans. Hopefully, the world will get back to being close to normal, the economy will bounce back, and the housing market will continue to boom.
If you received a mortgage forbearance due to COVID-19, your payment suspension could be about to expire. If so, you must request an extension before the initial forbearance agreement expires. It’s important to know that a forbearance extension through CARES isn’t guaranteed. The CARES Act [aka] Coronavirus, Aid, Relief, and Economic Security (CARES) Act. was signed into law on March 27th of 2020. If you aren’t sure, contact an experienced Orlando Realtor to assist you.
The act granted homeowners who were financially affected by the coronavirus a 6-month temporary suspension with no penalties. That means the first forbearance agreements began to expire at the end of October 2020.
The CARE Act also allowed for a 180 forbearance extension… as long as the homeowner requests before the initial agreement expires.
MAIN POINTS
The CARES Act provides up to 360 days of mortgage payment forbearance for homeowners with a federally backed loan.
The initial forbearance can be for up to 6 months with one 6 month extension.
You must request the initial forbearance from your bank as well as the extension. Neither one is automatic.
To apply for an initial forbearance or an extension, contact your lender.
Typically, forbearance freezes delinquency, which also stops foreclosure.
Most lenders offer COVID-19 related forbearance. For private lenders rules and conditions vary.
What Loans Qualify for Forbearance Under the CARES Act?
The CARES Act forbearance applies to mortgages backed by the federal government:
Loans insured under section 255 of the National Housing Act.
Loans insured under section 184 or 184A of the Housing and Community Development Act of 1992.
Loans insured by the Department of Veterans Affairs.
Loans insured or made by the Department of Agriculture.
Loans insured by the Federal Home Loan Mortgage Corporations (Freddie Mac) or (Fannie Mae)
Apply For Your Extension Through Your Lender
If your loan forbearance is about to expire and you still can’t make the payments, contact your lender immediately. Check your mortgage statement for the contact information of your mortgage servicer.
Your lender should notify you before the expiration of your current forbearance. Don’t take a chance! If you’re not sure when your current forbearance expires then call your servicer to tell them you need an extension. If you’re unsure or need some help, feel free to contact us at https://orlandorealtyconsultants.com/ for immediate assistance.
Before you contact the lender, visit their website for any mortgage relief options available.
The CARES Act only requires that you request an extension and by law… you shall receive one.
Get It In Writing!
Although the law doesn’t require your forbearance request to be written, it’s a good idea to ask your lender for documentation detailing the terms of your agreement.
Things to keep in mind:
To get the extension, you don’t need to submit additional documentation. Only your claim to have a coronavirus-related financial hardship will be required.
During the time of your forbearance, additional fees, penalties, or interest will be waved.
You have the option to shorten the forbearance and continue to make payments at any time. Let your lender know of the change.
If you still haven’t asked for your mortgage forbearance, don’t worry… you may still be able to as long as the emergency declaration is still in effect. You can check with your local Orlando real estate agent to get informed.
What About Private Lender Forbearance Agreements?
If you have a mortgage through a private lender you’ll have to contact them and see what they’re offering. Because your lender will have their own set of terms and conditions, you’ll need to pay close attention to the fine print. For example, some private lenders may want you to pay a balloon payment for missed payments and interest.
During Your Forbearance
During the time of your Forbearance, while preparing for life after your forbearance expires, there are a few things you should be doing…
Maintain copies of ALL written documents pertaining to your forbearance agreement.
Check your monthly mortgage statements carefully to make sure there are no mistakes.
Pause auto-payments for your mortgage during your forbearance.
Carefully monitor your credit report for any errors and make sure your lender is reporting your status correctly
Prior to your forbearance expiring, be sure to have a plan in place with your lender for you to repay what you owe.
When somebody lists their house with a real estate agent, they always worry that the agent won’t perform as promised and they will be stuck with them until the listing agreement has expired costing your home valuable time and exposure on the market.
