Tag: Orlando Realty Consultants

Orlando Short Sales: Ask The Expert

Posted on by Jenny Zamora

Orlando Short Sale Expert Q & A

In this post, we address the most common questions among consumers about short sales and how they differ from traditional sales. In the hot seat, today will be our very own Orlando short sale expert Jenny Zamora. She’s been successfully doing short sales since 2004 way before most people even knew what a short sale was.

Question: What’s the difference between a short sale and a traditional sale in a real estate transaction?

Jenny Zamora: In a short sale scenario, the home is sold for less than what’s owed on the mortgage. Short sales usually take much longer to complete because they need to be approved by the lender/mortgage holder. Sometimes there is more than one mortgage on the home which can sometimes complicate things if both lenders don’t agree.

Once the lender [s] have agreed to the short sale amount then it becomes a normal transaction with a contract signed by both the seller and buyer.

Question: How is a foreclosure different from a short sale?

Jenny Zamora: A foreclosure is when the lender files a lawsuit against the homeowner because they’ve failed to make several mortgage payments and haven’t pursued any other options such as a short sale, loan modification, or paying off the loan. As a result, the property is either sold at a public auction or taken back by the bank if the reserve hasn’t been met.

With a short sale, the homeowner is usually between 60 to 180 days behind on their mortgage payments because of some kind of personal or financial hardship. The property also must be worth less than what’s owed on the note for the short sale to be approved. Although a seller can’t profit from a short sale, many lenders often provide the sellers with relocation costs [usually around $3000] so they have money to help them move into another home.

A short sale however isn’t nearly as bad nor does it stay on your credit report as long as a foreclosure will.

Question: How long does it take to complete a short sale in today’s market?

Jenny Zamora: Short sales used to take 3 to 4 months and even longer to complete even if you followed up with the banks several times per week. As a result, many buyers were getting frustrated and walking away. This happened mostly because lenders just weren’t equipped to handle that many short sales at once and they had no systems in place to help streamline the process. These days, lenders have systems in place and more staff to help move the short sale processing along much faster resulting in much faster responses, typically within 2 to 3 weeks.

Question: Do you have any advice for someone wanting to purchase a short sale?

Jenny Zamora: 1st and foremost to make sure they’re dealing with a short sale specialist. If the agent isn’t familiar with short sales and how they work you could end up being disappointed and not getting your offer approved. Even though I’ve been doing short sales in Orlando since 2004, I’m constantly keeping up to date on the latest information when it comes to short sales, bank procedures, and guidelines.

An experienced short-sale Realtor knows how important it is to stay up to date. Just like there are specialists in the medical field, the same holds in Orlando real estate. We specialize in foreclosure prevention and short sales which is why our company is so proactive in staying educated and informed.

Question: What are the things that can most likely go wrong with a short sale transaction?

Jenny Zamora: Some things can happen with a short sale that is sometimes beyond our control. The most important thing to realize is that it’s ultimately up to the lender to approve or deny a short sale offer. This is another reason to work with a short sales specialist. If the bank comes back with a value that’s way too high, we have to do everything we can to dispute their valuation. Sometimes that means providing contractor’s estimates for repairs as well as a CMA on the home.

A traditional listing agent may not even be aware that you can dispute the bank’s valuation of a property and just let the deal fall apart.

Do you need a Realtor to short sale?

Question: Do you need a Realtor to short sell a home or buy a short sale?

Jenny Zamora: Yes and Yes… and I can’t stress enough to hire a Realtor with a lot of experience in short sales. On the seller’s side, the home needs to be listed by an agent as a requirement by the lender. You also want a strong negotiator in your corner.

As a buyer, it isn’t required to hire your own buyer’s agent. However, if you don’t then you’ll end up using the listing agent as your agent… I strongly recommend you hire your agent that way you have someone looking out solely for your best interests, especially when it comes to negotiating.

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10 Creative Ideas To Help Sell A Home

Posted on by Jenny Zamora


Orlando Real Estate Marketing Ideas

Whether your home is in great condition or it needs a ton of work, the key to selling is a great marketing plan. As a motivated seller, you want your home to stand out among your competition to potential buyers in any way that you can.

