August-September 2015 Real Esate update by Ed Poirier & Rubin Wites
Conflicting Fed commentary about the timing of policy rate changes have created some rate volatility. Overall, remarks still point to a 2015 hike but uch later in theyear
Parkland, Florida and North Borward and South Palm Beaches Inventory is lower than expected but prices are holding stable.
Two important measures point to inflation below the Fed’s 2% goal for the 38th straight month. This supported a delay in policy rate hikes.
June’s spending on the private construction of single-family homes dropped slightly from May but was still a healthy 12.8% over last year.
There’s an episode of the TV series “How I Met Your Mother” where the characters decide to buy a home only to learn later that it sits downwind from a sewer plant. The message is obvious: A buyer must do his or her due diligence on prospective neighborhoods to avoid those kinds of mistakes. Here are a few tips:
Investigate the surrounding area:Good schools boost your property value. Research the closest parks and community centers and consider how busy streets impact the neighborhood. Check out stores and restaurants in the area. You may be used to a 5-minute drive to the grocery store, only to find out that your new home is 25 minutes away from the nearest place to buy milk.
Get to know prospective neighbors: Walk through the area and say hello to people. Ask them for their impressions of the neighborhood. While you’re at it, look around. Are there lots of kids on the block? Do people walk or jog through the neighborhood at night? A neighborhood can speak volumes by itself.
We also like to shop at the local publix or grocery stor oe Wall Mart, etyc.
Research the Homeowner’s Association: What are the regular fees? Are there lawn or construction restrictions? Knowing these things can really make an impact. leaplotkin@gmail.com
A good real estate agent can furnish you with a wealth of local information and take you on a tour of the closest commerce centers, restaurants and shops. A little groundwork will help ensure that your dream house is surrounded by a dream neighborhood. We as seasoned localrealtors have lived here and brought our kids up here know the area. Call us we can help. 954-8028451 oremailleaplotkin@gmail.com
HOMESELLING TIPS
Staging your home with kids around
Homeowners with young children face a common challenge when their house is on the market: How do you keep the home clean and ready for prospective buyers? Keeping that “staged look” as the kids create instant messes can be overwhelming. Children’s bedrooms are the worst when getting a home ready to sell—toys, clothes and activities.
Limit the number of toys and activities that children play with each week and adding and subtracting as the kids get bored.
Pack away extra toys, stuffed animals and books.
Organize remaining toys neatly in baskets, boxes and bins and display only a few items on shelves.
For those with infants, keep your nursery tidy by storing all extra diapers, wipes, lotions, baby bottles and clothes in a dresser or nearby closet.
Emptying the diaper pail frequently will help ensure that the room smells fresh and clean.
Removing furniture that doesn’t serve a purpose can help the room appear larger.
Having kids share rooms allows you to set up the unoccupied room as a guest room or home office, adding extra value to your home.
Once your current home sells, the new home will provide your kids with exciting new adventures. If that doesn’t make them more cooperative in helping keep the place, then there’s always plan B: bribe them with ice cream, outside!
Consumers often find ample value in distressed homes – properties that are under a foreclosure order or up for short sale. In many cases, “distressed” speaks more to the condition of the home than their recent financial histories. They may have been empty for extended periods and subject to vandalism and theft.
If you are considering a home in need of renovation, you should consider a 203k mortgage. It would allow you to finance both the acquisition and rehabilitation with a single loan. There are two types of 203k loans:
203k Streamline: This is the most popular. The maximum allowable in repairs is $35,000 and does not allow any structural repairs to be done to the home (unless they’re a result of an unforeseen circumstance).
Full 203k: Allows for structural repairs and can exceed the $35,000 in home repairs. Both types allow up to $1,500 in swimming pool repairs.
Some important 203k facts:
Since it is based on the home’s potential value after repairs (not its existing value), you can be approved for a higher loan amount.
They carry long-term-fixed rates.
They’re insured as soon as they fund.
They include escrow accounts for the scheduled repairs.
Loan amounts are capped according to local FHA limits.
Only owner-occupied properties of one to four units qualify.
us our new MLS search to search oput your new neighborhood.
Our new MLS is available to our clients through a portal . feel free to use the Map to outline your area then use the tools to help you search the ML:S on your own.
This is up to date information so if it not truly active it will not be listed on your portal.
Lea & Rubin are always here to help you . Just call email or text us.
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