LaShawn Norden, REALTOR, (321) 377-0157 Your Real Estate Advocate in Florida

a Duck.

With that being said, I am personally challenged by the fact that listing agents do not truthfully market the condition of the property in the Multiple Listing Services (MLS).

Don't get me wrong, I'm not asking agents to "hurt" their sellers by revealing less than desireable qualities about a property (like the need for paint or flooring), but I do think that if the ceiling has fallen in, all appliances and light fixtures have been removed, the pool is swampy and/or the property has mold growing on the baseboards and walls, that the listing agent should disclose such when marketing the property...even if they do so in the REALTOR only Remarks section in the MLS.

When working with Buyers, it would certainly be helpful to know BEFORE I show the property that the property will need a tad bit more than just "TLC" or "elbow grease" in order to make it habitable.

If Buyers (and their agents) knew that the house needed thousands in repairs, they would then be able to make an educated decision about whether to see the home...but if that information is not provided in the MLS, the Buyer and their agent unknowingly can walk into a "disaster-like" home that the Buyer would have never even considered had they known the truth upfront.

In addition to disclosing "issues" such as the ones listed above, I would also think that listing agents who are marketing these types of homes would want Buyers to know if the home will require cash to purchase or if it will or won't qualify for FHA or VA financing. Since many more Buyers today are purchasing using a VA or FHA loan, it would be worthwhile to know if the property will meet the loan requirements before choosing to see it.

Lastly, if a property has mold...PLEASE protect yourself, the Buyer and their agent by putting a note on the front door stating so. Many people have sensitivity to mold and this is a liability house of cards ready to come falling down! Should a sign be posted on the door and the Buyer and/or their agent choose to enter anyway, they are assuming the risk...not you.

While I do not see the world through rose colored glasses, I do know that if a duck is a duck, there is no point marketing as a swan!

For your viewing pleasure, I have included a few photos of homes I've shown to unsuspecting Buyers lately because neither they (or I) knew the truth prior to the showing.

LaShawn Norden, PA, REALTOR, (321) 377-0157, RE/MAX Central Realty, Advocate for Buyers and Sellers in Central Florida, LaShawn@LaShawnNorden.com, www.LaShawnNorden.com

The Orlando Regional Realtor Association produces a trade publication for it's members that is often filled with statistics related to the local real estate market. Here are a few that every Central Floridian needs to know about Lake County, Orange County, Osceola County and Seminole County:

Year over Year Decline of Median Sales Price by County~ (January 2008-January 2009)

• Osceola County experienced a decline of 35.99%
• Orange County experienced a decline of 34.70%
• Seminole County experienced a decline of 28.88%
• Lake County experienced a decline of 25.93%

First Time Home Buyers

• In 2005, only 33% of the purchases were made by first time home buyers
• In 2008, 41% of the purchases were made by first time home buyers

Foreclosures by County

With foreclosures on the rise, according to a search of the MLS (link to site is available here), the February 2009 statistics of active properties for sale indicate that:

• 29.98% of the properties in Osceola County are foreclosures
• 24.24% of the properties in Orange County are foreclosures
• 16.52% of the properties in Seminole County are foreclosures
• 13.00% of the properties in Lake County are foreclosures

Closed Sales for January 2009

54.57% of the 1,050 sales that closed were distressed and bank-owned properties. Sales by County were:

• 28.80% of the sales in Orange County were distressed or bank-owned
• 12.88% of the sales in Osceola County were distressed or bank-owned
• 8.5% of the sales in Lake County were distressed or bank-owned
• 4.38% of the sales in Seminole County were distressed or bank-owned

Sales of existing homes in Florida rose 27% in December 2008, which the 4th consecutive month of increased sales activity.

Median Sales Prices by County as of January 2009

• Lake County ~ $135,000
• Orange County ~ $150,000
• Osceola County ~ $125,450
• Seminole County ~ $165,00

As a full-time Real Estate professional in Central Florida, it's my job to not only know these statistics, but to share them with the Buyers and Sellers that I represent and advocate for. In today's market, it's more important that ever to hire a REALTOR who knows the market and how to best position you for success.

I'd welcome the opportunity to be yours.

For more information on local statistics, including the value of homes in your marketplace, text/call me at (321) 377-0157 or email me at LaShawn@LaShawnNorden.com for an objective & honest evaluation of your buying or selling needs.

LaShawn Norden, PA, REALTOR, (321) 377-0157, RE/MAX Central Realty, LaShawn@LaShawnNorden.com, www.LaShawnNorden.com

Advocate for Central Florida Buyers & Sellers

Regardless of whether you purchase a brand new home from a builder, a re-sale home from a traditional seller, a short sale or a bank-owned property (a foreclosure), one of the most important steps in the buying process is to have the property inspected by a certified, licensed and insured Home/Building Inspector.

While you may elect to hire a licensed roofer, plumber, electrician and HVAC contractor to individually inspect these four main components (considered a Four Point Inspection), there are many certified Home/Building Inspectors who can & do provide a comprehensive inspection of the property by evaluating the below componets & more:

• Roof
• Plumbing
• Electrical
• HVAC (Air & Heat)
• Water Intrusion
• Pool Equipment
• Operational status of the appliances
• Structural issues
• Cosmetic issues

Many properties that are being marketed as short sales or foreclosures are being sold "as-is" with a "right to inspect," which typically means that a Buyer is assuming all of the risk when purchasing the property and that the Seller is not willing to make any repairs or give financial concessions for such repairs...which is all the more reason why a Buyer should know what "issues" the house has and how much money will be needed to correct those "issues."

