Author: Your Orlando Realty Admin

Ever think you would like to retire in Orlando? You’re not alone. For years now, many people have dreamed about the warm winters and abundant outdoor activities that have made Orlando and Central Florida a favorite place to retire. Even before the Walt Disney Company made Orlando one of the fastest growing cities in the United States back in the early 1970‘s, Orlando was a popular spot for retirees.

If you are searching for retirement housing you will find many different options and styles in the Orlando area, whether it’s in a gated community or club, an active adult community, an assisted living community, a mobile home park, or an over 55 community for active adults. It can be easy to find what you are looking for in Central Florida. You may be looking to retire in the city, or perhaps in the suburbs, or maybe even in one of the small towns outside of Orlando. You may be looking for a home on a golf course where you can hit the greens all day. You may want to find a home on a lake where you can fish and boat all day. Or you may want to find a home close to the entertainment and dining establishments near the tourist areas. With an abundance of amenities like shopping malls,  hospitals, and entertainment, everything one needs for their retirement can be found in Orlando and Central Florida.

Many of the people who retire to the Orlando area move here from another state. The comfortable winter weather is a big reason. The plentiful outdoor activities is another. An additional bonus for those retirees with grandchildren is being located in the number one family vacation spot in the world. What grandchild or friend doesn’t want to come to Orlando to visit?

An important factor for anyone to consider when retiring is the cost of living. Fortunately, Orlando has one of the lower costs of living out of all the other similar retirement locations throughout the country. In fact, the median home value in Central Florida is less than the national average, making it an affordable place to buy a home. And don’t forget taxes! Florida has no personal income tax. This is a major factor to most when choosing where to retire.

For more information about retiring in the Orlando area, please contact us today.

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 with any questions you may have.

There are probably more celebrity homes in Orlando than any other city in the southeastern United States. With it’s nearly perfect year-round weather, world class golf courses, dining and entertainment venues, a world-class airport and no state income tax, Orlando has become a mecca for celebrities buying homes.

Celebrity homes can be found in all parts of Orlando, but the majority seem to be concentrated in a few neighborhoods. Leading the way for celebrity homes has to be Isleworth, the beautiful gated-community located in Windermere, on the chain of lakes. Isleworth has been made world famous not only by it’s country club, which has been ranked number one in the world, but by its residents. Tiger Woods has called Isleworth home, as have many professional golfers including Mark O’Meara, Stuart Appleby, Robert Allenby, Charles Howell III, Lee Janzen and Paula Creamer. NBA stars such as Shaquille O’Neal, Grant Hill and Dwight Howard have also lived in Isleworth. Other athletes, from baseball hall of famer Barry Larkin and Ken Griffey Jr. to actor Wesley Snipes also have been Isleworth Residents.

Other celebrities have called Windermere home at some time. Boy band groups N’Sync and The Backstreet Boys, and former manager Lou Perlman have also resided there. Baseball’s Johnny Damon grew up in Dr. Phillips and has resided in Windermere for some time.

Just a mile or two away from Isleworth, in Orlando’s Dr. Phillips neighborhood, lies Bay Hill, home to one of the most popular PGA tournaments in the world. Bay Hill residents, past or present, include Arnold Palmer, Payne Stewart, Scott Hoch, and Dow Finsterwald.

In another area of town, just east of the Orlando International Airport, sits the Lake Nona Country Club. Lake Nona residents have included many of the world’s best international golfers, such as Greg Norman, Nick Faldo, Ernie Els, Retief Goosen, Sergio Garcia, Annika Sorenstam, Graeme McDowell, Justin Rose and Ian Poulter.

Other celebrities and athletes have called the Orlando area home. It’s not just a coincidence that these celebrities have lived here. Orlando offers so much in the way of weather, entertainment, and a world-class airport. Orlando truly is one of the most beautiful places in the world to live.

For more information on homes in Orlando, please contact us today.

Manufactured homes can be found throughout the Central Florida area. Manufactured homes, sometimes referred to as mobile homes, are a type of prefabricated housing that is mostly put together in factories and then transported to the property site. Manufactured homes are required to have a wheeled chassis permanently attached. This differentiates manufactured homes from modular homes. Modern manufactured homes, particularly double-wides, tend to be built to much higher standards than their predecessors. This has led to a reduction in the rate of value depreciation of many used units.

