Lake Mary & Orlando's Place for Real Estate Advice, Tips & Fun Facts

It's Official The First Time Home Buyer Tax Credit has been Extended

Thu, 05 Nov 2009 15:17:52 -0600

Orlando Home buyers you have heard it hear first. The Extension of the First time Home Buyer tax credit and addition of the move up buyer credit is official it has passed the house and senate and sits for the President to sign tomorrow. IF you want to go to my previous post to read more about the Home Buyer Tax Credit.

This is great news for people selling Orlando Real Estate and Lake Mary Real Estate and for home buyers of all kinds to take advantage of the low prices, low rates and now the free money.

First Time Home Buyer Tax Credit Extension - Something to be Happy About

Thu, 05 Nov 2009 06:56:44 -0600

Orlando & Lake Mary First Time Home Buyers have something to be happy about this morning. The First Time Home Buyer Tax Credit has passed the Senate last night with a majority vote of 98-0. Now the bill goes to the House where it could be voted on as early as today.

The passing of this bill is great news, but what's even better is this tax credit not only applies to first time home buyers but to home owners looking to purchase a move up home. I think this is the last little boost the housing sector needs to keep the ball rolling in the right direction and help it stabilize some. Lets take a look at what this Home Buying Tax Credit entails.

First Time & Move Up Buyer Tax Credit

$8000 for First Time Home Buyer*

$6500 for Move Up Buyers*

Homes must be under contract by April 30, 2010 and close by June 30, 2010

For Men/Women serving our country outside the US the tax credit is extended an additional year til April 30, 2011

* What makes you a first time home buyer - anyone who hasnt owned a home in the last three years and as a single filer makes less then $125,000/yr or joint $225,000

** What makes you a move up home buyer - Someone who has owned their current home at least five years and same income limits apply.

It's not a done deal yet but with the large support in the Senate it's said to pass the House quite easily. If you have been thinking about purchasing Lake Mary Real Estate or even Orlando Real Estate then now is the time. Leaders are saying this tax credit will not be extended again.

Real Estate in the Central Florida area is some of the lowest it has been in years, coupled with the tax incentive and very low interest rates you have the perfect home buying storm.

For more information on being a First Time Home Buyer and how to get started read my guide to Buying your First Home - You only get one First.

But if you're a more saavy and experienced Home Buyer looking to move up and tax advantage of the new tax credit read my site on Moving with Families & Relocation.

Get started on your search visit HEATHER THE REALTOR stop by the site to chat live, give me a call at 407-218-5099 or email me at Heather@HeatherTheRealtor.com

Bank Owned Luxury Home in Heathrow Country Estates - Never Lived in

Wed, 04 Nov 2009 19:58:24 -0600

Bank owned real estate in Heathrow Country Estates. Brand New David Weekly Home Never Lived In. Bank must sell this month come make an offer!!!

Heather Joubran | RE/MAX Central Realty | 407-810-6304

25622 Hawk's Run, Sorrento, FL

Brand New David Weekly Home located in Heathrow Country Estates -
Bank Owned

4BR/3.5BA Single Family House

offered at $500,000

Year Built	2007
Sq Footage	4,036
Bedrooms	4
Bathrooms	3 full, 1 partial
Floors	2
Parking	3 Car garage
Lot Size	.44 acres
HOA/Maint	$216 per month

DESCRIPTION

Brand New David Weekly Cassandra Model - Never Lived in! This stunning Bank Owned home has all the bells and whistles and for much less then you can purchase it for from the builder. Bank is entertaining all offers and must sell this home quickly! Home features 42" cherry cabinets, granite countertops, double ovens and cooks island, fireplace, bonus loft, office/den, master bedroom is stunning with custom fitted closets big enough for a shopaholic. Built in workspace upstairs. The list goes on, this home is truly amazing!

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- High/Vaulted ceiling	- Walk-in closet	- Hardwood floor
- Tile floor	- Family room	- Living room
- Bonus/Rec room	- Office/Den	- Dining room
- Breakfast nook	- Dishwasher	- Stove/Oven
- Microwave	- Granite countertop	- Stainless steel appliances
- Attic	- Laundry area - inside	- Balcony, Deck, or Patio
- Yard	- Jacuzzi/Whirlpool

COMMUNITY FEATURES

- Garage parking	- Clubhouse	- Fitness center
- Tennis court(s)	- Golf course	- Lake
- Playground	- Gated property	- Secured entry

OTHER SPECIAL FEATURES

- Bank Owned Property - Bank Must sell lets make an deal!

- Stunning Family room w/vaulted ceilings & fireplace

- A master Bedroom & Bathroom fit for a King & Queen

- Chef's Kitchen w/granite counter tops and cooking island

- 24 Manned Gated Community

- Home has never been lived in - Brand new David Weekly

- Redtail Golf & Country Club

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4

Contact info:

Heather Joubran

RE/MAX Central Realty

407-810-6304

For sale by agent/broker

Equal Opportunity Housing

Posted: Nov 4, 2009, 4:19pm PST

Downtown Orlando Chick-Fil-A opening tomorrow First 100 People Get Free food for a year

Wed, 04 Nov 2009 08:20:45 -0600

Downtown Orlando well to be exact SODO is welcoming the newest addition to the Chick-Fil-A chain on Orange and Michigan Ave tomorrow. As part of this great opening celebration Chick-FiL-A in downtown Orlando will be hosting their First 100 Fans promotion. This promotion gives the first 100 people in line free Chick-Fil-A for a year. Yup for a full Year!

