Archive

Posts Tagged ‘Central Florida Homes for sale’

Orlando real estate – Timing Is Everything: When And How To Move

March 22nd, 2008 No comments

Timing Is Everything: When And How To Move

In the next few months making a move can become increasingly more complicated say industry experts.

“June to September is really known as the high season for the moving industry,” says John Bisney, Director of Public Relations for the American Moving and Storage Association (AMSA).

It’s a popular time because kids are out of school and people are trying to get the move done before the children have to return to class.

“So if you can avoid moving during June to September you’re probably going to get better service and have more options,” Bisney.

However, Bisney says, “If you do have to move between June to September, then it’s better to move in the middle of the month and the middle of the week as opposed to doing it at the end of the month when everybody wants to do it.”

AMSA certifies movers and holds them accountable to higher standards and a code of ethics. The association says most people don’t take moving very seriously and they assume that everything will go alright. But Bisney says careful consideration is a must when moving.

“Because people don’t move that many times, maybe it’s their first move, or maybe it’s been a few years since their last move, they will treat it as a less important decision than it needs to be given the fact that [movers] are going to have custody, at least temporarily, of all their belongings,” says Bisney.

So, if you’re gearing up for the big move, AMSA has some advice to simplify and ensure a smooth process. I spoke with Bisney about the top five consumer moving tips.

The most important thing to do is to start with a good foundation. Just like the purchase or sale of your home should involve experts who have your best interest in mind, hiring movers also requires thorough investigation of all your options.

“It really comes down to do a little bit of your own homework to make sure you’re getting the best deal and that you’re dealing with the right people,” says Bisney.

Start by calling a few service companies. Bisney says consumers should be wary of over-the-phone and Internet estimates. “Get three written in-home estimates and when you do that, make sure you show the mover everything including anything in the attic, the basement, the garage, storage areas, etc. Typically two of the three estimates will be pretty close in price, in weight, and in service,” explains Bisney. He adds, “We say to avoid movers who have unusually high or low bids; that might be a red flag.”

Another important tip is to be cautious of any carriers or movers that are asking for a big down payment to either hold a date or reserve service. It’s not that a down payment is uncommon in the industry rather it is how much money is being requested that could be a warning that something isn’t right. “There’s nothing wrong with asking for a reasonable small down payment just in case you cancel on them last minute. But it should not be hundreds of dollars,” says Bisney.

“The moving business can be a very complex business and it has its own jargon,” says Bisney. That’s why making sure you ask plenty of questions. Don’t leave things to chance. If you feel the moving company isn’t being straight-forward with you then consider another option. Get all the details and information up front because you never know when you’ll need to reach the company and the driver.

Make sure the movers have your cell number because you might be in transit too. It’s good to have the drivers full name, and truck number that way you can call the company if something changes with your plans.

Take your valuables with you. Cash, important papers, jewelry, medications–anything that you really would never want anything to happen to should be taken with you or sent ahead with a traceable service carrier.

Where you are moving to also affects what you need to know. AMSA says if you’re moving from one state to another be sure to get and read the required Inter-state shipment booklets/documents. Inter-state shipments are regulated by the Federal Motor Carrier Administration which has more regulations than for an Intra-state move.

Finally, know who you’re dealing with and be sure you have investigated the company’s reputation. This can be the most challenging thing to do for consumers who are frequently in a hurry and often leave moving details to the last minute.

A good way to find out more about a company is to go through associations such as AMSA. “We set certain standards and by being a member of our association, they have agreed to abide by them,” says Bisney. While policing the entire 3,700 members isn’t possible, Bisney says the association does its best to keep track of how its members are conducting business.

“We offer a certified moving consultant credential that means that you adhere to certain ethical conduct and that you represent fundamental competency in terms of moving household goods,” explains Bisney.

Movers go through an application process, pass a certification exam, sign a code of conduct, pay annual dues to the association, and are required to participate in an annual re-certification process to keep their certification status.

Making a move doesn’t have to be a headache if you take some time to plan ahead. So while you’re home is sitting on the market, don’t fret about when it’s going to sell, instead do your due diligence and get ready for the big move.

