Central Florida & metro Orlando real estate services

How to Find Your Perfect Niche Market in 3 Simple Steps

Thu, 19 Jan 2012 09:44:28 -0500

This is a great article on creating a niche in the real estate business. You don't want your niche to be so narrow that you cannot generate enough business from it. But at the same time you don't want it so broad that you are "just another real estate agent."

Via Rebekah Radice Social Media Marketing, Management & Strategies (Manager of Industry Engagement, Better Homes & Gardens RE):

Focusing your energy and attention on a particular real estate niche hasn’t always been an attractive idea. In fact, there are many real estate agents that still believe niche marketing is far too narrow in scope. If you find yourself fighting the urge to 'dig for riches in real estate niches' you might want to reconsider. Not only can it be extremely rewarding to meet the unique needs of the consumer, it can also be very profitable.

So why would you want to set your sites on a particular niche as opposed to building your brand on the premise that you are everything to everybody?

To begin with, the "jack of all trades" persona can backfire and actually leave the consumer with the distinct feeling that you are the master of none. Defining who your target audience is and then crafting your marketing to meet the needs of that niche can and will increase your results IF you do your homework.

How? It’s simple. A niche that you are passionate about is something you will eat, sleep and breathe. Your target niche isn’t just a group of people that you are pushing marketing propaganda and advice out to. They are a group you care deeply about, are prepared to go the extra mile for and excited and willing to serve.

Define Your Niche

Step 1 - What are you passionate about?

Working with first time homebuyers

Helping single moms achieve homeownership

Assisting families in buying a second or vacation home

Working with seniors

Using your website or blog to target a specific neighborhood

Creating a social media site for a specific group within your market

Helping out of state buyers relocate to your area

Step 2 – Find & Understand Your Target Market

Where does this group spend time and what are their interests?

Are they male or female, old or young?

Are they tech savvy or will your marketing be traditional?

Are they married, divorced, single or separated and do they have kids?

What matters most to them?

Are they career minded, entrepreneurs or retired?

Step 3 – Do Your Research

Your final step is determining whether or not this niche is large enough to generate an income. While you want to keep your focus narrow, do your homework up front so you know where or not it’s a niche that can support you and your family. Research your local market as well as keywords. Once you define your niche, your next step is creating your new marketing campaign.

The real estate industry is packed with competition and the theory has always been that we must learn more, be more, and do more in order to succeed. Don’t buy into it. Be selective in choosing your niche and identifying your target market. Then offer an enormous amount of value on a consistent basis and watch your business grow!

How to Find Your Perfect Niche Market in 3 Simple Steps was written by Rebekah Radice.

Subscribe to Rebekah's Blog for Social Media Marketing, Blogging and Business Success Strategies that Help You STOP Those Time Sucking Activities and Maximize, Prioritize and Monetize Your Online Efforts! Just Click SUBSCRIBE!

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T: 719.387.1368 | Email: rebekah@rebekahradice.com | Website: http://rebekahradice.com

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com

Our firm also provides flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Florida including Orlando, Altamonte Springs, Longwood, Apopka, Kissimmee, Clermont, Casselberry, Sanford, Lake Mary, and Deltona.

We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida and metro Orlando. Sign up for our free email list of foreclosure and great Orlando house deals.

We buy unrepaired sinkhole damage houses in Florida. www.SellSinkholeHouse.com

Orlando real estate statistics December 2011

Tue, 17 Jan 2012 18:04:36 -0500

The Orlando FL December 2011 real estate stats have been provided by the Orlando Regional Realtor Association. Here is a direct link to the full MLS statistics details. Below is a summary breakdown of their numbers. This covers Orange and Seminole County Florida, including cities like Orlando, Winter Park, Maitland, Windermere, Apopka, Ocoee, Altamonte Springs, Longwood, Lake Mary, Winter Springs, and Sanford.

Inventory New Listings New Pendings Under Contract Closed Days on Market

Dec 2010 14,993 3444 3196 8363 2467 97

Sept 2011 9,931 3193 3304 9369 2243 102

Oct 2011 9,973 2997 3084 8937 2132 106

Nov 2011 10,136 3045 2887 8909 2027 99

Dec 2011 9,732 2641 2800 8095 2125 103

The year end inventory of homes for sale in metro Orlando plummeted to just 9,732 homes for sale. This is the lowest level we have had since mid-2006. As is typical of December and the holidays, new listings and new pendings were down from previous months of the year. Additionally a larger number of properties always expire at year end because December 31 is often the expiration date on many listing agreements and thus 609 listings expired at the end of December. But sales remain steady. We had almost as many sales last month as we did in October and February 2011 - that is great news.

Home prices appear to be on the rise. We have had 4 months in a row where the average home price went up. December ended the year with a median home price of $118,000 (up from $106,000 in December 2010) and an average home price of $172,500 (up from $146,600 in December 2010).

Here is an additional analysis put out by the Orlando Realtor Association for you to review as well. Prices seem to be going back up slow but steadily despite what the media might have you believe. I am actively buying investment property at the moment as well. Interest rates are extremely low, so do not wait for them to pass before they go back up. Florida is still on sale but who knows for how long.

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com

We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida and metro Orlando. Sign up for our free email list of foreclosure and great Orlando house deals.

We buy unrepaired sinkhole damage houses in Florida. www.SellSinkholeHouse.com

New Years's goal setting. Treat your business like a business.

Wed, 04 Jan 2012 11:11:12 -0500

New Year's resolutions. Yuck! You set them. Then for most people before January even ends, you have already broken them. I have never been one for making these resolutions. If you are in the real estate business, then you need to be doing what normal business people do.

Treat your business LIKE A BUSINESS. Take the slow time during the winter months to work on your budgets. Figure out what is and is not working. Then set some goals, both long-term and short-term for your business. Develop a strategic plan of action to make those goals happen. I call mine a strategic business plan, and I make sure to review and re-develop it at least once every quarter.

Maybe that is all a little too deep for your average real estate person, but it should not be. So here are a few tips on developing and then achieving your goals.

Just remember the acronym S.M.A.R.T. Your goals need to be:

(1) Specific. Clearly defined and written. If a goal is too vague, it becomes too hard to measure and plan for. If it is not in writing, then you probably are not serious about it anyway.

