Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there, watching entire seasons of shows like “Property Brothers,” “Fixer Upper,”and “Love It or List It,” all in one sitting.
When you’re in the middle of your real estate-themed TV show marathon, you might start to think everything you see on the screen must be how it works in real life. However, you may need a reality check.
Reality TV Show Myths vs. Real Life:
Myth #1: Buyers look at 3 homes and decide to purchase one of them. Truth: There may be buyers who fall in love and buy the first home they see, but according to the National Association of Realtors, the average homebuyer tours 10 homes as a part of their search.
Myth #2: The houses the buyers are touring are still for sale. Truth: Everything is staged for TV. Many of the homes shown are already sold and are off the market.
Myth #3: The buyers haven’t made a purchase decision yet. Truth: Since there is no way to show the entire buying process in a 30-minute show, TV producers often choose buyers who are further along in the process and have already chosen a home to buy.
Myth #4: If you list your home for sale, it will ALWAYS sell at the open house. Truth: Of course, this would be great! Open houses are important to guarantee the most exposure to buyers in your area, but they are only one piece of the overall marketing of your home. Keep in mind, many homes are sold during regular showing appointments as well.
Myth #5: Homeowners decide to sell their homes after a 5-minute conversation. Truth: Similar to the buyers portrayed on the shows, many of the sellers have already spent hours deliberating the decision to list their homes and move on with their lives and goals.
Bottom Line
Having an experienced professional on your side while navigating the real estate market is the best way to guarantee you can make the home of your dreams a true reality.
PHP Houses 142 W Lakeview Ave Ste 1030 Lake Mary, FL 32746 Ph: (407) 519-0719 Fax: (407) 205-1951 email: info@phphouses.com
1. Get rid of clutter. Throw out or file stacks of newspapers and magazines. Pack away most of your small decorative items. Store and out of season clothing to make closets seem roomier. Clean out the garage.
2. Wash your windows and screens to let more light into the interior.
3. Keep everything extra clean. Wash fingerprints from light switch plates. Mop and wax floors. Clean the stove and refrigerator. A clean house makes a better first impression and convinces buyers that the home has been well cared for.
4. Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Open the windows.
5. Put higher wattage bulbs in light sockets to make rooms seem brighter, especially basements and other dark rooms. Replace any burnt-out bulbs.
6. Make minor repairs that can create a bad impression. Small problems, such as sticky doors, torn screens, cracked caulking, or a dripping faucet, may seem trivial, but they’ll give buyers the impression that the house isn’t well maintained.
7. Tidy your yard – cut the grass, rake the leaves, trim the bushes and edge the walkways. In the winter, keep the stairs and driveway snow free.
8. Patch holes in your driveway and reapply sealant, if applicable.
9. Clean out your gutters and polish your front door, doorknob and house numbers.
10. Finally, list your home with Walter DiLoreto for maximum exposure and to ensure your home gets the attention it deserves. Walter will be there to help you every step of the way and make sure your home gets sold in today’s competitive market. Free Market Analysis
Contact Us: Walter DiLoreto 142 W Lakeview Ave Ste 1030 Lake Mary, FL 32746 Ph: (407) 519-0719 Fax: (407) 205-1951 email: info@phphouses.com
With millions of homes across the country going into foreclosure, it’s important for both buyers and mortgage holders to understand the process.
So what is a pre-foreclosure in Florida anyway?
Many homeowners across America are facing difficulties making their monthly mortgage payments.
When a homeowner misses 3-6 months of mortgage payments, the lending institution will issue a warning, notifying the homeowner to pay or lose their home. If a homeowner fails to make the necessary payments, the bank will file an action to foreclose on the home in the court. Thankfully, during this stage of the process, a mortgage holder has the opportunity to take advantage of several options to prevent losing their home.This period is known as “pre-foreclosure.”
Banks and mortgage lenders typically provide three months for the homeowner to become current before they go to court and file the action to Foreclose on the property. Of course this number can vary by bank and situation sometimes.
Pre-foreclosure Options for Borrowers
If you’re behind on mortgage payments, you’re likely to receive a “notice of default” from your mortgage lender.
This document will state that you have not made mortgage payments for the last 90-180 days. It’s important not to panic.
You have options that can delay or even prevent losing your home:
If your mortgage is “above water,” (meaning you have equity in your house) you may be able to refinance your mortgage, receiving lower monthly payments. Check with your local mortgage broker… or contact us and we can connect you with a reputable one.
You may be able to quickly sell your home to a real estate investor that’s reputable in Central Florida like us at PHP HOUSES LLC, using the cash acquired to pay the months of back-payments owed (or we *may* be able to work out something with the lender that relieves all or part of your back payments. We can buy your Central Florida area home quickly, often in just a week or two, will pay in cash, and takes the stress out of trying to find a buyer.
You can contact the bank and ask them to permit a short sale. In a short sale, you’ll sell your home for less than it’s worth, and the bank will take the loss as a tax write-off. In some short sales you may still be required to pay the difference to the bank if the house doesn’t sell for what is owed on the loan.
You may be able to declare bankruptcy, which can buy you time to pay your debt. Bankruptcy will remain on your credit report for years, and can cause significant damage.
You may be able to Deed-in-Lieu your house, deed in lieu of foreclosure occurs when the homeowner deed the property to the lender to satisfy a loan that is in default and avoid foreclosure proceedings. The deed in lieu of foreclosure offers several advantages to the lender and some disadvantages to the borrower.
Lenders are very much aware of the widespread financial troubles across the country and they’re willing to work with borrowers a lot of the time.
If you’re honest and communicate with your lender, you’ll often find that there are options that will allow you to remain in your home, or at least salvage your credit rating.
A foreclosure can often negatively affect your credit score by 200-400 points and can prevent you from obtaining a loan of any sort for 5-7 years, so be very dutiful if you’ve received a Notice of Default from your lender.
But if you’re not able to find a solution with your lender working directly with them… connect with us. We may be able to help.
Ways We Can Help If You’re In Pre-Foreclosure
We can potentially help with a short sale – Submit your info on this website so we can evaluate your situation to see if we can help.
You can ask us questions and we can provide you FREE guidance and resources so you can make a well educated decision. This costs you nothing, there’s absolutely no pressure, no obligation… just free guidance without a catch.
If you’re in the pre-foreclosure stage… you’ve still got time to fix this situation.
Just connect with your bank to see if they’re willing to work with you… or contact us if you’d like to see what we can buy your house for or to tap into our free foreclosure foreclosure resources.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 519-0719 Fax: (407) 205-1951 email: info@phphouses.com
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. The author will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