Share

Orlando Real Estate – Will my mortgage insurance cover the difference if I default on my loan

March 21st, 2008 No comments

If I pay mortgage insurance and default on my loan, why wouldn’t that cover the deficiency amount?

The mortgage insurance is not there for your protection, just the lender’s. If you are paying PMI (private mortgage insurance) it is there to protect the lender in case you default on your loan. You can usually get the PMI removed after you have enough equity in the home. The lenders will not remove this for you. It is your responsibility to get this removed. Afterall, why do you want to be paying PMI if you don’t have to. It doesn’t protect you, it protects the lender.

For more information on PMI, contact me. If you are a first time buyer, please contact me and we’ll set up a buyers consultation to discuss buying a home.

Money House

About the author:

Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit http://www.jerrysellsorlando.com/ for your real estate needs. Please give me a call if you have questions about the Orlando and Central Florida real estate market.

Jerry LaRose, P.A., ABR, GRI, e-PRO, CLHMS, REALTOR® 407-580-7011

(Copyright © 2008 By Jerry LaRose, P.A. All Rights Reserved.)

Share

Orlando Real Estate, Windermere Fl. – ATTENTION SELLERS: Is your home easy to show?

March 18th, 2008 No comments

If your home is on the market, you better make it easy for buyers to see!

I was showing homes yesterday and I had problems showing 3 of the 7 homes I was to show my buyers.

At the first home, the home owner was there and unaware of the showing. I guess the realtor never told them. (It’s never a good idea to have the home owner at home when the buyers are there.) The whole situation was awkward and the buyers just rushed through the home.

At the second home, there was a combination lock box on the home. When I opened it up, there was no key inside……how am I suppose to get into the house? I am sure the home owner removed the key. With combination lock boxes, home owners can open them……actually, in my opinion; they are completely unsafe because ANYONE can open them. With electronic lock boxes, you have to have a special key to open.

Finally, at the third home, there were two dogs barking and running around inside. I can’t bring my buyers inside this home with the dogs loose.

How is a buyer supposed to write an offer on your home if it’s difficult for them to see it? All my homes on the market are on an electronic lock box and showings are scheduled through my call center. Call me to make sure your home is getting shown properly.

ar120488812087769.jpg

About the author:  Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of real estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit www.JerrySellsOrlando.com for your real estate needs.  Please give me a call if you have questions about the Orlando and Central Florida real estate market.Jerry LaRose, P.A., ABR, GRI, e-PRO, CLHMS, REALTOR® 407-580-7011(Copyright © 2008 By Jerry LaRose, P.A. All Rights Reserved.)

Share

Orlando Florida., Windermere FL., Winter Garden FL. Real Estate – Is 40 the New 30?

March 13th, 2008 No comments

balance_small1.jpgForty year mortgages can reduce your monthly mortgage payment, but is that enough to offset the extra cost of tacking 10 more years onto the conventional 30-year mortgage?

The question is probably too simplistic, says Dan Green, a mortgage planning specialist at Mobium Mortgage in Chicago.

He says loan products like the 40-year mortgage are deemed risky because they are viewed in a vacuum, without considering the needs of the individual borrower or without comparing their benefits with other mortgages.

“It’s not the loan that is risky, it’s the behavior of the person paying the loan,” is the advice he offers in his treatise on home loans longer than 30 years.

The draw of a 40-year mortgage is its relatively lower payment — compared to a 30-year loan — due to stretching out the amortization schedule over a longer period of time.

That could be attractive to those in high-cost housing areas, those who can’t qualify for a 30-year mortgage payment or for those who want to qualify for a larger home. Longer term loans are also beneficial for people who don’t plan on moving for a long time.

But here’s the rub, not only will you pay more over the life of the loan for a 40-year mortgage, the higher interest rate on a 40-year mortgage bites into some of the expected monthly savings.

According to LendingTree.com the rate on a 40 year mortgage could be 0.25 percent to 0.375 percent higher than the rate on a 30.

So let’s do the math on a $250,000 mortgage, at 6 percent for a 30 year mortgage and 6.25 percent for the 40, using Nolo.com’s “How much will my fixed rate mortgage payment be?” calculator.

