Investment and Vacation Real Estate - Orlando, Florida

When you decide to sell your Orlando home, you hope to close the sale within a certain amount of time. This is especially true if you're relocating or need to sell your home before buying another one.

Sometimes it takes longer to sell your home than you planned. When that happens, one option you have is renting your Orlando home.

Renting your home is a way to generate cash flow while you wait for your home to sell. It can help you cover your mortgage costs and avoid foreclosure. You also still have a chance to sell your home for a profit when the market recovers or you find a qualified buyer.

• If you choose to rent your home, you should plan to rent it for at least one year. Most renters prefer the security of a lease. You do have the option of including a clause in the lease about the home being for sale. In this case, see a real estate attorney so the lease is clear and protects you.
• You need to know the rental laws in your area. There may be restrictions about how many people can live in a single family home and how to evict renters who do not pay. Many renters know how the laws protect them, and you don’t want to end up in court over something you could have prevented.
• Set aside money for repairs. You will have to make sure your home is suitable for renters to move in. If anything major, like the air conditioner or refrigerator, breaks, you are responsible for repairing it or purchasing a new one. After your renters move out, you will also have to do repairs to the home.

Let us help you sell your home and protect your investment. Call us today at 407-876-5771 for more information about renting your Orlando home while you wait for it to sell.

Many potential homeowners are starting to look towards Orlando foreclosures as a way to get the home of their dreams without spending their life savings. What they may not realize is that the sheer amount of foreclosed properties can be daunting. Some are so completely overwhelmed by the choices that they give up and walk away.

Orlando foreclosures can be great deals, but you’ll have a few decisions to make before you even go looking. Because there are so many options, here and throughout the nation, it’s important to figure out what type of foreclosed home is best for you.

Government Foreclosures

Homes with federally sponsored loans, such as HUD homes, are repossessed by government housing agencies. Because these homes offer a lot of opportunities for discount purchases, they move quickly.

Foreclosure Auctions

One of the most common ways to buy a foreclosure is while it’s on the chopping block of a traditional real estate auction. The auction is public, with homes sold to the highest bidder.

REO Foreclosures

Repossessed by the bank, real estate owned properties have been through a foreclosure auction without being bought. There’s not necessarily anything wrong with the home itself. In fact, many foreclosure auctions fail to sell the home. The primary reason foreclosure auctions do not succeed is that the auction price is more than what the property is worth. When the auction does fail, ownership reverts to the bank and the home becomes an REO.

REO foreclosures also have auctions, but the bidding process is closed and blind – no haggling allowed. You look over the available properties and come up with an offer to buy the home directly from the bank, rather than competing with other buyers in a public sale.

The good thing with REO foreclosures is that you can also set up the financing and mortgaging options through the same bank. Often, this gives the bank encouragement to give you a better price for the home.

Whether you’re looking at Orlando foreclosures for investment opportunities, or to buy your dream home, you have a myriad of options. Knowing what you want - before you start looking - is one of the best ways to ensure you get the deal of a lifetime!

If you’re unsure which type of foreclosed home is best for you, or if you want help finding a great deal on a foreclosure, we can help. Call us at 407-876-5771 for more information.

Modern technology is a wonderful thing, creating easy “connectivity” between people all over the nation. But it’s also causing problems in many areas, and buying Orlando real estate is one of them.

Here’s the problem: Many people selling Orlando real estate may live in another city or state. In this case, negotiations may be conducted over the phone, through email, via Yahoo conversations – some even use Twitter for real estate deals and information.

At the same time, this also means that legal documents may be passed through email, uploaded to a website for easy viewing or through any number of other online methods. PDF documents, for instance, have become a very popular way to pass on legal forms because they’re easy to fill out, don’t have to printed, etc.

As the buyer, you can’t afford to take the seller’s word that they’ve accepted your position – especially through email. For instance, a buyer recently had a home sale fall through. The seller accepted the terms through email, told the buyer that the seller had signed the contract and sent it on to the agent. Somehow, even though the buyer was positive the contract had been agreed upon, the house was sold to another buyer.

Although laws change from state to state, it’s always best to have the contract in printed form, with an actual signature – in ink. Without the actual contract, all you have is an email. Although emails can be legally binding, they don’t hold a candle to having the printed and signed contract in hand.

Here are a few tips to make sure your housing purchase goes off without a hitch:

• Meet in person – This may be a difficult prospect, especially if the seller lives out of state. However, if you can’t meet them in person, their agent should at least be local. Meeting with the home seller’s legal representative (i.e. Real estate agent) is the next best thing.
  
