Vista del Lago June 2015 Market Report

06.20.15 by

Vista del Lago June 2015 Market Report

As of June 2015, there are 3 active listings in Vista del Lago. The list prices range from $49,900 to $74,900 for an average list price of $64,600 which equates to $76.22 per sq. ft. of living area.

There are currently two condos under contract which have not closed yet.  List prices were $37,00 and $50,000 for an average of $43,950 which equals $50.02 per sq. ft. of living area.

26 condos have sold in the past 12 months. Sales prices were from $33,000 to $85,000 with the average being $59,796. This equals $64.08 pr sq. ft. of living area. The average days on market was 50 days and these condos sold on average at 94% of list price.

 Vista del Lago in Stuart FL

The Vista del Lago condominium complex consists of over 500 condos located north of the Roosevelt Bridge and west of Federal Hwy (US-1) in North Stuart.  This attractive complex is very conveniently located near shopping, restaurants and a quick drive to either downtown Stuart or Jensen Beach.  Just a few minutes more and you can be on the Ocean in either Stuart or Jensen Beach.

Vista del Lago in Stuart FL Vista del Lago in Stuart FL

Vista del Lago condos were first built in 1974 and the last one was completed in 1979.   All the buildings are two story and contain both 2 Bedroom, 2 Bath and 1 Bedroom 1 Bath units.  Sizes range from 1,014 sq. ft. of living space down to 631 sq. ft. 1 bedroom units.  Many of these condos have attractive water views as well as some with golf course views of the Pine Lakes Golf Club.

Vista del Lago in Stuart FL Vista del Lago in Stuart FL

There’s an active clubhouse with a large swimming pool as well as shuffleboard courts.  No pets are permitted in Vista del Lago and this is an age restricted (55+) community.  The HOA fees as of June 2015 were from the low $200’s for a 1 Bedroom unit to just under $300 per month for 2 Bedroom condos.

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Vista del Lago June 2015 Market Report

Mariner Village Home With Lake Views Sold

06.19.15 by

Mariner Village Home With Lake Views Sold

Mariner Village Homes for Sale

5085 SE Devenwood Way in Stuart FL has been sold by the Gabe Sanders BlueWater Realty Team.  With the current strong activity in the Stuart FL area, this home was on the market for only 18 days.  The buyers purchased this home for $297,000.

Mariner Village Homes for Sale Mariner Village Homes for Sale

A wonderfully maintained Mariner Village home with spectacular long views of the entire lake. Fabulously located in the southern most area of Stuart adjacent to Hobe Sound with easy access to restaurants, shopping, and the beaches. This CBS three bedroom home with 2 full baths features 10′ ceilings, crown moldings, tile in main living areas & carpeted bedrooms (tile underneath). Also, an updated kitchen with stainless steel appliances & granite countertops. This home was professionally decorated with all window treatments & blinds which convey with the sale. Additional storage available through the pull-down ladder in garage, hurricane shutters. The furnishings are negotiable.

Mariner Village Homes for Sale Mariner Village Homes for Sale

Mariner Village Homes for Sale

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Mariner Village Home With Lake Views Sold

Bay Colony of Stuart June 2015 Market Report

06.17.15 by

Bay Colony of Stuart June 2015 Market Report

As of June 2015, there is only 1 active listing in the Bay Colony of Stuart. This home is listed for $989,900 or $420.16 per sq. ft. of living area.

There are currently no homes under contract or pending.

2 homes have sold in the past 12 months.  Ranging in sales price from $344,000 to $433,000. The average sales price was $388,500 which equals $127.99 per sq. ft. of living area. These sales averaged 94% of listing price and the average was 47 days on market.

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The Bay Colony of Stuart is an exclusive gated community lying on the shores of the North Fork of the Saint Lucie River.  There are 34 home sites in Bay Colony and as of February 2015 only two vacant lots remain.

Bay Colony of Stuart

Many homes in Bay Colony are waterfront and enjoy gorgeous mile long wide open views of the river.  Homes come in sizes from 3 bedroom, 2 bathroom homes of just over 2,000 sq. ft. of living area up to a 5 bedroom, 5 bathroom home with over 5,000 sq. ft. of living space and almost 6,300 sq. ft. under roof.  Homes have been built from 1979 to the newest which was completed in 2005.

Bay Colony of Stuart Bay Colony of Stuart

This community enjoys low HOA fees of only $775 per year which go towards maintaining the common areas and gate.

Excellent location that’s close to the Treasure Coast Mall and the shopping areas of US-1 in Jensen Beach as well as only a few minutes to the beaches of the Atlantic Ocean.

This community is in the Martin County School system and children attend the Felix Williams Elementary, Stuart Middle and Jensen Beach High Schools.

 Bay Colony of Stuart Bay Colony of Stuart

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Bay Colony of Stuart June 2015 Market Report

 

Stuart FL 34996 Condo Market Report May 2015

06.14.15 by

Stuart FL 34996 Condo Market Report May 2015

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for May 2015

For May 2015 in the 34996 Zip Code area of Stuart, Florida :

There are currently 103 active condo listings (Down by 7 condos last month).

