If you are like the rest of us then just a few days ago you made a list of New Year resolutions.   Many of us however do not stick to our plan when it comes to these promises we make ourselves.  If you plan to purchase a home sometime in this New Year you need to make a few related resolutions that will likely help you to attain your goal and dream of home ownership.  Below these resolutions are listed for you.

1. Stop opening credit cards.  It is easy these days especially when you are shopping, to open one credit card after the other.  If buying a home is on your to do list this year however, you need to steer clear of opening new credit cards.
2. Start paying your student loans on time every time. Many times when folks get student loans they tend to think they can pay them as they can but that can mess up your credit in no time.  If someone who has good credit and shows they are good at paying bills on time every time puts a bid in on a house you have your eye on and you put a bid on that house as well, it’s likely due to their history that they will win the bid and not you.
3. Start paying your credit cards every month and on time. Even if you can’t afford to pay more than just the minimum payment you need to make sure you pay your credit card each and every month.   This type of diligence will serve you well when you go to make an offer on a house.
4. Make sure you have a little bit of a cash reserve in your bank account at all times. It won’t look good to a mortgage lender when you ask for a loan if you have a zero balance in your bank account.
5. Stick with the same job for as long as you can. Jumping from one job to another during a year is a sure fire way to lose your chance at the home of your dreams.  Lenders want to see stability and staying with the same job for a few years will show them that.

These New Year resolutions, if you do your best to keep them, will do their part towards helping you to purchase the home you have always dreamed about.

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.

State of the Market
“The housing market typically experiences a slowdown during the holiday season, and with high interest rates and economic uncertainty, this season’s slowdown may be especially significant,” said Tansey Soderstrom, Orlando Regional REALTOR® Association President. “While there is a lot of uncertainty with where the housing market is headed, buyers in the Orlando area have twice as many homes to consider than they did a year ago, and for sellers, home values and prices continue to remain steady.”

– The median home price for November was recorded at $360,000, down from $365,000 in October.

– Overall sales fell from October to November. There were 1,996 sales in November – down 26.5% from 2,716 sales in October. This is the lowest number of monthly home sales in nearly four years, dating back to January 2019. Overall sales in November 2022 were 45.5% lower than November 2021 when there were 3,664 sales.

– Orlando area inventory slightly increased by 1.0% from October to November from 7,128 homes to 7,197 homes. Inventory in November 2022 was 136.3% higher than in November 2021, when it was recorded at 3,046 homes.

– Interest rates decreased from 7.0% in October to 6.6% in November. This is 122.9% higher than November 2021 when interest rates were 3.0%.

– 9 distressed homes (bank-owned properties and short sales) accounted for 0.5% of all home sales in November. That represents a 55.0% decrease from October, when 20 distressed homes sold.

– New listings decreased by 14.6% from October to November, with 2,597 new homes on the market in November.

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

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: www.orlandorealtors.org

Orlando Area Residential Real Estate Snapshot for October-2022

State of the Market

• October’s interest rate was recorded at 7%, a 10% increase from September when the interest rate was 6.3%. The last time interest rates were this high was May 2002.
• That 7% interest rate in October 2022 was 131% higher compared to October 2021 when the interest rate was recorded at just 3%.
• Inventory rose 3.5% from September to October, from 6,884 to 7,128. This is the eighth straight month of inventory increases.
• Inventory in October 2022 was 109.3% higher compared to October 2021, when it was recorded at 3,406 homes.
• Homes spent an average of 38 days on the market in October, up from 31 days in September.
• New listings decreased by 8.3% from September to October, with 3,041 new homes on the market in October.
• Overall sales in October held steady from September. There were 2,716 sales in October – down one sale from September.
• The median home price for October was recorded at $365,000, the same median home price recorded in September. This comes after three consecutive months of decreasing median home prices.
• “We have the perfect storm of economic uncertainty in the U.S. accompanied by the highest interest rates Orlando has seen in more than 20 years,” said Tansey Soderstrom, Orlando Regional REALTOR® Association President. “Rapidly rising interest rates are having a huge impact on buying power. Home Prices and sales are flat from September to October, but rising rates are causing buyers to look at different price points in order to find a monthly mortgage payment that they are comfortable with.”

Market Snapshot

• Interest rates increased as the average interest rate for October was recorded at 7%. This is 131% higher than October 2021 when interest rates were 3%.
• Pending sales decreased by 24% from September to October for a total of 2,915 pending sales.
• 20 distressed homes (bank-owned properties and short sales) accounted for 0.7% of all home sales in October. That represents a 66.7% increase from September, when 12 distressed homes sold.

Inventory

• Orlando area inventory increased by 3.5% from September to October from 6,884 homes to 7,128 homes. Inventory in October 2022 was 109.3% higher than in October 2021, when it was recorded at 3,406 homes.
• The supply of homes increased to 2.62 months in October. This is the third month since June 2020 with over two months of supply. A balanced market is six months of supply.

