Townhomes
Thursday, April 21st, 2011
Doing a deal that should be simple, could be simple, would be simple, IF ONLY…….
If only the listing agent would have confirmed the maintenance fee with the assoication.
If only the listing agent would have placed in the MLS the mandatory 6 month escrow of maintenance fees.
Now this listing agent is pleasant, responsive and other than these two little issues, has been a pleasure to work with. I also, would work with her again.
If only, I asked her to confirm all of thee above.
This is how we become better agents by asking the “if only” questions.
Posted in Apartments, Appraisal, Builders, Buy a House, Coconut Creek Homes, Commercial Real Estate, Community, Condos, Coral Springs Real Estate, Deerfield Beach Real Estate, First Time Home Buyers, Foreclosures, Home Builders, Homes, Homes for Sale, Housing Market, Luxury Homes, MLS, Mortgages, Neighborhood, Pompano Beach Real Estate, Property, Property Investment, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Rent, Townhomes | No Comments »
Thursday, January 27th, 2011
A Happy Place
The final “P” in the homeownership process is “Patience” You have to have patience with the mortgage process, the home search process, and the closing process.
The Mortgage Process-
When you apply for your mortgage, your lender will request documents from you to determine your qualification. Once you find your home, you will be required to submit these documents again and additional documents as well. Your patience comes into play, because they will ask you the same questions several different ways. Your patience comes into play when you call or e-mail the lender and they may not respond in a time acceptable to you.
The Home Search Process-
You know how much you can spend, you’ve assessed what your needs and wants in a home are, you may have even researched neighborhoods, schools, and other criteria for your home search. Now your ready to go shopping for your new home. You’ve given your REALTOR a list of properties you want to see, and you can only see two out of six because, the property is already under contract, seller’s not accommodating with showing of their home, etc. Patience! Your new home awaits you.
Now you’ve found the home you’ve submitted an offer and once again you have to have patience. If the property is a foreclosure it may take a week to get a reply to your offer. “Patience”. If the property is a short sale it may take months to get a reply from the bank regarding the sale. Then there is also the possiblity of multiple offers on the property. Now this requires patience and preparedness because once you have determined what the property is worth to you supported by Comparable Market Analysis (CMA) from your REALTOR do not get caught up in the frenzy and agree to pay more than what you are comfortable with or what the home is really worth. (The bank will have an appraisal done that you will pay for. If the property does not appraise, the seller may go with another offer and you have now waited time and money) Remember, your new home awaits you.
The Closing Process-
Once you have your fully executed contract (signatures & initials of all parties) the fun begins. You have to schedule inspections, meet with your lender to do a “formal” mortgage loan application, provide information to the title company, and may have to apply for condo or homeowners association approval as well. All of this must take place within 30 to 45 days, while you continue to maintain your regularly scheduled life. The bank has more forms for you to sign and more documents for you to submit, now the condo or the homeowners association, wants information and documentation from you as well as the title company.
Now you are ready to close, now you have to wait (patience) to know exact cash to close you will need. You dash to your bank get a cashiers check or wire funds. At the closing table you are signing so many documents at one time. Why? Because your patience paid off and now your a home owner!
Next blog…home ownership education classes, and grant programs to assist with frst time homebuyers.
Tags: FHA, first time homebuyer, Foreclosure, short sale
Posted in Apartments, Builders, Buy a House, Coconut Creek Homes, Commercial Real Estate, Community, Condos, Coral Springs Real Estate, Deerfield Beach Real Estate, First Time Home Buyers, Foreclosures, Home Builders, Homes, Homes for Sale, Housing Market, MLS, Mortgages, Neighborhood, Pompano Beach Real Estate, Property, Property Investment, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Rent, Townhomes | No Comments »
Tuesday, November 23rd, 2010
First I would like to thank God for making all things possible! I listed a property October 27, 2010, executed contract November 4, 2010. Sent paperwork to lender, GMAC, November 8, 2010 (contract and all seller required documents), was contacted by Kazork, guaranteed a response within 15 days of all documents being received by them. A little redundant, I had to submit all paperwork to Kazork that was sent to lender (no problem). There was a 7 day grace period that the offer had to submitted on kazork website, when the time pasted, they diligently contacted me. On November 15, 2010 they required updated buyer prequal letter, that I received from agent November 18, 2010 and sent to Kazork, the same day.
