Your Orlando Realty

Author: Your Orlando Realty Admin

  • How to Show Your Orlando Home

    How to Show Your Orlando Home

    It’s tough to keep your Orlando home in top-notch, showing condition all the time. Kids, pets, and your own living habits tend to create messes. Also, the real estate agent’s call informing you that he’s coming by with a potential buyer often comes at the last minute. So you need to take a moment to learn how to show your Orlando home.

    Here is a list of last-minute items to attend to between the real estate agent’s call and his arrival to show your home.

    1. Clean up all messes around the house.
    2. Clean and put away dirty dishes.
    3. Clear tables of un-necessary items.
    4. Send kids and pets outside to play, or have them visit a neighbor. You should also be prepared to step out for a few minutes. It is better if you are not at home while it is being shown.
    5. Turn off your appliances, including the tv and radio.
    6. Turn on quite a few lights. Your home will appear brighter and the shadows will be reduced. During the day, open curtains and blinds. At night, turn on any outside lights.
    7. Close your garage door.
    8. Put away kid’s toys.
    9. Open some windows unless there are noise considerations. (Weather permitting).
    10. Remove any ashtrays and evidence of tobacco.
    11. Eliminate any bad or stale odors. Use air freshener, especially if you smoke, have pets, or the house has been sealed for some time. Gingerbread cooling in the oven is a great touch! Other good fragrances are cinnamon and spices.
    12. In Winter, light a fire in the fireplace. In Summer, have the wood stacked neatly beside the fireplace.
    13. Be sure your plants have been watered and look healthy. If not, remove them.
    14. It is best to leave your home whenever possible. If you can’t leave, greet your guests politely and retreat to another room. By staying out of the way, your real estate agent can expertly show prospective buyers around, answer their questions, and more effectively sell your home.

    By following these guidelines on how to show your home, you’ll know you’ve done your part in helping to elicit an offer for your home. This may help you receive a better offer and a quicker offer!

    Contact us for additional tips on how to show your Orlando home!

  • Best Schools Orlando

    Best Schools Orlando

    Best Schools Orlando

    Most people today who have school-age kids still living at home are concerned about the schools that their kids attend. And with so many new residents moving to Orlando looking to buy a home, and so many Orlando residents looking to buy new homes, a lot of people ask, “What are the best schools in Orlando?” Finding the best schools in Orlando is very important to these home buyers. In fact, many people today will want to know where the best schools are before choosing which part of Orlando that they want to live. This is very different from just a few years ago where most people were only concerned with the ideal part of town to fit their lifestyle or job commute. But today, many are now very concerned with first finding the best schools in Orlando – public or private – before buying their home.

    But, determining which are the best schools in Orlando is not an easy thing. People have many different criteria when it comes to ranking schools. Are public or private schools best? Do test scores make a school the best in Orlando? Is the quality of the teachers the best factor? Do the best schools have the top facilities and amenities? The choices are endless. Nonetheless, people have to look somewhere.

    But with such importance to some as to which are the best schools in Orlando, we have to start somewhere. The most common rating system that people use to determine the best public schools in Orlando is based on test scores. These schools are given a rating from 1 to 10, with 10 being the best. Ratings are based on the school’s test results. For private schools, it’s not that easy. To find the nest private schools in Orlando you have to listen to what people are saying.

    Thus, here is a list of some of the best schools in Orlando – public and private. This is a non-exclusive list and is based on our research alone.

