House Hunting in SW Florida Can Offer Surprises, Naples, Marco Island, Cape Coral!

 House Hunting in SW Florida Can Offer Surprises, Naples, Marco Island, Cape Coral! When you go house hunting in SW Florida, you’re likely to share a lot of the same basic assumptions that most everybody does. Whether you have a lengthy list of hard-and-fast requirements or are in more of a “just seeing what’s out there” mindset, you’re probably assuming that you’ll “know it when you see it.” That’s not necessarily true—for a couple of logical reasons.

First off, unless price is literally no object, your budget will dictate the segment of current SW Florida listings that your house hunting will include. Among those candidate properties, it’s unlikely that all of them share the same features—the same positives and less-than-positives. You may find that you really get a great feeling about one home, only upon reflection to realize that some of its drawbacks are serious enough to eliminate it from contention. Likewise, another home that provided a so-so first impression could wind up seriously in the running if it rings up the best collection of strong points.

Then, there’s always the unexpected. A good example was the couple who were fairly sophisticated when it came to house hunting experience. They had enough home ownership history to have developed clear ideas about what they wanted: 3 or 4 bedrooms, a yard that was large enough to accommodate a moderate vegetable garden and the family dog (but not so large that maintenance would become an issue).  The only absolute caveats were that it could not be so close to a busy thoroughfare that auto noises would be an annoyance; and that if there were a swimming pool, it could not be an indoor one. NOT! The husband had experience with taking care of pools, and would not countenance dealing with a steamy, chlorine-smelling indoor pool. Period.

Those were simple enough requirements. None would eliminate a good sampling of the listings that were available at the time, so the house hunting proceeded. After nixing the usual number that left too much to be desired, there wound up being a handful of attractive candidate properties. In the end, there were two that rated a couple of return visits. Although neither could have been called the couples’ perfect dream houses, they were close to a final decision. Just then a new house came onto the market. It was slightly more expensive (and larger) than the others, but with positively beautiful yards, front and back, and (you guessed it!)…an indoor pool.

To bring the story to its inevitable end, they’ve lived in that house for years. The indoor pool had special air-moving equipment that erased the humidity and left no chlorine smell whatever. The husband says it is by far the easiest pool he’s ever dealt with. The garden is just what his wife was hoping for. It turns out to be their dream house.

House Hunting in SW Florida Can Offer Surprises, Naples, Marco Island, Cape Coral! The moral of the story is that there’s a lot to say for keeping a balance between having an organized approach to your house hunting and keeping an open mind. To which I have to add that I hope you’ll give me a call when it comes time for your own {Your Town} house hunting!

For Keen SW Florida Bargain Seekers, “Bank-Owned” Rates Study, Naples, Isles Of Capri!

For Keen SW Florida Bargain Seekers, “Bank-Owned” Rates Study, Naples, Isles Of Capri! If you are a house hunter who isn’t reluctant to dig in and roll up your sleeves, it could be worth your while to take a look at SW Florida “bank-owned” offerings. Deciding to do that is less popular than you’d think.

Bank-owned is a word that can summon up all sorts of negative connotations, causing even people who usually think of themselves as unemotional to hang back. Like “REO” (short for real estate-owned, a synonym for bank-owned), it is applied to SW Florida homes whose ownership has been reclaimed by the lender. Foreclosures and real estate auctions that follow are never jolly circumstances, so many don’t even consider looking at the subject residences.

It is partly because of the inauspicious histories that such properties can carry with them that the majority of SW Florida home seekers automatically shy away. Yet it can be forcefully argued that, especially for prospective homeowners who are on the lookout for bargains, the “bank-owned” moniker ought to draw special attention. SW Florida’s bank-owned homes usually take some additional care in how they are examined and purchased, but they can also present value that is worth the extra effort.

