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        <title>Real Estate Blog</title>
        <link>http://www.leecameronrealtor.com/blog/author/lee-cameron/</link>
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            <guid>http://www.leecameronrealtor.com/blog/video-blog-orlando-home-prices-on-the-rise.html</guid>
            <link>http://www.leecameronrealtor.com/blog/video-blog-orlando-home-prices-on-the-rise.html</link>
            <author>lee@leecameronrealtor.com (Lee Cameron)</author>
            <title>Video Blog - Orlando Home Prices on the Rise</title>
            <description> <![CDATA[ 




 

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            <pubDate>Tue, 31 Jan 2012 14:54:49 -0600</pubDate>
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            <guid>http://www.leecameronrealtor.com/blog/before-you-look-for-an-apartment-read-this.html</guid>
            <link>http://www.leecameronrealtor.com/blog/before-you-look-for-an-apartment-read-this.html</link>
            <author>lee@leecameronrealtor.com (Lee Cameron)</author>
            <title>Before You Look For An Apartment, Read This</title>
            <description> <![CDATA[ 



With the economy down and so many people no longer able to afford their homes, the rental market has been booming. In many areas, vacancies in apartment complexes have been at record lows. Of course, when vacancies are low, rent goes up but that hasn't stopped many people from flocking to these communities.



But if you're looking to rent an apartment, there are a few things you should keep in mind before you choose a place. Of course, the normal factors like price and location are still hugely important, but apartment complexes come with their own unique set of challenges as well.


Find a Good Property Manager



When the manager of an apartment complex interviews you as a potential renter, make sure you interview them right back. Asking them about their policies and how they handle problems and repairs. Try to get to know them and see how professional they are. A bad manager means you'll likely be on your own when dealing with repairs and problems with neighbors.




Speaking of the neighbors, try to catch one or two in the hall or in the parking lot to discuss the building, the manager and how they like the community. Don't go knocking on anyone's door because that may make them defensive, but many people won't mind answering a couple questions in the parking lot.


Know What You're Getting Into



Before you sign anything, make sure you have a full understanding of the rent that you will be paying, as well all the fees and deposits that may be required from you. It's also good to check and see if the community has move-in requirements, such as not allowing movers at certain times of the day.


On-Site Amenities



Not only do you need to know exactly what you're paying, but you need to know exactly what you're going to get for your money. Community amenities are a big part of choosing which community you move to. Of course, there are the obvious things - check out the community's pool, if there is one, and make sure that it's well maintained. Go into the laundry and see if the machines look old and worn out. Find out if the community has a gym, a club house, and ample parking. Check and see what appliances are included in your apartment. And, one thing that many people neglect, check your cell phone reception. It would be a huge hassle to be living in a place where your phone doesn't work.


Local Area



After you've learned all you can about the community itself, spend some time driving around the nearby area. You don't want to be too far away from a grocery store or a bank or restaurants. Check out the places you'd find yourself frequenting if you lived there and see how they feel. Ask the locals what they think of the area.


Check Out the Building



Last but certainly not least, before you move into an apartment you want to take a look at the buildings in the community. Take into account their age. See if you notice any damage or disrepair. Question neighbors and ask the manager what the process is for getting repairs done when necessary. If the buildings on-site look poorly maintained or unsafe, you should probably think about trying a different community.




Like any big move in your life, you want to make sure you're well-prepared before you jump into renting an apartment. There are some great apartment communities out there, but it may take some research to find the right one for you. Good luck!
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            <pubDate>Fri, 27 Jan 2012 07:55:57 -0600</pubDate>
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            <guid>http://www.leecameronrealtor.com/blog/breaking-ground-on-the-sunrail.html</guid>
            <link>http://www.leecameronrealtor.com/blog/breaking-ground-on-the-sunrail.html</link>
            <author>lee@leecameronrealtor.com (Lee Cameron)</author>
            <title>Breaking Ground On the SunRail</title>
            <description> <![CDATA[ 



On January 27th, the Florida SunRail project will have its official groundbreaking ceremony. It's been a long road to get the project going and now, after many years of setbacks and controversy, the rail is finally being built.




