General Area

Orlando Housing Market – August 2013

To check out my profile, references and the references of the other agents, just click on my picture to go to my profiles and read what our clients say about us. Pick the broker that you think is right for you. Of course I hope it’s me, but if not then best wishes!

Search on MLS here:http://www.thepremiumproperties.idxco.com/idx/3935/advancedSearch.php

Highest and best regards.

Vincent Paige |REALTOR® | RE/MAX Showcase
Major, U.S. Army (Reserve)
Certified Broker Price Opinion Registered Agent (BPOR)
Florida Military Specialist (FMS)
8934 Conroy Windermere Road | Orlando, FL 32835
Direct: 407.256.8190 | Fax: 407.264.8073
E-mail: vince@thepremiumproperties.com
Search for homes here: http://luxurylivingorlando.com

Posted in General Area, Market Conditions, Orlando | Leave a comment

September 16th, 2013 by Vincent Paige

Hidden costs of purchasing a home

Low mortgage rates and more affordable home prices in some housing markets are creating renewed interest in homeownership, especially among young renters who are tired of seeing their rent costs rise every year. Homeownership can be a path to a solid financial future because each monthly mortgage payment will lead to increased home equity and rising home values will eventually add to your asset. However, potential buyers who are unprepared for the true cost of owning property may be shocked by the bite homeownership can take out of their wallet in addition to their mortgage payments.

Inspection and Appraisal Fees
Before you purchase a home, you need to pay for a home inspection, an appraisal and perhaps additional inspections for pests or radon. The costs of these inspections are borne by buyers and are a necessary protection to avoid buying a flawed property or paying too much.

Closing Costs
Some buyers are able to negotiate with the seller for a contribution for these costs, but buyers need to be prepared with the cash for anywhere from 2% to 4% of the mortgage balance depending on your area.

Taxes
As a homeowner, you’ll need to pay property taxes, which are generally part of the escrow you pay into each month. Remember, even if you have a fixed-rate home loan, your property taxes could go up and increase your monthly housing costs.

Insurance
Your lender will require home insurance, which could be costly depending on a variety of factors including the construction materials of your home and the location. Even if you have renter’s insurance, you’ll find that home insurance costs more because you are paying for the ability to rebuild your home in addition to replacing your personal possessions. Insurance costs can also rise over time, and you may need supplemental insurance if you live in a flood or earthquake zone.

HOA and Condo Fees
If you buy a home within a homeowners’ association or a condominium association, you’ll be required to pay a monthly or quarterly fee. These fees can rise, or your association may need to charge a special assessment for projects such as repaving the parking lot or repairing a roof.

Moving Costs
Not only will you need to pay a moving company or rent a truck to move your belongings, but you may need to make deposits to start your utilities.

The Bottom Line
While buying a home may cost a little more than you think, the investment in property can still be worthwhile as long as you buy what you can afford, budget for expected and unexpected expenses and hold onto your home for at least seven to 10 years.

Search on MLS here:http://www.thepremiumproperties.idxco.com/idx/3935/advancedSearch.php

Highest and best regards.

Posted in Financing, General Area, Home Buying | Leave a comment

September 6th, 2013 by Vincent Paige

Bay Hill homes for sale | Bay Hill Real Estate | Bay Hill Realtor

Bay Hill club house

Home prices in Bay Hill range from $400,000 – $5,000,000

Homes for sale in Bay Hill

Bay Hill is one of the most prestigious communities in Dr. Phillips, most noted for its golf course, which hosts the annual Arnold Palmer Bay Hill Invitational golf tournament. The Bay Hill golf club offers a private golf course, recreational facilities, full service salon and spa, and premier dining at three restaurants. The Arnold Palmer Invitational, a PGA tournament is hosted here as well. The Champion, Challenger and Charger links feature 27 holes of tour championship golf, a challenging though fair test for both professionals and amateurs alike.