Anyone 18 and over will receive vouchers for 52 weeks towards the use of a free combo meal. I am half tempted by this deal to go camp out, I love Chick-Fil-A just not sure my waist line can handle that :)

If your in the Downtown area and feeling like a free year of Chick-Fil-A then stop by their grand opening and be one of the first 100 fans in the door.

National and Local Foreclosure Stats

Tue, 27 Oct 2009 18:40:20 -0500

I am going to try to keep everyone up to date every month on the national and local foreclosure stats.

I think it's an important gauge on where the market is going and where it has been.

For the month of October 2009 Information updated on 10/27/09 at 4:27 pm

Nationally 440,858REOs

Florida 55,239 REOs

Seminole County 789 REOs

Orange County 4,451 REOs

Orlando REO Bundle over 40 great properties!

Fri, 16 Oct 2009 23:06:22 -0500

Orlando REO Bundle for sale that includes over 40 properties for under $3.5 million. If you are looking for a deal here in Orlando, FL then look no further then this perfect bundle.

Wake up and smell the coffee, your opportunity is knocking and wont be around long. Bank wants to sell these assets in 30 days or less!!!

Properties ranging from condos to million dollar homes from fixer uppers to brand new construction from the builder. From Lake Mary to Orlando and East Orlando to Sorrento. A large number of assets in this REO/Bank Owned bundle are in gated communities.

If you are interested in purchasing this bundle of REO properties here in Central Florida contact me for this private package.

Heather Joubran 407-810-6304 Heather@HeatherTheRealtor.com www.HeatherTheRealtor.com

Heathrow Country Estates - Brand New David Weekly - Banked Owned Home

Fri, 16 Oct 2009 22:56:53 -0500

Brand New David Weekly Home located in Heathrow Country Estates in Sorrento, FL. This home is an Bank Owned REO Property that is in absolutely stunning condition. The home has never been lived in, the light fixtures still have plastic wrap on them. We are selling this house below what you can buy it from the builder. Even still dont let the price scare you, bank needs to sell this house in the next 30 days so they are open to all offers. This home has yet to be placed on the market get the first chance to purchase here!

Nestled in Lake County, within the distinguished gates of Heathrow Country Estates, lies one of the most unique golf communities. Featuring exclusive luxury homes, generous amenities, spectacular views of pristine rolling country side, majestic 100 year oaks and space, yes space - it is what sets Heathrow Country Estates apart from anything else found in Central Florida. And this is just the beginning; it also offers a lifestyle unmatched by others with every convenience you'd expect from a world class resort with the intimacy of a wooded retreat.

Home to RedTail, a private 18 hole Golf Club and Pro-Shop, featuring:

Two Gated Entries
A state of the art fitness center, spa and relaxation pool
Two Har-Tru red clay tennis courts
A grand dining room and veranda, complete with an outdoor fire pit
Exceptional gourmet dining and intimate members bar
A tree lined children's park
A unique 24/7 market café

This home is the stunning Cassandra Model and features:

Stunning grand staircase
Gourmet Kitchen - with double ovens, cooking island, 42" Cherry countertops, granite counter tops
Elegant Dining room with pass through bar area
Impressive Family room open to the second floor and warmed by a gas burning fireplace
A master bedroom fit for a king in queen with a walk in closet a shopping diva would die for
Master bathroom features separate his and her vanities w/make up station, dual headed shower, jetted tub the list goes on
Downstairs office/den
Upstairs boasts a large bonus room - 3 large bedrooms and 2 full bathrooms - plus workstation area
Enclosed attic area makes for the perfect storage room or Santa's workshop
3 Car side entry garage
Brick Paved Driveway
Extended covered Patio
3/4 acre corner lot

Dont hesitate, if you have been looking for luxury living with spacious yards and just minutes from everything then this home is for you. Just 15 Mins to the Heathrow/Lake Mary High Tech Corridor. Priced at $500,000

Contact Heather Joubran 407-810-6304 email Heather@HeatherTheRealtor.com or visit www.HeatherTheRealtor.com

Baldwin Park David Weekly Former Model Home for Sale near Publix

Wed, 30 Sep 2009 16:12:26 -0500

This home is located in one of the most sought after area's of Baldwin Park, in the heart of the community just steps from the Publix, shops and restaurants.

This MacFarland model was built by David Weekly Homes and was a former model, sporting features not found in any other home like a whole home intercom system. The property has been lovingly cared for and boasts large tile flooring and plush carpeting, not to mention 42" cabinets, fenced yard with brick pavers, rear entry garage, garden tub and dual sinks, UV filtration system on the A/C and spacious split floorplan.

Property is a short sale status but dont worry the property is being handled by a Certified Distressed Property Expert (CDPE) and the bank has estimated 38-45 days for response time on offers. Seller had a death in the family and can no longer afford to make payments, we have already been in contact with the bank.

You could buy this same exact model from the builder for $445,000 brand new in the very back of the community on a much smaller lot and close in about the same amount of time as this home but in a location 10x better and will be sought after for years to come!

Priced at only $395,000

Living Room: 15x19
Master Br.: 13x16
Family Room: 21x16
2nd Bedroom: 10x12
Kitchen: 12x16
3rd Bedroom: 10x12
Dinette: 09x10
Dining Room: 12x11
Bonus Room: 10 x 12

Schedule your appointment today to view this one of a kind home in Baldwin Park.

