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Hollywood Florida Real Estate, Hollywood FL Real Estate, Hollywood Beach Real Estate, Hollywood Beach Condos for sale, Hollywood Beach Short Sales, Hollywood Beach Foreclosures, Hollywood Beach Realtor, Hollywood Fl foreclosures, Susan Weaver, real estate agent
The 3 Real Estate Professionals You Should Know when Buying a House in Hollywood Florida, by Real Expert Sue Weaver
During the home buying process, itís important to get advice and expertise from experienced individuals. The three most important advisors youíll find during the home buying process are: An experienced real estate agent, your loan officer and your home inspector. In this article, weíll talk about about what each of these professionals can do for you.
Your Real Estate Agent
Your real estate agent is the single most important real estate professional youíll be working with throughout your home buying process. Your real estate agent is the person whoís responsible for finding properties you might be interested in, educating you on the buying process, and finally helping you negotiate a great deal on a property.
Choosing a good real estate agent is absolutely vital. The best real estate agents to work with are the agents that are experienced and have your best interest at heart.
Your Loan Officer
Your loan officer is the ìgo betweenî person between you and the lender. For example, your lender might be ìWashington Mutual,î and the loan officer is the person from Washington Mutual who deals directly with you about your loan.
Having a good loan officer is absolutely essential to the mortgage process. Your loan officer is the person whoíll make sure that your loan goes through. Your loan officer is also the person who will educate you on the different types of loans available and your mortgage options.
Loan officers are paid on commission. Itís important to have a loan officer who looks out for your best interest rather than a loan officer whoís trying to make the highest commissions.
Real Estate Inspector
Your real estate inspector is another important professional in the home buying process. The inspector is the person who will inspect your property and let you know if anything is wrong before you make your purchase.
Make sure you ask a lot of questions during the inspection process. Remember that youíre paying for a professional service, so make the most out of it. Ask questions, even if they seem stupid.
There is a lot of free information available to you about buying, selling or investing in Hollywood Florida real estate. For complete information about the Hollywood Florida real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Hollywood Florida real estate at www.SueWeaver.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at or email me at Sue@SueWeaver.com.
Making an Earnest Money Deposit in Hollywood Florida
When an offer is made on a house in Hollywood Florida, it's usually accompanied with a check.This check is what is known as an earnest money deposit, made to let the seller know that the buyer is earnest in his or her attempt to purchase the home.An earnest money deposit distinguishes serious buyers from those who aren't so sure about the purchase.
The deposit amount is different from one purchase to the next.Many factors can sway the amount of the deposit.In seller's markets, earnest money deposits are often larger than in buyer's markets.This is because properties tend to have more inquiries in seller's markets.Thus, it takes a little more to convince the seller to accept a certain offer.
In a steady or buyer's market, you shouldn't make an earnest money deposit in an amount that is greater than 2 percent of the offer price.Once you have reached an agreement with the seller, the earnest money deposit is placed into an escrow account where it will stay until closing.At this point, both you and the seller jointly control the money.Usually when the deal closes, the deposit is applied to your down payment and closing accounts.
What happens if the deal falls through for reason?This is where sellers and buyers often disagree.Sellers sometimes feel that buyers should forfeit the earnest money deposit and they should receive the money.On the other hand, buyers contend that it was their money in the first place and the earnest money deposit should be returned to them.
Before anything can be done with the funds, any cancellation fees that apply are taken directly from the earnest deposit.After that point, the buyer and the seller must come to an agreement on what should happen with the deposit.It really doesn't matter who's at fault for the deal going wrong, since the money is held in a third party escrow some sort of compromise must be reached before the funds will be released.
The escrow can only release the funds when one of two conditions have been met either both parties provide a written authorization or an order is issued from a court of law.Obviously it is less costly and time consuming for the two parties to reach an agreement.
In some states there is a statute of limitations on which the escrow can hold the money without receiving a release authorization from the buyers.After this time period has expired, the law requires, in most cases, that the deposit be returned to the buyer.
Real Estate Investing Expert Sue Weaver's Guide to Investing in Hollywood Florida Real Estate
Investing in Hollywood Florida can be a very profitable business for the wise investor. Unfortunately, you can also lose a lot of money in Hollywood Florida real estate if you don't know what you're doing. In this article, I'll go over several tips to help you ensure a profitable investing career in the Hollywood Florida real estate market.
