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residential real estate Archives

What to think about before living in a new neighborhood

Information about neighborhoods can be limited when shopping for a home. Generally speaking, real estate agents in Florida and elsewhere are only allowed to talk about the houses themselves. Saying too much about the neighborhood itself may violate the Fair Housing Act. However, it may be possible to learn about how safe an area is by looking up crime statistics online. It may also be possible to learn more about local school districts online as well.

Considerations before buying in a new development

New real estate developments offer some advantages to home buyers in Florida. They promise the buyer a brand new home, that no one else has lived in, in a neighborhood specifically-designed to provide everything the homebuyer needs. Typically, developers begin selling homes in new developments between 12 and 24 months before the anticipated move-in date, though, so some timeline planning is usually required.

Getting ready to buy a home

There are certain things Florida residents can do to improve their chances of being able to purchase a home in an area that has a high cost of living. Taking these steps as well as preparing carefully and avoiding expensive mistakes can be factors in getting an ideal rate for a mortgage.

The true value of a home may be surprising

It is well understood that real estate is a cyclical market. Prices rise and fall, typically with a long-term upward trend in Florida, based on a number of factors. One common thread in every type of market is that for the vast majority of individuals and families, their home is their single most valuable asset. While understanding the true value of their home is simply a curiosity and informational for many people, for others, it is an integral part of their long-term plan for financial security.

Here's what home sellers need to know

Homeowners in Florida who are ready to move have a lot to handle. Not only do they need to find a new house, but they need to sell their old one as well. Selling a house requires planning, preparation and proper execution. With the right tools, any homeowner can sell a house, but there are a few things any seller needs to keep in mind.

A lien on a Florida property can delay or prevent a sale

A lien is a claim on a property that's used as collateral for a dept. Examples of debts include funds borrowed for purchase, payment of obligations or performance of services. For example, a mortgage is a type of lien. It is widely understood that when selling a property encumbered by a mortgage, the mortgage lien must be removed by the satisfaction of the loan obligation before title can pass to the new owner.

The benefits of selling a home in autumn

Florida homeowners who are thinking about selling their homes in the near future may be best served by doing so during the fall months. Although there may be fewer buyers in autumn compared to other seasons, those who are in the market are generally serious about making an offer. The Federal Reserve is planning on raising rates between fall 2018 and spring 2019, which may make it less expensive for buyers to obtain a loan now.

Accounting for a home's true cost

Buying a home in Florida can help a person obtain a higher net worth. However, buying a home that is too expensive can result in financial difficulties for an individual. Therefore, it is important that a buyer understand how much he or she can afford to spend on a home purchase. Ideally, buyers will create a housing budget based on their own criteria as opposed to relying on a lender's opinion.

Buyers widening their search for affordable homes

In many Florida cities and those throughout the country, demand for homes has been much greater than the supply of properties available. This has contributed to a 50 percent increase in housing prices since 2011. As a result, homes in midsize cities, such as Kansas City and Charlotte, have become too expensive for some buyers. Although people still want to live there, higher prices and dwindling supplies have caused sales to slow.

How to be a smart buyer in a seller's market

Those looking to buy homes in Florida may find it challenging to find success in a seller's market. However, there are ways that buyers can level the playing field somewhat when it comes to finding a home at the right price. In some cases, this may mean expanding their search outside of their preferred neighborhoods. Buyers are also encouraged to work with a real estate agent who can act as an advocate throughout the buying process.

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