Questions about adding on or buying up in the Orlando Real Estate Market

Considering the current market conditions in the Orlando Florida Real Estate Market this question is getting asked more and more.

Sellers that are considering this need to answer some of the following questions questions.

How much money do you want to spend and have saved to pay for the improvements?

Will I need a loan home improvement loan and if so what will the long term costs be?

How much equity do we have in the property right now?

Do I have the additional space required for the addition?

If we have to build up and add a second story will the foundation support it?

Be sure to ask what are the local zoning and building codes and what permits will I need?

Now comes the alternative question are there any properties for sale that would cost as much or less than that would satisfy my housing needs?

When you get the answers to these questions you will be better prepared to decide if selling your home or remodelling is the best approach.

So what adds the most value, meets your personal needs and how much work is involved in each choice?  If you want to move up in the Orlando Real Estate market give us a call or check out the listings online to see what works for you.

Orlando Florida Real Estate guide to home improvents to get your home sold

Most homeowners ask what can I do that will add value to my home and make it stand out in this Orlando Florida Real Estate Market?  What value does it add?

That said over the years we have found that upgrades to kitchens and bathrooms bring the best return.  Now if your carpets are worn and flooring also needs updating this would come in a close third.

So just what is involved in improving your property.  Once you know what you would like to do consider each of the following to be sure it is done professionally.

Zoning and building permits, fixer upper loans, hiring a contractor, insurance and just where to begin to get the job done right.

Before you get started you may enjoy watching remodel tv which gives some great remodeling examples and ideas in regularily updated videos.

Just look at granite countertops which can be anywhere from 35-50+ per linear ft. a great kitchen upgrade and very popular.  Comes in all styles and colors but once you know what you want be sure to hire a contractor that gets the correct permits.

This is crucial because when selling a home an informed buyer will know to ask for proof of permits to avoid future penalty fines.  This applies to plumbing, electrical and fire so be sure to get it done right upfront.

A reliable contractor will know what local law requires as concerns building codes. 

You can control the condition even if the market values seem out of control.  The condition may be just the reason your property sells versus the competition.

So check out Remodeling Magazine or Pillar to Post two excellent resources that will show you where to get the most bang for the buck.  One of their examples was the remodel of a bathroom gave a 81% return to the owner.

If you would like a personal review before you list your home call us today we will be happy to point you in the right direction.

Orlando Florida Real Estate Foreclosures

Orlando Florida Real Estate and Florida Real Estate across the state as you have heard on the news is experiencing a high volume of foreclosures.  One of these types of foreclosures are hud owned homes. 

A hud home is one that is owned by the US dept. of Housing and Urban Development.  The key is to find one that is eligible for FHA insurance.  If you find this type of property there may be the possibility to make an offer with as little as $100 down.  If not the downpayments may be anywhere from 5-20% of the bid price not to exceed $2000 and not less than $500.

So where do we find these homes.

Properties are listed about evey 2 weeks at foreclosurefreesearch.com this site shows about 100 new options every two weeks.  Currently as of today just in Orlando there were 1057 properties listed at the site.

There is also a new feature at this site for preforeclosures.  You must use a real estate agent to bid on these properties and there are also special forms that need to be used.  Time frames for bidding are also stated.

Most important to remember a foreclosure  is sold as is no warranties or structural or mechanical warranties.  So Buyer beware get your own inspections for sure. 

By the way if you are an investor you will be required to put 10% down.  It is important to note that you really need to have cash to purchase these properties and getting financing is next to impossible.

Also there is a difference between judicial and non judicial foreclosures.  In a judicial the lein holder request the sale for the unpaid balance of the loan, in non judicial the sale is in the mortgage or deed of trust, in which case be sure to know if title insurance can be given.

You can read a book on this process and guides as this process is not as easy as it seems.

I recommend The Smart Money Guide to Bargain Homes How to Find and Buy Foreclosures by James Wiedemer or Real Estate Investing from A-Z by William Pivar both available on Amazon.com

There are also VA forecloseures availabe from the Dept. of Veteran Affairs these are homes the VA has guarantees to  Veterans that are in default.  Owner occupiers of this kind of propety may qualify for downpayments as low as 2%.

If you are interested in checking out specific neighborhoods in and around Orlando Florida call us we check each subdivision to see what is available.  It is important to note that a foreclosure may not always be a great deal as condition and location still are factors in any real estate transaction.