Because a bank-owned home is being offered for sale by the lending institution that holds its deed, the precise way any one can be purchased varies depending upon the policies of the company involved. Some of the mythology about homes that have been through foreclosure are not true—for instance, it is not usually true that only cash offers will be considered, or that an auction will be involved (usually that phase has already come and gone).

What IS definitely true is that bank-owned homes have a better-than-average chance of needing some level of rehabilitation. On the other hand, if a bank is selling the property, it’s a safe bet that any cloud on the title (a second or third mortgage or other creditor liens) has been dealt with. It can be the case that a bank comes into possession because of just that kind of problem—and any newly created “freed value” might be had by a new owner at a head-turning discount.

For Keen SW Florida Bargain Seekers, “Bank-Owned” Rates Study, Naples, Isles Of Capri! The paths to buying bank-owned SW Florida homes can require patience and an experienced hand at residential negotiations, so if you are considering going after one yourself, be sure to pick a real estate agent with the requisite background. That’s true in any house-hunting endeavor, of course—and a reason I hope you’ll give me a call!

Speed and Agility Creates SW Florida House Flipping Successes, Naples, Ft. Myers

Speed and Agility Creates SW Florida House Flipping Successes, Naples, Ft. Myers. Most SW Florida house flipping veterans can look back on their successful projects and place them in either of two columns. Either they were intended to be quick flips—turnarounds where speed was a prime ingredient because of an original tactical decision—or they were not.

The quick flips depend on speedy, focused action in three of the four phases a house flipping project entails. In the opening phase— lining up the capital—speed is not important. Of course, nothing else will materialize unless financing for the SW Florida property is obtainable when needed—but there is no timer ticking away. Once it is likely that funding will be obtainable, that’s when the clock starts.

Phase Two—finding, negotiating, and closing on a suitable property—is a real foot race. A quick flip only materializes after a suitable property has been identified. “Suitable” in this context means a home that can be made attractive in the SW Florida market without requiring extensive and time-consuming rehabilitation—cosmetically challenged, but not structurally unsound. If it is already on the market, it’s probable that the present owner’s circumstances make them disinclined to oversee any turnaround work themselves. The need for speed is apparent: since the current asking price has to be low enough to allow sufficient profit upon its resale, other interested parties will be interested once they get wind of the opportunity. This kind of qualified house at a sensible price is certain to find a ready buyer quickly.

During the next fix up phase, speed and agility is equally important. The work of repairing and renovating calls for fixing underlying mechanical issues, then making everything cosmetically inviting and immaculately clean. Time really IS money: not just the time a project takes, during which the investment capital can’t be allocated elsewhere—but also the house flipper’s time. It’s why many are themselves experienced contractors—and why most of the others have a deep contact list of those they can rely upon. When a turnaround effort drags on for month after month during which the project is consuming rather than producing, the bottom line suffers. A quick flip’s success can be measured by its final net profit divided by the number of weeks it took, purchase to sale.

The end phase of house flipping is the sale—which calls for expediency for the same reasons. If all else has proceeded as planned, speed here is likely for one simple reason. If the first three house flipping phases have been professionally executed, that means that a profitable sale can happen with an asking price that’s a touch beneath comparable SW Florida properties. Nothing assures speedy success more than that!

Speed and Agility Creates SW Florida House Flipping Successes, Naples, Ft. Myers. Quick flips are not the only kind of SW Florida house flipping, either. Some properties need a lot more tender (and time-consuming) care before they can be profitably returned to market. But for either kind of buying and selling, being able to rely on an experienced Town Realtor^® is a key asset. Whether your next real estate endeavor is in search of profit or simply a home that’s just right for your family, I hope to be answering your call! 

Reader’s Digest Has Lists for SW Florida Homeowners, Naples, Ft. Myers Estero

Reader’s Digest Has Lists for SW Florida Homeowners, Naples, Ft. Myers Estero. Some of  SW Florida’s senior residents will verify that The Reader’s Digest was once flat-out the most popular magazine in the country. I don’t know how far back that began, but at one point at least, it was the time-saving way Americans kept up with what was being published in the other magazines (there were lots of them). RD boiled lengthy articles down to a couple of pages.