Stuart FL 34996 Condo Market Report May 2015

39 Condo sales are pending and awaiting close or lender approval (Decreased by 16 condos from April).

Stuart FL 34996 Condo Market Report May 2015

33 Condos Sold in May (Increased by 10 condos from April) 

Stuart FL 34996 Condo Market Report May 2015

The Stuart FL 34996 Condo Market continued to be very active through May.  Pending sales were off a bit, which is not unexpected as we head into the summer months.  Typically a slower time for condo sales on the Treasure Coast.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 – decreased to 3.1 months from April’s 4.8 months .  Still a strong sellers market but soon to turn as we go into the summer months.  A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for May 2014 were: 145 active listings, 35 pending sales and 26 closed sales.  Considerably stronger activity this year even though there’s a significant decrease in inventory as compared to last year.

Stuart FL 34996 Condo Market Report May 2015

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Stuart FL 34996 Condo Market Report May 2015

“Credit Score Whack-a-Mole” for Stuart Mortgage Applicants

06.13.15 by

“Credit Score Whack-a-Mole” for Stuart Mortgage Applicants

 credit score

You may have wondered why there are credit repair companies out there since the credit reporting agencies have to allow any Stuart consumer to dispute incorrect line items on their own. The big Credit Reporting Agencies (“CRAs”) even have online systems for challenging erroneous information. The Agency must act speedily to investigate and correct any false information. Soooo, why pay someone else to just fill out their form?

The answer seems to be the same one that makes practitioners in the legal profession permanently in demand: it’s in the fine print. And in this case, it could be that some of that fine print is written in invisible ink.

As you can well imagine, speed is vital when a would-be Martin County mortgage applicant finds a credit score that’s lower than expected. The mortgage companies will decide whether you qualify (and how much interest to charge) based largely on that credit score. The actual details about how speedily the CRA must act are all contained in the fine print located in the FDIC’s Consumer Protection regulations, “Procedure in case of disputed accuracy” (6500, § 611). Once you notify the CRA, they have to investigate the validity of your claim and (without charging you a dime) determine within 30 days whether the item is accurate. More fine print describe further protections you have—

PARAGRAPH 2: The CRA has but 5 days to notify the company or person who provided the information about your challenge.

PARAGRAPH 6: The CRA has to provide you the results of their investigation in writing, and, if you’ve asked for it, describe the steps they took to arrive at their decision.

PARAGRAPH 7: If you didn’t know that you had the right to receive the above description, they must furnish it within 15 days after you later request it.

Those sound like pretty solid protections—vitally important since the CRA can’t just sweep your dispute under the rug, stall, or ignore you altogether. After all, they have to detail in writing how strenuously they worked to protect you! Right?

Except for one problem, which is in PARAGRAPH 8. If the CRA simply drops the disputed item from your current report within the first 3 days, that’s officially considered an expedited dispute resolution. Since the item has been dropped, that might seem to be a solid win. But PARAGRAPH 8 says that if the CRA does that, it no longer has to do anything demanded in Paragraphs 2,6, and 7! It’s as if those protections were written in invisible ink…so that next month, if the company or person just reports the same thing, voila! your credit report might once again go back to Square One. The CRA is supposed to notify you 5 days in advance; but let’s face it, the phrase ‘Catch-22’ comes to mind…or ‘Credit Score Whack-a-Mole’…

What can you do, short of hiring repair agency experts to fix your credit score? Most commentators are in agreement: just stay away from the online dispute forms. Send a registered letter with your dispute, because it usually takes the CRA longer than three days to act on it, so they can’t skip the protections.

And while you’re waiting, why not give me a call? We can start scouting for your new Stuart home!

Stuart FL 34994 Condo Market Report May 2015

06.12.15 by

Stuart FL 34994 Condo Market Report May 2015

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for May 2015

For May 2015 in the 34994 Zip Code area of Stuart, Florida :

 

There are currently 91 active condo listings (Decreased by 2 condos from April).

Stuart FL 34994 Condo Market Report May 2015

38 Condo sales are pending and awaiting close or lender approval. (Decreased by 2 condo from last month) 

Stuart FL 34994 Condo Market Report May 2015

19 Condos Sold in May (Unchanged from April).

Stuart FL 34994 Condo Market Report May 2015

The Stuart FL 34994 Condo market showed strong activity for May 2015.  Slightly less inventory and pending sales for May, while closed sales remained unchanged for the third month in a row.

The one month absorption rate decreased to 4.8 months compared to last month’s 4.9.  Continuing as a seller’s market.  Typically a real estate market is considered to be a balanced market with an absorption rate of 6 to 7 months.  Meaning neither the buyers or sellers have an advantage in the real estate market.

Last May the numbers were 111 active listings, 50 pending sales, and 27 closed sales. For the 34994 zip code area of Stuart there was considerably greater activity last year.

Stuart FL 34994 Condo Market Report May 2015

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Stuart Florida Market Report ZIP Code 34994 – Condo, May 2015

Stuart Real Estate Pro Lends a Hand via Relocation Expertise

06.08.15 by

Stuart Real Estate Pro Lends a Hand via Relocation Expertise

 sailfish

Remember the good old days, when most people could depend on staying in the same job in the same community for an entire career? Okay; the truth is, I don’t actually remember any time like that—but I do remember watching TV shows about it… The truth is, as with so many other facets of 21st Century life, sudden career upheavals that cause a Stuart citizen to undertake an abrupt relocation are fairly common today. And accelerated timing requirements can make the situation more intense.

