Friday, March 19, 2010
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Monday, August 03, 2009
Rents at 2005 Levels
Orlando's multifamily-housing market had a 10 percent vacancy rate in June, up slightly from the end of last year, according to a report by CB Richard Ellis. The average rent for the market through the second quarter was $803, close to 2005 levels, reported M/PF and Torto Wheaton Research. Those rates are expected to remain flat through the end of the year.Most properties are offering a month's free rent to attract tenants, according to the CBRE report.The addition of new apartments is expected to slow further next year, with only 700 units expected to be added in four-county Metro Orlando in 2010. CB Richard Ellis projects an increase of 159,000 jobs in the area during the next five years, which should drive the vacancy rate down to about 3 percent. It also forecasts about a 4 percent annual increase in rents from 2012 until 2014, at which point the average rent would be $933, according to the M/PF and Torto Wheaton summer 2009 report.
Thursday, July 30, 2009
Biggest misconception in Bank Foreclosures…
Most buyers think that bank foreclosures are all priced below market value…think again….and don’t bother to check the records for how much was owed on the mortgage…that does not matter either.
A house with a current market value at $300,000 will be re-possessed by the bank if the owner is not paying…. they could owe $345,000 on it or a mere $5,000 it does not matter. No pay; no stay.
Consumers think that the bank will only want to cover the debt owed so the less that is owed the smaller the new asking price…not so either. The bank with get a couple of appraisals and market the property accordingly; they are in the business to make money so will try to get as much as they can.
“Bank Foreclosed” is a hot button for too many buyers. Evaluate carefully…this bank deal may not be as sweet as you think.
For an expert opinion of value and a straight answer, call me.
Eve
A house with a current market value at $300,000 will be re-possessed by the bank if the owner is not paying…. they could owe $345,000 on it or a mere $5,000 it does not matter. No pay; no stay.
Consumers think that the bank will only want to cover the debt owed so the less that is owed the smaller the new asking price…not so either. The bank with get a couple of appraisals and market the property accordingly; they are in the business to make money so will try to get as much as they can.
“Bank Foreclosed” is a hot button for too many buyers. Evaluate carefully…this bank deal may not be as sweet as you think.
For an expert opinion of value and a straight answer, call me.
Eve
Tuesday, July 14, 2009
Kudos to TOLL BROTHERS…THE BUILDER!
I recently went to contract with my client to purchase a new build with Toll Brothers in East Orlando and was pleasantly surprised.
In today’s world of every builder trying to squeeze the last nickel out of the buyer, Toll Brothers had an approach that I found refreshing. They offered incentives, $30,000 in fact, that was NOT tied to using their affiliate companies; those that the builder owns or has a relationship with or derives additional profit from…like the mortgage or title company.
This is the first time, I have seen a builder contract that does not twist the buyers arm to use certain vendors and as a result, my buyer did not feel pressured.
In this case the $30,000 was a real incentive…to be used for upgrades, options, or closing costs or mix and match…it was not the usual “only if your use our lender” or “only if you use our title company”.
NO STRINGS ATTACHED…I loved it.
Call me for further info…
Eve
407-539-1053
In today’s world of every builder trying to squeeze the last nickel out of the buyer, Toll Brothers had an approach that I found refreshing. They offered incentives, $30,000 in fact, that was NOT tied to using their affiliate companies; those that the builder owns or has a relationship with or derives additional profit from…like the mortgage or title company.
This is the first time, I have seen a builder contract that does not twist the buyers arm to use certain vendors and as a result, my buyer did not feel pressured.
In this case the $30,000 was a real incentive…to be used for upgrades, options, or closing costs or mix and match…it was not the usual “only if your use our lender” or “only if you use our title company”.
NO STRINGS ATTACHED…I loved it.
Call me for further info…
Eve
407-539-1053
Thursday, July 09, 2009
What is an EBA?
An EBA is an Exclusive Buyers Agent: a real estate agent that represents only buyers, never sellers, and works in an office that ONLY represents buyers.
FACTS:
1. An EBA is a buyer representation expert…less than .006% of realtors
Nationwide have this niche specialty.
2. An EBA provides undivided loyalty for the buyer; you will always have a
Real Estate partner on your side.
3. An EBA will tell you everything about the property; positive or negative.
4. An EBA will keep all pertinent information about you confidential; never
giving up your bargaining position.
5. An EBA will show you all properties available without having any
conflict of interest.
6. An EBA has access to all properties plus more…any MLS listed
Property, For-sale-by-owner, New construction and Custom build.
