Buyers have a large selection of affordable homes to choose from.

The good news is even though the tax credit is ending buyers have a large selection of affordable homes to choose from throughout Central Florida. I expect the increase in homes sales compared to last year to continue over the next several months.

First-time home buyers, investors and purchasers seeking a vacation home in the Orlando-Kissimmee area will not be disappointed with the inventory available. Currently there are over 3,000 single family homes listed in Orange and Osceola County.

Even though many buyers have to deal with multiple offer situations, highest and best request, appraisal issues and short sale delays, they are determined to take advantage of the low prices and fantastic values being offered.

You may have missed the tax credit but you do not have to miss out on purchasing an affordable home. Give me a call I have over 3,000 homes to show you.

Find an open house this weekend

For as long as there have been real estate agents there have been open houses. Open houses are a good way for buyers to see what is available in their area. Usually open houses are scheduled on the weekend as a convenience for buyers who have little time during the week to view homes.

There are a number of ways a buyer can find an open house being held this weekend or an upcoming weekend in Central Florida. A majority of real estate agents still advertise their upcoming open houses in the local paper. For example our office advertises upcoming open houses in the Orlando Sentinel. Buyers can also find open houses by visiting our company open house search page. The best way to find upcoming open houses in my opinion is to contact me. I have access to the MID-Florida MLS which allows me to search for upcoming open houses being held by any member of the MLS.

If you are interested in visiting open houses this weekend or would like to find a house give me a call.

Kissimmee villas for sale

Buyers interested in purchasing a villa located in Kissimmee will be pleased to learn that there are several Kissimmee villas for sale right now in a number of communities. These villas are of various sizes and are priced up to $300,000.

Nearly 20 communities have villas for sale right now. These communities include

• Essex Park Villas
• Marbrisa Villas
• Victoria Park
• Country Cove Villa
• BVL Silver Park Villas
• Las Palmas Villas
• Shadow Bay Villas
• Carabbean Villas
• BVL Pine Island
• Villas at Seven Dwarfs
• Heritage Key Villas
• Marisol
• Lago Mesa Villas
• Remington
• Cypress Reserve Villas
• Villas of Emerald Lake
• Lake Marion Resort
• Tuscany Preserve
• Solivita

You will be able to choose from villas offering many features that include villas that are in gated communities, on the golf course, in communities with fitness centers, community pools, and tile floors plus zoned for short term rental.
 
Additional the location, location, location of these villas are excellent as they are near all the major Orlando area attractions, theme parks, airport and shopping. Travel time is also convenient with many of the villas being close to the Florida Turnpike, 417, Osceola Parkway, John Young Parkway, and other major roadways.
 
Call me at 407-304-0255 to receive a list of villas or to arrange to see any of the property currently for sale.

How many homes for sale in Orlando are priced between $50,000 & $99,000?

Everyone is looking for a nice home at a great price these days and with good reason. There are thousands of homes for sale throughout Central Florida being offered at list prices as low as we have seen in years.

In Orlando alone there are over 1300 homes listed for sale priced between $50,000 and $99,000. Included in the 1300 are homes, condos, and townhomes. The majority of these Orlando homes are short sale or REO properties.

Homes available at these affordable prices are not just found in Orlando. Buyers can find these amazing deals throughout Central Florida.

Buying foreclosure property

The increased sales that my office has enjoyed this year, over last year, is in large part due to the number of persons interested in buying foreclosure property. We receive calls and walk-ins daily from those who would like to receive a free list of foreclosures or to learn about the process involved with buying a foreclosure. Our successes are because of our ability to help them find the right property, negotiate a successful contract and close the transaction in a timely manner.

Finding the right foreclosure property

There are over 4500 REO-bank owned homes listed for sale right now and another 4900 that are under contract. With so many properties on the market and more being listed every day, our job includes assisting the buyer with narrowing down their search. We will ask a series of questions that help define what the buyer is really looking for.

• Do they want to buy a home, condo, townhome or villa?
• Are they only interested in a specific county, city or town?
• Do they have a maximum price they are willing to pay for the right house?
• Are there size requirements, the number of bedrooms, and the number of baths that are important to the buyer?
• Are they concerned with the condition of the home or would they be interested in viewing fixer-uppers?

