Orlando Short Sales and Foreclosure Info

Re-laminate Your Orlanod Home’s Countertops

2010-11-01T09:02:00.000-07:00

If you want to freshen up your Orlando home’s kitchen, redoing the countertops might be a good choice. It’s quick and easy to install new laminate, and you’ll have almost limitless styles to choose from. Here’s how to install new laminate on your kitchen countertop:

Measure Countertop
Measure your existing countertop in your Orlando home’s kitchen and total the results. Add a few inches to the side and bottom measurements to give you a little wiggle room. You’ll need to buy contact cement, a putty knife and a utility knife at the home improvement store at the same time as the laminate.

Prepare the Area
First, you’ll have to remove the old laminate. Leftover laminate and adhesives can make it hard for the new laminate to properly attach to the countertop. Use a three to four inch putty knife to scrape off the old laminate.

After you’ve removed it all, sand the surface underneath to make sure that any left over adhesive has been completely removed. Work carefully from one end of the counter to the other and double check your work. Then wipe the area down with a clean cloth and dry it.

Cut the Laminate and Apply the Cement
Next, you’ll measure and cut the new laminate to the correct size with the utility knife. Apply the contact cement to the edge of the countertop and press the laminate into place. Then spread the cement on top of the counter, and press down evenly on the laminate to properly adhere it to the surface.

Go over the entire counter again with equal pressure to seal the contact cement. Trim the excess laminate with the utility knife. Then clean the work area with a damp cloth.

You’ll be able to use the countertop shortly after the contact cement dries. Re-doing the laminate can breathe new life into your Orlando home’s kitchen without emptying your wallet.

Orlando Home Buyer News – Foreclosures Halted Nationwide?

2010-11-01T08:58:00.000-07:00

As a potential buyer of an Orlando home, you may be looking at foreclosures as a way to get a good home at a great price. The Saga of the Housing Bubble continues, however, and it might just have you, the homebuyer, looking at regular housing with a more favorable eye.

In October, numerous mortgage services voluntarily suspended foreclosures nationwide, including Bank of America, J.P. Morgan Chase, Litton Loan Servicing and GMAC Mortgage/Ally Financial. The suspensions include pending foreclosures as well as foreclosure sales, as the mortgage services investigate flaws in their foreclosure processes. For those of you looking at a foreclosed Orlando home through one of these companies, it may be a long wait.

Twenty-three states initiated a foreclosure moratorium. In addition, they have begun probing all lenders’ foreclosure processes in those states. Thanks to nationwide, coordinated efforts of State Attorneys General, 17 more states as well as 17 non-judicial foreclosure states have expressed interest in joining the probes. In short, a foreclosure freeze “craze” has begun, upsetting real estate investors and homebuyers alike.

In general, this craze isn’t expected to last long. As well, the lenders don’t expect to find many problems because most foreclosures are believed legitimate. In short, it seems to be simply a matter of improperly reviewed and improperly handled foreclosure documents. Although it’s only expected to last a few weeks, some buyers are left sitting with an offer on the table and no closing.

With the foreclosure processes in question and sales halted, buying a foreclosed Orlando home may not be as ideal as you think – at least for a little while. Don’t give up hope on owning your own home, however. Instead, take a few minutes to look over the other homes for sale. Your dream home and great deal may not be a foreclosure after all!

If you’re looking for a beautiful home of your own, we can help. Call us at 407-876-5771 for more information.

Foreclosures in Orlando: A Great Investment or Bad Disaster?

2010-10-01T06:17:00.000-07:00

With all the talk of the great deals you can get on foreclosures in Orlando, you may be tempted to step into the investment market. Or, you may get the idea that buying a foreclosure is your best bet for a great deal on a home. Well, it’s possible, but remember that the foreclosure market is full of perilous pathways and competitive investment pros who know what they’re doing.

Whether you’re considering purchasing foreclosures in Orlanod as investments or as your personal residence, here are a few tips that will help you get a great investment and avoid a bad disaster.

• Gather a Team of Professionals: Your team of professionals should include a home inspector, a real estate agent and an appraiser. You may also want to include a professional repairman, if you’re not handy. With foreclosures, you often have to be ready to move on the home immediately, so establish relationships with these professionals ahead of time.

• Buy a Pre-foreclosure: According to the experts, pre-foreclosure is one of the best times to buy. The seller will probably be more willing to accommodate you because they want to avoid ruining their credit. Which means you’ll have a much better chance of getting a good deal – something more than the seller owes the bank, but less than market value.

• Skip the Auction: While going to foreclosure auctions is another possibility, it isn’t for the beginning investor. You may find that you’ve done a whole bunch of research for nothing, because the auction was cancelled. You may end up with a trashed property because the previous owners didn’t want to move, or because the house has been empty for a long while.

• Be Careful Buying Bank-Owned Properties: This option is seldom as great as it sounds. Not all banks price homes at fair market value. Many of them are trying to get their money back, which, with current depreciation, could be much more than the home is currently worth.

If you’re considering buying foreclosures in Orlando as an investor or a homebuyer, we can help. Call us today at 407-876-5771 for more information.

Slow Markets and Orlando Homes

2010-09-01T06:58:00.000-07:00

Today’s slow real estate market is a hard place to sell Orlando homes. However, the fact remains that homes are still being bought and sold. Buyers are out there; you just have to attract them to your home.

Here are a few tips for getting Orlando homes sold in a slow real estate market:

Prepare for the Sale
Your home needs to stand out from the rest. Give it a lot of sparkle and shine:

• Make minor repairs: Patch holes, fix faucets and replace cracked tiles.
• Clean inside and out: No cobwebs, dirty carpets, worn rugs or smelly odors.
• Check your curb appeal: Mow the lawn, plant flowers, trim bushes, etc.
• Remove clutter and de-personalize: If it isn’t essential, pack it up or get rid of it.
• Straighten your cabinets and closets: Buyers will open them; make sure they’re nice and neat.

Stage Your Home
Hire a professional home stager or read informational home staging articles on doing it yourself. Here are a few quick tips:

• Carefully choose your window coverings.
• Tie new bathroom towels with ribbons for a “finished” bathroom look.
• Use color psychology.
• Bring in plants.

Use Good Marketing Techniques
A strong marketing campaign is a must. A few techniques you want to be sure you or your agent includes in your marketing campaign are:

• Take photographs with good lighting that show off the positive aspects of your home.
• Create a virtual tour that showcases both the inside and outside of your home.
• Display the photos and virtual tour on as many real estate websites as possible.

Selling Orlando homes isn’t a quick or easy endeavor. Especially now, aggressive marketers are the winners. Taking the time to clean and stage your home, as well as create a wide-reaching marketing campaign, can get that for sale sign taken down for good.

If you’d like to sell your home, let us create a strong, wide-reaching marketing campaign to get your home sold. Give us a call today at 407-876-5771.

Should You Buy Orlando Real Estate Through an Auction?

2010-09-01T06:54:00.000-07:00

With the many auctions here and throughout the U.S., you may be wondering if it’s worth buying Orlando real estate this way. Auctions let you bid at a public sale. Some property is being sold by the owner, but most properties are foreclosures being sold by banks.

