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 The kitchen and baths are outdated, you need new paint, and your flooring is screaming "1980!"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! 

SOLD! 311 N Henley Drive, Davenport $225,000! Fully furnished pool home near ChampionsGate!

Want to sell? Pre-qualify your Orlando home.

You know you want your buyer pre-approved before taking your Orlando home off the market to await closing.
 
But what if your house that won't qualify?
Yes, that can happen – without your knowledge. And while most of the issues that prevent closing can be cured, they can cause enough delay to send your buyer looking for a different home.

 What kinds of issues disqualify a home from being sold?

1.    IRS tax liens are a big one. These can generally be negotiated, but until they get permission from the IRS, the title company won't clear for closing.

2.    "Extra" people on the title can also cause a problem.

·         If someone co-signed your purchase they might appear.
·         If you've been through divorce and believed the house to now be entirely in your name, you could be mistaken.
·         If your co-borrower is deceased and you haven't been through probate, you will need to see a lawyer to complete the appropriate paperwork.
3.    Old mortgage loans can cause the most time-consuming problem of all. These occur when a homeowner refinances and the original loan is not cleared from the title. How could that have happened? Someone simply forgot to record the release. I heard of one that took 6 months' of the listing agent's diligent follow-up (otherwise known as nagging.) The original lender had sold to a larger bank a few years earlier and the records were in an archive somewhere in California. No one from the old bank remained and no one from the new bank was particularly interested in assisting. It was one of those cases where the people in a position to solve the problem thought "What's in it for me?" and the answer was "Nothing."

To avoid these last minute surprises, order your title report as soon as you know you want to sell your home. It costs a few dollars, but if you use the same title company when you sell, they may be willing to apply those dollars as a credit at closing.

If you're getting ready to sell your home in Orlando and don't know who to call, call me first. I can put you in touch with a Title Officer who will provide what you need. 

Before you move into your Central Florida home... a checklist

 A few days prior to closing it's time to put some things in motion:

• Visit the post office for a change of address packet. Be sure to tell your mail delivery person that you're moving and ask that any mail that slips through be forwarded to you. While you're at it, thank him or her for past service, because a little appreciation from you will help assure success.
• If you have a choice of utility providers, do your research. You might save money with a package of TV, phone, and Internet service. See what various providers have to offer, then get set up to have service when you move in.
• Let your current providers know that you're planning to move and the expected date – then notify them again at the last minute.
• If you have service providers at your current home (lawn care, pool cleaning, etc.) give them plenty of notice that you're planning a move.
• Hold a yard sale and/or make a donation to a non-profit with a thrift store. Instead of moving all those items you never use, simplify your move by lightening the load before moving day.

When the big day arrives…

The day you receive the key to your new home is an exciting one, but before you start moving in, you have a few more tasks to attend to:

• First priority! Change the locks. You have no idea how many people have copies of keys to those current locks, so think safety and security first and change them. If you're handy, visit a hardware store. If not, call a locksmith.
• Do some deep cleaning. Yes – the previous owners probably cleaned before they vacated, but you'll feel better if you either do it yourself or hire a service to come in and give everything another once-over. Get a steam cleaner in to sanitize the carpets, even if they look fine.
• If you've seen any sign of "varmints" in the house – get the exterminator in before you unload any of your possessions.  
• If you plan to replace the carpets or paint any rooms – do it before you move in, simply because it's easier.

As soon as you know when you'll actually move into that new Central Florida home…

Go online and change your contact information with creditors, financial institutions, schools, and publications.

And don't forget your friends. Just because we communicate electronically much of the time doesn't mean your friends shouldn't have your new address. (After all – they might want to come and visit, or send you a housewarming gift!)  

If you haven't found that new home yet... call me! I'll help you find the perfect match for your lifestyle! 

Turned down for a mortgage loan? Don't give up!

When you want to own a home here in Central Florida and know you are ready for that step, don't let a rejection from one lender dash your hopes.

Different lenders have different guidelines and interpretations of guidelines. Some are willing to make exceptions that others are not. So the fact is, while one lender may reject your application, another might welcome it.  If you've gone to your local bank and been given a "no" proceed to a mortgage broker. Mortgage brokers are paid on production and are more willing to explore options with you. In addition, they have multiple sources and will research those sources looking for a loan that fits your situation. Credit Unions can also be a good source of loan programs that other banks don't have.