Even without that added obstacle, familiarity with the ins and outs of practical relocation is one of the most valuable assets you gain access to when selecting an experienced Stuart Realtor®. Especially when a relocation is in your immediate future (even if it’s a future that became apparent without a lot of warning), the reality of having to deal with the mass of details accompanying both moving out and moving in can seem like a huge gray, angry-looking cloud hanging overhead.

Just getting a handle on the details can go far to remove the mystery and dispel anxiety. A short list of the elements that need to be determined and coordinated are:

  1. Professional and school requirements
  2. Transaction imperatives in both communities
  3. Moving and storage details
  4. Utility requirements

Once a timeline is determined and a To Do checklist assembled, it will be possible to stay on top of the process. Most importantly, it will help highlight those details that seem to be falling behind— allowing them to get extra attention. Staying abreast of relocation details is the single most important keys that will lead to a smooth outcome. It’s one of Murphy’s Laws that, come moving day, any detail that has been put off until the last minute is likely to cause foul-ups of one kind or another. For instance, if the electric service wasn’t notified far enough in advance, count on the move taking place on the hottest day of the year. Unpacking cartons and moving furniture around without working air conditioners is a memory best avoided!

Any relocation is a challenge that requires a welter of decisions in areas that fall outside what people encounter in everyday living. Fortunately, it’s a challenge that your Stuart real estate professional encounters regularly. Help with practical relocation to (or from) Stuart is just one of the areas of practical expertise that is yours to tap into when you put an experienced Realtor on your team.

The days when most Americans expected to stay in the same community for a lifetime may be fading from memory, but being able to rely on your Stuart real estate professional to help master some of the most challenging upshots is still here. They may say that nostalgia isn’t what it used to be, but that shouldn’t stop you from giving me a call, anytime!

 

Questions to get the Most from Stuart FL Realtor® Interviews

06.07.15 by

 Questions to get the Most from Stuart FL Realtor® Interviews

 Realtor

Everyone agrees that getting the right Stuart FL Realtor® for your team is vital when you’re buying or selling a home­­. Defining ‘right’ isn’t hard, either: for some of us, that will be a Realtor with the kind of dynamic sales personality that seems to make obstacles just disappear; for others, the ‘right’ Realtor® is the one we just ‘clicked’ with instantly­­—somebody who speaks the same language—is on the same wavelength—who we sense immediately will be someone with whom we can work seamlessly.

Sometimes even veteran homeowners who have bought and sold residences over the years have never had to develop a penetrating interview plan. Their trusted circle of friends may have included a real estate professional, or they may have had a good experience with the Realtor who introduced them to the community. But if that individual is no longer available, it’s going to be necessary to find a suitable replacement.

It all comes down to interviews—and why it’s important to get the most out of them. Personality is a perfectly valid basis for weighing candidates who will be performing the kind of vital­­ service your Stuart Realtor will be called upon to do, but what if there is no single standout candidate in that department? If, after interviewing a host of equally sympathetic candidates, you can’t pare down the field with any degree of confidence­—what then?

You won’t have to flip a coin (or consult a fortune teller!) if you’ve asked each candidate the same group of relevant questions. Some of them will differ depending on whether you are choosing a Realtor to help you buy or sell a property, but these are universally relevant:

  • How long have you been working as a real estate professional? How long here in Martin County?
  • How do you keep your clients informed of progress?
  • What if I need to get in touch with you?
  • What kind of Martin County service providers can you connect your clients with?
  • Will you represent me only, or will you represent both buyer and seller?
  • What kind of team do you work with?
  • What is the proposed fee arrangement?

If you make note of the answers to these and other similar questions, you should emerge with a feeling that you’ve gotten the most from the interview process. Along with the ‘track record’ materials every candidate Realtor will be sure to volunteer, at the end of the day, you’ll have with a solid basis for comparison. I hope you won’t hesitate to include me in your group of candidates!

Snug Harbor Stuart June 2015 Market Report

06.07.15 by

Snug Harbor June 2015 Market Report

As of June 2015, there are 2 active listings in Snug Harbor in Stuart, FL.  The list prices are $848,000 and $1,395,000 for an average of $447.15 per sq. ft. of living area.

There are currently no homes under contract or pending.

3 homes have sold in the past 12 months.  Ranging in sales price from $293,475 (foreclosure) to $3,020,000.  The average sales price was $1,300,825 which equals $326.43 per sq. ft. of living area.  These sales averaged 96% of listing price

Snug Harbor remains as one of the most desirable locations in Stuart, FL. Located on the wide Saint Lucie River just east of the city of Stuart Florida is this unique subdivision.


Snug Harbor was the vision of a group of 10 Yachtsmen, many former Commodores of the Chicago Yacht Club back in 1943. They bought the land and platted the area in September 1944 as well as forming the Snug Harbor Corporation, which controlled the ownership of the lots.

 

In 1975 the deeds were distributed and/or sold to the then owners and a condominium form of ownership was established under the name of the Snug Harbor Yacht Club. With both waterfront and non-waterfront homes and estates, located just minutes away from the ocean by boat or car and also convenient to downtown Stuart, offices, restaurants and recreational areas.

