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5 Steps to Finding Your Next Home

20 Aug FL Mortgage and Loan
20 Aug 5 Steps

Whether you’re a first-time buyer or a seasoned homeowner, shopping for a new home can feel daunting. In fact, 56% of buyers said that “finding the right property” was the most difficult step in the home buying process.

Buying a home is a significant commitment of both time and money. And a home purchase has the power to improve both your current quality of life and your future financial security, so the stakes are high.

Follow these five steps—and complete the corresponding worksheet offered below—to assess your priorities, streamline your search, and choose your next home with confidence.

Set Your Goals and Priorities

The first step to finding your ideal home is determining WHY you want to move. Do you need more space? Access to better schools? Less maintenance? Or are you tired of throwing money away on rent when you could be building equity? Pinpointing the reasons why you want to move can help you assess your priorities for your home search.

Don’t forget to think about how your circumstances might change over the next few years. Do you expect to switch jobs? Have more children? Get a pet? A good rule of thumb is to choose a house that will meet your family’s needs for at least the next five to seven years. Be sure to set your goals accordingly.

Determine Your Budget

Many financial professionals recommend following the “28/36 Rule” to determine how much you can afford to spend on a home. The rule states that you should spend no more than 28% of your gross monthly income on housing expenses (e.g., mortgage, taxes, insurance) and a maximum of 36% of your gross monthly income on your total debt obligations (i.e., housing expenses PLUS any other debt obligations, like car loans, student loans, credit card debt, etc.).

Of course, the 28/36 rule only provides a rough guideline. Getting pre-qualified or pre-approved for a mortgage BEFORE you begin shopping for homes will give you a much more accurate idea of how much you can borrow. Add your pre-approved mortgage amount to your downpayment to find out your maximum purchasing potential.

Choose a Location

When it comes to real estate, WHERE you choose to buy is just as important as WHAT you choose to buy.

Do you prefer a rural, urban, or suburban setting? How long of a commute are you willing to make? Which neighborhoods feed into your favorite schools? These decisions will impact your day-to-day life while you live in the home.

Another important factor to consider is how the area is likely to appreciate over time. Choosing the right neighborhood can raise the profit potential of your home when it comes time to sell. Look for communities that are well maintained with high home-ownership rates, low crime rates, and access to good schools, desired retail establishments, and top employers.4

Decide Which Features You Need (and Want) in a Home

Start with the basics, like your ideal number of bedrooms, bathrooms, and square footage. Do you prefer a one-story or two-story layout? Do you want a swimming pool?

Keep in mind, you may not find a home with all of your “wants,” or even all of your “needs” … at least not at a price you can afford. The reality is, most of us have to make a few compromises when it comes to buying a home.

Some buyers will opt for a longer commute to get a larger, newer home in the suburbs. Others will sacrifice hardwood floors or an updated kitchen so that their kids can attend their desired school.

If you’re faced with a tough choice about how or what to compromise in your home search, return to STEP 1. What were your original goals and motivations for moving? Reminding yourself of your true priorities can often provide the clarity that you need.

Meet with a Real Estate Agent

A good real estate agent can remove much of the stress and uncertainty from the home search process. From setting goals to securing a loan to selecting the best neighborhood to meet your needs, they will be there to assist you every step of the way.

No one has more access to home listings, past sales data, or market statistics than a professional agent. And although we’ve listed it here as STEP 5, the reality is, it’s never too early (or too late) to contact an agent about buying a home. Whether you plan to buy today, next month, or next year, there are steps you can (and should) be taking to prepare for your purchase.

What to Look for When Buying a House

20 Sept Buying a Home a

Article courtesy: Zillow

While everybody knows that buyers shop based on price range, there are many additional considerations to make when looking for a home. And, most buyers end up refining their criteria once they start touring homes. Ultimately, your home criteria should depend on your personal lifestyle and needs. Regardless of what you’re looking for, here are some general rules you should follow to make sure you’ll be happy with the home you buy for the foreseeable future.

What are the top features buyers look for in a home?

