Real Estate News From Florida Home Sales

How Does Rent to Own Housing Work?

rob@bluetorch.net (Rob Frierson) — Thu, 03 Sep 2020 15:30:02 GMT

How Does Rent to Own Housing Work?

Buying a home is a big deal, especially for those who have had credit problems in the past. The most common way to buy a home is with a mortgage loan, which requires both a credit score that the lender finds acceptable and enough cash on hand for a down payment (and usually some other costs). For some, this can be a barrier to home ownership because they either have previous credit problems or are unable to get the cash together to cover down payments and other costs. Fortunately, there are some alternatives available.

One option that can put home ownership within reach is rent to own housing. As the name implies, this provides an option where the would-be homeowner can actually take possession of the house as a renter before the purchase is finalized. While this may not be available as an option for everyone, here are some details about rent to own housing in case you’re considering a rent to own purchase.

The Basics

The basic idea behind rent to own housing may seem pretty simple. Instead of having to buy a house outright, you rent the home from the current owner instead, in much the same way that you would if you were only acting as a renter. The rental payments that you make typically cover both the cost of rental and pay a portion toward the asking price of the home itself. After a specified period of time has passed, you will either have paid off the balance of the property or (as is more common) will have a final lump-sum payment to make that finalizes the purchase of the house.

The Rental Contract

The lease that you sign when entering into a rent to own agreement is a bit different than your standard rental agreement. In most cases, you will agree to stay at the home for a longer period of time than your standard lease, and you may have an initial up-front payment to make that goes toward the cost of the house as well. The contract will detail exactly how much the owner wants for the home, what percentage of your rent will go toward that amount, and will also provide information about how you’re actually buying the house when the lease ends.

Option to Buy

In most cases, a rent to own contract features what’s known as an “option to buy” which gives you the option to pay any remaining cost to finalize your home purchase when the lease ends. Depending on the wording of the contract, you may also have the option to pay off that balance early and finalize the purchase even if the lease isn’t yet set to expire. You do need to be careful and read and pay attention to the details of this, however. While a “lease-option” contract like this gives you the option (but not the requirement) to buy at the end of the lease, some contracts actually contain what’s known as a “lease-purchase” clause, under which you have a legal obligation to buy regardless of whether you can actually afford it.

Maintenance Requirements

When you rent a home, maintenance and other upkeep is generally the responsibility of the landlord. In a rent to own situation, however, the lease will sometimes specify that the would-be homeowner is responsible for some or possibly all of the upkeep and maintenance instead. You may even encounter sellers who gradually shift the responsibility to you the longer you stay in the property, though this is less common than some other setups. Still, it’s important to know from the start who is going to be responsible for things that come up before the lease expires.

Getting Your Rent to Own in Shape

Depending on the terms of your rent to own contract, you may end up with some things around the house that you’ll need to fix yourself, and we can definitely help you with that! Check out some of our preferred vendors or call , text or email me any time with any comments or questions, and I'll be happy to connect you with contractors, electricians and other pros who can get your home in tip-top shape.

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Florida Home Sales will find your perfect home at the perfect price!

Metal Roofing for Homeowners

rob@bluetorch.net (Rob Frierson) — Wed, 26 Aug 2020 15:21:38 GMT

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The Florida Real Estate Market is HOT! HOT! HOT!

rob@bluetorch.net (Rob Frierson) — Mon, 24 Aug 2020 19:30:50 GMT

Florida Realtors: July Housing Market Had ‘Wave of Closed Sales’

By Marla Martin

Just how busy is the Florida real estate market now?

Florida Realtors’ data: July saw more sales, higher median prices, more new pending sales and more new listings year-over-year. Single-family sales rose 11.7%; condo sales were up 6.5% – “the 1st year-over-year increase in this category since March,” says Chief Economist O’Connor.

ORLANDO, Fla. – Florida’s housing market continued its positive momentum in July despite the corona virus pandemic, with more closed sales, more new pending sales, higher median prices and more new listings compared to a year ago, according to Florida Realtors’ latest housing data.

Single-family existing homes sales rose 11.7% compared to July 2019, “the best monthly performance for this property type since January’s nearly 18% increase,” says Florida Realtors Chief Economist Dr. Brad O’Connor.

“New pending sales of single-family homes also showed big gains, up by 21.7% compared to July of last year,” he says. “Coupled with the 23.2% year-over-year increase in new pending sales in June, all indications are that this wave of closed sales will continue on through the end of the summer and perhaps beyond. Year-to-date through July, statewide single-family existing home sales are only down by about 4% compared to last year.”

Given the recent surge, O’Connor thinks it’s “quite likely that by the end of August, we will be in positive territory overall for 2020.”

O’Connor notes that July’s existing condo-townhouse closed sales rose year-over-year as well, while the category’s new pending sales increased 19% compared to July 2019, after a gain of 19.8% year-over-year in June – “putting us in great shape going into the fall.”

July’s market data shows the underlying strength of Florida’s economy and real estate sector, according to 2020 Florida Realtors President Barry Grooms, a Realtor and co-owner of Florida Suncoast Real Estate Inc. in Bradenton.

“The latest data shows our state’s housing market continues to recover from the stall experienced this spring,” Grooms says. “Even as we all must continue to take the recommended precautions to safeguard our health and our communities due to the pandemic, record-low interest rates and a renewed interest in home ownership are driving home buyer demand.

“Consumers can turn to a local Realtor for expert advice and guidance on how to navigate the complexities of buying or selling a home.”

Last month’s closed sales of single-family homes statewide rose 11.7% year-over-year, totaling 31,436, while existing condo-townhouse sales totaled 11,147, up 6.5% – the first year-over-year increase in this category since March, O’Connor says. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

In July, the statewide median sales prices for both single-family homes and condo-townhouse properties rose year-over-year for the 103rd consecutive month. The statewide median sales price for single-family existing homes was $295,000, up 10.1% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $210,000, up 11.7% over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.

Year-over-year growth in median sale prices was up soundly for both property type categories in July, according to O’Connor.

“I caution that these year-over-year percentage increases may be slightly overstated, as many higher-priced market areas that are normally cooling down this time of year are unusually active because their peak seasons were pushed back (due to the pandemic),” he says. “But most of these increases truly can be attributed to home price appreciation being driven by lower mortgage interest rates inducing greater demand. When rates go down, you can afford a higher-priced home – but then again, so can competing buyers, so we’re definitely seeing prices getting bid upward.”

On the supply side of the market, inventory remains scarce and is an area of concern, particularly in the single-family existing home category, which was at a severely restricted 2.5 months’ supply in July. Condo-townhouse inventory (active listings) was at a 5.6-months’ supply.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.02% in July 2020, down from the 3.77% averaged during the same month a year earlier.

To see the full statewide housing activity reports, go to Florida Realtors’ Tools and Research section. Realtors also have access to local market data (password protected) through its SunStats resource.

Contact the best Stuart Realtor and Jupiter Realtor today to take full advantage of this great real estate market!

Choosing Interior Colors: An Overview

rob@bluetorch.net (Rob Frierson) — Tue, 18 Aug 2020 19:33:22 GMT

Choosing Interior Colors: An Overview

A home is supposed to be a sanctuary, a place where you escape the chaos of everyday life. But sometimes those sacred spaces get pretty chaotic almost on their own. Maybe it’s clutter that’s overtaking your space, or maybe it’s something far worse: room colors that fail to harmonize. Repainting can be a big job, but if you go in with a plan you can create the home you’ve always wanted.

