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Did you know...
that Donald Trump is buying up as much real estate as he can right now? Prices are at an all-time low and so are interest rates. It doesn't get any better than this! BUY LOW, SELL HIGH. Learn from the best. FREE COACHING AVAILABLE.
Why is NOW the best time to buy a home?
• It’s a buyer’s market. Price declines over the past few years have made this the best time to buy.*
• The inventory of homes for sale gives buyers incredible selection.
• Real estate continues to be a great financial investment. The average return on a three to five percent down payment over 10 years is usually three to five times greater than stock market returns.*
• The current favorable market conditions won’t last long. Research shows that prices are beginning to stabilize and PRICE DECLINES ARE OVER. We are seeing inventory fall.*
• Mortgage rates are at all-time lows. Capturing these low rates now means your monthly payments are lower and much more affordable.*
• Recent voter approval of Amendment 1 allows Florida homeowners to transfer their “Save Our Homes” tax benefit from their old home to a newly purchased home. Upsizing or downsizing, this is the best time to buy.
*Information courtesy of the National Association of REALTORS®.
WHY PASCO COUNTY & WHY LAND O' LAKES - WESLEY CHAPEL AREA?
Top 3 reasons:
1 - Lower taxes, and lower car insurance!
2 - With the coming of the huge Cypress Creek Mall and Business Center, there will be a great deal of new employment coming to this area. The Wiregrass Towne Center is already here.
3 - All the main north & south highways into Tampa come through some part of Land o' Lakes & Wesley Chapel. Easy access to work in Tampa. It is said you can get just about anywhere in Tampa from Land o' Lakes, or Wesley Chapel in about 30 minutes.
Here's more about Pasco County nationalrealtyconnection.com
***CHANGE YOUR ADDRESS ON LINE ***
www.usps.gov
*** SAVE SOME MONEY ON ENERGY AND WATER ***
energystar.gov
epa.gov/watersense
*** DO YOU WANT TO KNOW 10 WAYS TO SAVE ON YOUR INSURANCE BILL? ***
From Alex Sink our Florida Cheif Financial Officer in charge of the whole budget for the state of Florida.
1) Increase your deductable
2) Actual cost rather than replacement coverage on contents
3) Avoid being over-insured
4) Drop coverage for fences, gazebos, garden sheds
5) Maximize hurricane mitigation credits: hip roof, strap & clips, windstorm shutters, shatter proof windows
6) Burgler & Fire alarm discounts
7) Homes under 10 years old may qualify for 20% discount
8) Be wind-coverage claim free for 2 years can save 5%, nine years saves 20%
9) Group your home auto, boat, policies with the same insurer.
10)Apply for the state's new free inspection program at windcertification.com HURRICANE READY or call 1-800-342-2762. You may be eligible for grants to strengthen your home against future storms.
*** DID YOU KNOW? ***
It may cost you more to close on a Friday, Monday, or just before or after a holiday? For a period of one to five business day or more while the funds are in transit, you may pay interest on the old mortgage and/or the new one... this is also true with a refinance. Don't you think you should minimize the damage by settling in the middle of the week?
WHAT IS A FORECLOSURE?
A foreclosure is a property that the lender or other third party has taken possession of for one reason or another. Usually for non-payment. The lender now owns the property and is in a hurry to sell it.
WHAT IS A SHORT SALE?
A short sale is when a home is sold for less than the seller owes on the mortgage, whether they bought it too high, or refinanced it too high, or lost their job, had to move out of the area, when it sells the payoff to the lender is short, thus the name short sale. A pre-froclosure can be a short sale, though not all short sales are in default yet. A preforclosure means the borrower has stopped making payments and the lender is in the process of taking the home back. The lender would rather have us sell it. If we can sell it before the lender takes possession everyone wins, even the lender because it is very expensive for the lender to own the property.
Ordinarily, with a short sale, you will get a home in much better condition, when compared with bank-owned properties. Realistically, it will take AT LEAST 3-6 MONTHS to close one, once you are under contract, because of the massive amount of short sales the lenders are dealing with and yours will have to wait its turn. You must be patient with a short sale purchase, however, here, you can get one of your best deals around!
CAN WE NEGOTIATE A FORECLOSURE OR SHORT SALE PRICE?
YES. You can.
WHY IS IT BETTER TO BUY A SHORT SALE BEFORE IT BECOMES A FORECLOSURE?
It is so much better to buy a short sale because:
1)you are going to buy a property in good shape, at below appraised value before it goes into foreclosure.
2)you are helping the economy. A Foreclosure has a very negative impact on the economy in many ways.
