I wrote most of this blog post before I realized that Marcus just wrote a post about making sure that the price is right. I apologize for bringing the topic back up so soon, but proper pricing is crucial right now. The real estate market is pretty sick at the moment: Buyers are scared and apprehensive to jump into the pool. They don't want to buy something today and have it be worth less 12 months from now. Who can blame them? Most of them are waiting for bottom. Many sellers [...]
Nothing to do with Condos. Nothing to do with Orlando. Nothing to do with real estate. But it might make Monday less painful!
Amidst a week of meager economic data, mortgage bonds prices (the driving force behind mortgage interest rates) will be dictated mostly be performance of the stock market. When stocks rally, investors pull money out of bonds, worsening mortgage rates. When stocks fall, bonds are bought and mortgage rates benefit (which means lower rates for consumers). For example, today's poor earnings reports for many majorly traded companies are benefitting mortgage rates. Murmurs of another rate cut are [...]
Most days, we get frantic calls from investors asking "Please sell my condo!?" I usually have to tell them "No" without even asking what or where it is. Because unless they're willing to price it according to what they can actually get, as opposed to what they think they deserve to get, then we're all wasting our time. Sound harsh? According to the Orlando Sentinel's figures, from July 27th to August 27th, 538 condos were listed in the MetroWest and Dr. Philips / Windemere areas [...]
1.) Â Selection, selection, selection. Regardless of the price range a buyer desires, there are plenty of homes from which to choose. Just a few years ago the resale inventory dropped so low that a buyer was forced to make compromises if they were going to locate to the home of their dreams. There is a great selection of attached homes, condos, and townhouses. You can find large lots, small lots, and a lot that will accommodate your boat or RV. There are lots of options in this market. 2.) No[...]
Most Expensive Condo: Listed for: $235,000 Sold for: $205,000 (days on market: 306) Least Expensive Condo: Listed for: $80,000 Sold for: $64,000 (days on market: 25) Median sales price: $122,000 Average days market =Â 89 Source: Orlando Sentinel
One of the advantages to using a specialist Realtor is that they will help you to make the right decisions and help keep you out of trouble. Like making sure you order a home inspection. For reasons I don't understand, buyers often forget to, or don't want to, order one. Sometimes, the $200-500 that it costs seems like just one more unnecessary expense. But is it really when you're about to invest $200k in a home? Here's the thing. Home inspectors are paid to find problems.[...]
According to the National Association of Realtors, as many as 40 percent of current home sales are second homes. That includes houses and condominiums purchased as investment rentals, for short-term getaways and for future retirement use. Buying a Second Home begins by asking the reader: "What is your main reason for buying a second home?" It then explains the seven steps for a successful second-home purchase. The author explains the details of finding and financing second homes, usually in [...]
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