Snug Harbor in Stuart FL

Snug Harbor is one of the finest communities in Martin County. There are only 72 home sites with a club house, deep water marina, boat ramp, trailer parking and tennis courts. There is an active association with social activities year round that make this community a very attractive place to call home.

Snug Harbor in Stuart FL

Please feel free to contact Gabe Sanders (772-323-6996), a Snug Harbor resident, if you would like any information about this wonderful community.

Snug Harbor in Stuart FL Snug Harbor in Stuart FL

 

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Snug Harbor June 2015 Market Report

Treasure Coast Readers find few Housing News Jolts…until Tuesday

06.03.15 by

Treasure Coast Readers find few Housing News Jolts…until Tuesday

 Housing News

With our Treasure Coast’s housing news behaving pretty much in line with the rest of the nation’s—that is, exactly as expected for a brisk spring selling season—you don’t usually expect to see much eye-catching housing news in the national press. That’s why last week’s USA Today Money section’s front page story was interesting. Inside, there was more, too. Tucked inside the same section was “THE WEEK AHEAD” which provided a day-by-day schedule about imminent housing news releases—a welcome heads-up for any devoted Stuart housing news observer. I’ll get back to how that wound up working out later…

The lead housing news item, headlined “AS RENT GOES UP, SO MAY HOUSING MARKET,” centered on the sort of shift that can wind up being indicative of something: for the first time in at least five years, they found “a milestone that should spur the sluggish home-buying market.”

That milestone was a rise in U.S. median rent prices, which climbed 4% from a year earlier—the most robust increase since March 2013. A little less firm was what the ‘something’ that this indicated, but the balance of opinion seems to be that the climbing rent number will prod more renters into buying a place of their own. This seems a reasonable enough takeaway, and it’s one that is supported by history. Underlying that conclusion is another contributing factor: “multifamily construction fell off a cliff after the…financial crisis in the late 2000s…”, so the tightening availability of rentals also factors in.

The item ends with a slightly contrary (and logical) point: rising rents means it will be tougher for tenants to save up for down payments, all the more because rents are now rising faster than wages.

That earlier-mentioned “THE WEEK AHEAD” article on the second page had a list of real estate news reports that were scheduled to be released last week. It was headlined, “Data may point to warmth,” and was indeed more real estate news (rather than a weather update). But the optimism about warm spring weather possibly pointing to a rise in home builder sentiment was slightly chilled when the actual report came out: sentiment dropped two points in May.

Housing starts data were scheduled to be released on Tuesday—and this one turned out to be GREAT! The Census Bureau “surprised the market” with the strongest monthly report for starts and permits in 7 ½ years—soaring 20+% in April (with single family housing up 16% from March). So, one has to wonder: if home builders are less optimistic than predicted, why are they breaking out the hammers and saws so energetically? The housingwire.com website thought it represented a rebound from “weather-depressed” previous numbers…so maybe the “Data may point to warmth” headline had been right, after all.

The rest of the real estate news releases for the week were less interesting because they centered on reaction to the Federal Reserve’s release of the minutes of their meeting, which (let’s face it) are traditionally confusingly vague. But the week was slated to end with Friday’s Labor Department release of consumer prices, as indeed it did: price rises slowed to 0.1% from the 0.2% in March. Good news, also. All in all, Stuart readers had to come away from the spate of housing news with a considerably warmer feeling than they’d had for much of the winter.

For an up-to-the-minute update on how our Treasure Coast’s market compares with the rest of the nation’s – and how your own plans stand to fare – just give me a call any time or check out my market reports page on my website!

 

Emerald Lakes Townhouse Stuart FL Sold

06.03.15 by

Emerald Lakes Townhouse Stuart FL Sold

Under contract in 22 days, this Emerald Lakes townhouse has sold for $138,000.  Ask the BlueWater realty team about Stuart FL townhouse sales.

Updated Emerald Lakes Townhouse

A beautifully updated Emerald Lakes townhouse featuring a modified open kitchen with granite counter-tops and newer appliances (2 years old). This 2 BR, 2 and 1/2 Bath townhouse has lake views from both bedrooms.  Only a short walk to one of two community pools and tennis courts.  This townhouse has new carpets, new washer and dryer and new hurricane and impact resistant PGT sliding windows. Dual sinks and Corian counters in the master bathroom. 2 assigned parking spaces plus ample guest parking. A great location close to shopping, beaches, restaurants, medical facilities and historic downtown Stuart. Emerald Lakes is available for all ages and 2 pets under 40 lbs. are permitted. A wonderful opportunity for an affordable Stuart home.  The list price for this Emerald Lakes townhouse is $144,900.

Updated Emerald Lakes Townhouse Updated Emerald Lakes Townhouse

The community of Emerald Lakes lies in the Port Salerno area of Stuart, Florida and consists of 400 2 and 3 bedroom townhomes and 130 single family villas.  The town homes and villas are governed by two separate home owners association yet share many of the same amenities.

 Updated Emerald Lakes Townhouse SAMSUNG DIGITAL CAMERA

Spread out over 100 acres of beautiful Florida landscape, with 3 ‘Emerald Lakes’, miles of walking paths, 7 tennis courts, 3 heated pools and two club houses.  Very conveniently located within walking distance of a Publix Grocery store, Beall’s, Walgreen’s, Banks, Gold’s Gym, etc.

