Savvy buyers today are looking for the best resources to get the best deals. At Z House Realty Group, we believe in being the SOURCE for the latest real estate technology. Along those lines, we are excited to announce our newest feature:
FULL FORECLOSURE SEARCH for the Entire Mid-Florida Regional MLS! That's right, you can search Foreclosure Homes in Orlando, Oviedo, Winter Springs, Winter Park and beyond.
You can Search ALL Available Foreclosures by Map, Subdivision, City/Zip and more. In addition, you can save them as favorites, setup automatic e-notifications to receive the latest FORECLOSURE listings by email, as they hit the market and more. So, if you are looking for the best source for your Central Florida real estate and foreclosure needs - YOU FOUND IT!
Check it out now at www.ZHouseRealtyGroup.com and Search Foreclosures, including pre-foreclosure, foreclosure and bank-owned homes!
If you have questions about purchasing a foreclosure home, we would be happy to help answer them. Our agents are experienced with dealing with Short Sales, Foreclosures and Bank-Owned/REO homes. Let us help you make the best deal! Call today at 407-208-1221. Thank you!
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Jesup's Reserve, Winter Springs - We invite everyone to visit our open house at 108 McLeods Way on December 13 from 1:00 AM to 3:00 AM.
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Avalon Park South, Orlando - We invite everyone to visit our open house at 4133 Alcott Cir on November 22 from 2:00 PM to 5:00 PM.
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Avalon Park South, Orlando - Announcing a price reduction on 4133 Alcott Cir, a 3,080 sq. ft., 3 bath, 4 bdrm single story. Now 
MLS® $295,000 - Short Sale - MUST SELL!!!.
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When purchasing any property, it is a good idea to get a home inspection. Once you have the inspection report, what next? Review the findings, determine if they are cosmetic, structural or will require extensive repairs. If you have a repair limit on your contract, then you will need to prioritize your repairs and document those that you would like completed. An addendum or the inspection report will need to be provided to the seller. However, if your repairs exceed the repair limit or you have an as-is contract - you face a dilema: Withdraw or Not?
Only you can truly know when it is appropriate to withdraw your offer to purchase. In order to make this determination, you should look at the home inspection, termite inspection and any contractor’s estimates together with the agreed sales price of the home. If the total to purchase and repair is higher than:
a. The values in the neighborhood.
b. The amount of money you have available to spend.
c. The amount of money you can qualify to borrow.
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d. All of the above
Then you should walk away from the purchase. It would be impossible for almost anyone to know in the approximately 20 to 40 minutes you spend initially looking at a house to determine if this is the right purchase for you. Remember that the bank has no knowledge of the issues and/or repairs a home has undergone in most cases. When buying foreclosed properties you have to be an investigator before an investor. Use caution, good sense and as many resources as you have available in making this major investment in your life.
Every real estate purchase begins with a motivation. Many people looking at REO properties are looking purely at the investment value. Buy low, hold, sell high.
An REO is property that goes back to the mortgage company after an unsuccessful auction. This property has completed the entire legal process, know as foreclosure. Most foreclosure auctions do not generate any successful bids. If there was equity in the property to satisfy the loan the seller would have sold the property and paid off the bank.
From a legal standpoint - there is relatively little risk in purchasing an REO, as the bank is responsible for providing clear title and in most cases, also pays for an owner’s title insurance policy. If for any reason the bank uses a form that does not provide for a title policy, your Realtor can put language into the contract that makes closing contingent on the title being clear of defects. If you are financing the property with institutional money (i.e. bank or Mortgage Company) your lender will also require a lenders title policy. This will be at the buyers’ expense and typically costs about $250.00 to $350.00, regardless of the loan amount or purchase price.
Also, know that REO purchases are typically “as is.” That is not to say that you cannot have an inspection done and one is recommended. It is simply that the lender is not agreeing to pay any repairs. This can be a point of renegotiation once an inspection report is obtained. However, the lender is under no obligation to renegotiate.
Always look at the property to determine its condition, as some sellers loosing their property to foreclosure are irresponsible in the maintenance of the property and in some cases outright vengeful. The property may be “trashed,” or have no appliances or worse. However, many of the Asset Management companies, listing Realtors and lender-owners will make repairs prior to listing the properties for sale. You need to do your homework!
Helping buyers decide the right properties is one of my constant goals and varies depending on the what, why and how motives of the buyers. What are they looking for? What is their timeframe for the purchase? Why do the want to purchase? How do they intend to use the property? How long do they intend to hold the property?
