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Getting a SW Florida Mortgage is a Detailed Endeavor – Naples, Ft. Myers, Lehigh Acres, Cape Coral, Bonita Springs, Golden Gate Estates

Getting a SW Florida Mortgage is a Detailed Endeavor – Naples, Ft. Myers, Lehigh Acres, Cape Coral, Bonita Springs, Golden Gate Estates. Buying a SW Florida home can’t help but be about as thrilling a purchase as you can make, whether you’re a first time buyer or an experienced homeowner. Getting a SW Florida Mortgage is a Detailed Endeavor - Naples, Ft. Myers, Lehigh Acres, Cape Coral, Bonita Springs, Golden Gate Estates‘Buying’ a SW Florida mortgage, on the other hand…well, the experience may be slightly less exciting, but if your team has managed to secure a good one, it’s actually a comparable accomplishment.
In the same way that it’s the features and condition of your new SW Florida home that give it extra value, there are multiple elements of a local mortgage that make signing on the dotted line an action you look back on with satisfaction. Having a knowledgeable REALTOR® on your side is one part of making sure that happens—knowing how the process works, familiarizing yourself with the terms involved, and fully comprehending the significance of the paperwork elements is the other part. Here is a brief overview of the key elements that come into play:
• Being 100% clear about the financial terms prior to signing is the primary order of business. How much you will be paying each month, how much your interest rate is, whether it is fixed or variable, Getting a SW Florida Mortgage is a Detailed Endeavor - Naples, Ft. Myers, Lehigh Acres, Cape Coral, Bonita Springs, Golden Gate Estateswhat additional costs accompany your SW Florida mortgage—this is the ‘meat-and-potatoes’ of your loan.
• An application fee is the charge that covers the lender’s costs for processing your application. This sometimes includes the credit report and property appraisal—you’ll want to know whether these fees were included as part of your application fee.
• An appraisal fee is included to make sure your home is professionally appraised (it may or may not be part of the application fee).
• A loan origination fee includes the additional expenditures associated with your application. It’s Getting a SW Florida Mortgage is a Detailed Endeavor - Naples, Ft. Myers, Lehigh Acres, Cape Coral, Bonita Springs, Golden Gate Estatesusually presented as a percentage (point) of the loan amount.
• Title insurance covers the title search that investigates whether the property is lien-free. This also covers the legal recording costs, and indemnifies against legal costs for defending the property from future claims. It can sometimes pay to comparison shop between title companies.
• Other amounts may also be included: if, for instance, you and the seller have agreed upon certain things, those details will be listed and costs added onto the total of your SW Florida mortgage. Property taxes and insurance may also be prorated and included in the monthly payment.
Before the closing, expect to receive a HUD-1 form—the federally-mandated settlement statement that Getting a SW Florida Mortgage is a Detailed Endeavor - Naples, Ft. Myers, Lehigh Acres, Cape Coral, Bonita Springs, Golden Gate Estateslists all fees, charges and costs. If there is a problem, this is the time to address it. And keep this and the other papers in a safe place…and remember where they are! You’ll save time later, because some of them may be required in future financial dealings. You will also receive a final Truth-in-Lending statement, a mortgage note, and a Deed of Trust. It’s important to make sure all the due dates are clearly understood—it’s not a bad idea to list them on your own personal “To Do” sheet to keep track for your own reference.
Getting a SW Florida Mortgage is a Detailed Endeavor – Naples, Ft. Myers, Lehigh Acres, Cape Coral, Bonita Springs, Golden Gate Estates. If you are thinking of buying a home in SW Florida this summer, it’s time to get pre-qualified now. Contact me for an introduction to an experienced mortgage broker—then we can get started with the fun part: finding your future home!

SW Florida Seller Financing Agreements Can Make Deals Happen! Naples, Ft. Myers, Bonita Springs, Cape Coral, Lehigh Acres

