Location, location, location: There Are Many Related Questions

11.29.09 by
Ask anyone. Buying a home in a “good” location is what you should do. But what’s good for one person may not be ideal for someone else.One factor to consider is whether the quality of a neighborhood is going up or down. When many homes in an area are for sale because of foreclosures, that might not signal a “down” verdict. If homes are of good quality, they will be resold and the neighborhood will again be stable. Those who buy now could get more for their money than they could get somewhere else.

Some other questions you might ask yourself or your real estate agent:

Any there any kids in the neighborhood? Families with young children will find this question important. They may not want to frequently drive their kids to play dates. On the other hand, couples with no kids or grown kids might not want to be bothered.

Where’s Mom? A home that’s a few minutes’ driving time from parents, relatives, or friends is a factor in some decisions.

How close are the stores? Do you want to be near a mall, supermarket, or a walking-distance grocery store?

Is public transportation available? How close is it to this home and where does it go?

Are there good roads leading to work? Distance from work and roadways to get there can make a difference.

How about parks and sports facilities? Driving time is an issue for people who go to the park often. Others don’t care.

Is there a hospital, medical or urgent care center in the area? This is becoming a consideration for more people.

Would this be a home I could retire in? Maybe a one-story in a quiet area is best.

How about living in a trendy, refurbished historical area or near a college?

Do I dream of moving to another state? Maybe it’s time to sell. Selling prices in many areas are stabilizing. In late October, there were just over 250,000 homes on the market, the smallest number since 1982, according to Fox Business.

There are more people living in the United States than there were in 1982, and while the number of available homes is still significant it is decreasing.

the Gabe Sanders real estate teamResidential Homes, Condos and LandWaterfront and Golf Course Communities in Martin and Saint Lucie Counties

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Helping Your Children with the American Dream

11.28.09 by
Most areas of the country have been experiencing some very attractive conditions for the first-time buyer, and current tax laws make this a very attractive time for parents to help their children become homeowners. Prices and interest rates may never be lower than they are now, so strongly consider this potential investment in your children’s future.
As parents, you can provide a significant down payment, free of taxation. Individuals may gift up to $13,000 per year, so two parents making gifts to their child and their spouse can give a total of $52,000 in one year without paying a gift tax!
Above and beyond the outright gift, you may loan your family money, as long as you charge a minimum interest rate, which is currently very low. Then you can make your gifts each year, and your child’s family can use the gifts to pay the loan!
If neither of these options is attractive, you could purchase the home yourself and then set up a Qualified Personal Residence Trust (QPRT), with the home passing to the children at the end of an established term, tax-free. You will need to consult with your financial advisor and employ an attorney to handle this kind of transaction.
Begin by meeting with a real estate agent and explaining your situation. Contrary to what you may have been hearing, there is practically no better investment today than real estate.
the Gabe Sanders real estate team

Residential Homes, Condos and Land, Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

Search the Martin County MLS

What’s It Worth Officially?

11.28.09 by

There’s a lot of news about home values and current appraisal values as well as the appraisal process. With markets changing so rapidly it can be a difficult process. The appraisers do not sit in a dark room and use a crystal ball to produce an all powerful document of a home’s value. There’s no magic involved. Here’s how it’s done.

An appraiser needs to compare similar recently sold properties. And it’s not just the final price that counts. They also factor in any “incentives” offered, such as sellers who pay closing costs or remodeling allowances. If similar properties have differences in lot value, condition, improvements adjustments are made.

Perhaps the most important factor that lenders review in an appraisal is the closing dates of the “comparables” (other homes by which yours is measured). Unfortunately, with today’s stricter lending requirements, most “comps” must have sold within the last 60 or even 45 days to carry weight. Markets change so quickly that any sale price over two months old may be completely irrelevant. In this market, in some slower selling areas, an appraiser needs to go further away to find recent sales, which occasionally makes the value suspect to some.

Now a few words about how foreclosures in a neighborhood affect the determination of value. Technically, appraisers shouldn’t consider them, because they don’t fit the Appraisal Institute’s definition of “a property reasonably exposed in a competitive market.” However, if several area homes have been abandoned, the market in such areas is in fact being driven by distressed sales and the appraised value will reflect this fact.

If you’re planning to sell, an experienced Realtor can make you a Comparative Market Analyses which can give you a good approximation of appraised value. If you have concerns about the accuracy of this value, you can order your own appraisal and have this ready to support the value of your home. Unfortunately, an appraisal will be considered out of date within a month or two after the date of completion will no longer have any authority.

Stuart Florida Real Estate

Residential Homes, Condos and LandWaterfront and Golf Course Communities in Martin and Saint Lucie Counties

Search the Martin County MLS

Selling Your Home? Dollars vs. Days

11.10.09 by

Once you’ve decided to sell your home, the second step is usually setting your asking price. You should strive for a balance between generating offers and receiving top dollar.

