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Kissimmee, FL Real Estate News

By Bryant Tutas, Selling Florida one home at a time
(Tutas Towne Realty, Inc and Garden Views Realty, LLC)
Another successful Short Sale approval in Central Florida! Lender: Chase Amount owed: $129,000 Hardship: Loss of income and medical The property was placed on the market on February 14th at $110,000. The price was slowly reduced to $85,000 on April 11th and went pending on April 18th at $87,500. The complete Short Sale Package was submitted to Chase on April 24th. On July 17th we were asked by Chase to reduce the Seller concessions from 6% to 3%. So we rewrote the contract at $84,500 and reduced the Seller concessions. On August 4th the Buyer's appraisal came in at $60,000. We rewrote the contract at $60,000 and submitted to Chase with the appraisal. We received written approval from Chase on September 1st for $60,000. The amount of the "Short" is $77,000 or 60% of the mortgage. No not...
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By Paul Antonelli, Broker Owner; Antonelli Realty
(Antonelli Realty)
The OAKS         For re-sales in the last 60 days there have been 4 homes sold.  The average price per square foot is $73 up from the $63 a month ago. Out of the 23 homes currently active on the MLS today 12 are Short Sales and only 1 is a Foreclosure. The rest are simply over priced. OAK HAMMOCK PRESERVE  For re-sales in the last 60 days there has been 5 sales, all Foreclosures, or did you guess that already.  The average price per square foot is at a low $58. . Out of the 13 homes currently active on the MLS today there are 9 short sales, 1 is a Foreclosure and 3 have no chance selling before Christmas. EAGLE LAKE   Currently has 18 homes active on the MLS  down from the 32 a month ago.  Out of those 3 are Foreclosures and 11 are short sales. In the last 60 days there have been 15 sal...
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By Paul Antonelli, Broker Owner; Antonelli Realty
(Antonelli Realty)
BELLALAGO UPDATE    Today there are 44 homes listed for sale on the MLS, that marks an all time low.  The listed prices range from 114,000 to an unrealestic $650,000 (as if this will happen soon, must be a new agent).    From those 44 homes, 33 are short sales and only 3 are foreclosures. A far cry from where we were just 7 months ago with 139 homes on the market and over 50 of those in foreclosure.   In the last 60 days there have been 30 sales via MLS. The current trends are $69. per square foot, that's up $2. per square foot since last month. Yes, that is good news. And homes on the water are still hovering at the $80 p.s.f.         More sales mean that more homes are becoming occupied. Homes are selling faster these days. Curently, some homes are selling for as much as 5% over askin...
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I recently had a buyer that really loved a home and put it under contract in the Kissimmee, Florida area. The home was a 3/2 with a pool backed up to a conservation area and went pending at 162k. The area is a short term rental subdivision, much like most in the Disney Area. The appraisal came in five days before closing and it came in at asking price but Colonial Bank had an additional review process that later said "NO GO" on the loan. The buyer backed out because he now felt it was a bad investment. My question here is does the buyer get the escrow refunded? Is this something that this financial institution wouldn't approve because of their lending guidelines or do you think every bank would of made this decision? Let me know your thoughts on what happened here and how do you move fo...
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By Bryant Tutas, Selling Florida one home at a time
(Tutas Towne Realty, Inc and Garden Views Realty, LLC)
Hi folks. Last night I was cruising around Craigslist.com deciding whether or not to place some ads for my short sale services. It's getting a little sleazy over there. Ads for short sale services, loan mods and foreclosures assistance are every where. Some were pretty good and some were.....well.........just check out this one: Do You Need To Hold Off Your Foreclosure? Do You Need Time to Arange a Short Sale? Do You Just Want to Stay in Your Home For Up to 15 Months? For $200/month we Offer a Money Back Gaurantee if we Can't Stall Your Foreclosure. I copied this advertisment directly from Craigslist. THIS IS NOT MY AD!!! So I guess you can now pay people to do nothing more than help you beat the system. How crappy is that? What say you? ***If you are facing foreclosure then please con...
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Read The Full Article At: www.ThePinkFlamingo.info The purpose of this post is not to knock management companies as their are a few good apples out there however, it's been my experience that property management companies should stick to what they do best and that's managing vacation property. Here are some of the issues I've ran into with homes that are listed by property Orlando vacation home management companies that also have a real estate side. 1. Scheduling Conflicts: I've never had more issues trying to get into houses than I have with ones that are listed with Orlando area management companies.  It's inevitable for everyone that if your home is being actively booked there will be times it can not be shown however, the vacation home management companies I have had the pleasure of...
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Read More Article Like This and More at: www.ThePinkFlamingo.info Whether you are looking for a place to cool for this summer or you're in the market to buy a family friendly vacation home in Orlando these three communities boast the best private water parks in Orlando and are sure to not disappoint the kids! 1. The Reunion Resort The Reunion Resort water park is the behemoth of all the Orlando vacation home community water parks.  It has a lazy river, twisting water slides, wooden boardwalk, water playground, full food and beverage service, sunny and shaded lounge areas and scheduled family activities Monday through Saturday from 8:00 AM to 5:00 PM at the Kids Crew adjacent to the Water Park. A huge plus about this water park is that it's generally not as crowded since there is also an...
