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How To Take Advantage Of A Seller’s Market In Orlando For Home Selling

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The success of selling your house depends on the market you’re selling into. In this article, you’ll read about how to take advantage of a seller’s market in Orlando for home selling…

In a buyer’s market, there are many sellers and not many buyers. In a seller’s market, it’s the opposite – many buyers and not as many sellers. If you’re a seller in a seller’s market, you have the advantage already of having a scarce commodity that buyers want.

But just because you’re a seller in a seller’s market doesn’t mean you should just let the buyers dictate the terms. You have the advantage and you can still come out ahead.

Here’s how to take advantage of a seller’s market in Orlando for home selling…

How To Take Advantage Of A Seller’s Market In Orlando For Home Selling

Advantage #1 You Can Ask A Higher Price

Following the simple rule of supply and demand, you can ask a higher price (and often get it) because buyers don’t have as many choices available to them. So the first way to take advantage of the seller’s market is to simply ask for more money.

Advantage #2 Ask For Or Remove Conditions

Price is just one component of selling a house. Another component is the conditions that are also placed on the sale – including an inspection, a site survey, repairs, or appliances that will remain in place. But these are what the buyer might ask for. As a seller, you can ask for certain conditions, too. For example, why not ask to just leave the house in as-is condition for the buyer to clean up?

Advantage #3 Generate Multiple Offers

When you only have one offer, you sometimes feel forced to take it. But when you’re presented with multiple offers from multiple buyers,you can get picky, and you can also negotiate from a position of strength. Generate multiple offers by getting a lot of interest and only accepting offers at a certain time. Then go through each offer at your leisure to determine which one is right for you.

Summary

And that’s how to take advantage of a seller’s market in Orlando for home selling! If you’re selling your house in Orlando during a seller’s market, use these tips to take advantage of the situation and enjoy a return, the addition or removal of conditions, and multiple offers to choose from.

How To Avoid Running Into Mortgage Paying Trouble for Orlando Homeowners - Written by Eugene Hoffman

How To Avoid Running Into Mortgage Paying Trouble for Orlando Homeowners

How To Avoid Running Into Mortgage Paying Trouble for Orlando Homeowners

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You may think it’s only the tenant who has a hard time paying the mortgage, but as a real estate investor or landlord, there may be times when it’s hard to pay the mortgage on your end as well. Here are some things you can do to avoid facing difficulty in paying your mortgage each month.

Keep your properties full. While it may sound overly simplified, this is the most obvious method for ensuring you’ve got rent money coming in each month to cover your property mortgage payments. Don’t allow yourself to get slack on advertising for new tenants. And don’t put off screening applicants or filling your properties because you get busy or overworked. Recognize filling your vacancies as a major aspect of your REI business success and deal with it quickly and efficiently every time.

Do your best to find quality tenants. While you want to keep your properties full, finding good quality tenants is key. By “good” it means they pay their rent on time, keep the property maintained and don’t abuse the lease. By using background and credit checks, you can find the best tenants available and thereby do what’s possible to keep your rental fees coming in regularly, which will help you pay the mortgage when it comes due.

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Foreclosure Scams in Orlando- Beware Of Scams Like These - Written by Eugene Hoffman

Foreclosure Scams in Orlando- Beware Of Scams Like These

As you know, foreclosures over the past 5 years have been at record levels.  Just like with anything, when there’s an opportunity or when there’re people in pain… the dishonest and unscrupulous people in the world tend to come out of the dark shadows to prey on homeowners who don’t know any better.

Foreclosure scams in Orlando have even picked up in recent years.

We’ve been working with homeowners for some time now, in fact, we talk with homeowners in foreclosure every single week.  You should hear some of the stories we’ve heard of people in foreclosure being taken advantage of by scam artists proclaiming to be reputable “real estate investors”.

Not All “We Buy Houses” Companies Are Created Equal

You’ve seen those signs that say “We Buy Houses Orlando”… or websites like ours that mention the phrase.  Yes, we buy houses in Orlando and I’ll walk you through how to spot potential scams vs. reputable house buyers in our area.

As a quick summary… there are companies out there that buy houses from people who need to sell.  But, in some cases… that’s where the similarities from the scam investors and legitimate companies with great reputations like us stop.

