Tag: Realtors Orlando

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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8 Factors That Increase Your Orlando Home Value

Posted on by Jenny Zamora

 

Are you looking to buy an Orlando home and make a smart investment at the same time? Be aware of these important factors as identified by Realtor.com by analyzing millions of home sales throughout the country.

Having Fewer Bedrooms- As an Orlando realtor, I was surprised when I first read about this. Homes with 1 bedroom experienced an increase in appreciation of over 7% since 2012. Homes with 2 bedrooms have increased by 6.6%, 3 bedroom homes 6.3%, and 4 bedrooms was down to 4.9%. This just goes to show how popular down sizing has become in our country.

Bigger is not always better- especially when it comes to Orlando real estate. past 5 years have been a strong indicator that smaller homes  are more popular than ever among baby boomers as well as first time home buyers. Statistics show that homes smaller than 1,200 square feet have gone up by an average of 7.5% each year and larger homes [ over 2,400 sq ft] have only seen a 3.8% increase.

Open floor layout- These days everyone loves an open floor plan and so the more sought after something becomes, the value it will have. Homes in Orlando with an open floor plan appreciate an average of a whopping 7.4% per year. You can sometimes change your floor plan depending on if the walls you have to remove are load bearing or not. Upgrades such as granite counter tops and stainless appliances only experienced a 2-3% appreciation.

Having a view- Homes with a nice view across the country have increased between 4.9% – 7.9% over the past several years. If your fortunate enough to buy a home with a pretty view, you can always expect to enjoy a bit more appreciation on your home than your neighbor without one.

Modern design- With the exception of a small percentage of buyers who prefer older homes, newer more modern styled homes will always be more desirable for the majority of buyers. As a matter of fact, newer homes with modern designs have been rising an average of 7.7% per year. Bungalows are 2nd at 6.5%, traditional 5.6%, ranch homes 4.5% craftsman 3.7% and victorian at 2.2%.

Homes with 2 car garages-  Orlando homes that have space for 2 vehicles have had an increase of 6.4% per year Vs homes with a one car garage at 6% increase. And believe it or not homes with 3 car garages only saw an increase of 3.8% annually.

Being in the city- This was another one that surprised me a bit, but I guess I’m a little bias. Homes that were in or close to the city near mass transportation had an increase of a whopping 8.4% in value where as homes in the suburbs in good school districts and shopping areas only increased by 7.2%.

 

 

 

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Buying New Construction? Why Use A Realtor?

Posted on by Jenny Zamora

Should You Use A Real Estate Agent To Buy New Construction In Central Florida?

When looking for a home to buy, you must first decide if you want to buy an existing home or buy a new one. If you decide on buying new construction, you can then decide if you want to use a realtor to help you on this venture.

Here in Florida, there is no rule that requires someone to involve a real estate agent when buying a home whether it’s new or resale.

However, If you look at the pros and cons of using a realtor when buying, the pros will ALWAYS outweigh the cons. Developers can be tough negotiators and try bullying tactics on you so it’s nice to have someone in your corner to make sure you’re getting the best deal.

Here’s a list of some of the top reasons why using a real estate agent can save you time, money, and a whole lot of aggravation when buying a new construction property.

Representation

There’s a common misconception that when you work directly with the developer’s rep, you can save a lot of money. This is absolutely false. Think about it for a minute… Do you think that the builders representative is looking out for your best interest or their employer’s best interest? it’s common sense… the rep is going to try and work the best deal they can to benefit the builder…not the buyer!

Not having representation in any real estate transaction whether it’s new construction or not is just a bad idea all around.

An experienced realtor knows how to ask the right questions. Having a buyer’s agent to buy an existing home is extremely important but having an agent with experience in new construction is absolutely critical…

Here are a few questions you can ask a real estate agent to make sure they are experienced with new construction homes.

  • How many new construction homes have you sold recently?
  • Do have a list of lenders that specialize in new construction loans?
  • Why should I hire YOU to buy a new construction home?

Negotiation Skills

Having an experienced buyer’s agent on your team can help you avoid getting ripped off when buying new construction. Buying any new construction home can get expensive real fast. Builders will typically advertise their “Plain Jane” model with no upgrades so that they can mention their cheapest price on a home.

The nice thing about buying a brand new home is the capability to make it your own. However, the more you customize and upgrade it, the more expensive it becomes. Another good reason to hire a Realtor when buying a new construction home is their ability to negotiate for you. Most of the time builders have a list of prices for changes to the floor plans, upgrades, lot sizes, etc.

Contingencies and Inspections

There are many reasons why it’s important to have an existing home inspected, but it’s also to have a new home inspected…, Yes, even if it’s a brand spanking new!

If your Realtor has experience with new construction, they will know exactly what inspections to recommend to you. Builders are humans and humans make mistakes so you have to make sure that your brand new home was built properly. The only to do that with a new home is to have a thorough inspection[s] performed by a credible home inspector.