Updated Emerald Lakes Townhouse

Just a few miles away are numerous Golf Courses, Martin County’s famous waterways, marinas  and beaches  and also within minutes of I-95 for easy access to locations both north and south.  Fort Lauderdale is only a little over an hour to the south and Disney World is just over 2 hours to the north.  A perfect location!

Updated Emerald Lakes Townhouse

Residents of Emerald Lakes enjoy the good life with low HOA fees and an excellent management staff for both Home Owners’ Associations.

Currently Available Homes and Town Homes in Emerald Lakes

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Emerald Lakes Townhouse Stuart FL Sold

The 8-Second Decision for Stuart Home Showings

06.02.15 by

 The 8-Second Decision for Stuart Home Showings

 curb appeal

“Buyers make their decisions in exactly eight seconds. After that, they’ve either fallen in love or are just honoring an appointment.”

You’re likely to come across that quotation (from prominent Manhattan Realtor® Barbara Corcoran) whenever you’re researching how to add the most value to your Stuart home with the least expense. For Martin County home owners about to list their property, it’s a somewhat unnerving prospect. If true, then every showing may start with what sports fans call a sudden death playoff!

If you are a future seller with a Stuart home that needs improvement, it’s only realistic to accept the likelihood that should you go to market without doing anything about it, it will cost you one way or another. Either the offers you garner will be lower than they needed to be, or (worse), the home will linger too long with no real offers at all. If you have any leeway in time and/or budget, there are two approaches you can take to fix the problem.

First, you can hire a professional to assess the problem and lay out solutions. It may be expensive (not necessarily); but it’s a pretty foolproof approach. You and your real estate representative can go over the recommendations, assess which will be most cost-effective—most certain to reflect in the value your home realizes—and then get them done.

The other way is to make your own evaluation, and act on it. Drive up to your curb just as prospective buyers will, get out of the car, approach your home, and take in what needs fixing. If your curbside mailbox doesn’t have clearly recognizable numbers on it; if the walkway looks stained or broken; if the bushes have last fall’s dead leaves lodged in them; if the front doorbell is rusty…you get the idea! Note what’s wrong (heave a sigh of relief for what’s right), and get going! It will pay off!

On the other hand, if you have a Stuart home that’s undisputedly a true eye-pleaser, you’re probably content with the Love at First Sight precept—as you should be. If you’ve done your job of maintaining your home’s exterior and landscaping, you’re steps ahead. But a word of caution: that first decision doesn’t have to be final. If what buyers experience once they are inside is persuasively positive, any off-putting first-glance judgement can be turned around. What’s of key importance is that no single glaring negative element be present. If it is, it can seal a negative first impression…or undermine a positive one.

I’m here to lend experience and advice every step of the way. And a good first step is a really simple one: call!

Putting Stuart Real Estate Prices in Perspective

05.30.15 by

Putting Stuart Real Estate Prices in Perspective

 Prices?

Whenever you are getting ready to buy or sell a residence, taking the temperature of the local housing market is part of how you prepare to engage. When Stuart real estate prices are on the rise, bargain hunters know they’ll have to scramble. When Stuart real estate prices are flat or on the downturn, spotting good value in the local listings is easier. A slow market means that those sellers who are impatient to move on will be willing to reduce their asking price. They will tend to “find the market” more quickly, rather than waiting it out.

Our Martin County real estate prices are seldom in exact lockstep with the national market—but when it moves, the impact is felt sooner or later. Of all the national barometers that are out there, the pre-eminent one is the research done by under the Case-Shiller banner.

At the end of last month, the latest S&P/Case-Shiller Home Price Index again confirmed the uptrend we’ve been seeing for nearly 3 years now. No surprise there: nationally, residential real estate prices continued to rise at the moderate clip that we’ve grown accustomed to. The only standouts were in the 20-City Composite (the single month rise of .5% was the largest increase since July) and in Denver and Dallas—both of which have now actually surpassed the peaks registered at the height of the real estate price bubble (which might have Coloradans and Texans wondering if it was a bubble at all)…

But what was unusually interesting were some observations published at the end of the Case-Shiller report, in the Analysis section. It noted that the data marked the 34th consecutive month of year-over-year price gains, and that home real estate prices “continue to rise and outpace both inflation and wage gains.” It pointed out that, nationally, average residential real estate prices are within 10% of the “housing boom peak.” And then it came up with an insight that puts things in perspective in a way that hasn’t appeared elsewhere. This by S&P Dow Jones Index Chairman David Bitzer:

“A better sense of where home prices are can be seen by starting in January 2000, before the housing boom accelerated…”

Looking at inflation-adjusted numbers, the latest U.S. real estate prices as registered in the Index rose just a touch under 30% from January 2000 to February 2015. In other words, when you remove the whole statistical bulge—the “bubble” phenomenon—out of the picture, residential real estate prices have risen at an annual 1.7% rate. That’s real appreciation, adjusted for inflation. Slow—but “steady as she goes!”…and for the past three years or so, it’s more than doubled that long-term gain.

Stuart homeowners whose stress levels went up and down with the extreme price rise and fall would have been a lot more comfortable had they just snoozed through the whole affair, confident that the long-term history of real estate demonstrates, as the name implies, just about the most ‘real’ investment you can make.

