Orlando Real Estate - Blog

Walk Away From your Mortgage Calculator

IS IT IN MY ECONOMIC INTEREST TO WALK AWAY?   
You decide.  This calculator is just a tool to help.  Numerous variables are involved but the biggest is probably your assessment of the future of housing pricing.  No one can predict future prices, but the conventional wisdoms says that it is probably not realistic to believe that housing prices will increase by more than 4%-8% per year on average.

WHAT WILL HAPPEN IF I WALK AWAY?
It depends on the particulars of your situation.  In many states, including California, in many circumstances the “bank” has no legal or practical recourse against homeowners who stop paying their mortgages except to take their homes through foreclosure and put derogatory entries in their credit reports. 

LOAN MODIFICATION? 
The more it is in your economic interest to walk away, the more the bank should be willing to make a deal with you to get you to stay and pay.  The banks will try to base modification negotiations on what you can afford as opposed to what you should afford. 

SHORT SALE?  A short sale in Orlando offers homeowners a way to avoid foreclosure and help save their credit.  We have a team of licensed Orlando Realtors and loss mitigation experts who specialize in pre-foreclosures and the short sale of all types of property.

Walk Away From your Mortgage Calculator

Source: PayOrGO.com

Stop Foreclosure  Save Your Credit Orlando Short Sale

Introducing Massachusetts Real Estate Websites 

• Quincy MA Homes for Sale: Quincy Massachusetts Real Estate, Quincy Massachusetts Homes for Sale. Search for Houses, Condos, Condominiums, Multi Families and Townhouses for sale in Quincy Massachusetts. Search by MBTA and other advanced criteria
• Newton MA Real Estate: Newton Massachusetts Real Estate, Newton Massachusetts Homes for Sale. Search for Houses, Condos, Condominiums, Multi Families and Townhouses for sale in Newton Massachusetts. Search by MBTA and other advanced criteria
• Worcester MA Real Estate: Worcester Massachusetts Real Estate, Worchester Massachusetts Homes for Sale. Search for Houses, Condos, Condominiums, Multi Families and Townhouses for sale in Worchester Massachusetts. Search by MBTA and other advanced criteria
• Lowell MA Homes for Sale: Lowell Massachusetts Real Estate, Lowell Massachusetts Homes for Sale. Search for Houses, Condos, Condominiums, Multi Families and Townhouses for sale in Lowell Massachusetts. Search by MBTA and other advanced criteria
• Quincy MA Real Estate: Quincy Massachusetts Real Estate, Quincy Massachusetts Homes for Sale. Search for Houses, Condos, Condominiums, Multi Families and Townhouses for sale in Quincy Massachusetts. Search by MBTA and other advanced criteria

 Mortgage Financing Returns!

PURCHASE & REMORTGAGES NOW AVAILABLE!

After almost 18 months since a viable product has been made available we finally offer a product for foreigners! Purchase and remortgages up to 70% with minimal documentation required. Rates start at 6.5% and have no redemption penalties at all! Please e-mail us for more details soon as we do not know how long this product will be around.

Orlando Vacation Homes - Disney area Vacation Homes

Study Finds Homeowners Fight Foreclosure Even When It Doesn't Make Sense

Millions of Americans, whose homes are now worth significantly less than their mortgage, could be making an expensive mistake by continuing to try and pay their loan off when they should, instead, be walking away. In fact, owners are willing to keep piling money into a losing investment simply because they're ashamed to foreclose, according to a controversial new study.

"Homeowners should be walking away in droves. But they aren't," writes Brent White, an associate professor of law at the University of Arizona.

He explains that some owners who bought at the peak of the market now owe more on their mortgage than they can ever recoup in their lifetime. Although it would make financial sense to cut losses and abandon their homes, feelings are getting in the way. "A lot of it has to do with shame, guilt and fear," says White.

Source: ABCNews.com - Dalia Fahmy

Stop Foreclosure  Save Your Credit Orlando Short Sale

Consumer Reports surveyed over 17,000 readers on the state of their home improvement projects. The results of the home improvement survey point out that you should definitely do your homework before doing the home improvement on your Orlando real estate.

Over half of those surveyed went at least $2,000 over budget for room additions. On basement finishing, 56% spent $1,350 over budget. Kitchen remodeling also had 56% going over budget, by $1,200. Lastly, 45% went over budget by $700 on deck additions. What was the reason? Surprisingly, they all had similar reasons:

• Plan adjustments
• Underestimated labor
• Increased cost of materials
• Special tools needed
• Unexpected system upgrades 

If you plan to remodel your Orlando real estate in the near future, keep these tips in mind so your home improvement goes as planned:

• Do your research – Factor in delivery and removal fees.  Make sure you know which products the contractor should have and plan ahead.

• Don’t deviate – Once you have a well-developed remodeling plan, don’t deviate from it. Those who did ended up going anywhere from $2,000 to $10,000 over budget.

• Check the contract – Make sure your contractor's contract has a set amount for materials. Some have open-ended amounts, which makes it quite easy to go over budget. Read the contract before you sign it!

• Check up on the remodeling contractor – Get the referrals and then put them to work. In other words, don’t just get a list of numbers and names, and then forget to check up on the contractor. Follow through and make sure the contractor is a good one.

A little remodeling can go a long way in helping you sell your Orlando real estate. Just make sure you know what you’re doing before you hire anyone to do it!

If you’re trying to sell your home, or looking for a great home to buy,we can help. Call us at 407-876-5771 for more information. 

Whether for Orlando condos or single-family homes, For Sale by Owner (FSBO) sales aren’t near as successful as those sold by real estate agents. In fact, by 2006, the average price for a FSBO home was at least $50,000 less than agent-run sales.

Why is that? Are real estate agents just naturally better at it? Although I’d love to say yes, the reality is that there are just some things FSBOs don’t know. Because they don’t know it, they make mistakes. Some of the most common are:

1. Incorrect pricing – The market can only bear so much. By pricing their Orlando condos and homes too high, many FSBOs fail to sell. If your home isn’t selling, this may be the reason.
   
2. Not understanding everything involved – Selling a home, whatever the type, takes a lot of time, energy, ability, effort and know-how. For instance, accessibility is especially important, and a lot of FSBOs can’t be available to show the property when a buyer wants to see it.
   
3. Screening – You can waste a lot of time on unqualified buyers. You can also lose money by taking an offer that’s lower than it should be. Screening buyers can take a lot of time and effort, especially if you don’t have the experience to spot them.
   
4. Financing questions – The prospective buyer wants to know their financing options. As a FSBO, you need to be able to answer financing questions and explain their options. To do this, you’ll need to build a network of financial experts.
   
5. Knowing contracts – You need to be well versed in legal jargon, so you can handle contracts, agreements and disputes. Make sure everything – the negotiations and the agreements – is in writing.

These five points are just a few of the things you need to know to sell Orlando condos and single-family homes on your own. If you’re not prepared to do it all, hire an agent to do it all for you!

If you’re trying to sell your home or condo and need someone who knows the ropes, we can help. Call us today at 407-876-5771 for more information.