Home Buying Wish Lists

Published by julia | Filed under Buyer / Seller Tips, Real Estate, Shout Outs

When potential home buyers start shopping, they usually do so based on a set of criteria that they want, or at least they think they want. Sometimes after buying, people find that their wish list of features did not add up to the house of their wishes.

Most people want basically the same thing in a house. A common wish list for first time buyers would include… about 1200 or 1300 square feet minimum built in the last few years, an open floor plan and cathedral ceilings. Big living room. They want a garage and a basement. Gotta have a first floor laundry. Master bathroom with a garden tub would be nice. Walk in closet in the master bedroom is a must. They would like a decent sized yard with some degree of privacy from neighbors. When they find it, they buy it and they love it.

Here’s what happens within a week of moving in. Both cars do not fit in the garage. Two cars cannot comfortably park next to each other in the driveway and when you step out of the car it is into the grass, the landscaping or the snow. There is no place to sort and fold clothes in that convenient first laundry off the kitchen. There is not enough cupboard space to house both food and dishes. As it turns out, there is barely room in the combined kitchen and dining room for a table. Where is the pantry? Where do the broom and the vacuum go? The space saving design and angle of the garden tub makes it hard to get in and out of and doesn’t have a ledge for soaps and candles. What looked like a huge closet has no shelves and not enough bar space for the clothes.

The savvy second time buyer would modify your wish list as follows. The driveway should be wider than the garage door. You want at the very least a 2 ½ car garage if not 3. A separate laundry room, not closet, where you have space to manage your clothes. His and her closets are best, and when analyzing the walk in closet, make sure you really can walk in and around a bit, not just straight in a couple steps and straight back. Imagine yourself actually using the master bathroom to make sure you can maneuver and that there is ample space for all your stuff. One of the biggest complaints of first time buyers is not enough cupboard space. Read the rest of this entry »

Getting Creative in a Tough Housing Market

Published by julia | Filed under Buyer / Seller Tips, Market Trends, Miscellaneous, Real Estate

You know, when things are doing the opposite of booming, it is easy to get bogged down by what’s going wrong.  That is true of life in general, not just real estate.  Here is an example of some folks putting their heads together and coming up with a plan to make things go right.

Realtor has two similar sellers.  Both are young families and both are on the verge of upgrading and bettering their situation.  Both will also become the Realtor’s buyers if they can ever get their houses sold.  Both sellers’ houses are gorgeous.

Seller Jim has a buying budget of mid 200,000s.  His house is listed for $140k, has many updates, a finished basement and a freeway running through his back yard.

Seller Bob has the most pristine house on the block.  Too bad the $40k steal is deep in a neighborhood of rentals where no one wants to buy.  His buying budget is $140-150k.

Both clients have fallen in love with, and lost, a few houses.  They both had potential buyers that fell through at the last minute.  Both clients have contemplated buying without selling and paying for two houses.  They both had the ability to do so but ultimately decided against it.  Until one day…

It occurred to the Realtor that although Jim wasn’t comfortable with the monthly payment of carrying the two mortgages of a new $250k house and the current $140k house, he might be comfortable carrying two mortgages equaling his $250k shopping budget.  Read the rest of this entry »

Housing Crisis Is Over - Wall Street Journal

Published by julia | Filed under Market Trends, Real Estate, Shout Outs

The dire headlines coming fast and furious in the financial and popular press suggest that the housing crisis is intensifying. Yet it is very likely that April 2008 will mark the bottom of the U.S. housing market. Yes, the housing market is bottoming right now.

How can this be? For starters, a bottom does not mean that prices are about to return to the heady days of 2005. That probably won’t happen for another 15 years. It just means that the trend is no longer getting worse, which is the critical factor.

Most people forget that the current housing bust is nearly three years old. Home sales peaked in July 2005. New home sales are down a staggering 63% from peak levels of 1.4 million. Housing starts have fallen more than 50% and, adjusted for population growth, are back to the trough levels of 1982.

Furthermore, residential construction is close to 15-year lows at 3.8% of GDP; by the fourth quarter of this year, it will probably hit the lowest level ever. So what’s going to stop the housing decline? Very simply, the same thing that caused the bust: affordability.