As you drive out to the Orlando suburbs, you will see many different manufactured homes. These homes and neighborhoods are most popular with retirees or snowbirds who are either living here in Central Florida for a few months during the year or who are on a budget. In fact, many people who hear the words ‘manufactured homes’ tend to think of Central Florida first.

Manufactured homes have given may people the opportunity to move and retire to Central Florida. And with the increased quality of these manufactured homes, it can be difficult, at times, to distinguish them from any other type of Orlando or Central Florida home. Please contact us today so that we may provide more information on manufactured homes.

Rental homes in Central Florida are increasing in numbers. Once only found in the Disney area for those foreigners and “snowbirds” looking to get away for a temporary period of time, rental homes are now the norm for many full time Orlando and Central Florida residents. With many people being displaced by the economic downturn over the past few years through foreclosures and short sales, many people are now preferring to live in rental homes.

Even those who were not affected by the economic downturn have concerns about the stability of the housing market at this time. These people are insecure about spending their savings on a home which may or may not be worth what they paid for it a few years from now. For these people too, living in a rental home in Central Florida is the way to go.

Prior to a few years ago, rental homes were a little difficult to find in the Orlando area. Especially, in the communities outside of the Disney and tourist corridor. However, today, rental homes can be found in all parts of Central Florida. And these homes can range from the small, cozy two bedrooms in Winter Park, to the mega mansions in Windermere. It doesn’t matter!

With the high availability of rental homes all over Orlando and Central Florida, rental homes are increasingly popular. However, with the real estate market stabilized and back on the upswing, rental homes do not provide the investment value that purchasing offers. So, if you are looking for a temporary home, the rental homes of Central Florida may be your best bet. But if you are looking for the best investment and stability, we believe that buying a home is what you need to consider.

Either way, please contact us so that we may explain your options in more detail.

Home prices in Orlando and Central Florida have stabilized and now is the time to buy! Whether you’re buying a home to live in or just as an investment, homes are being foreclosed at a record pace and you can now buy a foreclosed home in Central Florida at a huge savings.

The real estate market in Orlando and Central Florida had been going down for several years now, but most believe that the market has bottomed out. In fact, most agree that the market is now heading back up. The consequences of all this is that we now have an enormous number of foreclosed homes in the Central Florida area. These foreclosed homes are now providing Central Florida home buyers with incredible opportunities. Whether you are looking for a primary residence, or an investment home, the foreclosed homes on the market in Orlando and Central Florida offer bargains to many.

However, some of the foreclosed homes here in Central Florida are not in very good condition. Many of the homeowners were forced to move out at some time during the process that the home was being foreclosed upon. This forced departure does not always sit well with some homeowners. As a result, there are always some people who destroy homes before leaving –  appliances and fixtures may have been removed, walls and carpets vandalized, and other actions which lower the value of the homes. Normally though, most foreclosed homes in Orlando and Central Florida will sell even well below the market value of the home, damages and all. These  foreclosed homes can be an investor’s dream.

But not all foreclosed homes are in sub-par condition. Many homes are in well-kept condition and you would never know that the home was once foreclosed upon. In fact, many of the poor-conditioned homes have been properly repaired by the banks or purchasers to bring it back to where it should be. So, for those of you looking for a ready-to-move-into home, you may find that some foreclosed homes in Central Florida are the way to go.

When searching for a foreclosed home in Orlando or the Central Florida area, it is always wise to contact a knowledgeable real estate agent to help guide you through this process. Otherwise, the search could be daunting. But a knowledgeable real estate agent can show you exactly what to look for. So if you are looking to buy a home in Orlando or the Central Florida area, consider taking a look at the foreclosed homes in your favored neighborhoods. Please contact us with any questions you have.

The Orlando real estate market is ideal right now for buyers to finally purchase their dream home. The Orlando real estate market has been one of the biggest boom markets in the country since the early 1970‘s. Upon the opening of Walt Disney World back in 1971, Orlando and Central Florida became the fastest growing region in the United States. The Walt Disney Resort turned this area into the number one tourist destination in the world. With that, came jobs and thousands of permanent residents, who discovered the beauty opportunities of Orlando.

