Lee's Blog: All Categories

Believe it or not, it's a great time to buy real estate in Orlando. Prices are down, inventory is up, and we're on the cusp of one of the greatest real estate buying opportunities in recent history.

When the real estate bubble burst, Florida was one of the hardest hit states in the country. Because of this, there are many home sellers - I'd say about 1 in 10 - who are still clinging to the home prices of a few years ago and refuse to compete with the market. That's why you see many homes on the market  for a year or longer. But every day, more and more sellers are realizing that in order to get their house sold, they need to drastically reduce prices. Roughly half of the listings in Orlando have been on the market for four months or less, and these are…

According to Zillow.com's recent Real Estate Market report, more than a third of homeowners in Orange, Seminole, Osceola and Lake counties who bought homes in the last five years are now owing more than their homes are worth. For those who bought homes at the peak of the market in 2006, that number jumps up to a whopping 72%, and 66% for those who bought last year. So far in 2008, nearly a third of buyers who bought homes during the first half of the year are also facing negative equity. What this means is that the prices of the market are currently back down to the 2004 level.

At this point, I probably don't have to tell anybody that falling home values are at the very center of our tumbling economy. Without equity, homeowners are having trouble…

You don't normally see this side of me on my blog, but I'm going to get it out of my system and get on with selling real estate.

Sometimes the actions of some other agents in this market baffle me.

Recently I've been working with a great out-of-town buyer looking for a home with a starting price of $1,000,000. Every time I browse the MLS for this price bracket, I'm floored by the lack of professionalism that many agents are showing when they try to sell these beautiful houses. I can't believe how many listings I've gone through that don't have any pictures! Or how many don't bother to spend money on a virtual tour! A multi-million dollar home and you can't put together a virtual tour? Even worse are agents who don't even put any remarks, or if they do…

The Timacuan community in Lake Mary is a beautiful golf community. I've always known that it was a great place for people who aspired to be homeowners, but I never realized it was such a great place for people who aspired to be golf champions!

The Mike Bender Golf Academy at Timacuan Golf Club was named one of the Top 25 Golf Schools in America by GOLF Magazine! This is the only official ranking of golf schools in existence and it's exciting to have one of the best right in our backyard! The magazine states that the academy's "highly trained staff provides off-the-charts attention to small groups." In fact, one of the instructors is Mike Bender himself, ranked as one of the Top 10 Greatest Instructors in America by Golf Digest magazine.

The average price…

If you see an offer for a rental property at a very low rate, think twice!  

In our office just last week, we found an ad on the internet for a rental at a very low rate. The advertisement asked prospective tenants to drive by and take a look inside the vacant property. If they liked what they saw, they were to send an $800 deposit and another $800 for the first month's rent and then they would receive the keys in the mail. Funny thing was, this "rental" property was one that we had listed for sale! This guy had no intention of renting his home out to anybody. He wanted to get some quick cash, sell his home, keep all the money for himself and run off somewhere. We reported him to the FBI but who knows how many renters got suckered in by his scam before…

Looking for a wonderful townhome that has access to a semi-private ski/fishing lake for under $200,000? It's a hard commodity to get these days for an affordable price, but that's just what you'll find at Lago Vista in Casselberry. 

This great community offers two and three bedroom townhomes up to 2,000 square feet, some with complete garage and others with a carport. The community features a pool, tennis courts, a dock and lake access to beautiful Lake Howell.

Plus, the HOA fee is nice and low, currently at $165 per month. When it comes to great places to live, it's another of Casselberry's overlooked gems.

An agent friend of mine told me this scary story.

She recently had a buyer who found a home that she wanted to purchase. In order to save money - and against my friend's objections - the buyer decided not to get a home inspection. My friend tried again and again to change her buyer's mind but they wouldn't budge. Finally, she had them sign a note that would keep her harmless should the worst happen.

Good thing too because, of course, the worst happened. The woman bought and moved into the house and turned on the AC. It ran, it blew out air, but it didn't cool the house. She had an AC guy out to the house to take a look and he came back to her with an interesting report. The AC worked but the house didn't have any ductwork! She was so concerned about…

 Looking for one of the most unique places to live in all of Orlando? The penthouse condominium of one of Orlando's most luxurious high-rise condos - The Waverly - is up for sale again. This is an amazing place.

The unit takes up the entire top floor of The Waverly's 22 story building. Access is limited by a security code that you enter in the elevator. Once you enter the condo's beautiful entranceway, you immediately notice the floor-to-ceiling windows that offer the most spectacular view of downtown Orlando available anywhere. I can't imagine what it would be like to get a midnight snack in the kitchen and look out at all the lights of the city, or to have breakfast and watch the sun rise over Lake Eola. And those famous Fourth of July fireworks? You…