The boom made housing unaffordable for many American families, especially first-time home buyers. During the 1990s and early 2000s, it took 19% of average monthly income to service a conforming mortgage on the average home purchased. By 2005 and 2006, it was absorbing 25% of monthly income. Read the rest of this entry »

Celebrity Real Estate Cities

Published by julia | Filed under Celebrity Real Estate, Market Trends, Miscellaneous, Real Estate, Shout Outs

In years past, celebrities has chosen to keep their real estate ventures in the most popular of cities. From Los Angeles to New York City, celebrities can be found purchasing real estate for tens of millions of dollars without even a blink of the eye. But, this trend may soon change as lucrative real estate markets are popping up in the most unexpected of places.

Massachusetts, for instance, has recently been marked on the map as one of the most expensive places to purchase real estate. Charlestown, MA was once a fishing town, will low real estate values. Today, thanks to an underground section of the not so thriving Interstate 93, the land has become a real estate gold mine.

With property values in Charlestown, MA rising more than 300% since 1990, it will no doubt be very little time before the celebrities on the East coast are buying up this prime real estate and settling in for a great view of Boston.

Charlestown, MA is not the only relatively unknown town to see substantial increases in real estate values. Listed among the most lucrative of towns are the quiet little cities of Society Hill, PA, Wicker Park, IL, Minneapolis, MN and Grant Park, GA. Read the rest of this entry »

Florida Real Estate as Great Investments

Published by julia | Filed under Buyer / Seller Tips, Market Trends, Real Estate, Shout Outs

Nowadays, investing in real estate is one of the lucrative commercial sectors that will provide an investor large chances to produce cash with no trouble. It is a commercial entity that has very small threats or failures. This is measured that investing in real estate is very much gainful and favorable when assessed to divide with selling and buying cash or gold, silver, or even platinum. The national administration also offers investors with a lot of tax benefits such as exceptional reimbursements and discounts like Goods and Services Tax. This is one of the reasons why a lot of people engage in real estate investing lessons to somewhat well-versed in the real estate business and become a great investor. Informatively, this is the largest economic industry for most Americans, especially for residents in the Florida State.

Few of the desirable features of the State include the humid climate in most parts of the isthmus, and wide areas of beaches. It’s effortless to see a home with gardens and orchards, and especially affable next-door neighbors. Informatively, being the fourth most populated State, for more than fifteen million homeowners, their visions and dreams are a reality.

Presently, there are various paybacks when it comes to real estate investing. To cite an example, for a person who is the owner of a family business, he doesn’t need to have an office or any external facility. He can merely work right at his own home. Yet, he is entailed to do several home studies because he must need to know a lot regarding the real estate market, latest developments, credits and taxes to become a booming financier. Read the rest of this entry »

#1 Yes, You Are !!!!

Published by julia | Filed under Miscellaneous, Shout Outs

Number 1. Yes you are! Just a shout out to say our customers are #1. Numero uno. Primo especial. Thanks for all your support and continued encouragement. You, our customers are whom we value whole heartedly. This entire site is dedicated to all of you. Please let us know what we lack and we will improve on them.

The Tampa Real Estate is an ever changing market and filled with all sorts of deals for first time homebuyers, investors, and foreign nationals buying second homes in Florida both for pleasure and investment. We have the right connection and skills to find you what you want and make any deal happen. Although our site is filled with every research tool available in the market, just ask us what you’re looking for and we’ll send you the right package fitting your criteria. Every one is custom made to your needs. No “one-size fits all” packaging that you’ll get from most developers or brokerage. Our job is service and we make our service fast, reliable, and exact.

Thanks again for your continued support. We applaud you, our customers. You’re #1.

Vote for our blog at: http://fhamortgagecenter.com/contest/view.php?id=48

Many Faces of the Distressed Borrower

Published by julia | Filed under Buyer / Seller Tips, Market Trends, Miscellaneous, Real Estate, Shout Outs

As mortgage borrowers we have gotten ourselves into a pickle.  We bought over our heads and pushed the envelope of creativity when it came time to get a loan.  Accusatory fingers have been shaken at the loan officers but there are a lot of borrowers out there who inflated their stated income and provided fraudulent documents.  Let’s take a collective “tisk tisk” and look at how the distressed borrower continues to affect the housing market and everyone across the nation.