Heather Joubran 407-810-6304 Heather@HeatherTheRealtor.com www.HeatherTheRealtor.com

Lake Mary First Time Home Buyers - Last weeks to get the $8000 tax credit

Wed, 30 Sep 2009 15:51:07 -0500

Lake Mary First Time Home Buyers have you been sitting on the fence thinking about buying, really wanting to buy so you can take advantage of the free $8000 tax credit out there. Well dont sit too much long as the deadline for the tax credit is fast approaching. Many of you know the incentive runs out on November 30, 2009

That's almost 2 months away, I have plenty of time. WRONG! The standard FHA financing deal takes a minimum of 45 days now thanks to Regulation Z. With that being said lets say you put a contract in this weekend October 3 and it's excepted that day. The soonest you could close would be November 18. Phew just 12 days to spare. But wait lets back up a little bit and review dates.

It takes 45 days on average for an FHA loan can take up to 60 days.
A lender cant process your loan application until you have an executed contract (meaning both parties have signed)
Most homes are REO properties or Short sales(dont even go here if you want to close in time) REO's generally have multiple offers and if your offer is accepted it normally takes 2-5 days to hear back and another 2-5 days to get signatures on all documents.
Inspections are done in the first 7-10 days and appraisals in 15 days from execution

With that time line alone if you find a property in just a few short days say by October 3, your offer wont be seen by the seller until October 5, you most likely wouldnt have an executed contract back (granted if your offer is accepted) until October 12. Now your lender can get started and will order the appraisal, you will then have the inspections. Lets pray for a clean inspection and a property that appraises at or above purchase price so no delays there. 45 days takes you to Thursday November 26. Opps it's a Holiday so no one will be around to close your file or even look over the paper work which takes us to Monday, November 30. Last day of the month companies are always slammed, files dont make deadlines, Sellers dont have time to review HUDs and well they push your closing into December. Guess what you are now no longer eligible for the $8000 tax credit.

So yes if you are a First Time Home Buyer looking to get into a home and utilize the $8000 tax credit your time has nearly run out. This is your final weekend to really get into a home. If you are ready to purchase your first home and work with an Area Specialist contact me today and join the other First Time Home Buyers in the Orlando area who have already taken advantage of the first time home buyer $8000 tax credit and have be entered into my Half Million Dollar Challenge

Heather Joubran 407-810-6304 Heather@HeatherTheRealtor.com www.HeatherTheRealtor.com

Lake Mary First Time Home Buyers - Last weeks to get the $8000 tax credit

Wed, 30 Sep 2009 15:47:20 -0500

It takes 45 days on average for an FHA loan can take up to 60 days.
A lender cant process your loan application until you have an executed contract (meaning both parties have signed)
Most homes are REO properties or Short sales(dont even go here if you want to close in time) REO's generally have multiple offers and if your offer is accepted it normally takes 2-5 days to hear back and another 2-5 days to get signatures on all documents.
Inspections are done in the first 7-10 days and appraisals in 15 days from execution

With that time line alone if you find a property in just a few short days say by October 3, your offer wont be seen by the seller until October 5, you most likely wouldnt have an executed contract back (granted if your offer is accepted) until October 12. Now your lender can get started and will order the appraisal, you will have the inspections. Lets for pray for a clean inspection and a property that appraises at or above purchase price so no delays there. 45 days takes you to Thursday November 26. Opps it's a Holiday so no one will be around to close your file or even look over the paper work which takes us to Monday, November 30. Last day of the month companies are always slammed, files dont make deadlines, Sellers dont have time to review HUDs and well they push your closing into December. Guess what you are now no longer eligible for the $8000 tax credit.

So yes if you are a First Time Home Buyer looking to get into a home and utilize the $8000 tax credit your time has nearly run out. This is your final weekend to really get into a home. If you are ready to purchase your first home and work with an Area Specialist contact me today and join the other First Time Home Buyers in the Orlando area who have already taken advantage of the first time home buyer $8000 tax credit and have be entered into my Half Million Dollar Challenge

Heather Joubran 407-810-6304 Heather@HeatherTheRealtor.com www.HeatherTheRealtor.com

HEATHER JOUBRAN EARNS PRESTIGIOUS DESIGNATION TO HELP ORLANDO HOMEOWNERS IN DANGER OF FORECLOSURE

Wed, 30 Sep 2009 15:16:07 -0500

Heather Joubran of RE/MAX Central in Lake Mary, FL has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

In the Orlando area, more than 17,000 homes are in danger of foreclosing. It is happening in all price ranges. Local experts say that even high-priced homes are not immune.

Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as Heather with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.

If you might be facing foreclosure in the Orlando area and don't know where to turn, contact

Heather Joubran at 407-810-6304 or Heather@HeatherTheRealtor.com or go to www.HeatherTheRealtor.com

Lake Mary Homes for Sale - But buyers cant buy them

Sat, 19 Sep 2009 08:28:23 -0500

Lake Mary Homes are for sale, but buyers, especially first time home buyers cannot buy them. Why? Because investors are back in the market. The chosen method of payment for Lake Mary investors is Cash and in this market cash is KING. Many first time home buyers find themselves scrambling to take advantage of the $8000 first time home buyer tax credit, only to be meet with little inventory and heavy competition on those homes, generally beat out by an investor willing to pay cash for the home. Lowering the risk for most bank owned properties.

