3 Home Upgrades To Invest In and 3 To Forget About

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When buyers begin thinking about selling their home in Orlando, upgrades can be a first step many people take. However doing too much, or upgrading things that don't provide much return can be a waste of time and money.

We have put together our list: of 3 upgrades to invest in and 3 to forget about.

3 Upgrades To Invest In:

Do: Paint

A fresh coat of paint can easily brighten up and revive a room. Try to stick with neutral colors and add in pops of color elsewhere, such as throw pillows or artwork. Painting is a relatively low-cost upgrade that can have a big impact. May I suggest using knockdown. Spraying on knockdown is messy but it adds appeal.

Plus a fresh coat of paint will cover and dings in the wall, nail holes, etc.

Do: A Kitchen & Bath Facelift

modern and comfortable kitchen

You might have heard that an upgraded kitchen and bathroom are two of the best areas to focus on when upgrading your home. However, you can do some smaller upgrades that will make a big impact without costing a fortune. Often when cabinets are professionally painted and you upgrade your counter-tops that makes a notable effect.

New faucets, drawer pulls and resurfacing your cabinets are affordable ways to revitalize the space. Some appliance manufacturers sell new and alternate colored faceplates.

For example, swapping out the front of your dishwasher to match the other appliances is a great way to save money and tie things together.

You can take the same principles to give your bathroom a quick makeover. Vinyl tiles can go on the floor, right over what you currently have. Do a deep cleaning of the grout, and re-grout if needed.

Fix any cracked tiles or broken hardware. (Wobbly towel racks, etc.) Another option to a complete shower renovation is to install a pre-fab cover. This is much cheaper than doing a whole shower overhaul.

Do: Landscaping

Planting some flowers out front or covering dirt with a pretty, fast spreading ground cover will give your home instant curb appeal. If needed, have trees and bushes trimmed and keep the lawn mowed nicely.

Depending on your climate, you can plant succulents or lay down pretty rocks to keep the space well maintained, but low-maintenance.

Maybe throw a fresh coat of paint on the mailbox or hang up a bird feeder and some hanging plants. Small touches and a well-groomed yard will draw anyone in.

3 To Forget About:

Don't: Finish The Basement

This can turn into a major project that can be both expensive and time-consuming. The numbers show you won't end up getting back anywhere close to what you put into it.

Overall, most homebuyers will want to fix up the space to their taste anyhow. Maybe they want an open game room, or to add a couple of extra bedrooms.

When pricing the home, account for the unfinished space and let buyers know that is reflected in your pricing.

Don't: Add a Patio, Deck or Pool

Again, this can be very pricey, without much return. If you have an open area, use plants or pavers to tidy up and beautify the space. If the new homeowners want to build a deck, they can do so, but with their tastes and specifications in mind.

Adding a pool can cost a fortune, without providing a huge increase in what you will be able to ask for the home. In addition, a pool may actually deter buyers.

Prospective buyers with small children may worry about safety and many people may not want to worry about the hassle and upkeep of maintaining their own pool.

Don't: Do A Major Renovation to The Kitchen or Bathrooms

Don't waste your money with a complete overhaul unless it is absolutely necessary due to water or fire damage. The cost does not make sense, especially when homebuyers will have their own tastes. Many homeowners would prefer a credit to the home price allowing them to upgrade on their terms.

In summary: Don't over-improve... keep it simple!

About Eugene Hoffman

Whether you are looking to buy or sell, Eugene Hoffman can help you with some great tips and strategies! Fill out this form now, and someone from our office will be in touch right away! Or give our office a call anytime! 

407-781-7312

NAR OFFERS RESPONSES TO ZILLOW'S "INSTANT OFFERS" written by Gram Wood

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In select markets today, the competition isn’t just from other neighborhood brokerages. It’s also from companies like OpenDoor.com and OfferPad.com, with attractive online platforms that promise sellers a quick, hassle-free, cash sale.

Now Zillow has joined the fray, introducing its “Instant Offers” platform in two test markets, Las Vegas and Orlando. The platform enables sellers to receive and compare cash offers from selected investors, as well as obtain a CMA from one of Zillow’s paying customers, a Zillow Premier Agent.

