Author: Your Orlando Realty Admin

With so many people talking about short sales these days, we just wanted to give you some short sales information. These seem to be the most commonly asked questions that we receive regarding short sales?

What is a short sale?

A short sale is a transaction in which the lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. In almost all cases, the difference is forgiven by the lender. This will be spelled out by the contract that the homeowner negotiates with the lender.

Why is the number of short sales rising?

Due to the recent economic crisis, including rising unemployment, and drops in home prices in Orlando and other communities throughout the country, the number of short sales is increasing. Since a short sale generally costs the lender less than a foreclosure, it can be a viable way for a lender to minimize its losses. A short sale can also be the best option for a homeowner who is “upside down” on the mortgage, because a short sale may not hurt their credit history as much as a foreclosure or bankruptcy. As a result, homeowners may qualify for another mortgage sooner once they get back on their feet financially.

Can the short sale be closed rather quickly?

Unfortunately, short sales can take from a few months to a year to close. For this reason, short sales are more popular with investors and others who do not need to move in to their new house promptly.

Can the seller make a profit from the short sale?

A seller cannot receive any proceeds from the short sale. Don’t forget that the lender is willing to accept a discount on their loan in order to minimize their loss. In return, the lender will not allow the seller to receive any money whatsoever from the short sale transaction. In fact, lenders also look very closely at other expenses associated with the deal and try to keep those low. The lower the fees and costs are, the more money the lender will receive – and the less the loss will be!

Are short sale houses in bad condition?

Short sale houses are not typically in bad shape like many foreclosures are. In a foreclosure, the homeowner has, in essence, been kicked out and they are sometimes bitter. This can result in damages to the house. But in a short sale, the homeowner is frequently still in the house and therefore tends to maintain the house in reasonable shape. The homeowner also realizes that the goal of conducting a short sale is to avoid other consequences, such as foreclosure or bankruptcy. So they definitely have an interest in keeping it in good enough shape to get a good sale price.

For more information on the short sale process, we encourage you to speak to a qualified short sale realtor or to an attorney at law. At YourOrlandoRealty.com, we can provide this to you. Please contact us today.

Are you looking for an Orlando real estate company? There are hundreds, if not thousands, of real estate companies in Orlando and the Central Florida area. Finding just one Orlando real estate company to work with you in your quest to buy or sell an Orlando home can be difficult. We understand that there are many good real estate companies that you can work with, and we appreciate very much those of you who have chosen to allow us to assist you in your search to buy or sell your Orlando homes.

We at YourOrlandoRealty.com are a part of La Rosa Realty in Celebration, Florida – an Orlando Real Estate Company with nearly 300 real estate agents located throughout Florida and New York. We believe that honesty and integrity are every bit as important as possessing the skills to market a house or to negotiate a purchase or sale price. When you contact us, you are assured that confidentiality is also one of our top priorities.

We are also a licensed attorney at law, who can assist and advise you on any issue that comes up regarding the legal process of trying to close the transaction. Real estate transactions never seem to go as smooth as one wishes, that’s why we are available to you with this service.

We are also an Orlando real estate company that provides you with one of the most advanced real estate websites out there. Our powerful search engine will allow you to search for any home or real estate for sale in the Orlando and Central Florida area. You have the ability to use any number of parameters to help with your search.

So we do hope that the next time you think of an Orlando real estate company, you will think of YourOrlandoRealty.com. Please browse through our website to look at all the Orlando homes for sale. At any time during the process, if you have any questions about the Orlando homes for sale, or about the real estate market in general, please contact us for assistance.

So you are ready to move to the City Beautiful? Welcome to Orlando! People have many reasons for moving to Orlando, including the sunny skies, the golf courses, the outdoor activities, the dining and entertainment choices, diverse culture and interesting employment opportunities. No matter what the reason is behind the move, everyone runs into the same logistical challenges. This article pulls together a variety of resources to help you bypass the red tape and get your new life off to a smooth start.

