Relocating to Orlando Florida

Let me help you relocate to Orlando

Let me help you relocate to Orlando

Regardless of whether you get a new job, your employer is asking you to relocate, or you want to move to a place that you dreamed of for a long time, moving is not easy. Relocating to a new city comes with a mixture of feelings: optimism for new beginnings but uncertainty of the unknown.

When you move to a new city there are so many things that you have to research:

 

• Where will I live?
• Will I be able to have a short commute to my job?
• Where will my kids go to school? Does the school system have a good reputation?
• What are the neighborhoods like? What part of town?
• What is the weather like
• What is there to do in the new city besides work?

If you are relocating to Orlando, Florida whether a short trip or across the country I am here to help you navigate through the stressful relocation process when moving to a new city.

Please visit my website http://www.OrlandoTinaRealtor.com for a FREE Orlando Florida relocation package.

You can reach me, Tina Israelson, anytime via cell phone 407-414-9718. It will be my pleasure to assist you with your Orlando real estate market needs, make your move as stress free as possible, and find the home that is right for you and your family.

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Four types of loans when buying a home

When buying a home the loan type that you choose matters

When buying a home the loan type that you choose matters

When buying a home, you need to find out which type of loan works best for you and your situation.

Mortgage loans have a reputation for being complicated, and since many people assume they won’t understand the details, they don’t even try. Beware, this can cost you money and it’s not hard to learn a few basic facts. Here’s a simple breakdown of four loan types to help you choose the one that’s right for you.

General Knowledge – Loans come in 15, 20 or 30 year contracts. The faster you pay off your loan, the higher the monthly payments will be. Conversely, if you extend the length of your loan, you’ll have smaller monthly payments, but will accrue more interest.

• Fixed Rate Loans
A fixed rate loan allows you to lock in at a low rate of interest, and keep that rate for the life of the mortgage. This type of loan is advantageous when rates are low.

• Adjustable Rate Loans
With an adjustable rate loan, the payments will rise and fall depending on the current interest rate. There is a limit to how high the rate can go, and to how many times your rate can be raised. This type of loan is beneficial if you are buying when fixed rates are high, or when you expect your income to grow in the future.

• Balloon Mortgages
A balloon mortgage offers low-interest rates for short periods of time —usually three to seven years. Payments go toward interest only, so the principal is not reduced. Many people opt for this type of loan if they are planning to resell in a few years.

• Government-backed Loans
Sponsored by agencies like the Federal Housing Administration or the Department of Veterans Affairs these loans offer special terms for qualified borrowers. Benefits often include lower down payments or reduced interest rates.

Variations in interest rates, loan amounts, and terms can have a significant effect on your monthly payment.

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5 Ways to Derail Your Home Loan

5 Ways to Derail Your Home Loan

5 Ways to Derail Your Home Loan

Let’s say you’ve spent a lot of time getting approved for a home loan, and now your efforts have paid off.

Is this the time to relax and go back to your carefree financial ways? No, no, a thousand times no. Once you’ve got your loan approval, don’t do anything to jeopardize your good standing.
1. Don’t apply for new credit: Rushing to the home improvement store and applying for a line of credit is a natural reaction when your loan is approved. Don’t do this. Applying for any new credit can lower your credit score. A lender may worry you’ll run up a large balance then default on their loan.
2. Don’t close any credit accounts: While you may feel like getting your financial house in order, this is not the time to close out unused credit cards. While this is ultimately a smart financial move, wait until later to make it. Right now it’s in your best interest to have a higher card to the debt ratio.
3. Don’t skip a payment or make a late payment: Don’t get so caught up in your packing and moving plans that you forget to pay your bills. History of on-time and in-full payments is an important element of your credit score.
4. Don’t buy a car: You may feel that a new car would be an attractive addition to your new driveway. Resist that feeling. Even if you can easily afford a new car, this is not the time to reduce your savings. Your lender may do final check on your cash reserves so you want to make sure you have some.
5. Don’t change jobs if you can help it: Your lender needs to verify employment and will need pay stubs to prove your income before your loan can go to settlement.

