Although the economy has been a catalyst for many issues, some of the trickle-down effects have had positive effects on Orlando homes. One of the most notable is that families are drawing closer together.
Over the past thirty to forty years, the “steps” to take for growing up were always one, grow up and two, move out. Few parents ever considered that their now adult children might be moving back in to their quiet, empty Orlando homes. However, with the economic problems hitting millions of Americans, the number of multi-generational households is growing.
During the Great Recession and more specifically in 1940, approximately 25% of households were multi-generational. Homes often held children, grandchildren, and sometimes even great grandchildren – four familial generations. However, as the U.S. economy began to prosper and the baby boomer generation grew into adults, more homes became single family households. By 1980, only 12.1% of homes held more than one generation.
Now, the percentages are once again beginning to climb. Loss of jobs, foreclosed homes and lack of security has contributed to approximately 49 million Americans, or 16.1%, living in multi-generational homes. While this is far from ideal for those in a hurry to leave the nest, the benefits are many.
I once asked a single mother what it was like moving back in with her parents. She said, “It was hard at first, redefining the boundaries, but having my parents around has been a blessing in disguise. My kids have a stabilizing influence and extra attention, while I get occasional breaks that I normally wouldn’t get. We eat dinner together too, which helps build the family atmosphere for my kids. It’s not all smiles and roses, there’s a lot of compromise, but it works.”
For those who have been thinking about letting your family move in to your Orlando home, try to consider more than just the negatives. Look at the positives as well. And what could be more positive than closer family ties?
Whether you need to upgrade to a bigger family home or downgrade to a smaller one, we can help. Call us at 407-876-5771 for more information.
Sunday, August 1, 2010
Closing Deadline Extended for your Orlando Real Estate
If you’re in the middle of buying Orlando real estate, for which you’re hoping to get a Homebuyer Tax Credit of up to $8,000, you have more time to finalize it.
After a close brush with the deadline, Congress passed a 90-day extension of the Homebuyer Tax Credit closing deadline. The extension applies only to buyers who have written, binding contracts in place as of April 30, 2010. The new closing deadline is now September 30, 2010.
Extending the tax credit closing deadline will provide additional stability to Orlando real estate and real estate markets nationwide. Additionally, the National Association of REALTORS® (NAR) estimates that this new extension will help about 180,000 to 200,000 homebuyers who already signed purchase agreements and were likely to miss the June 30 deadline.
Those are two of the reasons the NAR worked closely with Congressional leaders on both sides of the aisle to get this extension approved. Voter pressure on House members also helped to push this bill through.
Have questions about the Homebuyer Tax Credit or any other questions about Orlando real estate? Give us a call today at 407-876-5771. We are happy to help.
After a close brush with the deadline, Congress passed a 90-day extension of the Homebuyer Tax Credit closing deadline. The extension applies only to buyers who have written, binding contracts in place as of April 30, 2010. The new closing deadline is now September 30, 2010.
Extending the tax credit closing deadline will provide additional stability to Orlando real estate and real estate markets nationwide. Additionally, the National Association of REALTORS® (NAR) estimates that this new extension will help about 180,000 to 200,000 homebuyers who already signed purchase agreements and were likely to miss the June 30 deadline.
Those are two of the reasons the NAR worked closely with Congressional leaders on both sides of the aisle to get this extension approved. Voter pressure on House members also helped to push this bill through.
Have questions about the Homebuyer Tax Credit or any other questions about Orlando real estate? Give us a call today at 407-876-5771. We are happy to help.
Thursday, July 1, 2010
Should You Add a Pool to Your Orlando Home?
There are many home improvements that add value to your Orlando home, but none add quite as much fun as a pool. Depending on where your home is located, having a pool may increase re-sale value because buyers in certain areas look for homes that already have pools installed.
A pool can provide relaxation, recreation, and health benefits during the summer months, and in some areas of the country, all year long. Before you get started putting in that pool, there are a few things to be aware of and prepare for.
Usage
The first thing to consider before you decide on adding a pool to your Orlando home is how often you will actually use it. Pool maintenance and installation are expensive, so if you can't use it often, adding a pool doesn’t make much sense.