Isleworth Market Report Orlando Florida Real Estate March 2008

Isleworth Homes Market Report

Isleworth Three Bedroom Single Family Homes

There are currently 10 single family homes active on the market

• 2 three baths three half baths
• 4 three bath and three.one half bath
• 3 three and three and a half baths
• 1 three bath and four half baths

Square Footage ranges from 2856 to 4277

Prices range from $1,600,000 to $3,300,000

Days on Market range from 137 to 663

Average days on Market is 359
 

9 are in escrow at this time

• 2 accepting backup offers
• 1 pending

Average days on the market 10

Average Pending Price:  $561,685

Isleworth  Four Bedroom Single Family Homes

There are currently 13 single family homes active on the market 

Square Footage ranges from 3776 to 7467

Prices range from $1,500,000 to $6,000,000

Days on Market range from 12 to 576

Average days on Market is 182

Isleworth Five Bedroom Single Family Homes

There are currently 17 single family homes active on the market

• 1 Three bath and one half bath
• 2  Four bath and two half baths
• 1 Five bath
• 5 Five bath and one half bath
• 2 Five bath and two half baths
• 1 Five bath and 4 half baths
• 2 Six bath and one half bath
• 1 Six bath and three half baths
• 1 Seven bath and two half baths
• 1 Eight bath and one half bath

Square Footage ranges from 4417 to 10,699

Prices range from $1,7969,000 to $7,475,000

Days on Market range from 50 to 879

Average days on Market is 306

Isleworth Six Bedroom Single Family Homes

There are currently 2 single family homes active on the market

• 1 Five bath and one half bath
• 1 Seven bath and one half bath

Square Footage ranges from 4606 to 7201

Prices range from $2,500,000 to $4,325,000

Days on Market range from 194 to 606

Average days on Market is 400

Isleworth Seven Bedroom Single Family Homes

There are currently 1 single family homes active on the market

• 1 Eight bedroom and 2 half baths

Square Footage ranges from 8708

Prices range from $5,900,000

Days on Market range from 94

Average days on Market is 94 

• 2 are pending  

Average days on the market 367 

Average Pending Price:  $5,000,000

Thinking of selling your home like a market snapshot specific to your property go to this location and select seller.

Isleworth homes for sale from 1 to 3 Million

Isleworth homes for sale from 3 to 5 Million

If you would like a free copy of Getting the Best Deal When Selling Your Home select the contact us tab above this blog post.

Teri Isner

Orlando Real Estate Agent

Keller Wiliams at the Lakes / Celebration

504 Celebration Ave.

Celebration Florida 34747

407-467-5155

Orlando Florida Real Estate 

IRS Tax Deductions from your Mortgage

As tax time is upon us and with all the talk about recession, politics and the housing market, most people are not focused on the fact that we are only ten days from tax day.

So if you are a procrastinator as is the American-way, remember to plan for some of your Mortgage and Real Estate related tax deductions to save some money this year.

Here are a few places to save:

1) Discount Points – Lender Discount Points are seen by the IRS as pre-paid interest charges. 

2) Pre-paid Interest – your closing statement shows prepaid interest depending on how many days you will be in the property in the month you close.  

3) Pro-rated Property Tax any property tax you pay at the closing table is deductible

4) Origination Points – Broker fees or Points are also considered pre-paid interest.

5) PMI/MIP – Mortgage Insurance on a loan that is over 80% Loan to Value (LTV) is deductible

Where to consult your Accountant for sure:

6) HELOC / Equity Line – interest on your 2nd Mortgage or Home Equity Line of Credit may be deductible. 

7) Second Home – this is a grey area.  Your accountant knows the rules on deducting mortgage interest on 2nd home mortgages.

8) Depreciation – Investment properties only!!  !

My Professional Advice:

You have your closing package from when you closed your property neatly filed away, right? (nudge nudge)

Get it out and take it with you when you visit your tax preparation specialist or CPA.  Make sure to have your Accountant review your closing statement and IRS Form 1098 that you will receive from your lender in the mail.

Your accountant will then make sure you get credit for all your deductions.

To get the full article, follow this link -o-> Florida Mortgage | IRS Tax Savings on your HUD-1

More Florida Real Estate Industry News You Can Use from
David A. Podgursky, MBA
TheMortgageGoToGuy!!
Your Source for Residential and Commercial
Mortgage Loans in Florida

Homes for sale in Windermere Club Florida

Windermere Club Three Bedroom Single Family Homes

 There are currently 1 single family homes active on the market

• 3  baths and three half baths

 Square Footage ranges from 1456 to 3688

Prices range from $299,000 to $2,200,000

Days on Market range from 41 to 285

Average days on Market is 140

Windermere Club Four Bedroom Single Family Homes

There are currently 5 single family homes active on the market

• 4 three bath homes
• 1 three bath and one half bath

Square Footage ranges from 2835 to 3936

Prices range from $699,000 to $834,500

Days on Market range from 5 to 49

Average days on Market is 30

 Windermere Club Five Bedroom Single Family Homes

There are currently 3 single family homes active on the market

• 1 Three Bath
• 1 Three bath and one half bath
• 1 Four bath and one half bath

Square Footage ranges from 3321 to 4573

Prices range from $749,000 to $915,000

Days on Market range from 53 to 451

Average days on Market is 243

Thinking of selling your home like a market snapshot specific to your property go to this location and select seller.

