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Orlando, FL Real Estate News

By Armando Rodriguez, Orlando Homes 4 Sale, Real Estate Broker-GRI
(QUEST REALTY SERVICES)
When making an offer on a property in the Orlando, FL area, the seller will usually want some sort of proof that you are able to buy it. If the seller is considering two offers, s/he will probably give more weight to the more qualified borrower.A borrower that is pre-qualified has provided a mortgage broker or a lender with information about their income, expenses, assets and liabilities. A credit report may also be pulled. Having been pre-qaulified by a lender does not put you in a stronger position than being pre-approved, better proof of your ability to buy the property.For more info contact your mortgage broker who'll be able to help you with your loan needs.
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By Armando Rodriguez, Orlando Homes 4 Sale, Real Estate Broker-GRI
(QUEST REALTY SERVICES)
As a buyer, in the Orlando, FL area, looking for a property, you have a good chance of getting your offer accepted by being as prepared as you can be.That means you should get pre-qualified or pre-approved for a mortgage.Being Pre-approved puts you in a much stronger positiion than say being pre-qualified.A pre-approved borrower has provided a lender with written evidence of income, expenses, assets, liabilities and credit. The info is verified by a lender. Thus much of the paperwork for this borrower's application has been completed. In most cases the only factors for final approval lie with the property. It must appraise in line with the loan amount. With a pre-approval you may be able to close quickly.
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By Simon Conway
(Orlando Area Real Estate Services)
When it comes to Bay Hill Real Estate in beautiful South West Orlando, it is rare to find a bargain - especially one that is not foreclosure or pre-foreclosure. Afterall, who wants to have to deal with the Banks?Anyway, this particular piece of prime Bay Hill Real Estate could very well be the answer to your desires.More than 5,500 square feet for less than $1m! This incredible home is being offered at substantially below it's appraised value. THIS IS PRICED TO SELL!! 5,500 square feet in Bay Hill for this price?? This is NOT a joke! This home is being marketed at $250,000 BELOW appraised value and it is move-in condition.DO NOT DELAY because this will not be out there for long. Appraisal available for serious enquiries. New A/C units and a brand new pool and spa surface and tile.It's t...
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By Armando Rodriguez, Orlando Homes 4 Sale, Real Estate Broker-GRI
(QUEST REALTY SERVICES)
In the Orlando, FL area when comparing two houses and one is new while the other is old, which one would you buy?There is no right or wrong answer for that question, but your response will most like reflect your wants and needs. For many first time buyers, the choice of home is easy: get a new home that fits the budget. One of the advantages of new homes is that they tend to have fashionable designs and trendy colors. They also look clean and may have modern furnitures and appliances that go with it. Plus, you can be very, very sure that no one has live there before.Many new homes may be made with poorer materials especially if you get one that is a cookie cutter home. Home builders would want to keep a reasonable profit by saving on the cost of materials used in the construction of the...
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By Armando Rodriguez, Orlando Homes 4 Sale, Real Estate Broker-GRI
(QUEST REALTY SERVICES)
In the Orlando, FL area you should rent if the following situations are true to you: You job may require you to travel extensively and you are not sure where your next assignment will take you. Home ownership is everyone's dream. It's the kind of dream that comes with a high price tag. you've got to be sure of your finances if you don't want the bank to foreclose your home. It can happen. You can't find a property that meets your requirements under the budget you have set in the area that you wanted. Maybe you should stretch your budget. Maybe you should look someplace else. Or, maybe you should just continue renting while you wait for the right one to suddenly pop-up in the market.Compare the cost of buying a house or apartment  with the cost of renting. If renting is lower it may be t...
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By Armando Rodriguez, Orlando Homes 4 Sale, Real Estate Broker-GRI
(QUEST REALTY SERVICES)
Lenders are most concerned about a borrower's ability to maintain a certain level of income and self-employed borrowers many times have the ability to change their income based on factors they control. Loan underwriters have the discretion to evaluate each case on its own merits. The biggest point is in the documentation requirements. Normally, a borrower would provide pay stubs and W-2s to prove income. But a self-employed borrower will need to provide two-years' personal tax returns and business tax returns. Even though a full doc loan will provide the best interest rate, with most loans like those listed above, it may make sense to avoid all the complications by applying for a stated income loan. This type of loan allows the borrower to simply state the amount of income he or she mak...
