June 19, 2025 • 19 mins
The real estate landscape is constantly shifting, and nowhere is this more evident than in Central Florida. Alena Rivera, owner of Exit Realty Premier Legacy and a 15-year industry veteran, joins us to decode the current market dynamics and offer practical guidance for buyers and sellers alike.
Drawing from her extensive experience spanning from Minnesota to Orlando, Alena paints a clear picture of today's housing market: inventory levels have returned to pre-COVID norms, properties typically remain available for 45-90 days, and price corrections are becoming commonplace.
For those contemplating a purchase, Alena's message is refreshingly direct: now is the time to act. With sellers increasingly motivated and willing to offer concessions, buyers wield significant negotiating power. She emphasizes the critical importance of proper pre-approval (not just pre-qualification) and building the right support team. The most successful buyers understand not just what they qualify for, but what monthly payment makes sense when factoring in insurance, taxes, HOA fees, and maintenance reserves. Alena also spotlights emerging opportunities in areas like St. Cloud, Lake County, and Sanford, where new developments signal strong appreciation potential.
Sellers aren't left without guidance either. Alena advocates for decluttering, deep cleaning, and making strategic minor repairs rather than investing in major renovations. Her pricing philosophy centers on market realism – setting prices based on recent comparable sales rather than emotional attachments or unrealistic expectations.
As a certified military relocation specialist, Alena takes particular pride in helping service members navigate their unique challenges. She shares a powerful story of saving a military family $20,000 at closing through skillful negotiation – a testament to how the right representation can transform the real estate experience.
Ready to explore your options in today's market? Connect with Alena at Alena@exitpremierlegacy.com or 407-801-8219, or browse available properties at orlandolistingpros.com and discover how her expertise can guide your next real estate move.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome back everybody to Business Talk, the
show, where we dive deep intoindustries that keep our world
moving.
I'm your host, didier, and intoday's episode I have the
pleasure of speaking with ElenaRivera.
She's the owner of Exit RealtyPremier Legacy.
Good afternoon, elena.
How are you doing?
Speaker 2 (00:20):
Hello, good afternoon , didier, I'm doing great, thank
you.
Thank you for having me on yourshow.
Speaker 1 (00:25):
Again, again, love to be here.
Speaker 2 (00:28):
Love to talk real estate with you, my favorite
thing to do and love having youas well.
Thank you.
Speaker 1 (00:34):
So, listeners, in each episode, our guests share
practical tips and valuableadvice that can help you
navigate life and stay ahead inyour own journey.
If you're enjoying this content, make sure you to like this
video and subscribe to thechannel.
Stick around until the end,because Elena is going to share
a great, powerful story thatshe's had with the customer, and
(00:58):
it actually highlights theimpact of her services for you
guys that are listening.
So, with that being said, we'reactually going to talk a couple
different things.
We're going to go into a littlebit of background, but we're
going to move more forward indiscussing market trends and
insights as it affects realestate Advice for buyers, advice
for sellers.
(01:18):
You know you guys out theredefinitely want to know what's
going on, up to date with themarket, and we're probably going
to talk a little bit aboutlocal knowledge.
So, with that being said, elena, take it away.
Let's start off with maybe alittle background and then we
can go into market trends andI'll have a couple questions to
ask you.
Speaker 2 (01:37):
Awesome, okay, yeah, so yeah, I've been in the
industry, I would say, for about15 years now, with my
experience between starting inMinnesota with a top broker over
there to you know, moving downto the Orlando Central Florida
area and, you know, just goingthrough the whole process of
being a real estate agent tothen wanting to continuously
(01:58):
grow and set new goals andbecame an owner a few years ago
of an exit franchise in Maitlandand then I branched off and I
started another brokerage, exitrealty premier legacy, in
Orlando.
So for the last three yearsI've been an exit owner,
franchise owner, and I'm just, Ican't say enough about how, how
blessed and just what theexperience has been, how, how
(02:18):
much it's taught me.
It's not easy, but, you know,keep on going and growing.
Speaker 1 (02:24):
Yeah, congratulations .
And again, if it was easy,everybody would be doing it
correct.
That's right.
So let's get into some markettrends and insights.
You know, how would youdescribe the current real estate
market in the area?
Speaker 2 (02:36):
Yeah.
So I mean we're still movingright.
We still have sellers that needto sell, buyers that need to
buy.
I do love this industry becausethere's we're always, there's
always work for us or we'realways busy if we're, you know,
really working our business.
And yeah, we have more houses,more inventory right now in the
Central Florida area than we'veseen since, you know, pre-covid.
(02:59):
So more houses are sitting onthe market a little longer.
I would say average number ofdays that they're staying on the
market before they actually gounder contract would be anywhere
from like 45 to sometimes evenup to 90 days.