(2) Measurable. You need to have some way to determine how close you are to achieving your goal. That way you can make changes as necessary to continue moving forward.

(3) Attainable. A goal needs to be worthy of the time, effort, and expense involved to attain it. It needs to be something that you can thrust yourself into so that you are motivated to get it accomplished as scheduled.

(4) Realistic. A goal needs to be just out of reach but not out of sight. If the goal is too simple to accomplish, you just need to do it and get it out of the way. If the goal is too difficult to accomplish, you need to break it down into smaller goals.

(5) Timely and tangible. A goal needs a specific deadline to be accomplished by. This creates a sense of urgency to get it done.

Break your goals down into the smallest denominator that you can. If you have never sold or bought a house before, then selling 50 houses in 2012 might be unrealistic. However if you want to sell 50 houses in 2012, then that means just over 4 houses selling every month. If your ratio of converting listings/prospects into a closing is 1 out of 3, then you need to be working on 12 solid leads every month to get 4 to close. If 4 out of 5 leads are not good prospects, then you need to generate 60 property leads every month (or 15 per week / 3 per business day) in order to get 12 solid leads in order to get 4 to close. The numbers above are just for example, but hopefully you get the drift.

I spend approximately 30 minutes every Sunday evening planning out my upcoming week. This helps me get a jump start on Monday morning. On the last Sunday of every month, I spend another 30 minutes or so setting my goals and plans for the upcoming month; I base these monthly goals on my yearly and longer-term goals for myself and my business. Additionally every day before I close up shop, I spend about 10 minutes writing up a to-do list for the next day. I am not a morning person, so if I do not do this I would end up spending 2 hours the next morning floundering around figuring out what I need to do. Time management software like Microsoft Outlook can make keeping you on track very easy to do.

Regardless of what plans you have for the New Year, set a few goals. Even if you only accomplish half of what you set out to do, that puts you way ahead of where you would have been otherwise. I hope that 2012 brings you a fantastic and prosperous year. If you need help or advice with getting your real estate career on track, feel free to contact me.

*** This article was originally posted in 2011. ***

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com

We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida and metro Orlando. Sign up for our free email list of foreclosure and great Orlando house deals.

We buy unrepaired sinkhole damage houses in Florida. www.SellSinkholeHouse.com

Great real estate deals we sold in Central Florida - December 2011

Mon, 02 Jan 2012 11:56:24 -0500

December and the year 2011 are behind us and while typically a slower month at most real estate offices it was busy and steady at Sand Dollar Realty Group. Plenty of deals closed last month along with some nail biter short sales that the banks wanted off the books before year end.

Sheeler Hills Pine Sap Rouse Run

1. Indiana St, Haines City, FL 33844. 2 bed, 2 bath home built in 1929 with charming wraparound porch. Great shape, but unfortunately a short sale for the owner. Sold in December for just $40,000.

2. Ballard St, Altamonte Springs, FL 32701. 3 bed, 2 bath home remodeled nicely by one of our investor clients. Sold for $77,900.

3. Sheller Hills Dr, Apopka, FL 32703. 3 bed, 2 bath home fixed up nice and sold to an FHA buyer for very low down payment with seller paying closing costs. Sold for $81,000. Amazing what you can buy for that price.

4. Pine Sap Ct, Orlando, FL 32825. 3/2/2 with lots of upgrades. Located in the Spring Pines subdivision of East Orlando. Short sale that was negotiated by our professional negotiating team - no charge to you. Sold for $87,650.

5. Garden Heights Dr, Winter Garden, FL 34787. 4/2/2 house in beautiful Garden Heights neighborhood. Short sale that we closed with Bank of America just before year end. Sold for $125,000.

6. Rouse Run Circle, Orlando, FL 32817. 3/2/2 block house in Rouse Run subdivision just down the road from the University of Central Florida. House had a great lake view out the back too. $132,000 sales price.

7. Azalea Bloom Dr, Apopka, FL 32712. 4 bed, 2.5 bath house on a hill in Parkside at Errol Estates. Bank owned REO was in fairly good condition with modern design and lots of square footage. This foreclosure home sold for $155,000.

8. Hopewell Dr, Ocoee, FL 34761. Big 5/3 with 3-car garage in the Forestbrooke subdivision. Modern home built in 2006 with 2-stories and bonus room over the garage. Sold for $215,000.

9. Riverpark Ct, Longwood, FL 32779. 5 bed, 3 bath estate home off of Markham Woods Road in Springs Landing subdivision. This 2-story home sold to an FHA buyer for $292,500.

This is just a sampling of the 36 homes we sold last month (the supposed slowest month of the year). If you are looking to buy or sell in 2012, you have come to the right place. We have agents that cover all areas of Central Florida from Daytona Beach to Lake Mary to downtown Orlando to Kissimmee to Lakeland and Tampa. Give us a call and we will get you on the path to selling your home quickly for top dollar or for negotiating you a great deal to purchase.

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com

We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida and metro Orlando. Sign up for our free email list of foreclosure and great Orlando house deals.

We buy unrepaired sinkhole damage houses in Florida. www.SellSinkholeHouse.com

Orlando real estate statistics November 2011

Sat, 17 Dec 2011 19:10:36 -0500

The Orlando Florida November 2011 real estate statistics have been provided by the Orlando Regional Realtor Association. Here is a direct link to the full MLS statistics details. Below is a summary breakdown of their numbers. This covers Orange and Seminole County FL, including cities like Orlando, Winter Park, Maitland, Windermere, Apopka, Ocoee, Altamonte Springs, Longwood, Lake Mary, Winter Springs, and Sanford.

Inventory New Listings New Pendings Under Contract Closed Days on Market

Nov 2010 15,192 3346 3243 8998 1936 96

Aug 2011 10,055 3264 3466 9502 2500 101

Sept 2011 9,931 3193 3304 9369 2243 102

Oct 2011 9,973 2997 3084 8937 2132 106

Nov 2011 10,136 3045 2887 8909 1950 99

Inventory is down dramatically (nearly 33%) in the last 12 months. It has somewhat leveled off with a very slight increase in units the last 2 months. Some of this can be attributed to the number of new foreclosures and short sales hitting the market. November was record month for new foreclosure filings in Central Florida. Also for the first time since December 2010, new listings exceeded new pendings. There are a lot of elements at play with all this and and I'm not sure what all it means. Hopefully it is just a temporary slowdown as we hit the Fall and Winter months.