Yesterday, Monday, November 22, 2010 at 6:28PM, I received an e-mail on my iPhone (yes a plug for the iPhone) with the approval letter attached. Now, the seller, the buyer and all of us involved are looking forward to a Happy Thanksgiving, a smooth transaction, and hope for the short sale process!!!!
Tags: bank approved, buying home, pre-foreclosure, selling home, short sale
Posted in Apartments, Appraisal, Buy a House, Coconut Creek Homes, Community, Condos, Coral Springs Real Estate, Deerfield Beach Real Estate, Estate, First Time Home Buyers, Foreclosures, Homes, Homes for Sale, Housing Market, Luxury Homes, MLS, Mortgages, Neighborhood, Pompano Beach Real Estate, Property, Property Investment, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Townhomes | 1 Comment »
Tuesday, November 9th, 2010
I am doing a short sale through www.kazork.com, they are claiming a 15 day turnaround in a response to a short sale when all required documents and offers are received. I will keep you all informed of my progress.
They are currently working with Wells Fargo and GMAC on their FANNIE MAE short sales. The staff has been helpful, informative and responsive. When you call or e-mail they actually respond the same day or early the next business day, they are on the west coast.
I listed this short sale on October 29th, received a reasonable offer November 3rd, sumbitted the offer November 4th, BPO was done November 7th…..
Stay tuned…………
Posted in Buy a House, Coconut Creek Homes, Commercial Real Estate, Community, Condos, Coral Springs Real Estate, Deerfield Beach Real Estate, First Time Home Buyers, Foreclosures, Homes, Homes for Sale, Housing Market, Luxury Homes, MLS, Mortgages, Neighborhood, Pompano Beach Real Estate, Property, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Townhomes | 1 Comment »
Wednesday, October 20th, 2010
Beacon Economics: Housing most affordable in more than 40 years SAN FRANCISCO – Oct. 13, 2010 – Beacon Economics’ new Beacon Economics Home Affordability Index finds that in August homes were at their most affordable level since data became available (1969). Beacon Economics developed the Beacon Economics Home Affordability Index based on the percentage of income an average family would need in order to make mortgage payments on an average priced home.
The August estimate shows the cost of homeownership (mortgage interest plus principal payments after a 20 percent downpayment) falling to 16.9 percent from 17.1 percent in July. Overall, the Beacon Economics Home Affordability Index has remained below 20 percent for the past twenty-one months.
“Home affordability has reached an historic high,” says Beacon Economics Founding Principal Christopher Thornberg. “Nationwide, prices are down approximately 25 percent from their peak, and mortgage financing rates are at all-time lows.” Moreover, the high level of affordability is likely to drive demand and reduce the stock of excess inventory, ultimately resulting in the need for new housing, a rise in prices, and a pickup in new construction, according to Thornberg.
“While prices may fluctuate modestly over the next several months, we believe the worst of the housing crisis is behind us,” adds Beacon Economics Research Manager Jordan G. Levine. “We expect prices to stabilize around current levels and likely be higher in the next twelve months.”
Thornberg agrees. “Although there could be some modest volatility over the next several months, our research indicates the housing market is at or near the bottom,” he says.
The Beacon Economics Home Affordability Index is intended to help homebuyers and policymakers alike understand the current state of the market.
© 2010 Florida Realtors®
Posted in Apartments, Appraisal, Builders, Buy a House, Coconut Creek Homes, Community, Condos, Coral Springs Real Estate, Deerfield Beach Real Estate, First Time Home Buyers, Foreclosures, Home Builders, Home Improvement, Homes, Homes for Sale, Housing Market, MLS, Mortgages, Neighborhood, Pompano Beach Real Estate, Property, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Townhomes | No Comments »
Thursday, September 30th, 2010
College Scholarship Fundraiser
The Coral Springs Martin Luther King, Jr. Committee presents the Fourth Annual “Golfing for the King” Golf Classic, to be held on Friday, October 8th, 2010 at the beautiful Heron Bay Golf Club
11801 Heron Bay Boulevard, Coral Springs. Map
Registration begins at 7:30 a.m. and Shotgun begins at 8:30 a.m. Registration fee includes breakfast, one hour on the range, an awards luncheon, and beverages on the course.
This event will benefit the Martin Luther King, Jr. Scholarship Fund for needy Coral Springs high school students regardless of ethnicity. In past years through the Committee’s efforts, more than 100 high school seniors have received scholarships in varying amounts based primarily on financial need. The students will apply the scholarship money towards their tuition costs at a university or other educational institution of their choice. The scholarship is available to high school seniors who live in Coral Springs and attend one of the five high schools serving the city: J.P. Taravella High School, Coral Springs High School, Stoneman Douglas High School, Coral Springs Charter School and Coral Glades High School.