The Key? Think Globally

It can be very tempting to think of your home as a series of rooms, each wholly independent of one another. The truth is something different, though. Houses are actually a series of rooms that work together to create an overall atmosphere (plus, you know, a place to give you shelter and to store your stuff). When you consider how your rooms actually work together, you can choose colors that are far more likely to play well together room by room.

Start with the obvious: the rooms that are literally connected to one another. Unless you have a teenager, the chances are high that the doors will stay open long enough for you to be able to spy one room as you’re going through another. And, of course, you may have rooms that are literally part of one larger space, such as a living/dining combo.

Before you even walk into a paint shop or start looking at samples online, take the time to map out how each room interacts with the next. For example, a living/dining combo are two spaces that work independently, but also together. You’ll definitely want to consider each when you’re choosing colors, even if those colors aren’t exactly the same. For example, you may want to paint your living area a light blue and your dining area a light gray. Carefully chosen colors can harmonize together.

Rooms Behind Walls
What about the not so obvious rooms in your home, such as the guest bedrooms, the bathrooms or the utility room? Can they act independently since there’s a transition?

Yes, but mostly no.

As you move through one space, say, that calm living/dining combo we painted in the section above, you want to maintain a similar feel in the next space. So if your kitchen sits behind the dining area, rather than painting orange, for example, look for a color that harmonizes with the grays and blues. After all, you’re going to see the colors of that kitchen from your dining room.

It may seem kind of silly to worry about clashing colors that literally only overlap through a doorway, but those colors are more than just colors. Those colors are attitudes, they’re sensations, they’re hints at how rooms are meant to be used and what kind of overall atmosphere you want your home to convey. When going through a room transition makes it feel like you’ve stepped into a whole different house, you need to address the biggest design element there: the paint.

Although contrasting colors have their places and certainly can work in transitional spaces, you want to maintain coordinated colors between rooms. To make that more clear, your first goal is to choose the palette, and therefore atmosphere, that your whole home should convey. That might be pastels or jewel tones or earth tones, or whatever works for you, as long as it’s consistent. Your second goal is to apply those colors in a way that maintains the emotional effect you have in mind.

Going back to that kitchen, since our living room and dining were light gray and blue, you might consider a light blue-gray, a light green, or even a light yellow, depending on the palette you’re working with.

Colors are Moods, Choose Wisely

Sherwin-Williams has been predicting popular color palettes for years. They’re a great place to start looking for your new “it” colors. Other paint companies will also offer palettes among their paint chips, giving you a lot of pre-designed options if you’re not sure you can handle the job alone.

If you’re scratching your head about how to set just the right mood in your own home, your favorite painter can also lend a hand. If you don’t have a painter yet, check out the preferred vendors pag e for all the best painters in your area. Of course you could always give me a call directly at 561-213-9494 or email me HERE , and I'll be happy to help. You’ve got nothing to lose and a whole lot of harmony to gain!

Need help finding that perfect new home?
FloridaHomeSales will find exactly what you're looking for!

Smart Home Tools That Will Change Your Life

rob@bluetorch.net (Rob Frierson) — Mon, 03 Aug 2020 21:44:11 GMT

New Smart Home Devices That Will Change Your Life...

Smart home devices are increasingly popular these days. With automation assistants like Alexa and Google Assistant making device control easy, many homeowners are looking for the perfect devices to pair with them. With so many new devices to choose from, it can be a bit intimidating trying to figure out exactly what you need for your home. To help you out, here are a few items that might fall outside of the usual “must haves” but will completely transform your home for the better.

NVIDIA Shield TV Player

There’s a good chance that you already have a streaming device like a Roku in your home, so why would you need another streaming player? Not only does the NVIDIA Shield have some pretty impressive processing and memory stats, but it’s also compatible with a wide range of devices, and it comes ready to integrate with everything via Google Assistant. You can stream game content using NVIDIA’s GeForce NOW service as well. If that wasn’t enough, it runs Android TV apps so it’s capable of adding streaming channels that may not be available on Roku.

TP-Link Kasa Smart Power Strip

A power strip might seem like an odd choice to add smart capabilities to, but it’s a must if you’re trying to be energy-conscious and reduce your carbon footprint (along with your electric bill). With six individually powered outlets and three USB ports, this smart power strip lets you control what is and isn’t getting power via voice commands through most major digital assistants. That makes it easy to turn plugged-in devices on and off while also letting you monitor energy consumption for each device remotely.

Kohler Moxie Showerhead

Bluetooth speakers are increasingly common these days, and there are already a few models that are designed for use in the bathroom. So what makes this speaker option different? Aside from the showerhead being designed by the fixture pros over at Kohler, the speaker itself is located right in the center of the showerhead, so you don’t have to worry about the sound of your shower overpowering some little speaker elsewhere in the room. The speaker is easy to remove for charging and transport and comes in multiple color options to make customizing the look of your shower that much easier.

Yale Smart Delivery Box

Porch thieves are increasingly a problem as more people order items online. This simple-looking box is designed to take care of that problem, however. When you receive a delivery, the driver simply needs to place the package inside the box and let the lid close. Once closed, the smart lock in the lid engages and no one can open the box until you personally disengage it. There’s even a version of the Smart Delivery Box that allows you to set the lock for multiple uses on days when you’re expecting several packages and need to be able to reset it without collecting your package after each delivery.

Brilliant Control

If you really want to step up your smart home game, consider installing the Brilliant Control. This Alexa-enabled touch controller can control your devices, supports in-home video chats and gives your home a futuristic look because the controller is mounted directly into a wall switch. As you add new devices to your network, you can add icons directly to the Brilliant Control’s display so that you can have direct control over them with a simple touch.

Smarten Up Your Home

While some smart home devices are as easy to set up as plugging them in and setting up an app on your smartphone, others like the Brilliant Control require a bit of wiring knowledge. If you need to get an electrician or smart home expert in to help you set things up, let me know so that I can put you in touch with some of my recommended professionals, or see my list of Preferred Vendors here .

Need a REALTOR in Stuart or need a REALTOR in Palm Beach County?
Give me a call or text to find all the help you'll ever need at 561-213-9494

Accentuate the Positives of your home's features!

rob@bluetorch.net (Rob Frierson) — Thu, 16 Jul 2020 17:55:17 GMT

Accentuate the positive aspects of your home best features...

Your home’s a real looker, so why aren’t you doing all you can to point all the attention at its best features? Maybe you’re afraid that drawing so much attention to the details will leave your friends jealous, or maybe you just need some ideas for how to make those interesting details even more obvious. Either way, there are plenty of tricks you can use to accentuate the positives in your home.

Painting to Perfection

Paint is just one way to make your home’s best features shine, and there are all kinds of methods to make this happen. You don’t have to be a professional painter to get a lot of mileage out of some basic attention-getting paintwork, though hiring a pro can certainly help you get exactly the effect you’ve got in mind.

One easy way to catch the eye is to paint an accent wall, a wall or a section of a wall that’s a different color than the rest of the paint in a room. The accent wall’s location and color will really affect how well it does its job, but if you have a wall with a feature you want people to look at, it’s safe to assume that would make a good accent wall. In addition, painting the inside of a bookcase or alcove a different color than the main wall color can also get serious looks.

Another way to make paint an absolute neon sign is to use it to draw out the details in interior or exterior trim. If your millwork is relatively simple, a basic white can really grab attention. If there’s extra fancy trim involved, try using different colors to offset the trim’s different levels of detail.

Light It Up!