Prices have remained basically steady but year over year they are up about 9%. The median price is at $115,000 and the average price is at $153,300 which is about the same prices as they have been since June.

Here is an additional analysis put out by the Orlando Realtor Association and the Orlando Sentinel for you to review as well. These analysis both discuss how short sales are actually making it to closing. Our office has closed a dozen or short sales in the last few weeks, so this is a trend I see as well. We would love to help you buy or sell a house in the near future - nearly 30 houses closed last month. I bought a great investment home in Casselberry just last month myself and have a few more in the pipeline. It is a great time to buy. Rates are low and deals are plentiful.

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com

We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida and metro Orlando. Sign up for our free email list of foreclosure and great Orlando house deals.

We buy unrepaired sinkhole damage houses in Florida. www.SellSinkholeHouse.com

Real Estate Negotiation Strategies - Part 3

Sun, 11 Dec 2011 11:43:42 -0500

This is the third article in this series on negotiating. Real Estate Negotiation Strategies - Part 1 -- Real Estate Negotiation Strategies - Part 2

Negotiation is a set of learned skills with various strategies to help you achieve the upper-hand over the other party. Sometimes negotiation can be easy and sometimes it can be quite difficult. In the first article of this series, we covered win-win negotiating, using power to your advantage, personality types, and body language. In the second article, we covered motivated sellers and buyers, asking for more than you expect to get, price bracketing, and some simple phrases to get the other side re-negotiating with themselves. This third and final article will get into some advanced negotiating techniques to help you close deals so that they end up in your favor.

Whenever you negotiate with someone, you want to make sure that you have all parties present. If a husband and wife or several partners are involved you want to make sure that you get every decision-maker together when you negotiate. Otherwise they most likely cannot make a decision and will end up re-negotiating with you in the future. So before you get into any serious negotiating, always ask if there is anybody else that will be assisting them in making the decision. On the reverse angle, when you negotiate you can often get the upper hand by having a second person on your team to assist in the negotiations. You can use the strategy of a “higher authority” to put the blame on a partner or some other person as to why you cannot sell at a certain price. Bank short sale departments do this all the time. Their undisclosed “investor” is not willing to cut a deal to make the short sale happen and the bank will never let you speak directly with this party that they are supposedly negotiating for.

This is one of the great advantages of having a 3^rd party negotiate on your behalf. A real estate agent or attorney acts as a professional negotiator and can actually help you get a better deal than you could on your own. This 3^rd party buffers out all the emotions from the transaction and allows you as a principal to only concentrate on the numbers and facts. On the other hand though, this can greatly separate the parties from all the body language, personalities, etc. that can help you in a negotiation, so there are some pros and cons. Also make sure if you do hire a 3^rd party to negotiate for you that this person has strong negotiating skills. Many attorneys and real estate agents are poorly trained and can often do a worse job than you could for yourself. Experience counts when we start talking dollars and cents.

Another classic negotiating strategy is “good cop bad cop.” You will see this portrayed in movies and crime shows. Two cops interrogate a suspect as much as they can. Then all of the sudden one cop (the bad cop) goes into a rage and starts yelling and threatening and storms out of the room. Then the remaining cop offers to give the suspect some water or a cigarette and starts saying don’t pay any attention to that other cop. I’m here to help you. All we need to know from you is where you hid the knife and this will all be over soon. The good cop goes easy on the suspect and gets him to open up. The reality is that neither cop is on his side but they used the strategy to get the information they wanted. In real estate two partners could very easily do this. One partner storms out all emotional and rattles the cage of the opposing side. Then the other partner sweet talks them into giving up the farm. Watch out for this tactic because lots of people know about it. If they try it on you, make sure to confront them and let them know you are aware what they are doing. Or simply tell the bad cop not to be getting all emotional about things and stick to the transaction at hand.

Once you have worked out the basic price and terms of a deal, the next step is putting it in writing. Oh the fun of paperwork. So many people hate it. Even if you are not a paperwork kind of person, make sure that you (or your real estate agent or attorney) are the one writing up the contract regardless of whether you are buying or selling. You can slip so many extra beneficial clauses into the deal simply by your side drafting the paperwork. Why do you think banks force you to sign their 10 page addendum whenever you buy a foreclosure from them? They want the closing to happen by their rules and not yours. In fact the more you are in control of the deal, the better chance of it closing and avoiding all those surprise last minute mishaps that tend to pop up. That means not only controlling the paperwork but also the various vendors like the lender, the title company, the home inspector, the insurance, etc. You cannot force the other party to use certain vendors but the more you are in control the smoother your deal will go.

Have you ever gotten down to a few days before closing or even right at closing and the other party wants to renegotiate something? It happens at car dealers all the time. You find the car of your dreams and the price is right. Then they sit you down to close and start throwing in all these add-ons. (Dealer fees, extended warranty, financing fees, etc.) Before you know it they have you paying an extra $1000 for a bunch of nonsense. Same with real estate deals. The seller gets a copy of the HUD-1 settlement statement and starts complaining about various fees. To make the deal close, the title company knocks down some fees, the Realtor eats the cost of a home warranty, and the buyer pays more closing costs. Things like this happen because the re-negotiating party knows that everyone just wants the deal to close. People will end up paying an extra $500 or $1000 at the last minute when they would never have done so weeks ago when they were originally negotiating. Or think of the tenant that knows they agreed to pay you late fees, but still pays the rent a week late and does not include the extra fees with their check. Often when people are in a good mood that they are finally closing or getting paid, they are vulnerable to this sort of re-negotiating. The easy way to counter-act this is to have an iron-clad contract and then stick to your guns. Make them feel guilty for trying to re-negotiate or slip something by you.

Tradeoffs are another tactic to use when the other side starts asking for more concessions. “If I do that for you, what can you give me in return?” is a great phrase to use. A few years ago after I had already negotiated a deal, the seller came back to me and said that he needed to wait another 3 weeks until after December 31 to close so he could postpone income taxes. So I asked the seller if I gave him an extension, what could he do for me? He gave me $500 off the price. When you ask for something in return, it does two things. One is it puts value on that concession that the other party apparently did not believe was there. Two it puts an end to the grinding away process because they know you will ask for something in return.