When you get ready to take a look at the residential market, I hope you will want to give me the first call. I’ll share the latest up-to-the-minute info on Stuart real estate prices and activity that will put everything into meaningful perspective!

 Putting Stuart Real Estate Prices in Perspective

Tropical Paradise Ocean Access Waterfront Lot Under Contract

05.27.15 by

Tropical Paradise Ocean Access Waterfront Lot Under Contract

This waterfront lot with ocean access (fixed bridges) is now under contract.  The contract is contingent on financing so if you have an interest, please call me as we will take one or two back-up offers.

7941 SE Paradise Dr New Price

Paved driveway and pad in place.  Existing mobile home has been removed.  There’s 81 feet of waterfront with ocean access suitable for a smaller boat that can go under two fixed bridges with approximately 6′ clearance.  Community has an RV boat storage lot with one space for every resident. Great opportunity in a wonderful friendly community.

Overview

Maps

Photos

Features

Description


Slide Show
$75,000
Lots and Land
Main Features
Lot: 0.20 acre(s)
MLS #: 379758
Location
7941 SE Paradise Dr.
Stuart, FL 34997
USA
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The Tropical Paradise community is a subdivision with modular and manufactured homes that are slowly replacing the original mobile homes that were in place.

Click here for more information and pictures

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More information about Stuart Florida Homes and Land can be found on the Gabe Sanders BlueWater Realty team’s web site.

Tropical Paradise Ocean Access Waterfront Lot Under Contract

Retirees Rethink Retirement – of Their Stuart Mortgage!

05.26.15 by

Retirees Rethink Retirement – of Their Stuart Mortgage!

 Loan-Paid

Last week, The Wall Street Journal ran an article about personal finances that many Florida mortgage payers who are at or near retirement age should find thought-provoking. It centered on the idea that today’s retirees are often making a decision that differs from what past generations have chosen.

The basis is twofold. First, it’s undeniable that the 60- or 65-year-olds of today rightly expect a future that’s likely to stretch one or more decades longer than was the case for their grandparents. Improved health care and health awareness have combined to extend life expectancies considerably. The WSJ didn’t mention it, but some quick research reveals that while a baby boomer’s parents (assuming they were born in the 1920s) had a longevity expectation at birth of only about 55 years, the CDC says that today’s average 65-year-old male can expect to live another 18 years—with ladies even out-surviving them by another 2½ years.

Such a radical advance combines with a second development—today’s low mortgage interest rates—to create a shift in thinking by many as they hit retirement age. Experts believe that previous generations tended to feel “they were in the last inning” of life, and thus needed to pick a safe path regarding their residences. Paying off their home’s mortgage was given very high priority—one that was almost universally unquestioned. Home ownership unencumbered by a mortgage was taken to be a sound part of a worry-free old age.

But today’s Florida retirees are significantly less defensive in their thinking. According to The Journal, “Maybe their parents paid off the house before retiring, but many baby boomers say it makes more sense to carry a mortgage.” Instead of surrendering their cash or investments, the 21st Century trend is for mature Americans to take advantage of today’s low interest rates. The long time run-up in the stock market has also made the choice that much more appealing.

Florida seniors may also be departing from the way previous generations behaved. A Merrill Lynch/Age Wave study in August found that 30% of relocating retirees were moving to larger homes! And let’s face it: the whole notion of retiring is undergoing a transformation as more and more of the 60+ set realize they don’t want (or can’t afford) to quit working altogether. With so many good years before them, many are embarking on new careers—often elatedly following pursuits they’d “never had time for.”

With mortgage rates in Stuart continuing to roost down in the bargain basement, today’s seniors aren’t alone in recognizing that this spring represents a rare home buying opportunity. If you are coming to the same conclusion, I hope you will give me a call to chat about today’s many Stuart offerings!

Stuart FL Multi-Family Housing Out of Reach? It Ain’t Necessarily So!

05.24.15 by

Stuart FL Multi-Family Housing Out of Reach? It Ain’t Necessarily So!

 multi-family homes

Martin County multi-family housing is the umbrella term covering all the various kinds of residences that shelter more than one family. Everything from duplexes and homes with guest cottages to apartment complexes fall into the category, which is most often thought of in terms of the solid investment potential it represents.

While Stuart multi-family housing offers all of the same investment potential and more (the economies of scale can give an apartment building listing, for instance, many times the profit potential of a single family rental), a multi-family residence can also be the pathway to home ownership for a first-time home buyer. You might not think so, but when a prospective buyer will also be resident, standard financing guidelines—even for FHA loans—may apply. The lending particulars vary by a given Florida property’s specifics—among other factors, whether or not cash flow-producing tenants are already in place. But the assumption that the higher mortgage amounts associated with multi-family housing opportunities automatically puts them out of reach ain’t (as the song says) necessarily so!

The NAR® finds that some 38% of residences are purchased by first-time buyers—yet it’s a safe bet that most of them would never consider that purchasing multi-family homes could be a great way to own their first home (and even generate some extra income at the same time). To begin to examine this as a possibility, some basic research into some of the key elements of multi-family financing is a logical preliminary step.