Pick a Specialty
When you're going in to real estate investing, you'll likely find that there's an overwhelming amount of available information on all kinds of investing tactics.
Rather than specializing in being "a real estate investor," pick something more specific. Perhaps you'll specialize in small apartments. Perhaps you'll specialize in buying foreclosures. Perhaps you'll specialize in fixing houses.
Whatever the case may be, pick a specialty and learn everything you can about that tactic. You're much more likely to success that way.
Know Your Taxes
Taxes are often a big "gotcha" for investors. To start, it's important to learn as much about Hollywood Florida tax laws as you can. Have an accountant you can rely on and educate yourself in the various ways you can work with the tax laws to reduce your taxes.
Understand how taxes will impact your bottom line. Realize also that taxes change over the years. When you choose a property, it's important to choose a property that will be profitable even if the tax codes change.
Be Meticulous With Your Inspections
You should always meticulously inspect your properties before making a purchase. You shouldn't ever purchase a building before you've done a proper inspection.
Many investors simply inspect the property by hand. However, it's usually a good investment to have your property looked at by a professional before making your purchase.
Know Your Rent, Utilities and Maintenance Costs
Cashflow is something that you must be very careful with. If you're working with a thin margin, things like vacancies and unexpected maintenance can easily put you in the red zone.
It's important when you're calculating your investment to factor in vacancies and maintenance costs. A good way to determine this is by looking at the building's past history. If there isn't a good record or if there isn't a reliable history to go back on, another way to help determine these costs is by looking at the costs of similar units in your area.
Thinking of Buying a Home in Hollywood Florida? Heres Five First Time Buyer Mistakes and How to Avoid them.
Buying a home in Hollywood Florida for the first time is an exciting process.At the same time, it is one that is filled with steps and details.Deciding which home to purchase and which mortgage to borrow are decisions that have lasting consequences.As you embark upon your home buying excursion, keep in mind these common mistakes of first time home buyers.
Purchasing a home too fast.Perhaps it's the excitement of purchasing the first time.Or maybe it's a fear that the "perfect" home in Hollywood Florida will be purchased by another borrower.Whatever the reason, many first time home buyers make the mistake of rushing through the home purchasing process.They tend to spend too little time searching for the right home in Hollywood Florida.Often first time homebuyers end up dissatisfied with the home they've purchased.
Buying too much home.Another mistake made by first time home buyers is purchasing a home that's right at, or even a little beyond, their limits.Many times this leaves the new homeowner with little or no disposable income.What good is a large home if you are unable to furnish it?None at all.Purchasing a smaller home and leaving yourself some wiggle room is much better than eating up your monthly income with mortgage payment.
Holding out for the dream home.First time home buyers might pass up several houses they like because they believe that there is a better house out there for them - one that is complete with everything they want and need.In the meantime, houses that have most of the items they are looking for are being taken off the market by other buyers.If a significant period of time passes, market prices could go up and the first time home buyer ends up paying more for a home than expected.Even worse, the buyer ends up so worn out from house shopping that he, or she, ends up settling.
Not getting mortgage pre-approval.A pre-approval will do wonders for the first time home buyer's shopping experience.Being pre-approved for a mortgage gives you an idea of what you will be able to pay for a home.Some first time home buyers, not realizing the value, forgo pre-approval to get a head start on home shopping.What's the worst that could happen?You could find a home you absolutely love and fail to obtain financing for it.
Not comparing mortgages.Shopping around for a mortgage is just as important as shopping around for the home.Many first time home buyers do not realize that mortgages from different lenders have different costs and different terms.There are so many cost factors of a mortgage that can vary from one lender to the next.It only makes sense to shop around for the best deal.
Be informed of the steps that you must take and the decisions you must make as a first time home buyer in [Profilr.market].Information and education are the best tools to equip you in the process of purchasing your first home in [Profile,market].
There is a lot of free information available to you about buying, selling or investing in Hollywood Florida real estate. For complete information about the Hollywood Florida real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything www.SueWeaver.com" mce_href="www.SueWeaver.com">Hollywood Florida real estate.
