Priced to Sell! This unit is one of the Biggest in the building!
*1 Bedroom
*1 Bathroom
* 854 Sq Ft.
* Community Pool
* Fitness Center
Located in the highly sought-after Madison subdivision in Metrowest. This property is
very well maintained and move-in ready.
The Community Pool and Fitness Center is just across the street, making it very convenient to work out and go for a swim!
Call me to make your appointment TODAY! 407-902-7750
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Open houses are starting to become popular again. it seems that every weekend when I’m driving around in Orlando I see open house signs everywhere I go. It’s become a great way to not only showcase a new listing for Orlando realtors but also to market those problem listings that have trouble selling for one reason or another.
Sometimes, however, there are sellers that want to be involved with the sale of their house like showing a potential buyer around or even worse…being at the open house. As an Orlando Realtor, I tell my clients that it’s never a good idea for the seller of a home to get involved with interacting with potential buyers, especially at the open house.
1- Getting your home ready for the Open House. The most important thing that you can do to get your home ready for the open house is to clean and de-clutter. Go through and clean every surface in the entire house leaving it looking and smelling fresh. Also, if you have some pieces of furniture that you could move into the garage that day that would make the house look bigger or more appealing, then do it. Putting out some cookies or fresh lemonade is fine but you shouldn’t go overboard like hiring a live band or a D.J. These things would be more of a distraction than an attraction.
2- Don’t be at the open house. As the seller, you should be anywhere else but home on the day of your open house. You have to realize that realtors with their qualified buyers will be there looking and having serious discussions about your home, both good and bad. It’s a heck of a lot less awkward for them and the seller if the seller wasn’t there. You want potential buyers to feel comfortable and at ease when they go through the property. Sellers have to trust their realtor to showcase their home in the best way possible.
3- Make sure they can access every room. It’s called an open house for a reason. The goal is for potential buyers to enjoy free access to your entire home and visualize it as being theirs and hopefully fall in love. Don’t block rooms, closets, or yard gates unless it’s absolutely necessary. Don’t make the buyer have to come back another time to see it or you just might lose them.
4-Tell The Neighbors. It’s always a good idea to inform your neighbors about your open house. I can’t tell you how many listings we’ve had where a neighbor knew somebody who’s been wanting to buy in their neighborhood resulting in a sale.
I hope these tips were helpful. If you want to see how much your home is worth visit us at https://orlandorealtyconsultants.com/
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The Orlando real estate industry has been reveling the home-buying season in 2014. April 2014 marked a month of consecutive reductions in the rates of fixed mortgages. Rates of interest on the standard 30-year home loans dropped to their lowest level in the second week of April. The rates, the lowest since February, reduced again in the third week – increasing buyer activity in the industry.
Now, according to a new industry report, this year’s spring buying season commenced with a significant rise in the month-to-month sales of residential real estate property. According to industry experts, the month of March saw 17.28 percent more sales than February. Further, in terms of just the “normal” sales in February and March, the latter month outperformed the former by nearly 24 percent!
Realtors in Orlando will confirm the opinions of the experts – all major listing agents in Orlando reporting their hands full with residential buying and selling since the beginning of the season.
The median price of properties in Orlando was recorded as $160,000 in March 2014. Just a month ago, the rates stood 1.27 percent lower, at $158,000. The rise in median prices is being fueled by increased demand from prospective buyers – a trend characteristic of the spring buying season.
Realtors unanimously hold the spring buying season a good time to buy residential properties, especially for first-time buyers. According to the experts in Orlando short sales, the median rates of short sales in March 2014, witnessed a 4.59 percent hike from the value same time last year.
With the short-sale inventory expanding, the spring season is also expected to bring new opportunities for buyers who haven’t been able to find suitable deals yet. Compared to the number of foreclosed homes available for purchase in March 2014, a fairly large number of foreclosed homes were made available to buyers in March this year (125 percent more than in March 2013). Homes also spend lesser time on the market now, than they did a year ago. The average listing period in March 2014 was 76 days, compared to the 79 days in 2013.
Conditions in the Orlando real estate market seem to be ideal for residential buyers now. Banks are easing up on home loans, the rates of fixed and variable-rates mortgages are decreasing and the market has plenty of options in different price ranges. Further, with Florida’s diversifying economy and its growing reputation as a premium retirement destination in all of the US, many prospective buyers are showing foresight by investing in properties during the season.