Neighborhood

Most likely, your first priority is choosing a place to live. Whether you plan to rent an apartment or purchase a home, your search for a home is probably best started by selecting a neighborhood.

Where you live may depend on where you are going to work. Otherwise, you may just be drawn to a specific part of Orlando. Windermere is known for the upscale mansions and homes to celebrities. Dr. Phillips is known as an upscale residential and entertainment area, close to the tourist corridor. Celebration is Disney’s planned community with a combination of homes, business and entertainment. Lake Nona is the newest of Orlando’s upscale neighborhoods which is now the new home of Medical City, an enormous complex of medical facilities which will bring in thousands of high paying jobs and residents. Please visit the communities section at our website www.YourOrlandoRealty.com to get a better idea of the communities and neighborhoods in the Orlando area.

Housing

Once you’ve selected an area or two, take a look at our MLS search engine  to locate homes with the specific details that interest you. This will give you a great idea as to what homes in your preferred neighborhoods, with your specific criteria, are selling for. You then can contact Orlando’s premier real estate and legal team to help you view and purchase the Orlando home of your dreams. Moving to Orlando does not have to be difficult and we at YourOrlandoRealty.com try to make it as enjoyable and stress-free as possible.

Utilities

In Orlando, your electric power will be provided by either Orlando Utilities Commission (407-423-9018), Kissimmee Utility Authority (407-933-9800) or Progress Energy (407-629-1010). Water service is normally provided by your local city. Because of so many people using cell phones these days, along with phone service provided by cable providers, there are not a lot of big companies providing home phone service any more. However, AT&T is still probably the largest provider in Orlando. The primary cable company in Orlando is Brighthouse cable (866-309-EASY). DIRECTV and Dish Network are also popular satellite TV companies.

Employment

Unless you moved to Orlando with a job offer in hand, your next concern will probably be finding gainful employment in our beautiful city. For this, we would encourage you to visit sites such as www.orlandojobs.com, www.orlandosentinel.com and www.craigslist.com.

Transportation

Once you’ve selected a job or school, you’re going to need a way to get there. Orlando is a city widely spread out so you will definitely need a car. It is not a city where you typically can walk from your home to work and play. However, Orlando offers a wonderful city-wide bus service called Lynx. If you’re going to drive, you’ll need to obtain a Florida Driver’s License and register your vehicle with Florida tags. Florida law requires that you get a Florida drivers license within 30 days of becoming a resident of Florida. You are a resident if you do one of the following:

1.  Accept employment
2. Enroll your children in a Florida public school
3.  Register to Vote
4.  File for a homestead exemption
5.  Reside in Florida for more than six consecutive months

We hope this information will help as you move to Orlando. For any further questions or help in your moving to Orlando adventure, feel free to contact us and we will try to put you in touch with the appropriate information sources.

Looking for foreclosure homes in Orlando? You’re not alone. Buying foreclosure homes has been a very popular activity in the Orlando area for several years now. Many factors have contributed to this: banks wanting to quickly divest themselves of their large inventory of homes, investors looking for fixer-uppers, and home buyers who just think that this is where they can find a bargain.

Foreclosure homes in Orlando can still be a bargain. But many of these homes are being gobbled up fast by investors. Keep in mind that many foreclosure homes are not in great condition. Some home owners in foreclosure proceedings fail to take proper care of their homes prior to leaving, some intentionally try to get revenge on the bank by destroying parts of the house, and many banks fail to properly take care of a home once they are in possession of it (banks are not in the business of maintaining homes!).

So be weary of the “too good to be true” foreclosure homes with ridiculously low prices. If you do see one that you like, be sure to talk to a qualified real estate agent who can assist you in asking questions. And we always recommend hiring a home inspector to go through the home before you make an offer to see what really needs to be done to bring the home back to where you want it. Some defects will be obvious to you. However, other defects in foreclosure homes will not be so easy to detect.