    Elementary Schools

    Avalon Elementary School, 13500 Tanja King Blvd, Orlando, FL 32828

    Lake Eola Charter School, 135 N. Magnolia Ave., Orlando, FL 32801

    Sand Lake Elementary School, 8301 Buena Vista Woods Blvd, Orlando, FL 32836

    Stone Lakes Elementary School, 15200 Stoneybrook Blvd, Orlando, FL 32828

    Middle Schools

    Lake Eola Charter School, 135 N. Magnolia Ave., Orlando, FL 32801

    Orlando Science Middle High Charter School, 2427 Lynx Lane, Orlando, FL 32804

    Arbor Ridge K-8, 2900 Logandale Dr., Orlando, FL 32817

    Discovery Middle School, 601 Woodbury Rd., Orlando, FL 32828

    Esteem Academy, 3909 S. Summerlin Ave., Orlando, FL 32806

    Hunters Creek Middle School, 13400 Town Loop Blvd., Orlando, FL 32837

    Windy Ridge K-8, 3900 Beech Tree Dr., Orlando, FL 32835

    High Schools

    Davinci Charter High School, 135 N. Magnolia Ave., Orlando, FL 32801

    Orlando Science Middle High Charter School, 2427 Lynx Lane, Orlando, FL 32804

    Boone High School, 2000 S. Mills Ave., Orlando, FL 32806

    Esteem Academy, 3909 S. Summerlin Ave., Orlando, FL 32806

    Olympia High School, 4301 S. Apopka-Vineland Rd., Orlando, FL 32835

    Timber Creek High School, 1001 Avalon Park Rd., Orlando, FL 32828

    Private Schools

    The First Academy (Pk – 12), 2667 Bruton Blvd., Orlando, FL 32805

    Pine Castle Christian Academy (PK – 12), 7101 Lake Ellenor Dr., Orlando, FL 32809

    One Accord Christian Academy (K – 10), 7301 Edgewater Dr., Orlando, FL 32810

    Bishop Moore Catholic High School (9 – 12), 3901 Edgewater Dr., Orlando, FL 32804

    Lake Highland Preparatory School (PK – 12), 901 N. Highland Ave., Orlando, FL 32803

    Azalea Park Baptist School (PK – 12), 5725 Dahlia Dr., Orlando, FL 32807

  • 70% of Renters Think Owning Makes More Sense

    70% of Renters Think Owning Makes More Sense

    With the downturn in the housing market over the past few years, in Orlando and all parts of the country, many people considered renting a home to be a better option than buying a home. However, the turnaround in the housing market, and the corresponding thinking of those looking for a new home, has changed dramatically.

    Here is a great article that was recently published by the Florida Realtors that really drives this point home.

    “WASHINGTON – March 27, 2012 – Fannie Mae’s latest quarterly National Housing Survey focuses on the homeownership aspirations of Americans. Despite the recent housing crisis, most Americans continue to believe that homeownership is better than renting.

    And while Fannie Mae’s data finds that financial constraints and employment concerns may be keeping potential homebuyers on the sidelines, that could change. As employment picks up and the economy grows stronger, stabilizing home prices may entice Americans to buy a home in coming years.

    Findings

    • Across all education levels, Americans say owning makes more sense than renting. This belief is held consistently across all demographic groups.
    • • Nearly two-thirds of current renters say that they will buy a house at some point in the future.
    • Non-financial factors, such as safety and quality of local schools, continue to be the top reasons   for buying a home across all income groups.
    • African-Americans and Hispanics are more likely to cite various benefits to homeownership, such as buying a home as a way to build wealth, as a symbol of success and civic benefits.

    “In spite of the impact of the housing crisis on home values and homeownership rates across the country, Americans by and large still hope to become homeowners,” says Doug Duncan, vice president and chief economist of Fannie Mae. “A point of concern for the industry is that some consumers find the mortgage shopping process difficult to navigate. If potential homeowners avoid the process because they believe it to be too complex, we will likely see a continued impact on homeownership rates.”

    Overall, certain groups (renters, those with lower levels of education, people with lower incomes, African-Americans and Hispanics) cite potential difficulties in getting a mortgage. Renters today are most likely to cite poor credit, complexity of the loan process and bad economic times as major reasons not to buy a home.

    Financing problems

    • Renters are consistently more likely than mortgage borrowers to think it would be difficult for them to get a home, and say financial reasons are the major reason they have not bought a home.
    • African-Americans and Hispanics are more likely to indicate that getting a mortgage is difficult, regardless of income level. They’re also more likely to cite bad economic times and the complexity of the mortgage process as major reasons not to buy a home.
    • Groups with lower levels of education are more likely to say it would be difficult for them to get a mortgage than groups with higher levels of education.
    • Hispanics are less confident than other groups about receiving information they need to choose the right mortgage.