Hiring an EBA to represent you on your next home purchase is a smart decision, recommended and endorsed by:
Consumer Reports
Money Magazine
Orlando Sentinel
US News and World Report
Kiplinger’s
Smart Money
OC Register
Agency Law Quarterly
Mobility Magazine
FACTS:
1. An EBA is a buyer representation expert…less than .006% of realtors
Nationwide have this niche specialty.
2. An EBA provides undivided loyalty for the buyer; you will always have a
Real Estate partner on your side.
3. An EBA will tell you everything about the property; positive or negative.
4. An EBA will keep all pertinent information about you confidential; never
giving up your bargaining position.
5. An EBA will show you all properties available without having any
conflict of interest.
6. An EBA has access to all properties plus more…any MLS listed
Property, For-sale-by-owner, New construction and Custom build.
Hiring an EBA to represent you on your next home purchase is a smart decision, recommended and endorsed by:
Consumer Reports
Money Magazine
Orlando Sentinel
US News and World Report
Kiplinger’s
Smart Money
OC Register
Agency Law Quarterly
Mobility Magazine
Tuesday, July 07, 2009
Rules for BIDDING ON SHORT SALES...
- Put on your gambling hat, because that is what you are doing…rolling the dice. You are throwing out an offer, in the hopes that your number comes up, so that the seller signs the contract and the bank (who needs to approve the price) thinks your price is also acceptable.
- If the property looks great, chances are that there will
be other offers on it within days. There is no time to think
about it or over-analyze…take your best shot, as you
may not have a second chance. - If the property is well priced and in a desirable area, chances are the offers will be above full price…sometimes waaayyy above listed price, higher than you would have thought to bid. If you do not get the winning bid, will you wish you bet higher?
- Stay unemotional and do not get anxious… This is not Wal Mart where you can just walk in, pay for something and use it tomorrow. Waiting for the bank to respond may take months of time and drain every ounce of your patience
Last but not least, buckle up…it may be the ride of your life, with many twists, turns and lots of bumps. If you can hang in there, you just may end up with a bargain of a lifetime.
To receive more info on short sales, e-mail us a request to Info@OrlandoBuyersBroker.com.
Wednesday, July 01, 2009
Top Foreclosure States
Here are the top filing rates for the country.
Top Foreclosures States:
1) Nevada 1 of every 27
2) Arizona 1 of every 54
3) California 1 of every 58
4) Florida 1 of every 73
Bottom Foreclosure States:
47) Montana 1 of every 2,847
48) Nebraska 1 of every 3,517
49) South Dakota 1 of every 3,721
50) Vermont l of every 14,830
Top Foreclosures States:
1) Nevada 1 of every 27
2) Arizona 1 of every 54
3) California 1 of every 58
4) Florida 1 of every 73
Bottom Foreclosure States:
47) Montana 1 of every 2,847
48) Nebraska 1 of every 3,517
49) South Dakota 1 of every 3,721
50) Vermont l of every 14,830
Jack-of-all-trades…..master of …err…ah…
Have you ever met a realtor that claims to do it all? They can be your buyer’s agent while finding your home, then do your financing as your mortgage broker, then be your property manager, your leasing agent and then change hats to become a marketing specialist while they list your home to sell….
That is too many hats for me. Personally, if I needed a heart specialist I would not go to a general surgeon. Likewise, if I need a mortgage, I would not go to a real estate agent that is not knee deep in mortgages on a daily basis.
I like to do business with those who are focused on a specialty, as that assures me that they are the experts and will know more than someone will that dabbles in a little bit if everything. I deserve to work with the best.
If I am going to buy a house, I want to use someone that knows the areas, can talk intelligently about property values, understands all my rights as a homebuyer, views the transaction only from my point of view and is comfortable in advocating for me. I don’t want a middle man that dabbles.
Buyers Broker of Florida specializes only in Buyer Agency and focus ONLY ON REPRESENTING THE BEST INTEREST OF THE HOMEBUYER. They have been in business over 18 years. You deserve the best too…so call us to answer all your questions.
That is too many hats for me. Personally, if I needed a heart specialist I would not go to a general surgeon. Likewise, if I need a mortgage, I would not go to a real estate agent that is not knee deep in mortgages on a daily basis.
I like to do business with those who are focused on a specialty, as that assures me that they are the experts and will know more than someone will that dabbles in a little bit if everything. I deserve to work with the best.
If I am going to buy a house, I want to use someone that knows the areas, can talk intelligently about property values, understands all my rights as a homebuyer, views the transaction only from my point of view and is comfortable in advocating for me. I don’t want a middle man that dabbles.
Buyers Broker of Florida specializes only in Buyer Agency and focus ONLY ON REPRESENTING THE BEST INTEREST OF THE HOMEBUYER. They have been in business over 18 years. You deserve the best too…so call us to answer all your questions.
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