There’s no easier way to highlight something specific than by putting an actual spotlight on it. Got a great mantlepiece? Point a spotlight on it so you can really draw attention to it, especially after dark. Spotlights are great for art, murals, alcoves and other good features in your home. Just be aware of their location and proximity to things like windows that might make a spotlight a little less wow.

You could also install other accent lighting, such as LED strips, on the underside of a floating cabinet, around a particularly interesting mirror or trim piece or within a cutout in your room. This can bring a little more focus on the things you’re doing with that space. When in doubt, light it out… err… up.

Make Some Space

It may sound simple, but one of the best ways to draw attention to the great stuff in your house is to get rid of a bunch of other stuff in your house. When you have too many interesting things in one room, it gets visually overwhelming quickly! So instead of storing all your collectibles in one exceptional built-in, for example, just pick a few of your best to display so you leave plenty of negative space for contrast.

Eliminating bulky furniture, excess accent pieces and even pictures can also help the eye move to the architectural details. There’s a lot to be said for de-cluttering if you really want your house to stand out. Keep pieces that mimic or have features or styling in common with what you want to accent, and move out those that seem to clash with the details in question.

Need a Little Help Finding the Positives?

Not everybody has an eye for details, but I do it every day. If you’re struggling to figure out how to really put a point on the hand carved details in your woodwork or aren’t sure which wall should be your accent wall, you’re not alone. Give me a call any time for help locating the best painters, interior designers and other home pros in your area.

And, when you're ready to sell your home for top dollar, you can do it with the confidence of knowing that it looks its best, and that you've selected the best Realtor for the job...ME!

When selling your home, let me help you accentuate the positive aspects of it so that you can get the most out of it

Your Pre-Listing Checklist

rob@bluetorch.net (Rob Frierson) — Thu, 09 Jul 2020 20:54:32 GMT

Here's your official Pre-listing checklist...

When it comes time to list your home, you’ll want to come up with a list of small repairs and other tweaks that you can do to try and get the most out of your property. If you don’t make a list, you might miss things that could bring down what potential buyers are willing to pay for your home. While there might be a lot of things to consider depending on the specifics of your home, here are some items that you should definitely double check before putting up a listing for your property.

The Paint

How do the walls in your home look? If it’s been a few years since they’ve seen a coat of paint you should probably consider giving them a fresh coat. This is especially true if previous work was done in a hurry or has obvious spots where patches were done and covered up with newer paint. A sloppy or mismatched paint job will turn off a lot of potential buyers since they’ll likely see it as a task they’ll need to undertake as soon as they buy the house.

Roofing and Siding

While you’re considering things that might be a big red flag for possible buyers, step outside and take a look at the siding, brickwork and roof. Even if you only have a few problems out there, to someone looking at the house, that could raise questions about leaks, insects and other issues the buyers might face in the future. If you want to get the most out of your home, then it’s worth replacing broken shingles or fixing bits of damage or discoloration on your home’s exterior.

Faucets and Plumbing

Leaks, drips and other plumbing issues are pretty common, and it’s easy to get used to them over time. If someone is shopping for a new home, however, a notable drip from a faucet or evidence of a leak can be big warning signs. Nobody wants to pay full price for a home if they might be facing water damage in the near future, so taking care of any drips or leaks, as well as stains that they might have caused, is a great move to make before you list.

General Landscaping

Sometimes it’s tempting to not worry too much about the landscaping when listing your home. If the landscaping has obviously been ignored, though, it may leave potential buyers wondering what else hasn’t been taken care of. Even if you just spend a little time trimming up the shrubs and eliminating some unsightly weeds, you can make a big difference on the first impression made to someone considering a purchase.

Clutter and Trash

Just as with landscaping, having clutter or other trash around can make a really bad impression when someone is looking at your home. There may be good reasons why things look a bit cluttered, but a potential buyer isn’t going to know what they are and quite likely won’t bother to ask. Take the time to straighten up and get rid of the garbage before your home goes on the market.

Obvious Repairs

There are many other small repairs that are worth making before your home gets listed. Any little bits of damage or discoloration should be evaluated to see if they can be repaired. While you may not have the time or budget to fix everything, you should still attempt whatever repairs you can. Your home obviously doesn’t need to be perfect, but the better it looks the higher the eventual closing price will be.

Need Some Help?

Depending on the condition of your property, getting your home ready for listing might be a big job on top of your normal work. If you need to call in some help, HomeKeepr has you covered. Sign up for a free account today to connect with contractors, plumbers and other pros who can help you get your home in tip-top shape before you list.

We'll help you sell your south Flroida home FAST!

Call us when you're ready to make things happen!

Is It Time to Build an Indoor Play Space?

rob@bluetorch.net (Rob Frierson) — Tue, 30 Jun 2020 13:32:28 GMT

Is It Time to Build an Indoor Play Space?

Play is important for kids. It’s especially important for kids to have active play as a part of their routines, since it builds imagination, physical coordination and other important developmental skills. Unfortunately, not everyone lives in places that are well suited for outdoor active play. Small yards, a lack of easy access to public playgrounds and excessively high summer temperatures can all lead to kids spending a lot more time inside than they would otherwise.

If your kids need more play in their lives and need an option that doesn’t involve going outside, it might be time to consider an indoor play space. Not only will this enable your kids to play regardless of the weather or other outside conditions, but it can also net you some serious “cool parent” points once it’s finished. There are a lot of possibilities for how you might tackle an indoor play space, of course, so here are a few ideas to get you started.

Climbing the Walls… Literally

There are many ways that you can add climbing options to an indoor play space. Climbing ropes, rock climbing wall units and even “trees” that are designed for climbing can help your kids have fun and burn off some of their pent-up energy. If you don’t want to go for one of these options, you could even add a smaller jungle gym or similar play structure. Regardless of what sort of climbing option you choose, the key to all of this is making sure that they are securely mounted so that nothing can come loose during a play session. Some added padding on the floor is also a good idea to help absorb any impacts in case your climbers decide to jump down instead of climbing all the way.

Bounce Around

Another fun option for bringing the outdoors inside is to place a small trampoline inside the play area. There’s a little more to this than simply putting a trampoline together, of course; the trampoline will need to be secured and it should have netting and other protective gear installed to prevent injuries during play. The end result offers a lot of fun, though. Just make sure that you choose a trampoline unit that’s small enough to easily fit indoors but big enough that your kid can actually bounce around inside of it. Most likely you’ll want to get a 6-foot or 8-foot trampoline at most.

Bringing the Outdoors Inside

There are a number of ways that you can bring elements of the outside indoors for the play area you build. You can create an indoor “treehouse” that captures the look and feel of outdoor play within an enclosed room. You could also add artificial grass in place of carpeting to give some or all of the room more of a feeling of being outside. Creative paint and lighting can make the room more fun while replicating some of the feel of playing under a bright blue sky, and adding multiple or large windows can let in some natural sunlight as well. You could even add popular outdoor options such as a sandbox to give even more ways to play; just make sure that you have a plan in place to clean up spilled sand.

Open the Imagination

You don’t have to dedicate a child’s play room to a single play option or theme. You could have multiple stations within the room including a block table, a play kitchen, car seats, an “outdoor” area and more. You could even forego some of these formal stations and simply provide ample space for play and extra storage to keep it organized. You know your kids, so design the play space that will fit them and their preferences the best.

Bringing It Indoors

From updating outlets for safety to adding custom construction or storage, there is a lot of work that you might need when designing an indoor play space. Fortunately, HomeKeepr is exactly what you need to find the contractors who will get the job done. Sign up for a free account today to connect with construction contractors, electricians and anyone else you might need to help make this dream come true for your kids.

