Tag: John Conde realtor

Orlando Real Estate makes top 5 in the country list for booming markets

Posted on by Jenny Zamora

 ORLANDO   # 5

A recent ZipRealty report has put Orlando real estate in the No: 5 spots in a list of booming real state locations in the United States. All of the 10 markets featured in this list have been hand-picked for their excellent public schools. Orlando owes its 5th position to the highly reputed Seminole County Public School which holds a score of 7.8 on a scale of 1 to 10. The ZipRealty report also indicates that Orlando home prices have witnessed a 26% year-on-year rise to nearly $145,000.

 Accessibility to good schools has always been a top priority consideration for home buyers who are looking to relocate and Orlando clearly has what it takes in this respect. Companies hoping to recruit the cream of the available talent often highlight the excellent schooling available to attract skilled employees to its ranks. This could be great news for sellers who are looking for good Orlando short sale opportunities since it means that more buyers may be viewing this location favorably. In fact, the appearance of Orlando on this top 10 list can make the job easier for short sale realtors representing sellers.

 Chinese Show Interest in Orlando Properties

 A recent trend also indicates that buyers should view Orlando’s properties favorably. International investors appear to be keen on buying real estate here. The Chinese, in particular, who have been investing in key locations across the United States in recent times, are also adding Orlando to their list of possible investment destinations.

 In fact, a Hong King based firm, Gaw Capital Partners has plans to raise $500 million to invest in commercial property in Orlando among other places. The fund’s manager describes Orlando as an ‘innovation center’. If investors like these increase their attention on Orlando properties, the housing recovery is bound to get impetus and in turn, prices are likely to move upwards. For sellers in need of a short sale, achieving a reasonable price for their property may become easier in such circumstances.

 An increase in Flood Insurance Premium may Impact Housing

 On the negative side, analysts are worried that the increase in flood insurance premiums may dampen the enthusiasm for properties in low-lying areas across Orlando. Many have predicted that the rate hike will subdue housing recovery here and/ or cause a decline in property values. In the words of Governor Risk Scott, the unfair consequences of the National Flood Insurance Program reforms could devastate real estate values across all of Florida. However, as experts point out the rate hike is likely to impact only specific pockets within Florida where the wealthiest of the State’s denizens reside.

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How Does Your Credit Score Affect Your Mortgage?

Posted on by Jenny Zamora

 Before you apply for a mortgage to buy your dream home, check your FICO score. It is a key determinant of the interest rate that lenders are likely to offer you. A good FICO score makes you a less risky borrower in the eyes of lenders. Naturally, they’re willing to earn your business by offering you a competitive rate of interest. A lower interest rate translates into savings amounting to thousands of dollars over the life of your loan. So, pause, and think if you should improve your credit score to become a favored borrower, or go right ahead as your credit history is nothing short of impeccable. To make this decision, these tips may come in handy.

–          A credit score of less than 550 makes you a deep subprime borrower; you may find it hard to get a mortgage or bear a high-interest rate and stringent and/or inflexible terms and conditions

–          A credit score between 550 and 620 makes you a risky, sub-prime borrower

–          A credit score between 680 and 740 makes you a less risky, prime borrower

–          Any score over 740 makes you a super-prime borrower; you are highly likely to be offered the lowest mortgage rates available.

If you’re looking for a home in Orlando, Fl then you should hire an experienced Orlando Realtor to help in your search. We dedicate ourselves to helping people buy and sell Orlando, Fl real estate.

 

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Orlando Realtors Going back to Basics

Posted on by Jenny Zamora

 

 

The Orlando housing inventory is at its lowest level in over a decade and buyers are constantly competing for a limited supply of homes. The lack of sellers in the market is forcing real estate agents to go to extremes that they would normally not go to in order to try and get more listings. Hungry real estate agents are going back to old-school real estate marketing techniques in order to get more listings.

 

Orlando Realtors are once again pounding the pavement for new listings. I know one agent that parks his car on a street located somewhere in his farm area and starts knocking on doors or putting outdoor flyers with his info on it. according to him, he’s lucky to get one listing out of every 20 doors that he knocks on. I personally think he’s insane and don’t like this way of marketing because it’s an intrusion of privacy. Let’s face it…Everyone hates an unannounced visit AKA the “Pop-in”. Besides, if I’m in my yard minding my own business or doing something in the yard, the last thing I want is a stranger coming up to me and asking me if I’m interested in selling my home.

 

Hungry real estate agents are going back to basics in marketing like calling on expired listings and “For sale by owners” with the hope that they are able to convince the homeowner to list the property with them. Other agents are resorting to sending out mass postcard mailers to entire zip codes praying for more listings. These conditions are not only affecting newer agents but experienced agents as well.

 

Another reason that I think is contributing to extremely low inventories right now is that homeowners who have a bit of equity are keeping their homes off the market. They figure that they’ve gone through the worst of it and they believe that prices will continue to rise for the next few years and intend on cashing in when it happens. The problem with this strategy, however, is that no one can predict what will happen with Florida’s real estate market and people that wait too long, will wait themselves out of making a profit from the sale of their house.

