Angela Wingo's Blog

"By Owner" May Not Be The Best Sales Tactic

Debra Wingo — Mon, 27 Aug 2007 19:46:00 GMT

Orlando Sentinel wrote an article recently that advised home owners to hire a real estate agent instead of going it alone in today’s market. In today’s market, for sale by owner (FSBO) homes are having to compete with the large inventory and Buyers today are doing a lot less driving around with the high gas prices. They are starting their search on line and most times aligning themselves with a real estate agent. “Do-it-yourself doesn’t always pay….you could save thousands of dollars in sales commissions…But the disadvantages of for-sale-by-owner efforts are potentially just as large as the savings.” The article asks, “Will a successful FSBO save you enough in real estate commissions to make up for the market knowledge, potentially higher selling price, marketing efforts, negotiations and paperwork preparation that a real estate agent offers?” When it comes to the commission savings, FSBO sellers may think they will save the 6% commission when selling their home, but some may be missing out on the buyers that are aligned with an agent and/or still having to pay a 3% commission to get their home sold. FSBO sellers may have upfront advertising cost, lawyer fees to draw up the contract, and paying hundreds of dollars up front to have on the multiple listing service. When it comes to the selling price, the average home sold by an agent brings in a reported 16% higher price, according to the National Association of Realtors. The Sentinel later states that for a sale to be successful “FSBO sellers must be as objective about the house and its shortcomings as an agent would be.” A real estate agent is objective and uses reported data when setting a price. A price set too high in today’s market will sit and the home will become stagnant and potential buyers will wonder what is wrong with that home.

If you are deciding to sell your home in today’s market, sell your home with an agent who has a new approach, edgy advertising and excellent marketing results. The Selby Group has a FULL TIME Advertising Director to get your home exposed. That leaves me plenty of time to do what I do best….SELL!! In today’s market you need an agent that works hard to sell your property, not an agent that takes the listing, installs a sign in the yard, puts it on the multiple listing service and hopes it will sell. Schedule an appointment today and I will provide you a no obligation comparative market analysis. Not impressed after meeting me….then don’t hire me!

Expect the Best!..... and get it with Angela Wingo (321-277-2847 or email me at AngelaWingo@SelbyRealEstate.net

Brianto’s in Avalon Park

Debra Wingo — Mon, 30 Jul 2007 17:00:00 GMT

I now have a new addiction to the authentic Philly style Hoagies and Philly Cheese Steaks at Brianto’s. Darren DeGennaro is a one of the 3 owners of this NEW establishment and one of my real estate clients. Brianto’s opened it’s doors on July 2^nd and is open daily until 10:00 pm.

According to Darren and one of the other owners, Brian, I need to wipe the word “sub” out of my vocabulary…….and start using “Hoagies”. I placed a large order for everyone at The Selby Group, First Choice Title and Meridian Financial for Philly cheese steaks and we were all VERY impressed! Very pleased with this first order, I placed an order for 3 18” Hoagies and sides for a group of ladies I was having over the next day and it just gets better. The food was the hit of the party and all wanted to know where they could get more. Well, now it is becoming a weekly ritual and I just can’t get enough of Brianto’s! The food is AWSOME and the staff is great! I just can’t say enough about Brianto’s….you just need to check it out for yourselves! Located at the front of Avalon Park in the Town Center ~ 12001 Avalon Lake Drive Suite B, Orlando, FL 32828. Visit them on line at www.briantos.com or call them to place an order at 407-579-2571. And don’t forget to tell them that Angela Wingo, with The Selby Group, sent you!

For more neighborhood information visit us at http://www.NeighborhoodsOfEastOrlando.com

Property Tax Reform

Debra Wingo — Mon, 23 Jul 2007 17:34:00 GMT

Everywhere I go, whether it be driving with my clients, chatting with my friends over dinner or socializing with the parents of my daughter’s friends, the conversation seems to head in the direction of the property tax reform. Everyone wants to know what I have heard and what the general word is out there.

In our weekly sales meeting at The Selby Group a couple of weeks ago our Broker, Debra Wingo, took us through a little exercise to show us how one of our clients would be affected with their current home. The new exemption has two tiers; Tier 1 - the homestead property will receive an exemption of 75% of the first $200,000 in value of the home and Tier 2 - in addition to tier 1, homestead property will obtain another 15 % exemption of the next $300,000 in value. The home we used in our meeting had a current value of $209,628 and has a current taxable value of $92,518 under current Save Our Homes. Under the new exemption this owner would have $50,000 taxable value for the first Tier and $8,183 for the 2^nd Tier for a total Taxable Value of $58,183. That is $34,335 less than the current taxable value.

