Anne-Marie Ferraro- Seminole County Orlando Florida Realtor

TOP 10 DEFECTS IN HOME INSPECTIONS

2011-10-14T15:32:00.001-04:00

One of my favorite inspectors put a list together of the 10 most common problems discovered found during home inspections. If you are thinking of selling your home a pre-inspection is smart! You can deal with the problems you have before a future buyer beats you up on the list price. Here they are:

Top 10 Defects Per AAA Building & Home Inspection

Roofing leaks, vent pipe's and skylights damaged
Exterior walls, foundation cracks and defective hardboard siding this is a moisture and installation related defect. Common brands of siding are Florida Pacific, Louisiana Pacific, and Masonite
Water damage in attic and uneven insulation
Defective ground fault circuit breaker interrupter outlets in bathrooms, kitchen, garage, and outside
Visible open wire connections in the crawl space and attic
Leaking or loosely mounted toilets, tubs not draining, hot and cold reversed at tub and shower controls
Heating system not function as intended, Mold on coils and filter dirty or missing
Air condition system not cooling proper, missing insulation on freon line and thermostat broken
Fireplace damper not working or fire bricks damaged
Smoke alarms not working or need batteries

Anne-Marie Ferraro, REALTOR®
SHORT SALE SPECIALIST

Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell *** I TEXT***

407-767-5989 Fax
800-943-6444 Ext. 8531
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!"

Check out our website at www.WatsonRealtyCorp.com

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to which it is addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.

3 IMPORTANT THINGS A HOMEOWNER SHOULD KNOW ABOUT SHORT SALES

2011-10-11T15:33:00.001-04:00

Market Value Matters

Short sales sell for market value. That’s right. A bank will typically agree to a short sale if the numbers make sense. Banks understand that homes need to appraise. Banks also need to mitigate their loss.

Listing a home for well below market value is not the best strategy for getting a short sale accepted. Sure, you may get plenty of offers, but if the bank won’t accept any of them you end up having wasted a ton of energy, not to mention paper, and facing quite a few angry potential buyers.

Banks are no longer in the business of giving away houses. If you send the bank numbers that make sense, you increase your likelihood of a successful short sale closing by 90%.

Only Real Hardships Get the Help

I’ve lost count of the number of times potential sellers have told me the only reason they are pursuing a short sale is because everyone else is doing it. Purchasing a house during the housing boom is not a legitimate hardship. Purchasing a house during the housing boom and being unable to pay your mortgage is a hardship.

Strategic default is never a good idea! Banks actually analyze short sale sellers’ hardships, and most center on the economy, so the bank is going to make sure that a short sale is in their own best interest. Acceptable hardships include medical issues, divorce, and disability, significant loss of income, death, unemployment, and relocation.

Laws are local

It’s important to know your state’s foreclosure laws because there are currently no national short sale laws on the books. There are federal guidelines, but they can be applied when and how a bank wants.

States, however, can either have recourse loans or non-recourse loans. A recourse loan allows the bank to demand a borrower pay the difference between what the properties are sold for and what is owed on the lien. Many recourse states allow lien holders (banks) to pursue judgment liens against the borrower for the deficiency amount. This process allows the bank to garnish a borrower’s wages until the debt is paid off. Garnishments can be as much as 25% of non-exempt disposable earnings, and bankruptcy doesn’t always save a defaulted borrower from judgment liens.

Real estate agents are not allowed to practice law, unless they are actually licensed to do so. However, agents do need to be aware of possible penalties for short selling a home and also be able to direct their clients to the right resources to discuss the possible consequences and solutions.

I have been involved in Short Sales since March of 2007. Call me if you need assistance in marketing your home as a short sale.

Anne-Marie Ferraro, REALTOR®
SHORT SALE SPECIALIST

Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell *** I TEXT***

407-767-5989 Fax
800-943-6444 Ext. 8531
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!"

Longwood Homes for Sale!

2011-10-11T15:21:00.001-04:00

If you have a loved one who owns a home in Longwood, Altamonte Springs or any close by city in the Central Florida area that needs help with getting the home sold, call me. I have been in the Central Florida area since July of 1991. I have experience with getting homes sold even in today’s tough market. It makes sense to list your home with an experienced realtor as well as one that lives close by to be able to properly service your loved one.