Let Florida Home Sales help you find the perfect south Florida
home for your entire family. Call us any time at 561-213-9494

Things to consider when buying lake property

rob@bluetorch.net (Rob Frierson) — Fri, 26 Jun 2020 15:51:59 GMT

Things to consider when buying lake property...

I personally live on a lake, in the neighborhood of Lake Tuscany, in Stuart Florida, so I know a little something about living on a lake. Lakeside living can bring up some interesting aspects that many people may not have considered, so I thought it might be helpful to write an article on some things that you'll want to consider when shopping for a new lake-front paradise.

Buying a lake house can be a great investment, regardless of whether you intend to use it as a vacation property or a year-round residence. With that said, you shouldn’t rush into buying a lakefront property just because it’s available. As with any house, there are some things that you should think about before you sign on the dotted line. Here are a few specific considerations you should keep in mind when looking at a lake property that’s for sale.

Higher Moisture Levels

One of the first things that you’ll notice is that there’s more moisture in the air close to the lake. Higher humidity can be unpleasant during the summer, but it also can have a negative effect on your property as a whole. Mold, mildew and other humidity-related damage can occur over time, so it’s important to make sure that properties you consider were built and furnished with this in mind.

High Water Table

Because the property sits close to the lake, you’re going to have a higher water table than you would with more landlocked properties. This isn’t necessarily a bad thing, but if the property has a basement or other underground area then you need to see what effects the water table has on those areas. Keep an eye out for leaks, flooding, cracks or mold that might be a result of the water table being higher than usual.

Lake Access

Having a home close to the lake is nice, but it becomes significantly less nice if it doesn’t offer you lake access that meets your needs. If you have a boat, see if you’ll have easy lake access from your property or if you’ll have to get on the water somewhere else. Likewise, if you just want peaceful evenings to watch the sun set over the water, make sure that there isn’t a busy lake access point or marina close to your property.

I nspect the Water Line

There’s more to consider when buying a lakefront property than just the view. Take the time to walk along the water line and see what sort of shape the shore and the nearby water are in. Look for signs of erosion in the shoreline and yard and see whether the water itself is choked with weeds or other plant life. You should also look for signs of debris or other indicators of how high the water tends to get when the lake is swollen from rain.

Take a Deep Breath

A lake house can be a feast for the eyes, but those aren’t the only senses you’ll experience your lake property with. Lakes often have a distinctive smell, and in some cases, it can be pretty strong. A little bit of lake odor is usually pretty easy to overlook, especially if your house is set back from the water a bit. For some lakes, though, it can be almost overpowering, especially during the summer months when you’re most likely to want to be out on the lake. Before you buy, make sure that any odors from the lake are tolerable not only for you but also any guests that you might want to invite out.

Check on Your Insurance

If you’re buying a lakefront home, you may find that it costs more to insure than a property that’s more inland. In some cases, the insurance can cost substantially more. That’s not even counting flood insurance or other disaster-related policies that you’ll likely want to take out. Just make sure that the cost of insuring your new lake property isn’t going to be more than you can really afford to take out.

Find the Perfect Lake Property

It can take a lot of searching to find a lakefront property that checks all of your boxes. Fortunately, HomeKeepr is here to help. Sign up for a free account today to find the experts you need to inspect and customize the lake home of your dreams.

Living on a lakefront property can be a dream come true.

It certainly is for me!

Let me help you find your dream home on a lake!

Smart Homes and Mesh Networks - By Florida Home Sales

rob@bluetorch.net (Rob Frierson) — Tue, 23 Jun 2020 19:17:03 GMT

Smart Homes and Mesh Networks

Smart homes and smart home tech are becoming increasingly popular these days. Various smart home devices, sensors and more can add new functions to a home, automating some tasks and even increasing your home’s security. Unfortunately, some homeowners run into problems with smart home devices that have to be on the same home network to interact. Traditional WiFi extenders sometimes create separate but overlapping networks, meaning that devices outside of the range of your wireless router might not work correctly.

There are ways to get around this, however. One option is to set up a mesh network within your home. Unlike traditional WiFi extenders, mesh network extenders create a single wireless network that all your devices can attach to. If you’re considering adding smart home devices and have signal problems within your home, a mesh network setup is definitely worth considering.

What Exactly Is a Mesh Network?

With a standard WiFi network, your router or other access point typically serves as a hub for network connectivity and any extenders or other network components connect directly to it. Mesh networks are set up a bit differently, however. In a mesh network, each device connects not only to that central hub but also to each other. This creates a “mesh” of paths throughout the network, allowing signals to route through the network in multiple ways to ensure even coverage. This helps to prevent dead spots or weak signals, eliminating the need for overlapping wireless networks.

Do You NEED a Mesh Network?

Mesh networks can be useful, especially if you’re trying to keep smart home devices on the same network so that they can interact with each other. Depending on your home and where your wireless access point is located, though, they may not be entirely necessary. If your router is centrally located, or has a strong enough signal to provide good coverage throughout your home, your smart home devices should be able to communicate even without a mesh network.

With that said, mesh networks can be very useful if some parts of your home have weaker signals than others or if you plan on adding devices outside of your home and aren’t sure how well your network will be able to handle it. Even if your network seems adequate for your needs, you may consider a mesh option to create more uniform coverage.

Smart Home Devices on the Mesh

There are a wide range of smart home devices that could benefit from being connected to a mesh network. Devices such as cameras and intrusion sensors should stay online and connected, regardless of whether they’re inside or outside the home. Likewise, safety sensors such as smart smoke detectors need to be able to communicate, as do heat sensors and even leak sensors, to ensure that your home is well covered without the need for multiple devices or apps to help them stay connected. Even devices such as smart door locks and a smart thermostat can benefit from being on the same network to make automatic temperature adjustments more intuitive depending on whether the doors are locked or not. The more you’re able to connect your devices to a single network, the more likely you are to come up with innovative ways for your various smart home devices to work together.

The Smart Home of Your Dreams

Whether you want just a couple of smart home devices or a fully automated house, picking the right components to make your home a little smarter can sometimes be a daunting task. This is especially true if the devices you want actually need to be installed as opposed to simply plugging them in. Fortunately, HomeKeepr can help you get the smart home you want. Sign up for a free account today to connect with electricians and other specialists who can help you pick the devices you need and get them installed at a price you can afford.

See how Florida Home Sales can help you find your

dream home in Martin County or Palm Beach County

7 Must-Know Outdoor Lighting Tips

rob@bluetorch.net (Rob Frierson) — Thu, 18 Jun 2020 18:26:03 GMT

7 Must-Know Outdoor Lighting Tips

An expert shares his best tips for illuminating your backyard or porch.

With summer in full swing, you’re probably spending most of your time enjoying the great outdoors—and that likely includes relaxing in your backyard, or hosting friends for a dinner alfresco. Don’t let the fun stop once the sun goes down just because your outdoor lighting is nonexistent or inefficient. Not all outdoor lighting is created the same, and it requires more than just putting up a wall light or some string lights and calling it a day. To create ambience, it’s all about choosing the right type of lighting fixture for your backyard. Luckily, Michael Murphy, Interior Design and Trends Producer for Lamps Plus, is here to help. Here, Murphy breaks down the different types of outdoor lighting, where to place fixtures, how to calculate how much lighting you need, and much more. Use his tips and you’ll be able to enjoy those fun summer nights even more.

1 Include These Three Types.

Make sure to incorporate the three basic types of lighting: ambient, task, and accent. Ambient lighting can be achieved through hanging lights, post lights, and wall lights. Task lighting includes pathway lights, plus deck and security lights. And you can get accent outdoor lighting with landscape kits and spotlights. “For a small patio and a modest budget, consider string lights, solar spotlights, or LED candles,” Murphy says.

