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There’s good news for buyers and sellers of Lakewood Ranch real estate: The U.S. Economic and Housing Market Outlook that came out the end of February is encouraging. According to this research done by Freddie Mac, both the economy and the housing market are showing cautious signs of recovery.
Here are some of the changes stimulating these improvements in both nationwide and Lakewood Ranch real estate markets:
• Loans that were seriously delinquent or going into foreclosure declined to the lowest quarterly share since the start of 2009, according to the latest Mortgage Bankers Association Mortgage Delinquency Survey.
• In January, existing home sales were at their highest since May 2010, according to the National Association of REALTORS®.
• Job gains have exceeded expectations for the past three months.
• In January, the unemployment rate fell to its lowest since 2009. In December, jobless claims were at their lowest level since 2008.
• Applications for weekly unemployment benefits decreased for the third consecutive week, to 348,000; the fewest since the first week of March 2008.
• Home builder confidence continues to grow.
• Households are paying off their debts and accessing credit more easily.
• Historically low mortgage rates continue. According to Freddie Mac, the national average rate for...
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Many people are downsizing these days, either because they're empty nesters and no longer need the room, they’re getting older and want a smaller space to maintain, or they’re reducing their financial burdens or environmental impact.
If you’ve made the decision to downsize to a smaller Lakewood Ranch home, here are five tips to help you make the transition:
1. Start early: Downsizing to a smaller home is much less stressful if you have plenty of time to sort through your belongings to figure out what you’re getting rid of and what you’re keeping. Plan to do this at least a month before you put your home up for sale. (Bonus benefit: it makes your house less cluttered and more desirable to buyers.)
2. Evaluate your needs: Take an honest look at your lifestyle and what you truly enjoy. Are you really going to learn to play that piano? If you haven’t used it or thought about it in over a year, the answer is probably no. Advertise it in your local newspaper and sell it! With anything you’re having a hard time letting go of, put it in storage for six months. If you don’t think...
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To sell Lakewood Ranch homes, you have to get buyers to want them. So, what do they want? Based on the data just in from the 2011 National Association of REALTORS® Profile of Home Buyers and Sellers, here are what buyers want in a neighborhood in order of importance:
1. 67 percent favor a quality neighborhood
2. 49 percent of buyers said they want convenience to jobs
3. 45 percent look at the overall affordability of homes in the neighborhood
4. 39 percent prefer to live close to family and friends
5. 28 percent of buyers are interested in having shopping close by
6. 27 percent want a quality school district
7. 22 percent ask for a neighborhood that is convenient to schools
8. 21 percent like to live close to entertainment or leisure activities
Assess your neighborhood. Which of the attributes most desired by buyers does your neighborhood have? Showcase those features in the marketing materials for your home:
• Mention the schools, shopping, entertainment and leisure activities that are close to your home.
• Give statistics on the quality of your school district.
Need help marketing your home? We specialize in selling Lakewood Ranch homes. If you’re ready to sell your home, let us market...
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Buying a Lakewood Ranch home is both easier and harder these days. Yes, it’s a buyer’s market, which implies that prices are lower, but there are a few things to do to before buying your home. Purchasing a home is a lot easier when you know how to be a savvy home buyer.
Follow these five tips to get the Lakewood Ranch home of your dreams with less hassle and at a great price:
1. List your home before looking for another home. Contracts contingent on selling your existing home complicate the buying process and reduce your chance of getting a great bargain. Sellers are often unwilling to give any concessions if they have to wait for you to sell your home.
2. Get pre-approved for a loan. Sellers prefer to negotiate with buyers who are pre-approved for a loan large enough to purchase their home. The pre-approval may save you money because you’ll have more leverage to negotiate a lower price. Additionally, you’ll save time by looking exclusively at homes within your price range.
3. Ignore easy-to-change design issues. If the shag carpeting isn’t your style, you can easily change it...
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As real estate agents, we spend a lot of time rushing in and out of Lakewood Ranch homes. It's easy for us to get caught up in the hustle-bustle of real estate transactions, and we forget to slow down to appreciate the pleasures of owning a home. So today, we want to take a moment to reflect on the home aspect of real estate.
