My Real Estate Biz

08/17/2023

According to real estate experts, there are a few curb appeal mistakes that could prevent your home from selling at its highest price. Here are the landscaping and front door mistakes to avoid.

02/08/2023

Buying and Selling a Home Simultaneously

As a homeowner, you may at some point, want or need to move to a new home. The optimal situation would be to settle both transactions at the same time or within a few days of each other. Truthfully, it comes down to a little bit of luck and timing. There is always a risk with any home sale or purchase where something could pop up and hold up the simultaneous process. However, there are ways you can prepare yourself for a smoother transition. We've provided a few below.

Ready Your Home for Sale. First, you'll want to make any necessary repairs that could hinder your sale. Leaky faucets, floor/rug stains, holes in walls, or peeling paint are major items you will want to fix before listing your home for sale. De-cluttering the interior and creating an inviting outside curb appeal are also important areas you will want to focus on. Expect a prospective buyer to be looking at everything from the moment they approach the home.

Apply for a Mortgage Pre-approval. Once you've prepared your current home for sale, you will need to know how much you can afford. Your loan officer will help with a pre-approval so when you do find a home, you're prepared to put in an offer. Depending on your financial situation, you may want to consider alternative options. For example, if you need to carry mortgage/expenses from both homes until your home sells or a short-term rental option if your home sells before your new home is ready to move into.

Bid on a Home. Once you have your pre-approval, you can start bidding on homes that fit your budget. To prevent delays and just as you have prepared your home for sale, hopefully, you'll be lucky enough to find a seller who has done the same. Finding a realtor who knows the neighborhood is a great place to start. They will be able to tell you about the home's history if improvements and standard upkeep such as roofing, windows, and siding were made, and when. It's also a good decision to obtain a home inspection. The more information you can gather about the home before you buy, the better you'll position yourself to prevent delays.

Bottom line: Coordination between buyers and sellers is not easy. Having a knowledgeable loan officer/realtor team, preparing your home, and doing research will increase your luck and timing for a smoother transition.

Source: Mortgage Market Guide

02/08/2023

The Dryer Vent: Clean It Yourself or Hire a Pro?

If you're like most homeowners, you probably remember to clean out your dryer lint trap once a load of laundry is dry. The bigger question, though, is do you know the last time you cleaned out the dryer vents that lead from the dryer to the outside of the home?

Why It's Necessary. Dryer fires account for thousands of fires across the country each year, and the leading cause of these fires is inadequately cleaned dryer vents. Dryers that have a buildup of debris and lint can also lead to the accumulation of gases such as carbon monoxide inside the home.

What's Involved. Before you begin, unplug the dryer and pull it away from the wall. Disconnect the dryer duct from the back of the dryer, and remove any lint from the hole at the back of it. Vacuum the inside of the duct via the hose attachment on a vacuum cleaner. Go outside, remove the exterior vent cover, and vacuum this area. Use a flexible brush from a dryer vent kit to thoroughly remove lint buildup. Reattach the ductwork and vent cover, and plug in the dryer.

Yourself vs. a Pro. Most dryers have between 10 to 40 feet of ductwork that might bend and turn along the way. These creases in the ductwork can make it difficult to complete the cleaning on your own, especially if the vents to the roof, even if you have the proper tools. However, if your ductwork is relatively short and the vent is easily accessible, you might be able to complete the task yourself.

If you notice your clothes are taking longer to dry, this might signal that your dryer vents need a thorough cleaning. Cleaning dryer vents is a necessity when you're a homeowner, so take the steps to clean the vents if you can, or hire a professional.
Thank you Gold Star Mortgage

01/03/2023

Good suggestions:

These unfortunate kitchen designs are so common and we don't know why

11/16/2022

The salary needed to afford a home has increased over 55% in the past year as rising interest rates and record-high home prices have put more pressure on buyer’s budgets, the analysis found.

04/19/2021

From $15 million penthouses to million dollar-plus homes and condos yet to be built, luxury South Florida residential sales went off the charts during the first quarter of 2021, with no apparent end in sight.

04/12/2021

Budgeting for Upfront Costs: The Homebuyer’s Guide

While many homebuyers typically budget for their monthly mortgage payment—and include things like Private Mortgage Insurance (PMI) and escrow payments in their planning—there are upfront costs that must also be considered when determining a homebuying budget.

Upfront costs are the one-time expenses you’ll pay after you make an offer on a home and the offer is accepted. Below is a list of the key expenses you should be prepared to cover. The exact amounts you’ll pay will vary, so be sure to speak with your homebuying team about what you should expect for your specific homebuying situation.

What is the difference between closing costs and cash to close?

Closing costs are all the service fees required to close on your loan. Cash to close, on the other hand, is the total amount - including closing costs - that you'll need to bring to your closing.

Down payment (3-20% of the purchase price)

A down payment is typically 5 to 20% of the purchase price of your home - but qualified borrowers can put down as little as 3% with options like Freddie Mac's Home Possible® or HomeOnesm mortgages.

Learn about down payment assistance programs.