Surface Area
Before beginning construction of either an above-ground or in-ground pool, you need to check your surface area—not the pool's, your land's. It should be relatively flat. If your Orlando home is on an incline, you need to create a stable, level base, and that could add a great deal of expense to your pool construction.
Air Space
The air above the site for your pool is important too. Most importantly, never place a pool beneath electrical wires. The area above your pool should also be clear of hanging branches. In fact, it’s a good idea to choose a spot with no close trees. While they make for great shade in the hot summer sun, they also make for harder clean-up and constant skimming because of falling leaves.
Fence it In
There is one final consideration before you jump in—a fence. A security fence is important to keep neighborhood children from invading your pool when you aren't around. A fence is also a crucial safety feature for pets and people. You don’t want anyone or anything accidentally falling into your pool.
If you would like to buy or sell an Orlando home with a pool, we can help. Contact us today at 407-876-5771.
A pool can provide relaxation, recreation, and health benefits during the summer months, and in some areas of the country, all year long. Before you get started putting in that pool, there are a few things to be aware of and prepare for.
Usage
The first thing to consider before you decide on adding a pool to your Orlando home is how often you will actually use it. Pool maintenance and installation are expensive, so if you can't use it often, adding a pool doesn’t make much sense.
Surface Area
Before beginning construction of either an above-ground or in-ground pool, you need to check your surface area—not the pool's, your land's. It should be relatively flat. If your Orlando home is on an incline, you need to create a stable, level base, and that could add a great deal of expense to your pool construction.
Air Space
The air above the site for your pool is important too. Most importantly, never place a pool beneath electrical wires. The area above your pool should also be clear of hanging branches. In fact, it’s a good idea to choose a spot with no close trees. While they make for great shade in the hot summer sun, they also make for harder clean-up and constant skimming because of falling leaves.
Fence it In
There is one final consideration before you jump in—a fence. A security fence is important to keep neighborhood children from invading your pool when you aren't around. A fence is also a crucial safety feature for pets and people. You don’t want anyone or anything accidentally falling into your pool.
If you would like to buy or sell an Orlando home with a pool, we can help. Contact us today at 407-876-5771.
Remodeling Your Orlando Home for Sale: Cost vs. Value
When considering a remodeling job for your Orlando home for sale in an effort to increase value, it’s hard to decide what should be done. Well, this isn’t exactly true. If your carpet is old, matted and outdated, for instance, you might want to start there. Grungy wooden kitchen cabinets? That’s another starting place.
However, if your Orlando home for sale is in darn good condition (if you do say so yourself) and you’re not being noticed by buyers, you just might be asking, “What can I do to improve?”
Well, for frustrated, confused homeowners, there is good news. You don’t have to guess. Twenty-two years ago, Remodeling magazine, with cooperation from REALTOR® Magazine, began publishing an annual “Cost vs. Value Report.” This report covers 33 possible home remodeling projects over 80 cities.
The recouped cost for many of these projects has been slowly declining since 2006 or, in some cases, rapidly dropping. However, the recently released 2009-10 Cost vs. Value Report for home remodeling shows some surprising increases.
If you just look at the trends from 2008-09 to 2009-10, you might think any type of addition or change would be a waste of money. When looking over the report, though, pay attention to the recouped cost. For instance, a little red arrow says a wooden deck addition is dropping in resale value, while the recouped cost is still 80.6%. Not bad in a hard buyer’s market.
If you don’t want to look at the report, I understand – it’s a lot of numbers. So, I’ve summarized some of the important bits for you:
Recouped cost of 75% or above
• Attic bedroom – 83% (up from 2008)
• Basement remodel – 75.4% (up)
• Wooden deck addition – 80.6% (up)
• Steel entry door replacement – 128.9% (up)
• Minor kitchen remodel – 78.3% (down)
• Vinyl siding replacement – 79.9% (down)
• Vinyl window replacement – 76.6% (down)
• Foam-backed vinyl siding replacement – 79.0% (down)
• Fiber-cement siding replacement – 83.6% (down)
• Vinyl window replacement – 76.5% (down)
Rising Trends from 2008 – 2009/10
• Fiberglass grand entrance
• Roofing replacement
• Steel entry door replacement
• Fiberglass entry door replacement
• Basement remodel
• Backup power generator
• Attic bedroom
So, where will you get the best bang for your buck for home remodeling? The trends say replacements. Buyers want security (steel doors), shelter (roofing) and energy savers (windows). They want the exterior to look good for less work (siding) and maybe an extra guest or child bedroom (attic). The great thing for you is: they’re willing to pay for it.
