Central Florida Real Estate Video Blog with Jennifer Encarnacion

3 Mistakes Buyers Make With the Inspection

Thu, 16 Dec 2021 00:00:00 +0000

Here are three common mistakes buyers make with home inspections.

I’m here with my favorite inspector, Fernando, the owner of Unique Property Inspections. We want to share the three most common mistakes buyers make with the inspection. Let’s dive right in:

1. Not pulling permits for repairs. Believe it or not, this is a big issue in Florida, especially for roof repairs. Many insurance companies aren’t insuring homes if the roof has any issues. When you make repairs, get those permits pulled.

This is a Florida issue. The insurance looks at a document called the four-point report when you buy a home. You have to fill out the dates and permit numbers of repairs on that report. If you don’t have those permit numbers, the repairs don’t get documented with the county, and that can cause issues with your insurance.

2. Not understanding the inspection. Many buyers think the inspector will check inside a wall or move things, but inspectors don’t usually do those things. It’s a visual inspection based on the experience of the inspector.

“You need to know what you’re buying.”

If you attend the inspection, the inspector should help you understand the major findings at the end. Don’t freak out when you get the report. Even if it’s an inch thick, there might only be two pages that matter. Make sure you ask questions so that you completely understand what’s going on.

3. Not reading the report. You paid good money for this; make sure you read the report. If you don’t have time, make that time. You need to know what you’re buying. If it’s hard to get through, have your Realtor read it with you.

I hope this conversation helped you. If you have any questions about inspections or need a good inspector, reach out to Fernando at [phone number]. If you have any other real estate questions or needs, feel free to reach out to me via phone or email. I’d love to help.

Is Now The Right Time to Buy?

Mon, 08 Nov 2021 00:00:00 +0000

Interest rates are why you shouldn’t wait a year to buy your house.

Is it worth it to wait to buy your home? In September, interest rates peaked at about 3%. That’s the highest they’ve been in several months. However, don’t get discouraged; 3% is still a record low.

Freddie Mac and Fannie Mae are predicting an increase of about 0.5% to 1% in one year from now. If you buy a home then, your interest rates would be about 3.5% to 4%. Getting an extra 0.5% in interest rate may not seem substantial to some, but let me break this down. A 0.5% increase in your mortgage payment means about an extra $100 per month over a 15-year or 30-year span. That’s a lot of money waiting that a year will cost you. Clearly, waiting is not the answer and will not allow you to afford more home at a smaller mortgage payment.

Give me a call today, and let’s see what waiting a year would look like for you. I’m glad to help you with a plan so that you’re not wasting $50,000 over the next 15 or 30 years. I look forward to hearing from you.

3 Ways You Can Sell Your Home Faster

Tue, 19 Oct 2021 00:00:00 +0000

Here are three simple tips that can help you sell your home faster.

Today we’re going to talk about three easy ways you can get your home sold quickly:

1. Stage your home. A lot of people don’t like staging, and that’s okay. However, here’s a tip on how to stage on a budget: Anything with a flat surface should be empty, except for a few small exceptions. In the kitchen, for example, it’s okay to have something like a coffee maker huddled up in a corner, but don’t keep the mugs, filters, and grinds on the counter as well; that’s way too much.

2. Get qualified buyers. You might not know, but over 900 people move to Florida a day. There’s a trend with these buyers that they’ll put out a lot of cash offers site-unseen, but just when you think you have a solid contract, they’ll cancel that offer. This can waste a lot of your time, so your agent needs to qualify the buyer with whom you decide to go under contract.

“Hire someone who has the experience to get you what you want in the time you want it.”

3. Who you hire matters. I can’t tell you how many stories I hear about people who despise Realtors. I get it; I have to work with these people. However, just keep in mind that you have to hire someone you trust, like, and who has the experience to get you what you want in the time you want it. Interview your choices, and remember that there are 17 different areas you can negotiate on in a contract, so don’t just go with someone who promises the highest price.

I hope these tips were helpful for you. They’re easy, and you can use them no matter where you are in the world. If you have any questions about this or other real estate topics, feel free to give me a call. I would love to help.

