SOLD! 345 La Mirage Street, Davenport, FL - $111,900

Sold for $108,000 on 5/26/17

Need to sell your Orlando home before you can buy? Avoid this mistake, potential disappointment and loss of money!

Do you need to sell your home in Orlando before you can buy? If so, you naturally need to know what a new home will cost and whether you'll qualify for the payments. You don't want to let go of your present home only find that you can't purchase a new one! That said, you should do a little looking on line and speak with a mortgage lender before going any further.  Looking on line will give you a good idea of pricing on homes of the size you need in the neighborhoods you want. You'll likely see a wide range, because some of those homes will be in top condition and some won't. Assume that the home you'll choose will be at the high end of the range.

Speaking with a lender will tell you whether you'll qualify for a purchase at that price.  BUT – Don't make the mistake of shopping for that new home just yet! Wait until you've listed your present Orlando home and have accepted an offer from a qualified buyer.  Shopping for a new home before you have the ability to make a purchase can cost you money and lead to disappointment.  Very few sellers will accept an offer contingent on the sale of a house that is not yet under contract. It just doesn't make sense for them to take their house off the market on the chance that your house will sell and you'll be able to close. Of course, a few will do it if you're willing to put down a sizeable non-refundable earnest money deposit.  Even if you do already have an offer on your current home, sellers are wise to be cautious and will perhaps counter with a "bump clause" allowing them to accept a different offer if you can't close within the specified time frame.  If by chance the seller does accept your offer, you'll have put yourself in another difficult situation – that of needing to sell your present house quickly. That, in turn, means you'll be more likely to accept a low offer just to get it done.  The need to hurry could cost you thousands of dollars.

So what else will happen if you shop too soon?  The worst case: You'll find "the perfect house" and you won't be able to buy it. And after that, no other house will measure up. Even if you find a different home that in reality is a better fit for you and yours, you'll always think the other one would have been better.  

My advice: Exercise patience. First, list your home at its current market value. Then do all you can to make it attractive, appealing, and accessible to qualified buyers and their agents. Then negotiate reasonably and get that home under contract.  Once your house is under contract with a solid buyer, start shopping for your new Orlando home

Under Contract! Golf course pool home for sale $232,500!

Cheaper to buy a home than rent!

When the real estate bubble burst, millions of Americans, many right here in Central Florida, found themselves out of their homes, but still needing a roof over their heads.  They became renters.  And then, in perfect accord with the laws of supply and demand, rents began to rise.  Now as many as 3 million former homeowners are expected to rebound and become homeowners again within the next five years.  In the meantime, investment property owners in many areas can almost name their rental rates - so they do.

Right now, studies are showing that it's 35% cheaper to buy than to rent, and that's not apt to change soon. If you're renting, you should expect to pay more next year than this year – and even more the next year and the next. Meanwhile, if you purchase a home with a fixed rate of interest, the only parts of your monthly payment that could go up are the taxes and insurance. As your income rises, your base housing expense will not.

In the panic immediately following the housing crash, banks tightened their policies and most loans required 20% down. But that's changed. If you haven't checked into home ownership lately, you may not be aware that there are once again loan programs offering down payments as low as 3% - and zero percent for veterans. You do still need to have a steady income, a good credit rating, and a minimum of debt – but that protects you as much as it protects the bank.  If you want to own a home, visit a local mortgage broker and find out where you stand. 

Do you need a few more reasons to consider owning your own Central Florida home soon? Here are a few:

• Right now, you are buying a house – but it's for your landlord.
• You're not building any equity.
• You're not getting any Federal income tax deductions for your housing expense.
• You're not putting down any roots.
• Your landlord could decide not to renew your lease at any time.
• Your landlord could fail to make his or her payments – and "your" house or apartment could be foreclosed upon.
• You need permission to paint a room or hang a picture. In fact, you can't do much of anything to personalize your space.
• You need permission to own a dog or a cat – or to plant a garden.
• Every year you wait rents will go up and home prices will go up. And one of these days – interest rates will go up.