If you would like a free copy of Getting the Best Deal When Selling Your Home select the contact us tab above this blog post.  You can check all active listings in mls too!

Teri Isner

Orlando Real Estate Agent

Keller Wiliams at the Lakes / Celebration

504 Celebration Ave.

Celebration Florida 34747

407-467-5155

Orlando Florida Real Estate 

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Windermere Homes Market Report Orlando Florida Real Estate March 2008

Windermere Homes Market Report

Windermere Homes Market Report Orlando Florida Real Estate March 2008

Windermere Homes Market Report 

March  2008

Town of Windermere Three Bedroom Single Family Homes

There are currently 13 single family homes active on the market

• 6 two bath  one bath
• 4 two and a half baths
• 2 three baths
• 1 three and a half bath 

Square Footage ranges from 1456 to 3688

Prices range from $299,000 to $2,200,000

Days on Market range from 41 to 285

Average days on Market is 140
 

1 is pending  

Average days on the market 43 

Average Pending Price:  $435,000

Town Windermere Four Bedroom Single Family Homes

There are currently 7 single family homes active on the market

• 2 two bath
• 1 two and a half baths
• 1 three bath and one half bath
• 1 three and two half baths
• 1 four bath
• 1 four bath and two half baths

Square Footage ranges from 2002 to 4540

Prices range from $419,000 to $2,499,995

Days on Market range from 15 to 317

Average days on Market is 110

Town of Windermere Five Bedroom Single Family Homes

There are currently 4 single family homes active on the market

• 1 Three bath
• 1 Four bath
• 1 Four bath and one half bath
• 1 Five bath and one half bath

Square Footage ranges from 2002 to 4540

Prices range from $639,000 to $3,200,000

Days on Market range from 15 to 432

Average days on Market is 175

Town of Windermere Six Bedroom Single Family Homes

There are currently 1 single family homes active on the market

• 1 Five bath and one half bath

Square Footage ranges from 5740

Prices range from  $3,200,000

Days on Market range from 15

Average days on Market is 15

 1 is Pending 

Average Pending Price:  $435,000 

Average days on the market 43

Thinking of selling your home like a market snapshot specific to your property go to this location and select seller.

Windermere Homes for sale.

Teri Isner

Orlando Real Estate A
gent

Keller Wiliams at the Lakes / Celebration

504 Celebration Ave.

Celebration Florida 34747

407-467-5155

Orlando Florida Real Estate 

If you would like a free copy of Getting the Best Deal When Selling Your Home select the contact us tab on top.

Orlando Florida Real Estate and pest control update why pest inspections are a must!

Orlando Florida residents and home buyers it is that time of year again to take a closer look at your pest control.  Most importantly your termite bond and udating your termite inspections.

The spring season brings on that spring cleaning urge but don’t forget the pest control especially this time of year.  This goes for Orlando Florida buyers and sellers that need to be informed and up to date about potential pests that could be lurking behind walls or beneath the soil.  Don’t be the seller caught during the pest inspection with termite or ant infestations.

Did you know termites are America’s $5 billion pest problem?  I know it is gross to talk about bugs and the nuisance ants can be as sociable as they are no one wants them at your next dinner party.  You have that glamorous new kitchen or beautiful remodeled garden, but remember Florida is considered a very high risk of termite infestation.  As for ants there are ten different species that can potentially threaten homes so what can we do as a Orlando Real Estate buyer or seller?  

You may have the most beautiful and well kept home, but you are still at risk because termites and ants can strike without warning.  You can learn more about both first check out the Termite Institute and Ant Institute to find out about America’s most common household pest.

If you are a first time home buyer or seasoned home owner these sites will help you identify, prevent and offer suggestons to solve termite and ant problems.  There are live web cameras and podcasts that show what is like when your home is invaded by one of these pests.

If you are not an Orlando Florida Real Estate buyer or seller here is an map which shows the areas of concern. 

