Welcome to Southwest Florida Real Estate

Posts tagged ‘Boating’

Smaller SW Florida Houses Sometimes Make Big Sense, SW Florida Real estate, Naples, Fort Myers, Bonita Springs

Smaller SW Florida Houses Sometimes Make Big Sense, SW Florida Real Estate, Naples, Fort Myers, Bonita Springs. It just might be that a groundswell is spreading throughout the home-buying public. Smaller SW Florida Houses Sometimes Make Big Sense, SW Florida Real Estate, Naples, Fort Myers, Bonita SpringsIn SW Florida, smaller houses that used to be difficult to sell are rising in popularity, and I can guess why.

First, a little history. Back in 1950, what we would consider smaller houses were the rule: the average square footage came in at just 983 (try to imagine the ‘average’ family with 2 kids, 2 adults and Lassie all shoehorned in there!). By 2006, that figure had blown up to 2,248 square feet—and we all know about the bigger McMansions—just in time for the financial meltdown. Within the next few years, for the first time ever, the up sizing trend had begun to reverse. Only three years later, average square footage was 2,135.

In terms of size, today’s buyers and sellers are meeting in a much more balanced market. SW Florida Smaller SW Florida Houses Sometimes Make Big Sense, SW Florida Real Estate, Naples, Fort Myers, Bonita Springssmaller houses are no longer automatically spurned. In fact, smaller houses are the first choice for a growing number of buyers. Why?
When you really analyze it, a surprising amount of housing space is seldom used. Lifestyle changes dictate that formal dining and living rooms are much less frequently occupied. And it’s a fact that we only use a small percentage of the things that we own, so in actuality, some of many homes’ area amount to extremely high-end storage space. By getting rid of some of that unused stuff, the space it takes up can become unneeded.

Smaller SW Florida Houses Sometimes Make Big Sense, SW Florida Real Estate, Naples, Fort Myers, Bonita SpringsSmaller SW Florida Houses Sometimes Make Big Sense, SW Florida Real Estate, Naples, Fort Myers, Bonita Springs. The old rule of thumb nationally is that property taxes average about 1% of the value of a home. Smaller houses mean lower tax bills.
Maintenance bills can be substantially lower in smaller SW Florida houses. It varies greatly by age and style, but one estimate has it that annual maintenance bills usually run between 1%-3% of total value.

Whether your hire help or handle it yourself, a smaller home can be much faster to clean. This may be less true when clutter is allowed to take over, but for those who are vigilant clutter-clearers, it means freeing more time for doing the things that you love. If you are paying someone else clean your home, it can easily equate to significant savings over the course of a year.
According to the American Psychology Association, money is the largest single contributor to stress. Nearly three-quarters of Americans admit that financial problems are their biggest source ofSmaller SW Florida Houses Sometimes Make Big Sense, SW Florida Real Estate, Naples, Fort Myers, Bonita Springs stress. Purchasing a smaller house with an accompanying smaller mortgage can directly translate into a mellower quality of life.

Smaller SW Florida Houses Sometimes Make Big Sense, SW Florida Real Estate, Naples, Fort Myers, Bonita Springs. A smaller SW Florida house may not be for everyone, but today’s buyers are considering the advantages with a much more open minds. If you are giving some serious thought to buying or selling a home, let’s talk about the wide range of possibilities on the SW Florida market today.

Understanding Real Estate Terms – From Appraisals To Comps, SW Florida Real Estate, Naples, Marco Island, Ft. Myers

Understanding Real Estate Terms – From Appraisals To Comps, SW Florida Real Estate, Naples, Marco Island, Ft. Myers. When you’re selling your home or other real property on your own, you don’t have to know everything about the process. It does help to have a practical knowledge of the Understanding Real Estate Terms – From Appraisals To Comps, SW Florida Real Estate, Naples, Marco Island, Ft. Myers.terms that come up during the process.