In this article, I’m going to walk you through some of the ways a small percentage of people try to take advantage of home owners like you.

This is meant to be a “consumer awareness” guide to help you spot the companies to avoid and pinpoint the “we buy houses” companies that you can trust (because the majority of home buyers are great people with great integrity… it’s those few bad apples that ruin it for everyone else.)

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The probate process for a house in Orlando – don’t get shortchanged - Written by Eugene Hoffman

The probate process for a house in Orlando – don’t get shortchanged

Buying and selling of real estate are big business in any economy in the world. As population increases, more houses are needed for people to live in and offices for people to work in. Despite this fact of life, real estate transactions can still be very risky propositions! Especially when it comes to probate property if the prospective buyer doesn’t understand the probate process for a house in Orlando.

So what is a probate anyway?

A probate is a legal way of administering the property of a deceased person (decedent) if the person never left a will or if the will had specific instructions on how his or her property was to be administered after they are dead. These proceedings take place in probate courts. Sometimes they can end up being the best real estate deals that any buyer or seller might get in Orlando…

How to begin the probate process for a house in Orlando

The legate begins after a person dies. Soon after this, the seller is expected to inform the court, which appoints an attorney to take care of the sale. Once this is done, the attorney advertises the property just like other real estate properties. The price is based on the agent’s suggestion and also from an independent appraisal ordered by the probate court. Note: It is important for the seller to familiarize himself or herself with the property to avoid being short-changed. This can be avoided by choosing the right partner in Orlando and that would be Eugene Hoffman.Click the link here, fill out the form and we’ll help you get started now.

Okay, my property is on the market, now what?

Now, after the property is advertised on the market then it is up to the seller to wait for the buyers to make offers on the property. Once this process is completed, the final decision is made by the probate court on who should buy the property based on an auction if there was more than one interested buyer…. In this case, we would suggest you choose Eugene Hoffman to purchase your property because as you can see from our website we have not only given the best deals on probate property in Florida but also on short sales!

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Foreclosure notice of default in Florida- what is it? - Written by Eugene Hoffman

Foreclosure notice of default in Florida- what is it?

What is it?

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If you’ve gotten a foreclosure notice of default and want to know what the heck is going on, keep reading.

Basically, a foreclosure notice of default is a document that has to be filed by a lender to start the process of foreclosure. The Dodd- Frank bill restricts “dual tracking,” the practice of a mortgage lender beginning a foreclosure action at the same time it offers a borrower a loan modification.

During the financial crisis, the Obama administration created a bill, called HAMP to help the ten million people at risk of foreclosure. In the end, HAMP helped only about one million homeowners in five years.

The foreclosure notice of default must be sent to anyone who has an interest in the property (any other loans, lenders, or even contractors who are owed money for work done to a property will get a copy). The foreclosure notice of default must also be published in a newspaper and physically posted in a prominent place on the property itself. Although this can be really embarrassing to someone going through foreclosure, it’s actually a very important protection for consumers.

Back before US law required a notice of default, people were sometimes foreclosed on without any warning.

In fact, it’s happened even in the past few years – at least one bank has accidentally foreclosed on the wrong property and kicked people out of their house without due process or warning. It’s even happened around Orlando.

The notice of default is a very important step in the foreclosure process that gives people with an interest in the property to step forward and claim their rights – before it’s too late.

If you’ve received a notice of default, don’t wait. Time is definitely of the essence, and you should take action.

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The State of the Market for Buyers in Orlando FL - May 2016 - by Eugene Hoffman

The State of the Market for Buyers in Orlando FL

Is it still a buyer’s market today in Orlando?

As experts in the Orlando real estate market, we get asked this question a lot.

The answer isn’t as simple as yes or no.

Median price up 12% year-over-year

First off, it really depends on the property type and location.

Single-family homes in great locations that are priced well have been flying off the shelves. There’s a lot of demand in the market for certain areas, while others can seem like ghost towns.

Buyers are often looking for the same thing – good neighborhoods, access to transportation, shopping, good schools, close to work, etc. Properties that deliver all these are definitely a hot commodity. Sellers with a highly desirable property are in control of the market.

But for condos and townhouses – especially those a little off the beaten path, or with some funky features – it can be quite a different story. Prices were down in certain areas of Orlando but seem to be rebounding as the rental market increases.

