7 Reasons Why Now Is A Great Time To Buy A Home in Orlando

Why You Shouldn’t Wait To Buy A Home in Orlando

As a Realtor in Orlando, I’m constantly being asked by potential buyers whether or not they should wait to buy a home in Orlando…They ask me things like “Should I hold out for a great deal?”… “Am I better off renting?”. The truth is that no one can predict what the future holds and all we can do is see what’s happening now and see where things are going. In my opinion, people who are thinking about buying a home in Orlando, FL shouldn’t wait. Here are some reasons why…

1- Higher than normal rent prices- The rent prices in Orlando are getting higher and higher, even faster than median home prices. This is especially true with homes in Orlando and other parts of Central Florida. This means that if you’re able to buy now you’ll probably be paying less on a mortgage payment than you would in rent.

2- Mortgage rates are still low– If you have a decent credit score and a steady job, you’re probably in good shape to get favorable terms on a home mortgage.

3- Cheaper to buy than rent- If you can qualify for a mortgage loan and you can get a payment that’s less than you’re paying in rent, then it’s a no-brainer. This is especially true if you’re a first-time home buyer and can qualify for down payment assistance.

4- Low mortgage rates won’t last– Unfortunately, we are arriving at the end of an era of lower than normal mortgage rates combined with moderate pricing on Orlando homes. Home prices are expected to rise soon as are the mortgage rates.

5- Personal income levels are on the rise– Florida’s economy is strong which means unemployment rates are low and people are making good steady incomes. Studies show that Floridians are staying at their jobs longer which means they understand the importance of holding on to a steady job.

6- Demand still exceeds supply- This means that Orlando home prices will continue to rise. By waiting it will be more difficult to find the ideal home at a price that’s affordable to you.

7- Millennials are arriving at their home-buying years- Millennials represent a huge group of Floridians and now that they are entering their peak home-buying age it will surely tighten the supply of  Orlando homes on the market.

33778 Largo
32708 Winter Springs
32826 Orlando
32904 Melbourne
33624 Tampa
32828 Orlando
32905 Palm Bay
32765 Oviedo
32907 Palm Bay
32825 Orlando

32081 Ponte Vedra 19%
34211 Bradenton 18%
32832 Orlando17%
32163 The Villages 17%
34484 Oxford 16%
32162 The Villages 16%
33473 Boynton Beach 16%
34747 Kissimmee 16%
32227 Jacksonville 16%
32544 Hulbert Field 16%

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Att: Realtors in Orlando, New Listing in Avalon Park!

Attention Realtors in Orlando there’s a new listing in Avalon Park!

114454 Golden Tree Rain Blvd, Orlando, FL 32828

Realtors in Orlando will be clamoring to see this one! Are you looking for a Move-in ready, affordable home in the much sought-after community of Avalon park? Then look no further… your search ends here… Drop whatever you’re doing and schedule a showing before it’s gone! 14445 Golden Tree Rain Blvd is a beautifully designed and fairly priced home that’s completely ready to move in.

Move-In Ready!

This gem of a house boasts an open kitchen design making it the perfect spot for the whole family to gather while dinner is being prepared. There’s plenty of space for the kids to get their homework done or if you want to plan a dinner party with friends and family. The gourmet kitchen was designed to accommodate someone who loves to cook and bake. The aspiring chef in you will enjoy lots of counter space and cabinets that you’ll know what to do with. The stainless steel appliances are perfectly placed just right so you can move about the kitchen with ease as you prepare meals in your new home.

The generous master bedroom is large enough to fit a king-sized bed and the master bathroom is fit for a king and queen…with a separate shower and large soaking whirlpool tub to relax away your troubles. There’s also lots of room to get ready on those busy workdays with dual vanities and lots of counter space.

Young families will enjoy top-rated schools nearby and Downtown Avalon Park makes this a Desirable Community for everyone. Experience a wide range of shopping and dining options just minutes away from your new home.

