Orlando Real Estate

The selling season is upon us. Do you know what your home is worth? I'd be happy to provide you with a FREE customized report for your #OrlandoRealEstate. Just click below, and give me a little information about your property. I will prepare a comparative market analysis, and email the report to you.
Posted by David W. Welch on January 24th, 2018 4:52 PM
leftIn a perfect world, you sell your old home and buy the new one on the same day. Given that things rarely turn out perfectly, here are some things to keep in mind as you negotiate the sale of one house with the purchase of another.


Time it right

Fall and spring are the best times for homes to move and you want to consider the season of the year when buying and selling. And if the closing dates aren’t going to coincide, a gap – rather than two mortgages – is the better. It’s easier and usually cheaper to find temporary housing than juggle two mortgages.


Selling First

  • Selling your home before buying a new one minimizes financial hazards. Even if you have to find temporary housing, it’s generally cheaper than two mortgages.
  • Get an appraisal first thing off the bat. That way you’ll have a good idea how the sale of your home will effect your purchasing power on the new one.  This will help keep you from over extending your mortgage abilities.
  • Get pre-approved on a loan for the new home.
  • Until most of your contingencies have been met, wait to put an offer on a new house. You don’t want to be left holding the bag, or in this case, the house.
  • If you’re ready to accept an offer on your home, but haven’t found the right new home, negotiate a long escrow or a sale/lease back. This will give you more time to look for the new home. Otherwise, look for temporary housing.

Buying First

It happens. You’re only thinking of buying, and suddenly the right home shows up. Now you have to sell your old home quickly. Here are some tips on making things work in your favor:

  • Negotiating a long escrow on this side of the sale works, too. You can also make the purchase contingent on your house selling. This will work better in a slow market, but it’s worth a try in any market. You never know what may also work best for the seller of your new home.
  • Try and schedule the closing date of your current home prior to the closing on your new home. Temporary housing is generally a better situation than two mortgages.
  • Take a close look at what price you’re going to ask for your home. Make sure it’s realistic in the current market.
  • When you get an acceptable offer, check the buyer’s credit history. You don’t want any surprises that are going to delay things. If you’ve closed on the new home, but haven’t sold the old one, consider renting it out, or taking it off the market until the next season (or until the market improves).

Same Market or Across Country

Generally, if you’re buying and selling in the same market, you can negotiate closing dates to work for you. But when you’re dealing with a cross country move, it’s a lot harder. A real estate professional really comes in handy at this point. Legal documents can be faxed or sent via overnight courier and your focus won’t be stretched to the limit. You may end up renting one home or the other, or have to consider a bridge loan. But with someone local in the market on your side, it will hopefully be less stressful.

Show Me the Money

Make sure you have a tight hold on, and a clear understanding of, your financial situation. Cash reserves are always helpful, but never more so than during the purchase of a home. Two to three months is the recommended reserve, but if you don’t have it, this is where the bridge loan comes in handy. Some lenders are more inclined to make a loan if it’s for the purchase of a home. If you’re a smart shopper/seller, you’ll accept an offer from someone who’s flexible about move-in dates. It can save you money in the long run. Too many moves with storage costs can quickly eat up any profit you may have made in the transaction. 

by David Welch
Orlando Real Estate

Posted by David W. Welch on September 18th, 2017 2:16 PM

 

To get your home sold quickly, it’s important that other agents in the area show it to as many potential buyers as possible. The first thing a good agent will do when working with buyers is talk to the buyer and learn what kind of home they are looking for. Then the agent will search all the available homes for those most closely matching what the buyer wants. Next, the agent puts together a list of the best matches to go show to the buyer. When a busy agent is compiling a list of homes to show a buyer, the agent will naturally tend to show those houses that are easiest to gain access to first. Many homes on the market have “lock boxes” on them. The lock box is a device which holds a key to the home, that only qualified local agents can access. Homes that are listed as being “lock box, no appointment needed” will get shown more often than homes listed as “agent has key, call for appointment”. If at all possible, you should let your agent put a lock box on your home for easier showing.

If you can’t do a lock box, you need to be sure that you make it as convenient and easy as possible for other agents to show your home. If they call, do whatever you have to do to accommodate letting them show your home to buyers on their schedule. If you don’t, the agent will probably show the buyer other homes, and if that buyer makes an offer on one of them, you’ve just lost a great opportunity.