We're seeing in certain areasthat they're sitting until, you
know, the right buyer comesalong and we are seeing a lot of
(03:19):
price decreases or corrections,if you will.
We're seeing those prices kindof, you know, slowly level off,
right and correct to what themarket value was, again pre
COVID, because we went throughthat crazy competitive, you know
, over asking price and biddingand you know, although I still
do see some bidding wars incertain locations, it's all
(03:42):
about the location right, wherethey're purchasing, where
they're they're looking.
Recently I sold a home inLongwood, sweetwater area, and I
would say there are probably 10to 12 buyers for every home we
were looking at, because theydidn't stay on the market right
so as we were looking, they weregoing off the market.
It was like in the $600,000price range too, you know.
So we're talking over half amillion, and there's still
(04:05):
competitive offers happening incertain areas Desirable.
Speaker 1 (04:10):
You've kind of touched on this a little bit a
little bit, elena, when youtalked about buyer's market,
seller's market or something inbetween right now.
So that was interesting thatyou kind of mentioned that too.
But are there any trends thatyou're seeing right now in home
prices, inventory or interestrates?
Speaker 2 (04:29):
Trends, I mean.
So we've kind of been playedwith, I would say, for our
interest rates, right, where wewere expecting them to go drop
down to the low sixes, highfives, but they've remained
steady, I would say, above 6.5%for the you know average
conventional buyer right now.
um so, with interest rates, yeah, we're still in the you know
the high sixes, and with prices,you know, depending on the area
(04:54):
you know so it's reallyimportant that it's you know
that the agents are doing theirwork and their due diligence
with pricing fairly,competitively, not over pricing,
because that too, that's partof our problem is why these
houses are sitting for so longis, um, you know, they're not
priced fairly.
They're not priced based on theother houses, comparable homes
(05:15):
in their neighborhood, whatthose have recently sold for.
The data does not lie Right.
So as much as the seller thinksthat their house may be worth,
you know, 50,000 more than whatthe last home sold for.
You know, the data doesn't lie.
Speaker 1 (05:28):
So it's really important, right, and it's not
always the case as well.
You know there are listeners,or you know people who are
listening to the show as well.
That you know maybe are firsttime home buyers, right, we have
, we have those as well outthere, people looking to buy a
home for the first time.
What should they do, or whatshould they know?
Any kind of knowledge you wantto give them in terms of what
(05:51):
they in terms of jumping intotoday's market.
Speaker 2 (05:54):
Yeah, absolutely Would love to Thank you.
So, most importantly, right,like, look for the expert
guidance, look for the realtorsthat will help guide them
through.
If they don't have a realtor,they can always come to me, or
you know, our Orlando Re realtorassociation has a lot of them
as well.
But, um, my team here at exit,you know, we, we love to guide,
(06:15):
because it's not just theprocess of finding a realtor and
looking at houses, but it'sgetting connected with the right
team.
Right, you have your lenderinvolved, so that lender needs
to be fitting for your needs,you know, based on your schedule
, for the buyer's schedule, arethey available, are they
communicating promptly?
But also, with the lender sidetoo, it's important for them to
(06:36):
get pre-approved right.
They need that pre-approval orpre-qualification letter
Actually, no, let me take thatback Pre-approval letter, which
means they've gone through theprocess of verifying their
documents, their taxes, theiremployment, their debt to income
, all of that.
The lender will do that to thenaccurately or more accurately,
(06:56):
say look, based on what I'mseeing here, based on the
documents you've provided me,you are qualified for up to,
let's say, 400,000.
However, while they may qualifyfor 400,000, they mostly want
to know what their budget iswhat are they comfortable paying
per month?
Right, and affordability, howmuch do they want to keep their
(07:17):
budget at?
Because then that will, youknow, determine what price of
home they should be looking for.
Because there's also they gotto have to factor in.
I think a lot of people forgetthat there's also property
insurance, property taxes, hoa,you know, like all those things
add on to the mortgage as well.
So it's important to really dothe math, but again working with
(07:38):
the right team to be able toidentify what is the perfect
home, what is the perfect pricerange for that family.
Speaker 1 (07:45):
And also outside of the mortgage.
I mentioned electricity, water,sewage, like there's so many.
Speaker 2 (07:52):
I mean, you know, trash all these things um that
come into that play exactly,yeah, they say to have at least
six months in reserves, you know, for in case anything goes
wrong at the house.
Um, you know, plumbing issues,roof leak, yeah you never know.
Speaker 1 (08:08):
I think that's it.
You never know.
So that's very uh well, verywell stated.
Are there any common mistakesyou see buyers are making right
now?
