Tag: Orlando Realtors

How do Realtors Negotiate a Short Sale?

Posted on by Jenny Zamora

Whether you’re looking to buy a short-sale home or negotiate a short sale with your realtor, a few tips can help you make a successful short sale. First, it’s important to understand the requirements for a short sale. Different lenders have different requirements for the process. Some require a Broker Price Opinion (BPO) and may be more aggressive than others. Regardless of the lender you choose, there are ways to speed up the short sale process.

Process

The first step in the negotiation process for a short sale on a home is to submit an offer to the lender. This initial offer will serve as the basis for the rest of the process. However, the offer must be submitted correctly, or it will be rejected. To be successful, the lender must accept your offer. After all, the lender is taking a loss on the property, and they want to be sure that they are receiving a fair market offer. As such, your offer must be comprehensive, including the full package requested by the lender.

When you’re looking for a short-sale realtor, it’s important to look into their past experiences. Ask them about the types of short sales they’ve handled and their overall experience dealing with multiple lenders and lien holders. It’s also important to ask about their previous clients’ experiences with short sales.

Before you make an offer on a short-sale home, you need to be aware of all liens on the property. If the seller is asking for money under the table, you should walk away. Also, you must know the condition of the property before closing. Sellers are required to disclose any known defects in the home. If you’re not sure of the condition, you should complete a home inspection.

Dealing with a real estate agent

Working with an Orlando Real Estate Agent can be beneficial for a number of reasons. For one thing, an agent who specializes in short sales will be able to help you navigate the process of negotiating a short sale. Your agent will be able to review public records and look at comparable properties and give you advice on making an offer. Since your agreement with the home seller is not set in stone, it is crucial to hire an expert to inspect the property before finalizing the deal.

First, you must show that you can’t pay your mortgage. To do this, you must submit a short sale application, which will include financial and personal information about you. You will also need to provide a hardship reason, which the bank will use to determine if you qualify.

Working with a real estate agent during the short sale process is extremely necessary. The short sale process can take longer than you expect and may reveal more problems than you’re willing to fix. It is also possible for a home to suffer serious damage before the closing date, and you don’t want to lose your deposit if the property is not up to par. To avoid this situation, you should always include contingencies in your contract offer. Some of these contingencies include home inspections, loan approval, and hazard insurance. You can also include an interest rate cap so you won’t lose your deposit if rates go up.

Your real estate agent will send your offer to the lender for approval. The lender will want to see proof of your funds or preapproval. If you can’t provide this, the lender may reject your offer. However, some lenders may reserve the right to renegotiate the terms of the deal at the last minute.

Timeline of a short sale

A short sale is a sale of a home that is not in foreclosure. The process of a short sale can take months, but it can be done as quickly as two months. It is important to be patient and understand the timeline involved. A short sale is not an immediate sale, and the bank will want to review all documentation and forms before agreeing to a short sale.

In the meantime, you have to list your home with a licensed Real Estate agency. The listing process is similar to the normal re-sale process, and in the city, a property typically spends over 100 days on the market.

In order to negotiate a short sale, the homeowner will need to meet the lender’s requirements and work with a realtor. The lender will need to approve the short sale package before releasing the homeowner from the mortgage loan. The borrower will need to submit documentation and financial information to prove their current financial condition.

If you do decide to go ahead with a short sale, it is important to note that the process could take longer and be more stressful than a traditional sale.

Securing a mortgage after a short sale

If you’ve just completed a short sale, you may wonder if it’s possible to get another mortgage. Bankers generally don’t like to see a short sale on your credit because this shows you have left part of the debt outstanding.

A conventional mortgage might be an option with a substantial down payment amount and extenuating circumstances. In general, you need to put at least 20% down to be approved for a conventional loan. Freddie Mac, on the other hand, requires that you wait for four years after completing a short sale. However, if you’re able to come up with a valid reason, you may qualify for a mortgage sooner.

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What is happening with the Interest Rates in Florida?