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As the work on constructing a giant observation wheel at the International Drive is going on in full swing, the tourist corridor of Orlando has a lot of things to look forward to. The word was, that the overall project, that the observation wheel is a part of, is to be named the Orlando Eye 360 by its developers. The news was, however, brushed off by developers as they prepare to make an official announcement soon.
Merlin Entertainments Ltd. is working on a couple of attractions for the state and come 2015, the second-largest operator of visitor attractions in the world will unveil three attractions – the Orlando chapter of Madame Tussaud’s wax museum, the Orlando Eye and the Sea Life Orlando Aquarium.
The three attractions are part of a massive Orlando real estate project – the construction of a towering complex for shopping, dining and entertainment, that is being developed by NY-based Circle Entertainment Inc. and Orlando’s own Unicorp National Developments Inc. The multimillion-dollar Orlando Eye project on the International Drive (projected to cost over $200 million) is planned to be completed in phases – work in certain phases is already over.
For instance, the real estate agents in Orlando reveal that the International Drive will see Orlando’s first Yard House open for business on April 24. The popular restaurant adds to I-Drive’s impressive line of new and upcoming restaurants including Cooper’s Hawk Winery & Restaurant, BJ’s Brewhouse and the Red Robin. Local real estate agents believe that the Yard House alone would bring around 200 jobs to the I-Drive area in the form of servers, hosts, hostesses, line cooks and bar tenders to name a few. Not to mention, new and better dining options for the area’s tourist corridor.
The project was developed with Orlando’s tourism industry in mind. International Drive’s convention area will get some much-needed entertainment, wining-dining and leisure options after the project ends. It will boost the tourism industry of the area that is currently valued at about $50 billion. The entire project will also boost employment in the area as it is expected to brings thousands of new jobs.
Merlin Entertainments is planning for a press event, to be hosted later this month, during which developer Unicorp plans to unveil the new name of the project. While speculations were high in the Orlando real estate scene that the project would be named the “Icon Park”, Chuck Whittall, the President of Unicorp denied, saying the firm would announce a different name.
The name has become a special area of interest, particularly because of the frequent changes made to it. Previously it had names like the I-Drive Live and I-Walk Orlando associated with it. Only Unicorp can tell what new moniker the project will adopt.
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The debt relief act of 2007 has officially expired as of January 1st 2014. This situation creates huge tax burdens for Florida homeowners that are upside down and that have or will receive any kind of mortgage forgiveness such as a short sale.
This means that the IRS will consider any capital that was forgiven by a lender either in a short sale or even a foreclosure to be recorded as income to the homeowner and will tax that income accordingly. The “Mortgage Forgiveness Debt Relief Act” [MFDRA] of 2007 was established to allow homeowners with certain criteria to exclude this type of income from their tax returns. This act only applied to debts associated with someone’s primary residence.
Orlando realtors that specialize in doing short short sales are very concerned about homeowners no longer having the tax break incentive. Why would someone go through with a short sale if they knew that they would be taxed on the deficiency? It’s like jumping from the frying pan into the fire, you’re going to get burned either way.
We’re already seeing a sizable decline in Orlando short sales since the 1st of the year. I think that we’ll see even fewer short sales, fewer principal reducing modifications, and an increase in foreclosures as we get further into 2014. Homeowners aren’t seeing the upside to doing a short sale in many cases.
The truth is that without the assurance of tax being exempt on a short sale there’s much less incentive for distressed homeowners to agree to the voluntary sale of their home.
There was a time shortly after the RE market crashed in 2007 where lenders were extremely overwhelmed with the amount of homeowners defaulting on their loans. This resulted in a foreclosure taking up to 2 years or more to complete in some cases.
Several Orlando homeowners that I’ve spoken to say that they’ll just stay in the house until the bank forecloses believing that it will take their lender years to foreclose on them because of the stories that they’ve heard in recent years.
This couldn’t be further from the truth and homeowners that feel this way will be in store for a rude awakening. Lenders have come a long way in streamlining there process for dealing with mortgage holders that fall behind. They now have systems in place that help to expedite the amount of time that it takes to process foreclosures, short sales, loan mods, etc. Certain lenders will foreclose within a matter of 3 to 4 months if the homeowner doesn’t take action.
Homeowners are still offered the same alternatives from their lenders; short sales, loan modifications, deed-in-lieu, etc. It’s important to note that it’s not the lenders who want to tax homeowners on the deficiency amount, it’s the IRS. And, although congress is actively looking at several bills that would extend tax relief through the next year or two, it hasn’t happened yet and there’s no guarantee that it will.
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