Ask your Orlando realtor questions about your short sale

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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Florida incomes and Orlando real estate continue to rise

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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Orlando Real Estate, one of the Nations Highest in Asking Prices, but we won’t be Fooled Again!

 Orlando Real Estate is Hotter than ever right now

As of a year ago in August asking prices are up 8.6% which means that we are actually eighth in the nation, tied with San Jose California. This is good news for Orlando homeowners who elected to ride the storm out since the crash in 2007. These homeowners who have been wanting to sell their Orlando property but didn’t want to take a huge loss are now able to sell and even make a profit depending on how much they owe.

Orlando real estate Experts can speculate all they want to and try and predict what the future of Bienes raíces en Orlando will be, but the fact is that only time will tell. One thing that I always try to advise my clients about is to be very careful when buying Orlando Real estate, especially as an investment. Sure, buying Orlando realty as an investment can be a great idea if you buy it right and don’t let your emotions cloud you’re thinking.

Homebuyers should never depend on Orlando Real estate appreciating when making their decision to buy. This is where a whole lot of people got into a whole lot f trouble in past years. In 2006 people went into a frenzy buying up houses and condos in new construction properties in Orlando with an “I can’t go wrong attitude” thinking that they were going to make a killing. And the fact is that many investors did make a killing doing just that. But there were many more people that lost everything and have never recovered. I know this because working as Orlando Short Sale specialist, most of my clients are short sale clients. I’ve had clients that have had 20 and 30 properties and they now have  20 and 3o properties in default and upside down.

Orlando home buyers should never forget what happened in 2007

As hot as the Orlando real estate market is today, I really hope that people don’t fall into that trance again where they believe that Orlando home prices will only rise and can never fall, that kind of thinking is what got everyone into trouble in the first place.

If you’re thinking of purchasing a home in Orlando, consult with a proven Orlando Real estate expert so that you can make educated decisions on your approach to the world of Orlando Real estate investing.

Orlando Investment Homes

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The world of Orlando Short Sales may be coming to a screeching halt

What will happen to Orlando short sales if the Mortgage debt relief Act of 2007 is not extended?

Short sales have been very popular since the market crashed in 2007,  mainly because sellers have the benefit of not being taxed for the deficiency between the mortgage amount and the actual payoff. What people worry about now is that the  Mortgage Forgiveness Debt Relief Act of 2007  is about to come to an end at the end of  2012 and so far we haven’t anything about the government extending it.

What do you think would happen if the law doesn’t get extended? In my opinion, this would be the end of Orlando short sales as we know them.

When you think about it, what incentive would a seller have to do an Orlando short sale if they end up with a massive deficiency when it closes?  That’s right… there would be no incentive. In fact, I think that most people will just end up letting it go to foreclosure. This means that Orlando REO realtors would be busier than ever.

Deep down I truly believe that this law will be extended, it just makes good business sense for everyone involved… sellers buyers, and lenders. Orlando real estate is moving right now and a big part of that is because of the short sale inventory.

If you are considering an Orlando short sale on your house, don’t take a chance on the mortgage debt relief act of 2007 being extended. Consult with an Orlando short sale specialist and find out what your options are now or you might regret it.

Jenny Zamora, Lic RE Broker. Orlando Short Sale Specialist

Experto en ventas cortas en Orlando

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Homeowners Insurance Prices discourage people from buying Orlando Real Estate

Florida Homeowner Insurance companies are having a negative effect on Orlando Real Estate Sales

 

Even though the real estate market in Orlando is recovering in leaps and bounds, homeowners are not happy about the high price of Florida homeowners insurance. As a matter of fact, for some potential home buyers, it’s proven to be the  straw that broke the camel’s back.
 
 There are still great real estate deals in Orlando, but even if the price of  the property is affordable as well as  property taxes, etc., the homeowners insurance in some cases can be almost as much as a mortgage payment. That’s insane!
 
 

Citizens Insurance raising it’s premiums on Florida Homeowners

 The main reason for the high cost of homeowners insurance in Florida is the recent increase that Citizens has made to it’s premiums. Many times this will cause potential real estate deals to fall through or even worse, it puts the new homeowner in a position to fail because he went over budget, and potentially cause him to default on his payments.
 
 The state run Citizens claims that the had no choice but raise the premiums because they are supposed to be a last resort for people and now they are covering many more homes than the program was designed for. That’s not all, if massive hurricane were to hit Florida and deplete all the company’s reserves, all Floridians would get taxed thus hurting the state economy in a big way.
 
 
 Read the fine print when Buying Orlando Realty

When it comes to buying Orlando Real estate, there’s more than just deciding which homeowners insurance company you’re going to commit to. You have to read the fine print and be aware of everything that you’re committing to. So many first time home buyers  end up in hot water because the fail to understand exactly what they’re signing. Then there is another type of buyer, the type that wants to get into that new house so badly even though deep down they know that it’s beyond there budget.

That’s why you need an experienced Orlando realtor to walk you through the complexities of buying a home in Orlando. I personally will not allow a client to make what I know will be a bad decision for them. As Orlando real estate agents, we have an obligation to look out for the best interest of our clients and help them in any way that we can when it comes to buying or selling Orlando real estate.

 
 
Jenny Zamora. Lic. RE Broker

 

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