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Testimonial For Jenny Zamora, Orlando RE Broker

Publicado el por Jenny Zamora

This is the story of Irene Mazza. When she first came to see us, she had a rental property that was costing her $150 per month and was ready to just let it go to foreclosure. We sat down with Ms. Mazza and explained her options to her. After hearing about all of the options available to her, she decided on a loan modification.

We’re happy to report that not only did we help her get her home loan modified, but she is now instead of losing $150 every month, she’s making  $300 per month on her rental property.

Don’t take our word for it, watch the video and you can hear it right from her.

Testimonial for Jenny Zamora, Orlando RE Broker

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Orlando Homes Face Tougher Mortgages

Publicado el por Jenny Zamora

Prospective home purchasers have observed a significant price shift in house prices in the metropolitan Orlando area. This is coupled with a rise in mortgage rates and tougher mortgage rules for customers who carried substantial debt all through 2013.

Painful increase

According to Realtors en Orlando, Orlando homes put up for sale in the market have seen a sudden 20 percent increase in their listed price. According to Orlando Regional Realtors Association, buyers who bought a home for the first time at the fag-end of 2013 within 85 percent of the median price, and with a 10 percent down payment, were liable for an approximate monthly mortgage payment of $626, excluding insurance and taxes. This can be compared with the 2012 first-time buyers who paid just $453. As per calculations by Orlando real estate agents, the increase in mortgage payments will saddle homeowners with an extra $2,000 a year when it comes to housing expenses.

This is evident in the words of Teresa Myers, a Cocoa resident who has been searching for an Orlando house to reduce her husband’s commute time. She has informed the realtors in Orlando about her $200,000 budget and is still looking for an ideal home.

Adding to the woes of the buyer is the fluctuation in Orlando mortgage rates. The mortgage rate in Orlando has fluctuated all through 2013 for the fixed-rate 30-year mortgage, climbing from 3.46 percent in December 2012 to 4.57 percent in December 2013. According to economists, the mortgage rates in Orlando and also in the rest of the country will rise to five percent by the turn of 2015.

New mortgages harder to get

According to the US Census Bureau, homeownership in the Orlando metro area has reduced from 71 percent in 2008 to 63 percent in third quarter of 2013. Thus, a number of residents are finding it more convenient to rent a home than to own one. This makes more sense for would-be home buyers due to the new restrictions on mortgage qualifications, which were made effective from January, 2014.

New rules were introduced by the Consumer Financial Protection Bureau, which disqualify buyers from getting a standard mortgage if their credit card, auto payments and other debts totals 43 percent or more of buyer’s monthly gross income. The debt to income ratios of prospective homebuyers could reach as high as 50 percent in previous years.

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Florida Real Estate and Housing Markets Revel as Late Mortgage-Payment Rates Drop

Publicado el por Jenny Zamora

According to a recent report released by the credit bureau TransUnion, Americans are taking care of the timely payments of their mortgages so much so that the rate of late home mortgage payments has reached a record five-year low. The report, released Wednesday, February 12, reveals that compared to the 5.8 percent delinquency rate in the fourth quarter of 2012, rates improved to become only 3.85 percent in the fourth quarter of 2013.

Key takeaways from the report

 

Apart from being lower than the rate same time last year, the late mortgage-payment rates were also lower than the same year’s third-quarter rates, when 4.09 percent of homeowners were at least 2 months late in their mortgage payments.

TransUnion reveals that the last time mortgage-payment delinquency rates were lower than the current rates, was five years ago – in the second quarter of 2008. And even though the current rates are still twice as much as the rates in 2007, before the housing bubble burst, TransUnion holds that foreclosures will continue to thin down and delinquency rates reduce even further.

The growing job market, lower interest rates, and tight supply are reasons behind the improvement

 

The improving job market, state and federal government incentives to revamp home loans and make them more affordable as well as rising home values are at the core of this improvement.

agentes de bienes raíces say that rise in property values has been a staple for most U.S. states over the past couple of months and struggling homeowners have also found comfort at the hands of increased job opportunities. The interest rates on home loans have reduced, lending a hand to the housing rebound which was primarily fueled by the tight availability of homes for sale.

Further, the U.S. unemployment rates have dropped and though slow, the growth of jobs has been steady. With several federal and state incentives like that by Florida, job prospects are only getting better.  Upcoming housing markets like those in Florida have greatly benefited from these incentives. Top Orlando realtors, for example, reveal the Bienes raíces en Orlando industry found several buyers because of Florida’s incentive to entrepreneurs to set up offices and jobs in the state.

