All Entries Tagged With: "Real Estate"

Top 3 Reasons Why Now is the Time to Buy Real Estate

Strong indicators show that we are in the best market to purchase a home. Whether you are interested in buying a home as an investment, as a first time home buyer, or to move up to a bigger home, it doesn’t matter. It’s still a great time to buy for everyone. There are many more reasons why, but to make things easy, I can boil it down to three main factors.

1. Housing prices are declining. The old saying, “buy low, sell high” applies here. There’s no need to wait it out for the lowest price. In fact, waiting it out could do you more harm than good. You will miss a lot of great deals out there waiting for the market to bottom out. Because real estate is for long term investing, your purchase will pay off even if you didn’t buy your home at the lowest point in the market.

2. Mortgage rates are at a low. CBS Financial Analyst, Ray Martin, appeared on the CBS Early Show saying, “Rates on a 30-year, fixed-rate mortgage are at a level we won’t see again in our lifetime.” Be full warned, when housing purchases increase, rates are going increase as well and historically they have increased rapidly.

3. $8,00 First-Time Home Buyer Tax Credit. Buy before December 31, 2009 and you’ll get an $8,000 tax credit if you’re a first-time buyer. Know the definition of a first-time home buyer! You can previously have been a home buyer and still qualify. The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law test the home ownership history of both the home buyer and his/her spouse. See First-Time Home Buyer Tax Credit.

Not sure how to proceed? I’d meet with your mortgage broker and find out what you can afford to buy. Credit score needs some work? No problem, a good mortgage broker can help you improve your credit score. Then, call me. I can help you find the best home at the best price.

Susanne Quirk is a Realtor® with Cobblestone Realty specializing in residential homes in Jupiter, Juno Beach, Palm Beach Gardens, Florida. Contact Susanne at (561) 386-0350, e-mail, or visit our website www.TheJunoBeachRealtor.com to learn more.

Spotlight on Abacoa

Abacoa Town Center

Abacoa is one of the more recent communities developed in Jupiter.  We have been residents of Abacoa for over six years.  We enjoy the close proximity of restaurants, shops, work and school.  It is a young community were the average adult age is approximately 36 yrs.  However, it caters to every age group.  It is a planned community on over 2,055 acres of land, including some areas of greenway preserves throughout the town.

Roger Dean Stadium has become the home for spring training for the St. Louis Cardinals and the Florida Marlins.  The stadium is conveniently located in the heart of Abacoa and brings great family entertainment to our community.  Other fun-filled activities include golfing at Abacoa Golf and family nights at the Abacoa Town Center.  The Abacoa Town Center is filled with retail shops and restaurants.  Most weekends at the town center are filled with live music, movies, and festivals for residents to enjoy.  Other businesses in the area inlude Florida Atlantic University and Scripps Florida Institute.  Since Scripps arrival, Abacoa has become a hub of scientific technology with the following of the Max Planck Society and other scientific institutes from around the world.

There are many community of homes that make up Abacoa.  A wide selection homes are currently for sale.  Prices begin at $84,000 for a condominium at the Village at Abacoa, located directly above the town center shops.  Townhomes in Antigua begin at $154,900 and single family homes start at $305,000 in Paseos and top out at just over $1,300,000 in Valencia.

For more information about the communities in Abacoa, visit our community page about Abacoa or the Abacoa website.

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Buying or Remodeling A Home with Asbestos

The following article is from Jesse Herman, Awareness Coordinator at the Mesothelioma Cancer Center.  It is a great article on the dangers of Asbestos.  Critical information for homeowners and buyers of homes built before 1980.

Abestos Removal and Greener Alternatives

There are many things to consider when remodeling or purchasing an older home. Homes built before 1980 have the strong likelihood of containing asbestos. Due to a steady progression of technology and green sustainable methods, there are many ways to ensure your home or property is asbestos free. If you are interested in saving money, remodeling and improving your carbon footprint, here is some information to get you on the right track.

Used in millions of homes throughout the last quarter of the 20^th century, asbestos insulation can become a real dilemma for homeowners due to causing a variety of health problems, including Peritoneal
Mesothelioma and Malignant Mesothelioma. These types of cancer take the lives of thousands each
year.

Non-regulated asbestos material can be legally performed by homeowners, regular contractors, or licensed asbestos abatement contractors as long as the National Emissions Standards for Hazardous Air Pollutants(NESHAP) are not violated.  Asbestos removal in public facilities, homes and workplaces must be undertaken
by a licensed asbestos abatement contractor. Once the removal is complete, green insulation options should be given serious consideration, such as:  Cellulose, Cotton Fiber and Lcynene.