TV is probably what spelled its decline. The internet almost finished the job—but the Digest is still going in various forms. When you come across it online, it never fails to show a whole lineup of almost irresistible Click Me sidebars. Last week, for instance, SW Florida homeowners might have been snared by “20 Secret Hiding Places for Valuables in Your Home” (if your home will host an open house anytime soon, that one would be fortuitous); “Prepare to Be Amazed By the Gorgeous Way This Woman Transformed Her Simple Camper Trailer” (although the flashy red-white-and-blue stripes on the camper shell might have been overkill); “13 Neat Ways Milk Can Help You Look Gorgeous And Clean Your House Too!”(sour milk can renew tarnished silver; powdered milk can erase fine cracks in china).

But the most relevant attention-grabber of all (for SW Florida homeowners, at least) would have been “10 Ways to Increase Home Value with Exterior Paint.” We all know that a fresh paint job will give any home a value boost—but what are the other 9 ways? Here’s a selection from the answer:

1. Color Correct for Value—which means “use eye-catching color schemes.” This was RD’s #1 way to increase value…but I’d have to caution that if a color scheme is a bit too eye-catching, it could accomplish the reverse…
2. Perception of Color is Very Relative—When choosing color schemes, remember that the colors need to viewed right next to each other to judge how they will actually appear to the eye.
3. Begin with the Value—The word “value” here means how dark or light the main color will be. Decide on it first, before trim colors.
4. Don’t Be Top-Heavy (SW Florida homeowners note: this was really the only one I thought could actually increase value)—Place darker colors below lighter shades to prevent a top-heavy look.
5. Choose Colors in the Right Light—view swatches in the same kind of light they’ll be seen in).
6. Play Up the Size (use light colors to enlarge a small house and dark colors to make a large house on a small lot look smaller).

I can’t really agree with #6; most SW Florida homeowners whose houses are set on small lots would still do well to have the home look as roomy as possible.

Reader’s Digest Has Lists for SW Florida Homeowners, Naples, Ft. Myers Estero. Following the original Readers Digest concept, this boils the 10 Ways down to 6. You really could shrink it all the way down to just #4—but since it would no longer be a list, that would be overdoing it. In fact, SW Florida homeowners who clicked on the sidebar for “13 Tips for Selling Your Home” might actually benefit most from #9—which was “Get Real About Pricing.” No matter how many of the Selling Tips you wound up taking seriously, though, I would have to add one more truly practical one: Call Me!

Knowing When You’ve Found the Right SW Florida REALTOR®

Knowing When You’ve Found the Right SW Florida REALTOR®. When you find yourself being drawn to the real estate listings, even only to peek, it’s a clue that something big may be on the horizon. Either you’ve begun to think you’ve begun to outgrow your current SW Florida home, or you’re just curious about what could be available in case you should decide to upsize, or downsize—or to move on because of a professional change that only just might be hanging there as a possibility…

The tip off is the twinge of curiosity about those other SW Florida homes—the ones that are out there on the market this summer. It’s always somewhat interesting to see what’s on the SW Florida market at any time, but if you find yourself visiting the listings more than every once in a while, it’s probably because you sense that you might find your own future somehow intertwined with one of them. Or that these could become the competition if you decide to put your own home on the market. If that particular twinge sounds like something you recognize, there’s a logical next (post-twinge) step: it’s finding a sympathetic Realtor^® to talk things over with.

If you already know and have come to trust one of our SW Florida Realtors, that’s a done deal. Call ‘em up! But if that’s not the case, what to do? Finding the right professional may not seem awfully important when you are in the earliest pre-planning stages—just looking to have a brief chat about what’s going on currently—but there’s another way to look at it. In case you do wind up making an important residential move, even if it doesn’t happen for a while, having been in touch with the right Realtor over an extended period can be a significant benefit when the time comes. Professional relationships strengthen over time, as individuals get to know each other and grow comfortable talking things over. That’s makes for the kind of team-building that’s a hallmark of success in any enterprise.