Speaker 2 (08:17):
I think the biggest one is not really knowing what
they're qualified for, so notgoing through the process of
submitting their documents,right, they're just doing that
online application that says youknow, tell me how much you make
, tell me how much you owe, andthen boom, they're issued.
Issued this pre qualificationletter and then they're going
out shopping.
And I think that's anotherreason why we're seeing a lot of
houses pending offers fallthrough because that buyer
(08:40):
wasn't successfully pre approvedor accurately pre approved.
Right, they were just theysubmitted an application and the
lender just said here you go,go shopping for a house at this
rate without really knowing like, okay, what can you afford per
month based on, again, all thosefactors HOA, you know, taxes,
(09:00):
insurance.
Speaker 1 (09:01):
Yeah, because it all, it definitely all adds up.
So what's your take on for abuyer that's wanting to buy now
versus waiting for marketconditions to improve?
Speaker 2 (09:14):
oh.
I say go go buy now, right nowwe also have um.
So in addition to being abuyer's market right, um houses
are sitting longer on the market.
Sellers, you know they're.
They're selling for a reason.
You know whether they're severe.
You know highly motivated andneed to move tomorrow, or you
know they're they're justwilling.
They're more willing right nowto offer sellers concessions.
(09:36):
So I'm seeing a lot of sellers,you know, pay for closing costs
to help put down.
You know down payment money, begenerous when it comes to
fixing certain things, and youknow that come up in the
inspection, especially if it'srelated to the four points your
roof, your AC, your HVAC, yourplumbing and your electrical
work.
If there's anything wrong withyou know any issues or safety
(09:57):
hazards that come up.
With those, I always say go forit, negotiate, negotiate right,
because now is the time.
We're also seeing, you know,people not being able to afford
their mortgage payments, so theyneed to sell, so getting out of
that before they go intoforeclosure.
We're also seeing an increasein short sales happening right
now where they owe more on theirhouse their mortgage is more
(10:18):
than what their house is worth.
So there's a lot happeningwhich gives the advantage to the
buyer and additionally, we haveHometown Heroes, which is a
down payment assistance programwhere they're giving up to
$30,000 to qualified buyers tobe able to purchase that home.
So there's a lot of resourcesout there.
It's really just a matter ofagain working with the right
(10:39):
people that know about theresources and know how to
negotiate, that know how to lookfor the homes that have been
sitting on the market maybe 90days or a little more, motivated
at that point where it's easierto ask for that seller's credit
or ask for the sellers to buydown the rate to make the
monthly payment more affordable.
Speaker 1 (10:58):
Yeah, that's well stated, you know.
Let's talk about advice forsellers.
What's the best way for aseller to prepare their home for
a fast sale?
Speaker 2 (11:09):
So declutter, right, I would say declutter less is
more.
I don't want to go.
I don't.
Personally too, I'm verysimplistic, right, my eyes go
crazy when I go in and I seethings everywhere, um, so we
really want to.
You know, by getting it ready,you want to clean, deep clean,
declutter, um, I would even sayin certain areas, if you need a
(11:29):
fresh paint of coat.
Clutter, I would even say incertain areas if you need a
fresh paint of coat.
You know, fix little electricalthings If you can.
You know, go to Ikea and get anice cute little fixture to
replace this old fashioned onein the entranceway you know
because it's, it's all about.
You know that.
First appeal, you know that wowfactor.
Exactly Right so walking in likewhat does it smell like?
(11:50):
Is it clean?
What is it, you know, like?
Is it, you know, completelywelcoming and wide open, or are
there things everywhere thatit's like, oh my gosh, there's
too much you know?
So I would say, yeah, don't,don't invest in, you know,
unless it's necessary.
There's something with plumbingor some and something major.
But I would say, don't investin, you know, redoing your
kitchen and your flooring andall of that, because that's
(12:12):
always a way to negotiate too.
I like to price it accordingly,because I know when a buyer
walks in, they're going to say Ineed to replace this carpet, I
need to replace the bathroom.
So we already are discountingthat for the price and then, you
know, by looking at theanalysis they can see that it's
true.
So I think that's you know,important for you know sellers
(12:36):
to really know what's happeningin their area, to really know
what the homes are selling forin their particular neighborhood
and community.
Right, because every community,every subdivision is different.
It's different from one blockto another.
Speaker 1 (12:50):
I like how you said that is different from one block
to another.
I like how you said that I was.
My other question was howimportant is the pricing
strategy?
Um, right now and you kind ofmentioned on that too as well
yeah, I I would like to add um.
Speaker 2 (13:00):
So definitely, you know, like if it's overpriced,
you know, because I know someare like oh, no, I've seen it
happen where you know, they knowthat the ac might need some
work or um, you know they mightneed new carpet or something.
