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Buying a Short Sale? Here’s What You Need To Know

October 17th, 2014 by tisner

Buying a property through a short sale can be financially beneficial. But, as a real estate buyer, you need to go into the process understanding your market! That means having a knowledgeable realtor and attorney.

short saleA homeowner is “underwater” with their mortgage when they owe more than the value of their home. The term “short sale” comes from the situation where the proceeds from a sale are less than, or “short” of, the amount of debt.

Lenders are motivated to allow a short sale when they perceive it will create more net income than a foreclosure. Sellers are motivated because it puts them in more control of timing, and causes less damage to their credit than foreclosure.

For the buyer, a short sale means a purchase price that is discounted from the normal sale price. However, the market situation with short sales is very specific to your state and your market. Here are some trends across the country…

25% of US homeowners with a mortgage are underwater. That is 10.7 million homes! That percentage is down from 28% in September 2012. It is important to note that 8.3 million of those homes are on the edge of being underwater with a LTV ratio of 90%-110%. The other 2.4 million have an average LTV ratio of 125%.

A primary factor helping that downward trend is a decline in investors’ interest in short sales. A decline in investors buying at discount means prices are moving upward. Increasing prices means increases in value, which means increases in equity for the homeowners.

However, according to RealtyTrac.com it will take years, not months, for the 125% LTV owners to recover enough equity to allow them to sell. That means the short sale opportunities for buyers will be available for a while.

As a buyer of a short sale, be aware the process takes time. All parties have many more documents to review and approve. Your due diligence will take longer. And the process leading to a closing will take longer.

Make sure you are working with a Realtor and an attorney who have experience with short sales in your market. One way to qualify a Realtor is to know they are trained as a Certified Distressed Property Expert (CDPE). That means they have specific training in streamlining short sales. It is not mandatory, but it is a valuable credential.

At least, make sure your Realtor and attorney have actual experience with short sales. Go into the process with a lot of patience.

Information courtesy of Orlando Realtor Teri Isner, Orlando Avenue Top Team.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Things To Do Orlando: Winter Springs Festival Of The Arts

October 15th, 2014 by tisner

winter springs art festivalThe 7th Annual Winter Springs Festival of the Arts will take place in the Winter Springs Town Center October 18th & 19th, 2014, and is produced by the Oviedo-Winter Springs Regional Chamber of Commerce in collaboration with the City of Winter Springs. Established as a signature event in an affluent Central Florida suburb, this art, wine and music festival attracts residents and visitors to the upscale village center.

This year there is a German twist by bringing you “ARToberFEST”! Patrons stroll along beautiful Blumberg Boulevard viewing the work of 125 fine artists, enjoying live music and entertainment and tasting a variety of German inspired foods including plenty of German beer!

Information provided by Orlando Realtor Teri Isner, Orlando Avenue top Team.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Flipping Houses – Is It for You?

October 10th, 2014 by tisner

If you watch home-and-garden cable channels, it looks like everyone is flipping houses. i.e. buying a piece of real estate, making minor repairs, and quickly selling it at a substantially higher price.  Basic investing 101: Buy low, sell high.

flipping housesCertainly sounds appealing–and you may be tempted to join the ranks of those who have been successful in this field.  Be forewarned, however, that like most money-making endeavors, real estate flipping requires time, money, patience and skill.

For tips on how to begin, steps to follow, and advice on how to avoid pitfalls, read on…

Do your research and be knowledgeable well in advance:

  • Talk to (and learn from) successful flippers, read up on the subject, follow real estate deals in the newspaper, use the Internet as a teaching resource, attend open houses and auctions.
  • Familiarize yourself with current prices, taxes, utility rates, HOA fees, municipal and restrictions in each area you are considering.   Study your market. Get to know it as well as you possibly can. Understand the trends, the kinds of houses, the neighborhoods, the streets
  • Visit the potential homes and neighborhoods in person.  Talk to residents, Realtors, and repair companies who are familiar with the area.

Set up a budget, a time line, and financing:

  • Figure out how much money you have (or can put your hands on using investors) without borrowing
  • Calculate the cost of repairs, taxes, utilities, materials, contractor/labor expenses, and the like.  Professional contractors advise flippers to add an extra 10% to their repair estimate.  Also, to be on the safe side, make sure that you’ll be able to hold on to the home as a rental property for a while, if need be.
  • Experts suggest factoring in the flip time into your budget and your potential profit before you purchase the home. According to investors, a successful flip is one that makes you around a 15% profit.

Be prepared:

  • When you find the right house, you must act quickly to buy it.
  • Have appraisers, agents, contractors, skilled laborers lined up so they can start work immediately upon your purchase.  Remember, in flipping houses, time is money!
  • Be ready to make quick decisions, devote a great deal of time (and possibly sweat equity) to this project, and face unexpected expenses.

Two major caveats:  Be patient and don’t get greedy!

