Understanding the Language of Loans

06.06.09 by

Your Realtor may not write your home loan, but that’s who will probably be there when you begin discussing mortgage options. Knowing some of the nuts and bolts before you start your home search can help you find the right loan.

Factors affecting your terms are the amount, the length of the loan, and the loan-to-value ratio (how much of the home’s value you are financing). Larger loans carry more risk to the lender, so the interest rate may be higher.

Similarly, a smaller down payment represents more risk, possibly warranting a higher interest rate. Get the best rate by putting down as close to 20% as possible.

The difference between 15- and 30-year loans is also critical. Payments for a shorter term will be larger, but you’ll build equity much faster, and enjoy a slightly lower interest rate.

Also, understand the workings of an adjustable-rate mortgage (ARM). You need to be fully prepared for what may happen to your payments after the first adjustment. However, something like a 5/1 ARM (a fixed rate for five years and an adjustment each year thereafter), could be a good idea if you’re buying your first home and don’t plan to stay longer than five years.

Discuss your hopes and objectives with an agent, who can help guide you down the road to homeownership.

If you’re considering purchasing a home, but feel ‘out of touch’ with what’s happening in real estate visit our website GabeSanders.com or call us at (772) 888-2885.

Springtree in Stuart Florida

05.30.09 by

Springtree is a beautiful small development just west of US 1 in Stuart, Florida. Conveniently located between Indian Street and Salerno Road, Springtree is close to shopping, restaurants, beaches and easy access to I-95 for commuters. This community is a wonderful family neighborhood and in the Martin County ‘A’ rated school district.

 

Engle Homes completed this community between the years of 2000 and 2003. This is a gated community with a lighted lake and fountain as the centerpiece of the community. Many homes boast wonderful private lakeside views. Springtree also has a number of preserve areas as well as a playground to keep the tots occupied.

For real estate information about Springtree or other fine Treasure Coast Florida Homes, visit our website GabeSanders.com or call us at (772) 888-2885.

 

The Difference Between Selling And Dwelling

05.30.09 by
There is a special mindset associated with “staging” your home to sell in a soft market. Staging refers simply to the act of improving your home’s appearance in order to appeal to the widest segment of potential buyers. The approach you must adopt is to see your home with an objective eye.
Stop looking at your home as your “home,” and start visualizing it as the “product” it becomes when it enters the market. Both a real estate agent and a professional home stager can help to market your product successfully by highlighting positive features and downplaying less attractive aspects.
Since you may have a strong emotional attachment to your home, you may not fully appreciate hearing about a better way to show your offering, but try to recognize that the way you decorate to SELL may be quite different from the way you decorate to dwell. The appearance of space often trumps its functionality when impressing buyers.
Your goal is to sell quickly at a fair price. A survey by a large national real estate brokerage showed that staged homes sell in half the time, and another survey of REALTORS® showed that a $500 “staging” investment recouped 343% of that cost. So be prepared to swallow a little pride, move some furniture, and field better offers on the road to your successful sale.
Understanding real estate dilemmas and their solutions is our business, and we’ll happily share our knowledge with you. For more info, visit our website GabeSanders.com or call us at (772) 888-2885.

Spacious Pool Home for Sale on 5 Acres in Palm City Farms

05.28.09 by
Secluded yet Close
• 2,344 sq. ft., 2 bath, 3 bdrm single story “Spacious Floor Plan” – MLS® $449,000 USD – Great 5 Acre Location

Palm City Farms, Palm City – Nicely updated and spacious CBS home on 5 private acres in Palm City Farms. A private paved road leads you to this wonderfully secluded setting, yet close to shopping, “A” rated schools, and restaurants. A large patio area with a screened oversized pool (new in 2003) is perfect for entertaining or lounging in the Florida sun. Spacious rooms with lots of closet space include a formal living room, dining room, large kitchen family room combination with a wood-burning stove, and office. The land is completely fenced and includes a large stocked pond with a dock. Fish, ducks, and turtles abound for nature lovers. Native trees and open spaces make for an incredible private oasis. New roof and AC in 2001.

 For more info, visit our website GabeSanders.com or call us at (772) 888-2885.

Pierpoint Yacht Club Condo for Sale

05.26.09 by

• 1,300 sq. ft., 2 bath, 2 bdrm condo “2’nd floor, end unit” – MLS® $99,000 USD – Exceptional value

Pierpoint Yacht Club, Stuart – 2nd-floor end unit, 2 Bedroom Condo located just steps from the wide Saint Lucie River in Pierpoint Yacht Club. Located in the heart of Stuart, close to beaches, restaurants, and shopping as well as downtown Stuart, yet in a wonderfully private and secluded setting. This premium adult community features a community fishing pier with docks and an active clubhouse with a fitness center and two community pools. Come take a look at this wonderful opportunity.

