It is a Shame how some Condo Associations treat Elderly People

For many people condo associations boards especially in 55+ communities are a pain in the neck. These association boards often behave as if they are the sole owner of the whole complex. They execute their rights like little kings and queens and oppress their members. Many of the elderly members are so afraid of them, that they do not defend themselves even, when they are discriminated by the association board.

I made numerous experiences with these association boards and I tried to motivate my customers to take action and report the abuse to the authorities, but sadly they did not.

When Hispanic cash buyers try to get an approval for a unit purchase from the association board, my buyer was treated like a criminal and financial problems that happened ten years ago were used as an excuse for the approval denial. Even when this buyer brought his daughter as in additional sponsors into the picture, my buyer was denied by the association board.  

After these two difficult attempts, my cash buyer gave up and the association board won.

The newest court decision in connection with the discrimination law may help in the future. Now even an unintentional discrimination is a violation of the Fair Housing Act and can be reported to the responsible authorities.

Want to know more? Contact us at info@florida-informations.com     

Should You sell Your Home, When You age?

Many homeowners asked themselves this question, because they fear that their today’s home might not fit for their later life. How can you find a better way to enjoy your home even when you age? Is the better question and you might like the answer to this question even more.

Many adjustment can be made in your home, that will simplify your life. Think about what challenges you might have in the future. For example when you might need a walker or a wheelchair, the widening of doorways will be a good idea. You also should look into options to make your kitchen and bathrooms better usable and easy to access for your later needs.

When your bedroom is on the second floor, evaluate your options either to move your bedroom to the ground floor or install an elevator. Option one is easier and cheaper than option two. However, when you are an anxious person, you will be more comfortable with option two. For option two – elevator – you have to spend more money in the installation process and you might need a loan for the successful realization.

These are only a few ideas for your home alteration for your retirement and you should always think about what you need and what it may cost you. Before you start with such a project you should always seek the advice of a professional, so that you get best available option for your needs.

You need help and some ideas how to start? You can reach us at andrea@florida-informations.com  

 

The International Buyers are still strong in Market

Over the last months the US dollar strengthened against other foreign currency, however the international buyer are still coming and purchase real estate in the US. The volume amount of these real estate transactions have even increased, while the number of the purchased units have decreased. That means there are less international buyers that buy, but these buyer are buying more expensive units. That results in an overall plus of these international real estate transactions.

There are five countries worldwide, who are responsible for 51 % of the real estate transactions. China is on the top nations with 28.6 billion and they bought the most expensive homes. The average home price for the international buyers was slightly below half a million, while the home prices of the Chinese buyers were beyond the $800,000 mark.

Second on this list are the Canadians with 11.2 billion, on position three, four and five come India, Mexico and the United Kingdom.

There are four states in the US, that are the preferred target areas for these international real estate buyers: Florida, California, Texas and Arizona according to the market data of the NAR.

These positive numbers show that Florida is still a very attractive spot for international real estate investors despite of the US dollar strength.

You need help for your international real estate purchase? We can help at andrea@florida-informations.com .

As a preparation for your purchase project here our book: http://www.amazon.com/Your-Residence-Paradise-Property-Purchase/dp/0986252913     

Lies on the Loan Application can backfire

Some borrowers seems to think, that they are smarter than the lenders. They should be very careful, because the lenders have learnt from their losses during the last finance crisis. They are much more vigilant when it comes to mortgage applications and look for facts that are not logical like a very long commute between their potential new home and their workplace.

When a borrower is in the purchase process and applies for a mortgage he/she has to provide evidence of income payments. Such evidence are paychecks from the employer. With this information the lender has a lead, whether the borrower is truthful or not. It is very unlikely to buy a property far away from the workplace and claim that the property is a primary residence only to get a better interest rate and lower down payment requirements.

The difference in the down payment amount is significant, when a primary residence is purchased. The lowest down payment for a primary residence is 3 % of the purchase price and for a non-primary residence the down payment is at least 15 %.

Let's make an example: when the purchase price of a home is $100,000, the difference in the down payment amount is $12,000. The lower down payment on a home rises also the risk for the lender, because borrower that want a mortgage for a non-primary residence are more likely to sneak out of their repayment obligation than primary residence owners. The banks do not want to assume that higher risk and try to protect the loans better.

