Get Your Lakewood Ranch Home Ready To Sell This Spring

February 18th, 2016

Get Your Lakewood Ranch Home Ready To Sell This Spring

Selling a home can be a long process. To maximize your sale price, stand out from the competition, and sell quickly, your Lakewood Ranch home needs to go on the market in pristine condition.

You can’t prep your Lakewood Ranch home in one weekend. It takes time and thoughtful planning. If you’re planning on selling your home this spring, here are a few things you need to do.

Inspect

You need to know your home’s condition before you attempt to sell it. If there are any issues, it’s better to know about them early so you can either fix them or lower your listing price.

Stash

When you’re trying to sell your home, the less-is-more approach applies. Put away big furniture and personal items. Store things you won’t be using until you move into your new home.

Improve

It’s common for sellers to make cosmetic improvements before they list. Kitchens and bathrooms are where buyers look first. Clean the bathroom grout and put fresh paint on the walls. Consider cleaning rugs, refinishing hardwood floors, and painting kitchen cabinets.

Research

Today’s buyers investigate every property throughly. Check with your local building department to make sure there are no outstanding issues with your home. Verify that property records reflect your home accurately, and prepare to remedy any discrepancies.

The sale of your home is likely one of your largest financial transactions. Hire a real estate agent early, and make a list of all the tasks you need to complete before listing your home. Smart planning and strategic thinking will ensure a quick, painless and profitable home sale.

Contact our team today to get your Lakewood Ranch home ready to sell this spring. As the weather heats up, so does the market. And we will be looking at a very hot 2016 so preparing now will help you out in the long run!

Why Should You Move To Florida?

February 11th, 2016

Why Should You Move To Florida?

 

MovingAcrossAmerica2016-KCM1

Some Highlights:

  • This is the fourth year that the Northeast has seen a concentration of high outbound activity
  • Florida is one of the top inbound states ranking at number 6
  • Boomers tend to relocate to warmer climates when they retire which explains a lot of this outbound activity

Are you moving soon? Contact us today so we can help you sell your home!

Why You Should Own A Sarasota Home

February 4th, 2016

Why You Should Own A Sarasota Home

We have stated many times that the American Dream of owning a Sarasota home is alive and well. The various reasons to own differ for each buyer.

Eric Belsky, the Managing Director of the Joint Center of Housing Studies at Harvard University, discussed the top 5 financial benefits of Sarasota home ownership in his paper -The Dream Lives On: the Future of Homeownership in America.

Here are the five reasons, along with several excerpts from the study.

1.) Housing is usually the one leveraged investment available.

“Homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. Even a large 20% down payment results in a leverage factor of five so that every percentage point rise in the value of the home is a 5% return on their equity. With many buyers putting 10% or less down, their leverage factor is 10 or more.”

2.) You’re paying for housing whether you own or rent.

“Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord.”

3.) Owning is a form of “forced savings”.

“Since many people have trouble saving, owning a home can force you to save money.”

4.) There are substantial tax benefits to owning.

“Homeowners are able to deduct mortgage interest and property taxes from income. On top of that, capital gains up to $250,000 are excluded from income for single filers and up to $500,000 for married couples if they sell their homes for a gain.”

5.) Owning is a hedge against inflation.

“Housing costs and rents usually inflate over time, making owning an attractive proposition.”

Bottom Line

Homeownership makes sense for many Americans for a variety of social, family, and financial reasons. If you are considering a purchase this year, contact a local realtor who can lead you in the right direction. Let us know what you are looking for and we can help you to find the Sarasota home of your dream!

The Time To Sell Your Bradenton Home Is Now

January 28th, 2016

The Time To Sell Your Bradenton Home Is Now

According to the Existing Home Sales Report that the National Association of Realtors released, sales of existing homes increased and rose 14.7% over November’s numbers and are 7.7% higher than they were a year ago.

This is wonderful news for the housing market but why exactly was there such a large increase in the sale for a Bradenton home?