Our job (one we love) is to help people just like you find a house that suits their lives. Once you move in, you make that house into a home.
Holiday Traditions
Your Lakewood Ranch home is where you and your loved ones celebrate holidays and where you create and continue family traditions. Whether you deck the halls with layers of tinsel and wreaths or have the whole family over to spin Hanukkah dreidels, the spirit of the season comes from the energy of the people gathering together in your home.
Season of Family Warmth
While you're making your famous sugar cookies or spiking your secret-recipe punch with extra holiday cheer, pause for a moment to enjoy the warmth and beauty of your Lakewood Ranch home....
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Today’s home buyers have a big advantage over buyers from a decade ago: the internet. You can search for homes for sale online as well as find pricing data and instructions on how to buy a home. So, why would you possibly want to hire a Lakewood Ranch real estate agent to help you buy a home?
Here are four surprising and not-so-surprising reasons why hiring a Lakewood Ranch real estate agent will save you time and money when buying a home:
1. Paperwork - Today's real estate contracts run more than 10 pages, and will take you hours to read, comprehend, process and file. Experienced agents handle the paperwork and legal issues for you, minimizing your hassles, headaches and anxiety.
2. House Hunting – It’s a jungle out there! Navigating through the short sales, foreclosures and thousands of homes for sale can be overwhelming. Your agent can streamline that process for you by sorting through many homes and finding the gem that meets all your needs and fits your budget.
3. Goal Achievement – When you have an expert working on your team and looking out for your best interests, you...
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Buying Lakewood Ranch homes when you live in another state or country can be challenging. Here are a few simple ideas to help make things a little less hectic.
• Investigate online. Most people know to search for Lakewood Ranch homes online, but what about searching for a neighborhood? Although you can’t search each and every neighborhood, you can research almost any county or city online. This gives you a pretty good idea of what the area has to offer in the way of schools, shopping and safety.
• Hire a Realtor®. While you’re searching online, your realtor can search the Multiple Listing Service (MLS) for you. She or he can email newly listed properties to you daily.
• Share as much information with your agent as you can. The more you research the area, the more information you are going to have to give to your agent. Talk with your agent and let her or him know what you have found and any areas that you may have decided against. This will save you and your agent time.
• Visit to get a personal impression. If at all possible, after you’ve narrowed the properties down to the top two or...
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You want a new home in Lakewood Ranch, but you’re not sure whether it’s best to build a new one or buy an existing home. The first thing you should do is identify your priorities. Do you dream of a customized house built from the ground up or living in a house already built in an established neighborhood?
Before you make up your mind or put in an offer, take the time to prioritize the following:
• Location - Can you find a lot to build on in your desired location? If not, are you willing to consider a different area if it means you’ll get a house tailored to your specifications? If you’re extremely location focused, you might have to give up the idea of building your perfect house and concentrate on available homes in the area.
• Timeline - How flexible is your timeline? If you absolutely need to be moved into your new home in Lakewood Ranch on a certain date, don’t even think about building. Building a house sometimes extends past the estimated completion date. If your timeline isn’t flexible, it might be time to start...
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At this time of year, as thoughts turn to gobbling down turkey dinners and watching football, it's easy to get caught up in the details and lose the spirit. So today, we want to take a minute to say something important:
Thank you!
Because of you, we have a job we love: being a Lakewood Ranch real estate agent.
Thanksgiving is a holiday of gratitude, and yet too few of us remember that, when we're stuck in traffic going over the river and through the woods to grandma's house for her famous pumpkin pie.
So today, we would like to say again, thank you.
Thank you for contributing to this community, online and in the real world, by asking questions, adding your insights, and trusting us with your housing dreams.
If we've worked together in the past, please know that we are sincerely grateful for your business. We hope the experience of working together led you to your perfect home and fulfilled your real estate goals.
If you are new to this site and just beginning to investigate the sometimes confusing world of real estate, we would like...
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With home prices nearing their bottom, now might be a great time to buy real estate income property. Many more people will be looking to rent now that pre-approved mortgages are harder to come by. But, before you become a landlord, you’ll want to make sure your potential rental property won’t remain vacant for long.