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By Hojin Chang
(Coldwell Banker)
Joan & Harry of Orlando will have their home featured in the next episode of HGTV’s “My House is Worth What?” The home reportedly is located in North Lake Park in the Lake Nona area. The show will air 7:00 PM on October 31, 2007.
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By Armando Rodriguez, Orlando Homes 4 Sale, Real Estate Broker-GRI
(QUEST REALTY SERVICES)
A corporation is a legal entity, created under state law, consisting of one or more shareholders but regarded under law as having existence and personality separate from such shareholders.A partnership is an association of two or more persons who can carry on business for profit as co-owners, as governed by the Uniform Partnership Act. A partnership may hold title to real property in the name of the partnership.A trust is an arrangement whereby legal title to property is transferred by the grantor to a person called a trustee, to be held and managed by that person for the benefit of the people specified in the trust agreement, called beneficiaries.In cases of corporate, partnership, or trust ownership , the title company will require thatit be furnished legal documents so that it may sa...
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By Armando Rodriguez, Orlando Homes 4 Sale, Real Estate Broker-GRI
(QUEST REALTY SERVICES)
Joint Tenancy is a form of holding title to property owned by two or more persons, who may or may not be married, in equal interest, subject to the right of survivorship in the surviving joint tenants. Title must have been acquired at the same time, by the same conveyance, and the document must expressly declare the intention to create joint tenancy estate. When a joint tenant dies, title to the property is automatically conveyed by operation of the law to the surviving joint tenants. That being the case, joint tenancy property is not subject to disposition by will.
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By Armando Rodriguez, Orlando Homes 4 Sale, Real Estate Broker-GRI
(QUEST REALTY SERVICES)
Sole ownership in Orlando, FL may be described as ownership by an individual or other entity capableof acquiring title.Examples of sole ownership are:A single man or woman, an unmarried man or woman, a married man or woman as his or her sole and separate property.The company insuring title will require the spouse of a married man or woman acquiring title to specifically disclaim or relinquish his or her right, title and interest in the property.
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By Armando Rodriguez, Orlando Homes 4 Sale, Real Estate Broker-GRI
(QUEST REALTY SERVICES)
There are several ways to own property, one of them is, Tenancy in commonTitle to property held by two or more persons, in which each one has an undivided interest in the property and all have an equal right to use the property, even if the percentage of interests are not equal or the living spaces are different sizes. Unlike "joint tenancy," there is no "right of survivorship" if one of the tenants in common dies, and each interest may be separately sold, mortgaged or willed to another. on the other hand a joint tenancy interest, passes automatically to the survivor, upon the death of a tenant in common there must be a probate of the estate of the deceased to transfer the interest in the tenancy in common.Stay tuned for other ways to own property.
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By Armando Rodriguez, Orlando Homes 4 Sale, Real Estate Broker-GRI
(QUEST REALTY SERVICES)
After doing a few for my personal investments, I've found that they're not that imtimidating. Talk with your advisors to see if a 1031 exchange is right for your needs.Put the property being relinquished on the market.  The exchanger will need to disclose the intent to complete an exchange to any buyer.The Exchanger enters into a contract with the Buyer for the sale or exchange of the Relinquished Property. Open an escrow account for the Relinquished Property and coordinate with the Facilitator. The Facilitator prepares the exchange agreement and coordinates with the escrow holder to closing as the first part of a tax deferred exchange. Important: The exchange agreement must be in place and signed by all parties prior to closing. Additionally, all earnest money deposits should be placed...
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By Steve Glose, TRC, CIPS, 407-616-7286, Orlando Real Estate, Orla
(Keller Williams Legacy)
We have all read the news papers and seen the nightly news on how bad the Real Estate market is. While most people fear for the worst, the smart Buyers are out purchasing properties at very good prices. The media would have you believe that buying or selling a home now is a bad decision. While we all know the market is down and sellers are getting less for their homes, they are also paying less when they become buyers.If we look back 2 years when prices where hi, Sellers may have made a lot of money selling but they also payed more for a home when the purchased. The net results are the same in a slow market. There are some great prices on homes in the Central Florida area and by sitting and waiting, you will miss out on some wonderful deals. The Smart investors are grabbing up all these...