The low rates of late mortgage payments have another key driver – the discount on unhealthy home loans that were primarily issued before 2008. Most of these risky mortgages, that went unpaid for a long time were either sealed off and foreclosed by banks or sold to other wealthy buyers. Post the economic downturn of 2008, banks became more strict in lending. Only strong loans that banks were confident about have been passed since then – accounting for a major reason why late payments dropped sharply.

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The 6 Most Common Pests That Can Invade Your Home And How To Prevent It From Happening

Publicado el por Jenny Zamora

No one wants their home invaded by pests, and sometimes it can be a major problem before it is even noticed inside the home. Here are a few of the most common household pests and how you can keep them outside where they belong:

Ants

Ants enter homes to find water, sweets or greasy foods. When one enters, you can be sure more will follow due to the chemical trail it leaves. Unfortunately, it’s hard to see just a couple of ants on your floor or counter, and by the time you find them, it seems like there are thousands. To prevent ants, make sure all cracks and openings are sealed. Clear up any moisture problems, and keep areas where food is prepared or stored very clean. Clean up crumbs on the floor and counters more often. If they don’t have something to come in for in the first place, it won’t be as big of a problem.

Termites

Usually, homeowners are unaware of termites until they have caused significant damage. They feed off of your home’s foundation, weakening it and other wooden structures. It is important that the wood in your home does not contact the soil. This gives termites easy entry. Leaks and standing water should be taken care of promptly. If you do have termites, getting the help to rid your home of them is essential to making sure they are all eliminated, suggests professionals who specialize in pest control.

Mice

While mice usually enter your home looking for food, they contaminate much more than they take. They often bring additional pests with them such as fleas or ticks. To prevent mice, all openings must be sealed. Mice can get through the smallest holes and cracks. Mousetraps work well to eliminate one or two visitors. If you have more mice, consider calling a professional.

Fleas

Fleas can carry disease which make their presence in your home particularly disturbing. Unexplained, itchy bites on humans or a pet that scratches itself incessantly are signs that you may have a problem. To get rid of fleas, first treat the main problem, which is likely your pet. The next step is to thoroughly clean your home, and there are products you can buy at most stores to help rid your home of fleas.

Bedbugs

Bed bugs are difficult to spot since they can hide so easily in headboards and tiny cracks. While they do not carry disease, they do feed from humans and cause welts with their bites. They are carried in from the outdoors on shoes or luggage. To get rid of bedbugs, a thorough cleaning and vacuuming is necessary. All bedding must be washed in very hot water to kill bed bugs that remain. You can buy products to spray around your bed to prevent them from returning.

Stinkbugs

Stink bugs, so named for the horrible smell emitted when they are crushed, become plentiful in the fall. Vacuuming is the best way to rid your home of stink bugs. Commercial, non-toxic traps are available as well.

There is no reason why you should have to allow uninvited visitors into your home. These tips will help make and keep your home pest-free.

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Real Estate Purchasing Tips and Guidelines

Publicado el por Jenny Zamora

First-time homebuyers of homes tend to miss out on vital clues on the market, thus leading to bad decisions. The following tips will give you the necessary hints to pay attention to so you’ll make your purchase safely and prudently:

  • Check out the prices of homes around the area you’re aiming for. You can do that through a number of easy-to-use websites around the internet. On the other hand, you can contact realtors there the old-fashioned way for more hands-on information.

  • Choose the ones you need based on their affordability. You should do a fair bit of calculation just to make sure you have your finances checked out and on track.

  • One thing you need to focus on is the total price of the housing costs you need to cover each month. If you want to get a good feel of the sum you’ll have to deal with you should calculate the taxes and insurance as well. Depending on the area of the property you’re going for you may have to deal with taxes and insurance that outweigh the mortgage itself so keep your eyes open. Focus on checking properties in an area where you plan on living or buying and call up a local insurance company for an estimate that fits. It would be a good idea to have some information on what you’ll be dealing with once you have your property. There may be ways to take advantage of exemptions and tax laws so make sure you never miss that crucial step.

  • Check out how much you’ll need to pay when you’re closing the costs. The costs of settling should also figure into your calculations. This means you’ll need to cover fees such as settlement, Orlando homeowners insurance, taxes and lender fees as well as the title. Do a bit of research on the subject as these may have changed in time.

  • Check your budget and decide how your new house fits into all of it. Make sure you settle some money aside so you won’t have to deal with financial fallout if things go out of hand with expenses.

  • Talk to real estate agents in your area about the possible changes in the local market. You might get some very useful information that way so you’ll get to find a good reason to buy the property you need.

  • In the end you’ll need to have a solid plan that encompasses the entirety of the picture you’re dealing with. Although purchasing a property might be a great way to settle down, it also has its costs and labor involved. Make sure you keep these upkeep costs in mind and stay focused while you draw your plans.

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