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Home Buying in Metro West : Real Estate Advice

  • All71
  • Local Info11
  • Home Buying20
  • Home Selling1
  • Market Conditions6

Activity 17
Tue May 19, 2015
Ramon Morales answered:
Hi Ricia,

I hope all is well. Usually when you see things like this happening, its because the sellers are either doing a FSBO and think their home is worth more than it actually is, or because they have a seller's agent that can't convey to them the true market value of a home.

If you have any other questions, call me at 407.517.8693

Thanks,

Ramon
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0 votes 6 answers Share Flag
Mon Apr 21, 2014
Margus Mahar answered:
Hi Ava,

Thank you for your inquiry. Last year I averaged 8% discount overall. It was a great year for me.

Each deal is different. If you telling me that this house is truly COMP'ed at $660,000 (meaning they do not have any significant upgrades to bring this home value up) and they are asking for $720,000 - these sellers may have unrealistic expectations. What I do at this case is create a thorough market analysis and offer the average less 6%-8% (depending on the deal).

Let's say this home is worth $660K - I would offer around $600K and provide a thorough explanation.

Ava, I would gladly discuss it in further detail - please feel free to call (321-388-6856) me (unless of course you are already working with a Realtor).

Sincerely,

Margus Mahar, RealtorĀ®
Specializing in Luxury and Investment Properties
- Certified 203K Renovation Specialist
- Advanced Construction Expert (ACE)
- Dream Team Professional TM
www.FLhomedeal.com
J.C. Penny Realty, LLC.
8701 W Irlo Bronson Memorial Hwy, Suite 200
Kissimmee, FL 34747
Phone: 321-388-6856
Email: margus@jcpennyrealty.com
Skype: margus.mahar
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0 votes 16 answers Share Flag
Sun Apr 20, 2014
Carolyn Bird answered:
HI Marcos, I would love to help you in your search. I have worked in the Orlando real estate market for over 15 years. Please send me an email with more details about what you are looking for.
Thanks
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0 votes 2 answers Share Flag
Thu Apr 18, 2013
Carol Bauza answered:
Hi plung88,

Vincent is right.
Between 8-10% would be a great investment.

Carol Bauza
Charles Rutenberg Realty
carol@carolshome.com
1 vote 3 answers Share Flag
Thu Mar 21, 2013
Donald Johnson answered:
Earnest Money Deposit (EMD) is just what it says. It is simply something of value indicating you are making an offer in "Earnest". What that amount is depends on the seller and buyer. It could be $1 or $100,000.

There is no legal requirement as to how much one needs to use. It is a form of goodwill for performance, so in essence it could be a Picaso or a car (that is why the Contract has an "other" section). There may be holding requirements for these other deposit types.

So the answer is that it is a subjective and completely negotiable matter.

Now an agents involvement with a deposit has laws of containment in the handling, but is also a broker by broker decision as to whether they choose to hold escrows.

I do not hold escrows in account so my instructions are for delivery within the lawful timelines to the agreed upon title company.

Escrow disputes account for most agent discipline actions with the FREC.

I included a State Of Florida DBPR document in PDF form that has many rules covered below.

Don Johnson
Broker/Owner
Permitted Real Estate School Instructor

MORE Realty Services LLC
Lic. Real Estate Broker
407-462-4992
http://MoreRealtyServices.com
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0 votes 12 answers Share Flag
Thu Oct 25, 2012
Rich Homer answered:
Best to engage a local Real Estate Broker right away by clicking "Find a Pro" in the green menu bar above. http://www.naplesrealestateguys.com/
1 vote 2 answers Share Flag
Sat Apr 14, 2012
Joe Oz Real Estate Group answered:
There is a big advantage to paying cash. A cash buyer does not have a mortgage contingency and will be able to close much sooner than someone obtaining financing. The deal can close immediately after ordering the title.

A seller should take your offer very seriously and may be willing to discount the home further due to your cash offer.

Your Friend,

Joseph "Joe Oz" Ossichak III
NJAR Circle of Excellence 2009, 2010, 2011
Real Estate Consultant
RE/MAX - The Real Estate Leaders
107 Tindall Road - Executive Suites
MIDDLETOWN, NJ 07748
cell: 732.773.3108
Office: 732.933.0200 x 307
E-Mail: JoeOz@YourFriendJoeOz.com
Website: www.YourFriendJoeOz.com

DOWNLOAD MY FREE REAL ESTATE APP:
Text: JOEOZ to: 87778
Search all MLS listings and view prices, square footage, taxes, features, maps, pictures and more! The "Call" feature will connect you to me if you have questions.
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1 vote 18 answers Share Flag
Fri Feb 17, 2012
Condo Metropolis answered:
I don't think that math is realistic. We have several condos in MetroWest that we have helped our investors purchase and now manage for them... you can pick up a 2/2 with a tenant in place for about $69K but that will only get you about $850 a month in rent. The real upside on these deals is when you sell them in 3-5 years for hopefully a lot more than you paid. ... more
0 votes 4 answers Share Flag
Sat Jan 22, 2011
Jeramie Vaine answered:
Jane,

Beautiful place, furnished maybe ok depending on the tenants however I did run the numbers. In this business its all about the markets latest trends. Metrowest in general is a hot rental area however beacuse of the large amount of competetion you need to price aggresively. So with that being said there are 31, 2 bed, 2 bath condos, town homes and villas for rent in Metrowest. Average rental price is around $800, the real numbers is the rented and leased price. In the last 12 months your average rent is between $800 - $900 per month. The closer you get to $800 the quicker it rents. So I am not sure how much value furnished ads but those were the unfurnished numbers.