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The Dr. Phillips Rotary Club will be hosting the inaugural “A Taste of Dr. Phillips” event on Sunday, November 4, 2007 at the parking lot of CNL Bank on the corner of Sand Lake Rd. and Dr. Phillips Blvd. Hours for the event are 2 PM til 5 PM and admission will only cost $50 per person. Proceeds will benefit the Dr. Phillips High School Scholarship Fund, the Dr. Phillips Library, the Dr. Phillips Hospital, and the Dr. Phillips YMCA. Food and drinks will be provided by the finest restaurants in SW Orlando: Tang’s Thai Cuisine, Timpano, Vines Grille, Fleming’s, Jeffrey’s, Melting Pot, Moonfish, Rice Paper, Roy’s, Samba Room, Amura, Antonio’s, Bonefish, Cariera’s, and Cedars. For more info on this event call 407-415-6676.
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According to the Orlando Business Journal, the Dr. Phillips Foundation just announced $6 million in grants and pledges for local non-profits in the area which includes: Children's Home Society of Florida, Central Florida Council of the Boy Scouts of America, and the Orlando Opera Company.So far in 2007, they have pledged $11.5 million and continue to be an organization that really helps out the local community.
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By Hojin Chang
(Coldwell Banker)
A List of Southwest Orlando Zip Codes: Dr. Phillips 32819, 32836 Windermere 34786 Metrowest 32835 Gotha 34734 Ocoee 34761 Winter Garden 34787 Clermont 34711 Williamsburg 32821 Hunters Creek 32837 Celebration 34747
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By Hojin Chang
(Coldwell Banker)
Properties are taking longer to sell due to an oversupply and falling demand. As of July 7, 2007 the zip code which encompasses Bay Hill and the Sand Lake Road area has doubled in inventory of homes for sale with the number of homes selling declining at the same time. As a result there are 24 months of inventory on the market and the average price per foot has shown a decline as well. The average days on market has also increased by 25% in the past year. It's a great time to buy in this zip code as the National Association of Realtors predicts a rebound in 2008.
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By Armando Rodriguez, Orlando Homes 4 Sale, Real Estate Broker-GRI
(QUEST REALTY SERVICES)
When you receive an offer from a buyer in the Orlando , Fl area, take some time to carefully review the offer and respond confidently within the timeframe specified by the offer (typically a few days). Avoid the temptation to give a knee-jerk response such as taking offense at a lowball offer and rejecting it outright. Instead, you could respond to a lowball offer with a counteroffer that sticks close to your original asking price. Conversely, don't accept an above-asking-price offer without reviewing all the terms of the offer to make sure the buyer isn't asking for a condition that you're not willing to accept. Beware, many will ask you to pay part or all of their closing costs.
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By Armando Rodriguez, Orlando Homes 4 Sale, Real Estate Broker-GRI
(QUEST REALTY SERVICES)
In Orlando, FL if you've set an appropriate asking price and employed a good marketing strategy, it won't take long for interested buyers to start contacting you to schedule a walk-through of your home. You need to be as flexible as possible in accommodating these buyers. You've got to make it as easy as possible for potential buyers to see your home. If you make it cumbersome and make them wait too long, they could move on to the next property. Avoid trips out of town and keep your home as clean and clutter-free as possible so it's staged for buyers at all times.
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By Christopher Myers, Greater Orlando and Central Florida Real Estate
(Orlando Property Group)
Enjoy a small-town atmosphere at Baldwin Park, in Orlando!Step back in time to Baldwin Park, a new, "traditional neighborhood" planned community with a friendly, old fashioned, small town ambience, and is located just minutes away from downtown Orlando, Florida! Baldwin Park boasts beautiful parks and common areas, with wide sidewalks, which are ideal for pedestrians to enjoy the warm Orlando, Florida weather.  There are many swimming pools and fitness centers as well.  At the heart of it all is the downtown community center with restaurants, bars, quaint boutique shops, grocery, coffee shops, old fashioned barber shop and more!Baldwin Park is close to Interstate 4, the GreeneWay (417), the East-West Expressway (408), and Orlando International Airport is only minutes away!  This means y...
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