Call or text 407-902-7750 now to schedule your private showing before it’s too late. Or visit us at https://orlandorealtyconsultants.com/contact/jenny-zamora-re-broker/

Property Specs:

2,298 Sq Ft.

4 Bedrooms

2 Bathrooms

2 Car Garage

Community Pool

Recreational Facilities- Park, Playground, and Racquetball

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Orlando Home Buyers Guide 2015

First-time Orlando home buyers are always bursting with questions about the home buying process, and they should be. Buying a home is one of the most if not the most important decisions of your life, especially if it’s your first time. For most people, the process can be overwhelming and even discouraging at times.


In a perfect world, your first home buying experience should be stress-free and enjoyable but chances are there will be a few bumps on the road to the closing table. However, with the right Orlando realtor in your corner, you can rest assured that any problems or issues that may arise will be handled diligently and professionally. 


Over the years, I’ve helped hundreds of first-time Orlando homebuyers through the process so I decided to put together a list of questions and suggestions designed to people prepare to buy that first home.

6 Steps To The Closing Table

  1. Pre-Qualify for a loan
  2. Find a house
  3. Submit an offer
  4. Secure your financing
  5. Appraisal & Inspections
  6. Close the deal


How Much Can You Afford?

The answer to this question is different for everyone. Lending institutions resolve how much you can afford by looking at your monthly gross income, existing debts, and your monthly mortgage payment by using 2 ratios. The first one is the front-end ratio which compares how much your monthly mortgage payment will deduct from your monthly income. The back-end ratio compares how much your entire debt payment will deduct from your monthly income.


The ratios differ a bit from lender to lender but a high credit rating may help you to get a larger loan than would be normally allowed. I would advise any potential home buyers to consult with several lenders to see which one has the best rates and fees.


How Much $ Will You Have To Bring To The Closing?

The dollar amount that you will have to come up with to buy the house depends largely on the type of loan and the purchase price of the home. The first fee that you will be hit with is an earnest money deposit when your offer gets accepted. Inspections are also the responsibility of the buyer which can cost between $200-$800 depending on the size of the home and what kind of an inspection it is.


The down payment on your loan will be by far the biggest out-of-pocket expense. This is the percentage amount of the purchase price that you have to pay in order to receive the loan. There are several loan options available depending on which one you qualify. Buyers are typically required to pay for part of the closing costs on the transaction. These are fees associated with the processing of all the paperwork, notary fees, and other odds and ends provided by the title company. It’s common practice for the mortgage broker to provide you with an example of what the closing costs will be based on the size of the loan they qualified for.


 I always suggest that when homebuyers sit down with a mortgage specialist that they ask to be shown an example of what their closing costs would look like, based on what they qualify for.


  Make Your Wishlist

Put on paper what the perfect home will look like for you. Things like location, square footage, number of bedrooms, and bathrooms should be at the top of the list. Don’t let everything on the list be a deal-breaker. You don’t want to let your dream house slip away from you because the downstairs bathroom is a bit small when the rest of the house was wonderful. Remember that anything can be renovated to meet your taste eventually.


 What Will My Orlando Real Estate Agent Do For Me?

Your Orlando realtor is there to assist you during the home buying process from A to Z. Their job is to scour the MLS until they find you a list of homes that meet your needs based on your wishlist. Depending on the inventory that’s available, they will show you any homes that meet the criteria. When they do find a home that you love, it’s their job to negotiate the price on your behalf to make sure that you get the best deal possible. They will also prepare the purchase contract to make sure that it’s in your best interest. It’s your realtor’s responsibility to work directly with the title company, mortgage company, listing agent, inspectors, etc. to make sure that all the pieces of the puzzle fit together perfectly. They should keep you in the loop every step of the way while answering any questions you may have.

What Won’t My Agent Do For Me?