Neighborhood wants and needs for buyers

Safety: 82% say a neighborhood that feels safe is very or extremely important

Walkability: 60% say it’s very or extremely important

Preferred neighborhood: 56% say it’s very or extremely important

Proximity to shopping, services and/or leisure activities: 53% say it’s very or extremely important

Optimal commute to work or school: 52% say it’s very or extremely important

Offers a sense of community or belonging: 48% say it’s very or extremely important

Close to family and friends: 46% say it’s very or extremely important

In preferred school district: 43% say it’s very or extremely important

Home Features Buyers Want

Within initial budget: 83% say it’s very or extremely important

Air conditioning: 78% of buyers say it’s very or extremely important

Preferred number of bedrooms: 76% of buyers say it’s very or extremely important

Preferred number of bathrooms: 67% of buyers say it’s very or extremely important

Private outdoor space: 67% of buyers say it’s very or extremely important

Preferred size/square footage: 67% of buyers say it’s very or extremely important

Floor plan/layout that fits preferences: 67% of buyers say it’s very or extremely important

Six Important Questions to Ask Yourself

1. Search for the right price

2. Prioritize the location

3. Think long term

4. Assess property condition

5. Don’t focus on minor cosmetic details

6. Stick with your must-haves

Benefits to Moving to the Treasure Coast

19 July Von Ohlen Photo 1

Many people are seeing the benefits of moving to the Treasure Coast. There is something different for everyone to enjoy and plenty of things to keep you busy. For those that want to relax and enjoy the beautiful beaches, parks and outdoor activities the Treasure Coast is a great choice. Many waterfront properties for sale throughout the Treasure Coast bring Florida living into beautiful reality. You can choose to live on the beach in a condo, townhouse or mansion. Or you can buy a large single family home on the St Lucie River which affords homeowners boat dockage and unlimited fun in the sun.

Treasure Coast Lifestyle
If you are visiting the Treasure Coast for the first time you may be overwhelmed by the number of outdoor activities are available. However, there's so much to do indoors as well. Many folks want to be near shopping, 5-star dining and more. We have some amazing Golf and Country Club communities where you can eat, be social, play outdoors, workout and even eat out all within the security of guard gated access. Places like Evergreen Club in Palm City offer 1 acre home sites and very unique homes. They are built around a world-class golf course that resident members have unlimited access to. If you are on a budget, but still want an amazing value in Martin County then Emerald Lakes in Stuart is a great choice. Here you will find townhouses and single family residences that are a bargain. The community is run by a healthy HOA and the fees are really low (under $250 per month)

Then for those who enjoy being out on the water, our many Yacht Clubs on the Treasure Coast offer amazing memberships. You can even choose to buy a home within a Yacht Club and have year-round access to the water.

How to Create Your Ultimate Outdoor Kitchen

20 July Outdoor Kitchen a

Article by: Natalie Wise

Create a beautiful outdoor cooking space for relaxing and entertaining all summer long.

As summer approaches and temperatures start to rise, no one wants to spend time inside sweating over a hot stove. With an outdoor kitchen, you can make the most of the beautiful warm nights by spending them with your friends and family.

Whether you have thousands to spend or a just few hundred to splurge, create your own outdoor kitchen and enjoy all it has to offer.

Upgrade your grill
A rusty, dusty grill doesn’t inspire lingering outdoor evenings. Upgrade your outdoor grill and take care of it all year round for a stand-out outdoor kitchen. A standard grill will cost you $150 to $300, and top-of-the-line outdoor ranges may be upwards of $1,500.

Before buying the biggest and best grill, consider how you will use one. Will you be feeding the whole soccer team? Or perhaps grilling some steaks for a romantic dinner for two? Look for a grill with features you will actually use and not just the latest trends.

Enhance your seating
If your basics are up to date, then you’ll want to upgrade your patio furniture and seating options too. If you plan on dining outside often, invest in an actual dining table and appropriate chairs. Eating a gourmet dinner off your lap downgrades an otherwise luxurious experience.

If you’re looking for more versatile pieces, sleek contemporary options coordinate nicely with most outdoor kitchen setups. Expect to spend a good chunk of change on quality furniture, but remember: With the proper care and maintenance, it can last as long as high-end interior pieces. Make sure you have a plan for the off-season, whether that’s moving outdoor furniture to indoor storage or securely covering it to protect it from the elements.

Add the extras
Want a prep sink? Wine fridge? Ice machine? Built-in smoker? You got it. The sky’s the limit when it comes to custom additions — or rather, your budget is the limit. Think carefully about your space before making a wish list.