Occasionally you will reach a stalemate where neither party will budge on a deal. Everything has been negotiated as far as it can go but an agreement cannot be reached. If the stalemate is on a specific issue, the buyer insists on a new roof being installed and the seller refuses to install it, the issue can be set to the side and dealt with at a later time after the rest of the terms have been negotiated. If both sides are truly deadlocked, the only solution then becomes to change something in the negotiations. Make the parties separate for a few days and come back at a later time at a different venue after they have had a chance to reflect some more on the deal. Or bring in a 3^rd party, preferably someone that appears neutral, to evaluate the situation and see if something can be changed or approached in a different way.

There is a lot more to negotiating than I can write in three articles. So if you have questions on the best way to negotiate a particular deal, please do not hesitate to contact me.

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com

We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida and metro Orlando. Sign up for our free email list of foreclosure and great Orlando house deals.

We buy unrepaired sinkhole damage houses in Florida. www.SellSinkholeHouse.com

Great real estate deals we sold in Central Florida - November 2011

Fri, 02 Dec 2011 09:58:33 -0500

November 2011 is behind us and despite what the media says the Orlando real estate market is not slowing down. Inventory may be down to 2005 levels, but sales are strong. Check out some of these homes we sold last month.

Westpointe Hibiscus Crosswind

1. Westpointe Blvd, Orlando, FL 32835. This was a 2 bed/1 bath condo in Bermuda Dunes in the Metrowest area. Located on the golf course and minutes from Universal Studios and the attractions. Sold for $76,000 to a cash buyer.

2. Hibiscus Road, Casselberry, FL 32707. A 3 bed/1 bath handyman special house in the Queens Mirror area right off of Red Bug & 436. Inexpensive rental property that an investor snatched up for a mere $46,500. Remember we do property management too.

3. Jennifer Jean Drive, Orlando, FL 32818. 3/2/2 beautiful home in the Beacon Hill subdivision near Pine Hills. Remodeled with new kitchen and looking great. Sold to a first time FHA buyer for just $75,000.

4. Crosswind Circle, Orlando, FL 32825. 3/2/2 pool home in East Orlando. The Countrywalk subdivision is in a great location near the colleges and has community tennis courts. Sold for $129,900.

5. Honey Road, Apopka, FL 32712. 4/2/2 block home in Spring Harbor. Beautifully remodeled. This was actually a house that one of our investors bought wholesale and then fixed up for an end buyer to live in. They bought for $85,000 in the Spring and sold it last month for $131,000. Yes, house flipping is back with a vengeance.

6. North Street, Longwood, FL 32750. 4/3 house in the Sanlando Springs neighborhood. Sold to a new FHA buyer for $118,000.

7. Larry Drive, Deland, FL 32724. 4 bed/2 bath block home. Bank foreclosure that we wholesaled to a landlord. Great deal for a house this size. Sold for only $28,000.

This is a just a short sampling of the 25 closed deals we had last month. If you notice, only one of the above sales was a short sale or a bank owned home. There are plenty of regular old deals out there that people are selling retail. And the retail buyers are out there buying. Interest rates hover in the 3s still. More deals are headed for closing in December. We would love to help you buy or sell. Please contact us and we will get you started.

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com

We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida and metro Orlando. Sign up for our free email list of foreclosure and great Orlando house deals.

We buy unrepaired sinkhole damage houses in Florida. www.SellSinkholeHouse.com

Real Estate Negotiation Strategies - Part 2

Sat, 26 Nov 2011 13:12:37 -0500

This is the second article in this series on negotiating. Real Estate Negotiation Strategies - Part 1

Negotiation- It is all a big game to some degree. How do you obtain the most out of a transaction and still make the other side feel good about it? In the first article in this series we reviewed win-win negotiating, communicating in person, body language, personality types, and personal power plays. In this second article, we will discuss specific beginning negotiation tactics and strategies from both the seller and the buyer points of view.

In negotiations the preference is always for the other side to be more motivated to get the deal done than you are. You have heard the phrase “motivated seller.” This is who you want to be dealing with when you are in the house buying business. If the seller does not have a compelling reason to sell (foreclosure, probate, relocation, divorce), they can take their time and advertise the property or call all your competition and get everyone in a bidding war – exactly what you do not want as a buyer but love as a seller. All too often I see brand new investors that are hungry for a deal and they become “motivated buyers.” They get emotional about the transaction instead of using their head and focusing on the numbers and their exit strategy. You also see this when a buyer is being transferred with their job and needs to buy a house this weekend because they start work here in Orlando in three weeks. Knowing that the other side has additional motivation gives you power over them. On the other hand, you as an investor need to take the position as being the reluctant buyer or seller. You are in no need to buy this particular property because you are looking at four more this week. And you are in no emergency to sell this particular property because you can always rent it out or sell it to someone else.

Price and terms – the meat and potatoes of the deal. You have probably heard the saying before. “Make the other person provide the first number.” The idea behind this strategy is that if you are buying, the seller might offer a much lower price and better terms than you otherwise would have expected. If you are selling they might offer you a higher price and cleaner deal than you would have expected. While this is certainly ideal, as a seller it is often difficult to successfully advertise an item without a price on it. Exceptions might be at a garage sale, an auction, or a souvenir shop on a Caribbean island. As a seller if you can imply that an item has high value, you can sometimes get buyers to start with higher offers. So the beginning part of the actual negotiations is to get the other side to give out their price and terms before you do. This gives you the advantage of knowing just how far apart you actually are before you even start negotiating with them.

Always ask for more than you expect to get from the other person. This does two things. First you might actually get more from them. Remember the Bible says “Ask and ye shall receive.” Secondly by asking for more, you have items that you can negotiate away later if you have to. As a buyer, you might ask the seller to pay for some closing costs or a home warranty. As a seller, you might advertise that you are taking all the stainless steel appliances with you to your new house. But as the negotiations get tighter, you could give up some of those extra things in return for them meeting your price. The most important thing is to not make the whole negotiation about price. Shift some of the focus on the other items of the offer – the closing date, the financing terms, or the extra items like that home warranty. Getting them to agree to some of the other terms in the beginning makes it much easier to talk about price later on. If the negotiation boils down to only the price, then there is clearly going to be a winner and a loser or even a stalemate.