Making the offer to purchase

Once the buyer has viewed a property that they are interested in they will want to make an offer. As part of the offering process we will provide them with information that they can use in deciding on their offer price and terms. When a buyer makes an offer on a foreclosure-bank owned property in our area they need to be aware that:

• Bank owned listings will often receive multiple offers.
• Multiple offers often result in a sales price higher than the list price.
• Banks will often ask the buyer(s) for their highest and best offer.
• When the buyer successfully negotiates a contract with the bank they will be required to review, initial and sign a number of bank addendums.

Closing the transaction

By signing the contract and addendums the buyer has agreed to meet specific timelines and conditions of the sale. A successful closing requires that our agents and our buyer work together to ensure the timelines and conditions are met. The buyer needs to be fully aware of the tasks needing to be accomplished before closing.

• In most cases the property has been purchased As IS and the buyer has a time frame in order to have all of the inspections they deem necessary.
• The buyer will need to deliver the agreed upon escrow amount to the lender’s title agency.
• Surveys, property insurance, appraisals and financing are the responsibility of the buyer and may be needed before closing.

Foreclosure sales will remain a stong part of our market

There have been over 8,000 foreclosure-REO sales this year in the Mid-Florida market area. It is reasonable to expect that as long as the foreclosure listing inventory remains strong, buyers will continue to be interested in buying foreclosure property.

I strongly suggest that when buying property in our area those buyers should speak with one of our distressed property experts. Having a knowledgeable and experienced agent assisting with the purchase provides real value. Contact me to speak with an agent today.

Search for a foreclosure property

Bank of America Mortgage Assistance Phone Numbers

Bank of America has information available online for homeowners who are facing problems paying their mortgage. The Home Loan Assistance page will take you step by step through programs or solutions available depending on your situation.

I found navigating the Home Loan Assistance site to be fairly easy. The message was clear that Bank of America would like to help their customers stay in their home and if that is not possible, the homeowner has options other than foreclosure. Those options include short sale, refinance, forbearance and deed in lieu. According to the site you can call the following numbers to speak about a specific solution.

• Short sale 1.866.880.1232
• Refinance 1.800.720.3758
• Forbearance 1.800.669.0102
• Deed in Lieu 1.800.846.2222

When it comes to short selling your home, Bank of America admits that the process can be time consuming and according to their information a short sale could typically taking as long as 120 days to complete.

Qualified real estate agents can assist you with the short sale process. In order to reduce the time and frustration it is important to hire an agent who understands the short sale process completely. I have the training and the experience to assist with short selling your home. Call me for a free consultation with a member of my Watson Realty Corp. team.  407-304-0255


Related Florida real estate blog posts on Bank of America

Florida is expected to continue as one of the best states to retire in the US.

Florida is expected to continue as one of the best states to retire in the US. The year-round moderate weather is inviting to those who are reaching or will reach retirement age within the next several years. The United States Census projects over the next 20 years, those persons living in Florida 65 years of age or older will account for over 27% of the population. The Census also reports that the 65 and over population for 2010 is over 17%.

Just a few short years ago if you were thinking of purchasing a home, townhouse, mobile home or condo in Florida you no doubt found yourself faced with paying premium prices or in some cases were unable to buy a home because of the rising prices exceeded your budget.

Times have changed. During 2010, home and condo home prices continue to adjust. Affordable home prices are drawing an increased number of buyers into the market place. This should be good news to anyone considering moving to Florida.

Call me to find receive information on available homes that match your budget.


Florida real estate blog posts about Solivita

Florida crime rate lowest in 39 years

The crime rate in Florida during 2009 was the lowest reported in 39 years according to a report released by Governor Charlie Crist and Florida Department of Law Enforcement.

Violent crimes decreased by 10% and non-violent crimes decreased by 6.2%.

It is not unusual for persons interested in moving to Florida to ask about the crime rate. The announcement is encouraging and a good indication that efforts by law enforcement to make Florida a safer place are succeeding.

You can check crime statistics and read the full announcement by visiting the FDLE website.


Related Florida real estate blog information on Florida crime

Would you drive a little to save a lot on the next home you buy?

If you are willing to commute, there are hundreds of homes available being sold at a price that matches most budgets. Orlando offers the largest supply of 3 bedrooms, 2 bath homes that are listed or have sold this year priced at $100,000 or lower.

If you are not interested in living in or near a city the size of Orlando and are not afraid of a little drive time, you might want to consider Poinciana in Polk County or Deltona in West Volusia.

