Stuart Florida Market Report ZIP Code 34994 – Condo, April 2012

05.11.12 by

Stuart Florida Market Report ZIP Code 34994 – Condo, April 2012

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for April 2012

For April 2011 in the 34994 Zip Code area of Stuart, Florida :

There are currently 147 active condo listings (Up by 4 condos from March).

43 Condo sales are pending and awaiting close or lender approval. (Down 1 from last month)

15 Condos Sold in April (Unchanged from March).

The Stuart Condo market for zip code 34994 showed little change in April with very similar numbers from the previous two months.  We’ve also had the first uptick in inventory in a few months as some sellers may feel the time is right to put their condo on the market.

In April of 2011 the numbers were: Active – 144, Pending – 50 and Sales – 25. Compared to last year, we are slightly below expectations.

Search here for Stuart Florida Real Estate for Sale ( Condos)

Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team

Stuart Florida Market Report ZIP Code 34994 – Condo, April 2012

Stuart Florida Market Report ZIP Code 34994 – Condo, March 2012

04.12.12 by

Stuart Florida Market Report ZIP Code 34994 – Condo, March 2012

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for March 2012

For March 2011 in the 34994 Zip Code area of Stuart, Florida :

There are currently 143 active condo listings (Down by 5 condos from February).

44 Condo sales are pending and awaiting close or lender approval. (Down 2 from last month)

15 Condos Sold in March (Unchanged from February).

The Stuart Condo market for zip code 34994 showed continued momentum in March with very similar numbers from the previous month. Of note, is the fact that the inventory continues to decline while sales and pendings remained steady.

In March of 2011 the numbers were: Active – 144, Pending – 50 and Sales – 25.  Compared to last year, we are slightly below expectations.

Search here for Stuart Florida Real Estate for Sale ( Condos)
For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team

Stuart Florida Market Report ZIP Code 34994 – Condo, March 2012

Stuart Florida Market Report ZIP Code 34994 – Condo, February 2012

03.11.12 by

Stuart Florida Market Report ZIP Code 34994 – Condo, February 2012

Stuart Real Estate Snapshot for ZIP Code 34994, Condo Sales for February 2012

For February 2011 in the 34994 Zip Code area of Stuart, Florida :

There are currently 148 active condo listings (Down by 6 condos from January).

46 Condo sales are pending and awaiting close or lender approval. (Up 13 from last month)

15 Condos Sold in February (Up 4 units from January).

After a pretty slow start to 2012, the Stuart Condo market for zip code 34994 showed some life in February with all trends moving in the right direction.  Noticeable was a significant jump in pending sales. Compared to February of 2011, when there were 141 active listings, 24 pending sales, and 3 closed sales. The inventory is down from last year, but pending and closed sales remain weak in this market segment. This is increasing pressure for additional price drops unless sales can pick up in the latter part of this season.

In the next few months, the peak season for condos will show what the market can bear for 2012 for the Treasure Coast condo market.

Search here for Stuart Florida Real Estate for Sale ( Condos)

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Stuart Florida Real Estate presented by:
the Gabe Sanders real estate team

Stuart Florida Market Report ZIP Code 34994 – Condo, February 2012

Ocean House at Indian River Plantation in Stuart Florida

03.01.12 by

Ocean House at Indian River Plantation in Stuart Florida

One of the newest buildings in the Indian River Plantation, Ocean House, is also the most magnificent.  Consists of 79 Luxury Condos units of either 2 or 3 spacious bedrooms with amenities galore.  All suites have Ocean views, even the first-floor units, which are in actuality the equivalent of being on the third floor as there are two parking levels for residents to enjoy covered parking.

Ocean House has a newly renovated clubhouse area featuring an updated kitchen with granite countertops and stainless steel appliances.  Two flat-screen televisions and free wi-fi for those that need connectivity.

A heated pool and lanai area that’s perfect for lounging close to the beach, or walking down your private access to enjoy the crystal blue waters of your private Atlantic ocean beach.

Barbecue area with a Tiki Hut for those nights that you want to eat out under the stars.

The Marriott Resort at Indian River Plantation Features:

Indian River Plantation consists of numerous condominium associations and buildings.  All styles from Ocean front to Riverfront and Golf and Tennis villas can be found here.  IRP is associated and co-located with the Marriott Resort and Marina.

