Real Estate Blog - Buyer

Unravelling the Confusion of Closing Costs

 In comparing loans for your new Jacksonville home, keep the following in mind.  Closing costs are split into two main categories: the closing costs controlled by the lender which vary from place to place and closing costs not controlled by the lender that will not be negotiated. 

The Process

You will first obtain a "Good Faith Estimate" of closing costs when talking to a mortgage lender.  It is your right to receive a copy although they may send it to you within three business days of your application.

Remember, the mortgage lender is not the only one charging all of your final closing costs, nor do they know what all the costs will actually be. They will normally give you a higher end estimate based on an educated guess from…

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Pricing your home isn’t as easy as picking one!

Updated 9/8/14 from Conversation on Activerain.com

When you decide to sell your St Augustine home, it is a natural process to deliberate the timing,  develop a plan where to move after the sale, and eventually reach a point where you are finally ready to hire a Realtor to list it.  When you arrive at this crucial point, consider the following facts before you decide to get involved, or allow the professional handle the details of the sale.

Overpricing is Futile

One of the biggest deceptions a seller will fall into is believing that the last appraisal they received during the re-financing of their home is what their house is worth.  Mortgage representatives excel in their positions, and obtain necessary documents to take care of their clients…

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Reduced Closing Fees, No Closing Costs, Seller Will/Won’t Pay - Did You Count the Closing Costs?

Closing Costs are those pesky things that you do not always think about up front when looking for a home or even selling one.  Part of understanding closing costs and how they are determined has to do with governmental taxes, fees for recording of the new deed, fees for the title search to verify that the seller has clear title to sell.  Others may be ‘discount points’ for your loan.  In any case, getting an estimate at the beginning of the process is the best you can hope for. Often times, although a trained professional can perform a close estimation process, even your realtor will not know the exact bottom line until the paper is ready to sign and you have to put the money on the table.

Closing Costs for the Seller

Easy. They take the closing costs…

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Why the cost of building a new home increases annually

All over the country, building costs are rising. Shortage of wood and other construction materials after Hurricane Katrina have affected building costs nationwide, and Jacksonville real estate is no exception. Estimating costs correctly becomes even more important when overall costs are high, because limiting waste will limit cost.

Square Footage

In general, the larger the square footage, the higher the costs. Note, though, that larger buildings cost more, but they cost less per square foot than smaller buildings. When determining square footage, include everything inside the main walls, porches, and walled additions.

Class

Each part of the house is assigned a “class”, from low to high. The class designation depends on the building…

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What is title insurance - and didn’t I buy that at closing?

Title insurance is an insurance policy to cover any losses if it turns out the seller of a property you purchased did not have clear title to do the selling.  Yes, indeed you did buy title insurance - but typically only for your lender.  You have to request and purchase a separate policy for yourself as the new homeowner.

Why Didn’t My Lender Tell Me?

It may have been stated in the loan forms that you were to read, but like much of the ‘boiler plate’ terms of a loan contract some of it just washes over the reader.  It is a lot of information to deal with, and often the buyer skims rather than reads in detail.

Shouldn’t My Realtor Have Told Me?

Yes, and no.  Homeowner title insurance is a voluntary item, even if it is a good idea.  It is…

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Remodel Your Home to Re-New Value and Style

Flip the channel on your television and you will see multiple shows on remodeling, everything from DIY projects to professional designers and even contractors.  Most people have seen several ideas that have sparked the urge to investigate remodeling for themselves.

But Where To Begin….?

Have a look around your home and decide on one project that you want to do from start to finish.  If you are thinking in terms of resale value, then the bathrooms and kitchen are your best features for a remodel.  The return on resale is approximately double the cost of the remodel.

Talk to the local suppliers of materials in Jacksonville homes and start to think about whether this is a job you want to do on your own (if you really are handy) or if it would be…

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Breaking up is Hard to Do…….

…….especially when one of you will need a new home now! Maybe it is time for a fresh start and a relocation is in order. They say that absence makes the heart grow fonder. Where do you start if its time for a relocation?

Your Job

Will your job transfer? Many companies have offices all across the country. If you like your job and the company, your first stop will be Human Resources, to see what may be available in other areas. Polish up your resume, and begin some serious networking. Make an appointment in HR, and get started!

If your company does not have offices anywhere you want to go, begin your job hunt. Post your resume online, using online services like Monster.com or Hotjobs. Utilize online newspapers to check the Want Ads in locations…

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Is It Time to Downsize Your Living Space?

It may be time, for a variety of reasons or circumstance, to change your living arrangements and go from a large home to a smaller one.  A daunting challenge on a good day, and there are many things to consider.  Think about the furniture you have, and what to keep, what to sell or give.

If you have a large extended family, sending some of your collected treasures on to them makes part of this process much easier.  For the rest, especially if you have large collections of specific things you may want to talk with an estate auction service. 

Estate Auction – Not Just For Foreclosure or Heirs

Estate Auction services have people who specialize in valuing and offering your valuables for sale to a good market.  There is no reason the handmade…

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Condominiums - Apartment convenience with some benefits of ownership.

Let us take a closer look at the common questions one may ponder when they entertain the idea of purchasing a condominium.

Good Things

Convenience, no lawn maintenance, shared amenities.

Bad Things

Surrounded by neighbors, no lawn, sharing all the amenities.

But Wait…..

That’s right, some of the good things are also the bad.  The pool, if any, is shared.  You have to schedule private parties that need the big party room.

Some of the bad things are good.  You do not have the luxury of a private rose garden, but then you do not have to weed and mow and edge yourself.

Condo living is for people who do not mind hearing their neighbors through the next wall, above and below.  It is a comfortable space for people who travel a lot, have…

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Making Wise Decisions as a First Time Home Buyer.

This is it, you’ve decided to stop renting and purchase a home.  It’s exciting, and it’s scary all at once.  Big steps, big numbers, mind numbing forms, stacks of contract papers, and still, in the end you have embraced your dream of owning your very first home!

First Steps

Look at what you are paying for rent, determine how much more or less you would be comfortable with for a mortgage payment.  Get that figure firmly in your mind.  Think about it carefully.  Write it down.

Now, hit the yellow pages book or go on-line and look up mortgage lenders.  Interview several.  Talk, ask questions, and if you are not happy with the answers try the next in line.  If none of them give you answers that make you happy, look at your circumstances again and make…

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