Watch Your Mortgage

#SIMPLE.SAFE.SOLD!

Recently a person that bought a home freaked out when the taxes were paid by the mortgage company. Yes, that is normal when you escrow funds for taxes and insurance. However, taxes are due every year, and paying them in November will give the homeowner the maxim tax savings. The reasoning that you watch your statements is imperative to keeping track of the funds spent on taxes and insurance. In this person’s case, the taxes went up, and there weren’t enough funds. The mortgage company did pay the bill in November and sent the homeowner a letter. This homeowner will have to make up the difference, in this case, it is about $1,500. The tax bill comes out in Aug/Sept the homeowner should take a look at the new tax and then take a look at the mortgage statement, calculate just home much it will take to pay this bill. Do you have enough or not? This happens when you buy a home and the taxes are based on the past homeowner’s tax bill. The tax authority will reassess the amount based on the cost of the home and the new year’s tax adjustment. 

None of us like to pay taxes but we’re going to anyway. Even if you have your mortgage payment on auto-pay your still responsible. This is the short version and I know that some of us have paid and won’t think about it till next year. If you are not in an escrow position and pay your own, keep your eyes on the taxes next year when the bill comes in.

Reach out to me for your personal questions regarding Real Estate Lifestyle@floridarealestate.blog

Dirty and Falling Apart.

OH MY GOSH – ASK ABOUT YOUR HOME.

Email me at Lifestyle@floridarealestate.blog

Photo by David Bares on Pexels.com

I JUST WENT TO A SELLERS HOME AND WAS OFFERED A CUP OF TEA! That was sweet of her, the problem was the cup was not washed. Don’t worry I was polite, after taking out the 3 tea bags and adding a little milk I took a small sip.

It’s been my experience that not every home has the same upkeep. Depending on the seller/sellers the home is either average, fair, clean, or not so clean. Why do I care? Well as the selling agent it has a bearing on the time frame for selling. Does this affect the price? You bet it does, would you like to have the asking price or go into negotiations? 

It’s not impossible to sell a home that isn’t taken care of, however, some homeowners are not realistic. Without going into the care of a person’s home you can judge this yourself.  Are the rooms picked up? Are the walls freshly painted? Have the walls been painted 25 years ago? How about the carpet when was the last time it was cleaned? Do you have pets? You get the idea. So, is your home dirty and falling apart? To get the most out of selling your home do your own assignment. 

It is our job to help people Sell or Buy a home. As professionals, we take it seriously. We have the latest technology and tools to help you with your Real Estate needs. 

As always feel free to email me with your Real Estate questions. Your questions are confidential.

Self-Made

In the world of general Real Estate, mistakes can be self-made. Choices. What are some of the biggest self-made mistakes? What am I talking about? When you’re getting your home ready to sell let’s take a look at what many sellers find as a common solution. 

Take a look at your home in general. If you’re a person that is obsessed with the running of your household, this isn’t for you. Or is it? I talking about items that not only need to be cleaned I’m thinking about repairs. From my experience as a Seller’s Agent, many sellers like to focus on small items to repair or replace. The most expensive items that are most important to a Buyer are the roof, A/C, foundation, mold, wood rot, windows, and of course the water heater. 

After living in your home you may think that your home is in good shape, but if your home is dated then it most likely needs one or more of the above items. Take a look at the photo’s above, the big companies know what’s keeping them on top of their game. Everything in this park must be running without fail. When you focus on “oh my gosh” it’s going to be a fortune to repair or replace a bigger ticket item, think about time on the market. Time is money, don’t blame your agent because the inspections keeps coming up short. When a buyer does their inspection the big-ticket items will be present, the buyer’s agent will come back to you and ask for those to be repaired or replaced. 

Owning up to the self-made mistakes that others have made, give yourself the edge. If you are not in the position to replace a roof or hot water heater then price the property properly. A buyer won’t mind if he’s getting a fair deal. The buyer can repair or replace items after purchase, most of the time. 

As always, feel free to reach out with comments or questions. Let’s all have a refreshed, Happy New Year!

Capture

Capture the magic of the year!

America stands strong, yet divided.

Capture the best parts of this year!

Let’s come together on 1 goal, Peace, Life and Love! Keeping it #Simple.Safe.Sold.

HAPPY HOLIDAYS!