3)it helps the looks of our neighborhoods, because foreclosures are usually unkept, and in disrepair.
4)Short sale properties are usually in very good condition. Once it becomes foreclosure, the vandals move in and destroy the property.
5)you are helping a family sell their home who is much in need of your help. In most cases it is a real hardship that has forced the sale. Good karma will come from it.
6)many times you don't have to make the costly repairs needed to get a foreclosure back into shape.
So as you can see Short Sales are a great value.
WHAT IS A REO?
REO stands for Real Estate Owned and it means the lender owns the property. It's another name for foreclosure. The lender will list it with a broker. The lender must keep very expensive insurance on the property, utilities, pay the taxes, pay HOA fees, and keep the lawn mowed etc. Vandalism is a problem with these properties. They are usually in very poor condition. The lender usually doesn't want to pay a lot of closing costs that are ususally paid by the seller, and they dont want to help the buyer with any closing costs. But this can be negotiated in sometimes.
CAN WE NEGOTIATE ON REO's?
YES. Lenders don't like to own property... especially damaged property. Make an offer.
WHAT ABOUT NEW HOMES? SHOULD I BUY A NEW HOME NOW?
Be very careful! There are a few builders that are selling their homes at competitive prices in the Land o' Lakes & Wesley Chapel area. Some builders are giving Huge discounts on new homes in their inventory. These are spec homes with popular upgrades, and homes where the buyers were not able to close when the time came. There are all kinds of incentives, but beware. Some incentives come with tax consequences. You can sometimes find more for you money with a short sale or foreclosure property. Many of the builders have to make up the money and they can't let them go like the banks can. Or some of these homes, as soon as you buy you may lose thousands of dollars in equity. Sure, you get to pick your colors, your appliances are all brand new, and no one has ever lived there before you, but sometimes the value is just not there. Make sure you check the area comps before you buy. In order to avoid these traps, you need someone on your side with the knowledge to SAVE you. It is always a good idea to have someone on your side that has done this before. Call me today for more information.
IS IT BETTER TO HAVE A REALTOR WHEN BUYING A NEW HOME?
The right one, YES! One who is experienced dealing with the builders. Have you ever dealt with builders before? Do you know they may SEND YOU A 1099 for "incentives" they "give" you? That means you will pay Fedreral Income Taxes on them next year. Did you know that? Oh, you will sign a paper in the stack that says you know that, but they won't tell you. Do you know you pay about twice as much closing cost on new construction? YOU PAY THE BUYER AND SELLER CLOSING COSTS. And there is more. My best advice is to READ EVERYTHING YOU SIGN. You can't change it but at least you will know what you are getting into. Some builders are negotiable, some aren’t. Some builders you should be very CAUTIOUS of. All of them will treat you better if you ARE WORKING WITH A REALTOR.... because they have to. #1 We know when they are up to something ;-) and #2 We bring them a lot of buyers, they want our clients to be happy.
REMEMBER THIS: The nice people at the model center WORK FOR THE BUILDER, even though they seem to be on your side, they are NOT! You should be CAUTIOUS!!! They don't tell you everything. READ EVERYTHING YOU SIGN... and take me with you.
DOES EXPERIENCE SAVE ME MONEY?
YES! Don't you need someone on your side ... WHO HAS DONE THIS BEFORE? Never buy a new home without a GOOD BUYER'S ABENT who is experienced with builders! Otherwise it can cost you a lot of money.
BUILDERS & YOUR DEPOSIT
Did you know, IF YOU LOST YOUR DEPOSIT TO A BUILDER, you may be able to get it back. ILSA is a Federal Statute that was enacted in the late 1960's. Were you offered a Property Report by the Builder/Developer? If not, you should talk to a lawyer about getting that deposit back along with interest, court costs and attorney fees. Just saving your money whenever I can.
BUT I HAVE TO SELL MY HOME FIRST?
If you are selling a home to buy a new home, I can help you coordinate that, so you are NOT homeless, or stuck with 2 homes in the process.
*** HAVE YOUR ATTORNEY LOOK OVER ALL YOUR PAPERWORK AND EXPLAIN TO YOU WHAT YOU ARE SIGNING BEFORE YOU SIGN ***
Don't have an attorney? Well....Saving you money once again... I have found the most affordable way to have not one but a team of attorneys at your disposal everyday to review your documents, and make recomendations to protect you and to help you be at the top of your game. If you know how to do it, it only costs pennies a day.... It's Pre-Paid Legal. Have your heard of it? Well now you know where to get it.
prepaidlegal.com
There are so many ways WE CAN SAVE YOUR HARD EARNED MONEY.
God bless,
Dee Smith
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