This is the introduction piece to a series of blog postings that will delve into the motivations behind purchasing REO properties. The current selection of bank-owned homes is large and the inventory is growing. However, buyers cannot be complacent, since homes are selling. Just this morning, record sales increases for September were announced on national news. This upturn in housing sales was contributed in large part to the foreclosure homes being sold for exceptional deals. Have questions or comments? Let me know.
Pre-Approved Short Sale in Moss Park Ridge, Orlando - Announcing a price reduction on 12853 Moss Park Ridge Dr, a 3,455 sq. ft., 4 bath, 5 bdrm 2 story. Now MLS® $255-265,000 - Bank Approved. You can't beat this deal on a barely lived in beauty: Only $73.80 per square foot. Quick Close!
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Jesup's Reserve, Winter Springs - We invite everyone to visit our open house at 108 McLeods Way on October 5 from 12:00 PM to 3:00 PM.
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• 2,002 sq. ft., 2 bath, 4 bdrm single story - MLS® $1,450 USD Monthly
Rybolt Reserve, Orlando - 1,450 A MONTH! IMMACULATE 4/2 WITH DEN/OFFICE RECENTLY PAINTED INSIDE AND OUT. HOME IS LOCATED IN A GATED COMMUNITY JUST MINUTES FROM UCF AND READY TO MOVE IN. UPGRADED INCLUDE FOAM INSULATION IN EXTERIOR BLOCK WALLS, TILE FLOORS AND CORIAN COUNTER TOPS.
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Georgeous, Upgraded, Better Then New
• 1,888 sq. ft., 3 bath, 3 bdrm 3 story - MLS® $245,512 - Well Worth It!
Jesup's Reserve, Winter Springs - SPACIOUS 3 STORY TOWNHOUSE WITH 2 EXTENDED BALCONIES. UPGRADES INCLUDE : BERBER CARPET, 16" PESCARA BEIGE TILE, FOYER ON THE DIAGONAL, KNOCKDOWN CEILINGS, ORANGE PEEL WALLS, 2ND DOOR ADDED TO 3RD BEDRM, KITCHEN UPGRADES INCLUDE: GOURMET PACKAGE, "A",CROWN MOULDING AT UPPER CABINETS, SINK TILT-OUT TRAY, LIGHT VALANCE, 2 ROLLOUT TRAYS IN LOWER CABINETS, 36" ARISTOKRAFT SINCLAIR BIRCH CABINETS, UPGRADED HARDWARE, GIALLO ANTICO GRANITE COUNTERS, KOHLER STAINLESS SINK WITH UPGRADED. 
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Savannah Pines Condo, Orlando - Announcing a price reduction on 9303 Flowering Cottonwood Rd., a 1,071 sq. ft., 2 bath, 2 bdrm townhouse. Now MLS® $129,000 - DON'T MISS OUT.
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Savannah Pines Condo, Orlando - Announcing a price reduction on 9429 Flowering Cottonwood Rd., a 1,472 sq. ft., 2 bath, 3 bdrm townhouse. Now MLS® $139,000 - REDUCED!.
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Searching for a home can be a frustrating process or it can be fun. The choice is up to you. Having the right tools can make all the difference. At Z House Realty Group, we believe in providing the best service, the best tools and the latest technology to help our buyers save more time, save more money and to simplify their home search.
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Therefore, we are proud to offer buyers, sellers and renters the ability to search the entire Mid-Florida Regional MLS by map, subdivision, city or address. Once you are happy with your search, you can save the criteria and choose to receive search result updates at your pace. And yes – those updates include every listing, from any company, that is added, modified or status has been changed for all of Central Florida. You determine how often you receive them and you can stop them at any time.
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So far – we have had comments such as:
“Thank you for helping to simplify and organize my search! Before, I was just searching here and there, always afraid that I was missing something.”
“It is nice to know that I get all of the updates at my pace. Now, I get e-mails of my favorite 3 subdivisions for my price range every day. I love that I can share my favorites with my husband this way.”
”I found that it is easier then ever to schedule a showing – I just picked my best 3 times and dates and the agent let me know that they would be their at the time of my first choice. Talk about service!”
The service is FREE TO YOU! So, take some time, look around and decide for yourself. We would love to hear your feedback too!
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Visit www.ZHouseRealtyGroup.com to search now. Looking for bank-owned homes, call us at 407-208-1221. Just need market updates to stay informed, click here.
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Questioning all of the news you hear about the market and wanting to learn more, visit www.OrlandoForeclosureBus.com. Our next bus tour leaves June 21, 2008.