That being the case, what’s a short and direct way to distinguish a likely candidate for your SW Florida  Realtor? The right Realtor for you will of course be a strong salesperson—so any of us will be able to tell you about our skills, experience and accomplishments. The best will present those bona fides without seeming to brag—you just find out about them in the course of chatting.

The key to finding a Realtor who is most likely to help you accomplish your goals is to find someone who is genuinely interested in you—in your situation, your background, likes, dislikes…the works! The fact is, selling a home, or buying one, is a uniquely personal business transaction. It is not like buying an automobile, because no two residential properties are identical. Buying and selling a home is a life-altering event in which personal likes and dislikes must be taken into account. The right Realtor is one who won’t hesitate to take the time to understand who you are—and what are the set of expectations that are uniquely yours. That only happens when you find someone who is interested in more than selling a house. The right Realtor is one who’s thinking how to help you build the future you envision.

Knowing When You’ve Found the Right SW Florida REALTOR®. It’s one of the key reasons that being a Realtor is such a satisfying profession. Being able to help a family find the right SW Florida home and make it their own is immensely gratifying—as is shepherding a sale from preparation to closing. Of course, either only happens when I know as specifically as possible where my client’s best hopes reside…and that’s not just about listening—but also caring too!       

5 Preventable Reasons SW Florida Closings Might Stall, Naples, Ft. Myers, Marco Island

5 Preventable Reasons SW Florida Closings Might Stall, Naples, Ft. Myers, Marco Island. It’s a great feeling to assist clients on the great adventure of discovering and landing their new SW Florida home. The final part of the real estate sale comes with the closing, where the papers are executed and house keys handed over.

Virtually all of my SW Florida real estate sales proceed to closing without significant hitches. That’s not by accident: I’ve helped clear the path by methodically checking off every item on each sale’s unique ‘to do’ list. That checklist has evolved to include the various technical legal and financial items that need to be addressed before a change of ownership can happen. At closing, they’re all addressed.

But—as everyone with many closings to their credit will tell you—even well-laid plans can begin to unravel when the unexpected pops up. Apparently “closing nightmare” stories make for great internet fodder, because you can find scores of them online. Some are tall tales, but others are exactly what’s to be expected if care isn’t taken to head them off.

Here is a list of five of those kinds of closing predicaments. They reflect common missteps that can derail things when everything else is in order. Since most are easily preventable, they’re unlikely to occur at the last-minute if real estate professionals have been part of the picture from the start:

1. Agreed-upon repairs aren’t completed. This can happen for any number of reasons, but innocent or not, if the timetable for completion hasn’t been met, it can threaten to derail the real estate sale. This one doesn’t have to prevent closing. If everyone wants to proceed, the Realtors^® for the parties can work out an escrow arrangement with funds set aside to cover the shortfall.
2. The house can’t be sold. This rarer situation should have been identified before closing, but it’s possible that a mechanic’s or tax lien can show up late in the day. In cases where there has been a death in the family, it’s also possible that the heirs may mistakenly believe they will have a legal title to home in SW Florida before the probate process can be completed.
3. The home loan appraisal comes up short. Both buyer and seller may be in perfect agreement about the value of the SW Florida property— but if the chosen bank’s appraiser demurs, it may be back to Square One.
4. The buyer’s finances change. When a lender green-lights a loan based upon the buyer’s debt-to-income ratio, that’s considered a key qualifier. If the buyer changes that ratio by losing income or taking on new debt (or even paying off an existing debt!) it alters the ratio, which can trigger a new investigation, stall the loan—and waylay the closing.
5. Homeowner’s insurance falls through. It’s a bad idea to assume that every insurance company will grant required homeowner insurance. Since their binder or policy will be needed, better to take the extra moments to call to more than one agent.

