Tag: Orlando Realtors

Orlando Realtors that were forged by fire are prepared for any market

Posted on by Jenny Zamora

 

The market crash of 2007 was a great school for young Orlando realtors

Shortly after the real estate market collapse of 2007, many Orlando realtors decided to give up being a realtor as a profession. They just weren’t making enough money to pay their bills and rather than trying to adapt to the new reality of Orlando real estate, they just gave up and looked for employment elsewhere. It’s not very difficult to be a successful real estate agent in a hot market. It basically comes down to listing the property on the MLS, planting a sign in the front yard and wait for a contract. In a hot market, properties sell themselves.

 

However, shortly after the market collapse 6 years ago, it was anything but a hot market. Orlando became flooded with foreclosure properties and short sales and suddenly one third of all Orlando homeowners were upside down on their mortgage. Lenders were also caught with their pants down not knowing how to handle this huge tidal wave of mortgage holders that all of a sudden stopped making their monthly mortgage payment. Realtors were at a crossroads, they had to decide to either adapt to this new jungle of short sales in the market or leave the jungle completely and find another way to pay the bills. Many Orlando real estate agents gave it a shot and did their best at doing short sales but found out very quickly that doing a short sale was 10 times the work of doing a regular listing.

 

There was another breed of agents out there however that weren’t intimidated at all by the drastic changes that were happening in the market. Instead of being discouraged, they saw an opportunity and went for it by jumping in with both feet when the market was at it’s absolute worst. There’s a certain type of person that will do whatever it takes to be successful and they won’t stop until they achieve their goals. This personality type fits well with being a short sale specialist. You have to be tenacious and extremely hard working to make it. Just imagine getting started in real estate at the worst possible time in history…and make it! Now that the market has been getting better, these same agents are really taking it to the next level because things are getting even easier because they’ve already experienced the worst.

 

Studies show that the majority of Orlando Realtors that started 2007 through 2009 are still active as opposed to agents who began working when the market was hot from 2004 through 2006. The market crash was a great battle ground for young realtors to earn their stripes. The experience of grappling with distressed real estate and being forced to get up to speed on the latest internet technologies like social media marketing has prepared this newest generation of real estate agents to better handle the process of buying and selling real estate.

 

 

Orlando Real Estate Broker

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

Save Time and Money by hiring an Orlando Buyer’s Agent

Posted on by Jenny Zamora

 When talking about residential real estate in Orlando, sellers will usually do extensive research before hiring a real estate agent that they feel comfortable with. They will ask family and friends for advice, research on line, read reviews, ask for references, etc. Then after coming up with several prospects, sellers will go a step even further and interview the potential realtor in person.

Buyers however, tend to be much less cautious with their approach. If a buyer looking for a home in the Orlando area sees a sign that says “Orlando homes for sale”, they will have no problem going with that real estate agent without knowing a thing about the person.  They’ve just put this person in charge of their search for a new home without thinking twice.

Most potential home buyers tend to have a “What do I have to lose?” type of attitude. They figure that if the realtor shows them some houses that they like then that’s good and if not, then no big deal, they will just go to another one. In my opinion, this is a horrible approach and a buyer could end up paying more money for a house in the long run, not to mention the potential frustration it can cause you along the way.

Researching a Buyer’s agent is just as important as researching a listing agent.

Don’t rely solely on an advertisement to tell you what you need to know about an agent. Sure, the agent will probably have ads about homes that will most likely contain a nice set of photos, a brief summary of the property’s major amenities, and a stated asking price, etc. Don’t get me wrong, all of these things are important for an ad as far as making it “eye catching” so that a  buyer will want to see the property. However, this tells you absolutely nothing about the agent that you will be working with.

Here are a few things you should focus on when looking to hire a buyer’s agent.

Experience: Find out how many years of experience the realtor has in the area that you are interested in. You want an agent that will know a good deal [based on the criteria that you’ve given them] as soon as it hits the market.

Education and training: Although nothing takes the place of experience in the real estate industry, it’s important to know that your agent has had the proper training and education in order for them to be a successful buyer’s agent. Find out if they have any special endorsements in their area of expertise.

Track record: Buying a house will be one of, if not the most important decision of your lifetime. This is why you should hire someone with an excellent track record as a buyer’s agent. How many houses have they sold in the past 6 months, year, etc. Also, ask for references from past clients. If they say that they don’t have any, then something’s wrong and I suggest that you keep looking.  

Area of Expertise? Although many Orlando real estate agents work with both buyers and sellers, it’s far better for the buyer to seek out a buyer’s agent. This is a real estate agent that specializes in locating houses for potential buyers. They are on the MLS everyday seeking out houses for potential buyers and are highly tuned in to what’s for sale in their farm area.

 

A good real estate agent, whether you’re buying or selling, is there to look out for your best interest. Looking for and finding you a house that meets your criteria is just the beginning. A good real estate agent will walk you through the entire process and make sure that everything gets done correctly legally. From negotiating the price to setting up home inspections to closing the transaction, having a good realtor in your corner will save you time and money.  

 

 

Orlando Real Estate Broker

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

Who decides the value of a Short Sale?

Posted on by Jenny Zamora

Orlando Realtor –  Video transcript who decides the value of a short sale?

Hello, John Conde here with https://orlandorealtyconsultants.com/ , and today we’re here to talk about short sales

John Conde: OK first question?… The woman with the Orange hair

Audience: Who decides the value of a Short Sale?