You want to prepare for a loan application? Contact us at andrea@florida-informations.com  

How to get rid of a Squatter in your Home

Some people have no respect for other people’s property and break into vacant homes. They live in your home without your permission and therefore they don’t pay rent and don’t even intend to pay rent. How can you get them out of your property? You ask yourself.

There are a few details to take into consideration, so that you don’t get into trouble yourself. Even when you have the legal right to vacate your property, it is always better to go not alone. Before you go, check with the sheriff or the police department which law enforcement department is responsible for this kind of issue and who will be the appropriate officer to take with you.

Based on the trespassing laws, you have the right to get squatters out of your premises, however you always should get an officer in uniform with you. This is not only for your own protection, but also because these officer has to verify some information about the ownership of the property first. Then you both go to your property with the squatters and give the squatters the trespass warning and demand the immediate eviction of the house.

Don’t give the squatters longer period for the eviction then 30 minutes, because a longer time period can be misunderstood by the squatters as a permission to stay in your home.

You have question how to start? You can contact us at info@florida-informations.com

A Condo owner Association got in Trouble with the Fair Housing Act

Often it is really hard to deal with the condo associations, when you would like to move into a condo community. The condo associations try to use their own regulations, when it comes to the approval of new residents in their community and these regulations not always comply with the Fair Housing Act.

My experience in the real estate show that many associations violate the Fair Housing Regulation based on their rules and regulations and they often go away with it.

During a sales transaction, it was a cash deal for a condo in a nice area, the buyer was denied with flimsy excuses. His daughter and son-in-law even offered to go with the father on the deed and take financial responsibility. That is more that a association could asked for and they still denied the approval.

That specific association had already some violations with the HUD regulation, but nobody seems to care. However, a broker in such a transaction has only limited options to intervene and can only encourage the discriminated person to raise his/her voice and go after such associations.

In my specific case the buyer and his family who have a Hispanic background were so badly mistreated that they let this perfect condo go. That is not only sad for the buyer, but it encouraged the condo association to stick to their behavior and do it again the next time.

Every homeowner in a condo community deserves a respectful and fair treatment, but this often only exists in the words that are spoken and not lived. There are only a few people that speak up. When we would like to have change in this condo association behavior, all affected people should speak up and complaint. When there are enough complaints, these condo associations will have to listen and comply, otherwise they will risk government fines.

You want to know how to do it? Contact us andrea@florida-informations.com

How desperate do you want your new home?

You are ready to become a new home owner? You did your homework and have a pre-approval letter from your lender in the pocket? You are excited to go on the house hunt and see your dream homes from the inside? In your dreams you already have moved into your home and you picture yourself in your new domicile. However, are ready for the next step too?

The next step is to make an offer for your new home and it is important how you make that offer. You need to ask yourself, how much your potential new home means to you and that is the base for your offer to the seller.

The seller is the owner of your new home and he/she decides which offer is the best for them. Your agent should do his/her best to find out the seller’s motivation and why he/she sells. However, that is a tough issue for your buyer agent and often the seller will not share his/her sale motivation with anybody than himself/herself.

Therefore you should sit down with your buyer agent and draft the most desirable offer you can afford. That means it should be your highest possible price bit, however do not ignore the remaining contract terms like flexible closing date or the earnest money amount. These two can be strong arguments too and work in your favor. Take your time and make it right and you will be successful. 

You want to know how to make it right? Contact us at andrea@florida-informations.com  

Golf is no longer Everything

A few years ago the golf communities thrived when they had an excellent designed and maintained golf course. However, that is no longer enough in this competitive golf world to be successful and survive. As statistics show more golf courses have closed in the most recent time than new ones have opened.

The developers of these golf communities have realized that they have to offer more than only golfing and putting greens in a nice manicured grass area.

The newer golf community developments include recreation areas with fruit trees and designed landscaped parks. Another option are additional sport activity options like yoga and gym training or horseback riding a la ranch style and luxury camp grounds.

You will not find everything at every community, therefore you have to make your choice what fits best to your individual lifestyle.

Your are looking for such a lifestyle place? Please contact us at info@florida-informations.com

Save Money in Going Green with Your Home

Are you also tired in spending month after month more money for power and water only to keep your home cool and your landscaping blooming and green? Then it is time for a change. Sit down and start your plan for the change.