8 Point Checklist to Closing on a Property in Hollywood Florida. How to make the process go smoothly, by Sue Weaver, Hollywood Florida Real Estate Expert
The closing process is the last step to purchasing or selling a home. The process can often be intimidating because of how much legal paperwork there is involved. In this article Iíll walk you through the process so that the closing process will go much smoother for you.
1) Homeownerís Insurance
Insurance is always necessary to get the mortgage. Remember to get homeownerís insurance and bring proof to closing.
2) Gather All Your Paperwork
Make sure you have all your paperwork in place the day before closing. Review all your paperwork to make sure that everything is in order.
3) Have Your Inspections Completed
Have the property inspections completed when you come to escrow. If there are any repairs that are necessary, make sure theyíre in writing.
4) Have Title Insurance
Itís important to get title insurance for your home purchase. Title insurance insures that the title on your property is clean.
5) Get Approval of Mortgage
At this point, your mortgage should be approved so that you can get your loan to pay for your new property.
6) Bring Your Cashierís Check
The amount necessary for closing the on the property should always be on a cashierís check.
7) Clear All Contingencies
At this point, all contingencies and clauses should be cleared so that you can go ahead with the transfer of the deed.
8) Understand Your Closing Costs
Before closing, itís important to have a good idea of what your closing costs are. Itís also important to know who will pay the closing costs. Unless otherwise stated, usually the buyer pays the closing costs.
Following these tips should make the whole closing process go much smoother for you. Remember to talk to your real estate agent and your loan officer about the closing process, as theyíve both been through the process many times.
There is a lot of free information available to you about buying, selling or investing in Hollywood Florida real estate. For complete information about the Hollywood Florida real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Hollywood Florida real estate at www.SueWeaver.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at or email me at Sue@SueWeaver.com.
Mortgages Defined: Information from Hollywood Florida Real Estate Professional Sue Weaver
Mortgages Defined: Information from Hollywood Florida Real Estate Professional Sue Weaver
Unless you are one of the approximately four percent of the nation's home buyers that pay cash, chances are you are going to need some kind of a mortgage. But before you start pulling credit and signing papers there are a few things that you should know, according to real estate expert Sue Weaver with Coral Shores Realty. Having a little info ahead of time can save you heartache- and money.
There are many different types of loans out there and the selection is changing all of the time. When you start the loan process you may want to consider sitting down with your bank and seeing what they can offer. If you have been a loyal customer they may give you special savings for giving them the opportunity.
Many people go online to shop for a mortgage. Although it is convenient to do so, it can be an aggravating situation. Online lenders typically work in another state which means you will be at the mercy of returned phone calls for answers. If they are in a different time zone then it creates a whole new set of problems. Plus, a broker in another state may not be completely familiar with the lending guidelines in FL.
In recent years, more than ever, your rating will be determined by your overall credit score. A high rating rewards you with better options from lenders. Make sure that you do not get in the habit of having your credit pulled repeatedly by different lenders while you shop. This could negatively affect your score.
Depending on how much you put down will determine which loans you qualify for. Financing more than 80 percent means you will have to pay for either mortgage insurance, the V.A., F.H.A. or another third party group. This is their way of insuring the loan against default. These are all good loans, but remember if you can afford to put more down you may be saving on that insurance each payment.
To get more tips on financing your home purchase, contact real estate expert Sue Weaver at today.
Budget your Money before you buy a Home in Hollywood Florida
If you are going to buy a new home Hollywood Florida there are so many details that you will have to sew on your end before you can even get started. One of the most important is your budget. If you do not have any clue as to how much money you have or how much you can afford, you are going to get yourself into a bad situation. The fact of the matter is that your budget has a lot to do with the type of home that you can afford, and also with how you will move forward in the process.
There are two distinct things that go into your budget. First and foremost, you need to look at how much money you make each month. If you work for a company and are used to getting a steady paycheck this is easy to do. But on the other side of things if you are self employed you may have to take a bit more time trying to figure this out. Just make sure that when you are looking at this that you write down accurate information. If you mess up this process you could end up in a bad situation.
Now that you know how much money you make each month, the next step is to consider your expenses. This includes everything from utilities to loans to money that you need for fun. When you know all of your expenses, you can then deduct that number from the money that you make each month. This will give you a very good idea as to how much money you have left over on a monthly basis. From there, you can probably guess at how much of a home inHollywood Florida you can afford.