Tucked away on Hutchinson Island, the Treasure Coast’s 16-mile lush barrier island is a unique resort that greets guests with the warmth of genuine Southern hospitality.

The Hutchinson Island Marriott Beach Resort and Marina stretches across 200 acres of plantation landscape on Hutchinson Island, bordered on one side by the Atlantic Ocean and by the shimmering Indian River on the other side.

A newly remodeled lobby with sweeping draperies, plantation-style wood furnishings and tropical tones sets the stage for a magical golf getaway. This is the gateway to an array of championship and executive courses, including Nicklaus, Fazio, and Player designs.

Golfers of all skill levels will enjoy the challenging fairways and greens found in the area’s 12 courses. Plantation East, the resort’s own course, meanders throughout the island and is characterized by water on 17 of 18 holes. This 4,042-yard, par-61 executive course requires careful club selection and precision shot-making to overcome constantly changing ocean breezes.

This is the gateway to an array of championship and executive courses, including Nicklaus, Fazio and Player designs.

Golfers of all skill levels will enjoy the challenging fairways and greens found in the area’s 12 courses. The Ocean Club, the resort’s own course, meanders throughout the island and is characterized by water on 17 of 18 holes. This 4,042-yard, par-61 executive course requires careful club selection and precision shot-making to overcome constantly changing ocean breezes.

The Hutchinson Island Marriott offers guests and residents two tiki bars and their Signature Restaurant, the Baha Grille. Thirteen Novagrass tennis courts, miles of unspoiled beaches, water sports, deep sea fishing, and a full-service 77-slip marina anchored on the Indian River round out a perfect vacation of sun and fun.

Resort amenities also include three heated pools with sun decks, game rentals from the Activities Hut, two outdoor spas and supervised activities for both children and teens.

Ocean House at Indian River Plantation in Stuart Florida

Hutchinson Island Condos For Sale

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Stuart, Florida Real Estate presented for your consideration by:
the Gabe Sanders real estate team

Jensen Beach Country Club Pool Home – SOLD!

12.28.11 by

Jensen Beach Country Club Pool Home – SOLD!

There’s a new lucky owner of this Jensen Beach Country Club pool home (Eagle Marsh Golf Course) in one of Martin County’s premier neighborhoods.  Lucky enough to buy it at a very affordable price.

A very special and inviting Jensen Beach Country Club home for sale awaits the right buyer wishing a carefree lifestyle in this upscale, yet affordable non-mandatory golf club community. With one of the best locations in Martin County real estate, this guard gated community is just minutes away from the beaches, marinas and waterways of the Treasure Coast of Florida as well as wonderful shopping at the Treasure Coast Mall and adjacent retail and restaurant facilities. This 2000-built Concrete Block home features a bright open plan with 3 BR, 2 BA and a 2 Car Garage. Very private screened pool and lanai that overlook a lovely backyard on a nature preserve. Spacious master suite with tray ceilings and many extras. Eat-in kitchen with breakfast bar and additional dining nook overlooking the pool and lanai. The Eagle Marsh golf course offers many cost-efficient membership options as well as non-member course options as well.

The Jensen Beach Country Club and it’s associated golf course, Eagle Marsh is located in Martin County north of West Palm Beach between Jupiter and Port St. Lucie along Highway 1 near St Lucie Inlet and the Atlantic seacoast. It is just minutes from both the Florida Turnpike and I-95. This once quiet Oceanside town is fast becoming the area’s center for arts, entertainment and recreation with a wide variety of restaurants and shopping to choose from.

Jensen Beach Country Club is truly an oasis nestled in the heart of Jensen Beach with over half of its total acreage dedicated to nature preserves and a championship Tommy Fazio golf course. The community has two clubhouses one featuring a Golf Pro Shop and restaurant with the second showcasing a community swimming pool, tennis courts and facilities for dancing and private parties.

Eagle Marsh is proud to be part of the community and is proud of the organizations surrounding the Golf Course as a whole. Our membership is comprised of some of the finest people around and our members have proven to be supportive, enthusiastic and fun.

The members of Eagle Marsh Golf Club have worked hard to establish and organize both the Men’s Golf Association and the Women’s Golf Association, where throughout the year, enjoy many events and outings which are elegant, exciting and sometimes competitive. Eagle Marsh Golf Club is proud to be considered home for the associations and looks forward to what the future holds.