For more info, visit our website GabeSanders.com or call us at (772) 888-2885.

4 BR Lakefront Pool Home for Sale in Springtree, Stuart Florida

05.25.09 by
2,118 sq. ft., 2.5 bath, 4 bdrm 2 story – MLS® $250,000 USD – Priced to Sell
Springtree, Stuart – 4 Bedroom Screened Pool Home with gorgeous lake views in the private convenient gated community of Springtree.

This family-friendly community is close to Martin County beaches, convenient shopping, and wonderful restaurants. This district includes all ‘A’ rated schools. This home has generous room sizes and ample storage. Well located in the community with no neighbors across the street. Very aggressively priced featuring a kitchen with a gas stove, tankless gas hot water heater as well as gas heat for the pool and spa. Breakfast nook w/bay window that to the family room, the master suite has dual vanities, roman tub, separate shower. The second floor has accordion storm shutters for easy operation. Ready for immediate occupancy and a quick closing if desired.

For more info, visit our website GabeSanders.com or call us at (772) 888-2885.

Price Reduced on Riverfront Lots in Fort Pierce

05.23.09 by
SPECTACULAR WATERFRONT PROPERTY WITH 150+/- ft on North Fork of St. Lucie. River Place subdivision is quiet and reminiscent of Old Florida. 1.27 acre parcel. 3 adjoining waterfront lots also available. Invest in 1 or all of them for a 4.5 acre estate with 800 feet on the water
For more info, visit our website GabeSanders.com or call us at (772) 888-2885.

Price Reduced on Immaculate Waterfront Pool Home in North River Shores

05.23.09 by

North River Shores, Stuart – Announcing a price reduction on 2196 NW Fork Road, a 3,989 sq. ft., 3 bath, 3 bdrm 2 story “Solid Concrete Construction”. Now MLS® $850,000 USD – .

For more info, visit our website GabeSanders.com or call us at (772) 888-2885.

Price Reduced on Waterfront Pool Home fixer upper in North River Shores

05.23.09 by
North River Shores, Stuart – Announcing a price reduction on 1765 NW Harbor Pl., a 1,588 sq. ft., 3 bath, 2 bdrm single story. Now MLS® $525,000 USD – Bargain Priced.

For more info, visit our website GabeSanders.com or call us at (772) 888-2885.

An Offer They Can’t Refuse

05.22.09 by

In real estate investment, one person’s misfortune is another’s opportunity. Indeed, with so many foreclosed properties on the market, buyers are poised to take advantage of a literally once-in-a-lifetime chance at investment or ownership.

Every opportunity presents some challenges, however, and you’ll need more than luck to effectively buy a distressed property. These transactions are more complex than traditional sales, and you are strongly advised to seek the advice and representation of a real estate professional well versed in this new marketplace.

While a bank-owned home may look like a great deal, don’t assume that any offer will be accepted. Most banks list their foreclosed properties through real estate brokerages, and while they want to sell as quickly as possible, the listing agents have a fiduciary responsibility to get a good price for the owner.

An insultingly low offer can table the transaction permanently, so proceed with common sense and a trusted representative. Keep in mind when negotiating your offer that you should have an additional 10% of the price tag set aside for repairs. A foreclosed property, particularly an older one, will almost certainly require some overhauls.

In addition to your agent, consult with a local real estate attorney who can advise you about current foreclosure laws, which vary significantly from state to state. Know exactly who’s at the door when your opportunity knocks!

For more info, visit our website GabeSanders.com or call us at (772) 888-2885.

Singles qualify for full $8,000 tax credit

05.16.09 by

It’s good news for people who are single, divorced or widowed: They get the same income tax credit when buying a home as married couples do.

The American Recovery and Reinvestment Act of 2009 authorizes a tax credit for up to $8,000 when you purchase a home before December 1 of 2009. Whether the buyer is an individual or a married couple, they qualify for the same amount.

One exception: If the buyer is married and buying a home as an individual, that person only gets a $4,000 tax deduction.

Couples qualify for the tax credit if they have an income of $150,000 or less. A single buyer has to have an income of $75,000 or less. (If their income is higher, they get only a percentage of the $8,000 tax credit.)

Other provisions of the Act: First, you have to be a first-time buyer. If you haven’t owned a home in three years, you qualify as a first-time buyer.

Second, the amount of your credit depends on the price you pay for the home. The credit is 10 percent of the price up to $80,000. If you buy a place for $50,000, for example, you would get a tax credit of $5,000.

If you buy a house for more than $80,000, you will get the $8,000 tax credit rather than 10 percent of the purchase price.

Get your tax refund right away when you buy

You don’t have to wait until you file your 2009 income tax return to get a tax credit and refund. You can file an amended 2008 return and claim the credit now. You will receive a check for $8,000 (or 10 percent of the home’s purchase price up to $80,000) minus any amount still owed on previous years’ taxes.

