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When Is the Best Time to Sell Your House?

When Is the Best Time to Sell Your House?

by | Jan 10, 2023 | Blog, Homeowners, Homes, Villas and Condos, News, Real Estate News, Sellers

When Is the Best Time to Sell Your House?

When Is the Best Time to Sell Your House?

Timing can make a big difference in terms of selling your home quickly and for the most cash. But here’s the thing: The rules on pinpointing that best time might not be what you think.

The assumption that spring is always the best time to sell is not necessarily true. The general direction of your local economy and mortgage interest rates come into play as well.

There’s no crystal ball for reading the housing market, but there are ways to stack the deck in your favor. Here are five things to consider before putting your house on the market.

1. Spring isn’t always the best season to sell your house

Though conventional wisdom maintains that the spring home-buying season (April to June) is the best time to sell, that’s not always the case. In fact, one recent study even found that sellers typically net more above asking price during the months of December, January, February, and March than they do from June through November. Surprised?

One reason may be that the spring home-buying season generally means you’ll have more competition from other home sellers—and that may require you to price your home more aggressively in order to attract buyers.

“Listing in the spring means you are positioning yourself to compete with several other homes,” says Cheyanne Banks. “So as a seller in the spring, you have to price and market your home flawlessly to show buyers that your home is more desirable than the place next door.”

Additionally, a number of experts recommend listing a home in February or March so that the property hits the market before the competition ramps up—which may explain why a 2018 study by ATTOM Data Solutions of 14.7 million home sales from 2011 to 2017 found the second-best day of the year to sell a home is Feb. 15, with sellers netting an average premium of 9% above their house’s estimated market value on that day. (Sellers nab a 9.1% premium above market value on June 28.)

Winter is also a hot time of year for people relocating for jobs, says Jennifer Baldinger.

“One of the biggest months for corporate relocation is January-February, so those buyers who need to move quickly are out in full force looking for new homes,” she says.

2. Keep an eye on the local economy

The strength of the U.S. housing market as a whole certainly plays a role in home prices. According to a realtor.com analysis of annual price growth rates, a home’s value generally increases 3% to 4% a year when the economy is strong, driven by inflation and natural population growth. From 2011 to 2016, the national housing market was recovering from the bubble at a slightly higher speed: 6.3% a year, on average.

You’ll want to assess your local economy’s conditions when figuring out when to list your home. One benchmark you can use is the S&P CoreLogic Case-Shiller National Home Price Index, which monitors single-family home sales in 20 major U.S. cities. Another valuable resource is the Metropolitan Median Area Prices and Affordability tracker from the National Association of Realtors®.

3. Mortgage rates matter, too

Generally, more people buy homes when mortgage rates drop, historic data shows. As a result, prospective sellers should be monitoring the mortgage market, says Jack Guttentag, author of “The Mortgage Encyclopedia.”

4. Wait until your home’s in good shape

To fetch top dollar for your home, the property must show well. This may require you take time to make repairs to your house.

“Any defect or condition that affects the intended function or operation of a major house system should be fixed,” says Kathleen Kuhn, president of HouseMaster, a national chain of home inspection offices.

Translation: Taking care of leaks, built-in appliances not functioning properly, insect infestations, plus any imminent safety or environmental hazards, is crucial before listing your home. Even making cosmetic changes (e.g., repainting the kitchen or sprucing up the property’s landscaping) can make your home significantly more appealing to home buyers.

Keeping up with your neighbors is also important. If all the houses on your block are beautifully furnished and landscaped, then it’s likely worth it to spend the extra cash—and the time—primping your own home for sale.

5. Your personal preparedness is a priority, too

Yet no amount of timing should eclipse what time is right for you—personally, professionally, and otherwise. Are you ready to move on, or up into bigger digs? Though most experts advise you to live in your home at least ten years, there are circumstances where it just makes sense to sell. Many homeowners sell when they change jobs or when their children switch schools, or when the kids fly the coop and the parents are ready to downsize. So, take stock of your own situation when deciding whether to put your house on the market now or wait.

 Source

Experts in Residential Real Estate in Orlando

If you are buying or selling real estate it’s quiet often the single most important financial decision you make. For the last 30 years we have helped clients buying and selling property in Orlando and the surrounding areas. Put simply, this means the knowledge and expertise accumulated over this time ensures our clients get the best representation possible.

