Tag: realtors in Orlando

Realtors In Orlando Ask: Sellers Where Are You?

Posted on by Jenny Zamora

If you’ve been keeping track of the Orlando Real Estate market lately you’re probably aware that housing recovery is in full swing. Lenders are advertising aggressively and new housing developments have been popping up all over Central FL. Mortgage companies are offering qualified buyers loans as low as 3%.

“Where are the sellers?” Realtors in Orlando ask.  Inventory continues to drop at an alarming rate and the homes that do hit the market are flying off the shelves. I feel bad for buyers’ agents because even if you have 100 buyers ready to go, you’re in trouble if there’s nothing to show them. From our own experience, the Orlando homes that do become available are usually under contract within the first week of being on the MLS.

For home buyers looking for their dream home, it can be challenging to say the least. And even if they do find what they’re looking for, they’re sure to encounter some heavy competition. As a matter of fact, competition is such that the days of taking a week to decide if you want to make an offer on it are long gone.

It appears that consumers are buying off the top and as soon as a house hits the market, it’s sold. Lately, when we show houses to potential buyers in certain neighborhoods, we bring a contract ready to go at the initial showing just to try and get an edge on the competition.

 Hang In There Buyers!

In our experience as Orlando Realtors, seller activity historically picks up during the spring season. This should give buyers a spark of hope in finding the perfect home. Many Orlando real estate agents that have been targeting buyers are now starting to hunt for sellers to try and help boost the inventory.

Tips On Making Your Offer Stand Above The Competition

  • Don’t send a low ball offer thinking that the seller will counter. With Orlando homes getting multiple offers low ball offers will be the first ones out. Submit a strong and fair offer right off the bat. This will ensure that your offer will stay on the table.
  • Have your financing ready to go. By being prepared with a pre-approval letter from your lender, you will be ahead of the game and your offer will be taken more seriously by the seller.
  • Add a personal touch. If this is truly the house for you, write a letter to the seller explaining why you want to live in the house so badly. For some sellers, it really does make a difference knowing that the person buying their home will love and enjoy it as much as they did. And if you have kids, talk about them also. If not, then get a puppy… lol!
  • Put down a larger deposit. Giving the sellers a larger deposit than they are asking for, it will show that you are truly committed to making the deal happen.

Many realtors in Orlando remain optimistic about the upcoming spring and summer seasons even though the supply and demand are soo out-of-whack right now.

If you or someone you know is considering selling right now or if you just want to find out how much your house is worth, please give me a call at 407-902-7750.   

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TOR 004: Can The Bank Take My Assets After Foreclosure?

Posted on by Jenny Zamora

Top Orlando Realtors Podcast Episode:004

Hello and Welcome to the show If, you’ve been here before, we are happy to have you back.
Anyone can submit a question or suggest a topic for the show, just go to https://orlandorealtyconsultants.com/blog/ and fill out the contact form.


I’m your host John Conde / Orlando Realtor and I hope everyone is still hanging in there with their New Year’s resolutions. I heard somewhere that most people don’t make it through January without breaking that resolution so if you’re still in the game then you’re doing better than most, so keep it up!


We currently have a client in the Dr. Phillips area that has a pretty unique situation going on.
His name is Dave and he is allowing me to talk about his case on the show as long as I don’t mention his last name. So Thank you for that Dave.


To make a long story short, Dave had a great job, got laid off, fell behind on his payments, and is now facing Orlando foreclosure. Dave wants to know if the bank can come after his other assets after the foreclosure sale of his house.

He doesn’t have much money in the bank, so he’s not worried about that. What he does have, is every toy that a man could want.  He has a ski boat, motorcycles, cars, RV, you name it..he’s got it, and everything is paid for.


Now, the best thing to do is stop Orlando foreclosure before it starts. Dave waited longer than he should have and only decided to take action after the lender had set a foreclosure date.
The sooner you take action, the better chance you have of stopping that foreclosure.


Unfortunately, in this case, foreclosure was imminent. And being that he has well over $100,000 in assets, he has a legitimate concern because these assets or objects, are all he has left and he needs to sell them so that he could have some money to live.


Unfortunately, here in Florida, the lender can absolutely come after your other assets.
This usually happens when the bank takes a huge loss at the auction, especially if it’s a large loan.
And unsecured assets aren’t the only thing that people need to worry about, lenders can also garnish your salary and personal bank accounts.

You see, problems that can occur from a foreclosure sale don’t happen until after the sale has gone through. Here in Florida, lenders can solicit the court for a “deficiency judgment” so they can try and collect the rest of the money that’s owed to them. Once they have a deficiency judgment in their possession, banks can go after any of your personal assets like a car or a boat.

The good news is that Florida lenders don’t usually go after someone’s assets following a foreclosure sale. Especially if they don’t see much to tap into. Collecting judgments takes a lot of time and can cost the bank a lot of money.


Banks tend to pay more attention to jumbo loans because the larger the loan the bigger the loss.
In these cases, the lenders will dig deeper checking your bank accounts…. especially if the accounts are with the same bank as the mortgage.  And Depending on the situation, banks can try to freeze or garnish these accounts.

There is another risk for smaller loan holders that can also occur. Most of the time, banks end up selling off these smaller judgments to investors or collection agencies for pennies on the dollar.
These agencies then dedicate themselves to hounding people any way they can for a settlement on the money that’s owed. And,..since judgments are valid for up to twenty years, it gives them more than enough time to come after the borrower for the balance due.