As you can see, a budget is very important if you are going to be buying a new home. Not only will it help you to prepare for the buying process, but it will also help you once you have made a purchase. Take a few minutes and plan out an accurate budget that you can follow during the entire buying process, and let me Sue Weaver help you in your house buying decisions.
For further information feel free to contact me by calling my work number [Contact.work_phone] and we can get started on finding a home for you. I take great pride in helping people to get into a house that fits their budget. You can also visit me on the web at www.SueWeaver.com to learn how my knowledge of the Hollywood Florida market can work to get you the best home at the best price.
Baby-boomer boom - getting set to purchasing their second homes in Hollywood Florida
In the 1980s baby boomers didn't save money. Instead, they bought expensive items, such as luxury cars, and took extravagant long-distance vacations. But for the last decade, because of consumer satiation and the responsibilities of raising a family, these couples are starting to play it more carefully. They're investing--rather than just spending--their income. And one logical step, is to invest in a second home in Hollywood Florida.
Households that are headed by someone who's between the ages of 45 and 54 own the largest share of vacation homes (households that are headed by someone between the ages of 55 and 64 years of age own the second-largest share). This suggests that the baby-boom generation is just entering the prime years for ownership.
Nationwide, 22.8 million households that don't own recreational property say that there's some likelihood they'll purchase such property in the next 10 years, and 13.5 million of those households indicate that there's "a 50-50 chance or better" that they'll buy recreational property in the 1990s.
The recession in 1973 and 1974 was a harbinger of the upsurge in the primary house market during the late 1970s. That was the result of baby boomers going from one life stage to another, buying their first home. The recession of 1982 and 1983 preceded the surge in demand for upscale housing in the late 1980s, as baby boomers traded up.
When the boom hits, market within 100 miles or so of a major urban area such as Hollywood Florida are likely to be the biggest beneficiaries. Middle-aged baby boomers with children aren't interested in long trips anymore, even when the trips are taken in Volvo station wagons and BMWs.
Many of the baby boomers are buying second homes in anticipation of retirement. Some of them are financing their second homes by borrowing against or cashing in securities and taking out five-year balloon mortgages. Such buyers plan to sell their principal homes someday and use the proceeds to pay off the mortgages on their country homes--thus retiring without debt. This type of money management is likely to have a large appeal in these uncertain economic times.
Now is definitely the time to buy. So, you can still beat the crowds into the second-home market--before the baby boomers' boom hits.
There is a lot of free information available to you about buying, selling or investing in Hollywood Florida real estate. For complete information about the Hollywood Florida real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Hollywood Florida real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer you queries. Call me on my cell at or email me at Sue@SueWeaver.com.
Things To Do After Closing: A Checklist From Real Estate Expert Sue Weaver
Things To Do After Closing: A Checklist From Real Estate Expert Sue Weaver
When you walk out of the closing as a new Hollywood Florida homeowner, a flood of emotions is running through you. Your main concern is making sure that you do everything to protect your new investment. So how do you do that?
The first thing you will want to consider is changing the door locks. Even if it is a new home you won't have any idea who may have a key. It is best to make the home secure and have them all changed at the same time. You can even have all of the locks keyed to one master key for convenience.
The mountains of papers that you received at closing are extremely important. Make sure that you keep them in a safe place where you can put your hands on if they are needed. Countless times there is a document issue that needs resolving or a question that requires answering. Putting your hands on them easily may avoid headaches down the road.
About two to three weeks after closing contact the county records office to confirm that the title has indeed been recorded. Sometimes, depending on their workload, it may take longer. Regardless, keep in touch until you have verification.
Make sure that you have verified having the utilities worked out. If you are purchasing from someone it is best to have them transferred instead of disconnected and reconnected. This will avoid a delay in service. Some companies will even waive the connection fee if they do not have to send someone out to the home twice. Builders can even make this arrangement if you let them know before closing.
It is highly recommended that you chronicle your possessions after you have moved in. The best way to do this is to videotape everything in the home as well as the home itself. This will serve as an invaluable tool in the unfortunate event that something happens. Your memory will never be able to take the place of live footage and you will encounter less resistance from your insurance company if you have to prove something was present. Also, make a detailed written list, too. Keep a copy of both in at least one location outside of the home, such as a safety deposit box.