Our experienced agents will help and guide you through the entire process providing valuable support every step of the way.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

[formlift id=”36911″]

How To Buy and Sell a Home at the Same Time

How To Buy and Sell a Home at the Same Time

by | Jan 4, 2023 | Blog, Buyers, Homeowners, Homes, Villas and Condos, News, Real Estate News, Sellers

How To Buy and Sell a Home at the Same Time

How To Buy and Sell a Home at the Same Time

 

Buying a house while simultaneously selling your current home is always a treacherous tight wire to traverse—but in today’s high-priced, high-interest-rate housing market, it’s both a blessing and a curse.

The good news for home sellers is that over the past year, demand for homes has driven prices through the roof, pushing home equity to record levels. Homeowners are essentially sitting on a pile of cash, which would definitely come in handy if they start shopping for a new home.

Yet any homebuyer out there today will also face steep mortgage interest rates, which have more than doubled over the past year to the 7% range. This has raised the cost of housing by around 70% compared with a year earlier, according to a recent analysis by Realtor.com® Chief Economist Danielle Hale.

Most sellers who move would need to get a new mortgage, at a higher rate. It’s no wonder, then, that many are deciding to stay put.

“Two-thirds of homeowners right now are sitting on a sub-4% mortgage, and about a quarter are sitting on a sub-3% mortgage,” says Lisa Sturtevant, chief economist of the Bright MLS. “And so you can imagine existing homeowners, even if they wanted to move, are really reticent to give up their very favorable mortgage rate. It’s like golden handcuffs where you’re locked in.”

Still, it’s worth noting that some home sellers might be able to justify and absorb the higher interest rates since their home sale will likely bring a windfall of cash. And in theory, that money could go toward making an all-cash offer on their next house—and getting a very good deal on it, too.

“With home prices still high and buyer competition thinned out due to high mortgage rates, it may be a good time for some sellers to make a move, especially those who may not need a mortgage to make their next home purchase,” says Hale.

Still, an all-cash offer is a lot of financial eggs in one big basket. Is it worth the risk?

If you’re one of these homeowners sitting on a nice chunk of equity and looking to sell your house and buy another at the same time, there are ways to navigate today’s current financial terrain to your advantage.

Should home sellers buy or sell first?

The first question most home sellers ask themselves is: Should I buy or sell first? Each decision comes with its distinct pros and cons.

“Buying first gives you an opportunity to move out before putting your prior home on the market,” Hale says.

This helps a seller avoid the headaches of living in a home that is for sale, which means keeping it in pristine condition and being ready to vacate often (and at short notice) when buyers want to stop by for a tour.

On the other hand, “Selling first lets you know just how much you’ll make on the sale before shopping for your next home,” Hale says. “But it may mean finding a temporary place to live in between.”

Hale suggests asking yourself the following questions if you’re planning to sell and buy at the same time:

  • Where do I want to live next?
  • How disruptive will it be to have the home I live in on the market?
  • Can I handle the possibility of two mortgage payments—and if so, for how long?

While buying first allows you to avoid the annoyance of finding temporary living quarters and moving twice, it’s definitely more risky financially.

If your old property does not sell quickly, you could end up paying for two properties at once. This is a particularly strong possibility right now, since homes are lingering longer on the market than they did last year, and the market is bound to get even more sluggish if mortgage interest rates remain high and as we glide toward (and beyond) the holidays.

Options for sellers who want to buy first

For those who do want to buy first, “there is some risk, but also some great upside if done correctly,” says Mark Hardy, managing partner at Churchill Morgage in Orange, CA. “There are bridge loans that will allow for short-term use of equity from your current property to serve as a down payment for the next property if this is needed. This can position you to make a noncontingent offer and secure a much better price or better terms.”

Current rates on bridge loans range from 6% to 16% with the idea that you’re paying off the loan as quickly as possible, as soon as your original house sells.

Homeowners who want (or need) to sell quickly (because you’ve bought a new home or for other reasons) also have many new options today for getting a sale through fast.

“One bright spot for today’s sellers is that there is much more innovation in the real estate landscape and ways to get assistance with buying and selling at the same time than ever before,” Hale says.