Have you seen some of these foreclosures?!  It is understandable that as a situation declines, ones means and motivation to keep up with things would also drop, leaving a house in run down condition needing “TLC”.  Then there are the other folks, the really angry ones that punch holes into walls and smash up otherwise good pieces of house.  This is really a shame.  I suppose the thought process is to get even with the bank and ensure that they cannot get their money back on the home.  In the bigger picture, though, the damage is not being done to the banks, but to the neighborhoods and… look around… our friends, neighbors, and the whole economy is suffering for it.  If more distressed borrowers had gracefully walked away from a house they could no longer afford and put all their energy into finding a solution and moving on, the result on the market would be decent homes left behind that could have been sold, our neighborhoods would be peppered with “SOLD” signs and the vibrancy of houses being painted and landscaping being planted, rather than season after season of stickers on windows of houses growing sicker and moldier. Chances are the result on the distressed borrower would be improved, as well, without dwelling on the negativity. Read the rest of this entry »

Creative Ways to Pay for Your First Home

Published by julia | Filed under Buyer / Seller Tips, Market Trends, Real Estate, Shout Outs

Are you looking to buy your first home, but you’re worried you won’t be able to afford it? Perhaps you’ve even looked into some ways to afford your first house, but you still can’t find one that suits your lifestyle and needs. But you don’t have to worry any longer. By using these creative 6 creative ways to finance your first home, you are sure to have enough money to buy a home that is right for you.

1. The primary thing that you should consider that could help you pay for your first home is the possibility of buying a house that requires minor renovations. Typically, houses that have a slightly outdated décor, or are in need of minor paint jobs or carpet replacement can sell for thousands less. So if you are prepared to invest some time and a slight amount of money, you should seriously consider buying a home that is in need of slight redecoration.

2. Another method that could help you afford your first home is to split the payment. You can do this in various ways, but the most popular, and convenient way is to rent part of your home to a tenant. This way, by sacrificing a small section of your home, you can eliminate a big part of the mortgage payment. Just make sure that you conduct proper interviews with potential tenants to ensure that they are trustworthy and are in a financial position to afford the payments.

3. Another interesting way to pay for your first home is to live in a privately owned neighbourhood. Usually, these neighbourhoods are owned by a single landlord and the prices of homes in these areas can be significantly smaller. When choosing this option, you should be prepared to be obligated to gather at community meetings as most of the decisions regarding the neighbourhood are established by everyone in the small community. Read the rest of this entry »

Choosing Effective Real Estate Websites

Published by julia | Filed under Buyer / Seller Tips, Market Trends, Real Estate, Shout Outs

Online transactions are really taking over. These days, almost all important transactions can be done online. You may bank through the Internet or even shop for whatever item you need. The real estate industry is never to be left out. You would find that almost all real estate companies and agents that matter can be found and located online.

Online real estate businesses may flourish. The competition for such is also intensifying. You would find that amid the influx of such sites, in the end, you would have a difficult time choosing the Website to choose and trust. There are many real estate Websites but not all of them can be useful and effective to you. It is important to at least gain insights as to how property Websites can be chosen and picked.

First of all, a good real estate Website is offering good and practical services to the online users. There are too many of such sites in the Internet, but as a mentioned, not all are useful and functional. Good real estate sites are always updated and are integrated with the latest news and developments in the market. There are sites that offer tickers and quotes to give buyers and investors a rundown of what to expect in the market.