First Time Home Buyers are frustrated and with the scrabble comes the necessity to make multiple bids on different properties before one sticks. One client of mine had to submit 8 offers before we finally got her the house she wanted and won the deal. Unfortunately I think this created frenzy in the market is a very bad thing. There are many foreclosed homes not in our inventory that were held back because of the moratoriums and to "Not Flood the market" as most experts put it. However what they did was again create a false sense of supply and demand. As we come upon the Holiday season the unspoken moratoriums will be in place lowering our inventory even more.

If you are looking to purchase one of those lake mary homes there are some rules to keep in mind.

Dont submit low ball offers on homes that just come on the market, Go with your highest and best off the bat, you normally only get the one shot
You will need to make you deal look as good to the bank as possible,
Dont ask for closing costs and if you must up your asking price even if it means going over asking, but becareful a too high of an offer and the bank will worry if the home will even appraise an even bigger issue in our market.
Keep your time for inspections very low and dont ask for home warranties or other extras

Remember when buying a Bank owned home you are not buying a BMW off the show room floor you are finding one in the junk yard at a great discount but as-is where-is

Lake Mary Homes are for Sale but how you structure your offer can mean the difference between owning that home and just becoming another offer on that home.

For more information about homes for sale in Lake Mary or maybe you want to know more about being a First Time Home Buyer either way visit Heather The Realtor for the most comprehensive information on the Orlando Real Estate Market

Orlando homes for sale - Investor Paradise - Bank Owned Homes

Wed, 16 Sep 2009 16:02:06 -0500

Orlando Banked Homes for Sale seem to be selling to inventors like hot cakes these days. I have put together a list of Bank Owned Homes that we have forsale that are either new on the market or not yet open to the public, but you will have first opportunity to preview them here.

Homes Not Yet Listed

808 Fruitland Dr Deltona, FL

1312 Fernendina Dr Deltona, FL

515 Howard Dr Orange City, FL

1749 Cunningham Ct St. Cloud, FL

7212 Halton Windermere, FL

4838 Muir Village Orlando, FL

12956 New York Woods Cir Orlando, FL (Auction)

5200 1st Street Orlando FL (Auction)

919 S Solandra Orlando FL

Properties New on the Market

1748 Burnham Ct Clermont FL Priced at $95,000

6800 Ravenna Orlando, FL Priced at $60,000

8502 Dot Lane Orlando, FL (Auction) Priced at $50,000

Vacant Land 255 W4th Street Priced at $22,500

221 Colony Dr Casselberry, FL Priced at $39,900

715 Quail Hollow Dr Orlando, FL Priced at $45,900

986 Turkey Hollow Cir Winter Springs FL Priced at $199,900

530 Hemingway Ct Deland FL Priced at $70,000

State Rd 40 Commercial Vacant Land Priced at $224,500

Pizza Restaurant 1121 New York Ave St. Cloud Priced at $299,900 (includes all equipment)

If you would like additional information on any of these properties please contact me at Heather@HeatherTheRealtor.com or 407 810 6304

Orange County NSP - Homes for Sale in Orlando and Orange County using Down Payment Assistance

Wed, 02 Sep 2009 17:52:19 -0500

Orange County NSP stands for Neighborhood Stabilization Program. The program is designed to help purchase foreclosure properties that might need some rehabilitation and sell them to home buyers using state funds. These homes are then eligible for grant funds from the county to go towards the home buyers down payment. They fall in the same guidelines as the Orange County SHIP.

The program has two options to increase the number of homes for sale in Orange County made available to those buyers needing Down Payment Assistance.

Option A:

These homes will be purchased by the Orange County Government in their designated areas. They will then rehab the homes bringing them up to todays standards and partnered with Progress Energy to bring you Energy Efficient Homes. Then those buyers who are eligible and are represented by a Realtor can purchase one of these properties and receive:

1. 1. 1. 1. Up to $35,000 in Down Payment Assistance
      2. And All buyers closing costs paid for by Orange County (excluding prepaids)

Option B:

Your Realtor helps you identify homes for sale in Orange Counties designated areas. Coordinate the purchase of the property using the NSP funds and 203k rehab funds so you can have the home renovated. A Buyer who utilizies this program will receive:

Up to $35,000 in Down Payment Assistance
And all buyers closing costs paid for by Orange County (excluding prepaids)

Two great programs to help home buyers get into a home. Buyer does not have to be a first time home buyer but cannot currently own a home when using this program.

It's important to have a Realtor who has attended one of Orange Counties NSP training programs. Contact me today if you are interested in purchasing a home for sale in Orange county under the NSP down payment assistance program.

Heather Joubran 407-810-6304 email: Heather@HeatherTheRealtor.com website: www.HeatherTheRealtor.com Twitter: LakeMaryRealtor

Orlando First Time Home Buyers Guide: Part 6 Taking care of your first home

Mon, 24 Aug 2009 21:32:02 -0500

Orlando First Time Home Buyers this is your guide to everything real estate related and where to begin. The first parts of this series discussed if purchasing a home is right for you and how to finance your first home, the second part discussed why you need an Orlando Buyer's Agent. Thirdly went over How to Make an Offer on your First Home and what can go wrong while under contract. Lastly we discussed what happens at the closing table

You are officially a home owner and have successfully moved into your New Orlando Home. A new house isn’t a home until it’s warmed by your personal items. It’s easy to forget that a home is also a house made up of thousands of parts, many of which require maintenance regimen and regular inspection to ensure they are at peak performance, just like your car.