Could you imagine moving into your brand new home and immediately starting having problems? It can turn what should be a pleasurable experience into a complete nightmare!… This is just 1 example of a contingency on a real estate contract that a realtor would suggest to you.

Professional Recommendations on Upgrades

Buyers are generally given an allowance for items like cabinetry, floor coverings, countertops, fixtures, etc. Experienced Realtors will be able to guide you on what upgrades will actually increase the value as well as what today’s buyers typically look for in a home and why. The last thing you want to do as a new home buyer spends a lot of money on upgrades that won’t give you a return on your investment, especially when it comes time to sell the home.

Most buyers expect to live in their house forever, but the fact is that eventually you will either move…or die.
Assist In Finding A Lender & Financing Options

Your Buyers agent should be able to provide you with a shortlist of quality lenders that specialize in new construction loans. This type of financing is much different than obtaining a mortgage for an existing home. To start, not all lenders finance new construction. It is recommended that when buying a new home, you should try and use a local institution if possible.

Probably the biggest difference between traditional financing for an existing home and for a new construction build is the payment schedule. The lender makes periodic payments to the developer as the project progresses, also known as “draws”. Upon completion of the new home, the buyer will then get a new mortgage to pay off the construction loan.

As you can see, there are a lot of good reasons for hiring a realtor when buying new construction. Having strong representation when entering into a new home purchase is crucial to ensure that you get the best deal.

Still, have questions about buying a new construction home in Central FL? Visit us here https://orlandorealtyconsultants.com or call 407-902-7750 for immediate assistance.

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Short Sales In Orlando Still Rank Near The Top In U.S.

Posted on by Jenny Zamora

Although short sales in Orlando have dwindled in recent years, Central Florida still ranks as one of the top regions in the US having the most short sale listings.

Ironically, “short sales” can take a very long time to complete. These are homes in which the bank is willing to entertain a lower amount than what’s owed on the mortgage, in order to recoup most of their money.

More than 1 in every ten homes that were sold in the Orlando area in the last quarter of 2016 area was a short sale listing. The only other areas that had a higher short sale rate in the state of Florida were Fort Myers and Lakeland.

When short sales first became popular after the market crash of 2007, banks were willing to accept a much bigger loss than is the case today. This meant that investors and rehabbers like me were enjoying much larger profits than is the case with short sales today.

These days banks want as close to full market value as they can get. Many times these listings only make sense if you plan on moving into the house and making repairs yourself.

As an Orlando real estate investor, I make several offers on short sale listings every week most of which get denied for being too low. When buying a property as an investment home to resale you have to consider all the costs involved like repairs, closing costs, marketing, staging, etc. After doing the math, I can tell you that most short sale listings right now in Orlando are way… way overpriced for investors to make any money on them.

Certified distressed Property Expert

Banks are realizing that if they just let the home go to foreclosure, they can sell it for closer to market value instead of accepting a low-ball offer from an investor. Orlando short sales are ending up being auctioned off online auction these days more than ever. This strategy also allows these lenders to expose their property to anyone in the world with a computer.

Orlando’s continued distinction for short sales is a clear indication of how depressed this area’s housing market was just a few short years ago. At that time, there were more Orlando short sales and foreclosures than there were traditional sales. It has taken several years to push these distressed Orlando properties out of the pipeline.

Now that market conditions have been steadily improving, more homeowners are able to sell their homes at a profit. And for homeowners that are a bit underwater are starting to see the light at the end of the tunnel that will allow them to hang in there instead of having to come up with the difference at the closing.

For homeowners that are deeply underwater that are still at risk of losing their home to foreclosure, a short sale is still their preferred alternative because it does a lot less damage to the homeowner’s credit. They can also walk away with less debt and even come away with a few thousand bucks in their pocket for relocation costs.

I can tell you from experience as an Orlando Realtor and investor that short sales are no longer the deals they once were. Banks are being harder negotiators than ever and if they don’t get their number, they have no problem foreclosing.

Buyers who want to use the home as their primary residence and are willing to pay close to market value can still get a slight discount buying an Orlando short sale. However, for most retail buyers when they hear the word “short sale”, they usually pass because they know that short sale lenders can take a long time to respond and there’s never a guarantee that they will accept your offer.

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Orlando Short Sale Listing in 32835

Posted on by Jenny Zamora

New Short Sale In Orlando | Investment Property Orlando | Buy A House in Orlando | 408 N BUENA VISTA AVE ORLANDO, 32835

This is a great investment opportunity, needs some attention but it will make a Great Home for a Flip or rental.

 

Big lot and lots of living space. Stop by and take a look. It will not last, It is Priced to Sell! SUBMIT YOUR HIGHEST AND BEST

407-902-7750

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