When the time comes to relocate, the thought of selling your home while purchasing another seems too much, so renting your current place sounds like a win-win for you. The extra income sounds great, knowing your house is still there in case you need it is another nice thought.  There are pros and cons to this decision, however, so look through these tips to help you finalize your decision: 

• One major factor to consider is when you know the move is not permanent.  If you know you will be returning in a few years, and it may be a good idea to lease while you are away so you will not have to house hunt upon your return. 
• Take a close look at the financial aspects of renting your house: 

• Landlord’s insurance premiums may cost more than a homeowner’s policy. Talk to your insurance agent about the differences in cost. 

• If you have equity in your house, or the money a sale will generate will allow for a nice deposit on another, you really should consider a sale. 
• Do the math–if you have a loss after all your expenses (insurance, repairs, property taxes, etc.) are deducted from the rental payments, it would be a better idea to sell. 

• Take into consideration that in larger areas, there may be times of a vacancy.  Can you handle your current mortgage and rent or mortgage payment in the new place?  If not, put the house on the market. 
• Renting may be a good choice if the house needs repairs or improvements to bring a good sale price, and the cost of those fixes all at once is out of your budget. 
• Consider the occasional tenant that will not care for the property as you do. Landlord insurance will not cover normal wear-and-tear, nor intentional damage. 

• Things can happen, and even good tenants are suddenly unable to pay rent on time–or worse, stop paying rent–and you will be stuck with the mortgage payment, not to mention the possibility of the costs of going through the eviction process.  
• If you live in an area that attracts visitors or tourists, consider short-term leasing with an online booking company. Be sure you are within your city’s regulations for short-term rentals and consider the frequent cleaning costs and other risks taken when renting to tenants that you have little means to check into before they enter your house. 

The stress of renting just might be greater than the house-hunting in the case of a temporary move.  Talk to other property managers in your area and look at your financial information before you make the final choice. When you decide to sell, call a trusted RealtorⓇ.

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.

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Photo credit: The Real Deal

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!

Stats courtesy of StellarMLS

The tough housing market just keeps on getting tougher.

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!

Stats courtesy of StellarMLS

Realtor® Magazine’s definition of disclosures is “federal, state, county, and local requirements of disclosure that the seller provides, and the buyer acknowledges.”  In most states, this means that a seller must let a buyer know about known problems with the property they are selling.  Disclosing issues with a house is important for both buyer and seller. Understand more about property disclosures in this guide: 

Disclosures and the Seller 

• Every prospective property seller will receive a disclosures form from their listing agent.  This form should be filled out truthfully and to the best of the seller’s knowledge. 
• Most states want these items disclosed to the buyer:  lead paint or asbestos, previous repairs or additions, mold or water damage, pest issues, drainage problems, foundation cracks, problems with HVAC and other appliances, and roof condition/age. 

• The listing agent will be aware of all government disclosure requirements–federal, state, and local.  Transparency from the seller is a must at this point of the property sale. 
• “Better safe than sorry,” should be the homeowner’s motto when it comes to disclosures.  For instance, if there is a possibility that mold is an issue under the house, an inspector should have a look. 
• Disclose minor things that you have learned to live with.  Items a seller considers small–such as a rattling window on a windy day, or a repair made many years past–can be big things to the buyer. 
• The disclosure should be ready before the seller accepts an offer–for their protection. 

What the Buyer Needs to Know 

• Once a potential buyer receives the disclosure statement, they should read it over carefully and without distraction. Any questions should be marked or written down and questions presented before the disclosure form is signed. 
• The added expense of having a home inspection is vital to this part of the sale.  When the buyer meets the inspector, the disclosure form should be in hand so each item can be checked out thoroughly. 
• Check local government building permit and zoning information to make sure any additions were performed legally by licensed people. 
• If negotiations about any disclosure’s issues break down, it may be best for the buyer to walk away from the sale. 

• In the end, doing due diligence is the best way for a buyer to find problems that will be a major issue after the sale. 

Disclosures should be a seller’s protection plan, and smart sellers will be completely honest, and even disclose more than necessary.  Sellers should make sure that their state laws ask them to disclose things like traffic noise, undesirable neighbors, or even paranormal activity!  Choosing a Realtor® with experience will help sellers through the disclosures process so that buyers will have full confidence in the property they are purchasing, which makes for a quick and smooth sale! 

