Tag: Orlando Real Estate

Orlando Realty Ranks Second In The U.S. with Highest All-cash Sales

Posted on by Jenny Zamora

A recent report by the real estate brokerage firm, ORC, has left Orlando real estate agents reveling. The report, released Wednesday, March 26, listed Orlando second in the US in terms of non-financed sales of real estate in 2013.

ORC’s analysis of the state of all-cash sales in the US

For the analysis, ORC studied all of its real estate transactions over the two-year period, spanning from January 2012 to December 2013. It found that 26 percent of all real estate purchasing done through ORC had been completed via cash. Further, an impressive 25 percent of all residential properties purchased in 2013, through the same firm, had also been completed in cash.

According to the report, the top five metro areas with the highest concentration of all-cash real estate transactions are:

1.    Las Vegas – 48 percent all-cash sales
2.    Orlando – 43 percent all-cash sales
3.    Chicago – 33 percent all-cash sales
4.    Richmond, Va. – 32 percent all-cash sales
5.    Los Angeles – 29 percent all-cash sales

Dynamic market conditions facilitate all-cash purchasing

The trend of making all-cash purchases of real estate properties has been picking up pace over the last few years – a trend that top Orlando realtors have not only witnessed in the Orlando real estate market but also cherished.

Non-financed deals are typically faster to close and preferred by sellers. The Orlando-based firm lists two market conditions as primary triggers of increased all-cash purchases:

    Historically low levels of housing inventory
    Increased investments and investor activities in the housing market

True enough. Investors backed by large institutions possess the financial ability to write checks for homes. With several big-budget luxury residential apartments coming up in the metro area, Orlando real estate agents can expect to bank in all-cash deals in 2014 too.

Residential projects like the $56 million apartment complex at Crescent Central Station, the 800 luxury apartments to be constructed by BentleyForbes Del American, and the Winter Park Village projects, are expected to bring in a lot of business for Orlando realtors. If the trend of high all-cash sales in Orlando continues, 2014 will be a good year for them.

But all is not so well

ORC also found that one in every four sales of real estate properties made by the firm in the two-year period closed as an all-cash deal. Now 1-in-4 appears to be a rather good fraction. However, the fact is that All-cash sales are decreasing in magnitude. Back in 2010, the percentage of all-cash sales was 27. In 2011, it went down to 25.6 percent and has been decreasing every subsequent year.

 

 

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Should Orlando Sellers Get Their Own Appraisals?

Posted on by Jenny Zamora

Should I get my home appraised before I get a buyer so that we can make sure it appraises for what we want?”  This is a question I get from Orlando Sellers sometimes and then I ask them… “Would you accept an appraisal that was provided by someone that owns the house that you want to buy?”  Their answer is always…”probably not”.  With all the horror stories about bad appraisals and bad inspections lately being the cause of deals falling apart, I don’t blame sellers for wanting to get their own appraisals or inspections done to make sure they get it right. I’ve been on the receiving end of that scenario quite a few times lately with some of my own clients getting bad appraisals causing deals to fall apart.

Unfortunately, if you’re a seller, getting your own appraisal or inspection done is usually a waste of money. Today’s educated buyer is skeptical of appraisals that are paid for by the seller.  Especially when pre-listing appraisals are ALWAYS above the listing price. You’ll see verbiage like “Appraisal value $350,000 price reduced to $280,000”. When I see things like that it makes me feel like I’m dealing with a used car salesman. The truth is that it’s reduced because the market or buyers don’t agree and claiming that it appraised higher than the true market value will just ruin your credibility.

No appraiser in the world can tell you precisely what a house will sell for when it’s listed. At the end of the day, Appraisals and inspections are opinions just like BPO’s [broker price opinion] when you’re dealing with a short sale.

Here are some things that immediately come to mind when a seller tries to provide their own appraisal.

* Does the seller or listing agent have a personal relationship to the appraiser?

* Is the appraiser credible? What’s his background?

* When EXACTLY was the appraisal done? Is it up to date?

* Who paid for the appraisal?

Orlando Sellers Should Let Realtors Do Their Job

Instead of paying several hundred dollars for an appraisal or an inspection that probably won’t be accepted anyway, why not let the realtor do their job. Orlando real estate agents should be able to give you a very good estimation of how much the house will sell/appraise for.  Realtors have all the tools and knowledge that they need to provide you with good solid figures of how much to list the house for. When doing a comparative market analysis [CMA] they take comparable properties that have been recently sold in the same area. Done properly, the CMA will get you very close to what the house should be listed for as well as what it should appraise for.

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Moving 101: Six Items You Should Consider Hiring Professional Help for and Why

Posted on by Jenny Zamora

Moving can be a serious challenge, but you might be thinking about doing some or all of the work yourself. You can save a bit of money by moving your stuff on your own, but there are some items that are best moved by a professional. Even if you are planning on handling the bulk of the work yourself, you might want to think about hiring a moving company for help with these six items.