For many real estate agents, these online marketplaces feel like a threat to their role in the transaction and their livelihood. Zillow, which makes a significant share of its revenue providing tools and services to real estate agents, has moved to dispel that concern, saying it will encourage, but not require, sellers to connect with an agent to close the transaction.

It remains to be seen whether Zillow will be successful enough to expand Instant Offers to more markets. If it does, the promise of a quick sale may capture some consumers’ attention. But many professionals say they relish the opportunity to compete and communicate their value as a real estate professional.

What would you say to sellers who are considering the option of a direct, cash sale? Here are six talking points.

•I work in this market and know the community better than any website could.

•I will help you get your house ready for sale.

•I will market your home to the widest possible audience, not just investors seeking to make a profit on your home.

•I will aim to get you the best offer possible, and I have the skills to help you negotiate the terms of the sale.

•One of the best parts of my job is helping you find a buyer who will love your home the way you do.

•As a REALTOR®, I follow a Code of Ethics that includes a pledge to “protect and promote the interests of my client” (Article 1). These online companies may facilitate your transaction, but not necessarily with your interests in mind. With “Instant Offers,” unless you choose to work with an agent, you’ll be on your own handling the details of the transaction.

If past performance is any indicator of the future, sellers will continue to gravitate your way. The National Association of REALTORS®’ 2016 Profile of Home Buyers and Sellers showed that 89 percent of sellers worked with a real estate professional to sell their homes. Only 8 percent of home sales in 2016 were FSBOs, a form of which is direct sales.

Still, direct sales may pose other challenges to the industry.

In addition to competing for sellers’ attention, these online investor sales may exacerbate the already tight inventory situation many of your buyer clients are facing. Instant Offers, for example, connects sellers with a small group of investors who are partnering with Zillow. Sellers who go that route are taking their home out of the inventory for the average buyer.

Also, sellers who choose direct sales aren’t listing their property on the MLS. How will that affect the reliability of MLS data? Not just real estate professionals but also economists and governments use that data to spot market trends, determine fair market values, and make plans.

John Mosey, president of NorthstarMLS, which serves more than 16,000 real estate professionals in Minnesota and western Wisconsin, sees no cause for concern on that front. “We’ve dealt with things like the ‘coming soon’ phenomenon and off-MLS activity, and we’re seeing that these trends aren’t shifting FSBO numbers,” he says. “Our transaction volume in 2016 was $19 billion, and we’re in the Midwest, where market values don’t come close to the coasts. So you don’t need the off-market activity to get a true picture of what’s going on. I think the potential harm with these off-market listings is that a lot of them have never been market-tested, so it’s hard to get an accurate appraisal.”

If nothing else, Mosey adds, direct-sale platforms are yet another innovation that should make both MLSs and practitioners think more deeply about how to communicate their value.

Denee Evans, CEO of the Council of Multiple Listing Services, lives in Las Vegas where Instant Offers is being tested. She draws a correlation between real estate and her previous work in the financial industry. “Even when people began doing their own online trading, there was a healthy industry for financial planners. You need a professional to help you with that. There are too many little things to keep track of,” she says.

 “Even with my real estate knowledge, I don’t buy and sell houses myself,” Evans says. “There’s no replacement for a professional who does this every day and knows the ins and outs of the market.”

By Graham Wood, senior editor of REALTOR® Magazine

What to Expect When Buying Foreclosures in Orlando

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While the foreclosure process is not an ideal situation for the home’s previous owners, it can be a way to find a home at a much lower price than you would find in a traditional sale. Investors love to buy foreclosures. 

However, with the opportunity for reward, there is also a risk. In this blog post, we’ll let you know what to expect when buying foreclosures in Orlando! 

While the number of foreclosures has leveled off a bit, there are still many to be found all across the country. More and more people have caught the investing bug thanks to increased media coverage on channels like HGTV. But before you go diving into foreclosure investing, there are a few things you should know. Our economy has business cycles and when the cycle slows down people will be downsized. Home prices cannot rise forever.