The Act can also help you save money to buy a home. If you are certain that you will buy before December 1, 2009, you can reduce or eliminate withholding taxes from your paycheck. Save that amount toward your down payment. File a new W-4 at work.

For more info, visit our website GabeSanders.com or call us at (772) 888-2885.

Launch an Offensive

05.16.09 by

When buyers become scarce, sellers have to step up and make their offerings stand out to attract attention. Without spending a fortune, sellers can easily highlight several of their home’s features.

First, beat buyers to the punch with a pre-listing home inspection. By discovering and fixing problems before buyers ever see the home, you can impress them with a worry-free, move-in-now opportunity. Leave your repair receipts out during showings, so that buyers can see all the improvements you’ve made just for them!

Once the mechanical and structural features of your home have been addressed, move on to the aesthetic details. First impressions count, so make sure your home is inviting from the curb. Spiff up landscaping, paint, entries, and windows.

Inside, pay attention to bath and kitchen details, because those rooms are often the most important when buyers are making a decision. Aside from deep cleaning, consider updating bath and kitchen features with new and contemporary drawer pulls, faucets, and even sinks.

Finally, get a jump on your moving by organizing your closets and ditching or packing all you possibly can. A good guideline is to reduce your closets to half-full so that the buyers can easily picture the space for their own storage needs.

A few “preemptive strikes” should be all you need to attract buyers and offers, so ask your agent for tips today!

For more info, visit our website GabeSanders.com or call us at (772) 888-2885.

A Portfolio of Commodities

05.09.09 by

Have you ever thought of a home as a commodity? A commodity can be defined as a raw material or product that can be bought and sold. A home is not a raw material, but it is certainly built out of many, like a box full of wood, steel, cement, glass, and copper.

Over the long term, home prices usually rise along with the cost of the commodities it takes for construction. While high inventories of housing may be keeping prices lower right now, the cost of the raw materials that are intrinsically tied to a home’s value is rising, and rapidly.

With increasingly higher construction costs on the horizon, buying now is an ideal investment and a hedge against the rising cost of commodities. Every home is a store of value for all the materials, the land, and the labor involved in its construction. So the long-term value of a home is tightly connected to the cost of its production, making it a very different type of investment from stocks or bonds.

Investing in commodities has always been a great way to make lemonade from the economy’s lemons. And what better way to buy into the commodities market than by purchasing a home? Sooner or later, home prices will be pushed higher by the rising cost of raw materials, so make your move now!

For more info, visit our website GabeSanders.com or call us at (772) 888-2885.

Like New Pool Home for Sale in Eastern Port Saint Lucie

05.07.09 by
• 1,914 sq. ft., 2 bath, 3 bdrm single story – MLS® $210,000 USD – Like new Pool Home
Port Saint Lucie Section 40, Port Saint Lucie 34952

Like new light and bright in close-in East location just off Green River Pkwy. This is an expanded Madeira model with a beautiful heated pool and spa. The patio area is oversized and is screen-enclosed. Enter a spacious foyer overlooking living room, formal dining room and through an arch into a large kitchen, breakfast and family room area. The home has beautiful, wide plantation shutters, custom blinds and large tile. There are numerous other upgrades including beautiful matching fixtures and fans and mature landscaping. In an excellent location on a tucked away street off Blackwell, with very little traffic yet close to shopping, beaches, restaurants. This home is worth seeing.

For more info, visit our website GabeSanders.com or call us at (772) 888-2885.

Newer 4 BR Pool Home on large lot, for Sale in Palm City, Florida

05.07.09 by
• 2,756 sq. ft., 3.5 bath, 4 bdrm 2 story “Solid concrete construction” – MLS® $425,000 USD – Newer 4 BR Home – no HOA

Palm City Gardens, Palm City – Gorgeous custom-built 2004 spectacular home! Bamboo floors, extra special crown moldings, designer gourmet kitchen with granite and stainless steel appliances. Open floor plan ideal for entertaining with great room, formal living room with fireplace, formal dining room. 4 generous bedrooms with additional bonus room. Saltwater pool and fenced backyard. Superbly landscaped on half an acre plus private lot. Paver driveway and walkways and 3 car garage. RV parking. Non-deed restrictive community. Close to A-rated schools, shopping, restaurants, I-95, and FL Tpk.

For more info, visit our website GabeSanders.com or call us at (772) 888-2885.

Price reduced in Lexington Lakes, Stuart, FL

05.05.09 by

Lexington Lakes, Stuart – Announcing a price reduction on 1590 SE Sheffield Ter. Unit 201, a 1,417 sq. ft., 2 bath, 3 bdrm 2’nd floor condo with a garage. Now MLS® $99,000 USD – Affordable New Construction.

