Tag: Orlando Real Estate

Confidence in US Economy Rising Among Floridians

Posted on by Jenny Zamora

 According to the findings of a new consumer confidence survey by the University of Florida, Floridians are now slightly more confident about the improving US economy than they were the last year. Released on Tuesday, January 28, the report found consumer confidence in Florida rise to 78, one point higher than the previous sentiment index.

The Florida Consumer Attitude Survey

For this statewide survey, the University surveyed over 400 residents over a two-week period from January 14 to January 28. The monthly survey conducted by the Bureau of Economic and Business Research of the University of Florida measures the mood of Floridians towards buying Florida real estate.

Survey takers have to answer two questions about the current financial scenario and three questions about the future exceptions they have about the financial condition of the state. These questions are repeated by the University of Michigan in its national (telephonic) survey.

Findings

To the first question of how the respondents (and their families) were getting along financially in the recent days and if they felt in a better financial position than their position a year ago, respondents revealed their sentiments were slightly lower – their sentiments fell a point below to 68.

The second question in the survey asked citizens their views about buying major commodities like stoves, televisions, refrigerators and so on for their homes. Their sentiment on whether it is currently a good time to make such purchases fell six points, from 91 to 85.

When asked how they perceived their financial situation to be, a year from now – the same, better or worse, respondents’ sentiments remained unchanged, at 78. They were however, clearly optimistic about the business conditions in the US as a whole, over the next 12 months. Their confidence that they would have good times financially jumped three points from 73 to land at 76 this time around.

Their confidence in the larger US economy for a five-year period was even higher. Jumping nine points, Floridians sentiments that the nation’s health would get better and better over the next five years measured at 83.

Implications

Chris McCarty, the director of the Bureau of Economic and Business Research’s Survey Research Center says 2014 is set to be a different year all-together for consumers. Since the real estate crisis of 2007, consumers have faced loss of homeowner equity, declines in stock market and crunchy budgets, but with the stock and housing markets recovering recently, the Federal Reserve is in a better position to purchase securities and treasuries to support the US economy.

How This Affects Orlando Real Estate

Orlando is one of the biggest housing markets in Florida and because of the improving economy in Florida, Orlando real estate agents are expecting a substantial boost in the Orlando real estate market. Even if the market continues on a positive trend,  I don’t believe that we’ll see a market with overinflated home prices to the extent of what we saw in 2006 or at least I hope not.

 

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

Real Estate Staging Guide

Posted on by Jenny Zamora

If you need to sell a property in Orlando, FL, then you are already aware of the multitude of things that need to be done to make it appealing. Regardless of your experience, you know you will need to do a whole lot of prep work to get things ready for a sale. The following tips will give you what you need to begin:

  • Using the right mindset

There should be a balance between the emotional attachment you have made with the property and the desire to sell it. There are cases where people spend far too much during renovation on some project that wasn’t quite as needed as they may have thought. Make sure you use the services of a realtor or even a staging professional to ensure you know what you need to do.

  • Working on curb appeal

You should make sure the outside of your property looks inviting to anyone viewing it. Trim the garden, mulch the flowerbeds, paint the outside and make sure you create a refreshed and renewed home on the outside so you can increase its overall appeal. Keep in mind that the first impression is not something you’ll ever forget once you look at a place.

  • Using a new color

You should choose a more mild, neutral color palette for your sale rather than bold colors. Stick to grays, tans, and other similar colors that avoid being too obvious to the eye. Make sure you avoid any darker shades or colors, especially if you have to work with limited space as they will only make the rooms seem smaller. You should also keep in mind that refreshing the paint or wallpapers on the inside can be a great way to make things look appealing and great.

  • Letting light in

You can never overlook the importance of the levels of light inside a home. Avoid dark hallways and the lack of natural light, paying special attention to bathrooms and basements. You can have a fixture that has two light bulbs of sufficient power to transform a dark and dingy place into something better. Make sure you don’t have any light receptacles that are missing a light fixture, as this will leave a bad impression. You can combine that with fittings made of nickel or silver if you can. You can also combine those with table lamps or even floor lamps for added effect.