Should You Buy an Existing Home or a New Build?

Fri, 24 Sep 2021 00:00:00 +0000

Here are the top three reasons why you should choose new construction.

If you’re thinking about buying a new house and are on the fence about purchasing an existing home or new construction, let me give you some valuable information. Here are the top three reasons why you should consider purchasing a new construction home instead of an existing one:

1. We all like to live new and fresh. The pre-owned home market is very scarce, and it’s tough to find properties with warranties on anything in the house. When you buy a new home, you get lots of manufacturer warranties on your appliances and systems.

2. Upgrades. The majority of people want to enjoy their home right after buying it. An existing home could need some serious work before you get to enjoy it.

“Work with a Realtor that has great relationships with builders.”

3. The incentives they give to the buyer. You can get incentives towards closing costs or upgrades when you buy brand new. These do depend on the builder, but our team has relationships with several different builders who have great incentives.

If you’re working with a Realtor who doesn’t have industry relationships in the new home market, you’re doing it all wrong. Make sure you’re working with a Realtor who you trust, who you like, who has great relationships with builders, and that knows these transactions inside and out so that you can get a great deal.

If you have any questions, don’t hesitate to give me a call or send me an email. I’d love to hear from you and help in any way I can.

Add Value to Your Home With Renovations

Thu, 05 Aug 2021 00:00:00 +0000

Here are four excellent renovations that add value to your home.

Here are four renovations that will add value to your home or the next one you purchase:

1. A treehouse. This one may surprise you, but you can’t go wrong with building a fantastic treehouse. It’s a fun place for kids to play, and it’ll appeal to the next person who buys your home if they have children.

2. Outdoor space. We’re in the sunshine state, so having an attractive place to entertain family and friends will certainly add value. A fire pit, outdoor kitchen, or covered patio are all great things to add to your home that provide a good bang for your buck.

“You can’t go wrong with building a fantastic treehouse.”

3. More office space. More quiet spaces for the adults and children in your house will attract buyers. Not everyone will be working in a traditional office building anymore. Now we need space and decorations in the background for virtual work and school.

4. Smart technology add-ons. There’s nothing more appealing than showing a home with helpful, comprehensive tools. Whether it’s a refrigerator you can play music with or a microwave that talks to you, whatever you choose should be appealing to the eye. Buyers will be interested in any smart technology.

If you have questions about renovations that add value to your home (or ones that don’t), feel free to reach out to me via phone or my website anytime. I’m here to help.

Why You Should Invest in the Orlando Area

Mon, 03 May 2021 09:00:00 +0000

I’m sharing why this crazy market is perfect for investors in Florida.

Today we’re going to discuss exactly why people are investing in Florida. Now is the time to invest in the Orlando and Central Florida area. I’m sure you’ve heard about the crazy market, so today we’re going to talk about why this market is perfect for investors like yourself.

1. It’s a strong market right now for both short- and long-term renting. I had a client one time who didn’t know whether it was the right time for her to buy a house. We spoke about it, she went with it, closing approaches, and she decides she wants to stay a little bit longer where she currently lives. I said, “Why don’t you see what happens when you Airbnb it?” This happened when she closed in October, and since then, the only time she had was a small gap to clean it up and get it ready for the next appointment.

2. Demand is through the roof right now. Inventory has shrunk from last month to this month. Demand is growing as more people seek refuge in the sunshine state. We have people that are submitting offers of $20,000 to $50,000 over list price without any contingencies. Just a couple of weeks ago, I put a home on the market, and the only marketing we did for that home was to the community.

“Now is the time to invest in the Orlando and Central Florida area.”

I had one person reach out to me and offer $30,000 above list price without any contingencies. Closing is in two weeks, and this same home can sell for maybe $40,000 to $50,000 more. I only know that because the offers I got once I put it on the market were for that much more. It’s always up to the sellers to decide what to do. In this case, they went with the offer that came first because it was a friend of theirs. That’s how quickly you can get equity if you buy the right home in Central Florida.