Though the finished route will be 61 miles long, the project will start with Phase 1 - a 31-mile track that goes from Debary to Sand Lake Road in Orlando with 12 stops along the way. The groundbreaking ceremony will take place at one of the planned stops, in Altamonte Springs. 




Many large-scale construction projects are planned to provide convenient access and amenities to SunRail users. In downtown Orlando, right next to the city's Lynx hub, a 5.7-acre project is in the works that will include for-rent apartments, hotel rooms and 15,000 square feet of retail space for businesses that cater to commuters. Florida Hospital has a similar project planned on East Rollins Street. Aside from the retail space and eateries, the $29 million building will also become the Florida headquarters for Adventist Health System, Florida Hospital's parent company.




Overall, there are $1 billion worth of construction projects that will be built along the SunRail line. These projects will bring thousands of construction jobs and even more permanent jobs to the area and, hopefully, raise values in the surrounding neighborhoods. Assuming there aren't any more set-backs, you should be able to start riding the SunRail by 2014. It will be interesting to see how it all plays out. For more information about the project, and an interactive map of the planned route, visit www.sunrail.com.
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            <pubDate>Mon, 23 Jan 2012 07:51:51 -0600</pubDate>
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            <guid>http://www.leecameronrealtor.com/blog/a-handbook-for-first-time-buyers.html</guid>
            <link>http://www.leecameronrealtor.com/blog/a-handbook-for-first-time-buyers.html</link>
            <author>lee@leecameronrealtor.com (Lee Cameron)</author>
            <title>A Handbook For First-Time Buyers</title>
            <description> <![CDATA[ 



It's a daunting process to buy a home, especially when it's your first time. It's very difficult to foresee the process and the expenses that you will have. No matter how prepared you are, it seems like something unexpected will always come up and there will be things you didn't plan for. But it's still important to do your homework ahead of time and try to be ready for anything. I've done many articles and blogs on preparing buyers before they jump into the market, and I'm sure I've repeated myself on many of these points. Still, the information is important and if you're thinking about buying your first home, I hope you read through this blog (and others) for useful tips.




Checking Your Credit




The very first step you should take before you even start looking for a new home is to get your credit in order. In fact you should probably check your credit score MONTHS in advance. You can visit annualcreditreport.com once a year and request a free copy of your report from Experian, TransUnion or Equifax.




Remember, it's not just your final score that matters (though, for the record, 720 and above is what's considered good these days). When it's time to get a loan, lenders will look through the minutiae of your report and determine why your score is the way it is. Rather than simply looking at the number, read through the report and determine what it means and what you can fix. While you're there, you can also check for errors. A surprising number of credit reports contain errors that could hurt your score.




Know What You'll Be Paying




Before buying, it's important to understand how much money you'll need to bring to the table. Of course, the biggest chunk of change will be your down payment. In the past, buyers were expected to bring a hefty down payment - 20% on average. In our current housing market, that is no longer the case. Now, many buyers can get away with down payments that are far lower - just 5% in some cases (though these numbers are starting to go back up as the economy slowly begins to improve). 




Even if you can put down such a small down payment, you may find it more advantageous to pay a larger one, if you can afford it. Of course, the biggest reason is that a bigger down payment will mean smaller monthly payments. Additionally, a down payment of 20 percent or more means you will not have to pay for Private Mortgage Insurance, or PMI. This insurance can be quite pricey and is meant to protect the lender from the risk associated with a small down payment. PMI is not required with a down payment of 20% or more. Essentially, the higher your down payment is, the less expensive your home will be in the long run.




Figuring Out Your DTI




This is the painful part of the process, the part where you have to determine exactly how much house you can afford. The simplest way to do that is to figure out your DTI, your Debt-To-Income ratio. Essentially, you want your mortgage to be 30 percent of your monthly income, or less. Some lenders may offer loans with payments that are as much as 50% but this is definitely not recommended. You want to be able to comfortably afford your bills and your expenses and still have some left over "just in case". You never know what life might throw your way in any given month.




