Welcome to Margaritville

by Elsa Soto | Nov 17, 2021 | Blog, Buyers, Homeowners, Homes, Villas and Condos, Investment Property in Florida, Local Events, Long Term Rental, New Construction, Theme Parks and Attractions, Things to Do in Orlando

Welcome to Margaritville

BUY. CHILL. RENT. VACATION PARADISE

Capture that Orlando vacation feeling any time, when you own a private oasis in paradise at Margaritaville Cottages. Live the magical concoction of “Ahhhs” and “Wows!” in these beautifully designed vacation Cottages with loads of exciting amenities just steps away.

Modern amenities and high-end furnishings provide the comfort, while floor-to-ceiling windows — showing off the lush surroundings and expansive lagoon pools — create a Caribbean vibe.

As spectacular as all the entertainment options are in the area, there’s plenty to experience at the resort. From our high-end spa to the tropical pool, there’s something here for everyone. Explore our on-site experiences and start planning your days in paradise.

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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Buying and Selling a home at the same time

by Elsa Soto | Nov 12, 2021 | Blog, Buyers, Real Estate Components, Renters, Sellers

Buying and Selling a home at the same time

If you already own a home, the premise of buying another house can be pretty daunting.

Do you sell your home first and live in limbo while looking for another, or do you buy now and foot the bill for two mortgage payments until you’re able to sell? Can you time it perfectly and do both at once? while you can’t control everything that happens during the complicated buying and selling process, there are some things you can do to set yourself up for smooth closings — maybe even on the same day!

Here are some things to consider

Evaluate the local housing market

The state of the real estate market in your area is often the biggest factor in timing your home purchase and sale correctly. Knowing what kind of market you’re in is important whether you’re just moving across town, or if you’re moving across the country. If you’re selling in one market and buying in another, you’ll need to factor that into your timing. The length of time it takes to buy and sell can vary dramatically depending on the local real estate scene.

Buying Before Selling

Pros

The most obvious pro about buying a house before selling your current one is that you know you’ll have a place to go when you sell your place. There’s nothing more frustrating than having to find a short-term rental, especially if you have pets, kids or heavy furniture like a piano. Many places don’t allow month-to-month rentals if you’re a new tenant which means you may have to pay for multiple months of rent even if you only need a month.

Plus, if you have a home to move into, then you won’t have to pay for moving expenses twice. You also won’t have to worry about living out of boxes.

Cons

Not selling your house before you buy your next one could leave you on the hook for two mortgage payments at the same time. Homeowners need to have a plan for how they’ll pay for two mortgages. This could be financially devastating, especially if selling your home proves harder than you realized.

Selling Before Buying

Pros

When you sell your home before buying a new one, you’re no longer on the hook for paying two mortgages at once. This means you don’t have to feel rushed into making a housing decision. If you have somewhere to stay after closing, then you can also take your time and make sure your next home purchase is the right one.

Cons

When you sell a home before buying one, you’re leaving it up to chance that you’ll find something that fits your lifestyle and your budget. Some people have discovered through the process of selling their home that they’re better off staying put and remodeling.

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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When should you buy your retirement home?

by Elsa Soto | Nov 12, 2021 | Blog, Buyers, Homeowners, Real Estate News, Renters, Retirement / 55+, Sellers

When should you buy your retirement home?

Making financial plans for retirement is essential, but sometimes even the most well-intentioned actions can have negative consequences. Before buying your next ‘forever’ home, consider these potential downsides.

Tastes will change over time

Do you have the same style today that you did five, ten, or fifteen years ago? Maybe not. If you’ve owned a home for a long time before retirement, you may need sizable renovations to keep the home current, even if you plan to sell your home

Even if you are willing to take on a renovation, not all aspects of a home can be changed. This is particularly true of location. Perhaps you bought a vacation-retirement home in a sleepy beach community, the perfect escape from the stresses of the daily grind. Once retired, you may find this setting a bit lonely or lacking enough activities to fill your days.

Buying in a 55 plus community

If you are considering buying in a 55 plus community in Orlando or Central Florida we can help. The team of Realtors at Bardell will guide you through the process of finding the right 55 plus community based on your specific requirements. Florida’s welcoming climate and pace of life provides an irresistible combination but to get enjoy retirement to the full start with choosing the right community.

Find the right 55 plus community for you.

Affordable 55 plus community homes in Orlando are constantly in demand. For most people their lifystyle will have a direct impact on the ammenities that they are looking for within a 55 plus community. Do you want to live in a golf community, do you want lake access, are the club house facilities important ? We have access to homes for sale in all the 55 plus communities and several of our Realtors already call them home and will be happy to share their experiences.