Your chosen real estate advisor should perform a Competitive Market Analysis (CMA) to produce an estimate of your home’s “fair market value,” or that price that educated buyers will pay based on listings and sales of homes similar to yours. The agent will not establish the price, but only provide the information you need to make that decision yourself.

In a hot market, you have the advantage, but would still want to avoid overpricing, which is always unproductive. However, in a neutral or buyers market, you’ll have to be particularly cautious in your approach to setting a price.

In soft markets, price reductions become more common, as well as fewer offers and longer listing periods. Often in slower markets, establishing too high of a listing price will result in a much lower sales price as values decline and you may find yourself chasing a declining market. During your listing period, your agent should also keep you advised on any market activity near your home and in the immediate communities. Be prepared to make the necessary adjustments as changing market conditions dictate.

Have a third party, like your agent, help you see your home as a commodity, with positive and negative selling points. Price your home objectively and competitively, be prepared to negotiate to reach an agreement with buyers, and exercise patience as you prepare your move.

the Gabe Sanders real estate team

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

Search the Martin County MLS

Protect Your Home and Your Wallet

10.31.09 by

If you own or plan to purchase a home, then you know that insurance is not just a luxury, it’s a requirement. While you should not skimp on certain coverage items, there are some steps you can take to reduce your overall premium.

If you have a security system installed (and operating!), you might lower your premium by 5% or more. You’ll just need to provide your insurer with a copy of your contract or latest statement. Also, while newer homes have smoke alarms already installed, hooking them up in an older home might also reduce your premium by as much as 10%.

Just like health or auto insurance, if you increase your deductible on homeowners insurance, you’ll reduce your premium. Just be sure you’re prepared to pocket smaller repairs like broken windows or damages from leaks.

If your policy is held by a company that also offers auto or health insurance, look into discounts for multiple policies. You could save a percentage on both your homeowners’ and auto policies, for example.

Another money (and time and stress) saver is to document everything in your home with a photographic inventory. Store photos, CDs, or videos in a fireproof box or, preferably, a safe deposit box off-site. This will reduce the time and effort required to complete a claim, and guarantee an accurate replacement payment.

Understanding real estate dilemmas and their solutions is our business, and we’ll happily share our knowledge with you. Why not visit our website or call us at (772) 888-2885.

Myth Busting – Foreclosures and Short Sales

10.26.09 by

When a homeowner faces default on their mortgage, there may be two options: foreclosure or short sale. Foreclosure can be devastating, both emotionally and financially. A short sale, or one in which the lender accepts a selling price less than the amount owed, is a better option for both the lender and the homeowner.

Regrettably, nearly seven out of ten homeowners proceed through foreclosure without ever listing their home for sale. This is due largely to perceived myths about the process, and we need to put a few of these misconceptions to rest.

First, homeowners assume the bank would rather foreclose than accept a short sale. Not true – foreclosure is often more costly for the lender, and short sales often sell for more than foreclosed listings. The banks are trying anything possible, within reason, to avoid the foreclosure process.

Next, homeowners believe there is a stigma attached to short sale listings, and that buyers have no interest in such properties. Not true – to the contrary, many smart buyers are specifically seeking out such offerings for the value they present compared to traditional listings.

Finally, homeowners often assume that there’s not enough time to close a short sale before foreclosure is final. Not true – foreclosure is a lengthy process and there is time to negotiate a better result, but you need to start today.

If you need information to help you solve a real estate puzzle, visit our website or call us at (772) 888-2885.

A First Time For Everything

10.19.09 by

An article appeared recently in the New York Times that beautifully illustrates the opportunities today’s real estate market offers. A mother working two jobs saved up for a downpayment and managed to buy a large home with a pool for $187,000. Three years ago, that same home had sold for $370,000!

While sellers are still feeling the pressure, buyers with stable incomes and good credit histories are beginning to spread a “feel good” vibe throughout the industry. Conditions have literally never been better for first-time buyers. Affordability has seldom been higher and interest rates have hardly been lower. The selection of inventory is vast, and sellers are highly motivated.

As more buyers enter the marketplace, the ripple effect will be felt far and wide. When they purchase a highly affordable foreclosure or “short sale,” they have removed a distressed property from the listings, improving values for other homes in the area. When they buy a “traditional” listing, that in turn sets off a chain reaction whereby the sellers in turn will purchase another home, from sellers who will, in turn, buy another home, and so on and so on.

You probably get the picture now. As we approach some stability in real estate, all indications are that prices will begin rising again. As the market approaches recovery, don’t miss your opportunity for the buy of a lifetime.