  • The importance of flooring

This is the other place around a home that needs to be addressed as soon as possible. You will get your investment back if you replace the flooring before you decide to sell it, as it will be much easier to sell a place that looks great than one that looks dingy and poorly maintained. In many cases, buyers will look for flaws in the home so they can ask you to lower the overall price. There is no sense in doing that if you can increase both the appeal of the home and the chance to sell it through a simple project like this one.

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

Median Orlando Home Prices in Shoot 24 Percent Up at the Close of 2013

Posted on by Jenny Zamora

 Wednesday reinforced positive sentiments among Orlando realtors as the Orlando Regional Realtor Association released its yearly report about the Orlando real estate market. The report revealed that the average Orlando Home price for properties in the city saw a 24 percent hike in the previous year. This 2013 rise in median home prices marks an all-time high since the economic downturn of early 2006 that took the housing market down with it.

Key takeaways from the report

 The median home price in the core Orlando real estate market was $149,625, in 2013. Back in 2012, the corresponding figure stood $28,000 below, at $121,000. The last time Orlando real estate agents had seen such a hike was just before the housing bubble in 2005.

Median house prices rose by more than 33 percent that year. The same upturn of events was seen in 2013. The report holds that 2013 saw the sale of 6.54 percent more homes, than the previous year. Compared to the 28,765 homes that were sold in 2012, 30,645 were sold in 2013, showing just where top Orlando realtors had been busy the year.

Comparing the statistics for December alone, aggregate median home prices were up by 20.87 percent compared to the previous year. In the December of 2012, the aggregate for Orlando was $132,500. The 20.87 percent boost brought up aggregate median house prices for all of Orlando to $160,150 in the December of 2013.

The Christmas month also saw a 3.32 percent hike in the median home price of Orlando real estate properties from the previous month. Compared to the median price of $155,000 in November 2013, December registered the median price of $160,150. Real estate agents in Orlando sold 2367 homes in December – 11.55 percent more than their November tally.

Prime reasons attributed to the up-turn

 Orlando Regional Realtor Association’s chairman, Zola Szerencses remarked that the competition between investors and buyers helped reverse the sunken-mortgaged conditions for many property owners.

Industry experts list low inventory during the first two quarters as a positive influence. The second and third quarters presented prospects with low-interest rates – boosting confidence and increasing sales.

Despite the promising upturns, the median prices in the Orlando real estate industry remain considerably low compared to the peak Orlando realtors saw in July 2007. The real estate bubble was about to burst and median prices for the Orlando neighborhood homes peaked at $264,000. For 2014, economists have predicted a flattening up of the sales and price increase to about five percent.

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

English Style Gardens and Latin Amenities – Winter Park Village Is Going to Charm You This Year

Posted on by Jenny Zamora

The Winter Park Village is all set to gain a new Avatar this year and work on it has already begun. As part of the Winter Park Village revamping project, construction has begun on a new apartment complex in the Village.

The project

 

Set to have 204 units in total, the apartment complex will offer Class A apartments to renters. Within walking distance from the premium Winter Park Village, which is unanimously regarded as Orlando’s second-highest real estate submarket by Orlando real estate agents and short sale specialists, the apartment complex is expected to be a huge hit among well-to-do renters.

Many real estate agents have already begun receiving queries about the complex, which is estimated to cost around $30 million in its initial construction phase. Orlando realtors will have a good time looking for an area that boasts an occupancy rate of over 94 percent.

Winter Park’s own architect  ACi Inc. has designed the entire project except for the amenities which have been designed by Miami’s famed landscape architect, the Arquitectonica International Corp.

Put together by the best in the market

Several big players associated with the Orlando real estate market will be involved in the project. The Finfrock Construction Inc. has been roped in to finish the construction of the $2.8 million parking lot and reports suggest half of the work has already been completed.