So don't give up. If you know you have the down payment funds you need, a steady income, and a history of paying your bills, keep trying.  You may not yet qualify to purchase the home of your dreams, but you can probably qualify to buy a good home that will allow you to begin building equity – so that in a few years you WILL be able to "trade up" and buy your dream home. 

If you need a referral to a good Central Florida lender or mortgage broker, give me a call. I can give you names and numbers of lenders who have served my clients well. 

Buying new appliances for your Central Florida home? Word of caution!

Whether you're buying new appliances for the Orlando home you just purchased or buying to update your home before putting it on the market, heed this advice: Measure your space before you leave for the store. Then take both the measurements and the tape measure with you to the store. Measure the width between the cabinet sides, and measure the space between the counter-tops. If you're buying a kitchen range, look behind it. Is the electrical outlet recessed or does it stick out from the wall? 

As my neighbor learned not long ago, when it comes to kitchen ranges, 30" isn't always 30". The actual space needed between counter tops can vary depending upon the style of the stove. In addition, while most kitchen ranges allow space in back for the electrical outlet, not all do.

He happened to choose a new range that required the skills of both a carpenter and electrician before it fit in place. Another friend had to trim back a cabinet in order for his new, very expensive refrigerator to fit. That was an even bigger undertaking, since it involved cabinet doors, etc.

While you may have factored new appliances into the cost of selling or of moving in to your new Central Florida home, you probably didn't put the services of a carpenter or an electrician in your budget. So save yourself both time and money – take the time to choose appliances that will fit into the designated space without alterations.

One more thing… As a convenience to you, most stores will haul your old appliances away for disposal. But if they're still in working order, think about donating them instead and also receive a tax deduction. Some non-profit organizations help support their causes through the sale of used merchandise. Before your new stove arrives, give one of them a call to see if they'd pick it up.

If you haven't chosen that new Central Florida home yet, get in touch. I'll be pleased to show you homes that fait both your lifestyle and your budget.

And, if you're just getting ready to put your Central Florida home on the market, I'll be happy to provide you with a no cost, no obligation market analysis.

Looking for a Home in Central Florida? Don't Get Distracted by the Homeowner's "Stuff"

Most real estate agents in Orlando will advise his or her listing clients to stage their homes. If they don't actually hire a stager, they should at least clean, de-clutter, and de-personalize their home before it goes on the market. Unfortunately, not all homeowners take that advice.  The result: Homebuyers touring the home may be distracted by things like a messy living room, the homeowner's collections, family photographs, or even colors that don't please you. If you fall into that "distraction trap," you could fail to recognize a home that could be "just right" for you.

Here are some thoughts to keep in mind as you view homes:

1. Worn carpeting or vinyl is not a drawback, but an opportunity. The price has either been reduced for this defect or you may be able to get a flooring allowance. Either way, it means you can live with brand new flooring in the color and style you choose.
2. "Ugly" paint colors are another opportunity. Why? Because they discourage buyers who can't see beyond them. Thus, the home may not be getting other offers. Paint is inexpensive, and when you re-paint after closing, you have the opportunity to choose the colors that are most pleasing to you.
3. Stay focused – Ignore the family photos, the trophies, the collections on display, and the interesting furnishings. The puppy may be cute, but don't let him capture your attention. None of those items comes with the house, and they're not why you're there.
4. Look past decorating that's not your style. All those things will be removed – you'll be decorating in your own style. An ugly couch or bedspread has nothing to do with the house.
5. Look past cobwebs and fingerprint smudges on cabinet doors – because most buyers can't. You may be able to get a bargain on the house in exchange for a couple of days' worth of cleaning.
6. Do look at the size of the rooms and the placement of doors, windows, and built-ins. Even if the room is over-full, try to visualize how your own furnishings would fit. 
7. View each room with an eye toward how you'll use it – not how the current residents are using it.
8. Visualizing yourself living in an Orlando or Central Florida home that hasn't been properly prepared for sale isn't always easy. But do your best to focus on the home – and not on what's in it.
9. You just might find a "diamond in the rough" at a price that will keep you smiling for years to come.

When you're ready to find a new home in Orlando, Kissimmee, Davenport and surrounding areas, get in touch. It will be my pleasure to help you find the one that's "just right" for you.