Orlando Real Estate News

ORLANDO - Florida Realtor Magazine talked to members throughout the state and asked them to analyze the challenges and opportunities facing Florida's real estate market over the next 12 months. According to the responses, it helps to consider four distinct types of buyers:

1. Working-age singles, couples and families
This segment is most affected by conditions in the local economy, especially the creation of new jobs. Sean Snaith, director, University of Central Florida Institute for Economic Competiveness in Orlando, notes that the strongest sectors of Florida's economy are education, health services, and professional and business services. That means real estate professionals should keep track of hospitals, schools and service companies in their communities for expansions or other job-creating activities.

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WASHINGTON - Mar. 14, 2011 - A new poll of nearly 1,000 Realtors offers a glimpse at the top "green" improvements recommended by real estate professionals to help move a sale property off the market.

The upgrades - which include planting native greenery, replacing air filters, staging the home with recycled or reusable props, weather-stripping doors and windows, installing programmable thermostats, installing low-flow showerheads, using turn-off power strips, replacing standard lighting with CFL or LED bulbs, and choosing low-VOC paint - are all fairly inexpensive investments.

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For some, life without their pets is unimaginable, but when it comes to selling a home, man's best friend can quickly become a potential buyer's pet peeve. When you're selling a house, the family dog, cat or wild guinea pig can deter buyers from purchasing your home.

"Almost everyone loves pets, but even the most obedient animal can create distractions and possibly cost home sellers," said Jim McEneaney, senior regional vice president of Coldwell Banker Residential Brokerage. "Work with your Realtor to adequately prepare your home when pets are involved."

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WASHINGTON - Mar. 12, 2011 - More homebuyers will soon find that their mortgage broker can't select an appraiser, part of a federal effort to ensure that appraisers aren't pressured to inflate home values.

Effective Feb. 15, mortgage brokers will no longer be able to order appraisals on loans insured by the Federal Housing Administration (FHA). For consumers, that is supposed to mean home appraisals will more closely reflect a home's value. The reason: Brokers who may profit from a loan being approved won't also be choosing appraisers, who may feel pressured to declare a higher value.

But organizations such as the National Association of Realtors (NAR) and the Appraisal Institute say the change, along with other efforts to reform the appraisal industry, is hurting consumers and appraisers. They say new rules that swept through the appraisal industry in 2009 - rules designed to ensure appraisals are impartial - are resulting in excessively low home values, because chosen appraisers aren't as experienced or as familiar with local markets. They also say the appraisers take more time, causing delays in getting appraisals done.

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FROSTPROOF, Fla. - Mar. 13, 2011 - Residents with sinkholes on their property should be aware of several key factors as they seek to recoup their losses, state officials said.

Because of Florida's geology, more sinkholes form here than in any other state, so a homeowner's insurance policy covering sinkhole damage is recommended.

And if a sinkhole appears on private property - even if the formation was triggered by outside factors such as drought, new construction, heavy rain or heavy ground-water pumping - the property owner is responsible for the damages and repair, according to the Florida Department of Environmental Protection.

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