Information courtesy of Orlando Realtor Teri Isner, Orlando Avenue Top Team.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Things To Do Orlando: Scott’s Maze Adventures

October 8th, 2014 by tisner
Long and Scott Farms invites visitors to work their way through a puzzling 7-acre path of stalks.
It all started with just a 7 acre corn field… Now it has become a tradition! It’s a maze, it’s a game, it’s educational, and it’s FUN! Year after year each corn maze has a unique design, with twisting pathways, questions and answers, and picture rubbings.
scotts maze adventuresThe design’s theme this year is “Farmers Feed Families.” Admission includes other, smaller mazes, a playground with a jumping pillow and a 60-foot slide. For additional fees, there are hay rides around the farm, which straddles Lake and Orange counties, and catch-and-release fishing sessions for kids.WHEN: 10 a.m.-5 p.m. Saturdays, 1 p.m.-5 p.m. Sundays, through Dec. 14.

WHERE: 26216 County Road 448A, Mount Dora

COST: $11 ($9 for ages 3-16). Hayrides are $4; fishing is $2.

CALL: 352-383-6900

Come get LOST! Bring friends and family to see who can navigate the maze the quickest!
Information courtesy of Orlando Realtor Teri Isner.
Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Orlando FL Foreclosure Trends for August 2014

October 3rd, 2014 by tisner

In August, the number of properties that received a foreclosure filing in Orlando, FL was 42% higher than the previous month and 52% higher than the same time last year, according to RealtyTrac.com.

Orlando Foreclosure Geographical Comparison

Orlando foreclosures were 0.28% above national statistics, 0.12% above state figures, and 0.01% below Orange County numbers in August 2014.

orlando fl foreclsure

Orlando Foreclosure Status Distribution

The current distribution of foreclosures based on the number of active foreclosure homes in Orlando, FL.

Pre-foreclosures accounted for 21.9% of the foreclosure activity in August,  Auctions were 41.6%, and Bank-owned properties were 36.4%.

orlando fl foreclosure

Orlando FL Foreclosure Activity by Month

In August, the number of bank-owned properties increased 77.5% from the previous month and 58.8% from the previous year. The number of auctions increased 4.1% from the previous month and rose 46.5% from the previous year. Pre-foreclosure activity increased 120.7% from the previous month and 50.0% from the previous year.

orlando fl foreclsure

Access Teri’s one-stop Orlando FL home shopping website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Things To Do Orlando: The Spark Run

September 30th, 2014 by tisner

Come and Ignite the Night at The Spark Run!

The Spark Run is the ultimate nighttime 5k run/walk. It is a high-energy family friendly event featuring an interactive environment full of light and sound providing a sensory voyage like no other.

Participants are encouraged to “Ignite the Night” with glow sticks, LED’s and outrageous costumes. The Spark Run celebrates fun, health, originality and giving back to the community.

The Spark Run in Orlando starts at 8:00 pm but come early and enjoy the food and festivities at the pre-run plaza, which opens at 6:00 pm. There will be face painting and plenty of glow gear and merchandise available. Don’t forget to stay for the ultimate after-party featuring a performance by Kaskade from 9:30-11pm.

Check out the course map illustrating just a few of the sensational zones each runner will experience as you make your way through the course.

Information courtesy of Teri Isner, Orlando Avenue Top Team, Orlando Florida Realtors.

Teri Isner

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

 

Quick and Easy Ways To Add Value To Your Home

September 26th, 2014 by tisner

In today’s economy, many potential purchasers don’t have extra cash available for repairs and updates and are looking for move-in ready houses.  It makes sense, therefore, in order to attract serious buyers and add value to your home, that you consider the following relatively inexpensive and non-time-consuming improvements:

add valueInterior updates:

  • If you can’t replace the water heater with a tankless model, wrap the one you have in fireproof insulation.
  • Install modern light switches and outlets throughout your home.  Add dimmer switches.
  • Insulate windows.  (Easy-to-follow instructions.)
  • In bathrooms replace dated towel racks, light fixtures, sinks, toilet seats, and hardware.  Purchase a low flow toilet.  Re-grout where needed.  If the floor is in poor shape, consider putting easy-to-install vinyl tiles right over the old one.
  • Add crown moldings, wood trim, and/or cornices to give room a look of quality.
  • Update your kitchen inexpensively by replacing fixtures, faucets, and hardware.  Consider pendant lighting.  Refinish cabinets rather than replacing them.
  • Clean and organize all closets.  For helpful free and/or inexpensive designs created for your particular needs, visit Closet Maid.

Exterior improvements:

  • Keep shrubs and trees neatly pruned.  Plant new trees for energy savings and aesthetic value.
  • Add low-voltage lighting for pathways
  • Pay attention to the front door.  Does it need new weather stripping?  A fresh coat of paint? Updated (or at least polished) hardware—knockers, knobs, hinges, and light fixtures?
  • Spend $10 to test your lawn for needed nutrients.
  • Attend to the garage door.  Use a mixture of one part bleach to three parts water and a soft-bristled brush to give it a thorough cleaning.  Still dirty or stained?  Rent a power washer for about $60.
  • Check for faded or peeling paint.  Sand and apply a fresh coat.

