Wednesday, May 19, 2021 / by Peter + Traci Prantner
The number of new listings on the market is still down 6% compared to last month and 11% from this time last year. There are 13% fewer listings from this time two years ago. Houses are staying on the market almost 2 whole weeks less than this time last year and is half of what it was two years ago! Interest rates are still around 3%.
Here are some quick statistics for Osceola, Polk, and Orange counties.
This is comparing April 2020 to April 2021. The number of houses sold did increase 44% from the prior year! Because of the high interest in buying and a lack of houses for sale to support the demand of buyers, the average price of houses has increased again from this time last year by 26%. Supporting proof for this demand is the fact that the average days on the market continues to be TWO WEEKS from this time last year!!! Houses sold in April 2021 on average sold at or above list price. Even though demand is high and therefore prices are increasing, it is still super ...
Wednesday, May 12, 2021 / by Peter + Traci Prantner
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Today we are talking about Zestimates and other automated home values. Specifically for Zestimates, I have noticed the following lately: First, they are much lower than what houses are actually selling for. This is an automated algorithm. It isn't looking at the current market and the demand with multiple offers being made on houses. Typically algorithms use sold prices, which is still low in today's market. What is sold today is a lower price than what is going under contract today. When we evaluate prices for listing or purchasing, we take what has sold and have to bump it up a little to match today's market. Second, Zillow is their own buyer and it has me wondering if they are valuing houses lower to give themselves the opportunity to buy low. Keep in mind, this is my own observation and my own thoughts. I have no fact to base this on. Third, when a house goes on the market the value changes from what was listed the day before when it was off the market. Y. ...
Wednesday, May 5, 2021 / by Peter + Traci Prantner
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Why should you use an agent when you are buying a house? We have come across three reasons people don't want to use their own agent. Each of these have possible issues associated with them and we want to educate you on these possible landmines.
Reason #1 - I Can Just Work With The Listing Agent
While it is totally possible to work with the listing agent, you need to keep the following in mind. The listing agent was the seller's client first. It is less probable the listing agent can truly seek the best interest of both the buyer and the seller at the same time. There will be competing interests throughout the home buying process. When you have your own agent, they look out only for your interests. For us, because we are a team, if we have a buyer and a seller on the same property, we split it up to make sure each party is represented. Get an agent that can look out for your needs and your needs only.
Wednesday, April 21, 2021 / by Peter + Traci Prantner
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We are so happy that we moved to Florida. Here are some reasons we like Florida so much and what attracted us to Orlando.
1) Warm Weather - The hot summers don't bother us and out way the cold, snowy weather we get to skip. Being able to wear flip flops and shorts almost year-round is wonderful!
2) Things to Do - Living in the Orlando area, there are so many things to do. We have nature trails all around, lakes to boat on. Although central Florida is pretty flat, if we want to feel of hills, just go to Groveland and drive around. Orlando is of course full of tourist attractions. There is Disney, Universal Studios, Legoland, Sea World, Busch Gardens. That alone would take you days to visit. Because of all the tourists Orlando area is full of other things to do too... Things like escape rooms, museums, smaller amusement parks, go kart places, and so much more. Many of these offer discounts to Florida r ...
Wednesday, April 14, 2021 / by Peter + Traci Prantner
This week we are answering some frequently asked questions. Here are four of the more popular questions we get.
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Question: When you are trying to buy a house, what you should not do?
Answer: Three things... 1) Do not cause income to go down. This will negatively impact your buying power, meaning you will not get approved for as high priced of a house. Do whatever you can to not change this. Don't work fewer hours if you are hourly. If you are self employed, do not have your expenses go up or your revenue to go down. Your income is based on your net revenue. 2) Debt to go up. Don't open any new credit cards, don't buy a new car or lease anything. Don't do anything to cause to your required monthly payments to go up. This includes carrying a higher balance on your credit cards having your monthly credit card minimums go up. 3) Anything to change your credit score, specifically letting your credit score go down. This inc ...