You Are Buying As-Is

When a homeowner falls into foreclosure, they often fall behind on performing routine maintenance and repairs. A home that is not properly maintained can quickly start to show signs of wear and tear. And sadly, sometimes foreclosed homes can be vandalized by either the previous homeowner or by people who know the house is vacant.

It is very rare that you will be able to negotiate repairs into your purchase price. There are 203K loans that have funding for the repairs needed on foreclosed homes. Banks know that there is a high demand for foreclosed properties, so they aren’t always priced at the “rock bottom” prices some people expect. Just because it is a foreclosure, does not mean you are getting a good deal. Have an inspection done, and don’t let repair costs negate your “savings.”

Financing Can Be A Challenge

A bank isn’t likely to see a home with broken windows, ripped out appliances, damaged flooring and a leaky roof as a sound investment, no matter how low the owning bank has priced the home.

Most lenders have conditions the property must meet before they will give you a dime. Before making an offer on a home, you will want to get pre-approved or be paying in cash.

Sometimes banks will favor cash buyers as a cash buyer provides certainty, whereas accepting an offer that is being financed is more of a risk for them.

There Is Competition Everywhere

In every market, you will find seasoned investors that have been purchasing foreclosed homes. They will have the process down pat and be ready to make an offer the minute a good deal becomes available.

You have to know when to walk away from a property and also when to put in an offer immediately, as hesitation could cost you big time.

Working with a professional who understands the foreclosure process can help you put together an offer that will be well received by the bank. Eugene Hoffman is always here to answer any questions you may have about the foreclosure process.

Costs Upfront

You might think that buying a foreclosure will save you a ton of money. And while this could be correct, you also have to prepare yourself for out of pocket costs you will need to pay up front.

A home that has been foreclosed on is likely to be ill maintained, meaning it could have fallen victim to vandalism, theft and be in need of some major repairs.

You will want to have a professional inspection done, which you will need to pay for yourself. You can consider adding in a contingency to your offer, which will allow you to revoke it should the home not pass inspections.

However many banks won’t agree to this and will move on to the next offer.

In addition, if the utilities are off, you will be asked to pay the cost of turning them on for inspection. It’s hard to check for leaky pipes if the water has been shut off for months.

You will also want to make sure the home is free and clear of any liens. Hiring a professional to run a title search can save you a lot of money down the line.

Moving? Learn When to Call a Mover in FL

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Ah moving! Should you do it yourself? Or should you hire some help? In this article, we will help you determine if you should go at it solo, and when to call a mover in FL. 

Ask Yourself These Questions When Considering Using a Mover

How Much Are You Moving?

If you are moving a lot of cumbersome items, working with a mover will be your best bet. Movers are experts in packing, lifting and getting all of your stuff transported as efficiently as possible. They might only need to make one trip in what could take you six. People often rent a truck from Uhaul.

An alternative to doing the move is to hire a company that can help with the entire process. Checkout Caring Transitions.

How Far Are You Going?

If you are moving across town, or even across the state, doing the move by yourself might be the way to go. However the further you go, the more logistics become involved.

Costs go up exponentially the further away you are moving. Why? Because moving across the country can be hard work! Think of it this way: Would you rather save money? Or would you rather save time?

Think of it this way: Would you rather save money? Or would you rather save time?

Are You Comfortable Behind The Wheel?

Moving trucks can vary in size from about 12 to 30 feet. If you are towing your vehicle, you can add on at least another 10 feet. Do you have any experience driving a larger vehicle?

You will save quite a bit of money moving your items yourself. However, you need to make sure you will be comfortable driving a truck of this size, especially through metro areas.

However, you need to make sure you will be comfortable driving a truck of this size, especially through metro areas.

How Much Is Your Time Worth?

If you are moving across the country with a large moving truck, you are looking at a process that will take several days. You will need to stop more for gas and overall, you will be driving much slower than if you were driving just your vehicle.

