Treasure Coast Real Estate Blog

Your local news and information source for homes and investment real estate along South Florida's Treasure Coast

Sunday, March 27, 2016

Real Estate Tips and Topics: Top Home Buying Hazards

Buyers Beware of these Home Buying Hazards


When you finally find your dream home, the worst thing that can happen is the deal falling through at the last minute. It’s more common than you might think, and the reasons are often surprisingly small. Fortunately, a little attention to detail and thorough planning can save you from the heartbreak of a buy gone bad. Here are some pitfalls for buyers:


1. Last-minute shopping sprees. Until your home loan has been funded, big purchases are flat out dangerous to closing the deal. Your credit matters and so does your bank balance. Every time they take a hit (say for new furniture, appliances, or even a big pickup truck for moving day), you risk skewing your financial picture in a foul direction. Lay off the buying until you’re in the clear.

2. Not drilling down deep on seller disclosures. Nobody likes surprises, so ask all the questions you have about condition issues in the home or on the lot. Sellers must disclose, so you’re well within your rights to ask after anything which seems unreasonably unexplained. Finding out late can sour the deal or stick you with costly repairs post-closing.

3. Failing to clarify which “fixtures” are included with the house. Fixture can be one of those words open to interpretation. Get clarity on what is an appliance, what is a part of the home, and what remains the seller’s personal property. An early understanding of what’s excluded will prevent sour feelings later on.

4. Not securing a preliminary title report ASAP. Great surprises lurk in the title search, so you’ll want to know in advance if there’s anything which might complicate the deal. You never know when someone might have an interest in the property (like an ex-husband), and you can’t be 100% sure about the property boundaries until you’ve defined them, can you? A misplaced fence or disputed driveway can foul things up in a hurry.

5. Insurance surprises. Is the home in a flood plain? Will your rates be through the roof for hurricane or earthquake risks? It’s worth investigating early on in the process. You may still decide to buy the home, but you’ll at least be able to budget accordingly.


I like to help buyers navigate the home buying process smoothly, armed with all of the knowledge they need in order to find the right home at the right price. Let me guide you to a smooth closing this year!


This post has been authored by Eric Slifkin, REALTOR® serving South Florida’s Treasure Coast. You can reach me at 888-288-1765, or visit my Web site. As your resource for information on new or resale homes throughout the Treasure Coast, please be sure to contact me about any home you may find on the Web, yard sign or ad and I will research the property, arrange showings and handle all the details. 


Monday, March 14, 2016

Winning Home Buying Tips from Industry Insiders


Thinking about buying a home? Since it’s likely the single biggest investment you will ever make, being prepared will help you make a smarter purchase decision. Don’t make an offer until you read and understand these real estate insider tips.  Download PDF

Know your buying power

What is buying power? It is the combination of how much you can realistically pay for a home and your credit-worthiness. You’ll need money saved for the down payment  -- which is typically between 10% - 20% of the price -- as well as cash for closing costs, such as transfer tax, PMI, title insurance, and legal fees. For ongoing mortgage and maintenance, your monthly obligation shouldn’t be more than 36% of your monthly gross income.

A good credit score is usually 720 or above. A loan professional can help you figure out your buying power and give you a clearer idea of if your score is in the ‘good’ range. Have them check your score for you so that you don’t inadvertently lower your score by checking it yourself. You want to clean up your credit as soon as you can, and definitely before you get a mortgage pre-approval.


Don’t try to time the market

Even within a city’s limits, there can be micro markets that are increasing or decreasing in value. A knowledgeable buyer’s agent can provide you with a buyer’s market analysis report, outlining which neighborhoods are still up and coming -- with potential for increased property value -- versus those that have peaked with inflated home prices.

There’s never a perfect time to buy a home, even if you’re in a hot market. It can take a while to know what you like, and you may need to see 10 or more houses before you decide. Another good reason to be patient: you might find a better deal. Look for expired listings, which may offer more price flexibility and accept a lower-than-list offer. Don’t bother with FSBO (for sale by owner) listings though -- since they’re not represented by a professional, they are often overpriced.

Be ready to make a stand-out offer

If you love it, make the offer. Otherwise, that dream home may disappear faster than you think, and especially if you’re buying in a hot market. Have your buying agent contact the listing agent before you submit an offer so that they can decide what’s important to include in the offer. If you’re serious about putting in an offer, you want to increase the chances that it’s accepted.

Show that you’re serious about the purchase by creating a buyer’s offer packet. It should include your lender’s preapproval letter, a screenshot of your down payment money in your bank account, and comps that support the rationalization of the offer you are presenting.

Once you’re in the negotiation process, have the inspection conducted before it’s too late to back out of a deal. If there are any major structural issues, you may be able to make the seller repair them as a contingency to your offer. Minor issues that you can repair on your own may be points for negotiating a lower offer.

Work with a professional for insider exclusives


If you’re thinking about buying a home soon, or even in the near future, let me know the details. I may have just what you’re looking for in an exclusive listing not available to the general public - so get in touch today!

This post has been authored by Eric Slifkin, REALTOR® serving South Florida’s Treasure Coast. You can reach me at 888-288-1765, or visit my Web site. As your resource for information on new or resale homes throughout the Treasure Coast, please be sure to contact me about any home you may find on the Web, yard sign or ad and I will research the property, arrange showings and handle all the details. 

Saturday, March 5, 2016

OPEN HOUSE, March 06, Sunday 1:00 PM - 3:00 PM 2256 NW Diamond Creek Way, Jensen Beach, FL

OPEN HOUSE, March 06, Sunday 1:00 PM - 3:00 PM
2256 NW Diamond Creek Way, Jensen Beach, FL
Get Directions Click Here
Description Photos Maps & Local Schools Walk Score
$ Click for current price
5 BEDROOMS
0 BATHROOMS
4820 Square Feet
Don't miss your opportunity to own a brand new, five bedroom Kolter home in The Falls of Jensen Beach for under $500K! This is a spacious two story "Nassau" model with an open concept floorplan. Highlights include a two story high living room, formal dining room, spacious kitchen with large island, granite counters, walk-in pantry and dining nook. The family room opens up to the kitchen and the covered lanai. The home also features a downstairs master suite with two walk-in closets as well as a luxurious master bath with Roman tub, double separate vanities, glass enclosed shower and private commode. A guest bedroom, and laundry room are also downstairs. Upstairs is a large loft area plus three more bedrooms sharing two baths. This is a new CBS built home with impact hurricane windows throughout and comes with a new home warranty. Move-in ready: tour today!
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Eric Slifkin

Keller Williams Realty

772-288-1765

eric@treasurecoasthomesales.com

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