5 Preventable Reasons SW Florida Closings Might Stall, Naples, Ft. Myers, Marco Island. The best SW Florida closings are no accident: they happen when all contingencies have been discussed and worked out well in advance. They start at the very beginning—hopefully, with a call to me!

Ironing Out the Wrinkles for SW Florida Short Sale Properties

Ironing Out the Wrinkles for SW Florida Short Sale Properties. Any dedicated bargain hunter who scours the SW Florida listings is not surprised to find among the most deeply discounted entries one of two notations: foreclosure or short sale.

Everyone knows what the “foreclosure” designation means—it’s been repossessed by the bank. It’s an REO (real estate owned). By discounting the asking price, the lending entity invites buyers to take the property off its books. It is here that the economists’ favorite acronym, “TANSTAAFL” (There Ain’t No Such Thing As A Free Lunch), comes into play. Foreclosed properties have frequently been neglected by their previous owners, who are not happy campers. So the cost of rehabilitation must be factored in before any offer is made. Still, foreclosures can represent real opportunities for buyers with patience and determination.

Slightly different are foreclosures’ first cousins: SW Florida’s short sale listings. There are any number of unforeseen circumstances that can cause an owner to fall into financial distress, but when their home has to be repossessed, the impact on the borrower’s credit is immediate and drastic. It can make finding a new place to live difficult, and can even make future employers hesitate to hire someone whose record includes that kind of hefty unpaid debt.

SW Florida properties which fall in the “short sale” category are those in which the borrower has been unable to keep up with the mortgage payments, but who is arranging for the lender to agree to accept a payoff that’s less than the full amount owed. When a short sale is finalized, the result is still some damage to the original borrower’s credit, but less than had a foreclosure proceeded. The buyer will benefit from what should be a substantially lower price than a comparable SW Florida  property would bring—and a home that is usually in better condition. An eager lender can also sometimes offer favorable financing terms, too.

But remembering what the economists say about TANSTAAFL, there are also these points to keep in mind:

• Short sales involve extra bureaucratic red tape. The fine print includes items such as the lender having to approve details of the sale—and that can result in nerve-racking delays.
• Although the owner is usually trying to keep a short sale property in good shape to facilitate the deal, banks won’t allow a short sale until the borrower has seriously fallen behind in payments. That can mean an inability to keep up with the expense of proper maintenance. As in a foreclosure, canny short sale buyers make certain they know the cost of rehabilitation.
• The possibility of sticky legal issues needs to be recognized. For instance, if the seller has filed for bankruptcy, it could squelch the whole deal. Negotiating a short sale can be considered a “collection activity”—and those aren’t allowed in most bankruptcy courts.

Ironing Out the Wrinkles for SW Florida Short Sale Properties. If one of SW Florida’s foreclosure or short sale-denoted listings has grabbed your attention, I can help. It will require attending to some technical issues attached to the specific property—but I’ll be pleased to help you navigate the process from beginning to end!  

New SW Florida Homes Vie with Existing Home Offerings

New SW Florida Homes Vie with Existing Home Offerings. Several different surveys confirm that if you ask American consumers which they prefer, close to twice as many say they would choose to move into a brand new home rather than an existing one. But—and there are several important ‘buts’—when it comes to today’s typical SW Florida house hunter, that answer can be a little misleading.

For one thing, house hunters who don’t even check out SW Florida’s pre-owned house listings are few and far between. In actuality, when someone begins to think seriously about buying their next home, it’s highly unlikely they will be able to resist taking at least a cursory look at the SW Florida listings. The previously-owned homes that are now for sale aren’t just easy to find—they’re manifestly hovering a single click away on every computer and mobile device. Given the current state of intelligent search engines—which seem to be watching us more closely than we are watching them—at the first inkling that we could be interested in finding a home, alluring SW Florida listing pictures start popping up onscreen all by themselves!

