Think Florida’s just about theme parks? Think again..

There’s a whole side to this state you’ve probably never seen — wild, untouched, and waiting to be explored. Picture yourself hiking through lush parks, finding hidden springs, and soaking up the real “Old Florida.” Trust me, you don’t want to miss these natural gems. Florida’s just about theme parks? Think again. There’s a whole side to this state you’ve probably never seen — wild, untouched, and waiting to be explored. Picture yourself hiking through lush parks, finding hidden springs, and soaking up the real “Old Florida.” Trust me, you don’t want to miss these natural gems, click here to view. In addition, there's a Google link to Florida parks below that show's many options. 

Understanding Short Sales: A Guide for Home Buyers

 

Let's talk about short sales. If you're house hunting, you've probably seen this term pop up and wondered if it might be your ticket to a great deal. But before you dive in, you should know what you're getting into.

First, what exactly is a short sale? It's when a homeowner sells their house for less than they owe on their mortgage, with the bank's permission. For example, if someone owes $300,000 on their mortgage but can only sell their house for $250,000, that's a short sale.

The Good Stuff

The biggest draw is pretty obvious: the price. You can often get a property below market value because the bank is trying to avoid a costly foreclosure. These discounts can be significant – sometimes 10% to 20% below market value.

Another important consideration: While we mentioned these homes can be in better shape than foreclosures, that's not always the case. Many short sale properties have deferred maintenance issues because the owners who fell behind on mortgage payments often couldn't afford proper upkeep either. You might find issues like outdated HVAC systems, worn-out appliances, or neglected yard maintenance. This makes that thorough inspection even more crucial – you need to know exactly what you're getting into and budget accordingly.

Another plus? You're dealing with a real person (the current homeowner), not a bank's REO department. This can make the inspection process smoother and give you better access to information about the property's history.

The Not-So-Good Stuff

Now for the reality check – and it's a big one. That amazing deal you're hoping for? It might not be so amazing after all, and you could waste months of your life finding that out.

Short sales can be painfully slow. The term "short" refers to the bank taking a loss, not the timeline. You might wait 3-6 months (or even longer) for an answer on your offer because the bank, the seller, and sometimes multiple lien-holders all need to approve the deal. During this time, you're stuck in limbo – can't make firm plans to move, might miss out on other properties, and you're spending money on inspections with no guarantee of success.

Speaking of wasted money – you'll need to pay for inspections upfront, often before knowing if the bank will even accept your offer. If the deal falls through (and many do), that's money you won't get back. You could easily spend $500-1,000 on inspections and walk away empty-handed.

The paperwork is intense. You'll need patience and a strong stomach for bureaucracy. Banks often have their own lengthy forms and processes, and they're not known for moving quickly. Each round of negotiations can add weeks or months to the process.

Here's something that surprises many buyers: You might not get as good a deal as you expect. Banks aren't stupid – they do their homework on property values. If your offer is too low, they'll reject it, no matter how much the seller wants to accept. You could wait months only to find out the bank won't budge on price, putting you right back at square one.

You'll also need to buy the home "as-is" in most cases. While you can (and should) get an inspection, the bank probably won't pay for repairs. That perfect-looking house might need a new roof, and that cost is on you.

Another important consideration: While these homes can sometimes be in better shape than foreclosures, that's not always the case. Many short sale properties have deferred maintenance issues because the owners who fell behind on mortgage payments often couldn't afford proper upkeep either. You might find issues like outdated HVAC systems, worn-out appliances, or neglected yard maintenance. This makes that thorough inspection even more crucial – you need to know exactly what you're getting into and budget accordingly.

If you're still interested in pursuing a short sale, here's how to improve your chances of success:

Get pre-approved for a mortgage. Cash offers are even better. Banks love certainty, and a strong financial position makes you more attractive.

Work with professionals who know short sales. Find a real estate agent and a lawyer who have done this before. Their experience can be invaluable in navigating the process.

Do your homework. Get a thorough inspection and research the property's value. Know your maximum price and stick to it. Factor in repair costs when making your offer.