Eagle Marsh Golf Club is an 18-hole regulation-length golf course. This medium-length layout features 5 sets of tee boxes for the enjoyment of golfers of all skill levels.

Jensen Beach Country Club Homes for Sale

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Jensen Beach Florida Real Estate presented by:

the Gabe Sanders real estate team

Jensen Beach Country Club Pool Home – SOLD!

Home for the Holidays at the Lyric Theater in Stuart, Florida

12.07.11 by

Home for the Holidays at the Lyric Theater in Stuart, Florida

 
Adding to the Christmas cheer in Martin County, Florida, the critically acclaimed singer, Terry Barber returned to the Lyric Theater for the one-night performance of “Home for the Holidays”, on Dec 6th, giving the people of Stuart an enjoyable evening of wonderful holiday music.
Terry Barber, who was accompanied by Lorrianna Colozzo, a Treasure Coast Soprano, enchanted the audience with his celebrated singing style that has been heard in numerous concert halls across the nation including Metropolitan Opera, Carnegie Hall and Avery Fisher Hall. Performing a mixture of standard holiday songs such as “O Holy Night” to more modern tunes such as “Baby it’s Cold Outside” the duo has also invited the national award-winning Jensen Beach High School’s “Jubilate” Choir to accompany them in some heartwarming audience participation standards that got everyone into the spirit of the season.
The Lyric Theater is a not-for-profit organization whose mission is to enhance the cultural arts of the Treasure Coast.  Originally built and opened in 1925, the Lyric Theater began as a silent movie house.  Now, it’s a 500-seat intimate theater with a diverse lineup of entertainment throughout the year.  The Lyric Theater has been named to the National Register of Historic Places.

Home for the Holidays at the Lyric Theater in Stuart, Florida

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Use Skylights To Brighten Rooms

09.05.11 by

Use Skylights To Brighten Rooms

There’s nothing as inviting as natural light inside of what otherwise could be a dark home, filled with artificial lights.  Today’s new styles of skylights can brighten the living room, a windowless bathroom, or especially a dark staircase.  People don’t have to find a light switch and turn it on before they climb the stairs. Skylights are easy additions to your home that not only bring in light but add ventilation. Neat new styles include an electric one that has a rain sensor. It will shut itself off when the rain begins.

Some have solar-power shades that you can operate with remote control. Too much sun? Just press a button and the shade closes.The two most common types are fixed, which don’t open or vent and vented. Vented skylights open to allow air to come in from the outside. They have screens to keep out mosquitoes, but you still get a nice breeze in the evening.Tubular skylights are small tubular openings, also known as sun tunnels. They are great for bathrooms and hallways. They are a good alternative if you want natural light but not the skylight effect.A skylight can be installed in a day for about $500, depending on how much work is involved. It is important to get a qualified company to install the unit. The most common skylight complaint is leaking caused by poor installation.

If it happens, a more experienced installer should be called to correct the problem.

Many Treasure Coast homeowners are replacing old bubble-style skylights with new ones that have great features.

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Jensen Beach Pool Home for Sale in Windemere -SOLD

09.02.11 by


Jensen Beach Pool Home for Sale in Windemere -SOLD

Jensen Beach! Welcome your new neighbors to this wonderful home.  Congratulations!

Beautifully updated custom Pulte-built home in a prime Jensen Beach location. Featuring a spacious open plan with 3 Bedrooms and 2 Baths, a large 2 car garage on a small cul-de-sac street. There’s a large fenced backyard with a pool and covered patio that’s perfect for entertaining or play. A chef’s kitchen that features granite countertops and stainless steel appliances. High ceilings and lots of light from ample windows. Just off the backyard is a small lake that you can enjoy for bird watching or fishing, or take your canoe out for a paddle. This excellent community boasts an ‘A’ rated school system with both the elementary and high schools only a short bike ride away. Close to restaurants, shopping, and beaches. Come and see this great home!
About Windemere and the Pines:

Located adjacent to the new Jensen Beach High School, and Felix A. Williams elementary school, some of Martin County’s best schools, is only one reason why The Pines and Windemere of Jensen Beach is such a desirable place to call home.