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What is a Pre-Foreclosure in Orlando? - Written by Eugene Hoffman

What is a Pre-Foreclosure in Orlando?

What is a Pre-Foreclosure in Orlando?

With millions of homes across the country going into foreclosure, it’s important for both buyers and mortgage holders to understand the process.

So what is a pre-foreclosure in Orlando anyway?

Many homeowners across America and Orlando are facing difficulties making their monthly mortgage payments.

When a homeowner misses 3-6 months of mortgage payments, the lending institution will issue a warning, notifying the homeowner to pay or lose their home. This period is known as “pre-foreclosure.”

Banks and mortgage lenders typically provide three months for the homeowner to become current.  Of course, this number can vary by bank and situation sometimes.

If a homeowner fails to make the necessary payments, the bank will foreclose on the home, assuming ownership, and evict the homeowner. Thankfully, during this stage of the foreclosure process, a mortgage holder has the opportunity to take advantage of several options to prevent losing their home.

What is a Pre-Foreclosure in Orlando?

by Bearlakegroup on May 22, 2016 in avoiding-foreclosure, Company News, Real Estate Articles, Real Estate News, real-estate-market, rent-to-own, sellers, Wholesale PropertiesEdit

With millions of homes across the country going into foreclosure, it’s important for both buyers and mortgage holders to understand the process.

So what is a pre-foreclosure in Orlando anyway?

Many homeowners across America and Orlando are facing difficulties making their monthly mortgage payments.

When a homeowner misses 3-6 months of mortgage payments, the lending institution will issue a warning, notifying the homeowner to pay or lose their home. This period is known as “pre-foreclosure.”

Banks and mortgage lenders typically provide three months for the homeowner to become current.  Of course this number can vary by bank and situation sometimes.

If a homeowner fails to make the necessary payments, the bank will foreclose on the home, assuming ownership, and evict the homeowner. Thankfully, during this stage of the foreclosure process, a mortgage holder has the opportunity to take advantage of several options to prevent losing their home.

Pre-foreclosure Options for Borrowers

If you’re behind on mortgage payments, you’re likely to receive a “notice of default” from your mortgage lender.

This document will state that you have not made mortgage payments for the last 90-180 days.It’s important not to panic.

You have options that can delay or even prevent losing your home:

• If your mortgage is “above water,” (meaning you have equity in your house) you may be able to refinance your mortgage, receiving lower monthly payments.  Check with your local Orlando mortgage broker… or contact us and we can connect you with a reputable one.
• You may be able to quickly sell your home to a real estate investor that’s reputable in Orlando like us at Eugene Hoffman, using the cash acquired to pay the months of back-payments owed (or we *may* be able to work out something with the lender that relieves all or part of your back payments.We can buy your Orlando FL area home quickly, often in just a week or two, will pay in cash, and takes the stress out of trying to find a buyer.
• You can contact the bank and ask them to permit a short sale. In a short sale, you’ll sell your home for less than it’s worth, and the bank will take the loss as a tax write-off.  In some short sales you may still be required to pay the difference to the bank if the house doesn’t sell for what is owed on the loan.
• You may be able to declare bankruptcy, which can buy you time to pay your debt. Bankruptcy will remain on your credit report for years, and can cause significant damage.

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Orlando underwater-mortgage rate among highest By Mary Shanklin Orlando Sentinel

More than a quarter of the owners of mortgaged homes in Metro Orlando were stuck in underwater houses last quarter — one of the highest rates nationally, a new report shows.

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Brooklyn Is Now the Least Affordable written by Jacob Davidson

 The study gauges affordability by measuring the percentage of the locality’s median monthly household income that is required to make monthly payments on a median-priced home in the area.

This study was based on a study of 475 counties in the United States. The statistics I have read about other parts of the world is most of the US single family homes are currently still affordable as compared to the worst three markets I have read about. Hong Kong, Canada (Vancouver, Toronto and Calgary) and London are much less affordable than most of the United States. It appears I need to study more about New York because prices have risen so much in the last eight-teen months.
Gene Hoffman

Read More by Mr. Davidson.

