Richard Sapp Real Estate

Do you live in an HOA? I believe in the overall purpose of them, but too many are absolutely nuts. Here some of the (long overdue) changes that took effect on July 1st:

HOAs may no longer:

-Enforce rules on some residents but not others

-Ban homeowners or their invited guests from parking personal, business or first responder vehicles (including pickup trucks) that are not commercial vehicles in their driveways or any other area where they have a right to park per state, county and municipal regulations

-Ban contractors or workers from the homeowner's property

-Fine residents for leaving garbage cans at the curb or the end of their driveway within 24 hours of a scheduled trash collection

-Fine residents for leaving up holiday lights or decorations past the HOA's rules without prior notice, after which the homeowner will have one week to take them down

-Limit or create rules for the inside of a structure that isn't visible from the street, a neighbor's property, an adjacent common area or a community golf course

-Ban vegetable gardens or clotheslines, if they can't be seen from the street, a neighbor's property, an adjacent common area or a community golf course

-Require review and approval of plans for central air conditioning, refrigeration, heating or ventilation system that isn't visible from the street, a neighbor's property, an adjacent common area or a community golf course and is similar to previously approved systems

👏🏻👏🏻👏🏻

"After years of wanting larger homes, buyers are now opting for smaller homes"

I'm sorry. That's just a lie. Change "opting" for "settling". Smaller homes are only in demand because of soaring inflation and costs since COVID. Not because the average person WANTS them.

Maybe I'm wrong. But if you could get a larger home for the same price, all things considered equal, would you not?

https://www.fox35orlando.com/news/new-500m-downtown-orlando-sports-entertainment-district-gets-green-light

New $500M downtown Orlando sports, entertainment district gets green light The City of Orlando gave developers the green light on Monday to begin constructing the 8.5-acre sports and entertainment district near the Kia Center.

Had a great time with Wettermann Homes, Inc today going over their build process and updates within the construction industry!

Takeaways:

1) Lead times for materials and labor ARE getting back on track from COVID.

2) Prices for materials and labor are NOT coming down. “You can get people to show up, if you pay ‘em” - Kurt

3) Delays still happen even with labor and materials back on track. Not always, but no amount of forecasting can predict delays from things like rain or hurricanes.

New listing in Winter Springs makes an excellent opportunity for investors or for occupants to build their own sweat equity. Bones are good, but property needs a little TLC!

- 2/2.5 bath END UNIT
- Community pool, basketball, volleyball, tennis, pickleball and more.
- Wood burning fireplace
- Balcony off the master bedroom
- Carport and dedicated parking
- $244,900

Message me today for viewings!

New listing in Davenport, FL in the vacation rental community Solterra Resort! Available for use as primary residence, investment property, or second home.

- Built in 2021, comes fully furnished
- 7 bedrooms, 5.5 bathrooms
- Pool + spa
- Themed bedrooms, converted garage to game room
- Bookings already in place!
- $689,900

New Short Term Rental Investment Opportunity! Current bookings in place and ready for a new owner. Message me for more details.

- 8 Bedrooms, 7 Bathrooms
- Private Pool
- Close Proximity to the Parks
- Encore at Reunion features a 10-acre water park, full-service spa, gym, two tennis courts, two basketball courts, three volleyball courts, golf, full soccer field, clubhouse, on-site restaurants, bike rental
- $749,900

Listed and pending in 4 days!

The market continues to show resilience as demand outpaces supply.

- Orlando, FL
- 3 Bedrooms, 2 Bathrooms
- Gated community
- Hardwood and tile throughout
- $289,900

Closed! Who says you can't finance an investment property with these rates?

We have a new contender for the ugliest building on I-4. Maybe this just becomes Orlando's thing... a corridor on I-4 of hideous glass buildings. Could be fun.

https://www.orlandosentinel.com/2023/10/18/data-center-along-i-4-in-eatonville-nears-completion-despite-ballooning-construction-costs/?fbclid=IwAR3yoxlux67dRkzPYmOMTUPk_HgDv1GFNjgjT62Pqe0oMcKnwXTX9p2WoYc

Eatonville data center on I-4 nears completion as cost balloons to $58M The seven-story data center that’s been taking shape for years in Eatonville just off Interstate 4 has wound up costing much more to build than expected.

The graph on this topic is quite impactful. The shortage of homes built combined with unprecedented (healthy) demand has truly left a void in the industry.

That said, there are still plenty of options out there, and would-be home buyers shouldn't be deterred. Rather, it's important to be educated on the circumstances so you better know how to navigate the landscape when the time comes.