Anne-Marie Ferraro, REALTOR®
SHORT SALE SPECIALIST

Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell *** I TEXT***

407-767-5989 Fax
800-943-6444 Ext. 8531
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!"

Fall 2011 Market

2011-10-11T15:14:00.001-04:00

Believe it or not, we are still selling houses in this slow market. If you have great credit you could find and interest rate at 3% or below! The combination of that and low purchase prices have truly made this market more affordable than paying rent! What are you waiting for! There are some nice houses out there today! Call me if you are in the Central Florida area or looking to move to the area!

Anne-Marie Ferraro, REALTOR®
SHORT SALE SPECIALIST

Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell *** I TEXT***

407-767-5989 Fax
800-943-6444 Ext. 8531
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!"

Pool Owners: Be Prepared to Pay!

2010-08-17T14:18:00.001-04:00

This is good information on the costs and benefits of having a pool:

The water temperature may be just right, but the cost of buying and operating a pool is scalding.

Anyone who contemplates owning a pool should expect it to cost at least $3,000 a year, or $5,000 if they turn the job of maintaining it over to a pool service, estimates Susan Elser, a certified financial planner in Indianapolis.

Installing a pool along with the required extras like a high fence costs at least $25,000 and probably $50,000 is a better estimate. And in most parts of the country, it isn’t likely that pool owners will get their money back when they sell.

"I question whether it adds anything to the [sale price]," says Ed Rose, a financial planner at Bayside Wealth Management in Pensacola, Fla. "It may contribute something, but you'll never get your money out of it on the resale."

Source: The Wall Street Journal, Brett Arends (08/11/2010)

Anne-Marie Ferraro, REALTOR®
Watson Realty Corp.
1445 West State Road 434, Suite 100
Longwood, FL 32750
407-622-8531 Direct Line
407-493-0719 Cell
800-943-6444 Ext. 131
amferraro@watsonrealtycorp.com
www.anne-marieferraro.com
"You're Home Free With Anne-Marie!"

Deeds-in-Lieu

2010-06-30T15:13:00.000-04:00

Thanks to new federal programs that offer cash incentives, some lenders are turning to deeds-in-lieu as the best solution for underwater borrowers, who are willing to turn over their properties.

It’s cheaper for lenders to do deeds-in-lieu because it gives them overnight control of the property. With mortgage rates at less than 5 percent, lenders believe that they can resell a property faster and on more favorable terms than they would going through a short sale.

Bank of America is offering cash incentives that range from $3,000 to $15,000 to persuade trouble borrowers to sign on.

Deeds-in-lieu don’t harm a borrower's credit rating as much as a foreclosure or a bankruptcy, but because they are treated as debts that are “not paid as agreed,” they do leave a mark.

School Begins August 16th

2010-06-29T11:23:00.001-04:00

School in Florida always starts sometime in August. This year school starts August 16^th.

This year Florida will have the Sales Tax holiday. These have gained in popularity in recent years, in part because of the economy but mostly because everyone wants to get a good deal, and more and more states are starting to get in the fun. I have information on what Florida gives you a tax breakon but if you ever have a question, the employees of the stores know what it applies to.

Florida will be having their tax break holiday on August 13-15. This applies to books, clothing and footwear <$50 and school supplies <$10.

Get out there that week and enjoy a little more change in your pockets!

FORECLOSURES!!!

2010-06-29T10:51:00.001-04:00

WOW! The deals that are out there in today’s market are unbelievable! Just three years ago one of my buyers purchased a 3 bedroom home in a lovely neighborhood in Orlando for $190,000. That was a deal back then! Today, in the same neighborhood there is a 4 bedroom foreclosure for $100,000!!!

Folks! You are missing the boat if you are not out there looking for a home! The inventory is extraordinary!

Short Sales

2010-06-29T10:48:00.000-04:00

Short Sales! Can be considered two of the worst words you have ever heard if you were part of one of these transactions. They are tedious, time-consuming and sometimes just don’t pan out! But, on the flip side, the buyer of one of these homes can find a deal of the century in today’s market! I have been involved in the short sale of both listings and sales since March of 2007. So many of my sellers have been able to get out of the hole and start a new life! My buyers have all bought homes that they never could have dreamed of owning just a few short years ago!