SW Florida Seller Financing Agreements Can Make Deals Happen! Naples, Ft. Myers, Bonita Springs, Cape Coral, Lehigh Acres. When home prices in SW Florida are on the rise, one side effect is that first-time home buyers may run into a financing obstacle. Although the stricter lending standards of the past few years have been easing somewhat, it still can be difficult for some folks (younger buyers, especially) to purchase the SW Florida home they have in their sights.
SW Florida Seller Financing Agreements Can Make Deals Happen! Naples, Ft. Myers, Bonita Springs, Cape Coral, Lehigh AcresIn that situation, an alternative to a traditional bank mortgage is seller financing. Many prospective buyers know little about the details that make up a seller financing agreement, and how it can–or cannot—help them secure a home.
What Seller Financing Is…
It’s as simple as the words themselves. When part or all of the purchase price of a property is carried by the current owner rather than a bank, it is considered to be “seller” or “owner” financed. Buyer and seller reach agreement on the loan details, including the monthly repayments, term of the loan, and interest rate. The security for the loan is the property itself—a fact which is documented on public records for the safety of both SW Florida Seller Financing Agreements Can Make Deals Happen! Naples, Ft. Myers, Bonita Springs, Cape Coral, Lehigh Acresparties.
The Benefits of Seller Financing…
For the buyer, the principal benefit of seller financing is avoiding the requirements that are the hallmarks of traditional bank loans. Motivated sellers, who may be anticipating having trouble selling their home in a timely manner, be willing to advance a loan to buyers who do not traditionally qualify for a loan. Another benefit for the seller is having an investment which returns a fixed rate of return—one that is secured by the property. In the case that the buyer defaults on the loan the seller can foreclose on the property. With seller financing of a SW Florida property, the buyer will often compensate for a lower-than-bank-required credit score by agreeing to pay an above-market interest rate (another inducement for the seller).
SW Florida Seller Financing Agreements Can Make Deals Happen! Naples, Ft. Myers, Bonita Springs, Cape Coral, Lehigh AcresFinancing Part of the Purchase Price…
In some cases, the buyer may be able to secure a traditional loan for only part of the full purchase price. In that case, the buyer can ask the owner if they would be willing to finance the missing piece. Again, the buyer may sometimes offer an interest rate that is above current market rates as an inducement. It’s often possible for the buyer to plan on refinancing the ‘missing piece’ at a later time when the credit picture has improved, hoping to lower the combined interest rate.
But, then…
These advantages are so clear, you might expect that SW Florida seller financing arrangements would be very common. There are several reasons why that’s not true. First, owner financing can only be offered by sellers who own their property outright. Second, should a buyer fail to live up to his or her side of the SW Florida Seller Financing Agreements Can Make Deals Happen! Naples, Ft. Myers, Bonita Springs, Cape Coral, Lehigh Acresagreement, foreclosing on the property can be a lengthy and expensive process—during which it’s likely that no money will be paid by the buyer in default.
SW Florida Seller Financing Agreements Can Make Deals Happen! Naples, Ft. Myers, Bonita Springs, Cape Coral, Lehigh Acres. In SW Florida, seller financing can be a deal-saving alternative for buyers who may not meet lending standards set by banks, but who can nonetheless afford to service a mortgage. Not all sellers will consider owner financing—but for those who are willing to support the added risk, it can meaningfully expand the pool of prospective buyers. Seller financing is just one of many possible strategies. If you are thinking of buying or selling in SW Florida, give me a call as soon as possible to take advantage of this summer’s market opportunities!

SW Florida Real Estate Holders Pleased by Gallup Poll Findings. Naples, Ft. Myers, Marco Island, Golden Gate, Lehigh Acres

SW Florida Real Estate Holders Pleased by Gallup Poll Findings. Naples, Ft. Myers, Marco Island, Golden Gate, Lehigh Acres. For SW Florida real estate investors (BTW, that includes homeowners and soon-to-be homeowners of all stripes), there’s some long wished-for news: the solid reputation of real estate as an investment is back! After years of falling off, the latest Gallup poll on the economy and personal finance finds that Americans are SW Florida Real Estate Holders Pleased by Gallup Poll Findings. Naples, Ft. Myers, Marco Island, Golden Gate, Lehigh Acresnow convinced that their best long-term investment is in the housing market. Real estate won out against all other alternatives: bonds, gold, stocks, mutual funds and CDs.
For the past few years, gold had been investment #1—but see-sawing gold price movements have whiplashed public sentiment. Just as takes place everywhere in the nation, whenever SW Florida’s real estate market improves, so does its reception by potential buyers who view their home as a savings vehicle as well as a place to hang their hat. As Gallup Economy’s headline put it, Americans Sold on Real Estate as Best Long-Term Investment.
Public sentiment by itself is, of course, not reason enough to change long-term investment strategies. SW Florida Real Estate Holders Pleased by Gallup Poll Findings. Naples, Ft. Myers, Marco Island, Golden Gate, Lehigh AcresBut when any investment class is on the rise in public’s estimation, the effect is to create competition among buyers—and further price improvement often follows. It can make a difference when it comes to SW Florida real estate.
One possibility for those selling real estate in SW Florida this summer might be to consider capitalizing on the investment trend by including a marketing approach: one that targets investors. You can have your agent or a local property manager provide a rental evaluation for the property, along with approximate leasing fees and property management fees. Having such an evaluation at the ready lets SW Florida Real Estate Holders Pleased by Gallup Poll Findings. Naples, Ft. Myers, Marco Island, Golden Gate, Lehigh Acresinvestment-minded prospects evaluate the potential cash flow and return. It’s even possible to post the information on your sales website, and to display it along with other marketing materials at showings and open houses.
SW Florida Real Estate Holders Pleased by Gallup Poll Findings. Naples, Ft. Myers, Marco Island, Golden Gate, Lehigh Acres. In many neighborhoods, SW Florida real estate prices have a lot further to go to near their previous high water marks; if you look at neighborhoods individually, you can find some plum opportunities to make a sound investment. If you are thinking of buying or selling in SW Florida this summer, contact me to discuss your ideas—and how you will make the most of America’s new Number One investment opportunity!

