Real estate aficionados who follow the upswings and dips in the Orlando real estate market were worried that the end of the first-time homebuyer’s credit would mean an end to housing sales. Sales were up, prices were down and the market seemed to be stabilizing – thanks, in large part, to the tax credit. The tax credit motivated potential homebuyers to become actual homebuyers, which kept home sales stable.
Fortunately, those worries were groundless. President Obama signed a five-month extension on the first-time buyer tax credit November 6th. The Worker, Homeownership and Business Assistance Act of 2009 covers quite a few new bits of housing legislation:
• Extends the first-time tax credit until April 30, 2010
• Expands to include those homebuyers that haven’t owned a home in three or more years
• Allows first-time buyers that are overseas military personnel to take advantage of the credit until May 2011
• Requires documented proof that the buyer actually bought a home
• Changes the credit amount from $8,000 to “$8,000 or 10% of the home’s value”, whichever is less
• Sets the qualification guidelines at $125,000 a year or less for individuals and $225,000 or less for couples (credit amount becomes a scaled decrease above these income levels)
• Requires a minimum age of 18 for those applying for the tax credit
• Adds $6,500 tax credit for those that have lived in a home for at least five years, but want to buy a larger house
I think a lot of people want to own a home, and the extension of the tax credit can only help. As a result of the extension, buyers may take a little longer, peruse the Orlando real estate market and make sure they’ll enjoy the home they buy. While I don’t see a long line of buyers standing in line, I do see the potential for long-term market stabilization.
If you want to take advantage of the new tax credit extension, we can help. Call us today at 407-876-5771 for more information.
Thursday, December 3, 2009
FHA On Solid Ground: Hope for Orlando Real Estate Owners
A recent interview with FHA commissioner David Stevens on CNBC gives hope to Orlando real estate owners with FHA loans. The Federal Housing Administration now covers at least 30% of new home loans, so when Stevens announced that it might not make its 2% capital reserve, people were understandably nervous. For no reason, Stevens says in the CNBC interview.
Instead of immediate risk management in the form of strict guidelines that might make it harder on potential Orlando real estate owners, such as those Fannie Mae and Freddie Mac have put on condo mortgages, the FHA is going for some changes. The changes include hiring a chief risk officer and requiring higher capital standards for loan originators.
Once it was out that the FHA wouldn’t meet its 2% (please note that the FHA itself is the one who broke the news), news portals, blogs and other websites spread the news that the FHA was a train wreck. However, the CNBC interview with Stevens cleared the air a bit.
It appears that the FHA, put in place for instances like this when people can’t afford other loans, actually has two capital accounts. According to Stevens, the FHA has “lots of capital in primary reserve to cover expected defaults.” Combined, FHA capital is over $30 billion dollars.
At the present, says Stevens, the FHA isn’t considering a minimum credit score, and they may not have to. Looking at their portfolio, the average credit score has gone up 60 points, from 630 to 690, pointing to a higher quality of borrowers.
So, when thinking about buying Orlando real estate and looking at mortgage companies, don’t forget to look at the FHA. If Fannie Mae and Freddie Mac are lending, the FHA is – and it’s going strong!
You can watch the CNBC video for the full interview.
If you’re looking for a beautiful home, we can help. Call us now at 407-876-5771 for more information.
Instead of immediate risk management in the form of strict guidelines that might make it harder on potential Orlando real estate owners, such as those Fannie Mae and Freddie Mac have put on condo mortgages, the FHA is going for some changes. The changes include hiring a chief risk officer and requiring higher capital standards for loan originators.
Once it was out that the FHA wouldn’t meet its 2% (please note that the FHA itself is the one who broke the news), news portals, blogs and other websites spread the news that the FHA was a train wreck. However, the CNBC interview with Stevens cleared the air a bit.
It appears that the FHA, put in place for instances like this when people can’t afford other loans, actually has two capital accounts. According to Stevens, the FHA has “lots of capital in primary reserve to cover expected defaults.” Combined, FHA capital is over $30 billion dollars.
At the present, says Stevens, the FHA isn’t considering a minimum credit score, and they may not have to. Looking at their portfolio, the average credit score has gone up 60 points, from 630 to 690, pointing to a higher quality of borrowers.
So, when thinking about buying Orlando real estate and looking at mortgage companies, don’t forget to look at the FHA. If Fannie Mae and Freddie Mac are lending, the FHA is – and it’s going strong!
You can watch the CNBC video for the full interview.
If you’re looking for a beautiful home, we can help. Call us now at 407-876-5771 for more information.
Saving Foreclosures in Orlando with New Fannie Mae Program
As the number of foreclosures rise around the nation, some lenders have held their foreclosures in Orlando in private stock, hoping to sell them gradually in a stabilizing real estate market. That hope has slowly dwindled, however, even with the five-month extension on home buying tax credits signed by the President November 6th of this year.
Government-owned Fannie Mae may have come up with a solution.
Deed-in-Lieu
Some homeowners facing foreclosures in Orlando have more than foreclosure, loan modification or short sale options. Some qualify for a deed-in-lieu (DIL), where they sign away all their equity back to the lender and walk away “debt free” (except, possibly, for taxes). Unfortunately, a DIL leaves the homeowner without a home to live in, and the lender with a house to sell in an uncertain market.
Deed for Lease Program
Under Fannie Mae’s new Deed for Lease Program (D4L), those who go through the DIL process may be eligible to rent their home back from Fannie Mae at current market rental rates. This may not sound like a great deal, but many families have ended up on the street because of foreclosure. Those who qualify for the D4L Program will be able to remain in their homes for at least 12 months. To learn more, read the entire D4L Program eligibility list. Here are a few of the qualifications:
• No prohibitive Homeowner’s Association rental limitations
• The cost of any required repairs is an acceptable amount, based on the value of the property
• The income the lender receives from the current rental market should be expected to cover any maintenance/management costs
• The current rental rates must be less than 31% of your gross income
• The home must be a primary residence
Whether the D4L Program will help or hinder the number of foreclosures in Orlando is still up in the air, but it does give homeowners other options – something they’ve been sorely lacking.
If you’re facing foreclosure and qualify for short sale, we would love to help. Call us at 407-8776-5771 for more information.
Government-owned Fannie Mae may have come up with a solution.
Deed-in-Lieu
Some homeowners facing foreclosures in Orlando have more than foreclosure, loan modification or short sale options. Some qualify for a deed-in-lieu (DIL), where they sign away all their equity back to the lender and walk away “debt free” (except, possibly, for taxes). Unfortunately, a DIL leaves the homeowner without a home to live in, and the lender with a house to sell in an uncertain market.
Deed for Lease Program
Under Fannie Mae’s new Deed for Lease Program (D4L), those who go through the DIL process may be eligible to rent their home back from Fannie Mae at current market rental rates. This may not sound like a great deal, but many families have ended up on the street because of foreclosure. Those who qualify for the D4L Program will be able to remain in their homes for at least 12 months. To learn more, read the entire D4L Program eligibility list. Here are a few of the qualifications:
• No prohibitive Homeowner’s Association rental limitations
• The cost of any required repairs is an acceptable amount, based on the value of the property
• The income the lender receives from the current rental market should be expected to cover any maintenance/management costs
• The current rental rates must be less than 31% of your gross income
• The home must be a primary residence
Whether the D4L Program will help or hinder the number of foreclosures in Orlando is still up in the air, but it does give homeowners other options – something they’ve been sorely lacking.
If you’re facing foreclosure and qualify for short sale, we would love to help. Call us at 407-8776-5771 for more information.
Sunday, November 1, 2009
Does Your ARM Increase Mean Orlando Foreclosure?
With the current Orlando foreclosure woes, and the strains of the economy these days, many people are worried about what they’ll do when their ARM (adjustable rate mortgage) resets. Here are a few suggestions to help you weather the current financial storm:
What is an ARM?
ARM refers to a mortgage loan that has a variable interest rate. The amount of the monthly payments will change several times over the life of the loan. ARMs usually have a lower introductory interest rate than a fixed-rate mortgage. After a period of time, the interest rate is recalculated, resulting in a higher interest rate and monthly payment.
Get Out Your Loan Paperwork
Many homeowners are worried about what will happen to their monthly payments when the ARM resets. Foreclosure is a real worry. The best way to avoid Orlando foreclosure is to know exactly what the terms of your loan agreement are. Look for the date that the interest rate is set to change. Find out what the cap is on each interest rate adjustment, and what the cap is for interest increases throughout the life of the loan.
After you have gathered that information, you can calculate what your ARM will reset to. It’s best to know what the worst-case scenario payment could be when your ARM adjusts. This information can help you determine if you are going to need help getting your loan payments manageable. The next step is to make a detailed list of your current and future income and bills. This will give you a better understanding of your financial status.
Call Your Mortgage Company
If, after you make this list, you can see that you are going to have trouble making the difference in the monthly payments, call your mortgage company. It’s best to call them before you miss a payment. They may be able to renegotiate the terms of your loan for you.
If you're ready to sell your home, we can help. Call us at 407-876-5771 for more information.
What is an ARM?
ARM refers to a mortgage loan that has a variable interest rate. The amount of the monthly payments will change several times over the life of the loan. ARMs usually have a lower introductory interest rate than a fixed-rate mortgage. After a period of time, the interest rate is recalculated, resulting in a higher interest rate and monthly payment.
Get Out Your Loan Paperwork
Many homeowners are worried about what will happen to their monthly payments when the ARM resets. Foreclosure is a real worry. The best way to avoid Orlando foreclosure is to know exactly what the terms of your loan agreement are. Look for the date that the interest rate is set to change. Find out what the cap is on each interest rate adjustment, and what the cap is for interest increases throughout the life of the loan.
After you have gathered that information, you can calculate what your ARM will reset to. It’s best to know what the worst-case scenario payment could be when your ARM adjusts. This information can help you determine if you are going to need help getting your loan payments manageable. The next step is to make a detailed list of your current and future income and bills. This will give you a better understanding of your financial status.
Call Your Mortgage Company
If, after you make this list, you can see that you are going to have trouble making the difference in the monthly payments, call your mortgage company. It’s best to call them before you miss a payment. They may be able to renegotiate the terms of your loan for you.
If you're ready to sell your home, we can help. Call us at 407-876-5771 for more information.