Options for sellers who want to sell before buying

For homeowners who prefer to sell first, one way to avoid moving into temporary accommodations is to negotiate a lease-back from your home’s buyers—where they agree to let you remain in your current home, paying rent, until you find a new home you want to buy.

Just keep in mind that, even after your home sells, it may be a while before you see that money.

“Getting the proceeds from the sale of your home can take some time, maybe longer than you expect,” warns Hale. “So if you’re trying to time the purchase and sale of a home, be sure to allow enough time for the proceeds from your home sale to be in hand before you schedule your closing purchase.”

Should sellers make an all-cash offer if they can?

If you’ve built up some sizable home equity and your home sale gives you enough to make an all-cash offer on your next place, that’s an attractive prospect in today’s high-interest-rate environment. It can also get you a deal since all-cash offers typically result in a 3% to 4% discount over a financed offer, Hardy notes.

An all-cash offer might also be tempting to try since it will likely set you apart from any competition you may have from mortgage-backed buyers. That said, you should not feel the need to funnel all your proceeds into an all-cash offer if that makes you uncomfortable or stretches your finances too thin.

“Don’t pay in all-cash because you think you have to be the most competitive offer,” Sturtevant says. While all-cash offers ruled during the ultracompetitive market last year, that’s no longer the case today.

Another option that’s less risky but still helps your offer stand out is to finance a smaller portion of the property.

“If there’s an opportunity to put 50% down, it makes it a little bit easier to swallow that bitter pill of a 7% mortgage rate if you’re financing a lower loan,” says Sturtevant.

Hale adds that “with mortgage rates near two-decade highs, minimizing the amount of borrowing you need to do to buy a home can make a big difference.”

Another option is to make an all-cash offer, then get a mortgage on your home later once interest rates go down.

An alternative to all-cash offers: Become a certified homebuyer

Homebuyers without as much equity built up in their home have other ways to keep their offer on new homes competitive. Hardy points to the strategy of becoming a “certified homebuyer,” which allows sellers to close quickly, without the need for a loan contingency.

Similar to a mortgage pre-approval process, the process of becoming a certified homebuyer requires proof of income, assets, employment, identity, and credit score. The difference is that all financial documents are reviewed by an underwriter, which gets you conditionally approved for financing.

“We’ve found this is a great way to help a seller feel very comfortable in accepting our client’s offer and secure terms quite close to what a cash offer would receive,” Hardy says. “The end result is that a buyer can better use the cash—and can now reinvest as desired—and has also purchased a new property at a much better price.”

 

Experts in Residential Real Estate in Orlando

If you are buying or selling real estate it’s quiet often the single most important financial decision you make. For the last 30 years we have helped clients buying and selling property in Orlando and the surrounding areas. Put simply, this means the knowledge and expertise accumulated over this time ensures our clients get the best representation possible.

Our experienced agents will help and guide you through the entire process providing valuable support every step of the way.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

[formlift id=”36911″]

Ways To Lower Cost of Buying New-Construction Home

Ways To Lower Cost of Buying New-Construction Home

by | Jan 3, 2023 | Blog, Buyers, Homeowners, Homes, Villas and Condos, New Construction, News, Real Estate News

Ways To Lower Cost of Buying New-Construction Home

Ways To Lower Cost of Buying New-Construction Home

 

While buying any home is an expensive endeavor these days, buying a brand-new home—where everything is in pristine condition—will understandably cost a bit more.

Recent data from the National Association of Home Builders and the U.S. Census Bureau found that the price for a newly built home currently hovers at a national median of $436,800. Compare that with a preexisting home’s median price of $396,300, and it’s clear that buying brand-new might set you back tens of thousands of dollars extra.

Many homebuyers may find the added expense of new construction well worth it, due to the money they stand to save on renovations and repairs that might crop up in an older home. But homebuyers should also know that they can lower the costs of new construction right when they make the purchase through some smart negotiation tactics.

1. Buy into the community early

If your timeline is flexible, one prime opportunity to score major savings is by being one of the first people to purchase in a new community—even before the homes have been built—when developers are particularly eager to get buyers on board.

“There are pre-construction pricing opportunities that will likely allow you to purchase a home at a lower price,” says Bill Samuel, owner of Blue Ladder Development. “Since the potential pre-construction savings amount varies for each development, it is in your best interests to call around to every development to find the best deal.”