The Bottom Line

Short sales can be a good way to get a deal on a house, but they're not for everyone. If you need to move quickly or don't have the patience for a lengthy, uncertain process, you might want to stick with traditional sales. But if you've got time, patience, and a good team behind you, a short sale could be your path to homeownership at a discount.

Just remember: "short" sale is one of real estate's great ironies. There's nothing short about it except the bank's end of the deal.

A LOT OF CONDO AND TOWNHOME COMMUNITIES IN FLORIDA HAVE ISSUES WITH FINANCING, WHY?

A LOT OF CONDO AND TOWNHOME COMMUNITIES HAVE ISSUES WITH FINANCING, WHY?  

Some communities are classified as 'non-warrantable' which means it doesn't meet the standard guidelines set by the Federal National Mortgage Association (Fannie Mae) or Federal Home Loan Mortgage Corporation (Freddie Mac). These entities buy, package and resell mortgages, often repackaged as mortgage-backed securities. In this case, these two enterprises do not back the community.

Consequently, a buyer's lender must independently approve the condo building. Banks will have their own standards and criteria to establish if they're comfortable lending in non-warrantable communities. Typically, they scrutinize things like fiscal health of an HOA accounts/dues being up-to-date along with occupancy among other factors before approval.

WHAT MAKES SOME CONDOS NON-WARRANTABLE?

A condo can be considered non-warrantable for several reasons, typically based on the criteria set by Fannie Mae and Freddie Mac. Here are some common factors that could make a condo non-warrantable:

• High Investor Concentration: If a large percentage of units in the building are owned by investors rather than owner-occupants.
• Commercial Space: If a significant portion of the project's square footage is designated for commercial use.
• Low Occupancy Rate: If fewer than a certain percentage (commonly less than 50%) of units are sold or under contract to owner-occupant buyers.
• Lawsuits Against HOA: If there are pending legal actions involving the condominium association or homeowners association (HOA).
• Dues Delinquency Rate: If more than a certain percentage (commonly over 15%) of units are behind on their HOA dues.
• Amenity Ownership and Usage Restrictions:If amenities such as pools, gyms, or parking space ownership rights do not conform to specific guidelines.

If you're interested in purchasing or selling within a non-warrantable condo community, its advisable to work closely with your real estate agent and lender. They can help navigate financing options since traditional lenders might have stricter requirements or offer fewer loan products for such properties.

To Decorate Or Not To Decorate When Selling Your Orlando / Central Florida Home

 

We’re into the holidays, hard to believe! How can that affect the presentation of your Orlando home for sale?

You have the opportunity to make your house stand out on the block with some colorful décor. Who doesn't stop for a beat and think "That's nice" when they see corn stalks, pumpkins, and mums clustered around a gate post or an entry door?

Inside, holiday décor can lend a festive air and create a joyful atmosphere – something everyone wants to feel in their own home. It could be just the thing that makes a prospective buyer think "This is home."

Each holiday presents that opportunity – but do be cautious.

Homeowners who go "all out" in decorating could be harming, rather than helping the presentation of their homes.

Why? Because when it's over-done, visitors will focus on the decorations instead of the house. In some cases, décor can even hide some of a home's best features, while making rooms appear small and over-crowded.

So decorate. Add some lively color and create a festive mood. But keep a light touch. You want those visitors to focus on your home, not your decorating skills.

- Cathy Starkweather, Realtor 

Investment Home Specialist / Orlando Top Producer

cathystarkweather@gmail.com / 407.274.8476

Regal Palms Resort and Spa Floor Plans

3 Bedroom / 3 Bath with 1,492 heated square feet - All three are on-suites! One full downstairs on-suite and both bedrooms upstairs have garden tub/shower combo. One upstairs bedroom has a balcony. Stackable washer and dryer space downstairs.

3 Bedroom / 2.5 Bath Antigua Model with 1,457 heated square feet - In this floor plan, there's a lot of living space downstairs along with a half bath. All bedrooms are upstairs and bedroom 2 and 3 share a bathroom. The master bathroom has a garden tub/shower combo. There is room in this floor plan for a full size washer and dryer upstairs.