National Foreclosure Trends and Orlando Real Estate
Everybody wants to know how the housing market is doing, especially if they own Orlando real estate. I try to keep the newsy pieces to a minimum and spend most of my Internet space on helpful pointers, but a lot of readers have asked about the market. In response to high demand, here’s a peak at the current national foreclosure trends:
Foreclosure Trends
It’s a wonderful thing to own any kind of real estate (although I’m partial to Orlando real estate, of course). Unfortunately, many people have lost their homes due to foreclosure since the housing crisis started; there have been over 7.8 million since 2007. California, Florida, Arizona, Nevada, Illinois and Michigan have been topping the count for foreclosures, adding up to 62% of the nation’s foreclosures.
California’s numbers reached 349,435 foreclosures last month, and it was feared that those numbers might escalate. However, there’s some good news there. Even though homeowners are still teetering, lending institutions are caving in under government pressure to work with those homeowners. For that matter, they may even be working with the government to stem the deluge of foreclosures.
HousingPredictor.com conducted a survey of homeowners that shows we may have as many as 25 million foreclosures before everything is said and done, mainly due to homeowners who are tired of watching housing prices fall. Such a glut of the market could cause some serious repercussions for the economy. However, again, there are some positive points.
For instance, current mortgage interest rates are ranging from as low as 4% to 5.5%, cut almost in half from the “housing boom” years. While housing prices may be dropping, the fall is slowing down. As well, lower prices mean more affordable homes. While this may not be a good thing for homeowners, it’s an excellent thing for home buyers.
As prices drop and homes become more affordable, the glutted housing market of foreclosed and for sale homes is slowly shrinking. As the reserve market (the number of houses per capita that are for sale) shrinks, consumer confidence will build up (something we desperately need). Housing demand will rise, surplus will shrink, and prices will stabilize.
Of course, in the meantime, while you’re waiting for things to stabilize, hold on to your Orlando real estate. Take advantages of the tax breaks available to upgrade your existing property, maybe get the renovations done you’ve always wanted. There are still opportunities in this market – you just have to find them!
If you’re a buyer looking for a great home, act now to find amazing bargains. We can help. Call us at 407-876-5771 for more information.
Foreclosure Trends
It’s a wonderful thing to own any kind of real estate (although I’m partial to Orlando real estate, of course). Unfortunately, many people have lost their homes due to foreclosure since the housing crisis started; there have been over 7.8 million since 2007. California, Florida, Arizona, Nevada, Illinois and Michigan have been topping the count for foreclosures, adding up to 62% of the nation’s foreclosures.
California’s numbers reached 349,435 foreclosures last month, and it was feared that those numbers might escalate. However, there’s some good news there. Even though homeowners are still teetering, lending institutions are caving in under government pressure to work with those homeowners. For that matter, they may even be working with the government to stem the deluge of foreclosures.
HousingPredictor.com conducted a survey of homeowners that shows we may have as many as 25 million foreclosures before everything is said and done, mainly due to homeowners who are tired of watching housing prices fall. Such a glut of the market could cause some serious repercussions for the economy. However, again, there are some positive points.
For instance, current mortgage interest rates are ranging from as low as 4% to 5.5%, cut almost in half from the “housing boom” years. While housing prices may be dropping, the fall is slowing down. As well, lower prices mean more affordable homes. While this may not be a good thing for homeowners, it’s an excellent thing for home buyers.
As prices drop and homes become more affordable, the glutted housing market of foreclosed and for sale homes is slowly shrinking. As the reserve market (the number of houses per capita that are for sale) shrinks, consumer confidence will build up (something we desperately need). Housing demand will rise, surplus will shrink, and prices will stabilize.
Of course, in the meantime, while you’re waiting for things to stabilize, hold on to your Orlando real estate. Take advantages of the tax breaks available to upgrade your existing property, maybe get the renovations done you’ve always wanted. There are still opportunities in this market – you just have to find them!
If you’re a buyer looking for a great home, act now to find amazing bargains. We can help. Call us at 407-876-5771 for more information.
Friday, October 9, 2009
Foreclosure Secrets for Orlando Real Estate Investors
The Time To Buy Is Now!
The golden rule when investing – be it in real estate, stocks or anything else – is to “buy low, sell high”. Given the current economic conditions, this advice is highly relevant especially if you are an investor interested in getting the most worth for your money. As a result, distress properties are definitely the right choice for you!
You are probably already aware that to make a good investment, the timing of your purchase is a very important factor. But do you know the details of investing in a changing real estate market? Are you aware of the different types of distress properties and the merits of each? For example, pre-foreclosure properties in particular are the most ideal real estate opportunity for investors wanting to close a deal quickly. On the other hand, if you are a novice investor, foreclosure properties would be most appropriate for you. The FREE series of “Distress Properties Reports for Investors” will help you learn about various aspects of investing in distress homes, and assist you in making the most well-informed decisions.
Click Here to View
The golden rule when investing – be it in real estate, stocks or anything else – is to “buy low, sell high”. Given the current economic conditions, this advice is highly relevant especially if you are an investor interested in getting the most worth for your money. As a result, distress properties are definitely the right choice for you!
You are probably already aware that to make a good investment, the timing of your purchase is a very important factor. But do you know the details of investing in a changing real estate market? Are you aware of the different types of distress properties and the merits of each? For example, pre-foreclosure properties in particular are the most ideal real estate opportunity for investors wanting to close a deal quickly. On the other hand, if you are a novice investor, foreclosure properties would be most appropriate for you. The FREE series of “Distress Properties Reports for Investors” will help you learn about various aspects of investing in distress homes, and assist you in making the most well-informed decisions.
Click Here to View
How To Get a Great Deal on an Orlando Vacation Home
Buying a Vacation Home
Have you often wondered what it would be like to own a beautiful vacation property in your desired getaway spot? Have you been reluctant to take the final step due to the inflated prices of such properties? Well, now is the ideal time to take action! In fact, given the current reduction in home prices, you could actually stay at your favorite vacation destination the entire year if you wanted to! This is due to the fact that great homes have been going through the distress sales process in a variety of vacation hotspots throughout the country. As a result, the prices of such properties have dropped dramatically. Your Dream home is no longer a dream, but closer than ever to becoming a reality.
So how do you make a great vacation buy? What are the top destinations for vacation foreclosures? Find the answers to these questions and learn more about why the time is right for investing in vacation homes in the FREE series of "Distress Properties Reports for Vacation Home Buyers".
Click Here to View Video Reports
Have you often wondered what it would be like to own a beautiful vacation property in your desired getaway spot? Have you been reluctant to take the final step due to the inflated prices of such properties? Well, now is the ideal time to take action! In fact, given the current reduction in home prices, you could actually stay at your favorite vacation destination the entire year if you wanted to! This is due to the fact that great homes have been going through the distress sales process in a variety of vacation hotspots throughout the country. As a result, the prices of such properties have dropped dramatically. Your Dream home is no longer a dream, but closer than ever to becoming a reality.
So how do you make a great vacation buy? What are the top destinations for vacation foreclosures? Find the answers to these questions and learn more about why the time is right for investing in vacation homes in the FREE series of "Distress Properties Reports for Vacation Home Buyers".
Click Here to View Video Reports
Orlando Short Sale Secrets for Orlando Home Sellers
Behind on your payments and have no equity? We can help.
Whether positive or negative, short sales are definitely creating a buzz in the marketplace. Aren’t you curious to find out why? The primary reason is the fact that short sales can prove to be a very effective way of selling your home quickly, especially given the current market situation.
Whether positive or negative, short sales are definitely creating a buzz in the marketplace. Aren't you curious to find out why?
The primary reason is the fact that short sales can prove to be very effective way of selling your home quickly, especially given the current market situation.
In order to ensure that a short sale works for your home, you need to know :
Whether positive or negative, short sales are definitely creating a buzz in the marketplace. Aren’t you curious to find out why? The primary reason is the fact that short sales can prove to be a very effective way of selling your home quickly, especially given the current market situation.
Whether positive or negative, short sales are definitely creating a buzz in the marketplace. Aren't you curious to find out why?
The primary reason is the fact that short sales can prove to be very effective way of selling your home quickly, especially given the current market situation.
In order to ensure that a short sale works for your home, you need to know :
- How to successfully negotiate a short sale
- What are the benefits of conducting a short sale
- How a Realtor can help with the process
This FREE series of Short Sales Video Reports will provide you with all this information and more.
Foreclosure Secrets - Orlando First Time Buyers
Can you afford to make such an investment? And is worth the risk?
Fortunately, as a first-time buyer, you are actually in the best of positions when it comes to buying real estate. And right now, distress properties are worth looking into and may be a great way to get a terrific deal on a home. Now there are still a number of things that you should be aware of before you buy your first home such as:
1. What to look out for and how to get the best value for your money?
2. Should you be looking at pre-foreclosures or foreclosures?
3. What are the top misconceptions regarding distress properties?
4. How easily can you get mortgage financing?
FREE Video Reports - Click Here
Fortunately, as a first-time buyer, you are actually in the best of positions when it comes to buying real estate. And right now, distress properties are worth looking into and may be a great way to get a terrific deal on a home. Now there are still a number of things that you should be aware of before you buy your first home such as:
1. What to look out for and how to get the best value for your money?
2. Should you be looking at pre-foreclosures or foreclosures?
3. What are the top misconceptions regarding distress properties?
4. How easily can you get mortgage financing?
FREE Video Reports - Click Here
Thursday, October 8, 2009
New Proposed home "short sales" plan
The U.S. Treasury will soon finalize a plan to expand its incentives for mortgage companies to include "short sales" as a way to stem a rising tide of foreclosures, according to a Treasury spokeswoman.
"Short sales," or sales of homes for less than the balance on existing mortgages, are seen as a key way to supplement other efforts such as loan modifications to steady housing. Unlike most modifications, "short sales" eliminate the problem of negative equity that has become a big reason for defaults as home prices have plunged.
The incentives, first announced in May, would expand the government's Home Affordable Modification Program that has seen limited success in lowering payments for hundreds of thousands of homeowners deemed eligible. Just 12 percent of homeowners eligible have had their loans reworked, leaving millions more foreclosures to come, the Treasury said on September 9. complete story
Source: Reuters - Al Yoon
"Short sales," or sales of homes for less than the balance on existing mortgages, are seen as a key way to supplement other efforts such as loan modifications to steady housing. Unlike most modifications, "short sales" eliminate the problem of negative equity that has become a big reason for defaults as home prices have plunged.
The incentives, first announced in May, would expand the government's Home Affordable Modification Program that has seen limited success in lowering payments for hundreds of thousands of homeowners deemed eligible. Just 12 percent of homeowners eligible have had their loans reworked, leaving millions more foreclosures to come, the Treasury said on September 9. complete story
Source: Reuters - Al Yoon
FREE Foreclosure Secrets - Real Estate Reports
These Deals Won't last Forever!