    Moreover, attitudes about homeownership as an investment, financial constraints and mortgage accessibility may mean that more Americans choose not to act on their aspiration for homeownership, thus potentially leading to lower homeownership rates.

    Homeownership as an investment

    • The margin of Americans believing homeownership has the highest investment potential has declined over the past several years.
    • At the same time, the perceived safety of owning a home as an investment has trended downward, reaching a low of 63 percent in the fourth quarter of 2011.
    • In turn, groups with higher levels of education and higher incomes are more likely to think buying a home is a safe investment.”

    If you would like some more information about the current real estate market, please contact your premier real estate and legal team at YourOrlandoRealty.com for more information.

  • What is a Short Sale Property?

    What is a Short Sale Property?

    A short sale property is one that is sold at a price that is less than the debt owed on the property. Lenders frequently accept a discount on the amount owed to avoid a possible foreclosure or bankruptcy. As an example, a homeowner, who is facing foreclosure, or who just wants to walk away from an underwater home, has an existing first mortgage of $300,000. The market tells you the house is only worth $245,000. You offer to purchase the home for $220,000. Then seller will then try to talk the bank into accepting these proceeds as payment in full for the outstanding loan. If the bank accepts, then the sale can go forward and this is called a short sale.

    Why would the lender be willing to take such a discount in a short sale? Several reasons. First, banks do not like excess inventory and bad loans on their books. Therefore, if they see an opportunity where they can sell the property without a huge loss, they will do it. Secondly, lenders know they could lose a lot more money if the property goes to foreclosure. There are so many fees involved if the property goes to foreclosure, that they would be better off taking the discount beforehand through a short sale and be finished with the headache of it all.

    Many lenders will accept a short sale. However, you may come across some lenders who will not agree to a short sale. If the numbers work out for the lender they will do it. But it is not always an easy and quick process. It can take a long time. Once a buyer first contacts the lender to negotiate a short sale price, it can take several months to get an answer. Lenders have special committees that review these matters and they definitely take their time. And until there is an offer from a prospective buyer, many banks will not even consider it. So, as a prospective seller of a short sale property, one may want to attempt initial short sale negotiations with the lender before listing the property. If the lender allows this, then the lender can conduct all it’s internal reviews and make a price decision prior to the home being listed. In this situation, once an offer is made on the home, then it should be a quick and simple matter to push this through. As a prospective buyer of a short sale property, one may want to search for a short sale property that has already been through the lender approval process. Many listings will refer to these properties as “pre-approved” short sales, or something similar.

    It does not matter what type of house or condition it’s in. All properties can be considered for a short sale. The best properties to perform a short sale on are the houses that need lots of work and repairs, because lenders will give you a bigger discount if they see a house that is continuing to drop in value.

    Short sales in Orlando are abundant and can provide a wonderful investment to a buyer and a wonderful relief to a prospective seller. But there are many factors to consider. So you need to find a qualified real estate agent to aid you. Please contact the real estate and legal team at YourOrlandoRealty.com for more information on short sale properties in Orlando and the Central Florida area.

  • Orlando Mortgage Rates

    Orlando Mortgage Rates

    Orlando mortgage rates are at what appears to be an all time low right now. Up until a decade ago, Orlando mortgage rates were unreasonably high. At times, during the country’s inflationary periods, Orlando mortgage rates were well into double digit numbers, making it very difficult for the average family to purchase a home here in Orlando.

    However, with the real estate boom that Orlando had beginning in the early 2000’s, rates started to creep up. Fortunately, though, lenders became very creative in finding ways to keep the interest rates low. In most cases, these low rates were just temporary. After the first year or so, these “low rate” loans would increase dramatically, causing a severe hardship on many Orlando families.

    Today, Orlando mortgage rates are extremely low and very affordable. If you are interested in purchasing an Orlando home at this time – either a primary residence or an investment home – there could not be a better time to obtain a low interest mortgage. So you are in luck. You can get an Orlando mortgage for such low rates that you just may never see a deal like this again.