The bottom line is that many Orlando foreclosure homes can be a great bargain – while others will not be. Make sure you hire the right people to help you answer all the questions. For a full list of all Orlando foreclosure homes listed for sale visit us at YourOrlandoRealty.com or give us a call at 407-864-2551.

Orlando and Central Florida have some of the most beautiful, upscale luxury homes in the entire country. These glamorous and elegant estates abound throughout the Central Florida area. With so many luxury homes in Central Florida to choose from, it can be difficult knowing where to start. Unlike many cities that have luxury homes in just one or two parts of town, luxury homes in Orlando and Central Florida can seemingly be found in every community – from Lake Mary to Winter Park to Windermere to Lake Nona to Dr. Phillips to Celebration to Downtown Orlando.

And these beautiful Central Florida luxury homes come in many different types and settings – golf course, waterfront, gated, un-gated, custom, semi-custom, mediterranean, colonial, and more. Many luxury homes can be found in the quiet corners of Central Florida with very little attention ever given to them. Other luxury homes in Central Florida can be found in world-renown neighborhoods with famous celebrities and athletes counted among their residents. In fact, the Central Florida neighborhoods of Isleworth and Lake Nona are considered by many to be among the most revered luxury home communities in the entire world.

Whatever type of luxury homes you are seeking in Central Florida, you need to start with a good website search engine and a good Central Florida area real estate agent. The powerful search engine at YourOrlandoRealty.com can be customized to aid your search to the specific features and locations you desire. Once you get an idea as to what’s available, our knowledgeable real estate agents can help you from there. Not only are the real estate agents at YourOrlandoRealty.com  knowledgeable about the luxury homes of Central Florida, but we also have a licensed Florida attorney ready to walk with you through the process. Buying an Orlando area luxury home can be a complicated legal transaction and closing – make sure you are being advised by competent professionals.

For more information on luxury homes in Central Florida please contact us today.

Since the housing market bubble burst, investors have been scrambling to scoop up as many low-priced foreclosure homes as possible. Indeed, there are many advantages to buying a foreclosed property – but there are many disadvantages, too. Instead of putting all of their eggs in one basket, savvy investors should investigate the possibility of buying short sales. Short sales bring many distinct advantages to the table that foreclosures simply do not. The pros include attractive selling prices, better conditions, access to information about the home, and a quicker overall process are some of the chief benefits of buying a short sale.

Competitive Price

Although it is not always the case, many short sales come along with competitive low price tags. Since the bank is already agreeing to take a loss on the home, the asking price is usually far below market value. Without a doubt, competitive prices are the most-cited reasons for investors to look into short sales. The less money that you have to part with from the get-go, the higher your profitability is likely to be. By becoming well-versed in how the short sale process works, investors can make some very good deals on such transactions.

Better Condition

Investors who have purchased many foreclosures in the past are all too familiar with the mess that is often left behind with such properties. Disgruntled home owners often trash their homes before banks officially take possession of them. In turn, investors must spend considerable amounts of time and money on repairs in order to make such properties marketable. Since home owners are involved in the short sale process themselves, the odds that they will ransack their own home is much lower. Instead of having to move out in an unhappy hurry, sellers usually stick around to see the process through – and they keep their homes in much better shape!

More Information

Buying a foreclosed home from a bank often leaves a lot of blank spaces for investors to face. After all, the bank hasn’t been living in the house – it was merely supplying the financing for it. There is no personal connection there, so the investor cannot get information about the home’s unique history. With a short sale, though, an investor can usually still pick the brains of the seller in order to find out less tangible, but still vital, information about the house.

Less Negotiation

When a bank tries to market a foreclosure, it still has the tendency to haggle back and forth with potential buyers. After all, the foreclosure process has cost the bank a lot of money that it would like to recoup. During the short sale process, most of the heavy-hitting negotiating occurs before the investor even enters the picture. The bank and the seller come to an agreement about what the property’s asking price will be. While this may leave less “wiggle room” for an investor, it also spares him the sometimes arduous experience of going through a long, drawn-out negotiation phase.

