Tag: Orlando real estate expert

School’s Out and Orlando Real Estate is as Hot as the Summer Sun

Posted on by Jenny Zamora

Orlando Real Estate is Hot, Hot, Hot

Orlando’s summer home-buying season is here. With school being out, parents don’t have to worry about pulling their kids out before the end of the year. There is a sense of urgency in the air and potential home buyers are scrambling to buy a piece of Orlando Realty before the beginning of the new school year. Potential Orlando home buyers are out in record numbers actively searching for their next home. The problem is that there is just not enough inventory to keep up with the demand for Orlando Real Estate.

As an Orlando realtor, I am constantly showing homes to potential buyers, and finding the right one is not always an easy task. When I come across a terrific Orlando property that my clients love, I will almost always recommend them go above the asking price. Orlando real estate is a hot commodity once again and when you find a great deal, you’d better move fast or be ready to miss out. Now that the summer is upon us this is more true than ever.

When it was a buyers market, I would have to show a potential home buyer between 6 and 10 homes before they would even consider putting in an offer on one of them, buyers had the luxury of being extra picky. This made things a lot harder on realtors forcing many Orlando agents to pursue other ways to make a living.

Submitting a full price offer on an Orlando Home may not be enough

The problem these days is that you can’t make an offer soon enough. And sometimes when you send in the offer and there are already multiple offers on the table.  Although this can get frustrating for buyers, part of being an Orlando realtor is to guide our clients on their home buying mission every step of the way. If a client of mine really likes a certain Orlando property, I will almost always suggest that they offer more than the listing price to ensure that they have a chance at getting their offer accepted.

Following up with the Agent is Crucial

The sign of an experienced Orlando Realtor is that they know how to follow up. Many times, listing agents get overwhelmed and if you don’t stay on top of them, your offer could get pushed to the side or end up on the “back burner”.  It’s the realtor’s job to not only submit the offer but to make sure the offer was received and follow up, follow up, follow up. Unfortunately, there are agents out there that don’t always follow the rules like they are supposed to so that they can drive up the price and increase their commission. This is why it’s important to have a Top Orlando Realtor looking out for your best interest.

Happy House Hunting!

Jenny Zamora, Lic RE Broker

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As the Unemployment Rate Falls, Orlando Real Estate Sales Improve

Posted on by Jenny Zamora

Orlando Realty sales improve partly because of less unemployment

 

 

The unemployment rate in the state Florida dropped one tenth of a percent in May. That is the lowest we’ve seen it since 2008. It makes perfect sense that this is having a positive effect on state tax collections, and Florida real estate transactions are leading the way. With less unemployment  things are moving forward again. Not just in the Orlando real estate market, but across everything else the board.

 

Florida banks are lending money again.  This not only helps people get loans to buy property, but since the beginning of 2012 financial institutions have created fifty seven hundred new jobs in Florida.  In fact, Florida’s financial institutions account for 1 out of every 10 new jobs created in Florida since the first of the year.

 

The fact that pending sales in Florida are up thirty five percent is proof that people are back in the market ready to buy. It’s a fact that if your making enough money to pay your bills and support your family, your happy.  If you’re happy you will spend more money and feel good about it, it’s just human nature. This is why the Orlando market is improving at the rate that it is. People feel like the recession is behind them and there is hope again. Fact: the #1 cause of divorce in our country is financial problems. I’m not certain but I would guess that the divorce rate in Florida overall has also dropped together with the unemployment rate.

 

Foreign nationals Purchasing 1 out of every 6 Orlando Properties

 

With Orlando Realty prices being what they were, foreign nationals are making some serious home purchases. Whether it’s for a vacation home or to move in as a primary residence to escape the cold once and for all. Orlando Real Estate is a hot commodity for people oversees. I have been working with some English investors for several years now which have purchased at least a dozen Orlando properties from us since 2008.

 

New Construction in Orlando Still Suffering

 

Although we’re seeing dramatic improvements in the Orlando real estate market lately, new construction still remains one of the hardest hit areas in Florida’s economy, losing about 20,000 jobs within the last year. Orlando Real estate Developers are going to have to come up with some even bigger incentives in order to compete with the rest of the market.

 

Jenny Zamora, Lic RE Broker/ Orlando Real Estate Expert

 

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Is Now a Good Time to Sell your Orlando Property?

Posted on by Jenny Zamora

Right now may be the best time to Sell your Orlando Real Estate

If you are an Orlando homeowner, you may be asking yourself, ” Should I put my house on the market now, or should I wait another six or eight months?

Here’s what I think, The inventory for Orlando Realty has decreased dramatically. This means that Orlando real estate values have increased and buyers are sometimes having to go through bidding wars with other home buyers to get the home that they want. The fact is that buyers just don’t have the power that they had 2 years ago and they know it.

Here’s what I suggest; Contact an Orlando realtor who is experienced in your neighborhood. The agent should be able to pull data showing you recent sales [within the past 2 or 3 months] and tell you how much your house should sell for within what time period. The best part is that  Consulting with  an Orlando Realtor doesn’t cost you anything and there’s no obligation. You can get a feel for what the market will give you before making a commitment. You have nothing to lose.