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By Janice Petteway
(Exit Real Estate Results)
The common wisdom these days if you want to sell your Florida home is to underprice your competition.  Sellers hate this advice from their Realtor®, but in a tough market, an attractive price may provide a competitive edge when several properties up for sale in a neighborhood.  A recent analysis by ZipRealty indicates underpricing is not a one-size-fits all tactic especially in the Orlando area. Agents typically provide sales prices of comparable homes in the neighbor to sellers to give them an idea of how to price their home.  Working face-to-face with an agent is preferable to just depending on an on-line analysis as the agent can figure in factors such as the condition of the home, special features, and sales figures from a much more local area than software alone can do.  What agent...
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By Allison Stewart, St. Cloud Fl Realtor, Osceola County Real Estate 407-616-9904
(St.Cloud Homes )
Finally... news consumers have been waiting to hear the housing market has taken an important turn...UP.   For months the dismal reports thwarted leery home buyers who wondered if the market would continue to sink into what seemed to be an endless abyss. The most recent news as reported on ABC World News with Charles Gibson reports new home sales surge for the first time since 2000 up an impressive 11%. Signs on locals levels have been noticeable as home buyers rush to the market in attempts of scooping up bargain prices on Foreclosed and short sale homes-the  process often daunting and equally frustrating as multiple bids have been reported on the rise. In areas of central Florida suchas distressed Poinciana for example- homes are receiving offers 12-18% above asking prices and getting...
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By Mark Horan, "The Resident Chef" - Resident Team Realty LLC &
(Resident Team Realty, LLC & Toni's Property Management LLC)
"When do You Think The Market Will Stabilize?" I was asked today by an asset manager about a condo in an area in Kissimmee. Here is how I responded. "Hidden Cove is in an area that is economically dyeing in town. The low cost of housing has brought crime in the area. This community is slowly deteriorating. This is a gated community, but the gates don't work. Stabilizing will start when unemployment gets back to single digits. Our county is already at 10.4% which is above the national average. Tourism is the biggest part of our economy. Hotels and the theme parks are down with projections of 2010 not being any better. My wife works for Marriott hotels in her 25th year. Next years bookings are down and the projections are not good. Property values are still declining and with Home Valuati...
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Centerline Homes is happy to announce that we have officially completed our Northshore community in Kissimmee, FL.  Thank you to all that helped make this Kissimmee community a success!  We still have many other great communities in Central Florida including Isles of Oviedo, Preston Square, Summerlake, Baldwin Park, and Bronson's Landing.  To learn about any of these or our other current communities in please visit our site. www.centerlinehomes.com Stay Up To Date: Become a Fan or Follow Us on Twitter and Check Out our Corporate Blog for Additional Information.   Visit our Corporate Site www.CenterlineHomes.com Over 5,000 families are enjoying their Centerline-built home, and that number is growing rapidly. Since the company's inception, Centerline Homes has built its reputation by offe...
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By Allison Stewart, St. Cloud Fl Realtor, Osceola County Real Estate 407-616-9904
(St.Cloud Homes )
Florida isn't just for retirees you know. Florida is well know for its Tourist Industries, Attractions, Beaches and certainly the Space Program.  The allure of living in Florida is of course the weather. Basically, we have one season...Summer.  Of the 64 counties which comprise Florida as a state, every county is different. Central Florida seems to attract people in search of cultural activites, employment ooportunities, and housing opportunties. WHY OSCEOLA COUNTY?  Geographically, Osceola County is in close proximity to all the things people come to Florida for. Just 30 minutes from Orlando, Sea World, Disney, The Space Coast, the Science Center, The Amway Theater, it is also a bedroom community. Homes can be purchased here for under $70,000.  Some date back to the beginning of St. Cl...
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By Bryant Tutas, Selling Florida one home at a time
(Tutas Towne Realty, Inc and Garden Views Realty, LLC)
  Hi folks. This post is about "disintermediation". I have a whole bunch of stuff I could write about this topic but today I want to concentrate on Real Estate portals, specifically Trulia, Zillow and Cyberhomes. First, in a nutshell, "disintermediation" is defined as "getting rid of the middleman". The idea is that Sellers and Buyers no longer need agents and can just log on to Trulia, Zillow, Cyberhomes or any of the other real estate portals and buy and sell real estate without the help of the middleman or REALTORS® specifically. Now folks I don't want to debate the value of a REALTOR®. Been there done that. I want to talk about this disintermediation thing. Here's what I think. The real estate portals, that supposedly will make the MLS no longer necessary, are actually creating ano...