The purpose of the Scholarship Program is “to provide funds to needy, local students who, through their words and actions, embody the spirit of Dr. King’s teachings.” Although preference is given to students with financial need, attention is also given to the quality of community service performed by the applicants.
Since the scholarship program is entirely dependent upon the generous contributions of individuals and corporations, your donation to this cause is very important. All donations are tax-deductible as well. The fee to participate is $100.00 per person or $400.00 per foursome. There is a rain date of Friday, October 22, 2010.
To register for golf, or for sponsorship opportunities, download the brochure above or contact Carey Suissa at (954) 649-3839 or Joyce Campos at (954) 344-1005 or jcampos@coralsprings.org.
Posted in Apartments, Appraisal, Builders, Buy a House, Coconut Creek Homes, Commercial Real Estate, Community, Condos, Coral Springs Real Estate, Deerfield Beach Real Estate, Estate, First Time Home Buyers, Foreclosures, Home Builders, Home Improvement, Homes, Homes for Sale, Housing Market, Luxury Homes, MLS, Mortgages, Neighborhood, Property, Property Investment, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Rent, Townhomes, Uncategorized, Vacations | No Comments »
Thursday, September 30th, 2010
Welcome to Coral Springs
Coral Springs ranked best place to live in Florida
Money magazine published an article naming the 100 Best Places to Live across the nation and Coral Springs ranked first in the State of Florida and 44th on the overall list.
This is the second year Coral Springs has ranked as the number one city in Florida and the third year it made the top 100 list. For the current year, the cities were ranked on attributes including economic opportunity, income, job growth and affordability, quality of life, crime, quality of schools, arts and leisure, park space and stress-related ailments.
Money magazine highlighted Coral Springs’ array of leisure and sports facilities, including the Sportsplex, ice rinks, skate parks and more. In comparison to the Top 10 cities, Coral Springs offers a large selection of restaurants and is on par with its museum offerings.
Coral Springs was also rated highly on safety, and was recognized for its excellent public schools, racial diversity, attractive home prices and air quality index.
“It is very gratifying to be recognized as one of the best cities to live in the country as it signifies a mission accomplished in collaboration with our citizens. We are committed to being a Community of Excellence,” Mayor Scott J. Brook said.
The City of Coral Springs was the recipient of the Malcolm Baldrige National Quality Award in 2007 and is a two-time Governor’s Sterling Award winner for quality excellence. It was the first City of Excellence named by the Florida League of Cities and has also been identified as one of the 100 Best Communities for Young People by America’s Promise Alliance for Youth.
”We work diligently to align our resources with the expressed needs of our community and strive to provide the highest quality of goods and services to our customers at the most reasonable prices,” City Manager Michael S. Levinson said.
To see the full list from Money magazine, visit http://money.cnn.com/magazines/moneymag/bplive/2010/snapshots/PL1214400.html.
Tags: Coral Springs homes, Coral Springs Real Estate
Posted in Apartments, Appraisal, Builders, Buy a House, Commercial Real Estate, Community, Condos, Coral Springs Real Estate, First Time Home Buyers, Foreclosures, Home Builders, Homes, Homes for Sale, Housing Market, Luxury Homes, Neighborhood, Property, Property Investment, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Rent, Townhomes, Uncategorized | No Comments »
Wednesday, June 30th, 2010
In 2005 at the peak of the real estate market (when the bubble was the biggest) people were buying properties (single family homes, condos, land, etc) like they were day old bread. People from New York and other areas were buying homes and land in places that they knew nothing about. Just because the prices were lower than where they live, they assumed the deals were great. Everyone was going to flip a property and become millionaires overnight. Loans were easy to get, and people were not investing money, they were only investing their credit.
Developers and sellers figured they did not need Realtors and they proved it by selling directly to buyers. Well these buyers had no one to advise them on the value or lack of value in these investments.
Resulting in the today’s market, foreclosures and short sales are at an all time high. One of the reasons Floridians are most impacted because nationally we had a high precentage of investors that were purchasing our properties with little and no money down, it was easy for the investors to walk away from these properties.
Of course, all of what I am saying everyone knows, but the question is how much have we learned from this?