That makes a difference because even if the majority of buyers might lean toward buying a new home with brand new construction, as soon as they start seeing the variety of existing homes, most people find at least some that are interesting. And previously owned residences certainly do have some intrinsic advantages, with their established communities, tree-lined older neighborhoods, and frequently, more interesting architectural detail. It’s also true that many new homes in SW Florida tend to be built on smaller lots than the older ones—which touches on another central issue: the matter of cost.

Forbes claims that the acknowledged rule of thumb is that brand new homes often cost “up to 20% more than a similar existing home”—that is, one with the same number of rooms, square footage, acreage, etc. That having been said, there are the undeniable advantages that go with SW Florida’s new homes. They meet today’s construction standards and design preferences, often with walk-in closets, open floor plans, and expansive master baths. Who wouldn’t favor a new kitchen outfitted with energy-saving built-in appliances, sparkling new bathrooms, brand new flooring and carpeting?

For many, a new home that holds the promise of no visits from the repairman for at least a few years makes for a low-stress situation that’s worth the budget premium. And even that tradeoff can prove less costly than it might seem, given the prospect of reduced maintenance outlays for a number of years.

New SW Florida Homes Vie with Existing Home Offerings. Like so many other aspects of buying a home, the choice between one acquired from a previous owner or a new home winds up being strictly a matter of personal preference—and it’s also a fact that those can change in surprising ways once you get out and explore today’s offerings in person.  Best way to get started: call me!

Two Terms that Top SW Florida “House for Sale” To-Do Lists

Two Terms that Top SW Florida “House for Sale” To-Do Lists. You will find that most advice about preparing your SW Florida house for sale features a couple of indispensable terms: de-clutter, clean, and de-clutter. That’s not a typo: you can’t say ‘de-clutter’ often enough. It has to be emphasized that “clutter” doesn’t necessarily refer to shabby or threadbare items—it means literally everything that doesn’t advance the look and feel of a spacious, ready-to-move-into dwelling.

That’s why this specialized definition of “clutter” might include a good-looking leather ottoman that perfectly matches its recliner (but which leaves too little space for walking from the den into the kitchen) … or the wide-shaded authentic Tiffany standing lamp with the stunning dragonfly motif that doesn’t match anything else in the house…or the chest in the hall that holds all the winter stuff. Even if SW Florida’s winter hadn’t ended last Sunday, that chest and the winter gear ought to find a temporary home in a less obtrusive housing. 

In other words, when you have a house for sale in SW Florida, clearing away non-essentials to emphasize spaciousness is a high priority—even if it might mean sacrificing some degree of livability. Yes, you DO have to continue to live in your house, so the de-cluttering has to be within reason. Likewise, the cleaning.

Now; about the cleaning.

There is cleaning—the kind we do all the time—but then there is also “deep cleaning.” Like “de-cluttering,” “deep cleaning” is a real estate watchword invoked by everyone writing about preparing a house for sale. The phrase would seem to be clear, but it needs to be pointed out that professionals usually do a better job of it than we civilians can. They simply see dirt that normal householders don’t (and also somehow manage to get rid of it a lot quicker than we can).

The finer points of deep cleaning include being in possession of an assortment cleaning tools and substances that aren’t found in every closet. But in addition to those, it takes a dirt detective’s eye to recognize the many areas that are easily overlooked:

Light bulbs. Trash cans. Drawer organizers. Bed skirts. Dishwasher and washing machine seals. Undersides of cushions. Ceiling fan blades (all right; you probably knew they were dusty, but keep putting off figuring out how to get the vacuum up a stepladder to do anything about it). Beneath the range, beneath the refrigerator, behind the toilet…etc.

Two Terms that Top SW Florida “House for Sale” To-Do Lists. You get the best results when your SW Florida house for sale is presented in a way that invites prospective buyers to easily envision living there. Open spaces that are uncluttered and clean invite them to do just that. I’m here, too, to help with ideas and suggestions that will have proved to make the entire process as easy as possible. So why not give me a call?