Good real estate Websites are of course outlined strategically and comfortably. Simplicity is a virtue. Studies show that most real estate investors prefer the simple, yet effective layouts. Troublesome and too tight layouts of online sites make such Websites ineffective and less interesting. Just like in newspapers, if information are too packed and arranged without effective layouting and strategy, the data would render futile. Read the rest of this entry »

Real Estate in Today’s Volatile World: Mortgage and Investment Trends

Published by julia | Filed under Buyer / Seller Tips, Market Trends, Miscellaneous, Real Estate

The Investment Trend
When it comes to investment trends in the real estate industry, there are a lot to consider. Here are a couple of trends to look forward to:

According to recent real estate researches, facilities of financial bustle will change intensely - not just internationally, but also within the local sectors of a country or a big city. In Asia, for instance, its Gross Domestic Product will draw near towards that of Western Europe in the next twenty years. As an effect, investors should perceive an increasing stipulation for customer products as the people in these continents achieve more non-refundable income. As a venturing thought, marketing businesses with a commanding existence in Asia and shipping businesses that have a commanding existence in the sector and have international contacts will prosper more.

Public region behavior will inflate, creating efficiency growth to be most common. An unparalleled maturity of residents throughout the industrialized planet will name for novel heights of effectiveness and ingenuity from the civic regions. The stipulation for well-being and security in retirement will overpower a country’s capacity to hold up these services in dues. Established private regions looms will probably develop into persistence in the terms of communal services in both the structured and the budding nations.

The Mortgage Trend
Having a dwelling that you will call your own is indeed like heaven on earth. Read the rest of this entry »

Investing in a 2nd Home

Published by julia | Filed under Buyer / Seller Tips, Miscellaneous, Real Estate, Shout Outs

While for some, buying a home is a life changing event and big financial investment, surprisingly there is about one tenth of home owners that belong to the increasingly mobile upward class and look to invest in the real estate market beyond their first home. The attractive rates of interests, as well as, very strong home market scenarios and the larger incomes of this working class of people is prompting them to go for a second home.

Second home is a wealth building strategy for a majority of people. So, investing in these properties that might fetch some rental income could be a great deal in the long-term. In this case vacation homes are the best places of investment.

For those that are prompted to purchase a second home to use as a holiday retreat, looking to invest in vacation resorts or retreats is a beneficial task. They can be secluded or within a community and it is a personal choice as to which will best suit the interests of the buyer. Inquire about the prices of properties in secluded areas, as well as, crowded communities before making a final decision.

Purchasing a second home has never been so easy, thanks to federal laws. Having said so, one needs to make a smart decision. Approaching a real estate expert is not a bad idea as he can assist you on the financial as well, as technical considerations,of buying a second home.

If you have a plan of only investment, ask the expert for different options of property management. If you aim to have some standard rental income from your second home, location becomes very important. It is better to approach an expert in the place that you have decided to buy who knows the intricacies of the laws in that respective place. Read the rest of this entry »

Home Improvement on a Budget

Published by julia | Filed under Buyer / Seller Tips, Miscellaneous, Real Estate, Shout Outs

You can make improvements to your home without busting the bank. You can even make the improvements yourself, just use an extra amount of care and go slow – two things that will serve you well when you’re doing your own home improvement projects.

For some specific ideas, how old are the lighting fixtures in your dining room or bathrooms? These are fixtures that most people live with and use each and every day but often ignore. Changing these lighting fixtures can make a huge difference in the appearance of your rooms.

Look around at home improvement stores and lighting stores to get an idea of the style that you’re looking for. While a lighting store may be priced higher than what you want to spend, it’s a great place to get ideas for lighting fixtures you may be able to find at less expense retailers later during your budget friendly home improvement project. If you have any second thoughts about the color of the lighting fixture, ask the sales associate to move the fixture to a part of the store that most resembles the level of lighting in the goal room.

Visiting upper scale lighting and home stores is a great place to “window” shop for the style you want for the goal room. When trying to plan home improvements on a budget, shopping around for deals is the first and most time consuming step.

Once you have finally settled on a style that will fit within your home decor and decided on the big purchase, you can move on to step two of your home improvement project on a budget; installation. Read the rest of this entry »

Investing in Tampa Real Estate

Published by julia | Filed under Buyer / Seller Tips, Market Trends, Miscellaneous, Real Estate, Shout Outs

Real estate is a popular investment.  There are many modifications in the monetary system having puffed-up risk or lesser returns, the investment marketplace go on with the plan imaginative and good-looking investment approaches.  These developments make it important for real estate licenses to have an elementary and up-to-date knowledge of real estate investment.    Of course, this does not mean that licenses should act as investment counselors. For all he time they should refer investors to knowledgeable tax accountants, attorneys, or investment professionals.  These are the professionals who can give expert advice on an investor’s specific needs.