So they they in their mindsthey want to start higher
because they know that peopleare going to negotiate right,
but that's not always thesmartest thing to do.
Again, price it fairly with themarket, because then people see
(13:22):
like, oh, based on thecomparables in the area this
house is priced fairly and thenyou can go to negotiations from
there, right.
but also what I've seen work issome in some cases we've listed
it a little under market value,because then that draws in
attention and it brings thatmultiple offer situation where
(13:42):
then you're getting a littlemore than what you asked for
instead of having to lower theprice, because I've seen a lot
of price reductions happeningrecently too, yes, a lot.
Speaker 1 (13:54):
And that makes sense based on where we're at right
now.
Are there any hidden gems orunderrated areas buyers should
be looking at?
Speaker 2 (14:01):
Yeah, definitely, I mean so in the Orlando area.
Right, the closer you are toOrlando, the more expensive it's
going to be.
However, there are certainareas that are a little more
affordable.
But what I'm seeing is, youknow, anywhere near railways,
(14:28):
railroads, any new divisionscoming in, any new planning
developments happening, you know, I think it's smart to purchase
in that area because like beready, because they know like
that's going to be aneighborhood.
you know the the clientele theywant to attract right, because
they expect the houses toappreciate and go up in value
over time.
Speaker 1 (14:40):
That's interesting.
You say that.
What about hospitals?
Speaker 2 (14:43):
Hospitals as well, hospitals so, like St Cloud,
lake County, deltona, lakeCounty, deltona, deland, out
there, sanford, sanford, youknow, with the new, the railway
system there as well, lots ofnew developments coming, you
know.
Just think about, like, whereis their land on the outside of
what we already have?
(15:04):
Right, that's where it'sexpected to grow and appreciate.
But right now you can get itmore affordable.
You can even buy a new houseright now, new construction home
for in the low 300s so yeah,low 300s.
It's housing is definitely moreaffordable.
However, the interest ratemakes it a little more
challenging to get our buyersqualified, so we're seeing a lot
(15:26):
more co-signers happen.
You know are involved with thecontract.
Speaker 1 (15:31):
Oh, I understand that .
So, as we're kind of wrappingup here, you know I was kind of
mentioned about a story that I'dlike for you to share, that
kind of really.
You know you sat back and yousaid, wow, I really helped this
family, I helped this individualand it just it kind of really,
(15:52):
what's the word I'm trying to?
It really validates, right,that what I'm doing is making a
difference.
Anything that stands out.
Speaker 2 (16:00):
Yeah, so I mean lots of stories, right, I've helped
save people from losing theirhomes, you know, from
foreclosure and whatnot.
That was actually recently, too, that that happened, but one
that really stands out is I'mreally honored to serve our
military families.
I work a lot with militaryfamilies.
I am certified, for I'm acertified military relocation
(16:21):
specialist, and so I have hadthe privilege of, you know,
giving back in that sense.
Speaker 1 (16:26):
I've had this family.
I appreciate that as a veteranmyself.
Speaker 2 (16:29):
Yeah, I know and thank you for your service.
Yes, it is, it is a true honor.
And so you know I've hadfamilies that you know I've
helped years ago that keepcoming back to me because they
trust me.
And more recently, with thechanges that happened recently,
with the new law, or with thenew rule where sellers are not
required to pay the buyer'sagent compensation Remember that
(16:52):
came out august 17th of lastyear so sellers are not
obligated they never were, butit's just in how we present it.
Um.
So this kind of came up whenyou know this military family
wanted to sell and then purchase.
Um, needless to say, theyshould have owed money at the
end because of, you know, withtheir mortgage and all that.
(17:12):
But I was able to negotiate onthe purchase of their property
for the seller to pay both mycommission for the sale of their
home so the the property thatthey were purchasing.
I got him to pay for the sellsale of their home plus my
commission for the purchase oftheir purchase right, so with
that Right.
So with that you know tactfulnegotiation strategies.
(17:34):
But it was just a blessingbecause they were expecting to
pay about $20,000 out of pocket,Wow and I was able to negotiate
for them where they had nothing, nothing owed, and even got
some money back towards closingcosts, Because with VA loans
there's no down payment required, 100% financing, so just their
closing costs.
Speaker 1 (17:52):
so it's always a win when I get money for people at
clothing?
Yes, absolutely.
They can tell how passionateyou are about, about what you do
, which is is phenomenal initself.
So, as we wrap up, could youprovide our listeners a way to
get a hold of your phone numberas well as your website?
Speaker 2 (18:20):
Yes, yes, so we are.
You know, elena, atexitpremierlegacycom, our
website and our domain.
If anybody wants to look forhomes and see what's available
in our area, it'sorlandolistingproscom and
they'll be able to access all ofour properties for sale there
and in the area.