If you’re still wondering whether you’re remodeling the right area of your Orlando home for sale, read the report.
If you’d like to sell your home or are looking for a new home that’s already been remodeled (or that you can remodel), we can help. Call us today at 407-876-5771 for more information.
However, if your Orlando home for sale is in darn good condition (if you do say so yourself) and you’re not being noticed by buyers, you just might be asking, “What can I do to improve?”
Well, for frustrated, confused homeowners, there is good news. You don’t have to guess. Twenty-two years ago, Remodeling magazine, with cooperation from REALTOR® Magazine, began publishing an annual “Cost vs. Value Report.” This report covers 33 possible home remodeling projects over 80 cities.
The recouped cost for many of these projects has been slowly declining since 2006 or, in some cases, rapidly dropping. However, the recently released 2009-10 Cost vs. Value Report for home remodeling shows some surprising increases.
If you just look at the trends from 2008-09 to 2009-10, you might think any type of addition or change would be a waste of money. When looking over the report, though, pay attention to the recouped cost. For instance, a little red arrow says a wooden deck addition is dropping in resale value, while the recouped cost is still 80.6%. Not bad in a hard buyer’s market.
If you don’t want to look at the report, I understand – it’s a lot of numbers. So, I’ve summarized some of the important bits for you:
Recouped cost of 75% or above
• Attic bedroom – 83% (up from 2008)
• Basement remodel – 75.4% (up)
• Wooden deck addition – 80.6% (up)
• Steel entry door replacement – 128.9% (up)
• Minor kitchen remodel – 78.3% (down)
• Vinyl siding replacement – 79.9% (down)
• Vinyl window replacement – 76.6% (down)
• Foam-backed vinyl siding replacement – 79.0% (down)
• Fiber-cement siding replacement – 83.6% (down)
• Vinyl window replacement – 76.5% (down)
Rising Trends from 2008 – 2009/10
• Fiberglass grand entrance
• Roofing replacement
• Steel entry door replacement
• Fiberglass entry door replacement
• Basement remodel
• Backup power generator
• Attic bedroom
So, where will you get the best bang for your buck for home remodeling? The trends say replacements. Buyers want security (steel doors), shelter (roofing) and energy savers (windows). They want the exterior to look good for less work (siding) and maybe an extra guest or child bedroom (attic). The great thing for you is: they’re willing to pay for it.
If you’re still wondering whether you’re remodeling the right area of your Orlando home for sale, read the report.
If you’d like to sell your home or are looking for a new home that’s already been remodeled (or that you can remodel), we can help. Call us today at 407-876-5771 for more information.
Preparing Orlando Homes for Quick Sale
For homeowners getting ready to put their Orlando homes on the market, here are a few stunningly-easy tips to help get your home sold faster and maybe even for more money.
Keep in mind that your prospective buyers will most likely be viewing several Orlando homes on the same day as your showing. The emotional elements you include will have a profound impact on their memory, and will make your home standout when they review what they’ve seen with their agents at day’s end.
Preparing your home for the perfect showing is essential and comprises three basic elements that will make your home sparkle.
Atmosphere
• Soft classical music
• Simmering potpourri
• Bake an apple pie in the oven. Or, if you have a bread machine, bake bread.
• Well-lit rooms and inviting indirect lighting
• Air conditioning or heating set at a comfortable temperature
Decorations
• Garden-fresh bouquet of flowers near the entrance or on the kitchen table
• Fresh neutral-colored paint and cleaned or new carpet
• Remove family photos or personal items (allows buyer to imagine it is their home)
Cleanliness
• Meticulously spotless kitchen and bath
• Walls washed and spackled as needed
• No clutter whatsoever (uncluttered rooms look larger)
• No pets – kennel them if needed (buyer may be allergic)
• Clean closets (yes, people peek in your closets)
Remember it’s the little things in life that matter, and the same is absolutely true when it comes to a buyer looking for a place to call home-sweet-home.
