Orlando Real Estate

The inventory of #OrlandoRealEstate available for sale continues it's long decline. The number of homes active on the market in April was down 11% compared to a year ago. The demand for homes in Orlando continues to show strength with an 8% increase sales compared to last April. The combination of short supply and strong demand pushed the median sales price up 10% as we enter the months with typically the strongest sales. Check out this short video courtesy of the Orlando Regional Realtor Association.

Posted in:Market Report and tagged: Orlando real estate
Posted by David W. Welch on May 15th, 2018 11:29 AM
Nobody Sells More Real Estate Than RE/MAX
#OrlandoRealEstate
Posted by David W. Welch on May 4th, 2018 9:40 AM

Foreclosure 101: What You Need to Know

 

Most people don’t know anything about the act of foreclosure, other than that it involves losing one’s home. However, foreclosure is a complex process, and isn’t inevitable even if you are struggling to pay your mortgage or are months behind on payments. Here’s a brief overview that covers what foreclosure is, how to avoid foreclosure, how to stop scammers, tips for purchasing a home after foreclosure, and how a real estate agent can help--

 

Foreclosure Defined

 

Foreclosure is the act of the bank or lender taking possession of a home when the party holding the mortgage fails to make payments. Foreclosure doesn’t happen immediately; the bank must first send a notice of default, which is issued after the fourth missed monthly payment.

 

How to Avoid Foreclosure

 

Foreclosure isn’t inevitable, even if you’re behind on payments. You should work with an experienced professional to explore your options, including:

 

?      Modifying or refinancing your loan;

?      Seeking assistance from state or federal programs if you are unemployed;

?      Considering filing for bankruptcy; and

?      Selling your home.

 

Foreclosure Scams and How to Spot Them

 

If you are at risk of foreclosure, be aware of foreclosure scams. In these schemes, scammers promise to save your home or lower your mortgage payments, but require a fee to do so. These scams can cost you thousands of dollars, and may not delay or prevent the foreclosure. If you have received a notice of default from your lender, watch out for the following, which may be signs of a scam:

 

?      Anyone promising to modify your loan, but asking for a fee;

?      Anyone contacting you claiming to be from the bank/lender, but asking for payments to be sent to a separate location/party;

?      “Money-back guarantee” claims;

?      Offers to buy your house for cash; and

?      Pressure to sign documents or papers you don’t understand and haven’t thoroughly read.

 

Can I Purchase a Home after a Foreclosure?

 

If your home was foreclosed on, you may be wondering whether or not purchasing again in the future is possible for you. Many people purchase a home after foreclosure, but must do the following first:

 

?     Save money - If you want to purchase after foreclosure, you will likely be required to put at least 10 percent down;

 

?     Rebuild credit - You will need to show a history of on-time payments and a low credit card balance in order to qualify for a loan after foreclosure; and

 

?     Wait - You will likely have to wait at least two years, and up to seven years, to qualify for a loan after foreclosure.

 

Reach Out to an Experienced Real Estate Agent to Learn More

 

To learn more about the foreclosure process and buying a home after foreclosure, contact an experienced Orlando real estate agent. A real estate professional can help you to find a home that’s within your budget, and answer any financing questions you have.

 

Posted by David W. Welch on April 20th, 2018 11:54 AM
#OrlandoRealEstate inventory continues to slowly decline, holding back stronger sales. Last month, the number of sales was only up about 1% compared to a year ago. The continued strong demand for homes in Orlando pushed the median price up to $230,000. That is up about 6% compared to last March. We are in the heat of the spring selling season, and homes are selling about as fast as they are coming on the market. Even with over 4,400 new listings last month, the total number of homes available for sale was up by just four properties to 7,710 over the prior month. Please take a look at this brief video from the Orlando Regional Realtor® Association with a breakdown of the market report for March 2018.


Posted in:Market Report and tagged: Orlando real estate
Posted by David W. Welch on April 16th, 2018 3:23 PM
I get emails and calls every week asking about 'rent to own' homes in Orlando. The first thing you need to know about lease purchases is that virtually nobody offers their home for sale under a lease purchase or rent to own. Out of more than 5,000 homes in Orange and Seminole Counties only 28 were offering to sell via lease purchase or lease option. There is a program though that is specifically designed to help people looking for a lease purchase alternative. Home Partners can turn many, if not most, of those 5,000 homes for sale into a lease purchase option.

To qualify, you must have a household income of at least $50,000 per year, and a minimum credit score of 575. You cannot have any recent evictions or be in bankruptcy, and they also do a criminal background check. If this sounds like it could work for you, find more details and even apply for the program right here http://www.DavidWelch.com/HomePartners.

Check out my Facebook Live video below. #OrlandoRealEstate

Posted by David W. Welch on March 21st, 2018 3:20 PM
Sales were up only slightly, but the median sales price jumped another 10% compared with February 2017. The continual shrinking of the inventory of #OrlandoRealEstate for sale combined with strong demand is likely to keep pushing prices up. Now is the time to buy.

Posted in:Market Report and tagged: Orlando real estate
Posted by David W. Welch on March 15th, 2018 11:17 AM
#OrlandoRealEstate market report for January 2018. Sales are up only modestly on plummeting inventory, but prices are way up compared to a year ago. Now is a great time to sell.
Posted by David W. Welch on February 15th, 2018 11:41 AM
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
More of the same last month here in Orlando. Sales are up, but only slightly as low inventory is keeping us from have much greater sales growth in my opinion. The low inventory coupled with strong demand has pushed prices up double digits compared with December 2016. As long as our inventory remains so low, look for this trend to continue. We have a sever shortage of homes available for sale priced below $300,000. Take a look at this brief video with the market report for December 2017.
#OrlandoRealEstate

Posted by David W. Welch on January 16th, 2018 1:15 PM
#OrlandoRealEstate
Posted by David W. Welch on December 15th, 2017 11:16 AM

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