Investors Can Benefit from the Short Sale Process

Although the advantages and benefits of a short sale may not be readily apparent to an investor, the truth is that they are very real. It is important to bear in mind, though, that not all short sales bring these benefits to the table. Investors should take their time while investigating short sales in their local areas in order to find the ones that have the most reasonable terms. Finding a short sale that will allow for exceptional profitability is perfectly possible. Investors simply need to do a little homework before delving into the process. This homework should start with finding a qualified real estate agent to walk you through the process.

To view short sales in the Orlando area currently on the market, please visit www.YourOrlandoRealty.com. Or, for more information on the benefits of short sales, please contact us today for more information.

As a real estate agent, picking a real estate brokerage company to associate with is a very important and difficult decision.  Whether you are a new agent just getting started in the business or an established agent looking to make a change, you are probably faced with the same challenges and decisions. When looking for a broker to partner and associate with, it is natural for real estate agents to be thinking “what’s in it for me in this potential relationship?”

La Rosa Realty of Celebration, Florida, is an experienced real estate brokerage that understands what it takes for an agent to be successful. Adapting to an ever changing real estate market place has much to do with the success of most agents. Change is not always an option, but at times, change is a necessity. For many reasons, we believe that La Rosa Realty is the best realty company in Central Florida.

La Rosa Realty is not just another so called 100% commission real estate office, providing little or no services with ultimately higher costs. On the contrary, it is more than commission plans that attract agents to the company. La Rosa agents receive the most efficient software technology in the industry. In addition, its agents receive ongoing training by one of the most respected real estate coaches in the industry, David Knox. Last but not least, you will receive support from your broker live and in person. He’s an email or phone call away.

Looking for a home or real estate for sale in Orlando or the Central Florida area? You’re not alone. Orlando real estate sales are now picking up again and the buyers are coming back. It is still considered a buyers market, with the low prices, good inventory and low mortgage rates. But the better homes are not staying on the market for long.

The positive upswing in the Orlando real estate sales market is a good indicator that things are starting to get back to “normal” in Orlando. If you are interested in buying a home or real estate in Orlando, then now is the time. Searching for Orlando real estate sales, like in any other market, can be enjoyable, yet confusing. For this reason, we have tried to make the real estate sales search as friendly as possible.

It all starts with our powerful MLS search engine at YourOrlandoRealty.com. You have the choice of plugging in the parameters you seek, or you can just take a look at a map of your preferred neighborhood to see what is currently available. Either way, you are going to find homes that appeal to you. Or, if you prefer, we can conduct your Orlando real estate sales search for you. Once we have narrowed down your search, we can provide you with more details on the homes, as well as assist you on the real estate purchase and closing process.

Once we have identified some homes that interest you, then the real work starts. Because it is a buyers market, most prospective buyers believe that they can buy a great home for pennies on the dollar. That’s not always the case. Although prices are low, the best homes still sell pretty quickly and demand good prices. As you navigate the Orlando real estate sales market, you will see that many of the homes and properties are currently in foreclosure or are being offered through short sales. Many of the foreclosure and short sale homes are not in very good condition. Many homeowners who were forced to move out because of a foreclosure have stripped the home of all appliances and some homeowners have even intentionally destroyed parts of the homes out of spite to their lenders – leaving many foreclosure homes in bad shape. And many short sale homes have incurred the same fate if the owner has already moved out. If you are an investor looking for a fixer-upper this may not be a problem.

That doesn’t mean, though, that there are not bargains to be had in the Orlando real estate sales market for those seeking a move-in-ready house. And not all foreclosures and short sales are inferior homes. If you can find a good real estate agent to guide you through your home search and the Orlando real estate sales market, you will be one giant step ahead of the game. Our real estate agents at YourOrlandoRealty.com are very knowledgeable and can help you to weed through the myriad that is the Orlando real estate sales market.