Tag: Orlando Real Estate

The Difference between a Short Sale and a Foreclosure

Posted on by Jenny Zamora


Short Sales and Foreclosures are Very Different Situations

Most people who have never been through a short sale or a foreclosure, think it’s the same thing. Although short sales and foreclosures have a few things in common, they are both very different scenarios… especially when you’re the homeowner going through it. Doing a short sale will always be better than letting your house go to foreclosure just to avoid the damage to your credit among other benefits.

What’s a Short Sale?

A short sale occurs when a homeowner can no longer afford to make the mortgage payments to their Bank, and they have to sell the home for less than what’s owed. Many times, homeowners are already in active foreclosure when they decide to try and short sale the property. The homeowner must also prove to the lender they’re going through some kind of hardship affecting their ability to pay.

Even if the homeowner meets all the criteria of a typical short sale, it must still have the final approval of the lender. The majority of lenders will opt for a short sale instead of taking a homeowner through a costly foreclosure process.

Benefits of a Short Sale

Avoid Foreclosure- A foreclosure can damage your credit for up to 7 years whereas a short sale will have much less of an impact.

Eliminate your Debt- Eliminate your debt with the bank for good. Be sure that your short sale realtor tells the bank that you’re not able or willing to repay the entire amount of the deficiency.

Cash Back to Sellers Many banks offer cash-back programs so they have money to relocate to another home.

Why would my Bank agree to a Short Sale?

Banks don’t make their money by foreclosing on homes. They lose money… taking a mortgage holder through a foreclosure takes is expensive and can take a long time. Lenders also realize that if they do foreclose on the house, they’re just going to have to list it and end up taking a loss anyway.

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8 Factors That Increase Your Orlando Home Value

Posted on by Jenny Zamora

 

Are you looking to buy an Orlando home and make a smart investment at the same time? Be aware of these important factors as identified by Realtor.com by analyzing millions of home sales throughout the country.

Having Fewer Bedrooms- As an Orlando realtor, I was surprised when I first read about this. Homes with 1 bedroom experienced an increase in appreciation of over 7% since 2012. Homes with 2 bedrooms have increased by 6.6%, 3 bedroom homes 6.3%, and 4 bedrooms was down to 4.9%. This just goes to show how popular down sizing has become in our country.

Bigger is not always better- especially when it comes to Orlando real estate. past 5 years have been a strong indicator that smaller homes  are more popular than ever among baby boomers as well as first time home buyers. Statistics show that homes smaller than 1,200 square feet have gone up by an average of 7.5% each year and larger homes [ over 2,400 sq ft] have only seen a 3.8% increase.

Open floor layout- These days everyone loves an open floor plan and so the more sought after something becomes, the value it will have. Homes in Orlando with an open floor plan appreciate an average of a whopping 7.4% per year. You can sometimes change your floor plan depending on if the walls you have to remove are load bearing or not. Upgrades such as granite counter tops and stainless appliances only experienced a 2-3% appreciation.

Having a view- Homes with a nice view across the country have increased between 4.9% – 7.9% over the past several years. If your fortunate enough to buy a home with a pretty view, you can always expect to enjoy a bit more appreciation on your home than your neighbor without one.

Modern design- With the exception of a small percentage of buyers who prefer older homes, newer more modern styled homes will always be more desirable for the majority of buyers. As a matter of fact, newer homes with modern designs have been rising an average of 7.7% per year. Bungalows are 2nd at 6.5%, traditional 5.6%, ranch homes 4.5% craftsman 3.7% and victorian at 2.2%.

Homes with 2 car garages-  Orlando homes that have space for 2 vehicles have had an increase of 6.4% per year Vs homes with a one car garage at 6% increase. And believe it or not homes with 3 car garages only saw an increase of 3.8% annually.

Being in the city- This was another one that surprised me a bit, but I guess I’m a little bias. Homes that were in or close to the city near mass transportation had an increase of a whopping 8.4% in value where as homes in the suburbs in good school districts and shopping areas only increased by 7.2%.