Most real estate agents require you to sign listing agreements that have a cancellation fee of several hundred dollars when the homeowner wants to terminate the contract with the agent they hired to represent them.
It’s for this reason that I use an “Easy Exit” listing agreement. This takes the risk out of listing your house and having to worry about us not performing.
When you list your home through our INSTANT AMNESTY Listing Agreement, there’s no risk to the homeowner. We are so confident that you’ll be happy with the results that we get you that you can cancel your listing with us at any time and NO CHARGE! There is NO cancellation fee in our listing agreement.
• You can cancel your listing anytime.
• You can relax, knowing you won’t be locked into a lengthy contract.
• Enjoy the caliber of service confident enough to make this offer. In my 8+ years as an Orlando realtor, the few times that someone has wanted to cancel a listing agreement with me was because they decided to keep the house instead of selling, it has never been for non-performance. When it comes to real estate, my skills and work ethic are among the best in Orlando and I have the track record to prove it. My confidence comes from thousands of successful real estate transactions and thousands of happy clients. The fact that most of our business comes from referrals from past clients says it all.
Whether it’s a traditional listing or an Orlando short sale, I get the job done no matter what.
Tired of your realtor not performing and wasting valuable time on the market? Give us a try, you have absolutely nothing to lose. Visit us at https://orlandorealtyconsultants.com/ or call us at 407-902-7750 so that we can discuss your best options. Jenny Zamora Lic. RE Broker
Si necesita contratar a un agente inmobiliario para que lo ayude a comprar o vender una casa, tenga en cuenta que a estos profesionales inmobiliarios se les paga a través de una comisión inmobiliaria. Entonces, ¿cuánto cuesta y por qué? ¿Se puede negociar esto?
Como un agente de bienes raíces en Orlando, FL desde 2004, por favor permíteme explicarte todo lo que necesitas saber sobre las comisiones de bienes raíces.
¿Cuánto cuestan las comisiones inmobiliarias?
En lugar de recibir un pago por hora o un salario semanal, los agentes inmobiliarios solo cobran si la transacción de bienes raíces se concreta.
Algunas agencias inmobiliarias cobran una tarifa fija por sus servicios, mientras que la mayoría de los agentes cobran un porcentaje del precio de venta una vez que se ha concretado la transacción. El porcentaje exacto puede variar; sin embargo, la mayoría de las comisiones inmobiliarias suelen oscilar entre el 5 y el 6% del precio de venta. Así, en una casa de $100,000, una comisión del 5% sería de $5,000.
Esto puede parecer mucho dinero, pero ten en cuenta que la comisión inmobiliaria se divide entre el agente del vendedor y el agente del comprador. Además, los agentes inmobiliarios no reciben ni un centavo hasta que la transacción se concreta... un proceso que puede tomar semanas o incluso meses de trabajo según el trato.
¿Quién paga la comisión inmobiliaria?
Por lo general, el vendedor de la casa paga el monto total de la comisión por el servicio tanto del agente de bienes raíces como del agente del comprador... a menos que el agente represente tanto al comprador como al vendedor.
Por lo general, los dos agentes se reparten la comisión inmobiliaria a partes iguales (50/50). Si una casa se vende por $100,000 con una comisión del 5%, cada agente inmobiliario se llevará $2,500. Sin embargo, esto también puede variar en ciertas situaciones, como si el agente de venta solo le ofreciera 1% al agente del comprador. En el sector inmobiliario, por lo general, todo es negociable.
Explicación de la doble agencia inmobiliaria
Si el mismo agente inmobiliario representa tanto al comprador como al vendedor, el agente se convierte entonces en un “agente dual” y recibe la cantidad total de la comisión inmobiliaria. Es por eso que a los agentes de listados les encanta cuando también encuentran al comprador además de representar al vendedor. ¡Hablando de un pago enorme!