Closings were delayed because of the “Know Before You Owe” (TRID) implementation. This pushed some transactions to close in December.

While transactions were delayed, transactions that closed to December contributed to the surge in December sales.

The Inventory of existing Bradenton homes for sale decreased from a 5.1 month supply in November to a 3.9 month supply.

If you take a look at the chart below, you will see inventory levels were at or under a 5.2 month supply for the year..

Slide22

If inventory levels don’t bounce back, it could become challenging for sales to move forward as buyer demand remains strong and competition for the home on the market continues to increase.

Bottom Line

Now is the perfect time to list your home if you were thinking about listing your home in 2016! If you list your home for sale now, you will get the most exposure for potential buyers and that will allow you to get the best price for your home. Don’t forget that inventory levels are at the lowest they have been in over 10 years! Contact Team Works World Wide Real Estate today to see how our team can help you to list your Bradenton home. With a substantial buyers market like it is right now, now is the best time than ever to sell your home. See just what your home may price for with a free CMA from our team and get your home out on the market today! Less competition = more buyers. With Team Works help your home will sell in no time!

Why You Should Hire A Palmetto Realtor

January 20th, 2016

Why You Should Hire A Palmetto Realtor

Whether you are buying or selling a home, it’s an exciting journey. You need an experienced Palmetto realtor to help you out. In this world of instant results and internet searches, many sellers assume they can For Sale by Owner (or FSBO).

Despite this, you need a real estate professional on your side. Here’s why having a Palmetto realtor will make your life that much simpler from the beginning to the end.

1. What do you do with all the paperwork?

Each state has different rules regarding the contracts required for a successful sale, and these regulations are constantly changing. A true real estate agent is an expert in their market and can guide you through the mountain of paperwork.

2. What do you do after you find your dream home?

According to the Orlando Regional REALTOR Association, there are over 230 actions that need to take place during every real estate transaction. You need to hire a real estate agent who knows what these actions are to make sure everything runs smoothly.

3. Are you a good negotiator?

After looking at the list of parties that you need to be prepared to negotiate with, you’ll realize the value in hiring a real estate agent. From the buyer, to the home inspection companies, to the appraiser, there are almost a dozen people you will have to answer to during the process.

4. What is the home you’re buying/selling actually worth?

It is important for your home to be priced correctly to shorten the time that it’s on the market. You need someone who is not emotionally connected to your home to give you the truth about your home’s value.

5. Do you know what’s really going on in the market?

There is so much information out there on the news and the internet about home sales, prices, and mortgage rates. How do you know what’s going on in your area? A real estate agent will have this valuable knowledge.

Contact Teamworks WorldWide Real Estate today and see just how every Palmetto Realtor on our team can help you out to make your real estate process that much smoother!

What Sarasota Homeowner Are You?

January 14th, 2016

What Sarasota Homeowner Are You?

Whether you own a home or plan to buy one day, here’s a question you may not have thought about: What type of Sarasota homeowner are you?

Type No. 1: The I-bit-off-more-than-I-can-chewer

You bought the home of your dreams, but it wasn’t cheap. The rooms are bare because you can’t afford furniture. You’ve been eating ramen for the last two weeks straight. Basically, every penny of your income goes towards your monthly mortgage payment.

A little advice: The best measure here is preventive. “Usually, lenders require that your housing debt shouldn’t exceed 28% of your monthly income,” she says. If you’re already in over your head, look into refinancing.

Type No. 2: The DIYer

You’re determined to make repairs and renovations all by yourself.

A little advice: Before you begin, try to understand that in spite of what you’ve seen on HGTV, renovation projects are not easy.

According to HomeAdvisor, DIYers should be extra careful when it comes to plumbing and electrical work. At the very least, hire a professional to come over and show you the ropes.

Type No. 3: The dorm room-er

You’ve graduated from college, but it doesn’t look like it. Between the clutter and wall-to-wall thrift furniture, the mess makes you feel embarrassed of your home.