Never say “Yes” to their first offer even if it is a fantastic one. This does not mean to go into paralysis of analysis mode and sit on the offer for a week. But you can at least say let me step outside and call my partner. If you do jump on the very first offer they give you, the other side will typically think one of two things. One - They could have done better. Two - There must be a problem that they are not aware of. For example, a house is listed for $100,000. You offer $50,000 and they agree to it without any hesitation. The first thing you should think is “Wow what an awesome deal.” But instead you will probably be thinking you could have gotten it for $40,000 or worse that you better spend a ton of money on every inspection known to man because there has to be a problem that they are not disclosing. Certainly due diligence is important but like I said in the beginning negotiation is a big game. If you can, always do a little bit of back and forth even if it is something minor. This helps give that impression that you let them “win” a little in the negotiating.

Another example: The seller is asking $80,000 for her house. You calculate that the most you are willing to pay for it on a cash offer is $65,000. How do you beat down the seller’s price? If you offer her $65,000, surely she will try to get you to go higher. The key here is bracketing. If you have gotten to know the seller a little and are on friendly terms, you can delicately offer her $50,000 (while implying some flexibility) and add in a few “throw away” items (like leaving behind her washer/dryer and paying to pump out the septic tank). You have now set up your price range brackets. Seller is at $80,000 and you are at $50,000. Now if you can just get them down another $15,000 you will have your target price. People are often willing to compromise. Push for them to “split the difference” with you. In return they can keep their washer/dryer and you will deal with that septic tank yourself.

When you do negotiate it is not a bad idea to simply write down for yourself on a sheet of notebook paper the basic terms of your offer as you go back in forth. As you and the other side slowly move together on price and terms, take notes. I have seen inexperienced negotiators make blatant errors in how they counter-offer. A seller will first give $5,000 off their price, but in the next counter-offer drop it $10,000, and the next $15,000. The buyer starts thinking to themself, this seller must be more motivated than I thought. Every time he comes back with a counter-offer, he drops the price even more. Instead the opposite should be happening. Give your biggest price concession on the first counter-offer. Drop it $15,000, on the next $10,000, and then $5,000. That way the buyer sees that you are shrinking it smaller and smaller each time and that you are about done negotiating with them.

To wrap up this article I will leave you with a few key negotiating phrases. The first one is not really a phrase but rather body language and voice inflection – which pretty much require you to be negotiating in person. When someone gives you their price and terms, act shocked. Jump back and say “Wow, that’s a lot more than I expected” or something along those lines. Sometimes just that snap reaction will get someone to immediately start reducing their own price. It sounds corny but it often works. A second phrase to use is “You will have to do better than that.” Again it causes them to renegotiate their own price without you even counter-offering them. Thirdly is a phrase I heard years ago from Ron Legrand, “If I can pay you all cash and close on the date of your choice, what is the least amount you would take for your property.” That gets them to their bottom dollar and often you can still get them to come down a little more.

In the next article, I will get into some more advanced negotiation tactics and strategies. If I can help you in your negotiations or property analysis, please do not hesitate to contact me.

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com

We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida and metro Orlando. Sign up for our free email list of foreclosure and great Orlando house deals.

We buy unrepaired sinkhole damage houses in Florida. www.SellSinkholeHouse.com

Orlando Florida real estate market statistics October 2011

Wed, 16 Nov 2011 19:57:23 -0500

The Central Florida October 2011 real estate market statistics have been reported by the Orlando Regional Realtor Association. Here is a direct link to the full MLS statistic details. Below is a summary break down of the numbers. This covers Orange & Seminole County FL, including cities like Orlando, Winter Park, Maitland, Windermere, Apopka, Ocoee, Altamonte Springs, Longwood, Lake Mary, Casselberry, Oviedo, Winter Springs, and Sanford.

Inventory New Listings New Pendings Under Contract Closed Days on Market

Oct 2010 16,359 3984 3304 9369 2374 87

July 2011 10,349 2912 3244 9869 2294 101

Aug 2011 10,055 3264 3466 9502 2500 101

Sept 2011 9,931 3193 3304 9369 2243 102

Oct 2011 9,973 2997 3084 8937 2068 106

For the first time in about a year and half, the Orlando inventory went up slightly by 42 units. The inventory has somewhat plateaued because it only dropped by 124 units the previous month. October and the Autumn months are typically a slower time of year as school starts up and we head towards the holidays. New pendings still outpaced new listings for the 11th month in a row which is still a strong sign.

Prices continue to remain steady. The median price is at $112,700 and the average price is at $152,800 which is about the same prices as they have been since May. No big appreciation but no big price drops either. Prices are still a bit higher than they were in October 2010 though.

Here is an additional analysis put out by the Orlando Realtor Association and the Orlando Sentinel for you to review as well. Interest remain very low in the low 4s. It is a great time to buy. I am actively buying houses myself including 2 houses in October for myself. I would love to help advise you in your next home buying or selling decision.

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com

We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida and metro Orlando. Sign up for our free email list of foreclosure and great Orlando house deals.

We buy unrepaired sinkhole damage houses in Florida. www.SellSinkholeHouse.com

Real Estate Negotiation Strategies - Part 1

Sun, 13 Nov 2011 00:33:41 -0500

“Negotiation” has been called the highest paying profession in the world. That is not far from the truth. If you learn how to negotiate $20,000 off the price of a property on just one deal, think of how much time and effort it would take you to earn that kind of money at your job. Negotiating is a learned skill that you and I do every day in all sorts of transactions. Some negotiations are simpler and more natural like negotiating with your kids over chores or which movie to see. While some are more complicated like the sale of an ongoing business or settling a lawsuit.

A lot of talk goes around about win-win negotiating which sounds great in theory and certainly sounds warm and fuzzy. However both parties winning seldom if ever happens in real life. In life and in nearly all negotiations there are winners and losers. The vast majority of the time, the seller wants to sell for as much as they can with the least amount of terms and contingencies possible and the buyer wants to buy at the lowest price with the best terms and contingencies as possible. Somewhere there has to be compromise where not everyone gets exactly what they wanted. So a great negotiator has to look at win-win in a very different way. They win the negotiation but make the other party “feel” that they won as much as possible. In this series of articles, I will be going into detail on the art and skill of negotiating. It is not the most exciting or sexy topic but like I mentioned before it is one of the highest paying ones there is.