• Get it in writing, and get it in print – Who wants to wait for the post office to deliver a paper contract when you can get it from an email? Well… you do. Yes, it might slow the process of buying a house and closing the deal, but so will having the seller back out.
  
• Verify the important points – Make sure you and the seller really do agree on the terms of the contract before you put your signature on it. You, or preferably your buyer's agent, should go over the contract with the seller’s agent who should go over it with the seller.

It’s a great time to buy Orlando real estate, but don’t let technology lose you the contract. Cross your t’s and dot your i’s – on paper!

If you’re looking to buy a home, I'll make sure all those t's are crossed and i's are dotted for you. Call us at 407-876-5771 for more information.

As a real estate agent for Orlando homes for sale, part of our job is keeping up with current real estate news. Most of the time, I’m largely unsurprised by the news that comes across my desk, but this little tidbit blew me away.

For two years now, we’ve seen mass foreclosures, people walking away from their underwater mortgages and warnings that there’s more to come. Foreclosure numbers reached all time highs, housing prices have reached all time lows and half the country is unemployed. It’s enough to make a homeowner with one of the Orlando homes for sale have a mental breakdown.

However, in February, the news went out, flooring most in the real estate industry: severe shortage of property predicted by the middle of 2011. This may sound unbelievable. (It was a hard one for me to swallow.) But, the construction industry has also been hard hit by the economic downturn, which means that fewer homes are being built. Combine fewer homes being built with population expansion and suddenly there’s a housing shortage.

Good News for Homeowners

In a recession, people have a tendency to live together because it’s cheaper. College students continue to live with their parents, divorce rates go down and more people share homes. However, we currently have over 300 million people living in the U.S. and we’re down to less than seven months’ inventory.

This is great news for homeowners trying to sell their homes – or even homeowners who just need more equity - although the repercussions may take awhile to spread.

In several high population areas and college towns, the demand for housing is on the rise. As we’ve talked about before, this brings in the age-old laws of supply and demand. The lower the supply and the higher the demand, the higher prices rise. The more value a home has in price, the higher the equity.

So, for those who have Orlando homes for sale, take heart! A housing shortage may be hard to believe right now, but, if what the economists say is true, it’s on its way. Stay on your toes, make sure all your ducks are in a row and prepare for the rush on home sales.

If you’re trying to sell your home, or are looking for a great home to buy, we can help. Call us at 407-876-5771 for more information.

While Orlando's customer-satisfaction ratings are up, its ranking among the 19 airports with at least 30 million passengers a year is lower than the last time J.D. Power and Associates conducted an airport survey.

Orlando International Airport is the fourth-best major airport in North America in terms of customer satisfaction, according to J.D. Power and Associates.

While Orlando's customer-satisfaction ratings are up, its ranking among the 19 airports with at least 30 million passengers a year is lower than the last time the market-research firm conducted an airport survey.

Orlando slipped from a tie for second place in 2008 because several other airports improved even more.

Stuart Greif, vice president and general manager for J.D. Power's Global Travel and Hospitality Group, said Orlando International customers expressed increased satisfaction with the airport's accessibility, appearance, baggage claim and food-and-retail services — but less satisfaction with security and baggage check-in operations.

OIA, the 12^th-busiest U.S. airport, could see improved ratings next time: Later this year, it will finish installing in-line baggage-screening systems, making check-in a lot easier for travelers.

The top major airport in North America? Detroit Metropolitan Wayne County, which saw dramatic improvement after opening a new terminal. It moved up from 12th in the survey released in 2008. Conversely, the top-rated airport in 2008, Philadelphia, fell to 16th this time.

The survey rated the top six airports very closely — within 8 points of each other in J.D. Power's satisfaction scoring system. Detroit scored 705 points; Denver and Minneapolis-St. Paul each got 701; Orlando 700; Phoenix 699, and Charlotte, 697 points. complete story

Miami International Airport ranked 17th in the new survey.

Source: Orlando Sentinel - Scott Powers

Orlando Vacation Homes  -  Orlando Investment Property

Because buying Orlando vacation real estate is one of the most important and expensive purchases you’ll ever make, it's worth the time to consider ways you can save money. Here are a few ideas on how to save money on your mortgage and closing costs:

Pay Attention

You have to pay attention to how much the Orlando vacation real estate costs. You have to pay attention to how much the house is worth and how much more you may have to put in the kitty for any repairs that may need to be done. Use these details to negotiate.