Samuel suggests prospective homebuyers create a spreadsheet of the different developments in their area and ask the sales representative for each development about the specific bonuses on offer.

Another potential benefit of “getting in on the ground floor” is that people who buy into a project early tend to have built-in equity by the time they close due to natural price increases as the builder sells more and more properties in the community. Translation: Your home will probably already be worth more than you paid once it’s finished.

2. Minimize the number of upgrades

Similar to a car, new-construction homes have “base models,” which come with the bare minimum. But if you want any fancy bells and whistles (think: high-end kitchen countertops or a custom paint job), this will typically jack up the price.

Homebuilders will generally have a list of what is included in the base price of a new-construction home, often referred to as the “specification level.” Beyond that, many builders offer personal selections or options that a buyer can choose to add for an additional fee.

Minimizing the amount of extras selected during your new home build is going to be one of the most significant ways to realize savings. Samuel suggests prospective buyers spend time touring the model home in any development being considered.

“Review the list of extras being offered while touring the home to see what you are happy passing on,” says Samuel.

However, keep in mind that if you do think you might want these extra features someday, you’ll probably get a better deal by adding them during construction than you will if you decide to renovate later on. This is for two reasons: One, builders buy at scale, so they get better deals with suppliers and can pass those savings on to you. Two, it saves the cost of demolishing or removing whatever items you are ultimately going to replace.

Basically, it’s always cheaper to build a new home the way you want at the beginning rather than retrofitting it down the line.

3. See if you can negotiate the sales price

While sellers of existing homes are nearly always willing to negotiate the sales price of their home, this isn’t always the case with builders. But you can try.

“Some builders won’t negotiate under any circumstances, but it is always worth a shot,” says Cliff Johnson, vice president of new homes at Realtor.com®. “Builders have [reasons] to keep prices close within the community to ensure they don’t end up with other upset buyers who discover their neighbor got a significantly better deal, though they purchased a home around the same time.”

So while you might be able to negotiate down the price of a new-construction home a little, be wary of trying to lower it too much, as that could ultimately work against you.

“Lowering the sales price, especially in a community where the builder has more homes to sell, is not a great strategy, nor is it good for the appraisals in the community,” says Kimberly Mackey, founder of New Homes Solutions and a sales and marketing management consultant specializing in residential homebuilding. “If the home values start to fall in an area, it isn’t good for the builder and the surrounding property values.”

As a result, a better bet might be to try to negotiate savings in terms of builder incentives (more on those next).

4. Find out what builder incentives might be offered

Builder incentives are basically promotions that developers use to attract buyers, and may include things like money-saving financing options (e.g., builders help with closing costs or buying down the home loan interest rate) or premium upgrades (e.g., installing high-end kitchen countertops for a fraction of the usual price).

Typically, favorable financing can be a boon to buyers during tough financial times when money is tight, whereas premium upgrades benefit buyers who long for a more custom, luxurious home without paying big bucks. Developers tend to offer more incentives during the beginning and end of a project, or during economic downturns that may slow the pace of sales. But it’s always worth asking what incentives can be offered.

One prime time to find incentives is near the end of the year.

“Sometimes a builder will provide incentives at the end of their fiscal year which is late fall of the end of the calendar year for most builders,” says Bob Seeman, vice president of sales, new homes for Realtor.com. “They want to show strong results for the whole year and the summer buying season has ended, so the incentives are often in place to extend that buying season.”

5. Go for the in-house designer’s suggestions

Another cost-cutting tactic for homebuyers is to take advantage of professionally curated “bundles” suggested by the builder’s on-staff designer.

These upgrade packages or bundles of popular features and color choices offered by some builders can save buyers money by keeping them from overspending in the selection center. Also, by offering these packages, the builder can buy premium materials in bulk and pass the savings on to the buyer.

“These bundles can keep a buyer from overimproving a home and assure them that the colors and selections will look great together,” says Mackey.

6. Be flexible on your home’s location

Don’t mind if the house is situated on a (slightly noisier) corner lot rather than tucked into a quiet cul-de-sac? Then this could help you snag a lower price that won’t affect your quality of life there.

“One easy way to get a lower price is to accept a lot that isn’t in a prime location,” says Seeman.

Similarly, if the developer has numerous projects in the works that you’re willing to explore farther afield, this flexibility could work to your advantage as well.