Tips to help you evaluate your real estate investment:
1. Determine if your area has a strong rental market. See what kind of homes are for rent and track how long they remain vacant. If the same properties are listed week after week, it might not be the best area to purchase a rental.
2. Keep an eye on the local Classifieds. Track how many rentals are available at any given time, and get an idea of the size of houses most commonly listed.
3. Make sure your potential rental property is located near amenities that are of interest to renters. For example, supermarkets and schools.
4. Find a house that’s in good shape. Would you live there? If not, either move on to a different property or immediately fix it up.
Owning a rental home can be a great investment. Do your homework, and...
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Whether you’re preparing to sell or buy a Lakewood Ranch home, getting a home inspection is one of the most important steps you can take toward a successful real estate transaction. In order to get a thorough home inspection, you need to hire an experienced, professional inspector.
Here five things to ask before hiring a Lakewood Ranch home inspector:
1. Are you certified? The oldest and largest organization of home inspectors is the American Society of Home Inspectors. Another noteworthy organization is the National Association of Certified Home Inspectors. Both these groups provide training and certification. If a home inspector is certified by either of these organizations, you know you’re getting a qualified inspector.
2. May I see a sample report? Ask the inspector to send you a sample inspection report. If you receive a report that is 4 or 5 pages long, keep looking. This is not the inspector for you. A typical inspection report is 20 to 50 pages long and often includes color photos.
3. How long will the inspection take? You don't want someone who will be in and out in 90 minutes. A thorough inspection should take 2 hours or more depending on the size...
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Buying a home is one of the few occasions in which some form of negotiation is the rule rather than the exception. Just because it is the norm, however, does not mean that most people are good at it.
Here are a few tips to help you negotiate the best deal when buying your next Lakewood Ranch home:
1. Know your bottom line. Determine your bottom line and stick to it. This sometimes means you have to be willing to walk away from a deal. It also means being realistic about what you’re asking from the seller. Many sellers are faced with the fact that their home may not be worth what they paid for it. This puts limits on the concessions a seller can offer.
2. Stay flexible. For example, what if the Lakewood Ranch home you'd like to buy needs a new heating system. The seller is unwilling to replace the unit but is willing to put $3,000 toward your closing costs. The $3,000 you're saving in closing costs...
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While some people are hesitant to buy into a real estate market that seems to still be bottoming out, many studies have shown that owning a house is an investment in your future and that of your community. From tax breaks to property taxes, being a Lakewood Ranch home owner can put money in the bank. It also gives you a sense of pride in contributing to community institutions such as the police force, local government offices, fire stations and free medical services.
Did you know that statistically you and your neighbors are more likely to properly maintain and update your Lakewood Ranch homes when you own them rather than rent them? Maintaining and updating your home boosts the real estate market around you, giving you the chance to increase the value of your property, your neighbors’ property and eventually your entire community.
4 more reasons why you should buy instead of rent:
Building financial security – While it may take many years for you to actually make a...
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Considering deflated real estate values, you might wonder if buying Lakewood Ranch real estate makes good financial sense. According to the National Association of REALTORS® eighth annual Housing Opportunity Pulse Survey, nearly 8 out of 10 respondents believe buying a home does make good financial sense.
Surprised? Let’s examine three reasons Americans believe buying real estate remains a good financial choice:
1. Lower home prices and low mortgage interest rates are making homes more affordable.
2. Almost 7 out of 10 believe that home values have stabilized in their area; the same number expect home sales to remain about the same through the end of the year.
3. The rate of foreclosures is also seen as stabilizing; 51 percent say the rate is about the same as last year.
Another big advantage for you may be the tax benefits of home ownership. You will, as always, be able to deduct the interest you pay, as well as other real estate related items on your income tax return. For...
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Are you a first-time home buyer? There are a lot of things you’ll want to learn before making that first purchase. Here are 9 tips to help you get a Lakewood Ranch home you’ll love and be prepared for additional costs you may not have considered:
1. Ask yourself if you're ready. Are you financially ready to buy a Lakewood Ranch home? Do you have a steady job and income? Do you have money for the down payment?
2. Get pre-approved. When you get pre-approved for a mortgage loan, your lender checks your credit and lets you know the amount of mortgage for which you qualify. Having a pre-approved loan will speed up the process.
