Due to the turbulence in the recent economy, there are a few different types of real estate sales that one hears about frequently. When preparing to enter the real estate market, whether as a seller or a buyer, it is important to know the terms used, and the implications of each type of sale.

Short Sale Property

You often will hear the term “short sale”. A short sale is when the homeowner owes more on their mortgage than the home can sell for in today’s real estate market. There are a few ways this can happen. One way is when a homeowner takes out an equity loan (to pay off other bills) that amounts to greater than the home can sell for including closing costs.

Another way this could happen would be if the homeowner originally bought the home with what…

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Votes are tallied!

More than 150,000 votes were collected in this year’s REALTOR® Magazine “30 Under 30” Web Choice online poll to select the "30 Under 30" Web Choice Award winner. Voting closed at midnight on March 28. The highest vote-getter from the 50 finalists was Juan Carlos German, ABR®, e-PRO®, of Orlando, Fla. German, who’s with Orlando Classic Homes, says friends and family helped him garner his 35,997 votes!

This is an outstanding honor for me because real estate is a people’s business, and having my peers, friends and family vote for me and select me as the Web Choice Award winner is unbelievable. I couldn’t have done it without everyone who voted and every past client who’s believed in me and my services and supported Carlos German &…

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Increases in the median sales price of both bank-owned homes and short-sale homes have helped Orlando’s overall median home price increase for the third consecutive month, to $115,000!

Members of the Orlando Regional REALTOR® Association reported an increase of 32.74 percent on completed home sales from April 2009 to April 2010. In addition to this great news is the fact that the number of new contracts filed in April 2010, is an increase of 53.02 percent over April of last year!

Another indicator that the real estate market in Florida is improving is that there are 86.18 percent more homes (10,832) under contract and awaiting closing in April of this year than in April of last year (5,818).

Orlando Regional REALTOR® Association Chairman of the…

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