There are some single family homes which overlook the magnificent greens of the Bay Hill golf course. Condominiums are also available as well. Bay Hill is situated on the shores of Lake Tibet, which is connected to the entire Butler Chain of Lakes and makes Bay Hill a boater’s dream. All homes have deeded access to the Butler chain of lakes. Bay Hill in Orlando is great places to live and the world class Arnold Palmer’s Bay Hill Club..is a golfer’s dream.

The Bay Hill area is located on both sides of Apopka-Vineland Road in southwest Orange County, north of Lake Buena Vista and south of the town of Windermere.

For a private tour of Bay Hill Golf Community or to learn more about Bay Hill call 407-256-8190.

Elevate your lifestyle,

Vincent Paige |REALTOR® | RE/MAX Showcase
Certified Broker Price Opinion Registered Agent (BPOR)
Florida Military Specialist (FMS)
8934 Conroy Windermere Road | Orlando, FL 32835
Direct: 407.256.8190 | Fax: 407.264.8073
E-mail: vince@thepremiumproperties.com

June 7th, 2013 by Vincent Paige

Reasons to list with a REALTOR | Orlando Realtor – Vincent Paige

1. Order a complete property profile of your house.
2. Review the property profile for accuracy.
3. Perform a professional Competitive Market Analysis of your house.
4. Review Total Market Overview with Sellers
5. Create a customized market plan that targets your most likely buyers.
6. Develop a specialized pricing strategy for your property.
7. Calculate an estimate of your net proceeds from the sale.
8. Tour your property from the Buyers standpoint.
9. Conduct a complete staging analysis of your house.
10. Provide instructions to help your house sell at a higher price.
11. Review interior of the house to maximize attractiveness.
12. Assist the seller in storing large pieces of furniture.
13. Review exterior of the house to maximize curb appeal.
14. Assisting in making the exterior as attractive as possible.
15. Integrate photographs into marketing materials.
16. Develop soon to be available postcards.
17. Explain the advantages of seller carry-back financing.
18. Conduct a thorough and diligent visual inspection of the property.
19. Review the status of any encumbrances against the property.
20. Review the status of any property tax liens against the property.
21. Obtain copies of architectural drawings relative to the property, if available.
22. Obtain copies of permits relative to the property.
23. Accurately measure the house.
24. Develop advertising copy for marketing.
25. Place house description in the Realtor Multiple Listing System.
26. Place photographs of your home on Realtor Multiple Listing System the day of the listing
27. Place photographs on Realtor´s personal website(s) which means it’s also shown on at least 16 other websites!
28. Place photographs on Broker´s website
29. Place photograph of home in stores around area.
30. Place photograph of home in the Real Estate Book for your particular area
31. Provide a Real Estate Relationships Disclosure.
32. Assist with the completion of an Exclusive Listing Agreement.
32. Assist in completion of the Agency Agreement Addendum.
33. Sign agent’s portion of Agency Agreement Addendum.
34. Review Flood disclosures, if required.
35. Review Lead Paint Disclosure requirements.
36. Review Competitive Marketing Analysis.
37. Explain commission splits between Listing and Selling brokers.
38. Review how commission split affects house showings.
39. Review benefits and drawbacks of using real estate lock box.
40. Arranging for pest control inspection of the house.
41. Arranging for contractor’s inspection on the house.
42. Arranging for roof report of the house, as necessary.
43. Arranging for septic tank inspection on the house, as appropriate.
44. Arranging for county inspection, as necessary.
45. Assisting in evaluation of inspection reports.
46. Assisting in correction of significant items in reports, as requested.
47. Provide Sellers Disclosure Statement to seller.
48. Place professional For Sale sign on property, as authorized.
49. Place appropriate riders on sign.
50. Place brochure box on sign if requested by Seller
51. Place lock box on property, as authorized.
52. Directly contact agents with qualified buyers about the property.
53. Respond to agent questions about the property.
54. Respond to buyer questions about the property.
55. Design attractive color flyer for the property.
56. Obtain a report on academic status of local schools.
57. Prepare flyers for potential buyers showing financing options.
58. Assist homeowner in preparing home for showing.
59. Print color flyers.
60. Provide flyer display stand for inside the house.
61. Deliver flyers to seller.
62. Provide copy of MLS listing to seller.
63. For vacant properties, coordinate the use of rental furniture if requested by Seller
64. Order copies of Covenants, Conditions & Restrictions, as necessary.
65. Place appropriate information into Multiple Listing System.
66. Take professional photo of the property to be taken for MLS.
67. Prepare Just Listed postcards for potential buyers.
68. Mail Just Listed postcards to potential buyers.
69. Meet and show potential buyers the property.
70. Follow-up with agents who have shown the property to customers.
71. As needed, obtain other real estate agents´ opinions of home pricing strategy.
72. As needed, obtain other real estate agents´ opinions of home staging.
73. Provide weekly status report to seller by email, phone or in-person.
74. Review local news sources for changes in neighborhood.
75. Assist seller in conforming with Fair Housing Laws.
76. Prequalify potential buyers before offers are made.
77. Periodically review progress of marketing program.
78. Send Thank You notes to agents who show the property.
79. Keep brochure box filled with flyers.
80. Periodically update MLS information.
81. Preview all competing houses for sale.
82. Coordinate presentation of offers to purchase the house.
83. Negotiate with potential buyers in a professional, unemotional manner.
84. Review the financial impact of any offers with seller.
85. Write Counter-Offers, as necessary.
86. Make sure escrow is open in a timely manner.
87. Make sure initial deposit is placed into escrow in a timely manner.
88. Make sure deposit increases are placed into escrow on time.
89. Make sure that buyer applies for a loan with contracted period.
90. Provide access to property to inspectors, as necessary.
91. Make sure seller provides all necessary documents.
92. Assisting seller in transferring utilities to buyer.
93. Keep seller informed on status of escrow
94. Reminding seller to turn on utilities in new home
95. Reminding seller to obtain insurance on new home
96. Assisting seller in moving to a new residence.
97. Providing keys to buyer.
98. Other miscellaneous activities that help a house sell.
99. Review Closing Statement with Sellers.
100. ALWAYS available for questions/concerns on a timely basis

