This is Real News on Florida Real Estate with your host Milton Figueroa! I am a Broker Associate with Deconova International Realty in Orlando, and in every episode I bring you news and commentary regarding our market. I discuss what matters in Florida real estate. If you are a buyer, a seller, an investor or real estate professional, this show is for you!
Leading up to the winter season, October 2018 showed great results for the Florida real estate market. We also discuss the outlook for the winter sales season and discuss four mistakes that you should not make when listing your Florida home.
The real estate market is doing well, but there is some concern about an increase in foreclosure activity in Florida and other places. ATTOM Data Solutions reported that foreclosure starts increased in 44% of U.S. markets in July 2018. What does this mean for you?
In this episode we continue the discussion of First Time Home Buyer programs. We know that these programs can help many families succeed in their quest to purchase a home. Two important items for future homeowners are understanding these programs and adhering to their rules to overcome time considerations.
There's a first time for everything and great programs for first timers in real estate. Even if you are not a first-timer, you may be treated like one if you have not owned a property in the past few years. Local governments and private entities have developed great programs to help first-time homebuyers with education and money for their down payment.
An expert asked several real estate agents to share their experiences with the biggest mistakes that buyers make. The agents pointed out five big mistakes, which we discuss in the podcast. Making one of those mistakes can be lethal for your homeownership dreams. Be mindful and avoid them!
Never let your financial past hold you back in your pursuit of homeownership. You may have had financial troubles, and you may not realize it but this may be the right time to pursue the dream of homeownership. In real estate, there's always time to make it right. Listen for an inspirational discussion of second chances and second opportunities to change course.
Statistics are in, and they show that the Florida real estate market is healthy, improving in key areas from a year ago. The latest report from Florida Realtors shows increased sales, higher median prices and more new listings in the second quarter of 2018, all signs of a healthy market. The question is: where do we go from here?
It's a growing trend: For many buyers, putting a ring on a house comes first, and putting a ring on a hand comes later. A report from the National Association of Realtors found that more unmarried couples are putting the ring on the house before they put the ring on the finger.
Buying your new home is one of the most important decisions of your lifetime, and of course, it can be stressful. A survey from Homes.com says that 40% of home buyers think that buying a new home is the most stressful event in modern life. The process may look long and complicated, but there is a great solution for that. Listen, relax, enjoy and own your home today!
RENTCafe.com reports that the national average rent for apartment units reached an all-time high of $1,409 in July 2018. The average in Orlando? It went up 7.7% from July 2017 to July 2018 for the largest percentage increase among the most in-demand cities in the country. This is a powerful reason for you to consider purchasing a home sooner rather than later.
A new report from Redfin via CNBC says that housing demand fell 9.6% in June 2018 as compared to June 2017. Reading beyond the headlines, what this means for the market and you? Is this the start of a crisis or the start of a market correction? Hint: I am in the camp that thinks the market is correcting itself so as to remain in a sustainable growth path and to avoid the unaffordability gap.
You know why it's important to inspect before you buy. Today we discuss when to inspect your home. The timeliness of the home inspection is crucial because most real estate contracts include only a certain time frame to conduct the inspection. If you miss your deadline, you may have to purchase the property with all of its defects or potentially risk losing your earnest money deposit.
Hiring a home inspector will give you peace of mind when buying a home. This step is not required by lenders, but is necessary to help you understand the true condition of the property you are about to purchase. Here's a discussion of why inspecting your new home is a great investment for you.
In today's episode, enjoy a discussion of why the appraisal is so important when buying a home. Hint: it's about the real value and condition of your new home. Another hint: the appraisal is a professional opinion of value goes done by an independent licensed third party.
Size does matter! When buying a home aim for the right size and the right budget, because bigger is not always better. Can't go wrong when buying a home with a 300-gallon shark tank? Well, yes you can. Listen for a fascinating discussion of a story from Tarek El Moussa that reminds us to stay within budget when buying a home. And yes, the Shark Tank can wait.
Foreclosure rates are down nationwide - 78% from their peak, 15% from last year - and Florida is no exception. With an improving economy, distress sales are a smaller part of the market. However, there is still opportunity for real estate investors thanks to better financing options.
The Bad News... it takes renters an average of 6.5 years to save for a 20% down payment. The Good News... the lending industry has developed excellent loan programs so you don't have to! While bringing 20% down to the closing table will save you some money by avoiding PMI, sometimes it's not worth waiting for a 20% down. With rising home prices, delaying your homeownership dreams may be more costly down the road.
Vacation homes are becoming very popular and profitable for investors using the Airbnb model. Owning properties and renting them on a short term basis using Airbnb, VRBO and other platforms can be profitable. There are multiple ways of financing your Airbnb and diversifying your real estate portfolio.
In this episode we explore why you can't let your fears about getting a mortgage be bigger than your home ownership dreams. Never be afraid of making the right choice for your family. Never be afraid of a mortgage.
Home values have gone up, and as a result, homeowners are now sitting on a proverbial pile of cash of over $5.8 billion. Do you have too much home equity sitting around? Well, it's time to tap that! From home improvements to seed money for further investments, your equity may allow you to create additional wealth. There are excellent loan options to make your hard earned equity work for you!
Today we discuss PMI - what it is and how to get rid of it. Remember, PMI is an expense that you pay when you finance over 80% of the value of your home. PMI does not benefit you, but you still pay for it! There are ways to eliminate this cost from your monthly mortgage payment.
Fortnite, Clash Royale, Xbox, Nintendo, PlayStation, PokemonGo fans, Orlando is for you! WalletHub compared the 100 largest U.S. cities across 20 key indicators of gamer-friendliness, from average internet speed to video-game stores per capita to number of esports tournaments. And guess what? Orlando is No. 2 nationwide!
Declare your Independence and get ready to own your own home today! If you are a renter, or if you live with your parents, use this Fourth of July Holiday to get inspired about homeownership. Become the Founding Father or Mother of your own destiny! Just remember that it takes time between your Declaration of Independence and the actual purchase event that makes you independent.
If you are self-employed you must pay special attention to documenting your income when applying for a mortgage. You may make the money, but if your tax returns and bank statements don't show it, then... it's the same thing as not having it. Can't show it? Can't use it! Also, what matters is the bottom line when considering income. Too many deductions from your gross income can disqualify you from purchasing the home of your dreams.
One of the most important aspects of the real estate transaction is closing the deal on time. Here's what happens between the time your lender pre-approves you and the closing date. You will also find tips on how to help your loan officer in the quest for a timely closing and 5 major mistakes to avoid between pre-approval and closing.
Are you a Boomerang Buyer? If you had a bankruptcy, foreclosure, deed in lieu or short sale in the past, you may be ready to come back into the real estate market. You may not have to wait as long as you thought to become a homeowner again. Yes, your new home may be closer than what you think!
Zillow reveals that two out of the top five markets for first-time home buyers are in Florida! Out of the Top 5 Markets for First-Time Homebuyers nationwide, Tampa is #1 and Orlando is #4. If you are a First-Time Homebuyer, we should talk! There are plenty of opportunities available for you in Central Florida. Lenders are expanding their offerings to bridge the gap from renting to owning, with new programs that include little or no down payment.
More people came to the market looking for a mortgage last week. I explain why it matters and why it may be time to consider refinancing your loan. Yes, for some homeowners, it may make sense to refinance! If you are concerned about raising interest rates, it's time to take action amigos!
A survey conducted by the University of Florida shows that consumer sentiment among Floridians increased again in May and is expected to remain high in months to come. This is great news for homebuyers!