• The number of new listings decreased from September to October by 8.3% down to 3,041 homes.

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

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: www.orlandorealtors.org

Orlando Area Residential Real Estate Snapshot for September-2022

New Orlando Regional REALTOR® Association data shows interest rates surge as home sales see biggest drop since January 2022

State of the Market

• September’s interest rate was recorded at 6.3%, a 19.5% increase from August when the interest rate was 5.3%.
• Overall sales in September dropped by 18.3% for a total of 2,717 sales compared to 3,324 sales in August.
• Overall sales dropped 28.3% in September 2022 compared to September of last year.
• The median home price for September 2022 was recorded at $365,000, a decrease of 3.4% compared to August’s median home price, $377,750. This is the third month in a row that the median home price has fallen.
• Inventory rose 1.8% in September, from 6,762 to 6,884. This is the fifth straight month of inventory increases.
• Homes spent an average of 31 days on the market in September, jumping 14.8% from August when the average was 27 days.
• New listings decreased by 27.1% from August to September, with 3,318 new homes on the market in September.
• “We are starting to feel the impacts of rising interest rates on the Orlando housing market as they have more than doubled over the past 12 months,” said Tansey Soderstrom, Orlando Regional REALTOR® Association President. “Rising interest rates are causing buyers to be more cautious, resulting in fewer Orlando home sales for the month of September. This cooling off in sales does have an upside for buyers, as they now have the luxury of being more patient when looking for a home.”

Market Snapshot

• Interest rates increased as the average interest rate for September was recorded at 6.3%. This is 120.9% higher than September 2021 when interest rates were 2.9%.
• Pending sales decreased by 8% from August to September for a total of 3,838 pending sales.
• 12 distressed homes (bank-owned properties and short sales) accounted for 0.4% of all home sales in September. That represents a 100% increase from August, when 6 distressed homes sold.

Inventory

• Orlando area inventory increased by 1.8% from August to September from 6,762 homes to 6,884 homes. Inventory in September 2022 was 87.9% higher than in September 2021, when it was recorded at 3,664 homes.
• The supply of homes increased to 2.53 months in September. This is the second month since June 2020 with over two months of supply. A balanced market is six months of supply.
• The number of new listings decreased in September from August by 27.1% down to 3,318 homes.

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

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.

Get Orlando Daily News delivered to your inbox! Subscribe here!

By: www.orlandorealtors.org

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.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Source: www.floridarealtors.org, Paul Davidson

New Orlando Regional REALTOR® Association data shows median home price falls for second consecutive month as homes spend more days on the market

State of the Market

• The median home price for August 2022 was recorded at $377,750, a slight decrease of 0.8% compared to July’s median home price, $380,900. This is the second month in a row that the median home price has fallen.
• Inventory rose 3.7% in August, from 6,518 to 6,762. This is the fourth straight month of inventory increases.
• Homes spent an average of 27 days on the market in August, jumping 28.6% from July when the average was 21 days.
• Interest rates remained relatively flat – 4% in July vs. 5.3% in August.
• Overall sales in August also remained flat, with a 0.5% increase for a total of 3,324 sales compared to 3,309 sales in July.
• Overall sales dropped 16.9% in August 2022 compared to August of last year.
• New listings decreased by 4.1% from July to August, with 4,550 new homes on the market in August.
• “With a drop in median home price and another inventory increase, we are seeing the Orlando housing market level out as we continue to move away from a period of volatility and enter a period of stability,” said Tansey Soderstrom, Orlando Regional REALTOR® Association President. “This is good for both buyers and sellers, as they can take a slower, more measured approach to buying or selling a home.”

Market Snapshot

• Interest rates fell slightly as the average interest rate for August was recorded at 5.3%. This is 86.1% higher than August 2021 when interest rates were 2.8%.
• Pending sales increased by 3.5% from July to August for a total of 4,171 pending sales.
• 6 distressed homes (bank-owned properties and short sales) accounted for 0.2% of all home sales in August. That represents a 66.7% decrease from July, when 18 distressed homes sold.

Inventory

• Orlando area inventory increased by 3.7% from July to August from 6,518 homes to 6,762 homes. Inventory in August 2022 was 85.9% higher than in August 2021, when it was recorded at 3,638 homes.
• The supply of homes increased to 2.03 months in August. This is the first month since June 2020 with over two months of supply. A balanced market is six months of supply.

• The number of new listings decreased in August from July by 4.1% down to 4,550 homes.

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.

Get Orlando Daily News delivered to your inbox! Subscribe here!