For more ideas on how to sell fast and make the most from the sale of your Orlando home, call us today at 407-876-5771.
Keep in mind that your prospective buyers will most likely be viewing several Orlando homes on the same day as your showing. The emotional elements you include will have a profound impact on their memory, and will make your home standout when they review what they’ve seen with their agents at day’s end.
Preparing your home for the perfect showing is essential and comprises three basic elements that will make your home sparkle.
Atmosphere
• Soft classical music
• Simmering potpourri
• Bake an apple pie in the oven. Or, if you have a bread machine, bake bread.
• Well-lit rooms and inviting indirect lighting
• Air conditioning or heating set at a comfortable temperature
Decorations
• Garden-fresh bouquet of flowers near the entrance or on the kitchen table
• Fresh neutral-colored paint and cleaned or new carpet
• Remove family photos or personal items (allows buyer to imagine it is their home)
Cleanliness
• Meticulously spotless kitchen and bath
• Walls washed and spackled as needed
• No clutter whatsoever (uncluttered rooms look larger)
• No pets – kennel them if needed (buyer may be allergic)
• Clean closets (yes, people peek in your closets)
Remember it’s the little things in life that matter, and the same is absolutely true when it comes to a buyer looking for a place to call home-sweet-home.
For more ideas on how to sell fast and make the most from the sale of your Orlando home, call us today at 407-876-5771.
Friday, June 4, 2010
“Incentivizing” the Buyer for Orlando Homes for Sale
The Federal Government envisions a secure and stable marketplace for national and Orlando homes for sale, thus their involvement. We may or may not like the politics, but the fact remains that the marketplace has stabilized somewhat, and prices are leveling in anticipation of an upward turn.
No matter the actual state of the market, the simple fact is that motivated buyers and sellers for Orlando homes for sale do still exist. If not, a lot less people would visit this site.
If you market your home correctly, the opportunity to sell is still promising. After all, interest rates are favorable, prices are realistic and the government has thrown some interesting incentives to buyers, sellers and lenders alike.
You and your real estate agent have the ability to induce buyers to act. If your agent is experienced, he or she will work with you to develop incentives and add appeal to the transaction.
Step 1: Provide Factual Information
Facts outweigh rumor, and having provable information helps get rid of the buyer’s reservations. Here are some of the main facts you and your agent need to have at your fingertips in order to induce buyers to act:
• Knowledge of all local, state and federal tax incentives available to residents of your area
• Knowledge of all projected closing costs
• An understanding of the buyer’s financial and domestic qualifications
• Complete knowledge of the school system and all community services and costs
• Expertise concerning the history and composition of the home
• Knowledge of any planned growth in the area
Step 2: Provide Incentives
The "incentivizing" (no, that’s not a real word) of your home involves several factors. Some incentives may be more creative than others. Here are a few ideas:
• Offer a one-year home warranty program through a third party provider. This is a popular way to relieve buyers of some of their reservations. The idea is based on getting rid of unexpected expenses and the possibility of hidden costs.
• Have the seller pay part of the closing costs.
• Combine the above two incentives with a flexible closing date to make Orlando homes for sale that much more attractive.
Want help "incentivizing" your home to get it sold? Give us a call today at 407-876-5771 to find out how I can help sell your home.
No matter the actual state of the market, the simple fact is that motivated buyers and sellers for Orlando homes for sale do still exist. If not, a lot less people would visit this site.
If you market your home correctly, the opportunity to sell is still promising. After all, interest rates are favorable, prices are realistic and the government has thrown some interesting incentives to buyers, sellers and lenders alike.
You and your real estate agent have the ability to induce buyers to act. If your agent is experienced, he or she will work with you to develop incentives and add appeal to the transaction.
