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Orlando Trophy Condos going up for auction "The Vue at Lake Eola"

Friday, March 12

Wow, the real estate foreclosure and bankruptcy train is rolling on with some of the top Orlando condos being auctioned off. Overlooking Lake Eola, what a great deal for cash buyers. These are deals of a lifetime.

http://www.prweb.com/releases/2010/03/prweb3716454.htm

Real Estate headaches, I thought we are over the hill-when I saw this

Tuesday, March 02

The housing downturn has resumed( did it ever stop) in earnest according to Reggie Middleton, see the article here. http://seekingalpha.com/article/191616-the-housing-downturn-has-resumed-in-earnest. I can see the issue, we still have too much inventory for sale here in Orlando and I have seen a huge increase in new listings since the beginning of the year. Who is going to buy all these homes? I see the upscale homes $300K plus taking a big hit. More foreclosures are being brought to the table and I feel sorry for the people who bought the great deals in 2007,8,9 they were not such great deals after all. Check us out at www.greaterOrlandohomes.com for great orlando real estate deals.

The Florida Bankers Association-stop court actions

Tuesday, February 09

^{Quick fix http://www.orlandosentinel.com/news/local/os-foreclosures-court-auction-20100202,0,1698353.story}^{Solving the foreclosure crises and stop collapsing values is very simple, no need to change the law and kick people out, most of them are willing to leave in an orderly way if the lenders would just be willing to make the process more orderly. Right now in Orange County there are 7,771 properties listed for sale as a short sale on the Orlando MLS. These are willing owners of homesteaded and or investment properties who want to sell, so there is no need to kick them out by eviction. 3,700 of these properties are pending for sale and have a contract from a buyer willing and able to go ahead and buy. The average day on the market for these properties is 131 days, over 4 months. If the banks would speed up the short sale process and not drive away willing buyers who want to buy, it would stabilize the market and it would get more buyers into the market. There is a process to get these homes off the books but buyers are sick and tired of waiting a year or more in some instances to get a decision from the banks. Real estate agents are sick and tired of this insane process of lost files, of waiting on the phone for hours, being disconnected to only get a no answer or better yet, get a yes answer form the first mortgage holder and a no answer from the 2nd mortgage holder (even though they are from the same mortgage company). Get this process cleaned up before kicking people out of their houses, people who are willing to sell but being hindered by their own lenders. I have seen lenders deny a short sale and then foreclose and selling the property months later 30% less. Imagine the wasted money of paying for a foreclosure attorney, the delay in the property loosing values, the losses on HOA fees, the negative impact on the seller’s credit, the losses in income for the county and the state and on and on, while there is a wiling seller and buyer ready to take over the property only to get the property foreclosed on. This makes no sense at all; fix this huge problem before starting something new. Check us out at www.Orlandoshortsaleblog,com}

Orlando home sales do well by comparison

Friday, January 29

Based on November and December real estate sales, the Orlando area is holding steady in sales according to the Orlando Sentinel. http://www.orlandosentinel.com/business/os-florida-existing-home-sales-20100125,0,3407988.story

If you want to buy homes in the Orlando area go to www.greaterOrlandoHomes.com

How to sell a property in Florida today.

Thursday, January 28

The techniques and the approach of selling a home in today’s challenging Florida real estate market is not much different than in any other market. Selling townhomes, condos, luxury properties, golf course properties, lake or ocean front properties with all kinds of amenities, the number one criteria is always pricing. A seller needs to understand there are only so many buyers buying a $5M property and a $3M property or a $100,000 property and any real estate agent can tell you how many buyers there were at whatever price range over a given period of time. If there were only 5 buyers per month over the past 6 months for a $500,000 property and there are 20 homes for $500,000 for sale in your immediate market area, as the seller you have to understand there is only a 25% chance you will get one of these buyers. Great pricing will not only bring in buyers to look at your home, but they will bid up your property if the pricing is attractive. However, besides pricing there are other important criteria and that is the location. You can have a great property in a bad location and while it eventually will sell for a price, location is always the primary factor in the consideration for pricing. I have seen a tear down property in a great location being offered and sold for millions of dollars while a luxury type property in a not so great location will only fetch a much smaller amount. Pricing a property is more an art than a science. The #1 criteria is to get an unbiased pricing input from a professional and experienced real estate agent, an agent who knows the area, an agent who is part of a professional luxury type professional organization who can market the property once it is priced and ready to be put in the MLS. Once a price is established and before the property is placed on the market there is nothing more important than a great curb appeal. You cannot move your property from a busy street to a quiet cul-de-sac but you can make your property very appealing from the outside so when a buyer drives by your property, the appearance is so inviting and so irresistible the buyer will make sure it is on their list and may overlook the mediocre location.

Here are the 10 most important factors which are selling a property.

Pricing
Location
Curb Appeal
Inside, clutter free
Remove any personal pictures
Staging – making appealing to a buyer
Marketing to agents
Marketing to buyers
Internet exposure
Video presentation

If you are ready to list or buy a home please caome to my website www.greaterOrlandoHomes.com

Gloomy outlook seen for stalled Florida real estate market

Wednesday, January 27

Reading this article I see deals, deals, deals here in Florida and oh boy do we have great weather, golf courses beaches and they will not go away but this market will and values will go back up again. So of all the long term investors here is the golf to be found like never before.

http://news.ufl.edu/2010/01/27/housing-0110/

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BiggerPockets

Orlando Trophy Condos going up for auction "The Vue at Lake Eola"

Real Estate headaches, I thought we are over the hill-when I saw this

The Florida Bankers Association-stop court actions

Orlando home sales do well by comparison

How to sell a property in Florida today.

Gloomy outlook seen for stalled Florida real estate market

Gitta Urbainczyk P.A.

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