Central FL Real estate news

01/22/2025

https://www.facebook.com/share/v/1EsQ7qhhEz/

Monday morning quarterback report..
We are seeing some increase in activity!

10/12/2024

Just sharing some info...

Public Information Division Manager Andy Wontor, Seminole County AGENCY
View larger photoINDIVIDUAL ASSISTANCE: FEMA has declared Seminole County as a designated disaster area following Hurricane Milton. Residents can apply NOW for Individual Assistance through FEMA.
For more information or to start the application, go to www.disasterassistance.gov
FEMA has a help hotline for assistance 7a.m.-10p.m., 7 days a week. Please call 1-800-621-3362.

You can find more information on the Coronavirus (COVID-19) page and the Centers for Disease Control and Prevention (CDC) website.

11/11/2023

Copy and Pasted from a friend but soooo true.
SO…YOU WANT TO BE A REALTOR
There is a lot of talk in the news about real estate agent commissions. They LOVE what they do and they do it because they LOVE helping people but there is almost always a huge misconception on what they do and how they get paid. It's not a secret so here ya go...😊
The average FULL TIME REALTOR’s earnings last year was $31,900 @ 40+ hours a week. (Notice I wrote full time 40+ hours not 0-20 hours a week) which is well below the living wage. As a REALTOR they do not get paid a hourly wage or salary and they
only get paid if they sell a home and it closes. They can only get paid by broker to broker. As an agent you could work with someone days, weeks, months, or years with no guarantee of a sale ever.
Essentially they wake up each day unemployed going on Job Interviews and they deal with constant rejection. They dedicate time away from family, use our time, gas, pay for babysitters, miss dinner and weekends and rarely take vacations. They are on 24/7! You constantly need to be on, or you could miss an opportunity. Once they do close a home, half goes to the other persons agent from the remaining half. They have lots of upfront expenses that must be paid out before they even get paid:
Broker Splits and Fees
Office rent and utilities
MLS Fees
NAR Fees
Local Association Fees
E&O Business Insurance
Extended Auto Insurance
Self-Employment Tax
State Licensing Fees
Advertising Fees
Showing Service Fees
Website Fees
Assistant's Salaries
Showing partners
Transaction coordinator
Yard Signs
Photographers
Videographers
Office Supplies
Business Cards
Property Flyers
Electronic Lockboxes
Continued RE Education
Legal Fees
Gas
Income taxes are not taken out so they have to put that aside around 25-30%.
Don’t forget health insurance if you don’t have a spouse who provides it.
As a listing agent they have lots of tasks far more than just selling a home.
1. Prepare Listing Presentation for Sellers
2. Research Sellers Property Tax Info
3. Research Comparable Sold Properties for Sellers
4. Determine Average Days on Market
5. Gather Info From Sellers About Their Home
6. Meet With Sellers at Their Home
7. Get To Know Their Home
8. Present Listing Presentation
9. Advise on Repairs and/or Upgrades
10. Provide Home Seller To-Do Checklist
11. Explain Current Market Conditions
12. Discuss Seller’s Goals
13. Share Your Value Proposition
14. Explain Benefits of Your Brokerage
15. Present Your Marketing Options
16. Explain Video Marketing Strategies
17. Demonstrate 3D Tour Marketing
18. Explain Buyer & Seller Agency Relationships
19. Describe the Buyer Pre-Screening Process
20. Create Internal File for Transaction
21. Get Listing Agreement & Disclosures Signed
22. Provide Sellers Disclosure Form to Sellers
23. Verify Interior Room Sizes
24. Obtain Current Mortgage Loan Info
25. Confirm Lot Size from County Tax Records
26. Investigate Any Unrecorded Property Easements
27. Establish Showing Instructions for Buyers
28. Agree on Showing Times with Sellers
29. Discuss Different Types of Buyer Financing
30. Explain Appraisal Process and Pitfalls
31. Verify Home Owners Association Fees
32. Obtain a Copy of HOA Bylaws
33. Gather Transferable Warranties
34. Determine Need for Lead-Based Paint Disclosure
35. Verify Security System Ownership
36. Discuss Video Recording Devices & Showings
37. Determine Property Inclusions & Exclusions
38. Agree on Repairs to Made Before Listing
39. Schedule Staging Consultation
40. Schedule House Cleaners
41. Install Electronic Lockbox & Yard Sign
42. Set-Up Photo/Video Shoot
43. Meet Photographer at Property
44. Prepare Home For Photographer
45. Schedule Drone & 3D Tour Shoot
46. Get Seller’s Approval of All Marketing Materials
47. Input Property Listing Into The MLS
48. Create Virtual Tour Page
49. Verify Listing Data on 3rd Party Websites
50. Have Listing Proofread
51. Create Property Flyer
52. Have Extra Keys Made for Lockbox
53. Set-Up Showing Services
54. Help Owners Coordinate Showings
55. Gather Feedback After Each Showing
56. Keep track of Showing Activity
57. Update MLS Listing as Needed
58. Schedule Weekly Update Calls with Seller
59. Prepare “Net Sheet” For All Offers
60. Present All Offers to Seller
61. Obtain Pre-Approval Letter from Buyer’s Agent
62. Examine & Verify Buyer’s Qualifications
63. Examine & Verify Buyer’s Lender
64. Negotiate All Offers
65. Once Under Contract, Send to Title Company
66. Check Buyer’s Agent Has Received Copies
67. Change Property Status in MLS
68. Deliver Copies of Contact/Addendum to Seller
69. Keep Track of Copies for Office File
70. Coordinate Inspections with Sellers
71. Explain Buyer’s Inspection Objections to Sellers
72. Determine Seller’s Inspection Resolution
73. Get All Repair Agreements in Writing
74. Refer Trustworthy Contractors to Sellers
75. Meet Appraiser at the Property
76. Negotiate Any Unsatisfactory Appraisals
77. Confirm Clear-to-Close
78. Coordinate Closing Times & Location
79. Verify Title Company Has All Docs
80. Remind Sellers to Transfer Utilities
81. Make Sure All Parties Are Notified of Closing Time
82. Resolve Any Title Issues Before Closing
83. Receive and Carefully Review Closing Docs
84. Review Closing Figures With Seller
85. Confirm Repairs Have Been Made
86. Resolve Any Last Minute Issues
87. Attend Seller’s Closing
88. Pick Up Sign & Lock Box
89. Change Status in MLS to “Sold.”
90. Close Out Seller’s File With Brokerage
As a buyers agent they also have many tasks.