It’s best if you can leave when the agent and buyer arrive to see your home. Buyers won’t feel comfortable with you there, and it could sour an otherwise good impression.

by David Welch
Orlando Real Estate
Posted by David W. Welch on September 6th, 2017 9:42 AM

Effective marketing is the key to selling your home quickly and getting the highest price. Aggressive, effective marketing of my Client's homes by every available medium is how I've become a top real estate agent in the Orlando area. It's my job to assure that you get as many qualified offers as possible, allowing you to extract the highest price the market will bear.

One of the most important elements of marketing your home effectively is setting the price right. Set the price too high, and you won't get any offers and your home will take too long to sell. Set it too low and you cheat yourself by not getting your home's full, fair value. As an expert in Winter Park area real estate, I analyze the market and set area home prices every single day. I'll work closely with you to assure that everything possible is done to get the highest price, in the time frame you need.

The condition and appearance of your home are also critical factors in getting the best price for your home. I'll personally walk through your home with you and advise you of what you can do to properly stage your home most effectively. Some areas are much more important and more likely to pay off than others! Often, the buyer is motivated by emotional responses as much or more than financial issues. There are usually things I can point out to you that are easy and inexpensive, yet go a long way toward triggering those "buy" emotions.

As your agent, I'll negotiate furiously on your behalf throughout the entire process to ensure that your best interests are protected. Real estate negotiations and contracts can be intimidating in their complexity. Most people have almost no experience in these negotiations. After all, how often do you buy or sell a new house? As a top real estate professional, getting you the best terms and prices in all negotiations is simply part of my job.

by David Welch
Orlando Real Estate
#OrlandoRealEstate

Posted by David W. Welch on August 21st, 2017 8:00 AM
Check out my newest video from Bird's Eye Drones, LLC. Professional photography, aerial photos and drone videos are key to marketing your #OrlandoRealEstate.

Posted by David W. Welch on August 10th, 2017 7:49 AM

Which home improvements give the best payback?

If you’re thinking about remodeling your kitchen, or finishing your basement, you probably want to get your investment back when you sell your home. But when it comes to payback value of home improvements, some are definitely more profitable than others. As a general rule, kitchen and bathroom projects usually get a nice return on investment, typically 90% or more.Things like adding rooms or finishing basements tend to pay back the least.Finishing a basement usually returns less than 50%, so it’s not a project likely to show profit at selling time.


There are a number of factors that go into determining how well a project will pay back. Payback value depends a lot on the current market conditions in your area. If the market is hot and homes are selling fast, you can expect a higher payback value than you would get in a slow market.  

 left

The type of project you do and how it fits in with other homes in the area can have a big influence on payback too. If you put your money into the wrong type of improvement, you won’t get your money back. But if you're smart about what you do, you can make money. The payback will be better on improvements that are in demand and conform to neighborhood standards. Adding a second bathroom in a neighborhood where most homes have two bathrooms will give a high return on investment.  Building a large addition that makes your home twice as big as the other homes on the block probably won’t pay back very well. Likewise, the popularity of a project will factor into how much it pays back. An improvement heavily customized to your wants and needs won’t pay back as well as something more common to other homes in the neighborhood.

 

Another factor to consider is the cost of the improvements. If you can do the work yourself, you can save significantly on the cost of the project and greatly improve the chances of getting a good return on the investment.

Flowers are a great way to add Curb Appeal inexpensively. While you're at it, don't forget The Back Yard.

 

The list below is compiled from several published surveys and shows typical payback for some popular remodeling projects:

 

  • Kitchen remodeling – 90%
  • Add a bathroom – 90%
  • Bathroom remodeling – 80%
  • Install central heating – 90%
  • Install central air – 75%
  • Add a deck – 70%
  • Replace windows – 70%
  • Add a room – 55%
  • Build a pool – 45%
  • Finish a basement – 40% (not a lot of this in Orlando)
by David Welch
Orlando Real Estate
#OrlandoRealEstate
Posted by David W. Welch on May 15th, 2017 7:50 AM

Effective marketing is the key to selling your home quickly and getting the highest price. Aggressive, effective marketing of my Client's homes by every available medium is how I've become a top real estate agent in the Orlando area. It's my job to assure that you get as many qualified offers as possible, allowing you to extract the highest price the market will bear.

