I've been doing short sales in Orlando since 2005 and something happened last week that has never happened to me before. I've been working on this Orlando shorts sale listing for the past 3 months. After negotiating with the bank we got the payoff approved at $192,000.00 and the buyers [...]
When the real estate market crashed, many people were left owing a lot more on their house than it was actually worth. Some also lost their jobs. It didn't matter what income bracket they were in, the crash affected upper, middle and lower income families alike.
In other words, you’re not [...]
Savvy Orlando real estate investors are beating first time home buyers to the punch
1st time home buyers looking for their " dream home" are no competition for the seasoned Orlando real estate investor. People looking for their 1st house to move into with their families are finding themselves being[...]
Don't be afraid to ask your Orlando realtor questions about your short sale
So you've decided to pursue a short sale on your home either because it owes more than what it's worth and and just want to get out from under it or because you've fallen behind on your mortgage payments. You're next [...]
Banks are getting much faster at the Orlando short sale process
Short sales have had a bad reputation in the Orlando real estate market for several years now. Realtors didn't want to take on short sale properties either because they didn't know what was involved and were afraid of getting in over [...]
A "charge off" is not the same as debt forgiveness
In the world of Orlando real estate when you hear the words "charge off" coming from your lender, it basically means that they are throwing there hands up and giving up on collecting that particular debt, the debt that's being charged off also [...]
What will happen to Orlando short sales if the Mortgage debt relief Act of 2007 is not extended?
Short sales have been very popular since the market crashed in 2007, mainly because sellers have the benefit of not being taxed for the deficiency between the mortgage amount and the actual [...]
Buyers are realizing that they have to Pay the Price if they want a quality Orlando Property
Orlando Homebuyers have had the upper hand since 2006, but today's reality tells quite a different story, sellers are back in the drivers seat. Prices of Orlando Realty have been rising steadily much [...]
When you examine the current Orlando real estate market a few things are undeniable. The most important fact, there has been a huge decline in Orlando home prices since 2006. Secondly, the foreclosure inventory is still incredibly large. The third factor is that interest rates remain low.
Will 2012 be the Year of the Orlando Short Sale?
Since mid-2006, residential values in Florida have declined by 51 percent. Hundreds of thousands of properties have been, or are, in foreclosure and huge numbers of homes have been repossessed. Check out these numbers for the state of Florida.