Like any endeavor, there are pros and cons in buying Orlando real estate at an auction. For instance, a pro for auctions might be the price; you can often get great discounts on nice homes through an auction. However, you may get caught up in the fervor of the bidding process and pay more for a home than you ever intended.

The Condition of the Home may be Questionable
When you work with a real estate agent to buy a home in the traditional manner, you go through the home inspection process. This ensures the home is in sound structural condition.

In an auction, you have to go with the timeframe of the bidding process and most likely will not have time to get a home inspection performed. In fact, homes sold at auction are sold “as is.” That means no improvements will be made to the home, even if you had it inspected and found something wrong. Additionally, there’s no warranty and no legal recourse to get your money back if you find problems later.

Tax liens can be Costly
In foreclosure auctions, a property may have a tax lien. If you win the auction, you may then become responsible for the payment of the tax lien. It could be a small or large amount of money, but no matter the size, you may not be able to afford it on top of the cost of the house.

Large Payments in Short Timeframes
Lastly, consider that full payment may be required at the close of the sale; if not full payment, earnest money will at least be required. Because closing usually happens within a month of the auction, it’s always best to be pre-approved for your loan before you start bidding.

If you’re looking at Orlando real estate auctions for your dream home, do your homework first. You could end up with a fantastic deal, but, without enough information, you could also end up with a dead end.

If you’re looking for a great deal on a wonderful home, we can help. Call us today at 407-876-5771 for more information.

How Buying Orlando Real Estate is Like Running a Marathon

2010-08-01T09:33:00.000-07:00

It's true. There are a lot of parallels between buying a piece of Orlando real estate and running a marathon.

The Starting Line

At first, there is excitement. The idea of buying a new home pulses in your veins and you can't wait to get started. You're like a runner in the blocks just itching to begin. Your muscles twitch in anticipation with every piece of Orlando real estate you see. That's when the real adrenaline rush kicks in.

Start Out Slowly

Keep to a steady, consistent pace and you’ll make it to the finish line. There's so much to do before you can get your Orlando real estate. Home appraisals, inspections and financing to apply for…

You start to think about all the 'what ifs,' like what if you don't get the financing, what if something goes wrong, what if… goes on forever.

Stay Mentally Tough

Don't give into periods of self-doubt. Remember all that you’ve done and have faith in yourself and your real estate agent. Think about how hard you’ve worked and how rewarding it will be when you’re in your new home.

Hit the Wall

You feel like you simply can't go on any more and the ordeal is never going to end. Your mind hurts from the strain, but you keep pushing onward because it’s the only direction you can go after coming so far. Remind yourself that you'll get past this feeling. Keep day dreaming about that finish line.

Breakthrough Bliss

Suddenly things begin to happen. Home inspection reports come back. Financing is approved. You begin to breathe easier, the pain goes away, and you are sailing free and clear toward the finish line.

The Finish Line

You sign all the papers at closing and the keys are placed in your hand. Congratulations! You’re a winner.

When you’re ready to buy a home, we can help you from start to finish. Contact us today at 407-876-5771.

Orlando Home Warranty FAQ

2010-08-01T09:29:00.000-07:00

In today’s real estate market, it’s helpful when homeowners add incentives to sell their Orlando homes. Incentives may include paying a portion of the buyer’s closing costs, reducing the sale price or offering a home warranty.

Many sellers and buyers are unaware of the advantages of home warranties, so below are answers to some frequently asked questions about home warranties:

• What is a home warranty? A home warranty is a policy that covers the repair or replacement of home systems and appliances. They are typically annual policies that can be renewed and usually cost between $250 and $500.

• Who pays for a home warranty? Either the seller or the buyer can pay for the home warranty, but sellers usually cover the cost as an incentive for selling their Orlando home. Sometimes real estate agents offer home warranties as a closing gift.

• What is covered? This will depend on the terms of your warranty. Most warranties cover the air conditioner, dishwasher, furnace or heating system, water heater, ductwork, garbage disposal, inside plumbing, electrical systems, range and oven, and telephone wiring. Check with your home warranty for your specific coverage.

• What is not covered? Again, this will depend on the terms of your warranty. However, most warranties do not cover outdoor sprinklers, certain faucet repairs, refrigerators, washers and dryers, garage door openers, spas, and pools. Check with your home warranty for your specific coverage.

• How do I file a claim? If you have to file a claim, contact your home warranty company. They will call a service provider who will set up an appointment. You will have to pay a small service fee that is usually less than $100.

Want to buy an Orlando home that comes with a warranty? We can help. Call us today at 407-876-5771.

I’ll Sell My Own Orlando Real Estate, Thanks

2010-07-01T11:11:00.000-07:00

As I’m sure you know, the real estate industry is in a down market, and the last thing you want to do is pay commission to an Orlando real estate agent. Not to mention that you’re almost positive you can sell your home just fine on your own. Before sticking a “For Sale by Owner” sign up, however, make sure you’re ready for the work and headaches.

• Time. Yes, you can sell your Orlando real estate on your own without the help of an agent, but it takes a lot of preparation and time. How much is your time worth and how much time do you have? Before you step out on your own, make sure you can afford the time and energy investment.

• Extra services for better value. You’ll lose out on a wide variety of services offered by real estate agents. For example, many agents now provide home staging services as well as extensive advertising and marketing services both online and off.

• Dealing with the legalities. Selling a home involves contracts, closings and a multitude of legal issues that can make or break a sale. Real estate transactions have occasionally led to outcomes that were unexpected, including lawsuits. A professional helps ensure that the contracts are legally sound and binding.

• Knowing the market. Real estate agents have instant access to current market information. We can find an accurate selling range within minutes. Since the real estate market constantly fluctuates, it’s important to know what area homes sell for before pricing your own. Otherwise, your risk underselling or overpricing your home.

These are just a few points. You also need exposure to buyers, experience with legal contracts and excellent negotiating skills. Can you sell your own Orlando real estate? Yes, but can you really afford to?

If you’re trying to sell your home and need professional expertise, we can help. Call us at 407-876-5771 for more information.

How to Set a Kitchen Renovation Budget on Orlando Homes

2010-07-01T11:06:00.000-07:00

There are many Orlando homes currently for sale. An obvious question you must ask yourself in today’s market is how to make your home stand out.

Whether you’re a real estate investor wanting to flip several Orlando homes or a homeowner selling your current home, one of the top ways to increase your home’s value is remodeling the kitchen. The kitchen is the central meeting place of the American family and people want it to be modern and up to date.

Do a Price Comparison among Orlando Homes

Your renovation budget is one of the primary concerns to take into account before you begin. The current value of your home, as compared to other homes in your neighborhood, is one way to determine how much you should spend on your kitchen renovation.

• Higher Price Range = Lower Budget Needed. Is your home worth about the same or more than most homes in your neighborhood? This indicates a diminished chance of selling for much more, even after enhancements. Stick with a moderate budget. This may seem contrary to instinct but it’s true.

