Megan Stone- Realtor

08/08/2023

Step Inside With Me! Presenting this completely renovated modern home nestled in the tropical and highly coveted Hibiscus Island. Situated on a 9,500 SF corner lot, the chic interiors feature an open floorplan with multiple sitting areas. Gorgeous millwork and custom build-ins throughout. A sleek ki...

08/08/2023

I am loving the look of this masculine kitchen on Hibiscus Island 😍 What do you think?

Step Inside With Me! Presenting this completely renovated modern home nestled in the tropical and highly coveted Hibiscus Island. Situated on a 9,500 SF corner lot, the chic interiors feature an open floorplan with multiple sitting areas. Gorgeous millwork and custom build-ins throughout. A sleek ki...

03/16/2018

🌟 Offer Accepted 🌟 Congratulations to my client. We beat out 5 competing offers for this special South Tampa townhouse 🏡 The location is any foodie’s dream with it being within walking distance to both Hyde Park Village & South Howard. Are you ready to buy? I can help. 🙋🏻‍♀️

03/16/2018

Why Do We Wear Green on Saint Patrick's Day?

In Ireland, St. Patrick's Day is a legal public holiday and a day of religious observance for both the Roman Catholic Church and the Church of Ireland. However, the day is perhaps better known for the parties and parades carried on in St. Patrick's name.

The shortest of those parades takes place in Dripsey, Cork and lasts just 100 yards. This parade travels between the village's two pubs.

How did it become a day of celebration in America? In the 1700's Irish immigrants celebrated their heritage with a St. Patrick's Day Parade in New York City, and from there it's grown to epic proportions. We Americans do like an excuse to celebrate!

But what about wearing green? Legend has it that wearing green makes you invisible to Leprechauns - who will pinch you if they can see you. So apparently, school children (and some adults) simply like to pretend that they're Leprechauns on St. Patrick's Day!

So be safe - wear a bit of green on March 17 and avoid those unsightly "pinch bruises!"

I wish you a Happy St. Patrick's Day… and this Irish blessing:

May you always walk in sunshine.
May you never want for more.
May Irish angels rest their wings right beside your door.

Call me any time. I'm always here to help you and yours with real estate concerns - even if you're just curious about the selling price of a home down the street.

02/23/2018

Tampa Home buyers and sellers: Check those HOA documents!

Many, if not most new housing developments, master planned communities, and condominiums are governed by a set of rules set forth by an HOA. If you’re not familiar with the term, HOA stands for Home Owners Association.

Often, the original developer sets forth the initial rules. Then after a set number of homes or condominium units are sold, governance is turned over to a board composed of homeowners, who can make amendments, set fees, etc.

The rules include “Covenants, conditions, and restrictions” designed to protect the residents and maintain the value of the properties.

Whether this is a good thing or a bad thing depends upon your attitude. If you’re an independent sort who wishes to make your own rules regarding your home, buying into an HOA may not be for you.

The Association can impose limits and exercise control over things like:

Hanging a basketball hoop on the garage.
Setting a flag pole
Building a fence
Painting the house
Installing a new screen door
Planting a garden
Planting shrubs
Mowing the lawn
Having pets – or limiting the number of pets
Parking in your driveway
Keeping a boat or a motor home on your property
Having a home business
What this means is that buyers should read the rules and regulations with care before removing contingencies on their purchase agreement.

If you as a buyer would not be happy asking permission to paint your home – and having to submit color samples for approval – you might want to shy away from an association that reserves the right to approve or disallow your plans.

Next – read about the fees. What are they now? What amenities or services are paid for by the fees? Are there any planned increases? Who has the authority to impose increases, and for what purpose?

Remember, there’s no use fighting about it once you’ve made the purchase. That’s a bit like purchasing a home directly under the flight path of an airport and then complaining about the noise. You can complain, but it isn’t going to change a thing.

If you’re selling – you should also read those documents again.

You may find that the HOA has reserved the right to approve of your buyers. If so, your agent needs to know so he or she can warn buyers that they may come under scrutiny by the HOA Board.

In a 2017 case in Florida, a couple with four children made an offer on a 2-bedroom condominium unit. The unit had an office that they planned to convert to a 3rd bedroom. The HOA board said no – they wouldn’t approve the sale of a two-bedroom unit to a couple with four children.

Since it was not a senior living condo, children were allowed, and the court decided that they could not discriminate. The sale went through, but it took an emotional toll on all concerned.

Whether you’re buying or selling here in Tampa, call me. I’ll be happy to do the research for you so you can rest assured that you know the important facts about any existing HOA’s.

02/19/2018

What about that earnest money?

Both buyers and sellers here in Tampa ask questions about the earnest money check. What is its purpose? When is it cashed? Where is the money held? Can the seller have it right away?

The purpose, of course, is to show good faith. It’s also to indicate that the buyer does have the means to go forward with the purchase. The amount varies depending upon customs from place to place.

Here in Tampa the earnest money is usually 1% or more of the purchase price.

The check is cashed as soon as the buyer and seller have come to agreement on the price and terms. Then it is held in a trust account until the closing, when it is applied to the purchase.

The trust account may belong to the brokerage or to the title company responsible for the closing. Either way, the account is for the sole purpose of holding earnest money. Earnest money is never legally commingled with operating funds.

Although the seller might believe he or she should have that money immediately in exchange for taking the house off the market, it doesn’t work that way. It merely acts as a safeguard, telling the sellers that the buyers are serious so taking the house off the market is less risky.

Buyers should take care to see that the account has sufficient funds before writing an earnest money check, since an offer could be accepted immediately and the check cashed the same day.

What if the transaction fails to close? Who gets the money?

The answer depends upon the circumstances and the reason for the failure. If the agreement contained contingencies that cannot be met, the money goes back to the buyer. On the other hand, if the buyer simply says “I changed my mind,” the money would likely go to the seller.

If the seller suddenly changes his or her mind, the money goes back to the buyer.

However, before it comes out of the trust account, both parties must agree to its disposition in writing.

There are numerous reasons why a transaction might fail to close, and thus numerous reasons why the parties might feel that the money "belongs" to them. When they cannot agree, the issue will go to mediation, arbitration, or a full-blown lawsuit.

A purchase and sale agreement is a legal contract, and the terms of that contract should be clearly stated so there is no question about the disposition of the earnest money.

When you choose me to represent you as either a buyer or a seller, I will make sure that your contract terms are complete – with no questions left unanswered and no “gray areas” to give rise to a dispute should your transaction fail to close.

01/22/2018

I am loving this new style. Can you envision yourself living here?

03/28/2016

I am beyond excited about this idea. Can you think of a better backyard?

The gigantic pool will be up to nine feet at its deepest point, more than seven football fields in size, and will have a ultrasonic filtration system.