Negotiate with the Seller

Negotiating with the seller is expected. You already know you can negotiate on the price of the home, but did you know you can also negotiate who pays the closing costs? In this buyer's market, it has become common to ask the seller to pay some or all of the closing costs when you purchase a home. Be careful with your negotiations. Many sellers will up the price of the home, if you ask for them to pay closing costs.

Negotiate with your Lender

Negotiating with your lender has become the new norm. In fact, depending on the lender’s Good Faith Estimate and your credit standing, negotiating for a better deal on your mortgage could save you thousands in the long run.

Examine the Good Faith Estimate

A Good Faith Estimate is the estimated settlement costs, or closing costs, your lender will expect you to pay. These can add up to as little as 3% and as much as 5% of the sales price. However, as the name implies, it is only an estimate, and prices are subject to change.

Carefully read your Good Faith Estimate. While some closing costs are usual, such as title insurance, others can be dropped by opting out of a service. Still others are “junk fees,” which you can negotiate for.

When buying Orlando vacation real estate, you always want the best deal you can get. The same should be said when picking a mortgage lender. Pay attention to the good faith estimate. In fact, get one from several lenders and compare them. Don’t let the excitement of buying a home override your good business sense.

Consider Rolling Closing Costs into your Loan

Many new homeowners roll their closing costs into the loan. However, if there’s a way to pay them at closing, it might be better to do so. Paying them now saves you money because spreading them throughout the life of the loan means shelling out more interest.

If you’re looking for a great deal on an even better home, let us negotiate for you. Call us at 407-876-5771 for more information.

How to Take Great Photos of Your Orlando vacation Home

Pictures are one of the most important parts of your home’s marketing plan. They are usually the first thing potential buyers see and can be a deciding factor in whether or not they actually walk through your home. Here are some photo tips for taking the best possible pictures of your Orlando vacation home:

• Choose the right time of day. Lighting is the single most important factor in taking a good picture. Shoot on a bright, sunny day. Use natural light, when possible, inside your home. If your Orlando vacation home has a beautiful view of the sunrise or sunset, take a photo of the view during that time.
• Prepare your home. Make sure your home is clean and the yard is free of debris. Keep the pets and children out of your photographs. Remember, this is your buyer’s first impression, and they want to see your home.
• Find the right angle. Don’t take flat pictures, like a dead-on photo of the front of your house from the street or a single shot of the bedroom from the doorway. Angles create definition. Get creative. Stand on chairs or ladders for interesting photographs.
• Use a digital camera. Digital cameras are surprisingly affordable. You can take as many pictures as you want, choose the best shots, and easily upload or email them without the time-consuming scanning process.
• Take your time. Don’t rush through the task of photographing your home. Spend time in each room determining its best features. Take several pictures of each room from as many angles as possible. You want the best possible pictures.

Let us help you sell your Orlando vacation home. Call us today at 407-876-5771 and we will take photos that make your home shine.

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Real Estate Investors - It's Time to Get Off the Fence

Florida condominium loans could be easier to get under a program announced Thursday by government-run mortgage company Fannie Mae.

The company has named a team of six employees to review hundreds of condo projects statewide that may not meet Fannie Mae's eligibility criteria for financing because of occupancy problems or high delinquency rates on homeowner association dues.

Developments deemed to be stable after the closer look will receive special designations, meaning lenders could deliver mortgage loans in these projects to Fannie Mae.

Chappy Adams, president of Illustrated Properties in Palm Beach County, said many condo buyers today have to pay cash because they can't get mortgages.

"This is definitely going to increase demand for condominiums," he said.

Fannie Mae already has issued the designations for 50 projects, all in Miami-Dade County.

More are expected in Palm Beach and Broward counties in the coming weeks.

Fannie Mae and associated company Freddie Mac buy about half of the nation's mortgages from lenders and sell them in bulk to investors. Lenders are reluctant to provide financing, particularly in Florida, if they know they won't be able to sell the mortgages to Fannie or Freddie.

The new program is meant to help Florida's distressed condos as Fannie Mae continues to provide liquidity to the broader housing market, Karen Pallotta, an executive vice president, said in a statement.

"The state's condo market has been particularly hard hit by the housing downturn and we're working with the industry and our partners to do all we can to stabilize the market and help spur recovery," she said. complete story

Source: Sun-Sentinel.com - Paul Owens

Recently, I came across a show on the Bravo network. Three high dollar real estate agents push million dollar deals in the City of Angels, Los Angeles, California. I can’t say that it reminds me of when I was a new Orlando real estate agent.

