Real Estate Information

When you are ready to sell your Highlands County home, it must be prepared to sell BEFORE putting it on the market. The current real estate market and sluggish economy had made the competition tough but many sellers are successful if they  do their homework. work.

Location continues to be a very important criteria for success. It enhances the demand and desirability. Successful sellers tend to have the perfect “recipe” of exceptionally good pricing, extremely good condition and presentation and professional marketing.

Another option to consider is to hiring a home stager, which is an accredited professional who is trained to assist homeowners in getting their home in tip top show room condition. I can recommend someone for this as well.  This is a service that many agents provide to their prospective clients. 

To arrange a time to meet or for a recommendation to a local home stager, please feel to contact me by email or phone. 

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Make plans to go back in time and learn how pioneers lived! This exciting event runs from March 2^nd through March 6^th,  Zolfo Springs

The Florida Frontiersmen will be conducting daily demonstrations on Pioneer living at its best. Activities will include dutch oven cooking, wood burning, basket weaving, pioneer toys, how to make and play a native American flute, wood burning and several other 1800s era activities.

There will be a flea market area where 491 flea market booths that sell items from old tools to arts and crafts. All this wonderful family entertainment and taking a stroll down memory lane for the low cost of $2.00 daily admission or $5.00 for the weekly pass.  For more information visit http://www.hardeecounty.net/ or call 863-773-2161.    

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In a buyers market you want to do everything you can to get your home sold quickly and for top dollar.  The good news is that you don't need to spend thousands of dollars on renovations and improvements to get your home noticed. There are several things you can do on a budget to help your home sell faster.

The first step is to clear out excess clutter. If you have already planned to sell your home, start making some necessary preparations. Start by removing all knick knacks and large decorative fixtures. You want the potential home buyer to see the potential in your home not your decorative collections. Excess clutter can make your home feel smaller as well as make buyers feel uncomfortable and you want them to picture themselves living in your home.

Eliminate odors! The smell of animals, musty smells or even strong cleaning agents will leave a bad impression on buyers. You want the home to be clean but not smell like cleaning chemicals or even strong air fresheners. Do a throughout cleaning and burn a simple candle like vanilla to give the home a comfy and clean aromatic environment.

Some studies have shown that most of the buyers look for homes that are ready to move in. Make sure to fix all the damaged areas of the house from both small and large problems. Even a broken door handle can leave buyers wondering if there are more issues that may be lurking. Touch up all old and peeling paint, fix all leaky faucets and have the carpets cleaned. Small touches can make a big difference.

While selling your home, it is important that every room must be able to display what is expected of it. For example, your dining room should be shown as a dining room, so it should contain some dining tables and a few chairs. If you have been using it for a make shift office or storage it can turn off buyers. 

If you have just purchased a new home or are going to be buying a new home in the near future, you may want to look into a home warranty.  A home warranty guarantees the property when mechanical systems such as plumbing, electrical, heating and installed appliances fail to work. This type of warranty is a good idea and one that would benefit many first time buyers

The price of a Home warranty  can vary but they are normally inexpensive usually ranging from $250 to $600 annually, depending on the coverage you choose.  Each company will have their own different policies and requirements but most tend to operate the same way.  For example, if an appliance or item covered breaks or stops working, the home owner just calls the home warranty company. The home warranty company  then calls a provider with which it has an arrangement and they contact the homeowner to come out to fix the problem. Typically if the problem can be fixed per the contract coverage than the warranty pays the contractor directly.

Each company is different in what items they cover but below are some typical systems and appliacnces that are covered and what are not typically considered to be included.

 Typically Covered

• Air conditioner system/ Furnace / heating
• Dishwashers
• Doorbells
• Water heater
• Garbage disposals
• Inside plumbing stoppages
• Ceiling fans
• Electrical systems
• Range and oven

Typically not covered

• Outdoor items such as sprinklers, or pool filters/spa systems
• Not all plans pay for refrigerators, washers & dryers or garage door openers
• Spa or pools, unless specific coverage requested

Keep in mind that pre-existing conditions are not covered. The home warranty company will start with a clean sheet and they require the home owner to fix any pre-existing issues before the new policy becomes effective. It is a good idea to get the home inspection done before you sign the contract so that you have proof if necessary.

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The SFCC Foundation Inc and Bill Jarrett Ford Mercury are sponsoring the second annual SFCC Panther 5K Run/Walk on Saturday February 26^th at the South Florida Community College Highlands Campus.  Proceeds will benefit the college’s intercollegiate athletics program.

Entry fees are $25 and students with current I.D. may register for $15.  Every participant receives a Dri-Fit long-sleeve shirt.

Registration is 7-7:45 AM on race day in the SFCC Panther Gym at 600 West College Drive in Avon Park. The race begins at 8AM on a route that travels past the SFCC Theatre for the Performing Arts and the Tower of Enlightenment, around the Health and Science Education Center, past the SFCC Public Service Academy, down to Memorial Drive, and then returns to its starting point.

