Q: Can I get an idea of how much my condo is worth from the Internet?
A: You can certainly get a range of your home's value by searching websites on the Internet, including the homes for sale on Orlando's Best Real Estate Website. A lot of sites offer services that crunch numbers from historic public records of house sales and produce the statistics. Some sites even offer an actual estimate of your house's value based on software appraisals. They rely heavily on historic sales records in the area to calculate the estimate. However, it is impossible for a website or software to factor in the difference in locations, amenities, views, floor plan, and even more important, market conditions. In today's market, it may not matter if your house has a beautiful pool if there are 5 bank owned foreclosures on the same street priced well below market value. If you contact our residential real estate specialists, we can create a custom CMA (Comparitive Market Analysis) for your home or get your free report here.
Q: What are the most common ways of finding out how much my house is worth?
A: A CMA (Comparative Market Analysis) or an appraisal are the most common ways to determine the value of your house. All of our Orlando real estate agents are ready, willing and able to provide a CMA at no cost to you. A CMA is an informal estimate of value based on comparable sales in the homes and subdivisions most comparable to yours. Our CityOfOrlandoHomes.com CMA gives you listing prices of current houses on the market as well as those that have sold in the last 6 months. An appraisal generally costs a few hundred dollars, and is a certified Central Florida Appraiser's opinion of the value of an Orlando property. Appraisers review many of the same factors our Realtors do, including recent comparable sales, location, square feet, and floor plan. Of course, we recommend saving the hundreds of dollars and going with a CMA from one of our trusted Orlando Realtors. Thinking of selling? Obtain your free report and find out how much your home is worth.
Q: How can I determine the value of a distressed property, like a short sale house or bank owned foreclosure home?
A: If you are considering buying a foreclosure home that is bank owned, or a short sale house that reuires lender approval, you need to be very dilligent about acquiring all the information on that home and surrounding area. Some of the information you need to know is how much are the back taxes and homeowner's association fees (monthly HOA fees) due? Is there money owed for utilities like water, title liens, etc... that you want to ensure are paid by the seller at closing? Is the homeowner's association stable, or are increased HOA fees likely? It also is important to thoroughly examine the property. If you are unable to get into a foreclosure property, contact one of our real estate specialists to schedule an appointment to view the foreclosed house. We have access to every foreclosure property on the market.
Q: Are Orlando houses a good investment?
A: Orlando homes in Colonial Town have maintained their value as well as most other areas of Central Florida despite economic downturns and problems and the flood of inventory. Colonial Town Orlando houses have appreciated more over the past to years than homes and townhomes in nearby areas of Orlando. At the same time, changing demographics have made townhouses and condominiums more attractive investments for single home buyers, empty nesters when their children move out, and first-time buyers in expensive markets. Another major factor for house appreciation is location. Many times, the only places to live in the most desirable areas are in the historic homes that can be 70 to 80 years old. For example, in the heart of 32803 Orlando, your only options for a home are very old houses that are on average 80 years old, or the rare home that was tore down to build a new home. Most buyers prefer the amenities and maintenance free living of some of the area's townhouses.
Q: How long will the house buying process take?
A: Once we have an accepted offer, the process to secure a loan, get a home inspection, order and appraisal and survey, and close with the title company generally take 30-45 days.
Q: How much will buying a house in Colonial Town Orlando cost me?
A: Aside from the price of the house, you will only pay your closing costs which generally run about 1.5% of the purchase price. Our real estate services cost the buyers nothing. We are paid by the Seller after the property closes and you move into your new home!