• Lower Price Range = Higher Budget Needed. On the other hand, if your home is appraising lower than those in the area (or is decidedly on the lower end of the scale) investing more in excellent kitchen remodeling is a great way to increase the value of your home.

Overspending Yields Lower Rate of Return

Investing too much on one aspect of your home (especially a home that's already approaching the price ceiling for the area) is a potential money burner. Keep a moderate budget, and if you have more money to spend, invest it in other areas of your home (exterior improvements, for example).

Perception Is Reality

Once you decide on a budget, remember that appearance is everything. Faux marble, for instance, looks about as nice as marble. The only reason for genuine marble or solid oak is bragging rights. A new faucet on a moderately up-to-date sink is almost as impressive visually as a totally new sink.

“Do one thing… And do it well,” applies here. If you must add luxury, add it to one element and cover the rest with perception strategies.

If you’d like additional advice on the home improvements that are most likely to increase the value of your home, we would be happy to help. Call us today at 407-876-5771.

Is Your Orlando Home Making You Sick?

2010-06-04T20:52:00.000-07:00

Unexplained headaches and nausea, getting sick more often than normal, showing signs of allergies that have never been there before – your Orlando home may be making you sick.

How do you find out if your Orlando home is making you sick? Look for individual sources of pollution:

• Tobacco smoke – If you’re a smoker, smoke outside. Sitting in a cloud can cause dizziness, nausea and other side effects. These problems are especially harsh if you’re a non-smoker in a home full of smoke. As well, the smoke settles into fabrics and on walls and ceilings for the carcinogens to be released into the air on a regular basis.

• Radon – Because radon is odorless and invisible, the best way to find out if you have a problem is to have a radon test done on your home. The U.S. Surgeon General and EPA recommend that all homes be tested.

• Asbestos – Pretty much everyone knows that asbestos is a health hazard, but you may not think it’s in your house. If it was built between 1920 and 1978, however, there’s a high possibility. If there’s asbestos in your house, hire a specially trained, licensed contractor to remove it.

• Pesticides – If you have a problem with bugs and use pesticides, you may have a problem with pesticides as well. Many chemical pesticide manufacturers are producing natural pesticide solutions and putting them on the shelves. Symptoms from pesticides include feeling light-headed, dizzy or nauseous. If you have those, switch to a natural pesticide.

• Mold/mildew – Mold and mildew is a common cause for asthma, allergies and other respiratory problems. A long-term cough, difficulty breathing and excessive morning phlegm may point to mold spores in the air. Have a professional scan your house for mold. It may be expensive to take care of, depending on the size of the problem, but you’ll have a lot less doctor visits and feel better.

Other issues may be damaging the indoor air quality of your Orlando home. If you want to make your house healthier, visit the EPA website for more information.

If you’re looking for a healthy home to buy, we can help. Call us at 407-876-5771 for more information.

Industry Changes to Help Sell Your Orlando Real Estate

2010-06-04T20:49:00.000-07:00

Like most industries, the Orlando real estate industry changes with the times. We still have the same mind-set, but the strategies we use differ from, say, before the internet. As the Orlando real estate industry improves with the use of online and mobile tools, “change” translates to a better result on the sale of your home.

Changes to the Real Estate Industry
Due to uncertain lending practices and unregulated appraisal services, the real estate game needed to change. The National Association of Realtors® pushed for change, appraisers pushed for change, the government pushed for change and, of course (it’s the government, after all), change happened.

The government mandated new regulations for lending practices. They poured tax incentives into the economy and, simply by chain of reaction, changed the real estate industry.

What This Means to You
This isn’t bad news. In fact, it’s rather good news. The emphasis on education, a new code of ethics and advanced technology is a boon to today’s Orlando real estate market and you, as the home seller. Why? Because you have a broader reach than ever before. As well, we, the successful agents, must keep our competitive edge on any lending, marketing and technical advantages and turn that edge into advantages for you.

The focus of the new-age real estate agent is on - not just one or two things - but on everything and anything that can bring buyers to your home.

Today’s Orlando real estate agents evaluate, market, create strategies, work with technology and are in constant contact with hundreds of potential buyers. We know you need expert representation to sell your home. You expect it, and we provide it.

When you’re ready to sell your home, call us at 407-876-5771 for expert representation you can rely on.

The Home Inspection and Your Orlando Home for Sale

2010-05-07T09:09:00.000-07:00

The home inspection is one of the most important considerations that can directly impact your Orlando home for sale.

According to the National Association of REALTORS®, 84 percent of all residential real estate transactions include a provision for home inspection. The purpose of this inspection is to provide an unbiased, analytical analysis of your Orlando home for sale. In a sense, this is the purchaser’s opportunity to avoid the “buyer beware” syndrome.

Because of the importance of the home inspection, as the seller, it’s an excellent idea to get your Orlando home for sale inspected before putting it on the market. That gives you a chance to fix any problems before potential buyers see your home.

How to Choose a Home Inspector

Not every state requires a home inspector to be licensed. Therefore, you need to do your homework before choosing a home inspector.

Well informed buyers and sellers usually ask for inspectors who are members of either the American Society of Home Inspectors or the National Association of Home Inspectors.

Additionally, before hiring a home inspector ask for:

• A description of the services to be provided: A typical home inspection should include a thorough and itemized written report detailing the home’s structural elements, an exterior evaluation, roofing, plumbing electrical and appliance testing. Outbuildings and garages can also be included in the inspection. Items such as insect and rodent infestation and radon inspections can also be performed.

• A list of references: Be sure to contact these references and ask what they thought of the home inspector and whether or not they’d use the inspector again.

Now What?

Okay. Now, the inspection is performed and you’ve received the written report. You have a couple of options to resolve any problems noted in the report:

1. You can fix the problems yourself.
2. You can hire someone to fix the problems.
3. You can reduce the sales price by the estimated cost to fix the problems.

While it’s ultimately your decision, a professional real estate agent can help you determine which option will get your home sold the fastest and for the highest profit.

If you’d like recommendations to the best home inspectors in Orlando, or want help getting your home sold, give us a call at 407-876-5771.

Buying Orlando Homes – Why You Might Not Want to Wait

2010-04-07T09:23:00.000-07:00

Surprising numbers of potential homebuyers are holding off on buying Orlando homes. They see the housing prices drop and are waiting for them to go lower. They see the mortgage rates and are waiting for them to drop further. If this is you, you might want to rethink your strategy and take a real look at potential Orlando homes.

Here are two crucial reasons why you might not want to wait any longer:

1. Interest Rates on the Rise - Thanks to the Federal Reserve buying $1.23 trillion worth of mortgages, interest rates have been kept somewhere between 4.93% and 5.09% for a 30-year fixed-rate loan. That’s about 0.4 % lower than it might be without the Fed’s help. However, by the end of 2009, the Federal Reserve had already started implementing a phase out of the mortgage program. With the Fed program closing at the beginning of this month, it’s not a question of whether mortgage rates will rise, but when, how much and how fast. The experts don’t expect them to climb very high, stopping somewhere between 5.5% and 6% by the end of 2010.

