Heather the Realtor - Orlando Area's Top Real Estate News

The dark side of Orlando Foreclosures. While some people see foreclosures and REO properties as a gold mine, others see the damage it causes to many families.

This blog isnt about the families that were foreclosed on but the people in the middle, hurt by the deceitful people still out to make a quick buck. The innocent people who think that they are simple getting a good deal because people are struggling and will take less for rent.

This weekend I had to handle the dark side of Foreclosures. A young couple with 3 kids and one on the way are occupying a house that is now owned by the bank. They rented the home from the previous home owners less then 2 weeks ago, happy with the home and the monthly fee. They paid first and last months rent upfront and even some past due monies owed to the water company. There were some red flags in this whole scenario but the main thing is. The previous owner was no longer the owner and has no right to the house or to rent the home.

Now these tenants are approached by me the rep for the bank who now owns the home,  that they have just been scammed by the previous owner and must vacate in less then 30 days. If they do so peacefully we can do something for them, if they dont they can be flat out evicted and quickly. Beware of scammers out there. Simply checking the tax records wont help, the banks name doesnt always appear that quickly. You could do a record search and see the chain of issues which might tip you off that something isnt right.

It's always important to have a professional on your side from the Realtor who helps you buy and sell real estate to the Property Management company who ensures a smooth rental process.

What does a Real Estate expert mean to you? Is it someone that knows all the developments in their area? Someone who knows the ins and outs of the real estate industry and negotiations? Someone who knows whats going on in the community and what makes a community special?

In the Real Estate Industry there seems to be no gauge to rank what makes one agent better then another. There are designations, there are sales stats, but does all that mean that someone is an expert or even a good Realtor? How as a general end user of our services does one determine to use one agent over another?

What do you think makes a Real Estate agent an Expert or the person you would want to do business with and refer your friends and family to?  Wouldnt it be great if there was a way to rank Realtors.

Facts about Bank owned / REO (Real Estate Owned) Properties

• There are 572,572 REOs Nationwide
• 65,240 in the State of Florida alone
• In seminole county there are 850 properties
• Bank owned homes in Orange county are a whopping 4,975
• That's almost 6,000 amazing deals on properties in Central Florida
  

Whether your a first time home buyer, experienced home buyer or investor in the Orlando are you cant deny the fact that there are deals to be had. With almost 6,000 of those deals right here in central florida.

As an REO agent I have the expertise to help get your offers accepted by the banks. Worked with other agents who told you that banks dont do repairs? That's a myth. Currently under contract and getting ready to close a deal where the bank is doing $10,000 worth of repairs to the hope. Another closing a few weeks after putting on a new roof worth $7,000.

I look forward to discussing your real estate needs in the Orlando, Lake Mary and surrounding areas.

I had a home inspection today with my First Time Home Buyer Tory today, who is a flight attendant with Southwest Airlines. We are utilizing my expertise in Down Payment Assistance to get him $10,000 in DPA from the City of Orlando.

We have an offer accepted on a great bank owned property in Orlando for $100,000. Today was our inspection and all went well except the roof which is shot, but we kind of already knew that going into the deal, my experience as a General Contractor helps many of my buyers get a feel for what kind of remodeling, TLC a property needs prior to a home inspection. This helps them narrow down which property is a better fit then another. However, I still cant emphasize the importance of a home inspection.

While walking around during the inspection we came to this strange outdoor piping situation. Picture to the right. Not sure what the thought was on this piping but it looks like something that should be in Dr. Seuss's House.

If you love to twitter then check out the coolest iphone/web app for twitter, Hahlo. I downloaded it today and I love the fact that I can keep a small drop down menu on my desktop all day and consistently be updated as to what my tweeps have to say.

Hahlo easily allows replies sent to your tweets, your direct messages, and your favorites, update your Twitter status, reply to and favorite tweets with a single tap and even send direct messages to your friends.

I specialize in working with first time home buyers in the Orlando area and as an REO listing agent. Often times I am given the bank owned properties weeks before they are actually put on the market. This time allows myself and the bank to get the property ready for the market. I only deal with banks who really are motivated to sell their properties and sell them in the best light.

During the time prior to listing the home on the market I am working on getting the property repaired and cleaned making it show ready. I also get the utilities turned on and the yard under control.

During the time before it's listed on the market, my list of clients interested in REO properties around Orlando are notified of the properties getting ready to come on the market and their potential list price. Then the day I take the listing agreement these same people are notified that the property is now available for sale.

Giving my list of interested parties first dibs at looking at these homes and making offers, increasing their likelihood of getting one of these phenominal bank owned properties in Lake Mary or Orlando area.

Want to be added to the list? Simply send an email to heather@HeatherTheRealtor.com with the subject REO list.

You will not be spammed and we protect your information. You will be notified when REO listings are coming on the market and have first chance at purchasing these bank owned properties.