Stuart Florida Real Estate

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

Search the Martin County MLS

Price Reduced on Magnificent Wide Water Estate Home in Jensen Beach, Florida

10.16.09 by

Here’s your opportunity to own on a spectacular wide waterfront home on over 1.1 acres on Alice Street in Jensen Beach. Deep water dock with room for multiple vessels just minutes from the inlet. Drive down a magnificent tree arched driveway to an over 3000 sq. ft. home. This home boasts a chef’s dream kitchen featuring granite counters and stainless appliances. A large family/living area overlooking the pool and wide waterfront with your private sandy beach. The master suite also overlooks the waterfront with a huge cedar walk-in closet and upgraded marble bath with a Jacuzzi tub, dual sinks, and dual head shower. Lots of storage room including a large 3 bay shed. The remaining sections of this home require some updating.

the Gabe Sanders real estate team

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

Search the Martin County MLS

Price Reduced on Updated Evergreen Condo for Sale in Port Saint Lucie, Florida

10.16.09 by

Wonderfully updated 2 bedroom, 2 bathroom, 1st floor corner comes condo in Evergreen at Port Saint Lucie. Superior location by the new Saint Lucie County civic center, within walking distance to the hospital, banks, shopping and restaurants. Ceramic tile in all living areas and newer carpets in the bedrooms. Updated bathrooms. Evergreen features two community pools and numerous lakes with fountains. An excellent opportunity for a first time home buyer or for an inexpensive Florida second home.

Stuart Florida Real Estate

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

Search the Martin County MLS

Begin Packing Yesterday

10.10.09 by
Getting ready for a big move? You can’t begin preparing too soon, because the average move takes over 200 hours! Count on your real estate representative to provide advice and guidance during this seemingly monumental task.

Your first decision is whether to hire a moving company or rent a moving van and ask friends and family for help. If you’re using the pros, solicit quotes from several local companies who can visit your home and offer an accurate quote.

Next, begin sorting piles of items you’ll want to sell in yard sales, donate to charities, or haul to the landfill. This is a great opportunity to give back to the community and make a few bucks on the pieces you’ll sell. Anything you eliminate now will lower moving costs later.

DO create an inventory of your belongings, in case you need to file an insurance claim for lost or damaged goods. Allow the professionals to do your packing because if you don’t, those items that you wrap and pack won’t be covered by the mover’s insurance policy.

Finally, invest in additional insurance with the movers and storage facility, if needed. It only costs about $10 for every $1,000 in high-value items, so it’s worth it for your peace of mind. Ask your agent for more details to make your move as stress-free as possible.

If you need information to help you solve a real estate puzzle, visit our website or call us at (772) 888-2885.

Upgraded Condo for Sale in Conquistador, Stuart, FL

10.03.09 by

Fully updated 2nd-floor end unit. Newly updated open kitchen with island and breakfast bar. Spacious open plan with ceramic tile and new carpet in living areas. The Florida room is enclosed and becomes a part of the expanded living area with wonderful views of a park-like setting and the community pool. Two large bedrooms with laminate wood flooring and both bathrooms have been completely remodeled and updated. A washer/dryer hookup is included in this unit. Pet-friendly building. Conquistador features include an active clubhouse with a fitness area, library, ballroom, kitchen, a second pool, and tennis courts. Additional amenities include a riverside park with a fishing pier and a day dock. County Municipal Golf Course (36 holes) is next door.

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

Price reduced on Cedar Pointe Condo for Sale in Stuart Florida

10.02.09 by

Sunny and cheery 2 BR 2BA 2nd floor end unit with perfect SE exposure! A fabulous location only steps to the pool, clubhouse, and shuffleboard. This lovingly maintained unit has newer windows, and appliances and is freshly painted. Truly a wonderful place to call home. Cedar Pointe is centrally located with easy access to shopping, beaches, fishing, restaurants, a hospital, and a library.

Visit our website or call us at (772) 888-2885.

Time Is Money

09.26.09 by
Whether buying or selling a home, the Offer To Purchase is the starting point for making the sale go through. If the sellers do not accept the offer outright, they may make a counter-offer, which the buyers may likewise accept, reject or counter again.
In the interest of speed and success, it’s best to keep counter-offers to a minimum. If you are trying to sell with urgency (and who isn’t?), weigh the buyers’ offer against your need to move quickly. Perhaps the value of the concession is quite small against the profit you’ll see upon a sale.
If you are asking $200,000 and receive an offer of $196,000, that’s equivalent to just 2% less, which is like offering $.98 instead of $1. Similarly, buyers must also be realistic about the possible costs of “over negotiating” in today’s rapidly changing economic atmosphere.
If you balk at the sellers’ counter-offer now, and decide to walk away and begin your home search over again, you could be facing higher interest rates and/or rising home prices. Today, time literally is money, and the longer you postpone your purchase, the more it will likely cost you.
Before making (or accepting) an offer, discuss the offer and counter-offer process with your agent, so that you know what to expect and can be more prepared to see the deal to a successful close.
If you need information to help you solve a real estate puzzle, visit our website or call us at (772) 888-2885.
Residential Homes, Condos, and LandWaterfront and Golf Course Communities in Martin and Saint Lucie Counties

Sewalls Point Pool Home Sold!