Perhaps a full chef’s kitchen won’t quite fit in your backyard, but a beautiful wine fridge and some extra counter space are just what you need to take your outdoor kitchen to the next level.

Some features require installing or extending utilities (think: water or electricity), so don’t forget about portable additions such as a bar cart — which adds class without hassle.

Make it comfortable
Think about how you will provide amenities to make being outdoors comfortable, such as shade, heat (if using your space year-round), and perhaps even a few extras like a TV or audio equipment.

Tucking the seating close to the house may help you take advantage of a porch or awning. Otherwise, structures such as a light-strung pergola add shade during the day, light at night and atmosphere all the time.

If you have the room, the addition of a fireplace allows for a longer entertaining season. Outdoor kitchens don’t have to be just for summer, after all.

If you like to have some indoor comforts while enjoying your beautiful outside oasis, television and music can be connected outside — although it can be expensive. Bluetooth or portable speakers, a projector and a large sheet, or even an old-fashioned radio are more budget-sensitive options for those looking to add a little fun to their outdoor space.

Apply your own style
Create an outdoor kitchen that suits your style and taste. If you’re working with an existing space, be sure to embrace the style and play up the features, such as dark wood, stone and classic columns.

If you’re starting from scratch, take a look at your indoor design and see what features you like. Then consider incorporating those color schemes, design styles or even furniture shapes into your outdoor kitchen.

While you can’t go wrong designing your outdoor space, consider designs and colors that are versatile so you’re not limited if you want to mix things up in the future.

Make it yours
Your outdoor kitchen should be a comfortable, relaxing space for entertaining or unwinding after a long day of work. Make yours an escape that works for you.

When planning your outdoor kitchen, think about adding one or two small luxuries that will make you excited to enjoy your space. These can be as small as pretty tea lights scattered around or as large as a wood-burning pizza oven.

20 July House Hunting Flyer
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What Is a Property Manager Responsible For?

20 June Property Mgnt

Article by: Erin Eberlin

If a landlord wants help taking care of the daily responsibilities at their rental property, he or she can hire a property manager. A property manager can be hired for one simple task, such as collecting rent, or can be completely responsible for the operations at the rental property.

Here are seven important roles a property manager can take on.

Responsible for Managing Rent

Collecting rent is a basic responsibility of any landlord. Therefore, it is one of the most common jobs a landlord will pass on to a property manager. A property manager's rent responsibilities could include:

Setting Rent: The property manager would set the right rent level to attract tenants to your property. To determine the rent range, the property manager will look the market where the property is located and analyze comparable properties in the area.

Collecting Rent:

The property manager will set up a system for collecting rent from tenants. To ensure optimal cash flow they will set a date to collect rent each month and strictly enforcing late fees.
Adjusting Rent: The property manager can increase the rent each year, according to individual state and/or municipal law. They can also decrease the rent if they feel it is necessary.

Responsible for Managing Tenants

Managing tenants is another core responsibility of a property manager. The property manager may be involved in finding and screening prospective tenants, managing daily complaints and maintenance issues and handing tenant move outs and evictions.

Finding Tenants:

Property managers are responsible for filling vacancies. They will advertise the rental and create a compelling ad. They also understand what attracts tenants, so they can offer tips to help makeover the property.

Screening Tenants:

Property managers should have a consistent screening process, including running credit checks and criminal background checks, which can decrease your chances of tenant turnover. Experienced property managers have seen hundreds, even thousands, of tenants, so they have a better idea of how to select the right tenants; those who will pay their rent on time, have a longer tenancy and create fewer problems.

Handling Leases:

This can include setting the lease term and making sure it has all the necessary clauses to protect the owner. This includes determining the amount of security deposit required.

Handling Complaints/Emergencies:

The property manager may deal with maintenance requests, noise complaints and handling emergency situations.

Handling Move Outs:

When a tenant moves out, the manager is responsible for inspecting the unit, checking for damages and determining what portion of the security deposit will be returned to the tenant. After move out, they are responsible for cleaning the unit, repairing any damages and finding a new tenant.

Dealing With Evictions:

When a tenant does not pay rent or otherwise breaches the terms of a lease, the property manager understands the proper way to file and move forward with an eviction.