 

The reality is that if sellers aren’t truly motivated to sell, then they’re just not going to and I believe that it’s wrong to try and convince somebody to try and do something that they really don’t want to do.

 

Lenders that are holding on to thousands of REO properties are also reluctant to sell because they’re afraid of hurting prices. And when banks finally do release the properties into the market, they’re snatched up by the dozen by large investment firms. Most of the time, they never even hit the MLS.

 

One thing that I learned a long time ago about the Orlando real estate market is that you have to learn to adjust to the market which also means adjusting your marketing strategies, take what the market gives you. Over the years I’ve seen real estate agents that refuse to change their marketing as the market changes and most of them are now no longer realtors. You have to go with the flow if you’re going to survive by buying and selling real estate.

 

 

Orlando Real Estate Broker

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Orlando Real Estate is Flipping Hot!

Posted on by Jenny Zamora

Orlando real estate is once again providing some of the best market conditions in the U.S. for house flippers to make a fat paycheck. Homes are in serious demand and prices keep rising. For smart investors, this means big money. The practice of buying homes and then rehabbing them to sell for a big profit reduced drastically during the prolonged downturn after the real estate market crash of 2007. Within the last two years or so, we’re seeing the Orlando Real Estate market get increasingly hotter. 

With home prices climbing again and buyers circling for deals like sharks in bloody water, rehabbers are again flooding back into the market to capitalize on the appreciation.

We’re also seeing a tremendous opportunity for people or companies that are able to buy houses in bulk, then turn around and flip them. It’s obvious that Orlando has completely changed to a seller’s market.

The company RealtyTrac analyzed over 700 metro areas in the nation where single-family homes were rehabbed and flipped last year. Then they selected the top 25 areas based on the gross profit as a percentage of the original sale price of the property.

Orlando’s ranking came as a result of over 2,500 single-family homes that were flipped in the past year, that’s over an 85% increase over the homes that were flipped in 2011-2012.

The average purchase price of those properties was around $120,000.00 with an average sale price of around $155,000.00. That means a $35,000.00 average gross profit on those flips which translates into a 32 percent yield according to RealtyTrac.

Do you want to see just how much your house is worth?   Visit us here at https://orlandorealtyconsultants.com/ to use our Home valuation Tool

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Top 5 Mistakes in Choosing a Short Sale Realtor

Posted on by Jenny Zamora

Choosing the right realtor to sell your home is something that you should take very seriously. The sale or purchase of a home is one of if not the most important transactions that a person will ever be involved in within their lifetime. So what if you’re in need of a short sale? Then you really need to be careful because short sale listings are a completely different animal than traditional listings. There is a lot more work involved with completing a short sale and that’s just the beginning. Realtors that specialize in doing short sales have to be highly skilled negotiators and have to possess a “never give up” attitude in order to be successful.

Following is a list of 5 things that homeowners should look out for when hiring a realtor to do their short sale.

1- Realtors that only work part-time- It’s hard enough to work a short sale as it is. Imagine if your short sale realtor had another job during the day when the lenders are working. Part-time realtors have no business working with short sales because it can take twice as long to get it done and when you’re doing a short sale, time is of the essence. Lenders can still continue with foreclosure proceedings even during the short sale process.

2- Realtors that outsource all the work- There are some realtors out there that don’t care for all the extra work that a short sale requires of them so they outsource their short sale files to a third party. I personally would never do this because I think it’s unethical and misleading to the homeowner. If a realtor is advertising themselves as a short sale specialist or expert then I feel that realtor should do all the work, not someone else. Don’t get me wrong, it’s important to have an assistant or processor in your office to help move things along, but this is very different than outsourcing the entire process to a third party. Also, third-party negotiators will add extra fees to a short sale which can cause the deal to fall apart entirely. Make sure to ask the agent if they are going to work on your file or will it be outsourced to another company.

3- Insist on weekly progress updates- Homeowners that are in pre-foreclosure are stressed out enough about their situation as it is. Imagine how much more stressed a homeowner will be if they have no clue about what’s going on with their house. It’s important that you make things clear with the realtor up front by getting them to commit to weekly updates with your file even if nothing’s happened on any particular week. If the realtor can’t commit to keeping you “the homeowner” in the loop every step of the way, then you shouldn’t hire them.

4- Check their track record- Research the agent to see what they’ve accomplished in their real estate carer lately. A good short sale agent should be working with several files at any given time. Also, find out how many short sales they’ve completed in the past six months or year. An agent that’s good at doing short sales should have at the very least, three happy clients that would be willing to tell you all about their experience with that agent.  If you’re their only short sale client then seller beware!

5- Interview Several agents before choosing one- There are a lot of great short-sale agents out there which means you can afford to interview a few before making your choice. Pick at least two or three that satisfy the checklist above and see which one you feel would do the best job for you according to your needs. Remember, this person is going to be handling the sale of your home from beginning to end. Make sure that you feel comfortable with them. Just because a real estate agent is great at doing short sales, it doesn’t necessarily mean that’s the best agent for you.

Orlando short sale expert

 

 

 

 

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