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Heather the Realtor - Orlando, Lake Mary First Time Home Buyers, Bank Owned Homes

Lake Nona's newest and grandest community Laureate Park

Last Thursday I had the opportunity to attend a private event to showcase the newest community inside of Lake Nona - Laureate Park. Just steps from the Lake Nona Medical City. Laureate Park has some pretty exciting and innovative features to be found in their community and homes unlike anything you will find.

The new construction builders in Laureate Park are, David Weekley, Ashton Woods and K. Hov (K.Hovnanian) are partnered with GE to make this community ecofriendly and efficient - Talk about being Green on steriods. Some of the features are plugs in the garage and community for your electric cars, high tech GE nucleauses for your home to make not only your water heaters but your entire family energy efficient, plus floor plans that give you tons of space but dont leave a large foot print.

My favorite builder of the night that I saw was Ashton Woods. I loved their innovative designs with timeless functionality. Homes in Laureate Park start in the low $200,000s and did I mention Publix will be opening there in 2012! If you want to be one of the trailblazers and own a home in Laureate Park walking distance to schools, shops and most importantly Lake Nona Medical City which ecompasses the VA clinic and Nemours Children's Hosptial then contact me today - 407-810-6304 - heather@heathertherealtor.com

Below are some of the eco friendly features going into the homes in Laurete Park in Lake Nona

LAureate Park energy efficient homesLaureate PArk Ashton Woods

Does Bank of America hold your mortgage? Then this is a must read

Bank of America is trying to be as proactive as possible in this economy and understands the hardtimes that many Americans have fallen on and even still there are many that just need to sell their home but cant. Over the next few months many home owners with Bank of America home mortgages will begin to receive a Bank of America Transition guide package. If you havent received one yet I have been given permission as a CDPE member to give you a copy, just email me at heather@heathertherealtor.com

Many Americans who have missed payments or fallen on hardtimes just dont know where to turn and feel foreclosure is their only options and Im hear to tell you it's not. If any of the following apply you have options.

1) You want to sell your house but it's worth less then what you owe (you maybe deliquent or not on your mortgage)

2) You have missed payments and are not able to catch up

3) You have tried to modify your loan and cant

If any of these options apply to you, you dont have to face foreclosure Bank of America has numerous Short Sale options availablle.

One of the options: Im considering a short sale and I havent received an offer yet

Great news, for those of us living here in Florida there is a new program out that could give you up to $20,000 in relocation assistance, a deficiency waiver, and you get to remain in the home until it sells! (I have a client now that qualifies and will receive when we sell her home through the short sale process $17,068.85)

BAnk of aMerica Short Sale Process

Here's a tip: An experienced real estate agent is important - Reach out ot an agent who has experience with short sales, a proven track record and certified education handling short sales, they are more complex then a traditional sale. Picking the right agent could be the difference of transitioning from your current home with money in your pocket and being evicted. If your in the Central Florida area we would love the opportunity to help.

For a free copy of a the Bank of American Home Transition Guide or to discuss how my team and I can help you on your way to financial freedom send us an email or give us a call. 407-810-6304 or heather@heathertherealtor.com

Where did all the Orlando REO inventory go?

Where did all the Orlando REO inventory go? That's a good question. We are hearing about shadow inventory again and high numbers of foreclosures being in filed with the court house but where's the inventory.

Did you know as of right now there is only 1 - yes 1 REO Bank onwed home in downtown orlando actively on the market right now?

Did you know in Orange county there is only 331 there is a total of 5,363 on the market in Orange county meaning less then 10% of the inventory are bank owned homes.

Remember during these times the best properties will move quickly and often times go over asking as there are many people fighting for these good homes. To find the steals and deals you must be willing to go for the undesirable, the homes that have been sitting and need some help.

For now our market has turned, how long will it last we dont know.

Buying new construction vs Bank Owned Foreclosure Property

There's been some debate lately as to whether you should buy New construction property versus a Bank owned foreclosure home in Orlando. I say either can be a great deal just depends what you are looking for and current housing needs.

Here are my top reasons you should purchase a New Construction Home in Central Florida:

  1. It's brand new - never lived in, most the time you get to pick the fixtures and have outstanding warranties from 1-2 year interior to 10 year structural
  2. If the community is new there are no bad loans in the community meaning no shNEw Construction homes in Orlandoort sales or foreclosures in your community to bring down the value or the aesthetics of the neighborhood.
  3. Unlike most bank owned properties the seller will pay all your closing costs not just 3 or 4%
  4. They will throw in stuff like appliances and blinds
The downfall to purchasing new construction is you generally pay a little more then you would a REO home, plus it takes time to build so if the builder doesnt have something ready in inventory you may have to wait 6 months for the home to be built.



Here are my top reason you should purchase Bank Owned, REO, Foreclosure Real Estate:

  1. Below market value - most homes are discounted 10-20% below market value
  2. Sweat Equity - Willing to do a little work or can get a 203k rehab loan take advantage of the deep discounted price and turn that eyesore back into the sparkling gem
  3. Closing cost assistance and Special financing Deals - Most banks will pay 3% of the buyers closing costs and often times offer special financing deals like no PMI!
Bank owned real estate The downfall to purchasing bank owned property - most homes have not been loved and need some work, plus there can be some hidden defects the longer it has sat vacant so make sure to invest in that home inspection. Plus there is more competition for these homes often times there are multiple offers and people willing to pay more then asking, make sure to bring your patience when looking at these homes.


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Calling Downtown Orlando Investors - Townhomes bank owned - 4 units together

Calling all Downtown Orlando Investors do I have a deal for you. 4 Townhomes together bank owned and ready to rent. The average rent for the area is $1525. That's $6100 a month income and very low maintenance. The units are less then 3 years old and are in great condition. Looking for positive cash flow and ROI look no further

Downtown Orlando Bank Owned HomeSODO Bank OWned PropertyDowntown Orlando Investment PropertiesDowntown Orlando Cheap Homes

3 Large Bedrooms

2.5 Bathrooms - 1/2 bathroom downstairs

1 C Attached Garage

Each townhome has it's own private fenced yard

Hard wood floors downstairs

SS appliances and 42" cabinets in the kitchen

Faux wood blinds

Granite countertops in Kitchen and Master Bathroom

Almost 1700 sq ft of luxurious living

These units are priced at $165,000 a piece or lets work a deal with the bank for you to take all 4 at one time! Only 1 mile to downtown Orlando and the new Amway Center, Across from all the large hospitals including Winnie Palmer, Arnold Palmer, ORMC, MD Anderson, FLorida Hospital and minutes to SODO, I-4 and 408.

Zoned for the coveted A Rated Boone High School and Blanker K-8.