Figuring out your DTI is simple. Simply take your monthly income, subtract your taxes and divide by three. The number you get will be the maximum amount of money you'll want to spend on your mortgage every month. This will help keep you from getting in over your head.


Keep in mind that your lender will also be figuring out a DTI for you to determine the type of loan that you qualify for. This is a separate calculation that also takes into account other monthly bills like car payments. But whatever number your lender gives you, make sure that it doesn't exceed a third of your income or you may be in trouble down the road.



Venturing Into the Market




Going online is often the first step to house hunting. Through online research, you can determine the average size of a house in your price range in the area that you're looking for, and you'll likely find a few properties to check out first. Don't rely completely on online resources, though. Many sites are not regularly updated and can contain incorrect or outdated data. Eventually, you're going to want to go out and look at the homes personally. This is where an agent will be a big help. A Realtor will have accurate, updated information about the homes that are on the market and you'll benefit from having someone on your side with experience in the area. 




Keep in mind that there are some questions that your agent will not legally be able to provide an answer to (crime rates, what kind of churches are nearby, etc). For that sort of information, it's best that you drive around the area yourself, research information and even ask some of the local residents if you happen to see them around. Have lunch at a small, local restaurant and ask people what they think of the area. If you see a neighbor putting out their trash, introduce yourself and ask a couple questions. If no one will talk to you, you may have learned all you need to know!




Make Sure You Get the Most For Your Money




Just because a seller lists a home for a certain price, doesn't mean that's what you have to offer. With the help of your agent, take a look at what similar homes in the area have sold for before determining your offer price. If your seller is savvy and your agent is effective in his arguments, you can get the home for less.




Once an offer has been accepted, make sure that you research the property. Look into it to see if there are any liens against it. Have an objective appraiser look at the house and get it inspected by a qualified home inspector. If any problems are found, discuss your options with your agent and with the seller to determine whether repairs will be made or the price will be adjusted. 




Most Importantly: Don't Get Discouraged!




Buying a home is a long, involved and sometimes very frustrating process. Not all home purchases are a slog, but if you are determined to buy that dream home, you need to make sure that you are willing to be patient and fight for it. Again, this is where it helps to have an agent on your side. A qualified and experienced agent can help you weigh your options and weather the storm when things get bad. 




So if you're thinking of buying your first home, please keep these bits of advice in mind. It will make the process so much easier. Buying your home should be a wonderful thing, and with the right preparation and help, it will be. Good luck out there!
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            <pubDate>Wed, 11 Jan 2012 08:44:13 -0600</pubDate>
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            <guid>http://www.leecameronrealtor.com/blog/america-didnt-sell-as-many-homes-as-we-thought.html</guid>
            <link>http://www.leecameronrealtor.com/blog/america-didnt-sell-as-many-homes-as-we-thought.html</link>
            <author>lee@leecameronrealtor.com (Lee Cameron)</author>
            <title>America Didn't Sell As Many Homes As We Thought!</title>
            <description> <![CDATA[ 



The housing market has been bad for the last few years, right? Well, unfortunately, it looks like it could be worse than we thought. The National Association of Realtors discovered in December that their estimates of home sales may have been inflated. There may have been a lot fewer homes sold in America than we thought.




Here's what happened. Every month, the NAR releases a report on existing home sales. It is with these reports that experts determine the health of the real estate market. These reports are created from data taken from the Multiple Listing Service (MLS). The MLS only includes data on homes listed by Realtors. Unfortunately, this leaves out a large segment of homes that are sold by the owners. But don't worry, the NAR takes this into account when it makes its calculations and compensates for the For Sale By Owners. Here's the issue, though. Because the market is so tough right now, more sellers are choosing to use a Realtor to help sell their home. So, when the NAR saw that more homes were being sold by Realtors, their calculations assumed that more FSBOs were selling as well, artificially raising the numbers.