If you are a seller or buyer and would like to know about the process I would be happy to explain.

Disney Luxury Home Plans!

2010-06-24T16:13:00.000-04:00

I was so surprised to hear this announcement on the radio this morning! This is great news for the luxury home buyers out there! Call me if you are interested in this new community! Read this news release!

Walt Disney Co. announced plans Wednesday to develop and sell vacation homes near Orlando’s Walt Disney World. The homes will be priced between $1.5 million and $8 million. In announcing the development, Disney said the luxury home market is recovering.

The proposed 980-acre Golden Oak development will include two golf courses, 450 homes and a 445-room Four Seasons hotel, as well as a clubhouse, pedestrian walkways, and a nature preserve. The first homes are expected to be completed in 2011.

Lots will range from a quarter to three-quarters of an acre. Buyers may choose their own architects, but Disney will supply the builders and require buyers to choose from a limited number of exterior building materials and architectural styles.

Buyers interested in the first lots must deposit $25,000 to be placed on a reservation list.

Source: The Wall Street Journal, Juliet Chung (06/23/2010)

$8,000 Tax Credit is over BUT the deals are out here!

2010-06-17T12:32:00.001-04:00

With the prices of homes today who needs the $8,000 anyway! I am flabbergasted at the purchase price of the homes my buyers have purchased this year! Homes that were once worth a million are selling for under $600.000! Just yesterday I looked through the MLS to discover the deals that are out there. I have a buyer who is relocating to Central Florida soon. He was so surprised when he opened the links I sent to him. He couldn’t believe what he can get for his money! Don’t miss out! Just as the once heated market came crashing down this market will also disappear!

LOWEST INTEREST RATES SINCE 1964!

2010-06-17T12:26:00.001-04:00

Buyers! It is time to come out and buy a home! The inventory is bountiful! The interest rates are the lowest they have been since 1964!!! Take advantage of these low rates now! I am a full time professional who would be happy to help you find a home to live in, an investment home or a second home! Don’t miss out! Who knows when we will see the rates this low again!

Oil Catastrophe in the Gulf!

2010-06-17T12:22:00.001-04:00

It has been two months since the explosion in the gulf. It is a catastrophe for our entire nation but my thoughts are especially with the everyday American family who makes their living from our beautiful gulf. Being a resident of Florida since 1991 I am frightened for what it may do to our state especially. So much of our economy will be greatly affected if we don’t solve this problem now! This will trickle down to our real estate market which is already in a low place. I have seen several people on TV talk about their solutions including actor Kevin Costner. I truly hope that BP and our government really listens to all of the possible solutions so that we can once again have pristine waters and famlies back to work.

Marketing to Sell Your Home!

2010-01-06T20:59:00.002-05:00

So often I come across listings that do not have a virtual tour. How sad that is for the sellers. Over 88% of buyers are on the internet before they call a realtor. Seeing a virtual tour is like going to an Open House without leaving your home! I have found many buyers for my listings just because of the virtual tours. Also, marketing on the internet in general is the way to go! Having a listing in a magazine doesn't neccessarily give the exposure you need. You need a realtor who is going to get it in every possible place on the internet.

Experienced Short Sale REALTOR

2010-01-06T20:56:00.003-05:00

Don't waste your time with someone who is new to short sales. I have been closing these successfully since March of 2007, before the public even knew what a short sale was. If you are looking to list your home and you owe more than what the market shows for value, email me. I will be happy to assist you!

$8,000 FIRST TIME HOMEBUYERS CREDIT!

2010-01-06T20:50:00.003-05:00

Now is the time to buy a home! Mortgages are finally lower than rentals! Investors can come out and buy a home and cover their expenses. It's been a long time since they came out to buy! They extended the credit but you have to act quickly before it expires! Email me for more information. realtorannemarie@gmail.com

FHA LOANS are Back by Popular Demand!