A strong basic marketing plan is good…. but not good enough. There are a lot of little things that are often overlooked by Realtors. These real estate marketing tools take a bit of extra time and effort to prepare but they can have a huge impact on getting your Orlando home sold for top dollar.

If you team up with the right Orlando Realtor who’s willing to put in the extra effort, everybody wins!

These are some often overlooked real estate marketing ideas that have served us well and incorporated into your marketing plan.

Create A Floor Plan

By creating an attractive and professional-looking floor plan which represents your home, buyers get a clear picture of your property at a single glance. In addition to having paper copies available, take it a step further by making it available online.

A floor plan isn’t hard to make either… Your Orlando Realtor should be able to do this for you at no charge. After all, it’s going to benefit them as well by making your home that much more buyer-friendly.

Create A Professional Video

Video is more popular than ever and only continues to trend upwards. Just go to Facebook and you’ll see more videos than images. A professional-looking video tour of your home is important in selling an Orlando home these days.

Our company Youtube Channel “Orlando Realty Consultants” contains a video for every one of our listings and has proved to be an invaluable tool in our home selling arsenal. A well-made property video will engage a potential buyer much more than text and images.

Your Orlando real estate agent should offer this service to you. If they aren’t using video as part of their home selling marketing strategy then you’re missing out on a serious amount of exposure to potential buyers.

 Provide Utility Bills

In my experience, only about ten percent of home buyers will ask for the seller to provide them with a copy of their utility bills so they know what their monthly expenses will be.  Instead of waiting for them to ask for this information, why not have it available before they even think about asking. Buyers will appreciate it … especially the ones that wouldn’t have even thought about asking.

Provide A List of Service Providers

Everybody loves convenience. They want to start enjoying their new home as soon as they get moved in and settled. If you have service providers that you are happy with such as lawn maintenance, pest control, house cleaners, etc… then share this information. Compile a list of service providers that you’re happy with and have it available to your buyers. This will show buyers that you care about your home and that it’s been well maintained since the time you lived there.

Home Owners Insurance Provider

Depending on how experienced home buyers are with the process, they may be clueless in some or even all aspects of the home buying process. Homeowners insurance is a big one not only in price but in service. If you’re happy with your homeowner insurance provider, then you should make your potential buyers aware of what company you’re using. You should even give them the contact info of whom you deal with. You never know, it could end up saving you a few bucks on your next house.

Neighborhood Info

If you live in a neighborhood like mine you’ll be dealing with a very strict homeowners association. It’s best to let your buyers know about the basics. Although this may seem unimportant to some buyers, others will most definitely appreciate knowing what to expect moving forward.

Local School Information

If you’re in a grade-A school district, you should make your buyers aware of that. Even if you don’t have any children of your own. Being in a good school district is advantageous for maintaining property values.  Also, let them know if the local schools have won any awards or are involved in anything else important within the community.

Public Transportation

Although it may not be important to you, it may be extremely important to the new homeowners. Things like bus transportation, train stations, bike paths, etc. are all great to have in your information packet.

Share What You Love About The Town

Provide a written description of the reasons you love your neighborhood. This should be easy to do because it taps into your emotional side… just as it will into theirs. Writing a well-prepared narrative about things you love most about your home and neighborhood is a fantastic way to add a personal touch….emotions sell real estate!

If you think that the above information will be useful in the marketing of your Orlando home, then here are a few more…

  • Touch Up Paint- provide the paint colors of both the inside and the outside of your house so buyers can easily maintain the paint or buy more of the same if need be.
  • Water Shutoffs- If your water shutoff valve is in an unusual place, let the buyers know in case they need to get to it in a hurry.
  • Trash Days- Inform the new buyers of trash and recycling days.
  • Appliance Info- Provide as much information as you can about your appliances including warranty information, etc.

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The 9 Top Reasons Why Some Orlando Homes Sell Faster

Posted on by Jenny Zamora

1- Curb Appeal

Believe it or not, curb appeal is the #1 factor that affects the time a home is on the market. By making your home look its best from the street, you are off to a good start.