Closed! There's no need to be intimidated by the market when you're in it for the long run.

If you're concerned with what happens to the market in the next few years there's a good chance now isn't the right time!

Prices took a dip late last year, and with no change expected in interest rates, a lot of people assumed prices would stay flat or decrease. Including myself.

And why not? The trend was already happening and nothing was slated to change.

But within months, buyer sentiment changed. They bucked the trend and were reminded that owning with a 6% interest rate is still better than renting. Now we're back with rising prices which will surely increase further if rates come back down making housing a little more affordable. Fun times.

Lake Nona's expansion continues with a new shopping center, Lake Nona West, hosting about a dozen buildings, including a big box anchor store, a grocery store, a bank and restaurants.

Lake Nona West | Lake Nona Lake Nona West is a new lifestyle shopping center planned along Lake Nona Boulevard near Boggy Creek Road on a 54-acre parcel of land just minutes from the

Under Contract! Many new home construction companies offer closing cost assistance, sometimes upwards of $10,000.

This family weighed renting for another year or biting the bullet and buying now.

They took advantage of the builder's incentives and were able to buy a brand new house a year sooner than expected 🏠

This conversation has been coming up more lately. An advertised low interest rate might mean NOTHING if you're being charged an arm and a leg for it. You want to know the APR.

APR = Rate that takes your borrowing costs into account.

Just because one lender has told you they can get you a better rate doesn't mean it's advantageous for you.

Closed! The market is moving despite negative news around insurance, interest rates, low inventory, etc.

Because let me tell you who won't be giving you a break, and will simply pass those expenses on to you:

Your landlord.

Prices and buyers were temporarily stalled last year when interest rates rose at the highest YoY rate in history.

They will remain stable or continue to increase until either a) supply catches up with demand, or b) an economic disruption interferes.

We're facing record low inventory, record low turnover rates, and exploding population growth. What part of that says prices should come down?

Fla.’s Projected 10-Year Growth? 2.5M People The Fla. Legislature’s demographic office says that the state had 22.6M Floridians in April, and predicts it will have 25.1M by April 2032 – an almost 11% increase.

Most industry professionals have found that people are perfectly fine with 7% interest rates. In fact, they're also willing to give up their low rates for a higher one.

The bigger problem is that no one wants to enter a ~7% mortgage with the very limited housing options available to them today.

People are no longer settling like they did 2 years ago; they're being quite selective.

Until the consumer has more CHOICES, it won't matter how much MONEY the government pours in. Prices will rise and people will sit on the sidelines, further exacerbating the problem.

Home maintenance never ends!

Maintaining your home is crucial. These easy-to-do home maintenance tips can make a huge difference in keeping your home healthy and safe.🏡

Take doors off hinges? No, don't do that.

Rein in colorful patterns and cluttered walls? Yes, clean that up.

Income, credit and assets.

A lender once told me if you have 2 of the 3, they can find a loan that works for you.

Our brokerage is pretty awesome 👊🏻

We are proud to be the official real estate partner of .knights .🤝🏈

“It's unknown yet when the train's route from Miami to Orlando will open, but train officials said it could be anytime before June”

https://www.palmbeachpost.com/story/news/local/westpb/2023/04/18/brightline-high-speed-rail-five-updates-on-the-miami-to-orlando-route/70127659007/?utm_source=facebook&utm_medium=Social&utm_campaign=ghf-palmbeach-westpalmbeach&mibextid=ykz3hl&fbclid=IwAR1BT35lBJE9KaJCbwOJyD0fZ3GNZq_EE6RyJG1L98ywfvq3wBNXtvGClZQ

Brightline to unveil Orlando station this week: When will you be able to take the train? Brightline will unveil its Orlando station this week. Routes to stations in Miami, Aventura, Fort Lauderdale, Boca Raton and West Palm are coming soon.

Down Payment + Closing Costs = Cash Needed to Close
Down Payment = Money put towards the home (equity you keep!)
Closing Costs = Expenses necessary to complete the transaction
Ask me how to make both of these as low as possible. You may be surprised!

Stucco exteriors are very common here in Florida! Unfortunately, so is CRACKING of that stucco. Here is how to cheaply fix it yourself!

How to Easily Repair and Seal Stucco Cracks | Fix Stucco Before Painting Stucco exteriors are common here in Florida. Unfortunately, even when properly maintained, they can split the paint and crack every few years! Luckily, it's ...

Rising interest rates & rising home prices have heavily cooled off the investor market. Finding a "good return" is next to impossible these days as breaking even becomes the new goal.

Not a bad notion for owner-occupants who are just trying to compete for a place to live.