The Orlando real estate market continued growing well into the 21st century. But when the national economy began suffering around 2006, so to did the Orlando real estate market. Like most other real estate markets around the country, the Orlando real estate market took a plunge for the next few years. Fortunately, the home prices in the Orlando real estate market have now stabilized and appear to have bottomed out. In fact, many experts now believe that prices are on the way up.

So, now is probably the best time in recent memory to purchase a home in the Orlando real estate market. Whether you are looking to buy a primary home or buy an investment home, the Orlando real estate market is now a perfect opportunity. Some reasons for this thought are as follows:

Great prices. Home prices in the Orlando real estate market has fallen tremendously over the past seven years, but now appear to have stabilized. There are many wonderful opportunities in this market.

Home sales volumes are increasing. This may show that the Orlando real estate market recovery is underway.

High inventory levels. Conditions are ideal for buyers to find their dream homes here in the Orlando real estate market. Inventory of homes is high for all types of homes. But keep in mind that as sales volumes increase, inventory levels will shrink and prices will start to rise again.

Low mortgage rates. Mortgage rates are still at the lowest levels since the 1960s. Buyers can get more home for the money, which is a perfect scenario for families looking to upsize.

Long-term-growth. Long-term economic and demographic trends benefit Orlando and the state of Florida. By 2012, economists believe that Florida will be the third most populated state in the country. Florida has been one of the fastest growing states in the U.S. for each of the past seven decades, with much of that growth occurring in Orlando and Central Florida. These trends are positive indicators for the Orlando real estate market growth.

Migration patterns. Even with a slowdown in the nation’s economy, expert projections see Florida’s population continuing to grow, bringing thousands of new buyers and sellers into the Orlando real estate market for years to come. As a favorite retirement destination, Orlando and Central Florida will benefit from these new residents.

Diverse economy. Orlando’s economy is extremely diverse – from the service industry to the manufacturing industry to the agricultural industry – supporting local, national and international companies. This diversity will help the Orlando real estate market stay strong for many years to come.

A great lifestyle. Let’s not forget the things that bring people to Orlando in the first place, and will continue to attract them – beautiful nearby beaches, world class attractions, countless outdoor activities, a great job market, great weather, and no state income tax! With all this, Orlando continues to be one of the greatest places in the world to live and the Orlando real estate market is as great as ever!

Contact us today to learn more about the real estate market in Orlando and Central Florida.

The best real estate company is going to mean different things to different people. There are countless real estate companies just in the Orlando and Central Florida area. And it is important to understand that a real estate agent is going to have a different opinion than that of a client who wishes to buy or sell a home. So it is important to understand the different criteria.

A real estate agent looks at how the real estate company fits around the agent’s needs. What percentage commission will be paid? How good is the training? What is the company image? And so on. But for the home buyer or seller, it is completely different. It is important to understand that a real estate company consists of agents who are independent contractors who run their own business. It is the agent that you will be relying on for professional expertise, not the real estate company. As stated above, the real estate company aids the real estate agent in any manner that the agent needs, but ultimately it is the agent who the client relies on.

Even within a large national company, each office is independently run. So they are all different. For this reason, it is nearly impossible to identify a great company by name alone. What makes a real estate company the best real estate company is really the real estate agents working with that company. So when you are seeking the best real estate company, you will find the answer once you find the best real estate agent for you.

With all of the short sale houses on the market in Orlando, we are often asked, “Where do we start?” It’s really quite simple. If you are looking for any types of houses for short sale in Orlando or the Central Florida area, you should first start with the Multiple Listing Service (MLS). The MLS can be accessed by any realtor and includes every house for sale in the Orlando area, short sale and non short sale.

If you can find a good website with a good search engine, like www.YourOrlandoRealty.com, you will be able to locate every short sale house in Orlando by yourself, with the specific criteria that you are looking for. When you conduct your short sale search, our powerful search engine will allow you to search only for short sales, therefore eliminating all the other properties that you are not interested in.

Once you find some short sales that interest you here in the Orlando area, please contact us and our realtor/attorney can walk you through the entire process and explain the entire transaction to you. Short sale houses can be a bit more difficult to buy, but in the end, if you can buy one, it will be worth it. Don’t let the process or the legal procedures concern you. If you are well represented, your realtor will take care of all of it.