Keep in mind, these aren’t intended as “be all, end all, penultimate” definitions.  They’re working definitions for pragmatic folks. Let’s go…

1) Acceptance – A legal term referring to the acceptance of a buyer’s offer by the seller. Acceptance is often preceded by a number of counter offers between the parties.

2) Appraisal – a professional opinion of the value of real property.  Most jurisdictions have careful rules defining who may call themselves an appraiser, and most lenders have a “stable” of approved appraisers whom they use regularly.  Typically, the lender making the new mortgage loan will require that the property appraise for at least as much as the purchase price.  Occasionally, a buyer will require the same thing in an all cash transaction.

3) Bridge Loan – Short term loans used to “bridge” any time gap between the sale of a home and purchase of the next one. These loans can be valuable when escrow is delayed on the sale of a home and the seller has committed to the purchase of another home. Bridge loans are also known as “panic Understanding Real Estate Terms – From Appraisals To Comps, SW Florida Real Estate, Naples, Marco Island, Ft. Myers.loans”, but can be a life saver. Understanding Real Estate Terms – From Appraisals To Comps, SW Florida Real Estate, Naples, Marco Island, Ft. Myers.

4) Coinciding Settlements – when a buyer needs the funds from the sale of his prior home (which is under contract to be sold) in order to purchase his next home, he may well make settlement under his sale a contingency for settling on the home he is purchasing.  In reality, the sales don’t usually coincide.  They usually take place back to back.  Funds from the first are often wire transferred to the second.  

5) Closing – Depending upon the state you live in, Closing can have different meanings. Generally, the closing of a real estate transaction refers to the exchange of necessary documents, execution of the same and transfer of money.

6) Comps – This term refers to the sales prices of similar properties in the area of a house in question. Comps are used to help determine the fair market value of a property.

Understanding Real Estate Terms – From Appraisals To Comps, SW Florida Real Estate, Naples, Marco Island, Ft. Myers.7) Conditions – any conditions which must be met before the sale can be consummated.  Some typical conditions include things like the property’s appraising for the purchase price or more, the property’s being in good condition when a home inspection is done, the buyer’s loan being approved.

Understanding Real Estate Terms – From Appraisals To Comps, SW Florida Real Estate, Naples, Marco Island, Ft. Myers. As you can image, there are many real estate terms for which you have a general understanding. In our next article, we continue with the terms starting with “Condominium.”

Enjoying Vacation Time Other Than SW Florida Like Naples Or Fort myers, Oahu Vacation Ideas In Hawaii

Enjoying Vacation Time Other Than SW Florida Like Naples Or Fort Myers, Oahu Vacation Ideas In Hawaii. The island of Oahu in Hawaii is both beautiful and diverse.  A majority of people are drawn here to the excitement of Waikiki Beach with its colorful clubs and taste filled restaurants.

Enjoying Vacation Time Other Than SW Florida, Oahu Vacation Ideas In HawaiiThe island activities around Oahu range from surfing lessons and canoeing to swimming with the dolphins and scuba diving.  No matter what you or your family like to do on vacation, you can find something for everyone on Oahu island.

Adventure Those that like adventure can choose from a wide variety of water sports and land activities on Oahu.  If you would like to spend your vacation in or near the water, you should try surfing, scuba diving, or windsurfing.  The land activities here include hiking through rain forests, biking along the mountain ranges, even parachuting.

If you happen to be staying on Waikiki Beach, there are many shops that rent outrigger canoes, surf boards, and other gear on the beach.  You can even go to the Kapiolani Park for tennis, archery, and even jogging.

Enjoying Vacation Time Other Than SW Florida Like Naples Or Fort Myers,  Oahu Vacation Ideas In Hawaii. Romance RomanticEnjoying Vacation Time Other Than SW Florida, Oahu Vacation Ideas In Hawaii beach vacations on Oahu Island range from renewing your wedding vows to luxurious beach service at one of the several hotels.  If you’ve never tasted pink beer or champagne, Mai Tai Bar is the place you should check out.