 2- Good School Districts

Studies show that homes in good school districts sell faster and at a premium than homes located in less desirable school districts. When Orlando Realtors were surveyed, they said that 1 in 5 people would pay up to 10% over their budget to be in the right school district.

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 3- Move-in ready

Orlando homes that are move-in ready sell 12% faster than homes that need some work or are needing appliances. The less you give a potential buyer to complain about, the better off you are.

 4- Great photography

Orlando homes that are marketed with professional photos sell much faster than pictures taken with your smartphone. Using wide-angle lenses will also make rooms look larger and show better in print as well as online marketing.

 5- Staging makes a huge difference!

Homes that are staged spend an average of 73% less time on the market than homes that aren’t staged.

 6-Video Marketing

Using virtual tours and Youtube videos to market a home will get it sold 20% faster than when no video marketing has been done.

 

7- Upgrades

Homes with upgrades such as quartz, granite, custom cabinets, stainless appliances, high end light fixtures, tankless water heater, etc. sell anywhere from 34 to 61 days faster than homes with n om upgrades.

 

8- Pricing it Correctly

Pricing a home correctly from the start will probably sell in less than 2 months. Overpricing can cause your home to sit for 6 months or more.

 

Choosing The Right Realtor for the job

9- This should probably be #1 on the list. Working with an Orlando Listing Specialist will get your home sold up to 40% faster than with a new agent.

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10 Best Tips To Sell Your Orlando Home

Posted on by Jenny Zamora

 Sell Your Orlando Home For Top Dollar

If you need to sell your Orlando home for top dollar, then showing your home to buyers is unavoidable. So it’s important to make a good first impression on interested buyers. Here are some tips that I recommend you follow when showing your house to a potential buyer.

 1- Make Them Feel Welcome

As an Orlando real estate agent, I prefer to show houses without the sellers being there, but many times the homeowner insists on being present when other people walk through their home which is completely understandable. If it were me, I’d probably be the same way.

If you want to be there during showings, you should politely greet the potential buyers and invite them to look around. Tell them to take their time and let them know that you’d be happy to answer any questions they may have. Don’t follow them around as they walk through your house! Your presence may make them uncomfortable and restricted. Let the agent give them the 10-cent tour while going read on the patio or walk the dog. This will allow the buyers to communicate freely with their agents and voice any concerns.

 2- Be Flexible With Showings

Bending over backward to make your home available to show at any time will be advantageous to you. Most home buyers are on tight schedules because of work or other commitments. Sometimes I get out-of-state clients that only fly in for a day or two to see houses before flying back so try to be as flexible as possible about scheduling showings. If you still live in the home it’s very important that you be ready for a showing at a few moments’ notice. Some people can only see houses in the evening time and especially on weekends. Being as flexible as possible with showings will give you more opportunities for the right buyer to walk through that door and make an offer.

 3-Room Temperature

Make sure that when a potential buyer walks through that door, they feel comfortable. They don’t want to be cold during winter or hot in the summertime. If they’re not comfortable, they may not spend enough time in your home to decide if it’s an option for them or not. The last thing you want is for a buyer to rush through a showing because they can’t wait to leave.

 4- Keep It Clean

If you’re still living in the home, you should try to keep it showing ready at all times so that you’re never caught off guard. Make sure all clutter is cleaned up, run the vacuum whenever needed, and keep the kitchen and bathrooms spotless at all times. A clean and de-cluttered home appears larger as opposed to a dirty and cluttered home can appear small and uncomfortable. Having scented candles around the house is always a good idea and if you really want to make a good impression, you can bake some cookies and have them on the table. This entices the senses and they will also know that the oven works. lol!

 5-Not Everyone’s An Animal Lover

If you have a pet or pets, the best thing to do is temporarily remove them from your home or at the very least, put them in their crate. Not everyone is an animal lover and you don’t want a nervous animal distracting the buyers or making them uneasy. This will allow buyers to tour the home without any distractions. You should also remove any animal toys, dog bowls, etc.

 6-Let There Be Light

Your home should be well lit regardless of it’s day or night. When we live in a home, we develop habits of only turning on certain lights. The best thing to do is turn on all the lights during a showing. Most potential buyers won’t be drawn to a dimly lit home.