 When RealtyTrac ran the nation-wide numbers in October, payments on a median-priced home required 26% of the average household income. In Brooklyn, by contrast, where the median home costs $615,000 and the median household brings in only $46,960, home payments take up about 98% of a regular family’s wages. That’s less affordable than Manhattan — and even than San Francisco, where half of all homes sell for $1 million or more.

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Sell butter and make $$Millions$$ greasing the political wheel BY FRANCISCO TORO

Venezula has more oil offshore than any county in the World an yet people are lined up arounf the block to buy one stick of butter and a roll of toilet paper. Gene Hoffman

A recent New York Times article about the protests in Venezuela reported that "demonstrators condemn a wide range of perennial problems, including… shortages of basic goods like sugar and toilet paper." This has become a meme in coverage of the unrest, as just about every story mentions these "shortages" as a reason for the student demonstrations. The word has become a kind of shorthand for the chaos and decay of the Venezuelan economy, driven by bolivarian socialism's uniquely self-destructive mix of economic policies. But how, you might wonder, does government policy cause a toilet-paper crisis?

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How big is a house? Average house size by country by Lindsay Wilson

I read an article today(02/2014) in Reality Trac that the median income need to purchase a median price house in San Fransico is $228,000. That was a staggering number in my mind, but what is even worse is the median price of a house in England. I say this because the median square foot of a house in England is 884sF and the median cost has gone over $400,000. That equates to $450sf. The reason prices increase so much in 2014 is because of a loosing of loan qualifications at the beginning of 2014.

Hong Kong has the most expensive housing on Earth by income; plus their median size house is 484sf in size. The second most expensive homes by income is in Vancouver Canada. I have an article about that in my blog.

Gene Hoffman

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'Time Is Short' On Debt Ceiling, Treasury Secretary Says By Mark Memmott

Warning that "simply delaying action on the debt limit can cause harm to our economy," Treasury Secretary Jacob Lew repeated Monday that he believes Congress should act soon to raise that limit so the federal government avoids even looking like it might default on its debts.
"Time is short," Lew also told an audience at the Bipartisan Policy Center, a Washington, D.C.-based nonprofit organization founded by four former Senate majority leaders — Republicans Howard Baker and Bob Dole; and Democrats Tom Daschle and George Mitchell.

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Is the Housing Sector a Drag on the US Economy? by rcwhalen

The S&P/Case-Shiller 20 City Index rose at a 13.8% annual rate in November.  This proves that the US housing market continues to recover, right?  The headlines in most news stories and economic commentaries indicate that the housing market is continuing to improve and with it the US economy.  But if you dig into the numbers a bit, the reality in the housing market is a good bit more subtle than the headlines suggest.
Indeed, it can be argued that the US housing sector has not really recovered significantly and remains a major drag on US economic growth. Back in November 2012, I predicted that housing would be a drag on the US economy and could even drag us back into recession.  The reason?  The failure by Congress and federal regulators to restructure under water borrowers would eventually become a dead weight, limiting growth and job creation, as well as home price appreciation, as it did from the 1920s through until the early 1970s.

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Housing Bubble 2.0: "More Flipping, Bigger Profits, In Less Time" With 156,862 Homes Flipped In 2013 by Tyler Durden

Late 2013 pending home sales may have been horrible, and were blamed on the weather (though as even Goldman notes "The broad-based declines by region suggest that colder-than-average weather was likely not the primary driver, given slightly warmer-than-average temperatures on the Pacific coast in December") , but it appears the weather had zero adverse impact on that other, most pernicious home "selling" activity: flipping.
The topic of home flipping is not new here ("Flip That House" In These Bubbling Cities, Housing Bubble 2.0 Edition: "25 Markets Where Flipping Homes Is Most Profitable", etc) - indeed that best-known flashback of the last housing bubble is easily one of the best indications just how fragile the current housing bubble truly is as investors gobble up real estate not with the intention of keeping it but merely to sell to the next greater fool, in the process setting marginal prices based purely on the availability of cheap money, money which has now been tapered by $20 billion in the past two months. However, to get the full picture on just how pervasive "house flipping" has become, we go to the source, RealtyTrac, which has just released its 2013 summary of this troubling trend.
In summary:

• 156,862 single family home flips — where a home is purchased and subsequently sold again within six months — in 2013, up 16 percent from 2012 and up 114 percent from 2011.
• Homes flipped in 2013 accounted for 4.6 percent of all U.S. single family home sales during the year, up from 4.2 percent in 2012 and up from 2.6 percent in 2011.