A real estate agent is not qualified to provide you with legal advice and should refer you to a real estate attorney if the situation requires it. A realtor won’t provide you with financial advice either like how much you should spend on a home. Realtors are there to provide advice, give you facts about the market and provide you with all the information you need for you to make an educated decision.


At the end of the day, you the home buyer will be the one paying the mortgage, not your realtor, so the final decision has to rest with you. If your agent is doing anything to make you feel uncomfortable or pressured to make a decision, then either set them straight or hire another realtor.


Closing Costs, What’s That?

Closing costs are fees that are associated with the closing of the transaction not including your down payment. These costs include title ins policies, recording costs, appraisal, courier fees, lender fees, etc. Typically closing costs will run anywhere from two to three percent of the home’s purchase price. Closing costs are usually paid for by the seller and the buyer depending on what was agreed upon.


Inspections And Appraisals

A buyer should always have a home inspection done as soon as the contract has been accepted. The home inspector should address all the structural components of the home as well as things like the electrical, plumbing, A/C, roof, insulation, and appliances. This will give you peace of mind of knowing if everything’s in good shape or not.

Appraisals are a much more in-depth version of an inspection and it’s used to determine the value of a home. Many times, the value and the sale price don’t match up. The appraisal also ensures that the home meets FHA standards and is fully functional. This is beneficial for the buyer and also helps to protect the bank’s money.

What About Down Payment Assistance?

There are several down payment assistance programs available in Florida, one of the most common in Orlando is through Orange County.  The amount of assistance available is from $7,500 to $10,000 and applicants have to complete a homebuyer’s education program, as well as secure a first mortgage and the property must be located in Orange County.

As an Orlando real estate agent, I have helped countless first-time home buyers reach their goal of homeownership. If you need help finding your Orlando dream home contact me, Jenny Zamora at https://orlandorealtyconsultants.com/contact/



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Orlando Housing Spurs as Consumer Confidence Pick Up Speed

2014 was a significantly sluggish year for the Orlando real estate market. Consumer activity, as well as confidence in the industry, proved to be rather low. But things are changing nationwide and the top Orlando Realtors say “The City Beautiful” will see more consumer activity in the months that lie ahead.

Momentum expected to increase in housing

A report by the Commerce Department showed that the number of new housing projects in the nation jumped by 13.2 percent, far exceeding the forecasts made by the analysts previously. Further, permits filed for buildings nationwide rose eight percent and stood at a figure of 0.7 million more than what was previously expected.

Locally, real estate agents in Orlando explain that demands for new construction work rose because of banks easing up on borrowing costs and their strict credit conditions. Increasing job growth across the nation and the aid of federal stock markets has resulted in improving consumer confidence. All factors together, realtors say, have spurred up the housing market.

In Orlando alone, realtors say they have seen more prospective buyers enter the market in April than in the months before, further increasing the demand for builders. So, the next few months are going to be marked by increased housing momentum.

Factors responsible for the effect

An increase in housing inventory may just be one of the biggest reasons why more buyers are venturing into the market. With the U.S. housing inventory reaching a near two-month high, affordability conditions have improved for many buyers.

Listing agents in Orlando reveal that April witnessed a 16.8 percent increase in the number of previously-owned houses, up for sale. Further, improving jobs and the overall economy as well as lower costs of borrowing has enabled more people to become buyers. The rates of standard 30-year fixed mortgage averaged 4.14 percent – the lowest in close to nine months.

In April, sellers received 5.2 percent more for their existing homes, in comparison with figures from 2013. The median price of such houses was recorded as $210,700 in April 2014. Of the total number of sales closed, 17.5 percent were from properties valued under $100,000. 44 percent of the properties sold ranged from $100,000 to $250,000.

Retailers like Lowe’s Cos. and Home Depot Inc. are in fact forecasting in favor of improved sales after more consumers began making use of the spring buying season. It’s a great time for buyers as well as sellers, realtors add.

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