3. Identify closing costs. The cost of closing on the sale of your Lakewood Ranch home should be considered. Closing costs may include origination fees, title and settlement fees, taxes and prepaid items such as homeowner’s insurance or homeowner’s association fees.
4. Calculate your total monthly housing cost. Include taxes and homeowners insurance.
5. Include home maintenance expenses in your budget. Consider the expense of maintaining your investment.
6. Find a Lakewood Ranch home. Identify the community you want to...
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According to a recent study, buyers prefer to work with real estate agents who live in the neighborhood in which they want to buy a home, such as Lakewood Ranch. Buyers are happier when they work with local agents because they believe the agents are:
1. Familiar with the neighborhood. They know the schools and zoning laws.They can tell you the best places to shop and give you referrals to the best mechanics and home contractors.
2. Knowledgeable about the Lakewood Ranch real estate market. Local agents know all the neighborhoods, the homes and the amenities.
3. Involved in the community. Agents who are involved in community projects are doing much more than just selling houses. They’re contributing to their community. Wouldn’t you prefer to work with an agent like that?
4. More attentive. When an agent knows they’re going to bump into you in the supermarket or hardware store, he or she is going to give you the very best service possible. He or she wants to ensure that you have no complaints and will give neighbors a glowing review about ...
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Some home buyers have an advantage that others don’t in today’s housing market. They can qualify for an FHA loan.
Federal Housing Administration (FHA) loans help home buyers who would otherwise have trouble being approved for a mortgage. You can qualify for a loan if you have less than perfect credit. FHA loans are available even after bankruptcy and foreclosure, if you have maintained good credit for the following two to three years.
What are the requirements for FHA loans?
FHA loans have strict home appraisal guidelines. The appraisal value helps determine the FHA mortgage limit. Each state has its own rules regarding maximum loan limits.
What are the advantages to FHA loans?
One advantage of an FHA loan is lower down payment requirements. You may qualify for a down payment as low as 3.5 percent of the purchase price of the property. Additionally, most of your closing costs can be included in the loan, so you’ll have less out of pocket expenses.
An FHA loan can also be used to buy a house that needs improvement. If you need cash to make the repairs, you can apply for a loan to cover the cost...
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Searching for the right home takes time and patience. Before you start looking at Lakewood Ranch homes on the market, you need to know exactly what you want in your new home.
Create a list of the features you want in your new home, so you make the most of your time by looking only at Lakewood Ranch homes that meet your criteria. Here is a quick guide to help you create a checklist:
1. Must Have. These are deal breakers; features that you cannot live without. Do you need a certain number of bedrooms? Do you work from home and need an office or maybe even an outside entrance to your home office? Perhaps you have small children or large dogs and need a fenced yard. Decide now what you must have in your new home.
2. Like to Have. Features you would “like to have” are those you prefer but are willing to sacrifice if the home is perfect otherwise. Maybe you’ve always dreamed of having your own...
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If you’re looking for a Lakewood Ranch area home for sale and you’ve never bought a home before, you might think, “This won’t take much time.” Typically, just the opposite is true. Buying a home frequently takes quite a bit of time.
Of course, the whole home buying process will go much faster (and smoother) if you do things the right way. If you’re a first time buyer looking for a Lakewood Ranch area home for sale, take some lessons from the pros. The following tips will help make the buying process fly:
Weigh the Benefits - Before you actually go house hunting, weigh the pros and cons of buying a home. Can you really afford this home? Is it a good idea, or are you caving under pressure from family and friends.
Make sure that you’ve actually considered the alternatives and decided home ownership is the best move for you. In our experience, homebuyers who are sure they’re ready to buy not only enjoy the process ...
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The national and Lakewood Ranch real estate markets are constantly fluctuating, falling somewhere between more inventory and lower prices and less inventory and higher prices. People are often frightened when the home inventory rises, but a declining real estate market may just be the perfect time to find your next home.
Here are 4 reasons why you should consider buying Lakewood Ranch real estate in a down market.1. Inventory. When the market is down, more homes are for sale. This means you have more homes to choose from, which makes it easier to find a home in your dream neighborhood or closer to work or school.