Intention

As this year comes to a close if you still have a property to sell, but can’t quite decide what to think about, an exchange could be the answer. I have a great contact for the exchange process. This could be a solution.

The housing market has been strong for buyers and sellers. It’s a great time to take advantage of the moving market. If you are an investor and have a few homes in your portfolio, think about selling a tired property and move into a less- tired property. Have your tenants been taking advantage of you? Or have they been great tenants and you don’t want to move them during such a hard time? There are answers. 

10 Top Misconceptions for 2020, provided by Claudia Kiernan. Claudia is a 1031 IPX expert.

  1. Pandemic 1031 Extensions
  2. Replacing Debt
  3. The Term Like-Kind
  4. Vacation and Second Homes Qualify
  5. Reverse Exchange
  6. Partial Exchange
  7. Qualified Intermediary Advice
  8. Identification Rules
  9. Timing Deadlines
  10. Loans, Equity & Tax Basis
Paulaz@WatsonRealtyCorp.com #SIMPLE.SAFE.SOLD
Watson Realty Corp
3675 20th. St.
Vero Beach, FL. 32958
United States
Monday
9:00 am – 5:00 pm
Tuesday
9:00 am – 5:00 pm
Wednesday
9:00 am – 5:00 pm
Thursday
9:00 am – 5:00 pm
Friday
9:00 am – 5:00 pm
Saturday
9:00 am – 5:00 pm
Sunday
Closed

Fixer Upper Buyer Solution

If your in the market for a home that needs repairs but really can’t do the work yourself, here could be the solution. Loan and information provided by Dawn Legue, Loan Officer for PRMG Mortgagte Company.

Photo by Ben Mack on Pexels.com

Renovation Program Comparison Matrix
Revised 09/24/18 Information provided deemed reliable but not guaranteed. Restrictions may apply, see Product Profiles for complete requirements. Information subject to change without notice. Page 1 of 2
Homestyle Renovation 203K Standard 203K Limited
Types of Repairs
• Health and safety, livability
• Structural repairs allowed
• Luxury items allowed
• Health and safety, livability
• Structural repairs allowed
• Luxury items not allowed
• Health and safety, livability
• Structural repairs not allowed
• Luxury items not allowed
Minimum repair
amount
No minimum limit $5,000 No minimum limit
Renovation amount
• Purchase: Maximum renovation costs of
75% of the lesser of acquisition costs (sales
price plus renovation) or after-improved
value
• Refinance: Maximum renovation costs 75%
of the after-improved value
Total renovation costs are
contingent upon the appraised
property value
Total renovation costs may not exceed $35,000
Mixed-use properties Not allowed Allowed Allowed
Property age No age restriction 1-year old 1-year old
Number of contractors General contractor General contractor Maximum of 3 contractors
Self-help Not allowed Not allowed Not allowed
Loan types Fixed rate and ARMs Fixed rate and ARMs Fixed rate and ARMs
Loan limits
(High-Balance available in
applicable areas)
Conventional loan limits FHA county loan limits FHA county loan limits
Transaction types Purchase
Rate/term refinance
Purchase
Rate/term refinance
Purchase
Rate/term refinance
Occupancy types
Owner-occupied
Second homes (1 unit only)
Investment (1 unit only)
Owner-occupied only Owner-occupied only

For more information feel free to contact me at Watson Realty Corp. Vero Beach Florida.

#SIMPLE.SAFE.SOLD

Watch your Mortgage

Recently a person that bought a home freaked out when the taxes were paid by the mortgage company. Yes, that is normal when you escrow funds for taxes and insurance. However, taxes are due every year, and paying them in November will give the homeowner the maxim tax savings. The reasoning that you watch your statements is imperative to keeping track of the funds spent on taxes and insurance. In this person’s case, the taxes went up, and there weren’t enough funds. The mortgage company did pay the bill in November and sent the homeowner a letter. This homeowner will have to make up the difference, in this case, it is about $1,500. The tax bill comes out in Aug/Sept the homeowner should take a look at the new tax and then take a look at the mortgage statement and calculate just home much it will take to pay this bill. Do you have enough or not? This happens when you buy a home and the taxes are based on the past homeowner’s tax bill. The tax authority will reassess the amount based on the cost of the home and the new year’s tax adjustment. None of us like to pay taxes but we’re going to anyway. Even if you have your mortgage payment on auto-pay your still responsible. This is the short version and I know that some of us have paid and won’t think about it till next year. If you not in an escrow position and pay your own, keep your eyes on the taxes next year when the bill comes in. Watch your Mortgage…..

