Orlando Avenue Blog » Orlando Buyers

Essential Tips for First-Time Homeowners: A Comprehensive Guide

January 11th, 2024 by tisner

Congratulations on becoming a first-time homeowner! Owning a home is an exciting milestone, but it also comes with a whole new set of responsibilities. From maintenance to budgeting, there’s a lot to consider. But fear not! In this comprehensive guide, we’ll provide you with essential tips to help you navigate the world of homeownership with confidence. Let’s dive in!

1. Prioritize Home Maintenance:

Keeping your new home in good shape is crucial. Regular maintenance can help prevent costly repairs down the line. Create a schedule for tasks like cleaning gutters, inspecting HVAC systems, and changing air filters. Don’t forget to maintain your lawn and garden too! A little effort now will go a long way in preserving the value and comfort of your home.

2. Understand Your Finances:

Owning a home comes with financial responsibilities beyond the monthly mortgage payment. Take time to understand your budget, including property taxes, insurance, and utility bills. Create an emergency fund to cover unexpected repairs or maintenance issues. It’s also wise to review your homeowners’ insurance policy and make sure it adequately covers your needs.

3. Get to Know Your Neighborhood:

One of the joys of homeownership is becoming part of a community. Take the time to explore your new neighborhood, meet your neighbors, and get involved in local activities. It’s a great way to find out about resources, services, and amenities that can enhance your living experience.

4. Stay Organized with Important Documents:

Keep all important documents related to your home in a safe, accessible place. This includes your mortgage agreement, insurance policies, warranties, home improvement receipts, and contracts with service providers. Having everything organized will save you time and stress if you need to refer to them later.

5. Plan for Home Improvements:

Make a list of home improvements you’d like to tackle over time. Prioritize them based on urgency and budget. Whether it’s updating the kitchen, remodeling the bathroom, or adding a deck, having a plan will help you achieve your vision for your home while staying within your means.

6. Learn Basic DIY Skills:

While it’s always good to call professionals for complex repairs, learning some basic DIY skills can save you time and money. Simple tasks like fixing a leaky faucet, changing light fixtures, or painting a room are handy skills to have. There are plenty of online tutorials and workshops available to help you get started.

7. Build a Reliable Support Network:

Don’t hesitate to seek advice from family, friends, or even online communities of homeowners. They can offer valuable insights and share their experiences. Additionally, having trusted professionals like plumbers, electricians, and contractors on speed dial will give you peace of mind when you need help.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

By and photo credit: blog.homekeepr.com/essential-tips-for-first-time-homeowners-a-comprehensive-guide

Posted in General Real Estate, Home Tips from Teri, Orlando Buyers | No Comments »

First Time Homebuyer Courses That Make the Process a Breeze

January 9th, 2024 by tisner

You are reading that correctly–classes for home buyers! If you are just starting the home-purchase process, you may get overwhelmed when you find out all that is involved. Sadly, it is not as easy as finding a house, paying for it, then moving in. It is a great idea to learn all you can about the purchase process as well as being a homeowner.

The Department of Housing and Urban Development has a list of free classes in every state, from credit counseling and home maintenance to housing for seniors. Select your state and find all that are available.
Sign up before you have found a house you want to purchase! However, if you are purchasing your home through FHA, USDA, or other agency, you may be required to take the courses.
Before deciding what workshop is best for you, make sure it is certified through HUD, and any credit courses are nonprofit and accredited by the National Foundation for Credit Counseling or the Association of Independent Consumer Credit Counseling Agencies.

Credit counseling should take place about six months before you start looking at homes so you can learn about improving your credit score and creating a budget. You want the highest credit score possible in order to receive pre-approval for a mortgage.
HUD-approved counseling agencies usually offer one-on-one sessions so you can get a better understanding of your financial situation, as well as answers to questions you may have.
Many workshops have more than one “instructor;” you will hear from lenders, appraisers, inspectors, and insurance agents who will discuss their roles in the home-buying process.
If there is no way to save or pay a 20% down payment, taking a workshop can help you find low down payment mortgages, as well as any grants that may be available in your community.