If you would rather stay in a more secluded area, Kahala Mandarin Oriental is 10 minutes away from Waikiki Beach and offers a long sandy beach, great service, and swimming with the dolphins – which is something everyone is sure to enjoy.

Family beach vacations Oahu is a destination that offers many different activities for the entire family.  You can choose from children’s programs at Waikiki Beach hotels, hands on programs, and a variety of watersports. The Honolulu Zoo, the Waikiki Aquarium, and the See Life Park of Hawaii are just a few of the attractions the whole family can enjoy together.

The Waikiki Beach is shallow and water is calm almost year round, especially in the winter months when the surf stayes under three feet.  There are certain parts of the beach that have a life guard on duty watching over swimmers and surfers.

Enjoying Vacation Time Other Than SW Florida, Oahu Vacation Ideas In HawaiiCulture If you are interested in Hawaiian culture on your beach vacation, Oahu Island offers a selection of museums, historical attractions, and several exhibits.  With several villages and culture exhibits, you can learn anything you desire about the culture of Hawaii.

Enjoying Vacation Time Other Than SW Florida Like Naples Or Fort Myers, Oahu Vacation Ideas In Hawaii. When the time comes for your beach vacation, the island of Oahu is a dream come true.  The entire family will love it here, with the island also being perfect for just a lovers vacation.  If you’ve never had the pleasure of going to Hawaii – there is no better time than now.

Staging Approaches To Boost Any SW Florida Home Sale, SW Florida Real Estate, Naples, Ft. Myers

Staging Approaches to Boost any SW Florida Home Sale, SW Florida Real Estate, Naples, Fort Myers, Isles Of Capri, Bonita Springs. With spring already upon us, we stand at the threshold of SW Florida’s first major selling season of 2014. If you are preparing to add your own property to the SW Florida home listings, the International Association of Home Staging Professionals would like to draw your Staging Approaches to Boost any SW Florida Home Sale, SW Florida Real Estate, Naples, Fort Myers, Isles Of Capri, Bonita Springs.attention to some statistics that bolster their members’ proposition. None is more compelling than this one: non-staged homes remain 79 days longer on market than their professionally-staged neighbors.

Still, since not everyone hires a professional staging company to work their magic, you’d think there would be a few DIY alternatives that would well worth doing. Of course, there are: and some go beyond the most well-known staging rules that are basic to any home sale:

1. De-clutter (then de-clutter again). The stager’s single most important line item remains this: de-clutter. There is little cost to de-cluttering a home (usually no more than a storage unit’s rental). The professional insight is that once you have done it, go back through the house and do it again! That second round might only involve boxing up a few remaining personal knick-knacks, but it can also suddenly reveal Staging Approaches to Boost any SW Florida Home Sale, SW Florida Real Estate, Naples, Fort Myers, Isles Of Capri, Bonita Springs.items that clash with a room’s overall color palette.

2. Light(en) it up: Neutral colors are the rule for staging a home, but good light can be equally important. Make sure every room is well-lit, with clean windows, bright light bulbs (some do dim over time), and plenty of lamps or fixtures. If possible, disperse the height of lighting sources by mixing floor and table lamps, windows and overhead fixtures.

3. Find the focal points: The largest item in the room does not always have to be the focal item. If you have an antique chest or a captivating painting, see if you can arrange the room so that it’s the first thing your eye picks up as you enter the room. A strong focal point gives a sense of character to a room. It Staging Approaches to Boost any SW Florida Home Sale, SW Florida Real Estate, Naples, Fort Myers, Isles Of Capri, Bonita Springs.works to your advantage, since the focal point naturally emphasizes the strongest feature of the room.

Staging Approaches to Boost any SW Florida Home Sale, SW Florida Real Estate, Naples, Fort Myers, Isles Of Capri, Bonita Springs. These are approaches that do take some time and effort—but imaginative staging really does make an impact on perceived value, and, as a result, time-on-market. For more SW Florida home selling insights, give me a call anytime to discuss your own real estate plans!