In today's market, distress and foreclosure properties are the hottest ticket when it comes to purchasing real estate. Price reductions have created a true "buyer's market". This means that prices are lower than ever, and buyers can find fantastic deals that would not be available under regular circumstances!
It is crucial to have a solid understanding of how to purchase the right kind of distress property if you want to take advantage of the great deals out there.
So, let's get started. Whether you are a first time buyer who is new to the process, or a veteran investor who has been through it all before. These exclusive video reports on Foreclosures are sure to include something you were not aware of. And the best part: they're free.
Just click on any one of the video topics below to get started.
New Realty Website of Interest - Orlando Real Estate Associates
OrlandoRealEstateAssociates.com is a group of exceptional Orlando real estate agents who have developed an unique Home Selling System specializing in foreclosure homes and short sales. Contact us for all Orlando real estate services.
The Orlando Real Estate Associates and Home Selling Team covers the Orlando - Kissimmee metro areas. Orlando Central Florida Counties include: Orange County, Seminole County, Osceola County, Polk County and Lake County.
Friday, October 2, 2009
Helping Families Save Their Orlando Homes
By now, everyone knows that, just like the Dot Com bubble, the real estate market grew its own bubble to a degree that it finally popped. Foreclosure numbers went up, sales went down and everyone, from the government to lenders to John Q public, started looking around for someone they could point a finger at and blame.
The hard truth is that placing blame doesn’t do anyone any good, especially those trying to save their Orlando homes. The truth is that it’s time to do what Americans have been doing since the country was founded – picking ourselves up off the ground, dusting off and working with what we still have. Thanks to new acts such as the “Helping Families Save Their Homes Act of 2009,” it’s even more possible to do that.
If you’ve been dealing with the possibility of foreclosure, you may have missed the news, so here are a few uplifting highlights that can make all the difference:
The hard truth is that placing blame doesn’t do anyone any good, especially those trying to save their Orlando homes. The truth is that it’s time to do what Americans have been doing since the country was founded – picking ourselves up off the ground, dusting off and working with what we still have. Thanks to new acts such as the “Helping Families Save Their Homes Act of 2009,” it’s even more possible to do that.
If you’ve been dealing with the possibility of foreclosure, you may have missed the news, so here are a few uplifting highlights that can make all the difference:
- If you rent your Orlando home and the home is foreclosed upon, you have to receive a 90-day eviction notice. You can’t just be preemptively kicked off the property. As well, if you have a lease you have to be allowed to live on the property until the lease is up unless:
a) the new owner wants to move in and make it his or her residence or
b) state law says the lease can be terminated on notice. - Although three months doesn’t seem like a lot of time, that’s three months you wouldn’t have had in most states before the Act was passed.
- Lenders and homeowners are now receiving incentives for successful loan modifications and refinancing under the Making Homes Affordable Program. According to the White House government website, “Servicers covering more than 75 percent of loans in the country have now begun modifications and refinancing under the Administration’s MHA Program.”
- One of the biggest challenges to homeowners is finding out who owns the mortgages on their homes. This can make it incredibly difficult to discuss refinancing or modification with the mortgage owner. Thanks to the Act, you have to be informed whenever your loan is sold or transferred to another party. Now, you always know who has control of your mortgage and who you need to talk to.
Dealing in the current real estate market can be hard. If you’re already struggling financially, it can be even harder. Try to keep abreast of the current laws that can help homeowners and families keep their Orlando homes!
If you can’t qualify for loan modification or refinancing, and are considering a short sale, we can help. Call us at 407-876-5771 for more information.
6 Tips to Protect Foreclosures in Orlando from Loan Modification Scams
Many facing the possibility of being added to the number of foreclosures in Orlando are frightened, often frustrated and feel helpless. It’s understandable; nobody wants to lose their home. However, those feelings often lead to being victimized by loan modification con artists who promise freedom from foreclosure for a little bit of money and leave victims in their wake.
Here are a few tips to protect yourself from scams that could take you one step closer to becoming one of the foreclosures in Orlando:
- Never believe a guarantee. No one, company or individual, can guarantee loan modification or that your lender won’t foreclose. If the loan modification company starts spouting guarantees, walk away.
- Never sign over power of attorney. Sometimes, con artists will tell you that if you sign over your house to them, their good credit can help save your home. This is never a legitimate proposal and no legitimate company will ask you to do this.
- Never spend thousands of dollars. Fees higher than $6,000 should be dismissed. Often, scam companies will charge absurdly high upfront fees to help. While some counselors will charge you a fee, those costs are added up after the loan closes, NOT before they even do anything. As well, any company charging over $4,000 needs to have a proven high quality of service and level of success.
- Always talk to your lender first. Many loan modification scam artists will tell you to stop communicating with your lender. Communication is key, however, since your lender owns the note and will, ultimately, approve or deny the modification. Talk to your lender to find out how to refinance or restructure your payment.
- Always check with the Better Business Bureau before hiring a “rescue” company. You can check with the Attorney General or Real Estate Commission as well.
- Always look for free services first. Many foreclosure specialists can help, and will do so free of charge if you can’t afford them. As well, the U.S. Department of Housing and Urban Development (HUD) has approved housing counseling that will provide foreclosure prevention services, also free of charge.
When you’re already faced with the possibility of being one of the foreclosures in Orlando, you need help – not someone who will push you further across the line. Be careful when looking for loan modification help.
If your loan modification has been denied and you need to do a short sale instead, we can help. Call us at 407-876-5771 for more information.
Tuesday, September 15, 2009
Federal Incentives for Short Sales
Obama administration is now coming out with a stream-lined national standard for short sales!
The mortgage servicing industry in coming weeks will see details of an incentive program aimed to prevent foreclosures by encouraging servicers to pursue short sales and deeds-in-lieu of foreclosure.
US Treasury Department sources confirmed to HousingWire the Treasury expects to issue details on the short sale and deed-in-lieu program later this month.
The program is being finalized and will be announced as soon as possible, according to testimony Wednesday by Federal Housing Administration (FHA) commissioner David Stevens.
He said at a House Financial Services subcommittee hearing that the Making Home Affordable (MHA) Program is on track to provide modifications and refinancings to millions of homeowners, but noted other foreclosure alternatives exist.
“Because we know that the MHA program will not reach every at-risk homeowner or prevent all foreclosures, on May 14th the Administration announced the Foreclosure Alternatives program that will provide incentives for, and encourage, servicers and borrowers to pursue short sales and deeds-in-lieu (DIL) of foreclosure in cases where the borrower is generally eligible for a MHA modification but does not qualify or is unable to complete the process,” he said, according to prepared remarks.
He said the program will simplify the process of pursuing short sales and deeds-in-lieu, which will encourage more servicers and borrowers to participate in the program. The program will standardize the process, documentation and short performance timeframes.
“These options eliminate the need for potentially lengthy and expensive foreclosure proceedings, preserve the physical condition and value of the property by reducing the time a property is vacant, and allows the homeowners to transition with dignity to more affordable housing,” Stevens added.
Distressed sales — including short sales and foreclosures — accounted for nearly one-third of all house re-sales in recent months, leading to the National Association of Realtors to offer a short sales and foreclosure certification program to realtors.
At the same time, tech vendors and mortgage service providers are looking to fill the demand for short sale-related products and services. Equi-Trax Asset Solutions recently launched a new current listing search offering that searches a servicer’s portfolio to determine short sale and modification opportunities.
Source: HousingWire.com - Diana Golobay
New Blog of Interest - Florida Realty Resource
Florida Real Estate Resource Blog
The purpose of this blog is to provide useful real estate information, which will assist both buyers and sellers. We will provide you with valuable market updates, statistical data and new trends as they develop. Many consumers find it difficult to locate the information they need when looking to buy and sell a home. This site is being provided as a free service to assist buyers and sellers in the Florida housing market make informed real estate decisions. In order to better educate and inform buyers and sellers, we will continue to develop and provide a set of comprehensive FREE Florida Real Estate Reports as a FREE No-Obligation service to our visitors. In the hope, you who visit this site and in turn, consider us in order to assist you in the purchase or sale of your home.
We truly hope that you find our blog postings, information, tools and resources helpful and we look forward to building a potential business relationship in the future.
We truly hope that you find our blog postings, information, tools and resources helpful and we look forward to building a potential business relationship in the future.
Saturday, September 12, 2009
Orlando ranks No. 8 in August foreclosures
The local foreclosure rate in August placed the Orlando-Kissimmee area among the nation’s top 10 metro areas, said RealtyTrac’s August foreclosure report.
Orlando-Kissimmee had the eighth highest rate with one in every 87 homes receiving a foreclosure filing last month. The Cape Coral-Fort Myers area was the only other Florida metro in the top 10, placing No. 9 with one in every 88 homes getting an August filing.
The Sunshine State continued to hold the second spot in the nation in foreclosures, the report said. About one in every 140 Florida homes received a foreclosure filing — including default notices, scheduled property auctions and bank repossessions — in August, second only to Nevada’s rated of one in every 62 homes.
Meanwhile, Florida posted 62,401 August foreclosure filings, a more than 10 percent jump from the previous month despite a 5 percent decrease in bank repossessions. Florida also saw a 12 percent jump in August default notices when compared with the previous month, while 13 percent more auctions were scheduled in August than in July.
Only California had a higher number of total filings, with 92,326 filed during the month.
Nationwide, 358,471 foreclosure filings were reported in August, nearly 1 percent less than the previous month but up nearly 18 percent greater than August 2008. RealtyTrac also reported one in every 357 U.S. homes received a filing in August.
Six states accounted for 62 percent of the nation’s total foreclosure activity in August, despite decreasing bank repossessions in all six states.
The RealtyTrac U.S. Foreclosure Market Report tracks properties with at least one foreclosure filing reported during the month. Data is collected from more than 2,200 counties nationwide accounting for more than 90 percent of the nation’s population.
Source: Orlando Business Journal
Orlando-Kissimmee had the eighth highest rate with one in every 87 homes receiving a foreclosure filing last month. The Cape Coral-Fort Myers area was the only other Florida metro in the top 10, placing No. 9 with one in every 88 homes getting an August filing.
The Sunshine State continued to hold the second spot in the nation in foreclosures, the report said. About one in every 140 Florida homes received a foreclosure filing — including default notices, scheduled property auctions and bank repossessions — in August, second only to Nevada’s rated of one in every 62 homes.
Meanwhile, Florida posted 62,401 August foreclosure filings, a more than 10 percent jump from the previous month despite a 5 percent decrease in bank repossessions. Florida also saw a 12 percent jump in August default notices when compared with the previous month, while 13 percent more auctions were scheduled in August than in July.