    Orlando is one of the most beautiful and dynamic cities in the United States and now is the time to invest in its future. Not only are home prices low but the mortgage rates are low too. If you have any interest in purchasing a home in Orlando or the Central Florida area, contact a mortgage broker and get locked in to a low rate mortgage loan.

    If you do not currently have a mortgage broker that you are working with, please contact us today to help guide you in the right direction.

  • Orlando Foreclosures Realtor

    Orlando Foreclosures Realtor

    Orlando foreclosures are in very high demand today. No matter what part of Orlando or Central Florida that you are looking in, you will see foreclosure homes all around. Despite the high numbers of foreclosures in the Orlando area, they can sometimes be difficult to work with. Too many times, the owner of a foreclosure is a bank. You need to have patience and have the ability to talk foreclosures when you find that perfect foreclosure home for you.

    For this reason, you need a qualified Orlando foreclosures realtor to walk you through the process. Being a qualified Orlando foreclosures realtor doesn’t just mean having the ability to locate a foreclosure home. It means having the skills and ability to negotiate with the bank through the entire transaction.

    Remember that foreclosures are homes that have been through an extended, and sometimes difficult, legal process. The bank has already lost thousands of dollars and does not want to lose any more. For this reason, they are very careful, and at times difficult, to work with. That’s why having the right Orlando foreclosures realtor on your side is necessary.

    The realtors at YourOrlandoRealty.com are not only qualified foreclosures realtors, but also you will have a licensed attorney at law to assist you through the process. Being both a foreclosures realtor and attorney can greatly aid in this transaction.

    So if you are looking for an Orlando foreclosure home, it is recommended that you have the right Orlando foreclosures realtor. If you already have a realtor helping you with a foreclosure home please ask him or her about their foreclosure and legal experience dealing with banks and the foreclosure process. If you find you need the help of a Realtor/Attorney to walk you through this process please contact us today.

    We at YourOrlandoRealty.com are your direct source to view all Orlando foreclosures that are listed. Our powerful search engine will locate any of these foreclosures, based on the criteria that you choose. So if you are looking for an Orlando foreclosure, please find a qualified Orlando foreclosures realtor. Not all realtors are the same! So please ask before you hire.

  • Reasons for Choosing Orlando Homes

    Reasons for Choosing Orlando Homes

    One of the things that keep bringing people back to Orlando is the fact that it is a premier destination for those who desire to live the laid back lifestyle and relax in an exciting environment that makes it easy to do so – golf, sunshine, fishing, shopping, dining. Orlando has it all. And the fact that Orlando is the top tourist destination in the world with world class entertainment and amenities makes it an even more enjoyable location as people are always eager to be surrounded by so much fun and excitement.

    With all of this, it’s easy to see why people from all over the world are choosing to purchase Orlando homes and call Orlando their home. Those looking for Orlando homes for sale are not just the “snow birds” from up north trying to escape the cold weather and gloom, but ever increasingly include those from around the world that are looking to the Orlando real estate market to call home. No matter what the reason, those looking into potential Orlando real estate options are wanting to call Orlando home. But before calling Orlando home, people will want to consider what their options are on the Orlando real estate market.

    The real estate crash that affected the country recently also hit Orlando hard. However, most see the downtrend as being over and the market finally stabilized. In fact, many believe that the market is now heading back up here in Orlando. But due to the fact that the recent crash had forced property prices down across the entire Orlando area, this has allowed more people to have the financial power to acquire Orlando real estate than ever before. And that’s not the only reason. The Orlando economy has continued to grow and it’s future is brighter than ever. The Orlando real estate market is thriving once again.

    There are still countless bargains in the Orlando market – low-priced homes, short sales, foreclosures, and other. But Orlando also has a full selection of some of the most beautiful homes in the world. From golf course homes to waterfront homes to gated communities to the old-world neighborhoods, Orlando offers homes in every style for every person. Enjoy the Orlando real estate market today. It may never be a better time to purchase a home.

    Please contact us today with any questions you have.

