Projects That Add Value to Your Home - Part 2

Check out these additions that are sure to add value to your home when you're ready to refinance or sell!

• Solid Core Outer Doors
• Dead Bolt Locks
• Door Bell/Intercom Systems
• Security System
• Motion Activated Exterior Lights
• Storm Doors
• Storm Shutters
• Ceiling Fans
• Overhead Lighting
• Water Purification System 
• Energy Efficient AC System
• Energy Efficient Appliances
• Water Efficient Toilets
• Hidden Fireproof Safe

Renovations and additions are endless. Choosing the right project for your home is toughest decision. For more information on the current market and property listings, visit my website!


Source: Max-Info

Projects That Add Value to Your Home - Part 1

When you're looking to refinance or sell your home, you'll want to get the best offer possible and that may require some renovations to increase the value of your home.

Here are a few ideas that are sure to add value and an extra sparkle to your home:

• Work on the appearance of your yard. Your front yard creates the first impression to potential buyers. Having it neat and clean can score you points!
• New paint or siding can increase property value faster than any other single renovation. 
• Fence in your yard. This creates a larger market for your home, especially for potential buyers who value privacy or who have pets and/or children and need a fenced in yard.
• Landscaping adds personality to your home. Even better than having a clean cut lawn, adding trees, bushes or flowers can make the home feel more welcoming. Just be careful not to go overboard.
• Make sure gutters are in working condition. Clear all gutters of clogs and ensure they are clean. Rusty gutters visible to a potential buyer can be a turn off. 
• Porches and covered decks add major appeal to a home. If funding is available, consider adding a deck in the backyard, great for barbecuing and dinners outdoors!
• A paved or concrete driveway that is free of grease stains and offers ample parking is always a plus! If you don't have the budget to replace the driveway, rent a pressure cleaner to wash away unsightly stains.
• Ample lighting in the home gives potential buyers a secure feeling. Be sure to check bulbs in rooms throughout the house to ensure every light is working. 
• Key rooms to renovate in the home are the bathrooms, kitchen and master bedroom. Any renovations, such as appliance upgrades, can add a great deal of value to your home.

Stay tuned to my blog for more great tips on adding value to your home. And remember, if you're in the market for a new home, visit my website for great listings! 

Source: Max-Info

Bank of America launches Test-and-Learn Program

Florida has become a testing ground for a new pilot program from Bank of America. This program offers extra incentive payouts to homeowners to agree to (and complete) a short sale on their homes.

Incentives range from $5,000 - $20,000 and the program is offered on a limited basis. Because Florida sees a higher percentage of foreclosures than any other part of the country, Bank of America finds it to be the perfect place for launching its "Test-and-Learn" Program.  If the program is successful in Florida, it could be expanded into other states.

Florida homeowners who qualify for the program will receive a mailer from BofA or can learn more about the program from real estate agents who handle the pre-approved short sales for BofA.

To find out if you qualify for the program, you can contact a Bank of America specialist at 877-459-2852, or for more information on the current market and opportunities, visit my website!


Source: DSNews

South Florida Trends - Fall Update

The housing market is always fluctuating. Check out this information about how the market is looking right now!

-Average Home Price - $280-$340,000

-Average Price Compared to Last Year - Up 10-15% or more

-Average Time on Market - 0-30 Days

-Prices As % of Asking Price - 95-100%

-Buyers' or Sellers' Market - Active seller's market

-Multiple Offers on Homes - Yes

-Housing Inventory - Limited

-Greatest Activity - Move-up and relocating buyers. Single-family homes; condos and townhomes

-Reason to Buy/Sell - Single-family homes sell quickly. Condos and townhomes are hard to find.

-Nearest Metro Area - Miami, Fl

-Housing Hot-Spots - Anything on waterfront

For more information on the current market in your area, give me a call or visit my website! 


Source: HouseHunt

Real Estate Vocabulary - F

 

• Federal Housing Administration (FHA) - An agency of the U.S. Department of Housing and Urban Development (HUD). Its main activity is the insuring of residential mortgage loans made by private lenders. The FHA sets standards for construction and underwriting but does not lend money or plan or construct housing. 

• Fee simple estate - An unconditional, unlimited estate of inheritance that represents the greatest estate and most extensive interest in land that can be enjoyed. It is of perpetual duration. When the real estate is in a condominium project, the unit owner is the exclusive owner only of the air space within his or her portion of the building (the unit) and is an owner in common with respect to the land and other common portions of the property. 

• FHA mortgage - A mortgage that is insured by the Federal Housing Administration (FHA). Along with VA loans, an FHA loan will often be referred to as a government loan.

• First mortgage - The mortgage that is in first place among any loans recorded against a property. Usually refers to the date in which loans are recorded, but there are exceptions.

• Fixed-rate mortgage - A mortgage in which the interest rate does not change during the entire term of the loan. 

• Fixture - Personal property that becomes real property when attached in a permanent manner to real estate. 

• Flood insurance - Insurance that compensates for physical property damage resulting from flooding. It is required for properties located in federally designated flood areas. 

• Foreclosure - The legal process by which a borrower in default under a mortgage is deprived of his or her interest in the mortgaged property. This usually involves a forced sale of the property at public auction with the proceeds of the sale being applied to the mortgage debt. 

Stay tuned for more important real estate vocabulary or visit my website for more help on your home search!


Source: RealEstateABC