You will want to devote regular attention to home and have proper maintenance at least twice a year, say Spring and Fall. Area's of particular importance are the homes

Air Conditioning units
Plumbing - including your water heater and main shut off valves
The exterior of your home - maintaining shrubs and trees that may touch the roof or exterior walls.
Keep the exterior walls clean and keep the paint up to date.

These are just a few items that should be maintained regularly to ensure the smooth running of your new home. Remember homes dont come with a landlord or a maintenance man these items are your responsibility. However if you had a good Realtor you should have at least a 1 year home warranty that will cover the major items in your home. With the home warranty you simply call the company for $55 they come out and either fix or replace the broken items.

If you are a first time home buyer in Orlando make sure to check out our Half Million Dollar Challenge where you can get up $12,000 free money!

Orlando First Time Home Buyers Guide: Part 5 You've Made it to Closing

Sat, 22 Aug 2009 09:21:40 -0500

Orlando First Time Home Buyers this is your guide to everything real estate related and where to begin. The first parts of this series discussed if purchasing a home is right for you and how to finance your first home, the second part discussed why you need an Orlando Buyer's Agent. Thirdly went over How to Make an Offer on your First Home and what can go wrong while under contract. Now you've made all the hurdles and have arrived at the closing table.

You did it, you worked hard to keep your credit in line, listened to your Orlando Realtor, found the perfect first home and have now made it to the closing table. Those weeks of anticipation finally are at a culmination of hard work. You hear all about this "Closing Table" but what does it mean. When you finally make it to the closing table that means you will be signing all the documents to take title to this property and signing over the agreement that you are accepting a mortgage.

You often times hear horror stories that it takes hours of signing your name and by the end of it all you wont be able to feel your hand. While this was true a few years ago when people had 80/20 loans and had to sign all the documents twice, todays closings are generally handled in under an hour. It's customary for the sellers, their agent, the buyers and their agent plus the title rep to all be at the closing table together signing documents. Sometimes the lender will even show up to verify you fully understand everything you are signing and that they are prepared properly. However with bank owned deals and out of state sellers it will just be the buyers side at the closing table.

At the closing table the documents cant really be changed, if there is something wrong on the document a new package may have to be prepared which can sometimes take hours. However after all the documents are signed by both parties and your mortgage has gone through (they call this funded) you are now the proud owner of your first home and can take possession of the property that day. However on bank owned deals if the seller hasnt already signed the documents and your mortgage hasnt funded you may have to wait a day or two after signing before you get keys to your home.

Going back to my old saying "You cant get excited about a home until the keys are in your hands, well here is when you can become very excited!"

You have reached the end of our series about purchasing a home and are now a successful home owner. We have one last blog coming up for you about after the sale and caring for your home.

If you are a first time home buyer in Orlando make sure to check out our Half Million Dollar Challenge where you can get up $12,000 free money!

Orlando First Time Home Buyers Guide: Part 4 What can go wrong while under contract

Thu, 20 Aug 2009 22:10:26 -0500

Orlando First Time Home Buyers this is your guide to everything real estate related and where to begin. The firs parts of this series discussed if purchasing a home is right for you and how to finance your first home, the second part discussed why you need an Orlando Buyer's Agent. Thirdly went over How to Make an Offer on your First Home. This blog will discuss what can go wrong while under contract.

You worked hard, did your due diligence getting a preapproval, finding the perfect Orlando Buyer's Agent, found the right house and made a good offer on it. Now your under contract and sailing into home base, right? Wrong! There are many issues which can arise while you are under contract on your first home. There are 3 contingencies in a FAR/BAR AS-IS contract that lets you legitimately get out of a contract. 1) Inspections - You can have inspections on this magnificent first home and find out it's riddled with issues, termites, plumbing leaks, old and deteriorating roof you name it. During this time period you have the right to walk away at your sole discretion. This is probably the least surprising and most expected where issues arise. Now lets discuss some other problems.

In today's market Appraisals are a #1 killer of a lot of deals. With the declining market and appraisers under the magnifying glass they have been devaluing property. When a home doesnt appraise that means the bank will not lend you the money above the appraised value. So unless you have or want to pay cash to bridge the difference between the purchase price and appraised value you will need to walk away from the deal or potentially renegotiate with the seller.

Next there are things that you as a buyer can do to hurt your chances of closing on a home a few of those items but not limited too, opening new lines of credit, purchasing large items like appliances, furniture on credit or a new car. Not continuing to pay your bills on time, not filing tax returns this list can go on but while you dont see the big deal the underwriter can kill a deal in the last hour. Meaning you dont get to purchase a home.

There are many issues that can go wrong and this just skims the surface, this is just to make you aware that just because you are under contract does not mean it's smooth sailing. My motto to First time home buyers in Orlando is "You cant get excited until the keys are in your hand."

You now have all the keys of how to successful purchase your first home. In the next blog, I will discuss the closing process.

If you are a first time home buyer in Orlando make sure to check out our Half Million Dollar Challenge where you can get up $12,000 free money!