Consider All the Three Factors Before Investing in Real Estate

The three factors of investing in real estate are area, perception and economics.  The key to making the best investment in real estate, and specifically in cooperatives, and townhouses, is to consider all the three factors.  Investing in real estate correspond to a certain commitments on the part of the purchaser.    Investment in real estate made solely upon the location of the property will not yield those results.  Before making an investment, it is essential to include the three considerations

•    Consider on the whole area.
•    Consider awareness of the area.
•    Consider the financial factors.

Merits of Real Estate Investment:

Real estate values have varied extensively in various areas of the country.  Yet many real estate investments have shown above average rates of return, generally greater than the prevailing interest rates charged by mortgage lenders.  In assumption, this means the investor can utilize the influence of rented money to invest a real estate purchase and feel comparatively sure that, if held long enough, the asset will yield more money than it cost to finance the purchase. Read the rest of this entry »

Affordable Homes

Published by julia | Filed under Buyer / Seller Tips, Market Trends, Miscellaneous, Real Estate

Affordable housing works out from a simple equation. Affordable housing should not exceed around thirty percent of a family’s monthly income to pay rent and utilities. For owning a home, the costs for utilities, taxes, mortgage, and insurance should not exceed 38 percent of the gross monthly income. These percentages can define affordable housing for any person at any income level.

An issue that potential renters and homeowners face is the affordability of housing in the area that they would like to live. The affordability of a specific area is based on the available housing in the area as well as the incomes of the population in that area.

There are affordable housing programs available to the general public, although most of them are targeted for low to very low income families and individuals. To qualify as low income, the individual or family must earn less than eighty percent of the area’s median income. To qualify as very low income, the family or individual must make fifty percent of less of the area’s median income. Read the rest of this entry »

Get Your Gold in South Florida

Published by julia | Filed under Miscellaneous, Real Estate, Shout Outs

As the most highly urbanized part of Florida, South Florida is dubbed as the Gold Coast because you’ll surely experience a gold standard lifestyle when you choose to live here. Consisting of the Miami-Dade, Broward and Palm Beach counties, South Florida has a tremendous business and leisure possibilities for both tourists and residents. If you’re a sucker for the traditional fun-in-the-sun escapades, South Florida has a wide array of exquisite beaches that never fails to unravel the beach bum in you. If you’re digging the usual urban lifestyle, you’ll never run out of ideas of what to do when you’re in South Florida. You can visit Miami, South Florida’s largest metropolitan area, where skyscrapers abound that level up to those found in popular cities like Chicago and New York. Not to mention, the tropical climate in this area would be perfect for most outdoor activities. How about the nightlife? South Florida is known to have the most glamorous night clubs and beach gatherings that can unleash the party animal in you!

Since South Florida is a highly urbanized area, more and more people are grabbing their piece of real estate in this area. You bet, the whole area is large and you certainly will have a difficult time looking for an agent that is competent enough to know all the hot deals in South Florida. Why not approach Jeff and Shannon Summars?  They are the dynamic duo who could help you scour the whole South Florida to find the dream home you’ve been yearning for. They established the Florida Dream Homes LLC in 2002 and since then, they had a tremendous experience offering real estate services in the Miami, Fort Lauderdale, Boca Raton and Palm Beach areas.  Just last year, Jeff and Shannon expanded the reach of their services by offering real estate needs in Daytona Beach, Daytona Beach Shores, South Daytona, Ponce Inlet, Ormond Beach, Flagler County, Palm Coast, New Symrna, Port Orange and St. Augustine areas.  Armed with a background in sales and marketing, Shannon can guide you in grabbing any posh properties, condos and even homes with a high degree of professionalism. On the other hand, Jeff is the techie guy who helped established their client-friendly websites that points each customer to their possible piece of heaven in South Florida. Read the rest of this entry »