·   Down Payment Options

Today’s loan requirements may be seeing some degree of easing, but most Stuart multi-family homes listings carry bigger down payments than single residences. Even so, some FHA loans for a one- to four-unit home require just a 3.5% down payment. A variety of other loan programs emphasizing affordable down payment options may also apply.

·   Cash Reserves Requirements

Some traditional lenders have no specific cash reserve requirements, while the FHA has defined guidelines. For one- or two-unit properties, buyers must have one month’s worth of reserves (cash left after closing). For three- to four-unit homes, the requirement is for three months of reserves.

·   Debt-to-Income Ratio

Lenders evaluate debt-to-income ratios to include other monthly debt payments as well as the anticipated mortgage payment. They weigh that against gross monthly income…and, needless to say, lenders who include a high percentage of projected rental income will be more likely to find a loan viable.

Whether you are a first-time or veteran home buyer, considering the Martin County’s multi-family housing listings is an idea that may be worth pursuing. Give me a call to discuss how one of today’s prime offerings might fit into your future!

Low Credit Score? You Can Still Buy Your First Martin County Home!

05.22.15 by

 Low Credit Score? You Can Still Buy Your First Martin County Home!

 credit score

They really ought to teach this stuff in school: real-life, day-to-day economics. Martin County youngsters out on their own for the first time are usually left to trial and error when it comes to mastering things like how to lay out a personal budget or use credit advantageously. Or even how to go about selecting a bank, or opening a checking account…

So when it comes to buying their first Stuart home, it’s very common for newcomers to put off confronting the whole daunting issue. When you’re still new to your career, tackling a purchase involving years’ worth of income channeled through a maze of unfamiliar procedures is easy to put off. But when the delay stretches well past the point in their financial lives when it would be clearly advantageous to own rather than to continue renting, it’s the same thing as throwing hard-earned cash overboard.

They really ought to teach this stuff in school! That having been said, here is a broad-brush, very basic rundown of the lay of the land aimed at first time Treasure Coast Florida home buyers:

Since the asking price for even the most modest Martin County home is a number with multiple zeros on the end, you might assume that common sense indicates it’s out of reach. All the more so if early mistakes handling credit cards or student loan troubles have damaged your credit score. The good news is that potential home buyers with less than outstanding credit can still buy that first home—given some careful financial planning and research on your part.

  • The most important factor banks use to determine your mortgage eligibility is your FICO (Fair Isaac Corporation) credit score. The numbers range from 300 to 850, are based on a number of factors including how much debt you have and your payment history. In general, borrowers will need a credit score of at least 650 to qualify for a conventional home mortgage loan.
  • BUT, it’s not the only factor. Although your credit score tops the list of elements that determine your eligibility for a mortgage, banks will also consider the amount of money you can commit to a down payment. Saving up may delay your first home purchase, and definitely takes discipline…but today, the amount you need is changing. Different lending institutions have different rules for determining eligibility, and some offer-
  • Non-conventional loans. Today, first-time home buyers with relatively low credit scores can often secure such loans. You should research Treasure Coast FL banks to find those currently offering non-conventional loans to borrowers with qualifying credit histories. You should also consider a Federal Housing Authority (FHA) loan, which eases credit requirements. For example, you might qualify for an FHA loan with a credit score as low as 580 with a down payment of just 3.5%!
  • You can also use money from an IRA for your down payment. In other circumstances, withdrawing money from your IRA before age 59 ½ means paying a 10% penalty, but that rule doesn’t apply when you use your IRA to purchase a first home!

Bottom line: a low credit score doesn’t necessarily mean you can’t buy your first Martin County home. I’m here not only to help you find a home, but to help clarify the options that make possible that dream of owning your first home. Call me anytime!

Martin County Real Estate News Can’t Compete with this China Item

05.20.15 by

Martin County Real Estate News Can’t Compete with this China Item

 3D_Printer

Martin County real estate news is fairly predictable—at least compared with some of the stories that filter in from the rest of the world. Here in Stuart, for instance, wherever a new home is being built, you’re likely to see familiar evidence like stacks of lumber and drywall, cartons of nail gun ammo, sacks of cement, and workmen hustling around as they put everything together.

Nary a printer in sight.

Not so in China. According to The Washington Post, the real estate news includes an item about an innovation from Asia. “Innovation” is perhaps a bit of an understatement, because the gist of the story was that in April a year ago, a Chinese concern built 10 houses in one day using a 3-D printer.

Despite what you may be thinking, this item did not have an April 1 dateline.

The 3-D printers we’ve been reading about over the past few years are the ones that take pellets or powders made of plastic, wax, ceramic, or even metal, and print three-dimensional objects, layer by layer, as directed by a computer.

Only a few years back, for most of us, stories about 3-D printers seemed more like science fiction than reality. But apparently the things actually work! As evidence, there have been lots of stories about the legal and other ramifications that accompany the printing of firearms. A few months ago, astronauts printed up a 3D wrench aboard the International Space Station: they’ll just print up spare parts when things break down. And there was that car (the “Strati”) that a company printed in Chicago: it took 44 hours to print, with a top speed of 40 MPH…

Doesn’t this all sound a little bit nuts?