There were a couple other factors as well. The MLS has expanded its coverage, increasing home sales data simply because new areas are being counted. Additionally, many Realtors will list a home in more than one MLS database. For example, here in Central Florida, a Realtor listing a home in Daytona Beach may list it in both the Daytona MLS and the Central Florida MLS. That means that when that home sells, the NAR would count it twice! This has happened often enough that it has caused a significant impact on the numbers. 




Because of all of these factors, the NAR has decided to start revising their numbers and predict a sizable dip in the number of homes actually sold across the country.




It should be noted that, while this is a big deal for economists, it really doesn't have a big impact on the average consumer. It won't effect market prices and homes are still selling here in Central Florida. It just tells us that we're not out of the woods yet.
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            <pubDate>Wed, 04 Jan 2012 09:39:23 -0600</pubDate>
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            <guid>http://www.leecameronrealtor.com/blog/the-ups-and-downs-of-orlando-real-estate.html</guid>
            <link>http://www.leecameronrealtor.com/blog/the-ups-and-downs-of-orlando-real-estate.html</link>
            <author>lee@leecameronrealtor.com (Lee Cameron)</author>
            <title>The Ups and Downs of Orlando Real Estate</title>
            <description> <![CDATA[ 



This last month saw a few interesting, if not unexpected, fluctuations in the Orlando housing market. Some numbers are up and some numbers are down. What does it all mean?




First, the good news - single family home sales are up! Home sales saw a whopping 17% jump from this time last year and a small jump from where they were in September. And the reason for this bump? Prices are down. The median price for an Orlando home has dropped 2% from where it was last year. 




But for condos, the trend has gone in reverse. Condo prices in Orlando have risen 16%  from October of last year. And along with these higher prices come fewer sales, with condo sales dropping 23%.




Across the state, home sales rose 17% over last year, which is better than the national average of 13.5%. The Orlando market looks to be starting to recover and it's especially a good time to start buying a single family home. As sales continue to rise, the prices will stop falling and soon, like condos, they'll be on the rise as well. Don't miss your chance!
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            <pubDate>Tue, 29 Nov 2011 10:29:39 -0600</pubDate>
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            <guid>http://www.leecameronrealtor.com/blog/foreclosures-on-the-rise-again.html</guid>
            <link>http://www.leecameronrealtor.com/blog/foreclosures-on-the-rise-again.html</link>
            <author>lee@leecameronrealtor.com (Lee Cameron)</author>
            <title>Foreclosures On the Rise Again</title>
            <description> <![CDATA[ 

For a few months it seemed like the amount of foreclosure properties on the market was slowly decreasing. Unfortunately, it turns out that was a false sense of security. Last month, we saw that they are on the rise again. 




Around this time last year, many banks were hit by the "robo-signing" scandal when it was revealed that a great number of foreclosures were being processed without the proper procedures. Because of this, these banks called a moratorium on foreclosures until they could work out the issues. Now it seems they have, and the machine is in full swing again. 




October saw a 7% increase over September in foreclosures across the country. Florida currently has the third highest rate of foreclosures and, combined with Nevada, California, Arizona and Michigan, accounts for 53% of foreclosures in the nation.




The good news is that, even though foreclosures have gone up since September, they're still lower than they were a year ago. There has been a slight recovery but we won't see a full recovery until the economy improves. As long as unemployment is so high and consumer confidence is so low, we're going to be plagued by foreclosure for a while yet.
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            <pubDate>Tue, 15 Nov 2011 09:58:30 -0600</pubDate>
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            <guid>http://www.leecameronrealtor.com/blog/video-blog-market-snapshots.html</guid>
            <link>http://www.leecameronrealtor.com/blog/video-blog-market-snapshots.html</link>
            <author>lee@leecameronrealtor.com (Lee Cameron)</author>
            <title>Video Blog - Market Snapshots</title>
            <description> <![CDATA[ 