SW Florida Real Estate, Seminars Are The Most Effective Way Of Being Educated In Real Estate. Naples, Ft. Myers, Marco Island, Estero

SW Florida Real Estate, Seminars Are The Most Effective Way Of Being  Educated In Real Estate. Naples, Ft. Myers, Marco Island, Estero. With the time Tax foreclosures made a huge progress and attract a enchant number of investor toward because of the smart revenue, any one who is new to real estate investment and is considering to buy a foreclosure property must have to be realistic SW Florida Real Estate, Seminars Are The Most Effective Way Of Being  Educated In Real Estate. Naples, Ft. Myers, Marco Island, Estero.enough regarding the thing which he is going to do. Foreclosure investment is not an ideal term for those who just begin it, they should fist have to get at least a couple of years experience with more traditional real estate investment before making their way to foreclosure.   

 Many peoples invest their assets in the hope that they will be getting huge profit through it but in spite there lies some awful fact which must be known in order to avoid any complication, one disaster foreclosure investment can wipe out your whole capital and your enthusiasm for all the real estate investment.   

For those who have just started foreclosure business must to attend a reasonably good number of seminars in order to strengthen their foundation in foreclosure field and most importantly to clarify their mind and of course to eliminate any type of misconception concerning tax foreclosure. Different real estate agencies arrange various seminars time to time to ensure that the correct information can be transmit in this way to the investors who are willing to invest their capital in it. SW Florida Real Estate, Seminars Are The Most Effective Way Of Being  Educated In Real Estate. Naples, Ft. Myers, Marco Island, Estero.Best way is to stay up to date with existing laws and recent legislation that affect the real estate industry.

SW Florida Real Estate, Seminars Are The Most Effective Way Of Being  Educated In Real Estate. Naples, Ft. Myers, Marco Island, Estero. Choose from popular seminars such as Landlord and Tenant Law, Fundamentals of Real Estate Closings, and Zoning and Land Use. And you can also subscribe your self to a good real estate site which can send you time to time alert, time has told us that successful real estate professionals need to remain current with the real estate seminar series which brings the vital knowledge and information to agents as well as to the novice one in their local market.

SW Florida Real Estate, Seminars Are The Most Effective Way Of Being  Educated In Real Estate. Naples, Ft. Myers, Marco Island, Estero.SW Florida Real Estate, Seminars Are The Most Effective Way Of Being  Educated In Real Estate. Naples, Ft. Myers, Marco Island, Estero. Majority of the seminars are directed by nationally acclaimed real estate experts who have successfully made money investing in real estate.  They educate attendees on techniques, methods and strategies which can be used to create a wining transaction. And what would be a better way than getting experience form some one who has made huge progress in foreclosure. Get to know government policies that have property records and tax assessment records. Get to know the property values in an area where you are going to invest.

Do You Work From Home? Buy Your Next Home With Your Office In Mind. SW Florida Real Estate, Naples, Ft. Myers

Do You Work From Home? Buy Your Next Home With Your Office In Mind. SW Florida Real Estate, Naples, Ft. Myers. The flexibility afforded by a “zero-commute” combined with the skyrocketing price of gasoline has strengthened the case for full-time teleworking and telecommuting.  According Do You Work From Home? Buy Your Next Home With Your Office In Mind. SW Florida Real Estate, Naples, Ft. Myers.to an Environmental Protection Agency (2004) study:

 “Americans spend an average of 46 hours per year stuck in traffic.  Gridlock produces more than $63 billion in congestion costs per year”

The artist community has been well acquainted with the use of work/living spaces for years, but improvements in technology have made the benefits of teleworking and occasional telecommuting more attractive to general consumers.  According to the key findings form the International Telework Association & Council (ITAC) Telework America (2000) study:

 “Home-based teleworkers also have larger homes, on average, than non-teleworkers; the difference amounting to about 500 square feet.  The most popular place for an office in these larger homes is a spare bedroom, with the living room a distant second.  The primary home telework activity is computer work (55% of total activities), followed by telephoning, reading, Do You Work From Home? Buy Your Next Home With Your Office In Mind. SW Florida Real Estate, Naples, Ft. Myers.and—averaging 7% of the time—face to face meetings.”