Called Million Dollar Listing, the show is a “docu-series” with three young stars:

 
• Josh Flagg graduated high school in 2004, stepped into high-end residential real estate, made several record sales and became one of Los Angeles’ best agents.
• Madison Hildebrand graduated from Pepperdine University, sold his first home to a celebrity and now sells homes as high as $20 million.
• Chad Rogers got his real estate license at 18, rose through the ranks and is currently working for a prestigious real estate brokerage.

What does all of this have to do with being a Orlando real estate agent? Nothing – and everything. Watching the show, I can’t help but think, “If these young bloods can sell a $20 million dollar house in Beverly Hills, in this economy, we can certainly sell $123,000 homes here.”

Okay, so they’re selling to a lot of celebrities. And, yes, people in Beverly Hills and the surrounding counties are famous for their big wallets. I also have to admit that it might be easier to sell a house with fifty natural selling points (huge pool with pool man, beautiful grounds cared for by landscapers, two-ton chandeliers, stables) than it is to sell an average house that has five selling points.

Having said all that, however, when times get tough remember that we have a beautiful city. We have beautiful homes for sale, nice neighborhoods and great communities. We have a lot of selling points to show off, at more affordable prices.

If you're looking for a beautiful home, even if you're not a celebrity, we can help. Call us now at 407-876-5771

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Walk Away From your Mortgage Calculator

IS IT IN MY ECONOMIC INTEREST TO WALK AWAY?   
You decide.  This calculator is just a tool to help.  Numerous variables are involved but the biggest is probably your assessment of the future of housing pricing.  No one can predict future prices, but the conventional wisdoms says that it is probably not realistic to believe that housing prices will increase by more than 4%-8% per year on average.

WHAT WILL HAPPEN IF I WALK AWAY?
It depends on the particulars of your situation.  In many states, including California, in many circumstances the “bank” has no legal or practical recourse against homeowners who stop paying their mortgages except to take their homes through foreclosure and put derogatory entries in their credit reports. 

LOAN MODIFICATION? 
The more it is in your economic interest to walk away, the more the bank should be willing to make a deal with you to get you to stay and pay.  The banks will try to base modification negotiations on what you can afford as opposed to what you should afford. 

SHORT SALE?  A short sale in Florida offers homeowners a way to avoid foreclosure and help save their credit.  We have a team of licensed Orlando Realtors and loss mitigation experts who specialize in pre-foreclosures and the short sale of all types of property.

Walk Away From your Mortgage Calculator

Source: PayOrGO.com

Stop Foreclosure & Save Your Credit SELL your Home - Short Sale

Massachusetts Real Estate Websites

• Quincy MA Homes for Sale: Quincy Massachusetts Real Estate, Quincy Massachusetts Homes for Sale. Search for Houses, Condos, Condominiums, Multi Families and Townhouses for sale in Quincy Massachusetts. Search by MBTA and other advanced criteria
• Newton MA Real Estate: Newton Massachusetts Real Estate, Newton Massachusetts Homes for Sale. Search for Houses, Condos, Condominiums, Multi Families and Townhouses for sale in Newton Massachusetts. Search by MBTA and other advanced criteria
• Worcester MA Real Estate: Worcester Massachusetts Real Estate, Worchester Massachusetts Homes for Sale. Search for Houses, Condos, Condominiums, Multi Families and Townhouses for sale in Worchester Massachusetts. Search by MBTA and other advanced criteria
• Lowell MA Homes for Sale: Lowell Massachusetts Real Estate, Lowell  Massachusetts Homes for Sale. Search for Houses, Condos, Condominiums, Multi Families and Townhouses for sale in Lowell  Massachusetts. Search by MBTA and other advanced criteria
• Quincy MA Real Estate: Quincy Massachusetts Real Estate, Quincy  Massachusetts Homes for Sale. Search for Houses, Condos, Condominiums, Multi Families and Townhouses for sale in Quincy  Massachusetts. Search by MBTA and other advanced criteria

   Mortgage Financing Returns!

PURCHASE & REMORTGAGES NOW AVAILABLE!

After almost 18 months since a viable product has been made available we finally offer a product for foreigners! Purchase and remortgages up to 70% with minimal documentation required. Rates start at 6.5% and have no redemption penalties at all! Please e-mail us for more details soon as we do not know how long this product will be around.

Orlando Vacation Homes  -  Disney area Vacation Homes