Home Buying Basics

 Home Buying Basics

Buying your home is a very exciting time. In order to keep on track and not let your emotions make your decision; you should prepare and plan.

Factoid: Only 46% of all recent buyers considered themselves "ready to buy" when they purchase their home.

So evidence goes to prove that finding the home of you dreams can happen quicker than you think. And in this market you need to act fast to grab the home you like before it is gone. As the old real estate saying that goes "If you like the home today and you want to think about; just remember someone probably looked at yesterday and have already made their decision."

So how do you prepare for your purchase?

#1 Check Your Credit Score

Amazing enough many buyers…

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1402 Spinnakers Reach Dr | Ponte Vedra Beach Oceanfront Condo | Sawgrass Country Club Penthouse For Sale

Living is easy in this exquisite, generously spacious residence with scenic ocean views.

See the Ponte Vedra Beach Oceanfront Condo virtual tour: http://tours.eastcoastvtours.com/589526?a=1

Ponte Vedra Beach Condo on the Ocean

Come laugh, live and enjoy this most sought after location in Northeast Florida, The Hallmark Oceanfront Condos in Sawgrass, Ponte Vedra Beach. Find priceless panoramic ocean vistas that will not disappoint in this versatile abode that would make the perfect vacation home or your full time residence

The open floor plan encompasses four well-apportioned bedrooms, with plenty of room for relaxation, sleep and storage and three and a half bathrooms. Don't worry about your guest having to share bathrooms where each…

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What Does Multiple Offers Mean? What To Do In Multiple Offer Situation?

What Does Multiple Offers Mean?

When your Realtor tells you that there are Multiple Offers that simple means someone else is also bidding on the property. This could be one other buyer or multiple other buyers.

Usually, the listing agent will give a written notice when a Multiple Offer situation occurs. Along with the notice, you will often receive a "Highest and Best Offer" deadline. The deadline is usually 24 hours from the date of the notice. I am saying "usually" because it is the seller's decision on how they want to react the multiple offers. One offer might be so good that they decide to go ahead and negotiate with them instead of letting everyone know there are multiple offers.

What to do in Multiple Offer Situation?

This means you…

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Why You Should Consider a Condominium

Maybe you had considered a condominium in the past and decided against it. Maybe you just started home shopping. Maybe you don't realize the difference between a townhome and a condo.

Well you should consider a condominium again. There are many advantages to living in a condo. The lower price. The low maintenance. The lifestyle. Take your pick and you can see a condo may be right for you.

To learn more about the advantages of buying a condo please visit our article or click on the infographic below:

To search for condos for sale click here.

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Sink Holes in Jacksonville?

I recently had a client contact their insurance company regarding a house they were interested in the Intracoastal West area of Jacksonville. The out of town insurance company said they couldn't insure the property because it didn't pass their sinkhole test! Well after 20 years helping people buy and sell their homes, I have to say this was a new one for me.

I have had home buyers concerned about mosquitoes, alligators, snakes and even one time our small lizards. But sinkhole?

I am by no means an expert and I gave the client information to contact the local geologist familiar with our area. But this is the information I was able to find online:

1. Sink Hole Map 2008 (none in that area)…

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10 Ways to Prepare for A Home Inspection

This is an addition to the article "Ask the Experts: What Should Home Sellers Do to Prepare for a Home Inspection?”

1. Don’t hide what isn’t working: If an appliance isn’t working, leave a note that indicates what isn’t working and how you’re getting it fixed. Don’t try to conceal defects because it can make the inspector start to view you as dishonest and wonder what else you’re hiding.





2. Make things accessible: Ensure the location of the attic and crawlspace are identified and easy to access. Don’t make a home inspector move your belongings in order to do his or her job. Also, don't forget to leave keys if you have any of the closets locked up.



3. Check the light bulbs: If a light isn’t working, the inspector needs to…

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Setting a Listing Price to Sell Your Home

Now here are two great articles on setting the listing price in detail.

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Rent or Buy? Information You Need to Know...

[VIDEO]

Many people are considering whether they should rent or buy. But your monthly rent is higher than your mortgage payment if you bought a home in all of the largest metros by an average of 38%. Rents have also been rapidly rising. But if you are not worried about the cost than you should consider the wealth building factor. Homeowners net worth is over 30x greater than renters. Learn more about what were the deciding factors for people deciding whether to rent or buy.

In a recent press release, Zillow stated that the affordability of the nation’s rental inventory is currently much worse than affordability of the country’s home sale inventory. The release revealed two things:

1. Nationally, renters signing a lease at the…

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National & Regional Foreclosure Inventory Report [INFOGRAPHIC]

National Foreclosure Statistics Summary

Inventory is down 35% from June 2013. That is 32 consecutive months with year over year decline in foreclosure inventory. Florida is still ranked as #2 State with the Most Foreclosures.

Northeast Florida Distressed Property Summary

There are currently 681 distressed properties on the market in Northeast Florida. The average list price is $152,424. Banks are looking to move these properties fast. So we have seen a good number of these properties with a price reduction in the last 30 days. The average price reduction was 5.41% which is pretty hefty.

Luxury Distressed Property in Northeast Florida

Distressed properties do not mean non-luxury properties. The highest prices distressed home is on the…

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10 Reason to Own Your Own Home (Video)

10 Reason to Own Your Own Home

#1 Paying rent is not a good investment

#2 It motivates you to become a better citizen and engage in important civic activities

#3 You want more living space to move around

#4 It means having a good place to raise children and provide them with a good education

#5 It provides a good financial opportunity

#6 You can select a community where people share your values

#7 It's a symbol of success and achievement

#8 You start building family wealth

#9 It's investing in your retirement

#10 Owning a home provides tax benefits

Learn more about buying a home by clicking here.

Credits: Keeping Matters Currents

The Phyllis Frankel Realty Group specializes in waterfront and luxury property. The realtors have been in…

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