Real Estate News - September, 2019

What Happens During Due Diligence?

If you’re in the process of buying a home, you may hear the term “due diligence period.” This is one of the most important parts of the home-buying process. It’s the time period where you can back out of the contract without losing your earnest money or incurring any other type of penalty.

While your Windermere, FL, real estate agent will be able to answer any of your questions about due diligence, it does help to have an idea of what this process is all about.

When Does Due Diligence Happen?

The due diligence period traditionally begins when all of the parties involved have signed the contract. This makes the contract binding and indicates that both the buyers and the sellers of homes for sale in Windermere, FL agree to its terms.

It is…

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Central Florida Real Estate News September 2019

ORLANDO MEDIAN PRICE GAINS WHILE INVENTORY DROPS AND SALES HOLD STEADY

Orlando’s housing market in August saw both its largest increase (+9%) in year-over-year median price and its first inventory decline (-2%) in 2019. Sales were up a tiny fraction (+0.1) compared to August 2018.

“Orlando’s ongoing challenge with the lower-price range categories, which have solid demand and insufficient supply, is consequently pushing up home prices,” says Orlando Regional REALTOR® Association President Jeffrey M. Fagan, Watson Realty Corp. “In addition, while our local economic indicators — particularly very favorable interest rates — point toward a housing strong market, low supply that leaves first-time homebuyers with few options is restraining sales up the…

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Should You Fix Your House or Should You Sell?

With the fall season upon us, change is in the air. For many families, children are growing up and moving out of the house, maybe leaving for college or taking a jump into the working world. Parents are finding themselves as empty nesters for the first time. The question inevitably arises: is it finally time to downsize?

If you’re pondering that thought, you may also be wondering if you should fix-up your house before you sell it, or go straight to the market as-is, allowing a potential buyer to do the updates and remodeling. If you’re one of the many homeowners this camp, here are a few tips to help you decide which way to go.

1. Analyze Your Market

A real estate professional can help you to understand your market and the potential level of…

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What Is an Open House?

Open houses have long been a traditional part of selling a home. If you look at many of the homes for sale in Clermont, FL, you’ll likely see that a number of them have open houses scheduled.

These open houses are traditionally a time for interested buyers to drop in, visit with your real estate agent, and view the house. It was a way of getting a good number of potential buyers into the house without scheduling multiple private viewings.

But considering how many other parts of the home-selling process have changed thanks to new technology, you may wonder if an open house is necessary or if it has changed any over the last decade or so.

Benefits of an Open House

Open houses may not be as prevalent as they once were, but they are still happening.…

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When Is the Appraisal Done When Buying a Home?

For sellers, they might find themselves asking, “What's my home worth?”. This can inform them of their listing price.

Buyers also want to know what a home is worth before buying it, which is why an appraisal is important.  Although it’s not theirs at the time of appraisal, if all goes well, it will be soon.

Here’s the rundown of the home buying process and what the appraisers do.

A Breakdown of the Homebuying Process

Deciding the right home for you is a big step, and it’s a complex project involving many tasks. Most buyers get connected to an agent to help them, and a majority of agent relationships begin through word-of-mouth referrals.

From there, the steps tend to follow this list:

1. Work with a Lender

Get connected to a lender and…

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3 Detrimental Mistakes Sellers Make When Pricing Their Home

There are lots of ways to make a mistake in selling a home. It’s a complex project and not one to be done by just anyone.

Of all the homes for sale in Davenport, FL, it’s inevitable that some homeowners have tried to price their own home. Here are some of the biggest mistakes, so you can avoid them when it’s time to sell your home.

1. Not getting professional advice

There are lots of ways to sell a house, but working with an agent ensures the smoothest process. However, today, some sellers are choosing For Sale by Owner (FSBO) or working an online “iBuyers” because they think it’ll get them the best price.

FSBO is something a few folks believe they can do to save some money but they’re forced to answer questions that only professionals can…

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What Information Should I Disclose to Potential Homebuyers?

Caveat emptor is Latin for ‘may he beware” and applies to the sale of real estate property in most states. It’s sometimes referred to as “buyer beware”. This is not legal advice, and you should consult an attorney if you have concerns after reading this. However, from a seller’s perspective this is what should be disclosed in the homes for sale in Winter Garden, FL.

If In Doubt, Share

As a general rule, if you ask “should this be disclosed?”, it probably should. While disclosure might put the sale of the property in question, it’s better than concealing the information and having it revealed in a lawsuit later. You never want to have a conversation that starts out “But, Your Honor”, do you?

Most buyers will hire a home inspector if they are concerned…

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