Orlando, FL Real Estate News

By Edward Torres
(ERA Select International)
Many clients ask, "Is it a good time to "Buy" a home in this current market?"  Well it is an absolutely great time to buy a home in this market. You still have many of the reasons that fueled the growth specifically: interest rates that are still present. The current 30 year fixed rate just dropped last week to approx 6.14% an 11 month low for 2006. Many Buyers are on the sidelines waiting until the "bubble" burst and it hasn't happened. Seller's are re-evaluating their pricing and there are some deals to be taken, but overall prices haven't seen a dramatic change. Yes, we have seen a flattening of the real estate appreciation but this is a correction in the market which is necessary. Property values were growing at an explosive rate which incomes couldn't match that pace. As a Buyer to...
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By Alexander Harb, Dallas, Texas Real Estate Investing
(Knights Investing)
Rod Stewart will be at the newly ordained AMWAY arena (formerly the TD Waterhouse arena) January 16th...... Whoohoo ~~~~ all you Rod Stewart fans out there!!! Call Ticketmaster for your tickets! The Nutcracker (Russian Ballet style) will give it's last performance on Dec. 22nd at the PlazaTheatere --- for tickets call 407-221-8146......  For all of you who remember The Lawrence Welk Show, on Feb. 22nd from 2:00pm to 3:30pm Guy and Ralne will be at the Peabody auditoriumm in Daytona Beach.... a $75 contribution to WMFE gives you the entire show along with a complementary subscription to The Lawrence Welk Newsletter......  The world famous Lipizzaner Stallions will be Orlando Friday Dec. 29th at the AMWAY ARENA....info is at: 407-849-2020 They will be in Kissimmee Wed. and Thursday Dec. 2...
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By Netta Blackwood, REO/BPO Expert
(La Rosa Realty)
Growths in the North Orlando area just tip the scales again. After almost three years of tedious planning, the $350 million Mills Park mixed-use development will begin construction early next year. Previously, the site was home to the former Mills & Nebraska lumber yard.It is expected that over the next two or three years, 564 residential condos will be constructed in groups ranging from three to seven stories high. Eighteen two-story live / work units will also be built.Just less than 80,000 square feet of retail space will be developed for restaurants and service businesses such as a dry cleaner, said James Pelloni, chief executive officer of Pelloni Development Corp. of Lake Mary.Further plans also call for 272,800 square feet of general and medical condo-office space. The developmen...
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By Alexander Harb, Dallas, Texas Real Estate Investing
(Knights Investing)
  Even though the housing market is cooling, Orlando will finish 2006 as its second-best year in single-family existing home sales, according to the Orlando Regional Realtor Association.  Through the end of November, Realtors were involved in 25,371 transactions. That's 717 fewer sales than in 2004 and below 2005's record 31,230 transactions, but ORRA says it expects the sales totals from December to propel this year's sales past 2004's.   This past November, 1,597 homes changed hands, compared with 2,423 in November 2005 and 1,897 in November 2004. The median price for existing homes sold in November reached $250,000, up from $249,900 in November 2005 and $182,300 in November 2004. In November the avg, sle price was $300,210, up from $300,078 in 2005 and $231,339 in 2004.    During the...
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By Netta Blackwood, REO/BPO Expert
(La Rosa Realty)
For the first time in 24 years, the demonstration home for the upcoming International Builders' Show in Orlando was built in a historic downtown area of Orlando. This remodeled home offers a glimpse into the past.A remodeled home has never been featured as a showcase for the International Builders' Show. But this year, emerged The Renewed American Home, a renovated 1909 Florida vernacular house to complement the ultramodern concrete New American Home in the Lake Eola Heights Historic District downtown.The end result will feature two homes that span a century of architecture in half a city block.They cover a wide area of design and construction methods. The transition from the historical neighborhood to the condominiums and the offices on the corner works well.The graceful, light yellow ...
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By Alexander Harb, Dallas, Texas Real Estate Investing
(Knights Investing)
  When you are traveling down the highway of life at work, rest or play, there are some things to remember: Click on the picture to get a little reminder of what is most important in life. This is NOT preaching...it is just a really nice message to get you thinking and maybe....just maybe it will either get you back to where you need to be, OR it might just get you going in the right direction. It might even make you smile because you are already traveling the road of life with these attitudes.                                                                                                                               For my part it made me think AND smile.                                                                    Central Florida real estate --- it's part of my life!