Orlando First Time Home Buyers Guide: Part 3 How to make an offer on your first home

Tue, 18 Aug 2009 10:09:51 -0500

Orlando First Time Home Buyers this is your guide to everything real estate related and where to begin. The firs parts of this series discussed if purchasing a home is right for you and how to finance your first home, the second part discussed why you need an Orlando Buyer's Agent. This part will discuss how to make an offer on your first home.

Lets retrace our steps, you've come to the conclusion buying is right for you and you have spoken with a lender who has given you a pre-approval letter, you have also chosen your buyer's agent to represent your best interests in a transaction, we have found that perfect house and now it's time to make an offer on that house and hopefully turn it into a home. But what can you do to make your offer stand out.

Your agent will now sit down with you and go over what are known as comps or comparable properties that have recently sold in usually a 1 mile radius around the home for most homes in Central Florida and within the past 3 months. These houses will be as similar to the house you want to purchase as possible. However we all know that generally isnt possible so your agent will make some adjustments to the pricing to make the homes more exact. From here they will arrive at a range value of what the house you want to purchase should appraise for and will discuss with you making the offer. An offer isnt just about price, it's about the terms and conditions as well.

Depending on the type of property you are looking at bank owned, new construction or owner occupied will dictate how you structure the offer. Bank owned homes you will always have to write the offer AS-IS with the right to inspect, the bank is looking for a deal that nets them the most amount of money with the least amount of risk. Next new construction you will always use the builders contracts, here you will be allowed to do a final walk thru prior to taking possession of the home to find any of those nicks, dings or items that might not work and they will fix them. The builder is looking for price and bottom line net to them. They will throw in extra's like appliances, design center options and closing cost incentives but you might pay more of a premium. There is usually some wiggle room when negotiating with builders but not much. Owner occupied properties have emotion involved you have a seller that might have raised their kids in this home or built it with their bare hands, they put a price tag on that emotional attachment even though an appraiser wont. Here we have flexibility with negotiating terms, pricing and having the seller make repairs to the property, however to make your offer stronger in this market consider doing an AS-IS contract. Here's it's important to play up how much love you will give this home and appreciate it the way they did, play to their senses while trying to get the best deal on it.

Once a successful contract has been negotiated the process of buying a home really begins, you will generally have a week to do your home inspections, from there we quickly move into making sure the home will appraise. The lender will become very involved with you at this step gathering all the final documents and sending this information to underwriting to get a final approval on the loan and get you to closing.

By now you should have a better understanding about how to purchase your first home, some of the key players and steps to getting you to your ultimate goal, owning your first home. In the next blog, I will discuss things that can go wrong while your under contract.

If you are a first time home buyer in Orlando make sure to check out our Half Million Dollar Challenge where you can get up $12,000 free money!

Orlando First Time Home Buyers Guide: Part 2 How to choose your Buyer's Agent

Sun, 16 Aug 2009 20:30:16 -0500

Orlando First Time Home Buyers this is your guide on everything real estate related and where to begin. The first part of this series discussed if purchasing a home is right for you and how to finance your first home. This part will discuss how to find the right Orlando Buyer's Agent to represent you.

As a buyer it's important to use the skill and education of a Realtor. Most buyers think they will save money by doing it on their own but that couldnt be furthest from the truth. A buyer's agent costs you nothing, that's right they work for free until you successfully close on your home. The buyer's agent is paid by the seller, whether it be a home owner or builder. A good buyer's agent has negotiation skills to help get you the best deal on your purchase. I have had clients walk into a new construction community have a builders agent tell them if they didnt use a Realtor they would give them a better deal, being educated buyers of mine they knew this wasnt the case. Needless to say I was able to negotiate them a better price on the unit plus a few additional items thrown into the deal. Again regardless of the type of home you want to purchase, For Sale By Owner, for sale through another agent, bank owned or new construction you should always have a buyer's agent to represent your best interests.

With so many Orlando Realtors how do you know which one is right to use and will do the best job for you? Ask for referrals from friends and family, search online and read about the different agents in the Central Florida area. Once you have narrowed it down to a few good Realtors you will want to interview them, whether it's by phone, email or in person, ask them for references from past clients and actually speak with these people. Ask them how much of their business is spent working with Buyers vs. Sellers, How many First Time Home Buyers have they helped and why do they feel qualified to help you, ask them if they know about Down Payment Assistance programs. More importantly you want to see how your personalities mess. This is someone you will spend a lot of time communicating with, you want to make sure they understand your needs.

Orlando First Time Home Buyers do your research and find the right buyers agent.

Have and agent but not happy with their performance and not sure what to do? IF you dont have a buyers agreement you are free to transition to another agent, it's not required but it would be professional to send them an email letting them know that you've found someone else and will no longer require their services. Some agents will take it at that, some agents will beg and some will be upset. If you want to explain why you are choosing someone else take the high road and keep the response strictly professional or simply ignore any further emails.

Hopefully you have a better understanding about how to choose your Orlando's Buyers Agent and why it's important to have one. Next we will discuss making an offer on a property.

If you are a first time home buyer in Orlando make sure to check out our Half Million Dollar Challenge where you can get up $12,000 free money!

Orlando First Time Home Buyers Guide: Part 1 Where do I start

Fri, 14 Aug 2009 17:19:35 -0500

Orlando First Time Home Buyers this is your guide on everything real estate related and where to begin. The media, your friend and family, everyone you know is telling you to stop renting and purchase a home. That the market has never been any better and well it's starting to sink in. You want to purchase a home but just dont know where to start. This series of blogs will guide you through every step of the process and hopefully help answer most of your questions.