Real estate gurus will tell you that the wisest updates you can make are in the kitchen and the bathroom.  (Not only are these rooms of high importance to buyers, those updates will add the most value and give you a good return on your money.)  Check BankRate.com and DIYnetwork.com for suggestions and good advice on the benefits of more ambitious projects for these areas of your home.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Things To Do Orlando: Artlando

September 23rd, 2014 by tisner

artlandoArtlando, a celebration of Orlando’s arts & culture, takes place Saturday Sept 27, 11:00am – 11:pm will include live performances by Orlando Ballet, Orlando Philharmonic Orchestra, Orlando Shakes, Central Florida Community Arts, Orlando Fringe, Phantasmagoria and many more. There will also be a fine visual artists art show, beer and cocktails by The Hammered Lamb, food by The Food Truck Bazaar and chalk street paintings. Artlando is sponsored by Orlando Weekly and Stella Artois.

Artlando After Dark starts at 6pm and will feature performances by Phantasmagoria, Ibex Puppetry, Orlando Ballet and Orlando Fringe Presents: Professor Soap’s Music Machine.

Information provided by Orlando Realtor Teri Isner, Orlando Avenue Top Team.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Orlando FL Real Estate Market Trends for August 2014

September 19th, 2014 by tisner

While the number of for sale by owner transactions is on the decline, approximately 9 percent of sellers decide to go it alone and forego outside help from a Realtor®. Typically those that go this route have extenuating circumstances, such as already having a relationship with the buyer (which happened in 40 percent of recent FSBO sales, according to National Association of Realtors® data). However, NAR’s 2013 Profile of Home Buyers and Sellers shows that most sellers benefit from the outside help of a knowledgeable advocate when selling their home. Aside from being experts in the field, Realtors® have the time, know the market and needs of the potential buyers, bring an objective and fresh perspective to the seller, understand the complexity of all of the processes involved, and have the ability to attract qualified buyers.  It’s because of these reasons that sellers using a Realtor® tend to get more for their homes, according to NAR’s report.

Let’s look at how many sellers sold their homes with a Realtor in August.

Orange County Real Estate Sales Statistics – August 2014

Orange County saw 88 fewer homes sold in August 2014 than August 2013, a 5 percent decrease. The average sales price increased by 1.5 percent and the median sales price increased by 4.8 percent from August 2013.  Market times increased by 8 days or 15 percent.

Orange
County
Homes
Sold
Average
Sales Price
Median
Sales Price
Average
Market Times 
August
201
4
 1,639  $220,453 $175,000 60
August
2013
1,727  $217,139  $166,830 52

Osceola County Real Estate Sales Statistics – August 2014

Osceola County home sales decreased 88 homes, a 14 percent decrease. Prices increased with the average sales price up 9.1 percent and the median price increased by 8.4 percent.  Market Times increased by 5 days compared to August 2013.

Osceola
County
Homes
Sold
Average
Sales Price
Median
Sales Price
Average
Market Times 
August 2014 479  $173,472  $149,500 63
August 2013 561  $158,977  $137,900 58

Seminole County Real Estate Sales Statistics – August 2014

Seminole County residential sales decreased by 3.6 percent with 26 more homes sold in August 2013. The average sales price increased 4.3 percent and the median price increased by 9.3 percent. Market times increased by 4 days or 7.6 percent.

Seminole
County
Homes
Sold
Average
Sales Price
Median
Sales Price
Average
Market Time 
August 2014 679  $210,171  $176,000 56
August 2014 705  $201,481  $161,000 52

Lake County Real Estate Sales Statistics – August 2014

Residential sales in Lake County increased with 36 additional homes sold, a 7.2 percent increase. The average sales price increased by 9.9 percent, and the median sales price increased by 12 percent for the month compared to August 2013.  Market times increased by 7 days or 8.1 percent.

Lake
County
Homes
Sold
Average
Sales Price
Median
Sales Price
Average
Market Time 
August 2014 531  $169,840  $157,000 93
August 2013 495 $154,406  $139,000 86

Polk County Real Estate Sales Statistics – August 2014

Polk County saw 37 additional homes sold in August 2014 compared to August 2013, a 4.8 percent increase.  The average sales price increased by less than 1 percent, and the median sales price increased by 9.2 percent.  Market times dropped 1 day compared to August 2013.

Polk
County
Homes
Sold
Average
Sales Price
Median
Sales Price
 Average
Market Time
August 2014 778  $133,237  $130,000 85
August 2013 769  $132,969  $119,000 86

It’s still a great time to get your best price on an Orlando home.

Teri Isner

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Windermere FL Real Estate Market Video – Sept 2014

September 18th, 2014 by tisner

Welcome to your up-to-the-minute Sept 2014 edition of Market Snapshot for Windermere Florida compliments of Teri Isner.  This report is personalized with charts including market activity for homes in the 34786 zip code.  Let’s take a look.

Windermere Real Estate, Windermere Florida Real Estate http://www.orlandoavenue.com Windermere FL Real Estate. Find Great Deals on Windermere Real Estate. See Windermere FL statistics and Real Estate in Windermere Florida.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Teri Isner, CIPS, CRS, GRI
Keller Williams At-The-Lakes
66 Riley Road
Celebration, Fl 34747

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