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It's a New Year and a New Brokerage

IT’S A NEW YEAR AND A NEW BROKERAGE

Just when I thought we could start winding down after all the holiday celebrations, gift giving, food, fun, and visits with friends and family we are pleased to announce that Lee and I have opened a new realty company – Bella Verde Realty.   Translation – Beautiful Green. We are grateful and thankful for each and every client, friend, family member and neighbor that has helped us achieve this goal. We could not have done it without you. Thank You.

OPEN FOR BUSINESS: REAL ESTATE BROKERAGE

We are ready to list, show homes, show commercial spaces, assist you in your move to Florida or just find a new home for you around the corner from your existing home. The past does dictate the future, and we remain happy to provide each of our clients with a beautiful new home space to hang their hats in.
Lee is our Commercial Space Expert and will be happy to assist you in locating commercial space for the relocation of your business or assist you in securing space for a new business venture.  I will continue to concentrate on the residential side of real estate sales, as I find great satisfaction in finding clients the home of their dreams.
Our office is set up and running and we are pleased to say the phones have been busy.
Please call us with any of your real estate needs, questions, or concerns. Or, we invite you, your friends and your family to join our newsletter – a great way to stay in touch with me and to stay in touch with what is going on in Solivita and real estate. Sign up today to see what is new in Solivita, Photos, the Latest Information, Fun Ideas, Reviews, Recipes, Articles, Etc. We publish the Newsletter once per month and I will be delighted to add you to our list.
May 2017 bring us all Great Health, Peace and a Beautiful Year!

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Every Reason You Need to Avoid Buying or Selling Without an Agent

buying-or-selling-without-agent

Many things are doable with a little bit of research and time, but is buying or selling without an agent a gamble you are ready to take? A real estate agent has put hundreds and hundreds of hours into market research, developing skill sets, and creating systems that will allow them to out perform other agents in their market. Your greatest ally and strategy for buying or selling is to have an expert agent by your side. If you’re still not convinced, here are 5 reasons buying or selling without an agent is something you want to avoid:
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Downsizing Your Home In 5 Smart Moves

Cashing Out When Downsizing Your Home

The kids are out of the house, up-keeping the home has begun to take more and more time, and you’re looking for a setting where you can live smooth and easy. Do these symptoms sound familiar? Downsizing your home often gives homeowners a big break after decades of cash tied up in equity. When you sell your home, you’ve got tons of purchasing power that most home buyers don’t –  this means striking better deals and beating out competitors. You may also have enough cash left over to use as a buffer between you and your retirement savings. How does all of this magic happen? (1)Make the following 5 smart moves and (2) work with a realtor who knows the ins and outs of the area you’re looking to downsize to.

1. Stage Your Home

The most minimal and cost-friendly upgrades can make all the difference. Replacing old, out-dated bedding and bath towels, for example, can give your home a new look with minimal effort. Also, remove clutter that you have held on to for a decade or more – put it away in storage or get rid of it completely. De-cluttering will also make life easier when moving into your smaller home!
If you’ve got a higher-priced home, you might want to look into getting a professional stager. A stager can really shine new light on your home and help get you top dollar. Costs for hiring a stager can vary, but a NAR survey revealed a median cost to be $675. The NAR survey also revealed that 90% of sellers’ agents said staging resulted in an increase in price buyers would pay.

2. Consider a Town House or Condo

If you’re looking to keep more of your cash for retirement savings, consider moving into a town home or condo. Prices for these rose just 3.1% in 2015, NAR says, vs. the 7.2% growth among single-family homes. Other perks, besides more money in your pocket, include less upkeep – landscaping, repairs and service to major appliances, and more.
Though, town houses and condos do have some drawbacks.; the biggest being high HOA fees and surprise costs. Working with a realtor who knows the ins and outs of the area you’re looking to downsize to can help with avoiding some of those surprise costs.

3. Build a Mortgage That Is The Right Size For You

Cashing out your home puts money in your pocket, and this means you can put down a larger down payment which will reduce your monthly mortgage. Were you thinking of paying off your new home? Think again! Having a mortgage at this stage in life isn’t a bad idea, as 30-year loan rates are below 4%, and it’s tax deductible.

4. Take On Cosmetic Repairs

This is where purchasing power and time come together to strike gold. The likelihood of finding a real bargain in a home that is perfect for you is high if you are willing to take on some cosmetic upgrades.
You can find bargains because younger buyers are still trying to find their way in life and cannot take on such a project. Also, you most likely have more time at hand to manage a contractor who will make the needed cosmetic repairs. In turn, the money you save on the new home because of its cosmetic shortcomings will almost always keep you well under what you would have paid if the home was up to par. What kind of numbers can you expect? NAR survey found savings of 15% to 55% for homebuyers who opted to buy a fixer-upper.

5. Try It On For Size Before You Buy

Have a particular square footage or home style in mind? Don’t rush into something you might deem unfitting later on. Consider renting something with the square footage you have in mind. You may find that it’s just not enough space for you, or that the style of home wasn’t quite what you needed.

