Tag: Orlando Realtors

Orlando Short Sale Buying Tips

Posted on by Jenny Zamora

 

Buying a short sale home can potentially land you a deal of a lifetime. It can be a long drawn out process but if you can mange to hang in there until the end, chances are that you’ll be glad you did.

 

Our brokerage specializes in doing short sales for distressed homeowners and I can’t tell you how many times we’ve lost buyers potential buyers because they get tired of waiting on the lenders.

 

The flip side to that is we’ve also had many clients that were willing to hang in there and see it through to the end. By doing so they ended up with a heck of a deal.

 

If you’re one of those people willing to stay the course throughout a short sale process, then here are some tips that might help see you through.

 

1- Enlist the help of an Orlando short sale specialist.

An experienced short sale realtor can quickly provide you a list of all the properties that are listed as short sales in the area that you’re interested in. They can also advise you on negotiating an offer. “Short sale specialists” can easily be found on Google.

Interview at least three realtors and ask them to provide you with references from past clients.

 

2-Do A Title Search

It would be wise to do a title search to find out how many liens are on the property. In a short sale, each lien holder must be dealt with and satisfied before you can close on a property.

Your realtor should be able to help you with this because if they close a lot of deals with the same title company then they should be willing to provide a quick title search either free of charge or at least at a discounted rate. Title searches usually cost between $200-$300.

 

3-Be Patient

There are many moving parts in a short sale but there are two main things that need to happen. The sellers must first agree to your offer, then the lender must also agree to the offer.

There’s a whole lot of paperwork going back-and-forth between the sellers and the lender which can sometimes take several months to process depending on who the lender is. If there are second and third lien holders, it can take even more time.

 

4-Have Your Financing Ready To Go

It’s always best to offer cash in these transactions. This will capture the lenders attention and your offer may get accepted even over a higher offer that depends on financing. However for most people, paying cash for a property is not an option. The next best thing is to be pre-approved by a lender to make sure you can close quickly.

 

 

 

 

Orlando short sale expert

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

This field is for validation purposes and should be left unchanged.
TOC*

Alternatives To Short Sale

Posted on by Jenny Zamora

Alternatives To Short Sale Video

 

If your lender doesn’t agree to a short sale on your house, there are several other options available to you.
One option would be a “deed in lieu “, which is basically a voluntary foreclosure and all that happens is that you sign the property back over to the bank without going through the whole legal process involved with a foreclosure. You should be aware however that a deed in lieu will show up on your credit as a foreclosure.

 

Another option available to you, if you’re interested in trying to keep your house is a loan modification.  A loan modification is when we try and get the terms of your loan adjusted so that you can afford to keep your home. We do this by either getting your payment reduced or reducing the principal balance or both.

 

Bankruptcy is also an option to avoid foreclosure. There are 2 different types of bankruptcies, a chapter 7 and chapter 13. In this case you would need to talk to a Bankruptcy attorney, and most of them will give you a free consultation on the initial visit.

What if you just let your house go to foreclosure?

 

I would highly recommend that you don’t take this approach because you are just giving up, and when you give up then you’re giving up all control of your situation to the bank and then they can do what they want at that point.

 

Also, don’t think that just because you let it go to foreclosure, that you will be free of that debt. Actually the opposite will probably happen and the bank will hit you with a deficiency judgment for the difference between what you owe and what the property sold for at the auction.

 

So please if you find yourself in this situation, consult with a licensed real estate professional figure out what your best option is and take action.

 

Feel free to call us at 407-902-7750 or visit us at https://orlandorealtyconsultants.com/short-sales/

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

This field is for validation purposes and should be left unchanged.
TOC*

Orlando Realtors To Offer Major Rebates!

Posted on by Jenny Zamora

Orlando Realtors Offer Major Rebates To Public Servants

As of August 26, 2014, our brokerage, Orlando Realty Consultants [ORC] now offers rebates to public servants that use our services.

Jenny Zamora, LIC RE Broker at ORC has decided to offer a rebate on home inspections to veterans, active military, first responders, and teachers when they use her company to sell or buy a home in Orlando. Clients will receive up to $100 back at the closing of the transaction.

When the Orlando RE broker was asked to comment on her current promotion she said “It’s the least we could do to help out these local heroes that teach our children and protect our country. If anyone deserves a rebate, it’s them”.

Major Improvements To The Orlando Realty Consultants Website

Orlando Realty Consultants.com the company’s main website has recently been upgraded with a responsive theme to enhance the performance as well as the capabilities of the site. These changes have enhanced the speed and function of the site for all mobile devices like smartphones and tablets. Now, it’s just as easy to navigate the site from any mobile device as it is from a traditional laptop or desktop computer.
“More people than ever are using smartphones instead of their home computer to search the internet and these improvements are dedicated to them”

The new site is also equipped with the latest state-of-the-art IDX search software allowing users to search Florida homes for sale on the MLS just like a pro from the comfort of their own home. Zamora says, “The goal is to provide our clients with a convenient and pleasurable experience from any device”.

The new website also offers users an option to sign up for new home listing alerts as well as current market condition reports.

Zamora goes on to explain how important it is to be familiar with the latest technology related to the real estate business. She went on to say “These days, real estate agents have to be tech-savvy or they will get left behind and their clients will suffer for it”.