 7-Provide Documents About The Home

If you’ve recently had the AC or the roof replaced, have the warranty paperwork on the table. Did you have it appraised recently? Have that on the table as well. As a matter of fact, you should have any important paperwork regarding your home in plain view. This will make them believe that you have nothing to hide and that you are organized as is your home.

 8- Talk To Your Orlando Realtor

There are always certain things about a home or neighborhood that are not always in plain view. Educate your Orlando listing agent on things that you may want to be pointed out during showings. For example, having great neighbors is always a plus, but a potential buyer won’t know this by just walking through your house. If you have wonderful neighbors and your neighborhood is very family oriented, let them know.
9- Good Curb Appeal

The first thing a buyer will see when the drive up is the outside of your home and it’s your job as the seller to make sure your home looks as good as it can. The goal is for a potential buyer to be eager to see the inside because of how the outside looks. Make sure the lawn and shrubs are always perfectly trimmed and any flower beds are free of weeds. You’d be surprised how a little clean-up and some brightly colored flowers can enhance your curb appeal.

 10-Get Feedback
If you really want to know what they think, then place some comment cards in the home where buyers can openly leave their feedback about your home. The information they provide may help you for the next showing. Either that or it will piss you off [lol!]. If you’re the kind of person that doesn’t like criticism, you may want to skip this step.

If you need to sell your Orlando home and want more tips on how to get your house “showing ready” contact us at 407-902-7750. We’re here to help!

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Finding That Perfect Orlando Neighborhood

Posted on by Jenny Zamora

Choosing an Orlando neighborhood to plant your roots and live out the rest of your life is a huge deal!  Choosing the actual home in which you want to live is equally important. This will be the place where you and your family will create memories for many years to come.

Homebuyers need to consider many things before when deciding on which home to buy; like becoming part of a new community, so you need to make sure it’s a good fit. So how do you know if the neighborhood’s a good fit for you and your family?

Here’s a 5 step list to help you decide what Orlando neighborhood is right for you.

1- Make your wishlist:

Make a list of the things that would make your ideal neighborhood and put the most important items on the list at the top and things you could live without towards the bottom. Things like the commute to work and good schools always seem to rank highly for most people.

Having a list of what you don’t want is also helpful like; being too close to a highway or living across the street from Walmart.

2- Online Research:

Like everything else these days, start your research online. Take the list that you just made and Google it! Start by typing in things that are on top of the list and work your way down, “Orlando Neighborhoods with the best Elementary schools” or “Orlando best neighborhoods for pets”, you get the picture. Once you get a feel for the neighborhoods that interest you, you can use our Florida home search tool to see a list of homes are for sale in the area just like a licensed realtor.

3- Time To Visit in Person!

So you’ve done as much research as any one person can do on a computer, now it’s time to check out the area in person. Check out the local schools, supermarkets, and restaurants, and drive around the surrounding neighborhoods at different times of the day. Talking with some local residents will also be helpful.

Are there enough parks? Is there a park for your dog? Is the homeowners association controlled by robots? Can you see yourself living here for the next five, or ten years!!?

All of these are valid questions that you should be asking yourself.

4-What’s the local crime rate?

Ok so you like the neighborhood that’s good but we’re not done yet. It’s time to find out about the local criminal activity, especially if you have children. Visit sites like https://www.crimereports.com/ which offer really cool interactive maps where you can view crime data in real-time. Concerned about sex offenders? You should be, visit http://www.familywatchdog.us/ to get a list of registered sex offenders in the area.

You can even take things a step further by visiting the local police dept. and having a chat with one of the boys in blue.

5-Check local school ratings:

Whether you have kids or not, you need to research schools. It’s a known fact that school districts are usually the biggest beneficiaries of property taxes. In addition, schools that are highly sought after will typically raise the value of the surrounding homes. Check sites like greatschools.org/is a great tool for finding the best-rated schools in the area.

Finding that perfect home goes much deeper than what’s between the walls of the house itself. Take the time to do your research to make sure that the neighborhood you choose would meet all or needs, or at least most of them.

If you need help finding your perfect Orlando neighborhood, I’m happy to help. Call 407-902-7750 or visit https://orlandorealtyconsultants.com/

 

 

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