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By Slava Makler
(Kelley Real Estate Group)
Was out last night w bunch of my friends in downtown Orlando again.  lol  as I was walking on central I couldn't help but notice a new sales center for what soon is to be a luxury condo complex.  Prices are kind of on the high side but the amenities and layouts are great.  Plus the location if perfect. It's right in the middle of downtown on central and rosland. 
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By Slava Makler
(Kelley Real Estate Group)
Well today is Saturday morning.  Last night I was hanging out with few of my friends in Downtown Orlando.  WOW...  The place is changing by the minute.  I remember first moving here almost two years ago and walking through Downtown thinking this is a far cry from New York City.  Fortunately, today Downtown is getting a nice face lift.  High rise condominiums are being built almost on every corner.  Most have already broke ground and are well on their way to becoming a reality.  I hope that in the next few years Downtown will be a city of its own with shops, restaurants, theaters, boutiques, and pubs within walking distance from your top floor penthouse condo.  If you a single and young in heart, Downtown is the place to live! 
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By Eli Magen
(New World Mortgages,(Mortgage Company))
Commercial goes its own way,Commercial Brokers in Central Florida are planning to establish a new organization separae from the Orlando Regional Realtor association (ORRA), in order to offer more specialized programs and services to commercial practitioners.  If all goes as planned, the new group, called (CFCAR) Central Florida Commercial Association of Realtors,would be up and running soon.About 450 commercial brokers belongs to ORRA, which has 13,000 total memberships.The new commercial association would include members from nine central florida counties: Brevard, Flagler, Lake, Marion, Orange, Osceola, Seminole, Sumter and Volusia. It will be only second stand-alone commercial.The Florida Gulf Coast Commercial Association of Realtors, was formed in Tampa Bay area, about 10 years ago....
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By Taiane de Gregorio
(Sunvest Communities USA)
Many people belive they can save considerable amount of money by selling on their own. They look at the average commission  on a house and remember stories of friends or relatives who managed to get through the process with seemingly little trouble. "Other people have sold their own homes," they say – "so why can't I?" Approximately 10 percent of American homeowners handle their own sales. But in order to do this, you'll need to realistically assess exactly what's involved. The routine parts of the job involve pricing your house accurately, determining whether or not a buyer is qualified, creating and paying for your own advertising, familiarizing yourself with enough basic real estate regulations to understand (and possibly even prepare) a real estate contract, and coordinatind detaisl...
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By Taiane de Gregorio
(Sunvest Communities USA)
For your own safety, and to make sure you're getting your money's worth in the home you choose, using a professional home inspector is highly recommended. A home inspector will check a variety of things such as your home's plumbing, heating, cooling, and electrical systems, and look for structural problems like a damp or leaky basement, etc. Usually, you call an inspector immediately after you've made an offer on a home. However, before you sign any written offer, make sure (or have your attorney make sure) that it includes an inspection clause, which says that your purchase obligation is contingent on the findings of a professional home inspector. Your inspector will not tell you whether he or she thinks the home is worth the money you are offering. Rather, the inspector's job is to ma...
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By Taiane de Gregorio
(Sunvest Communities USA)
When you sign an offer to purchase, your realtor will ask you for "earnest money." This refers to a monetary commitment that shows you are serious about wanting to buy. Usually, you will be asked to write a check for one to 10 percent of the sales price. This money will be held in a special escrow account. If your offer is accepted, your earnest money will be included as part of your down payment . If your offer is not accepted, you'll get back all your earnest money. But keep in mind that if you back out, you may forfeit the full amount.
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By Sean Kelley
(Broker )
On a day to day basis I am just floored by the influence the media has on all of our lives. How many times have you turned on the news to see a "Special Report" on the "Housing Bubble" and the newscaster (who is sitting at a desk somewhere in the US) is rattling off housing statistics that are compiled from the NAR (National Association Of Realtors) The key word here being National. These reports always concentrate on the negative aspects of todays housing market simply because it creates fear and fear creates ratings. When sellers see these reports they get very nervous and decide the only way to compete in this market is to drop their price. And it gets worse, buyers see this report as an opportunity to offer substantially less for a home. This double whammy to the housing market is c...