By: www.orlandorealtors.org

Choosing laminate wood flooring for a home is a really good decision for a homeowner.  Laminate flooring has come a long way since its beginning a few decades ago, with better quality, ease of installment, and varieties to choose from–you can even get laminate to look like stone! Caring for this manufactured product can be tricky, but with the right cleaning and care, it can look great for years to come.

    Protecting the Floor

• Laminate flooring isn’t real wood–it’s an image of wood adhered to fiberboard, with a bottom that is moisture damage-resistant. It is covered with a clear protectant that is hard enough to protect it from scratching and pitting.
• Although it is made to prevent moisture damage, it still needs to be protected from liquids. Any spills need to be cleaned up as quickly and thoroughly as possible.
• The top layer of sealant is there to protect the floor, but if the dining room chairs are constantly pulled from the table, put some felt pads on the legs to prevent any scratching.
• Other pieces of furniture that don’t get moved often still may need something under the legs, and felt pads or newer style plastic casters work perfectly for heavier pieces.
• High traffic areas are best protected with area rugs and runners. Be sure to use a gripper mat or tape underneath rugs to prevent slipping.
• Even though laminate is great for homes with pets, they can still get scratched in extreme situations. Keep pet’s toenails trimmed to prevent this. Pet accidents need to be cleaned immediately to prevent moisture damage and stains.
• Some toys with sharp edges can dent or pit the floor, so they should be used with care, or in places protected with area rugs.
• Sometimes an area of the floor can get damaged, and the best solution is to call the manufacturer to get their advice. Most even sell repair kits for small DIY jobs.

Keeping It Clean

• The first defense in keeping any floor clean is a mat on both sides of a door that leads outside. A “no shoes” policy could even be put in place to keep even more dirt out, as well as preventing scuff marks.
• Removing dirt and small particles is best done on laminate floors with a microfiber cloth or mop. Sweeping with a broom can scratch the surface over time, and usually doesn’t get all of the dirt, anyway.  Many styles of reusable and washable cloth floor cleaners are available and are perfect for laminate.
• Electric sweepers are also excellent for vacuuming dirt and pet hair. Make sure any vacuum-type sweeper has a gentle brush motion.  Too heavy, and it can scratch.
• Mopping can create streaks because of too much detergent in the cleaner. The best solution for mopping grime or sticky spills is using two parts warm water, one part white vinegar, a few drops of dishwashing liquid, and a drop or two of lemon essential oil. The essential oil helps keep the vinegar odor down, but that smell fades quickly.  Mix this in a spray bottle, and spray each area as you mop.  The less liquid used, the better for the floor.
• In case of streaks, use a microfiber cloth or cloth diaper to buff the floor. These are best for a great shine on the floor. Never use dusting spray, as it can cause floors to be slippery.

Laminate flooring can be an asset to a home, without the expense and extra work a hardwood floor can bring. Without a lot of extra cost, the flooring can look new for many years, as long as attention is paid to its care and cleaning.

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.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Sometimes your circumstances change, and you find yourself needing to buy a home ASAP!  In the past, you’ve looked at houses for a month online before you start actively looking, taking your time to find an agent.  Now, however, your new job needs you as soon as you can get there, but how quickly can you buy a new house?  Faster than you think if you follow these tips! 

• Find a buyers agent that has a reputation for handling sales efficiently.  You want someone who understands your need to buy quickly, but who will also make sure you’re not making huge mistakes in the process. 
• Make sure your credit score is in good standing, and gather all paperwork necessary for the lender:  tax returns from past years, current pay stubs, bank statements, documentation for rent payments if you’re a renter, gift letter if someone is gifting part of the down payment, and proof of any assets you may have. 
• Don’t just get pre-qualified for a mortgage–get pre-approved.  This way, you’ll know exactly what you can afford, and when you make an offer, the seller will be certain you are serious about buying the house. 

• You might have to forgo the perfect house dreams, but don’t sacrifice your must-haves.  That said, not being extremely picky with what you want in a house will see your success a few steps closer.   
• When you talk to your agent, ask them to look for homes that have been on the market for a while.  This may give you some leeway in the offer process because the seller is likely somewhat anxious to sell. 
• If you have any equity in the home you will be moving from, and you don’t want to lease or rent it, selling as quickly as you are able will give you a head start on the purchase of a new home.   
• Be prepared to put your belongings in storage if you do sell before you buy, and talk to friends or relatives about staying with them temporarily. 
• You’ll want a transaction without a lot of contingencies so there isn’t a lot of time-consuming negotiating, but be careful about what you are willing to let go to buy the property.   

• Don’t go AWOL during the process–sure you’ll be busy getting packed up and prepping for a move, but you need to be available to your agent so no time is wasted.   

The best tip is to get started as soon as you know you have to move–the more time you have to take care of buying a new home, the better the outcome will be, saving you time, money, and future headaches.   

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.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Photo credit: realtor.com