A little advice: You bought your first home, and it’s time to grow up. First, rethink your walls. Take down any posters and replace them with framed prints. The other common piece of college furniture to throw out is a futon bed.

Type No. 4. The showoff

You’re proud of your home. And yes, guests are impressed. But that doesn’t mean they want to hear you gush about how expensive all your furniture is.

A little advice: Your home is lovely, we get it. You don’t have to hide that, but you don’t have to brag, either. Let your beautiful home furnishings speak for themselves.

Type No. 5. The coveter

Despite the fact that you have a wonderful home, you can’t help but think the home down the street is nicer.

A little advice: Comparison is the thief of joy. Try to focus on your own place and what you can do to be happy with it. You don’t need a full renovation. Minor changes, like new paint or rearranging your furniture, can brighten your attitude.

Type No. 6: The party host

Your house is the party spot on the block! Your fire pit and hot tub are the talk of the neighborhood!

A little advice: Unless you want the cops at your door every weekend, you need to respect your neighbors and cut down on the noise. Be sure to warn them ahead of time with a note including your phone number, and promise you’ll end the party at a decent hour.

So which Sarasota homeowner are you?

Why You Should List Your Palmetto Home Now

January 7th, 2016

Why You Should List Your Palmetto Home Now

The number one reason you shouldn’t wait to list your Palmetto home for sale this year is that buyer demand continues to outpace the supply of homes for sale.

For many buyers, listings that are in affordable price ranges and that are move-in ready remain hard to come by.

There is currently a 5.1-month supply of homes for sale according to the latest Existing Home Sales Report. This number remains below the 6-month supply necessary for a normal market.

On the chart below, you will see the year-over-year inventory shortages from 2015:

Why You Should List Your Palmetto Home Now

Why You Should List Your Palmetto Home Now

A “seller’s market” is anything less than a six-month supply. Listing your Palmetto home now will not only eliminate a good amount of competition, but it will also allow you to have a potential bidding war on your property. Buyers are out there searching for new homes and in 2016, the amount of buyers looking to purchase is set to increase. Listing now will allow you to get ready to sell that much faster.

Bottom Line

Contact Teamworks WorldWide Real Estate today so that they can show you the supply conditions in your neighborhood. They will also help you find buyers who are ready and willing to buy! Although many sellers do not look to sell during the winter months, you can actually beat the Spring and Summer competition by getting a jump on the housing market. Putting your Palmetto home up for sale now may be the smartest thing you can do all year. Get 2016 off on the right foot and contact our team to see just how much your property could be worth. With are meticulous marketing strategy, your home will get more exposure than it needs to sell while the inventory levels remain low.

Where Are Sarasota Home Prices Headed?

December 28th, 2015

Where Are Sarasota Home Prices Headed?

Today, many real estate conversations focus on Sarasota home prices and if they’ll be increasing or decreasing in the future. That’s exactly why we like the Home Price Expectation Survey.

Every quarter, Pulsenomics surveys a panel of 100+ economists, real estate experts and investment strategists around the country about where they believe prices are headed. Then, they average the estimates of all 100+ experts into a single number.

The results of their latest survey:

Home values will increase by 3.9% by the end of 2015, 3.4% in 2016 and 3.1% in each of the following four years. That means the average annual appreciation will be 3.2% over the next 5 years.

Teamworks1

The prediction for cumulative appreciation increased from 18.1% to 21.6% by 2020. Even the experts making up the most bearish quartile of the survey are still projecting a 13.8% rise.

Teamworks2

Bottom Line

The Home Price Expectation Survey is a fair depiction of future home values. If you are looking to purchase a Sarasota home, now may be the best time than ever before the prices are set to rise.

Buying A Bradenton Home With Student Debt

December 23rd, 2015

Buying A Bradenton Home With Student Debt

Here are some tips from some finance experts about what to do when you’re acquiring a Bradenton home and have a student loan.

If you had student loan debt, what was your payment strategy to get rid of it?