2. Negotiation. There’s a reason down markets are called “buyer's markets.” Sellers want to sell their homes. This means that you have the advantage and can buy a home for a great price. You can also ask the seller for other incentives.
3. Mortgage Rates. When the real estate market begins falling, interest rates get cut. This can mean considerable savings for you over the course of your mortgage. You can even buy a larger home within your price range...
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If you’ve thought about buying a Lakewood Ranch home for sale, you have to be wondering, “Is it ever going to be a good idea?” We understand. There’s an endless stream of media pouring out bad housing news. It’s discouraging to say the least if you’re a homebuyer or a home seller.
Yet, the problem with the news from the home buying standpoint is that it focuses on profit. The media says, “You can’t make a profit from buying a home.” They talk about prices dropping and more homes hitting the market, among other things. What they miss, however, are the real reasons most people buy a Lakewood Ranch home for sale.
It’s your home.
You can do what you want with it. You don’t have to worry about whether painting a mural on the wall will get you an increase in rent. You don’t have to deal with the noisy people who just moved into the apartment above you. You can paint the walls black and nobody can say “Boo” about it, because it’s your home.
Fixed-rate mortgages stay put.
Unlike rent, which can go up...
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If the thought of buying a Lakewood Ranch home or any home in 2011 has even so much as flitted through your mind, here are six New Year’s Resolutions you should consider making:
1. Review your credit reports. To determine the interest rate and terms of your mortgage, lenders pull credit scores from each of the three credit reporting bureaus: Equifax, Experian and Trans-Union. You need to go through all three credit reports and dispute any credit report errors.
2. Establish a good credit rating. To take advantage of today's low interest rates, your credit score should be as high as possible. To improve your credit rating, fix all errors in your credit reports and practice good credit behavior by paying your bills on time and in full each month.
3. Find out how much Lakewood Ranch home you can afford to buy. To determine this, you need to know how much money you have for a down payment and how much money you can borrow. The best way to know how much you can borrow is to get pre-approved for a loan.
4. Shop around for a mortgage....
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Is a home warranty necessary when you buy a home? Isn’t it just an extra expense added on to an already expensive purchase? Not exactly. There are a few things to consider before deciding yes or no.
Type of Home
For example, the type of home you plan to buy makes a difference:
Are you buying a newly constructed Lakewood Ranch home? Any newly built home should already be covered by the builder warranty, at least for a specific timeframe.
Are you buying an older home? If so, a warranty might be the right thing to have.
Are you buying a foreclosure? In this case, a home warranty is an excellent idea.
Homeowners Insurance vs. Home Warranty
Homeowners insurance is different from a home warranty. Insurance covers the home if there’s a natural disaster, fire or theft. On the other hand, a home warranty typically covers:
Air conditioning
Plumbing
Heating
Wiring
Dishwashers
Stoves
As with most contracts, it’s important to read the fine print of any home warranty before buying. Some may only cover an appliance if you pay an extra premium. As well, things like air conditioners may be pro-rated, where the payable amount is based on how...
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Are you tired of looking for a home for sale in Lakewood Ranch? Have you found any that had everything you wanted, but cost too much? Are you dissatisfied with the selection?
A while back, I had a buyer tell me he didn’t want to spend more than $100,000 on a Lakewood Ranch home for sale. He gave me a long list of features he felt the house must have - a pool, a big kitchen, four bedrooms, etc. With it being his market (a buyer’s market), he said, I should have no problems finding a home with those qualifications and that price. He refused to budge on any of it.
You May Have to Compromise
The buyer had read tons of material about it being a buyer’s market. Prices, while not particularly great for the sellers, are great for the buyers. “Thar’s gold in them thar hills.” In other words, there are deals to be had.
It’s all true, but there are limitations to what your money can buy, even now. If you’re getting frustrated, it’s time to ask yourself, “Do I really need a pool, or four bedrooms?”
The legitimate question in all this. Can you compromise? If you want a pool,...