Como un agente inmobiliario en Orlando, esto me ha pasado innumerables veces. Sin embargo, a muchos agentes inmobiliarios no les gusta representar a ambas partes porque los coloca en la incómoda situación de tener que trabajar para ambos compradores, lo que a veces podría convertirse en un conflicto de intereses.
¿Qué cubre exactamente la comisión de un agente inmobiliario?
Los propietarios sin duda tienen la opción de vender o comprar su casa “Sin intermediarios” (por el propietario), pero cuando descubren la tremenda cantidad de tiempo y trabajo que requiere, por lo general terminan contratando a un agente inmobiliario. Los agentes inmobiliarios ofrecen una amplia gama de servicios como: fijar el precio correcto de la casa, promocionarla [en el Servicio de Listado Múltiples, redes sociales, etc.], las negociaciones e incluso guiar a los propietarios durante el cierre.
Un agente inmobiliario con experiencia puede ayudarle a obtener el mejor precio por su casa mientras maneja todo el estrés que conlleva vender una propiedad. Se lo digo por experiencia... ¡los buenos agentes inmobiliarios se ganan el dinero que cobran!
¿Necesita pruebas? Eche un vistazo a estas cifras... Una encuesta nacional reciente realizada en 2019 encontró que un típico Venta por dueño La vivienda se vendió por $195,000, en comparación con los $245,000 que se habrían obtenido con la ayuda de un agente inmobiliario, según la Asociación Nacional de Agentes Inmobiliarios®.
Eso
significa que las viviendas puestas a la venta a través de un agente inmobiliario se vendieron por $50,000 más que
las que se vendieron sin agente. Quizás por eso un impresionante 92% de los propietarios recurrió a un
agente inmobiliario para vender su casa.
¿Son negociables las comisiones de los agentes inmobiliarios?
Como solía decir todo el tiempo mi
primer maestro de bienes raíces: “Todo en el sector inmobiliario
es negociable”. Aunque aquí en Florida lo normal es una comisión de 5% a 6%,
no hay ninguna ley estatal ni federal que establezca las tasas de comisión.
Esto significa que si desea vender su casa, ciertamente puede pedirle a su agente inmobiliario que reduzca su comisión; sin embargo, no están obligados a hacerlo.
Una cosa a considerar es la siguiente: su agente inmobiliario debe pagar la comercialización de su casa con la comisión que recibe después del cierre; una menor comisión podría significar un presupuesto de marketing más bajo para su casa, lo que podría traducirse en más tiempo en el mercado.
Dicho esto, no cuesta nada pedirle a tu agente que baje su comisión. A la mayoría de los agentes inmobiliarios no les ofenderá [¿a quién le importa si lo hacen?] y lo peor que te pueden decir es que no. Si andas justo con los números, puedes pedirles que te cobren una tarifa fija por ayudarte a poner la casa en venta, comunicarte con los compradores y redactar el contrato, pero no obtendrás un servicio completo por parte del agente o la agencia inmobiliaria con una tarifa fija. La mayoría de los agentes no ofrecen un contrato de corretaje por tarifa fija, por lo que tendrás que buscar un poco y estar preparado para hacer gran parte del trabajo pesado tú mismo.
Comprar o vender una casa probablemente será una de las transacciones financieras más grandes de su vida, así que asegúrese de encontrar un agente inmobiliario con experiencia en el que pueda confiar para hacer un gran trabajo. Este no es el momento de contratar a su sobrino que acaba de obtener su licencia hace 3 semanas...
Otras cosas que debes saber sobre las comisiones de bienes raíces
Cada detalle sobre la comisión de bienes raíces de un agente debe detallarse en el contrato de exclusividad de venta que usted firmó cuando contrató al agente. Un contrato de exclusividad típico también debe indicar cuánto tiempo lo representará el agente. Por lo general, un contrato de exclusividad en la Florida dura entre 90 y 120 días.