Maintenance and Repairs Roles

The property manager must keep the property in safe and habitable condition. Property managers are responsible for the physical management of the property, including regular maintenance and emergency repairs.

Property Maintenance:

This includes performing preventative property maintenance to keep the property functioning in top condition. For example, they are personally in charge of, or must hire someone to, exterminate, check for leaks, landscape, shovel snow and remove trash. This maintenance aims to keep current tenants happy and attract new tenants.

Repairs:

When there is an issue, the property manager must fix the problem or hire someone else to do it. They often have a large network of reliable plumbers, electricians, carpenters and other contractors.5

Knowledge of Landlord-Tenant Law

Good property managers have an in-depth knowledge of statewide and national laws regarding the proper ways to:

Screen a Tenant
Handle Security Deposits
Terminate a Lease
Evict a Tenant
Comply With Property Safety Standards

Supervising Responsibilities

Other Employees:

If there are other employees in the property, such as a concierge or security personnel, the property manager is responsible for making sure they are doing their job. The property manager can set their salaries and even fire them.

Vacant Properties:

Property managers are often hired to look after vacant properties to make sure there has been no vandalism and to perform routine maintenance. They also make sure contractors and other repairmen are completing their work in a timely manner.46

Responsible for Managing the Budget/Maintaining Records

Property managers can be responsible for managing the budget for the building and for maintaining all important records.

Managing Budget:

The manager must operate within the set budget for the building. In certain emergency situations when the occupants (tenants) or physical structure (investment property) are in danger, they may use their judgment to order repairs or likewise without concern for the budget.
Maintaining Records: The property manager should keep thorough records regarding the property. This should include all income and expenses; list of all inspections, signed leases, maintenance requests, any complaints, records of repairs, costs of repairs, maintenance costs, record of rent collection and insurance costs.

Things to Ask and Look Out For When Viewing a House

20 June Things to ask

Article by: Jessica Sweet - Contributing Writer for Out2News

We’ve just spent the past few weeks viewing multiple properties while trying to find our dream home and the first thing that really surprised me was the fact you are usually shown around by the vendor as opposed to the estate agent.

What to Look For
Signs of damp, including looking behind furniture. Damp usually manifests in areas where there’s lots of water vapour so bathrooms, kitchens, dining rooms, utility rooms and areas where the vendors may have been drying clothes

What’s parking like?
Is there enough room for the number of vehicles you have? Is there off road parking? Try visiting in the evening to see if you’d need to park far away from the house

Where is the sun shining and at what time?
It’s preferable to have a garden that’s south facing but it’s a good idea to visit the house at different times of the day to see what rooms get what light and when.

What is mobile signal like in different rooms of the house?
Sounds small but this can be infuriating if you find out that you can’t make mobile phone calls unless you are at the very far end of the garden

Visit at different times of the day to see what the street is like.
Are there undesirables hanging around after dark? Is the street full of vehicles at school pick up time?

Is there a curtain behind the front door?
Is this for aesthetic reasons or because of a draught? Are there portable electric heaters in rooms with radiators? Why?

Try a faucet to check the water pressure.
You do not want to buy a property where it takes two hours to run a bath!

How many plug sockets are in each room?
You don’t want a bedroom with one plug socket right on the other side of the room- how will you charge your phone?!

Go into the garden and just listen.
Is there lots of noise? Traffic? Kids?

You will want to know you can enjoy your garden space.

Out2News/Out2martincounty.com is your online newspaper where you are the reporter and photographer and you report the news! Do you have something to say, an event to a talk about? An event you would like us to have covered. Email your story or request to: rshall@out2martincounty.com

7 Things to Do Before House Hunting

20 June 7 Things

Article by: Robin McDaniel

House hunting can be overwhelming, especially if you’re a first time buyer.

You have to think about the location of the property, square footage, layout, finishes, flooring, and oh yeah — getting a mortgage. The list is endless.

It’s exciting and exhausting at the same time. How do you even know where to start in the process?

Whether you’re hunting for your very first house or your fifth, the process will be much smoother if you have a plan and a house hunting checklist.

If you’re jumping into the real estate market, here are 7 things to do before you start house hunting.

Know Your Credit Score

First things first: don’t go house shopping without getting a mortgage pre-qualification.