Thanks for your time,

Vincent Warren Paige, Jr.
REALTOR® | RE/MAX Showcase
Certified Broker Price Opinion Registered Agent (BPOR)
8934 Conroy Windermere Road | Orlando, FL 32835
Direct: 407.256.8190 | Fax: 407.264.8073
E-mail:vince@thepremiumproperties.com
Website: http://www.ThePremiumProperties.com

Posted in General Area, Home Buying, Home Selling, Orlando Realtor Blog | Leave a comment

June 5th, 2013 by Vincent Paige

What is an HOA for anyway? | Orlando Realtor Vincent Paige

HOA Basics
First, let’s take a look at what HOAs are all about. HOA fees often range from $200 to $400 per month. The more upscale the building and the more amenities it has, the higher the homeowners’ association fees are likely to be. In addition to monthly fees, if a major expense such as a new roof or a new elevator comes up and there aren’t enough funds in the HOA’s reserves to pay for it, the association may charge an extra assessment that can run into the thousands of dollars.

Because multiple parties live in the same building, all residents of condominiums and townhomes must be equally responsible for maintaining the common areas of the building such as landscaping, elevators, swimming pools, clubhouses, parking garages, fitness rooms, sidewalks, security gates, roofing and the building exterior. Many of these types of common areas, such as pools and tennis courts, also exist in subdivisions of single family homes. Regardless of whether the HOA governs a building, such as a condo or townhome structure, or a neighborhood of individual houses, HOA fees help maintain the quality of life for the community’s residents and protect property values for all owners.In addition to maintaining common areas, HOAs also set out certain rules that all residents must follow called covenants, conditions and restrictions (CC&Rs). In a common building, rules may include what color front door you may have, whether you are allowed to line dry your laundry outside, whether you can have a satellite dish, the size and type of pets permitted, and so on. In many ways, these rules are similar to the types of rules apartment dwellers must follow.In a subdivision with individual homes, regulations may include what color you can paint your home, the exterior landscaping you can do, the types of vehicles you can park on the street or in your driveway (no RVs, for example), permissible type and height of fences, and restrictions on window coverings for windows facing the street. If you want to do anything that differs from these rules, you will have to convince the HOA to grant you a variance, which is probably unlikely. No matter where you live, you are likely to be subject to city ordinances and restrictions related to the use of your property. HOAs add yet another layer of restrictions and because their members are more likely to know what you’re up to, the HOA is more likely to enforce the rules. So, let’s take a look at some of the rules and regulations you need to know about before you decide to join one of these communities.