Flattening Interest Rates Give SW Florida Homeowners an Opening. Naples, Ft. Myers, Isles Of Capri, Bonita Springs, Cape Coral

Flattening Interest Rates Give SW Florida Homeowners an Opening. Naples, Ft. Myers, Isles Of Capri, Bonita Springs, Cape Coral. SW Florida homeowners who had been bracing themselves for sharp rises in mortgage interest rates must now be scratching their heads. As the online Mortgage Flattening Interest Rates Give SW Florida Homeowners an Opening. Naples, Ft. Myers, Isles Of Capri, Bonita Springs, Cape Coral.News Daily put it last week, “…rates have been extraordinarily sideways, and right in line with the lowest levels in 11 months.”
Since historical averages are still significantly higher, it’s no wonder that most observers still believe the greater likelihood is for rate increases. But recent Fed happenings show a crack in their avowed determination to let that happen by tapering off purchases of mortgage-backed securities. The hemming and hawing is notable. It’s all pretty much up in the air.
In any case, one thing I can guarantee is that SW Florida mortgage holders will benefit if they take advantage of savings opportunities when they present themselves. Among current possibilities—
1. Refinance Your Mortgage
SW Florida mortgage holders who haven’t already refinanced should at least consider doing so.Flattening Interest Rates Give SW Florida Homeowners an Opening. Naples, Ft. Myers, Isles Of Capri, Bonita Springs, Cape Coral. Refinancing means taking advantage of the still historically low SW Florida interest rates—often the most meaningful step in reducing your monthly mortgage payments. Before deciding to refinance, make sure that the mortgage costs involved will be less than the resulting savings. If you agree with the prevailing wisdom that it’s unlikely we will see a significant drop in interest rates in the near future, today’s levels still look inviting.
2. Cancel Private Mortgage Insurance (PMI)
According to the National Association of REALTORS®, mortgage down payments have fallen over the past decade. Their figures show that the average mortgage down payment in 2013 was 10% – compared with 16% just ten years earlier. Homeowners who put down less than a 20% deposit are typically Flattening Interest Rates Give SW Florida Homeowners an Opening. Naples, Ft. Myers, Isles Of Capri, Bonita Springs, Cape Coral.required to take out Private Mortgage Insurance. But once the Loan-to-value (LTV) ratio falls below 80%, homeowners can ask for the PMI insurance to be removed—and they should, because the lender isn’t responsible for keeping track of that for them. If you are close to the 20% threshold, it may be worthwhile to make a one-time payment that will reduce the principal below 80%.
3. Extend the Length of the Mortgage
Many homeowners have made significant reductions in their principal by opting for shorter-term mortgages. But should rising SW Florida interest rates make a property you are trying to buy unaffordable, extending the length of the mortgage can reduce monthly payments to a more comfortable level. Although over the long-term this will end up costing significantly more in interest, moving from a 15-year mortgage to a 30-year can Flattening Interest Rates Give SW Florida Homeowners an Opening. Naples, Ft. Myers, Isles Of Capri, Bonita Springs, Cape Coral.sometimes be the right move—especially when the property at stake represents one of the terrific values currently out there.
Flattening Interest Rates Give SW Florida Homeowners an Opening. Naples, Ft. Myers, Isles Of Capri, Bonita Springs, Cape Coral. While interest rates in SW Florida may rise or fall or, as we’ve seen lately, hold surprisingly steady, sudden leaps or plummets are unlikely…and with a little preparation, unpleasant future surprises in interest rates are avoidable. Thinking of buying a home in SW Florida this summer? Call me today to start laying the groundwork!

