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Orlando, FL Real Estate News

By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Feeling a bit unsure, or even afraid, to move with everything going on right now? The decision to move shouldn’t be scary, it should be exciting. And the best way to eliminate any fear is to work with a pro. Real estate agents are so much more than just transaction facilitators; they’re trusted guides to help you navigate the complexities of the housing market with confidence and ease. And a great agent can turn what may feel like a daunting process into a manageable—and even enjoyable—experience.That’s why, in a Bright MLS survey, respondents agreed partnering with an agent is essential and helps cut down on their stress: Here are just a few examples of why that expertise can give you so much peace of mind. 1. Explaining the Current Market You may be seeing misleading headlines about a...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Even though there are more homes available for sale than there were at this time last year, there are still more buyers than there are houses to choose from. So, know that if you’ve got moving on your mind, your house can really stand out.There are several key reasons why there aren’t enough homes to go around and understanding them will help you see why the market is working in your favor if you’re ready to make a move.What’s Causing the Shortage?1. Underproduction of Homes: For years, the industry hasn’t built enough homes to keep up with demand. As Zillow explains:“In 2022, 1.4 million homes were built — at the time, the best year for home construction since the early stages of the Great Recession. However, the number of U.S. families increased by 1.8 million that year, meaning the c...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
There are a number of scary myths about homebuying in today’s market. Here’s what you need to know. Prices are not expected to crash, it is possible to buy even with student loan debt, and there are programs that can help you save for a down payment. Don’t let scary myths delay your homebuying plans. Let's connect so you have a pro to help you separate the facts from your fears.  Contact us:PHP Houses142 W Lakeview AveUnit 1030Lake Mary, FL 32746Ph: (407) 641-1531Fax: (407) 205-1951email: info@phphouses.comLet’s Connect:FacebookLinkedinTwitterInstagramThe information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained he...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
With everything feeling more expensive these days, it’s natural to worry about how rising costs might impact the housing market. Many people are concerned that high prices and tighter budgets could cause more homeowners to fall behind on their mortgage payments, leading to a wave of foreclosures.But before you start worrying about a housing market crash, here’s a look at what’s really happening. And the good news is: the latest foreclosure data shows there’s no wave on the horizon.How Today’s Market Is Different from 2008Let’s ease those fears by looking at the bigger picture. The graph below uses research from ATTOM, a property data provider, to show that the number of homeowners starting the foreclosure process is nowhere near what we saw coming out of 2008. Back then, there was a big...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
As you’re getting ready to sell your house, one of the first questions you’re probably asking is, “how long is this going to take?” And that makes sense—you want to know what to expect.While every market is different, understanding what’s happening nationally can give you a good baseline. But for an even more detailed look at real estate conditions in your area, connect with a local real estate agent. They know your local market best and can explain what’s happening near you and how it compares to national trends.Here’s a look at some of the things a great agent will walk you through during that conversation.More Homes Are on the Market, and That’s Affecting How Long They Take To SellAccording to Realtor.com, the number of homes for sale has been going up this year. That means there are...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
If your goal is to sell your house in 2025, now’s the time to start prepping. Even though it might seem like there’s plenty of time between now and the new year, you should get a head start on any updates or repairs you want to make now. As Danielle Hale, Chief Economist at Realtor.com, says:“ . . . now is the time to start thinking about what you need for your next home and then taking those steps to prepare to list . . . We have survey data that says 47 percent of sellers are taking longer than a month to get their home ready to sell, so getting them to start that process early can mean more flexibility.”By starting your prep work early, you’ll give yourself plenty of time to get your house market-ready by the end of the year. But be sure to partner with a great agent before you get s...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
