A recent study by the National Association of Home Builders (NAHB) show that a $1,000 increase in the cost of a median-priced newly built home, pushes 127,560 buyers out of the market. This means that the increasing prices are impacting affordability and the ability for potential buyers to purchase a home.
So, what does this mean? This study illustrated how even a relatively small increase in price or interest rate can dramatically impact housing affordability, according to NAHB Chariman Randy Noel. Housing affordability is currently a serious problem in communities across the country including South and Central Florida. On top of rising prices, the concern over...
How To Know When It's Time For a New Roof
It’s easy to tell when you need to replace your carpet or repaint the walls since you see them every day. You noiice the wear easier. When to replace your roof is a different thing. How often do you spend the time looking up at your roof and really analyzing how it looks? If you’re like most people, the first indication you get that it’s time for a new roof is when it starts to leak. Before that happens, here are some signs that your roof needs to be replaced:
- It’s old: Depending on the roof type, will depend how long it will last. A metal roof will last the longest, then tile comes...
Top 5 Home Projects
You already know that your home does not look like the pictures in the home magazines. If you’re ready to list your home, you might be wondering if you should do some home improvements or upgrades before listing. The truth is not all changes will bring the best Return on Investment (ROI). Before you plan a big, or small, improvement project, here are the top home improvements which have been shown to bring the best “bang for the buck.”
- Yard clean-up and landscaping
- Complete home cleaning and de-cluttering
- Replacing the front door
What is a 1031 Exchange?
One of the most common real estate investment transactions is the 1031 Exchange. Simply put, a 1031 Exchange (also called a “like-kind” exchange) is the swap of one investment asset for another which defers capital gains taxes on profits.
A like-kind asset refers to selling one class of investment for a similar type of asset. For example, an investor currently holds several multi-family properties, such as duplexes, and wishes to sell them all in order to purchase a larger multi-family property, such as an apartment complex. This would qualify as a like-kind exchange.
There are specific IRS rules which...
Tips For 1st Time Investors
It’s never too late to begin investing in real estate…..it’s never too early either. Real estate offers a solid investment opportunity which can provide not only an income stream but long term value appreciation as well. Regardless of the ups and downs of the market, people will always need housing, so real estate will remain a good way to create wealth.
By understanding some of the basics of real estate investing, you can begin to create your own plan. Here are 5 tips for first time real estate investors.
1. Use Leverage - Learn about options other than your own savings for these costs.
Never Skip A Home Inspection
Buying a home can be expensive. It might feel like once you’ve entered escrow, you have new things to pay for at every turn. While the fees are normal and customary, if you don’t buy a home often, you might wonder if they are all necessary.
One expense that is often discussed is inspections. What inspections do you need and how should you choose the right person to perform them. During the home inspection contingency period, you have a right to perform as many investigations as necessary to determine the condition of the property you are buying.
Typically you will want to make sure there are a home inspection and a termite inspection. Other options could include a mold inspection,...
Florida Ranks 5th On Most Tax-Friendly States
When buying a home, there are a lot of factors that come into play- climate, cost of living, lifestyle, and taxes. Fortunately, Florida provides the great weather, all of the activities that you desire, an active lifestyle, and most importantly, a favorable tax environnent Kiplinger listed the 10 most tax-friendly states for retirees, and there is no surprise the Sunshine State made it to the top 5 among other states like Georgia, Nevada, South Dakota, and Pennsylvania.
Florida exempts Social Security benefits, inheritance tax, estate tax and we don't have a state income tax. The lower...
Trends in Kitchen Lighting
The kitchen has always been the most important room in the home. A warm, inviting space which invites family and friends to gather and linger over great food and conversation is all about the styling and design. Lighting is a great way to add interest and ambiance to your kitchen areas. Here are the hottest trends in kitchen lighting in 2018.
The advantage of LED lighting is that they are incredibly flexible and can be used in a wide variety of fixtures and locations.
As in other areas of design, natural elements are headed to the lighting section. Beautiful woods, rope, burlap and other materials are now being used in lighting fixtures to add interest and warmth.
Pendants lighting has been a kitchen...
The Counter Offer – Negotiation Strategies for Sellers
Getting an offer on your home is very exciting. Then you open the offer and realize it’s not what you were expecting and you are wondering what to do next. Answering an offer which is not acceptable is a matter of strategy. Sometimes buyers feel they need to "try" a lower offer. Here are a few of the strategies used by successful listing agents to handle a low offer.
The most common way to respond to an offer that is not quite right. You can counter at the list price and terms or come down and offer something in between list price and the offer.
Highest and Best
This strategy allows the buyer to revise their offer, should they choose....
Here’s Why Now Is The Best Time To Start Your Life In Florida
Have you ever dreamt of owning a home in Florida? This is the time to turn that dream into a reality. Florida is paradise with no shortage of things to do. From music festivals and sporting events, to theme parks and beaches, there is no doubt why Florida remains in its rank in cities people would want to live in.
Are you ready to make Florida your new home? We are here to share with you the reasons why more people are moving to Florida:
Florida does not have state income tax. The primary benefit of eradicating individual income tax is that residents have room for growth, which makes them better at creating jobs.
Florida is home to a diverse and...