For more tips on having a smooth closing, contact Hollywood Florida real estate expert Sue Weaver with Coral Shores Realty at .
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How to Use a Hollywood Florida Home Inspector Report
So you have decided to hire a Hollywood Florida home inspector to examine your potential home. Smart decision. And you have also gone through the walk-through with him, asking him all the necessary questions, and making your own notes of what should or shouldn’t be replaced or repaired. Now, you’re just waiting for his written report to arrive shortly. And when you get it, now what?
A Hollywood Florida home inspector’s report is a long document that a summary of every observation that he made. It can be intimidating, if not overwhelming, especially if you’re worried about whatever repair costs you might have to consider after the Hollywood Florida home inspector lists them down.
But you don’t need to be alarmed. This is just another reason why you must be present during the inspection. You see, it is one thing to hear about various small problems while you are walking around the property with the Hollywood Florida home inspector. As your Hollywood Florida home inspector gives you all the run-down of what the problem areas are and other safety issues, the real context might probably be modified with reassurances that “this is just a maintenance issue” or “it would be good to fix when you get around to it.” You feel relieved when you hear these words, and you should be, because they are designed to make you feel exactly that way.
However, the situation can be entirely different once you read a long list of problems that would make your home less like a dream home and more like a dump. How on earth are you ever going to pay for all this?
Relax. Don’t panic. After you read your Hollywood Florida home inspector’s report for the first time, take a deep breath and drink if you must. Then, sit down and read it again, this time with a pen and paper at hand.
Okay, now take it one step at a time. Look at each “problem” item on the Hollywood Florida home inspector’s report first, then ask yourself the following questions:
Is this a minor maintenance problem or a major repair? Is this an issue related to the age of the house? Because if it is, then it might just be part of the “charm” of the home, especially if your house is an old one. You might include floors that slope a bit from settlement or door and windows that are slightly out of plumb on the list of your home’s old charm. Is this a problem that must be dealt with immediately? Or is it just something that should be done eventually? Give what you know about house prices in your locality, might this problem have already been taken into consideration in pricing the house? Does this problem merit further investigation? Are you wiling to walk away from the house because of any or all of these problems?
If you find any minor items in your Hollywood Florida home inspector’s report, suck it up and forget about it. You should know by now that no house is perfect. It is enough that you take care of the really bad ones, or walk away when the cost is just too steep.
There is a lot of free information available to you about buying, selling or investing in Hollywood Florida real estate. For complete information about the Hollywood Florida real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Hollywood Florida real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer your queries. Call me on my cell at or email me at Sue@SueWeaver.com.
Hollywood Florida Real Estate, Hollywood FL Real Estate, Hollywood Beach Real Estate, Hollywood Beach Condos for sale, Hollywood Beach Short Sales, Hollywood Beach Foreclosures, Hollywood Beach Realtor, Hollywood Fl foreclosures, Susan Weaver, real estate agent
Get the Best Deal for a Property in Hollywood Florida by Using These 4 Powerful Negotiation Tactics, by Sue Weaver, expert in Hollywood Florida Real Estate
Good negotiation skills can make the difference between a successful deal and an unsuccessful deal. It can be the difference between getting a bargain and being ripped off. Here are some negotiation tips for getting the best deal on a property in Hollywood Florida.
Tip #1 - Position Yourself as the Chooser
It's been said that whoever cares about the result less in a negotiation is likely to come out on top.
If you're making an offer, the more it seems like you could take it or leave it, the more likely the seller is to acquiesce to your terms. The reverse is true as well.
Tip #2 - Have Reasons to Back Up Your Offer
If you make a low offer on a property, back it up with reasons.
Let's take an example of a property that's worth $100,000 and you wanted to offer $80,000. Which example is more compelling?
Ex #1 - "I'll offer $80,000 for the property because the plumbing is 20 years old and will need repairs soon, the vacancy rate is high compared to nearby buildings and because the building is in violation of a couple building codes."
Ex #2 - "My offer is $80,000."
Giving the seller reasons for your number legitimizes your offer.