Posted on by Jenny Zamora

If you are a Florida homeowner, you’re probably wondering what is happening with interest rates. This hike was the Federal Reserve’s latest attempt to combat skyrocketing inflation. But many are wondering how this move will impact the housing market. The truth is that moderately priced homes will probably not be affected as much as higher-priced homes. In the meantime, the rates will increase enough to make buying a home difficult, and even more difficult if the mortgage is more expensive than the current rate.

The average interest rate on a fixed 30-year mortgage in the U.S. reached 5.53% this week, more than double its level from a year ago. Demand for properties tends to soften as mortgage rates climb, eventually leading to a decline in home prices. If mortgage rates continue rising to 7%, home prices in some parts of the U.S. could fall as much as 40%. Sellers in Florida are already starting to lower their prices because of climbing mortgage rates, although it will take a few months. This summer might be the most opportune time for homebuyers.

The good news is that mortgage interest rates in Florida are still lower than the national average. Despite this lower interest rate, home prices, monthly ownership costs, and cost of living metrics in Florida are all comparable to those in other states. That doesn’t mean that buying a home in Florida is any cheaper than elsewhere, but it’s certainly cheaper than many other places. For sun lovers, buying a home in Florida is an excellent option.

Higher mortgage rates add thousands of extra dollars in payments to the homebuyer over the life of the loan. A $429,000 house the median price of a home, according to the St. Louis Federal Reserve Bank, will cost roughly an additional $5,750 per year at today’s rates.

If you’re wondering what’s going on with the interest rates in Florida, you may be wondering how you can get the best deal. As long as you’re paying the right price for the home, interest rates will likely remain relatively steady in the short term. You can also take advantage by refinancing your current loan. But if you’re looking to buy a house in Florida, you’ll probably need to get the right type of mortgage for your needs.

If you’re looking for the best mortgage rate in Florida, be sure to shop around. While you can lock in your interest rate for 30 years, consider a 30-year fixed-rate mortgage. It will provide you with fixed monthly payments for a much longer period of time.

While the interest rates in Florida are lower than the national average, home prices, monthly ownership costs, and other cost-of-living metrics are all at par with the national average. While buying a home in Florida may not be as cheap as buying a home in other states, it is a great option for sun worshippers. If you’re looking for a home in Florida, it’s definitely time to shop around.

In addition to the still lower interest rates, you can also take advantage of housing assistance programs in the Sunshine State. The Florida Housing Department offers various government-backed loan programs and a 0% interest rate loan for closing costs. This loan doesn’t have to be paid back until you sell the house. Aside from the down payment and closing cost assistance, you’ll also be gaining a stake in the state’s booming housing market.

Interest rates in Florida follow national trends. In May, 30-year fixed-rate loans averaged 4.25%. This rate fell to 4.25% in July, August, and September, indicating that the current market is experiencing a downward trend. However, many lenders still offer attractive rates, so it is worth researching your options. Here are the most recent mortgage rates in Florida and where you can find them. You may also be surprised to learn that these rates are still significantly lower than the national averages.

Fortunately, a recent Florida legislative change is helping judgment debtors. A recent change to state law has made interest rates in Florida more predictable. The statutory interest rate is no longer based on the interest rates in effect on the day the judgment was entered. The state legislature attempted to limit interest rates in Florida by setting a ceiling for judgment interest rates and providing a uniform number for some limited situations. These new laws may help judgment debtors in Florida, but only time will tell.

While credit is an important financial tool, it also requires discipline, responsibility, and the right approach to avoid damaging your credit and incurring fines. To get started with credit lines in Florida, contact your local bank.

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Orlando Realty’s “Easy Exit” listing agreement.

Posted on by Jenny Zamora

When somebody lists their house with a real estate agent, they always worry that the agent won’t perform as promised and they will be stuck with them until the listing agreement has expired costing your home valuable time and exposure on the market.

Most real estate agents require you to sign listing agreements that have a cancellation fee of several hundred dollars when the homeowner wants to terminate the contract with the agent they hired to represent them.