2. Lower Home Prices - Home prices, predicted to drop another 5% in 2010, will also make some difference in overall cost. Putting the falling home prices together with the currently low interest rates, you still have a chance to get a great home at a great deal – for a little while longer.

Instead of waiting for lower costs that may never come, consider where you are now:

• Do you have good credit?
• Are you pre-approved (not pre-qualified) for a mortgage loan?
• Do you know how much home you can afford?
• Are you certain (or as certain as you can be) of your job stability?

It’s very possible that the market will never be better than it is right now for buyers. It’s a buyers’ real estate market, with the scales tipped to make homeownership as cheap as it can get. If you can afford to buy now, but are waiting for things to get even better, reconsider – you might wait yourself into a market you can no longer afford!

Ready to take advantage of this buyers’ market and purchase one of the Orlando homes for sale? we can help. Call us today at 407-876-5771 for more information.

Introducing Buena Vista Development Services .com

2010-04-07T09:20:00.000-07:00

Buena Vista Development Services

BVDServices.com

BVDServices.com is headquartered in Orlando, Florida. It's owned and operated by a small group of seasoned entrepreneurs with decades of business and marketing experience. They specialize in business development, real estate marketing, business inovation, (SEO) search engine optimization, (SEM) search engine marketing, (SNM) social network marketing, lead conversion, lead generation and internet marketing.

Will Your Credit Stop You from Getting an Orlando Real Estate Loan?

2010-04-07T09:15:00.000-07:00

Good credit is more important than ever, if you want to get an Orlando real estate loan. Knowing what’s on your credit report and how lenders view various aspects of your report is crucial.

First Things First

Get a copy of your credit report from all three of the credit reporting companies: Equifax, Experian, and TransUnion. You are entitled to one free report every year from each of the three credit reporting companies. Whether you’re considering getting a loan or not, you should always take advantage of that opportunity to make sure your credit reports are accurate.

Range

FICO® scores range from 365 to 840. While the standards for what lenders consider a “good” FICO® score changes constantly and varies by lender, here’s a general breakdown of today’s standards:

• Over 750 is excellent and should get you the best terms and rates.
• Under 600 might get you an Orlando real estate loan, but you’ll want to shop for the lender who’ll give you the best rates and terms.
• Under 500, you need to brace yourself for waiting until you get your credit in better condition.

What Determines Your Score

There are many things that can affect your score. Magically (or not), each of the three companies tend to view things just a little differently, which means your score will not be the exact same for all three. That’s why it's so important to get copies of your report from all of them. However, the two main things that all companies consider in rating your credit score are delinquencies and debt-to-income ratio.

What You Can Do To Immediately Improve Your Score

• Check the entries: Make sure any debts or delinquencies listed are true. Report any errors.
• Pay off debts: But do not close accounts. Having available credit is good as long as it doesn't look like you’re over-extended by having your credit maxed out. The lender may worry that you’re living off your credit and can't afford your bills.

If you would like more tips on how to improve your chances of getting an Orlando real estate loan, we can help. Call us today at 407-876-5771 for more information.

Should You Consider a Short Sale on Your Orlando Home?

2010-03-08T18:35:00.000-08:00

A short sale happens when a lender agrees to accept less than the balance remaining on a home. It is a way for sellers to avoid foreclosure and sell their Orlando homes.

It seems like a good idea for people who owe more on their home than it’s worth, but that doesn’t mean it is right for everyone. Should you consider a short sale on your Orlando home?

Pros to doing a short sale:

• You will be able to sell your property, get out from under a mortgage you cannot afford and lower your debt.
• You can still sell your property in a declining real estate market, even if you owe more than the home is worth.
• Buyers sometimes get good deals on the property or may be able to buy a home at market value in a popular area they couldn't previously afford.
• While a short sale isn't ideal, it is typically better than a foreclosure which stays on your credit report for 10 years.
• If your home goes into foreclosure and is sold at auction for less than the mortgage, you can still be held responsible for making up the difference.

Cons to doing a short sale:

• The lender may refuse to do the short sale, or they may still hold you responsible for the remaining debt.
• The bank’s loss is considered taxable income for you, and you may have to pay taxes on the amount.
• Short sales do stay on your credit report and may make it difficult for you to a get loan in the future.
• You may have to find a real estate agent willing to work for a smaller commission.
• Short sales take longer to close than traditional home sales.

We can help you decide if a short sale on your Orlando home is right for you. Call us today at 407-876-5771 for more information about your selling options.

Buyer Beware: Worldwide, National, Orlando Homes and Scams

2010-03-08T18:30:00.000-08:00

Whether you’re looking at Orlando homes, homes across the nation or homes abroad, there's always the possibility of getting caught in a scam.

Many potential homebuyers and renters choose to go it alone and find the home of their dreams without professional help. While this method of house hunting works for some it definitely doesn’t work for all, and the consequences often far outweigh the benefits. Yes, the same can apply for home sellers as well!

Real Estate Scams
Here are a few real estate scams to watch out for:

• Down Payment Assistance Programs are wonderful gifts for potential buyers of Orlando homes. However, there are certain rules that have to be followed for this down payment gift to be legal. For instance, as a gift, the homebuyer doesn’t have to pay it back. Some unscrupulous companies offer Down Payment Assistance Programs but expect the money back. This isn’t a gift; it’s a loan, and illegal if the program is listed as “down payment assistance."

• Property flipping scams happen when a con artist buys a home and sells it as an investment opportunity with zero down payment, no closing costs, low interest rate, etc. Although it sounds like a great deal, it becomes a scam when the house is severely overpriced and the buyer pays way more than the house is worth.

• Craigslist is an excellent resource for those wanting to buy or sell something. However, it is also a great source for con artists, who have turned their eyes to the real estate market. The scammers take information from legitimate listings on other websites (such as REALTOR® websites) and post it as their own on Craigslist. They often mention that they had to move for some reason, but can still rent/sell the home. All the buyers or renters have to do is send them their personal information and the first month’s rent or down payment.

It’s easy to get caught up in the excitement and forget to protect yourself. Be cautious when looking for Orlando homes or selling them. Always check references and backgrounds. As well, if the home seller is in another country or another state, ask them if they’d be willing to use a local real estate agent. Then be sure to verify the agent’s credentials.

If you want to buy or sell a house and need a professional, we can help. Call us at 407-876-7551 for more information.

Buyer’s Guide to Your Orlando Home’s Appraisal Terms

2010-02-11T07:39:00.000-08:00

If you're getting a mortgage on a home, your lender will require an appraisal. This is performed by a licensed appraiser who evaluates your home and determines its value. Here is a guide to your Orlando home’s appraisal terms.