Awards will be presented to the first three finishers in each age and gender category as well as Overall and Masters. For more information call 453-3133.

The weather is going to be great, come out and join!

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In today's real estate market every homeowner is asking the same question - What is the value of my home?  Maureen Cool of RE/MAX Plus in Highlands County, Florida says that this is probably the number 1 question a homeowner will ask.  Most homeowners are not sure how to determine the value is this unsettling real estate market.

Being informed and know what your home will sell for today will should be the first step in preparing to sell your home.  A home is worth what someone will pay for it. Everything else is an estimate of value. To determine a property's value, most people turn to either an appraisal or a comparative market analysis.

An appraisal is a certified appraiser's estimate amenities, energy efficiency, the quality of the of the value of a home at a given point in time. To make their determination, appraisers consider square footage, construction quality, design, floor plan, neighborhood and availability of transportation, shopping and schools. Appraisers also take lot size, topography, view and landscaping into account.

The list price is the price tag put on a house in a real estate listing; it usually is only an estimate of what the seller would like to get for the property. The sales price is the amount a property actually sells for. It may be the same as the listing price, or higher or lower, depending on how accurately the property was originally priced and on market conditions.

A seller may need to adjust the listing price if there have been no offers within the first few months of the property's listing period.

The appraisal value is a certified appraiser's estimate of the worth of a property, and is based on comparable sales, the condition of the property and numerous other factors. Lenders require appraisals as part of the loan application process; fees range from $200 to $300. Appraisers use several factors when estimating value including historical records, property performance, condition of the home and indices that forecast future value.

Market value is what price the house will bring at a given point in time. A comparative market analysis is an informal estimate of market value, based on sales of comparable properties, performed by a real estate agent or broker. Because brokers and agents are not state-certified appraisers, they may not perform appraisals in most states. Instead, they estimate the value of a property using a CMA.

You can do your own cost comparison by looking up recent sales of comparable properties in public records. These records are available at local recorder's or assessor's offices, through private companies or on the Internet. Neither of these services produce official appraisals. They also don't factor in market nuances or other issues a certified appraiser or real estate professional might in assessing the value of your home.

Buying a home can be confusing and can leave even seasoned buyers with questions. Below is some more information and clarification on the buying and selling process!

Settlement begins once you’ve signed a buyer’s purchase contract to sell your home. Settlement, or closing escrow, is the process of transferring ownership, title, of the home from seller to buyer.

The real estate agents involved in the sale often take care of these arrangements. But the buyer and seller are the ones ultimately responsible for making sure they are taken care of correctly. Here are the basics:

Buyer’s Responsibilities

     Buyer gets a loan.

The buyer must first secure the financing to buy the house. Usually this means taking out a mortgage loan. Most lenders require a complete financial picture, including income and expenses, and a credit check. In addition, most want an up-to-date appraisal of the home, a survey of the property and, often, some inspections (for pests, radon gas, flood plain, etc.). Some lenders specify which service providers they want the borrower to use. Once all the paperwork is in, the borrower should keep in touch with the lender until receiving a loan commitment.

Obtain homeowner’s insurance.

The buyer needs to purchase a hazard insurance policy in advance for the new home. The buyer is also required to purchase title insurance policy – usually at settlement – to protect the lender. If the buyer wishes to bring an attorney to settlement, arrangements should be made 30 to 60 days in advance.

Receive Good Faith Estimate.

A few days before settlement, the buyer should receive a Good Faith Estimate of settlement costs. In addition to the loan commitment letter, the buyer must bring a certified or cashier's check for the down payment and any other costs due at settlement. These costs include mortgage interest from the closing date to the first payment due, escrow for property taxes and insurance, and various taxes and recording fees.

 Seller's Responsibilities

     Select closing agent.

The seller typically designates the settlement agent, usually 30 to 60 days before closing. The seller and listing agent work together to arrange inspections and appraisals and to provide needed paperwork such as a housing plat map, previous title insurance information and any prior inspections.

     Give loan payoff notice.

The sellers also need to check with their lender to get up-to-date figures for the payoff of the mortgage, and to learn if any rebates are due for pre-paid taxes or insurance.

Joint Responsibilities

     Stay on top of details.

Both the buyer and seller need to give the settlement agent all pertinent information requested. And, since many long and detailed forms are usually signed at settlement, consider requesting copies of the basic settlement forms several days in advance to pre-read them if practical. The focus at the settlement table is on checking the exact figures to be sure they are accurate.

     Designate legal representative.

If either the buyers or sellers cannot come to closing, they should notify the settlement agent well in advance so a Power of Attorney form can be prepared. The person named on the form can act as the signer’s legal representative.

Once all the papers are signed and money paid, the keys are handed over to the buyer and the sale is complete.

Our professional experience can help you go to closing with extreme confidence. Call or e-mail us for more information on how to make the sale go smoothly.

Are you buying or selling? What questions do you have about this process?