Remember, your lender will recheck your credit just prior to your settlement date. Don’t do anything to change their good opinion of you.

 

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The resale value of your home

Eagle-creek-home

Curb appeal matters

When considering a new home, it’s important to look down the road to the time you’ll need to sell it. No one knows what life will bring, and while you love the house would like to spend a lifetime there, that may not be the case.

Assessing the resale value of a home is crucial when purchasing the home and while it’s hard to predict what will appeal to potential buyers, there are some central themes that you should keep in mind.

Location – This is huge factor in the value of a home. Most home buyers look for a central location close to shopping, schools and medical facilities. It’s also good to be close major roads and highways, but not too close. Another plus is convenient access to public transportation.
Floor Plan – An important factor in a home’s value is the layout. Typical home buyers are seeking three to four bedrooms, with bathrooms on each floor and one in the master bedroom. Lots of closet space is also desirable, as are home offices and bonus rooms. The biggest consideration is the kitchen. Is it open and well planned, light and clean? The kitchen is the most expensive area to remodel, so buyers look for homes with well-appointed existing kitchens.
View – You may love the industrial view from your potential home’s living room, but while the bleak and gritty atmosphere is the perfect inspiration for your Gothic poetry, the next person might see a depressing collection of smokestacks. Of course you want a home that fits your personality, but if you’re ever going to resell it, you’ll want to stay somewhat inside the box.
Curb Appeal –This factor has a big effect on the decision to buy a piece of property. Appearance matters. Once you purchase a home, you’ll need to keep up the yard and paint job. Replace sagging gutters, and take down the Christmas decorations before they begin to fade in the sun. Your home doesn’t have to be the shining star of the neighborhood, but you’ll want to make it look inviting from the street.

With these facts in mind – when the job transfer comes through, or the triplets are born and you need relocate, you can successfully resell your home by calling me, Tina Israelson, your committed Realtor.

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Think of size when purchasing a home

Home size matters

Home size matters

Buying the biggest house you can afford may not be in your best interest. Bigger is not always better, but too small can cramp your style. There are a few things to keep in mind when considering the size of your next Orlando home.

Budget
Here’s where a good mortgage broker and real estate agent come in handy. They can advise you on how much to set aside for mortgage payments. Are you considering starting a family? Your expenses will increase at that point. Leave yourself some wiggle room.

Resale Value
Why is this house such a deal in the first place? Could it be that a two bedroom, 1.5 baths doesn’t sell well in this neighborhood of large families? While it may be perfect for you now, you’ll want to look down the road and judge whether you’ll be able to sell it when the time comes.

Lifestyle
Maybe you’re a writer and your partner is the drummer in a rock band. If your hobbies clash, an office or bonus room might be in order. What if you’re a fan of Chinese takeout and don’t know your stove from your refrigerator – do you really need that chef’s quality kitchen?

The Great Outdoors
A sweeping lawn or garden with a white picket fence may loom large in your dream home. But in reality, will you have the time and interest to maintain it? If not, can you afford to have someone else mow and hoe?

Back to the Future
What’s the plan for this place? Are you adopting a pot belly pig, or having a mother-in –law move in? (Be careful not to confuse the two.) What’s your ten-year plan? Will this property expand and adapt to your changing lifestyle?

For answers to questions like these and many others, check with me, Tina Israelson, Orlando Realtor. I have been a realtor for 13 years, and I can help you find the perfect home.

 

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Five Reasons to Buy a Home

Home Sweet Home

Reasons for buying a home

John is a 26 –year-old civil engineer, who lives in Orlando with his wife and their young daughter. He has a stable job and won’t be transferred soon. Though he’s happy with his apartment, he’d like a place for his family to call their own. Lately he’s been wondering – Should I invest in a home?

If you, like John are contemplating this question, we have some answers.