What You Need To Know
While there are laws governing the behavior of HOAs, these associations can still have a powerful impact on your rights as a homeowner. Before buying a property in a community that has an HOA you should:1. Learn the HOA’s rules
You may be able to find an HOA’s CC&Rs online as well as information about what happens if you violate a rule. Make sure any online information is current. If you cannot find this information online, ask your real estate agent to acquire these documents for you or contact the HOA yourself. Pay particular attention to rules regarding fines and whether the HOA can foreclose on your property for nonpayment of HOA dues or fines resulting from CC&R violations. Also, learn about the process for changing or adding rules and whether HOA meetings are held at a time you will be able to attend, if you wish to do so. If the rules are too restrictive, consider buying elsewhere.2. Make sure the home you want to buy is not already out of compliance with HOA rules
Buying into an existing problem can be a headache, so find out what the rules are and whether you would have to make changes to the home to comply.3. Assess environmental practices
If environmentally-friendly living is important to you, be aware that some HOAs may dictate that you use fertilizers, pesticides, sprinkler systems, and whatever it takes to keep your lawn picture-perfect. They may not allow xeriscaping (an environmentally friendly form of landscaping) and may limit the size of gardens, ban compost piles and prevent you from installing solar panels. If these things are important to you, make sure you check the fine print first.4. Consider your temperament
Are you the type of person who hates being told what to do? If so, living in a community with an HOA may be a very frustrating experience for you. One of the major benefits of homeownership is the ability to customize and alter the property to suit your needs, but HOA rules can really interfere with this.

5. Find out about fees
Fees will differ for each community. Because of this you should make sure to ask your HOA the following questions:

How are HOA fee increases set?
How often do increases occur, and by how much have they historically been raised?
Can you get a printed history of HOA dues by year for the last 10 years?
How large is the HOA’s reserve fund?
Also, ask for a record of special assessments that have been made in the past and ask if any special assessments are planned for the near future.
Find out what the monthly dues cover. Will you still have to pay extra for garbage pickup? Is cable included?

Compare dues for the complex or neighborhood you are considering to the average dues in the area. Keep in mind that you will have to pay for recreational facilities whether you use them or not. Find out the hours for amenities like pools and tennis courts. Will you be around during those hours, or will you be paying for facilities you’ll never be able to use? Be aware that the HOA may have rules about how many guests can use common facilities. If guest restrictions are severe, forget about that housewarming pool party you envisioned.

6. Try to get a copy of minutes from the last meeting or sit in on an HOA meeting before you buy
The meeting minutes can be very telling to the policies of the HOA. Some questions to ask are:

What are current and past conflicts?
What is the process for resolving any conflicts?
Has the HOA sued anyone? How was that resolved?

Be alert for potential drama. Power trips and petty politics can be an issue in some HOAs. Talk to some of the building’s current owners, if possible – preferably ones who are not on the HOA board and who have lived in the building for several years. Talk to the HOA president and get a sense for whether you want this person making decisions about what you can do with your property. If a private company manages the HOA, investigate it before you buy. Some HOAs are professionally managed, but it is common for the association to be managed by building residents who fill the position as volunteers. Even if you like the current HOA board or management company, it can change after you move in and you may end up getting something totally different than what you bargained for.

