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By James Williams | Agent in Kissimmee, FL
  • I’m offering too much for this House?

    Posted Under: Home Buying in Kissimmee, Foreclosure in Kissimmee, Investment Properties in Kissimmee  |  September 4, 2013 10:01 AM  |  543 views  |  No comments

    Kissimmee, FL

    Osceola County FL


    Working with a REALTOR whom has good knowledge on strategy concepts, and the appropriate skill set to help you determine the best offering price is very important?  There is a lot to consider when making this decision.  Not only are there normal factors that one considers when determining the price that they would pay, but also in the end it comes down to condition of the property and location. 


    In today’s market, one has to stay competitive to beat the rest.

    This particular market in Osceola County, FL is large part a seller’s market today; therefore, too many requests can derail one’s chances in succeeding.  The average sold to original list ratio is 97.88%.  So, you can see there is very little wiggle room.  However, there are many variables that can affect your final offering price, work closely with your REALTOR in order to help you determine the best price.


    If you are looking to buy or sell then select an Agent who has local knowledge, process expertise, fast responsiveness, and good negotiation skills select James, III @ RE/MAX Premier Properties, 321-402-6261, jameswilliamsiii@me.com, www.MyHomesInKissimmee.com     


  • Buyer Purchasing Tips in Kissimmee, FL to Buying a Home

    Posted Under: Home Buying in Kissimmee, Investment Properties in Kissimmee, Military Movers in Kissimmee  |  September 3, 2013 11:05 AM  |  536 views  |  No comments


    Purchasing Power


    Financing—if you are financing it’s very important for you to have your pre-approval letter before you start physically viewing Homes.  This will ensure that are spending your time wisely; and a REALTOR will be able to help you better in the process. A pre-approval letter should be provided to your REALTOR; it’s needed to submit with potential offers.


    Cash—if you are purchasing with Cash then it’s important to determine how much you are willing to spend.  Get a letter drafted from your banking representative on their letterhead to support your cash purchasing power or just provide a copy of your bank statement holding the cash (Caution: ensure account number is blocked out; try your best to get a drafted letter).


    Plan Escrow Deposit


    So you are serious about purchasing right? Well, in today’s market it’s very important to plan an escrow deposit of at least 3% or more when financing; and at least 5% or more with Cash.  Plan to wire these funds to an escrow title agent’s company if your offer is accepted. Prepare to wire funds; it’s the safest and fastest way to ensure compliance to the terms and conditions of a contract.


    Get a Home Inspection


    General Inspection

    Get a Home Inspection to help you determine the status of the Home.  You need to know exactly what you are getting into before settling. I encourage you to find an inspector who uses an infrared camera to look through walls to help you determine any defects needing correction; I’ve found this very helpful during Home Inspections.


    Termite Inspection

    This is a separate inspection; ensure to get it because you definitely want to know your vulnerability to these pests.  Inquire if the current homeowner has a termite bond, and ask if it’s transferable and how much.  If no Termite bond exists then consider purchasing one to protect your home from termites.


    Home Warranty

    Added protection and a peace of mind is given when you purchase a Home warranty, undoubtedly you settle on the property then something happens that was unforeseeable, and this is where a home warranty comes in to save the day.



    Purchase a Survey


    Know the boundaries of your property.  Purchase a boundary survey, so you know where your limits are on your property as well as to ensure knowledge of the existing encumbrances on the property.


    Prepare for Closing


    A plan needs to be devise for closing.  You need to ensure that you attend closing or arrange for a mobile closer for each party that needs to sign. 


    Review the Title Commitment; correct errors.


    Review the HUD-1which is a financial summary of the transaction.


    If there were any cash needed from you for closing then prepare to wire the remaining funds.