Some residents have stated “sending our children to Felix A. Williams is like having a private school in our own back yard.”

In addition to the great schools, The Pines and Windemere are located less than 3 miles from the beautiful unspoiled beaches of Hutchinson Island, a fantastic public golf course is right next door, as well as a regional park that offers little league and soccer and many family attractions. “we can play golf without the high cost just next door.”

For others, the best shops of the Treasure Coast Mall with a new 13-plex theater are also just a short ride away.

Along with its great location, The Pines and Windemere offer its residents beautiful lakefront and nature preserve front home sites at great value. Check available homes by selecting the search below.

See available homes for sale in the Pines and Windemere

Jensen Beach Pool Home for Sale in Windemere – SOLD

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Jensen Beach Florida Real Estate presented by
the Gabe Sanders real estate team

Jensen Beach Pool Home for Sale in Windemere – Under Contract

08.27.11 by

Jensen Beach Pool Home for Sale in Windemere – Under Contract

Beautifully updated custom Pulte-built home in a prime Jensen Beach location. Featuring a spacious open plan with 3 Bedrooms and 2 Baths, a large 2 car garage on a small cul-de-sac street. There’s a large fenced backyard with a pool and covered patio that’s perfect for entertaining or play. A chef’s kitchen that features granite countertops and stainless steel appliances. High ceilings and lots of light from ample windows. Just off the backyard is a small lake that you can enjoy for bird watching or fishing, or take your canoe out for a paddle. This excellent community boasts an ‘A’ rated school system with both the elementary and high schools only a short bike ride away. Close to restaurants, shopping, and the beaches. Come and see this great home!
About Windemere and the Pines:
Located adjacent to the new Jensen Beach High School, and Felix A. Williams elementary school, some of Martin County’s best schools, is only one reason why The Pines and Windemere of Jensen Beach is such a desirable place to call home.

Some residents have stated “sending our children to Felix A. Williams is like having a private school in our own back yard.”

In addition to the great schools, The Pines and Windemere are located less than 3 miles from the beautiful unspoiled beaches of Hutchinson Island, a fantastic public golf course is right next door, as well as a regional park that offers little league and soccer and many family attractions.  “we can play golf without the high cost just next door.”

For others, the best shops of the Treasure Coast Mall with a new 13-plex theater are also just a short ride away.

Along with its great location, The Pines and Windemere offer its residents beautiful lakefront and nature preserve front home sites at great value.  Check available homes by selecting the search below.

See available homes for sale in the Pines and Windemere

Jensen Beach Pool Home for Sale in Windemere – Under Contract

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Jensen Beach Florida Real Estate presented by
the Gabe Sanders real estate team

River Place Waterfront Land in White City, Florida – Price Reduced Again!

08.20.11 by

River Place Waterfront Land in White City, Florida – Price Reduced Again!

4847 River Place – Now only $75,000 for Ocean Access Waterfront

1.04 Acre ocean access waterfront lot in the private River place subdivision of White City. 150′ of water frontage awaiting your dream home. This is a private secluded location that is only minutes from downtown Fort Pierce, the beaches as well as shopping and restaurants. Only 6 miles to the I-95 interchange for easy access to West palm (approx 40 minutes) or Orlando (approx 90 minutes). The adjacent 1.27 acres (ML# 349604) is also available. A special package price is available for both lots which will give you 300′ of waterfront on over 2.3 acres.  Owner financing is available.  The seller is motivated and will look at all offers.

Search for All Treasure Coast Florida Real Estate

River Place Waterfront Land in White City, Florida – Price Reduced Again!

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Treasure Coast Florida Real Estate is presented by:
the Gabe Sanders real estate team

River Place Waterfront Land in White City, Florida – Price Reduced Again!

07.31.11 by

River Place Waterfront Land in White City, Florida – Price Reduced Again!

4847 River Place – Now Only $90,000 for Ocean Access Waterfront Land

1.27 Acre ocean access waterfront lot in the private River place subdivision of White City. 150′ of water frontage awaiting your dream home. This is a private secluded location that is only minutes from downtown Fort Pierce, the beaches as well as shopping and restaurants. Only 6 miles to the I-95 interchange for easy access to West palm (approx 40 minutes) or Orlando (approx 90 minutes). The adjacent 1.04 acres (ML# 349605) is also available which will give you 300′ of waterfront on over 2.3 acres. Special package price available for both lots. The seller is motivated and will look at all offers. Seller financing is also available.