Different ways to approach buying a retirement home

There’s no one-size-fits-all approach, but for some, it can be advantageous to wait until you’re much closer to retirement to begin seriously searching. If you’re thinking of moving away, consider spending extended vacation time in the town or city. Ideally, renting a home in the neighborhood you’re thinking of moving to can help you experience life as a local. It’s one thing to visit as a tourist—but living somewhere can be an entirely different experience.

If you’re a ‘snowbird,’ you may ultimately decide to forgo the traditional two-home arrangement. Through rental websites like Airbnb or VRBO, it can be quite easy to explore a new city or country every year for a period during the winter months. This model offers flexibility, potential cost-savings, and helps keep individuals engaged with new activities.

Homeowners who are eagerly looking to move on from a house that will take some time to sell may want to consider putting their home on the market early enough to capture more than one selling season. To avoid carrying multiple homes, you could consider renting if your house sells before your retirement date.

Choose a retirement specialist (SRES)

There is no substitute for experience and we have been selling homes in 55 plus communities for over 3o years. It may have been a few years since you last purchased a home but we manage this process for our clients each and every day and have helped thousands of clients looking for homes for sale in Orlando.

Buying a house at any stage is a major purchase, so it’s important to discuss your plans with your financial advisor and a real estate professional. Flexibility can pay off financially, which is something worth considering before buying a retirement home too early.

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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Making Sense of Today’s Housing Inventory

by Elsa Soto | Nov 6, 2021 | Blog, Buyers, Real Estate News, Renters

Making Sense of Today’s Housing Inventory

5 Factors That Reveal Where The Real Estate Market Is Really Headed

It’s the old supply-and-demand predicament: Home sales in the U.S. continue at a torrid pace, but the availability of listings remains limited. Buoyed by historically low mortgage rates, buyers keep shopping for homes, reducing the available inventory and sparking a rise in home prices across the country.

News website The Atlantic summarized the sizzling home market this way:

“Pick a housing statistic at random, and it’s probably setting an all-time record. Home prices: record high. Inventory: record low. Percentage of homes selling above asking price: record high. Average time on market: record low.”¹

Meanwhile, homebuilders are contending with an increase in material costs and a shortage of labor. These issues come amid an ongoing shortage of housing. A study commissioned by the National Association of Realtors found the U.S. is coping with a deficit of about 2 million single-family homes and about 3.5 million other housing units.²

So what can we expect from U.S. real estate? Here are five factors that illustrate where the housing market is today and is likely heading tomorrow.

ROCK-BOTTOM MORTGAGE RATES TO GRADUALLY RISE

Low interest rates continue to fuel demand from homebuyers. Some experts believe mortgage rates will creep up later this year, but they expect rates to remain near historic lows.³ However, the Federal Reserve signaled in mid-June that it may institute two interest rate hikes as soon as 2023, which could then trigger a more substantial uptick in mortgage rates.⁴

In June, the Mortgage Bankers Association reported that 2020 closed with the average rate for a 30-year, fixed-rate mortgage sitting at 2.8%. But the association anticipates the average rate climbing to 3.5% at the end of 2021 and 4.2% by the end of 2022.⁵

“As the economy progresses and inflation remains elevated, we expect that rates will continue to gradually rise in the second half of the year,” said Sam Khater, chief economist at Freddie Mac.⁶

What does it mean for you?

You’ve likely heard the old saying about “striking while the iron is hot.” Well, that phrase applies to the current environment for mortgage rates. It’s impossible to predict with certainty when mortgage rates will rise or fall. So, when mortgage rates are at or near historic lows (as they are today), you should seriously consider taking advantage of those rates to borrow money for a home purchase or to refinance your existing mortgage.

HOME PRICES EXPECTED TO KEEP CLIMBING

Low mortgage rates are sparking interest among homebuyers, but some are running into affordability issues.

In June, the national median list price for a home reached an all-time high of $385,000, up 12.7% on a year-over-year basis.⁷ And according to the Home Buying Institute, various reports and forecasts indicate home prices will keep climbing throughout 2021 and into 2022.⁸

While this may be welcome news for homeowners, high prices are pushing homeownership out of reach for a growing number of first-time buyers. In a recent CoreLogic survey, 82% of respondents listed housing affordability as a key problem.⁹

“Younger and first-time buyers, including younger millennials, are faced with the challenge of having sufficient savings for a down payment, closing costs and cash reserves,” said Frank Martell, President and CEO of CoreLogic. “As we look to the balance of 2021, we expect price rises to continue which could very well push prospective buyers out of the market in many areas and slow home price growth over the next year.”⁹

What does it mean for you?

If you’re a buyer waiting on the sidelines for prices to drop, you may want to reconsider. While the pace of appreciation should taper off, home prices are expected to continue climbing. And rising mortgage rates will only make a home purchase more expensive.