Only California had a higher number of total filings, with 92,326 filed during the month.
Nationwide, 358,471 foreclosure filings were reported in August, nearly 1 percent less than the previous month but up nearly 18 percent greater than August 2008. RealtyTrac also reported one in every 357 U.S. homes received a filing in August.
Six states accounted for 62 percent of the nation’s total foreclosure activity in August, despite decreasing bank repossessions in all six states.
The RealtyTrac U.S. Foreclosure Market Report tracks properties with at least one foreclosure filing reported during the month. Data is collected from more than 2,200 counties nationwide accounting for more than 90 percent of the nation’s population.
Source: Orlando Business Journal
Wednesday, September 2, 2009
Can’t Afford the Rent on Orlando Homes?
If you’re looking at Orlando homes to rent but think you can’t afford them, you might want to take another look. This is especially true if you have a good credit history. When it comes to finding tenants, landlords have never been more willing to play “Let’s Make a Deal."
Sitting Pretty
Why would any landlord be willing to make a deal? The reason topping the list is, of course, the economy. With so many people having lost their jobs, finding tenants who can afford the rent on time isn’t easy. Second, many renters are trying to save money by having roommates. Thirdly, because of the marketing slump there are plenty of homeowners renting out their Orlando homes rather than selling them. Lastly, because of the first-time buyer tax credit, many potential renters are becoming homeowners instead.
All of these points add up to a high amount of vacancies, which put landlords in a pickle and have renters sitting pretty.
Taking Steps
Many landlords are trying everything they can to keep their rentals occupied to help pay for the maintenance on the buildings. The steps they’ve taken include such things as:
-Lowering rents
-Giving a month or two of free rent
-Lowering deposits
-Offering upgrades
-Offering storage and parking at lower rates
-Relaxing pet policies
-Allowing more leniency for breaking the lease
Let’s Make a Deal
So what can you do to take advantage of the renting situation? What points can you base your bargain on?
-Start with a good credit rating. If you have a history of paying on time, you have a chance at negotiation.
-Pay attention to the average rent in the area. If the rents on the Orlando homes you’re looking at are higher than average, you have a point to negotiate.
-Look at one-bedroom homes first, if they will work. Many two- and three- bedroom homes are taken by individuals sharing rent and families. There may be a surplus of one-bedroom houses, so you might have a better chance of snagging one of them.
If you’re looking for an affordable place to rent or buy, we can help. Call us at 407-876-5771 for more information.
Sitting Pretty
Why would any landlord be willing to make a deal? The reason topping the list is, of course, the economy. With so many people having lost their jobs, finding tenants who can afford the rent on time isn’t easy. Second, many renters are trying to save money by having roommates. Thirdly, because of the marketing slump there are plenty of homeowners renting out their Orlando homes rather than selling them. Lastly, because of the first-time buyer tax credit, many potential renters are becoming homeowners instead.
All of these points add up to a high amount of vacancies, which put landlords in a pickle and have renters sitting pretty.
Taking Steps
Many landlords are trying everything they can to keep their rentals occupied to help pay for the maintenance on the buildings. The steps they’ve taken include such things as:
-Lowering rents
-Giving a month or two of free rent
-Lowering deposits
-Offering upgrades
-Offering storage and parking at lower rates
-Relaxing pet policies
-Allowing more leniency for breaking the lease
Let’s Make a Deal
So what can you do to take advantage of the renting situation? What points can you base your bargain on?
-Start with a good credit rating. If you have a history of paying on time, you have a chance at negotiation.
-Pay attention to the average rent in the area. If the rents on the Orlando homes you’re looking at are higher than average, you have a point to negotiate.
-Look at one-bedroom homes first, if they will work. Many two- and three- bedroom homes are taken by individuals sharing rent and families. There may be a surplus of one-bedroom houses, so you might have a better chance of snagging one of them.
If you’re looking for an affordable place to rent or buy, we can help. Call us at 407-876-5771 for more information.
Tuesday, September 1, 2009
Do Orlando Foreclosures Make Good Rental Real Estate?
Even, perhaps especially, in an economic downturn, people are trying to make a living in the real estate market. “Flipping” houses used to be a great way to make a little cash, but not now. Many are now looking at long-term cash prospects, such as renting property, and Orlando foreclosures seem to be a good start. But are they? Let’s take a look.
Finding a good rental property isn’t easy. It’s not like shopping; you can’t go into a real estate store and grab the first house off the rack that looks good on you. It’s a process of investigating, gaining knowledge and being realistic. This is especially true when looking at Orlando foreclosures.
Homeowners who suffered foreclosure were unable to pay the mortgage. We all know that. What people usually don’t think about is that the homeowners were probably also unable to pay for upkeep. This means that you, as the buyer, have a larger possibility of buying a money pit rather than a moneymaker. Keep this in mind as you look over a few tips for finding good rental property:
Location – Since you’re looking at foreclosed properties rather than properties that are already set up for renting, you can’t check established rental records. However, you can ask your real estate agent for a list of areas with less people moving out and more moving in. As well, look at areas with surrounding retail development. New shopping malls, theatres and restaurants will bring in more people to an area.
Addition and subtraction – It’s time to do the math. Ask your real estate agent for what the going rental rates are in the area you’re looking at. You’ll need to find out if the rent you can charge will take care of expenses as well as bring you profit. Figure the yearly income you can expect to make and then subtract mortgage payments and operating expenses. If your math produces a negative balance, don't buy the property.
Taxes – Once you pay expenses, your income is taxable. Now, while you can depreciate rental property, you can’t depreciate the land it’s on. Talk to a real estate agent or accountant to decide whether it’s worth it or not.
If you follow these three tips and remember to pay attention to the amount of repair needed, you might just find some fantastic deals on Orlando foreclosures. Take a little time to make sure renting is for you, and then get started.
If you’re looking for potential rental property, we can help. Call us at 407-876-5771 for more information.
Foreclosures in Orlando, Title Searches and Title Insurance
When you’re looking to buy a home, and especially when you’re looking at foreclosures in Orlando or anywhere else, title searches are important.
Many buyers make the mistake of settling for a quitclaim deed without doing a title search. Unfortunately, the person who signs the quitclaim deed may not be the actual person holding the title. If there are any liens on the title, the new owner may get an unpleasant surprise at closing. With foreclosures in Orlando, the possibility that there is a lien on the title is even greater.
What is a title search?
Title searches are performed by title companies or lawyers. These companies and attorneys search the public records for information on the property’s ownership. The goal is to find out if there are any problems with the title.
What kind of information can a title search give you?
A complete title search will cover such things as:
How many mortgages the property has
Any liens, such as judgments or mortgages, on the property
Taxes owed on the property
The purpose, other than finding current information, is to establish chain-of-title - who owned the property at what time, who they sold it to and so on. Title companies look for proof that any encumbrances have been taken care of, as well as easements, rights-of-way and anything else that can affect the title.
Why get title insurance?
Most title companies also offer title insurance. Title insurance, depending on the company, provides a guarantee that the title is clear, as well as insuring that you can’t be held accountable for forgery, fraud, defective records or incorrect signatures that occurred before you received the title. It also guarantees that there is no encumbrance or judgment on the property.
Foreclosures in Orlando are a good bet for a great home or investment property. However, make sure you know what you’re getting by having a title search done. As well, spend the money on that one-time fee for title insurance. It may be the best investment you’ve ever made!
Thinking of buying a home? Let us guide you easily through the entire process, from negotiating the price to having a title search performed to signing your closing papers. Call us today at 407-876-5771.
Many buyers make the mistake of settling for a quitclaim deed without doing a title search. Unfortunately, the person who signs the quitclaim deed may not be the actual person holding the title. If there are any liens on the title, the new owner may get an unpleasant surprise at closing. With foreclosures in Orlando, the possibility that there is a lien on the title is even greater.
What is a title search?
Title searches are performed by title companies or lawyers. These companies and attorneys search the public records for information on the property’s ownership. The goal is to find out if there are any problems with the title.
What kind of information can a title search give you?
A complete title search will cover such things as:
How many mortgages the property has
Any liens, such as judgments or mortgages, on the property
Taxes owed on the property
The purpose, other than finding current information, is to establish chain-of-title - who owned the property at what time, who they sold it to and so on. Title companies look for proof that any encumbrances have been taken care of, as well as easements, rights-of-way and anything else that can affect the title.
Why get title insurance?
Most title companies also offer title insurance. Title insurance, depending on the company, provides a guarantee that the title is clear, as well as insuring that you can’t be held accountable for forgery, fraud, defective records or incorrect signatures that occurred before you received the title. It also guarantees that there is no encumbrance or judgment on the property.
Foreclosures in Orlando are a good bet for a great home or investment property. However, make sure you know what you’re getting by having a title search done. As well, spend the money on that one-time fee for title insurance. It may be the best investment you’ve ever made!
Thinking of buying a home? Let us guide you easily through the entire process, from negotiating the price to having a title search performed to signing your closing papers. Call us today at 407-876-5771.
Friday, August 21, 2009
Orlando Foreclosure To Some Is Orlando Investment To Others
Foreclosures are on the rise all over the country. As people are losing jobs and as wealth vanishes, even mortgages that are not subprime are going into default. Yet, as more people abandon their homes because they cannot pay their monthly mortgage costs, hungry investors with cash are scrambling to purchase those homes at bargain rates.
According to the Boston Globe, recent foreclosure proceedings from lenders “approached historic highs.” Lenders started over 2800 foreclosure proceedings in July, as opposed to the 500 or so that were filed in June of 2009 and a year ago in July of 2008.
In Florida, where I sell real estate, the Miami Herald reports that 23 per cent, or almost 807,000 loans, were either past due or in foreclosure by June of this year. Unfortunately for Florida, we lead the nation in foreclosures in this category: 12% for us versus just over 4% for everyone else. complete story
Source: Hulig News
According to the Boston Globe, recent foreclosure proceedings from lenders “approached historic highs.” Lenders started over 2800 foreclosure proceedings in July, as opposed to the 500 or so that were filed in June of 2009 and a year ago in July of 2008.
In Florida, where I sell real estate, the Miami Herald reports that 23 per cent, or almost 807,000 loans, were either past due or in foreclosure by June of this year. Unfortunately for Florida, we lead the nation in foreclosures in this category: 12% for us versus just over 4% for everyone else. complete story
Source: Hulig News
Saturday, August 1, 2009
One of the Possible Foreclosures in Orlando? All is Not Lost!