My phone number is 801-8219,text or a call, I'm fine with
(18:40):
either and, yeah, I'm all oversocial media with those.
Alena Rivera.
Speaker 1 (18:46):
Orlando broker.
Speaker 2 (18:47):
Orlando broker Alena.
Speaker 1 (18:49):
You got to love it.
Speaker 2 (18:50):
Yes, thank you, Alena .
Speaker 1 (18:51):
Thank you so much for taking time out of your busy
schedule to be part of this andhopefully we can have you back
again in the near future.
Speaker 2 (18:58):
Appreciate it.
Thank you, Didier.
Speaker 1 (19:00):
You're very welcome.
Thank you for tuning in toFirst Media Consulting Podcast.
If you enjoyed the podcast,subscribe today To nominate a
business you would like torecommend to be on our show.
Go to firstmediaconsulting.
Welcome back everybody to Business Talk, the
show, where we dive deep intoindustries that keep our world
moving.
I'm your host, didier, and intoday's episode I have the
pleasure of speaking with ElenaRivera.
She's the owner of Exit RealtyPremier Legacy.
Good afternoon, elena.
How are you doing?
Speaker 2 (00:20):
Hello, good afternoon , didier, I'm doing great, thank
you.
Thank you for having me on yourshow.
Speaker 1 (00:25):
Again, again, love to be here.
Speaker 2 (00:28):
Love to talk real estate with you, my favorite
thing to do and love having youas well.
Thank you.
Speaker 1 (00:34):
So, listeners, in each episode, our guests share
practical tips and valuableadvice that can help you
navigate life and stay ahead inyour own journey.
If you're enjoying this content, make sure you to like this
video and subscribe to thechannel.
Stick around until the end,because Elena is going to share
a great, powerful story thatshe's had with the customer, and
(00:58):
it actually highlights theimpact of her services for you
guys that are listening.
So, with that being said, we'reactually going to talk a couple
different things.
We're going to go into a littlebit of background, but we're
going to move more forward indiscussing market trends and
insights as it affects realestate Advice for buyers, advice
for sellers.
(01:18):
You know you guys out theredefinitely want to know what's
going on, up to date with themarket, and we're probably going
to talk a little bit aboutlocal knowledge.
So, with that being said, elena, take it away.
Let's start off with maybe alittle background and then we
can go into market trends andI'll have a couple questions to
ask you.
Speaker 2 (01:37):
Awesome, okay, yeah, so yeah, I've been in the
industry, I would say, for about15 years now, with my
experience between starting inMinnesota with a top broker over
there to you know, moving downto the Orlando Central Florida
area and, you know, just goingthrough the whole process of
being a real estate agent tothen wanting to continuously
(01:58):
grow and set new goals andbecame an owner a few years ago
of an exit franchise in Maitlandand then I branched off and I
started another brokerage, exitrealty premier legacy, in
Orlando.
So for the last three yearsI've been an exit owner,
franchise owner, and I'm just, Ican't say enough about how, how
blessed and just what theexperience has been, how, how
(02:18):
much it's taught me.
It's not easy, but, you know,keep on going and growing.
Speaker 1 (02:24):
Yeah, congratulations .
And again, if it was easy,everybody would be doing it
correct.
That's right.
So let's get into some markettrends and insights.
You know, how would youdescribe the current real estate
market in the area?
Speaker 2 (02:36):
Yeah.
So I mean we're still movingright.
We still have sellers that needto sell, buyers that need to
buy.
I do love this industry becausethere's we're always, there's
always work for us or we'realways busy if we're, you know,
really working our business.
And yeah, we have more houses,more inventory right now in the
Central Florida area than we'veseen since, you know, pre-covid.
(02:59):
So more houses are sitting onthe market a little longer.
I would say average number ofdays that they're staying on the
market before they actually gounder contract would be anywhere
from like 45 to sometimes evenup to 90 days.
We're seeing in certain areasthat they're sitting until, you
know, the right buyer comesalong and we are seeing a lot of
(03:19):
price decreases or corrections,if you will.
We're seeing those prices kindof, you know, slowly level off,
right and correct to what themarket value was, again pre
COVID, because we went throughthat crazy competitive, you know
, over asking price and biddingand you know, although I still
do see some bidding wars incertain locations, it's all
(03:42):
about the location right, wherethey're purchasing, where
they're they're looking.
Recently I sold a home inLongwood, sweetwater area, and I
would say there are probably 10to 12 buyers for every home we
were looking at, because theydidn't stay on the market right
so as we were looking, they weregoing off the market.
It was like in the $600,000price range too, you know.
So we're talking over half amillion, and there's still
(04:05):
competitive offers happening incertain areas Desirable.