4 Bedroom / 3 Bath - Jamaica Model with 1492 heated square feet - Offers a bedroom and full on-suite bathroom downstairs. A stackable washer/dryer space downstairs. Three bedrooms upstairs and two share a full bath upstairs. 

4 Bedroom / 3 and a 1/2 bath - Bermuda Model with 1,856 heated square feet. All the building end units are this floor plan, the only way to have a townhome at either end of the building is to purchase this floor plan. This has it all - all the extra living space downstairs plus an oversized full on-suite in addition to a 1/2 bath downstairs. There's room for a full size washer and dryer upstairs. The master upstairs has a garden tub and private lanai. The two bedrooms upstairs have a shared bathroom.

Have more questions about Regal Palms or other resort communities in the Disney area? Call, email or text me - 

Cathy Starkweather

REALTOR & Vacation / Investment Home Specialist

La Rosa Realty, LLC, Celebration, FL

CathyStarkweather@gmail.com 

+01.407.274.8476

3 REASONS WHY SOME ORLANDO HOMES DON'T SELL

You've heard that Orlando is experiencing a seller's market. There are more people looking for homes than homeowners wanting to sell.

That means every house that's offered will sell quickly and for top dollar, right? No, that isn't the case. Even in a hot seller's market, some homes will remain unsold. 

Homes in Orlando fail to sell for 3 primary reasons:

• The Price
• The Pictures
• The Sellers

THE PRICE: Buyers want to buy, but they don't want to pay more than market value. Today's buyers are well-informed. They've been looking at homes on line and comparing them perhaps for weeks before choosing the homes they want to see. 

So, if a house is badly overpriced, they aren't interested. Yes, they can always make a much lower offer, but many prefer not to get involved in what they see as a hassle. 

In addition, even if the buyers are willing, their bank won't be willing. If they're getting a home mortgage loan to buy a house, it will have to appraise for at least the amount of the loan. 

THE PICTURES: Because more than 90% of all home buyers begin their search on line, the pictures your agent posts are of vital importance. The descriptions he or she writes make a difference, but it's the pictures that catch buyers' eyes and cause them to stop and learn more.

Unless an agent is a talented real estate photographer, he or she should hire a professional for this task. It is THAT important. 

THE SELLERS: That might sound strange, but sometimes home sellers are their own worst enemies.  They can prevent a home from selling in several ways: 

• Insisting on a too-high price
• Refusing to do clean-up, fix-up, and de-cluttering
• Making no effort to have the house clean and ready when buyers arrive
• Refusing to vacate the house while it is being shown
• Limiting days and hours when the house can be shown
• Refusing to negotiate

Whether we're in a buyers' market or a sellers' market, homes sell faster and for more money when homeowners and their agents work together, each doing their part. 

When you choose me to bring your Orlando home to market, I'll show you the true market value, make the house look its best on line, and work with you every step of the way. 

If you'd like to learn about my marketing plan, just get in touch. I'd love to talk with you. 

To Decorate Or Not To Decorate? Presenting your Orlando home for sale during the Holidays...

We’re almost into the holidays, hard to believe! How can that affect the presentation of your Orlando home for sale?

You have the opportunity to make your house stand out on the block with some colorful décor. Who doesn't stop for a beat and think "That's nice" when they see corn stalks, pumpkins, and mums clustered around a gate post or an entry door?

Inside, holiday décor can lend a festive air and create a joyful atmosphere – something everyone wants to feel in their own home. It could be just the thing that makes a prospective buyer think "This is home."

Each holiday presents that opportunity – but do be cautious.

Homeowners who go "all out" in decorating could be harming, rather than helping the presentation of their homes.

Why? Because when it's over-done, visitors will focus on the decorations instead of the house. In some cases, décor can even hide some of a home's best features, while making rooms appear small and over-crowded.

So decorate. Add some lively color and create a festive mood. But keep a light touch. You want those visitors to focus on your home, not your decorating skills.