The best way to negotiate with someone is to do it in person. The further removed you are from the other party the harder it is to successfully negotiate with them. When you are face-to-face with the other party, besides the verbal negotiations you get to hear their various voice tones and inflections as well as watch all their body language. Negotiating online and even on the telephone makes it difficult to impossible to pick up on these non-verbal communications which often comprise 50% or more of what they are truly saying. I am certainly no expert on voice tones or body language, but I know it is much easier to tell if someone is nervous, angry, happy, sad, or even distracted when dealing with them in person. In person you can look in their eyes and shake their hands which can go a long way to help sealing a deal. If a person is avoiding eye contact or a hand shake then you know the negotiations are going to be that much tougher. A person with a closed posture (crossed arms, crossed legs, hands in pockets, scowl on face) is showing signs that they are less agreeable than someone with an open posture. A person leaning forward, nodding their head, and smiling is also showing more agreeable signs than someone sitting back and looking away indifferently. A person that touches their face repeatedly is often conveying a sign that they are nervous or being untruthful. But do keep in mind that not all body language is 100% accurate. For instance, a closed posture might mean that someone is simply cold and someone touching their face could have an itch. On the same note, you can use your own non-verbal communication and body language to “influence” the other party along with the words you are using. I have had so many people say that a big reason they dealt with me was because they “liked” me and I gave them good vibes. You can use your body language and voice inflection to further perpetuate those positive vibes in addition to the words you are saying.

Next there are personality types. Meeting in person with someone especially for some period time (say over a long lunch) allows you to gain some grasp on their personality. Some people are outgoing extroverts (sanguines). Some are quieter introverts (phlegmatics). Some are analytical numbers people who dig into all the details (melancholies). Some are pragmatic and straight to the point (cholerics). Most people have one leading personality type but have some traits of the others. But you will never know for sure if you do not spend a little time observing and getting to know them. If someone is a numbers person, then you want to make sure to re-iterate the numbers to them and maybe even write up a net sheet and review all their mortgage paperwork with them in detail. If someone is more of an emotional person, then you want to play more to those emotions and tell them how they will feel living nearer to their grandkids in California and out from under the burden of those big mortgage payments. There are whole books dedicated to non-verbal communication, body language, and discovering people’s personalities. It is important to at least be aware of these things and then consider educating yourself on them in order to make you a better negotiator and people person.

Whenever you negotiate it is always best to try to get the upper-hand before the negotiations even begin. In addition to being a scholar on body language and personalities, if you can create or give yourself any sort of personal “power” over and above the other person this can give you the extra leg up. Power may sound like a bad thing because we have so often heard the phrase that “Power corrupts.” However there are plenty of people that have power over others that are not corrupt at all – parents, teachers, and bosses all have power but most would not consider them corrupt. These are legitimate leadership roles that wield some power over others and thus a stronger negotiating position simply due to the fact of the title. Go into any bank branch and half the people working there are Vice Presidents or Assistant Vice Presidents. Sure sounds good and gives them a lot more credibility with negotiations. If you can give yourself a title like “Purchasing Manager,” it sounds a whole lot better than real estate investor or transaction engineer.

There are also powers like reward power and punishment power. Police officers, airport screeners, teachers, and even short sale asset managers wield some of this power. They have the power to make your life good or make it bad just depending on how you deal with them. Another type of power is that of expertise. If you can be known as an expert or guru in a particular field, it garners you automatic respect and a leg up on other people. Attorneys, doctors, and other professionals often use all sorts of complicated language that laypeople do not fully comprehend. They put all sorts of designation letters after their names JD, DDS, ABA, GRI, PHP, etc. that people often have no clue what they mean. But it makes them sound like they are experts in their field and surely must know more than you. Charismatic power is another amazing tool. Many politicians and religious figures have this. They use their charisma to manipulate people in all sorts of ways both good and bad. Charisma allowed President Clinton to still have strong ratings even after a nasty scandal and impeachment proceedings, and it allows Joel Osteen to pack tens of thousands of people into church to hear him preach.

There are some powers that anyone can use to their advantage in negotiating. Situational power is an obvious one. If your kids asked you for $20 for something they need 2 weeks from now, you might give them a hard time and lecture them about walking uphill in the snow to school when you were a kid. But if your kids wait until 7:00am just as you are walking out the door to some important meeting, you probably will not put up as much of a fight. The same goes in real estate negotiating. How many times have you seen someone give away a $1000 concession at the last minute just to make a deal close that they never would have given away weeks ago at the beginning of the negotiations? Another situational power is whose turf you do the negotiations in. If you go to someone’s home and negotiate at their dining room table, you are on their turf and they have the “home field advantage” over you. On the other hand if you can get them to meet you at your office, you have the advantage and have much more influence on getting them to sign on the dotted line. (If you do not have an office, you could borrow one from your favorite title company or Realtor or even meet at your frequently patronized restaurant or coffee shop.)

You might say that all these non-verbal communications, body language analysis, personality observations, and power plays are all a bunch of manipulative trickery. Maybe they are to some degree. They can certainly help you fare better in your negotiations. But more importantly keep in mind that you are not the only person negotiating. The other side is negotiating with you and they might be using these exact same strategies in their favor against you. This is why it sometimes pays to have an expert negotiator like a seasoned attorney or real estate agent in your corner when doing these deals. In the upcoming articles, I will go into depth on various direct tactics and tricks that can be used to further advance you into a more successful negotiation.

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com

We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida and metro Orlando. Sign up for our free email list of foreclosure and great Orlando house deals.