Search for All Treasure Coast Florida Real Estate

River Place Waterfront Land in White City, Florida – Price SLASHED!

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Treasure Coast Florida Real Estate is presented by:
the Gabe Sanders real estate team

River Place Waterfront Land in White City, Florida – Price SLASHED

03.16.11 by

River Place Waterfront Land in White City, Florida – Price SLASHED
4847 River Place – Now only $80,000 for Ocean Access Waterfront

1.04 Acre ocean access waterfront lot in the private River place subdivision of White City. 150′ of water frontage awaiting your dream home. This is a private secluded location that is only minutes from downtown Fort Pierce, the beaches as well as shopping and restaurants. Only 6 miles to the I-95 interchange for easy access to West palm (approx 40 minutes) or Orlando (approx 90 minutes). The adjacent 1.27 acres (ML# 349604) is also available. A special package price is available for both lots which will give you 300′ of waterfront on over 2.3 acres. The seller is motivated and will look at all offers.

More Information and Pictures for this River Place Waterfront Land for Sale

Search for All Treasure Coast Florida Real Estate

River Place Waterfront Land in White City, Florida – Price SLASHED

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Treasure Coast Florida Real Estate is presented by:
the Gabe Sanders real estate team

River Place Waterfront Land in White City, Florida – Price SLASHED!

03.14.11 by

River Place Waterfront Land in White City, Florida – Price SLASHED!
4847 River Place – Now Only $95,000 for Ocean Access Waterfront Land

1.27 Acre ocean access waterfront lot in the private River place subdivision of White City. 150′ of water frontage awaiting your dream home. This is a private secluded location that is only minutes from downtown Fort Pierce, the beaches as well as shopping and restaurants. Only 6 miles to the I-95 interchange for easy access to West palm (approx 40 minutes) or Orlando (approx 90 minutes). The adjacent 1.04 acres (ML# 349605) is also available which will give you 300′ of waterfront on over 2.3 acres. Special package price available for both lots. The seller is motivated and will look at all offers.

Search for All Treasure Coast Florida Real Estate

River Place Waterfront Land in White City, Florida – Price SLASHED!

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Treasure Coast Florida Real Estate is presented by:
the Gabe Sanders real estate team

River Place Waterfront Land in White City, Florida – Price Reduced

03.02.11 by

River Place Waterfront Land in White City, Florida – Price Reduced
1990 Old River Road

Here’s your chance to own waterfront property with ocean access acreage at an affordable price.  Close to schools, downtown and shopping.  This is old Florida at its finest. 1.54-acre private lot on a cul-de-sac has 262 ft of direct frontage on the North Fork of the St. Lucie River with deep water, check bridge clearance. Build your dream home (minimum of 2000 sq. ft. required) in a private, secluded location that is still close to all amenities. The adjoining .75 acre parcel is also available for a potential 2 1/4 acre plus luxury waterfront compound with 500′ on the water.

Search for All Treasure Coast Florida Real Estate

River Place Waterfront Land in White City, Florida – Price Reduced

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Treasure Coast Florida Real Estate is presented by:
the Gabe Sanders real estate team

Indian River Drive Land for Sale in Fort Pierce, Florida – Price Reduced

01.28.11 by

Indian River Drive Land for Sale in Fort Pierce, Florida – Price Reduced
113 Main Street

Secluded .3 acre buildable lot off Indian River Drive (1 block north of Walton Road).  High elevation with sweeping views of the Savannas and possible Intracoastal Waterway views from a two-story home.  Mostly cleared and awaiting the right person ready to build in this superior location.

Search for All Treasure Coast Florida Real Estate

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Indian River Drive Land for Sale in Fort Pierce, Florida – Price Reduced

Treasure Coast Florida Real Estate is presented by:
the Gabe Sanders real estate team

River Place Waterfront Land in White City, Florida – Price Reduced

01.27.11 by

River Place Waterfront Land in White City, Florida – Price Reduced
4847 River Place

1.27 Acre ocean access waterfront lot in the private River place subdivision of White City.  150′ of water frontage awaiting your dream home.  This is a private secluded location that is only minutes from downtown Fort Pierce, the beaches as well as shopping and restaurants.  Only 6 miles to the I-95 interchange for easy access to West palm (approx 40 minutes) or Orlando (approx 90 minutes). The adjacent 1.04 acres (ML# 349605) is also available which will give you 300′ of waterfront on over 2.3 acres.  Special package price available for both lots.  The seller is motivated and will look at all offers.

