Florida is well known for all of the damage caused during our stormy seasons.  The power of wind can burst open windows, doors, split open walls, creating and increasing uplift forces on the roof.   Once the wind breaks open any part of the home, wind and water will enter and damage to the interior escalates dramatically.

Homeowner’s insurance companies offer premium discounts based on a home’s level of wind resistance. These wind mitigation inspections are used to determine whether specific protective reinforcements are in place, therefore decreasing the amount of damage your home may receive during a hurricane or strong storm. A home with these features is less likely to incur costly repairs  during a “high wind event” which saves the insurance company money.

What is Wind Loss Mitigation? Mitigation is the act of making a condition less severe. Therefore wind loss mitigation is the act of minimizing loss that might be caused by wind damage to your home.

History Behind the Credits
After the devastating 2004 Hurricane season many Florida based insurance companies were forced to increase premiums due the substantial losses they occurred. The Florida Legislature saw the rising premiums as a problem for Floridians so they agreed that if homeowners made steps to make their homes more secure from wind loss, they should be rewarded by a reduction in insurance premium.

So How Do I Get the Credits?

In order to get credits you must have a Wind Mitigation report completed by a licensed inspector. Many people believe that their Homeowners carrier is responsible for paying for the report, but that is not the case. That being said, the mitigation report usually pays for itself within the first year, with prices ranging from $70 – $125. These prices are typically reduced if you purchase another report from the inspector, such as a 4-point inspection.

Make Sure You Request the 2012 Form!

Most carriers are now requiring that the Wind Mitigation Report to be on the 2012 form. If you have an older form, you will most likely have to get a new mitigation completed to apply for credits.

Premium Credits for Wind Mitigation Construction Features 

Roof Age: If your roof was replaced on or after March of 2002, it most likely is eligible for the Florida Building Code of 2001 credit. This code required contractors to use improved construction techniques, thus making roofs sounder.

Roof Covering: Common types include shingles, clay tiles, metal, and built-up-tar and gravel. The key factor in roof covering performance is the method of attachment of the roof covering to the roof deck.  This feature must meet or be equivalent to the Florida Building Code which has specific material and attachment specifications which are superior to building practices in the past.

Roof Deck Material & Attachments: The method used to connect the roof decking (plywood, metal panels, etc.) to the roof trusses or rafters. The performance of the roof deck is of critical importance in keeping hurricane losses to a minimum. This is usually achieved by nail fasteners. Nail size, type, spacing, and penetration depth into the truss or rafters determines the uplift resistance of the deck.  The difference in uplift capacity of 8d (2 ½”) nails at a typical nail spacing and 6d (2 ½”) nails at the same spacing is a factor of about two times stronger.

Roof-to-Wall: This is another critical connection that keeps the roof on the building and acts to transfer the uplift loads into the vertical walls.  This connection is KEY to the performance of the building due to the large negative pressures acting on the roof.

Secondary Water Resistance: Material applied to the roof covering to prevent water from intruding into the structure when the roof covering fails.  Roof coverings often begin to peel off in peak wind gusts ranging from 70 to 100 mph.

Roof Shape: Roof shape refers to the geometry of the roof.  There are many common roof shapes in residential construction, including gable, hip, and flat (and many possible combinations).  Some roof slopes and configurations perform better than others.   Moderate roof slopes don’t tend to uplift the roof and push the building sideways and hip roofs provides greater stability during high winds regardless of which direction the wind blows.  *A HIP shaped roof receives the largest insurance discount. This may help a protective home buyer consider which home to buy.

Opening Protection: Openings in the wall and roof include windows, doors, sliding glass doors, skylights, and garage doors.  Openings are vulnerable to wind-borne debris impacts in hurricanes and other windstorms. The protection of openings is perhaps the greatest single loss mitigation strategy for a building.  The reason for this is that once a window or door fails the pressure inside of the structure increases due to the breach in the building envelope.  Thus, putting all openings in an overload situation; resulting in additional failures.  The inspector is looking for glazed (glass) openings with specific ratings and or shutters protecting them.