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Kissimmee Florida Homes Sales Summary

kissimee-real-estate-sales-report

April 1st marks the opening day of the real estate major league season, or at least that’s what I like to call this busy 4-month period. Kissimmee Florida homes sales peak between April and July, making it the busiest season of the year for many reasons. For people with kids, school is or has wound down and they are looking to make the move during the Summer months while the kids are out of school. For people who have an empty nest and are in retiring mode, they have had enough of the snow by April and get into relocating mode. What ever your situation may be, the following information is one you should take into consideration if you are buying or selling a home in 2016.

Kissimmee Real Estate Cold Hard Facts

According to a recent news report, this January, the Orlando Metro area housing market outperformed the state of Florida’s. In the Orlando metro area, buyers paid a midpoint of $202,000, which is $3,000 higher than the current median price throughout the state of Florida.
A report by Florida Realtors stated that a tight job market along with a thinning inventory helped boost Orlando’s real estate market up by more than 14 percent over the past year. Over the course of the past year, the state’s 13 percent price growth was surpassed by Central Florida’s market.
The region’s strong price growth wasn’t hurt by its pace of sales. The Orlando metro area accounted for 2,000 single-family home sales in the month of January, a 4.3 percent increase from January of 2015.
However, not every price range was selling according to Florida Realtor Chief Economist Brad O’ Connor. Affordable home sales dropped by 17 percent and the inventory of houses through- out Florida decreased from a supply of 5.9 months in 2015 to 4.5 months of supply just last month. The demand for such home prices was maintained, even with 30-year mortgage interest rates rising to nearly 3.8 percent.

What Does This Mean If You’re A Seller?

Make repairs now – gutters, squeaky doors, leaky faucets, broken moldings, paint touch-ups, pressure washing, new roof (if approaching the 12 year mark), add fresh mulch, weed flowerbeds, and any other simple repairs or improvements that could be an excuse for a buyer to submit a low bid. Keep curb appeal closely in mind as a clean, bright driveway and maintained landscaping will create competition for your home and thus being able to sell closer or above your asking price.

What Does This Mean If You’re A Buyer?

Be flexible. Things can begin moving rather quickly during this time and you must be ready for calls, face-to-face meetings, and other things that may come up during this process. Expect to exceed the asking price. In these types of market conditions, chances are the seller has several good bids and yours may not make the cut if you try to bid cheap. Get in touch with the seller and show him/her your interest in creating a home out of their space – they may prefer to sell to you even if your bid isn’t the highest because they can relate to you. Have at least two areas you would want to live in. The market is tight so we may need a back up plan.

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Finishing Strong: What You Need to Know About Your Home Closing

For many home buyers, first-timers especially, closing can be the most tedious and harrowing part of the process. Tedious because it often puts buyers in the cross hairs of both the legal system and the real estate paperwork tangle that’s required to complete the purchase.
The harrowing part is a separate issue entirely. Many of the deadlines associated with closing real estate seem ridiculously arbitrary, and missing one or forgetting a crucial piece of paperwork can delay or hinder the purchase in ways that seem impossible to anticipate.
But it doesn’t have to be that way. What follows is a set of broad guidelines about what to expect during and before a home closing, including an outline of the process, some information about the timeline and some of the requirements for different parts of the purchase.
It’s important to note that the nomenclature and procedures described here can vary slightly from state to state, so you need to know which minor variations matter most.

Before the Home Closing

before-home-closing
One of the best ways to prepare for a closing is to thoroughly understand what it’s about. The overall goal is to transfer the title of the home from the seller to the buyer, and some critical paperwork must be exchanged or verified for that to happen. The actual time required for the closing can be anywhere from a few hours to an entire day.
But much of the process takes place before the actual date of the closing. It starts when you sign the contract for the house. After that there are several important pieces that come into play.
One is the verification of the loan. Before most closings, the lender has three days to provide the buyer with an estimate of the closing costs, along with a booklet describing the process. (This booklet is also called a settlement in some parts of the country.)
In addition, the bank must do an appraisal of the property, which is normally paid for by the buyer. If the appraisal is lower than the agreed-on price, the difference must be accounted for in the financing plans in case the bank ends up foreclosing on the home.
Another important element is the title investigation, which also starts once you sign the contract. This investigation, which is normally conducted by a company or agent specializing in doing this, verifies that the title is in fact free and clear and the previous owner owes no taxes or liens on the property or the home itself.
Homeowners must also get title insurance, which helps protect both you and the bank from any undiscovered liens or taxes associated with the home and the property.
And then there are the inspections. These include a general inspection of the home, a pest inspection, environmental inspection for issues such as asbestos and mold, flood reports, and boundary verification for some rural properties.
Finally, the seller’s disclosures must also be approved. Notification of these disclosures is required in advance, and this helps the buyer become aware of any problems with the property or the home that weren’t outlined in the original listing.