When dreaming of buying your own home, do not allow the amount of information to overwhelm you and keep you from even trying! All it takes is this first step, and you will find that a home-buyer course will show you will not be alone on the road to homeownership. Once you learn the ropes of the process, you will feel confident when you contact a RealtorⓇ to begin your search.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Posted in General Real Estate, Orlando Buyers | No Comments »

Orlando State of the Market November 2023

December 21st, 2023 by tisner

New Orlando Regional REALTOR® Association data shows inventory spikes as interest rates reach new heights.

State of the Market

Inventory for November was recorded at 8,202, up 5.0% from October when inventory was recorded at 7,813. This is the eighth month in a row inventory has risen.
Overall sales fell 17.8% from October to November. There were 1,996 sales in November, down from 2,429 sales in October. This is the sixth month in a row that home sales have fallen. A double-digit drop in sales from October to November is not out of the ordinary heading into the holiday season.
November’s interest rate was recorded at 7.3%, down from 7.8% in October, when rates reached their highest level in more than 22 years.
The median home price for November was recorded at $375,000, down slightly from $377,000 in October.
Homes spent an average of 46 days on the market (DOM) in November, up from 44 days in October.
New listings fell 7.8% from October to November, with 3,188 new homes on the market in November, compared to 3,456 in October.
“A balanced market is a six-month supply of homes. In November, for the first time since January 2019, we have more than four months of supply,” said Lisa Hill, Orlando Regional REALTOR® Association President. “With an increase in inventory and with interest rates showing signs of coming down, we have conditions for a strong, healthy market heading into 2024.”

Market Snapshot

Interest rates fell from 7.8% in October to 7.3% in November. This is 10.3% higher than November 2022 when interest rates were 6.6%.
Pending sales fell 3.6%, with 2,900 in October and 2,796 in November.
21 distressed homes (bank-owned properties and short sales) accounted for 1.1% of all home sales in November. That represents a 16.0% decrease from October, when 25 distressed homes sold.

Inventory

Orlando area inventory increased 15.6% from September to October. Inventory in September was 6,758, and inventory in October was 7,813.
The supply of homes increased to 3.22 months in October, up 21.8% from 2.64 months in September. A balanced market is six months of supply.
The number of new listings decreased from September to October by 2.5% – from 3,545 homes to 3,456 homes.

ORRA’s full State of the Market Report for September can be found here.

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month September be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Posted in 365 Orlando, Housing Market Stats, Orlando Buyers | No Comments »

Giving Back!

December 5th, 2023 by tisner

With a little less than a month left in the year, many begin to think about charitable donations. Once you’ve decided on an amount to give, there are a few things to keep in mind:

Did you give last year? Do a quick check of the organization’s website, or give them a call to see what sort of strides they’ve taken. If you’re not satisfied, or don’t see progress, consider another charity.
As difficult as it can be to narrow your donation to one organization, a larger gift can be more beneficial as one gift, instead of spreading your donations around.
Keep in mind that there are thousands of charities who don’t have it in their budgets to advertise. Consider giving to a local charity, or a national one that’s lesser known.
Once you’ve narrowed down your list, call the charities if you can’t find their mission statements online, and ask questions. It’s the best way to get the information you need.
Although there’s nothing wrong with giving to your alma mater or the hospital that took such great care of a family member, find out if your local homeless or domestic violence shelter needs help. These kinds of organizations usually struggle to make ends meet in providing services.
Make sure your charity is legitimate, and it’s very important to check their finances. Charity Navigator’s website will let your search a charity’s name and get feedback.
Because donations are tax-deductible, the IRS has a search tool that allows you to see what organizations are eligible for tax-deduction gifts. There are other handy options, such as seeing what organizations are no longer allowed to be considered exempt.
Avoid scams–charitable giving is at a high at the year’s end, and crooks abound. Use the above IRS search tool to make sure your charity is a legitimate charity.
Keep receipts, check stubs or letters of thanks for when you’re filing taxes. If your donation isn’t monetary, but something valued at over $5,000, the IRS requires an appraisal for your deduction.
Do you volunteer? Any out-of-pocket directly related expenses–even mileage–are tax deductible.
Keep in mind that last-minute online donations made December 30-31 are eligible for a tax write-off.