Earnest money deposit (1-2% of the purchase price)

Earnest money is a sum of money you submit with your offer to show the seller that you are serious about purchasing the home. It’s also known as a “good faith deposit.” During closing, the amount you pay in earnest money can be applied toward your down payment or closing costs.

Home inspection ($300-$500)

When buying a home, your responsible for paying for the inspection of the home. An inspection will tell you about the home and any potential maintenance issues you should be aware of. Your real estate agent should be able to recommend several well-qualified home inspectors in your area.

Closing costs (2-5% of the purchase price)

Closing costs are what you will pay to the people representing your purchase, including your lender, real estate agent and other third parties involved in the transaction. Also known as settlement fees, closing costs typically include the following:

Government recording costs
Appraisal fees
Credit report fees
Lender origination fees
Title services
Tax service fees
Survey fees
Attorney fees
Underwriting fees
Oftentimes you can roll your closing costs into the loan, so be sure work with your lender to find a solution that best fits your financial situation. Use the Freddie Mac closing costs calculator to estimate what your expenses will be.

Moving expenses (costs will vary)

You could hire professional movers or pack and haul your belongings yourself. Use an online moving cost calculator to estimate your costs based on the method you choose. If you plan to hire a moving company, get quotes from more than one provider. Learn more.

Beyond these upfront costs, you will likely have additional recurring payments rolled into your monthly mortgage payment. Be sure to plan for costs such as PMI and escrow (which typically includes property taxes and homeowners insurance) before diving into homeownership.

For more information on budgeting for homeownership, follow along on our blog or visit My Home by Freddie Mac®.

03/08/2021

Buying a home in South Florida is starting to look like an impossible proposition. We found three real estate experts with tips for succeeding.

02/23/2021

Veteran looking to share a beautiful Townhouse 2/2 w/Garage. Private Bed/Bath Central location Davie RD Ext and Stirling, 5 mins from Ha...

12/24/2020

Sylvester Stallone, like many Californians, is moving to Florida

The star of “Rocky” reportedly paid $35,375,000 for the waterfront spread. The property, listed in “pending sale” status, came on the market in June for $37.85 million. Stallone seems to have snagged a minor discount.

12/21/2020

4 Easy Staging Tips You Haven’t Thought About

Selling can be overwhelming. You're packing everything up, trying to make the house look pristine when all around you is what feels like chaos. Since buyers want that great first impression, you know it's important to declutter—often that means cleaning until your home looks like it's never been lived in. And while you’re rushing around, trying to find a new place for your items, it may seem like an impossible task.

Related: The Five Golden Rules of Home Staging on a Budget

Take a breather—it's actually easier than you think. Here are four staging tips that are so easy they may not have even crossed your mind:

Decorate for the potential buyer. You know who this is because you were once this person! If you're in a starter home neighborhood, the buyer will likely be a younger individual or couple who is looking for more space after cramped apartment living. Pick some trendy paint colors like lilac gray or muted pastels and keep the decor minimalistic and modern. Forget decorating a kid's bedroom and opt for an office layout in the second bedroom instead.

If you're looking to downsize from a, say, four-bedroom house on a cul-de-sac, you're probably going to attract the family crowd. Emphasize your space by decorating according to their needs. Have a finished basement? Amp up the recreational feel with some movie theater loungers or make it a game room!

Think about your neighborhood as well. If you're in walking distance to a dog park, you may find that your buyer has a furry roommate. If your home is near a highly-rated school, that's also an indicator that kids may come with the package for whoever owns your home next.

Use resources. You don't have to take on this process all by yourself. Rent a storage unit so you don't have to worry about hiding away your must-keeps. This way, these items are already neatly packed away and ready for your new home, and they won't get in the way of a buyer who isn't looking to see how bad your shopping addiction is.

Additionally, hire a cleaning company. You can find some relatively affordable options, and this will help you stay stress-free throughout the process. Once it's clean, all you have to worry about is keeping it that way!

Focus on the small accessories. Take a tour of your own home, but with fresh eyes. What do you see that stands out as grungy, old and just a complete turn-off? This can be anything from a sticky, splattered garbage bin that needs a good cleaning to your shower curtain which has a dense layer of soap scum that's going to scare even the bravest buyers away. Replace any small accessories that won't cost you a fortune, and clean anything that can look like new with some TLC.

Use your nose. Again, take a tour of your home, but this time focus on what you're smelling. A better option might be to find a friend or family member who can volunteer to do this for you—someone who doesn't live with you or isn't over all the time. Identify the sources of odor in your home and figure out a solution. The last thing you want is for a buyer to come in and quickly be hit by an unpleasant smell.

The cleaning and decluttering should help with this, but there are other things you can do to ensure your home is a breath of fresh air:

Open up the windows! Let your home air out for an hour or two.
Light some candles to freshen up the rooms.
Bake a cake or some cookies right before a potential buyer comes over.
Staging can be easy if you just put yourself in the buyer's shoes. It is, however, more than just moving around furniture and putting away the excess items. Think back to the tour you took yourself before buying this home. What stood out to you—both good and bad? Think about how it all impacts the senses. Of course, trends change, but the overall feeling of clean and tidy is always the first thing people notice. And customizing your home with some easy staging tricks can make a big difference!
by Liz Dominguez