My name is Jarrett West and I am the broker / owner of EXIT Realty in Orlando Florida. I specialize in homes in Orlando 32801, 32803, 32806, 32807, 32812, Baldwin Park 32814, Winter Park 32789, 32792 and Winter Garden 34787 and all of East Orlando. Jarrett has personally and directly handled single sales up to $32,000,000 and more than 1,500 sales. I am passionate about EXIT Realty Magic City and the EXIT Formula and culture. Since 1999, my knowledge of Real Estate systems and processes have made me a leader in corporate Real Estate Brokerage. From Luxury properties urban, or country, new construction, vacation rentals, 2nd homes, retirement, relocations, renovations and resales. For over 2 decades My team and I have helped thousands of families sell and buy homes in Central Florida. This experience helps us confidently navigate the residential spectrum in Central Florida housing markets including Orlando, Winter Park and Winter Garden markets. Jarrett and his team at EXIT Realty Magic City take the time to get to know our client’s wants, needs and visions. We keep our clients expectations in the forefront and focus on the task at hand, selling your house for the highest price in the shortest amount of time with the least amount of stress possible. Or help you find the house of your dreams. You can expect to be advised as if we were negotiating the sale or purchase of our own home. Alumni of Rollins College and attended the Crummer Graduate School of Business. Highly experienced and skilled in direct tactical negotiations on any level. I have directly handled single sales up to $32,000,000. Have sold multi million dollar properties in Windermere and Winter Park. My analytical skills center on individual neighborhoods and economic differentials in communities and regions. I have owned homes and lived in Winter Park and downtown Orlando and Winter Garden. With 2 school aged children in St James Cathedral School and a member of Saint James Cathedral Church, coach of the SWARM Lacrosse athletes which is the feeder team to Bishop Moore High School Jarrett and staff understand the neighborhoods, public and private schools, extracurricular activities, shopping, dining and all the unique and wonderful things that make this a community and not just a place to live! Jarrett Has personally given much to charities and was the main driver for the Veteran’s Association of Real Estate Professional wwwVAREP.net. This 501c3, non profit is focused on educating the Real Estate and Mortgage industry to the benefits of the VA home loan and are active in advocating laws to update and modernize the VA homeloan and bring attention to this misunderstood program. The stated mission of the group is “Dedicated to increasing sustainable homeownership, financial literacy education, VA loan awareness, and economic opportunity for the active military and veteran communities. As the Florida State Director for the past 5 years Jarrett has recruited and been instrumental in forming 6 Board of Directors in 6 different cities throughout Florida to help carry out the mission. EXIT Realty Magic City is a member of EXIT Realty Florida and EXIT Realty International and is registered with the Florida Department of Business and Professional Regulations (DBPR). Jarrett is a longstanding member of the Orlando Regional Realtors Association. With an in depth of knowledge of the real estate market with a mortgage finance background Jarrett’s office will be able to make sure all buyers interested in your home have the means to purchase by asking the tough questions up front and we will never show your home to someone who does not meet the financial standards.
By: Jarett West (Owner/Broker)
Date: February 2023
On Value: All I can say is Florida is different. The particular area you are interested in is the hottest market around and the specific property type you are looking for has been depleted and just about exhausted. The old adage about land applies: They're just not making anymore. The reality here is that more and more successful individuals from around the country, and Canada, are now mobile due to Covid and this is such a great area to live. My 18 years in real estate + 6 years prior in mortgage banking (specifically in construction to perm custom home builder financing) spans the great recession, through the dot com bubble, to the aftermath of the S&L debacle, and rise of Frannie and Freddie. Prices have cycled the same every time, the best places are the last to take a hit and the first to recover. I listed thousands of bank owned properties during the crashes and recessions and the epicenter is normally Winter Park, but Winter Garden/Windermere is now a haven as well, including everything Disney and now Universal too.
Something else to think about in today's real estate market - there are operators in the real estate market now that I have never seen before. Since 2013, Wall St. has been and is still secruitizing REIT's for the sole purpose of buying residential properties. It was meant to clean up the foreclosure mess that happened. In my opinion it should have ended there, and regulated back to a normal market system. The REIT's continue to buy and there are half a dozen very large operators in my market, and many more copycats. From what I know, this is every market across the U.S., but especially in a high demand area like this. I was a witness to the building of an entire new service market centered on servicing these buyers. This started in 2013 with Blackstone. The industry has mushroomed and should be regulated. For that reason, I do not see a large crash coming. Everyone is paying the price.
Another perspective on this is Frannie Mae used to have restrictions on the number of properties they would allow individuals to finance (10). But with money being so cheap and the industry support many, many private indivuals have access to enough money and the system in place to buy and hold a lot more properties.
The closest comparison I have ever seen is the aftermath of the crash of the S&L industry in the 1990s when the commercial real estate market shifted from majority individual owned to institutionally owned, and the collapse of the residential S&L market.
In the segment of my market, you are interested in it is property location, scarcity of product supply and demand, relocating professionals, and institutional buyers. The first 2 factors will not change, how do we change the second 2 factors? I don't know if we can, the genie is out of the bottle so to speak. Even if somehow that part of the demand dries up, we still have a regular market here and still have a scarcity of supply.
My advice to anyone buying where you are looking right now is: If you can afford it and it makes you happy, buy it. It will most likely appreciate in value over time, and you will enjoy your time and be happier! That is priceless!
If you are selling elsewhere, sell quickly and cash out to the same degree (or more).
By: Jarret West (Owner/Broker)
Date: September 2022