You might need to make a few overnight stops as well. Once you factor in the time packing, loading, driving, unloading, unpacking… you might want to consider bringing in the pros. Professional movers are adept and efficient when it comes to getting you moved in quickly.

Once you factor in the time packing, loading, driving, unloading, unpacking… you might want to consider bringing in the pros. Professional movers are adept and efficient when it comes to getting you moved in quickly.

Will You Have Any Help?

If you are moving across town, you will likely be able to recruit (bribe) some friends or family to help you out. If you are moving to a new city entirely, you might not have that support base of people willing to help you out. Moving is tough, and if you are doing it all on your own, be prepared for some hard work ahead!

A couple of things to remember:

• Keep items you will need right away with you. Pack a suitcase as if you were going on a long trip. Keep toiletries, clothes, items for work/school and other daily items close by. There can me delays when using moving companies, so be prepared.
• You might also consider moving important items in your car, and leave the furniture to the pros. Load up your vehicle, and embark on that cross-country road trip you have always talked about! Make it an adventure!
• And when it comes to your furniture: If it is more expensive to ship than it’s worth, leave it behind. You will be better off selling or donating the item, and replacing it once you are in your new city.

If you are ready to relocate, we can help you with a stress-free transaction! Contact Eugene Hoffman today by filling out this form, or give our office a call now!

5 Tips For Moving With Kids in FL

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Whether you are moving across the street or across the country, moving with kids can be stressful on both you and them! Luckily, the move doesn’t have to be painful for anyone!

Check out our tips for moving with kids, and make your relocation a breeze! 

Thing to do in Orlando

Frequently Asked Questions

Tips For Moving With Kids!

Nobody likes saying goodbye. Not to their friends and not to the house they know and love. Moving can be especially hard for children who may not fully comprehend the reasons why you are moving or the reasons why the move will actually be better for them in the long run.

Tip #1: Talk To Them

As soon as the move is a definite go, share the news with your kids. Make them feel apart of everything, and openly discuss the new and exciting changes about to happen.

Reassure your children that all of their possessions, books, toys etc., will all be coming with them and share all of the wonderful and exciting benefits of the move.

Tip #2: Get to Know Your New House

If the house is nearby, get your kids excited by going to see it. Let them see their rooms and have them plan out how they want to decorate.

If you’re moving further away, show them lots of pictures and use google to learn all about the area.

You could even draw out the room, and let them decide how they want their furniture arranged.

Tip #3: Let Them Help With Packing

Make sure younger kids know that their stuff is being packed up and moved and not being thrown away. Older kids might understand the process, but it may be more difficult for little ones to grasp.

Let them help pack up their toys and then have them decorate their boxes so they will be easily recognizable after the move. As much as possible, try to get their items and room set up first, even if it means ordering pizza and keeping your kitchen in boxes for a couple days.

Having that sense of familiarity will help keep their anxiety down.

Tip #4: Get to Know The Neighbors and the New Area

As soon as possible, become a part of your new community. Introduce yourself to the neighbors. Invite people on your street over for a house warming party.

Participate in local activities that will allow both you and your kids to make new friends. If your child is on the shy side, talk to them about making new friends and help them think of ways to break the ice with the kids at their new school.

Tip #5: Keep Your Routines

Do you always get ice cream on Saturday afternoons? Or maybe you spend Sunday mornings at the park? Whatever routines you can keep, you should do so.

Try to remain consistent with meal times and bedtimes. Keeping kids in their routine will help keep them calm and will help you feel a sense of order.

Always remember, while moving might be hard on you, it might be even harder on your kids. As much as possible, stay positive with them and make the whole process a grand adventure. Make the process fun and memorable and as stress-free for them as possible. (It will help you feel more relaxed too!)

Are you looking to relocate with zero stress? Give Eugene Hoffman a call now 321-231-7100 or fill out this form and we will be in touch right away!

Relocating Because of Divorce? | Eugene Hoffman

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Do You Need To Sell Your House in Altamonte Springs?

Relocating Because of Divorce? 

Even if an agent can’t sell your house, we can help. (Sometimes selling a house through a real estate agent is not for everyone.)