Tip #3 - Offer an Exact Number.
If you pick a number like $177,551 the seller is much less likely to want to argue than if you picked $180,000.
If you pick an exact figure for your offer, the subconscious psychology is that there's a reason you picked that figure.
Tip #4 - Flattery Gets You Everywhere
The reality is that people enjoy dealing with people that make them feel good. In the end, they're more likely to give you a better deal if the negotiation experience is a positive one than a negative one.
Remember that you're on the same side. The seller wants to sell and you want to buy. Work together to create a win-win deal rather than try to "beat" the seller.
These four tips will get you a long way in getting a great deal for your property.
There is a lot of free information available to you about buying, selling or investing in Hollywood Florida real estate. For complete information about the Hollywood Florida real estate market including current properties for sale, property values and more please visit the most complete website online dedicated to everything Hollywood Florida real estate at www.SueWeaver.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at or email me at Sue@SueWeaver.com.
Hollywood Florida Real Estate, Hollywood FL Real Estate, Hollywood Beach Real Estate, Hollywood Beach Condos for sale, Hollywood Beach Short Sales, Hollywood Beach Foreclosures, Hollywood Beach Realtor, Hollywood Fl foreclosures, Susan Weaver, real estate agent
Tips for Making an Offer on a Hollywood Florida Home- Noted Real Estate Professional Sue Weaver Spills the Beans and Reveals the Secrets That Agents Know
Tips for Making an Offer on a Hollywood Florida Home- Noted Real Estate Professional Sue Weaver Spills the Beans and Reveals the Secrets That Agents Know
When you have found your dream home in Hollywood Florida, you've just started the process.Now, you have to convince the seller to sell to you versus everyone else who is looking.Knowing what to ask for and how to say it is especially crucial.
Since an oral agreement is legal, but not enforceable in buying a home, you have to have everything in writing.This is an essential role for a Hollywood Florida real estate agent.Their expertise and experience will come in handy to know what to look out for. Remember that your agent is in the field everyday and knows what most sellers are thinking.
The FL purchase agreement will have to be written on forms recognized by the state.Since these forms are updated on a regular basis, a Hollywood Florida real estate agent will have them at their disposal along with the knowledge on how to properly fill them out.This is important in that a wrong entry could cost your money- or the house.
Your offer will contain many items such as the price, closing costs paid by either or both sides, closing date and when you will be able to take possession.If there are any issues from an inspection, this is the time to ask for the repairs.You will also determine how much earnest money to pay and which agency will hold it.You will want to put a time limit on your offer and any contingencies that may be available to you, such as a due diligence period.
Another part of the FL contract may include your loan information and the lender that you are using.The seller will want to know so they can determine if you are qualified to buy.Your personal information will not come into play- just the basics to aid in their decision.
If termite letters or anything else related to getting your mortgage is necessary, it will be spelled out in the contract as well.This is because some loans have special requirements in order to close.When properly filled out, the contract will have your best interests covered and still get you a good deal on your home.
To make sure your needs are protected in the real estate transaction, visit my site at www.SueWeaver.com to get free information about Hollywood Florida real estate. You can also call me directly at anytime!
Hollywood Florida Real Estate, Hollywood FL Real Estate, Hollywood Beach Real Estate, Hollywood Beach Condos for sale, Hollywood Beach Short Sales, Hollywood Beach Foreclosures, Hollywood Beach Realtor, Hollywood Fl foreclosures, Susan Weaver, real estate agent
If you've long dreamt of owning a beach house, country cottage or other second home to while away your leisure time, stop dreaming. With family incomes up, mortgage rates down and resort-real-estate prices depressed because of worries about possible changes in the tax treatment of vacation get-aways, this may be the best time in years to hang out that "Home Sweet Second Home" sign on your new vacation home in Hollywood Florida.
Contrary to the popular image of a second home in Hollywood Florida as a luxury that only the rich can afford, a weekend or vacation retreat in the U.S. is within financial reach of many middle-class families. There are about 8.2 million second-home owners in this country, the National Association of Home Builders reports. According to a study by the Scott Company, a Kiawah Island, S.C., management consultant, the average value of all types of second homes nationwide is $125,500.