Thanks to President Obama’s ambitious plan to improve the housing market, being on the list of foreclosures in Orlando doesn’t necessarily mean that foreclosure is inevitable. You have options, and the President’s loan modification program makes keeping your home even more possible.
Overview of the Plan
The President’s plan to reduce foreclosures in Orlando is based on the thought that struggling homeowners wouldn’t sell their houses if they could only make the monthly payments. Due to this belief, participating lenders are required to reduce monthly payments for homeowners who qualify until they’re no more than 38% of the homeowner’s monthly gross income. After that, the government lends a helping hand. Between the lender and the government, the mortgage payments would be dropped to no more than 31% through various means (extension of the loan, reduced interest rate, etc).
Even with the 31% threshold, many are afraid that’s not enough incentive for homeowners to keep up payments on a depreciating home. They speculate that homeowners may default on the loan anyway. To cover this possibility, the administration is offering cash incentives to lenders and struggling homeowners.
Each lender that participates will receive $1,000 per loan modification. Those lenders will also get an annual $1,000 for up to three years as long as the homeowner keeps their payments up. For homeowners facing foreclosures in Orlando, the good news is that borrowers can get their principal lowered by $1,000 per year for up to five years. Again, however, it depends on whether they keep their payments up.
You May Qualify
This is fantastic news for many. If you’re facing foreclosure due to financial hardship, you may qualify for loan modification under the administration’s plan. If you live in the home, the principal balance still owed is less than $729,750 and you received the loan before January 1, 2009, you’re eligible. Be aware, however, that you have to prove that you live there, that it’s your primary residence and that you’re having a financial hardship.
If you’re behind on your mortgage or facing foreclosure, We can help you figure out your options. Time is of the essence, so give us a call now at 407-876-5771.
Overview of the Plan
The President’s plan to reduce foreclosures in Orlando is based on the thought that struggling homeowners wouldn’t sell their houses if they could only make the monthly payments. Due to this belief, participating lenders are required to reduce monthly payments for homeowners who qualify until they’re no more than 38% of the homeowner’s monthly gross income. After that, the government lends a helping hand. Between the lender and the government, the mortgage payments would be dropped to no more than 31% through various means (extension of the loan, reduced interest rate, etc).
Even with the 31% threshold, many are afraid that’s not enough incentive for homeowners to keep up payments on a depreciating home. They speculate that homeowners may default on the loan anyway. To cover this possibility, the administration is offering cash incentives to lenders and struggling homeowners.
Each lender that participates will receive $1,000 per loan modification. Those lenders will also get an annual $1,000 for up to three years as long as the homeowner keeps their payments up. For homeowners facing foreclosures in Orlando, the good news is that borrowers can get their principal lowered by $1,000 per year for up to five years. Again, however, it depends on whether they keep their payments up.
You May Qualify
This is fantastic news for many. If you’re facing foreclosure due to financial hardship, you may qualify for loan modification under the administration’s plan. If you live in the home, the principal balance still owed is less than $729,750 and you received the loan before January 1, 2009, you’re eligible. Be aware, however, that you have to prove that you live there, that it’s your primary residence and that you’re having a financial hardship.
If you’re behind on your mortgage or facing foreclosure, We can help you figure out your options. Time is of the essence, so give us a call now at 407-876-5771.
3 Major Things to Look at When Buying Orlando Foreclosures
If you’re looking to get a good deal by buying one of the Orlando foreclosures, keep in mind that many of the homeowners not only didn’t have money for the mortgage, they probably didn’t have money for the upkeep of the house either. If you’ve found a home you’re interested in, here’s a short checklist to follow even before you decide to contact a home inspector.
Structure
For some Orlando foreclosures, structure is a definite issue. Pay close attention to the following, as they may indicate more severe problems:
Structure
For some Orlando foreclosures, structure is a definite issue. Pay close attention to the following, as they may indicate more severe problems:
- Are the interior walls in good condition? Any cracks and stains?
- Are the floors in good condition? What are they made of? Some floors are made of substandard materials, unsafe for more than casual use.
- Is the roof in good repair or are there missing/curled up shingles?
- Are the gutters, downspouts and flashing in good condition?
Do the doors and windows stick or glide freely? When closed, do they block out weather or is there a draft?
Water - Is there mold and mildew on the basement walls or a dark, scaly surface? This can indicate too much moisture, and can mean a leak in the foundation.
- Is the ceiling bubbling, have brown spots, patches or new paint? New paint might be a sign of covering up stains from water leaks.
- Are there drainpipes around the foundation? Do they lead away from the foundation? Are there cracks or a lot of weeds around the area?
Inside Hazards
Many older houses haven’t been updated or may not be up to code. Here are some of the more common issues: - Is there asbestos around exposed pipes for the furnace, heating system or water heater?
- Can you see any signs of vermin or insects? Mice, termites, cockroaches and bats all leave signs of habitation behind.
If everything else is good, have the house tested for radon, carbon monoxide and lead-based paint.
Although there are many other things to consider when looking to purchase Orlando foreclosures, these three are essential to a healthy living environment. Most importantly, make sure you’re an informed buyer.
If you’re looking to buy a foreclosed home, we can help. Call us today at 407-876-5771.
Friday, July 31, 2009
Orlando Real Estate No. 10 on foreclosure list
The Orlando area experienced a 76 percent jump in mid-year foreclosures when compared to the same period a year ago, according to RealtyTrac.
One in every 23 homes in the Orlando area, or 4.28 percent of all households, reported a foreclosure filing in the first half of the year, including a notice of default, notice of auction or bank repossession. The market had the 10th highest rate among the nation’s largest metro areas.
The Las Vegas area recorded the highest foreclosure rate, with one in every 13 homes, or 7.5 percent of all homes, receiving a filing. Burlington, Vt., recorded the lowest rate with only one in every 8,066 homes, or 0.01 percent, receiving a filing.
The Orlando area also posted 37,801 foreclosure filings, the eighth highest among the 203 metro areas included in the report.
The Daytona Beach area was 19th on the list, with one in every 37 homes, or nearly 2.7 percent of all homes, reported a foreclosure in the first part of the year. The Daytona area reported 6,635 foreclosure filings in that period.
Six Florida areas were among the top 20 metro areas to see the highest foreclosure rate in the first part of the year, led by the Fort Myers area with one in every 14 homes, or 7.2 percent of all homes, reporting a foreclosure filing. The Fort Myers area also had a total of 25,926 fillings in the first six months of this year.
The RealtyTrac U.S. Foreclosure Market Report provides the total number of properties with at least one foreclosure filing reported between January-June of this year. Data is collected from more than 2,200 counties nationwide, accounting for more than 90 percent of the U.S. population. If more than one foreclosure document is filed against a property during the period, only the most recent filing is counted in the report.
Source: Orlando Business Journal
One in every 23 homes in the Orlando area, or 4.28 percent of all households, reported a foreclosure filing in the first half of the year, including a notice of default, notice of auction or bank repossession. The market had the 10th highest rate among the nation’s largest metro areas.
The Las Vegas area recorded the highest foreclosure rate, with one in every 13 homes, or 7.5 percent of all homes, receiving a filing. Burlington, Vt., recorded the lowest rate with only one in every 8,066 homes, or 0.01 percent, receiving a filing.
The Orlando area also posted 37,801 foreclosure filings, the eighth highest among the 203 metro areas included in the report.
The Daytona Beach area was 19th on the list, with one in every 37 homes, or nearly 2.7 percent of all homes, reported a foreclosure in the first part of the year. The Daytona area reported 6,635 foreclosure filings in that period.
Six Florida areas were among the top 20 metro areas to see the highest foreclosure rate in the first part of the year, led by the Fort Myers area with one in every 14 homes, or 7.2 percent of all homes, reporting a foreclosure filing. The Fort Myers area also had a total of 25,926 fillings in the first six months of this year.
The RealtyTrac U.S. Foreclosure Market Report provides the total number of properties with at least one foreclosure filing reported between January-June of this year. Data is collected from more than 2,200 counties nationwide, accounting for more than 90 percent of the U.S. population. If more than one foreclosure document is filed against a property during the period, only the most recent filing is counted in the report.
Source: Orlando Business Journal
Thursday, July 16, 2009
Orlando Foreclosure Filings Fall 24 Percent
Foreclosure filings in the Orlando area fell by 24 percent from May to June, with Orange and Osceola counties recording the biggest declines, according to the latest report by a national tracking firm.
Florida overall remained one of the most foreclosure-wracked states in the country last month, trailing only Nevada and Arizona, according to Realtytrac Inc., the California-based research company.
"Things are moving," said Altamonte Springs lawyer Matt Englett, who specializes in foreclosure cases. "The lenders are getting their acts together. They're a lot better than they were a year ago. The judiciary in the whole state now understands how foreclosures should be treated.
"In four-county Metro Orlando, one in every 132 households faced some type of foreclosure-related legal action in June, Realtytrac said. That compares with one of every 75 homes in the hard-hit Fort Myers area and one of every 424 homes in Gainesville, home of the University of Florida. complete story
Source: Orlando Sentinel - Mary Shanklin
Florida overall remained one of the most foreclosure-wracked states in the country last month, trailing only Nevada and Arizona, according to Realtytrac Inc., the California-based research company.
"Things are moving," said Altamonte Springs lawyer Matt Englett, who specializes in foreclosure cases. "The lenders are getting their acts together. They're a lot better than they were a year ago. The judiciary in the whole state now understands how foreclosures should be treated.
"In four-county Metro Orlando, one in every 132 households faced some type of foreclosure-related legal action in June, Realtytrac said. That compares with one of every 75 homes in the hard-hit Fort Myers area and one of every 424 homes in Gainesville, home of the University of Florida. complete story
Source: Orlando Sentinel - Mary Shanklin
Thursday, July 2, 2009
3 Big Tips on Staging Orlando Homes for Sale
What is home staging and how will it help you sell your home? Staging Orlando homes for sale is, quite literally, setting the stage for buyers. You want the home to look good, you want it to have the right atmosphere to attract buyers, and you want the first impression to blow them away.
Staging a home can mean sprucing up the paint job, eliminating clutter, moving furniture around – practically anything that makes your home look better to the buyer is staging. Whether you decide to do it yourself or hire a home staging professional, it can, and will, help you sell your home.
Here are a few pointers on how to stage your home and how each suggestion can help sell your home faster or for more money:
Style – Although the decorating styles of Orlando homes for sale range widely, you want to make sure your home doesn’t have too much of a good thing. Too much decorating style overwhelms the potential buyers' senses and doesn't allow them to imagine adding their own personality to the home. Try to look at your home from a buyer's point of view and design it to sell.