More importantly, many lenders will not loan money on a property with wood rot or termites, roof leaks, active water intrusion, faulty plumbing or electrical wiring, structural issues, etc. because those properties are considered higher risk (especially if the Buyer is purchasing via a FHA or VA loan program).

With that being said, Buyers should make sure that their Contract for Sale and Purchase includes an "Inspection Contingency"which allows for them to have a specific amount of time to conduct any inspection they want, to secure estimates for any repair that might be needed and to withdraw from the Contract if they are not satisfied with the inspection results or the costs associated rectifying those repairs.

If you are a Buyer who wants to purchase a home in Seminole or Orange County, Florida and would like more information on how a "Inspection Contingency" can protect you, call/text me at (321) 377-0157 or email me at LaShawn@LaShawnNorden.com

LaShawn Norden, PA, REALTOR, Advocate for Buyers & Sellers in Orange & Seminole County, (321) 377-0157, RE/MAX Central Realty, LaShawn@LaShawnNorden.com, www.LaShawnNorden.com

I've seen a lot of crazy marketing antics over the years, but this one beats them all!

Recently, a local Seminole County "For Sale By Owner" ran an ad on Craig's List and found a few talented people who would be willing to "market" their home for sale for five hours (they were each paid $10/hour)...here's a few photos I took.

Like many others who were drawn by the "circus-like" activity, I too stopped by to ask the Sellers what they were asking for their home....

Once I heard, it became evident that they needed more than a juggler and a unicycle rider to sell their property...they needed a full-time REALTOR® who could help them price their home appropriately and market it accordingly!

While these particular Sellers have chosen to go the self-promotional route (and I do wish them the greatest success!), I'm fairly confident that even if they were to pay 100 people to stand on the side of the road dressed in drag and waving attention-getting flags, that if their home is not priced right, it won't sell.

Moral of the story: Hire a full-time professional Real Estate agent who will not only market your home creatively, but who will advise you on the proper price and then negotiate the best terms for you when you get a contract.

I'd welcome the opportunity to interview for the position as your Central Florida REALTOR®

I may not sing or dance or ride a unicycle, but I can and do SELL HOMES!

(321) 377-0157, LaShawn@LaShawnNorden.com, www.LaShawnNorden.com

LaShawn Norden, PA, REALTOR®, Your Central Florida Marketing & Negotiation Advocate!

When selling a Central Florida home, it's important for Sellers and their listing agents to have knowledge of what potential "black eyes" the property may have so that it can be priced accordingly. Just a couple of years ago, Buyers had fewer choices which made them more willing to accept a property with a "black eye."

Today, the exact opposite seems to be true.

With inventory at an all time high, Central Florida Buyers are more critical than ever of "black eye" homes and Sellers are feeling the pain. In reviewing sales statistics for Central Florida homes, it is evident that aggressive pricing is the one of the most effective ways to give relief to homes with "black eye" characteristics such as these:

• Property backs to a road. Regardless of whether the road is lightly or heavily traveled, this objection can impact the value of a property by as much as 10% according to local appraisers.
• There are power lines in view. While there have been ample studies that show power lines are less harmful than microwaves, there are plenty of people who don't want to live near them...let alone have them in the backyard.
• Property is near the main entrance of a community. While some Buyers may not be bothered by this, others won't like the extra traffic a home near the front of the neighborhood gets.
• Property is near a train track or bus stop. Again, while some Buyers may not be bothered by the noise created by the train or bus, others won't even consider purchasing a home near either.
• Property is near an airport and current flight patterns have planes flying overhead multiple times per day. Living near the airport does have benefits to those who travel, but seeing the underbelly of the plane every morning may be a little too close for comfort for some Buyers.
• Neighborhood is nice, but the road traveled to it is not. Homes that are located on dirt roads tend to be less desirable than those that are on nicely paved or brick roads.
• Adjacent properties have commercial or mixed use zoning. Having a gorgeous custom house next to a commercial building or an apartment complex very well may impact the value. Most Buyers seek to purchase properties that are surrounded by others with the same use.
• The garage was converted to extra living space. While it might be nice to have the extra "space," more Buyers would rather have a garage. By converting the garage, vehicles now must be parked outside and the lawn mower, holiday decorations and other "stuff" Buyers have collected over the years will have no where to go.

As a full-time Real Estate professional in Central Florida who advocates for Buyers and Sellers, I'd be happy to share more with you about trends in this market. Knowledge is power.

For more information on additional "black eye" characteristics that Buyers and appraisers are discounting for, call/text me at (321) 377-0157 or email me at LaShawn@LaShawnNorden.com

LaShawn Norden, PA, ALHS, REALTOR, RE/MAX Central Realty, (321) 377-0157

Advocate for Buyers and Sellers in Central Florida

Serving Seminole County including: Lake Mary, Longwood, Sanford, Winter Springs, Altamonte Springs, Oviedo and Casselberry and Orange County including:

Apopka, College Park, Maitland, Orlando, Winter Park and Windermere

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