#SIMPLE.SAFE.SOLD

Would you like Real Estate advice or consultation? If you are thinking about Selling or Buying I’m here for you. Florida’s Treasure Coast is my playground. Real Estate is my passion. I’m here for you! The best way to reach me is to start with a sweet email Paulaz@WatsonRealtyCorp.com. Or call 772-567-5226 ask for Paula. Talk to you soon. 

Rentals on the Edge!

Photo by Artem Beliaikin on Pexels.com

How are you handling your rental during all of this chaos? Hopefully, your rent is coming in so you can continue making the mortgage payments. How fortuitous are you? We’ll even if the rent is on time how well is the property being taken care of? Have you been holding onto a property and really you’d like to sell it? All good questions, Is it possible to sell an investment property in this market?

It’s a great time to sell, ask your tenant if they would like to buy the house. If the tenant doesn’t qualify then putting that house on the market is a good idea. There are twists and turns when selling with a tenant in the home, however, it can be done, respectively. 

If your property is managed or if you don’t wish to have a conversation with your tenant then it’s best to hire a professional Realtor.  The Realtor will work out the details between you the tenant and the market. I personally have had great success in handling this type of situation. There is a fine line when showing a home that is still occupied by a tenant that doesn’t want to be bothered. Care and consideration are key when ruffling someone’s feathers. In the end, everyone likes to have a win, win situation.  

Keep in mind if you’re on the edge of making a decision, get the facts first. I don’t mean from your family unless they’re in the business. 

As always keep the questions coming. Happy Holidays!

#SIMPLE.SAFE.SOLD.

Counter Offer!

So would you like to throw in a low ball offer?

Well, you can offer less than asking price? When you do in my opinion be ready for a counteroffer. Depending on the seller’s needs to move on has a lot to do with pricing a property. When I list a property I like to give the seller a price range. We start at the top and have room for negotiations. With that being said the buyers generally come in close to or at the asking price. Asking price has a lot to do with the conditions of the market. There is more that one may think of when placing a home on the market.

What am I talking about? Conditions are all related to the amount of inventory in the area. Conditions can also be related to the condition of the property. Have you ever noticed a home in the area that is in pristine condition or how about the eyesore of the street. Conditions. That’s not considering the interest rate. 

So now let’s take the pristine house throwing in a low offer most likely won’t work or will it? Depending on the buyer’s qualifications, is the buyer asking for concessions? How about the sellers are they in a hurry to sell, even though it may be crazy to ask if the offer is solid it could sell below ask. You need a strong Realtor to negotiate that. All the seller can say is no. 

I have buyers that I’ve worked with over and over they like for me to write a low ball offer to find out where the seller is comfortable. This is generally where the counteroffer comes into play. Make sure if you are lowballing that you give yourself room to maneuver. Don’t stop short for a few bucks.  All while not taking advantage of the seller or buyer, it’s a good way to make this a win, win situation. 

#SIMPLE.SAFE.SOLD

Visit me at Watson Realty Corp. Vero Beach Florida. Looking forward to it!

How to Sell A Home

Are you ready? Are you ready? Selling a home starts with the idea. One day you’re looking around the house and say to yourself, hmmm I think I may need a bigger house or you say this house is too small, too old, too much work. Whatever, it starts with the idea. 

Here’s what typically comes next, how much is this house worth? I know what I owe I’m sure it’s worth a lot more than that. Let’s be real, I would imagine that if you have been in your home for 3 years or more you should have equity. That’s great because you can use that equity to move forward. With the interest rate at such a low, it’s a great time to upgrade. 

Let’s start from there. While you’re in the moment call your Realtor to run the comps for the area. That will give you the correct amount in the area with like houses. I like to research the area with the size of the property, the current Sold properties. I also always go over to the home and look at the condition. Looking at conditions is a real story of how well received the potential buyers will perceive the value in their eyes. I’ve seen listing pictures on the MLS that quite frankly should have never been taken. The difference comes when a room is neat and picked up or a sloppy mess. Clothes all over the floor, dishes in the sink, a full trash bucket. You get the picture. A picture is worth a thousand words.

The better the condition the faster the sale. Next time I will go over functional items such as the roof and a/c. How to sell a home? I like to keep it #SIMPLE.SAFE.SOLD.