“If the buyer is flexible, they may find that they can get a better offer at a nearby community, depending on how that community is [selling],” Seeman explains.

7. Hire a real estate agent who knows about new construction

It is important to note that not all real estate agents have experience or understanding of new construction, and it can be a slightly different experience from purchasing a pre-existing home. So having an agent who knows this niche can save you money as well.

“I recommend that buyers work with a real estate agent who has received additional training in new construction,” says Mackey. “Buyers should ask their real estate agent to pull the comps before they make an offer on a new home so they can see the sales price others are paying in that neighborhood to put their minds at ease over the values there.”

Experts in Residential Real Estate in Orlando

If you are buying or selling real estate it’s quiet often the single most important financial decision you make. For the last 30 years we have helped clients buying and selling property in Orlando and the surrounding areas. Put simply, this means the knowledge and expertise accumulated over this time ensures our clients get the best representation possible.

Our experienced agents will help and guide you through the entire process providing valuable support every step of the way.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

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What Is a Single-Family Home?

What Is a Single-Family Home?

by | Dec 28, 2022 | Blog, Buyers, Homeowners, Homes, Villas and Condos, News, Real Estate News, Sellers

What Is a Single-Family Home?

What Is a Single-Family Home?

 

The phrase “single-family home” is something you’ll often see when browsing the market or as you search real estate listings. A single-family house might seem easy to define: It’s single-family housing, right? Eh, not exactly. To be classified as this type of home, there are requirements the structure must meet.

What are those requirements? Let’s take a look.

 

What to know about single-family homes

The legal description for this home is “a structure maintained and used as a single dwelling unit.” So what does that mean, exactly? A single dwelling unit will have these characteristics:

No common walls: This home is a stand-alone, detached property, says agent Chrisoula Papoutsakis. This means that the home doesn’t share common walls or a roof with any other dwelling.

Land: A single-family home has no shared property but is built on its own parcel of land.

“The area around the building is for the private use of the owner,” says Kevin Adkins.

Entrance and exit: A single-family home has its own private and direct access to a street or thoroughfare. This is as opposed to an apartment, which has hallways and a lobby that lead to street access.

Utilities: Only one set of utilities can service this home—and may not be shared in any way with another residence. This applies to heating, electricity, water, or any other essential service.

One owner: This home is built as the residence for one family, person, or household, whose owner has an undivided interest in the unit.

Single kitchen: This kind of home has one kitchen. Adding a kitchen to an in-law suite or carriage house will alter a home’s zoning classification.

 

Benefits of buying a single-family home

The type of home you buy depends on your budget and your needs. A house like this will suit a home buyer who’s seeking privacy. Since it is built on its own slice of land, you’ll have some distance from your neighbors.

You’ll also probably enjoy the extra storage space of an attic or garage in a this house, whereas a multifamily home has shared space.

Typical single-family homes on the market also come in many different architectural styles—whether ranch, Colonial, midcentury modern, Cape Cod—as opposed to the more straightforward design of a condo, townhomes, or apartment buildings.

Affordable housing offers lower housing costs, but these structures are usually not of the single-family type.

 

Disadvantages of buying a single-family home

While owning a single-family home will mean total independence, there are a few factors that can be seen as downsides. Condos, townhouses, or multifamily properties may come with common gyms or pools open to all owners; single-family homes don’t usually have community amenities.

The purchase price of a single-family home tends to be higher, since you’re buying an entire lot, says Papoutsakis. That translates into a larger down payment and closing costs, as well as recurring expenses like insurance and property taxes on the full area.

 

Searching for single-family homes

When you start a search of real estate listings for your family, you’ll see a zoning letter in the house’s description.

A single-family home will be zoned “R,” which refers to “Residential,” followed by a number, says real estate agent April Kozlowski. An R1 rating indicates that the land allows for only one home.

Multifamily residences normally have an R2 rating, which means two residential dwellings can exist on the property, typically in the form of a duplex. And an R3 rating permits multifamily units such as apartments or condominiums.

 

 

Experts in Residential Real Estate in Orlando

If you are buying or selling real estate it’s quiet often the single most important financial decision you make. For the last 30 years we have helped clients buying and selling property in Orlando and the surrounding areas. Put simply, this means the knowledge and expertise accumulated over this time ensures our clients get the best representation possible.