Speaker 1 (04:10):
You've kind of touched on this a little bit a
little bit, elena, when youtalked about buyer's market,
seller's market or something inbetween right now.
So that was interesting thatyou kind of mentioned that too.
But are there any trends thatyou're seeing right now in home
prices, inventory or interestrates?
Speaker 2 (04:29):
Trends, I mean.
So we've kind of been playedwith, I would say, for our
interest rates, right, where wewere expecting them to go drop
down to the low sixes, highfives, but they've remained
steady, I would say, above 6.5%for the you know average
conventional buyer right now.
um so, with interest rates, yeah, we're still in the you know
the high sixes, and with prices,you know, depending on the area
(04:54):
you know so it's reallyimportant that it's you know
that the agents are doing theirwork and their due diligence
with pricing fairly,competitively, not over pricing,
because that too, that's partof our problem is why these
houses are sitting for so longis, um, you know, they're not
priced fairly.
They're not priced based on theother houses, comparable homes
(05:15):
in their neighborhood, whatthose have recently sold for.
The data does not lie Right.
So as much as the seller thinksthat their house may be worth,
you know, 50,000 more than whatthe last home sold for.
You know, the data doesn't lie.
Speaker 1 (05:28):
So it's really important, right, and it's not
always the case as well.
You know there are listeners,or you know people who are
listening to the show as well.
That you know maybe are firsttime home buyers, right, we have
, we have those as well outthere, people looking to buy a
home for the first time.
What should they do, or whatshould they know?
Any kind of knowledge you wantto give them in terms of what
(05:51):
they in terms of jumping intotoday's market.
Speaker 2 (05:54):
Yeah, absolutely Would love to Thank you.
So, most importantly, right,like, look for the expert
guidance, look for the realtorsthat will help guide them
through.
If they don't have a realtor,they can always come to me, or
you know, our Orlando Re realtorassociation has a lot of them
as well.
But, um, my team here at exit,you know, we, we love to guide,
(06:15):
because it's not just theprocess of finding a realtor and
looking at houses, but it'sgetting connected with the right
team.
Right, you have your lenderinvolved, so that lender needs
to be fitting for your needs,you know, based on your schedule
, for the buyer's schedule, arethey available, are they
communicating promptly?
But also, with the lender sidetoo, it's important for them to
(06:36):
get pre-approved right.
They need that pre-approval orpre-qualification letter
Actually, no, let me take thatback Pre-approval letter, which
means they've gone through theprocess of verifying their
documents, their taxes, theiremployment, their debt to income
, all of that.
The lender will do that to thenaccurately or more accurately,
(06:56):
say look, based on what I'mseeing here, based on the
documents you've provided me,you are qualified for up to,
let's say, 400,000.
However, while they may qualifyfor 400,000, they mostly want
to know what their budget iswhat are they comfortable paying
per month?
Right, and affordability, howmuch do they want to keep their
(07:17):
budget at?
Because then that will, youknow, determine what price of
home they should be looking for.
Because there's also they gotto have to factor in.
I think a lot of people forgetthat there's also property
insurance, property taxes, hoa,you know, like all those things
add on to the mortgage as well.
So it's important to really dothe math, but again working with
(07:38):
the right team to be able toidentify what is the perfect
home, what is the perfect pricerange for that family.
Speaker 1 (07:45):
And also outside of the mortgage.
I mentioned electricity, water,sewage, like there's so many.
Speaker 2 (07:52):
I mean, you know, trash all these things um that
come into that play exactly,yeah, they say to have at least
six months in reserves, you know, for in case anything goes
wrong at the house.
Um, you know, plumbing issues,roof leak, yeah you never know.
Speaker 1 (08:08):
I think that's it.
You never know.
So that's very uh well, verywell stated.
Are there any common mistakesyou see buyers are making right
now?
Speaker 2 (08:17):
I think the biggest one is not really knowing what
they're qualified for, so notgoing through the process of
submitting their documents,right, they're just doing that
online application that says youknow, tell me how much you make
, tell me how much you owe, andthen boom, they're issued.
Issued this pre qualificationletter and then they're going
out shopping.
And I think that's anotherreason why we're seeing a lot of
houses pending offers fallthrough because that buyer
(08:40):
wasn't successfully pre approvedor accurately pre approved.
Right, they were just theysubmitted an application and the
lender just said here you go,go shopping for a house at this
rate without really knowing like, okay, what can you afford per
month based on, again, all thosefactors HOA, you know, taxes,
(09:00):
insurance.
Speaker 1 (09:01):
Yeah, because it all, it definitely all adds up.
So what's your take on for abuyer that's wanting to buy now
versus waiting for marketconditions to improve?
Speaker 2 (09:14):
oh.