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By Mark Horan, "The Resident Chef" - Resident Team Realty LLC &
(Resident Team Realty, LLC & Toni's Property Management LLC)
Well, I Just had a brand new home appraised using distressed properties as comparables. The builder discounted the home , and the appraiser just devalued it $80,000. That's 37%. If builders cannot build a home and at the very least cover the materials, we are in for an economy with no new home starts. Something needs to be done. Giving banks money is not solving our problems. Appraisers are using the lowest comps they can find regardless of condition or age. If banks don't need the loans to make money, the appraisers run unchecked. This is a very bad economic indicator.  
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By Mark Horan, "The Resident Chef" - Resident Team Realty LLC &
(Resident Team Realty, LLC & Toni's Property Management LLC)
I am taking this time to post an email I received about a blog I wrote sometime ago How Long Will It Be Until The Banks Open The Flood Gates.  I agree with every point of this email.   You've received a contact message from your Contact Form on the ActiveRain network. Message details: From: Dana Subject: from California (Sent via Activerain) Just read your article about banks holding back their bank owned properties and all I can say is wow! YOU are on the mark! I own a repo cleaning business here in California. Business is sparse right now- regardless of how many homes I drive by that appear vacant, a mess, bank owned and NOT for sale. In my desire to get to the bottom of my lack of new business... I have been asking LOTS of questions to many people in the know.I talked with a broker i...
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By Bryant Tutas, Selling Florida one home at a time
(Tutas Towne Realty, Inc and Garden Views Realty, LLC)
"I'm not a racist but......." Do these words make you cringe? Do you just want to leave before they go any further? The best way to tell a racist is when they say “I’m not a racist but……”. Meeting with so many potential customers on a regular basis, as I do, it doesn’t surprise me when I hear this but it does surprise me how often I hear it and who’s saying it. As REALTORS(R) we cannot go there! We must nip this conversation in the bud before it goes any further. There is a little law called the Fair Housing Act that we must abide by.         * How do we do this?         * How do we continue to work with this person?         * Do we just ignore it and move forward?         * Do we lay the law down? I must admit that this always places me in an awkward position. I usually move forward at...
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Read The Full Article at: www.ThePinkFlamingo.info When thinking about investing in a vacation home in Kissimmee close to Disney World one of the most important factors to consider, if you want to offset your expense as much as possible, is which neighborhoods generate the most income.  As a vacation home specialist my recommendation to you is to work backwards. Don't be like so many Orlando vacation home buyers that just  jump into this process, pick random houses to view and then worry about the revenue later.  Start backwards to achieve the income goals you desire.  The first backward step is to compile a list of  Kissimmee neighborhoods in your price range that earn top dollar on bookings and have a stable booking history and start focusing on those communities.  There are really tw...
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By Allison Stewart, St. Cloud Fl Realtor, Osceola County Real Estate 407-616-9904
(St.Cloud Homes )
Buyers today seem frustrated (as are many Buyer's agents) in a field flooded with an endless plethora of properties foreclosed upon or in the beginning stages of the foreclosure process. But while desperate urgency seems to be driving them en masse, to pursue reportedly "good deals"  many are finding that multiple offers or non responsive agents seem to be thwarting their best efforts to participate in this what has been called "Opportunity Times".  Sound familiar? REACTIVE OR PROACTIVE? Certainly no one will dispute that these are glory days for REO specialists. Their files are fat with fresh listings from deliciously served up on platters from the feast of foreclosures, and short sales. Lenders, and banks looking for liquidity to parch the endless thirst created when loans dried up an...
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By Bryant Tutas, Selling Florida one home at a time
(Tutas Towne Realty, Inc and Garden Views Realty, LLC)
Hi folks. This post is a follow up to my recent post My Buyer only wants one house. Why make 14 offers? If you haven’t read that one….I’ll give you a brief synopsis. It’s about making offers on multiple properties even though my Buyers intent is to only purchase one of them.I’m writing this post for clarity. I want to clarify what I’m doing and I need clarity on a few of the comments that were left.First, a few people mentioned that they MUST have an escrow deposit in hand prior to submitting a purchase offer. If this is a law……….show it to me. I don’t believe it.Secondly, I had two agents from Georgia comment about what their purchase contracts state about disclosure. One said: "In GA we actually have something in our contracts specifically for this. A checkbox in which the buyer must ...
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We have successfully sold our last home in Northshore which is located in beautiful Kissimmee Florida.  Thank you to all that helped make Northshore such a successful and beautiful new home community! Want the latest updates from Florida builder Centerline Homes? Follow Us on Twitter and Check Out our Corporate Blog for Additional Information Visit our Corporate Site www.CenterlineHomes.com Over 5,000 families are enjoying their Centerline-built home, and that number is growing rapidly. Since the company's inception, Centerline Homes has built its reputation by offering true value to its customers in award-winning communities. Additionally, many of its homes have won numerous industry awards for artistic design and superior architectural detailing. Centerline Homes continues this tradi...
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