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

Drainage problems can be a major issue for homeowners. Not only does poor drainage cause standing water in your yard, but it can also lead to leaks and foundation problems with your house depending on where the water collects. As if that wasn’t bad enough, landscaping and lawn upkeep become a lot harder when your yard doesn’t drain well. Is there anything that can be done for these problems?

Fortunately, yes. There are actually a few different ways to treat drainage issues in your yard, and this is a great time to undertake a project to correct them. By taking action now, you can avoid problems that might arise from heavy spring rains. The exact solution to your drainage issues will depend on the cause of your problem, so here are a few different options to consider.

A Quick Note for Homeowners

Brrrr, the weather forecast for this weekend (January 29-31) shows likely freezing temperatures.

Please make sure that your property is protected:

• Pool pumps running.

• Heat ON inside house at 50-55 degrees.

• Outside water spigot on to a very slow drip.

• Any tropical plants covered if possible.

Stay safe and warm!

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!

State of the Market

“We witnessed an unprecedented real estate market in 2021 – with demand, and price, dramatically increasing. On the flipside, we saw buyers struggle in a market puncuated by low inventory month-after-month,” said Tansey

Soderstrom, 2022 Orlando Regional REALTOR® Association President. “We expect demand will remain strong in 2022. If sellers decide to take advantage of this market, we could be in for another fierce year.”

December’s median home price was recorded at $340,000, closing the year with the highest median home price ever recorded.

Overall sales in December increased by 4.26% over November, with 3,820 sales.

Inventory noticeably dropped in December, decreasing by 15.1% from November, for a total of 2,586 homes on the market. This is a historic low for inventory in Orlando.

Interest rates showed a slight increase, as the average interest rate in December 2021 was 3.07%. New listings continued to drop with just 2,797 new listings in December.

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!

Complete stats and data may be found under Market Info at www.orlandorealtors.org. Comments or suggestions? Contact Mike Blinn, Statistician.

Market Pulse™ data represents all listings, taken or sold, by ORRA brokers, regardless of location, and is exclusive to residential property, which includes townhomes, duplexes, single-family homes, and condos. It does not include vacant land, or commercial transactions.

Finding out just what is involved in the home-buying process can take some first-time homebuyers by surprise. It is not just a process of finding the right house, but the financial end can be overwhelming. Keep these tips in mind to help you avoid common errors a home buyer can make: 

• The all-important first step: before going to a lender, make sure your credit is in good standing. 
• Being pre-approved for a mortgage does not impress many sellers, so it is important to be pre-qualified. Talk to different lenders to line up the best deal for you and your budget. 
• Do not overestimate how much you can afford. Avoid properties on your initial search that are truly dream homes. The pre-approval process will offer a reality check because your approved mortgage amount is set. 

• Applying for a loan for a new car, credit cards, or even new furniture to go in your home can hurt your credit score during the mortgage process. 
• Sometimes buyers assume that all costs of buying a house are included in the loan amount, which is not the case. Closing costs, on average, are 2-5% of the purchase price of the home, and there is earnest money and a down payment to be made. 
• Do not let your finances deter you from buying a home! While the process may take more time, there are several programs ready to assist first-time home buyers. Many require less than 20% down. Other programs provide financing for those who live in rural areas, as well as those with credit issues or lower income. Go to realtor.comⓇ for a  list of available programs. 

You might also believe that it will cost out of pocket to have a RealtorⓇ represent you as a buyer’s agent. Not true! Their fee is paid from the purchase of the home on the seller’s end of the transaction. Your agent will guide you along this winding path but will do all they can to lead you to the house at the end! 

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: fool.com

When it comes to redoing the various rooms in your home, the bathroom is often overlooked. Some homeowners won’t even touch the bathroom unless a leak or some other problem makes it necessary. This is a really poor way to look at it, however, especially given how much time we spend in the bathroom, between bathing, getting ready to face the day, and a few other things. Your bathroom is just as deserving of attention as any other room in your home.

Of course, the why doesn’t really matter; whether you’re remodeling your bathroom because you want to change its look or you’re doing it because you’re already making repairs, the time to start is almost here. The question is, how do you get ready to remodel your bathroom? Here are some things that you should keep in mind before the remodel actually starts.