The Florida Association of Realtors (FAR) is the largest trade group in the state to support the passage of this amendment to reform Save Our Homes. The amendment goes before the voters January 29, 2008 and will allow property owners to continue the 3% tax cap they currently enjoy, under the 1992 Save Our Homes amendment, or to choose the new “super-homestead” exemption.

“Passage of this amendment is critical to the future of Florida,” says FAR President Nancy Riley. “It will provide first-time homebuyers a large tax exemption. It will begin to equalize property taxes among neighbors. And it will allow the people who are the foundation of our neighborhoods — teachers, nurses, police officers and emergency first responders — to afford to live in the communities they serve.

“It’s time to reform Save Our Homes,” Riley continues. “We invite other groups to make an investment in Florida’s future by supporting this amendment.”

For more information on Orlando Real Estate visit http://www.NeighborhoodsOfEastOrlando.com

Bee Wise Immunize Event Saturday July 14th

Debra Wingo — Thu, 12 Jul 2007 20:04:00 GMT

As a mother of a 7 year old I am always looking out for events that families can benefit from. I try to keep my clients and their families informed. That is why when I came across this event I thought it may be of some interest, especially being only a short drive for all of us in East Orlando.

The Amway Arena is the location for the Bee Wise Immunize event Saturday, July 14^th 9:00AM-2:00PM. This is the 3^rd Annual Bee Wise Immunize, Back-to-School event. Orange County Health Department and Amerigroup are the hosts of this year’s event in which FREE childhood immunizations are being provided. All children MUST be accompanied by a parent or legal guardian to receive their immunizations and MUST have a copy of their immunization record. Also available at this event FREE school supplies, educational information, and community resources on a first come first serve basis. Lucille O’Neal, the mother of, NBA basketball star Shaquille O’Neal is the official spokesperson for an audio Public Service Announcement. www.orchd.com Amway Arena – Parking is FREE. Location 600 West Amelia Street, Orlando, FL 32801. You can contact the Orange County Department at 407-836-2697.

Call Angela Wingo at The Selby Group 407-482-8225

Good News for Buyers -- Rates dropped a bit this week!

Debra Wingo — Fri, 29 Jun 2007 18:50:00 GMT

According to Freddie Mac's Primary Mortgage Market Survey for the previous week, the market has rolled back a small portion of the large increases in mortgage rates that were recorded over the prior five weeks.

The 30-year fixed-rate mortgage which had increased from 6.15 percent to 6.74 percent between May 10 and June 14 retreated to 6.69 percent in the most recent week. Fees and points increased from 0.4 to 0.5 for the week.

The 15-year FRM decreased six basis points from its 2007 high of 6.43 percent the previous week to 6.37 percent. Fees and points increased from 0.4 to 0.5 for this product as well.

We have many new wholesale loan programs that include loans for borrowers with credit scores down to 620, sub-prime programs for borrowers with credit scores down to 580 and hard money programs with credit scores below 580.

The outlook is good for Buyers right now!!

Info provided by Cindy Bedsole, Mortgage Broker.

Wedgefield Events and Happenings

Debra Wingo — Mon, 11 Jun 2007 17:59:00 GMT

- Wedgefield will be hosting the Central Florida Blood Bank for a Blood Drive Saturday, July 19^th from 10:00 AM – 2:00 PM at the Golf Club.

- WHOA (Wedgefield Homeowners Association) members will receive buy one get one free for lunch special the month of July. (limited to one per member for the month)

- The Wedgefield bowling league will be starting back up in September and held Monday nights at 7:00pm at Boardwalk Bowl.

- WHOA (Wedgefield Homeowners Association), Bay Pointe Homes, Legacy Homes, Maxim Homes, Rob Goderis & Sons, Scotty’s Oil, Myron Roseland and Woodside Builders recently made a financial donation and supported Wedgefield Firewise.

- The Wedgefield Garden Club will meet September 18^th @ 7:00pm

- Code & Covenants meetings were moved to 6:00pm on the second Wednesday of every month.

For more information on Wedgefield and East Orlando in general visit http://www.NeighborhoodsOfEastOrlando.com

Doom and Gloom Outlook On East Orlando Real Estate Is Completely Unfounded

Debra Wingo — Wed, 23 May 2007 17:14:00 GMT

An article in the Orlando Sentinel this week continues to add to the doom and gloom of today’s housing market stating that the 2007 median house price of $250,000 would require an income of $77,000. They further state that that exceeds the means of most in Orange County. Their stats list several professions and their average yearly incomes from the Bank Teller $21,600, nurse $35,000, Professor $59,100 and on the high end the electrical engineer with an average annual income of $71,000. Now this may look bad to the average reader without doing some research. Aren’t most homes a two income producing house hold? I have poked around at some reported stats and found that this false sense of gloom and doom is a little uncalled for. Our media is scaring the average population and causing insecurities. Although this is not the market of 2005….it is not all that bad.