We buy unrepaired sinkhole damage houses in Florida. www.SellSinkholeHouse.com

New certification achieved - Professional Housing Provider, PHP

Sat, 05 Nov 2011 11:57:35 -0400

If you have not heard of this certification, it is because it is not a certification awarded by the local and national Realtor associations. The Realtor associations train you how to be a great Realtor which is certainly important and I have plenty of designations and certifications from them as well. This certification is from the National Real Estate Investors Assocation (NAREIA) and our local group Central Florida Realty Investors (CFRI). The Professional Housing Provider a/k/a PHP certification provides extensive training of both classroom and hands-on in a long variety of subjects - 60 hours of course work required. It actually took me a little over 2 years of training to achieve this certification. Check out the course requirements from NAREIA's website: http://nationalreiau.com/php-program/

Appraisal – 2 hours
Contract Law – 3 hours
EPA Regulations – 1 hour
Ethics – 1 hour
Fair Housing Law – 2 hours
Federal Regulations – 1 hour
Finance – 6 hours
Inspections – 2 hours
Insurance (Liability) – 1 hour
Insurance (Property) – 1 hour
Insurance (Worker’s Compensation) – 1 hour
Local Regulations – 2 hours
Management – 4 hours
Marketing – 2 hours
Negotiation – 3 hour
Purchasing – 2 hours
Rehab (Classroom) – 2 hours
Rehab (Hands-On) – 2 hours
Tax Law (Income) – 1 hour
Tax Law (Other) – 1 hour
Tenant-Landlord Law – 2 hours
Elective training - additional 18 hours

Keep in mind that when a Realtor tells you they work with investors and know about investors, seriously now, what do they really know? As the veteran broker of Sand Dollar Realty Group Inc., I can assure you that I know plenty about investing and have the certifications to prove it. Not to mention over 100 investment properties that I have personally bought and sold in Central Florida - over 15 just since January 2011. Go with a pro you know.

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com

We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida and metro Orlando. Sign up for our free email list of foreclosure and great Orlando house deals.

We buy unrepaired sinkhole damage houses in Florida. www.SellSinkholeHouse.com

Great home deals we sold in Orlando Florida in October 2011

Thu, 03 Nov 2011 17:31:20 -0400

October 2011 is behind us and more great real estate deals sold here in Central Florida. Check out some of the awesome properties that sold last month in metro Orlando.

Briarcreek Woodridge Dean Cove

1. Polaris Loop, Casselberry, FL 32707. 2 bed/1 bath villa in Summit Village. One of our regular investor customers fixed this property up and then listed with us using a limited service listing. Sold to a cash buyer after only 3 days on the market for just over $43,000.

2. Briarcreek Dr, Apopka, FL 32703. 3/2/2 pool home in Piedmont Lake Estates. Another one of regular customers listed this property with us. 18 days on the market and sold to a first time home buyer on an FHA mortgage for $135,000.

3. Woodridge Ct, Altamonte Springs, FL 32714. 3/2/2 in beautiful Country Creek. Remodeled to the nines. 5 days on the market - but what do you expect for Lake Brantley schools. Sold for full price $155,000.

4. Barnstable Place, Orlando, FL 32827. 3/2 home in the Villages of Southport near the Orlando International Airport. 7 days on the market and multiple offers - $73,000.

5. Bellavista Way, Orlando, FL 32825. 4 bed/2 bath home in East Orlando in the Islands subdivision. Sold for $85,000.

6. Dean Cove, Orlando, FL 32825. 3 bed/2 bath home in Dean Cove subdivision. This was a short sale with Wells Fargo. We got the deficiency waived for the borrower and they were ecstatic. Buyer got a nice vacation home for only $80,000.

7. Alatka Ct, Longwood, FL 32779. 7 bed/ 7 bath mansion in Alaqua Lakes. This was the former home of Actor Chris Tucker (Rush Hour movies). He had paid 1.5 Million for it nearly 10 years ago and done extensive remodeling. We sold it to a cash buyer for $1,050,000. Nice!

This is just a short sampling of the 28 properties that we closed during October. If we can help you buy or sell a great real estate deal in Central Florida, please contact me directly. And don't forget, we now do property managment.

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com

We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida and metro Orlando. Sign up for our free email list of foreclosure and great Orlando house deals.

We buy unrepaired sinkhole damage houses in Florida. www.SellSinkholeHouse.com

Haunted Houses from the real estate files

Sat, 29 Oct 2011 22:05:53 -0400

Anybody else ever experienced a haunted house or unexplained goings on? Over the last 20 years of buying and selling properties, I have had my share of encounters with supposed hauntings. Although I have never actually seen anything that I could clearly classify as a ghost or poltergeist.

The first house I want to feature was a bank REO house that I listed earlier this year. The house was abandonned when the asset manager first sent me out. Full of leftover stuff from the previous residents, enough so that it required a personal property eviction. The house always gave me bad vibes when I went in and out of it. So much so that I carried a firearm with me whenever I entered it. After about 2 months of waiting for the eviction, I visited the home and was dismayed but what I saw. The rear door had been kicked down and somebody or something had been in the home. The house did back up to a railroad track spur so I'm figuring it was either the ghost of a train watchman that had supposedly been killed on the tracks decades ago or else a crackhead soon to be a ghost if he runs into me while doing an inspection. Either way, I was glad to get that house sold and off my list.

The next house is a rental property I managed for years. Never had an issue for 5 years. We had one set of tenants that lived there for 4 of those years and never a complaint. Then we rented to two roommates that seemed to be bad luck to themselves and the house. House seemed to have constant repair issues while they were in there for a full 3 months before they decided to break the lease. One of the excuses they gave me for breaking it besides the repairs was that the house was haunted. Supposedly the blinds would move by themselves late at night even with all doors and windows closed. They claimed there was a ghostly old man in one of the back bedrooms that would hover over the bed at night. Nobody before or since then ever claimed to see anything. After they moved, I went there about 10pm one night and called out to the supposed ghosts to show themselves but never saw anything. But a few days later I filmed a video of the home to load onto YouTube. Check out the video below at 2:07 to 2:08 right after I enter the front door and go inside. (I say the words "This is the living room slash dining room" then the supposed ghost appears, then I say "the kitchen over there.") This something is small, dark, and transparent. It appears in the video quickly flying from the bottom left of the screen (see the ^^ marks below) and disappearing off the right of the screen - you may have to watch it several times to see it. I did not notice anything when I was physically filming the video but later when I replayed it at my office, I saw it and freaked out. I've shown the video to probably a dozen people and nobody can figure out what the shadowy image is. This was filmed in the middle of the afternoon with the sun straight overhead of the house. There are no shadows or bugs or rats in the house - house was completely empty. The image flutters like a bat or small bird and seems to change shape. Very strange. You be the judge ???

___________________^^_______

The last house was a home I showed several years ago. It was a bank owned foreclosure. In the living room, someone had written a big note in red magic marker. It said that the house was haunted and that there was something sinister in the back corner bedroom. Supposedly at night, all sorts of bright lights would flash and howling sounds could be heard throughout the night. The note also said that the rumor in the neighborhood was that previous owners back in the 1980s had done satanic rituals in the bedroom. It also said if you check the title you would find out that 2 of the previous owners had died and that 2 others had been foreclosed on - which was supposedly some sort of curse on the house. I did a title search online when I got back to the office and did confirm the 2 deaths and 2 foreclosures in the public records. My customer and I did look around that small back bedroom and although it appeared completely normal, both of us had the hair standing up on the back of our neck while we were in that room. I wish I would have shot some photos but I just wanted to get the heck out of that place.

I'm still not convinced about anything paranormal but try to keep an open mind. Happy Halloween!

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com

We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida and metro Orlando. Sign up for our free email list of foreclosure and great Orlando house deals.

We buy unrepaired sinkhole damage houses in Florida. www.SellSinkholeHouse.com

The Skinny on the New HARP Refinance Program

Wed, 26 Oct 2011 09:20:56 -0400

The HARP program is designed to help people refinance their current mortgage at new lower rates. This article gives a lot of the basic details about the program along with some frequently asked questions. My hope is that the lender overlays do not get in the way of people trying to refinance. Seems like the lenders always have their own agenda.

Via Melissa Zavala Realtor® North San Diego County Homes (Broadpoint Properties):

The HARP (Home Affordable Refiance Program) will be modified soon, government officials say. Many more homeowners will be eligible for the program. Here's what you need to know about these modifications:

HARP General Information

The Home Affordable Refinance Program (HARP) is a government mortgage program, first introduced in 2009 as a means to help underwater homeowners.

HARP allows “underwater” homeowners to refinance their homes, but there are many criteria necessary to qualify. HARP is for mortgages secured by Fannie Mae and Freddie Mac only.

The Treasury Modifies HARP

When HARP was first launched in 2009, the government said that the program would help millions of otherwise-ineligible U.S. households to obtain a refinance of their mortgage. Unfortunately, only 838,000 homeowners have used the HARP program. As a result, HARP has been accused of missing the mark.

On October 24, 2011, there was a major announcement made about changes to the HARP program. The biggest change is that some homeowners who are significantly underwater can now qualify for the program.

Here are some answers to commonly asked questions about the new revamped HARP program (HARP 2.0):

What Is HARP?

HARP was started in April 2009. The government calls it Home Affordable Refinance Program.

In order to be eligible for the HARP refinance program:

Fannie Mae or Freddie Mac must back your loan.

Your current mortgage must have a securitization date prior to June 1, 2009.

If you meet these two criteria, you may be HARP-eligible. If your mortgage is FHA, USDA or a jumbo mortgage, you are not HARP-eligible.

How do I know if Fannie Mae or Freddie Mac has my mortgage? Contact the agents at Broadpoint Properties and we can help you to determine whether Fannie Mae or Freddie Mac has your mortgage. You can also use lookup tools on the Fannie Mae and Freddie Mac websites.

If Fannie Mae or Freddie Mac holds my mortgage, am I automatically eligible for the Home Affordable Refinance Program? No. There are a number of criteria. Having your mortgage held by Fannie or Freddie is just the beginning.

What if neither Fannie Mae nor Freddie Mac has a record of my mortgage? If neither Fannie nor Freddie has record of your mortgage, you are not eligible for this refinance program.

Am I eligible for the Home Affordable Refinance Program if I'm behind on my mortgage? No. You must be current on your mortgage to refinance through this program.

Will the Home Affordable Refinance Program help me avoid foreclosure? No. The Home Affordable Refinance Program is not designed to delay, or stop, foreclosures. It's meant to give homeowners who are current on their mortgages, and who have lost home equity, a chance to refinance at today's low mortgage rates.

Is there a loan-to-value restriction for HARP? No, there is no loan-to-value restriction. All homes (regardless of equity) are eligible for the HARP program—just as long as the borrower and the loan meet all of the other criteria.

What's the biggest mortgage I can get with a HARP refinance? HARP refinances are limited to your area's conforming loan limits. In most cities, the conforming loan limit is $417,000. However, in San Diego County, the current confirming loan limit for a single-family home is $546,250.

I am unemployed and without income. Am I HARP-eligible? No. Income verification is required for the HARP refinance program.

While this program will open up opportunities for responsible borrowers who are significantly underwater, it is definitely not a salvation for most of those sellers participating in short sales. So, before you get super excited about your refinance, make sure that you qualify for HARP 2.0.

Photo: flickr creative commons by Pablo Manriquez

Melissa Zavala
BROKER/REALTOR® ● DRE #01324959

BROADPOINT PROPERTIES, INC.
760.839.3838

Search San Diego County Homes For Sale | Search Riverside County Homes For Sale
Southern California Short Sale Support | Short Sale Expeditor Negotiation Services

If you enjoyed this post, why not connect with me in these other communities?

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com

We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida and metro Orlando. Sign up for our free email list of foreclosure and great Orlando house deals.

We buy unrepaired sinkhole damage houses in Florida. www.SellSinkholeHouse.com

Economic meltdown - the warning signs were ignored by so many

Fri, 21 Oct 2011 16:09:28 -0400

These videos are a few years old, but they re-iterate the points. This "Great Recession" did not sneak up and surprise attack us as so many people in Washington and elsewhere claim. Just look at some of these quotes for both sides of the political aisle. It is very disheartening to see all those warning signs being swept under the rug by people that are STILL in power. Washington truly needs to be cleansed.

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Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

407-389-7318 / 1-877-389-7318 www.SDRhouses.com www.WeBuyHousesFlorida.com

We sell foreclosure, short sale, and bank owned REO house home throughout Central Florida and metro Orlando. Sign up for our free email list of foreclosure and great Orlando house deals.

We buy unrepaired sinkhole damage houses in Florida. www.SellSinkholeHouse.com