Inexpensive Upgrades Boost SW Florida Home Values Painlessly . Naples, Ft. Myers, Golden Gate, Lehigh Acres, Estero, Cape Coral

Inexpensive Upgrades Boost SW Florida Home Values Painlessly . Naples, Ft. Myers, Golden Gate, Lehigh Acres, Estero, Cape Coral. Especially when it comes to major decisions like buying or selling your home, human nature seems to tilt toward delaying action until it’s the end result is absolutely certain. After all, nobody wants to make a life-changing move that turns out to be anything short of fantastic!
Inexpensive Upgrades Boost SW Florida Home Values Painlessly . Naples, Ft. Myers, Golden Gate, Lehigh Acres, Estero, Cape Coral. So even when you’ve outgrown your current home…or found yourself in a daily long-distance commute because work has moved…or any number of other reasons why you know you should be looking for a new house…it can be difficult to commit to such a looming decision. Adding to that is one of the most common assumptions many SW Florida homeowners believe: that they have to spend a boatload of money to increase their home value.
The truth is: It’s not so! You can strategically update your SW Florida house before you put it on the market without cratering your bank account.
Items that only seem to require costly fixes:Inexpensive Upgrades Boost SW Florida Home Values Painlessly . Naples, Ft. Myers, Golden Gate, Lehigh Acres, Estero, Cape Coral.
• Make it Spacious
Adding space to a room increases any SW Florida home value. Tearing out walls isn’t necessary when there are so many other ways to achieve the same thing. Simple options include removing built-in shelves, enlarging windows, or (the simplest) just removing “stuff” that’s hogging perceived space.
• Go Green
More and more, you can improve your SW Florida home value by installing modest “green” upgrades. Today’s buyers may not necessarily be eco-focused—they may simply have a good sense of the increasing cost of water and power. “Going green” as a way to add home value to your area property can be no more costly than switching to low-flow toilets, adding a wifi thermostat with “smart” technology, or putting in a low-cost drip watering system.
• Window Update
Inexpensive Upgrades Boost SW Florida Home Values Painlessly . Naples, Ft. Myers, Golden Gate, Lehigh Acres, Estero, Cape Coral. Have a room that comes across as outdated…or just plain ‘blah’? Consider how much extra home value a new window treatment might add. It could be as simple as installing a stylish valence over a window or two.
• Change the Doors
Remember your first apartment with its flimsy, hollow doors? A quality door can make a disproportionate difference to a property’s perceived home value. Changing out your front or back doors for more a more weighty or modern selection can be well worth the expense.
• Paint
Paint is the number one way to alter the look of a room inexpensively. Instead of painting the entire room one color, another option is to make a “statement wall” in its own neutral color that compliments a painting’s or Inexpensive Upgrades Boost SW Florida Home Values Painlessly . Naples, Ft. Myers, Golden Gate, Lehigh Acres, Estero, Cape Coral. picture frame’s palate.
These are just a few suggestions that can increase the value of your home in SW Florida without a straining the family finances. Even in an older home, many times it’s the little touches that can make the greatest difference.
Inexpensive Upgrades Boost SW Florida Home Values Painlessly . Naples, Ft. Myers, Golden Gate, Lehigh Acres, Estero, Cape Coral. Looking for specific suggestions to improve the value of your SW Florida home before listing it for sale? Call me today for an in-home market evaluation!

Want to Sell Your House? Think Like Real Estate Agents Do! Naples, Ft. Myers, Bonita Springs, Marco Island, Cape Coral