2008-10-14T16:46:00.001-04:00

With today’s strict lending rules the FHA government loan has made a come back. Currently, this loan only requires 3% down payment. Here is what it offers to buyers:

Low down payments
Low closing costs
Easy credit qualifying

Why pay rent when you can purchase a home and probably spend the same amount you would if you were renting? Feel free to contact me for more information on this great alternative to 20% down loans.

Co-Ownership is getting Popular

2008-10-14T16:32:00.000-04:00

Since Down Payment Assistance Programs such as AmeriDream, are gone more and more friends are joining up and buying a home together. If you are thinking of doing this, my advice to you would be to get an attorney. He can draw up the co-ownership papers as well as the particulars on how to get out of a co-owned home.

The scary part of this arrangement is that there is a great potential to have it fail. You really need to know who you are going to do this with. You need to know there finances and they yours. You will need a good loan consultant who will be able to walk you through the process. You need one who will explain the total costs, including taxes and hazard insurance. You will also need a patient realtor who will listen to your needs. I have help out a few friends in the past and all went well but I cannot promise that will always be the case.

Buy Now and Inherit your Homestead for the Entire Year!

2008-10-14T16:20:00.001-04:00

Did you know that if you buy a home that will be your main residence and close on it by mid-night, December 31^st you will get to claim your homestead for the whole year! So many people rush to buy a home at this time of the year so that they can claim their homestead. Homestead can save you a significant amount of money on your home taxes. Call me if you are in the market for a new home by the end of 2008.

COME OUT AND BUY TODAY!

2008-10-14T16:13:00.001-04:00

If you believe everything you hear today, there isn’t any credit available. That’s not true! Tons of banks and mortgage companies have money for loans for homes. It’s the home equity lines and credit to buy cars that’s tight today but if you have good credit and a steady job you can get a home loan!

I work with Watson Realty. We have our own mortgage department. Currently, we have 30 million dollars just waiting to be loaned out for new home buyers!

Come check us out! The houses are priced so well and the inventory is so high that you will have to agree with me that NOW is the time to BUY!

Loan Modifications

2008-10-01T15:45:00.001-04:00

There is help out there for people who are having a hard time making their mortgage payments. Most banks are agreeable to what is known as a Loan Modification. A bank would rather restructure your existing mortgage instead of having you do a short sale or foreclosure.

The loan modification may allow you to take your mortgage payments that are over due and put them at the back of your loan and it may also lower your interest rate.

Call me if you need further explanations. With all that’s going on the bank DOES NOT want to foreclose.

Short Sales in Central Florida

2008-04-25T16:22:00.001-04:00

These are two words that are popping up everywhere you look! Whether you are watching TV or listening to the radio you can’t escape it! How did we get here? Here is my theory:

Back in the frenzy of home sales in 2004 and 2005 there were many people who felt if they didn’t buy a home then that they would never be able to afford a home. People were offering more money than the houses were listed for. This just continued to inflate our market prices. Some buyers should never have been able to qualify for the home they bought but back then mortgage brokers could get someone a home without any kind documentation or proof of income. They also had adjustable arm mortgages. This took many people by surprise when their mortgage adjusted two years later to $400 or $500 more a month! When these people tried to refinance they found that they could not because prices of homes had come down to below what they purchased their house for. When this happens you have people who can no longer afford their homes but cannot pay the bank all monies owed once they do sell. They have to ask their bank if they will be willing to take a short sale. In layman’s term this means that the bank will take less money than owed on the mortgage to satisfy the debt due.

If you have the patience and the time a home that is listed as a short sale could be just want you need. However, the banks are going to require a BPO (Broker’s Price Opinion) before they accept an offer on the home. Most will not give you any money for repair and you could end up waiting three months and find out that the bank won’t work with the offer.

If you have any questions on this feel free to call me!

The Importance of Pre-Approval Letters

2007-06-23T01:20:00.001-04:00

It is really important to have yourself pre-approved for a loan prior to your home search. Savvy sellers and listing agents will not sign your offer unless you have one submitted at the same time of making your offer. It is such an easy process that I am surprised to see so many people just jumping into the house buying arena without first finding out what you can qualify for. Any good realtor will have several mortgage people they can refer you to. Once you know what kind of mortgage payment this will give you based on a Good Faith Estimate, you will be able to start your search for that perfect home with confidence.