  • Legal Foreclosure Information

    Legal Foreclosure Information

    The foreclosure process can be a little confusing. And one small article is not sufficient to completely explain it. However, we want to give you a very brief summary description of the foreclosure process with some foreclosure information. Banks, or any lender for that matter, decide to initiate foreclose proceedings on a property when the monthly payments are not being timely made on the mortgage loan. Most mortgage loan agreements allow for a ‘grace period’ of around 30. That means that the loan is not in default during that time. After the grace period, the loan becomes in default. Most banks still will not initiate the foreclosure proceedings at this point. They prefer to give the home owner/borrower at least 90 days to get payments current or to work out some sort of payment plan. This gives the borrower some time to recover if a temporary financial hardship has happened, and it also convinces the bank that foreclosure is likely inevitable. Banks only like to start foreclosures as a last resort.

    When the bank finally decides that they need to start the foreclosure the first thing they normally do is file a document with the local court called a Lis Pendens. From this point, it could take up to a year or more before the court orders that the home be sold and that the home owner needs to move out. During this time, the home owner still retains all rights of ownership to the property and they can stay in the home.

    Once the court orders the sale, the foreclosure auction is normally held in a public place, such as the steps in front of the courthouse in the county where the property is located. A notice of auction is usually placed in some public place, such as on the property or in  a local newspaper. Delays in the auction are fairly common, but when an auction is held, either a third party bidder or the lender will be the new property owner at the end of the auction.

    If the bank is the buyer of the property, they may or may not perform needed repairs. On the other hand, homes purchased by independent third parties are usually repaired and brought to marketable condition before being resold to another buyer. For more foreclosure information we recommend that you speak to a qualified real estate agent or attorney. To see a complete list of foreclosure properties in the Orlando and Central Florida area please visit YourOrlandoRealty.com.

  • Environmentally Friendly Homes in Orlando

    Environmentally Friendly Homes in Orlando

    A lot of buyers are becoming very interested about how environmentally friendly their Orlando homes are, from eco-friendly carpeting to energy efficient appliances. If you’re looking for an environmentally friendly Orlando home for sale, here are a few suggestions to help you find that environmentally friendly home.

    Energy Efficient Homes – The most energy efficient, and therefore most environmentally friendly homes for sale in Orlando, will be those that receive the EPA Indoor AirPlus designation. Thus, when searching for an environmentally friendly home for sale in the Orlando and Central Florida area, ask your real estate agent for homes with this designation. If you are searching for an Orlando home that is not new, then you will want to look for a home for sale that are labled Energy Star Efficient. Energy Star Efficient homes are homes for sale that are at least 15% more energy efficient than homes built to the 2004 International Residential Code (IRC), and these homes include additional energy-saving features that typically make them 20–30% more efficient than standard homes.

    Indoor Air Quality – Some builders of new homes for sale in Orlando are using environmentally friendly construction methods and practices. If they do so, then they can qualify for the EPA Indoor AirPlus designation. These designated Orlando homes for sale are designed for better indoor air quality, which means a healthier home environment for you and a more environmentally friendly home for all of Orlando.

    Environmentally Friendly – In addition to the official governmental ratings and designations, there are many environmentally friendly homes for sale in Orlando where the seller has made it environmentally friendly by undertaking other construction or renovations. Examples include installing geothermal heating, solar panels, wind turbines, special energy efficient windows and doors, lighting fixtures and bulbs, and so on. These are all environmentally friendly methods to make your Orlando home the most environmentally friend that it can be.

    If you are looking for an environmentally friendly home for sale in Orlando or the Central Florida area, you need a knowledgeable real estate agent on your side. Please contact us for more information.

  • Closing Costs Explained

    Closing Costs Explained

    Here is an overview of the types of closing costs you may incur on your loan. Some are one-time fees, while others reoccur over the life of the loan. When you apply for your loan, you will receive a Good Faith Estimate of Settlement Charges, and a booklet that will explain these closing costs in detail.

    Loan Origination Fee: This fee covers the lender’s administrative costs in processing the loan. It is a one-time fee, often expressed as a percentage of the loan. The origination fee is typically 1% of the loan, but remember, you can obtain a loan with no origination fee and a slightly higher interest rate.