It’s for this reason that I use an “Easy Exit” listing agreement. This takes the risk out of listing your house and having to worry about us not performing.

When you list your home through our INSTANT AMNESTY Listing Agreement, there’s no risk to the homeowner. We are so confident that you’ll be happy with the results that we get you that you can cancel your listing with us at any time and NO CHARGE! There is NO cancellation fee in our listing agreement.

• You can cancel your listing anytime.

• You can relax, knowing you won’t be locked into a lengthy contract.   

• Enjoy the caliber of service confident enough to make this offer.
   In my 8+ years as an Orlando realtor, the few times that someone has wanted to cancel a listing agreement with me was because they decided to keep the house instead of selling, it has never been for non-performance. When it comes to real estate, my skills and work ethic are among the best in Orlando and I have the track record to prove it. My confidence comes from thousands of successful real estate transactions and thousands of happy clients. The fact that most of our business comes from referrals from past clients says it all.

Whether it’s a traditional listing or an Orlando short sale, I get the job done no matter what.

Tired of your realtor not performing and wasting valuable time on the market? Give us a try, you have absolutely nothing to lose. Visit us at https://orlandorealtyconsultants.com/ or call us at 407-902-7750 so that we can discuss your best options. Jenny Zamora Lic. RE Broker

Orlando Vacation Homes

 

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What Does A Real Estate Agent Do?

Posted on by Jenny Zamora


A Typical Day in the Life of a Real Estate Agent

Technically, as defined in the Cambridge Dictionary, a real estate agent is someone whose business is to arrange the selling or buying of homes, vacant land, offices, or buildings for the sellers or buyers. Technically, it’s an accurate definition, however, it doesn’t tell you everything a real estate agent does on a day-to-day basis.

In my world as a Real Estate Broker, each day is different and unique; while this can seem to be an appealing aspect of being a real estate professional, it can be quite challenging, depending on the Realtor’s skill and experience level. So, exactly what does a Realtor do on a typical day?

Managing a Real Estate Brokerage

The majority of real estate agents [especially newbies] typically work inside an office provided by the broker that employs them. This is good in the sense that they can discuss opportunities and exchange ideas with their co-workers, get updates on new listings, as well as discuss buyers’ and sellers’ needs.

There are quite a few administrative tasks that occur every day at the core of a successful real estate brokerage. Depending on the size of the brokerage they may have someone who works as an administrator to make sure an office is a well-oiled machine.

A good Realtor

  • Stays current on local and regional market activity and industry news.
  • Consistently researches active, pending, and sold listings in their farm area.
  • Maintains, completes, submits, and files any paperwork, such as real estate contracts, records, etc. with the proper agencies.
  • Coordinates and schedules appointments, showings, open houses, and any meetings with clients and other agents.
  • Develops and implements marketing plans for listings and creates marketing materials like fliers and other promotional materials.
  • Responds to incoming emails and phone calls
  • Keeps their website updated with fresh content and is active on social media and real estate blogs.

Most successful real estate agents hire an assistant to assist with the day-to-day activities, allowing the agent or broker to focus on more important activities.

Real Estate Agents Sell Themselves In Addition To Selling Homes

Being able to consistently attract new clients is crucial to the success of a real estate agent. Below are a few ways a real estate agent can attract new clients:

Marketing Themselves. Competition is fierce in the world of real estate. A successful agent should have a niche in their local real estate market and become an expert in that niche. This helps differentiate agents out there and what they specialize in. A successful real estate agent has a monthly budget set for marketing themselves through their website, fliers, video, and pay-per-click advertising.

Generating Leads. Generating leads via networking with other real estate agents as well as anyone else they come in contact with such as friends, family, business associates, and so on is an extremely valuable asset to a successful Realtor.

Treating Everyone as a Prospect. Everyone lives in a home, condo, townhouse, or apartment. Therefore, to a real estate agent, anyone they meet will eventually need to buy, sell or rent a home. A real estate agent spends a substantial amount of time cultivating leads and meeting with potential buyers and sellers.