Search for All Treasure Coast Florida Real Estate

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

River Place Waterfront Land in White City, Florida – Price Reduced

Treasure Coast Florida Real Estate is presented by:
the Gabe Sanders real estate team

River Place Waterfront Land in White City, Florida – Price Reduced

01.24.11 by

River Place Waterfront Land in White City, Florida – Price Reduced
4847 River Place

1.04 Acre ocean access waterfront lot in the private River place subdivision of White City.  150′ of water frontage awaiting your dream home.  This is a private secluded location that is only minutes from downtown Fort Pierce, the beaches as well as shopping and restaurants.  Only 6 miles to the I-95 interchange for easy access to West palm (approx 40 minutes) or Orlando (approx 90 minutes). The adjacent 1.27 acres (ML# 349604) is also available.  A special package price is available for both lots which will give you 300′ of waterfront on over 2.3 acres.  The seller is motivated and will look at all offers.

More Information and Pictures for this River Place Waterfront Land for Sale

Search for All Treasure Coast Florida Real Estate

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

River Place Waterfront Land in White City, Florida – Price Reduced

Treasure Coast Florida Real Estate is presented by:
the Gabe Sanders real estate team

W2 income vs. 1099 income – Questions and Answers

12.12.10 by

W2 income vs. 1099 income – Questions and Answers

Q: Please differentiate between W2 and 1099 income.

A: Typically, a W2 employee is a full employee of a company given a salary versus a 1099 employee where the employer doesn’t pay taxes for the employee AND 1099 employees can write off business expenses.

Q: How does an underwriter view different types of pay structures:

A: W2 salary gets the same pay regardless of world events. That means less uncertainty, and it makes an underwriter happy. For new hires, this is ideal. A new employee can qualify with 30-60 days of pay stubs after starting a new job. However, commission and bonus pay that amounts to 25% or more of one’s income will require tax returns just like a self-employed borrower.

Q: Why is that the case?

A: There is no going-forward guarantee of income. In order to get an idea of what to expect, an underwriter looks at the past two years (24 months) to get an idea of how events are likely to unfold moving forward.

Q: Describe self-employed or 1099 pay qualifications:

A: Up to two years of tax returns are going to be required because, again, there is no guarantee of income and self-employed or 1099 borrowers can write off business expenses that W2 employees typically do not/cannot write off. For instance, one’s income may have been $120,000 in 2009. Come tax season, $60,000 was written off as business expenses. An underwriter interprets that as it cost the borrower $60,000 to make $120,000-meaning the actual income was $60,000.


Here are some examples of different ways one might be paid and what steps are necessary to document the income:

  • W2 salaried income – this is the easiest to document. All that is needed is the past 30 days of pay stubs. If recently moved to a new job in the same field still as a W2 employee, a pay stub reflecting 30 days on the job with an acceptance letter to the new position should do it.
  • W2 base pay with commission/bonus income – if commission/bonus income is less than 25% of the total salary, then the same rules apply as above should apply. If more than 25% of the total salary, then up to two years of tax returns will be required to document the income.
  • Full commission income – up to two years of tax returns will be required. Note that any business expense write-offs on the tax return will lower the income that can be used to qualify you for the loan.
  • Self-employed – two years of tax returns will be required. Again, any claimed business expenses (personal or for the business itself) will reduce the income that can be used to qualify you for the loan.
  • Bonus income – two years of documented bonus income will be required along with documenting its continuance.
  • Same job at the same company but change from W2 salary to commission/bonus income – This is happening more frequently in the business world. Positions that were once salaried are becoming positions with base pay plus commission. If the base salary is sufficient to qualify for the loan, then only pay stubs are required. However, if the commission is also needed to qualify for the loan, then up to two years of tax returns would be required.