As you purchase your next home, there are certain factors to consider if you need to set up a new home office:

Do You Work From Home? Buy Your Next Home With Your Office In Mind. SW Florida Real Estate, Naples, Ft. Myers. Make sure that your high-tech needs can be met.  Have a qualified electrician inspect the wiring of the house to see if the system can handle the extra power load that your home office requires.   Older homes may need significant upgrades to handle the extra power, while newer homes are built with more energy-efficient systems to handle the additional power along with heating/air conditioning requirements. If you use cable, DSL or satellite internet access, check with your local service provider to see if access is available in your new neighborhood. Shop around for your telephone provider—in some cases, business service bundles may be more cost effective than regular residential service.

Do You Work From Home? Buy Your Next Home With Your Office In Mind. SW Florida Real Estate, Naples, Ft. Myers.Designate where your office space will be.  Determine the amount of space you will need to accommodate your work style and space.  In many cases a spare bedroom or living room space can be used, if a formal den option is not available.  If your work requires heavy telephone usage or just heads-down concentration, you may want to consider utilizing a room with a door.  Doors can be closed to reduce interruptions from other family and household noises. 

Plan your office blueprint to include all required furniture, bookcases, computers, fax, and printers.  Make sure to allow for filing and storage space for files and extra office supplies.  Lighting is critical for computer or assembly work, so make sure to allow for direct sunlight along with any specific task lighting that may be necessary.  Select flooring options that will allow you to work comfortably—you may wish to go with hardwood or laminate flooring to allow for your chair to move smoothly across the floor. Install enough phone lines to cover your home, business and fax machines needs. Do You Work From Home? Buy Your Next Home With Your Office In Mind. SW Florida Real Estate, Naples, Ft. Myers. 

Is the office easily accessible?  If you will expect regular package deliveries, make sure that your designated office is easily accessible to the front door of the home.  This is also necessary if you will need to meet clients or visitors in your office and would like to ensure a professional appearance for your business.

Do You Work From Home? Buy Your Next Home With Your Office In Mind. SW Florida Real Estate, Naples, Ft. Myers. Find out about local business requirements.  Some cities have zoning restrictions and guidelines for work/living spaces along with tax implications.  Make sure to check with your local government to determine if special restrictions exist.

Buying SW Florida Real Estate, Understanding Title Insurance. Naples, Ft. Myers, Bonita, Springs, Cape Coral

Buying SW Florida Real Estate, Understanding Title Insurance. Naples, Ft. Myers, Bonita, Springs, Cape Coral. Title to a property is a record detailing the owners of the property and rights associated with the ownership. Title typically shows a progression of ownership from the first owner to the Buying SW Florida Real Estate, Understanding Title Insurance. Naples, Ft. Myers, Bonita, Springs, Cape Coral.current one. Title is a fairly simple concept, but when it goes wrong it is a nightmare. That is where title insurance comes in.

Title Insurance

Title insurance guarantees that the title on a property is marketable when you purchase the home, condo, land, etc. You should always pay for title insurance. It typically costs a few hundred dollars and will save you a bundle if problems arise.

When you buy title insurance, a title insurance company researches the title for the property. The insurance company will look to see if the title is clear. “Clear” simply means that the seller is truly transferring title to you and no other person can claim ownership. While this sounds fairly simple, rest assured that title problems arise all of the time.

Title Problems

Buying SW Florida Real Estate, Understanding Title Insurance. Naples, Ft. Myers, Bonita, Springs,Buying SW Florida Real Estate, Understanding Title Insurance. Naples, Ft. Myers, Bonita, Springs, Cape Coral. Cape Coral. You might be wondering how you could possibly have title problems. Here are a few examples:

1. Divorcing Couples – Divorce is unpleasant and sometime very ugly. In particularly nasty situations, one spouse may attempt to sell a home without telling the other. To gain clear title, you need both spouses to sign off on the sale. If you don’t, you are going to become a party of the divorce proceedings. Now, wouldn’t that be fun?