Listing Agents

Listing agents specialize in working with homeowners who need to sell their homes. They have a responsibility to understand the needs of a seller with every new listing.

They must demonstrate to the homeowner their knowledge, marketing abilities, and negotiation skills. A successful listing agent must be an expert at researching the current market activity and comparable properties to determine an accurate listing price for your property. Here are some of the responsibilities of a listing agent.

  • Staging The Home: It’s the agent’s responsibility to advise the seller on tips to make sure the home shows off it’s best features during showings. A bit of de-cluttering and some touch up paint can go a long way in making a home look its best. Depending on the situation, you may want to have the home fully staged prior to listing it.
  • Take Quality Photographs: The listing agent is required to take [or hire somebody to take] quality photos inside and out in order to prepare a proper listing presentation and advertising materials. In addition.
  • Pre-screening and Negotiating With Potential Buyers: Your listing agent is in charge of making sure potential buyers are pre-qualified before showing the house. Once you have secured a qualified buyer the agent will be in charge of helping negotiate the best price.

Buyers Agents

Buyers agents are real estate agents that specialize in working with buyers. Their responsibilities include meeting with potential buyers to determine what their real estate needs are as well as to help them get pre-qualified for a mortgage if needed.

Once the agent knows exactly what the potential buyer is looking for, they will alert the buyer as soon as a property meeting their needs hits the market and schedule a showing.

Another option that agents utilize to narrow down a search for a buyer or to perform research on the competition for sellers is the MLS tour. This allows agents and brokers to quickly gather first-hand knowledge on several available properties in the local market.

Developing Your Skills
Although continuing education is a requirement to maintain a real estate license, it is also an opportunity to develop the skills that will keep an agent at the top of their game or open a door to new real estate opportunities within the regional or local market. Continual development is crucial to the long-term success of real estate agents and brokers. Continuing education not only widens their scope of expertise, but also improves their proficiency, knowledge, and marketability as real estate professionals.

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The Ways it Pays to Work with an Orlando Realtor

Posted on by Jenny Zamora


Are you thinking about buying or selling an Orlando home on your own so you can try to save yourself a few thousand dollars? If so, then this post is for you…

Go SOLO or hire an Orlando Realtor?

Some people believe that it’s no big deal to buy or sell a house on your own. They think it’s a pretty basic process to buy or sell a home in Orlando when in reality, there’s a whole list of things that need to happen throughout the process… for both buyers and sellers.

Here’s a checklist of the things your Orlando Realtor will help you with throughout the buying or selling process.

  • Determine how much you can afford to pay for a home.
  • Help check your credit report.
  • Price your existing home with a market expert.
  • Put existing house on market and decide where to advertise to reach best potential buyers.
  • Schedule appointments to show current home or to see new ones.
  • Host open houses to sell your existing home.
  • Find a new home for you with all the features you want.
  • Investigate school system as well as research neighborhoods and local amenities.
  • Analyze comparable home sales before making an offer on new home.
  • Meet home and pest inspectors for review of your current home.
  • Negotiate the terms of sale or purchase, including repairs or concessions.
  • Help you choose mortgage lender.
  • Help you obtain title insurance.
  • Help you obtain homeowners’ insurance.
  • Review your HUD [Closing Disclosure] statement and approve closing costs.
  • Coordinate your closing with lender and title company.
  • Conduct final walk-throughs with you of the home.
  • Review and sign closing documents.
  • Review homeowners’ association documents for new home.
  • Consider offers for current home.
  • Order the title search.
  • Get the signed contract to the seller.
  • Hire attorney or title company to complete closing research.
  • Hire surveyor to do a survey if needed.

Hiring an Orlando Realtor

I’m sure most of you who were going to sell on your own have probably changed your mind after reading this post. If you haven’t, then at least you’ll know what to expect moving forward with the process. If you aren’t sure and would like to speak to an Orlando Real Estate Broker, please don’t hesitate to call or text me at 407-902-7750. Or just visit us at
https://orlandorealtyconsultants.com/

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