You may be torn between buying a home now or waiting. But don’t forget to factor in the equity you’ll gain as prices rise. Experts forecast prices will climb over the next 5 years – and based on those forecasts, you could gain about $90k in equity in that time. So, you could wait, but you’ll miss out on a lot of equity if you do. If you’re ready and able to buy, let’s connect so you can start growing your wealth now.  Contact us:PHP Houses142 W Lakeview AveUnit 1030Lake Mary, FL 32746Ph: (407) 641-1531Fax: (407) 205-1951email: info@phphouses.comLet’s Connect:FacebookLinkedinTwitterInstagramThe information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of t...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Homeowners typically slow down their moving plans as the summer months wrap up, and as a result, fewer homes are listed for sale in the fall. It’s a predictable, seasonal trend in real estate. But this year, mortgage rates came down at the same time the number of homes on the market usually starts to decline. So, what happened? More homeowners decided to sell, so more homes came to the market.The most recent data from Realtor.com reveals that in September, the number of homes put up for sale increased by 11.6% compared to this time last year.As the green circle in the graph below shows, the typical September decline in homes coming to the market didn’t happen – that number actually went up (see graph below): Ralph McLaughlin, Senior Economist at Realtor.com, explains why there was an un...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too.According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see graph below): Here’s why equity makes this possible. Over the past five years, home prices have increased significantly, which has led to a big boost in equity for current homeowners like you. When you sell your house and move, you can take the equity that gives you and apply it toward a larger down payment on your new home. That’...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
For some buyers, there’s a misconception that newly built homes aren’t made to last or fall short of the quality you can find in older homes. Unfortunately, this is turning some buyers away from what may be one of their best options in today’s housing market. As Builder Online says:“As resale inventory remains limited and the price spread between new and resale homes narrows, new homes are increasingly an attractive value proposition for buyers, with incentives such as rate buydowns a way to help address ongoing affordability challenges.”So, is there any merit to the myth? Let’s break down the best way to make sure you feel good about looking into new home construction. That way, you’re not missing out on such a great option today.Choosing the Right BuilderThe key to making sure you get...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
If you’re looking to break into homeownership but the price of single-family homes has you second-guessing, you might want to consider a condominium (condo) or townhome. These types of homes often come with a lower barrier to entry – and that can help you start to build equity and enjoy the benefits of owning a home sooner.Since they're usually smaller than single-family homes, they can be easier on your wallet. While it’s not always the case, smaller square footage usually comes with a smaller price tag too. As a result, according to the latest data from Realtor.com, condos typically have a lower asking price than single-family homes (see graph below): And here’s some exciting news: builders are focusing more on homes like these. The National Association of Home Builders (NAHB) says: “...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Based on a recent study, in 22 of the top 50 metros, the monthly mortgage payment is lower than the rent payment. Make sure you work with a pro who can help you crunch the numbers and see how your city stacks up. This may be your opportunity to forget renting for good. If you want to see which option makes the most sense in our area, let’s do the math together.  Contact us:PHP Houses142 W Lakeview AveUnit 1030Lake Mary, FL 32746Ph: (407) 641-1531Fax: (407) 205-1951email: info@phphouses.comLet’s Connect:FacebookLinkedinTwitterInstagramThe information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing here...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
If you’re toying with the idea of selling your house, you’re probably wondering how much it’ll cost. To be honest, the final number will depend on several factors like the offer you accept, if you help with your buyer’s closing costs, how many repairs you tackle, and more.So, to give you a ballpark of what to expect, here’s some information on a few of the expenses you’ll want to be ready for (see graph below): But here’s something that puts those costs into perspective. Most homeowners today have a substantial amount of equity built up in their homes, and that means they stand to make significant gains when they sell. Chances are, you do too. This can help quickly recoup these selling costs. You may even have enough equity leftover to put some toward your next home purchase too. Let’s ...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