A lot of credit for the current buyer's market in second homes -- inadvertent though it might be -- goes to the Bush administration and its drive to simplify the tax code. Prices in many resort areas fell 10 to 20 percent after the White House proposed a limit on the deduction for mortgage interest paid on second dwellings. While there is no such cap in the only tax-reform bill approved thus far -- the one passed by the House of Representatives -- most resort prices have not recovered fully. Falling energy costs and the reappearance of single-digit mortgage rates have further widened the window of opportunity for buyers.
Also, the weaker dollar and the fear of terrorist attacks are deterring Americans from traveling abroad, making the purchase of a vacation home a more appealing option.
Location, always a key factor in the way real estate is priced, can count for even more when it comes to vacation homes in Hollywood Florida.
Experts say that the soundest investments in second homes are in Hollywood Florida where the supply of housing is limited. New golf courses and lagoons will always ready to be created. Anything that's near something man-made has a lesser potential for appreciation than anything that is close to a God-given feature.
Access to recreational facilities is another consideration in how resort homes are priced. Many developments are jammed with extras such as golf courses, tennis courts, swimming pools, hot tubs and health clubs.
Shopping for a vacation home in Hollywood Florida in many ways is no different from buying a principal residence. In either case, it's important to check the reputation of the builder and to price comparable homes. If you're buying a condominium, it's crucial to scrutinize the condo association's operating budget. There should be funds set aside for capital repairs, for instance. Some condo owners may scrimp on improvements, figuring they will have unloaded their units before a structural problem -- say a leaky roof -- becomes evident.
Since access to recreation rather than shelter is the main reason that many people buy vacation homes, keep in mind that factors such as the size of bedrooms may not be as important as they are in your primary residence.
Be sure to examine construction for both its quality and its suitability to the site. Ocean homes should be built of wood. They will weather beach conditions much better than brick houses.
Find out the zoning regulations in the area of your prospective second home. If you are buying a retreat for its bucolic setting, you don't want someone building a megamall or a 40-story office building nearby. Also, if you want to renovate or expand someday, you don't want to be limited by onerous restrictions.
In the end, the kind of vacation home and setting in Hollywood Florida you want will be limited by what you can afford. But if the experts are right, the current combination of choice and price may not recur for quite a long time.
There is a lot of free information available to you about buying, selling or investing in Hollywood Florida real estate. For complete information about the Hollywood Florida real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Hollywood Florida real estate. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer you queries. Call me on my cell at or email me at Sue@SueWeaver.com.
Hollywood Florida Real Estate, Hollywood FL Real Estate, Hollywood Beach Real Estate, Hollywood Beach Condos for sale, Hollywood Beach Short Sales, Hollywood Beach Foreclosures, Hollywood Beach Realtor, Hollywood Fl foreclosures, Susan Weaver, real estate agent
Are You Ready To Sell Your Home? Hollywood Florida Real Estate Professional Sue Weaver Gives Advice
Are You Ready To Sell Your Home? Hollywood Florida Real Estate Professional Sue Weaver Gives Advice
When it's time to sell your [Profile.profile] home you want to make sure that everything is taken care of that may cause a problem during the process.Here is a list of the inexpensive things you can do to help make your home more appealing to buyers without breaking the bank.
Curb appeal: this is a crucial area because you have to give buyers a reason to get out of their car and see your home instead of every other Hollywood Florida seller.The most important thing you can do here is keep the grass cut, tree limbs pruned and bushes trimmed.First impressions, as with people, are important.
Mailbox:believe it or not this is an important, yet often overlooked area.If your mailbox is on its last leg take the time to paint it or, if needed, replace it.It can take away from the whole look of the home's front.
Plant some flowers:this does wonders for curb appeal.A few annuals and even some colored mulch enhances the front and attracts the eye of buyers.
Paine the front door:if your door is older and especially if it's wooden then a fresh coat of paint will bring it back to life.If it is stained then take a few hours and revive it with a little sanding and a new coat of stain.It shows buyers that you take pride in your home's appearance.
De-clutter inside:you want buyers to see the size of your rooms and not how many boxes haven't made it to storage.Buyers are sizing rooms to see how their furniture will fit.Don't take away from it with clutter.