The United StatesGreen Building Council(USGBC), in a study conducted in 2003, estimated a savings of $50-$65 per square foot for well-constructed green buildings in the U.S. (see table below) during that year. The numbers continue to improve as more eco-friendly options become available, and those kinds of figures have finally begun to attract those who thought eco-friendly construction was just a bunch of hogwash.

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New Residential Community Canopy Creek in Palm City Florida

Kolter Communities has developed a beautiful new community in Martin County. Canopy Creek is located in Palm City, just minutes West on Martin Highway. There are ten beautiful floor plans to choose from. Under air square footage begin at approximately 2,700 with the largest floor plan at approximately 5,700 square feet. Prices start in the $700’s.

Canopy Creek is a quiet, gated community in a serene and very sophisticated setting. Here you will find spacious executive homes on elegantly designed half acre lots. The community clubhouse is equipped with a Kids Corner, Fitness Center, showers and pool.

We visited the model which had some incredible features. The winding staircase was a beautiful and elegant feature and we were impressed with the office with three desks. A great feature for a family with children.

Mike Galleher is our Canopy Creek specialist. Please give Mike a call at 772-285-6637 or email to view the model today. View more pictures of Canopy Creek here.

Palm Beach Gardens Florida Real Estate: Frenchman’s Reserve One of America’s 100 Premier Properties

One of our local communities has been ranked by Links Magazine as one of their 100 Premier Properties for 2008. Not a surprise to us. Clients fall in love at first glance when visiting this upscale golf community. Frenchman’s Reserve is located in Palm Beach Gardens and is a beautiful golf club community with an abundance of amenities in an old world style setting. The homes are a beautifully designed, Mediterranean Revival, inspiration by the 20th century Palm Beach Mansions designed by architect Addison Mizner.

We are proud to have Frenchman’s Reserve as a part of our community.

Please call Joe Quirk (561) 427-9326 if you are interested in viewing homes in Frenchman’s Reserve.

Selling Your Home In 30 Days

By Joe Quirk

Barbara Corcoran was on the Today Show recently with tips to Sell Your Home In 30 Days.  Some good tips to help homeowners focus on the important factors when selling their home and one very misleading tip that I would not recommend.  

1. Go online and shop for your own house.Most homeowners start their research online and that is a great start.  It gives you an understanding of where you are at in the market.  Many sites like Realtor.com, Trulia, and Zillow will allow you to search for current listing for selling prices and prices of recent homes sold.

2.  Find the least expensive 5 houses like yours and price it 5% below those prices.  I find this recommendation to be nothing more than media fluff.  It sounds great to the masses, but this is not a common strategy used among Realtors®.  Current selling prices won’t necessarily place you in the ball park for what the buying market is demanding.  It’s not what the houses are selling for, but what the houses have sold for, when they sold and other factors in the market that determine your selling price. 

We are in a very different market that is changing rapidly.  Pricing a home based on homes sold two months ago may lead you in the wrong direction.  Sellers vary in their reasons for pricing their homes and in a down market it is usually priced high.  Take considerable time in discussing the sale price of your home with your Realtor®.  It is a primary factor on the success of the sale of your home.  Following the advise of your Realtor® will increase the chances of selling your home. 

3.  Get rid of the clutter.  Envision when you walk through a model home.  What do you see?  It is functional – the furniture has a purpose.  Aunt Mary’s extra sofa isn’t sitting in the dining room.  There are pictures, but very few.  As Barbara mentioned,  buyers need to imagine themselves living in your home.  Get rid of the excess family pictures.  You may want to replace picture collections with  framed prints that accent the colors and furniture in your home.  Get rid of all papers.  Go through your closets and store extra linens, etc. elsewhere.

4.  Make your home look picture perfect like a model home.  Provide plenty of light throughout your home.  Buyers purchase homes that have plenty of lighting because it makes your home seem bigger and brighter. 

5.  Clean your home.  Replace old shower curtains and  put fresh towels in your bathrooms.  If you have children, have your Realtor® show your home by appointment only to help relieve the pressure of keeping everything in order all the time.  Hire a cleaning crew if you cannot do the job yourself and always make sure that your home smells inviting. Light a few scented candles and if you have pets, make sure that those odors are eliminated prior to showings

6.  Hire a killer Broker.  At the end of the day, what will get your house seen will be its exposure to the buying market. Your Realtor® will have the ability to show your home to more people in less time than if you try to sell it by yourself. That’s not to say some homeowners don’t sell their homes on their own, but that type of transaction is more probable in a “seller’s market” than the market we are in today.