Deciding who should benefit from your generosity can be a tough or easy decision, depending on what you already know. Just look for charities that depend on your generosity to keep their doors open, or who need your physical presence to be successful. Giving isn’t always about money.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Tags: charitable donations, charity, community, donating, donations, giving back, orlando avenue top team, Orlando Sellers, Teri Isner
Posted in Just for Fun, Orlando Buyers | No Comments »

Fed’s Waller: Interest Rates to Remain Steady

November 30th, 2023 by tisner

Federal Reserve Gov. Christopher Waller signaled confidence in the slowing economy, saying inflation is slowly moving in the right direction.

WASHINGTON – A key Federal Reserve official raised the possibility Tuesday that the Fed could decide to cut its benchmark interest rate as early as spring if inflation keeps declining steadily.

The official, Christopher Waller, a member of the Fed’s Board of Governors, cautioned that inflation is still too high and that it’s not yet certain if a recent slowdown in price increases can be sustained. But he sounded the most optimistic notes of any Fed official since the central bank launched its aggressive streak of rate hikes in March 2022, and he signaled that the central bank is likely done raising rates.

Waller is regarded as a relatively “hawkish” official, meaning that he typically favors higher rates to combat inflation rather than low rates to boost job growth. But he has also become somewhat of a bellwether for the Fed’s overall rate-setting committee.

f inflation continues to cool “for several more months – I don’t know how long that might be – three months, four months, five months – that we feel confident that inflation is really down and, on its way, you could then start lowering the policy rate just because inflation is lower,” Waller said in remarks at the American Enterprise Institute, a Washington, D.C.-based think tank. “It has nothing to do with trying to save the economy or recession.”

Fed officials have previously suggested that eventually, cooling inflation would lead the Fed to cut rates. That’s because, adjusted for inflation, the central bank’s benchmark rate effectively rises as inflation falls.

And because the Fed’s key rate affects rates on consumer and business loans, like mortgages and credit cards, it becomes more of a drag on the economy. That’s why as inflation slows, the Fed could reduce its benchmark rate just to keep its inflation-adjusted level stationary.

Still, Waller’s remarks were a more explicit suggestion that such a scenario could occur as early as spring. Waller also said he thought the Fed’s short-term rate, which is at 5.4%, the highest in 22 years, is likely high enough to keep inflation headed down to the central bank’s 2% target.

“I am increasingly confident,” he said, that the Fed’s interest rate policies are “currently well-positioned to slow the economy and get inflation back to 2%,” Waller said.

Waller’s remarks Tuesday suggested that the Fed’s outlook for interest rates may have decisively shifted in the past few months. In September, the Fed’s policymakers had signaled that they expected to raise their key short-term rate once more this year. At their most recent meeting, which ended Nov. 1, they kept the rate unchanged. Now, with signs that inflation is cooling, the officials are considered virtually certain to keep rates steady again at their final meeting of the year, Dec. 12-13.

Waller’s remarks follow Chair Jerome Powell’s more cautious comments earlier this month, when Powell said “we are not confident” that the Fed’s key short-term interest rate was high enough to fully defeat inflation. The Fed has raised its rate 11 times in the past year and a half.

Inflation, measured year over year, has plunged from a peak of 9.1% in June 2022 to 3.2% in October. Waller said October’s inflation report, which showed prices were flat from September to October, “was what I want to see.”

In a speech in October, Waller noted that inflation had cooled rapidly even as the economy continued to grow at a healthy pace. “Something’s got to give,” he said, meaning that either the economy would have to slow or inflation might re-accelerate.

“I am encouraged by what we have learned in the past few weeks – something appears to be giving, and it’s the pace of the economy,” he said Tuesday.

