Whether you are buying your first home, your forever home or an investment property, there are many things to consider before you make your real estate deal. While anyone can shop for a home from virtually anywhere today, working with a qualified Realtor® will not only help you navigate the sometimes tricky waters of the transaction, but will also save you time by using their market knowledge to expertly match you with the perfect property. Savvy negotiators by nature, your agent will work to get the best results for your investment dollars.
While the first step in the buying process should always be to take a sincere look at your financials to understand what you can afford and how that fits with your real estate goals, understanding the market is equally important. You’ve no doubt heard the expression ‘timing is everything’ and that could not be truer when it comes to real estate.
Understanding the difference between a buyer’s market – where there are more homes for sale than buyers – and a seller’s market – where the opposite is true – is the first step to understanding how far your money will go. While conditions for buyers are optimal in a buyer’s market, it is still possible to find the perfect property in seller’s market conditions and your Realtor® will have the expertise to guide you through the search, negotiation and closing process with the most ease, tackling challenges with you and keeping you in-the-know throughout. Did you know there is a home buying season? Typically running from early spring through summer, home buying season sees more than 40% of annual home purchases. Reasons for this phenomenon vary but the holidays and ease of moving during the summer months (before a new school year begins) may play a factor. In markets like South Florida, due to the year-round beautiful weather, there may not be a clear buying season so having the expertise of a real estate professional is essential to timing a sale or purchase.
And while timing is everything, preparation is key. Lining up financing, which means being fully approved, giving the seller a reason to choose your offer over that of another and even being prepared to walk away from a deal if it is not the best opportunity will give you an advantage in today’s fast-paced market. With a knowledgeable Realtor® by your side, you will be poised for success in any market.
For those that didn’t get the prospect to weigh in on the large Magic City Innovation District arrange for small Haiti, 2 government building conferences are going to be command between currently and also the finish of Gregorian calendar month.
This additional community stretch is needed of the developers, associate degreed a part of conditions enclosed in an initial approval of many sectionalization and land use requests of MCD Miami LLC and its affiliate co-applicants.
At a gathering that began March twenty eight and carried over into the following morning, Miami town commissioners voted four to zero to approve the requests once a primary reading. Commissioner Joe Carollo was absent once the vote was finally taken well past time of day.
The project is way from set in concrete, because the sectionalization and land use changes need a second and final reading and vote, tentatively set for Gregorian calendar month twenty seven.
Commissioner Keon Hardemon represents District five and small Haiti.
It was Mr. Hardemon World Health Organization helped negociate further perks from the developer to enhance the neighborhood, as well as a commitment to pay to $31 million – over time – in community profit greenbacks into a brand new very little Haiti resurgence Trust.
The commission additionally granted initial approval to legislation making the new trust.
The mixed-use project would remodel concerning thirty seven connected parcels in very little Haiti into a serious development. The project is planned for concerning seventeen.75 acres at 6001 NE Second Ave., and therefore the development team guarantees major investment and new employment opportunities for small Haiti and encompassing neighborhoods.
MCD Miami LLC and its affiliate co-applicants are posing for approval of a Special space set up (SAP) and a development agreement they are saying can bring thousands of residential units, edifice rooms, commercial-retail and workplace uses to the positioning.
The Miami twenty one segmentation code says the aim of a SAP is to permit nine connected acres or additional to be master planned to allow bigger integration of public enhancements and infrastructure, and “greater flexibility thus on end in higher or specialised quality building and Streetscape style.”
One of the resolutions says: “…the SAP consists of a phased project which incorporates a most of roughly two,630 residential habitation units and eight,164,140 sq. feet of total development floor heap quantitative relation (“FLR”) of that 370,000 sq. feet of FLR might solely be used for parking; the SAP shall contain a minimum of a hundred sixty five,528 sq. feet of public open space; the SAP can modify the underlying transect zone laws that are applicable to the topic parcels and wherever a regulation isn’t specifically changed by the SAP, the laws and restrictions of the Miami twenty one code can apply.”
The Magic City proposal has been polemic, and spawned various marathon conferences wherever sides are taken.
Supporters say the project can bring much-needed employment and economic information to the world. Opponents worry it’ll fuel restoration and forever amendment the character of very little Haiti.
Read the Original Article Here: Town Meetings Set On Magic City Innovation District
For the past couple of years, historically low housing inventory has been driving up competition (and prices) for real estate in markets all across the country. But it seems like 2019 is going to see that (finally!) begin to shift. While gains are expected to be moderate, housing inventory is at minimum going to be trending in the right direction in the upcoming year.
According to Realtor.com’s 2019 Housing Forecast, national housing inventory increases are projected to stay right below 7% for 2019 (which is in direct contrast to last winter when housing inventory hit the lowest level in recorded history). A few types of properties will see more growth than others—while entry-level buyers will see only slight changes in housing inventory, higher-priced properties (and higher-priced markets) should see a more noticeable change in available inventory in the upcoming year.