7. Watch for under-management
Not all HOAs are over-managed. The opposite problem may be an HOA where no one really cares and where no one is interested in maintaining the building, making repairs, hearing resident grievances, or being on the board. Residents may simply take turns serving as HOA president or randomly appoint someone, so be prepared to serve in this role whether you want to or not if that is the case with your community’s HOA.

This would also be a good time to check into any restrictions preventing you from renting out your property or that make it difficult for you to do so. If your property is being under-managed you might not have an issue, but if you’ve got a hyperactive manager it could be a totally different story.

8. Find out what kind of catastrophe insurance the HOA has on the building
This is particularly important if you’re considering a condo or townhouse purchase and you live in an area that is prone to floods, earthquakes, blizzards, fires, tornadoes, hurricanes, or any other type of potential natural disaster – and that is virtually anywhere.

9. Consider the impact of HOA fees on your short- and long-term finances
A condo with high HOA fees might end up costing you as much as the house you don’t think you can afford.

Conclusion
Homeowners’ associations can be your best friend when they prevent your neighbor from painting her house neon pink, but your worst enemy when they expect you to perform expensive maintenance on your home that you don’t think is necessary, or impose rules that you find too restrictive. Before you purchase a property subject to HOA rules and fees, make sure you know exactly what you are getting into.

*From Investopedia!

Happy House Hunting!

Posted in General Area, Home Buying, Property Q&A | Leave a comment

June 3rd, 2013 by Vincent Paige

Bella Collina |Top 10 Courses in Central Florida

Bella Collina Homes

The Golf Now Local Leaderboard: Top 10 Courses in Central Florida

1. Bella Collina Country Club (4.69/5.0): Central Florida golfers are flocking to Bella Collina, a once private facility that now offers some public play at their facility. most reviews make note of a clubhouse rich in opulence, plus a golf course in pristine shape — but tough with loads of sand.

2. Ritz-Carlton Golf Club Grande Lakes (4.62/5.0): Checking in at a close second is Ritz-Carlton Golf Club Grande Lakes, which has one of the most high-end resort experiences in town. Rex Hoggard recently visited the resort.

3. Stone Creek Golf Club (4.62/5.0): Up in Ocala horse country just north of Orlando, Stone Creek earns praise for a fair course design, great conditions and tremendous value.

4. Candler Hills Golf & Country Club (4.59/5.0): Another Ocala-area layout, Candler Hills has earned a reputation for pristine playing conditions, particularly on the course’s enormous greens.

5. Waldorf Astoria Golf Club (4.57/5.0): More proof that the highest-end Orlando-area clubs appear to be hitting the mark with their guests, Waldorf Astoria Golf Club near Disney World earns the 5th spot on GolfNow Top 10, thanks to stellar service and playing conditions.

6. Juliette Falls (4.56/5.0): Orlando-area golfers are stampeding north to Ocala horse country and this relatively new course that opened in 2008. View photos of Juliette Falls

7. North, South East at Grand Cypress (4.56/5.0): Another top course near the theme parks is this 27-hole facility designed by Jack Nicklaus. Raters appreciate the location near Disney and also a stern Nicklaus-worthy test.

8. Deer Island Golf & Lake Club (4.55/5.0): A peaceful setting loaded with wildlife is what attracts golfers northwest of Orlando to Deer Island.

9. El Campeon at Mission Hills Resort (4.54/5.0): Head for the hills to play this 1920s classic in Howey in the Hills, located just northwest of Orlando. Rolling fairways and Golden Era architecture accentuate the peaceful vibe of this shady resort that’s far removed from the tourist bustle just south on the Turnpike. More on El Campeon.

10. Eagle Creek Golf Club (4.47/5.0): This Orlando Airport-area course prides itself on great service and greens, and appears to be delivering. It’s one of the most-reviewed courses in the area, and golfers are mostly flush with praise for this Scottish-inspired layout with big, sweeping greens and firm, fast conditions.

Thanks,

Posted in General Area, Parks & Recreation | Leave a comment

May 23rd, 2013 by Vincent Paige

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