 

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            <pubDate>Thu, 10 Nov 2011 14:19:31 -0600</pubDate>
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            <guid>http://www.leecameronrealtor.com/blog/video-blog-zillow-and-zestimates.html</guid>
            <link>http://www.leecameronrealtor.com/blog/video-blog-zillow-and-zestimates.html</link>
            <author>lee@leecameronrealtor.com (Lee Cameron)</author>
            <title>Video Blog - Zillow and Zestimates</title>
            <description> <![CDATA[ 




 

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            <pubDate>Fri, 14 Oct 2011 13:40:22 -0500</pubDate>
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            <guid>http://www.leecameronrealtor.com/blog/home-improvements-that-will-help-you-sell.html</guid>
            <link>http://www.leecameronrealtor.com/blog/home-improvements-that-will-help-you-sell.html</link>
            <author>lee@leecameronrealtor.com (Lee Cameron)</author>
            <title>Home Improvements That Will Help You Sell</title>
            <description> <![CDATA[ 



Right now, buyers can afford to shop around until they've found their perfect home. Few buyers are willing to buy a home that they will have to immediately put money into to make it right for them. With that in mind, many sellers are adding improvements to their home before placing it on the market. Though you won't likely be making all of your money back in the final sale price, these improvements will help you stand out in the market and boost your chances of selling your home quickly and for a good price. 




Converting the Attic to a Bedroom




With kids moving back home and families taking in older family members, many buyers are trying to find homes that offer more bedrooms for less cost. If your house has an attic that can be converted into a living space, it might be worth the extra investment. Being able to list an extra bedroom when it's time to sell will add value and attract more buyers to your property.




You may also consider adding extra rooms to your existing floorplan, but that can be tricky. Not only is the cost for such an addition high, but you also run the risk of raising the value and price of your home too much in comparison to the local market. If you do decide to make major additions to your home, try to keep them limited like adding an extra bathroom or expanding a bedroom into a master suite.




Doors and Windows




What is the first thing that buyers see when they take a look at your home? It's not the newly painted interior or the remodeled kitchen. It isn't the hardwood floors or the pool in the back yard. It's the front door. Believe it or not, but the quality of your front door can make a huge difference when it comes to your curb appeal. If your front door is looking old and run-down, it might be a good idea to replace it with a new, sturdy, attractive door before putting your house on the market. You'll also get the benefit of lower energy bills (newer doors are designed to keep your cool air in and the summer heat out)!




On that same note, installing new windows will also increase the energy efficiency of your home - something buyers often appreciate more than ever. And best yet, you might qualify for valuable tax credits if you put in new energy-efficient windows.




Extra Power




In a hurricane-prone area such as ours, power outages are not uncommon during the stormy months. A home that comes with its own back-up generator will certainly generate some interest from buyers. And they're getting more and more affordable, as well.




Don't Neglect the Outside of Your Home




Improvements to the outside of your home will help boost both value and curb appeal.  You might want to consider replacing your old siding with shiny new siding that will add protection and aesthetic value to your home. In the back yard, think about adding a deck if there's room and you don't have one already. Many buyers see a deck as extra living space and it is relatively affordable and easy to add.




Kitchen and Bathrooms




If you want to remodel part of your home, the kitchen and the bathrooms should be your first goal. Both of these rooms tend to become out of date quickly and the look and feel of these rooms is enormously important to buyers. Updating the kitchen or bathroom can take an enormous remodeling effort, or it could simply be a matter of replacing fixtures, appliances, counters or cabinets. Even simply replacing the doors on your kitchen cabinets can make a big difference. 




Giving your home a fresh update before putting it on the market can be costly and time-consuming, but if you focus your money and effort on places that will have the most impact, you'll likely see better returns in the long run. That update may make the difference when it comes to standing out in the crowded market.
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            <pubDate>Fri, 07 Oct 2011 13:01:13 -0500</pubDate>
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