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
Friday, July 31, 2009
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.
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