Anne-Marie Ferraro, REALTOR
Watson Realty Corp.
1445 West State Road 434
Suite 100
Longwood, FL 32750
407-622-8531
"You're Home Free With Anne-Marie!"

Check out our new website at http://www.watsonrealtycorp.com

This email and any files transmitted with it are confidential and intended exclusively for the use of the individuals or entity to whom they are addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of computer viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.

Good Faith Estimate

2007-06-23T01:12:00.001-04:00

What is a Good Faith Estimate, you ask? It is something that every buyer should get so they will know what their mortgage payment will be. It boggles my mind just how many buyers I have met that just don't ask for this in the early stages of looking for a home. Even if you haven't chosen a home, you can still get a ball park idea of what your monthly payment will be. So many people wait till after they are in contract to find out what their estimate will be. It is never a good thing to buy a house before first asking your mortgage person to provide you with one based on the figures for the property you are thinking of making an offer on. By delaying this you may be setting yourself up for what I call "sticker shock."

You have to consider not just what the numbers on the borrowed sum are but you need to know how much are your home association dues, if any, what are you projected taxes for the coming year and what exactly are the closing costs in the transaction. Save yourself a lot of heart ache and do this in the early stages of the transaction.

Anne-Marie Ferraro, REALTOR
Watson Realty Corp.
1445 West State Road 434
Suite 100
Longwood, FL 32750
407-622-8531
"You're Home Free With Anne-Marie!"

Check out our new website at http://www.watsonrealtycorp.com

Relocating to Central Florida?

2007-02-05T16:48:00.000-05:00

If you are planning on relocating to the Central Florida area I would be happy to assist you in making your transition smooth. If you would like to have the most up to date properties sent to your email address just contact me. I will set you up for a free MLS search for the area that you are thinking of relocating to. I will also mail you a map as well. I relocated to Central Florida in 1991 and have knowledge and experience to assist you in your move.

Anne-Marie Ferraro REALTOR

Watson Realty Corp.

1445 West State Road 434

Suite 100

Longwood, FL 32750

407-622-8531 Direct Line

800-943-6444 Ext. 131

amferraro@watsonrealtycorp.com

You're Home Free With Anne-Marie!

Check out our new website at http://www.watsonrealtycorp.com

This email and any files transmitted with it are confidential and intended exclusively for the use of the individuals or entity to whom they are addressed. If you have received this email in error please delete it and notify the originator of the message. This footer also confirms that this email message has been scanned for the presence of computer viruses and offensive material, but Watson Realty Corp. does not guarantee or accept any liability that may be caused by any viruses.

Seminole County Schools Rank High

2007-02-05T16:22:00.000-05:00

Seminole County continues the trend of having most of the A-rated schools in Central Florida. Families with children generally are concerned about the schools their children will attend. Before they relocate to Central Florida, most families have already done their homework and know where they want to purchase a home. I will provide a school guide for any family that is relocating to Central Florida. Just email me and I will make sure to put one in the mail.

Many people who are relocating ask me for my opinion. I really can’t do that for several reasons. That is why I offer this guide. This guide is what a family needs to be able to make a sound decision. It contains information on both public and private schools.

Anne-Marie Ferraro REALTOR

Watson Realty Corp.

1445 West State Road 434

Suite 100

Longwood, FL 32750

407-622-8531 Direct Line

800-943-6444 Ext. 131

amferraro@watsonrealtycorp.com

You're Home Free With Anne-Marie!

Condo Conversions: Are they worth the investment?

2006-09-06T00:18:00.000-04:00

Condo Conversions have been popping up everywhere in Central Florida in the last two years. I am not so sure it is where I would put my investment dollars. So many of these conversions are just old apartment buildings. Old plumbing, no sound proofing between walls and floors and old problems. My feelings are that if the complex is a newer community, let's say built in 2000 or later, than it may not be a bad investment. But if it is the older buildings I say that you better look into this further before making an offer that you wish you never had. You are inheriting old problems that were once your landlords to deal with. LET THE BUYER BEWARE! How can a proper Sellers Disclosure, a form that is filled out by sellers in which they declare any latent defects, be part of the contract? Remember, the Landlord never occupied the unit. I am not bringing the buyers I work with to these unless they are newer buildings. I interview the sales person to see what upgrades will be part of the offer. If I am not happy with what they tell me I advise the buyer I am with of all the possible pitfalls. BE CAREFUL! Don't let yourself become a victim!