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: Tracy Sihle,  Sihle Insurance Group

State of the Market

• July’s interest rate was recorded at 6.8%, up slightly from 6.7% in June. This is the second-highest interest rate in Central Florida in 20 years. October 2022 had the highest interest rate in 20 years at 7.0%
  • In ORRA’s new survey of Orlando REALTORS, 43% of respondents said that rising interest rates are the biggest challenge facing buyers, causing some buyers to wait out purchasing homes right now or look at lower price points.
• Overall sales fell 8.7% from June to July. There were 2,852 sales in July, down from 3,124 sales in June. Sales in July 2023 were also 13.8% lower than July 2022, when there were 3,309 sales.
• Inventory for July was recorded at 5,720, up 5.0% from June when inventory was recorded at 5,450.
  • Low inventory was cited as the second biggest issue facing buyers in ORRA’s new survey.
• The median home price for July was recorded at $380,000, down from $385,000 in June. This is the first month this year that median home price has fallen.
• Median home price in July 2023 was extremely close to July 2022, when it was recorded at $380,900.
• New listings fell 7.8% from June to July, with 3,413 new homes on the market in July, compared to 3,703 in June.
• Homes spent an average of 39 days on the market (DOM) in July, down from 41 days in June. This is still 85.7% higher than July 2022 when homes spent an average of just 21 days on the market.
  • Last year, 63% of Orlando REALTORS said clients were selling their homes in 10 days or less. This year, only 34% said clients are selling their homes in 10 days or less.
• “Approaching the end of summer with interest rates at nearly their highest level in 20 years, we are seeing an impact on both buyers and sellers,” said Lisa Hill, Orlando Regional REALTOR® Association President. “More homeowners are being locked into ‘golden handcuffs’ – where they’re choosing to stay in their current homes to keep their low mortgage rates, which could be 3% or lower – and more buyers are choosing to wait in hopes that rates go down.”

Market Snapshot

• Interest rates increased from 6.7% in June to 6.8% in July. This is 27.7% higher than July 2022 when interest rates were 5.4%.
• Pending sales fell, with 3,964 in June and 3,808 in July.
• 25 distressed homes (bank-owned properties and short sales) accounted for 0.9% of all home sales in July. That represents a 10.7% decrease from June, when 28 distressed homes sold.

Inventory

• Orlando area inventory increased 5.0% from June to July. Inventory in June was 5,450 and inventory in July was 5,720.
• The supply of homes increased to 2.01 months in July, up 15.0% from 1.74 months in June. A balanced market is six months of supply.

• The number of new listings decreased from June to July by 7.8% – from 3,703 homes to 3,413 homes.

ORRA’s full State of the Market Report for July 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

Use this guide to learn more about Smart Lighting:

EXTERIOR LIGHTING 

• The easiest method for lighting entryways and parking areas is using motion-sensor lights. Solar-charged lights can be installed almost anywhere, giving endless options for lighting many areas as you enter your home. 
• In some instances, installing new fixtures is not an option, so add smart light bulbs! Depending on your budget, you can purchase bulbs with programming capabilities for changing color, dimness, and off/on times. 

• Smart pathway lights are usually solar-powered, and many offer the same control options as smart light bulbs, and installation is a cinch–push their posts in the ground along walkways, and they are ready to go! 
• For outdoor lighting that requires an outlet, use outdoor smart plugs. Just like interior smart plugs, you have complete control of when the lights come on or off. 

INTERIOR LIGHTING 

• The first step is to install either bright white LED bulbs in lamps and fixtures, or use smart light bulbs and integrate them into your home’s automation platform. 

• For a better start to your day, use a light bulb made to mimic the sunrise. 
• If a room’s lights are automated, they must have power to work properly, and we are used to turning the light switch off when we leave a room. The remedy for that problem is to install smart switches. Different brands have different options, from sensing motion to dimming as well as remote control through an app. 
• Take the time to set up not only morning lighting routines, but dark evenings as well. Walking into a softly lit home after a long day at work not only makes one feel safe, but it is an automatic mood-lifter. 

Start-up costs to automate your home’s lighting can be as much or as little as you care to spend. Remember that when it comes to technology, you usually get what you pay for. Consider each product’s features, and purchase what fits your needs and budget, and research the security of each product to protect your home from hackers. 

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.

