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.

Short Sales

05.02.09 by

In areas where home prices have significantly declined, some owners find themselves strapped with mortgages that total more than their home’s value. When options such as extending the term of the loan or negotiating a lower interest rate have been exhausted, then a short sale may provide the solution.

However, short sales are complicated, requiring approval from a number of parties, so you need the representation of a professional to make sure the transaction moves quickly. You can have more than half of the paperwork done before that first offer even comes in.

Most lenders require an application package to be completed by the sellers, including a financial worksheet, as well as a letter of hardship explaining why the owners cannot continue to pay the mortgage. The real estate agent can also help with other aspects of the required paperwork, which should be assembled before the property is listed.

While the bank may be willing in such cases to accept less than the mortgage balance, the buyer’s offer must still reflect a fair price under current market conditions, so be sure to consult with an agent in order to arrive at a reasonable price that will be accepted by all parties, including the lender.

Short sales may not be easy, but they do provide an “exit strategy” for homeowners most in need of a solution.

If you’re interested in pursuing a short sale as either a seller or a buyer, your odds are greatly improved with agents that have an intimate knowledge of the process and a successful track record with short sales. 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.

A Quick Buyers Guide to Short Sales

05.01.09 by

What is a ‘Short Sale’

A short sale occurs when a seller wishes to sell a property that is now worth less than the mortgage and any other indebtedness that is owed on the property and is asking the lender to forgive all or part of the difference. If the seller is in a position and willing to pay this difference, it is not a short sale.

Who Should Buy a Short Sale:

It can be anyone who finds a property that they feel will suit their needs. It can be an investor, a first-time home buyer, or a second home buyer. The governing factor is that you must have patience and not need to take possession of the home in a short period of time. If you need to close in less than 3 months or possibly even longer, select a different type of sale.

What Should a Buyer Look for in a Short Sale:

Short sales come in different flavors with differing odds of a successful conclusion.
The best odds are with an owner in a pre-foreclosure situation where the current seller no longer has the assets to continue making payments on the home and it will be foreclosed upon in the future. Even better odds if there is no second mortgage on the home. The lender can’t ask for additional money from a seller without assets and they will prefer to take some loss now, rather than go through the expense of foreclosure at a later time. But, keep in mind; that the bank/lender will not sell it for a ridiculously low price if they feel that they can get more after a foreclosure. Can it be bought for less than the current market value? Yes, depending on the location from 10% to 25% under market value.

For the seller with a second mortgage, the negotiations will be a bit more involved, but given enough time, with a proper offer, the sale should lead to a successful conclusion.
After the above, come the investor properties. First, those investors that have gone bust or almost bust and have one mortgage are good short sale candidates, followed by those with second mortgages. However, if they have any assets, the short sale can be delayed and very often not completed due to the lender attaching large deficiency notices against the seller which they may not agree to thus causing the short sale to fail.

If you have an indication that the short sale belongs to an investor with considerable assets, be very leery as there is a good chance that the short sale will never happen.
The Short Sale Contract:
Your odds of a successful short sale are much better if you select an agent that knows the short sale process with a good track record. Unfortunately, you can’t always select the listing agent of a short sale and if they do not have much experience and/or short sale knowledge, it can be a very difficult transaction.

Once underway, the short sale is almost the same as any transaction. It is an agreement by a buyer to purchase a certain property from the seller. Both parties sign this agreement (the Purchase and Sale Contract) and now the sale is contingent on the specifics of the contract. In the case of the short sale, probably the important contingency is a lender or bank approval. Most short-sale contracts will specify that after the initial approval, all timelines will commence after lender approval. There is also a given time for the lender approval that may or may not require adjustment at some later time during the waiting process.

There are many ways to structure a short sale offer and this is where selecting an experienced agent will help your chances of a successful conclusion as well as protect your interests along with a reasonable escape or withdrawal clause.

The Short Sale Process:

Unfortunately, more often than not, this involves a lot of waiting. A good short-sale agent should try to get you updates or status reports every week or so. If they don’t, ask them, but be prepared for no news. When the lender orders an appraisal or BPO (Broker Price Opinion – a simplified appraisal normally performed by a real estate agent), it means that the end is getting closer. Probably (but, not always) within 30 days of an answer.

The Bank/Lender Approval:

This is not a sure thing, and the Bank/Lender could simply say no, and the buyer is back to square one, or they could come back with a counter offer that the buyer can either accept or reject or, they can simply approve the offer.

After making you wait all of this time, the bank will invariably demand a quick closing. Sometimes trying for as little as a week. Don’t be bullied at this point. You will need to complete inspections and satisfy yourself that the property is in an acceptable condition. If financing is involved, adequate time must be given to complete the financing contingencies.

The Closing:

The hard part is over and you will soon take ownership of your property at a great price. But one more thing to consider, often the lender will use their own attorney or title company to convey the title. They will only be interested in ensuring that they are free of any obligations on the property. They may or may not ensure all other liens or obligations on the property are satisfied. It may be very prudent to have your own attorney review the title and the title policy.

Congratulations if you have enough patience and diligence to complete this process!

If you’re considering purchasing a home, but feel ‘out of touch’ with what’s happening in real estate give us a call today 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.

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.

Seller Financing Can Be an Option for Some Buyers, Sellers

04.14.09 by

When the home you want does not have a mortgage or has one the seller is willing to carry, seller financing can be a great deal for a person buying a home.

Usually, the seller will want 10 percent down, but not always. The interest rate charged could be a point above the lowest bank rate. But one big advantage: The seller usually doesn’t require mortgage insurance, meaning the monthly payment will be lower in any case.

The loan can be constructed on a 30-year basis. Most seller-finance deals, however, last for five to seven years, then are settled with a balloon payment for the balance.

Sometimes, a buyer who opts for seller financing will be in a better position five or seven years down the road and will then be able to qualify for a 30-year conventional mortgage.

When buying a seller-financed property, be sure to get a current appraisal. Get title insurance for a few hundred dollars. It will show any tax liens and any other claims that could affect a property transfer.