If your want to sell your house, consider these tips but always contact a Realtor® to represent you .  Feel free to contact us for more information on who may best represent you.

HGTV Designer Offers Her 30 Best Home Staging Tips

The following article is from HGTV.com.  Lisa LaPorta, Designer for hit show Designed To Sell offers some of her tried and true home staging tips to help you sell your home faster.

1.  Grimy bathroom walls are a major red flag to buyers.

Here is an easy way to get rid of surface mold: Mix a spray bottle with one part water and one part bleach. Just spray it on the wall, and watch the mold disappear. Give it a fresh coat of paint, and your grimy bathroom will go from red-flag to red-hot.

2.  Don’t replace a yucky shower door — just scour it.

A grimy glass shower door can really wash out your sale. Instead of replacing it, clean it with a mixture of one part muriatic acid and about 10 parts water. Scrub with steel wool. After wiping it down, reinstall the door, and you’ll have a shower that’ll help you clean up at the open house.

3.  Avoid dated tile by painting.

Bathrooms sell houses, but dated tile in a bathroom doesn’t.  A low-cost alternative to replacing the tile is to use paint. First coat the tiles with a high-adhesion primer. Next, brush on a special ceramic epoxy covering. For a fraction of the cost of new tile, you will have an up-to-date bathroom that brings in big bucks.

4.  Pedestal sinks are a big hit with buyers.

They show off square footage in small bathrooms beautifully. First, your old vanity has to go. Next, just hook up your new sink, and your bathroom will have dramatic appeal that brings in big bucks. Plus, buyers will see how much floor space your bathroom has.

5.  A master bedroom should appeal to both sexes.

When you are selling, your master bedroom should appeal to buyers of both sexes. Get rid of features that seem too gender-specific. Paint the walls a neutral color, and choose bedding that matches. Then accessorize with items that complement the overall color scheme.

6.  Do you have an overpowering brick fireplace that sticks out like a sore thumb?

Here’s an easy way to tone it down with paint. Use a rag or brush to rub a light coat of paint on the bricks, one at a time. This will give them a new tone without covering them completely. And, if you use a paint color that matches the walls, your fireplace will go from sticking out to standing out.

7.  Updating an old fireplace screen is a cheap (and quick) fix.

After removing the screen and wiping it down to get rid of the dust, mask off the windows so you won’t get paint on them. Then, using a can of heat-resistant spray paint, give the screen a facelift. Hold the can about 18 inches away, and use long, even strokes. For less than $5, you will have a fireplace screen that’ll keep your sale from going up in smoke.

8.  Turn an unattractive fireplace into a selling feature.

Need to turn an unattractive fireplace into a selling feature? First, that dated brass screen has got to go. Next, give the fireplace a good cleaning, scrubbing it with soap and water. Then, using a stone color-enhancer, polish the bricks to make them shine. In no time you will have a fireplace that will turn your house into the hottest property on the block.

9.  Stain dated kitchen cabinets instead of replacing them.

Dated kitchen cabinets can be a big turnoff to potential buyers. Instead of paying big bucks to replace them, just stain them. First, apply the stain in even strokes, going with the grain of the wood. Add some stylish new hardware, and your kitchen will have the up-to-date look that buyers love, for less than $200.

10.  Stainless-steel appliances are definitely in with buyers.

Instead of buying a new dishwasher, here is a low-cost way to reface an old one: First, remove the front panels, and clean them. Next, apply a stainless-steel stick-on covering, and cut it to size. For just $20.

11. Fill existing hardware holes instead of making new, unsightly ones.

Removing old kitchen hardware can leave your cabinets with stripped out holes. Here is a trick to reusing the existing ones.
First, dip a toothpick in glue and place it in the stripped hole. Cut off the excess piece. Once the glue dries, you’ll be ready to put in the new hardware that buyers love.

12.  Save money on granite countertops.

Granite countertops are a huge selling feature, but they can be expensive. Here are a few ways to save on this investment:
First, do the demo yourself. Also, ask the vendor for remnants from previous projects. And remember, any money you spend will definitely be returned in the value these beautiful counters add to your kitchen.

13.  New kitchen appliances bring high returns from sellers.

Studies show that new kitchen appliances bring high returns from sellers, so get rid of old appliances that make the rest of the kitchen look dated. Once you install the new equipment, it will scream “new kitchen,” and you will see that spending a little money will make you even more.