The developers that are still in business have learned they need Realtors to help them to sell their inventory. Most sellers are selling their properties using Realtors. Although, there are a few for sale by owner (FSBO) signs around. The problem is most people are not driving around looking for homes. They are utilizing the internet and going to the larger search engines (realtor.com, remax.com, etc.) to look for homes. The majority of FSBOs (for sale by owners) have consulted a Realtor but think their house is worth more than the Realtor is telling with documented proof.
Now, the buyers. The banks are not allowing buyers to buy what they can not afford. (great news) This market is like nothing we have every seen in my lifetime. Although, there is a surplus of properties for sale, it is not a true “buyers market” you can not offer 20% below the asking price and expect to purchase that property. While you are not being environmentally friend (wasting paper) and wasting time. Someone comes along and outbids you and sweep that property right from underneath your nose. Why, because most properties especially foreclosures are listed for the price the bank or seller is will to sell the property for.
The other mistake I see buyers make is they do not work exclusively with a Realtor to find a property, they call on every sign they see or the agent listed on the internet ad. The assumption is they will get a better deal if only one agent is involved. They do not consider the fact that the seller “hired” them to sell their home for the highest and best amount to benefit the seller. So will that Realtor insult their seller with an offer that will benefit the buyer more than the seller? I do not think so. In addition, do you think the seller’s agent is going to have to work both sides of the transaction at a reduced commission. I do not think so. (In 2005 yes, in 2010 NO).
Real estate is still one of the best investments in the world. Like any investments you make consult experienced professionals that you trust and provide you supporting documentation to what they are telling you.
Tags: Foreclosures, investments, real estate market
Posted in Buy a House, Coconut Creek Homes, Commercial Real Estate, Community, Condos, Coral Springs Real Estate, Deerfield Beach Real Estate, Estate, First Time Home Buyers, Foreclosures, Home Builders, Homes, Homes for Sale, Housing Market, Luxury Homes, MLS, Neighborhood, Pompano Beach Real Estate, Property, Property Investment, Questions and Answers, Real Estate, Real Estate Agent, Relocation, Rent, Townhomes | No Comments »
Tuesday, May 18th, 2010
When deciding to buy a home, there are several choices you have to make; location, amenitities, and type of home that fits your needs and your budget.
Location can be determined by preference, schools, distance to work and social activities, price, etc. Often once location is determined, you have to decide on the type of home you will purchase. For example, in Coral Springs condos are the least expensive homes to purchase, but is the most economical choice. Your other options are townhomes, villas, or single family homes> (Coral Springs does not have mobile home parks, there are other cities close by that do).
A Condo is usually an apartment style property, multiple stories, in which you own the condo unit and share the common areas with your neighbors. The condo community has different ammenities which usually impact the maintenance fee. The maintenance fee normally includes home owners insurance, common area maintenance, management fees, landscaping, maintaining of the structure of the buildings including but not limited to the roof.
A Townhouse is usally a two-story attached home with or without a garage within a Homeowner’s Association (HOA). HOA fee normally includes common area maintenance, and amenities. Some may cover homeowners insurance, but have this verified before you enter into a sales contract.
A Villa is similar to a townhouse except villas are one-story attached homes. Also, verify what the HOA fees cover before you enter into a sales contract.
A Single Family home is ususally a detached property that may or may not be in a Homeowners Association (HOA), please verify before you enter into a sales contract. Single Family Homes that are in a HOA have to adhere to the rules and regulations of the HOA including paying HOA fees.
Which should you purchase depends on your lifestyle. Many people purchase condos because of the affordablity, while others because of the minimal upkeep (no landscaping, pool service, etc..), the amenities, etc. For many who want the feel of a single family home but not necesarily all the exterior maintenance and other unshared expenses.
Ideally, everyone wants to own a house but sometimes the other alternatives may better suit your needs for your situation. So the condo may be your first home, it can help you to purchase that single family home in the future.
Remember, start somewhere because homeownership offers several opportunities that renting may not.
For more information in purchasing a home in the Coral Springs, Deerfield Beach, Pompano Beach areas please drop me an e-mail at gwen@gwenfullerteam.com
Don’t Make A Move Without Me!
Tags: Coconut Creek Homes, Coral Springs homes, first time homebuyer, Margate homes
Posted in Buy a House, Condos, Coral Springs Real Estate, Deerfield Beach Real Estate, First Time Home Buyers, Foreclosures, Homes, Homes for Sale, Pompano Beach Real Estate, Real Estate, Real Estate Agent, Relocation, Townhomes | No Comments »
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