• Age: The actual age of your home is how long since your home has been built. The effective age is the adjusted age of your home based on improvements and repairs.
• Adjustments: Comparison Orlando homes are usually not exact replicas of your home. The appraiser will make adjustments for things like premium views or swimming pools to bring the home values closer together.
• Appraisal: This is the estimated value of your home based on the appraiser’s documentation.
• Comparison approach: A type of appraisal in which your home is compared with others in your area. Most appraisers use this approach because the market determines what your home will sell for.
• Cost approach: A type of appraisal in which your home is valued based on how much it would cost to replace it if it was destroyed. This is typically used on newer constructions.
• Depreciation: Depreciation is a loss in value due to age or condition.
• Easements: Your electric company or local government may have an easement, or right to use your land.
• Encroachments: When you or your neighbors have items like fences resting on each other’s property, it is called encroachment.
• Market value: This is the highest price you could expect to get for your home under normal circumstances.
• Remaining economic life: This is the time from the appraisal when improvements become useless or valueless.
• Subject property: Your property is called the subject property.

Let us help you through the process of buying your next Orlando home. Call us today at 407-876-5771 for more information.

High Orlando Foreclosures Equals Great Deals

2010-02-11T07:35:00.000-08:00

The extension of the homebuyer’s tax credit, as well as the expansion to include upgrade homebuyers, has a lot of people looking for their dream home. Many are looking for that dream home in the listings for Orlando foreclosures. Why?

The Law of Supply and Demand
Quick marketing lesson: every market is dependent on the law of supply and demand. When the demand for a product is higher than the supply, prices go up. When there’s more product than demand, prices go down.

This is what’s happening now, especially with Orlando foreclosures. Around the U.S., the supply of homes has doubled in the past two years, reaching as high as a ten-month supply. While homebuyers have been reluctant to buy a foreclosure in the past, people are starting to rethink the situation because:

• Foreclosures are usually less expensive than traditional homes for sale. In fact, some buyers have found their dream home and bought it for pennies on the dollar.

• Foreclosed properties are generally in better condition that they used to be. In the past, foreclosed homes had a higher than average amount of repairs needed compared to other homes for sale. This is no longer necessarily true. Many foreclosured homes have been lovingly taken care of by their previous owners.

• Potential buyers of foreclosures have a wider variety from which to choose. They aren’t stuck with just one type of house in one neighborhood. For the careful new homebuyer, the possibilities really are almost endless.

Most foreclosed homes aren’t money pits. To protect yourself, make sure your real estate agent includes in the contract that you want to have the home inspected, and that if the home inspection finds major problems, you then have the right to walk away from the deal.

If you’re looking for a great home at a great price, we can help. Call us at407-876-5771 for more information.

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2010-02-06T20:39:00.001-08:00

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Buy Your Valentine One of the Orlando Foreclosures

2010-01-05T06:45:00.000-08:00

Valentine’s Day is just around the corner. Are you wondering what to get your loved one? Buying Orlando foreclosures may not be on the top of your list, but maybe it should be. Do you need some extra room? Is it time to spread out? Are you a repeat buyer?

You’ve probably heard the term “buyer’s market” more often than you care to, but if you want to expand your living quarters, you might want to pay attention.

What is a buyer’s market?
The typical reply might be something like, “A buyer’s market is where the supply is greater than the demand; the heavier the supply, the stronger the buyer’s market.” What you really need to know is that a buyer’s market is heavily tipped in your favor. Mortgage rates, housing supply and negotiations are all pointed towards helping you find – and buy - the home of your dreams.

What’s so great about buying Orlando foreclosures or other homes for sale now?
Whether you’re a first-time buyer or currently own a home and want to upgrade, there are plenty of reasons to get into the action now:

• Home prices are lower than they’ve been in 12 years.
• Foreclosures are going for rock-bottom prices as lenders try to make up their losses.
• The number of programs to help buyers get into a new home is higher than it’s ever been.
• Between government programs, lenders’ programs and private programs, the chances of getting into a home you can afford are high.
• Many sellers are eager to find qualified buyers. If you’ve been pre-approved for a mortgage, you have a better stance in negotiations.
• Mortgage rates are lower than they’ve been in a long time, but are slowly starting to rise again.

These are just a few of the reasons.

Why buy foreclosures?
Foreclosures are selling at much lower prices than other homes. In fact, many expect to save at least 30% when buying foreclosed property and that percentage isn’t unrealistic.

If you’ve been trying to figure out what to buy your Valentine, and you’ve been thinking about buying a home, look around at Orlando foreclosures. Not only can you find a fantastic deal, but you’ll also be able to celebrate Valentine’s Day in a new home!

Was Your Orlando Real Estate Financing Declined?

2010-01-05T06:40:00.000-08:00

If you’ve recently applied for credit to finance a Orlando real estate purchase, and were declined, you might be wondering why a lender would deny you credit. Most lenders have a checklist of qualifications necessary to get approval for a home loan, and some don’t have anything to do with what your credit score is. Here are the basic reasons a lender may deny a mortgage loan:

• Little or no credit. You may be under the mistaken impression that no credit is better than bad credit, but you’d be wrong. A blank credit history is not something a mortgage lender wants to see. A lender needs some idea of how you make payments. You can build your credit history by getting a department store credit card, and only using thirty percent of your available credit to make a purchase. Making regular payments will soon add up to good credit, and lenders will look more favorably at your loan application.

• Bad Credit. It'll be difficult to find a lender that will approve a person with bad credit. It’s not the end of the road. You can improve your credit score with a little hard work and still buy that Orlando real estate you want. You’ll want to get a copy of your credit report from all three of the major credit bureaus. If you have frequent late charges or many items in collections, you’ll need to call each company and arrange to get your accounts current. You’ll be surprised at the difference each timely payment makes on your credit score.

• Credit-to-Debt Ratio. Most mortgage lenders will decline a loan application if your credit to debt ratio is too high. The ratio is figured by dividing the amount of credit available to you by the amount that you are actually using. Using all or a high percentage of the credit available to you may leave the impression that you are short on money and will have trouble making loan payments.

Let us help you get on the road to a Orlando real estate loan. Call us at 407-876-5771 for more information.

Orlando Real Estate Market Gets a Boost with Tax Credit Extension

2009-12-03T16:04:00.000-08:00

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.

FHA On Solid Ground: Hope for Orlando Real Estate Owners

2009-12-03T16:00:00.000-08:00

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.

Saving Foreclosures in Orlando with New Fannie Mae Program

2009-12-03T15:55:00.000-08:00

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.

Does Your ARM Increase Mean Orlando Foreclosure?

2009-11-01T11:36:00.000-08:00

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.

National Foreclosure Trends and Orlando Real Estate

2009-11-01T11:29:00.000-08:00

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 Secrets for Orlando Real Estate Investors

2009-10-09T10:21:00.000-07:00

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

Orlando Real Estate Agents

How To Get a Great Deal on an Orlando Vacation Home

2009-10-09T10:18:00.000-07:00

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

Real Estate Orlando

Orlando Short Sale Secrets for Orlando Home Sellers

2009-10-09T10:14:00.000-07:00

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 :

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.

Orlando Real Estate

Foreclosure Secrets - Orlando First Time Buyers

2009-10-09T10:13:00.000-07:00

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

New Proposed home "short sales" plan

2009-10-08T09:49:00.000-07:00

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

Stop Foreclosure & Save Your Credit with an Orlando Short Sale

FREE Foreclosure Secrets - Real Estate Reports

2009-10-08T09:40:00.000-07:00

FREE Foreclosure Secrets - Real Estate Video 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

2009-10-08T09:14:00.000-07:00

Orlando Real Estate Associates

http://www.orlandorealestateassociates.com/

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.