One of the most important elements of marketing your home effectively is setting the price right. Set the price too high, and you won't get any offers and your home will take too long to sell. Set it too low and you cheat yourself by not getting your home's full, fair value. As an expert in Winter Park area real estate, I analyze the market and set area home prices every single day. I'll work closely with you to assure that everything possible is done to get the highest price, in the time frame you need.

The condition and appearance of your home are also critical factors in getting the best price for your home. I'll personally walk through your home with you and advise you of what you can do to properly stage your home most effectively. Some areas are much more important and more likely to pay off than others! Often, the buyer is motivated by emotional responses as much or more than financial issues. There are usually things I can point out to you that are easy and inexpensive, yet go a long way toward triggering those "buy" emotions.

As your agent, I'll negotiate furiously on your behalf throughout the entire process to ensure that your best interests are protected. Real estate negotiations and contracts can be intimidating in their complexity. Most people have almost no experience in these negotiations. After all, how often do you buy or sell a new house? As a top real estate professional, getting you the best terms and prices in all negotiations is simply part of my job.
#OrlandoRealEstate

Posted by David W. Welch on May 11th, 2017 4:35 PM
I have often joked that I have such an odd profession. I have literally been in thousands of peoples homes, usually when they are not even there. I've looked in their cabinets, poked around in their closets, taken photos of their bathrooms and kitchens. What? Your home may be your castle, but when you put it up for sale, even your shower will end up on the internet. It does not end with the photos of your home, because the purpose of all those photos, measurements, and exposing the intimate details of your property is to attract strangers. Yes, strangers!

Selling your home is all about attracting the most strangers to your property, so they can check out your property in person. These people are guided through your home by another stranger that has probably never been there before. This guide is usually pointing out the pros and cons of your home, and helping the other strangers decide if your home is right for them. This guide makes an appointment with you, through your own guide, so you will know they are coming.

Here is one of the weirdest parts of selling your home. To prepare for the strangers coming to your house, you do everything the opposite of what you normally would do when you leave. You turn on all the lights, open all the blinds, turn the AC a little cooler (here in Orlando), turn on some smooth jazz, and if you have a security system - you turn it off.

Yes, selling your home is so weird.
#OrlandoRealEstate
Posted by David W. Welch on April 20th, 2017 7:53 AM

Contact Me
Most people only speak with one agent. Selling your home is a big deal. Before you make a listing mistake, contact me for a second opinion.
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David Welch, MBA
Call: (407) 924-7670

#OrlandoRealEstate
Posted by David W. Welch on January 9th, 2017 3:35 PM
I have been in the real estate business for over 19 years now, and I just did something I have never done before. I sold my own home. I have purchased three homes, but I have never actually sold a home before. Don't get me wrong I have sold hundreds of homes, but always for someone else.

I tell customers all the time that 'selling your home is inconvenient.' Now I really know what I meant. There are some things you can do to prepare for a sale that will make things move more smoothly. Before putting your house on the market, have your agent come over and help you prioritize a to do list for anything that needs to be addressed to help your house show the best it can.

Often, this to do list can be broken down into 'de-cluttering, repairs and improvements.' 

De-cluttering is a great place to begin, because it usually doesn't cost anything and it gives you a head start on packing for your move. Start with family photos, personal mementos and other items that are meaningful to you, but probably won't help sell your home. Occasionally, folks have just too much furniture in a room, and that can make the room feel smaller than it is. If you can move some of the pieces to another room, that's great, but you may need to have a garage sale or get a storage unit if you really have a lot of furniture. Furniture de-cluttering can either be a money maker or an additional cost if you need to store items temporarily.

In my opinion, repairs would be the next priority in preparing your home for sale. Buyers generally don't want to get into a home that needs work. If you are not willing or are unable to get things into working order, expect to get less for your home. A relatively small repair could be the difference in getting market value or taking a big hit. 

Improvements rarely pay for themselves, but some can make a big impact. A fresh coat of paint can often go a long way toward improving the marketability of your property. I also find that a few updated light fixtures can really make a home stand out from the competition.

If you're thinking of selling this year, now is the time to get in touch with your agent to go over the preparations you will need to make to help your home sell in quickest time and for the most money. It's not convenient selling your home, but if you prepare ahead of time, you can have a faster and smoother sale.
Posted by David W. Welch on January 19th, 2016 11:50 AM
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