Our experienced agents will help and guide you through the entire process providing valuable support every step of the way.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

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How to Sell a Mobile Home

How to Sell a Mobile Home

by | Dec 27, 2022 | Blog, Homeowners, Homes, Villas and Condos, News, Real Estate News, Sellers

How to Sell a Mobile Home

How to Sell a Mobile Home: A Guide on Financing, Price, and More

 

For starters, you should know that these days, they’re called manufactured homes (but we’ll use both terms interchangeably since many people are more familiar with the original moniker). And while you might assume selling this type of home is just like selling a traditional home, it isn’t—and you’ll need to adjust your approach accordingly. Here’s how to sell a manufactured/mobile home, and how it differs from your usual real estate deal.

What is chattel?

If you own the land under your manufactured home, selling both won’t be much different from selling a traditional home. However, if you don’t own the land your home is on and you’re selling just your mobile home, this changes the game in a big way.

“If it is properly secured to land and being sold with the land, it would be considered real estate or real property,” explains Chandler Crouch. “If the mobile home is not being sold with the land, it is considered ‘personal property,’ or chattel.”

How to finance a mobile home

The financing options for buyers of lot lease manufactured homes are also different from those for traditional real estate. Here are four kinds of buyer financing you’ll want to consider.

  • FHA loan: It’s possible to get a traditional mortgage on a lot lease manufactured home, but there are a limited number of lenders who will do it. The FHA will insure these loans, but it has very strict requirements for which properties it will finance. It will also require that the home pass an inspection, and that the buyer sign at least a three-year lease with your park.
  • Chattel loan: A chattel loan is like an auto loan, but specifically for property such as manufactured homes. There are lenders that specialize in this kind of financing—they don’t have nearly as many requirements as an FHA loan, but they do generally require an inspection. Their rates will not be as competitive as a traditional lender’s, however.
  • Owner financing: If your buyer has the cash for a down payment but not the credit score (or willingness) to take out a loan, you can finance the purchase. The way it works is the buyer gives you a down payment, and you agree on repayment terms for the rest of the loan. The title is transferred with the down payment, but you put a lien on the property until it’s paid off. You’ll need a lawyer to help you put this kind of agreement together, and you’ll want to research your buyer thoroughly to ensure he or she is a good bet.
  • Cash: A cash buyer is, obviously, the easiest—and entirely possible given the price of mobile homes. If your home is not in fantastic condition or you owe a lot on the home, a cash buyer might be your best option. The one downside is cash buyers usually have their pick of homes, so you might have to go down on the price to get the deal done.

How to price a mobile home

Selling any home is about finding the right price, one that will help you find a buyer quickly—and avoid languishing on the market for weeks or months—and one that (hopefully) makes you a profit. With a mobile home, you’ll need to consider two separate factors: the value of the land (if you own it), and the value of the mobile home. Typically, the value of the land will go up over time, while the value of the mobile home goes down.

“Mobile homes depreciate like cars; however land appreciates,” says Crouch. This National Appraisal Guide is a great resource for determining the value of a manufactured home. You can also pay to have it professionally appraised. It might cost a few hundred dollars, but the appraiser can help determine the value of the home as it’s currently situated.

How to list a mobile home

If you’re using a real estate agent, you should find one who specializes in selling manufactured homes, because it’s a different certification than a traditional agent. This professional will list your property on the multiple listing service, which feeds into nationwide sites such as realtor.com, which will spread the word to buyers far and wide.

However, if you decide to sell the home yourself without an agent, you’ll need to do a lot of legwork—starting with advertising to make sure people know your home’s for sale. Talk to your park owner, who might have ideas, and wherever you list, explain what kinds of financing you are able to accept, as well as the price, location, square footage, age and make of the home, and any other pertinent information.

How to close on a mobile home

Once you find a qualified buyer, go through the inspection process, and get the funding in place, it will be time to close. If you’re selling the home and land below it, your closing process will be similar to a traditional home’s process; if you’re selling only the home, it will be more like selling a car (and you might need to visit the DMV with your buyer to get the job done).

Selling your home in a 55 plus retirement community

When the time comes to sell your home choosing an experienced Realtor who really understands the market is so important. Probate, Wills, Trusts …they can all contribute to a more complicated transaction. it’s important that you have the right representation. Having completed thousands of transactions we have the knowledge, experience and relationships to make the process stress free and leave you to concentrate on the important things in live like family an friends.