Florida is a wonderful and sunny state with a mild breeze and some rain. That is what Mother Nature gave you and it is your turn to apply this natural resource to your home.

The sun offers you the opportunity to install solar panels on your roof. These panels are collecting the energy of the sunshine and transforms it into electricity. You can use this electricity to power your appliances in the home during the day time. That can already save much money, especially when you use energy efficient appliances.

Another easy fix in your home is to seal the windows and doors, so that the cool interior air cannot escape to the outside through these tiny spaces. And the insulation of your attic is also a good idea, especially when you have a flat roof or only a small pitch. The summer heat comes directly into your interior space and your A/C has to work harder to cool that air down.

These tips are hints in going green. You need help how to get started? We are here for you info@florida-informations.com

Florida increase Hurricane Protection

One of the biggest natural threats in Florida are the hurricanes that can occur each year between June 1 and November 30. Since 2005 when Hurricane Wilma swept over the south tip of the peninsula, we have not had a big storm and every Floridian is thankful for that. It take only one storm to cause major damages and hurt the Floridians.

Since the last big storms the building code in Florida has been changed. When building a home today, it needs to be much more storm resistant. The home construction rules base on these new code regulations and the regulations have strict requirement for wall reinforcements of the exterior house walls. The windows and doors have to meet guidelines for wind resistances and the roofs need stronger straps connecting it to the main home structure. The building code is mandatory for all new construction projects. However, when you as a homeowner make exterior upgrading efforts like windows and doors replacement, you are also forced to obey by these regulations.

Another important point to protect your home against strong storms is to change your landscaping from a flat lawn to a landscaping with hedges, bushes and trees that slow down the wind forces that blow against your home. With the right choice of native plants your home is not only naturally protected against the tropical storms, but you save water for irrigation too. Native Florida plants need less  water to survive and often they “water” themselves with the morning and evening moisture as well as the rain during the summer.  

You want to protect your home in a cost-effective way? Contact us at info@florida-informations.com

Are you a Millennial Homebuyer?

Each age of home buyers are looking for different home features based on their personal needs and circumstances. For example in Florida many young families have at least one at home staying parent who earns a part of the family income from their home office.

In such a circumstance of life the home buyers are seeking a home that allows them to live energy efficient and will have green components like modern appliances and water saving method in their home to cut costs. The yard and the home itself should be equipped with an updated kitchen and bathrooms and they expect low maintenance of their homes.

They need flexibility in their home space because when they stay at home for work the interior of the house should be multifunctional, flexible and entertaining for themselves, their family and their friends too. All this together should also be affordable for them.

With these high stacks they need competent assistance from a real estate professional who helps them to navigate the existing home inventory and find the perfect cozy home that meets most of their needs.

You are looking for such a home? Contact us at andrea@florida-informations.com.
In Real Estate always on your side - http://www.amazon.com/Your-Residence-Paradise-Property-Purchase/dp/0986252913   

Luxury Real Estate worldwide

With the end of the recession and the economy growth the interest in luxury real estate is awakened too. When the buyers have more money in their pockets they spend it for items that give them pleasure and delight. And the best of all is, when these items are not only nice to look at but also rise in value like real estate properties.

One of the latest studies shows that this trend is not only concentrated to US properties but also in other major countries. However, the spot one and three belong to the US cities San Francisco and Miami. On spot two you find the Indian city Bangalore. The Canadian City of Vancouver is on position four and is follow by the cities of Jakarta, Tel Aviv and Tokyo. The only European city in this comparison on position eight is Dublin in Ireland.

You are interested in global real estate? We can assist you. Please contact us at andrea@florida-informations.com.
In Real Estate always on your side - http://www.amazon.com/Your-Residence-Paradise-Property-Purchase/dp/0986252913

Super-Priority Liens may cost You more Money

Maybe you have heard from the financial crisis in housing industry from years ago. At that time only the lenders had the opportunity and the money to foreclosure on a home. But as soon as the homeowner was in default and did not pay the mortgage, they often also stopped paying their homeowner association fees when their property was located in a mandatory homeowner association community.

The unpaid association fees to the homeowner association resulted in a shortfall of the association's budget and the remaining homeowners of the association had to cover that shortfall. This financial problem of the homeowner association started to happen shortly after the financial crisis in many state and the homeowner association began to foreclose on the defaulting homeowners themselves.