Relocating to Florida

2006-09-02T01:21:00.000-04:00

If you are thinking of making a move to Central Florida be sure to give me a call. I relocated to Central Florida in July of 1991. I have seen a lot of changes since then. I can help you make a smooth transition here. I am very knowledgeable about this area. Making your move a great experience is my goal. I have a relocation kit that I can send your way if you call or email me.

New Hospital Coming To Oviedo

2006-09-02T01:14:00.000-04:00

Finally, a much needed hospital is going to be built in Oviedo. That is a welcome with all the growth that has happened there since 2001. This is great news to the residents of that lovely town. The exact area is yet to be determined but I will let you know just as soon as I find out the location.

Frustrated Sellers in the 2006 Market in Central Florida

2006-09-02T01:00:00.000-04:00

What a difference a year makes! In 2005 we had so many buyers and so few houses for these folks that the prices of homes skyrocketed! This year, we have over 20,000 listings here in Central Florida!!! We are back to old fashion real estate folks! Remember the days when it took awhile to sell your homes? Oftentimes past your 6 month contract! Now we have a 9 month inventory of homes! WHERE DID ALL THE BUYERS GO??? The sellers are still stuck on last years growth and are having a hard time adjusting to the fact that we are now in a Buyers market. By the way, a note to the buyers out there: Sellers are not giving their homes away so don't be ridiculous with your offers. We still have growth here in Seminole County just not at the speed of light! Buyers have so much to pick from they are taking thier time to chose their home. Other buyers are sitting on the fence just not sure what to do! Many buyers are convinced if they wait awhile they will really get a good deal! Ahh, if I only had a crystal ball that really worked!

Termite Inspections

2006-03-21T00:16:00.000-05:00

Whenever you are purchasing a home be sure to have a termite inspection. This is worth every penny you spend on it! Here in Central Florida we have seen many homes eaten up by these nasty pests! There is a myth out here in Florida. The myth states that only wood framed homes are in danger of being infested. That is not true! Son't fall for that. I have seen concrete block homes get termites. You best protection is having a pest inspection company come and check for them and then to do a preventative treatment which should also come with a bond. Termidor seems to be doing a great job and it is the newest approved chemical to prevent the infestation. In Florida it is not a matter of if, it's a matter of when! Protect yourself! Depending on the size of your home and a few other factors it could cost you as little as $90.00. Worth every penny if you ask me!

Importance of Home Inspections

2006-03-21T00:04:00.000-05:00

If you are getting ready to start looking for a home one of the things you want to do after you find the perfect one is have it inspected by a professional Home inspector. This person should be certified either by ASHI or FABI. Inspectors who show that certification are trained to inspect a home properly. When you are getting ready to make one of the biggest investments in your lifetime you need to be sure that you know what you are getting into. Some people want to save the few hundred dollars but I am telling you that it is money well spent! When you are structuring an offer on a property besure to use a contingency clause that will allow you to have the home inspection and that if after the inspections are performed and you are not happy that you can get your earnest money back! PROTECT yourself! A nice looking home by al apperances could be a nightmare waiting to happen! (Remember the movie MONEY PIT? The damages that home sustained we obviously exagerated but the point is well made.)

Apopka's Proposal for New High School

2006-01-30T20:50:00.000-05:00

Apopka is sited for a new High School! This is going to be located in the Piedmont-Wekiva area. This is great news! That area of Central Florida has been booming with new growth and is in much need of a new High School. As a realtor who services this area I am excited to hear this!