09.23.09 by

Situated on an over ½ Acre high elevation lot in Sewalls Point, this is an extremely solid CBS home with a very private setting yet close to everything, the beaches, shopping, schools and marinas. Large, screened heated pool and spa overlooking a private fenced back yard with lots of room. Accordion hurricane shutters throughout. Side entry garage and a private gated entry. Split plan with pocket doors throughout home for those that prefer privacy. Wood floors throughout. All this at a fabulous price.

Visit our website or call us at (772) 888-2885.

Newer Lexington Lakes Town Home for Sale in Stuart, Florida

09.22.09 by

Live in the heart of Stuart and enjoy the amenities of Martin County and its ‘A’ rated schools. Close to beaches, parks, and shopping, this newer (built in 2006) 2 bedroom, 2.5 bath, and garage townhome with low monthly fees that cover hazard insurance, outside maintenance, heated pool, clubhouse, fitness center, guard gated entry, water sewer and more. An open plan with upgraded lighting and a tiled living area. Plenty of storage space as well as an open rear patio overlooking a grassy lawn with private preserve views. This Province model also offers additional guest parking close by. Renting is permitted with restrictions & 2 pets are allowed with association approval.

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

When Less Is More

09.12.09 by

If you are a homeowner who can no longer make your monthly mortgage payments, you still have opportunities to avoid foreclosure and the damage it would do to your credit. Although more complicated and more challenging, a “short sale” may prove to be the best alternative.

If you are unfamiliar with the term, a “short sale” can happen when your mortgage lender agrees to let you sell the home for less than you still owe on it, forgiving the difference. Why would a lender settle for such a sale? Quite simply, the lender may determine that they will still receive a higher amount of the remaining balance through a short sale than they would through the very costly and time-consuming process of foreclosure.

Why would a homeowner agree to sell the home for less than its value? As already mentioned, a short sale keeps you out of foreclosure and reduces the damage to your credit (and subsequent ability to purchase another home).

In the middle is the real estate agent, helping the sellers, the lenders, and the buyers navigate the complexities of the transaction to reach a satisfactory conclusion for all involved. Homeowners can trust their representatives to be honest and to provide a fair assessment of value for all parties. You can trust your agent to be your advisor and champion during difficult times.

Should you find yourself in such a situation in Martin County and would like an honest assessment of your options, visit our website or call us at (772) 888-2885.

Open House in North River Shores on Sunday September 13, from 1 to 4 PM

09.09.09 by

North River Shores, Stuart – We invite everyone to visit our open house at 2196 NW Fork Road on September 13 from 1:00 PM to 4:00 PM.

the Gabe Sanders real estate team

  Stuart Florida Real Estate

Residential Homes, Condos and Land

Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

Search the Martin County MLS

Port Saint Lucie Pool Home – Short Sale sold in under 60 days

09.04.09 by
Port Saint Lucie Section 40, Port Saint Lucie 34952 – The single story at 2686 SE Clareton Ter has been sold.
the Gabe Sanders real estate teamStuart Florida Real Estate

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

2490 SW Liberty St. in Palm City is Sold

08.29.09 by

Just sold, 2490 SW Liberty St. in Palm City, the Murano community. Brand new construction from Home Dynamics.

Contact us for some of the last few available homes at special pricing.

This neighborhood’s fantastic weather, minimal congestion and traffic, and cozy hometown atmosphere make it incredibly appealing to growing families and active retirees alike.

the Gabe Sanders real estate teamStuart Florida Real Estate

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

Open House in Palm City, Sunday Aug 30 from 1-4 PM

08.29.09 by
Please visit us at 3751 SW Canoe Creek Ter. on Sunday, Aug 30th from 1 to 4 PM.This home is a perfect 10! Immaculately appointed 4 BR, 3 BA Key West Pool Home on a secluded oversized preserve view lot of over 1/2 acre. Rich and warm wood flooring in all living areas. Custom handpicked marble kitchen and bathroom counters. New top-of-the-line stainless appliances and gas range boasting a pot filler. Kitchen appliances come with an extended 7-year warranty. Extensive crown moulding and wall treatments throughout. French doors and plantation shutters throughout. Gas heated, screened pool and spa overlooking an expansive yard and private playground. 15KW automatic backup generator. Super insulation and FPL savers make this a green home with very low utility costs. Come and see this gorgeous home.

the Gabe Sanders real estate team

Stuart Florida Real Estate

Residential Homes, Condos and Land
Waterfront and Golf Course Communities in Martin and Saint Lucie Counties