Make a Budget

You should decide ahead of time what amount you’re comfortable with paying per month for your mortgage. Then go to your bank for your pre-qualification letter.

Find a Diligent Realtor

The next step is finding a realtor who will work for you. You want someone who will stand up for you in the final walk-through or at the closing table if something doesn’t go right.

Make a List of Needs, Must-Haves, and Wants

You may end up seeing so many properties your head will be left spinning. You might forget some of the things you were looking for in the first place.

Choose Your Location

It’s going to be really hard for your realtor to show you the best housing options for you if you don’t know the area you want to reside in. You’ll end up all over the place if you don’t.

Save an Emergency Fund

If you don’t have an emergency fund saved yet, buying a house isn’t a wise option.

Check Your Emotions at the Door

Buying a house is an emotional process, but do your best to keep your emotions out of it before you make a hasty and unwise decision about a house that’s financially out of your reach.

Even though it’s hard to keep emotions out of it, you need to in order to keep yourself from making a bad decision that could end up affecting you for years, and cost you a ton of money.

No matter what you do, try to make house hunting a fun process, because it should be. It’s not every day that you get to run around shopping for houses, so try to enjoy it! If you follow this checklist, then your house hunting process will be easy and painless.

           5 Minor Remodeling Projects

Jan Remodeling

Whether you’re getting ready to sell your home or just want to make the place you live an oasis, these minor remodeling projects will increase your home value!

Landscaping
Your home’s curb appeal is the first thing visitors see when they get to your home. You can make a strong, positive first impression with some smart landscaping. Consider a variety of plants that reach their peak in each of the four seasons so your yard always looks incredible.

Replace Your Front Door
The front door is one of the first things visitors see. Replacing the door can give your home a more modern, updated, and clean feeling. When choosing your new door, keep the rest of the home’s color and style in mind. Investing in a steel door will provide you with unbeatable durability.

Updated Color Schemes
Paint fades over time and popular color schemes change. Today, neutral tones like beige and grey are popular options throughout the home. Whether you do it yourself or hire a professional, painting your home is a great way to improve the atmosphere of your home.

Remodel Your Fireplace
Highlighting a home feature as iconic as a fireplace can make a dramatic improvement in your home. Some popular remodeling options are replacing outdated brick with modern, natural stone or expanding it to a floor-to-ceiling statement piece.

Add Crown Moulding
Crown moulding adds a touch of sophistication and class to your home. And, you may be surprised at how simple and affordable adding it can be. In addition to framing the rooms of your home, you can use it to highlight key features in your home such as the fireplace, breakfast nook, or bay windows.
Whether you’re planning to stay in your home for many years or getting ready to make a move, I’m here to help. Feel free to contact me with any real estate questions!

Why an Investment Property Should Be Your First Real Estate Purchase

19 Sept Von Ohlen 1

Not ready to buy a home for yourself but want to take advantage of great market conditions? Consider buying an investment property! It's a trend that's taking over real estate, as savvy investors look to put their money in an appreciating asset. Here are five reasons to consider it.

1. Rates are crazy low. Lower rates mean more affordable lending, or more for your money if you choose to reach higher.

2. Because it will appreciate. According to CoreLogic, "The overall home price index (HPI) has increased on a year-over-year basis every month for seven years." The long-term price appreciation of real estate can provide one of the safest investments out there.

3. Because passive income is good. Yes, it's nice to know there will likely be appreciation over time, but the real key to success with investment properties is passive income.

"The best part about rental properties is that they provide a stable income," said Mashvisor. "What would be better than having a check sent to you every month? In order to have positive cash flow, you have to make sure you invest in a profitable rental property."

4. To turn it into a short-term rental. The short-term rental market has opened up a new world of opportunity for investors. By buying in the right location—by the beach, near a ski resort, or in close proximity to a popular annual event like Coachella, you have the potential of making a significant return in a short period of time. Just be sure to check the local laws, as lots of cities have been cracking down on Airbnb and other services.

5. Because it can help you buy the home of your dreams down the line. "Buying an investment property before your first home does not imply that you won't have the funds to purchase your actual home at some point," said Mashvisor. "In fact, investment properties that have been purchased wisely and have grown in value can offer you a sizeable amount of wealth and equity."