2. Estate Sales – If you are purchasing a house as part of an estate sale, there can be real problems. The heirs may not be getting along and in an effort to “get what’s mine”, may try to sell the residence without including all the heirs in the transaction. If you buy this home, you could end up involved in a lawsuit filed by an heir left out of the transaction.

3. Ingress and Egress Issues – Title to a property can have technical issues related to egress and ingress. Occasionally, one finds title to a property that is so messed up that the owner doesn’t have Buying SW Florida Real Estate, Understanding Title Insurance. Naples, Ft. Myers, Bonita, Springs, Cape Coral.the right to enter or leave the land because to do so would require crossing another person’s property. In short, the property is landlocked and something must be worked out with the neighbors. Typically, a solution comes in the form of hard, cold cash…lots of it.

These are just a few issues that can arise with title. With real estate, unique issues can arise all the time.

Buying SW Florida Real Estate, Understanding Title Insurance. Naples, Ft. Myers, Bonita, Springs, Cape Coral. If you buy title insurance, you don’t have to worry about problems with title. If a problem arises, you calmly pick up the phone and call the title insurance company. The insurance company will come up with a solution, even if it means paying you for bad title.

Specific Performance Demands In Real Estate Transactions, SW Florida Real Estate, Naples, Ft. Myers, Marco Island, Estero

Specific Performance Demands In Real Estate Transactions, SW Florida Real Estate, Naples, Ft. Myers, Marco Island, Estero. Every so often, real estate transactions can go bad. This often results in one party demanding the other specifically perform pursuant to the real estate contract.

Specific Performance Demands In Real Estate Transactions, SW Florida Real Estate, Naples, Ft. Myers, Marco Island, Estero.Specific Performance Demands In Real Estate Transactions

Once a seller and buyer agree on a price for a property, a real estate contract is signed. The contract contains provisions each must comply with, provisions that are legally binding. If problems arise during escrow, particularly if things turn nasty, one party may look to legal remedies to force the other party to do something.

Specific performance is a legal demand that a party perform some act. Although the theory can be applied to many situations, it is often seen in real estate transactions. This is because courts have determined that property is unique, and specific performance is often more valuable than monetary damages.

Specific Performance Demands In Real Estate Transactions, SW Florida Real Estate, Naples, Ft. Myers, Marco Island, Estero. In the case of real estate, specific performance demands often involve the conveyance of title. Having met the conditions of the contract, the buyer demands the seller convey title to them. Why would sellers not do this automatically? Situations can include seller Specific Performance Demands In Real Estate Transactions, SW Florida Real Estate, Naples, Ft. Myers, Marco Island, Estero.remorse, basic flakiness or the realization the seller accepted far too low an offer compared to what the market would produce.

Specific performance demands are a two-sided situation. Courts often are reluctant to grant them because human nature is such that the defendant will often poison a situation by damaging the property or screwing up title. This does not mean the seller is off the hook.

While courts are hesitant to grant specific performance demands, they are not hesitant to enforce real estate contracts. Depending upon the laws in your state, the court may grant something called a lis pendens. The lis pendens represents the equivalent of the monetary damages suffered by the buyer. More importantly, it is recorded against the deed of the seller’s property. This effectively forces the Specific Performance Demands In Real Estate Transactions, SW Florida Real Estate, Naples, Ft. Myers, Marco Island, Estero.seller to pay the buyer if the seller ever hopes to sell the property. When a title insurance company reviews title for any subsequent sale, it will notify the new purchaser of the lis pendens and refuse to issue title insurance. With no title insurance, the seller is going to have an extremely hard time moving the property. In fact, it will be nearly impossible as it is difficult to imagine any buyer that would want to get involved in the dispute.

