Does a tankless water heater save money? | FPL Blog

Does a tankless water heater save money? | FPL Blog

Local Fishing Report - South Florida

Local Fishing Report Click Here

Search neighborhood statistics

Another great website to research communities: http://familywatchdog.us/

Great website to search schools in your area!

Check out this great website to do research on schools before buying a home http://www.greatschools.org/

Free Credit Report

Everyone seems to be taking a beating in the credit area these days.  So many homeowners are behind on their mortgage payments.  Here's the only place where can get your credit report for free: Free Credit Report

TIP: Before you even schedule an appointment to see that fabulous home you have had your eye for some time, contact a trusted Mortgage Broker and try to get a referral from a friend.  This is one of the biggest purchases you will be making in your lifetime, so as you would with anything else, shop around for the best rates first.  If you have some credit issues you need to work on you can address them now, not after you start planning where you are putting that couch!

How much does that cost?

I get asked this question quite often when I'm showing homes to buyers.  It's the great house but doesn't have the pool or the bamboo floors they want.  I found this great website that tells you how much these home upgrades cost.  Check it out!

You have a great offer on your home...think again!

The ongoing issues the real estate market is having with appraisals coming in too low has caused more then enough headaches in this market.  Homeowners are unable to sell their homes at the agreed sales price leaving them trapped.

A May 2009 law required that appraisers work independently and without undue influence from mortgage brokers, lenders and real estate agents. Mortgage fraud prosecutors say the overhaul was necessary to curtail conflicts of interest and bloated estimates that contributed to the housing debacle.

The problem with this law is that most lenders now use an appraisal management company which randomly selects appraisers, most of which are not from the area the property is located in.   I haven't had a local appraiser on one of my properties in over a year and they have ALL come in low.

The next big issue is that they are factoring in the foreclosures that are on the market and in terrible condition as compared to a home that has been well maintained.  I rarely walk into a foreclosed property that is in decent condition.  Typically there is mold damage due to the amount of time a home has been vacant without electric and most have been gutted with no appliances or cabinets in some cases the plumbing has been stripped due to vandalism.

Even if you are factoring in short sales with these appraisals, most are empty or have a tenant in place and the homeowner pretty much walks away from the home without any care of the upkeep or how it's being maintained.  Most of my short sale listings are vacant and the homeowner does not have the funds to repair the roof, cut the grass and leave the utilities on.  You have no idea how fast mold can spread in the South Florida heat!

I recently had a listing that was a very well maintained home and we received an offer a little under asking price. The buyers fell in love with the home and were eager to get the ball rolling with their financing and hopefully on our way to the closing table.  I was nervous due to appraisals coming in low and knew this neighborhood was getting hit hard with a lot of foreclosures, all of which were in horrible condition.  Sure enough, the appraisal came back $44,000 less than the agreed sales price.  My sellers were in no position to sell for the appraised price so the deal fell through.  The appraiser was not local and the comparables he used for the appraisal were all foreclosures.

Bottom line, if you are concerned about your homes value and the neighborhood you are in, my advice to you is to do an appraisal up front so you have a good idea of what your home is worth, especially in this crazy South Florida market.   It's well worth the money and can save you a lot of headaches down the road.  Talk to your Realtor about this and I'm sure they would agree!    

If you have any questions feel free to call or email  me or go to my website, you can get me there anytime!