Adjustable Rate Mortgages (ARM) are not very unpopular right now thanks to the media bashing them.

Adjustable Rate Mortgages (ARM) are not very unpopular right now thanks to the media bashing them.  To make things worse, they currently (August 31, 2007) have higher rates than Fixed Rate Mortgages.   This poses a problem for people that want a lower payment but now are demanding the secure rate of a Fixed Rate Mortgage.  

• Lower payments than traditional 30yr Fixed
• Longer Interest Only period than most people remain in the same property
• Pairs great with any Mortgage Pay-off Program

Where does time go? Labor Day Weekend is already upon us and the official end of Summer here in the Greater Orlando Area!

• Help our Troops Call Home with a prepaid calling card
• Let your kids take part – Kids Celebrate the Military
• Send a hand made card through Cards for Soldiers or Cards to Soldiers
• Soldiers overseas sometimes have down time and look for ways to fill that time.  Many military libraries are extreamly limited — Find out how you can help with Books for Soldiers
• Take books, magaizines, playing cards, board games, puzzles to a local Veteran’s Hospital
• Volunteer at the Orlando Veteran’s Hospital or check out some of the other Volunteer Opportunities

The entire Orlando Avenue Top Team wish you a wonderful time with your family this Labor Day.   Interested in buying a home this weekend?  Call us at  (407) 467-5155!

Celebration Florida is a wonderful place to be!

• Townhome 1 has 1449 sf with 2/2 was built in 2001with a list price of $ 239,900 and has been on the market for 142 CDOM
• Townhome 2 has 1264 sf with 2/2 was built in 2001with a list price of $ 284,900 and has been on the market for 337 CDOM
• Townhome 3 has 1214 sf with 2/2 was built in 2001with a list price of $289,000 and has been on the market for 122 CDOM
• Townhome 4 has 1465 sf with 2/2 was built in 2001with a list price of $315,000 and has been on the market for 171 CDOM
• Townhome 5 has 1440 sf with 2/2.5 was built in 2002with a list price of $319,900 and has been on the market for 224 CDOM
• Townhome 6 has 1428 sf with 3/2 was built in 2001with a list price of $319,900 and has been on the market for 361 CDOM
• Townhome 7 has 1440 sf with 2/2.5 was built in 2002 with a list price of $329,000 and has been on the market for 78 CDOM
• Townhome 8 has 1423 sf with 3/2 was built in 2001 with a list price of $330,000 and has been on the market for 165 CDOM
• Townhome 9 has 1423 sf with 3/2 was built in 2001 with a list price of $339,000 and has been on the market for 92 CDOM
• Townhome 10 has 1897 sf with 3/2.5 was built in 1998 with a list price of $369,000 and has been on the market for 289 CDOM

• Condo 1 was built in 2001, has been on the market for 396 CDOM has 528sq ft, and is listed for $169,900
• Condo 2 was built in 2001, has been on the market for 43 CDOM has 552sq ft, and is listed for $172,900
• Condo 3 was built in 2001, has been on the market for 162 CDOM has 528sq ft, and is listed for $174,900
• Condo 4 was built in 2001, has been on the market for 173 CDOM has 952sq ft, and is listed for $179,000
• Condo 5 was built in 2001, has been on the market for 118 CDOM has 792sq ft, and is listed for $184,500
• Condo 6 was built in 1998, has been on the market for 442 CDOM has 830sq ft, and is listed for $184,900
• Condo 7 was built in 2001, has been on the market for 43 CDOM has 792sq ft, and is listed for $189,000
• Condo 8 was built in 2001, has been on the market for 80 CDOM has 528sq ft, and is listed for $189,900
• Condo 9 was built in 2001, has been on the market for 101 CDOM has 792sq ft, and is listed for $195,000
• Condo 10 was built in 2001, has been on the market for 402 CDOM has 860sq ft, and is listed for $198,000