    If you are looking to buy or sell then select an Agent who has local knowledge, process expertise, fast responsiveness, and good negotiation skills select James, III @ RE/MAX Premier Properties, 321-402-6261, jameswilliamsiii@me.com, www.MyHomesInKissimmee.com     


  • Canadians See U.S. Home Bargains Slipping Away

    Posted Under: Home Buying in Kissimmee, Foreclosure in Kissimmee, Investment Properties in Kissimmee  |  August 18, 2012 7:00 PM  |  894 views  |  No comments

    Canadians See U.S. Home Bargains Slipping Away


    Canadians have had a big appetite for U.S. properties in recent years while housing values in many markets across the U.S. took a tumble. But now as many housing markets pick up, bargain-hunting Canadians see opportunities closing and are rushing to take advantage of investment or getaway properties before these properties inch even higher, CBC News in Canada reports. 

    Canadians account for 24 percent of foreign home buyers in the U.S. — the largest share — and Canadian buyers account for more than double the rate they did in 2007, according to data from the National Association of REALTORS®. 

    “As the U.S. market tanked over the past couple of years, some Canadian buyers took advantage of an especially fortuitous confluence of events — a dollar that had moved up to par, deeply-discounted asking prices, and little competition from an economically battered U.S. populace,” CBC News reports. “Many Canadians who bought in the U.S. even a few months ago are starting to see a return on the investment, but those who are still contemplating a purchase need to tread carefully.”

    But with falling inventories in the U.S. and rebounding home prices, Canadians are seeing the bargains slipping away, particularly in the two states where they tend to be the most active — Arizona and Florida. 

    Canadians are finding themselves in more multiple-bid situations in these recovering states and paying more than what they would have a few months ago. Still, many Canadians are finding they have an advantage: Many American home buyers continue to struggle to obtain financing due to banks’ tightened underwriting standards, while many Canadians are making all-cash offers for homes to win multiple-bid situations.

    Source: “Canadian Buyers Face More Competition as U.S. Housing Recovers,” CBC News (Aug. 16, 2012)

  • 7 Essential Key Elements to follow when purchasing a Home

    Posted Under: Home Buying in Kissimmee, Foreclosure in Kissimmee, Investment Properties in Kissimmee  |  July 14, 2012 3:08 PM  |  360 views  |  No comments

    7 Essential Key Elements to follow when purchasing a Home

    Buying a Home can be a complex process; however, working with a REALTOR who knows the process is essential.  Buying a home is a process; you cannot just start looking at homes and hope for the best.  Here are some steps to take to get it right.

    1. Get Preapproved with a mortgage broker or lender of your choice.  This will enable you to know your limitations which in the end will help you create your criteria in a home.

    2. Become familiar with the Sales Contract, and all the addendum’s that may need to be submitted with it because when you do find the home that you want; act fast.  The market is very competitive today; and mulling over a decision can cost you the success of your dream home.

    3.  Multiple Offers may occur; therefore, be ready.  Have a back up sales price that you are willing to offer on the property that you are interested in this is normally known as your highest and best offer for the property.

    4. Get an Inspection.  Ensure that you have a nice competitive timeframe to conduct your home inspection which usually is 5 days to be very competitive.  Keep in mind that after inspection is completed you have the authority to withdraw from a transaction if the inspection turns up too many repairs that you are unwilling to complete after purchase.

    5. Next hurdle in the process…getting the Appraisal.  If you are financing; you have to get an appraisal.  Therefore, be very conscious of the offer amount that you submit because the Home must appraise in order for the bank to loan you funds or you must bring the difference to closing.  In addition, it is a best practice to submit an appraisal contingency with your offer.  If you are purchasing with Cash then no worries; you can decide how much that you want to pay for the property.

    6. Make no new purchases until after closing if you are financing as well as do not co-sign for anyone in lieu of a financial obligation.  This will definitely kill your deal.

    7.  Close the deal; ensure that you have valid I.D. and all parties that are needed to close with the right documentation refer to your REALTOR.

    These essential elements are very important to the transaction; please take heed to this advice.  You will be successful when you follow it directly.  Search for homes in Central Florida @ http://jameswilliamsiii.remax.com 

  • ‘Dead’ listings get new life

    Posted Under: Home Buying in Kissimmee, Home Selling in Kissimmee, Investment Properties in Kissimmee  |  July 12, 2012 9:02 PM  |  363 views  |  No comments
    ‘Dead’ listings get new life

    WASHINGTON – July 5, 2012 – The big drop in inventories of homes for-sale helps once-expired listings finally get sold. Many sellers find that relisting their properties now affords more luck now than a few months ago, real estate professionals report.