At the Closing

sealing-the-deal
Paying for the house itself is a separate process that’s usually verified at the closing. The previous mortgage must be paid off if that’s part of the process, and that payment must be verified. The money you’re paying will be put into an escrow account, which is verified and monitored by an escrow company, which becomes a neutral third party in this part of the transaction.
The most important piece of paperwork in the closing is the HUD-1 form, which verifies the terms of the loan and the closing costs. This is compared to the initial estimate, and should be checked for any discrepancies in fee amounts as well as mistakes.
A final walk through of the property is usually part of the closing. This includes a review of appliances or fixtures, and buyers and sellers may pressure each other to back out of an agreement if there are problems with this part of the process.
Insurance is an important element of the transaction as well. Buyers must have homeowners insurance and hazard insurance, and these are normally verified during the closing as well.
This rundown describes most of the basics. It’s important to have an array of qualified professionals helping you, from the real estate agent to your lawyer, title agent, etc. With all of this in place, its much easier to anticipate any curveballs and make the process much smoother and less stressful.

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Life After Buying a Home In Kissimmee

Buying a Home in Kissimmee | Bella Verde Realty 01

After buying a home in Kissimmee, you probably are thinking that you have so much to learn about the area. While this is true, don’t stress, here’s what you need to know about life after buying a home in Kissimmee.
HOA’s
When buying a home, it is very important to understand the C&R portion of the HOA, Covenents and Restrictions. There can be governing rules that do not fit your lifestyle. They are designed for most, but don’t fit all. Pet restrictions, house painting etc. A strong HOA with good reserves in good standing is essential. When an HOA is run well, it limits the potential for increases and assessments for common area repairs, etc.
Property Taxes
In some areas in the Central Florida area, there are CDD’s, Community Development Districts. Community development districts (CDDs) are independent special-purpose units of government established to finance basic services within a development, including infrastructure construction, services and maintenance.
Common infrastructure improvements provided by CDDs include:
• drainage
• potable water
• sewerage
• roads and parks
This CDD is incorporated in your Property tax payment. Some Districts have large bonds that can increase the taxes substanitally.
Schools
school
Researching the grade of your local Schools when purchasing a home are very important. Their grade rating can be found online and an experienced realtor will obtain this information for you.
Transportation
transportation
Florida has been improving the transit system for years. When you depend on transit, best to search within city boundaries for best transportation options. Florida is a vast state and driving is essential. Excellent roads get you around quickly, but not all areas are serviced with good public transportation that runs beyond working hours. Living in the Tourist Capital of the world, many occupations require off hours which could be a challenge in some rural locations. An experienced local agent should know the transit options. This is one of my first interview questions when I begin working with a new client.
Entertainment
The locals in Central Florida have many options, with the weather so conducive to outdoor activities, the options are vast. Concerts in the park, Theatre, large venues like the Amway Arena, just to name a few. Locally we have some exceptional museums. Of course, the dining in Central Florida is superb, entertainment of all sorts is at your doorstep. Golf is still a #1 favorite, with over 1480 golf courses in Florida, Central Florida hosts 8 of the top ten best courses. Tennis is a great favorite as well.
Celebrity Neighbors
celebrity
Have any celebrities recently bought or sold in the area? Since this is a golf/tennis mecca, yes, it is home to many greats…..Tiger Woods, Larry Bird, Oprah Winfrey, Jennifer Capriati, John Travolta, David Cassidy, JC, Sean “P Diddy” Combs, Shaquille O’Neal, and Dennis Rodman, just to name a few!

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Must Knows When Buying a Home

There are a few must knows when buying a home that any serious buyer should know. These things aren’t top secret industry knowledge, but they’re actually just real estate basics anyone can have access to. Realtor Lorraine Valdes shares some of these must knows in a short interview below!

How can someone identify when a home is overpriced?

A good realtor will know the local market, that is why it is so important to work with someone that is experienced. Days on the market is an indicator… most sellers feel their home is better than the rest and tend to ignore market values and overprice their home, which leads to a home sitting for months. Your realtor’s research is of utmost importance!

I research every home sold in the area before recommending offer price to my buyers.

Research tells me the price per square feet and the financing obtained by other buyers in the area. Once I have that information, I can ascertain what appraisals would have been based on the mortgage type. Current market analysis is performed for every one of my buyers.

What are three things that may usually go wrong when buying a home?

Inspection, finance, and COLD FEET.
Common issues with inspections are faulty wiring, leaking roofs, plumbing issues, heating/cooling system malfunctions. Some serious problems in Florida are traces of mold throughout the structure of the home.
Financing issues usually involve a buyer not being approved for having too low of a credit score, buyer recently lost his/her job, buyer income is not sufficient, the information provided wasn’t consistent, too much debt is being taken on, or because the home appraisal was low.
Cold feet. It just happens. The buyer or the seller just has a change of heart, and that means the deal is off. There are possible penalties to either party depending on the established contract.

What kind of “first-time homebuyer programs” are available?

Many areas in Central Florida are considered for USDA loans, which is a great program. An experienced realtor working with a good lender can place you in the perfect finance program that fits the needs.

Some parting words of advice.

When buying a home, be sure to work with an experienced realtor… A good realtor places ethics first!