Control pets:if you have animals make arrangements to keep them in their kennel while you are away.Your chihuahua may be cute, but to someone scared of dogs it might as well be Cujo on steroids.And don't lock them up in a room in the home.It not only keeps that room from being seen but it causes a lot of annoying noise while buyers are in the home.
Hollywood Florida real estate agent Sue Weaver would love to answer all of your home selling questions. Just call or visit www.SueWeaver.com to get your questions answered.
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Tips for Investing in Rental Properties in the Hollywood Florida area by Investing Expert Sue Weaver
Investing in rental properties can be a lucrative opportunity in Hollywood Florida. In this article, we'll go over several tips to ensure you choose the properties that'll result in the best returns on your investment. After reading this article, you'll know some of the more common pitfalls to avoid with properties in Hollywood Florida, as well as the signs to look for in a great investment property.
Tip #1 - Look at Surrounding Properties
If you're buying your property to rent out, one of the most important steps you could take is to look at the rent market in the surrounding area.
What are units like yours renting for right now? Take 3-5 units that are similar to the unit you're considering your investment and average them out.
Would the income from this property be enough to cover your expenses?
Tip #2 - Be Conservative
Be very conservative when you're calculating your numbers. It's far better to overestimate your numbers and accidentally make more money than it is to underestimate your numbers and find yourself draining cash.
Remember to account for vacancies and maintenance costs. These costs don't accrue all at once, but when they do come they can be large expenses.
Tip #3 - Check Your Rental History
How has your unit(s) been renting out over the past years? How strong is the rental history?
If in the past the unit(s) has been consistently rented out with few vacancies, that's a good sign that the unit(s) aren't difficult to rent out. If the opposite is true, that should be a red flag to take into consideration.
Tip #4 - Take the Low Hanging Fruit
Properties in Hollywood Florida often have what I call "low hanging fruit" opportunities. These are improvements you can make to your unit that will immediately improve its sale value or rental value.
Some of the more obvious ones include steam cleaning the carpets, painting the walls, making necessary repairs, having tiles cleaned and so on.
The key is to tackle the repairs that will give you the highest return for the least amount of work. The idea is not to repair every little thing, especially if it won't give you a positive ROI.
There is a lot of free information available to you about investing in Hollywood Florida real estate. For complete information about investing in Hollywood Florida real estate, including current potential investments, property values and more please visit the most complete website online dedicated to everything Hollywood Florida real estate at www.SueWeaver.com. Please feel free to contact me with any of your real estate or investing related questions and I will be more than glad to answer your questions. Call me on my cell at or email me at Sue@SueWeaver.com.
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Things To Do After Closing: A Checklist From Real Estate Expert Sue Weaver
Things To Do After Closing: A Checklist From Real Estate Expert Sue Weaver
When you walk out of the closing as a new Hollywood Florida homeowner, a flood of emotions is running through you. Your main concern is making sure that you do everything to protect your new investment. So how do you do that?
The first thing you will want to consider is changing the door locks. Even if it is a new home you won't have any idea who may have a key. It is best to make the home secure and have them all changed at the same time. You can even have all of the locks keyed to one master key for convenience.
The mountains of papers that you received at closing are extremely important. Make sure that you keep them in a safe place where you can put your hands on if they are needed. Countless times there is a document issue that needs resolving or a question that requires answering. Putting your hands on them easily may avoid headaches down the road.
About two to three weeks after closing contact the county records office to confirm that the title has indeed been recorded. Sometimes, depending on their workload, it may take longer. Regardless, keep in touch until you have verification.
Make sure that you have verified having the utilities worked out. If you are purchasing from someone it is best to have them transferred instead of disconnected and reconnected. This will avoid a delay in service. Some companies will even waive the connection fee if they do not have to send someone out to the home twice. Builders can even make this arrangement if you let them know before closing.
It is highly recommended that you chronicle your possessions after you have moved in. The best way to do this is to videotape everything in the home as well as the home itself. This will serve as an invaluable tool in the unfortunate event that something happens. Your memory will never be able to take the place of live footage and you will encounter less resistance from your insurance company if you have to prove something was present. Also, make a detailed written list, too. Keep a copy of both in at least one location outside of the home, such as a safety deposit box.
For more tips on having a smooth closing, contact Hollywood Florida real estate expert Sue Weaver with Coral Shores Realty at .
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