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If you've been thinking about purchasing a home in Orlando, then now may be a perfect time to do so. It doesn't matter if you're a first-time buyer, an investor, or if you're about to retire - right now is an absolutely perfect time to buy.
Sky-high affordability is allowing a lot of people to buy homes this year. Interest rates for most loan programs are below 4%, which is an unbelievable rate for borrowers. However, they are on the rise, and a 1% increase in interest rates will affect your purchasing power by 10%. This means if you don't buy soon, you may not be able to afford a home later. For example, you can afford a $200K home now, but if rates rise by 1%, you'll only be able to buy a home that is worth $180K.
Home prices in Orlando are also about 30% lower than what they were when the market peaked in 2006 and 2007, so this makes homes ...

Buying A Fixer-Upper?

When you buy a home, it is usually going to be one of the most expensive purchases you ever make. However, with that expense comes a valuable piece of property that can be worth considerably more over time. When buying this home, you may want to purchase one that is considered to be "below market value." That phrase means the home is priced at much less than what it is truly worth or perhaps should be priced.A home like this will eventually gain in value with the remodeling and fixing up that you will proceed to do. This may be a better option long term instead of overspending on a brand new house only to find your profits diminishing as the housing market changes.Having patience is usually the key to finding a below market home that can bring you the profits you seek. Often you need to look at several aspects of the home to determine if it really can be cost effective for you. Normally such homes have not been maintained very well for one reason or another. ...

Homebuyers make some serious money mistakes, especially when it's their first time. There's a lot more to getting a mortgage than just filling out an application and handing over tax returns and pay stubs. Since most people don't pay cash for their house, it's safe to assume that financing will be in-order.
But even with insanely low interest rates, and mortgages being approved with as little as five to ten percent down, there's another side to financing a home purchase, and it's not a very pretty picture. When an individual or couple get pre-qualified, it only means the lender is ballparking what that person or couple can afford. Then, there's the pre-approval process. That's a figure which is based on actual, demonstrable numbers, calculated after reviewing the applicant's financials.
And last but not least, there's the last-minute review a first time home buyer undergoes, when the lender pulls a second credit report only days before the sched ...

The two questions on every homeowner's and buyer's mind in the current real estate climate are: is it a sellers’ market, or, is it a buyers’ market? The answer really depends on which locality you're referring to, but at-large, more people selling their home are getting their asking price, or close to it. Some markets, like Palm Beach, are in the midst of a seller’s market, and what's more, is that nationally, surely but slowly, home values are creeping up, making what was an across the board buyer’s market, vanish as the months roll on.
That's because the housing market is stabilizing. And, as inventory gets more lean, prices begin to rise. In layperson's terms, a buyer's market means that there are a lot of homes for sale at one time. So, in order to get an edge over the competition, home sellers have to lower their prices in order to compete with other homeowners selling what is essentially the same home. Meaning, it has ...

 

Negotiating tactics... It’s a topic that business authors adore. This is perennial best-seller territory…so much so, you could probably fill a moderate-sized home library with titles like The Art of the Deal and Getting to Yes. 

When it comes to negotiating a home purchase in Orlando, fine-tuning your offer—finding the balance between writing a winning offer and writing the most advantageous offer—can present a real challenge. Add to that the national headlines that tell us that there are more bidders out there vying for the same properties, and it makes sense to listen to what the experts have to say about the most successful tactics. When you’re negotiating a home purchase, some of the most repeated generalities are applicable:

Keep Your Cards Close To Your Chest:

Kenny Rogers sings about it, and every poker player agrees: when you’re negotiating, it’s almost always prudent to volunteer as little information as poss ...