If you’ve been having thoughts about buying a home but haven’t been able to find a property in this highly competitive market, it seems like things are finally starting to change in your favor—and (hopefully!) finding a home in 2019 is about to get a lot easier.
Read the Original Article Here: Modest Inventory Growth Expected In 2019—Good News For Buyers
When you’re hoping to purchase a home, you may ponder, “Does it make a difference if the property is listed with a Realtor® or the proprietors who are endeavoring to offer it themselves?” Um, yes. It is important. A great deal. In all actuality: When it comes to marking contracts, giving over escrow cash, and diving into the home’s history, going at it alone can finish up costing homebuyers a lot of money.
Coming up next are 6 motivations to evade a For Sale By Owner (FSBO) home.
Unfortunately, scams are plentiful and the real estate industry isn’t immune. If you don’t have an agent looking out for your best interests, it’s easy to be scammed. For example, would you know what a proper sales contract looks like if real estate is not your field of mastery? Depending on the state in which you reside, there are a number of legal forms that must be completed. In addition to a contract, property disclosures, occupancy agreements, and lead paint records are just a few documents that must be signed. Because sellers aren’t bound by a code of ethics as Realtors® are, there’s no way to be certain they won’t try to take an unsuspecting buyer for all he or she is worth. No would-be buyer should suffer sleepless nights wondering where that escrow money ended up.
2. Full disclosure
Obviously, when you’re making a significant investment you want access to as much information as possible. Real estate agents have the ability to get you the answers you need. Whether it’s about repairs made to the home or liens against the property, the more you can find out, the better off you’ll be when it comes to negotiating. Plus, no one likes an unpleasant surprise. Remember: Knowledge is power. On your own, would you know what to ask a seller? And, more to the point, would you know if a seller is hiding key information? It’s a risk better off not taking.
3. Are you a skilled negotiator?
In the course of doing business, you’ll probably have to go back and forth quite a bit — and not just about the price. What if repairs need to be made? Are you ready to haggle over who takes care of a leak or a structural issue? What if you can’t agree on a closing date? When you have an agent, he or she will handle all that for you.
4. Is money an issue?
The main reason sellers choose to sell their homes themselves is to save money by not having to pay an agent’s commission. So what happens if your seller is strapped for cash but problems pop up during a home inspection and they can’t afford to fix them? This, in turn, raises a red flag as you start to wonder if they took the cheap way out when making important home repairs.
5. Are you ready to deal with the homeowner all the time?
When it comes to arranging the home inspection or any other viewings of the house, your agent can serve as your go-between so you don’t have to contact the homeowner repeatedly. Unless you’re completely comfortable making all those appointments yourself, you should probably have someone representing your best interests.
6. What’s the Time frame?
When a seller hires an agent, you know they’re serious about making a deal. With a FSBO, are you sure the sellers are really going to get moving? Some may have put the home on the market just to see what offers it could attract. If you’re an interested buyer, you need to know that the seller is just as eager to make a move; otherwise you’re wasting your time and getting your hopes up for nothing.
Of course, there are reputable sellers out there, but when it comes to making one of the largest investments of your life, you don’t want to take any chances. Having a real estate agent working on your behalf at every stage of the transaction can offer peace of mind and end up saving you money and countless headaches.
Read the Original Article Here: 6 Reasons You Should Avoid Buying A For Sale By Owner (FSBO) Home
Sometimes homeowners omit the permit process when remodeling their home. They may think that the process is very expensive or takes to long. Fees for the permit process can sometimes be as costly as hundreds of dollars or more. There are homeowners that believe if they go through with remodeling a kitchen or bath without a permit, they might never get caught.
But these homeowners don’t think about the consequences of not going through the permit process when remodeling their home. Failing to get a permit could cause a lot of trouble when they go to sell the home.
Most states require homeowners to provide a disclosure statement to the buyer when they go to sell their home. In that questionnaire, sellers are mostly asked if they have completed work to the home without going through the permit process. Lying about it can worsen the situation—the sellers could later be sued by the new homeowner for making false statements.
“You can personally become liable for work carried out without permits,” writes Bill Gassett, a real estate professional with RE/MAX, REALTORS® in New England, for RISMedia’s Housecall. “Maybe the finished basement built by the previous homeowner with the fancy kitchen that sold the home has to be ripped out, or you’ll have to pay a penalty.”
Also, if there’s any incident that was caused by not having permits, the homeowner may face a rejection of their insurance claim. If their insurance company finds they didn’t have permit required, then they could deny the claim. Many of these denied insurance claims arise from incidents that involve remodeling projects that involve electricity, gas, or water that were done without having gone through the permit process.
Read the Original Article Here: Be Cautious About Renos Without Permits