Step 1: Provide Factual Information
Facts outweigh rumor, and having provable information helps get rid of the buyer’s reservations. Here are some of the main facts you and your agent need to have at your fingertips in order to induce buyers to act:
• Knowledge of all local, state and federal tax incentives available to residents of your area
• Knowledge of all projected closing costs
• An understanding of the buyer’s financial and domestic qualifications
• Complete knowledge of the school system and all community services and costs
• Expertise concerning the history and composition of the home
• Knowledge of any planned growth in the area
Step 2: Provide Incentives
The "incentivizing" (no, that’s not a real word) of your home involves several factors. Some incentives may be more creative than others. Here are a few ideas:
• Offer a one-year home warranty program through a third party provider. This is a popular way to relieve buyers of some of their reservations. The idea is based on getting rid of unexpected expenses and the possibility of hidden costs.
• Have the seller pay part of the closing costs.
• Combine the above two incentives with a flexible closing date to make Orlando homes for sale that much more attractive.
Want help "incentivizing" your home to get it sold? Give us a call today at 407-876-5771 to find out how I can help sell your home.
Buying an Orlando Home: Free Credit Reports Not All They Seem
You’ve finally decided that, yes, you can afford to buy a Orlando home. After years of frugal saving, hard work and patient waiting, the timing is great. You don’t want to wait anymore, so you rush out and start looking for homes. It is, after all, a buyer’s market, and you’re a buyer.
Now, if you read about real estate, you’ve probably considered your credit. Is my credit strong enough? Is my score high enough? Some go to lenders and request preapproval. A few request prequalification. Many, however, go to the “free” credit score searches.
Of those who use the credit score searches, some find an Orlando home they want to buy. They then confidently take their credit reports to the lenders and find out the lenders don’t care about the reports. Others find out that the “free” doesn’t really mean free.
Generally, these credit reporting services are helpful, but most aren’t free. You sign up to get your report and, in the fine print, you’re agreeing to enroll in services that require a monthly fee. The services you end up paying for can be somewhat helpful. But many people sign up not knowing what they’re getting into. If you want those types of monthly services, research the companies and don’t fall for scam sites, because they’re out there.
Why won’t leaders use the credit reports you take to them?
They can’t use the credit scores you bring to them. In fact, they’re required to request credit scores on their own. And, the credit reports lenders get may not reflect what you receive from the reporting services you hired.
Typically, lenders use the median FICO Scores from three credit bureaus: Equifax, Experian and TransUnion. Those FICO Scores may not be the same from bureau to bureau. Some of the “free” credit places provide these scores, but usually from only one bureau rather than all three.
So what should you do?
Talk to the lender. Get preapproved, not prequalified. Not only will you find out how good your credit really is, but you’ll also be more attractive to sellers. And, preapproval tells you exactly how much you can reasonably afford to spend on your new Orlando home.
If you’re looking for a beautiful home to call your own, we can help. Call us at 407-876-5771 for more information.
Now, if you read about real estate, you’ve probably considered your credit. Is my credit strong enough? Is my score high enough? Some go to lenders and request preapproval. A few request prequalification. Many, however, go to the “free” credit score searches.
Of those who use the credit score searches, some find an Orlando home they want to buy. They then confidently take their credit reports to the lenders and find out the lenders don’t care about the reports. Others find out that the “free” doesn’t really mean free.
Generally, these credit reporting services are helpful, but most aren’t free. You sign up to get your report and, in the fine print, you’re agreeing to enroll in services that require a monthly fee. The services you end up paying for can be somewhat helpful. But many people sign up not knowing what they’re getting into. If you want those types of monthly services, research the companies and don’t fall for scam sites, because they’re out there.
Why won’t leaders use the credit reports you take to them?
They can’t use the credit scores you bring to them. In fact, they’re required to request credit scores on their own. And, the credit reports lenders get may not reflect what you receive from the reporting services you hired.
Typically, lenders use the median FICO Scores from three credit bureaus: Equifax, Experian and TransUnion. Those FICO Scores may not be the same from bureau to bureau. Some of the “free” credit places provide these scores, but usually from only one bureau rather than all three.
So what should you do?
Talk to the lender. Get preapproved, not prequalified. Not only will you find out how good your credit really is, but you’ll also be more attractive to sellers. And, preapproval tells you exactly how much you can reasonably afford to spend on your new Orlando home.
If you’re looking for a beautiful home to call your own, we can help. Call us at 407-876-5771 for more information.
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