Heavy Appliances

Refrigerators, stoves, washers, dryers, and other large appliances can be difficult to move. Chances are high that you don’t have the right equipment to move them properly, and you could harm yourself or your appliances by attempting the job yourself. Professionals have all of the equipment necessary to quickly move and pack these appliances, saving you time and the chance of damaging the items.

Important Yet Fragile Items

It can be easy to break fragile items in transit, so you may want to hire a professional moving company to help with important family heirlooms, valuable items, and other fragile things. Movers have the right equipment to package these things carefully for the move, and they have insurance in the unfortunate event that something does happen to them.

Pianos

According to professionals at BC Alberta Movers, pianos can be especially difficult to move. Not only are they big and bulky, they’re also very heavy. Not packing it properly in the moving truck can also result in extensive damage that is costly to fix. In fact, some moving companies won’t even move pianos, but hiring the right company will help ensure that your piano makes it to your new home in one piece.

Vehicles

Whether you’re moving a car or an ATV, you might want to rely on a professional for help. If you don’t have the right equipment, chances are good that it will be impossible for you to move these things on your own anyway. Plus, you could damage your vehicles or hurt yourself in the process.

Lawn Equipment

Lawnmowers, weed eaters, and other lawn equipment can be cumbersome to move, but professionals know how to drain them of oil and gas and how to move them effectively and safely. They can also break easily and quickly damage other items nearby if they are not packed the right way.

Toys

Although you might be fully capable of packing toys away in a box, doing so can upset the younger members of your family. If you want to keep the emotions of moving favorite toys at bay, you can always take your kids to the park while the movers pack them away and move them.

Hiring a professional mover is a great way to make your move go more smoothly. Doing so will ensure your items are packed quickly and effectively, saving you unneeded stress.

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Central Florida’s Northern Phase Construction Gains Speed ahead of Launch

Posted on by Jenny Zamora

As we slowly approach May 1, the construction of the new SunRail railway project is looking to shift into another gear, with increased progress being made in its second phase. It is believed that the Florida Department of Transportation will look to provide yet another update on the status of the project to the Volusia County Commission on March 13. Design options for the northern Phase 2 that will run from DeBary to DeLand is said to be the topic of discussion. The cost of constructing the northern phase is estimated at approximately $60.5 million, a significant percentage of the cumulative cost of $1.3 billion.

Bright prospects

The reason why so much has already been invested into the SunRail project is that it is said to spur employment within the communities of Southern Florida, creating over 261,000 jobs. Moreover, it is also estimated that the project will create an economic turnover of $8.8 billion over a thirty-year period from when SunRail becomes fully operational. The project will also provide commuters with a reliable alternative to using Interstate 4, which is to undergo its own overhaul beginning at the end of this year.

Realtors in Orlando believe that residential projects around the SunRail line are likely to get a boost. According to Orlando real estate agents, an increase has been seen in the demand for houses near the SunRail project. It means that infrastructural projects of this kind not just help the residents but also aid the real estate market.

The first phase of SunRail spans 31 miles and is said to become operational in under two months. The phase includes twelve different stations between Sand Lake Road, Orange County and DeBary in Volusia County. It also moves 17.2 miles southwards from Sand Lake Road toward Poinciana in Osceola County, passing a further four stations. Moreover, there is also a 12-mile alignment in the north that will require building a brand new station beside the Amtrak station located in DeLand.

Federal funding of $63 million

President Obama’s fiscal budget for 2015 saw the second phase of the project receives approval, with approximately $63 million in federal funding allocated to it. While the budget is yet to be approved by Congress, there is certainly much to look forward to for SunRail advocates.

In related news, the Lake Mary SunRail station is still awaiting approval on a request for an additional $30 million in federal funding for its north alignment. Nevertheless, the project still seems to be making progress despite the fact that designs have not yet been drawn up.

A number of train tours have been planned to promote the SunRail experience, which will be held in the first phase. There will also be free train rides available between April 15 and 18, and 21 and 24.

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New Listing In Whisper Lakes, Orlando! | 2223 Fairmont Cir

Posted on by Jenny Zamora

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Move-In Ready!  2223 Fairmont Circle. Orlando, FL 32837

Initially used as a model home for Whisper Lakes.  One of the biggest lots on the block.

This 1,623 square foot move-in ready home has been perfectly maintained and has all the features you could possibly dream of.

*  3 Bedrooms

* 2 Bathrooms

* Bonus Room

* Oversized Corner Lot

* Oversized Pool and Pool Deck

* Huge Fenced-in Backyard

* Mature Landscaping

* Wood-burning Fireplace

A Must See!

Hurry, It won’t last!  You have to stop by and see this Gorgeous Model Home. Oversized Lot and Oversized Pool on a Corner Lot in a Cul de sac.

Pool Access from Master Bedroom, BIG Closed in Porch, Perfect for ALL occasions. What else can you ask for?

The owners have made this a Beautiful Home just for you. Don’t wait, call Now and Make Your Appointment!

Visit https://orlandorealtyconsultants.com/   or call   407-902-7750

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