Specific Performance Demands In Real Estate Transactions, SW Florida Real Estate, Naples, Ft. Myers, Marco Island, Estero. While there can be sniping in real estate transactions, most go fairly smoothly. When they fall apart, specific performance and lis pendens can become dominant issues.

SW Florida Rentals, Getting Your Security Deposit Back. Naples, Ft. Myers, Bonita Springs, Lehigh Acres

SW Florida Rentals, Getting Your Security Deposit Back. Naples, Ft. Myers, Bonita Springs, Lehigh Acres. For many renters the subject of the security deposit is somewhat of a touchy subject. Most renters assume they should receive their security deposit back in its entirety as long as there is no significant damage done to the apartment. However, this is rarely true as there are number of factors which contribute to whether or not the security deposit or a portion of the deposit will be returned to the renter when they vacate the premises.

Did You Do Any Major Damage?

Certainly doing major damage to the apartment such as putting holes in the walls, breaking appliances or tearing up the flooring may warrant the security deposit being kept but even in these cases the leasing agent must justify these costs. In other words the leasing agent cannot use one damaged item to justify keeping the whole security deposit. Rather the leasing agent is obliged to determine a cost to repair the item. If this estimate is large enough to justify not returning the security deposit the renter should be informed of the estimated cost of repairing the apartment.

Is Your Apartment Clean Enough?

All apartments should be cleaned thoroughly before the tenant vacates the property. This shouldSW Florida Rentals, Getting Your Security Deposit Back. Naples, Ft. Myers, Bonita Springs, Lehigh Acres. include extensive cleaning of all rooms of the apartment including the bedrooms, bathrooms and any common areas. A cleaning should also include cleaning of all of the blinds in the apartment. Blinds can be rather difficult to clean and many leasing agents charge approximately $10 per blind if they deem there is a need to clean these items. This can add up rather quickly if there are a number of windows in the apartment.

SW Florida Rentals, Getting Your Security Deposit Back. Naples, Ft. Myers, Bonita Springs, Lehigh Acres. Many leasing agents also perform a number of standard cleaning functions when any resident vacates the property. This may include items such as cleaning out the refrigerator, shampooing the carpet or repainting the walls. When these items are required, there is typically a fee associated with each item. In many cases, adding up these required fees results in a number which is likely already approaching the sum of the security deposit. Additionally, leasing agents often only allow for one hour of cleaning services SW Florida Rentals, Getting Your Security Deposit Back. Naples, Ft. Myers, Bonita Springs, Lehigh Acres.to prepare an apartment for the next residents. This is rarely enough time to complete the work and therefore renters wind up being charged an additional fee at an hourly rate.

Have You Read Your Contract Documents?

Renters who want to have the greatest chance of having a large portion of their security deposit refunded to them should be very familiar with their contract documents. This is important while living in the apartment as well as while getting ready to vacate the apartment. It is important to be familiar with the contract terms while living in the apartment because it can prevent the renter from making decorating choices which are explicitly prohibited by the rental SW Florida Rentals, Getting Your Security Deposit Back. Naples, Ft. Myers, Bonita Springs, Lehigh Acres.agreement. These types of decisions can be costly in the long run because they may result in the renter being assessed for perceived damages by the leasing agent.

SW Florida Rentals, Getting Your Security Deposit Back. Naples, Ft. Myers, Bonita Springs, Lehigh Acres. Renters should also carefully review the contract documents as they are preparing to vacate the property. This is important because it may help the renter to clean and make repairs to the apartment in accordance to guidelines set forth by the leasing agent. Doing this will make it much more likely the renter will not be assessed exorbitant fees at the conclusion of the rental agreement.