Lets start from the very beginning, you have this feeling that it's time to buy but you really dont know how you can tell or where to even begin. First you need to realize that buying a home isnt for everyone and that it might not be the right time for you regardless of what the media tells you. If you have a stable job, plan on living in the same place for at least 5 years and have some money in saving then now might be the time for you to purchase your first home in Orlando. However if the above statements werent true for you it's ok, there's nothing wrong with renting until you are 100% ready to make the leap.

Next, you feel ready, you have 3.5% set aside as a down payment and you know buying is right for you now what, how do I find a home, where do I get a mortgage. I pay $1300 a month in rent what does that get me in a home? My suggestion is finding a top notch Realtor who can guide you through this process. Their first stop will be putting you in touch with a few lenders. (Note: you can do this before finding a Realtor, but I think they go hand in hand.) The lender is going to ask you personal questions like: What is your income? Have you filed your taxes and can you provide proof for the past 2 years? They were will want to see 3-6 months worth of your bank statements, they will also have you fill out an application and provide all your debts and assets, plus SSN so they can run your credit. This is one of the most important steps, here you are laying the foundation of your home purchasing experience, skip this step and the process could fall like a game of Jinga!

Now with all this information in hand the lender is going to review your file with you and discuss what monthly payment you feel comfortable with, explain some of the tax benefits of owning a home versus renting and go over the amount you were approved for based on the information you provided them. This is known as the pre-approval letter. This letter is very important when it's time to look at homes as most sellers will not look at your offer without this letter. Plus it spells out the maximum amount you can afford in a home. Along with this letter you should receive a GFE (Good Faith Estimate) this document will go over the closing costs associated with getting a loan and how much that will cost in addition to down payment. (Dont fret often times we can get the sellers to pay this for you as part of our negotiations.)

Hopefully you have a better understanding about the first step in buying a home in Orlando and what you need to do to build a solid foundation. Next we will discuss where you go from here and how to choose an Orlando's Buyers Agent and why you need one.

If you are a first time home buyer in Orlando make sure to check out our Half Million Dollar Challenge where you can get up $12,000 free money!

Orlando First Time Home Buyers - Half-Million Dollar Challenge - Race to use your $8000 tax credit

Thu, 13 Aug 2009 18:01:48 -0500

Are you a First Time Home Buyer in Orlando or know one? If so you can partake in our Half Million Dollar Challenge, we are setting out to put a half million dollars back into the hands of Orlando First time home buyers! Tell your friends, family, co-workers anyone that is thinking about purchasing their first home about the Half Million Dollar Challenge and this blog. We are down to just a few final months of the $8000 Tax Credit.

So what is this Half-Million Dollar Challenge for Orlando Home Buyers? For every first time home buyer who purchase a home, they can receive up to an $8000 tax credit that means we need to help 63 families close on a home between now and November 30, 2009 to reach our Half-Million Dollar goal! If we reach our goal of helping 63 families close on their first home prior to 11/30/2009 we will be giving one lucky home buyer, chosen at random and extra $4000!

You must purchase a home between August 1, 2009 - November 30, 2009 to qualify for the extra $4000. The extra $4000 will be paid by Heather Joubran and you must use her as your Realtor to qualify for this challenge.

Lets define what an Orlando first time home buyers is in the eyes of the IRS:

First Time Home Buyer: Is someone who has not owned a principle property in the US in the past 3 years

Income Guidelines: Single Person must make less then $75,000 or $150,000 for a married couple

Want to see all the IRS rules on who qualifies for the tax credit, check out the First Time Home Buyer $8000 Tax Credit Guidelines.

If you qualify as a first time home buyer and want to join the Half-Million Dollar Tax Credit Challenge contact my team today to get started towards purchasing your first home and having a chance at a cool $12,000!!!

Email: Heather@HeatherTheRealtor.com

website: www.HeatherTheRealtor.com

Call or Text: 407-810-6304

How to make my offer on a Bank Owned Home Stand Out

Mon, 10 Aug 2009 12:19:19 -0500

Many people ask "How do I make my offer stand out" when purchasing a bank owned home. They realize after making a few offers that low ball offers wont cut it in this market on homes in good condition in location under $200,000.

As an REO listing agent myself here in Orlando, FL I have a few tips to helps those out there struggling to get their offers accepted.

Each bank is different but I find the below information holds pretty true with most the banks that I work with,

Tips for making an offer:

Banks prefer offers with high down payments and low risk of rejection, which makes cash offers king, followed by conventional loans, FHA and then VA loans if no other offers are available.
The do not want to make repairs to the property (If you need that you need to make sure to sweeten the deal for the bank upfront)
The bank is looking for the offer that nets them the most amount of money, however they are looking for low risk as well.(Buyers remember this when asking for closing costs)

Multiple Offer Scenario on an REO property:

An Orlando bank owned property was at $200,000. Buyer A is a cash buyer offering $125,000 as-is, no concessions or contigencies.

Buyer B has a conventional loan, offer price $190,000 with 20% down and no request for closing costs or repairs.

Buyer C has an FHA loan, offer price $205,000 with 3.5% down and closing costs assistance of $5000.