For more info, visit our website GabeSanders.com or call us at (772) 888-2885.

An Ounce of Prevention

04.25.09 by

If you’re planning to go bargain hunting, you are likely to come face to face with a special challenge: the long-vacant home. Many of these properties have been foreclosed, and now rest in the hands of the bank. The owners are long gone.

While the greatest percentage of these “distressed properties” are still in fair to good condition, how can you be sure of possible defects in the home when the previous owners are not available to disclose such facts?

Since the bank owners and their real estate agents may not know all the details about the previous owners, you would be well-served by ordering a “pre-inspection” if you find an attractive property at a low price. Hire an inspector for a preliminary look, and do not make an offer until you know more.

You can pay just a couple hundred dollars for a brief inspection, money well spent before you submit a bid. Having an idea of the home’s true condition can help you determine your offer, or help you make a decision to walk away from the deal, without any obligation.

If the utilities are cut off, ask your representative about getting them turned on during the inspection, which is critical to the inspection’s accuracy. Take a careful look at recent sales in the neighborhood, and make your offer armed with knowledge and confidence!

Understanding real estate dilemmas and their solutions are our business, and we’ll happily share our knowledge with you. Why not give us a call at (772) 323-6996 or visit us on the web at www.GabeSanders.com and www.TreasureCoastFLHomes.com. Our office is located at 1121 SE Ocean Blvd. in Stuart, Florida; please ask for Gabe Sanders.

Turn Those Red Flags Green

04.17.09 by

When selling a home, two situations may occur which are red flag indicators of a lengthy sale time. Each requires the property owners’ attention in cooperation with their sales agent, and involves either the price or condition of the home.

The first involves a home that has been on the market for 60-90 days, but has been shown only once or twice. More buyers are beginning to enter today’s real estate market, and homes for sale should be attracting a number of prospects.

When buyers choose not to tour a home, the reason is often the price. Homes that are attractive, but not being shown, are often priced “above” the market. The key to increased showings, then, is to learn the market price of the home, then reset the price.

The second “red flag” occurs when a home is being shown often, but neither sells nor attracts offers. The home’s condition is often the culprit in this situation. Buyers learn the price, then drive by, making a judgment that it is an attractive home. Once they see the home, however, their interest evaporates.

The solution can be a critical “walk-through” by the sellers’ agent to identify needed repairs and cosmetic improvements. Until corrected, traffic is likely to remain high, while the chances of selling remain low. Remove these red flags and prepare for a sale!

If you’re planning to sell your home soon and would like accurate and up to date information on its current value, give us a call at (772) 323-6996 or visit us on the web at www.GabeSanders.com or www.TreasureCoastFLHomes.com. Our office is located at 2391 SE Ocean Blvd. in Stuart, Florida; please ask for Gabe Sanders.

It’s time to invest in America For the economy to strengthen!

04.17.09 by

Americans need to become consumers again.

In the American economy, some 70 percent of activity is derived from consumers. But when consumers hunker down and quit spending, economic activity decreases.

The history of America shows it has always had a tendency for action. It has made this country great. People and companies believed in the possibilities of the future and spent their money accordingly.

Today, the mood is the opposite. Economists warn that if we don’t jolt consumers and the economy back to life, we could fall into what economist John Maynard Keynes called the “paradox of thrift.” That is, if everyone saves during a slack period, economic activity will decrease, even more, making everyone poorer.

If we don’t start spending and investing again, we also run the risk of experiencing what was known as Japan’s “lost decade of the 1990s.”

There have been signs that investors are putting money back to work again. Retail sales are slowly rising, and housing starts for February were up more than 22 percent. Sales of existing homes increased by about 5 percent. But we have still a long, long way to go.

The rush to hoard cash and pinch pennies is understandable, given that the net worth of many investments has declined dramatically, say experts writing in Newsweek.

But for our $14 trillion economy to recover and thrive, money hoarders need to open their wallets again and become consumers.

No one is recommending big credit card debt, but worthy and affordable purchases or investments should no longer be put on hold.

Mortgage rates are historically low right now!

04.16.09 by

The 30-year mortgage: In mid-March, 30-year conventional mortgages carried interest rates of from 4.875 percent to 5.125 percent depending on the lender, the state, and the buyer’s credit score. (See bankrate.com and others)

At 5 percent interest, the monthly payment on a 30-year mortgage for a $100,000 loan is $536.83, which many homeowners could easily afford.

The 15-year mortgage: Some home buyers look forward to paying off the mortgage before they retire or before their children enter college. The 15-year mortgage is a good choice for them.

It’s nice to know that while it will pay off in half the time, they won’t be paying twice as much each month. The 15-year payment for a $100,000 loan is less than you would think. At an interest rate of 4.25 percent, it would be $752.28 a month. Over the life of the mortgage, they would save almost $67,000 in interest.