You may want to explore the options of corporate if you are going furnished. Also another thing is if you use a Realtor or Property Manager your marketing increase tremendously.

Hope this helps, best of luck!

Jeramie Vaine
jvaine1@gmail.com
978.870.9429
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0 votes 8 answers Share Flag
Sun Dec 5, 2010
Mark LeMenager answered:
Hi Knut,

First, you are not going to get a decent single family house near the theme parks for under $100,000, but there are plenty of very good condos and townhouses available in this price range. Let me suggest that you check out:

Blue Heron Beach Resort
Caribe Cove
Club Cortile
Vista Cay
Oakwater
Runaway Beach Club
Tuscana
Venetian Bay
Regal Palms
Seven Dwarfs
Windsor/Wyndham Palms
Worldquest Resort

All these places could have what you are after. Let me know if you'd like to go see a few palces when you are here and, most importantly, enjoy your holiday.

Good luck,
Mark LeMenager
Find your next house with the click of a mouse.
Search the MLS without obligation or registration from my website.
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1 vote 11 answers Share Flag
Mon Nov 29, 2010
Connie Greene answered:
I have emailed you a list of properties available in this area as I specialize in Metro West have a look and let me know which ones you have questions on or want to see?
0 votes 5 answers Share Flag
Sat Nov 20, 2010
Condo Metropolis answered:
Did you ever find anything? See our new MetroWest site below for more info.
0 votes 5 answers Share Flag
Thu Sep 30, 2010
answered:
Aug02,

First let's review what you're working with.

Your items in favor of a loan: 1. You have a down payment; 2. Your credit score and, 3. You can prove your rental history.

Now the risks - 1. Your income is derived from the co-borrower's business; 2. You're a 1099 employee; 3. Fiance's credit.

It's difficult to ascertain whether you may be eligible to for a loan because, while we look at the items above, we also consider other factors. For instance, since your fiance is self employed, we will review his tax returns for the last two years to determine income stability. Taking into account the type of business, we will analyze his deductions, cash flow and the bottom line - adjusted gross income after all deductions are taken, etc.

If he does not deduct any federal or state taxes from your wages, then you are considered a 1099 employee or "self employed". As such, we need to review your tax returns for the last 2 yrs tax returns to determine the stability of your income, etc. Hopefully, you have kept your paystubs to document your wages.

Unfortunately, I cannot give you a definitive answer without reviewing your documentation and speaking with you both. Feel free to contact me at the number below or via email - I would be glad to discuss your options and develop a plan of action to get you both on the path to homeownership.

Hope this helps,

JACQUELINE CLARKE
Freedom Mortgage
1600 East Robinson Street, Ste. 250
Orlando, FL 32803
Cell: 407-591-7693
Email: jacqueline.clarke@freedommortgage.com
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0 votes 5 answers Share Flag
Sat May 1, 2010
Jennifer Tyre answered:
It is a hotel room, but you own it!! It can go into the hotels rental pool so when you are not using it you have some rent coming in. I have a client who purchased two in there. They are nicely furnished, have a kitchen, dining area, living area, bathroom and then one bedroom (some have two double beds or one king). He has been very happy with the purchase. It has been rented out consistently and he has used it this winter and plans on coming back this summer.

Let me know if I can help answer anyother questions!!

Best Wishes,
Jennifer Tyre, Broker
Realty and Company International, LLC
407.999.5060
... more
1 vote 2 answers Share Flag
Sat Feb 20, 2010
Michael Turner answered:
My girlfriend and I have lived her almost 2 years and I must say it's been 2 years too long. We moved here from PA and thought the place was great at first then all of a sudden we were told there would be construction on all the apartment buildings. Construction is ok but when they come in tear your windows out, put up plastic walls that are see through and walk around all day half inside your apartment doing construction for several months the noise gets old really fast. We had no notice of this when we signed the lease so unfortunately for our landlord we were let out of lease.

We decided to give them another chance by moving into another apartment which the construction was already finished. Well shortly after we moved into here the owners from upstairs decided they would start their own construction of the unit. We moved in here in January, it is now November and they are still doing the construction daily. I have to literally yell at them to stop or call the office or security.

I can honestly say if you move here you will not have a peaceful month, let alone week in your apartment. Between all the do it yourselfers doing construction on their own places and apartment maintenance doing so-called "checks" of damage, fire safety, etc you will not have peace. Oh and if you aren't home they don't care they tell you they better have a copy of your keys or they will charge you to replace the locks.

I could go on and on about this place but basically what it boils down to is.....STAY AWAY!!!! They don't respect your privacy or peace even if you pay $1150 a month for rent. We are moving as soon as our lease is up!
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0 votes 11 answers Share Flag
Wed Jul 1, 2009
Melissa Antenucci answered:
There are a few stated loan programs but you are going to need to put about 30% down with a convential lender. You can also go hard money or see if you can find a house with owner financing. ... more
0 votes 3 answers Share Flag
Tue Aug 12, 2008
Margie Hundsrucker answered:
Marisa I can help you find out out. Email me where you would like to live.
orlandohomesbymargie.com
0 votes 3 answers Share Flag
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