    Nationwide inventories of single-family homes, condos, townhouses and co-ops has fallen about 20 percent in the last year, according to Realtor.com, and inventories are at some of the lowest levels ever observed. Meanwhile, more buyers are coming off the sidelines to take advantage of record-low mortgage rates and low prices. The new buyers, however, find fewer properties to choose from.

    Some real estate agents are focusing their efforts on expired listings and convincing sellers that they can give them a successful second chance at making a sale. In Atlanta, one broker, who realized the value of expired listings, offered 25 iPads to the real estate agents who brought expired listings from competitors.

    “Think about this ... every single listing is now twice as prominent and important as it would have been back in the day of 100,000 available listings,” broker Ann Bone told RISMedia. “Each listing today is worth two listings two years ago.”

    Many real estate professionals take a listing for a limited time and, if it doesn’t sell, it expires. Some MLSs require that expired listings stay off the market for at least 90 days to prevent agents from continually relisting properties and hiding the actual length of time it has been on the market.

    A few agents even report that they’ve had some luck taking expired listings and selling them within five days. But others caution it’s not as easy as just relisting the property. Many expired listings may have flaws that have held them back in the first place – such as not priced right for the market or not in the right condition – that should be fixed before they return to the market.

    Source: “Dead Listings Live Again in Tight Markets,” RISMedia (June 27, 2012)

    © Copyright 2012 INFORMATION, INC. Bethesda, MD (301) 215-4688

  • Optimism about economy stalling despite confidence in housing market

    Posted Under: Home Buying in Kissimmee, Foreclosure in Kissimmee, Investment Properties in Kissimmee  |  July 12, 2012 8:49 PM  |  240 views  |  No comments
    Optimism about economy stalling despite confidence in housing market

    WASHINGTON – July 10, 2012 – Housing market confidence among Americans continues to trend in a positive direction despite stalling optimism about the economy and personal finances, according to results from Fannie Mae’s June 2012 National Housing Survey.

    Flatter economic trends may contribute to waning consumer expectations about personal finances. Nevertheless, Americans’ continued positive outlook about housing appears to remain buoyed by low house prices and interest rates at historically low levels.

    “While consumers remain cautious about the general economy, their attitudes toward the housing market continue to improve,” said Doug Duncan, senior vice president and chief economist of Fannie Mae. “Although this positive trend may be short-lived if the general economy falters, one might ask whether consumers are increasingly seeing the current environment as a unique opportunity to buy a home while home prices remain depressed, rental costs are increasing, and interest rates are near historic lows.”

    Respondents expect home prices to increase 2 percent in the next year, on average, and 35 percent of Americans say that home prices will go up in the next twelve months (the highest level recorded since the survey began in June 2010). In turn, the share of consumers who say they would buy if they were going to move increased by 6 percentage points this month (the highest level seen in the survey’s two-year history).

    At the same time, 36 percent of Americans think the economy is on the right track (down 2 percentage points since May) and 57 percent think the economy is on the wrong track (up 1 percentage point). The percentage of respondents who expect their financial situation to remain the same over the next year dropped by 4 percentage points from last month to 42 percent, while only 18 percent say their household income has improved (also down 4 percentage points).

    Highlights: Homeownership and renting

    • Average home price expectation hit 2.0 percent this month, a 0.6 percent increase from May and the highest value recorded since the survey began in June 2010.

    • Thirty-five percent of respondents say that home prices will go up in the next 12 months, the highest level recorded since the survey’s inception.

    • Thirty-seven percent of those surveyed think mortgage rates will go up in the next 12 months, a 4 percentage point decrease from last month.

    • The percentage who say it is a good time to buy increased slightly to 73 percent, matching the highest level recorded since the survey began two years ago, while the percentage who think it is a good time to sell remained at 15 percent.