I can speak here from personal experience when we were buying our first Florida home guess what showed on the pest inspection?  Yes that’s right termites.  The homeowners had it treated and paid for the bond.  Yes is can be treated and an annual check up helps you stay in control.  Termador is a terrific new treatment which you can read about at the Termite Institute at the solutions sections that identify the best ways to rid your home of these problems. 

You can even sign up for their tip list.  I want to thank Corrinne Cupton for reminding me of this important topic for this time of year.  If you have questions don’t hesitate to call her at 610-941-0395 extension 148 or email her at cupton@fcfschmidtpr.com  she can give very useful advice and information

Lakefront living on the Butler Chain of Lakes

Did you know that Windermere Florida is a sister city of Windermere England?  In England Windermere is known as the Lake District and it would make sense that Windermere Florida is a sister city as it is also set amidst the Butler Chain of Lakes.

Real Estate has historically been more valuable by lakefront settings and Windermere Florida is no exception.  Lots starting at a million dollars and up are not unusal especially for the Butler Chain of Lakes if you can find anymore.

Thanks to the surrounding Butler Chain of Lakes the lakefront lifestyle is a top choice for the Windermere home buyers.

Currently there are 35 lakefront homes for sale in the multiple listing service at the time of writing this for sale on the Lake Butler Chain within Isleworth, Keene’s Pointe, Lake Butler Sound, Park Ave, Windermere Downs and Windermere addresses.   Priced from 1.2 million up to 12 million. 

Then of course there is one more that almost got auctioned this last Saturday that of the infamous Lou Pearlman best know for his management of In-Sync and the Back Street Boys.  It got an offer over 3 million but earlier they had one over 5 million and will have to wait to see what happens.

Watersports, fishing, tennis or golf are  part of Isleworth, Park Ave. and Keene’s Pointe as well as the clubhouse amenities.   There are homes not in gated communities too with all the waterfront fun and close to golf.

If you want to learn more specifically about the Butler Chain of Lakes or why living in Orlando is so much fun there are so many good reasons to enjoy the Windermere Florida Lakefront lifestyle check this out. 

We have had our boat out on all the lakes and it will take about 4 hours to enjoy a trip through all of them from Lake Down to Fish Lake.  Stop for a picnic on board or swim and ski.   The town of Windermere is well known for its towering oaks and town activities as well as the Butler Chain of Lakes.

So if it is a home you are looking for that lakefront lot where the sun is glistening brightly on the water and the fun seems endless call us today.  Appointments are necessary and we will have all of the best options to share with you.  Give us a call today if a home on the Butler Chain of Lakes is in your future.  You can start your search for Windermere Lakefront homes on our website by map, subdivision, zipcode or city/county

Orlando Florida Real Estate in Dr. Phillips Best Priced Listing

Check out the price on this Orlando Florida real estate Dr. Phillips listing for space and convenience.  Now only $315,000 4/2.5 pool home has an incredible price for an incredible location right in Hidden Springs. 

All you need with huge open living area, plenty of bedrooms formal dining plus eat in kitchen there is also screened in porch off the pool with a wonderful fenced backyard.   The vaulted ceiling fireplace is seen from both sides.  The back side is currently the game area and the front a spacious living room.

The Orlando Florida Dr. Phillips real estate area is very sought after with a location close to I-4, shopping and the new Millenia Mall each just minutes away.   Also very close to Universal, Disney and Sea World resorts as well as International Drive and the great restaurants on Sand Lake Road and Dr. Phillips Center. 

Over 2200 sq.ft with a two car garage there is space for all the family.

Set on a quiet cul de sac this home is in the Olympia High School district, Chain of Lakes Middle and Palm Lake Elementary. 

Aside from excellent schools each of the bedrooms are spacious, plenty of counter top space and cabinets in the kitchen, over sized laundry room, and extra storage above the garage.

Tucked away on a quiet cul de sac you can enjoy the large backyard with plenty of room for a garden, the pool, trampoline and shade trees.  Inside the vaulted beam ceilings and wood accents give a real open feeling to the home.  So if space and convenience are what you need call me today to come look inside this beautiful home.

Check out the other extra features of this Orlando Florida Dr. Phillips home or print the flyer.  Add your own personal touch and experience the value of one of the best buys in Dr. Phillips homes for sale today.  Call us to look inside.  Ask for Tricia at 407-697-0820.

Want to find out what else there is to do in this area?  Check out all the Orlando Florida lifestyle choices and options close by.

If you or someone you know is thinking of buying or selling in the next 6 months call us today for one of our exclusive buyer or seller packages.  If you mention this blog you can also ask for a free copy of the the book Getting the Best Deal When Selling your Home or How to Get the Best Deal When Selling your home.