The best way to avoid any of these things is for people to deal with their mortgage problems head-on. In Dave’s case, he waited too long to take action and he’s now out of options. If you know that you’re gonna fall behind on your mortgage, take action.


If you want out, do a short sale! If you want to keep your house, try a loan modification or bankruptcy. Burying your head in the sand and ignoring the problem is the absolute worst thing that you can do. You give up all your control to the bank. and It’s like having a financial ticking time bomb on your hands.


So remember, if you’re behind on your loan, take action! That’s it for today, please keep those questions coming so we can talk about it on the show.   See you next time!

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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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2015 Tips For De-Cluttering Your Orlando Home

Posted on by Jenny Zamora

With the introduction of the new year, resolutions are in full swing. It’s also the best time of the year to do a massive cleaning and de-cluttering of your Orlando home. For our family, the means to donate old toys, outdated furniture, and other objects so that we can utilize the extra space in each room. It’s actually something that I really enjoy doing because it gives me that sense of a new beginning. I don’t know what you’d call the opposite of a hoarder, but that’s me [out with the old, in with the new!].

For some people, however, this can be a painful process. Just the idea of cleaning out those daunting cabinets, closets, and drawers can make them want to run for the hills.

6 Step Guide To De-Cluttering Your Orlando House With No Stress

  1. Don’t Try to Do it All at Once! This will make the task seem overwhelming and impossible. Pick the room that’s the most cluttered in the house and start de-cluttering, one room at a time. I like to start with the biggest items and work my way down to the small stuff. You can put the things you want to keep in a storage facility or your garage and donate everything else. You will see that once you get started it’s kind of hard to stop (It is for me anyway). The more you get rid of, the better you feel.
  2. Decide What Stays and What Goes. When moving the things back into the room after cleaning, it’s a great time for you to ask yourself; does it stay or is it history? Bring the items back into the space one at a time.
  3. Get Organized! When clearing everything output similar items together in a box. This will allow you to take inventory and get rid of unnecessary duplicate items scattered throughout the house.
  4. Stay Organized! When you’re to start putting things away, make sure that you place things in a location that makes sense. For items that you use day-to-day, put them in a location that’s easy to access. For other items that may not get used that often, maybe a high cabinet space or in the closet. Having a specific place for the items you wish to keep will prevent things from ending up all over the house again.
  5. Don’t Procrastinate! Once you’ve figured out what gets thrown away and what gets donated then either throw it away or take it to the donation box immediately. Don’t put it off, the sooner you get that stuff out of your house and clear from your mind the better off you’ll be and you’ll have a better of preventing clutter from returning
  6. Clutter Prevention. It’s a good idea to not purchase items unless you need them. If you’re like my wife, then you love a good bargain and sometimes it’s hard to resist getting a good deal on something,…even if you don’t need it! Take a moment to think about where you will put it in your home, will you really use it? Where will you store it? I the answers don’t make sense, don’t make the purchase.

The key to keeping you’re home de-cluttered is to keep things organized by creating a system that enables you to keep your home free from clutter every day. Once you’ve committed yourself to be clutter-free, you’ll feel better and actually be healthier. If your home is free of clutter, then your mind will be able to focus with less effort for maximum production.

Working as an Orlando listing specialist, I’m always giving my clients tips and advice for staging the home before listing it. The first thing on my list of recommendations is always to clean and de-clutter the home. Doing this step alone will make a huge difference in the way the house shows and together with my other staging recommendations will ultimately attract more buyers and a higher selling price. If you need help or advice on helping you to sell your Orlando house, call me today! I’m happy to help.

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TOR 003: How Does The Bank Decide The Value Of A Short Sale?

Posted on by Jenny Zamora

Top Orlando Realtors Podcast Episode:003

Diego Fontana in the BVL area of Kissimmee asks…”How do they decide the value of a Short Sale property“? The valuation of a property, in my opinion, is the single most important factor in the whole short sale process.


Here’s the way it works. We start by submitting an offer to the bank, the bank will then order what’s called a BPO on the house AKA a broker’s price opinion. In some cases, the bank orders a full-on appraisal, but most of the time it’s going to be a BPO
The person that does the BPO is usually a local realtor hired by an agency that’s been hired by the bank.


So the realtor goes out to the property, takes some pictures, and does some research. then based on things like
• recent sales in the area
• repairs that the home needs
• and even upgrades that the house may have

marketing


They take all these things into account to create the BPO report. So this is the realtor’s opinion of what the property’s worth.


Whatever, the BPO comes in at will be the negotiating point between the lender and potential buyer.
The BPO happens…
Now At this point, there are 3 things that can happen that will dictate what follows.
The BPO comes in at a fair valuation, everyone’s happy, and we proceed to close.
or…
The BPO comes in really low, so low in fact.. that the bank insists on another one being done… and although it doesn’t happen too often, it can and does happen on occasion.
or…
The BPO comes in super high and the buyer threatens to walk.


When this happens, the Orlando listing agent has to Do whatever it takes to get the bank to order a second BPO. We do this by making a report of our own… called a CMA or comparative market analysis
This report has even more information than a BPO does.


The sole purpose behind sending them a CMA is to get the bank to order another BPO or if we’re lucky they’ll just use our report.
In the end, after all the dust settles, the lenders are the ones that decide how much they are willing to accept for the property.


So Diego, there you have it. I hope that answers your question.


That’s our show for this week, join us next week for the 3rd episode in our short sale series.

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