168 homes in Poinciana
135 sold this year

 

470 homes in Orlando
449 sold this year

 

305 homes in Kissimmee
298 sold this year

 

283 in Deltona
188 sold this year

The low prices are driven by short sale and REO opportunities throughout the Central Florida market area.  If you are not afraid of a little drive and would like to receive information on homes currently available, give me a call or contact me today.


Related Florida real estate blog posts about cheap homes

 

If you are facing foreclosure be aware of those who are looking to take advantage of you.

The last thing you need when facing a hard personal situation like foreclosure is to meet up with those who would try and take advantage of you during your distressed situation for their own gain. Unfortunately this is happening across the State and the State of Florida’s Attorney General is fighting back to protect you from these unscrupulous individuals and companies.

In 2007 Attorney General Bill McCollum began the Mortgage Fraud Task Force to address the issues of mortgage and foreclosure rescue fraud. The Task Force is looking to take legal action against those companies who would mislead the consumer facing foreclosure. These companies will take upfront or advanced fees from the distressed homeowner promising to help them avoid foreclosure but the help never come.

The mortgage fraud website keeps a list of companies with questionable business practices that include:

• Not providing consumers with a copy of written agreements
• Falsifying loan applications and documents
• Misrepresent the company as being a government entity
• Misrepresenting the services that they had been paid to provide
• Refused to refund fees despite a money-back guarantee
• Charging fees up front before completing foreclosure rescue services, a violation of Florida’s Foreclosure Rescue Fraud Prevention Act

Do not fall victim to these practices. If you are facing foreclosure speak with your lender. Lenders have solutions in place to assist borrowers with catching up on payments, loan modifications or short sales that can ease the burden the homeowner is facing.

If you feel you have a complaint against a company that offered to help you avoid foreclosure you can call the Task Force hotline at 1-866-9-NO-SCAM.


Related Florida real estate blog posts about the Attorney General

Thousands of homes are being offered for sale at prices less than owed on the home throughout Central Florida

One reason home sales are on the rise throughout Central Florida is because of the number of homes being sold subject to a short sale. A short sale transaction is one in which the home is being offered for sale at a price less than what the owner owes on the home.

In Orange County alone there are over 3,000 homes listed for sale as a short sale. In Orlando, the largest city in Orange County, there are over 2500. Short sale listings are not just on the low end, with the highest priced short sale listed for sale in Orlando priced at over 2 million dollars.

In addition to the homes actively listed for sale in Orange County there are also 4,000 homes under contract or pended as a short sale. The short sale process from offer to lender approval can be quite lengthy which would explain the large number of short sales showing as pending.

Short sales that have closed this year according to MLS stats in Orange County are reported as just under 1,000. As of today, April 3, 980 properties subject to a short sale have closed.

For buyers who have time to wait, making an offer on a short sale may mean they will purchase house they desire at an affordable price. Of course if a buyer is in a hurry then a home subject to a short sale may not be for them. Give me a call to discuss your personal situation and to receive information about short sale homes in your area.


Related Florida real estate blog posts dealing with short sales

Are buyers buying houses now or are they still waiting?

The decision to buy a home is one that each individual must make based on their personal situation. The right time to buy a home will depend on more that what the real estate market is doing or what other buyers in the market place have done. A buyer’s need and desire to own a home are the driving force for many and when you take those two factors into consideration along with low mortgage rates, special incentives being offered such as builder incentives and the home buyer tax credit plus affordable home prices, many buyers have determined that now is a good time to buy.

How many buyers? Well let’s take a look at how single family home sales compare through the first three months of this year compared to 2008 in three of our Central Florida counties.

In Orange County the MLS reports for the time period of January 1, 2010 through March 31, 2010 that 2,511 homes were sold. This is an increase of over 30% compared to 1,930 homes that are reported as selling during the same time period for 2009.

In Osceola County the MLS reports for the time period of January 1, 2010 through March 31, 2010 that 873 homes were sold. This is an increase of nearly 11% compared to 787 homes that are reported as selling during the same time period for 2009.

In Seminole County the MLS reports for the time period of January 1, 2010 through March 31, 2010 that 691 homes were sold. This is an increase of over 30% compared to 528 homes that are reported as selling during the same time period for 2009.

The numbers above do not include townhome or condo sales.

The continued increase in home sales throughout Central Florida shows that there are excellent opportunities available for both buyers and sellers. The time may not be right for everyone and waiting seems to be the safest course. However the numbers indicate that many in 2010 have decided that they have waited long enough and are now taking advantage of the improving Central Florida real estate market in order to purchase a home or investment.