3. The sunshine state is the number one place to visit nationwide. We have over 75 million people come to visit attractions like Disney World, the Wizarding World of Harry Potter, and Universal Studios every year. All of our beaches are open, and a lot is going on around here.

If you have any more questions about cashing in to take advantage of all the fun that’s happening in the sunshine state, I’d be more than happy to speak with you. Jose Aponte is a trusted lender and can also assist you. Contact Jose via email at japonte@approvedfl.com. You can reach me at (407) 394-9342 and journeywithjene@gmail.com. I look forward to hearing from you.

My Guide to Winning a Multiple-Offer Situation

Mon, 29 Mar 2021 09:00:00 +0000

Let’s talk about how you can win in a multiple-offer situation.

The real estate market is crazy right now! More and more buyers are looking for homes to purchase and inventory is shrinking. That means that buyers will undoubtedly be up against multiple offers when they do find a home they want. So how can you position yourself against the competition and come out on top? Here are my tips:

1. Make your earnest money deposit as large as you can. Your earnest money goes toward your closing costs anyway, so why not show the sellers how dedicated you are to winning this bidding war? Getting a little aggressive with that number will only benefit you.

2. Have your pre-approval ready to go. Many people want to find a house before they go through the mortgage process, but having your pre-approval letter on deck will show the seller how serious you are, not to mention how it can also bring up a number of other negotiating points.

“Buyers will undoubtedly be up against multiple offers.”

3. Be flexible with your closing date and acceptance time. Dates are often a touchy subject when it comes to contracts, but you can make your offer stand out to the seller by allowing them extra time to move (if they need it) after closing.

4. Cut down the inspection time. In today’s market, the typical inspection period is around 10 days. If you’re working at the right pace and with the right person, you should be able to cut that time in half. The seller sees that period of time where a buyer can pull out of the deal without any penalty, so by shrinking it, you’re showing the seller that you’re in it for the long haul.

5. Make an offer above list price. If you really want to win in a multiple-offer situation, sometimes you have to go higher than list price. I’ve heard of some properties selling for as much as $25,000 over list price! Now, for some, that’s not always feasible, but there are still other ways to entice a seller, such as by waiving the appraisal (mind you, you will need your lender’s approval if you do that).

If you have any questions about buying a home in today’s market, don’t hesitate to reach out to me. I’ll be glad to help however I can.

Take These 3 Steps Before You Buy a Home

Mon, 15 Mar 2021 09:00:00 +0000

Follow these three steps before you buy your next home.

Before you purchase your next home, you need to take the following three steps:

1. Connect with a Realtor you know and trust. Buying a home is an emotional rollercoaster, so you need to have someone strong by your side to educate you about the process. Having a Realtor you trust makes a world of difference, so interview more than one to make sure you’ve found the right one.

2. Educate yourself on what’s happening in the market. There’s a lot going on across the market, especially in Florida, and certain parts of town may not be the right fit for you right now when it comes to purchasing power.

“Buying a home is an emotional rollercoaster, so you need to have a strong Realtor by your side.”

3. Get pre-approved. This process is different if you’re an entrepreneur or a W-2 employee. For entrepreneurs, a lender will look at the last two years of your tax returns; I can’t stress the pain that I see in many of my entrepreneurial clients when they find out that they won’t be qualified for the amount they wish because their returns reflect a low income. If this is your situation, speak to your tax accountant and lender about what the process should look like and come up with a game plan. For W-2 employees, it’s a bit simpler, but it all still boils down to your tax returns. You also can’t be on unemployment if you want to get pre-approved, unfortunately.

If you have any questions, feel free to reach out to us. We’re here to help.

Welcome To My Blog

Fri, 12 Feb 2021 00:00:00 +0000

Our market remains busy, and it’s still an opportune time to command a high price selling your home.

I know what’s happening in the local real estate market, specifically pertaining to home values, that will directly affect you.

So, I’ll be posting two monthly video messages on this blog to keep you updated.

They will be valuable and useful in helping you stay on top of what’s happening in the community.

Check back because content will be coming soon!

I’m excited to keep you updated on what’s happening in the area!