I say go go buy now, right nowwe also have um.
So in addition to being abuyer's market right, um houses
are sitting longer on the market.
Sellers, you know they're.
They're selling for a reason.
You know whether they're severe.
You know highly motivated andneed to move tomorrow, or you
know they're they're justwilling.
They're more willing right nowto offer sellers concessions.
(09:36):
So I'm seeing a lot of sellers,you know, pay for closing costs
to help put down.
You know down payment money, begenerous when it comes to
fixing certain things, and youknow that come up in the
inspection, especially if it'srelated to the four points your
roof, your AC, your HVAC, yourplumbing and your electrical
work.
If there's anything wrong withyou know any issues or safety
(09:57):
hazards that come up.
With those, I always say go forit, negotiate, negotiate right,
because now is the time.
We're also seeing, you know,people not being able to afford
their mortgage payments, so theyneed to sell, so getting out of
that before they go intoforeclosure.
We're also seeing an increasein short sales happening right
now where they owe more on theirhouse their mortgage is more
(10:18):
than what their house is worth.
So there's a lot happeningwhich gives the advantage to the
buyer and additionally, we haveHometown Heroes, which is a
down payment assistance programwhere they're giving up to
$30,000 to qualified buyers tobe able to purchase that home.
So there's a lot of resourcesout there.
It's really just a matter ofagain working with the right
(10:39):
people that know about theresources and know how to
negotiate, that know how to lookfor the homes that have been
sitting on the market maybe 90days or a little more, motivated
at that point where it's easierto ask for that seller's credit
or ask for the sellers to buydown the rate to make the
monthly payment more affordable.
Speaker 1 (10:58):
Yeah, that's well stated, you know.
Let's talk about advice forsellers.
What's the best way for aseller to prepare their home for
a fast sale?
Speaker 2 (11:09):
So declutter, right, I would say declutter less is
more.
I don't want to go.
I don't.
Personally too, I'm verysimplistic, right, my eyes go
crazy when I go in and I seethings everywhere, um, so we
really want to.
You know, by getting it ready,you want to clean, deep clean,
declutter, um, I would even sayin certain areas, if you need a
(11:29):
fresh paint of coat.
Clutter, I would even say incertain areas if you need a
fresh paint of coat.
You know, fix little electricalthings If you can.
You know, go to Ikea and get anice cute little fixture to
replace this old fashioned onein the entranceway you know
because it's, it's all about.
You know that.
First appeal, you know that wowfactor.
Exactly Right so walking in likewhat does it smell like?
(11:50):
Is it clean?
What is it, you know, like?
Is it, you know, completelywelcoming and wide open, or are
there things everywhere thatit's like, oh my gosh, there's
too much you know?
So I would say, yeah, don't,don't invest in, you know,
unless it's necessary.
There's something with plumbingor some and something major.
But I would say, don't investin, you know, redoing your
kitchen and your flooring andall of that, because that's
(12:12):
always a way to negotiate too.
I like to price it accordingly,because I know when a buyer
walks in, they're going to say Ineed to replace this carpet, I
need to replace the bathroom.
So we already are discountingthat for the price and then, you
know, by looking at theanalysis they can see that it's
true.
So I think that's you know,important for you know sellers
(12:36):
to really know what's happeningin their area, to really know
what the homes are selling forin their particular neighborhood
and community.
Right, because every community,every subdivision is different.
It's different from one blockto another.
Speaker 1 (12:50):
I like how you said that is different from one block
to another.
I like how you said that I was.
My other question was howimportant is the pricing
strategy?
Um, right now and you kind ofmentioned on that too as well
yeah, I I would like to add um.
Speaker 2 (13:00):
So definitely, you know, like if it's overpriced,
you know, because I know someare like oh, no, I've seen it
happen where you know, they knowthat the ac might need some
work or um, you know they mightneed new carpet or something.
So they they in their mindsthey want to start higher
because they know that peopleare going to negotiate right,
but that's not always thesmartest thing to do.
Again, price it fairly with themarket, because then people see
(13:22):
like, oh, based on thecomparables in the area this
house is priced fairly and thenyou can go to negotiations from
there, right.
but also what I've seen work issome in some cases we've listed
it a little under market value,because then that draws in
attention and it brings thatmultiple offer situation where
(13:42):
then you're getting a littlemore than what you asked for
instead of having to lower theprice, because I've seen a lot
of price reductions happeningrecently too, yes, a lot.
Speaker 1 (13:54):
And that makes sense based on where we're at right
now.
Are there any hidden gems orunderrated areas buyers should
be looking at?
Speaker 2 (14:01):
Yeah, definitely, I mean so in the Orlando area.
Right, the closer you are toOrlando, the more expensive it's
going to be.