The interest and principal payment on the 30-year loan would be $1,498.88 with a total of $539,593.37 paid over the life of the loan.

For the 40-year mortgage, the payment would be, $1,419.35 with a total of $681,285.85 paid over the life of the loan.

That’s less than $100 savings each month in exchange for more than $140,000 in extra cost over the life of the loan.

Also consider the fact that the principal is not paid down on a 40 as fast as it is on a 30, toss in a market with flat or falling home values and homeowners with a 40 year mortgage could really feel a pinch instead of relief.

Or so the theory goes.

“These arguments are all based on a single tenet — that paying down a principal balance is a good thing. That’s not always true,” says Green.

Green says the more a homeowner invests in the home, the smaller the return because the cash-in investment isn’t generating the return. It’s the home’s value that grows — market permitting.

The 40-year mortgage behaves somewhat like a no- or low-down mortgage in terms of using more leverage and leverage is the tool investors use to play the game, for good reason.

You get the same level of market-based equity growth with a 30-year, 40-year or even 15-year mortgage. With a 40-year mortgage it’s just that you get that equity growth at a smaller monthly cost. Greater leverage.

Most people move or refinance within five to seven years and the low monthly payment could work from them in the right market. Given home equity growth historically shows up during a 10 year housing cycle, but not for the entire cycle, timing is important.

The 40-year mortgage can be a good fit if for those at an early stage in their career. It can allow them buy a home they might not otherwise be able to afford. Later during the next equity-growth cycle they can sell and buy anew sell or refinance with the next appropriate financing tool.

A 40-year mortgage can also be advantageous for high-income earners whose mortgage interest payments may be their only large income tax deduction. And it can be used by vacation rental owners to reduce carrying costs.

Other mortgages can perform the same high-leverage trick, provided you can qualify for them, provided they are a risk-fit for your financial status and planning and provided the market cooperates.

The key, says Green, is running all the numbers, both the cost-comparisons of mortgages along with your financial goals, planned tenure in the home and lifestyle.

“New loan products like the 40-year mortgage are not dangerous to everyone. They are only dangerous to homeowners who operate without a financial plan,” says Green.

Share

Orlando Real Estate – Why to Buy Now!

March 12th, 2008 No comments

p>Don’t wait too long to buy a home in today’s market?

While today’s market plays to your advantage as a buyer, with reduced housing costs and favorable interest rates, are you sitting by waiting?

When the market turns, today’s bargains will be yesterday’s missed opportunities.

While it is conceivable that home prices may drop further, it is likely that the decreased prices will be accompanied by increased financing costs due to rate cuts by the Fed. This means that any money saved on paying less for a house in a few months time will be offset by having to pay off your mortgage at a higher interest rate making “playing the waiting game” a waste of time (and very little fun).

This rate increase isn’t just speculation. Just a couple of weeks ago, in early February, the fixed mortgage rate jumped a full half-percent, making it the fastest rate increase in 20 years.

The table below demonstrates how even as home prices may drop, monthly mortgage payments basically stay the same; due to increased interest rates:

Scenario 1:
Prices decrease by 5% and interest rates increase by 0.5%

Scenario 2:
Prices decrease by 10% and interest rates increase by 1.0%

Today

Scenario 1

Scenario 2

Home Price

$218, 900

Home Price: -5%

$207,955

Home Price: -10%

$197,010

Interest Rates

6.04%

Interest Rates: +0.5%

6.54%

Interest Rates: +1.0%

7.04%

Monthly Payment

$1,054

Monthly Payment

$1,056

Monthly Payment

$1,053

Table: Kadlec, Dan. “Ignore the Headlines!” Time 25 February 2008

Why should you spend months in a situation that you want out of when you can begin your new lives in your new home today, with less interest?

Share

Windermere Florida Real Estate – Lakes of Windermere home for sale

March 10th, 2008 No comments

Orlando Real Estate Home for sale – lakes of windermere

March 10th, 2008 No comments
This site is protected by WP-CopyRightPro

Orlando Real Estate Voice, Short Sale Expert & Specialist is Stephen Fry proof thanks to caching by WP Super Cache