Understanding Re-Financing, SW Florida Real Estate, Naples, Isles Of Capri, Ft. Myers, Cape Coral, Marco Island

Understanding Re-Financing, SW Florida Real Estate, Naples, Isles Of Capri, Ft. Myers, Cape Coral, Marco Island.  Understanding the process of re-financing can be quite dizzying. Homeowners who are considering re-financing might initially be overwhelmed by the number of options available to them. However, after taking some time to educate themselves about the process, they will likely find Understanding Re-Financing, SW Florida Real Estate, Naples, Isles Of Capri, Ft. Myers, Cape Coral, Marco Island.the process is not nearly as daunting as they had imagined. This article will discuss some of the options available to those interested in re-financing as well as some of the important factors to consider in order to determine whether or not refinancing is worthwhile.

Consider the Options

Homeowners have quite a few options available to them when they are considering the possibility of re-financing their home. The most significant decision is the type of loan they will choose. Fixed rate mortgages and adjustable rate mortgages (ARMs) are the two main types of mortgages the homeowners will likely encounter. Additionally there are hybrid loan options available.

As the name implies, a fixed rate mortgage is one in which the interest rate remains constant throughout the duration of the loan period. This is an especially favorable type of loan when the homeowner has credit which is sufficient enough to lock in a low-interest rate.

Understanding Re-Financing, SW Florida Real Estate, Naples, Isles Of Capri, Ft. Myers, Cape Coral, Understanding Re-Financing, SW Florida Real Estate, Naples, Isles Of Capri, Ft. Myers, Cape Coral, Marco Island.Marco Island. ARMs are mortgages where the interest rate varies during the course of the loan period. The interest rate is usually tied to an index such as the prime index and is subject to rises and falls in accordance with this index. This is considered a riskier type of loan and is therefore often offered to homeowners who have less favorable credit scores.

Although ARMs are considered somewhat risky there is usually a certain degree of protection written into the loan agreement. This may come in the form of a clause which limits the amount the interest rate can increase, in terms of percentage points, over a fixed period of time. This can protect the homeowner from sharp increases in the interest rates which would otherwise considerably raise the amount of their monthly payments.

Hybrid loans are mortgages which combine a fixed element with an adjustable element. An example of this type of loan is a situation where the lender may offer a fixed interest rate for the first five years of the loan and a variable interest rate for the remainder of the loan. Lenders typically offer a lower Understanding Re-Financing, SW Florida Real Estate, Naples, Isles Of Capri, Ft. Myers, Cape Coral, Marco Island.introductory interest rate for the fixed period to make the mortgage seem more enticing.

Consider the Closing Costs

The closing costs associated with re-financing should be carefully considered when deciding whether or not to re-finance the home. This is significant because when homeowners re-finance their home they are often subject to many of the same closing costs as when they originally purchased the home. These costs may include, but are not limited to appraisal fees, application fees, loan origination fees and a host of other expenses. These costs can be quite significant. The closing costs will be significant when the homeowner considers the overall savings associated with re-financing.

Consider the Overall Savings

When deciding whether or not to re-finance, the overall savings is one factor the homeowners should carefully consider. This is important because re-financing is typically not considered worthwhile unless it results in a financial savings. Although some homeowners refinance to lower monthly costs and are not concerned with the overall picture, most homeowners consider whether or not they will be saving money by refinancing.

Understanding Re-Financing, SW Florida Real Estate, Naples, Isles Of Capri, Ft. Myers, Cape Coral, Marco Island. The amount of money the homeowner will save when re-financing is largely Understanding Re-Financing, SW Florida Real Estate, Naples, Isles Of Capri, Ft. Myers, Cape Coral, Marco Island.dependent on the new interest rate in relation to the old interest rate. Other factors come into play such as the remaining balance of the existing loan as well as the amount of time the homeowner intends to stay in the home before selling the property. It is important to note that the amount of money saved by negotiating a lower interest rate is not equal to the entire savings. The homeowner must determine the closing costs associated with re-financing and subtract this sum from the potential savings. A negative number would indicate the new interest rate is not low enough to offset the closing costs. Conversely a positive number indicates an overall savings. With this information the homeowner can decide whether or not he wishes to re-finance.

Follow

Get every new post delivered to your Inbox.

Join 47 other followers