1. Schedule Time To Meet Buyers
2. Prepare Buyers Guide & Presentation
3. Meet Buyers and Discuss Their Goals
4. Explain Buyer & Seller Agency Relationships
5. Discuss Different Types of Financing Options
6. Help Buyers Find a Mortgage Lender
7. Obtain Pre-Approval Letter from Their Lender
8. Explain What You Do For Buyers As A Realtor
9. Provide Overview of Current Market Conditions
10. Explain Your Company’s Value to Buyers
11. Discuss Earnest Money Deposits
12. Explain Home Inspection Process
13. Educate Buyers About Local Neighborhoods
14. Discuss Foreclosures & Short Sales
15. Gather Needs & Wants Of Their Next Home
16. Explain School Districts Effect on Home Values
17. Explain Recording Devices During Showings
18. Learn All Buyer Goals & Make A Plan
19. Create Internal File for Buyers Records
20. Send Buyers Homes Within Their Criteria
21. Start Showing Buyers Home That They Request
22. Schedule & Organize All Showings
23. Gather Showing Instructions for Each Listing
24. Send Showing Schedule to Buyers
25. Show Up Early and Prepare First Showing
26. Look For Possible Repair Issues While Showing
27. Gather Buyer Feedback After Each Showing
28. Update Buyers When New Homes Hit the Market
29. Share Knowledge & Insight About Homes
30. Guide Buyers Through Their Emotional Journey
31. Listen & Learn From Buyers At Each Showing
32. Keep Records of All Showings
33. Update Listing Agents with Buyer’s Feedback
34. Discuss Home Owner’s Associations
35. Estimate Expected Utility Usage Costs
36. Confirm Water Source and Status
37. Discuss Transferable Warranties
38. Explain Property Appraisal Process
39. Discuss Multiple Offer Situations
40. Create Practice Offer To Help Buyers Prepare
41. Provide Updated Housing Market Data to Buyers
42. Inform Buyers of Their Showing Activity Weekly
43. Update Buyers On Any Price Drops
44. Discuss MLS Data With Buyers At Showings
45. Find the Right Home for Buyers
46. Determine Property Inclusions & Exclusions
47. Prepare Sales Contract When Buyers are Ready
48. Educate Buyer’s On Sales Contract Options
49. Determine Need for Lead-Based Paint Disclosure
50. Explain Home Warranty Options
51. Update Buyer’s Pre-Approval Letter
52. Discuss Loan Objection Deadlines
53. Choose a Closing Date
54. Verify Listing Data Is Correct
55. Review Comps With Buyers To Determine Value
56. Prepare & Submit Buyer’s Offer to Listing Agent
57. Negotiate Buyers Offer With Listing Agent
58. Execute A Sales Contract & Disclosures
59. Once Under Contract, Send to Title Company
60. Coordinate Earnest Money Drop Off
61. Deliver Copies to Mortgage Lender
62. Obtain Copy of Sellers Disclosure for Buyers
63. Deliver Copies of Contract/Addendum to Buyers
64. Obtain A Copy of HOA Bylaws
65. Keep Track of Copies for Office File
66. Coordinate Inspections with Buyers
67. Meet Inspector At The Property
68. Review Home Inspection with Buyers
69. Negotiate Inspection Objections
70. Get All Agreed Upon Repair Items in Writing
71. Verify any Existing Lease Agreements
72. Check In With Lender To Verify Loan Status
73. Check on the Appraisal Date
74. Negotiate Any Unsatisfactory Appraisals
75. Coordinate Closing Times & Location
76. Make Sure All Documents Are Fully Signed
77. Verify Title Company Has Everything Needed
78. Remind Buyers to Schedule Utilities
79. Make Sure All Parties Are Notified of Closing Time
80. Solve Any Title Problems Before Closing
81. Receive and Review Closing Documents
82. Review Closing Figures With Buyers
83. Confirm Repairs Have Been Made By Sellers
84. Perform Final Walk-Through with Buyers
85. Resolve Any Last Minute Issues
86. Get CDA Signed By Brokerage
87. Attend Closing with Buyers
88. Provide Home Warranty Paperwork
89. Give Keys and Accessories to Buyers
90. Close Out Buyer’s File Brokerage
Whew…exhausting isn’t it!?! 🤯
✨You don't need to buy or sell a home to support your agents real estate business – here are just a few simple ways to show your support!⁣ By sharing one of their listings, sending a friend or family member their way, letting them connect you with agents outside their area for a broker to broker referral, or leaving them a positive comment or review, this helps them feel seen and supported - (thanks to you)! ❤️✨
If you’re a Realtor, please feel free to copy & paste and continue to share this information.

