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Expert Real Estate Tips for Orlando Home Buyers and Sellers with Jessica Estrada

Real Estate Kyle Madorin June 27, 2024

Don't underestimate the value of your past experiences. They shape who you are and can give you a unique edge.

I’m Kyle Madorin and in our latest The Real Estate on the Up podcast episode, “Unlocking the Secrets to Wealth: A Guide to Financial Freedom”, I had the pleasure of sitting down with Jessica Estrada, a real estate expert with a fascinating background in hospitality.

Our conversation was a deep dive into her unique journey, insights into the luxury property market, and her expertise in international real estate.

Here’s a recap of our enlightening discussion.

Jessica's Journey from Hospitality to Real Estate

Jessica's real estate career is deeply impacted by her background in hospitality. She excels in customer service, communication, and problem-solving.

She prioritizes understanding each client's unique desires and requirements. She goes above and beyond to create personalized experiences, setting herself apart in the competitive market.

Effective communication is a key skill she brought from her hospitality days. These abilities help her negotiate successfully, which is crucial in real estate transactions.

The Unique Real Estate Market in Orlando

Orlando's real estate market is expected to see a rise in 2024 according to experts, following a decline in home sales in 2023. This is likely due to the increase in inventory and decrease in mortgage rates. Jessica provided some key insights into this vibrant market.

Tourism Impact

The presence of major attractions creates a constant demand for short-term rentals and vacation homes. Jessica explained that Orlando’s tourism industry drives a significant portion of the real estate market, making it an attractive location for investors looking for rental properties.

Diverse Population

Orlando’s diverse population contributes to a dynamic real estate market. The city’s cultural diversity means there’s a wide range of property types and styles to cater to different preferences and needs.

Economic Growth

The growing tech and healthcare sectors attract professionals, boosting demand for residential properties. Jessica highlighted that as these industries continue to expand, they create more job opportunities, driving up demand for housing.

Vacation Home Market

There’s a strong demand for vacation homes, offering opportunities for investors. Orlando’s popularity as a vacation destination means there’s a robust market for short-term rental properties.

Local Market Conditions

Staying informed about local market trends is crucial for making informed buying and selling decisions. Jessica advised that understanding the current market conditions can help buyers and sellers make strategic decisions.

Jessica’s Advice for Home Buyers and Home Sellers in Orlando

The Orlando market is constantly evolving, and both buyers and sellers need to stay ahead of the curve. Jessica offered some practical advice for home buyers and sellers in Orlando.

Here are her key points:

For Home Buyers:

  1. Focus on Location: Choose neighborhoods with strong growth potential and good amenities. Areas with good schools, public transport access, and nearby amenities tend to maintain property value well.
  2. Consider Future Development: Research planned developments that could impact property values. Look into any future infrastructure projects or developments in the area, as these can significantly influence property values.
  3. Evaluate Investment Potential: Look for properties with the potential for appreciation and rental income. Properties in desirable areas or those that can be easily rented out can be excellent long-term investments.
  4. Inspection and Due Diligence: Ensure thorough inspections to identify any potential issues. Jessica stressed the importance of not skipping the inspection process, as it can uncover hidden problems that could be costly to fix later.
  5. Financing Options: Investigate financing choices and secure mortgage pre-approval. Jessica recommended getting pre-approved for a mortgage before starting the home search to have a clear understanding of the budget and to make the buying process smoother.

Having a mortgage broker can also play a significant role in this market. They can help clients navigate the complex financial landscape, ensuring they secure the best possible financing for their luxury home purchases.

For Home Sellers:

  • Presentation is Key: Invest in professional staging, photography, and minor repairs. First impressions matter, and a well-presented home can attract more buyers and potentially sell for a higher price.
  • Competitive Pricing: Set a competitive price based on current market trends. Work with your real estate agent to set a competitive price that attracts serious buyers.
  • Effective Marketing: Utilize different marketing channels to reach a wide audience. Jessica discussed the importance of using a mix of online and offline marketing strategies to ensure the property gets maximum exposure.
  • Flexibility and Availability: Be flexible with showing times and ensure the property is always ready for viewing. Being accommodating to potential buyers’ schedules can increase the chances of a quick sale.
  • Working with a Realtor: Collaborate with an experienced realtor who understands the local market. Work with a knowledgeable realtor who can provide expert guidance throughout the selling process.

Jessica also highlighted the importance of having a real estate mentor or coach. Seeking guidance from a mentor in real estate can offer valuable insights, share experiences, and provide support for navigating transactions, especially beneficial for newcomers to the industry.

Building Wealth Through Home Ownership

Jessica also touched on the topic of building wealth through home ownership. Here’s what she had to say:

  • Property Appreciation: Over time, property values tend to increase, providing homeowners with significant returns on their investment. Real estate has historically been a reliable investment that can offer substantial long-term gains.
  • Tax Advantages: Homeowners can benefit from various tax deductions, including mortgage interest and property taxes. These tax benefits can make home ownership more affordable and financially advantageous.
  • Leverage Equity: Homeowners can leverage the equity in their property to finance other investments or improvements. Tapping into home equity can provide funds for renovations, education, or other investments.
  • Stable Investment: Real estate is generally considered a stable and less volatile investment compared to other assets. Jessica highlighted that unlike stocks or other volatile investments, real estate tends to offer more stability and predictability.
  • Rent Savings: Owning a home eliminates the need to pay rent, allowing homeowners to build equity. Jessica pointed out that instead of paying rent, homeowners can put that money towards their mortgage, building their equity over time.

Stay Updated with Real Estate on the Up for Engaging Insights on Florida Real Estate!

My conversation with Jessica was truly insightful. Her transition from hospitality to real estate offers valuable international market insights for real estate enthusiasts.

For more captivating discussions and valuable information on the dynamic Florida real estate market, be sure to follow Real Estate on the Up

Join our community and stay ahead in the ever-evolving world of Florida real estate! Stay tuned for more episodes where we bring you expert insights and practical advice from the world of real estate.

 


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