2 Calculate.

Before you start shopping, you’ll need to figure out exactly how much lighting you need. “To determine how much light a space requires, try this quick calculation: multiply the square footage of the area you want to light by 1.5 to get a rough estimate of the total wattage required,” he says. “For example, 100 square feet of space would require 150 watts.”

3 Plan Ahead When Choosing Fixtures.

Observe your space and take measurements so you don’t choose fixtures that are too large-scale. “Check the size and position of a fixture before you buy using a simple piece of paper,” Murphy says. “Use a paper template to determine exact placement to review the size before buying. For either the front porch or the back patio, the size of an outdoor wall light should be approximately one-third the height of the door.” You’ll also want to make sure you’re choosing sturdy lighting, one that’s made of high-quality and weather-resistant materials.

For a lawn quick fix, Murphy suggests using a landscape lighting kit. “Try a kit that plugs directly into any outdoor outlet,” he says. “These kits typically consist of several ground spot lights strung together on a single cord. Arrange them in a garden to cast dramatic shadows or place around the perimeter of a patio to set a festive mood.” You can also try solar landscape lighting as well.

4 Use LEDs.

“They use far less energy than halogen or incandescent bulbs,” he says. “Plus, they are almost maintenance-free, so you won’t have to change bulbs.” Sure, they may cost a tiny bit more to purchase initially, but the lack of maintenance required for them, their durability and ability to withstand nearly any kind of weather, the fact that they don't attract ants and bugs or put off as much heat as other light types, they last nearly TEN TIMES longer than other bulb types, and the savings in electricity cost all make it a much better investment for your yard.

5 Take a Look From Inside Your Home.

This can help you decide on which lighting to choose and how place it around your yard. “Consider how patio spaces, gardens, and pathways look like from inside your home,” he says. “Lighting gardens or shrubbery that can be seen from living or dining rooms give a room-expanding view to the outside at night. Think path lighting for garden areas, or use solar outdoor lighting for a quick and easy style update.”

6 Use Subtle Light for Entertaining.

Your dinner guests won’t want a bright spotlight on them while they’re enjoying their outdoor meal, so stick with lighting that gives a soft glow. “Outdoor rooms, especially dining areas, benefit from subtle, indirect lighting that helps create a restful mood,” Murphy says. “We're seeing more use of outdoor lanterns, pendants, and ceiling fans equipped with light kits to illuminate seating and dining areas. Use a dimmer with these fixtures; turn to full light when cooking or preparing food, or dim it down for eating and relaxing.”

7 Think About Security.

Outdoor lighting not only provides ambiance, but it can also secure your home. “Make sure all entry points of the home are well lit,” he says. “Outside the garage, mount a wall lantern on each side of the garage door or install a single fixture above. For added security, illuminate any side of the house in the shadows with spotlights installed on your eaves or use wall lanterns at side doors, windows, and garages.”

How To Buy Your First Home in 3 Basic Steps

Fri, 17 Apr 2020 18:56:10 GMT

How To Buy Your First Home in 3 Basic Steps

When buying or selling a home in Palm Beach County or Martin County,
call the experts at Florida Home Sales at 561-213-9494

10 Best Kept Secrets For Selling Your Home

Wed, 01 Apr 2020 20:13:03 GMT

10 Best Kept Secrets For Selling Your Home...

10 Best Kept Secrets for Selling Your Home
Tricks of the trade to help you get top dollar when selling your home.

Want to learn more about how to sell your home for top dollar?
Give us a call at 561-213-9494 today!

How To Stay Safe & Healthy In These Current Times - COVID 19

Mon, 30 Mar 2020 15:07:31 GMT

How to stay SAFE and HEALTHY during the COVID 19 virus crisis...

Questions about buying or selling a home in this market?

Give us a call, text, or email, and we'll be happy to help!

8 REASONS THE CORONAVIRUS WON’T CRASH THE HOUSING MARKET

Wed, 25 Mar 2020 17:51:46 GMT

8 REASONS THE CORONAVIRUS WON’T CRASH THE HOUSING MARKET

It’s all you hear on the news, it’s all you read in the papers, and it’s all you see on social media. The coronavirus is everywhere, and it’s safe to say that everyone is scared, both of the disease itself and the potential economic implications of the whole country going into a temporary quarantine.

Echos of the 2008 housing market crash have many agents imagining doomsday scenarios and assuming the worst.

But in a recent article published by USA Today, Gus Faucher, chief economist of PNC Financial Services Group, said, “A recession is not inevitable. If we do get a recession, it is likely to be brief and much less severe than the Great Recession.”

Faucher notes that the 2008 financial crisis and recession resulted from years of deeply rooted economic insecurities, which isn’t the case now.

“What we’re seeing is caused by something external to the economy,” Faucher said.

There are key differences in this market that spell good things for the housing market despite recent events. Let’s examine some of the key indicators that we will avoid a housing market crash.

1. Inventory is low.

A December 2019 Forbes article predicted a historically low level of housing inventory in 2020. According to NAR statistics, there is a chronic shortfall of 300,000 to 400,000 housing units every year.

Bryan Souza, a real estate agent from Fresno, Calif., who worked through the 2008 recession, says there is a key difference between that market and today’s.

“Back then, we had 18 months of supply...it was a buyer's market,” Souza said. Today, in our local metro and actually nationwide, we're looking at two to three months of inventory. And so, it's more of a seller’s market.”

Even when markets turn, buyer demand remains. Even if some buyers initially delay their purchases out of fear, when that fear subsides, most buyers will still want to buy — and that pent-up demand will turn into sales.

2. Mortgage rates are low.

Mortgage rates have been below 4% for some time and are expected to remain low. These low rates will encourage more people to buy, even if they are dissuaded by initial fears caused by the virus.

3. Subprime loans are down.

The 2008 crash was set off when banks and other lenders approved an overabundance of mortgages to unqualified buyers, driving up home prices to too-high levels. When home prices began spiraling down, millions of Americans stopped making mortgage payments and lost their homes, and banks were pushed to the edge of bankruptcy.

At that time, household debt climbed to a record 134% of gross domestic product. Today, household debt is at a historically low 96% of GDP. Households today are saving about 8% of their income, compared to just 3% in 2008.

According to data from the Federal Reserve Bank of New York and Equifax Consumer Credit Panel, from the third quarter of 2001 through the end of 2008, an average of 20% of all mortgages originated went to people with subprime credit scores (lower than 660). In the third quarter of 2018, subprime borrowers received just 9% of all mortgages.

All of this means more Americans are better equipped to handle a temporary economic disruption that won’t significantly impact their ability to buy homes or hold onto their current ones.

4. Today’s homeowners have more equity in their homes.

According to a Federal Reserve report called the Flow of Funds, Americans owned $18.7 trillion of their homes, giving them a 64% equity stake. By comparison, this number was just 52.7% in the first quarter of 2007. This means that the vast majority of homeowners will have no problem keeping their homes during these uncertain times.

5. The government is offering a moratorium on foreclosures for 60 days — which is likely to be extended for up to 12 months.

In light of the current situation, the Department of Housing and Urban Development announced that all single-family homeowners with Federal Housing Administration-backed mortgages would be shielded from foreclosure or eviction until mid-May.

The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to suspend all foreclosures for "at least 60 days." The FHFA also offered payment forbearance to homeowners affected by COVID-19, allowing them to suspend mortgage payments for up to 12 months.