How it helps: Furnished homes with just a hint of style help buyers see possibilities they can bring to the home such as a different wall color, new curtains or hardwood floors versus carpeting. The easier you make it for the buyers to see themselves living in the home, the better chance it has of selling.
Clutter – In real estate terms, “clutter” is any personal touch that makes it obviously yours. Remember, you’re trying to sell your home, not show people what a great decorator you are. Before you start with open houses, pack up all your personal pictures, knick-knacks and bric-a-brac.
How it helps: Removing your personal clutter lets potential buyers see it as their own. No matter how much you love the items, leaving personal touches is, invariably, a turnoff to the buyer. It makes it darn near impossible to see the house as anything but yours.
Cook – Before an open house, start baking chocolate chip cookies or an apple pie – something that smells good to most people.
How it helps: Orlando homes for sale should feel, well, homey. Anything they can see, smell, touch or feel should be set up for maximum selling affect. Baking smells are an excellent touch.
Home staging will help get your home ready to sell, and set you well on your way. If you need help staging and selling your home, we would love to lend a hand. Contact us today at 407-876-5771 for more information.
Staging a home can mean sprucing up the paint job, eliminating clutter, moving furniture around – practically anything that makes your home look better to the buyer is staging. Whether you decide to do it yourself or hire a home staging professional, it can, and will, help you sell your home.
Here are a few pointers on how to stage your home and how each suggestion can help sell your home faster or for more money:
Style – Although the decorating styles of Orlando homes for sale range widely, you want to make sure your home doesn’t have too much of a good thing. Too much decorating style overwhelms the potential buyers' senses and doesn't allow them to imagine adding their own personality to the home. Try to look at your home from a buyer's point of view and design it to sell.
How it helps: Furnished homes with just a hint of style help buyers see possibilities they can bring to the home such as a different wall color, new curtains or hardwood floors versus carpeting. The easier you make it for the buyers to see themselves living in the home, the better chance it has of selling.
Clutter – In real estate terms, “clutter” is any personal touch that makes it obviously yours. Remember, you’re trying to sell your home, not show people what a great decorator you are. Before you start with open houses, pack up all your personal pictures, knick-knacks and bric-a-brac.
How it helps: Removing your personal clutter lets potential buyers see it as their own. No matter how much you love the items, leaving personal touches is, invariably, a turnoff to the buyer. It makes it darn near impossible to see the house as anything but yours.
Cook – Before an open house, start baking chocolate chip cookies or an apple pie – something that smells good to most people.
How it helps: Orlando homes for sale should feel, well, homey. Anything they can see, smell, touch or feel should be set up for maximum selling affect. Baking smells are an excellent touch.
Home staging will help get your home ready to sell, and set you well on your way. If you need help staging and selling your home, we would love to lend a hand. Contact us today at 407-876-5771 for more information.
5 Fourth of July Safety Tips for Orlando Homes
The Fourth of July is an exciting – and delicious - time of year for owners of Orlando homes. There’s swimming, grilling hot dogs and hamburgers, and, of course, fireworks. While the lights are pretty and it’s a blast to set them off, a moment of carelessness can ruin a good time. Following this list of common – and not so common – safety tips will help ensure that you have a safe and happy July 4th.
1. Get rid of the weeds around your house. Although most Orlando homes are well taken care of, a lot of them have a little bit of weed growth here and there. Making sure the weeks are cut short (less than 3 inches) or destroyed will lower the risk of stray sparks setting them on fire.
2. Water your roof and the ground around your house. Stray bottle rockets and roman candles are the culprits of many a house fire. If you hose down your roof and the ground around your house in a strip about three feet deep before the fireworks start going off, these mindless arsons won’t have a chance.
3. Keep a bucket of water handy. As a safety measure, a bucket of water close by can’t be beat. Many a ground firework has had a stray spark left in it even after the light display is over. Sprinkling a little water on them when they’re done can stop fires before they start, and lower the chance of little hands getting burned.
4. No pointing. Is there anyone who hasn’t enjoyed a Roman candle war? Fun as it may be, pointing fireworks at each other is highly dangerous. Point them toward the sky where they belong!
5. Only light them once. If you get a dud, consider it a spent firework and throw a little water on it. Several people have lost fingers due to trying to relight a firework that didn’t explode the first time.
Practicing fireworks safety and a little bit of common sense can go a long way toward Orlando homes surviving one of the most fire-filled days of the year. Be safe, and have a happy Fourth of July!
1. Get rid of the weeds around your house. Although most Orlando homes are well taken care of, a lot of them have a little bit of weed growth here and there. Making sure the weeks are cut short (less than 3 inches) or destroyed will lower the risk of stray sparks setting them on fire.
2. Water your roof and the ground around your house. Stray bottle rockets and roman candles are the culprits of many a house fire. If you hose down your roof and the ground around your house in a strip about three feet deep before the fireworks start going off, these mindless arsons won’t have a chance.
3. Keep a bucket of water handy. As a safety measure, a bucket of water close by can’t be beat. Many a ground firework has had a stray spark left in it even after the light display is over. Sprinkling a little water on them when they’re done can stop fires before they start, and lower the chance of little hands getting burned.
4. No pointing. Is there anyone who hasn’t enjoyed a Roman candle war? Fun as it may be, pointing fireworks at each other is highly dangerous. Point them toward the sky where they belong!
5. Only light them once. If you get a dud, consider it a spent firework and throw a little water on it. Several people have lost fingers due to trying to relight a firework that didn’t explode the first time.
Practicing fireworks safety and a little bit of common sense can go a long way toward Orlando homes surviving one of the most fire-filled days of the year. Be safe, and have a happy Fourth of July!
Wednesday, July 1, 2009
Checklist for Moving When Facing Orlando Foreclosures
If you’re one of the many people dealing with Orlando foreclosures, you will probably be moving to a smaller, more affordable place. When it’s time to move you don’t want to leave the important things behind, but you may not have room for everything, either. Here’s a checklist to help you get the important stuff taken care of within the last month:
- Change of address – With the rate Orlando foreclosures happen, you want to make sure your change of address is one of the first things you do.
- Find a moving and packing company.
- Clean out your safe deposit box and transfer it to the new area.
- Get your family’s medical records, school records and other important papers.
- Change your insurance policies for your home.
- Get a fire resistant safe and put all records, cards, birth certificates, etc. Make sure you have it with you during the actual move.
- Pack less used items.
- Arrange to have the utilities disconnected/changed over.
- Plan your remaining meals so you can pack the nonperishable items you don’t need.
- Make a list of everything you’re personally taking with you.
- Walk through and decide what you really need to take. Hold a garage sale or call a charity to get rid of the rest.
- Let your friends and family members know where you’re going and how they can reach you.
- Confirm arrangements with the moving and storage companies.
- Check the yard and sheds for left over items.
- Take apart any furniture or other items for packing.
- Start a “survival box”, which includes anything you might need for overnight or for a few days.
- Defrost the refrigerator and freezer.
- Close bank accounts if needed.
- Do a last walk through before leaving to make sure you haven’t forgotten anything. Be sure to look through the attic, basement, closets, etc.
- Drop off your keys with the bank or new owner.
Being one of the Orlando foreclosures isn’t fun; it’s stressful and you’re more likely to forget things in this type of situation. Make lists to keep track of what you’re doing and then use them!
When you're ready to buy your next home, let us help you find one that fits your lifestyle, budget and needs.
5 Things to Look for When Buying Orlando Foreclosures as an Investment
People buy Orlando foreclosures for a lot of reasons: to live in, as fixer-uppers, to flip and for investment purposes. The current real estate market isn't so hot for quickly selling foreclosures at a profit. Instead, consider purchasing foreclosures and holding on to your investment until the market turns around. In the meantime, earn money by renting the houses.
Here are 5 things to look for when buying Orlando foreclosures to rent out:
1. Most Orlando foreclosures are nice homes that, for one reason or another, the sellers have had to let go. With the variety of houses available, take your time and find a property that doesn’t require a lot of major renovations, unless, that is, you’re a handy man and enjoy fixing up homes.
2. Figure out the costs of the potential rental property and then look at the average rent in the area. If the rent would cover the costs and a little over, it’s a keeper.
3. Many of the homes have been updated with more energy efficient appliances. Energy efficiency is better for you, as the landlord, and better for them, as the tenant. Due to the current push towards environmental concerns, if you buy a home that isn’t updated, you may eventually want to do so. Cut through the update havoc and look for energy efficient homes.
4. Like you would with any potential home, look into the cost of utilities, property taxes and so on. Make sure that you can handle the costs in the eventuality that the home stays empty for a while.
5. Make sure the home you look at is “tenant friendly”. If there are a lot of breakable fixtures, big bay windows or glass enclosures, you might not want families living there due to the cost of repairs. Families are the highest number of renters, so look for homes that would withstand children.
“Accidental” landlords – those who hadn’t planned to rent, but did because they couldn’t sell – are a growing population. Instead of being accidental, plan for it. Look into buying Orlando foreclosures as a rental investment. There might be a home just waiting for your tenants.
If you need help finding the perfect foreclosed home, give us a call today at 407-876-5771.
Here are 5 things to look for when buying Orlando foreclosures to rent out:
1. Most Orlando foreclosures are nice homes that, for one reason or another, the sellers have had to let go. With the variety of houses available, take your time and find a property that doesn’t require a lot of major renovations, unless, that is, you’re a handy man and enjoy fixing up homes.
2. Figure out the costs of the potential rental property and then look at the average rent in the area. If the rent would cover the costs and a little over, it’s a keeper.
3. Many of the homes have been updated with more energy efficient appliances. Energy efficiency is better for you, as the landlord, and better for them, as the tenant. Due to the current push towards environmental concerns, if you buy a home that isn’t updated, you may eventually want to do so. Cut through the update havoc and look for energy efficient homes.
4. Like you would with any potential home, look into the cost of utilities, property taxes and so on. Make sure that you can handle the costs in the eventuality that the home stays empty for a while.
5. Make sure the home you look at is “tenant friendly”. If there are a lot of breakable fixtures, big bay windows or glass enclosures, you might not want families living there due to the cost of repairs. Families are the highest number of renters, so look for homes that would withstand children.
“Accidental” landlords – those who hadn’t planned to rent, but did because they couldn’t sell – are a growing population. Instead of being accidental, plan for it. Look into buying Orlando foreclosures as a rental investment. There might be a home just waiting for your tenants.
If you need help finding the perfect foreclosed home, give us a call today at 407-876-5771.