However, in these cases the mortgage of the lender was not erased from the property records and the banks could still foreclose on the property later and they often did. During this period the lender did not pay the homeowner association fees but the new title owner, which were often the homeowner associations could at least rent the property and cover their shortfall with the rental payments.  

Now 22 states and the District of Columbia have granted the homeowner associations a so-called Super-Priority Lien. This means that such a homeowner association liens that results from not paying the homeowner association dues will have the priority before the mortgage lien of the lenders.

This is a potential risk for the lenders and can lead to higher interest rates for such a mortgage in a homeowner association community or a higher down payment requirement for the purchase. Either way you as the home buyer will have to pay the price. Therefore check with your lender their policy in this matter before you make your decision to buy a home in homeowner association community.

Need more information? You can contact us at andrea@florida-informations.com.
In Real Estate always on your side - http://www.amazon.com/Your-Residence-Paradise-Property-Purchase/dp/0986252913

Pocket Listings are not smart for the Seller

Many sellers and also their agents when they are hired by such a seller are not very smart when they agree to make a pocket listing. Both the seller and their agent will leave good money on the table.

The reason for this is that the pocket listings are not marketed to the biggest possible audience because it is a pocket listing. The nature of a pocket listing is that it sits in the pocket of the seller or the agent and only a hand selected buyer audience will have the chance to make an offer. 

On the other hand the members of this ‘elite’ crowd may not include that potential buyer with the deep pockets that the seller is hoping for or need to get out of his/her property. The buyer with the deep pockets is often outside this crowd and the seller will not get to this buyer because this buyer does not know that the seller wanted to sell his/her property. That is not a good position for the seller.

Therefore Mr. Seller you should think twice what is better for you – Make a pocket listing and get a lower price from a limited buyer audience or publish your listing with an broker on the MLS and get a higher sale price and a potential higher gain from your sale because your property is seen by a much bigger buyer crowd with deeper pocket?

You have a real estate question? We love to assist you – andrea@florida-informations.com.
In Real Estate we are always on your side - http://www.amazon.com/Your-Residence-Paradise-Property-Purchase/dp/0986252913

 

To Cheat on Your Property Tax May Not Be a Good Idea

Everybody wants to keep as much money as possible in his/her own pocket that is understandable. And may be the reason to cheat on your property taxes and therefore you do not tell your tax appraiser about the alteration that you have done to your home – your new addition or your new pool without the proper permits from the city and the adjustment to the property taxes.

But that is not a good idea in our technological new world. Each person has a cell phone and we record and document everything want we see and what we do and post it right away to the social networks everywhere not realizing that we expose not only ourselves but also our neighbor. And don’t forget, what you can do, the tax appraisers can do too but only on a much higher level.

The property appraisers are normally not allowed to trespass your property for their assessment pictures and when you have a fence they are not allowed to peek over it. However, they have something much better for their purposes – the aerial pictures and this services is legal for them and you can do anything against that. Therefore you should think twice when you enhance your property with items like a pool without getting a permit and a tax adjustment. It is only a matter of time until the property appraiser will notice it.

On the other hand you should not forget, that your property tax is used for your own good. Your taxes pay for schools, fire department, the sheriff or police and the hospitals. Therefore when you cheat on the property taxes you only hurt yourself and your family.

You have any questions to this topic? You can reach us at andrea@florida-informations.com.
In Real Estate always on your side -  http://www.amazon.com/Your-Residence-Paradise-Property-Purchase/dp/0986252913

Florida is Nationwide the Number 2 State when It comes to Business

In new survey over 500 CEO were interviewed and asked to rate their business home state in regards to the regulatory environment. Florida made it on place 2 behind Texas for the most desirable states to open a business.

The reason for this decision is the economic growth of the state that is also pushed by the governor with is pro-business laws. The state of Florida has no person income tax and favorable tax rates for business.

A further big benefit for business is the transportation and infrastructure. Florida has several big ports that not only connect the countries within the Caribbean but also to South and Central America and eastward to Europe and Africa.

The state with the worst rank for business is California and it has this status for the last 10 years. Therefore think twice where to open your business.

Want to know more how to do business in Florida? Contact us at info@florida-informations.com. We are always on your side. 