1. Equity – When you buy a home you get something real. Instead of wasting money on rent each month, you’re investing in the future, as well as the present – the equity you’re accruing can turn into cash later, and you can live in your investment now.
2. Tax Breaks – When you’re making mortgage payments, the US tax code lets you deduct the interest.
3. Savings – Making mortgage payments is like having an enforced savings account. When you eventually sell, you can take up to $250,000 (twice that for a married couple) as gain without federal income tax.
4. Appreciation – While there are some fluctuations, the real estate market usually experiences stable growth. Home sales prices have increased 8.85% over the last ten years. There is always a demand for housing.
5. Stability – Living in one neighborhood for several years gives you roots. Neighbors become friends and you have a chance to participate in the community.

This brings us back to John’s original desire – a place to call his own. Owning a home gives you freedom from ever-rising rent and association fees; freedom from white walls and builder grade carpet. When you own a home you’re free to do what you will with it. If you want to remodel, you can. If you want to dig up the back yard and plant a garden, you can do that too. In this house, you are king or queen of the castle, and all decisions are up to you.

If you feel like you’re ready to take the first step toward home ownership, contact me, Tina Israelson, your Orlando real estate agent and I’ll help you get started!

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Buyers be cautious with flipped properties

Be Cautious with Flips

Be Cautious with Flips

When buying a property that was a bank owned or a short sale that was a quick fix and then flipped you need to consider the following:

Anger Issues
Due to the unfortunate circumstances surrounding short sales and foreclosures, the previous homeowners may be leaving under duress. Watching your dream of home ownership go up in smoke tends to bring out the worst in people and some vent their feelings by damaging the property. This damage may, or may not be obvious to the casual observer.

When buyers purchase a remodeled bank owned or short sale property, they need to check them out carefully. Nail holes in walls may have punctured plumbing. Water damage may have caused mold in the walls or under flooring.

Disclosure Rules. These vary from state to state, but here are some basic steps everyone should take to avoid problems.

Sellers – are not immune from making disclosures just because they haven’t lived in the property. If you remodeled or repaired the property after you purchase it, you should know some of the defects because you had to repair them. You must disclose to the buyer as accurately and completely as possible all the known facts about the home via a seller’s disclosure.
The listing agent is required to disclose any information they may have about the property and honestly answer questions of potential buyers.

Buyers – Ask questions like these:
• What was the property’s condition when it was repossessed?
• Are there receipts from licensed contractors to verify the amount of money the seller spent on repairs?
• Is there a list of what was done to correct defective conditions?
• Was there damage that was not repaired?
• Were permits available for the work that was done?

These questions and the answers to them will help you as a buyer to make an informed decision about the properties you might be interested in.

 

 

 

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Making Simultaneous Offers on Multiple Properties

Making multiple offers

Making multiple offers

Living in a hot seller’s market is can be frustrating for home buyers. When you’re going up against aggressive buyers who may even be dealing in cash, it’s easy to feel like you can’t compete.

Many buyers may wonder if making simultaneous offers on several different properties might be the answer, and while this may work to your advantage, there are several factors to keep in mind.

Some people consider the practice of making multiple bids when you only intend to buy one property unethical. Sellers believe you’re making an offer in good faith, and will expect you to follow through on the transaction. Not only that, but in some states simultaneous offers are illegal. Before attempting anything like this, make sure and check with a real estate attorney.

Once you get the go ahead from your attorney, you still have to tread very carefully, or you could end up losing your earnest money deposits.

1. You’ll need to provide separate deposits for each offer. This means an individual check for each deposit and enough money in the bank to cover all of them if you lose control of the situation. (Should you have more than one offer accepted, you may lose the earnest money on the offer you decline.)
2. You can suggest an offer on a contingency basis. In other words say this offer is contingent on whether my other offer is accepted. This would be safer for you, but understand that most sellers won’t work with you under these conditions.
3. Be considerate of sellers and let them know the minute you accept another offer. Timing is crucial here because as soon as a seller signs off on your offer it’s considered a done deal.