Saturday, June 6, 2009
How to Decide if You Should Remodel Your Orlando Home or Move
From birthdays and anniversaries to graduations and weddings, your home has seen many great days. But, you also may find yourself making repairs more often, and you could begin to get the feeling you need a change. This change can come by remodeling your Orlando home or selling it. Before you make a decision, consider a few very important factors.
· What does remodel mean to you? — If your idea of a remodel is as simple as replacing flooring and adding fresh paint, that should be an easy fix. But if a complete demolition job is involved, you'll probably save yourself money and a lot of headaches by buying a new home.
· Factor in finances – Whether you plan to remodel your Orlando home or move, money is involved. Figure out if it financially makes more sense to make updates to your current home or move into a new already updated home. You'd be surprised how quickly renovation costs can add up, so keep that in mind.
· Assess your neighborhood – Do you still recognize the area you once knew? Are your neighbors still "neighborly?" An important point to consider is whether or not the neighborhood still has value. You want to make sure it is well kept and safe. If not, selling could be the answer. You also don't want to price yourself out of the neighborhood. If updating your home would make it the highest valued home in the neighborhood, you'd be better off moving into a neighborhood where you can purchase one of the lowest valued homes.
· What about the children? Most times, when kids practically grow up in a home, many strong friendships are made. Think about how moving can affect your kids. Starting over in a new neighborhood and a new school can be life changing for children. In this case, remodeling your home could be the better option.
Bottom line, when trying to figure out if you should remodel you Orlando home or sell, take your time. You should exhaust every possibility to ensure you make the right choice for you.
· What does remodel mean to you? — If your idea of a remodel is as simple as replacing flooring and adding fresh paint, that should be an easy fix. But if a complete demolition job is involved, you'll probably save yourself money and a lot of headaches by buying a new home.
· Factor in finances – Whether you plan to remodel your Orlando home or move, money is involved. Figure out if it financially makes more sense to make updates to your current home or move into a new already updated home. You'd be surprised how quickly renovation costs can add up, so keep that in mind.
· Assess your neighborhood – Do you still recognize the area you once knew? Are your neighbors still "neighborly?" An important point to consider is whether or not the neighborhood still has value. You want to make sure it is well kept and safe. If not, selling could be the answer. You also don't want to price yourself out of the neighborhood. If updating your home would make it the highest valued home in the neighborhood, you'd be better off moving into a neighborhood where you can purchase one of the lowest valued homes.
· What about the children? Most times, when kids practically grow up in a home, many strong friendships are made. Think about how moving can affect your kids. Starting over in a new neighborhood and a new school can be life changing for children. In this case, remodeling your home could be the better option.
Bottom line, when trying to figure out if you should remodel you Orlando home or sell, take your time. You should exhaust every possibility to ensure you make the right choice for you.
Wednesday, June 3, 2009
6 Steps to Prevent Orlando Foreclosures
The thought of losing your home due to foreclosure can be a devastating experience. If you've been late on payments or missed them altogether, foreclosure could be in your future. However, it doesn't have to be. There are varieties of steps you can take to prevent Orlando foreclosures.
- Contact your lender
In order to sort out the situation, you need to involve your lender as soon as possible so you can figure out the next plan of action and keep your home. - Set up a repayment plan
Usually, repaying your missed payments is the start of fixing the problem; that's why contacting the lender is so important. Depending on what you work out, your repayment costs may only be a little bit more than the cost of your current mortgage. - Try to get forbearance
Depending on your specific situation, you may be able to put your loan in forbearance. This means, you could be allowed to make smaller payments or you could be free from payments altogether for about a year. - Modify your loan
This is also known as a loan modification. The plan involves reducing your interest rate, resulting in cheaper payments. This can help you get back on track and avoid Orlando foreclosures. - Refinance
Refinancing your loan could also result in a lower interest rate, therefore, helping you keep you home. For example, if you have an adjustable rate mortgage that keeps going up each year, refinancing to a fixed-rate loan would be tremendously helpful. - Sell your home
Although this option is not ideal, it is better than foreclosure. When you sell your home, you have the chance to keep your credit score intact.
There are never any perfect choices when facing foreclosure. But before you think all is lost, examine your options.
If you need to sell your home as quickly as possible, give us a call at 407-876-5771. We have a proven track record for selling homes faster than the average Orlando real estate agent.
Wednesday, May 27, 2009
Foreclosures - Defaults Rates may Reach 75%
A central tenet of Washington economic policy for the past three years has been that the key to ending the recession is stopping mortgage foreclosures, whatever the cost. Well, another new study shows that mortgage-servicing companies are having a terrible time of it, not least because the mortgages are continuing to sour at a rate nearly as fast as they can be modified.
Yesterday's Journal reports that Fitch Ratings looked at mortgages bundled into securities between 2005 and 2007 and managed by some 30 mortgage companies. Fitch found that a conservative projection was that between 65% and 75% of modified subprime loans will fall delinquent by 60 days or more within 12 months of having been modified to keep the borrowers in their homes. This is an even worse result than previous reports by federal regulators. Even loans whose principal was reduced by as much as 20% were still redefaulting in a range of 30% to 40% after 12 months.
The reasons for the high redefault rate aren't surprising. Many of the borrowers never could afford these homes in the first place, yet the political pressure has been strong to modify loans even for these borrowers. As home prices continue to fall in some markets, borrowers remain underwater and many of them simply walk away from the home and thus redefault.
This study has to come as a blow to the Federal Deposit Insurance Corporation, which has invested a great deal of political capital in the modification thesis. It also means that to the extent that public money has guaranteed any of these loan modifications, the taxpayer will be an even bigger loser. Banks don't like to foreclose on borrowers, so the best public policy was always voluntary renegotiation. As for the housing market, the quickest way to begin a recovery is to more quickly let prices find a bottom. On the evidence so far, the mortgage modification fervor has been a giant political exercise with little impact on housing prices.
Source: Opinion Journal Forum
Yesterday's Journal reports that Fitch Ratings looked at mortgages bundled into securities between 2005 and 2007 and managed by some 30 mortgage companies. Fitch found that a conservative projection was that between 65% and 75% of modified subprime loans will fall delinquent by 60 days or more within 12 months of having been modified to keep the borrowers in their homes. This is an even worse result than previous reports by federal regulators. Even loans whose principal was reduced by as much as 20% were still redefaulting in a range of 30% to 40% after 12 months.
The reasons for the high redefault rate aren't surprising. Many of the borrowers never could afford these homes in the first place, yet the political pressure has been strong to modify loans even for these borrowers. As home prices continue to fall in some markets, borrowers remain underwater and many of them simply walk away from the home and thus redefault.
This study has to come as a blow to the Federal Deposit Insurance Corporation, which has invested a great deal of political capital in the modification thesis. It also means that to the extent that public money has guaranteed any of these loan modifications, the taxpayer will be an even bigger loser. Banks don't like to foreclose on borrowers, so the best public policy was always voluntary renegotiation. As for the housing market, the quickest way to begin a recovery is to more quickly let prices find a bottom. On the evidence so far, the mortgage modification fervor has been a giant political exercise with little impact on housing prices.
Source: Opinion Journal Forum
Friday, May 15, 2009
Orlando Foreclosures and Short Sales
Today in our country, more homes are being foreclosed on and more people seem to be out of work or looking for a job. However tough things are or get us can help you stay out of foreclosure and save your credit. We also can help you capitalize on and investment opportunity of a lifetime. Florida is one of the top three states that have the highest foreclosure rates in our country. The Orlando area has not been spared from the downward spiral our country is currently in. For the first time in many years, even visitors to Disney are dropping as more people world wide wait to see our countries next move.
Now for the good news. Orlando has produced some beautiful majestic looking and feeling homes in the past several years and with all the economic struggles out there we now have many of those same homes in foreclosure. How is that a good thing, you may ask? We can offer you now a home that may have sold 3 years ago for $300K for less than $150K now. Now here is the catch, because you knew it was coming. The market is down, way down. You are buying a foreclosure for less than half the original price, however for the next few months it may not gain any value, bad news right. Now listen to this part; did you realize that the home that you could get for half price will most likely double or triple in value over the next 5 to 10 years? That’s right the economy will not stay in this depressing low forever. Orlando was and still is one of the greatest cities to live in the world so now we have you an investment with the opportunity to grow.
Better news for you is that we also are at some all time low interest rates on mortgages. So over the next few years as you make improvements and sit on that house, your investment grows fast and since you most likely have locked a 5% or lower rate your payments have been small. We like to pride ourselves in getting the customer with one of our agents that best matches them. We make sure that the focus of our team is on you the buyer or seller if you are selling. We make the transactions easy and fast and we are with you throughout the whole process. We want the Orlando area to be the biggest and best as we crawl out of this funk we are in and we want to say we went from top 3 in foreclosures to top three in home sales. Let us make your investment work for you.
Wednesday, May 13, 2009
New website of interest - Florida Short Sale Agents .com
Florida short sales can help people, who are behind on their mortgage payments, can no longer afford their homes, but want to avoid foreclosure regardless of good or bad credit. We service the South Florida tri county (Broward, Miami-Dade, & Palm Beach) metro areas like Miami short sale - Fort Lauderdale short sale & Palm Beach Short Sale.
New South Florida Real Estate website of interest - Florida Realty Agents .com
Provides services to home buyers and sellers in Southeast Florida, including FREE MLS (multiple listing service) search, new construction homes, preconstruction property, foreclosures, short sale and bank owned REO property in South FL. They are experienced real estate agents and real estate brokers that can represent you in the buying process as a buyers agent or help you in selling a home in (Broward, Miami-Dade & Palm Beach) county.
Wednesday, May 6, 2009
Ask the Real Estate Professionals of Orlando
Do you have questions concerning the sale of your current home, the purchase of a new home, foreclosure or short sale programs, or just need some professional real estate advice for the Orlando area? Well, take comfort in asking the real estate professionals of Orlando who have the knowledge you need when it comes to real estateand the experience you desire in a real estate agent. Working side by side with an experienced Orlando realtor can mean the difference between the joys of purchasing a home or the costly effects of real estate transactions that have gone wrong. Make sure you are secure from any real estate misfortune and work with the real estate professionals of Orlando who have the knowledge required in conducting top-quality real estate affairs.
Whether you want to invest in foreclosures, homes in short sale programs or you're just looking for a wonderful bargain in the real estate world, you can find just what fits your desires when you work with the real estate professionals of Orlando. You will have the latest properties available to you as they are listed in the market as well as the latest information on the hottest real estate areas. Enjoy knowing that you will not miss out on the latest real estate that comes available when you rely on the professionals who have been serving Orlando’s real estate needs for years. When you work with the experience provided with the top-quality real estate professionals, you will be sure to have a joyful and exciting experience.