 

 

 

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Encore Club Short Term Vacation Home For Sale

Posted on by Jenny Zamora


This is a gorgeous short-term vacation home located at the one and only Encore Club at Reunion Resort! Come see this Beautiful six bedrooms, six bathrooms smart home just minutes from Disney World.  It features beautiful granite countertops throughout, an in-ground pool, and a spa. Walk up the brick paver driveway to a double car garage and a beautifully landscaped design.  

Step inside and you will find two stories of fully furnished luxury from the floors to the vaulted ceilings. The open kitchen overlooks the dining space and living area with a relaxing pool view. A spacious family room gives plenty of room for the whole family to gather and spend some quality time together without feeling crowded. The covered lanai overlooking your private pool may quickly become your favorite place to sip morning coffee and relax.  

Encore Resort guests experience the Best of everything: relaxation, excitement, and luxury. The resort community pool features water slides, a splash pad, beach volleyball, and other beach-side amenities. The indoor recreation includes large screen TV, gaming systems, snack market, and arcade room.   Guest Services will assist with anything from scheduling transportation to catering as well as help you navigate the monthly resort community schedule.

Located within minutes to Disney World, Universal Studios, Seaworld, International Drive shops, and much more! Excellent opportunity to expand your current portfolio of short-term rental properties which can be self-managed or use the services available within the community.   If you’re looking to make a solid investment in a short-term vacation home, then this is it! With several bookings already in place for the remainder of 2018 and into 2019 this home purchase is a no-brainer.

Call or text 407-902-7750 to schedule a showing today or visit https://orlandorealtyconsultants.com/

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5 Ways To Get Noticed In A Seller’s Market

Posted on by Jenny Zamora


Are you looking for an Orlando home in a neighborhood where there’s little or no inventory? And if you do find one that meets your criteria are you ready to be faced with a bidding war? That’s typically what happens in a seller’s market, especially in the most sought-after neighborhoods in Orlando.

Here are a few tips that will help you to maximize your chances of finding yours and getting it under contract.

  • Make your search a top priority. If you really want it, you have to go for it. Have your Orlando Realtor set up email alerts for you. This way every time a home that meets your criteria hits the market, you’ll be one of the first to know. You should be ready to go see it immediately, don’t wait for the weekend to come around because it will probably be under contract by then. Also, be ready to make a quick decision, not doing so could cost you.
  • Get pre-approved by a lender and bring your pre-approval letter with you whenever you go see a house. A seller will take you more seriously if you show them that you mean business and you’re not there to waste their time. This will give you a huge advantage over a buyer who hasn’t taken this step yet.
  • Consider waiving the contingencies. The typical home buyer will put contingencies in the contract in order make sure they don’t lose their deposit as well as making sure their financing gets approved. For example, if the home doesn’t pass inspections, they can back out. Waiving the contingencies is always attractive to buyers but it’s not recommended for every buyer. Consult with your Orlando Realtor before considering this as an option.
  • In a seller’s market, sellers have the advantage. Don’t send in a low ball offer on a home that you know is worth the asking price, because you’ll likely end up losing it to buyer willing to pay full asking price. Figure out how much you’re willing to go up to within your budget and bid aggressively.
  • Tweak your criteria when searching. Consider going further outside your search area and look at homes that may need some remodeling or updating. By doing this you’ll not only have more options, but you could even end up getting a better deal, especially if the home needs some repairs.

If you’re looking for a house to call home in Orlando, FL, or even an investment property, call or text us at 407-902-7750 for a free consultation. In the meantime feel free to use our Orlando Home Search Tool.

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10 Creative Ideas To Help Sell A Home

Posted on by Jenny Zamora


Orlando Real Estate Marketing Ideas

Whether your home is in great condition or it needs a ton of work, the key to selling is a great marketing plan. As a motivated seller, you want your home to stand out among your competition to potential buyers in any way that you can.