Como vendedor de una vivienda, usted quiere un agente inmobiliario que le consiga el precio de venta más alto y óptimo y los términos que desea, pero los mejores agentes inmobiliarios no son baratos. Como dice el viejo dicho con la mayoría de las cosas en la vida... obtienes lo que pagas.
Shakespeare once said that “all the world’s a stage”… this also includes the house you want to sell for top dollar. As a Agente inmobiliario en Orlando, I can’t tell you enough how much of a difference it can make to set the stage before revealing your home to the world.
Unless you’re an interior designer, staging a home is not a do-it-yourself type of task. Staging involves hiring professionals with talent and skillsets for interior design. A good stager will give your house a makeover that will make you think twice about selling. By using temporary furnishings and décor, your house will get more than its share of “oohs… and aahs…” from potential buyers doing their walk-through.
Quality staging is not like an insurance policy by any means and there’s no guarantee that your home will sell for more money because of it. However, It is a great and powerful marketing tool. Great staging should present your home in its most flattering light and will keep you at the higher end of the comps in your area. Have you ever heard of the saying “dress for the job you want, not the one you have”? When selling a house… when want it to be dressed to the 9’s to get the price you want.
Staging helps potential buyers to visualize what their life could look like living in such an elegantly decorated home.
Staging Leads to Great Listing Photos
Great photography is a must when marketing your home for sale. By having pics of a staged home instead of an empty or messy home, you’ll increase your chances of finding an online buyer 10 fold. Especially these days the majority of home buyers start their search by looking through online listings before hiring a Realtor in Orlando, FL.
Before Hiring Stagers Consider This
In addition to being Realtors, we are also Orlando real estate investors, we’ve bought and rehabbed many houses over the years. I can tell you from my own experience that staging does help. Like… a lot. There’s always one or two buyers that ask if they can also purchase the furniture and decorations.
Almost 80% of buyers’ agents claimed staging makes it easy for the buyer to imagine the property as their future home. It’s kind of like helping the buyer to dream it to achieve it so your real estate agent can make the sale.
40% of Orlando listing agents say that a staged home spends a lot less time on the market compared to an empty house. For you the seller, time saved could mean more money in your pocket and being able to move out sooner. Listing agents also claimed that staged homes will fetch a higher dollar amount… between 6-10%!
Some listing agents in Orlando will offer staging services to their clients but most of the time you’ll have to hire someone and pay for the staging yourself.
Professional home stagers will usually charge according to how many rooms you want staging. We pay roughly $700 per month when we stage a 3 bedroom 2 bathroom house which includes everything from the furniture to décor.
What about staging the house yourself?
If you’re on a tight budget, then hiring a professional may not be an option for you. If this is the case, check out some Youtube video tutorials on the subject to help guide you. If you have a friend or relative with really nice décor in their house, you may want to ask them for some staging ideas.
Declutter and clean at the very least
No potential buyer is going to enjoy walking through a messy or dirty house. Take the time to declutter and clean it like it’s never been cleaned before. Move some furniture into the garage if you have to, organize household items out of sight, and remove anything that makes a room look smaller. You should also change out any burnt light bulbs and have the carpets shampooed.
Keep the closets neat and organized
Make sure they can see the space, buyers always want to check out the closets. Remove some things if you need to rather than having that “stuffed full” look. Consider putting away personal items like family photos, religious pieces, and maybe some artwork to make the house look more neutral.
Only focus on rooms that count the most
You don’t have to stage your whole house to impress buyers. We find that staging rooms where people spend the most time will make the biggest impression on buyers. Staging the kitchen, Living room, Dining room, bathrooms, and Master bedroom is more than enough to make a buyer take notice.
Don’t forget to stage your yard
Curb appeal is super important for getting potential buyers through the front door. Make sure your yard looks the best it can. A freshly cut yard, manicured bushes, and some colorful plants can make a huge impact on buyers and set the stage for what the inside looks like.