SINGLE-FAMILY HOME SALES REMAIN ROBUST

While record-high prices are sidelining some buyers, the impressive pace of single-family home sales marches on.

Single-family home sales are down from their peak in October 2020 yet are still above the overall level last year. In May 2021, 5.8 million existing single-family homes were sold in the U.S. That’s a 45% increase over the 4 million homes sold in May 2020.¹⁰

However, home sales saw a 0.9% dip in May 2021 compared with the previous month, the National Association of Realtors says. That was the fourth straight month for a decline in home sales. The number of home sales has slid recently because of rising prices coupled with a shortage of available homes amid intense demand.¹⁰

Fannie Mae expects total home sales to tick up slightly in the fourth quarter and finish the year up 3.8% over last year. They also forecast a slight decline of 2.2% in sales volume in 2022.¹¹

What does it mean for you?

The market for single-family home sales remains quite active. As a result, if you’re a homeowner, you may want to ponder whether to sell now, even if you hadn’t necessarily been thinking about doing so. With demand high and inventory low, your home could fetch an eye-popping price.

LACK OF INVENTORY STILL CONSTRAINS THE HOME MARKET

According to the National Association of Realtors, in May there were 1.23 million previously owned homes on the market, down 20.6% from the same time last year.¹⁰This translates to a 2.5-month supply of homes, which is well below the 6 months of inventory typically seen in a balanced market.^10,12

According to the Realtors group, this lack of inventory translates into tougher searches for buyers and contributes to a rise in prices.¹⁰

“Demand for bigger and more expensive accommodations amid the COVID-19 pandemic, which has left millions of Americans still working from home, is driving a housing market boom. The inventory of previously owned homes is near record lows,” according to Reuters.¹³

What does it mean for you?

If you’re thinking of selling your home, now may be the right time to do it. Across the country, it’s a seller’s market, meaning demand is outpacing supply. That supply-and-demand imbalance puts sellers in a great position to sell their homes at a premium price. The May 2021 Realtors Confidence Index from the National Association of Realtors found the average home that was sold attracted five offers, and the association says nearly half of homes are selling above list price.^14,15

CONSTRUCTION OF SINGLE-FAMILY HOMES SEES SLIGHT UPTICK

Frustrated buyers may soon find some relief, however, from an increase in new construction. Economists forecast that 1.1 million new houses will be started in 2021, compared with a predicted 940,000 units just six months ago, with 1.2 million new starts predicted for 2022 and 2023, according to the Urban Land Institute.¹⁶

Amid the rise in home construction, builders are coping with rising costs for materials. In April, the National Association of Home Builders estimated that a surge in lumber prices over the previous year had led to $35,872 being tacked onto the cost of an average new single-family home.¹⁷

“Shortages of materials and labor have builders struggling to increase production of new homes, though the demand remains strong,” Robert Frick, corporate economist at Navy Federal Credit Union, told the Reuters news service. “Potential homebuyers should expect tight inventories and rising prices for both new and existing homes for the foreseeable future.”¹⁸

Builders (and buyers) did receive some good news in June, though: Lumber prices are coming down—although likely to remain above pre-pandemic levels for the foreseeable future.¹⁹

What does it mean for you?

Given the issues affecting the new-home market, it may make sense to widen your home search to include both new and existing homes. Your brand-new dream home may not be available, but you might be able to find an existing home that lives up to your vision. Keep in mind that we can help you find either a new or existing home and can advocate for you to ensure you get the best deal possible.

ARE YOU THINKING OF BUYING OR SELLING?

If you’re in the market for a home, you’re ready to sell your house or you’ve simply been wondering whether you should sell, you definitely could benefit from an expert to help you navigate the sizzling hot real estate market. Let’s set up a free consultation to discuss your situation. We can help you figure out your options and come up with a plan to capitalize on the value of your current property or to find your ideal next home.

Sources:

The Atlantic –
https://www.theatlantic.com/ideas/archive/2021/05/us-housing-market-records/619029/
Wall Street Journal – https://www.wsj.com/articles/u-s-housing-market-needs-5-5-million-more-units-says-new-report-11623835800
Time –
https://time.com/nextadvisor/mortgages/mortgage-predictions-2021/
Bankrate –
https://www.bankrate.com/banking/federal-reserve/fomc-meeting-recap-june-2021/
Mortgage Bankers Association – https://www.mba.org/news-research-and-resources/research-and-economics/forecasts-and-commentary/mortgage-finance-forecast-archives
Associated Press News –
https://apnews.com/press-release/globe-newswire/mortgages-mortgage-rates-business-0fc0360d0f4af0c988504385fa2794c3
com –
https://www.realtor.com/research/june-2021-data/
Home Buying Institute –
http://www.homebuyinginstitute.com/news/home-prices-will-keep-rising-through-2021/
DS News –
https://dsnews.com/daily-dose/07-06-2021/record-high-home-prices-intensify-affordability-challenges
National Association of Realtors –
https://www.nar.realtor/newsroom/existing-home-sales-experience-slight-skid-of-0-9-in-may
Fannie Mae –
https://www.fanniemae.com/media/40561/display
Real Estate Center at Texas A&M University –
https://assets.recenter.tamu.edu/documents/articles/2046-7.pdf
Reuters –
https://www.reuters.com/world/us/us-housing-starts-rise-less-than-expected-may-building-permits-fall-2021-06-16/
National Association of Realtors – https://www.nar.realtor/research-and-statistics/research-reports/realtors-confidence-index
Realtor magazine –
https://magazine.realtor/daily-news/2021/05/17/report-half-of-homes-sell-above-list-price
Urban Land Magazine – https://urbanland.uli.org/capital-markets/uli-forecast-sees-increased-improvement-in-outlook-for-u-s-economy-2/
National Association of Home Builders – https://eyeonhousing.org/2021/04/higher-lumber-costs-add-more-than-35k-to-new-home-prices-119-to-monthly-rent/
Reuters – https://www.reuters.com/world/us/us-housing-starts-rise-less-than-expected-may-building-permits-fall-2021-06-16/
NPR – https://www.npr.org/2021/06/21/1008843212/lumber-prices-are-finally-dropping-after-they-soared-during-the-pandemic

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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Why is Florida No longer #1 for Retirees?

by Elsa Soto | Nov 6, 2021 | Blog, Buyers, Real Estate News, Retirement / 55+

Why is Florida No longer #1 for Retirees?

ORLANDO, Fla. – For decades, Florida has been crowned the best place to retire.

The Sunshine State offers wonderful weather, theme parks, trails and beaches. Needless to say, one could live a leisurely life in Florida but according to a new survey, it’s no longer a top pick for retirees.

Florida didn’t slip too far down the rankings though. It was downgraded to the No. 2 spot because of the risk of hurricanes and tornados and parts of the state could be tough on your wallet. However, the Sunshine State scores well in the culture category as a fifth of the population is 65 and older, according to Census data.

If it brings any comfort, Bankrate says Florida ranked so close to Georgia it was nearly a draw. Tennessee, Missouri and Massachusetts round out the top five.

So who was # 1?

People looking for a slower-paced lifestyle have named Georgia the top state to retire.

The peachy lifestyle seems to appeal to people hoping to live out their golden years in peace.

Bankrate, a financial and investing website, said survey-takers picked the Peach State because of its warm but not-too-hot weather. Georgia’s annual average temperature is around 64 degrees, earthquakes are rare and the tornado risk is average.

Is Florida good for retirees?

Florida’s a Lot Less Taxing

Florida, one of our 10 most tax-friendly states for retirees, has no state income tax. That means no state taxes on Social Security benefits, pensions, IRAs, 401(k)s and other retirement income. It also has no inheritance tax or estate tax.

Buying in a 55 plus community

If you are considering buying in a 55 plus community in Orlando or Central Florida we can help. The team of Realtors at Bardell will guide you through the process of finding the right 55 plus community based on your specific requirements. Florida’s welcoming climate and pace of life provides an irresistible combination but to get enjoy retirement to the full start with choosing the right community.

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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Short Term VS Long Term Investment Property

by Elsa Soto | Nov 5, 2021 | Homeowners, Homes, Villas and Condos, Investment Property in Florida, Real Estate News, Sellers

Short Term VS Long Term Investment Property

home with for rent sign

Most investors associate the term “rental property” with long-term residential rental housing. However, there’s also money to be made by investing in short-term vacation rental properties. While both fall under the umbrella of rental property investments, these are two very different ways to put your money to work in real estate.

References:Mllion acres

Long Term

Consistent income
Easier to manage
Tenant-paid utilities
Fewer maintenance concerns
Cheaper property management

Short Term

Higher income potential
Better maintenance
Ability to adjust pricing
Personal use
Self-management is getting easier

Looking for a long term Property Manager?

Looking for rental services in Orlando – we can help. We work with our Owners and tenants as individuals and never under estimate what it takes to keep you happy with your choice of Management Company.

By doing our due diligence with our clients, tenants, and vendors we create a service that exceeds expectations and generates positive referrals. Click one of the buttons below and start your journey with a Residential Property Management company that really cares.

We are a full-service residential property management office licensed to conduct long-term rental activity and capable of meeting all your property management needs. Many of the vacation property management companies in the Disney Orlando area are not licensed to provide these services and put Owners and their properties at risk.

Contact a Property Manager!

The starting point for many owners is to understand the potential rental income available for their property. To request our “Free Rent Analysis” Please fill out our form below and one of our residential property managers specialists will be in contact shortly.

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