ORC specializes in selling Orlando real estate for top dollar in the least amount of time… Any price, condition, or situation.

Even if you’re in foreclosure, our Orlando short sale experts guarantee results. Any price, condition, or situation. Over the years our company has closed thousands of successful real estate transactions in Central Florida.

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

This field is for validation purposes and should be left unchanged.
TOC*

Orlando Realtors Focus On Echo Boomers

Posted on by Jenny Zamora

These young Americans were born between the years of 1982 and 1995. They are following the “Baby Boomer” generation and are now at the age where real estate and housing is a priority for them. The idea of the”American Dream” looks very different for Echo Boomers than it did for their parents the “Baby Boomers”.

In the Old school way of thinking, owning a home was a top priority for young families. For some reason, there was an extra sense of security if you owned a home. Even though the bank was the real owner, having a mortgage statement with your name on it was something to be proud of.  

In my opinion, the Echo Boomers have the right idea. They have no mortgage commitment which gives them the freedom to pack up and move on whenever they feel like it. They also prefer to live in more social areas as opposed to living in the suburbs. In USA Today it is said that only 20 percent of Echo Boomers believe owning a home should be a top priority.

This young group is all about having freedom and let’s face it homeownership is about as far from freedom as you can get. 

Orlando Realtors Face New Challenges

The majority of this group will prefer to rent a home as opposed to buying. However, 20 percent of Echo Boomers will still pursue buying as a first option.  Because of the expectations of this new generation of home buyers, Orlando real estate agents will have to adjust and specifically appeal to what’s to this demographic.  Echo Boomers prefer to walk or ride their bikes whenever possible which means they are attracted to neighborhoods with nearby shopping, restaurants, trails, etc.

Another characteristic of this group is that they don’t like to stay at the same job for more than 2 years or so in order to survive, they need to be in a market that presents new career opportunities for them. Realtors targeting this group would be wise to embrace the same tools that they use to communicate these days, especially social media.

Chances are that when an Echo Boomer needs to hire a realtor, they will probably choose an agent that is active across the main social media sites.

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

This field is for validation purposes and should be left unchanged.
TOC*

7 Qualities of a Top Realtor

Posted on by Jenny Zamora

Knowledge of their local market

It’s absolutely crucial to hire an agent with an intimate knowledge of the local market. The MLS is a great tool when you’re doing some preliminary research like cost per sq ft and getting comparables. However, you need a realtor who can go deeper than that, someone that has local knowledge of the area you’re looking in. When you find a realtor that lives eats and breathes real estate, they’ll know things that other real estate agents won’t.

Relationships with homeowners

Realtors that specialize in certain areas will sometimes know the homeowners that are selling, personally. Whether it was from an open house in the same neighborhood or maybe from knocking on doors. A good realtor will go out of their way to create relationships with homeowners looking to sell their property.

By having a good relationship with the seller, the realtor may have some useful information like how motivated the seller is and if they need to move out quickly or maybe they don’t care if it sells at all.

Knowledge of Pocket Listings

These are listings that are not marketed through the MLS for one reason or another. Although pretty rare, pocket listings do exist, and usually, only agents that work in that area will be aware of them.

Experience as a Listing Agent

Like in any other competitive profession, there is no love lost when it’s time to negotiate the sales price. The buyer’s agent is trying to get the deal of a lifetime while the listing agent is trying to get $10,000 over the asking price.

Having an experienced agent in your corner who has “been there and done that” many times in their career will give you peace of mind that you’re in good hands. Is it really worth losing money on the buying or receiving end of a transaction just because you wanted to help your friend or family member who just got their real estate license?

Tech Savvy 

It’s no secret that most potential buyers start their search online. Fortunately, these days most agents will allow clients to search the MLS right from the agent’s website. However, even though the MLS is the most popular site for real estate searches, there are countless others now and your realtor should be familiar with and have access to all of them.

A good realtor will use all of his/her tools in their realtor toolbox to get the job done quickly and efficiently. You can start to see how having someone experienced in your local market is a huge advantage. 

Has Been Established For A Long Time

If a realtor has been in business for more than 10 years and is still thriving, then you know they’re doing something right. Getting your real estate license is relatively easy and most people that get their license don’t end up making it as realtors. Being a successful realtor year after year takes hard work, dedication and a never say die attitude, especially with an ever-changing real estate market.

Outstanding Track Record

This is the “proof in the pudding” when it comes down to it. It’s crucial that you find out what the realtor’s track record is. You should find out how many transactions they’ve done in their career overall and how many in the last year or six months. If their numbers don’t make you say “WOW!”, then you should probably move on to the next candidate. It’s also a good idea to ask for references from some of their past clients.

Easy Exit Listing Agreement

Even with all the ways, we can research an agent, there’s a chance that you still might end up with someone that isn’t producing the results that you were promised. Be very careful when choosing your agent and make sure that there’s a clause that lets you cancel the listing at any time for non-performance with no cancellation fee. If not, you could be stuck with a bad agent for the remainder of the listing contract or pay a hefty cancellation fee.

We’ve completely eliminated this problem in our own company by using what we call our “Easy Exit Listing Agreement”. It gives homeowners peace of mind knowing that if w don’t perform, then they can cancel on us anytime with no cost to them.

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

This field is for validation purposes and should be left unchanged.
TOC*