These moves should instill confidence in home sellers and give them an opportunity to sell their homes during the extension.

6. Home prices appreciated during previous recessions.

Not every recession signals a housing market crash. In fact, home prices went up in three out of the last five recessions (1980, 1981, 2001) and remained mostly flat in one (they dropped 1.9% in the 1991 recession). They only dropped significantly in 2008.

According to Zillow, annual home value appreciation across all states since 1997 has averaged 4.6% during times of economic growth and 4% during recessions.

The current market conditions are much more similar to how they were in 2001, after 9/11.

7. People will always need a place to live.

More than ever, people understand the value of having a roof over their heads. In times of uncertainty, homeownership is a security people take pride in and work toward. Real estate is above all a human industry, and humans crave the stability of homeownership.

8. No one knows how long this will last.

Fear is at an all-time high right now. There is so much uncertainty about how this virus will impact people in the United States that people are assuming the worst.

If a viable cure is found in the next few weeks and rolled out, this pandemic could be a much shorter-term issue than initially anticipated. Now is not the time to start panicking and stop doing what works and makes sense.

If you have a solid marketing strategy, like a marketing system you follow or marketing materials, like books, that are consistently helping you get listings, now isn’t the time to abandon tried and true resources.

Stick to what’s working, adapt with the change, and you will come out on top.

Want to learn more about the buy or selling real estate in these changing times? Click HERE to contact me today.

20 Step Checklist to Prepare You to Sell Your Home

Mon, 23 Mar 2020 15:59:13 GMT

20 Step Checklist to Prepare Your Home for Real Estate Photos

When you're ready to sell your home in Palm Beach County,
Martin County or St Lucie County, let us help!

5 Signs That You're Ready To Buy Your First Home

Mon, 23 Mar 2020 13:39:46 GMT

5 Signs That You're Ready To Buy Your First House

I bought my first house within a few months of being married in my early 30's. I honestly had no idea what I was doing, but I knew that I did not want to throw my money away on rent payments. My wife and I worked on our budget, researched different areas, and bought our first home right off the bat. Looking back, it was one of the most exciting times of our lives. We have so many wonderful memories of our daughter being born and growing up in that first house. We lived there for almost ten years, which is the longest that we have lived anywhere to date. If we would have rented and moved around during those times, my family's memories of these early times would have been much different. I am very glad that we jumped right into home ownership in our first few months of marriage.

Owning a home is one of the greatest foundations to build memories. I am more aware of this now than ever. Looking back through family pictures always triggers memories from the homes that we lived in and each home was special for its own reasons. When my wife and I look for a home these days, we are truly searching for a property that will create wonderful memories. It's our #1 priority.

Have you been feeling the urge to own your own house and build some solid memories there? Are you tired of paying increasing rental rates and watching your money go into your landlord's pocket every month? Maybe you have some very specific design ideas, but you can't apply them to your current living situation. Are you living under someone else's roof and ready to own your own place? There are many different circumstances that motivate people to purchase their first house. Knowing the right time in your life to buy a home is an important part of the process.

When you're ready to start shopping for your new home in Palm Beach County, Martin County or St. Lucie County, we're here to help you find the home of your dreams.

How Your Tax Refund Can Move You Toward Home Ownership This Year

Tue, 10 Mar 2020 14:38:23 GMT

How Your Tax Refund Can Move You Toward Home Ownership This Year

If you’re looking to buy a home in 2020, have you thought about putting your tax refund toward a down payment? Home ownership may be one step closer than you think if you spend your dollars wisely this year.

Based on data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $2,962 when filing their taxes this year.

The map below shows the average tax refund Americans received last year by state:

According to programs from the Federal Housing Authority, Freddie Mac, and Fannie Mae, many first-time buyers can purchase a home with as little as 3% down. Truth be told, a 20% down payment is not always required to buy a home, even though that’s a common misconception about home buying. Veterans Affairs Loans allow many veterans to purchase a home with 0% down.

How can my tax refund help?

If you’re a first-time buyer, your tax refund may cover more of a down payment than you ever thought possible.

If you take into account the median home sale price by state, the map below shows the percentage of a 3% down payment that’s covered by the average tax refund:

The darker the blue, the closer your tax refund gets you to home ownership in one of these programs. Maybe this is the year to plan ahead and put your tax refund toward a down payment on a home.

Bottom Line

Saving for a down payment can seem like a daunting task, but the more you know about what’s required, the more prepared you’ll be to make the best decision for you and your family. This tax season, your refund could be your key to home ownership.

Use your tax return to buy your new home in
Palm Beach County, Martin County, or St. Lucie County!

Real Estate Is Soaring, But Not Like 2008

Fri, 06 Mar 2020 16:20:21 GMT

Real Estate Is Soaring, But Not Like 2008

Unlike last year, the residential real estate market kicked off 2020 with a bang! In their latest Monthly Mortgage Monitor, Black Knight proclaimed:

“The housing market is heating entering 2020 and recent rate declines could continue that trend, a sharp contrast to the strong cooling that was seen at this same time last year.”

Zillow revealed they’re also seeing a robust beginning to the year. Jeff Tucker, Zillow Economist, said:

“Our first look at 2020 data suggests that we could see the most competitive home shopping season in years, as buyers are already competing over…homes for sale.”

Buying demand is very strong. The latest Showing Index from ShowingTime reported a 20.2% year-over-year increase in purchaser traffic across the country, the sixth consecutive month of nationwide growth, and the largest increase in the history of the index.

The even better news is that buyers are not just looking. The latest Existing Home Sales Report from the National Association of Realtors (NAR) showed that closed sales increased 9.6% from a year ago.

This increase in overall activity has caused Zelman & Associates to increase their projection for home price appreciation in 2020 from 3.7% to 4.7%.

Are we headed for another housing crash like we had last decade?

Whenever price appreciation begins to accelerate, the fear of the last housing boom and bust creeps into the minds of the American population. The pain felt during the last housing crash scarred us deeply, and understandably so. The crash led us into the Great Recession of 2008.

If we take a closer look, however, we can see the current situation is nothing like it was in the last decade. As an example, let’s look at price appreciation for the six years prior to the last boom (2006) and compare it to the last six years:

There’s a stark difference between these two periods of time. Normal appreciation is 3.6%, so while current appreciation is higher than the historic norm, it’s certainly not accelerating beyond control as it did leading up to the housing crash.

Today, the strength of the housing market is actually helping prevent a setback in the overall economy. In a recent post, Odeta Kushi, Deputy Chief Economist for First American explained:

“While the housing crisis is still fresh on the minds of many, and was the catalyst of the Great Recession, the U.S. housing market has weathered all other recessions since 1980. With the exception of the Great Recession, house price appreciation hardly skipped a beat and year-over-year existing-home sales growth barely declined in all the other previous recessions in the last 40 years…In 2020, we argue the housing market is more likely poised to help stave off recession than fall victim to it.”

Bottom Line

The year has started off very nicely for the residential housing market. If you’re thinking of buying or selling, now may be the time to meet with a real estate professional to discuss your options.

The housing market is HOT right now! Buy or sell your home in Palm Beach County, Martin County or St. Lucie County NOW!

Three Reasons Why Pre-Approval Is the First Step in the 2020 Home buying Journey

Fri, 06 Mar 2020 16:20:18 GMT

Three Reasons Why Pre-Approval Is the First Step in the Home buying Journey

When the number of buyers in the housing market outnumbers the number of homes for sale, it’s called a “seller’s market.” The advantage tips toward the seller as low inventory heats up the competition among those searching for a place to call their own. This can create multiple offer scenarios and bidding wars, making it tough for buyers to land their dream homes – unless they stand out from the crowd. Here are three reasons why pre-approval should be your first step in the home buying process.