Helping Families Save Their Orlando Homes

2009-10-02T16:54:00.000-07:00

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:

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

2009-10-02T16:46:00.000-07:00

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.

Federal Incentives for Short Sales

2009-09-15T17:30:00.000-07:00

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

2009-09-15T08:24:00.000-07:00

Florida Real Estate Resource Blog

http://blog.orlandorealtyresource.com/

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.

Home Buyers - Get the Most for Your Money
Home Sellers - Sell Your Home Fast and for Top Dollar

Orlando ranks No. 8 in August foreclosures

2009-09-12T15:30:00.000-07:00

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

Can’t Afford the Rent on Orlando Homes?

2009-09-02T14:54:00.000-07:00

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.

Do Orlando Foreclosures Make Good Rental Real Estate?

2009-09-01T15:58:00.000-07:00

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

2009-09-01T15:50:00.000-07:00

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.

Orlando Foreclosure To Some Is Orlando Investment To Others

2009-08-21T21:17:00.000-07:00

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

One of the Possible Foreclosures in Orlando? All is Not Lost!

2009-08-01T10:56:00.000-07:00

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.

3 Major Things to Look at When Buying Orlando Foreclosures

2009-08-01T10:45:00.000-07:00

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:

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.

Orlando Real Estate No. 10 on foreclosure list

2009-07-31T10:34:00.000-07:00

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

Orlando Foreclosure Filings Fall 24 Percent

2009-07-16T16:14:00.000-07:00

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

3 Big Tips on Staging Orlando Homes for Sale

2009-07-02T15:30:00.000-07:00

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.

5 Fourth of July Safety Tips for Orlando Homes

2009-07-02T15:25:00.000-07:00

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!

Checklist for Moving When Facing Orlando Foreclosures

2009-07-01T17:25:00.000-07:00

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

2009-07-01T16:23:00.000-07:00

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.

How to Decide if You Should Remodel Your Orlando Home or Move

2009-06-06T11:11:00.000-07:00

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.

6 Steps to Prevent Orlando Foreclosures

2009-06-03T18:42:00.000-07:00

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.

Foreclosures - Defaults Rates may Reach 75%

2009-05-27T16:07:00.000-07:00

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

Orlando Foreclosures and Short Sales

2009-05-15T19:15:00.001-07:00

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.

New website of interest - Florida Short Sale Agents .com

2009-05-13T10:51:00.001-07:00

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.

http://www.floridashortsaleagents.com/

New South Florida Real Estate website of interest - Florida Realty Agents .com

2009-05-13T10:51:00.000-07:00

FL 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.

http://www.flrealtyagents.com

Ask the Real Estate Professionals of Orlando

2009-05-06T13:01:00.001-07:00

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.

Outstanding Property in Orlando, Florida

2009-04-23T19:02:00.001-07:00

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.

Orlando, Florida -- Home Sweet Home

2009-04-21T10:01:00.001-07:00

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.

What You Should Know About an Orlando Short Sale

2009-03-23T10:50:00.000-07:00

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.

Recommended Toronro Real Estate Listings Website

2009-03-14T14:08:00.000-07:00

Here is a great Toronto Real Estate Listings website we highly recommend.

http://www.torontorealestatedirect.com

Purchasing an Orlando Short List Home

2009-03-13T19:28:00.000-07:00

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.

Meeting Your Orlando Real Estate Needs

2009-02-24T20:48:00.000-08:00

Are you considering moving to the big sunny city of Orlando, where the housing market is abundant and the city if full of fun, adventure, and employment opportunities? Perhaps you already live in the warm city of Orlando and are planning on selling your home either to relocate to another city or just a different house. The experience you need is found in the professional service you will find when you work with a knowledgeable Orlando real estate agent. Working with an expert will make your buying or selling process go smoothly and allow you the assistance you need in selling your home or purchasing the home of your dreams.

With the amount of Orlando homes in foreclosure or short sale, working with an experienced Orlando real estate agent is a must. Your expert real estate agent will know the legal questions to ask and all the steps required in purchasing a home that is in the process of foreclosure or short sale. The knowledgeable Orlando real estate agent will work closely with you, the bank or lender who has the foreclosed or short sale property, and the other realtor to ensure your best interest in purchasing the home you desire. Working closely with your experienced Orlando real estate agent you know that your best interest is being considered with the every move towards purchasing your new home.

Enjoy firsthand the freedom you will experience when you list your present home with an experienced Orlando real estate agent. Your friendly Orlando real estate agent can direct you in the ways to improve your home to increase the value or the famous tips on selling your home quickly and making the most money possible from the sale of your home. With the information available to your expert Orlando real estate agent you are sure to be getting the most up to date information on the housing market today and the progress of selling your home.

You can choose from homes on the beach front where you can experience the beach bum life or homes in the middle of the city and even homes where you can enjoy seeing Mickey Mouse or the other Disney characters as well as frequent visits to Sea World and Bush Gardens. The choice is your when it comes to the location you wish to live, you simply let your knowledgeable Orlando real estate agent know and you can rest assured it will be found. Take comfort in knowing that the home you are buying or selling will be treated with your best interest in mind as well as all the procedures in purchasing or selling your home when you work hand in hand with an experienced Orlando real estate agent.

Let Mickey Mouse Welcome you Home

2009-02-18T21:59:00.000-08:00

Purchase your home in Orlando and let Mickey Mouse and the other wonderful Disney characters welcome you home everyday. With the assistance of a professional Orlando real estate agent you can have the keys to your dream home in no time. Whether you are selling your home or purchasing your home you can rest assured your needs will be met. Your knowledgeable real estate agent will have your best interests in mind while searching for your next dream home.

Take advantage of the foreclosures and short sale homes in the Florida area with the assistance of your real estate agent. Working with a real estate agent that is familiar with the foreclosures and short sales in the area will simplify the purchase process. Even if you are in the process of a short sale on your own property your Orlando real estate agent will be able to meet all your needs. Allow your realtor to handle all the communication that occurs when you sell your home through the short sale process. This will protect your financial future by working with your bank or lending institute in the sale of your home if you find yourself owing more on your home than what the value of your home may be at the time of sell.

Purchasing a foreclosure or short sale that is in the area you are searching can save you money and increase the possibilities of purchasing a home that will immediately give you the satisfaction of gaining value with every improvement you make. Enjoy the fact that you purchased a home that you can sell when you are ready and make more off the sell than you paid when you purchased the home. Your experienced Florida real estate agent can ensure you are making the most money possible when purchasing a new home as well as saving the most money possible when you sell your current home. With the economy in the state it is in and homes coming available on a regular basis when you work with a knowledgeable real estate agent you can be sure that you will be notified of all available property the minute it is placed on sale.