John Conde: OK…great question and a crucial part of the short sale process.
The valuation of a short sale, as determined by the short sale lender, is probably the single most important factor of the transaction.    ….The way it works is; after we submit an offer to the bank, the bank will then order a BPO.. AKA [Brokers price opinion] on the property.

This person will usually be a local realtor that will go out to the property, and after doing their research on recent sales in the neighborhood, will give the lender their opinion of what the property is worth.

Whatever, the BPO comes in at will be the negotiating point between the lender and potential buyer.

John Conde: Next question…

Audience: Does it matter if the house needs repairs?

John Conde: Yes, it does matter and that is something that they are supposed to take into consideration when giving their estimation of value.

So they do the BPO…Now At this point there are 3 things that can happen that will dictate what follows.

1… The BPO comes in at a fair number that everyone is happy with and we proceed to closing.
2… The BPO comes in too low and the bank insists on another one being done… It happens sometimes.
3…The BPO comes in so ridiculously high that the buyer threatens to walk.
Now when this happens, you will find out what your short sale agent is really made of….The agent can choose to do one of 2 things.

#1- Just accept what the bank says, let the deal fall apart and pray that a new buyer comes along
or
B- Do whatever it takes to prove to the bank, that the BPO agent got it wrong.
Now at our company, We do this by preparing an in depth report of our own… called a CMA which is also known as a comparative market analysis]. This report contains even more information than the BPO agent provided them with.

What a CMA basically comes down to is a list of Active, Pending and Sold properties in the area… and  the whole purpose behind this is to get the lender to order another BPO or if we’re lucky they’ll just use ours.

I hope this was helpful in answering your questions.  Remember…we’re here to help…it’s up to you to take the next step…Thanks for watching

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

Avalon Lakes Short Sale | 13736 Mirror Lake Dr. Orlando

Posted on by Jenny Zamora

Avalon Lakes Short Sale | 13736 Mirror Lake Dr. Orlando

This is a Gorgeous 2 story home located in the highly sought-after gated community of Avalon Lakes. This house has been lovingly maintained and is move-in ready. This 2,219 square foot beauty has 4 large bedrooms and 2 1/2 bathrooms. It’s meticulously designed floor plan was created to be easy on the senses and great for entertaining guests. With great amenities like a community pool, fitness center and tennis courts this home is perfect for active families.

Property features

* Bamboo Floors

* Solid Wood Cabinetry

* 2 Car Garage

* 1st Floor Master Bd rm

* Community Pool

* Tennis Courts

* Fitness Center

* Playground

With easy access to major highways, this property is close to restaurants,  shops, and entertainment. Don’t wait! This one won’t last for long.

 

Visit us at Orlando Realty Consultants to see this or any other of our terrific Orlando properties.

Orlando Real Estate Broker

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields

The top 5 Reasons why you should invest in Orlando real estate

Posted on by Jenny Zamora

 

 Orlando is famous for being one of the most frequently visited cities in the world. Currently, the demand for Orlando real estate is approaching an all-time high. In fact, Orlando not only attracts buyers from other U.S. states, but it also attracts more buyers from other countries than any other city in the world. It just makes more sense to people investing in real estate as opposed to investing in the unstable world of the stock markets. Historically low mortgage rates are also a huge reason why smart investors are on the hunt for an Orlando investment property.

There are several reasons why Orlando is known as “The City Beautiful”. Read along and find out why “in my opinion” Orlando  is a great place to invest in real estate.

1. Natural scenic beauty – It’s a well-known fact that Orlando is a place filled with natural beauty including clear blue lakes, lush green forests and hosts a large variety of wildlife that is just to vast to mention. This is just one of the reasons that many Orlando neighborhoods create the perfect setting for raising a family. Living amidst such natural beauty is a temptation for any family to call Orlando home.

2. Great Weather conditions – One of the most influential reasons why people want to live in Orlando is the weather. Known for its almost year-round warm and tropical climate, Orlando is now home to countless snowbirds that have had enough of bone chilling temperatures of their hometown. With only a couple of months of moderately cool weather, Orlando provides a much welcomed change for people coming from the Northern states.   

3. Housing inventory – Although inventory is limited right now because of the huge demand for housing in Orlando, there are more investment opportunities popping up every day. For the smart investor that is constantly on the lookout for his next project, Orlando real estate provides the perfect vehicle to make a full-time living out of real estate investing.

4. There’s Always a Demand for Luxury Homes– There’s is always a unique demand for luxury homes in Orlando. These homes are rented out with both long-term as well as short-term rental contracts. Given the high tourism numbers year round, luxury rentals are always in high demand and render good profits for investors that own such properties. Because of the rising demand for luxury vacation homes, investors know that they will have no problem in getting these homes occupied.

5. Major Tourist attractions- With world class amusement and theme parks such as SeaWorld,  Walt Disney World and Universal Studios  all located in Orlando, the real estate market will always be strong.  The proximity of a house to these tourist attractions will only add to its value.

As a potential investor, there are a million reasons to  invest in Orlando real estate. With the help of our website you can Search Orlando properties like a pro in the comfort of your own home. Within seconds you’ll have a list of great Orlando properties for sale complete with listing price, photos and every other detail you want to know about the property.

 

Let's Keep In Touch!

New ORC Form Lead

"*" indicates required fields