In the long run, you’re better off not playing this risky game. Instead, make one solid offer that meets the seller’s needs, and work with a real estate agent who can help you identify perspective homes as soon as they’re listed.

With a little patience and help from me, Tina Israelson, you’ll find the home of your dreams.

Call me when you are ready to buy a home in Greater Orlando area or feel free to visit my website at www.OrlandoTinaRealtor.com. I am ready to go to work for you today!

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Selling Your Longwood Florida Home All Year Round

Selling Your Longwood Home

Selling Your Longwood Home

Traditional wisdom tells us that spring and summer are better seasons to sell a home. As it turns out, this may not be true. While the time of year does affect a home sale, there are advantages to every season. You can sell just as successfully in the fall and winter as in spring and summer.

Pros of Spring and Summer
• People are more inclined to relocate when their children are out of school. Parents hate to disrupt their children’s education and know if they move during school breaks, kids can make friends and get settled before school starts up again.
• It’s easier to move when the weather is pleasant.
• As a seller you don’t have as many national holidays to work around.
Unfortunately, not everyone is able to choose the time of their move. Perhaps you’ve been transferred or have accepted a new job. Maybe you’ve experienced a change in the family dynamics, such as a new baby or the addition of an elderly parent to your household. In some cases you’ll need to sell your home in the in-climate months, and as it turns out it’s not a bad idea after all.

Pros of Fall and Winter
• There’s a lot less competition for the home buyer dollar. Many people believe they should wait until spring to list their home; consequently the winter market isn’t glutted with options.
• You don’t see as many casual shoppers this time of year. The people considering your home are serious buyers – they need a home now and are willing to pay top dollar.
• If you sell when the “snow” flies, you have advantage of holiday decorations to make your home seem warm and welcoming. Decorate your yard and porch with pumpkins or gourds for Halloween and Thanksgiving. During the Christmas season, add lights on the outside, and a tree and ornaments on the inside.

No matter what the season, you can sell your Longwood home. For more tips on selling your Longwood home quick call me, your real estate agent and Longwood resident,Tina Israelson, at 407-414-9718.

Also, feel free to visit my website at www.OrlandoTinaRealtor.com.

 

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Buying Your First Home in Orlando, Florida

Young Couple Moving House

So you’ve been thinking about buying a home in Orlando, and thinking and thinking . . . . In fact, you’ve been thinking for so long, that one place you were interested in sold, and resold, while you considering whether to take the plunge.

For some reason you just can’t make that final decision, but in the meantime you’re wasting money every month on rent.

One of the reasons people have a hard time committing to a mortgage is the fear of the unknown. What if I lose my job, what if I can’t afford it, what if there’s something I don’t like about the house? These are valid questions, but luckily there is a way to address all of them.

What if I lose my job? That’s always a concern when you’re making a big commitment like this. The best thing you can do to prevent this being a problem is to have an emergency fund. Ideally you should set aside six months of mortgage payments. This will give you a comfortable cushion while you secure a new job, and you’ll never have to miss a mortgage payment.

What if I really can’t afford it? Do a test run. Partner with a real estate agent and work out exactly what your projected mortgage payment will be. Don’t forget homeowners insurance, taxes, homeowners’ association dues (if applicable) and upkeep expenses. Then live with your new budget for a few months. This way you’ll know exactly what you’re getting into and won’t have to worry about nasty surprises.

If after the fact, you discover something you don’t like about the house, you can always fix it. Nothing is so wrong that it can’t be set right, and if you’ve worked with a realtor, you’ll find out about any problems before you sign on the dotted line.
The bottom line, is do your research, don’t go into a big purchase like this with blinders on.

You should also have a knowledgeable real estate agent help you when you are ready to buy an Orlando home. A knowledgeable Orlando real estate agent will have information about the area, neighborhoods, homes, home prices and schools. And will make your first home buying experience a breeze.

When you are ready to buy a home in Orlando, call me. You can reach me at 407-414-9718 or via email at 407-414-9718. Also feel free to visit my website at www.orlandotinarealtor.com.

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