However, there are certainareas that are a little more
affordable.
But what I'm seeing is, youknow, anywhere near railways,
(14:28):
railroads, any new divisionscoming in, any new planning
developments happening, you know, I think it's smart to purchase
in that area because like beready, because they know like
that's going to be aneighborhood.
you know the the clientele theywant to attract right, because
they expect the houses toappreciate and go up in value
over time.
Speaker 1 (14:40):
That's interesting.
You say that.
What about hospitals?
Speaker 2 (14:43):
Hospitals as well, hospitals so, like St Cloud,
lake County, deltona, lakeCounty, deltona, deland, out
there, sanford, sanford, youknow, with the new, the railway
system there as well, lots ofnew developments coming, you
know.
Just think about, like, whereis their land on the outside of
what we already have?
(15:04):
Right, that's where it'sexpected to grow and appreciate.
But right now you can get itmore affordable.
You can even buy a new houseright now, new construction home
for in the low 300s so yeah,low 300s.
It's housing is definitely moreaffordable.
However, the interest ratemakes it a little more
challenging to get our buyersqualified, so we're seeing a lot
(15:26):
more co-signers happen.
You know are involved with thecontract.
Speaker 1 (15:31):
Oh, I understand that .
So, as we're kind of wrappingup here, you know I was kind of
mentioned about a story that I'dlike for you to share, that
kind of really.
You know you sat back and yousaid, wow, I really helped this
family, I helped this individualand it just it kind of really,
(15:52):
what's the word I'm trying to?
It really validates, right,that what I'm doing is making a
difference.
Anything that stands out.
Speaker 2 (16:00):
Yeah, so I mean lots of stories, right, I've helped
save people from losing theirhomes, you know, from
foreclosure and whatnot.
That was actually recently, too, that that happened, but one
that really stands out is I'mreally honored to serve our
military families.
I work a lot with militaryfamilies.
I am certified, for I'm acertified military relocation
(16:21):
specialist, and so I have hadthe privilege of, you know,
giving back in that sense.
Speaker 1 (16:26):
I've had this family.
I appreciate that as a veteranmyself.
Speaker 2 (16:29):
Yeah, I know and thank you for your service.
Yes, it is, it is a true honor.
And so you know I've hadfamilies that you know I've
helped years ago that keepcoming back to me because they
trust me.
And more recently, with thechanges that happened recently,
with the new law, or with thenew rule where sellers are not
required to pay the buyer'sagent compensation Remember that
(16:52):
came out august 17th of lastyear so sellers are not
obligated they never were, butit's just in how we present it.
Um.
So this kind of came up whenyou know this military family
wanted to sell and then purchase.
Um, needless to say, theyshould have owed money at the
end because of, you know, withtheir mortgage and all that.
(17:12):
But I was able to negotiate onthe purchase of their property
for the seller to pay both mycommission for the sale of their
home so the the property thatthey were purchasing.
I got him to pay for the sellsale of their home plus my
commission for the purchase oftheir purchase right, so with
that Right.
So with that you know tactfulnegotiation strategies.
(17:34):
But it was just a blessingbecause they were expecting to
pay about $20,000 out of pocket,Wow and I was able to negotiate
for them where they had nothing, nothing owed, and even got
some money back towards closingcosts, Because with VA loans
there's no down payment required, 100% financing, so just their
closing costs.
Speaker 1 (17:52):
so it's always a win when I get money for people at
clothing?
Yes, absolutely.
They can tell how passionateyou are about, about what you do
, which is is phenomenal initself.
So, as we wrap up, could youprovide our listeners a way to
get a hold of your phone numberas well as your website?
Speaker 2 (18:20):
Yes, yes, so we are.
You know, elena, atexitpremierlegacycom, our
website and our domain.
If anybody wants to look forhomes and see what's available
in our area, it'sorlandolistingproscom and
they'll be able to access all ofour properties for sale there
and in the area.
My phone number is 801-8219,text or a call, I'm fine with
(18:40):
either and, yeah, I'm all oversocial media with those.
Alena Rivera.
Speaker 1 (18:46):
Orlando broker.
Speaker 2 (18:47):
Orlando broker Alena.
Speaker 1 (18:49):
You got to love it.
Speaker 2 (18:50):
Yes, thank you, Alena .
Speaker 1 (18:51):
Thank you so much for taking time out of your busy
schedule to be part of this andhopefully we can have you back
again in the near future.
Speaker 2 (18:58):
Appreciate it.
Thank you, Didier.
Speaker 1 (19:00):
You're very welcome.
Thank you for tuning in toFirst Media Consulting Podcast.
If you enjoyed the podcast,subscribe today To nominate a
business you would like torecommend to be on our show.
Go to firstmediaconsulting.
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