Make Sure You are selling your Orlando Property for the Right Reasons

If you know exactly why you are selling then it is easier for you to follow the right plan of action for getting what you want.
If you are a seller who needs to close a sale as quickly as possible, then you should know that getting the highest price possible is not one of your priorities. It does not mean that you won’t or cannot get the highest price, but it means that the price is not the deciding factor. A buyer who can give you a quick closing time will appeal much more to you than a buyer who can offer you more money but the negotiation and closing time drag on.

It’s always good to know how low you will go on your Orlando Property, in terms of selling price. This will help to eliminate some of the offers that you find simply offensive or ridiculous. Even though you should consider all offers seriously and take into consideration the terms of each offer, sometimes, if you know the bottom line and are strict about it, you can save yourself time.
Once you know what your limits and reasons are, discuss them with your Orlando agent so that they can help you set your goals realistically. If you decide to list your home on your own, make sure you do research on the current market, and you get the proper advice you need in terms of legal issues, etc. The key is to be realistic and to know what your goals are so they can be met.

Finding the Best Orlando Realtor for You

I you’re in the market for an Orlando Real estate expert, check out 9 critical things you need to ask a realtor. 
By following what is outlined in the list, you will have a blueprint on hiring an Orlando agent that will work for you.

 

 

Jenny Zamora Lic Orlando RE Broker Since 2005.                                                                                             Ask me anything, I’m here to help.

 

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Buying Orlando Real Estate without an Agent Can Prove to be Costly

Posted on by Jenny Zamora

Buying an Orlando Realty without a Realtor can Result in Disaster

 

Buyers loves to get a great deal on Orlando real estate and there’s nothing that I enjoy more than to provide my clients with terrific Orlando homes at great prices. However, If you you don’t want to use a realtor, there are other options available such as bidding online for properties going to foreclosure or searching craigslist for motivated sellers.

Bidding at the Orange County online foreclosure sale.

It’s true that you can find a good deal at the auction on an Orlando property. Although, if you don’t do your research prior to bidding, there’s a good chance that you could lose big.
A family was recently bidding in an online auction on a foreclosed home in the Orlando neighborhood of Meadow Woods.  However, those bidders didn’t know they’re now on the hook for the previous owner’s mortgage.

The home went to auction on the Orange County Clerk’s foreclosure website, and someone bought their home for $16,000! What a deal right? Wrong!… the guy that bought the house online didn’t do his research until after he bought the house. It turns out that it was an HOA foreclosure and there was a mortgage attached for 200 thousand dollars. Can you imagine thinking that you just got the deal of a lifetime and then finding out that you inherited a $200,000.00 debt?  It’s like, “Oh, my God. What have I done?”

People have this misconception about the online auction where they think bidding on foreclosures is a lottery ticket. The truth is, many people end up losing money bidding on foreclosures.

 

Before bidding, you need to do a title search.

One of the problems with trying to get a house online is all that you have to put in a lot work to be successful. Spending a hundred dollars on a tile search can save someone from making one the biggest mistakes of their lives. Doing a title search is just one of the things you need to do. It’s always a good idea to go to the house even if you can’t get inside. Most of the time you won’t be able to get in but you can at least get an idea of what the outside looks like.

Unfortunately, disgruntled homeowners that have been forced out because of a foreclosure can sometimes take out their frustrations by causing severe damage to the inside of the house. I’ve seen houses with well over $20,000.00 in damages caused by angry homeowners and their favorite sledgehammer or golf club.

The moral of the story is this; If you choose to find a property without the help of an Orlando Realtor, make sure to do your due diligence or you could end up losing money.

 

 

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New rules set to improve turn around time for Orlando Short Sales

Posted on by Jenny Zamora

 Orlando Short Sale Process should be much faster with new rules in place

With the new rules regarding short sales taking effect this month, federal regulators are hoping to streamline the entire Orlando short sale process from beginning to end for residential properties.

The new regulations which will regulate both Fannie Mae and Freddie Mac,  forces the agencies to give short sale buyers a yes or no answer within a 60 day time period. The rule is supposed to go into effect on the 15th of this month.

The rules also force the agencies to respond to initial requests for short sales within 30 days of receiving a buyer’s offer. For Orlando realtors, this is great news! No longer will they be able to take their own sweet time to respond, which sometimes meant waiting  a couple of months to see if they even considered the offer. And most of the time the buyer would get frustrated and walk away from the potential deal.

What is an Orlando short sale?

For those of you who don’t know, a short sale is when a lender agrees to accept a contract price for less than what is owed on the mortgage.  Orlando Real Estate values have dropped an average of 35 to 45 percent since 2007 leaving many homeowners with more debt than their home is worth.

Orlando short sales are very popular right now. It’s the perfect solution for the sellers, the buyers, Orlando realtors and the lenders. Lenders get to recoup some of their money back, Sellers are able to get rid of an enormous debt and avoid Orlando foreclosure, Buyers get a great deal on an Orlando property, and it gives realtors an opportunity to earn their money. Any Orlando short sale realtor can tell you that negotiating a short sale is no walk in the park

I believe that with the new short sale rules in place will benefit the entire Florida housing market.

Lenders prefer short sales because they are much more efficient than foreclosures. Although many homeowners have become casualties of lengthy and unpredictable time frames that it takes to process a Florida short sale.

We’ve closed thousands of Orlando short sales over the years and I can tell you from experience that unless you’ve worked with certain lenders before, there’s no way of knowing how it’s all going to play out. We’ve worked some that have taken 60 days from start to finish and some that have taken two and a half years to complete.

 

Ask me anything,   I’m here to help

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