Still, Waller cautioned that, given the uncertainties surrounding the outlook for the economy, “I cannot say for sure whether” the Fed has done enough to conquer inflation.

Skanda Amarnath, executive director at Employ America, an advocacy group, and a former Fed economist, said the Fed will be particularly attentive to inflation data at the beginning of 2024, because prices spiked in the first couple of months of the year in 2022 and 2023.

“If we get through the (first quarter) of this upcoming calendar year and inflation has not reared its head in quite the same ugly way we saw the previous few ones, I think the Fed will have a lot more confidence,” Amarnath said, which could “also mean the Fed is interested in possibly lowering interest rates.”

Waller noted that recent data on hiring, consumer spending, and business activity suggested that economic growth was cooling from its torrid 4.9% annual pace in the July-September quarter. Slower spending and hiring, he said, should help further cool inflation.

Last month’s figures “are consistent with the kind of moderating demand and easing price pressure that will help move inflation back to 2%, and I will be looking to see that confirmed in upcoming data releases,” Waller said.

Also Tuesday, another member of the Fed’s board, Michelle Bowman, who has long taken a more hawkish stance on inflation, said there were still too many uncertainties surrounding inflation and the economy to be sure that the Fed is done hiking rates.

“My baseline economic outlook continues to expect that we will need to increase (the Fed’s key) rate further,” Bowman said in a speech in Salt Lake City to the Utah Banker’s Association. “We should keep in mind the historical lessons and risks associated with prematurely declaring victory in the fight against inflation, including the risk that inflation may settle at a level above our 2% target.”

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Posted in 365 Orlando, Financing, Housing Market Stats, Orlando Buyers | No Comments »

Safely Decorating with Outdoor Lights!

November 28th, 2023 by tisner

It’s time to get the holiday house decorating in high gear, and you may have bought new light strands, but plan on mixing them with ones you have, or adding LED lights. Safety is important this time of year, and making the days merry and the nights bright means taking a few precautions.

Check your old lights for frayed wires, nicks or cuts along the outer cord, and broken bulbs. Broken bulbs can be replaced, but toss the frayed strands, or those with cuts.
Decorating the exterior of your house means the lights you use must be made for outdoors. Check the packaging or tag on the string to make certain.
Use clips or hangers that are UL-approved–do NOT nail, tack, or staple lights to any fixture.
If you’d like to light a tree in your yard, make absolute certain no power lines run through the branches, and keep any lighting at least ten feet from power lines.
Make sure your extension cords are specifically made for outdoor use, and have a three-pronged ground plug. Your receptacle should be a ground fault circuit interrupter (GFCI) outlet in case of electrical overload, it will shut off power. Portable outdoor GFCI’s are available for very little cost at Amazon.
Read and heed all labels when it comes to connecting strings of lights. If the label says only three can be connected to one another, start a new chain of lights after the third strand is in place. Also keep in mind that only strands with the same number of bulbs should be connected–in other words, don’t connect a 100-strand with two 25-strands.
Keep extension cords away from high-traffic areas, and out from under welcome mats or pavers.
Many people start decorating long before Christmas, but be aware that most non-commercial light strands are only safely exposed to the elements for 90 days. Any longer, and deterioration to the insulation will begin.
Avoid using a metal ladder if you’re having to get up high with your lights–use wooden or fiberglass instead.
Never leave lights on when you’re not at home, or asleep.
If you’re considering adding LED’s to your holiday display, make sure you don’t mix connecting with incandescent. Going all-LED will be costlier upon start-up, but will save money on your power bill, as well as in replacement costs–LED’s can last up to twenty years.

You don’t want a friendly neighborhood competition to turn into disaster, nor do you want a classic Clark Griswold power outage at home. Know your home’s electrical limits, and use common sense and care while you’re decorating.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Tags: christmas lights, holiday decorating, holiday lights, homeowners, orlando avenue top team, Orlando Sellers, Teri Isner
Posted in Home Tips from Teri, Just for Fun, Orlando Buyers | No Comments »