• Home 1 – 3/2 1388sf, Built in 1999Listed for $ 320,000 has been on the market for 384 CDOM
• Home 2 – 3/2.5 1648sf, Built in 1998Listed for $ 336,000 has been on the market for 12 CDOM
• Home 3 – 3/2.5 1636sf, Built in 1998Listed for $ 355,000 has been on the market for 42 CDOM
• Home 4 – 3/2 1416sf, Built in 2003Listed for $ 375,000 has been on the market for 393 CDOM
• Home 5 – 3/2 1289sf, Built in 2003Listed for $ 379,000 has been on the market for 111 CDOM
• Home 6 – 3/2.5 2056sf, Built in 1997Listed for $ 379,900 has been on the market for 128 CDOM
• Home 7 – 4/2.5 1924sf, Built in 1998Listed for $ 382,000 has been on the market for 104 CDOM
• Home 8 – 3/2.5 1720sf, Built in 1999Listed for $ 389,900 has been on the market for 163 CDOM
• Home 9 – 3/2 1416sf, Built in 2000Listed for $ 399,000 has been on the market for 96 CDOM
• Home 10 – 3/2 1416sf, Built in 2000Listed for $ 405,000 has been on the market for 131 CDOM

You Can Still Buy In Celebration For Under $300,000!

Let’s look at a specific segment of the Celebration Florida market.  Specifically Celebration Florida Condos under $300,000 and having 2 bedrooms.

• Ten Condos Sold ranging in price from $215,000 to $300,000, of these 10 units they were on the market for an average of 85 days.  The longest 294 days and the shortest was listed and sold in one day.
• Currently there are 4 Pending 2 bedroom Condos under $300,000.  They range in list price $224,000 to $299,000.
• There are 47 Active 2 bedroom condos under $300,000.  Here is the list of available Celebration Florida Condos:

Come to Celebration Florida!

y and is a planned community with residents first moving into Celebration Florida in September 1996.  The Celebration Florida community was designed to look at feel like a southern town pre-1940’s.   There is a mixture of styles which has appeal to most.   There is a strong sense of community with a pedestrian friendly emphasis.   Celebration Florida is organized into villages. 

The Celebration Florida Villages are:

Excellent Investment Opportunity in Kissimmee Florida

The other night we got a Google alert that caught our attention. It was a mention from fellow judge for the latest challenge on a social network that we all belong to by Toby Bloomberg.

The other night we got a Google alert that caught our attention.  It was a mention from fellow judge for the latest challenge on a social network that we all belong to by Toby Bloomberg.  

Before she posted her list, Colleen had a really nice conversation about trends that are happening in the Internet.  She had mentioned to Colleen about a powerful list of Women Bloggers and how many Bloggers were either adding to the master list or starting their own. 

In her post The W Magical List of Women Bloggers she mentions "The W List – or the magical list as some have called it – is a way for women to celebrate women .. a way for women to support women .. a way for women to be ourselves."  I was absolutely thrilled when I saw that she included our team BLOG Orlando Avenue on her list.

So who are some of your favorite writers?  How about the members of ActiveRain join in the trend and identify our favorite Woman Bloggers out there!  In addition to Toby Bloomberg’s Diva Marketing Blog, here is a list of some of the Orlando Avenue Top Team’s favorite female Blogs that we read:

We hope you enjoy some of our favorite writers…  Thank you Toby Bloomberg for mentioning Colleen Kulikowski and the Orlando Avenue Top Team.

Orlando Florida | Clean Up, Clear Out, Fix and Repair

• Does your Orlando home need washing or maybe a coat of paint?
• Make sure that lawn, trees and other landscaping is neatly trimmed and mowed.
• If the season allows, add flowers here and there for extra color.
• Make sure your yard is free of leaves and refuse.

• Does the interior of your Orlando home need painting?
• Are the windows and window screens clean?
• Does the carpet need cleaning or replacing?
• Do all of the your Orlando home’s mechanical appliances work correctly?
• And don’t forget about those hidden problems that an Orlando buyer’s inspector may find such as leaky plumbing, ungrounded outlets, slow drains or code violations.
• Have your closets clean and organized so they look as large and spacious as possible.
• Remove personal items and knick-knacks throughout the house. They may be items close to your heart, but to a potential Orlando buyer they’re just clutter.