    Loan Discount: Often called “points”, a loan discount is a one-time charge used to adjust the yield on the loan to what market conditions demand. One point is equal to 1% of the loan amount. This fee is rare when interest rates are low.

    Appraisal Fee: This is a one-time fee that pays for an appraisal, which is a statement of property value viewed by the lender. The appraisal is made by an independent fee appraiser and can cost a standard $300 to $450, or much more, depending on the home’s size and location.

    Credit Report Fee: This one-time fee covers the cost of the credit report that is run by an independent credit reporting agency and is usually about $60-$75.

    Title Insurance Fee: There are two title policies: a lender’s title policy (which protects the lender against loss due to defects on title) and a buyer’s title policy (which protects you). These are the primary closing costs charged by the title company.

    Miscellaneous Title Charges: The title company may charge fees for a title search, title examination, document preparation, notary fees, recording fees, and a settlement or closing fee. These closing costs can sometimes be negotiated.

    Document Prep Fee: There may be a separate, one-time fee that covers preparation of the final legal papers, including the note and deed of trust. This closing cost may also be negotiable.

    Lender Fees: Other lender fees include an underwriting fee, a flood certification fee, an amortization schedule fee, and other miscellaneous fees that should be disclosed by your mortgage lender at loan application. These fees vary dramatically from about $450 to $900.

    Prepaid Interest: Depending on the time of month your loan closes, this charge may vary from a full month’s interest to just a few days’ interest. If your loan closes at the beginning of the month, you will probably have to pay the maximum amount. If your loan closes at the end of the month, you will only have to pay a few days’ interest.

    PMI (Private Mortgage Insurance) Premium: Depending on the amount of your down payment, you may have to pay an up-front fee for mortgage insurance (which protects the lender against loss due to foreclosure). You may also be required to put a certain amount into a special reserve account (an impound account) held by the lender for PMI.

    Beginning of the Escrow Account: Your lender will typically have an account where your property taxes and property insurance will be held. This account will be started with taxes approximately equal to two months in excess of the number of months that have elapsed this year. (If 6 months have passed, they will collect 8 months of taxes.) Your property insurance will be collected one year in advance, plus two months will be kept in your escrow account.

    Earnest Money Deposit: It is important to have an understanding of the earnest money deposit, so you will not be placed in an uncomfortable position when you purchase a property. At the time a written offer is initiated, you will be required by the seller to include a personal check, cashier’s check, or cash. The amount is normally deposited (cashed) into the designated title company’s escrow account upon the offer’s acceptance, and will remain in escrow until the time of closing. This amount is credited to you as a partial down payment and represents your intent to purchase the property. If the offer is not accepted, this amount is returned to you promptly. Depending on the price of the property, you should anticipate a minimum of a $1,000 earnest money deposit. Also, in the event that you do not qualify with a lender for a new loan, the earnest money is refunded to you, provided the sellers are given written notice regarding the lender’s disapproval, and provided you have supplied the lender with all documentation they have requested.

    Title Insurance: When you purchase your home, both you and the lender need a preliminary title commitment that will indicate exactly what recorded liens, encumbrances and recorded easements are currently in effect on the property. The title commitment will also indicate the vested owner of record and any restrictions on the use of the property. Title insurance is, for all practical purposes, required on all property in most states and is normally a seller’s expense. However, the buyer is required to furnish the lender with a lender’s policy showing the lender as lien holder on that property. These charges will be incurred at the time of settlement as a part of your closing costs. When the purchase of the property is closed, and the title company has recorded the necessary documents, the title company will then issue a title insurance policy binder to you and the lender, showing clear title to the property.

    Reminder: For the closing, you must bring a driver’s license and a cashier’s check for the remainder of your down payment, made out to the title company. At the closing, you may sign the cashier’s check over to the title company. If the closing does not occur, you can deposit the cashier’s check back into your own account.

    Closing costs can vary considerable from closing to closing – especially for the buyer whose closing costs include the cost of borrowing the money. For the seller, the closing costs are more consistent and are usually only composed of his/her share of the title company’s closing costs.

    For more information about closing costs at your next closing, please contact us at 407-864-2551.

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