You may have heard chatter recently about the economy and talk about a possible recession. It's no surprise that kind of noise gets some people worried about a housing market crash. Maybe you’re one of them. But here’s the good news – there’s no need to panic. The housing market is not set up for a crash right now.Real estate journalist Michele Lerner says:“A housing market crash happens when home values plummet due to a lack of demand for homes or an oversupply.”With that definition in mind, here are two reasons why this just isn’t on the horizon.1. Demand for Homes Is Higher than SupplyOne of the biggest reasons the housing market crashed back in 2008 was an oversupply of homes. Today, though, it’s a very different story.It’s a general rule of thumb that a market where supply and dema...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Has your house been sitting on the market longer than expected? If so, you’re bound to be frustrated by now. Maybe you’re even thinking it’s time to pull the listing and wait to see what 2025 brings. But what you may not realize is, the decision to hold off could actually cost you. Here’s a look at why staying the course could be the smarter move. Other Sellers Are Pulling Back. Should You Hold Off Too? According to recent data from Altos Research, the number of withdrawals is increasing – that means more sellers are opting to pull their listings off the market right now. And this isn’t unusual for this time of the year. In the housing market, there are seasonal ebbs and flows. Inventory levels typically start to drop off a bit headed into the fall season as some sellers delay their pl...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
If you’ve been wanting to sell your house and move up to a bigger or nicer home, you’re not alone. A recent Inman survey reveals the top motivator for today’s homebuyers is the desire for more space or an upgraded home (see graph below): But there’s also a good chance you, like many other people, have been holding off on that goal because of recent market challenges. It makes sense – when you’re planning an upgrade that could increase your monthly housing costs, affordability has a huge impact on when you make your move. But there’s good news: now’s actually a great time to make that move happen. Here’s why. You Have a Lot of Equity To Leverage One of the key benefits in today’s market is the amount of equity you’ve likely built up in your current house over the years. Even with recent ...
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By Anthony Stokes-Pereira /REALTOR, LPT Realty
(LPT Realty)
by Anthony Stokes-Pereira /LPT Realty October 06, 2024 09:08 AM Buying your first home is an exciting milestone, but it can also be a daunting process. To help you navigate this journey, we’ve put together a comprehensive guide covering everything from preparing for mortgage prequalification to understanding current interest rates and housing inventory in Lake Nona, Orlando. Preparing to Get Pre-Approved for a Mortgage Before you start house hunting, it’s crucial to get pre-approved for a mortgage. This step will give you a clear idea of how much you can afford and make you a more attractive buyer to sellers. Here are some steps to help you prepare: Gather Financial Documents: Collect your recent pay stubs, tax returns, bank statements, and any other financial documents that show your ...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Affordability is based on three key factors: mortgage rates, home prices, and wages. And today, it’s improving quickly as rates come down, prices level off, and wages climb. If you put your search on pause because it was too expensive to buy, let’s talk about why now may be the perfect time to jump back in. Contact us:PHP Houses142 W Lakeview AveUnit 1030Lake Mary, FL 32746Ph: (407) 641-1531Fax: (407) 205-1951email: info@phphouses.comLet’s Connect:FacebookLinkedinTwitterInstagramThe information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should ...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Recent headlines have been buzzing about the median asking price of homes dropping compared to last year, and that’s sparked plenty of confusion. And as a buyer or seller, it’s easy to assume that means prices are coming down. But here’s the catch: those numbers don’t tell the full story.Nationally, home values are actually rising, even if the median price is down a bit. Let’s break down what’s really happening so you can make sense of the market without getting caught up in the fear the headlines create.Homes on the Market Right Now Are SmallerThe biggest reason for the dip in median price is the size of homes being sold. The median price reflects the middle point of all the homes for sale at any given time. And that’ll be affected by the mix of homes on the market.To show you how this...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Seeing your house sit on the market without any bites is the ultimate frustration. And unfortunately, some sellers are in that tricky spot today.According to data from the National Association of Realtors (NAR), the average time a house spends on the market has increased over the past few years (see graph below): A recent post from Realtor.com notes a similar trend: “During the week ending Sept. 14, homes stayed on the market eight days longer compared to last year. With more choices available and mortgage rates expected to fall, buyers are taking their time, which means sellers will need to be patient and flexible.” Some of that is because inventory has gone up, so buyers have more options. And higher mortgage rates have definitely slowed demand over the past two years, and that’s out ...
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