1. Gain a Competitive Advantage

Low inventory, like we have today, means home buyers need every advantage they can get to make a strong impression and close the deal. One of the best ways to get one step ahead of other buyers is to get pre-approved for a mortgage before you make an offer. For one, it shows the sellers you’re serious about buying a home, which is always a plus in your corner.

2. Accelerate the Home buying Process

Pre-approval can also speed up the home buying process, so you can move faster when you’re ready to make an offer. In a competitive arena like we have today, being ready to put your best foot forward when the time comes may be the leg-up you need to cross the finish line first and land the home of your dreams.

3. Know What You Can Borrow and Afford

Here’s the other thing: if you’re pre-approved, you also have a better sense of your budget, what you can afford, and ultimately how much you’re eligible to borrow for your mortgage. This way, you’re less apt to fall in love with a home that may be out of your reach.

Freddie Mac sets out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

Local real estate professionals also have relationships with lenders who can help you through this process, so partnering with a trusted adviser will be key for that introduction. Once you select a lender, you’ll need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”

Freddie Mac also describes the ‘4 Cs’ that help determine the amount you’ll be qualified to borrow:

Capacity: Your current and future ability to make your payments
Capital or Cash Reserves: The money, savings, and investments you have that can be sold quickly for cash
Collateral: The home, or type of home, that you would like to purchase
Credit: Your history of paying bills and other debts on time

While there are still many additional steps you’ll need to take in the home buying process, it’s clear why pre-approval is always the best place to begin. It’s your chance to gain the competitive edge you may need if you’re serious about owning a home.

Bottom Line

Getting started with pre-approval is a great way to begin the home buying journey. Reach out to a local real estate professional today to make sure you’re on the fastest path to home ownership.

Pre-approval is critical to buying your new home, especially
in Palm Beach County, Martin County and St. Lucie County.

How the Housing Market Benefits with Uncertainty in the World

Fri, 06 Mar 2020 16:20:14 GMT

How the Housing Market Benefits with Uncertainty in the World

It’s hard to listen to today’s news without hearing about the uncertainty surrounding global markets, the spread of the coronavirus, and tensions in the Middle East, just to name a few. These concerns have caused some to question their investment plans going forward. As an example, in Vanguard’s Global Outlook for 2020, the fund explains,

“Slowing global growth and elevated uncertainty create a fragile backdrop for markets in 2020 and beyond.”

Is there a silver lining to this cloud of doubt?

Some worry this could cause concern for the U.S. housing market. The uncertainty, however, may actually mean good news for real estate.

Mark Fleming, Chief Economist at First American, discussed the situation in a recent report,

“Global events and uncertainty…impact the U.S. economy, and more specifically, the U.S. housing market…U.S. bonds, backed by the full faith and credit of the U.S. government, are widely considered the safest investments in the world. When global investors sense increased uncertainty, there is a ‘flight to safety’ in U.S. Treasury bonds, which causes their price to go up, and their yield to go down.”

Last week, in a HousingWire article, Kathleen Howley reaffirmed Fleming’s point,

“The death toll from the Coronavirus already has passed Severe Acute Respiratory Syndrome, or SARS, that bruised the world’s economy in 2003…That’s making investors around the world anxious, and when they get anxious, they tend to sell off stocks and seek the safe haven of U.S. bonds. An increase in competition for bonds means investors, including the people who buy mortgage-backed bonds, have to take lower yields. That translates into lower mortgage rates.”

The yield from treasury bonds is the rate investors receive when they purchase the bond. Historically, when the treasury rate moves up or down, the 30-year mortgage rate follows. Here’s a powerful graph showing the relationship between the two over the last 48 years:

How might concerns about global challenges impact the housing market in 2020? Fleming explains,

“Even a small change in the 10-year Treasury due to increased uncertainty, let’s say a slight drop to 1.6 percent, would imply a 30-year, fixed mortgage rate as low as 3.3 percent. Assuming no change in household income, that would mean a house-buying power gain of $21,000, a five percent increase.”

Bottom Line

For a multitude of reasons, 2020 could be a challenging year. It seems, however, real estate will do just fine. As Fleming concluded in his report:

“Amid uncertainty, the house-buying power of U.S. consumers can benefit significantly.”

The Housing Market Actually Benefits with Uncertainty in the World, Even Right Here in Palm Beach County, Martin County, and St. Lucie County.

10 Easy Steps to Buying a House

Fri, 06 Mar 2020 16:17:33 GMT

Ten Easy Steps To Buying A House

You’ve crunched the numbers, thought about your lifestyle and made the decision to buy a home. It can be a complicated, stressful process. But knowing what to expect can reduce some of that anxiety and help you confidently find your way to your new home.

To help, here’s a step-by-step guide to the home-buying process. You could swap the order of a few early steps – you can get pre-approved before finding an agent, for example. But you don’t want to find the perfect place first, only to have a better-prepared buyer swoop in and snag it.

Step 1: Check your credit report and score

Before contacting a lender , it’s smart to check your credit report . By law, you can get a free report once a year through Annualcreditreport.com . The report pulls data from the three major credit-reporting agencies: Equifax, TransUnion and Experian. Having the information in hand before you talk with a lender lets you dispute any errors in the reporting. Based on your credit report, Fair Isaac & Co. (FICO) assigns you a credit score ranging from 350 to 850. The higher your credit score, the lower the interest rate on your mortgage. Scores are based on:

• Payment history: Have you paid your bills on time?

• Amounts owed: What is your overall debt?

• Length of credit history: How long have you been borrowing money? Mortgage lenders like to see a long credit history.

• New credit: Have you applied for new credit?

• Types of credit: Lenders like to see a variety of types such as bank cards, car loans and student loans.

So what is a good credit score? You can expect a good mortgage rate at anything above 720. Home buyers who pursue an FHA loan can usually secure a loan if their credit is 580 or over. FICO scores are available at www.myfico.com for a one-time or monthly fee. Once you know your score, you can find out what interest rate you will likely qualify for by researching interest rates on Zillow.

Step 2: Figure out how much you can afford

Or better yet, decide how much you’re willing to pay. Just because you can qualify for a larger mortgage doesn’t mean you want to have that kind of payment each month. Use the mortgage affordability calculator to help determine what you can afford. Now is also a good time to research your housing market and start going to open houses in your prospective neighborhood to give you a good sense of what your money will get you. Don't just trust Zillow or other real estate websites to give you an accurate value of your home, because they all vary tremendously, and none of them are actually correct. This is where your REALTOR comes into play, since they have more experience, better tools, and current knowledge of your specific area to provide you an exact home valuation.

Step 3: Find a real estate agent

This person will be your lifeline through the process. Not so long ago, people didn’t have much to go on when selecting an agent. A postcard in the mail or a name on a sign might have been all you had to consider if you didn’t have a personal referral. But now it’s a breeze to check reviews online. Go ahead and meet with a few agents and ask some questions. Your agent is your chief advocate, confidante and hand-holder in the process so you want to find a good fit.

Step 4: Get pre-approved by a lender

It’s a smart move to get pre-approved for a loan early in your home search. Zillow has an easy-to-use tool that lets you find a licensed lender in your area with a history of positive customer ratings, who can help you get pre-approved .

Pre-approval requires the lender to pull the credit information (see Step 1) and assess your financial situation. The lender will then give you a letter that states the amount they would be willing to lend you. If you get in a multiple-offer scenario, being pre-approved may give you an edge because the seller will have more confidence that you will be approved for a loan large enough to purchase their home.