Are you ready? So call. I'll be happy to put you in touch with a couple of lenders I trust so you can get pre-approved. Then I'd love to take you shopping.

If you need to sell your Central Florida home before you can buy... Avoid this mistake

Do you need to sell your home in Central Florida before you can buy? If so, you naturally need to know what a new home will cost and whether you'll qualify for the payments. You don't want to let go of your present home only find that you can't purchase a new one!

That said, you should do a little looking on line and speak with a mortgage lender before going any further.  Looking on line will give you a good idea of pricing on homes of the size you need in the neighborhoods you want. You'll likely see a wide range, because some of those homes will be in top condition and some won't. Assume that the home you'll choose will be at the high end of the range.

Speaking with a lender will tell you whether you'll qualify for a purchase at that price.  BUT – Don't make the mistake of shopping for that new home just yet!

Wait until you've listed your present Central Florida home and have accepted an offer from a qualified buyer.  Shopping for a new home before you have the ability to make a purchase can cost you money and lead to disappointment.  Very few sellers will accept an offer contingent on the sale of a house that is not yet under contract. It just doesn't make sense for them to take their house off the market on the chance that your house will sell and you'll be able to close. Of course, a few will do it if you're willing to put down a sizeable non-refundable earnest money deposit.  Even if you do already have an offer on your current home, sellers are wise to be cautious and will perhaps counter with a "bump clause" allowing them to accept a different offer if you can't close within the specified time frame.

If by chance the seller does accept your offer, you'll have put yourself in another difficult situation – that of needing to sell your present house quickly. That, in turn, means you'll be more likely to accept a low offer just to get it done.  The need to hurry could cost you thousands of dollars.

So what else will happen if you shop too soon? The worst case: You'll find "the perfect house" and you won't be able to buy it. And after that, no other house will measure up. Even if you find a different home that in reality is a better fit for you and yours, you'll always think the other one would have been better.

My advice: Exercise patience. First, list your home at its current market value. Then do all you can to make it attractive, appealing, and accessible to qualified buyers and their agents. Then negotiate reasonably and get that home under contract. Once your house is under contract with a solid buyer, start shopping for your new Central Florida home.

SOLD! 311 N Henley Cr., Davenport ChampionsGate 4/3 Pool Home $225,000

Should You Sell Your Home Or Remodel?

You may be thinking of selling your Central Florida home because the floor plan no longer suits you or because the house itself is "tired." The kitchen and baths are outdated, you need new paint, and your flooring is screaming "1980!"  Perhaps it needs something major, like new roofing or a new heating or cooling system. Here are some thoughts to ponder before making your decision.  

• Do you love your neighborhood and your neighbors?
• Could you find a newer home in that neighborhood?
• Is the location "just right" for you in terms of travel to work, school, recreation, shopping, etc.?
• If lack of space is the problem, do you have room on your lot to build an addition?
• Would it be possible to remove a wall, or open up an attic or basement to provide more space?
• Are you willing to put up with the inconvenience of living in a house that is essentially "under construction?"

If you really like living where you live and there are no homes available that would suit you better, the next step is to call a contractor and find out what it would really cost to make the improvements you're dreaming about. Be sure to ask about the time and expense to get permits as well as the cost of the actual work. You may find that getting a construction loan and then re-financing would be more economical than buying a different home.

 

I have a list of reliable contractors who would be glad to meet with you and give you estimates so you can make your decision based on facts, not supposition. I can also refer you to lenders who know how to put this kind of transaction together.

 

On the other hand, you may find that a total renovation would not be cost effective. In that case, the best choice is to sell and purchase a new home. I'll be glad to meet with you and prepare a market analysis to show you the price your house would bring in today's market.

 

Home prices have been rising here in Central Florida, so even though the house may need work, you might be surprised. I'm happy to prepare a free market analysis for your home and assist in finding the perfect home to buy once you're is sold or close to closing!