*cracked sidewalks

*worn carpet

*faded or worn paint

*deck boards and railings

*broken switches and light bulbs

*cracked walls and ceilings

*damaged windows and doors

*broken home appliances

Cleaning and Maintenance:

*faucets and sinks

*basement

*sweep or shovel walks and driveways

*mow lawn and trim shrubs

*oil squeaky door hinges

*new furnace filter

*storage areas

What is a 1031 tax exchange? And how can it help you?

And how can it help you?

A 1031 Tax Exchange is a way to defer taxes when purchasing a property.  Some reasons to change or swap an old property for a newer property vary.  As Real Estate Professionals we know the basics about tax-deferred exchanges, but you should consult with your financial professional to explain and map out your plan for using a 1031 Tax Exchange before you engage in a Real Estate Transaction.  There are many rules and regulations on a 1031 Tax Exchange and if they are not followed exactly you could be liable for taxes.  Basically you should never have to pay income taxes on the sale of property if you reinvest the proceeds in like-kind property.

• Construction
• Fix/Flips for Resale
• Inventory property
• Notes
• Partnership interests
• Personal Residence
• Corporation common stock
• Bonds

• Simultaneous Exchange – no interval between the two closings.
• Delayed Exchange – there are rules and strict time line for this type of exchange.
• Reverse Exchange or Title-Holding Exchange – when the exchanged property is purchased prior to the first property’s closing
• Improved Exchange – You acquire a property, schedule construction of improvements and then recieve the property as an exchange.

Many times when real estate investors come to us for advice and information we talk about he 1031 Tax Exchange. Under the U.S. Internal Revenue Code, this is an opportunity for some investors to defer capital gains taxes. For some investors it is an important investment strategy.

The name ‘1031 Tax Exchange’ refers to Section 1031 of the Internal Revenue code which allows exchanges of certain types of qualified property by owners of real property for other, like-kind property. The simplest of this kind of transaction is called a Simultaneous Exchange. It refers to the closing on the sale of a taxpayer’s property and the closing on the purchase of a like-kind property at the same time.

Another kind of 1031 Tax Exchange is called a Delayed Exchange. As the name suggests, the Delayed Exchange occurs when the taxpayer’s replacement property (or properties) closes on a later date than the date of close of the relinquished property (or properties).

As long as the real estate property is held for use in a trade or business or for investment or income, it can be considered ‘like kind’ property and used in a 1031 Tax Exchange. The name of the taxpayer taking title to the replacement property must be the same as the name of the taxpayer who held the relinquished property.

Under this instrument, what is known as a Qualified Intermediary must be used by law. This is an independent third party who must meet (and not meet) certain qualifications.

The conditions and details of the 1031 Tax Exchange are strict. As a Real Estate professional I am able to tell you of this instrument and how it may benefit you. If you call me I will be glad to provide you with the names of companies who may further assist you and who may act as the Qualified Intermediary.

What can be done to make you more comfortable and ensure that you will get your loan closed?

You are in the process of buying a home or refinancing your current mortgage and all the news about Countrywide and other Lenders in trouble is making you wonder if the lender who is processing your loan application or has already approved it will be in business by the end of escrow.  What can be done to make you more comfortable and ensure that you will get your loan closed?

This lender crisis is effecting most lenders and banks but not all of them.  There is really no reason to believe that if your loan is full documentation with high credit and for an amount under $417,000 that you will run into a roadblock.  This type of loan is called Conforming and conforming loans are always easier to close.  If your loan is more challenging due to credit, income or other issues, then you might want to do some research.

This is one definite case of when working with a Mortgage Broker is extremely advantageous.  A good Mortgage Broker will have resources at his/her disposal and relationships with multiple lenders.  Your broker has already researched your loan with all of their lenders anyway so going back to his/her notes for a different option should be fairly stress-free for all parties.