Photo credit: lvenergysystems.com

The addition of a pet to a home is one of the biggest and best decisions a family can make.  Is your home ready for the task? Follow these tips for making your home pet-friendly. 

Outside 

• A safe environment is as important for a pet as it is for children.  The first step in keeping them safe is a fence.  Not only does it keep your pets in, it keeps others’ animals out. 
• Have an ID tag on your pet’s collar, with your name and contact information just in case they do get out.  Having them microchipped is an excellent option for identification purposes. 
• When house-training, encourage your pet to use a specific area of the yard for easy clean-up, keeping the smell away from the house.
• A pathway to the door of gravel, cement, or other materials that aren’t plant-based will help knock off any debris that catch on paws before they come in. 
• If your animals have to stay outside when you are away for a short time, make sure they have shelter, food and, most importantly, water. 
• A play area in your yard would be great for dogs, especially, but make sure you have paths they can walk and run on, and nothing hazardous to them if they get too excited in their play. 
• Incorporating a water feature that doubles as a pet-friendly cooling-off spot is perfect for Summer outdoor play for your pets. 
• Consider the plants in your landscaping, and make sure you have nothing that can make your pet ill if they ingest it.  A great list of poisonous-to-animals plant list: https://www.aspca.org/pet-care/animal-poison-control/toxic-and-non-toxic-plants  
• Make sure window screens are secure when you open them, in case Kitty wants to enjoy a nap in the open area–you don’t want her falling out of the window. Investing in a “cat condo” would be ideal for indoor cats to enjoy the outdoors safely. 

Inside Your Home 

• When looking for safety hazards, you should have an animal’s eye view.  Have someone get onto the floor and look for wires, window treatment cords, and anything else that is hidden from a human’s view, but could be attractive and harmful for a pet. 
• It would be ideal to have a pet-washing area in the mudroom, but if that isn’t possible, think about shelving or a storage cabinet near the door for towels, leashes and outdoor toys. 
• A cat’s litter box should be in a quiet area away from food.  It would be optimal to have one more box than cats. 
• Keep garbage in a container with child-proof lid, as dogs and cats both can figure out how to get into the trash and make a mess, and maybe eat something harmful. 
• Area rugs should be machine-washable and inexpensive, in case you need to throw them away after multiple washing, or too much dirt. 
• Crate-training is best for dogs, but most animals need a space of their own.  Provide a comfy pet bed, toys and food and water in a quiet area of the house. 
• Keeping pets brushed, toenails trimmed, and bedding changed and washed regularly is essential in keeping you from doing a lot of extra cleaning and floor repairs.  A hard surface, scratch-resistant floor is perfect for homes with pets. 
• Smaller pets that require their own habitat have specialized needs: safety from larger pets, child-proof habitat covers, a room with certain temperature and humidity setting. 
• Check with your local municipality to see if you need permits for exotic pets. 

Having a pet of any kind is a big responsibility.  As they become part of the family, make sure you provide the best home, the same as you would for a relative.  When your pets are happy, it just adds to the sweetness that pets bring to life. 

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.

Photo credit: Pinterest

State of the Market

• The median home price for June was recorded at $385,000, up from $378,000 in May. Median home prices have increased every month this year.
• Median home price in June 2023 was close to June 2022, when it was recorded at $387,000.
• New listings rose 7.1% from May to June, with 3,703 new homes on the market in June, compared to 3,459 in May.
• Homes spent an average of 41 days on the market (DOM) in June, down from 45 days in May. This is 105.0% higher than June 2022 when homes spent an average of 20 days on the market.
• Overall sales fell 0.8% from May to June. There were 3,124 sales in June, down from 3,150 sales in May.
• June’s interest rate was recorded at 6.7%, up slightly from 6.6% in May.
• Inventory for June was recorded at 5,450, up 5.8% from May when inventory was recorded at 5,149.
• Inventory in June 2023 (5,450) was 0.2% higher compared to June 2022, when it was recorded at 5,437 homes.
• “Now that we’re officially halfway through the year, Orlando’s housing market remains strong,” said Lisa Hill, Orlando Regional REALTOR® Association President. “June’s housing data is a strong indication of what the rest of the year will look like – we can expect to continue to see more inventory and great prices for homes, which is good news for buyers and sellers.”