07/27/2023

Brad makes all the numbers make sense,,,

June and second quarter 2023 statistics showed signs of continued stabilization of median prices and improving inventory levels compared with a year ago, according to Florida Realtors®’ latest housing data.

03/01/2023

More buyers are looking!
Our market is still strong

1 in 4 buyers searching for a home via Redfin’s website considered homes in other metros. Fla. remains a top choice, and Miami returned to the No. 1 spot.

02/27/2023

Brad O'Connor explains the market! He is always a wealth of information.
Its about a 5 minute presentation..

Continuing trends from the final few months of last year, Florida’s housing market started 2023 with higher median prices and more inventory (active listings) in January compared to a year ago.

01/18/2023

Orlando Regional Realtor Association
(ORRA ) shared the State of the Market report yesterday..

Good info!!

State of the Market
“The white-hot seller's market we saw last year is over as we’re now seeing a more traditional market,” said Lisa Hill,
2023 Orlando Regional REALTOR® Association President. “Inventory is on the rise, giving buyers more options. However,
those buyers are also faced with higher interest rates, which will have the biggest impact on the market in 2023.”
December’s median home price was recorded at $353,200, down from November’s median home price of $360,000.
The overall median home price in 2022 was recorded at $365,000, an all-time high and a 17.7% increase compared to
2021 when the overall median home price was recorded at $310,000.
Overall sales in December increased by 11.7% from November, with 2,230 sales recorded.
Overall sales in 2022 decreased by 16.3% with a total of 38,162 sales. Overall sales in 2021 were recorded at 45,572.
Inventory dropped in December, decreasing by 11.8% from November, for a total of 6,351 homes on the market.
At the start of the year, inventory was recorded at 2,379 – just 0.78 months of supply. In December 2022, inventory
was recorded at 6,351 – 2.85 months of supply. (The real estate market is considered balanced when there is 6 months
of supply).
Interest rates decreased for the second month in a row – 6.1% in December compared to 6.6% in November.
During 2022, interest rates increased each month until October when interest rates reached 6.95%, their highest point
in more than 20 years. Interest rates began to fall the two subsequent months, closing out the year at 6.12%.
17 distressed homes (bank-owned properties and short sales) accounted for 0.8% of all home sales in December.
That represents a 88.9% increase from November, when 9 distressed homes sold.
New listings dropped in December, with 2,186 new listings, compared to 2,597 new listings in November

08/30/2022

Seminole County median prices..
We have a slight dip, but they are still up... but it IS shifting.

06/10/2022

He is usually right on point.

NAR Chief Economist Lawrence Yun reacts to the latest inflation numbers from the Consumer Price Index.

03/16/2022

ORRAs Governmental Affairs luncheon meeting was in Lake Mary today. Property Appraiser David Johnson shared Seminole County most recent stats and trends..
He is such a wealth of information and always a pleasure to hear him speak.
He spoke of past stat, current stats and the importance of Portability to be in addition to your homestead.. if you sold a home and moved to Seminole county , his office will help guide you through the process no matter where in Florida you sold!
It may save you extra $$$$

02/19/2022

After three fairly calm weeks, the average rate for a 30-year, fixed-rate mortgage rose to 3.69% from last week’s 3.55%.