The Castro Lifestyle Properties LP and Epoch Properties Inc. have ventured into the construction of the Winter Park Village apartment complex. Epoch Properties Inc. is a local favorite and has previously worked on several high-profile projects in Winter Park.

 

Major highlights

The $30 million projects is expected to create over 300 construction jobs while it lasts and industry insiders specializing in rentals have projected a median monthly rental of $1,174, per apartment.

Apart from the construction of 204 rental units, the Winter Park Village construction project entails the construction of a 325-space parking garage, for an estimated $2.8 million.

Developers Castro and Epoch have also signed an agreement with the city of Orlando to revamp existing parks and include a bridge at the water retention area. ACi Inc. has added further zing to the project by designing an area near Dennings Road that resembles an English-style garden. The pool area, as well as amenities designed by Arquitectonica International Corp., have a Caribbean/Latin vibe to them, increasing the property’s appeal.

Set to be completed by the fourth quarter of 2014, the Winter Park Village apartment complex is expected to reach estimated occupancy rates rather quickly.

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

Choosing an Orlando Realtor, Technology Vs. Experience

Posted on by Jenny Zamora

Choosing an Orlando Realtor

The younger generation is all about using the latest technology available to communicate socially as well as promote their career no matter what profession they are in. Young Orlando real estate agents especially rely on using the latest technology thinking that this will give them some kind of edge over more experienced Orlando Realtors. This couldn’t be further from the truth. I think it’s better to have a balance of both the old and new school way of doing things. But if I had to pick one way or another, I would go old school strictly because more experienced agents are just that…more experienced.

 

There’s just no substitute for good old-fashioned “been there, done that” experience. It’s kind of like the soldier that’s worked his way up the ranks through being on the battlefield as opposed to another soldier with the same rank spending all of his time inside of a classroom. Which one would you rather have at your side in a real situation? I don’t know about you, but I will pick the battle-tested soldier every time!

 

Lately, I see newer real estate agents that are really skilled at using the latest technology but they lack the basics of what it really means to be a really good real estate agent. I’m talking about what to do when you’re face to face with a seller or buyer on an appointment. Learning how to do a good old fashion presentation of what services they can offer as a real estate agent and not just how many real estate apps you have on your smartphone or how many likes you have on your Facebook Fan Page. At the end of the day, those aren’t the most important things that will enable someone to become a quality real estate agent.

I’m always hearing about RE offices having training courses where newer agents that are tech-savvy teach older agents about technology. I think this is a great idea for older agents that want to get up to speed on the latest real estate tools and technology. However, I think it would also be beneficial to have the more experienced agents teach newbie agents about the basics. I would even go so far as to not allow any i phones or computers of any kind during the training to really get the point across that it’s not all about technology. Why not have new agents go out on a ride-along with the more experienced agents, then discuss what could’ve been done differently to make it a more successful appointment.

 

The Best Option is Hiring an Experienced Orlando Realtor That is Also Tech-Savvy

I’ve been an Orlando real estate agent since 2005, and when this whole wave of new technology hit the real estate profession, I learned very quickly that I would need to keep up with it or it would hurt my business. In our brokerage “Orlando Realty Consultants” technology is absolutely essential because of the number of clients that we have. We have systems in place to help us streamline our business as well as keep things organized and running smoothly.

Real estate buyers and sellers these days are very demanding and they have every right to be.  After all, buying or selling a house is one of the most important transactions that will occur in someone’s lifetime. The real estate software that we use in our company enables us to communicate often and easily with our clients keeping them in the loop with almost daily updates of what’s happening with their house. We also have a tool on our website that makes it extremely easy for buyers to search out homes that are for sale throughout the state of Florida from the comfort of their own homes…Just like a pro!

 

So I think that when you’re looking for a real estate to handle your home buying or selling needs, try to find one that is not only experienced but is also familiar with the technology. By doing this, you will have the best of what both worlds have to offer to make your experience far more pleasant while striving to achieve your real estate goals.

 

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields