Cook-Aleman Team - Orlando Real Estate

Florida Real Estate a Lure for Brazilians

Jennifer Cook & Raul Aleman — Tue, 17 Jan 2012 19:49:00 GMT

Brazilians love Florida; approximately 1.8 million of our neighbors to the south intend to visit through 2013 and Florida's realtors hope to convert these visitors to home buyers.

Representative of Florida's realtors, along with Governor Rick Scott and John Sebree, Florida Realtors vice president of public policy, traveled to Brazil recently hoping to encourage these prospective visitors whose country has one of the world's healthiest economies, to buy a home in Florida. Press coverage was extremely positive and stressed the beauty of Florida and its affordability for international buyers.

Emphasizing that Florida's realtors can help Brazilians find the perfect property, the delegation was able to generate at least eight stories about Florida real estate. Florida Realtors also promoted Florida real estate with a booth at FIESP (Federação das Indústrias do Estado de São Paulo) and meetings with two Brazilian real estate associations in hopes of building stronger ties between real estate professionals.

Brazil experienced a 44 percent increase in visa applications from 2010 to 2011, with 820,000 visas processed during 2011. Expecting visa applications to surge to 1.8 million by 2013, the U.S. plans to double the number of agents issuing visas in Brazil.

Source: Florida Realtors

Jennifer Cook, Raul Aleman and the entire Bahia Realty Group team of real estate professionals welcome the opportunity to speak with you personally to discuss how to help you find, buy or sell your Orlando home or real estate investment property; secure mortgage financing; or help you relocate to the Orlando area. Please call 407-956-5443 or email info@OrlandoRealEstateLink.com for assistance.

Visit: www.orlandorealestatelink.com for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

Florida's Existing Home and Condo Sales Show Growth

Jennifer Cook & Raul Aleman — Tue, 17 Jan 2012 19:46:00 GMT

According to Florida Realtors® latest housing data, sales of Florida's existing homes and existing condos continue to climb. In November 2011, 12,993 homes sold statewide: an 11 percent increase over the number of homes sold in November 2010. Seventeen of Florida's metropolitan statistical areas show a rise in existing home sales in November, while ten metropolitan statistical areas reported an upswing in existing condo sales.

Florida Realtors Chief Economist, Dr. John Tuccillo, attributes this to two factors: prices are stabilizing and sales are increasing. Although sales have not increased significantly, they are on an upswing. As lenders become more adept at dealing with distressed properties, this upswing is destined to continue.

Although homes sales are rising, statewide sales prices for existing home have not increased past the median price of $130,600 seen in November 2010. Analysts from the National Association of Realtors® attribute this to a distortion of median prices caused by the large number of distressed properties on the market.

The National Association of Realtors® reports that nationwide, the October 2011 median sales price of for existing single-family homes was down 5.8 percent to $161,600 from the previous year. October resales price was reported in California at $278,060 and in New York at $215,900.

Florida's year-to-year comparison for condo sales sold statewide in November 2011, rose 2 percent from the prior year with 5,464 units sold in 2010 to 5,590 units sold in 2011. The statewide median price in November 2011 showed a 4 percent increase from $83,000 in November 2010 to $86,700 in 2011. According to the National Association of Realtors ®, nationwide, the median condo sales price in October 2011 was $160,300.

It is expected that the housing market will improve as Florida's economy continues to grow, housing prices stabilize, and record low mortgage rates continue to encourage buyers.

Visit: www.orlandorealestatelink.com for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

5 Tips for Finding & Hiring the Best Property Manager

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 21:49:00 GMT

When you are talking about investing in the real estate market, it is important that you have the services of an extremely efficient property manager to manage things for you. There are many property managers you will come across, but you need to review them carefully and pick and choose the right one to handle your work. How exactly do you do that? Let us look at some of the top things you need to look at before hiring a property manager to ensure that he has your best interests in his mind.

1. Any property manager should be extremely knowledgeable in his sector. He should know his facts and figures correctly. He should have complete and correct information about the real estate rules and regulations. He should be crisp and clear in conveying the facts to you.

2. He should be ethical and honest. He has the complete onus on behalf of the owner and his duties revolve around collecting rent, security deposits and various other things that will be the basis for the reputation of his owner or company.

3. He should have great communications skills. He should be able to convey what he wants clearly to the tenants and the feedback should be conveyed to you. He cannot be someone who sweet talks or beats around the bush. If he does not listen to you effectively, then he can never be a good manager. He has to be someone who listens and then talks, with your best interests at heart.

4. A good property manager must be pro active. He is someone who is constantly on his feet and eager to keep himself updated with the latest happenings in the real estate market. He has to be aware of the latest trends, the swings in the prices, what others are offering etc and he should be able to use this information to better the business for you.

5. He should have a flexible approach and an excellent follow up capacity. It is important to deal with different tenants differently and it is important to be neutral in proceedings. It is also vital to never lose patience, keep following up on the different tasks and exhibit a great capacity to multi-task.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

8 Tips for Buying & Investing in a Rental Property

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 21:48:00 GMT

If you are looking for some solid money making investment, you can consider rental property. However, you have to be prepared for a lot of research, a substantial amount of financial commitment and also a role in maintenance of the property.

Let us look at a few tips that can help us in purchase of a rental property.

1. The first and most important step here is to ensure that your personal finances are proper. Never even think of buying a rental property if you do not have enough savings to fall back on. It is important to remember that you will be fully responsible for mortgage payments and repairs if there is no tenant.

2. Take time out, talk with a mortgage lender and find out if you can afford to actually make an investment, before spending time in looking for property. You have to be pre approved for an investment loan.

3. Do your homework and conduct a research on going rents. You should speak to real estate agents, property managers and other people in the area so that you can fix on what you can charge for rent.

4. Always makes sure you choose properties in good locations. The quality of the neighborhood is very important if you are looking at having good tenants. Also, if you plan to manage it yourself, make sure it is close to your house.

5. It is important to have professional inspections of the property made so that you can pre determine what are the repairs that have to be made and make your purchase offers accordingly.

6. Make sure you have enough insurance. You have to have liability insurance just in case someone is hurt when they are living in or visiting your rental property.

7. Make sure you are up to date on the landlord-tenant laws. There are many state and federal laws that you cannot violate.

8. It is always better to consider hiring the services of a property manager. These people are well informed and they can make sure the entire process is hassle free for you.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/

4 Reasons Why This is the Best Time to Buy or Invest in a Home

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 21:47:00 GMT

If you're thinking about investing in a rental property, this is the best time to buy a house or invest in one. The property prices right now have hit an all time low. The interest rates right now are also extremely low. Home prices are dropping by the day and surprisingly home sales are also going down. Foreclosures are resulting in a lot of houses going out into the market and there is massive shadow inventory going into the market. The supply for houses is far outweighing the demand right now and if you qualify for buying a home, there can be no better time than now. It works out way better than renting a house to live in.

Let us look at some of the top benefits why you should buy a house right away.

1. The worst of the price declines is more or less over. Today, we are potentially at a point in time where we have moved away from the steeply falling prices of housing towards an extended period of stabilization of prices.

2. Mortgage rates are extremely low today. It works in your favour if you have the money to invest in housing today. Currently the interest rate is 4.6 percent on a 30 year fixed rate and it is 3.78 percent for a 15 year mortgage. The 2012 forecast is 5.7 percent.

3. Qualifying for a mortgage is likely to get harder in the coming years. Whether the government backing is scaled down or whether it disappears once and for all, the end result is likely to be higher borrowing costs.

4. You are likely to find very few serious buyers these days who are actually looking to make a deal. It is very less likely that you will find yourself in a bidding war today. You can negotiate much more effectively and to your benefit with the sellers who are too eager. Being a little ahead of the curve will definitely allow you more elbow room.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

8 Reasons to Buy a New Home Rather Than Foreclosure or a Short Sale

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 21:46:00 GMT

Many home buyers are influenced by the idea that they get the best values in house purchase in today's market through foreclosures. While, the fact remains that you may get good deals out of foreclosures, you cannot deny the fact that buying a new house has many more advantages when compared.

Let us look at some of the top reasons why you should go in for a new house.

1. When you purchase a new house, you are normally covered and protected by a warranty. In case of the possibility of something going wrong, the house is well covered by the builder's warranty on materials and workmanship as well as the structural warranty of 10 years. There is no fear of unforeseen repair costs in the near future.

2. If you are keen on buying a new house, there will be many builders who will offer you special incentive plans. These plans can help you qualify for home owning and can also help you save a lot of money.

3. Buying new houses take relatively lesser time. You are dealing directly with the builder and talking to him and hence you will definitely get prompt replies.

4. You can pick and choose from a variety of options in terms of the house, the neighbourhood, the community etc.

5. You get to customise your house while the builder is building it. You can have your say in everything about your house as you own it. You can customise your flooring, tiles, cabinets etc.

6. You are the first owner and hence everything is new and sparkling.

7. You are free from the stigma that is attached to buying someone else's home. You do not have to worry about the feng shui not being good or the home being unlucky or the general feeling of buying something that is "used" or "second hand".

8. You will not have to worry about any maintenance costs as the drainage, electricity, cleanliness etc will all have been taken care of by the builder and there will be no nasty surprises after signing the deed.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

Top Reasons to Buy a New Home Rather Than a Pre-Owned Home

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 21:44:00 GMT

Purchasing a home will be one of the biggest decisions you will ever make. And hence, it has to be one that has to be very carefully thought about. There has always been a debate about whether buying a new home is better or is it better to go in for a pre-owned home. The number of advantages that owning a new home has, far outweighs that of buying a pre-owned house. Let us look at some of the top reasons why buying a new house is always better than going in for a pre- owned house.

1. When you purchase a new house, you will be getting the latest architectural designs that provide you with floor plans and the entire layout is designed in a way that it suits today's lifestyle.

2. Many builders are coming up with the concept of "green" homes. These constructions come with enhanced energy efficiency features. These features are designed to make your house a comfortable haven for you - be it summer or winter. Simultaneously, they also lower your electricity bills.

3. When you buy a new home, you can customise it as per your own tastes and desires. A new home customized by you is actually a reflection of who you are and what you are.

4. Any new house gives you a builder's warranty. There is a structural warranty for 10 years. There is also a 2 year manufacturer's warranty on appliances and a one year warranty on all the maintenance structures by the builder (drainage, wiring, electricity etc).

5. When you purchase a new house, you can avail of many incentives that are offered by the builders, which can in turn save you lots of money and get you a great deal.

6. You are free to select a house, builder, neighbourhood, floor plan, community etc as per what matches your own personal tastes and desires.

7. Many new constructions offer additional amenities like parks, jogging tracks, pools, tennis courts, clubhouses, gyms etc within the housing community, which aids as a great venue for socialising, exercising etc.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

Top 10 reasons why you should own a home than rent it

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 21:43:00 GMT

Today is the world of foreclosures and hence it is but obvious that all the buyers of houses are focusing on financial reasons for buying of houses. However, ownership of a house has its own set of emotional plus points. According to the Met Warner Center- a condo developer in California, following could be the top reasons why owning a house is better than renting one.

1. You own your house. You will have no landlord putting up any conditions on you. It is your own house and hence you are free to make all the decisions on your own.

2. Each and every deduction can be taken care of by you alone. Amounts like the interest of mortgage, property taxes and various costs of other nature, that are involved with buying a home, can be deducted from federal income taxes.

3. Currently, the cost involved in the borrowing of money for mortgage is really very low. If you are looking at buying a house, there is no better time than this to venture out into the market.

4. The money that you are paying as rent is something you are giving away. Once you have given it, it is gone forever. However, when you are paying your mortgage payments monthly, you are building home equity ownership interests.

5. Home equity provides you with a viable savings plan option. In case of dire emergency, you can always sell it and make up to $250,000 cash. That too without the need of any ownership of any federal income tax on the profit.

6. Owning a house gives you the power to predict your expenses. Unlike rent, when you are paying a fixed mortgage for your house, it does not get more and more expensive over time.

7. When you are buying a house, you get to pick and choose. You can choose from your neighbourhood to design to style to range of prices.

8. You get to add your own touch to your house. You can decorate it as you wish and renovate it when you want to. You can pound in nails, stick pictures on the walls, paint them whatever colour you like, keep plants, get a pet, and do whatever you want as it is your house.

9. You get a chance to try your hand and contribute your bit at building your own friendly community. You live in a neighbourhood and you can join hands with your neighbours and work hard at maintaining the local schools, roads, gardens and more.

10. You get to spend your hard earned money on your house and in turn on yourself.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

Advantages of Owning & Investing in a Rental Property

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 21:42:00 GMT

If you have money that you want to invest, you may want to invest in properties and gain some rental income out of it. Many people prefer to own many properties, where they rent out most of them and make income. Rental properties have a lot of benefits. Let us look at some of the best advantages of owning multiple properties, where one or more of them are rented out.

Rental properties are investments that pay for themselves. Though you make the down payment when you are buying the property, the remaining part of the mortgage usually comes from the rents that are obtained once you rent out the property.
Rental properties eventually lead to a profit which can be obtained in two ways. The first part is that the property prices always appreciate and hence if you want to sell your property in a few years, you can definitely make a profit out of it. Also, the money that you get through rent, can be used to renovate or refurbish the property, which only adds to its value.
Rental properties normally have the ability of pay off their purchase price. However, for this to happen it is important to include the cost of maintaining the property while calculating the final profit.
Rental properties are excellent for getting deductions on taxes. These properties are subject to depreciation, maintenance costs, insurance, interest on mortgage etc all of which are feasible for deductions. This in turn allows you to save a lot of money.
Rental properties give you a chance to develop new skills. If you are planning to handle the maintenance of the property on your own, you will have to take care of many small small issues like repair, plumbing, electric work etc. Looking after such things yourself will help you to develop many practical skills, which can prove extremely useful in life.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

Signs of Improving Housing Market

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 21:41:00 GMT

According to Florida Realtors Association, existing home sales have gone up by 10 percent with a total of 15,036 houses being sold state wide as compared to 13,723 houses being sold in September 2010.

If you have to compare the sale of condo units in Florida on a year to year basis, there has been a 10 percent gain this year as compared to the previous year. The state wide existing condo median sales price last month was $87,200; a year earlier, it was $81,800 for a 7 percent increase.

If you want to keep a track of where the real estate industry is truly headed, it is very important to keep your eyes scanned on the fundamentals. It is these fundamentals that determine the whole course of prices and construction. During the last decade's historic run-up in prices, Fortune repeatedly warned that things were moving too fast.

The housing prices today are extremely low and there are not many new constructions coming up at a rapid state. This is because there is an incredibly low demand for buying houses these days. People are not sure whether they should invest in real estate or no. Also, due to foreclosures, there is lots of shadow inventory entering the market and hence the supply of houses is far outweighing the demand. Financially qualified buyers are still being denied home loans because of overly restrictive lending requirements, and that's a significant obstacle to the housing recovery.

One of the most overlooked statistical trends in all of real estate is the growth in home sales, both single-family and condo, in the state of Florida. There has been an upward surge in sales since January 2011. There is a certain level of stability in the market that is helping the situation.

Historically low mortgage rates and stabilizing home prices all across Florida's local housing markets are proving to be major attractions for potential buyers. The affordability conditions in the housing sector are extremely favourable right now for house buyers. Hence, if you qualify for buying a house and if you are looking at investing in the real estate, you should enter the market now. You will definitely get a lot of options and great deals.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

Benefits of Working with a Buyer's Agent

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 21:39:00 GMT

Buying a home is a really huge decision and hence you have to make sure that you do not really compromise on any aspect. More than the actual process of buying the house, searching for one is more tedious. It is always advisable to work with a good buyer's agent. This can help you make the entire process relatively hassle free. The buyer's agent always makes sure that your best interests are put forward at the time of the transaction.

Let us look at some of the benefits of working with a buyer's agent.

1. A good buyer's agent makes sure that your position is never compromised upon. He will not steer you off into a specific company listing by a specific agency or compromise on your behalf in terms of bargaining. He will work with you and not play a double role of working with you as well as with some other agent or company.
2. A good buyer's agent will try and decipher the seller's motivation so that you can tailor your offer accordingly. He should ideally have spoken to you in detail prior and should be able to have a sense as to whether you can advance a offer of 10 or 15 percent off the list price without actually offending the seller.
3. The agent should be able to provide you with the true days on the market for any for-sale house in your area.
4. A buyer's agent will make sure you use a qualified, objective home inspector that will treat you like a client. The buyer's agent will also know how to handle or when to avoid a home that is for sale by owner, or FSBO as many such sellers balk at paying any commission, which then puts the commission onus fully on you.
5. In case of purchase of a new construction house, a good buyer's agent can advise you on many matters like rights of cancellation, promotions and help you to negotiate to your advantage.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

International Buyers Revitalizes Florida Real Estate Market

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 21:35:00 GMT

An international report reveals the following facts regarding the investment of international capital in the Florida real estate market.

Canadians form 39 percent of the international flock of buyers who spent $12.7 billion on residential real estate in Florida in 2010.
According to data from the National Association of Realtors and Florida Realtors, Brazil is related to 8 percent of the purchases. Everything from home prices to shopping and even travelling to Florida is very affordable for Brazilians today
UK and Venezuela have tied at 7 percent with each other as contributors to purchase.
Germany, France, Argentina, Columbia, Australia, Mexico and Spain form the balance of the buyers.
In 2010, these international buyers generated $3.8 billion in sales in Miami/Miami Beach/Fort Lauderdale market alone, according to NAR.
More than 86 % of the transactions in Florida that involves international buyers are normally completed in cash.
Only 12 percent of the foreign buyers plan to spend more than six months a year in their Florida properties, compared to 16 percent who plan to occupy their places for less than one month a year.
Overall, foreign buyers account for 26 percent of Florida's $48.8 billion in residential re -sales.
Nationwide, foreign buyers account for only 3 percent of residential real estate transactions.
The Orlando market in Central Florida, where Walt Disney World is located is an extremely popular destination and it had the second-largest share of foreign buyers in the state, with a 14 percent share, or nearly $1.8 billion in sales.
The Tampa/St. Petersburg/Clearwater market on Florida's west coast earned the No. 3 ranking, with an 11 percent share, or nearly $1.4 billion of sales.
The top ten spots that are a favourite amongst international buyers as far as housing properties are concerned are as follows:-

1. Cape Coral

2. Miami

3. Ft. Lauderdale

4. Naples

5. Ft. Myers

6. Miami Beach

7. Kissimmee

8. Orlando

9. Jacksonville

10. Tampa

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

Important Tips for Buying a Home in Orlando

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 21:27:00 GMT

Buying a home is a very important decision. Whether you are going for a new house or you are planning to buy a pre-owned house, the decision needs to be very carefully thought through. You need to do your background homework, your research and be aware of all facts and figures before making any decision. Orlando in Florida is steadily becoming a favourite hub for all the house buyers. Let us look at a few tips that can be helpful when you are considering buying a home in Orlando.

If you are buying a new construction home in Orlando, it would be good if you can take note of the following points.

Reputation of the builder, his experience, feedback on him from his past consumers etc.
Standard features included in the base price
Check on stuff like the roof pitch, ceiling height, architectural design. Flooring systems, quality of wood and other materials used in the construction.
Check on drainage, electricity, wiring and other maintenance items.

In general, it would also be good to keep these in mind.

It is always better to get pre-approved. It is a simple and easy process and does not cost you anything.
Take your time and chat with a number of real estate managers till you find one that you are comfortable working with.
Determine the location and list down and prioritise the factors that you want in your house.
It is good to run a check online and see the price trends in the location that you desire.
Select a few properties and start reviewing them along with your real estate manager.
If you are buying a pre-owned house, check on electrical wires, pipes, air-conditioning, heating, insulation in the attic, patio, garden etc
Look at the house from outside. Check the foundation. Check for water damage, cracks etc.
Hire a home inspector and go with him when he inspects your house.
Post all these, you can start making negotiations for the price.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

Foreign Buyers - Tips & Consideration for Buying a Home in Florida

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 19:30:00 GMT

Foreign investors see Florida as a stable and a secure place to invest in real estate. They can easily purchase property here unlike some other countries where it is very difficult for foreigners to own real estate properties. The fall in the value of the U. S dollar and also extremely low real estate prices in addition to shadow inventory and foreclosures are making such investments even more attractive to foreigners. Though real estate property is easy to purchase, there are a large number of considerations to keep in mind if you want the deal to be smooth and hassle free later.

Purchasing real property directly is not always the best choice, so maybe it is ok to look at other entity structures. Besides purchasing property, there are several business structures available for purchasing real property through.
It is also possible to purchase real estate through several types of corporations and pass through entities. Non-recognition transactions can be very complicated. It is highly recommended to hire the services of a tax professional when performing these transactions.
Consulting with a good tax accountant or tax lawyer who is familiar with applicable laws can help a foreign investor to limit their U.S. tax exposure.
Changing the ownership structure after the fact, can be time consuming and costly though it may still be possible to avoid income tax. Real estate is also often also part of reorganizations which can be structured in a way to defer income tax liability.
It is important for foreign investors to understand that property transfers will often have tax consequences as well regardless of the structure.
Appointing a professional management company to manage and maintain your home in your absence is vital. It is also extremely important if you are planning to give your property out on rent. It is better to have a company manage all the affairs for you.
A foreign investor can purchase property directly as an individual, through a domestic or foreign corporation. A foreigner can also receive real property in a trust, as part of an inheritance or as a gift.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

Florida Real Estate Market Facts: The Impact of Shadow Inventory

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 19:29:00 GMT

Shadow Inventory is a term that we are getting to hear more and more often. What exactly does this term mean? In basic layman terms, shadow inventory refers to the houses that have been either placed in foreclosure or those that have been owned by lenders as a result of the loans being overdue by at least one payment.

The presence of shadow inventory is felt everywhere in Florida, thanks to the "for sale" signs that have become common in almost every street there. We cannot exactly pin point the size of the shadow inventory that is available in the Florida Real Estate Market. As per the Florida Realtor's Association, it is anywhere between 1.6 million to 7 million homes.

There can be a couple of situations here. Banks may slowly release the shadow inventory into the market due to the foreclosures bringing down home prices. It may also happen that there is a balance between the foreclosures and the sales and hence the market will be stable. This would cause the supply of homes to be restricted.

Another scenario would be if all the banks dropped all the homes they owned in the market. This will definitely cause an increased supply of houses in the market which in turn will affect the house prices negatively all across the market.

It is not just banks but also homeowners who control the number of houses in shadow inventory. A home owner who is in trouble regarding this can decide if he wants to pay the mortgage, seek mitigation or simply walk away from the scene.

Considering the seriousness of the situation, the lenders have started looking at various alternatives for foreclosure. Short sales have gone up in number. The whole process of making a sale of a house for less than its ownership value has become more organised.

Banks are also making many deals with house owners who agree to give the keys to a house than sit and face a legal battle. There are so many cases where the lenders are giving cash as a means to convince the borrowers in order to leave their houses without any hassle.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

Florida Real Estate Market Facts: Demand for Rental Homes Increases

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 19:28:00 GMT

The most popular and much awaited October edition of the U.S. Economic and Housing Market Outlook by Freddie Mac was finally released and it clearly shows that the demand for houses on rent is increasing fast. Also, the report has labelled the new multifamily sector as a strong and positive signal for the housing industry in the U.S. There are a variety of reasons for the rise in demand for rental homes.

Let us look at some of the highlights of the Freddie Mac report that helps us understand this scenario better.

Spanning over the period of one year that ends in mid of the year 2011, the Census Bureau came up with a report that stated a net increase of almost around 1.4 million households - all of which has moved into rental housing. This is a huge leap. It reveals almost a 4% hike in the number of households with tenants in a short period of just one year.
The rate of home ownership in the U.S. fell at around 1.5 percent as compared to the past year. It was 66.9 % earlier and it dropped down to 65.9% this year. For people who are under 25 years of age, the rates of home ownership fell around 4.4% and for those people who are between 25 to 29 years of age, it dropped by 7%.
The price one has to pay as rent for apartments is slowly seeing a change in trend. During the recession period of 2008-2009, the rent rates had fallen extremely low. You can see them rising slowly but steadily now.
There has been an upsurge in the start of many new apartments' constructions with at least 20 residences, in this year. In fact, in the second quarter of this year, it actually reached its highest point ever since the end of the year 2008.
In recent weeks, the treasury rates have been extremely low. This in turn points to the fact that mortgage rates have hit rock bottom especially with the multi family concept picking up.

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Florida Real Estate Market Fact - Mortgage Rate near Record Low

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 19:27:00 GMT

According to Freddie Mac, the rate on the 30 year fixed loan went up to 4.12 % as compared to the 3.94% that it was in the week prior. It has fallen below 4 % for the first time in history. There has also been a new record set on the average rate on the 15 year fixed mortgage as it increased to 3.37% from 3.26 %. This one in particular had become a popular option for refinancing.

The housing market has been struggling with very less sales despite the falling home prices and extremely low rates of mortgage in the recent years. The rates have been below 5 % for most of last year but still, the track record of the sales of new houses are as less as they were during the days almost half a century back.

Many Americans are viewing the purchase of a house as too big a risk in this economy. Unemployment rates have been high for a while and also raises and promotions at work are scarce. Even though the rise in the number of foreclosures has brought down the prices of houses, many people are not able to qualify for the purchase of houses. Banks are insisting on higher scores of credit and at least 20 percent of the sum as down payment especially for first time buyers.

Mortgage rates have relatively hit an all time low mainly due to the reason that they tend to track the yield on the 10 year Treasury note. The debt crisis that hit Europe as well as the flexible nature of the U.S Economy worried investors and hence most of them have pulled their money out of the volatile stocks and shares and have invested it into the safety of the Treasury.

However, for those who actually qualify for buying a house, this is one of the best times to hit the markets. You will have a wide variety of options to choose from and once buyers know that you are really interested, they will vie with each other to make you choose their property. There has been a boom in a variety of refinancing options and it cannot get better for home buyers.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

10 Reasons to Hire a Property Management Company Rather Than Manage Your Own Rental Property

Jennifer Cook & Raul Aleman — Mon, 14 Nov 2011 19:17:00 GMT

If you have a property or multiple properties that you are looking at giving out on rent, it is always better to hire a property management company rather than manage everything yourself. This company can take care of all your maintenance as well as customer service renting issues. Once you invest in a property management company, it will be a good way to get good returns for your investment and also you will have someone to take care of all the issues and will not have to devote too much of your time to dealing with renters.

1. You do not have to worry about rent collection month after month. The company will have a professional system in place that will ensure timely rent collection.

2. A professional company can help you to fix your leasing rate. They can use certain scientific methods of calculation and help you calculate your rent based on the area and other factors.

3. The company can help you find the right type of tenants for your house. The company can find you educated tenants, take their applications with photo identification, check history and references and also their reputation as a client. This will ensure that you have the right client for your property.

4. Companies can advertise your property to prospective renters. They ensure that your property does not remain vacant for a long time.

5. The company will inspect the property regularly before, while and after the tenancy period and this can help to resolve any maintenance issue.

6. The company can send you monthly reports on your account clearly demarcating income and expenditure.

7. You do not have to answer any emergency call from your tenant. The company will take care of all that and ensure your peace of mind.

8. You can use the help of reliable managers for any kind of property related issues 24X 7.

9. A good company can help you maximise the returns on your investment by suggesting other business deals to you.

10. A good property management company can keep you up to date with the latest state and federal laws regarding real estate and make sure everything is done legally and as per the syetem.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

The New Mortgage Refinance Plan - Who is Eligible?

Jennifer Cook & Raul Aleman — Mon, 07 Nov 2011 21:57:00 GMT

The Federal Housing Finance Agency (FHFA) has announced changes to the Home Affordable Refinance Program (HARP). The FHFA hopes that the new program, which eases eligibility rules, will double the number of homeowners currently able to lower their mortgage payments.

How does new program, extended through 2013, differ from the Home Affordable Refinance Program (HARP) established in 2009?

1. Eligibility for HARP was limited to homeowners who were no more than 25% underwater. Under the new guidelines, this 25% limit has been abolished. Being underwater on your loan will no longer effect your eligibility.

2. Many homeowners could not afford to pay the closing costs and appraisal fees associated with refinancing under HARP. These fees could run into thousands of dollars and, and for those already struggling to pay their mortgages, were simply beyond their means. Under the new plan, some refinancing fees will be eliminated. If there is a reliable automated valuation model (AVM) from Fannie Mae or Freddie Mac, the property appraisal requirement will be waived.

3. Under HARP, lenders charged fees based on risk when converting from long-term to shorter term home loans. These fees have been eliminated; hopefully lenders will have more freedom to refinance loans.

One caveat: Unfortunately, this is still a completely voluntary program for lenders. They are not required to refinance any loans.

Who will be eligible for the new program?

1. Homeowners with loans, sold to Freddie Mac or Fannie Mae, before June 2009.

2. Homeowners who are up to date on their mortgage. Any late payments within the last year will disqualify you.

The government hopes to qualify 1 million or more homeowners who are underwater on their loans. Unfortunately, this is barely 10% of those estimated to be in that position. For those who are eligible, and do manage to refinance, the savings could be considerable. Homeowners in Arizona, California, Nevada, and Florida, who find themselves underwater by as much as 50%, and whose loans are in good standing, could benefit the most.

Full details on the new plan will be released my Freddie Mac and Fannie Mae on November 15. Homeowners might be able to apply as early as December 1.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

Consumers Sense Stormy Weather Ahead

Jennifer Cook & Raul Aleman — Mon, 07 Nov 2011 21:57:00 GMT

October's Consumer Confidence Index was at its lowest point since March 2009, when the U.S. was in the heart of the recession. The Index represents how secure consumers feel about overall economic conditions during the next six months. According to an Associated Press article by Ann D'Innocenzio, economists were shocked to discover the Index had dropped 20 points below what they had expected. In a strong economy, the Consumer Confidence Index reads above 90; last month's Index was only26.9.

Why is consumer confidence an important indicator of the overall health of the economy? Because the vast majority of U.S. economic activity, 70 percent, is due to consumer spending. Concern over high unemployment and the increasing cost of food and clothing, lead to less consumption. This, in turn, stymies the overall economy.

The Index, based on interviews with 5,000 randomly selected U.S. families during the first two weeks of October, showed that consumers' confidence in the economy dropped 7 points. Their faith in the economy over the next six months dropped 6.4 points. Feelings about the short-term economic outlook dropped 2.7 points. The gloomiest consumers, those expecting business to worsen, dropped .3 points.

Similar drops were expressed by those surveyed regarding the job market and expected increases in income. It appears American consumers anticipate stormy times ahead.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

Solar Power - Coming Soon to a Home Near You

Jennifer Cook & Raul Aleman — Mon, 07 Nov 2011 21:56:00 GMT

Favored by the eco-conscious, solar power is clean, renewable, occurs during the time of greatest power usage, and eliminates the need for an expensive power grid. Until recently, however, the cost of the panels and their installation have made it prohibitive for most energy consumers. This is changing.

According to Jonathan Fahey, writing for the Associated Press, the plummeting price of solar panels suggests that it will be competitively priced with fossil fuels as early as 2016.

Currently, combined federal and state subsidies can cover as much as 75 percent of the cost of a solar system. However, some homeowners still find the installation financially out of reach. Responding to this need, a few solar firms have entered the energy market , creating what amounts to a solar mini-utility company. These companies install, own, and maintain solar systems on homes and charge customers a monthly fee for the power the panels produce. Over time, it would be less expensive for homeowner to purchase and install the system. However, many homeowners cannot afford the "up front" expense, and are more comfortable with paying a monthly fee.

The price of polycrystalline silicon, the main component of solar panels, is in sharp decline and large-scale manufacturers have entered the market. The cost of solar panels is based on the wattage they produce in full sunshine. Panels costing $4 per watt in 2008 are now selling for $1.90 per watt. All this is good news for consumers. With General Electric and Samsung entering the market, costs should tumble even further.

Still a very small portion of the energy market, solar powers only 600,000 homes nationwide. Clearly, there is room for growth and large corporations are taking heed. It is only a matter of time before solar power comes to a home or business near you.

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We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

New FHA Requirements Worry Condominium Associations

Jennifer Cook & Raul Aleman — Mon, 07 Nov 2011 21:55:00 GMT

Unlike traditional loans with their higher downpayment requirements, FHA-insured loans have become the loan of choice for condominium buyers. According to Benny L. Kass, writing for washingtonpost.com, in 2010, the FHA issued between 30 and 40 percent of all condominium loans. This data was compiled by a national trade organization, the Community Association Institute (CAI) which represents condominium communities and their concerns.

In response to the substantial condominium foreclosures in California, Florida, Nevada, and hoping to limit their exposure to troubled mortgages, the FHA released stringent new rules.

FHA-insured loans for condominiums over one year old must meet the following requirements:

1. No more than 50 percent of the association's total units can have FHA insurance. This rule might relaxed under certain circumstances.

2. No more than 25 percent of the total floor area in the association's buildings, or a single unit, can be used for commercial purposes. There are possible exceptions to this rule, however the floor area can only increase to a maximum of 35 percent.

3. Half or more of the units must be owner occupied.

4. No more than 15 percent of the association's total units can be 30 days past due on their assessments.

The FHA will no longer approve a single condominium unit for a FHA-insured loan, rather the entire condominium complex must be approved. Approval must be recertified every two years. The signer of the certification has a continuing legal responsibility to contact the Department of Housing and Urban Development (HUD) if what he has certified to, changes.

This puts Community Associations on the spot. According to the FHA, if a person certifies certain facts that turn out to be wrong, the FHA can levy fines up to $1 million and up to 30 years in prison. That's quite a responsibility for a board member to take on. With such potentially stiff penalties, would you want to sign the certification?

Contact your association attorney -- only lawyers should provide legal opinions to the FHA.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

New Taxes in the Future for Business Leases?

Jennifer Cook & Raul Aleman — Mon, 07 Nov 2011 21:55:00 GMT

Are business leases in the state being taxed correctly? The Florida Department of Revenue hopes to discover the answer to this question in a hotly contested, upcoming study. Florida realtors worry that the Department of Revenue has a hidden agenda, and that the study is just a first step toward higher taxes. According to the Florida Realtor Association, Department of Revenue General Counsel, Marshall Stranburg's reassurance, "All we're looking to do is fairly administer the law," has not been successful in silencing their concerns.

Despite assurances that the Department is still gathering information and that any rule amendment or new rules are nearly a year away, Florida's realtors vow to fight any change that would lead to higher taxes.

After examining business leases, how could the Department of Revenue increase taxes? They might consider including expenses related to property improvements performed by the leasee, and reassess the property accordingly. If these improvements are perceived to raise the property's value, higher property taxes would ensue.

Concerned that higher taxes would further depress real estate values in the state and discourage companies from doing business in Florida, realtors plan to take action.

According to Florida Realtors, the organization's legislative counsel, Trey Goldman, has vowed, "Florida Realtors will continue to participate in Department meetings and workshops and we'll take appropriate action, if necessary, should the Department of Revenue initiate rulemaking."

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

Census Results Show High Rate of Homeownership

Jennifer Cook & Raul Aleman — Mon, 07 Nov 2011 21:54:00 GMT

According to Information, Inc. and based on data from the 2010 U.S. Census, the rate of homeownership is second only to the high rate of homeownership set in 2000. Rates vary by locale with the highest levels of homeownership, 69.2 percent, found in the Midwest, followed by the South at 66.7 percent, the Northeast at 62.2 percent, and the West at 60.5 percent. Although these levels are high, the data also reflect a 1.1 percent decrease in homeownership from 2000 to 2010. This is the largest loss since the decrease in homeownership reflected in the 1930 through 1940 census.

Surprisingly, most metro areas in 2010 had larger numbers of homeowners than renters, with Michigan and Florida metro areas showing the highest rates of owner-occupied units.

Housing inventory over the same decade shows an upwards spiral, growing fastest in the South and West. The highest levels of housing inventory were found in Nevada at 41.9 percent, then Arizona, Utah, Idaho, Georgia, Florida, North Carolina, Colorado, Texas, and finally, South Carolina with a low of 21.9 percent.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.

Double-Dip Recession Appears Less Likely

Jennifer Cook & Raul Aleman — Mon, 07 Nov 2011 21:54:00 GMT

According to USA Today, in the wake of government reports issued on Oct. 19, economists are feeling more optimistic about third quarter economic growth. A Bloomberg News survey estimates economic growth up 1.8 percent from economist's projections less than 2 weeks ago. According to Capital Economics' Paul Ashworth, expansion in retail sales, manufacturing, business investment and jobs suggests that third-quarter growth could be as much as 3.2 percent.

Optimism is due in part to 10-year Treasury yields which have risen nearly .5 percent, encouraging greater investment in higher-risk assets, according to market strategist, Anthony Valeri of LPL Financial.

Much of the growth is attributed to a decline in oil prices and the resolution of supply issues resulting from the Japanese earthquake. According to the Commerce Department, as the log jam of Japanese imports eased, auto sales rose 3.6 percent, manufacturing grew at more than a 4 percent annualized rate, and businesses have increased spending on equipment and software. With this in mind, some experts contend that this growth is merely temporary.

Consumer confidence is still low and unemployment hovers at 9.1 percent. More pessimistic economists feel next year's growth will slow to 2 percent. However, jobless claims are lower than last summer, retail sales rose 0.6 percent last month, and consumer stock prices are at a premium in ratio to overall stock prices; these factors indicate that a recession is less likely.

Visit: http://www.orlandorealestatelink.com/ for a list of available homes in Orlando. We specialize in new homes, luxury properties, condos, villas, gated communities and homes with pool.

We also offer full service property management for Orlando.

Spanish site is also available: http://www.casasorlando.com/.