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

Treasure Coast Florida Real Estate presented by
the Gabe Sanders real estate team

Tips for Applying for a Mortgage

12.10.10 by

Tips for Applying for a Mortgage

How To Apply

In recent years the loan application process has been greatly simplified, however, proper information from borrowers is still required. Most lenders today are looking for fully-documented loan applications. This may sound intimidating, however, it’s not a big deal. Just take these steps:

  • At least three months BEFORE you finance or refinance real estate get a copy of your credit report. The reason to do this is to check and see if there’s any information on your credit report which is factually incorrect or out-of-date (most negative items can stay on a credit report for seven years, 10 years for a bankruptcy). If you start looking at your credit report three months ahead you should have some time to correct errors. You can get a free credit report with no strings attached by going to AnnualCreditReport.com.
  • Get your paperwork in order. Have in hand your last three pay stubs, your last three tax returns, and statements for all savings and checking accounts, mutual funds, retirement accounts, credit cards, student loans, car loans, etc. Make a file and stick the paperwork in it. You want to show ALL income and you must show ALL debts. When in doubt add it to the file.
  • Ask some questions: Do you expect to receive “bonus” income now or in the future? Do you expect to receive “overtime” income now or in the future Will “other” income in addition to your salary continue at current levels? If you own your home and use it as a prime residence, what’s the estimated fair market value? What’s the value of all financing now secured by your current home if you’re refinancing?

Treasure Coast Florida Real Estate presented by
the Gabe Sanders real estate team

For more information, visit our website or call us at (772) 888-2885.
Our market reports are here!

VA Loans can help veterans achieve home ownership!

10.11.10 by

Florida’s Treasure Coast features dozens of prime locations for veterans to settle down after serving. And there may be no better way to use the VA Home Loan Benefit than to purchase a home along Treasure Coast, in great cities like Stuart and Port St. Lucie, Fla.

Active-duty service members and veterans have exclusive access to the Veterans Affairs Home Loan Guaranty program. Congress enacted the program in 1944 to abet returning World War II veterans in becoming homeowners, and accomplishing a sliver of the American dream.

Military families can use VA loans to buy a new home, refinance an existing home loan, upgrade a home or build on a property. When looking at property on the Treasure Coast, it’s key to remember that the maximum VA loan limit is $417,000. This means qualified service members and veterans can buy a home worth up to that amount at no money down.

Cited by borrowers as the program’s best perk, paying no money down is hard to come by these days. But that’s one of many advantages to the VA home loan program. Another immediate upside is the negotiable interest rate. Since the VA insures up to 25 percent of every VA loan, lenders are willing to lower interest rates. Furthermore, active-duty service members get capped interest rates.

Whether you want a home near Hutchinson Island or one more inland, a VA loan can save money in the long run, too. In addition to competitive interest rates, VA loan borrowers won’t pay private mortgage insurance every month. During the life of a loan, the absence of that monthly cost saves thousands of dollars. Other VA loan benefits include:
-No prepayment penalty
-Rolling a small VA funding fee into monthly payments
-Assistance to borrowers nearing default
-Favorable refinancing options
In addition to VA Loans, a program that can help military personnel afford a quality home is the Basic Allowance for Housing (BAH). When the government doesn’t provide housing to service members, it pays them BAH based on dependency status, pay grade and duty location. The government determines these payments based on civilians’ cost of living in your area.
BAH counts as reliable income, which helps qualify applicants for VA loans. Any form of reliable income makes for a more favorable debt-to-income ratio, which lenders will check before issuing VA loans.

Those who may be eligible for VA loans often fall into one of three categories:
-Service members who served 90 or 180 days of active duty during war or peacetime, respectively.
-Members of the Reserves or National Guard who served for at least six years.
-Spouses of those who died in the line of duty.
The first step in getting a VA loan is completing a Certificate of Eligibility (COE) from the VA or a VA-approved lender. COEs simply confirm that you meet the initial eligibility requirements.
If you’re looking to buy that Treasure Coast home with a breathtaking view, don’t hesitate to apply for a VA loan. The program’s myriad financial benefits make home-buying an enjoyment rather than a stressor.

This post comes to you from James Kelley of VA Benefit Blog. A law school student at the University of Missouri, James Kelley works to educate the public on government financing options for home purchases. He is a co-founder of Military Basebook, a facebook application that helps connect military members based on where and when they served.

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