    • On average, respondents expect home rental prices to increase by 4.0 percent over the next 12 months, generally steady since May.

    • Forty-eight percent of respondents think that home rental prices will go up in the next 12 months, while 5 percent think they will go down.

    • Sixty-nine percent of respondents said that they would buy if they were going to move, a 6 percentage point increase from last month and the highest level recorded since the survey’s inception.

    • The percentage of respondents who would rent decreased from 32 percent to 27 percent, the lowest number to date.

    Highlights: The economy and household finances

    • The upward trend of confidence that the economy is on the right track stalled this month, leveling at 36 percent.

    • The percentage of respondents who expect their personal financial situation to stay the same over the next 12 months decreased by 4 percentage points to 42 percent, while those who expect their situation to get better steadied at 43 percent.

    • Eighteen percent of respondents say their household income is significantly higher than it was 12 months ago, a 4 percentage point decrease and the lowest value seen since November 2011.

    • Household expenses remained stable this month, with 55 percent reporting that their expenses stayed about the same as they were 12 months ago.

    © 2012 Florida Realtors®

  • Real estate market is picking up, but foreclosures expected to surge

    Posted Under: Home Buying in Kissimmee, Foreclosure in Kissimmee, Investment Properties in Kissimmee  |  April 6, 2012 5:02 PM  |  329 views  |  No comments
    Real estate market is picking up, but foreclosures expected to surge

    GARFIELD HEIGHTS, Ohio – April 5, 2012 – Even as real estate sales are picking up across most of the country, a painful second act of the housing slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.

    “We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010,” said Mark Seifert, executive director of Empowering & Strengthening Ohio’s People (ESOP), a counseling group with 10 offices in Ohio. “Last year was an anomaly, and not in a good way.”

    In 2011, the “robo-signing” scandal, in which foreclosure documents were signed without properly reviewing individual cases, prompted banks to hold back on new foreclosures pending a settlement.

    Five major banks eventually struck that settlement with 49 states in February. Signs are growing that the pace of foreclosures is picking up again, something housing experts predict will again weigh on home prices before any sustained recovery can occur.

    Mortgage servicing provider Lender Processing Services reported in early March that U.S. foreclosure starts jumped 28 percent in January.

    More conclusive national data are not yet available. But watchdog group 4closurefraud.org, which helped uncover the “robo-signing” scandal, says it has turned up evidence of a large rise in new foreclosures between March 1 and 24 by three big banks in Palm Beach County in Florida, one of the states hit hardest by the housing crash.

    Although foreclosure starts were 50 percent or more lower than for the same period in 2010, those begun by Deutsche Bank were up 47 percent from 2011. Those of Wells Fargo’s rose 68 percent, and Bank of America’s, including BAC Home Loans Servicing, jumped nearly seven-fold – 251 starts vs. 37 in the same period in 2011. Bank of America said it does not comment on data provided by other sources. Wells Fargo and Deutsche Bank did not comment.

    According to Moody’s Analytics, sales of repossessed properties probably will rise 25 percent this year from 1 million in 2011, Bloomberg News reported. Prices for the foreclosed homes could drop as much as 10 percent because they deteriorated as they were held in reserve during the investigations by state officials resolved in February, according to online foreclosure marketplace RealtyTrac. That month, 43 percent of foreclosures were delinquent for two or more years, from a 21 percent share in 2010, according to Lender Processing Services.

    “The longer a foreclosed home is in the mill, the bigger the losses,” Todd Sherer, who manages distressed mortgage investments for Dalton Investments, a Los Angeles-based hedge fund, said in an interview with Bloomberg News. “We have a bulge of these properties coming through the system.”

    Real estate company Zillow expects the resurgence in foreclosures this year, combined with excess inventory of unsold, bank-owned homes will contribute to a 3.7 percent national decline in prices before the market hits bottom in 2013 and stays there until 2016.

    Copyright © 2012 washingtonpost.com; Nick Carey, Reuters.

    Related Topics: Foreclosures

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