14.  Need to dress up a window but don’t want to shell out big bucks for window treatments?

Here’s a trick: use place mats. First, apply a hook-and-loop fastener to the place mats and attach them in a row to a basic curtain rod. Now that the place mats are attached to the curtain rods, pin them together at the bottom, and you’ll have a stylish valance that only costs about $12.

15.  Adding drama to old hardwood flooring is easier than you might think.

First, isolate damaged boards, cut them out, and replace them with new pieces. Rent a sander from a local hardware store, and give the floor a good sanding. The last step is to stain the boards with a rich color, and watch your floor go from drab to dramatic in no time.

16.  Buyers love built-in bookshelves.

There’s a fine line between filling them with clutter and staging them to sell. The trick is to arrange neutral items in clusters. Make sure that no single accessory stands out too much. That way, you’ll show off your attractive built-ins, and not your personal belongings.

17.  Curb appeal is vital to attracting buyers.

Here is how to stop traffic using color. First, with two tones of paint, add a faux finish to any corner keystones. Next, bring out the color of walkway pavers using a stone sealer. Plant flowers in bloom, and you’ll have buyers swarming like bees to your front door.

18.  A nice outdoor deck can be a big selling feature, but an old one is a major liability.

To give your outdoor space new life, first sand the wood. Cover it with a light-colored stain instead of paint to give it a rustic, grainy look. Furnish it for entertaining, and watch your open house turn into a party.

19.  Breathe new life into a worn red brick patio.

Do you have a red brick patio surface that needs to be freshened up? Here is an easy way to give it new life with paint. First, roll a light coat of paint onto the bricks. Next, lightly spray them with water and then dab them before they dry to give them an outdoor look. When you are done, you will have a patio that looks fresh and reels in buyers.

20.  Staging rooms to show off their true potential is essential when selling your home.

Clear out clutter or other personal items that will distract buyers. Paint the walls a neutral tone, and furnish the space to show off how functional it is. When buyers come through and imagine themselves there, you can bet an offer isn’t far behind.

21.  A shabby wood-panel wall is not a strong selling point.

Instead of ripping it out, cover it up. Use wood filler to carefully fill in all the cracks between the panels. Then, use a sponge to wipe away the excess filler. Once it’s dry, paint the room. You’ll see an unattractive wall go from standing out to blending in.

22.  Use tape outlines on the floor instead of actually moving furniture around.

Rearranging a room to stage it for your open house? Here is a tip to save time and effort: Instead of lugging the heavy furniture around the room to see what feels best, put outlines on the floor with painters tape. Arrange the room according to your outlines, and save your energy for counting offers.

23.  Vinyl tile is an inexpensive way to update your home.

Laying vinyl tile is an inexpensive way to update your home, but there’s a right way and a wrong way to do it. You need to avoid laying patterns that look too perfect. Instead, make sure to switch up the direction and placement of the tiles to mix the tones. That way, you end up with a floor that has a natural feel.

24.  Let the sun shine in.

Buyers love light and airy living rooms, but dark and dingy isn’t on their list. Open up your window shades to let some light in. Cheat some sunshine with a light-colored paint and lots of artificial lighting. You can never have too many lamps. Last, arrange the space with lightly colored furniture, and you’ll have a living room that brightens your chances of a sale.

25.  Stage rooms with one purpose so buyers will know what it is. Potential buyers are confused by extra rooms that have a mishmash of uses. To avoid this problem, first clear away clutter and excess furniture. Paint the walls a neutral tone and then furnish the room with a desk to stage it as a home office in which buyers will want to get down to business.

26.  Unpleasant pet odors can make a bad first impression on buyers.

We all love our pets, but unpleasant pet odors can make a bad first impression on buyers. Be sure to get rid of old carpet that can trap offensive smells. Replace it with fresh new carpet in a neutral color. Plus, if you paint the walls to match, your living room will look bigger. It’ll go from designed to smell to designed to sell.

27.  Pack up unnecessary items and furniture before you show the house.

An overpacked living room is a red flag to buyers that your home lacks storage space. Pack up unneccesary items and furniture and move it your garage or a nearby storage facility. Clear the way for a sale by letting buyers see your square footage, not your personal belongings.

28.  Storage space sells!

Potential buyers love homes that have lots of storage space. Since they will open your closets, it’s a good idea to clear out unnecessary clutter, and organize your shelves to show off how much storage you really have. Plus, it gives you a chance to start packing, as you will definitely be moving once buyers see all that closet space.