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Derivatives: The $600 Trillion Time Bomb That's Set to Explode by Keith Fitz-Gerald

Keith Fitz-Gerald

Do you want to know the real reason banks aren't lending and the PIIGS have control of the barnyard in Europe?

It's because risk in the $600 trillion derivatives market isn't evening out. To the contrary, it's growing increasingly concentrated among a select few banks, especially here in the United States.

In 2009, five banks held 80% of derivatives in America. Now, just four banks hold a staggering 95.9% of U.S. derivatives, according to a recent report from the Office of the Currency Comptroller.

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Built-to-Rent New Homes on the Rise by Daily Real Estate News

Thousands of single-family homes are being built to rent rather than sell, The New York Times reports. More home builders and investors see it as an income-generating investment at a time when the pool of first-time home buyers is shrinking.
The percentage of homes built specifically as rentals was 6.2 percent in 2012 — a record high, according to Census Bureau figures.
For example, in the Atlanta area, a five-bedroom, three-bathroom new home that may have sold for less than $200,000 can fetch $1,300 a month in rent.
“New homes still command a premium with renters,” the Times reports.

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High housing costs are killing the American Dream By Joshua Holland, Moyers & Company

Historically, economic and geographic mobility have been intertwined. Studies have shown that the number one reason that people pick up and move to another community is for work: Americans move out to move up.

But something has happened. In the 1980s, we began to stay put.

Here’s Timothy Noah in December’s Washington Monthly:

In the early 1950s, about 3.5 percent of all American households moved from one state to another in any given year. This proportion held up through the 1970s, and then started to fall around 1980. By 2006 interstate migration had dropped to 2 percent, and by 2010 to just 1.4 percent, or less than half the rate of the early 1950s. The latest available data, for 2011-12, shows interstate migration still stuck at a mere 1.7 percent. Though it may not square with our national self-image, America today is a nation of people who tend to stay put, with a population that is no more mobile than that of Denmark or Finland.

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Foster Introduces Legislation To Reduce Burden For Underwater Homeowners by Congressman Foster

Posted By Rep. Bill Foster, Community Contributor 3:08 p.m. CST, January 14, 2014 Washington, D.C. – Today, Congressman Bill Foster (IL-11) introduced H.R. 3856, the Homeowners Debt Relief Extension Act. The legislation would reduce the tax burden for underwater homeowners by extending the Mortgage Forgiveness Debt Relief Act of 2007. “With millions of struggling homeowners still underwater on their mortgages, now is not the time to cut off this tax credit,” said Foster. “We shouldn’t be offering up millions in tax breaks to oil and gas companies, while leaving working families, still struggling to recover from the recession, with a bigger tax bill.” A recent report showed that a third of Illinois homes are still “deeply underwater,” meaning that more is owned on the mortgage than the home is worth. When homeowners receive loan modifications through their lender, or sell their home for less than they owe, the reduction or cancellation of debt is considered taxable income. Since 2007, Congress has extended this tax relief to homeowners who have received such modifications, so that they are not liable for taxes on the difference between the house’s value and the loan modification or sale amount. Unfortunately, this tax relief expired December 31, 2013, leaving struggling homeowners under more financial stress. The Homeowners Debt Relief Extension Act would extend the tax relief for underwater homeowners until January 1, 2016 for debt forgiven after December 31, 2013. These costs would be offset by repealing a break in taxes for oil and gas companies under the Internal Revenue Code’s Section 199. These deductions are no longer necessary for oil and gas companies, which are making billions in profit each year.

Paperless Accounting: How to Streamline Your Real Estate Bookkeeping by Kenny Estes

Back in August our book keeper moved on to greener pastures and I figured it would be a great opportunity for me to take over his responsibilities: keeping records for 8 LLC’s and ~200 properties.  I wanted to learn the ins and outs of accounting and fix some inefficiencies along the way.  I told myself I’d do it through one tax season.  Turns out…bookkeeping sucks.
Somewhere along the way I decided to overhaul the system and roll out paperless accounting.

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