2006 Central Florida Real Estate Forecast

2006-01-05T23:37:00.000-05:00

Judging from all of the recent Real Estate publications, this year is still going to be a great year for real estate. However, it will not be the VERY HOT market it was in 2005. We have seen a cooling off since late September. We have more inventory than we have had in a long time. Houses are staying on the market for longer periods of time. Buyers may actually have a chance to chose a house they love rather than just grabbing whatever was on the market. This is good news for FULL SERVICE REALTORS. The times of Discount Brokers and For Sale By Owner are not so good. More and more we are seeing the Discount Brokers having the Seller put their house in the Multiple Listing System so that Realtors can show then to their customers. This is good for both the Buyer and Seller. The Seller has more exposure and the Buyer has more choices! This is also a good time for Buyers because they may actually be able to negotiate a purchase price. I love it because I think this will shake out the realtors who were just in it for a fast buck! That's good news for the consumer as well as us serious realtors. PROFESSIONALISM will be back in full force!

Say NO to Pre-Payment Penalties!

2005-11-17T21:49:00.000-05:00

Did you know that many of the mortgage companies will charge you a pre-payment penalty if you decide to pay off your mortgage sooner then the time period allowed? Did you know that this is a penalty imposed when refinancing as well? Don't let this happen to you! Make sure that your loan person or broker makes it clear that you do not have one. Many times people do not find out until they get to the closing table. It's too late then unless you want to walk away and then you will have the sellers looking to sue you for the escrow money. One way or another,you lose! Here is an example: Joe Smoe has a $6,000.00 pre-payment penalty if he pays off his mortgage before three years. Now you and I know not many people wil have the capability of paying thier mortage that quickly but what you may not know is that you will be charged the penalty even if you want to refinance the loan. So if Joe needs cash a year after he secured the mortgage and he decides to refinance he will have to pay that pre-payment penalty. The exception to this is that sometimes if you refinance with the same bank or mortgage company they will remove the penalty. Be sure to talk with your realtor and make sure that he or she knows that you are not interested in a pre-payment penalty. Check with a few mortgage people to see if their company utilizes one. It is a lot of money to lose!

Why you NEED a Realtor.

2005-11-07T00:05:00.000-05:00

It is so important to find an experienced Realtor when you are looking to buy or sell a home. When you are looking to buy a home your realtor is there to help represent you thru the entire process. A good realtor knows how to decipher your wants and needs. He or she is there to protect you. They will assist you in writing your offer. They will be there for your home inspection and termite inspection or any inspection that the home may require. They will help you when you have hard decisions to make. They will guide you thru the mortgage process along with your mortgage representative. They will help you with the utility information neccessary to transfer your name to them. If you are looking to sell your home you need a competant Realtor who work their hardest to get you the highest price in the quickest amount of time. They will be invaluable to you. They will help negotiate your offers and they will be there for your inspections. You want to be sure that you are hiring a full time professional. You know the adage that you get what you pay for? For this very reason it is good to look for a full service, no baloney kind of company instead of the discount, sales gimmick companies. Utilizing the services of an honest realtor is a FREE service to buyers. The sellers pay the professional fees. Why would you ever want to "go it alone?"

Save Tax Dollars with Florida's Homestead

2005-10-25T23:36:00.000-04:00

Anne-Marie Ferraro- Orlando Area Realtor October 25, 2005 Florida residents: Did you know that Florida is one of the few states in our country that has a homestead exemption? What is it you ask? It is a tax savings on the home that you live in and claim to be your homestead. It could save you a lot of money on your taxes each year. It deducts $25,000.00 from the value of your home so you are taxed on a lower figure. Did you know if you close and occupy your homestead by December 31, 2005 you will be able to claim the homestead for the full year? It's a good reason to look for a home now if you were thinking of the possibility of a move.

Compare Mortgage Rates!

2005-10-25T23:20:00.000-04:00

October 25, 2005 So many times the Buyers I work with tell me they have a "friend" or "family" member who is a mortgage broker and that they are going to use them to obtain their loan. Please! It pays to shop around! Oftentimes there are junk fees and charges that these brokers charge and unfortuantely, it is not until we are at the closing table that I find out. It's too late then to find out you have just been ripped off! My advise, shop around! For instance, I have a Loan Originator who has an office in the same building that I am in. When the Buyers I am working with counsel him he almost always beats out the competitor with rates and pricing. It's free and you owe no obligation so why not get a couple of different quotes? It could save you thousands!