29.  Create a nice flow in your rooms.

Buyers are attracted to homes that have a good flow. You can create circulation by replacing square or rectangular dining tables with round ones. Cutting the corners adds room to this maneuver and creates a spinoff effect that adds flow to your home — cash flow, that is.

30.  Create a better flow in the house by starting with the floor.

Want to create better flow in your house? Start with the floor. Join two rooms together by using the most cost-efficient material in the book: vinyl tile. First, use a snap-line to create a center point between the two rooms. Next, the fun part — peel and stick the new vinyl tile down, and watch your kitchen and dining room go from old to sold!

Could the New Low Pending Home Sales Stimulate Housing Market?

By Joe Quirk 

There was an article in the Financial Times yesterday defining some market indicators that made me wonder if we are we at a turning point in the housing market.  The article, New Low In Pending Home Sales Offsets Rally in Financials, written by Chris Bryant and Michael Mackenzie, touched on the National Association of Realtors’ announcement that pending home sales dropped to a record low 85.5. 

The fall was much higher than anticipated and an indication that sales might continue to drag in the coming months.  However, there was something else going on in the financial markets.  The S&P Homebuilder Stock Index surged as high as 8.4 per cent.  The reason,  Citi Investment Research said that now is the time to buy into the weak homebuilder sector.  Then, following NAR’s data on pending home sales, it dropped slightly and closed at 5.4 percent higher at 453.31, but still a nice high. 

Homebuilders with strong balance sheets are benefiting the most.  Pulte Homes (DiVosta), DR Horton and Beazer Homes are all prominent builders in Palm Beach County and all three builders are seeing anywhere from 5 to over 12 per cent gains in stock prices.

Does this mean new stimulation for the housing market and a recovery is in sight?  Possibly.  I’m not in the business of predicting the market and don’t have my crystal ball in front of me to give you a definite yes or no.  No one can predict exactly when we will recover.  There are too many variables.  However, we can take a look at all the indicators and see what direction the “experts” are going in.  

Past history can tell us that consumers spend when they are confident about the economy and we are seeing consumer confidence with the current gains in the financial markets.  A strong financial market and an all time low housing market makes for a breeding ground for buyers confidence to spill over into the real estate market. 

The housing market now is a buyers market.  Anyone able to buy a home or investment property should be doing their homework, researching properties and buying.  Don’t go into analysis paralysis as to whether housing prices will go any lower.  Timing the market is a fools game and you will wait forever for a lower price.  Be satisfied that you’re getting a good deal.

Always feel free to contact me if you have any questions about buying or investing in real estate.

Troubled Home Owners Look to a Short Sale for Financial Relief

By Joe Quirk

The mortgage debacle has brought many homeowners to their knees.  What was once an easy solution to reaching their home goals has now become a living nightmare.  Sub-prime loans allowed many buyers to purchase a home with little or no money down.  Those who received an adjustable rate mortgage enjoyed paying low monthly payments on their new homes.  Now their rates are due to increase considerably and many are finding that they are no longer able to make their mortgage payment.

Many financed 100% of their homes and, now because of reasons such as relocation or divorce, are finding that the current housing market has brought the value of their home down and has eroded away all their equity.  Making it impossible to sell their home.

There is hope for home owners wanting to get themselves out from under possible foreclosure.  President Bush recently urged lenders to work with home owners (see Bank Lenders Asked To Work With Borrowers) who have been in good standing up until the mortgage crisis.

Lenders are ready to work with borrowers to find the best possible solution for all parties involved and increasingly Realtors are assisting home owners sell their homes by negotiating a Short Sale with the lender.

A short sale is an agreement between the home owner and their mortgage lender that allows the owner to sell his property at a lower price than what is owed on the mortgage.  “That is too good to be true,” you say.  Well, it is not a simple task that can be handled with just a phone call.  There is an application and approval process that takes place with the lender.  It does take time and work.  However, lenders are approving more short sales since they prove to be the better alternative to foreclosures.

Realtors usually are not aware of the need for a short sale until the home owner sees the market value of their home and realizes that it is not enough to pay off the mortgage.  Typically, home owners are not aware of all the possible solutions they have available to them.  Your Realtor should be able to advise you of all of your options (other options can include repayment plan and loan modifications – please consult with your Realtor or mortgage lender for further details).

This is a trying and difficult time and some home owners find it almost impossible to work through a tough situation such as this.  Your Realtor, with your permission, can always assist you in negotiating with your mortgage lender.  Realize that there are options for you.  Seek the advise of your Realtor as to whether a short sale is the right option for you.