Grand Luxe Realty & Property Management LLC

Gina Manzo Broker/Realtor

452 Osceola Street

Suite #215

Altamonte Springs FL 32701

704-235-7126

ginasellsfl@gmail.com

Annual, Long Term, Seasonal and Short Term leases available.

See our rental page for our showcase available rentals.

Please contact us for other rentals not listed in our showcase.

Need Help Renting Your Unit? We offer:

$0 Listing Start Up Fee,
Free Tenant soft credit check,
Owner payment within 3 days of receipt and
$0 monthly payment for vacant units.

Call us 704-235-7126

SUMMER NEW OWNER SIGN UP SPECIAL

(Sign 2 year agreement before July 30, 2024)

First 6 Months Only 6% Commission and Free Homewatch

Week Ending July 19, 2024

In Fannie Mae's May survey, 86% of consumers believed now is a bad time to buy a home, while 64% said now is a good time to sell.
Consumer inflation data in June saw core prices rise 0.1%, the smallest gain since August 2021, supporting Fed policy rate cuts later this year.
The Fed left its policy rate unchanged at this month's Fed meeting and signaled it may cut rates 1 or 2 times by the end of the year.
Home selling tips:

Working with a skilled real estate agent who knows your area inside and out can help you sell your home more quickly, and often, for more money. In fact, data from the National Association of Realtors shows that between July 2022 and June 2023, homes listed without the assistance of a Realtor sold for a median price of $310,000, while those sold with one fetched a median of $405,000.

Use your head, not your heart

Try to remove emotion from the equation and see the process as a simple transaction — your home is no longer “home” but a product for sale. It’s not unusual for prospective buyers to request credits or repairs, and it’s easy as a seller to take offense, so try to have a clear understanding of what issues and items you may be willing to make concessions on.
It’s important to take emotion out of it and remember that the buyer usually doesn’t expect to get everything they ask for. Take a closer look at which requests are valid and fair, and offer something. The cost to you is not in giving the concession — it’s the expense of losing the buyer, putting the property back on the market, starting all over again and getting a potentially lower offer.
Renovated kitchens and baths are the ‘money rooms’ — those that add the most value to a home. Minor kitchen or bathroom upgrades are typically a wise choice. The heart of the home is the kitchen, and many buyers will judge a property by its kitchen. While a complete overhaul of this space can run into the tens of thousands, a minor update is where you can gain the greatest return. Think about resurfacing cabinets, replacing countertops, a fresh coat of paint or updating the fixtures and hardware.

REAL ESTATE NEWS:

The NAR Settlement will bring about some significant changes to buyer representation come August 17th. Namely:

The MLS’s must remove any mention of compensation offers.
MLS participants acting for buyers must have a buyer’s representation agreement before a property can be shown to a buyer.

What this means to you? If you are interested in buying, selling or have any questions. These upcoming changes will have an impact on both buyers and sellers. Grand Luxe Realty & Property Management LLC. will be happy to sit and discuss with you the latest NAR settlement updates and clarifications, how they effect you as the buyers and sellers, and to answer all your questions so you have a better understanding how these changes will effect your home purchase, or the sale of your home. We will walk you through each step of your transaction for a successful and comfortable outcome.

NEW RULE ABOUT OFFERS OF COMPENSATION ON MLS

NAR were able to retain the right of consumers to continue to have cooperative compensation as an option so long as they pursue it off-MLS through negotiation and consultation with real estate professionals. • NAR has agreed to put in place a new rule prohibiting offers of compensation on the MLS . The change will go into effect in mid-July 2024.

Implications for home buyers and sellers • This settlement would preserve the choices consumers have regarding real estate services and compensation. • After the new rule goes into effect, listing brokers and sellers could continue to offer compensation for buyer broker services, but such offers could not be communicated via the MLS. • The settlement expressly provides that sellers may communicate seller concessions — such as buyer closing costs — via the MLS provided that such concessions are not conditioned on the use of or payment to a buyer broker.

NEW RULE ABOUT WRITTEN AGREEMENTS • NAR has long encouraged its members to use written agreements because they help consumers understand exactly what services and value will be provided, and for how much. • The settlement provides that MLS participants working with buyers must enter into written agreements with those buyers. • This change will go into effect August 17, 2024. Implications for members and home buyers and sellers • After the new rule goes into effect:- MLS participants acting for buyers would be required to enter into written agreements with their buyers before touring a home. - These agreements can help consumers understand exactly what services and value will be provided, and for how much.

Mortgage Rates Pull Back Slightly

The 30-year mortgage rate averaged 6.99% this week, down from 7.03%. Cost on 15-year fixed-rate mortgages also eased to 6.29% from 6.36% last week.

The average rate on a 30-year mortgage dipped to just below 7% this week, little relief for prospective homebuyers already facing the challenges of rising housing prices and a relatively limited inventory of homes on the market.

The rate fell to 6.99% from 7.03% last week, A year ago, the rate averaged 6.71%.

Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also eased this week, lowering the average rate to 6.29% from 6.36% last week. A year ago, it averaged 6.07%, Freddie Mac said.

Mortgage rates are influenced by several factors, including how the bond market reacts to the Federal Reserve’s interest rate policy and the moves in the 10-year Treasury yield, which lenders use as a guide to pricing home loans.

Yields eased this week following economic data showing slower growth. Signs that the economy is cooling can drive inflation lower, which could persuade the Federal Reserve to lower its short-term interest rate from its highest level in more than two decades.

The Fed, doesn’t plan to cut interest rates until it has greater confidence that price increases are slowing sustainably to its 2% target. Until then, mortgage rates are unlikely to ease significantly, economists say.