Hottest Information about the Real Estate this Spring

The rents are increasing and the home inventory is still low so that potential buyers have to be prepared meeting a hard competition in their home hunt. However, on the bright side the mortgage interest rates are still low and it is much easier to get a mortgage for your dream homes because the lenders' requirements are less stringent.

The competition for buyers may even get worse because some homeowners who thought about moving to a new home reconsider their financial situation and may stay a little bit longer in their today’s home. On the other hand the interests rates may also rise in the next few month as already communicate months ago, even when the increase will be very moderate so that the recovery will not be disturbed.

When the interest rate increase it is for the lender more profitable to loan money so that the availability of the money will grow too.
 
For FHA borrower there is also good news. The credit insurance premium for a mortgage of 95 % of the home value is decreasing from 1.35 % annually to 0.85 % and that will help these borrowers in realizing their home dream.

You want to know more about the actual market trends? Contact us at andrea@florida-informations.com.

In Real Estate we are always on your side -
http://www.amazon.com/Your-Residence-Paradise-Property-Purchase/dp/0986252913

Stationary Battery for Homes and Business in Sight?

The Tesla Motors Company is looking for a new business field and based on their expertise - the energy efficiency business. They want to go into the production of stationary batteries for homes.

Today the homeowner who has solar panels on the roof has only the option to use the produced power themselves in their house and the surplus of the power will either get lost or in some areas they can offer that power into to the power grid of their city. Normally they get a payment for the produced and delivered power into the grid. However, on other days when the production of power is not enough they have to use the city power grid to cover that need.

The motor company want to go in the field in producing stationary batteries for homes and business. The energy that is produced during the day is planned to be stored in these batteries for the night hours. In this case the energy producer use its own energy and has no need for a different power source and has not to pay the power company.

Let’s us see how the Tesla company will manage the existing challenges like the size and the life span of the batteries. The company has big plan and expectations towards their project. It will be exciting to observe this challenging plan.

You want more information about energy efficiency? Send us an email at info@florida-informations.com. We are always at your side.

Some Important Expenses for Homeowners after the Purchase

Many homeowner only see the purchase price and are happy when their transaction closes. However, after the closing they do not pay rent anymore but there are some expenses that they have to keep in mind.

Every property should be insured so that the financial and property damage is covered in case a disaster strikes. The homeowner insurance pays for the property damages and possession losses. Normally you as the homeowner have also a deductible amount and that is your obligation to cover. The insurance kicks in when the damage amount is higher than your insurance deductible.  

The homeowner insurance usually insures wind and fire but not earthquake and flood. For these disasters you need an additional insurance coverage.  It is also important where your home is located. When your home is for example close to coast lines with high storm risks, this insurance is significantly more expensive than in areas with low storm risk.

Additional obligations for you as the homeowner is the maintenance of your home and the annual property taxes as well as the trash removal. When your home is located in a homeowner association community the monthly association fees are a necessary expense too. You should not ignore these payments.

You want to know your obligations? Contact us at andrea@florida-informations.com

 

Why you should buy a home now!

Everybody who is renting right now, should really think hard if there is any possibility to purchase a property. The reason is that the rents are going up constantly and based on newest surveys the landlords have the intention to keep this pressure. The rental demand is there and many tenants are too afraid to look for their dream home.

However, as a tenant you should always keep in mind that you pay a landlord for the right to stay in a home and at the end of every month the lease money is gone from your pocket to the landlord's. Would it not be better that this money goes in your own pocket?

That is easily possible when you are a homeowner yourself. Even when the home inventory is low and you have to look harder to find what you want, your dream homes is out there. When you find it you have to act quickly and make an offer. Therefore you need to be prepared so that you get the best possible interest rates for your mortgage.

To be ready for your loan application you should put the following hints on your list. They will help you to get what you want: the loan for the purchase of your dream home.

1.      Get ready to show your lender your ability to pay back the loan. Your employment records and your monthly budget plan are a valuable information for the lender.

2.      Your home value is an important point because it will be the security for the loan. The closer the home value matches to your loan amount, the better.

3.      You should have as much money as possible for the down payment at your hands even when you do not intend to use the whole amount.

4.      Your actual credit score creates a clear picture how well you pay your bills and debts on time. Therefore do not miss a payment.

Start today on your way to your dream home and pay yourself rent and not the landlord.

You have questions how to start? Please contact us at andrea@florida-informations.com