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Check out this trombone duo Bill and John Allred this weekend as they play tribute to the trombone greats. 

Bill Allred is a former Disney and Rosie O’Grady musician and he leads the Bill Allred Classic Jazz Band and other projects making him the busiest trombonist on the jazz scene today.

Dave Steinmeyer was a musician in the US Air Force for 28 years, playing lead trombone with the world famous Airmen of Note. 

The quintet includes Jeff Phillips on keyboard, Charlie Silva on bass, and Eddie Metz Jr on the drums.

This performance, called Kai, J.J. and More, begins at 7:30pm on Saturday, February 19^th at the South Florida Community College of Performing Arts on 600 West College Drive in Avon Park. 

What's your favorite jazz tune?

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Though you may be willing to spend a certain amount, the real determination of how much house you can afford is driven by how much a lender calculates you can afford. So before you begin to search for the perfect house, it is very important to begin the home buying process by getting pre-approved. Getting pre-approved for a home mortgage loan will provide you with a preliminary statement on the size of loan for which you can qualify. Knowing this, you can then focus your home search.

In general, lenders allow your total monthly housing costs to go as high as but not more than 30 percent of your gross monthly income. The second requirement is that not more than 36 percent of your gross monthly income can be tied up in the total monthly house payment and payments on long-term debt.

Lenders use slightly different formulas for determining the "total monthly house payment.” These costs generally include the mortgage principal and interest payment, property taxes as a monthly sum, and hazard insurance as a monthly sum. These four items are referred to as PITI (principal, interest, taxes and insurance). Other costs may be included in this calculation if your down payment is less than 20 percent or if you are responsible for homeowner’s association dues. The calculations may vary from lender to lender, but will provide you with a gauge.

The Pre-approval Letter

Your friends and family may know you to be reliable, dependable and someone who pays bills on time, but all others in a real estate transaction will require you to prove it. That’s where preapproval comes in. A preapproval letter is more reliable than a pre-qualification letter. In the preapproval process, a lender will examine your finances and will make a preliminary statement on the size of the loan for which you’ll qualify.

Preapproval is an involved process. The lender will take all pertinent information regarding your finances and perform an extensive check on your current financial status. This procedure will ultimately give you the exact loan amount that you will be eligible for (depending on what type of loan you decide to select.) Being preapproved lets the seller know that you have gone through an extensive financial evaluation and there should be no unexpected obstacles to buying the home. It makes your offer much more powerful.

Preapproval gives you a very good indication of:

• How much down payment you’ll need

• Your closing costs

• Your monthly payment (including PITI: principal, interest, taxes and insurance)

• The type of loan for which you qualify and which best suits your needs; and,

• Special programs for which you may be qualified, including those for veterans, first-time buyers, teachers, etc.

• To become pre-approved you will need to provide a lender with the following:

• Your employment and income history (including recent pay stubs)

• Your monthly debts

• The amount and source of cash available for the down payment and closing costs

Pre-approval letters are not binding on the lender, they are subject to an appraisal of the home you want to purchase and are time sensitive. If your financial situation changes, interest rates rise or a pre-determined date passes, the lender will review your situation and recalculate your maximum mortgage amount accordingly. You can research lenders yourself and ask them to pre-approve you.

The big day has finally come. Inspections have been completed, homeowner's insurance is in place, and an hour before closing, you do the final walk though of the home of your dreams. Now, you sit at the closing table. You are nervous as you look at the stack of papers to sign and then finally the last signature is complete. The keys are given to you and the home is finally yours!

You may have depleted some or all of your savings in the home buying process. There is so much more you want to do now that you are moved in. It is easy to do more than you can afford or budgeted for. Don't be tempted. Before you make this mistake, here are some easy tips to help you build your savings back up.

1. Your first priority should be to rebuild your emergency savings. Homeownership brings unexpected expenses. Fund should be available to take care of the unexpected. This is more important than updating or redecorating your new home.

2. Do make a list of the updating and decorating you want to do. It is tempting to buy new things for your home. But, spend only the money you have budgeted. It is easy to splurge and charge lots of pretty things. Don't be tempted.

3. Keep your great credit score that made it possible for you to buy your home. Automate your payments. Late payments are more damaging to your credit now than ever before.

4. Keep good records of your home, especially repairs, replacements and warranties. Your HUD statement from closing may be needed at tax time for tax deductions. It is easier to keep good records than trying to reconstruct your deductions at tax time.

5. Don't forget to file for Homestead Exemption. The deadline for filing is March 1.

6. You may have gotten a great deal on your new home. But, in this crazy market, home values could still decrease. In the Fall when the new tax values notices are mailed, you will have a window of opportunity to appeal the tax value of your home. If you ever have a question about the tax value of your home, contact me at http://www.mysebringhomevalue.com.

Remember, I have a many service professionals that can help you with improvements and updating for your home. In addition if you need a list of professional for taxes, insurance or other services, please call me anytime for recommendations.

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