Living in Florida has wonderful advantages so stop waiting until you retire to become a local in the sunshine state. Whether you are single or looking for a new home for you family the beautiful state of Florida is ready to offer you the home you dream about and the active life you desire. Wake up to the smell of salt water and the sound of waves hitting the shore of the beautiful white beaches.

How to get your house to sell.

2009-02-04T09:26:00.000-08:00

Do you want your house to sell fast and for the asking price? To make this happen you need to prep your house to sell. Turn your house into an irresistible investment and watch it get scooped off the market.

1. One of the most important aspects of selling your house is removing yourself from it. If you’ve had an emotional bond with your house, this might be a hard task for you. But you’ve got think about the future. You have to begin thinking about your home as a product for sale.
2. Remove personal items from the home. People have a hard time picturing themselves moving into a house if other’s people’s personal belongings such as pictures are in every room. You want the buyers to say that they can imagine themselves in the home.
3. Organize and get rid of clutter. Walk through each room of the house and pick out all the clutter that buyers will get distracted by. Pack the clutter up and put it in storage, donate it, recycle it, or throw it away. Remove everything from your kitchen counters and store essential items in a closet. Don’t randomly throw things in cupboards and closets. Buyers will want to open cabinets and closets to get an idea of the size and aesthetics.
4. Place unneeded furniture in a storage unit. The fewer items in each room, the bigger it will appear. Houses sell faster with “just enough” furniture in each room.
5. Make repairs such as fixing cracked tiles, leaky faucets, and holes in walls. Some people are turned off by colorful walls, so consider painting all the walls a neutral color.
6. Clean, clean, and clean. Clean your house from top to bottom. Try to scrub your kitchen and bathrooms before every viewing. It doesn’t hurt to add some inviting fragrances to your home like air fresheners. Just make sure it isn’t overwhelming.
7. Make your garden look as appealing as your home. Hire a professional to help you in this area if you don’t have any gardening expertise.
8. Hire a real estate agent to stage your home. A professional home stager will arrange the furniture and bring in accessories such as plants, flowers, and pillows, scented soaps, lush towels, and area rugs. They will make your home look appealing to any buyer. Consider using an Orlando real estate agent to help you make your home an irresistible investment.

Real Estate Prices

2009-02-03T11:10:00.000-08:00

It has been reported that real estate prices in the South have dropped nearly 7% in December 2008 compared to December 2007 for existing homes. Moreover, the prices have been under pressure in Florida more than any other state. While not exactly good news for existing homeowners, potential buyers should be ready to pounce on some great deals.

Purchasers in Orlando have begun to notice this and are pouncing on the lowered prices. Sales of existing homes in the area are up 30%, while prices have fallen more than 25%. Here are some tips to negotiating a great deal in a sluggish economy:

Preparation- It has often been said that the most commonly overlooked aspect of negotiation is preparation. A good negotiator plans thoroughly. The Orlando Realty Expert website has some great tools to help you get prepared.

1. You should first know about the prices of houses in the neighborhood. This will help you decide how much money other buyers are willing to pay and other sellers are willing to take for a comparable house.
2. Having the option to walk away from the deal always makes a seller nervous about closing a deal. Therefore, showing interest in more than one house will allow you to drive a hard bargain with a particular seller. Search for comparable houses that fit your needs and make sure that the seller knows that you have more than one option.
3. Search for foreclosed properties that may be good deals. According to some sources, you could find a house for 40% of the original mortgage price.
4. Get a good feel for the Orlando market. The more that you know about other houses, the better chance you’ll get a great deal from the current seller.
5. Have a good idea of the money you’re willing to spend and the amount that a bank or other institution will lend to you. This way you’re not overspending and getting yourself in trouble.

Listen: Let the seller begin the negotiations first. Even if you love the house, give the seller the impression that you need to be “talked into” purchasing the home. This will allow you to gather more information about why they are selling the house and what kind of purchase price they are asking for. This will also allow the seller a chance to slip up. In a negotiation, people often talk to fill voids in the conversation and reveal more about their positions than they originally intended. Use this information to your advantage.

Drive a Hard Bargain Softly: No one likes a jerk, but you need to make sure that you are getting what you want out of this deal. Don’t be afraid to throw out a number that you think may be insulting. The old maxim rings true: If you don’t ask, you won’t receive.

Hire an Expert: Someone who has connections and experience is a fantastic resource. An expert can help you handle complex deals and contracts, as well as advise you on the area schools, zoning regulations and local economy. An expert can often facilitate a bargain you would never get yourself.

Orlando Short Sales vs. Orlando Foreclosure

2009-01-19T11:43:00.000-08:00

In our world today with the economy in the position it is in we are reading about people and families losing their home due to job loss or a drastic reduction in income. Perhaps this person is you or someone who is close to you and you are searching for a way to save your credit as well as your home from foreclosure. Orlando is a wonderful city full of adventure and opportunity; however, like the rest of the United States, it is feeling the effects of our declining economy as well if not harder than other smaller cities. Protect yourself from a foreclosure that can ruin your credit with the opportunity of a realtor selling your home in what is called a Short sale.
Orlando short sales offer the selling the opportunity to avoid a foreclosure and the expenses that accompany a foreclosure as well as the legal process that is found with a foreclosure. If you owe more on your home than what the value of your home is then in the process of a short sale your lender or mortgage holder will allow you to sell your home for market value and will disregard the remaining balance. For a person purchasing the property in a short sale it will allow the buyer to avoid a public or private auction as well as the fees that are added to the mortgage balance in a foreclosure. Dealing with a knowledgeable Orlando real estate agent can make this process go smooth by handling all the details between the mortgages company its self and you instead of involving several other people, which will add to the cost of the property as well.
A foreclosure will be placed on your credit report and will remain for years, thus preventing you from purchasing another home. Keep in mind as well that in a foreclosure the lender is mainly interested in selling the property since it is only costing them money so they will hold either a public or private auction and take the highest bid out of a certain number, thus leaving you responsible for the remaining balance. The lender may offer you several different ways to clear the balance or you may end up finding yourself not only looking at a foreclosure on your credit report but possibly a bankruptcy as well in order to clear the balance you still owe.
Purchasing a property under a short sale will save you time as well as money. The property will be available immediately upon an agreed purchase amount where as buying a property that is involved in a foreclosure may take more time depending on the type of auction and the legality involved with the property already. Working with a knowledgeable Orlando real estate agent will save you the headache and time of working alone or with an agent that is inexperienced.