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Buyers are becoming more concerned about their personal environment, from eco-friendly carpeting to energy efficient appliances. If you’re looking for an eco-friendly home for sale in Lakewood Ranch, but aren’t sure how to find it, here are a few tips on what to look for:
Indoor Air Quality (IAQ) – More builders are employing eco-friendly practices during construction. Those that do can qualify for the EPA Indoor airPlus designation. These homes are designed for better IAQ, which means a healthier home for you. Rest assured, if a builder meets this designation they’ll tell you about it. However, just in case – ask!
Energy Efficient – If it qualifies for the EPA Indoor airPlus designation, the home for sale in Lakewood Ranch will also be energy efficient. However, if you’re not looking at a newly built home, look for those homes that are Energy Star efficient. According to the Energy Star website, “These homes are at least 15% more energy efficient than homes built to the 2004 International Residential Code (IRC), and include additional energy-saving features that typically make them 20–30% more efficient than standard homes.”
Eco-friendly...
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Rejection is a hard thing to face in life, whether it’s from a potential client, a potential boss or a potential home seller. As a Lakewood Ranch area home buyer, your stress level might be reduced if you’re aware of some of the reasons a seller may reject your offer.
Before I give you the list of reasons, I’d like to mention that even if you and your buyer’s agent do everything right, the seller may still reject your offer. It frequently has nothing to do with you.
Here are 5 common reasons sellers reject offers on their homes:
1. The offer wasn’t enough for them to pay off their mortgage. For most sellers, the bottom line is paying off their mortgage. If your offer won’t cover the mortgage, they cannot accept it.
2. They may have just been testing the waters to see what they can get for their home.
3. Their plans may have changed. People put their homes on the market because they need to move, they want to upgrade their home, or they can no longer afford their home. If the circumstances change, they may not need to sell their home.
4....
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Have you ever seen a child right after a huge chewing gum bubble pops on his face? A mess everywhere, eyes wide, mouth in an “O” – rather reminiscent of the real estate industry when its own bubble popped. Homeowners panicked and began trying to sell their homes.
As more pushed to unload the instantly unwanted “step child” of homeownership, the real estate market became glutted, resulting in lower sales prices. Two years later, some owners are still trying to sell their homes, still panicking, and still worried about what the future will bring. However, you might be like some homeowners, who are indecisive about selling their homes or who realize they don’t really want to sell.
Stop.
Take a deep breath.
Quit worrying for a moment and ask yourself… Why am I selling?
There are good reasons to sell:
• Your house has become hard to afford.
• You’re getting older and need to move somewhere that doesn’t take as much maintenance.
• You need to relocate for your job.
But there are a lot of not-so-good reasons to sell:
• You’ve read so much about people who have been unable to sell their homes that you became alarmed and put...
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We, meaning the real estate industry, say, “It’s a buyer’s market!” Buyers think that means that deals are available out in the big wide world of Lakewood Ranch area homes for sale. Although that’s true, it’s not the whole truth. The whole truth is that money pits, bad deals and half-hearted sellers still exist. Without careful consideration, you may not get the deal you expected.
If you’re in the market for one of the Lakewood Ranch Area homes for sale, follow these tips to help you get a great deal:
Go back to school. In other words, do your homework. Yes, due to the buyer’s market, you have an advantage, but you still need to do your research. Talk with a real estate agent who specializes in the area and look at the prices of homes sold within the past year. The main point of the research is to find out how much homes are actually selling for in the area in which you want to live, and determine if you can afford to buy there.
Line up the home team. Be prepared to jump on a deal as...
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Lakewood Ranch Condos or Houses: that is the question!
You may be thinking of buying a home but wondering how much space you really need. If you opt to look at houses, your choices are vast. Houses, both large and small, are abundant in today’s real estate market.
Even though Lakewood Ranch Condos are typically smaller than most houses, there are large condos available (even condos larger than houses). And, just like traditional houses, there are a lot of condos available in this buyer’s market.
So, how do you choose? Your selection should be based on your current and near-future needs.
Let’s demystify the differences and clarify your selection:
• Space: Is your family large? Are you planning to add many more? Do you work from home? Consider your plans for the next 5 to 7 years, and buy the size that fits those needs.
• Price: Condos can be more affordable, especially the smaller ones. But, with condos you have to pay condo association fees and other fees associated with the community.
• Location: If you want a condo with a great view, close to work, for example, prepare for a premium. Conversely, many homes with great...
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