But back to the real estate news from China. It seems that the outfit that printed the 10 houses last year, built a really, really big 3D printer, and used it to print a mansion: an 11,840 square-foot villa. Next to it, they printed up a 5-story building (just showing off, you have to think). According to reports, the process is more than just fast: it’s becoming cheaper and more energy-efficient. The Chinese company says that it can save 30%-60% of building materials, 50% of labor costs, etc. They want to print bridges, too…

But don’t think American ingenuity is being left in the polymer dust! USC Engineering Professor B. Khoshnevis is plugging away at the forefront of the technology, except he calls it “contour crafting” instead of “3D printing” (or “Xeroxing”). On his web site, in answer to the FAQ “Can you print an entire house?” the answer is Theoretically, yes. He hopes to see “entry-level construction models on the market within one to two years.”

Soooo, how long before our local Martin County real estate news will be trumpeting our own 3D printed houses for sale? No time soon. It turns out that the villa, 10 small houses, and 5-story apartment building in China “aren’t much to look at.” In fact, some say they are for demonstration only. So when you give me a call to help you find the Stuart home of your dreams, I suspect a printed model won’t be on our tour list. We won’t be making the rounds in a Strati, any time soon, either.

It’s only a two-seater, anyway.

3 “C’s” Turn Bad Weather into Boon for Your Stuart FL Home for Sale

05.19.15 by

  3 “C’s” Turn Bad Weather into Boon for Your Stuart FL Home for Sale

 weather

You’ve decided that right now is the perfect time to put up your Stuart FL home for sale; you’re charged with energy and determination; you’re ready to get going—and then…suddenly, the spring weather turns foul. It’s an all-too-common frustration, from mud season sieges in Northeastern Maine to kite-busting windstorms in the far Southwest, the kind of perfection “spring days” brings to mind isn’t always there when you want it to be.

Some days (even some weeks) are like that—often, when you’re trying to ready your Stuart home for sale. Sometimes Mother Nature just doesn’t cooperate. You’re stuck indoors.

Rather than sitting and stewing over all the time lost from perfecting the garden or touching up those few exterior blemishes that need a spot of paint or two, this is one situation that’s easily reversed. In fact, there is such a lot that can be accomplished indoors, with a little mental jujitsu, you should even be able to talk yourself into considering a bad weather break as an opportunity.

There are dozens of indoor activities you can attend to. Here are 3 C’s for examples:

Clutter! Let’s face it, for a home for sale, there’s too much stuff, everywhere. No, all that dust-catching memorabilia doesn’t really serve to create a more charming, homey atmosphere. It actually creates the sense that this home for sale belongs to someone else. The goal is to display a dwelling primed and waiting for the buyer’s décor ideas to take hold—and clutter in the form of personal possessions just obscures the issue. Box it, store it—or even prepare it for later eBay sale. Just do get it out of sight!

Clean! There’s the degree of ‘clean’ that we live in every day, and that’s perfectly fine for busy households and regular family life. Then there’s the kind of ‘clean’ that can help to turn a home for sale into a home that’s under contract. Deep cleaning is an art—and it may even take a professional to accomplish. In most cases, it just takes a little more time and determination than day-to-day housework can achieve. A stormy day is perfect for a serious rented-rug-cleaner session, or some toothbrush-aided baseboard scrubbing. Granted, foul weather is not conducive to any heroic window washing…for that, wait ‘till the skies clear.

Clear!  The furniture arrangement that’s evolved over time may be a layout that makes daily Stuart Florida living comfortable and convenient is frequently not the layout most conducive to moving a home for sale as quickly as possible. Less is often more because it opens sight lines and gives the feeling of roominess. Clearing rooms of redundant tables, chairs—even sofas—is an indoor activity with results that become instantly gratifying.

Spates of unpredictable Stuart weather don’t really prove much of an impediment to preparing a Your Stuart home for sale. If you’re close to making that decision, I hope you’ll consider giving me a call to discuss marketing directions. The weather’s perfect!

Stuart FL 34996 Condo Market Report April 2015

05.17.15 by

Stuart FL 34996 Condo Market Report April 2015

Stuart Real Estate Snapshot for ZIP Code 34996, Condo Sales for April 2015

For April 2015 in the 34996 Zip Code area of Stuart, Florida :

There are currently 110 active condo listings (Unchanged from last month).

Stuart FL 34996 Condo Market Report April 2015

55 Condo sales are pending and awaiting close or lender approval (Decreased by 6 condos from March).

Stuart FL 34996 Condo Market Report April 2015

23 Condos Sold in April (Decreased by 13 condos from March) 

Stuart FL 34996 Condo Market Report April 2015

The Stuart FL 34996 Condo Market was very strong for April.  Activity eased slightly from last month’s hot pace, but this is still a strong market with a lot of activity.  While both pending and closed sales were off from last month, this is still a hot area for Stuart condos.

The current absorption rate for the Stuart Florida condos in ZIP Code 34996 – decreased to 4.8 months from March’s 3.1 months .  Still a strong sellers market.  A balanced market is considered to occur when the absorption rate is from 6 to 7 months.

The numbers for April 2014 were: 142 active listings, 46 pending sales and 41 closed sales.  Better closed activity for last year, but with considerably more inventory.  Also, better pending activity this year, which may mean good sales activity in the coming months.

Stuart FL 34996 Condo Market Report April 2015

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Stuart FL 34996 Condo Market Report April 2015