Orlando FL Real Estate Kissimmee and Celebration

Miley Cyrus has a top 10 song out called the 7 Things.  It is about likes and dislikes so here is what is happening new for buyers and sellers. 

Dislikes:

“Effective August 18th Fannie Mae and Freddie Mac will have an adverse Marketing fee added into their pricing.  The increase is subject to all lenders and  will be a .25 discount point.  

In addition, they will be increasing their loan level price adjustments based on credit score and loan type.  

So if you know anyone sitting on the fence.  Have them
act now to avoid these add-ons.”

Likes:

Here is a copy of our realtor call to action from Realtor.org of new legislation.  There is some terrific opportunities here but there are strings attached so be sure to talk to a professional to avoid the pitfalls of the benefits.

Here is the summary.  To hear of Miley Cyrus’s song see the video at the bottom.

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Orlando Florida Real Estate update letter to seller why pricing is the most important part of marketing your home for sale. I know it will be hard to accept but I also know from past experience you can handle the truth.

Like these song lyrics from Coldplay in Viva la Vida

One minute I hold the key

Next the walls were closed on me

And I discovered that my castles stand

Upon pillars of salt and pillars of sand

Today the story is the listing appointment and how it helps another seller understand which pillar we need to be pricing.

Scheduled to be on a listing appt. on Friday a couple miles from your home, a referral from a trusted friend.  After reviewing the recent sales in the area it was another eye opener.  The subject home has 5 bedrooms and 3 baths, with a pool, new carpet and the home was just repainted.  The Homeowner expected to get in the mid to high 250K range.  I ran the comps and found a home on his street same size with granite counters not formica and better cosmetics all around sold for 160K. 

Your home is in a higher end market but the same rules apply when it comes to comps and days on the market still paint a picture.

What does this mean?

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What’s it all about Alfie or in this case Orlando Real Estate Short Sales?

The song lyrics say it all.

What’s it all about?

So if you have heard the term short sale just what is it?

Selling short of what you owe with permission from the lender.

We have so many now in our Greater Orlando Board of Realtors MLS.  Selling them can be a challenge because there are so many and not enough service providers to help get the job done in a timely manner.  Would you like to stand in line at the bank for 3 months and still not know if your deposit was accepted?  This can happen with short sales not always but it is certainly a possibility if you are not working with a professional. 

What’s it all about when you sort it out?

Are we mean’t to take more than we give?

Be careful you may owe tax on the forgiven debt by the lender but not the IRS who could tax the difference as income.  Get professional help when considering this type of sale.

These are questions quite suited to short sales.

Here are some more answers to those questions and why buying or selling with a short sale may be for you.

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The Orlando luxury homes market is doing extremely well considering all the foreclosures, short sales and bad press the real estate market is getting.

Check out the statistics since Jan. 2008 by month for sales of homes over a million dollars in and around the Florida counties.  Orange, Polk, Osceola, Lake and Seminole Counties have posted multiple sales every month.

So just what has been happening?  Here are the numbers

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Mama Mia check out these updated Orlando Real Estate Opportunities  today.

Do you know The Name of the Game?  There are so many choices right now but don’t think foreclosures are the only deals. 

Orlando Builders too are ready to get rid of inventory.

What is the difference if you buy a foreclosure or new Orlando builder inventory?

• They might pay for your first years homeowners dues
• They could contribute substantially to your closing costs
• They would include furniture packages if you are in a short term area an $18,000 value
• They would offer a close out price on a returned unit to reduce inventory
• The biggest difference is you have new with warranty versus foreclosed in as is condition.

You do the math?  Want to know where some of these deals are lurking in Orlando?

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