I ended up using the debt snowball method to pay off my student loan. My loan was through Sallie Mae and I took advantage of the 1-year forbearance to put a pause to my loan payments so I could pay off smaller loans. This way I was able to focus on clearing up other debt I had faster. — Toni Husbands of Debt Free Divas

While I didn’t accumulate any student loans, my wife had some student debt from when she attended a private college. Right now, she has around $11,000 in student loan debt. The first thing we did was call and request a lower interest rate. It surprisingly worked so right now the interest rate is only 3% annually. — Jacob Irwin of My Personal Finance Journey

If you’re still carrying student loan debt, what is your financial plan to eliminate it?

Currently, I have over $85,000 in student debt but I used to have nearly double that amount. I try to make my student debt my first priority and put over $1,700 towards it every month.  I was able to make a pretty big dent by doing this and also cutting out spending like eating out and having roommates instead of living alone. — Mario Bonifacio of Debt Blog

If you’re a homeowner, did you have student loan debt at the time you bought? How did that impact your purchase?

Although we had student loan debt, we didn’t let that stop us from buying a house. We just bought a house that was in our budget! — Katie Brewer of Your Richest Life Planning

When I bought a condo, the pre-approval process took into account my debt-to-income ratio when they were deciding how much I’d be able to borrow. We chose a condo that had affordable monthly payments and allowed us to have some room to breath in our budget. — Toni Husbands of Debt Free Divas

The Bradenton home we wanted to buy was very affordable so the student loan debt we had didn’t have that much of an impact.  — Jacob Irwin of My Personal Finance Journey

In hindsight, would it have been better to pay off your student loan debt before or after your home purchase?

I wish I would have aggressively tackled my student loans as soon as I graduated from undergrad. Instead of living in an expensive apartment and taking on car loans, I could have payed more towards my student loan especially as a single person with no children. — Toni Husbands of Debt Free Divas

If you’re not a homeowner, is your student loan debt prohibiting you from buying?

I don’t think my student loan is stopping me from buying a home but at the same time it’s not a priority of mine because I think renting is the smart choice right now for me. — Debt Hater of From Debt to Dreams

What are your tips for folks carrying substantial student loan debt?

A way to get rid of student loans is to live below your means, don’t upgrade your lifestyle because then you will lose flexibility with your budget. —Katie Brewer of Your Richest Life Planning

Try to make a budget to see where you are spending money and where you need to cut back. Also make a timeline to see how quickly you might be able to pay off your student debt. — Mario Bonifacio of Debt Blag

What advice do you have for prospective home buyers limited by their student loan debt?

Try to start building a strong credit history by making your student loan payments on time! — Heather Jarvis of Ask Heather Jarvis

Make sure that you don’t take on more than you’ll be able to handle. Also buy a home that will still allow you some room in your budget to focus on other financial goals.— Katie Brewer of Your Richest Life Planning

How Much Does A Sarasota Home Cost?

December 17th, 2015

How Much Does A Sarasota Home Cost?

Over the next six months Sarasota home values will be headed toward the short term price. Instead of being concerned about the price, buyers should be concerned about the long term cost of the home.

According to the Mortgage Bankers Association (MBA), the National Association of RealtorsFannie Mae and Freddie Mac mortgage interest rates are projected to increase over the next twelve months by about three-quarters of a percentage point.

Home prices will increase by 5.2% over the next months according to  CoreLogic’s most recent Home Price Index Report.

What Does This Mean as a Buyer?

Below is an example of what an interest rate increase would have on a mortgage payment if  home prices appreciate by the 5.2% predicted and the house sold for around $250,000 today:

Cost-Of-Waiting-KCM

As Sarasota home values begin to head upward, mortgage rates are also set to increase this upcoming year. Looking for a home now may be the best bet to keep your monthly payments in check. Contact your Sarasota home real estate team today and see just how we can help you to list and purchase a property in 2016. We are here to help make the real estate process that much simpler and with a dedicated team on your side, we know that you will be getting the best deal possible.




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