Market Snapshot

• Interest rates increased from 6.6% in May to 6.7% in June. This is 20.6% higher than June 2022 when interest rates were 5.5%.
• Pending sales fell, with 4,304 in May and 3,964 in June.
• 28 distressed homes (bank-owned properties and short sales) accounted for 0.9% of all home sales in June. That represents a 33.3% increase from May, when 21 distressed homes sold.

Inventory

• Orlando area inventory increased 5.8% from May to June. Inventory in May 2023 was 5,149 and inventory in June was 5,450.
• The supply of homes increased to 1.74 months in June, up 6.7% from 1.63 months in May. A balanced market is six months of supply.

• The number of new listings increased from May to June by 7.1% – from 3,459 homes to 3,703 homes.

ORRA’s full State of the Market Report for June 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

Tiny Houses are really super cute and a lot less expensive than traditional size homes but there are a few things you might want to take into consideration before you decide to purchase a tiny house.  There are pros and cons to owing a tiny house and those are listed for you below for your review.

1. Tiny houses  are typically no more than 100 to 500 square feet.  This may work perfect for you and your family if your family is rather small.  If however you have a large family a tiny house may not be the way to go.
2. You can have a tiny house built for $15,000 however if you want that tiny house to have all the bells and whistles you may end up spending in excess of $80 to $100,000. Basically it will be up to you if you want to purchase a tiny house and “bling it out” so to speak or if you would rather take your money and purchase a large home that already has everything you desire.
3. You may need to check with the zoning board in your area to see if a tiny house is allowed before you make a decision. If so, why not give a tiny house a go…if not, you can always put the tiny house on wheels and travel from state to state.
4. If personal space is important to you then you may not want to even consider purchasing a tiny house. If you do decide to purchase a tiny house your lifestyle will change for sure.  If you don’t mind being in close proximity to your family then a tiny house may be just the ticket!
5. A pro to living in a tiny home is that you won’t have very much space to clean.   If you don’t like spending a ton of time cleaning your house, a tiny home may be the place of your dreams!

These are just a few of the pros and cons associated with tiny house living.  In the end, it is your decision whether or not you want to purchase a tiny house and join the many others you have already done so.

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.

When faced with the high cost of their child’s college tuition or home renovation, many homeowners use the equity in their property to finance it. How does that happen? There are two ways: a home equity line of credit and a home equity loan. Take a look at the differences between the two before signing on the dotted line:  

Home Equity Line of Credit (HELOC) 

• HELOCs are a second mortgage on the home, but instead of a lump sum, the homeowner typically has a five-to-ten-year “draw” period where they have access to the amount of the credit. 
• During the draw period, some lenders allow interest-only payments on the amount, while some require principle-plus-interest payments. Either way, pay more than the minimum so the principal can be paid off before the repayment period. 

• Once the draw period is over, repayment of what credit has been used will begin.  Keep in mind that these payments will be higher than the earlier amounts you’ve been paying. 
• This line of credit can be used for anything but using it for large purchases or luxury vacations may not be a good idea; start a savings fund for those! Once the draw period is over and the homeowner cannot afford the payments, they could lose your home to foreclosure.  
• In some cases, a lender will close the line of credit early if the borrower’s circumstances change.  If that money is used to pay their child’s college tuition, they will no longer have access to it, creating financial strain. 

Home Equity Loan 

• Basically speaking, a home equity loan is a second mortgage on your home, which will be used as collateral by the lender.  
• The lender usually bases the loan amount on the difference between the homeowner’s equity and the home’s current market value. Nerdwallet can help determine how much equity there is in a home. 
• Most lenders allow homeowners to borrow up to 80% of the home’s total value; it depends on what portion is actually “owned.” In other words, a home that has a mortgage with an outstanding balance will have less equity than a house that has no mortgage. 
• Unlike HELOC, a home equity loan will be paid out in a lump sum and comes with a fixed interest rate.  

While shopping for the best interest rates for these kinds of loans, be mindful of scams!  Stay clear of offers that come in the mail, ads that guarantee qualification, or “lenders” that request fees up front.  Know what to look for when applying for any type of loan, especially those that use the home as collateral. 

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.

Photo credit: CNN