Even if you have found yourself in the middle of a foreclosure or you have fallen victim to the struggling economy and can no longer afford your current home, you can count on the professional team of realtors serving your Orlando area to guide you in the best route for selling your home and protecting your credit. A vast population has found themselves in the middle of a horror story when it comes to losing their homes; however, you can protect yourself from the same nightmares by working with a real estate company that offers you the care and knowledge you need when financial distress hits your family. Although you are having to sell your home, your real estate needs and concerns rest in the hands of professionals who treat your real estate needs as if they were their own. Put an end to the sleepless nights and the stress of worrying about your real estate adventures and take comfort in the fact that you are working side by side with the professional real estate team of Orlando that cares about your real estate future.
Thursday, April 23, 2009
Outstanding Property in Orlando, Florida
One of the greatest appeals to living in Orlando is the ability to purchase the perfect property plus the ability to live so close to many attractions and family entertainment. Orlando, Florida, has much to offer. Known for its theme parks, Orlando is the home to Walt Disney World, Epcot Center, Universal Studios, MGM Studios and much, much more. All of these attractions are most appealing to families and offer year-round fun and entertainment.
In addition to the family attractions, Orlando offers excellent and upscale golf courses, a happening night life, plenty of shopping, and many cultural events. Whatever the reason, there is great appeal to finding property in sunny Orlando. Plus, Orlando’s central location means it is in driving distance of many of Florida’s other attractions like St. Augustine, the Kennedy Space Center, Busch Gardens, the gulf coast and more. There is so much to see and do in America’s sunshine state that living in Orlando will mean never a dull moment.
There are many choices for property in Orlando. One may choose a high-rise condominium for the luxuries and pleasure of a modern and upscale way of life. Or one may choose a Caribbean-style townhome for a mix of modern-day luxuries and fun themed living. Beautiful estate-style homes are available for purchase or lease for a more private and secluded way of life. From upper scale and modern, to relaxing and secluded, there are plenty of choices when it comes to property available in Orlando. No matter what, a choice to purchase property in Orlando is going to be a choice to be enjoyed for many years to come, and it will be an investment you will not regret. A perfect spot for a vacation home or for full time living, living in Orlando means having access to a wide variety of dining experiences, being able to enjoy Orlando’s many entertainment venues, and enjoying a relaxing life full of family fun and stress-free enjoyment.
Tuesday, April 21, 2009
Orlando, Florida -- Home Sweet Home
Orlando, Florida, is a growing city in both the commercial and residential markets. Real estate in the area can come at a premium, and there are many communities in Orlando that offer positives and negatives. If you are considering purchasing real estate in Orlando, here are some of the best communities to choose and why they are so good:
If condominiums are your style, and you would like to purchase one in a good community in Orlando, here are a couple of options. Vista Cay Luxury Condominiums are a small luxury community of condos built right in the center of all of the Orlando action. If you and your family enjoy the area’s most well known attractions, then Vista Cay, located right on Universal Boulevard, would be the perfect choice. Bella Plaza is another community of condos, and it offers hard to beat upgrades and luxury. The condos are available with two to four bedrooms, and every unit has all the upgrades available.
For the golfer looking for an Orlando location that will offer plenty of golfing experience, there are several communities just for you. Reunion Resort has three golf courses, all designed by pros, but the amenities do not stop there. For the whole family, the resort offers a huge water park, tennis courts, horseback riding, and more. Bella Trae is a community that will offer luxury and safety. This gated community is guarded 24/7 and offers many amenities, plus, it is located next to Greg Norman’s golf center.
Cane Island has much to offer any visitor, including a spa, a swimming pool, a fitness center, a game room, and more. The whole location is centered around a beautiful pond and fountain. Prairie Reserve is a community of townhomes that offers the convenience of being right near shopping, dining and entertainment. It is the perfect location for the family on the go. For those looking for a little peace in a busy life, WaterSong can be just the answer. This area with private homes, offers a feel of getting back to nature. But, it is not short on amenities, offering a swimming pool, a spa, a volleyball court, a cyber café and much, much more.
No matter the reason for which one is looking at real estate in Orlando, there are plenty of location and community. This guarantees that each homebuyer will find exactly what they are looking for in their new property. With a little research, the perfect home will be found.
Monday, March 23, 2009
What You Should Know About an Orlando Short Sale
You can stop a foreclosure and save your credit if you know how an Orlando Short Sale works. An Orlando Short Sale will help homeowners who have fallen behind on their mortgage payments and can help avoid the uncertainty faced by an impending foreclosure. Through an Orlando Short Sale, you can save your home, protect your assets and all of this can happen no matter what type of credit rating you have, good or bad. With the help and guidance of a qualified short sale specialist and you can negotiate your terms with the lender and not risk having your home face foreclosure.
Maybe we should being by explaining what an Orlando short sale actually is. A short sale is actually an agreement that is pre-foreclosure, whereby the lender agrees to allow an owner the discretion to sell the property for less than the amount of a current mortgage value. Each year more than 10 million people need help and with an Orlando Short Sale, you can still save your credit and not lose your shirt in the process.
Many people, through no fault on their part, face the reality of real estate distress. An Orlando Short Sale is a viable option for those people who currently owe more money on property than its currently worth or who have no equity in the property. With the help of an Orlando Real Estate agent, they can negotiate with your lender and help you gain approval for an Orlando Short Sale. Their assistance can even help you with getting the lender to pay the sales costs, escrow fees, title fees and sales commissions, which means more savings to you.
In the economy of today, it is a sad and unfortunate fact that many people are facing bank foreclosure on their homes or property. This doesn't have to become a reality for those who know about the advantages of an Orlando Short Sale. These same people could stop the foreclosure and as a result, not impair or damage their credit in the process. Having the all the options explained in depth and outlined prior to making any hasty decisions and the help of an Orlando Real Estate agent, can make a real difference when it comes time to making a serious decision regarding your Orlando Real Estate. Before you make any definite decisions about your real estate you should give serious thought to how you can benefit of an Orlando Short Sale.
Maybe we should being by explaining what an Orlando short sale actually is. A short sale is actually an agreement that is pre-foreclosure, whereby the lender agrees to allow an owner the discretion to sell the property for less than the amount of a current mortgage value. Each year more than 10 million people need help and with an Orlando Short Sale, you can still save your credit and not lose your shirt in the process.
Many people, through no fault on their part, face the reality of real estate distress. An Orlando Short Sale is a viable option for those people who currently owe more money on property than its currently worth or who have no equity in the property. With the help of an Orlando Real Estate agent, they can negotiate with your lender and help you gain approval for an Orlando Short Sale. Their assistance can even help you with getting the lender to pay the sales costs, escrow fees, title fees and sales commissions, which means more savings to you.
In the economy of today, it is a sad and unfortunate fact that many people are facing bank foreclosure on their homes or property. This doesn't have to become a reality for those who know about the advantages of an Orlando Short Sale. These same people could stop the foreclosure and as a result, not impair or damage their credit in the process. Having the all the options explained in depth and outlined prior to making any hasty decisions and the help of an Orlando Real Estate agent, can make a real difference when it comes time to making a serious decision regarding your Orlando Real Estate. Before you make any definite decisions about your real estate you should give serious thought to how you can benefit of an Orlando Short Sale.
Saturday, March 14, 2009
Recommended Toronro Real Estate Listings Website
Here is a great Toronto Real Estate Listings website we highly recommend.
http://www.torontorealestatedirect.com
http://www.torontorealestatedirect.com
Friday, March 13, 2009
Purchasing an Orlando Short List Home
When you comb the market and see all the Orlando Real Estate available on the market, you probably know your price range, type and style of home you seek, the amount of room you need and the neighborhood and school system in prospective communities. Before you make a commitment to buying the first house that you come across, have you given any thoughts about checking into Orlando Short Sale homes?
You should contact Orlando Real Estate Agents and do a search about all the short sale listings available on the market. There are many important things you need to know about buying an Orlando Short Sale home and with the help of a Realtor, you will find out everything you need to know.
Most of the Orlando Short Sale homes are priced considerably lower than other homes on the market. With the prices being so low on Orlando Short Sale homes, these listings receive a multitude of offers and sometimes a seller's bank will not consider a lowball offer. If you cannot offer a price that is comparable to current market prices, then it will not work to your advantage.
You need to consult with an Orlando Buyers agent and find out how much money is owed on the current mortgage and how many loans are recorded. If an agent is experienced dealing with Orlando Short Sale homes, they can tell you which lenders are the best to work with.
To purchase an Orlando Short Sale home, you must be prepared to offer sometimes more than 30%, or your offer will likely never be considered. You need to take into consideration the track record of the listing agent and one who is advertising an Orlando Short Sale, should be well versed in the process and information.
There can be homes that are priced well below market value. When an Orlando Short Sale home first comes on the market, the first offers received are usually priced a bit below the asking price. The second batch of offers on an Orlando Short Sale home are likely to be at the list price, while the third and fourth round of offers are probably be a few thousand above the listing price.
With the assistance of an Orlando Real Estate agent, you can find the ideal home to suit all your needs. You can negotiate a price that is workable and stay within your budget and still be able to purchase the home of your dreams for a reasonable price.
You should contact Orlando Real Estate Agents and do a search about all the short sale listings available on the market. There are many important things you need to know about buying an Orlando Short Sale home and with the help of a Realtor, you will find out everything you need to know.
Most of the Orlando Short Sale homes are priced considerably lower than other homes on the market. With the prices being so low on Orlando Short Sale homes, these listings receive a multitude of offers and sometimes a seller's bank will not consider a lowball offer. If you cannot offer a price that is comparable to current market prices, then it will not work to your advantage.
You need to consult with an Orlando Buyers agent and find out how much money is owed on the current mortgage and how many loans are recorded. If an agent is experienced dealing with Orlando Short Sale homes, they can tell you which lenders are the best to work with.
To purchase an Orlando Short Sale home, you must be prepared to offer sometimes more than 30%, or your offer will likely never be considered. You need to take into consideration the track record of the listing agent and one who is advertising an Orlando Short Sale, should be well versed in the process and information.
There can be homes that are priced well below market value. When an Orlando Short Sale home first comes on the market, the first offers received are usually priced a bit below the asking price. The second batch of offers on an Orlando Short Sale home are likely to be at the list price, while the third and fourth round of offers are probably be a few thousand above the listing price.
With the assistance of an Orlando Real Estate agent, you can find the ideal home to suit all your needs. You can negotiate a price that is workable and stay within your budget and still be able to purchase the home of your dreams for a reasonable price.
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