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By Taiane de Gregorio
(Sunvest Communities USA)
There is no set number of homes you should look at before you decide to make an offer on one. That's why providing your realtor with as many details as possible up front is so helpful. The perfect home may be waiting for you on your first visit. Even if it isn't, the house-hunting process will help you get a feeling for the homes in the community and narrow your choices to a few homes that are worth a second look. If you're looking in more than one community, try to make the most of each house-hunting trip. Ask your sales professional for welcome kits, maps, and information about schools, houses of worship, and recreational facilities. Also, be sure to take along a camera and snap some pictures of all the homes you're interested in. That will make it easier to remember and reach a decis...
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By Taiane de Gregorio
(Sunvest Communities USA)
Tell the sales professional everything you like and don't like about each home you see. Don't be shy about discussing a home's shortcomings. Is the home too small for your needs? Let the sales professional know. Was the home perfect except for the carpeting? Let the sales professional know. However, remember that there can be two types of sales professionals involved in a real estate transaction; those working for the buyer, and, frequently, those paid by and working for the seller. The seller's agent is obligated to help secure the best price for the seller. In addition, seller's agents may also report any confidences you share with them — including any willingness to pay a higher price should the seller not accept your initial offer. This is why you may want to be represented by a buy...
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By Taiane de Gregorio
(Sunvest Communities USA)
There is really no rule to use in calculating an initial offer. Naturally, the buyer wants the best value and the seller want the best price, but negotiations can be influenced by many factors, such as a seller who may be changing jobs and wants to sell quickly, or a buyer who is set on a specific home. After you've looked at the home's features, asked questions, checked comparables, and talked about it with your sales professional, you should have a good idea of what the home's value is in the current market. Consider what you can afford, and make an offer that you consider to be fair. Most buyers and sellers negotiate on price, with both sides "giving" a little until both agree. At that point, you typically will begin the process of arranging for an inspection and applying for a mortg...
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By Taiane de Gregorio
(Sunvest Communities USA)
When you've found a special house you want to call home, you'll probably feel excited and a bit nervous. Let the agent  know you're ready to write an "offer to purchase" — a written document that declares how much you are willing to pay for the home provided that certain conditions are met. This is the time when it is most important for you to keep in mind that, unless you have specifically retained the services of a buyer's agent, the sales professional is working for the seller. As the legal agent of the seller, he or she is obligated to help the seller get the best price, and will report to the seller any confidence you share. It's best to make your offer without sharing with the agent your willingness to offer any higher price if the seller does not accept your offer. Your offer sho...
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By Taiane de Gregorio
(Sunvest Communities USA)
Renting offers a lifestyle that's nearly maintenance-free. That may appeal to you, but consider that renting offers you no equity , no tax benefit, and most likely no protection against regular rent increases. If your rent has averaged $700 a month for the last 10 years, you've spent $84,000 with nothing to show for it. Isn't it time you invested in yourself instead of your landlord? Several financing options hold special advantages for first-time buyers or families with limited cash reserves.  FHA -insured and VA-guaranteed mortgages can minimize or even eliminate your down payment . You may also consider a lease purchase agreement or borrow cash for a down payment from life insurance, profit-sharing or a retirement account. In addition to tax deductions you'll likely receive that can ...
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By Taiane de Gregorio
(Sunvest Communities USA)
A good real estate professional is perhaps your best source. We know where the local schools are and can provide you with valuable information about school districts, including test scores, extracurricular activities, bus service and more. If you're relocating, a sales professional may even be able to put you in touch with teachers and principals when you visit the area. And if you want to do a little searching on your own, the Internet may also be a good place to start. My web site has a special link to neighborhood information, including information about  Orange and Osceola county public schools.
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By Taiane de Gregorio
(Sunvest Communities USA)
It's a matter of personal preference. Both new and older homes offer distinct advantages, depending upon your unique tastes and lifestyle. New homes generally have more space in the rooms where today's families do their living, like a family room or activity area. They're usually easier to maintain, too. However, many homes built years ago offer more total space for the money, as well as larger yards. Taxes on some older homes may also be lower. Some people are charmed by the elegance of an older home, but shy away because they're concerned about potential maintenance costs. Consider a home warranty to get the peace of mind you deserve.
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