When searching for the right Orlando real estate agent to meet your needs, keep these important things in mind.
Real estate agents in the state of Florida go through endless hours of special training to ensure they know all the real estate laws in their state. Going it alone without the representation of an experienced realtor is dangerous and can cause you to slip up and lose a deal or even worse, end up in legal hot water.
Traditional real estate marketing through the MLS and other network channels is effective so make sure that your Orlando Realtor is active every day maximizing exposure to their properties.
The Realtor that you choose should also have a strong online presence through their own websites and social media profiles.
The following are three vital tips to help you find the right real estate agent for you.
1- The right Realtor may have information on financing that may allow you to progress through the process more effectively and avoid the challenges you may normally encounter.
2- See if they have online capabilities like virtual tours and walk-throughs which will do wonders when showcasing the property and making it available to the largest amount of potential buyers possible.
3- Always ask if they have online testimonials are positive reviews they could direct you. Having the right real estate agent in your corner can save you time and money so make your choice wisely.
Floor plans and pricing for Kailey’s Ridge in Hunters Creek are being finalized by both builders and are expected to be ready within weeks. With the entrance roadway now paved, construction moves to the next phase of development. The builders (Ryan Homes and Surrey Homes) will each control 50% of the 134 homesites and are scheduled to begin construction on the actual homes by the end of September or the beginning of October of this year. The development will cover about 53.4 acres of land.
Home prices are expected to run between the 3 to 4 hundred thousand dollar range and provide buyers with top-quality residences with some very attractive and functional floor plans to choose from. The plan is also to provide a rural feel to the community for future residents which is why at least thirty percent of the new subdivision will remain protected and unspoiled.
Hunters Creek Roadways Will Remain The Same
As a follow-up to my last article about Kailey’s Ridge “Kailey’s Ridge Underway Residents React”Many residents will be very happy to know that the roadway leading into Kailey’s Ridge will not be connecting to any other road. The plan was to have the road connect to either Osceola Pkwy or International Drive. There were even plans to connect the road to 535! As a resident and realtor in Hunters Creek, I’m glad that the Hunters Creek Community Association would not allow this to happen. Developers agreed to pay the $2,700.00 per lot in order to be part of the HCCA. There will be additional fees to pay by the builders as well as the homeowners as the development progresses.
About The Builders Of Kailey’s Ridge
Ryan Homes
This builder has been building residential properties since 1948 and is known to be one of the top 5 developers in the whole U.S. They are known for providing quality homes to buyers with a personal approach. This builder will also be constructing homes that are Energy Star rated which will be a terrific value to homeowners that will cut down on monthly energy costs.
Surrey Homes
In the last 25 years, this builder has built over 5,000 fully customized residences. Their base is right here in Central Florida and over the years they have earned a lot of trust and respect in the industry. Surrey Homes is known for providing the best features, great warranties, and top quality at affordable prices. Their team has a combined 50+ years of experience building homes.
Kaileys Ridge
There’s no doubt that the construction of Kailey’s Ridge is and will continue to be an enormous undertaking until its completion. Hunters Creek is known for having beautifully and quality built homes with sharply designed landscaping. Expectations for Kailey’s Ridge are just as high if not higher than existing homes in the area.
There’s been a lot of buzz about the current housing recovery in Orlando, many real estate agents feel that these developments mean the end of Orlando short sales. Speaking as a realtor that specializes in doing short sales, I completely disagree with that, and I’ll tell you why:
Has The Orlando Real Estate Market Fully Recovered?
It’s true that we are now facing a housing market that’s less heated and moving towards normalcy. Home price increases are driven by market demand as well as inventory shortages. And as far as pricing goes, according to CoreLogic, there was a nearly 12% growth in 2013. However, halfway through 2014, we’re already experiencing a cooling trend overall in Orlando with lower-priced properties in the lead with just 2% growth. All these things can be attributed to rising interest rates, a drop in investor participation, ever-changing short sale rules, as well as increased inventory.
Any active real estate agent can tell you that decreased inventory will lead to higher prices. Then when housing prices increase, it gets people feeling good about the market again which helps to convince homeowners that were on the fence about selling, to put their house back on the market. However, while price increases are encouraging, we still have a long way to get to erasing equity losses from the last decade.
In my opinion, the restart of any housing market is directly related to inventory and that’s why I feel that the current rebirth of the Orlando real estate market is an illusion. If you haven’t heard the term “shadow inventory”, it basically means real estate inventory that’s not yet reflected on the market.
There are several reasons why shadow inventory exists. Here are the most common:
Loan modifications- This is a foreclosure workout program that’s designed to modify the terms of the loan making it more affordable to the homeowner
Homeowners in litigation- These homeowners are in actively litigating foreclosures with their lenders causing the property to be tied up for up to several years in some cases.
Short Sales that have fallen short- Those people that have just given up trying to short sale their home because of an incompetent agent that couldn’t get the job done or a lender that just won’t budge.
Foreclosed properties- This is when a property has gone to foreclosure and taken back by the lender. I believe that this is the biggest reason for shadow inventory. When the lenders take back these properties it can sometimes take up to several years for the property to be put back on the market. Once it’s put back on the market for sale, it’s then considered an REO [real estate owned] property.
Unrealistic Property Values Not Helping Things
Another major factor that affects housing recovery is the perception of property values. Dealing with hundreds of BPO agents and appraisers [sometimes known as Deal Killers”] I know how much someone’s price opinion can vary from someone Else’s. It’s not uncommon to find very high and very low comps for most properties. This can be problematic because, with a short sale side, buyers will always try to use the lowest comps to justify buying a distressed property. Unfortunately, in the real estate industry, you just don’t know how things will play out in any transaction which is why you have to be prepared for everything.
Orlando Short Sales Will Be Around For A While
All of the things mentioned previously in this article all play a role in why I think that short sales are here to stay…at least for the next year or two. 91% of our clients are short sale clients and I can truly say that a short sale represents a way out for people, a way to get out of a bad situation and help people to move on with their lives. I also believe that lenders will start to wake up and smell the coffee when it comes to short sales vs foreclosure. Lenders benefit far more from a short sale as opposed to spending valuable time and money on a foreclosure. By allowing more homeowners to short sell their homes, they won’t have to deal with the hassle of getting the property back on the market and hoping to recoup a portion of their money.