Short Sales, the Alternative to Foreclosure

2009-01-14T11:54:00.000-08:00

Are you on the verge of losing you home in a foreclosure due to loss of job or a reduction of income? Maybe you have already lost hope in saving your credit as much as possible and have resolved to the fact that you will have a foreclosure on your record that will prevent you from purchasing another home once you are on your feet again. You have a solution you may not be aware of that will save you from having a foreclosure or possible bankruptcy on your credit report for years to come.
Orlando has a program that is referred to Short Sales; this is the process in which your lender will allow you to sell your house for less than what you owe and basically remove the difference that still remains. This program is very helpful to the individual that “upside-down” in the home. What this means is that your balance due on your mortgage is actually more than what your home is worth. When this happens and you fall behind on your mortgage for whatever reason it can close to impossible to sell your home in enough time to avoid your lender foreclosing on your home.
Purchasing a home that is in Orlando and the mortgage holder as approved for a short sale can be very beneficial in saving you money. When you are purchasing a home in this manner you are able to avoid paying some of the extra fees that are attached to a foreclosure, and your realtor will be in direct contact with the lender so you will only have to worry with the sale price and when to close on your new purchase. Imagine being able to purchase a home for far less than what you would if the property was not in distress! Working with an Orlando real estate agent that is knowledgeable in the area of short sales will be able to let you know of the properties in the neighborhood you prefer that are available through the short sales program.
Orlando short sales are growing rapidly with the fall in the economy and people suffering from job loss or a reduction in income. This program helps the seller, the lender, and the purchaser. As the seller you are able to avoid a foreclosure and the added expenses that accompany one; as the lender you are not losing as much money on the property as you would be if you had to follow through with the process of a foreclosure; and as the purchaser you are saving a ton of money purchasing a home that is being sold as a short sale. Get in touch with a knowledgeable and reputable Orlando real estate agent today to discover your bargain property.

New Orlando area Real Estate info Blog

2009-01-10T08:58:00.000-08:00

Orlando area Real Estate Blog - This website Blog is operated by a dedicated team of full time real estate associates who live in and service the Greater Orlando Area. This group of Top Producers have decades of experience to draw upon that will assist with any clients situation. Whether you are Looking to Buy or Looking to Sell, the Orlando Real Estate Associates can help.

Sick of the Snow

2008-12-26T09:46:00.000-08:00

I woke this morning to find myself stuck with the reality that I was going to have to dress in several layers of clothing due to the subzero temperatures and that I would also have to shovel my car out of the snow if I was to make it to work on time today. How many times has this happened to you? The story ends with either you having a bad day at work due to the weather or you are late and get in trouble for it. There is an option and it is a warm one.
Orlando -- yes, Orlando, Florida. Home of Disney World, Sea World, and several other theme parks. Did you know that Orlando has even more to offer than that? Did you know that Orlando is within an hour’s drive to the beautiful beaches of Daytona and Tampa Bay? Did you know that Orlando is less than 45 minutes from watching the Space Shuttle take off and land? You see Orlando has come a long way from that little city in the middle of central Florida. Orlando is one of the top ten bests as far as vacation destinations for families. There is something in Orlando for everyone in the family.
Does Dad like watching the NBA? Well, Orlando has its own team to watch. Does he like to watch Nascar? In Daytona he can see it all first hand at the Daytona 500 or travel a little further south to Homestead and see the race there. What does Mom like? Craft fairs? The downtown Orlando area and surrounding cities all have a huge variety of craft fairs and festivals for the family. From a Spanish festival in Tampa to a Crab festival in Daytona there is always something going on in the greater Orlando area. Jacksonville, Miami, and Tampa all have pro football teams and that does not even begin to say about the legendary Florida Gators, Florida State Seminoles, or Miami Hurricanes.
The city of Orlando is growing at such a rapid rate, new jobs are moving into Orlando, and it’s amazing. The whole family can enjoy the beautiful tropical weather year-round and not have to worry about shoveling the snow or layering clothes as they walk out the door. If my greatest concern as I went to work was did I bring the suntan lotion or not, I would sure be happy and looking forward to work every day. Please take a moment and see what you Orlando real estate agent can find for you. Now is the best time to move to the land of sunshine and warm weather!

Orlando Foreclosures

2008-12-12T22:03:00.000-08:00

Online is a wonderful place to get an updated listing and maintain a list of the local home foreclosures in Orlando. The location and times of public auctions will be updated here as well as rather it’s a public auction or a private auction. The insight is wonderful when looking to purchase Orlando foreclosure property as an investment or even your next home.

Many times the lending institution that holds the deed to the foreclosed property will accept as low as the payoff on the balance due so they can stop losing money and clear their books. You may even find that your realtor can negotiate closing fees, along with other fees involved in the purchase of a foreclosed home. This will leave you room for improvements to the home if there are any needed. Since the realtor is in direct communication with the lending institution, the process will be fast and simple.

The listings for these Orlando Foreclosed properties can be found online through various sites, in your local paper, a lending institution and published at some courthouses. It is important, if you are dealing with a public auction foreclosure, that you and your realtor are there with all the basic and legal information pertaining to the property you are there to bid on. Keep in mind in a public auction the bid is open to everyone who. Be prepared in a case such as that to have to go back and forth with someone and that you have your financing lined up before bidding.

If you find a property that has been foreclosed on, your realtor will be in contact with the realtor representing the bank or finance company that has foreclosed on the property. This process can take a few days in getting a response on your bid and they may have a deadline to close the bidding by. If that is the case, remember you are not the only one bidding on the property and if you bid to low you will stand a good chance of being outbid, however, you will not know until the bidding is closed.

In some cases the home you are bidding on has either been vacant for a long period of time or was destroyed by the previous owners before foreclosure. You may, in that case, have some repairs to do so keep that in mind when deciding on the top bid you will place on the property. While buying foreclosed property can be a wonderful investment it is important to work with a knowledgeable realtor and have an attorney available to handle your legal needs should any arise.

Orlando Short Sale, the Alternative to Foreclosure

2008-12-09T13:46:00.000-08:00

With the trying times we live in now and the uncertainty of job security you can find yourself in a bind with your bills. One of our largest responsibilities is our mortgage payment. When you are initially looking for a home you base your available mortgage payment on your income. Well, you don’t imagine for a second the possibility of losing your job or being laid off. This happens everyday to wonderful people just like us.

Where once in life there was no solution other than foreclosure you have now have the option of a short sale. The housing market has taken off in Orlando, which plays a key role in a short sale. With a short sale your lender agrees to let you sell your home for less than the balance you owe. In some cases your realtor can even negotiate with your lender so that your balance owed will not affect your credit rating to severely. The short sale is a convenient solution for you as a homeowner who is behind on your mortgage and wish to avoid foreclosure.

You as the homeowner can avoid the financial distress of foreclosure by working closely with an Orlando real estate agent in selling your home. If you cannot afford your mortgage and are behind as well as owe the bank more than what your home is worth, an Orlando real estate agent has the answer for you.

With the assistant of an experienced agent you can avoid the expense and stress of a foreclosure and the rating on your credit report for the next 10 years. The agent will negotiate with your bank to allow you to sell your home for less than you owe and negotiate to have your mortgage completely discharged at the payment of your loan after the sell of your home, which in turn will eliminate the threat of you being held responsible for your balance after the sell of your home.

There are many reasons homeowners get in over their heads but with an Orlando real estate agent you can be relieved of those unforeseen problems. For a reasonable fee and based on your situation there is a wonderful solution and the effect on your credit is much less severe. The best part of all is that all the services an agent needs to process your short sell is usually under one roof. This means that once your agent comes to an agreement with your lender on the balance owed you can list your home. In the event of your home selling the assistance your agent will need to close the sell is in the same building with them.