The bank took offer number 2 because while it didnt net them the most out of the buyer is was close to asking and had the least amount of risk that the deal would not close. For the FHA loan to entice the bank to accept their offer either eliminate the need for closing costs or go higher in asking price making the net hard to refuse to the bank.

Are You Thinking About Purchasing an Orlando REO Property?

Mon, 10 Aug 2009 11:15:10 -0500

Are you thinking about purchasing an Orlando REO property? If so, you need to make sure to pack a lot of patience going into this process. While the process of purchasing an Orlando REO property or better know as bank owned real estate is quicker then purchasing a short sale you need patience for another reason, multiple offers. Not just multiple offers on a property you may want, but also the fact that you will probably need to make multiple offers on multiple bank owned properties before one sticks.

As an REO listing agent here in Orlando I can give you a little insight into the process.

First thing to keep in mind is that all banks will require you the buyer to utilize the services of a Realtor. The bank themselves use agents to list their properties and do not have the time to take offers from buyers so they field them through their agents.
Banks will require that you are pre-approved in advanced of writing an offer, if paying cash you will need proof of funds to purchase the property.
You will also have to submit proof of escrow deposit (good faith deposit) typically 1-3% of the purchase price.
In addition to signing a state FAR/BAR AS-IS, you will also need to sign bank addendums/bank contract. Sometimes this document doesnt come until after your offer is accepted. These contracts are generally one sided and limit your rights but cannot be changed. Having a top notch Realtor who has extensive knowledge in the REO field is important to minimize your risk.
Your offer is then generally uploaded through an online submission site and all of the above documentation is required at that time or your offer is generally not looked at.

The offer that nets the bank the most money with the least amount of risk is chosen.

For today's First Time Home Buyers purchasing REO property in Orlando they are running into multiple bids on properties, in this scenario the bank will generally ask all buyers to submit their highest and best offer. Most buyers think they will have the opportunity to counter and go higher and this is not the case, the bank will generally accept the highest and best offer or take the highest and best offer and counter that one, rejecting all the others.

For more question on Orlando Bank Owned properties or how to get started purchasing your first home or maybe first investment property contact me today.

Heather Joubran Call or Text 407-810-6304 email:Heather@heathertherealtor.com www.HeatherTheRealtor.com or follow me on Twitter LakeMaryRealtor

Orlando Bank Owned Homes For Sale - Calling all Investors

Mon, 03 Aug 2009 22:28:00 -0500

Orlando Bank Owned Homes for Sale - These homes are looking for buyers or investors to snatch them up. All of the below properties are Bank owned homes that I have listed and are active on the market. All of the homes are in good or fair condition none of the homes are in complete shambles. Some Move in ready others need a little elbow grease.

The banks want to get these homes sold come make me an offer. All offers are considered!!!

Votaw Rd Apopka, FL $74,900 1,385 sq ft 3/2 1/3 acre

Bon Air Dr Orlando, FL $52,000 1,439 sq ft 4/2.5 1/3 acre

Sunset Palm Dr Apopka, FL $134,900 1,806 sq ft 3/2.5/1 Townhouse

Colony Dr Casselberry, FL $45,000 1,012 sq ft 3/1

Dark Oak Ct Oviedo, FL $315,000 2,708 sq ft 4/3/3 1/3 conservation acre

Keyes Ln, Deltona FL $62,400 1,411 sq ft 3/2

New York Ave St. Cloud, FL $299,900 2,200 sq ft Commercial Restaurant All Equipment/Furniture included.

State Rd 40 Astor FL $249,900 3+ Commercial C-2 Acres Perfect for drive through, car wash, bank

Fosgate Rd Montverde FL $299,000 25.5 acres of buiildable land can easily split into 3 separate parcels. Surrounded by Luxury Equestrian Estates

W 4th St Chuluota, FL $22,499 .26 acres of land minutes from Live Oak Reserve come build your dream home, no HOAs

For more information or to join our mailing list and get the inside scoop on properties before they hit the market simply send us and email with:

Your name

Price Range:

Area of interest:

Any important details of the homes you are looking for:

Email to Heather@HeathertheRealtor.com

Oviedo Bank Owned Home for Sale in Live Oak Reserve

Mon, 03 Aug 2009 22:09:32 -0500

Oviedo Bank Owned Home For Sale in Live Oak Reserve. This stunning estate home is priced to sell. You will be kicking yourself for not jumping on this deal of the year.

Live Oak Reserve is located in Oviedo Florida and zoned for A Rated schools. Live Oak is one of the most sought after communities in the Oviedo area not only for it's location and exquisite homesites but also for it's outstanding amenities. Residents can enjoy a large community pool with water slide, fitness center, tennis courts, basketball courts, sand volley ball, playground and many parks and fields for the kids to play, plus endless sidewalks for jogging and biking.

If you are interested in purchasing a home in Live Oak Reserve look no further then this Bank Owned Home for Sale This home is guaranteed to sell quickly it's well under market value and boasts one of the largest estate lots in the neighborhood.

Dark Oak Ct, Oviedo, FL 32766

2,708 sq ft
Built 2004
4 Bedrooms
3 Bathrooms
3 Car Side Entry Garage
Brick Paved Driveway
Cul-De-Sac
1/3 acre conservation lot
Granite Countertops
42" Maple Cabinets
The list of upgrades goes on, this is not your average bank owned property.

Contact me today for your private tour of this bank owned property in Oviedo, FL Heather Joubran 407-810-6304 Heather@HeathertheRealtor.com