Are you looking for general market information for your neighborhood? Would you be interested in an interactive, map-based tool that allows you to receive weekly, bi-monthly or monthly updates about your area of choice? The market snapshot contains all of the properties currently available, those that sold and can provide you with a history of the area trends.
Our Market Snapshot answers the following questions:
How do actual selling prices compare to listing prices in my area?
How are homes within a 5 mile radius selling?
Unsold homes in my area?
Where can I get answers to any pressing questions that I have?
This report is great for sellers, buyers or those just looking to stay informed! View Sample Analysis Now.
Ready to see the information of your choice, check it out!
At Z House Realty Group, we believe that regardless of your current home needs, being aware of your market is a must! So, enjoy our Market Snapshot Tool and if you have any questions, just call our office at 407-208-1221 and one of our agents will be happy to help. You can also visit our website at www.ZHouseRealtyGroup.com.
Are you interested in making the best buying decision in today’s market? Have you heard about short sales but are still not certain the implications for you, as either a buyer or seller? Are you interested in purchasing a foreclosure property, but not certain of the legal and economic consequences? If so, the Orlando Foreclosure Bus – The #1 Rolling Real Estate Classroom is for you! The next bus leaves June 21, 2008.
Your education begins with a lesson on the legal ramifications of purchasing an REO (bank owned home), taught by a real estate attorney. Karen Spell, esq. will also review the legalities of the foreclosure process and more. This is your opportunity to get the answers you need without costly lawyer fees.
A qualifying real estate broker will teach subjects from the foreclosure timeline, through creative search techniques, the differences to the buyer when purchasing or offering on pre-foreclosure, short sale, REO or other property types, going green, and how to avoid foreclosure or help someone save their home. You can anticipate current examples from recent sales in this evolving market.
Kim Douglas Moore, a 30 year veteran Building Inspector and owner of Douglas Inspections teaches both on the bus and via property walk-throughs, what to watch for to potentially avoid costly buying mistakes. In addition, he will provide basic home maintenance and energy saving tips that every homeowner can appreciate. As one rider stated, “he is amazing.”
Finally, a mortgage banker will teach you about how to proceed, from broker/banker selection, reviewing changing guidelines and how to choose the best financing options for you. Down payment assistance is available; you just need to know the programs. Looking for money to make repairs, learn what loan options will allow you to finance them.
The six hour bus tour begins at the Z House Realty Group Internet Coffee Café, 829 Woodbury Rd #104 Orlando, FL 32828. Breakfast is served starting at 9:30am. The bus will leave at 10:00am and begin traveling from bank-owned home to bank-owned home. For lunch – enjoy a relaxed meal at Applebee’s were you can sit and ask individual questions of the expert of your choice. The tour returns around 3:30pm. The cost for the tour is $45.00 for the first person and $20.00 each additional person. For more information, visit www.OrlandoForeclosureBus.com or to register, click here.
Because this tour is truly unique and not just transportation from house-to-house, it has received much publicity: East Orlando Sun, Fox News National, Associated Press, Despierta America on Univision, Roy Green Show in Canada, The London Gaurdian, Channels 6, 9 and 13.
Each segment is taught by an expert in their own field - not just agents trying to sell you. In fact, the need to "buy" is not a requirement. The goal is to EDUCATE and that is what you are paying for. If you do decide to use Z House Realty Group or any of the other professionals on board to assist you, they will be happy to work with you to find the best deal. However, if you are already working with an agent, broker, title attorney or home inspector or just looking for knowledge - that's ok too.
Thus far – we have received nothing but positive feedback on the quality of the education and materials provided.
Z House Realty Group has successfully helped buyers save hundreds of thousands purchasing REO/Bank-Owned or foreclosure homes, sellers avoid foreclosure through the short-sale process and non-hardship sellers to make the best deal possible through solid marketing, networking and negotiations.
Looking for an East Orlando Bank Owned Home, begin your search at www.ZHouseRealtyGroup.com. You will love our new MAP SEARCH of all homes currently listed on the Mid Florida Regional MLS. You can register to receive FREE emailed listings that meet your criteria. Save your searches, receive email notifications whenever new listings match, share them with co-buyers or your agent and manage your saved searches at any time.
Z House Realty Group is a member of the Orlando Regional Realtor Association, Palm Beach Board of Realtors, Florida Association of Realtors, National Association of Realtors, Orlando Chamber of Commerce and the East Orlando Chamber of Commerce. Janice M. Ziesig, the Broker and Owner of Z House Realty Group is a proud alumni of the University of Central Florida.