And as a bonus…

• you don’t need to clean up and repair the property

• don’t waste time finding an agent who you trust and who can deliver on their promise of selling your house quickly

• you won’t need to sign a contract that binds you to an agent for a certain term

• or deal with the paperwork and the waiting and wondering (and hoping)

We’ll know very quickly if we can help you, and unlike selling through an agent, you don’t have to wait to see if the buyer can get financing… we’re ready to buy right now!

If you want to sell your house in Central Fl… we’re ready to give you a fair all-cash offer. People have found since 2011 that Eugene Hoffman LLC can Buy or Sell A House Fast In Altamonte Springs. My office is in Apopka. The Bear Lake neighborhood.

Stop the frustration of your unwanted property. Let us buy your Florida house now, regardless of condition.

Avoiding foreclosure? Facing divorce? Moving? Upside down in your mortgage? Liens? It doesn’t matter whether you live in it, you’re renting it out, it’s vacant, or not even habitable. We help owners who have inherited an unwanted property, own a vacant house, are behind on payments, owe liens, downsized and can’t sell… even if the house needs repairs that you can’t pay for… and yes, even if the house is fire damaged or has bad rental tenants.

Basically, if you have a property and need to sell it… we’d like to make you a fair cash offer and close on it when you’re ready to sell.

Relocating Because of Divorce?

“Sell My House Fast in Altamonte Springs. We buy houses in Orlando!”

We Buy Houses Anywhere In Orlando And Within This Area, And At Any Price. Check Out How Our Process Works. We’re Ready To Give You A Fair Offer For Your House.

We Buy Houses In Altamonte Springs!

Sometimes we can help with your moving cost!

How to Move if Your House Hasn’t Sold Yet in FL | Eugene Hoffman

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So you’ve found the house of your dreams. There’s just one problem: You haven’t been able to sell you house yet. So what do you do? In this article, we hope to help you figure out how to move if your house hasn’t sold yet in FL.

Moving can be tough when you are trying to buy and sell a home all at once. The FHA, Fanny Mae, and Freddie Mac all have rules about getting a second mortgage while you still own your home. If you want to secure an additional mortgage, you will have to clear a few hurdles.

How to Move if Your House Hasn’t Sold Yet in FL

First off, to qualify for a second mortgage through the FHA, you must meet certain qualifications.

You need to have a good reason for needing to move right away, and not after your current home has sold. For example, moving because your family needs a larger space, you are separating from your spouse or for work purposes.

Also, you cannot owe more than 75% of the value of the first home. There are additional restrictions as well, do your homework before assuming you will qualify for an additional loan through the FHA.

Asking family can be another route, so long as you put everything in writing.

Agree to pay them back in full upon the sale of your first house. Whenever you borrow money from family, you want clear terms to be set and adhered to.

If you think a family relationship could be damaged because of money, you might want to look for a different way to secure the financing you need.

A bridge loan or as it’s sometimes called, a “wrap” loan can help “bridge the gap while you attempt to cover two house payments.

These types of loans will take both mortgage payments, and combine them into one interest-only payment. These are typically short-term loans, lasting 6 months to one year.

Lenders have different requirements, but you must typically have great credit and be financing less than 80% of the value of both houses.

While it may not be your first choice, you can talk to your boss or plan administrator about borrowing from your 401k. 

Make sure you understand how the tax penalties will work, and pay yourself back after the sale of the original home. This may not be an option for everyone, but definitely, something to look into.

Try to offer the seller of the second home, the option to rent it back from you for a few months. 

Depending on their situation, they might love the idea of being able to stay in their home while they shop for a new one. If you are attempting to carry two mortgages, this is a great way to alleviate the cost.

Add in a contingency in your offer allowing you to close on the new home, only after your home has sold.

If your home is new to the market and priced well, it should sell right away. Present this to the owners of the second home, along with your offer. Ensure them that the closing won’t be delayed and that you agree to close in a certain amount of time

Whether you are looking to buy or sell, we can help you with all of your Real Estate needs! Fill out this short form, or give our office a call today! 321-231-7100