Spring Q&A

I asked on my social platforms for Real Estate Questions for this Q&A session in March. Thank you to everyone who participated. This Q&A is based on Central Florida-specific real estate.

Q: Why are there so many open houses right now? (As of March 2025)

A: Florida’s housing market is still competitive. Open houses are a strategic marketing tool to attract Buyers to a neighborhood or specific house. Open houses are a great way to reach buyers without an agent (buyer broker agreement). Open houses create urgency by showing demand and attract more foot traffic by capitalizing on weekend traffic for high-interest markets.

Q: What is a Buyer Brokerage Agreement?

A: The Buyer Brokerage Agreement, or BBA, is a legal contract between the Buyer and the Agent/Broker for hire. The agreement outlines the agent's duties to the buyer, how and when the agent is to be compensated, and the timeframe of the agreement. As of August 2024, all buyers must have a signed contract with the agent they hire. When you work with Stephanie, you are given an example of the agreement during the Buyer Consultation meeting. The meeting is both an interview and an educational opportunity.

Q: When should I attend an Open House? Should I tell or bring my agent?

A: Attend an open house if you are casually browsing or narrowing your neighborhood options or if the property looks like a good fit for your needs. Always tell your hired agent before attending an open house. The agent will offer to come with you, or they may need to register you with the listing agent to protect your representation. Going solo and writing your name down may cause confusion later.

Q: What is considered a healthy real estate market?

A: A balanced or healthy market has 5 to 6 months of inventory. Its modest price appreciation is 3-5% annually, and homes sell in a reasonable time frame of 30-60 days. Central Florida has roughly 5.2 months of inventory in the $400,000 and under price point, with an average of 70 days on the market (March 2025).

Q: How accurate is Zillow?

A: Zillow is for ballpark estimates “Zestimates” and can be off by 5-20%. These estimates do not account for upgrades, desirability, or neighborhood trends. A comparative market analysis or CMA an agent prepares will be far more accurate.

Q: Why did you (Stephanie) step back into Property Management?

A: A few years ago, I stepped away from Property Management because I had a bad spell of tenants and owners, and it burned me out. I have stepped back in after a two-year break feeling refreshed, and I now have clarity and a streamlined process during interviews to help negate some of the negatives from years past. I like the opportunities that are available in property management, such as assisting long-term tenants in becoming homeowners.

Q: Why are there breed restrictions when renting a home with pets?

A: Breed restrictions are due to insurance policies that deny coverage for specific breeds. Property owners want to limit their liabilities to help with risk management.

Q: Who is responsible for repairs on a rental property?

A: Always refer to your lease for specifics. Typically, minor maintenance like changing air filters and replacing batteries and light bulbs is a tenant's responsibility. Major maintenance and repairs, such as plumbing, roof, HVAC, and other items related to habitability, remain with the landlord or owner of the property. Good communication and regular inspections by a property manager can mitigate abrupt repairs.

Q: Can you purchase two properties with a VA Loan?

A: VA loans are meant for primary residences. If you purchase a home and do not use the full entitlement, you may use the leftover entitlement to buy a second property. There are a lot of caveats with full entitlement. You should seek advice from your loan officer for all of the specifics.

Q: Can you (Stephanie) sell my house in another state outside of Florida?

A: I am currently only licensed in Florida; however, if you need help finding a local agent to work with in the properties state, I can help with that. I have helped several clients relocate to and from Florida and many other states, such as Wyoming, Pennsylvania, New York, New Hampshire, North Carolina, South Carolina, Georgia, Tennessee, and a few other countries. Every state has different real estate laws, so from the beginning, the other agent will need good communication when they are interviewed.