What I found in my poking around is that according to a 2000 census the city of Orlando’s population was 185,951 and the U.S. census population count of 2005 made Orlando the sixth largest city in Florida with a population of 213,223. The Orlando-Kissimmee MSA is Florida’s third-largest metropolitan area, just behind Miami-Fort Lauderdale-West Palm Beach and Tampa-St. Petersburg-Clearwater, according this census. The “Greater Orlando” or “Metro Orlando” area encompasses the counties of Orange, Osceola, Seminole and Lake and is currently the 28^th largest metro area in the United States with a 2005 Census-estimated population of 1,933,255. In 2000, Combined Statistical Areas was instituted and Orlando was at that time joined together with The Villages and in 2006 Deltona (Volusia County) and Palm Coast (Flagler County) were added to create the Orlando-Deltona-Daytona Beach, Florida, Combined Statistical Area. The new CSA has a total population of 2,633,282 in 2006 and contains three of the 25 fastest growing counties in the nation. What this tells us is that “Greater Orlando” is a highly desired area with the influx of new jobs and a low reported unemployment rate in Greater Orlando of 2.8% in October 2006. According to an article on www.wikipedia.org, despite the housing slump the diversification of jobs in Orlando will produce 72,600 new jobs this year and next and although most hiring will come from the region’s tourism backbone, Orlando will also experience higher growth in professional services jobs. This site also states that the high-wage, white-collared category is projected to balloon by about 15 percent and the reason being is that Orlando’s population is expected to expand by 150,000 by decade’s end.

That is Greater Orlando as a whole, now what about East Orlando which reports a median household income of $70,632 which is 60% higher than the median of $44,236 for all of Orange County. Look at the retail in the Waterford Lakes area….businesses are leasing space faster than it can be built.

According to the East Orlando Chamber of Commerce’s Visioning Report, “Results from the study indicate that East Orlando’s over 164,000 residents live in one of the country’s fastest-growing and most dynamic suburban areas, with a steady supply of quality housing. Utilizing a key network of regional highways, East Orlando enjoys convenient access to Downtown Orlando, Orlando International Airport, Port Canaveral and the Space Coast, and the Walt Disney World attractions area. The area is home to the University of Central Florida, and outstanding network of public schools, and over 30,000 jobs, including over 9,000 jobs associated with the Central Florida Research Park. In addition, East Orlando offers a variety of recreational opportunities, including a significant amount of parks and public lands. Residents report felling a strong sense of community, and the area has emphasized the development of connections between the educational and business communities. Overall, the citizens of East Orlando enjoy an excellent quality of life.”

In conclusion, the Sentinel’s article may paint a grim picture, but Greater Orlando is doing better than the national average and particularly East Orlando. Yes, there is a surplus of homes and buyers have more choices, allowing for great negotiation opportunities. Sellers just need to team up with a real estate firm that is creative and has experience and resources to set their home apart from the competition. East Orlando is a GREAT place to be and I invite you to explore East Orlando communities and work with real estate agents that know East Orlando and all that it has to offer.

http://www.neighborhoodsofeastorlando.com

Wedgefield Golf Club

Debra Wingo — Wed, 09 May 2007 16:54:00 GMT

Wedgefield Golf Club is a classic Florida course Located in the heart of East Orlando and only a 20 minute commute to Orlando International Airport and offers Orlando’s best value for golfers. Convenient to 417 Greenway, 528 Beachline and 408 making this course an easy destination for travelers. The course was designed by Albert Anderson and established in 1966.

This course offers a relaxing atmosphere and a variety of holes. There are 67 bunkers, water on most of the holes and a variety of hole lengths. So bring your clubs and enjoy a peaceful yet challenging day of golf.

For more information on Wedgefield and East Orlando visit http://www.neighborhoodsofeastorlando.com

Florida’s Existing Home Sales Soft, Median Price Edges Down in March 2007

Debra Wingo — Tue, 01 May 2007 20:43:00 GMT

ORLANDO, Fla. – April 24, 2007 – Sales of existing homes in Florida remained at a sustainable pace in March, with buyers continuing to see favorable mortgage rates and a range of housing options available across the state, according to the Florida Association of Realtors® (FAR). Statewide, sales of single-family existing homes totaled 13,469 last month compared to 18,751 homes sold in March 2006 for a 28 percent decrease.

Florida’s median sales price for existing single-family homes in March was $236,000; a year ago, it was $244,600 for a 4 percent decrease. The median is the midpoint; half the homes sold for more, half for less. In March 2002, the statewide median sales price for single-family homes was $134,100, for an increase of 75.9 percent over the five-year-period, according to FAR records.

For more information on East Orlando Real Estate visit: http://angelawingo3.point2agent.com/