With over 30 years experience of selling property in the 55 plus active adult communities in the Disney Orlando area we have become the acknowledged experts in the Four Corners area. We have sold more retirement homes in the Disney Orlando area than any other independent real estate Brokerage. We understand the unique requirements and restrictions in each of the communities and we even know the difference between mobile and manufactured homes!!!

Click Here for more information or call us today to learn more! (863)424-2309

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

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Florida still top spot for Americans looking to move

Florida still top spot for Americans looking to move

by | Dec 21, 2022 | Blog, Buyers, Homeowners, Homes, Villas and Condos, News, Real Estate News

Florida still top spot for Americans looking to move

Despite cooling US housing market, Florida still top spot for Americans looking to move: study

 

Nearly 25% of U.S. homebuyers are looking to move out of their current metro areas, with many people turning their attention to cities in Florida as their next place to call home, according to a new study. 

“The U.S. housing market has cooled significantly during the second half of 2022 as high mortgage rates, inflation and a stumbling economy deter would-be homebuyers and sellers. But of the people who are still buying homes, an unprecedented portion are relocating to new metros. Many are seeking relative affordability as near-7% mortgage rates and persistently high home prices make expensive parts of the country even more expensive,” Residential real estate brokerage firm Redfin found in a new analysis. 

Redfin found that 24.1% of people looking to purchase a home are seeking to move to a different metro area than where they currently live. The study examined more than two million Redfin users who looked at homes for sale online across more than 100 metro areas from August to October of this year. 

Sacramento came in the top spot for highest net inflow of property searches on Redfin’s website – net inflow is defined as “the number of people looking to move into a metro minus the number of people looking to leave.”

The top metro area where Americans moved to between July 2019 and July 2021 was Sarasota, Florida, according to Mayflower. (iStock) (iStock / iStock)

Half of the top 10 migration destinations on the list are Florida cities, including Miami, Tampa, Cape Coral, and Northport-Sarasota. 

  1. Sacramento, California: 7,800
  2. Las Vegas: 7,100
  3. Miami: 6,700
  4. San Diego: 6,500
  5. Tampa, Florida: 5,600
  6. Phoenix: 4,700
  7. Cape Coral, Florida: 4,600
  8. North Port-Sarasota, Florida: 4,300
  9. Dallas: 3,800
  10. Orlando, Florida: 3,700.

The study noted that people moving to places such as Florida do so because home prices are often far less expensive than in cities such as Los Angeles. 

TheTampa, Florida, skyline seen from Curtis Hixon Waterfront Park. (Photo by: Jeffrey Greenberg/Universal Images Group via Getty Images) (Jeffrey Greenberg/Universal Images Group via Getty Images / Getty Images)

“Relatively affordable Sun Belt metros are typically most popular with relocating homebuyers, largely because buyers can get more home for less money. In Las Vegas, for instance, the typical home cost $410,000 in October, roughly half the price of the typical home in Los Angeles ($823,000)—the most common origin for people moving there,” the study said. 

The study additionally found that the majority of people looking to move are from large cities such as San Francisco and Los Angeles.

“More homebuyers looked to leave San Francisco, Los Angeles, New York, Washington, D.C. and Boston than any other major metro. That’s determined by net outflow, a measure of how many more Redfin.com users looked to leave an area than move in,” the study noted. 

A view of the Manhattan skyline with the Statue of Liberty and the Empire State Building from the Tear Drop 9/11 Memorial during the fourth phase of reopening on August 30, 2020 in Bayonne, New Jersey. The fourth phase allows outdoor arts and entert ((Photo by Roy Rochlin/Getty Images) / Getty Images)

The study found that 24% of San Francisco Redfin users were looking to relocate to other areas, compared to 20% of users in Los Angeles, 27% in New York City, 18% in Washington, D.C., and 19% of users in Boston. 

A similar study published by Lending Tree last month found that states with the highest rates of people looking to move out of state lived in high-cost areas, such as New York, Hawaii and Massachusetts.

On the flip side, the states with the highest rates of people looking to stay where they are living include Texas, Michigan, Ohio, Oklahoma and Florida. 

Source

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