A strong basic marketing plan is good…. but not good enough. There are a lot of little things that are often overlooked by Realtors. These real estate marketing tools take a bit of extra time and effort to prepare but they can have a huge impact on getting your Orlando home sold for top dollar.

If you team up with the right Orlando Realtor who’s willing to put in the extra effort, everybody wins!

These are some often overlooked real estate marketing ideas that have served us well and incorporated into your marketing plan.

Create A Floor Plan

By creating an attractive and professional-looking floor plan which represents your home, buyers get a clear picture of your property at a single glance. In addition to having paper copies available, take it a step further by making it available online.

A floor plan isn’t hard to make either… Your Orlando Realtor should be able to do this for you at no charge. After all, it’s going to benefit them as well by making your home that much more buyer-friendly.

Create A Professional Video

Video is more popular than ever and only continues to trend upwards. Just go to Facebook and you’ll see more videos than images. A professional-looking video tour of your home is important in selling an Orlando home these days.

Our company Youtube Channel “Orlando Realty Consultants” contains a video for every one of our listings and has proved to be an invaluable tool in our home selling arsenal. A well-made property video will engage a potential buyer much more than text and images.

Your Orlando real estate agent should offer this service to you. If they aren’t using video as part of their home selling marketing strategy then you’re missing out on a serious amount of exposure to potential buyers.

 Provide Utility Bills

In my experience, only about ten percent of home buyers will ask for the seller to provide them with a copy of their utility bills so they know what their monthly expenses will be.  Instead of waiting for them to ask for this information, why not have it available before they even think about asking. Buyers will appreciate it … especially the ones that wouldn’t have even thought about asking.

Provide A List of Service Providers

Everybody loves convenience. They want to start enjoying their new home as soon as they get moved in and settled. If you have service providers that you are happy with such as lawn maintenance, pest control, house cleaners, etc… then share this information. Compile a list of service providers that you’re happy with and have it available to your buyers. This will show buyers that you care about your home and that it’s been well maintained since the time you lived there.

Home Owners Insurance Provider

Depending on how experienced home buyers are with the process, they may be clueless in some or even all aspects of the home buying process. Homeowners insurance is a big one not only in price but in service. If you’re happy with your homeowner insurance provider, then you should make your potential buyers aware of what company you’re using. You should even give them the contact info of whom you deal with. You never know, it could end up saving you a few bucks on your next house.

Neighborhood Info

If you live in a neighborhood like mine you’ll be dealing with a very strict homeowners association. It’s best to let your buyers know about the basics. Although this may seem unimportant to some buyers, others will most definitely appreciate knowing what to expect moving forward.

Local School Information

If you’re in a grade-A school district, you should make your buyers aware of that. Even if you don’t have any children of your own. Being in a good school district is advantageous for maintaining property values.  Also, let them know if the local schools have won any awards or are involved in anything else important within the community.

Public Transportation

Although it may not be important to you, it may be extremely important to the new homeowners. Things like bus transportation, train stations, bike paths, etc. are all great to have in your information packet.

Share What You Love About The Town

Provide a written description of the reasons you love your neighborhood. This should be easy to do because it taps into your emotional side… just as it will into theirs. Writing a well-prepared narrative about things you love most about your home and neighborhood is a fantastic way to add a personal touch….emotions sell real estate!

If you think that the above information will be useful in the marketing of your Orlando home, then here are a few more…

  • Touch Up Paint- provide the paint colors of both the inside and the outside of your house so buyers can easily maintain the paint or buy more of the same if need be.
  • Water Shutoffs- If your water shutoff valve is in an unusual place, let the buyers know in case they need to get to it in a hurry.
  • Trash Days- Inform the new buyers of trash and recycling days.
  • Appliance Info- Provide as much information as you can about your appliances including warranty information, etc.

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