You are not obligated to get a loan from the lender who you get a mortgage pre-approval from. When it’s time to officially apply for a mortgage, it’s best to get loan estimates from at least three lenders to compare their interest rates and fees.

Step 5: Start looking at homes

Let the serious shopping begin! By now you’ve talked things over with your agent and you both know what you really want and need in a home . Armed with this, your price range and knowledge of the local area, look at listings online and with your agent, who will come up with properties for you to tour. Chances are you’ll discover some new things to love or hate about homes and refine your search.

Step 6: Make an offer

For most buyers, this is when the butterflies really show up. Once you’ve found a home you want your agent will work with you to craft an offer. Remember, the listing price is only a starting point. Your agent will understand the market and help guide you to make the most attractive offer, whether it’s below, at or above listing price. Are there any contingencies to your offer? Will you require an inspection? These are all things your agent will help you with. Once you’ve submitted the offer you get to wait. It will seem interminable. You may get neither a simple yes or no but a counteroffer to consider. It can be something of a dance. If you get a solid “no,” it’s back to Step 5. If you get to a “yes,” celebrate!

Step 7: Home inspection day

If your offer called for a home inspection, this is a big day. Sure, you get to have a home inspector look over the home to make sure there are no unseen defects you want to negotiate to have fixed. But more importantly, this is the most time you’ll get to spend in your new home until closing. Go ahead and start measuring things and figuring out what goes where. This may be the last time you are inside the home until it is yours, several weeks from now.

Step 8: Get insurance and establish utilities

If you already own a home, simply call your insurance agent and let them know you’re buying a new home. They will handle writing a new policy. If you don’t have an insurance agent, now’s the time to find one because your lender will require homeowners insurance . Even if you don’t have a mortgage, insurance is a critical part of protecting your investment. You’ll also want to give utility companies your move-in date to establish service. There’s nothing like moving into a cold, dark house because you didn’t get an account with the power company!

Step 9: Closing day

This is the big day . You’ll read and sign papers and then read and sign some more. Even though you’re just sitting around a table, it can be exhausting. But it also means you’re nearing the finish line.

Step 10: Get the keys and move in!

This is it. You did it! You are now a homeowner! Your sale contract will specify exactly how soon you get to move in. Sometimes it’s by a certain time on the day you sign closing papers. Sometimes possession happens a few days after closing. Whenever it is, you’ve just ended the adventure of home buying and started the adventure of home ownership.

Buying real estate can be easy if you have a good solid plan.

Florida Home Sales can help you find or sell your next home.

Thinking of Selling Your Home? Now May Be the Time.

Wed, 04 Mar 2020 18:07:10 GMT

Thinking of Selling Your Home? Now May Be the BEST Time.

The housing market has started off much stronger this year than it did last year. Lower mortgage interest rates have been a driving factor in that change. The average 30-year rate in 2019, according to Freddie Mac, was 3.94%. Today that rate is closer to 3.5%.

The Census Bureau also just reported the highest home ownership rate since 2014 for people under 35. This is evidence that owning their own home is becoming more important to Millennials as they reach the age where marriage and children are part of their lives.

According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is strong. That’s not the case, however, with seller demand, which remains weak throughout most of the nation. Here’s a breakdown by state:

Demand for housing is high, but supply is extremely low. NAR also just reported that the actual number of homes currently for sale stands at 1.42 million, which is one of the lowest totals in almost three decades. Additionally, the ratio of homes for sale to the number purchased currently stands at 3.1 months of inventory. In a normal market, that number would be nearly double that at 6.0 months of inventory.

What does this mean for buyers and sellers?

Buyers need to remain patient in the search process. At the same time, buyers must be ready to act immediately once they find the right home.

Sellers may not want to wait until spring to put their houses on the market. With demand so high and supply so low, now is the perfect time to sell your house for the greatest dollar value and the least hassle.

Bottom Line

The real estate market is entering the year like a lion. There’s no indication it will lose that roar, assuming inventory continues to come to market.

Thinking of Selling Your Home in South Florida? Now May Be the BEST Time, especially in St. Lucie County, Martin County and Palm Beach County!

The Overlooked Financial Advantages of Home Ownership

Wed, 04 Mar 2020 15:23:10 GMT

The Overlooked Financial Advantages of Homeownership

There are many clear financial benefits to owning a home: increasing equity, building net worth, growing appreciation, and more. If you’re a renter, it’s never too early to make a plan for how homeownership can propel you toward a stronger future. Here’s a dive into three often-overlooked financial benefits of homeownership and how preparing for them now can steer you in the direction of greater stability, savings, and predictability.

1. You Won’t Always Have a Monthly Housing Payment

According to a recent article by the National Association of Realtors (NAR):

“If you’ve been a lifelong renter, this may sound like a foreign concept, but believe it or not, one day you won’t have a monthly housing payment. Unlike renting, you will eventually pay off your mortgage and your monthly payments will be funding other (possibly more fun) things.”

As a homeowner, someday you can eliminate the monthly payment you make on your house. That’s a huge win and a big factor in how home ownership can drive stability and savings in your life. As soon as you buy a home, your monthly housing costs will begin to work for you as forced savings, coming in the form of equity. As you build equity and grow your net worth, you can continue to reinvest those savings into your future, maybe even by buying that next dream home. The possibilities are truly endless.

2. Homeownership Is a Tax Break

One thing people who have never owned a home don’t always think about are the tax advantages of home ownership. The same piece states:

“Both the interest and property tax portion of your mortgage is a tax deduction. As long as the balance of your mortgage is less than the total price of your home, the interest is 100% deductible on your tax return.”

Whether you’re living in your first home or your fifth, it’s a huge financial advantage to have some tax relief tied to the interest you pay each year. It’s one thing you definitely don’t get when you’re renting. Be sure to work with a tax professional to get the best possible benefits on your annual return.

3. Monthly Housing Costs Are Predictable

A third item noted in the article is how monthly costs become more predictable with home ownership:

“As a homeowner, your monthly costs are most likely based on a fixed-rate mortgage, which allows you to budget your finances over a long period of time, unlike the unpredictability of renting.”

With a mortgage, you can keep your monthly housing costs steady and predictable. Rental prices have been skyrocketing since 2012, and with today’s low mortgage rates, it’s a great time to get more for your money when purchasing a home. If you want to lock-in your monthly payment at a low rate and have a solid understanding of what you’re going to spend in your mortgage payment each month, buying a home may be your best bet.

The Bottom Line...

If you’re ready to start feeling the benefits of stability, savings, and predictability that come with owning a home, reach out to a local real estate professional to determine if buying a home sooner rather than later is right for you.

Contact us for more information, or call us for immediate assistance any time

Looking to buy or sell a home in south Florida? Contact us to help you in
St. Lucie County, Martin County or Palm Beach County.

Pace of prices is cooling down

Tue, 12 Mar 2019 15:57:40 GMT

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When looking for homes to buy or sell in Palm Beach County & Martin County, Florida Home Sales can help you sell for top dollar and find your ultimate dream home.

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When looking for homes to buy or sell in Palm Beach County & Martin County, Florida Home Sales can help you sell for top dollar and find your ultimate dream home.

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call the experts at Florida Home Sales at 561-213-9494

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in Palm Beach County, Martin County and St. Lucie County.

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Florida Home Sales can help you find or sell your next home.

Looking to buy or sell a home in south Florida? Contact us to help you in
St. Lucie County, Martin County or Palm Beach County.