Want to Sell Your House? Think Like Real Estate Agents Do! Naples, Ft. Myers, Bonita Springs, Marco Island, Cape Coral. Because real estate agents in SW Florida see everything in the market, we have a pretty good idea about why some houses sell (and why others sit on the market for years). Want to Sell Your House? Think Like Real Estate Agents Do! Naples, Ft. Myers, Bonita Springs, Marco Island, Cape Coral.Whether as buyer or seller, anyone planning to enter SW Florida’s real estate market this summer can benefit from some of the tactics and factors that SW Florida real estate agents keep in mind when as they go about the business of making home sales happen:
When Speed Matters…
When the overriding goal is a quick sale, leading with a price slightly lower than what comparables suggest it is really worth is the surest tactic. When a home is priced at only a fraction below market value, real estate agents know it will draw much more attention than higher-priced neighbors. Most sellers have a built-in resistance to the very Want to Sell Your House? Think Like Real Estate Agents Do! Naples, Ft. Myers, Bonita Springs, Marco Island, Cape Coral.idea!—often because aren’t aware of how a home loses fair value as it sits on the market. Pricing a listing slightly lower right out of the gate can mean minimizing the likelihood of a lengthy DOM (Days On Market)—and the possibility of a disappointing final sale price.
Pre-approval: It’s Not Final Approval
Most real estate agents in SW Florida have seen this more than once: a buyer who is pre-approved for a mortgage begins running up credit cards in preparation for the move into their new home. Because lenders often re-examine a home buyer’s credit during the closing proceedings, the result can be a higher than originally quoted interest rate, or even an outright denial. IOW, it’s wise to continue to spend frugally until keys are in hand!
It’s a Long Process
Want to Sell Your House? Think Like Real Estate Agents Do! Naples, Ft. Myers, Bonita Springs, Marco Island, Cape Coral.Real estate agents know that selling a house takes a finite amount of time, beginning with preparation, through marketing, then paperwork, then finally, closing…and that’s not counting any unexpected turns-of-events that sometimes just happen. Whether you are buying or selling, it pays to be mentally and emotionally prepared to remain as flexible as possible with all the other ongoing events in your life until the transaction is a done deal.
Want to Sell Your House? Think Like Real Estate Agents Do! Naples, Ft. Myers, Bonita Springs, Marco Island, Cape Coral If you’re considering buying or selling a home in SW Florida this summer, there’s every reason to start preparing as early as possible. Contact me for an initial consultation—we can set up a timeline that will be the first step in keeping you well-informed from start to finish!

Pocket Listings – Is Selling Your SW Florida House under the Radar a Good Idea? Naples, Ft. Myers, Isles Of Capri, Estero, Sanibel Island

 Pocket Listings – Is Selling Your SW Florida House under the Radar a Good Idea? Naples, Ft. Myers, Isles Of Capri, Estero, Sanibel Island. Pocket Pocket Listings – Is Selling Your SW Florida House under the Radar a Good Idea? Naples, Ft. Myers, Isles Of Capri, Estero, Sanibel Island.listings are a hot topic nowadays in SW Florida. Nationwide, the use of pocket listings is on the rise and for good reason – with house prices rising, many homeowners are willing to “test the waters” and see if they can sell their home for a decent price while maintaining much of their privacy.

What is a “pocket listing” you ask? It’s when a seller and real estate agent sign a listing agreement that permits the agent to place the property for sale without adding the information into the MLS. We’ll take a look at the benefits and the negatives of selling your SW Florida home via a pocket listing.

The Upside: Greater Privacy
One of the biggest benefits of a pocket listing is that it can offer sellers greater convenience, flexibility and privacy then a conventional listing. By keeping their home off the MLS (and not placing a lawn sign in front of their Pocket Listings – Is Selling Your SW Florida House under the Radar a Good Idea? Naples, Ft. Myers, Isles Of Capri, Estero, Sanibel Island.property) the general public is not alerted to the fact that their SW Florida home is for sale. This means not having to deal with open houses and unannounced showings. Another added benefit is that it provides the seller with additional time to perform repairs and resolve any concerns they may have before committing to a sale. Because of the no fuss style in which a pocket listing is offered many people look at it as a way to maintain their privacy while being able to test how the maximum amount they would fetch for the sale of their home.

The Down Side of Pocket Listings
Pocket Listings – Is Selling Your SW Florida House under the Radar a Good Idea? Naples, Ft. Myers, Isles Of Capri, Estero, Sanibel Island.The biggest drawback to home sellers when offering a pocket listing is that it will drastically reduce the exposure of your SW Florida home. Other real estate agents and the public will not know that your home is for sale and for that reason it will fall under the radar of most potential home buyers. This can mean a significantly reduced sales price in markets where prices are generally rising and supply limited as this will limit the likelihood of receiving multiple offers (and possibly a bidding war) on your home.

 Pocket Listings – Is Selling Your SW Florida House under the Radar a Good Idea? Naples, Ft. Myers, Isles Of Capri, Estero, Sanibel Island. If you’re thinking of selling your home and aren’t sure if a pocket listing is right for you, give me a call and we can discuss your options.

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