Treasure Coast Real Estate Blog

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

Saturday, May 28, 2016

For Sale in Lake Grove Estates at Palm City, FL 34990

Contemporary Pool Home with Lake Views


Overview
Maps
Photos
Description




















$549,900
Single Family Home
Main Features
3 Bedrooms
2 Bathrooms
1 Half Bathroom
Interior: 2,831 sqft
Lot: 0.50 acre(s)
Year Built: 2000
Location
4934 SW Lake Grove Circle
Palm City, FL 34990
USA
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Monday, May 23, 2016

Get Your Credit Score in Shape Before Buying a Home

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How strong is your credit? Cleaning up your credit is essential before you make any major financial moves. Having a bad score can hurt your chances of being able to open a credit card, apply for a loan, purchase a car, or rent an apartment.

It is especially important to have clean credit before you try to buy a home. With a less-than-great score, you may not get preapproved for a mortgage. If you can’t get a mortgage, you may only be able to buy a home if you can make an all-cash offer.

Or if you do get preapproval, you might get a higher mortgage rate, which can be a huge added expense. For example, if you have a 30-year fixed rate mortgage of $100,000 and you get a 3.92% interest rate, the total cost of your mortgage will be $170,213. However, if your interest rate is 5.92%, you’ll have to spend $213,990 for the same mortgage - that’s an extra $43,777 over the life of the loan! If you had secured the lower mortgage rate, you could use that additional money to fund a four-year college degree at a public university.

So now that you know how important it is to maintain a good credit score, how do you start cleaning up your credit? Here, we’ve collected our best tips for improving your score.

Talk to a loan professional

You can protect your score from more damage by getting a loan professional to check your credit score for you. A professional will be able to guide you to whether your score is in the ‘good’ range for home buying. Plus, every time that you request your own credit score, the credit companies record the inquiry, which can lower your score. Having a professional ask instead ensures that you only record one inquiry. Once you know your score, you can start taking action on cleaning up your credit.

Change your financial habits to boost your score

What if your score has been damaged by late payments or delinquent accounts? You can start repairing the damage quickly by taking charge of your debts. For example, your payment history makes up 35% of your score according to myFICO. If you begin to pay your bills in full before they are due and make regular payments to owed debts, your score can improve within a few months.

Amounts owed are 30% of your FICO score. What matters in this instance is the percentage of credit that you’re currently using. For example, if you have a $5000 limit on one credit card, and you’re carrying a balance of $4500, that means 90% of your available credit is used up by that balance. You can improve your score by reducing that balance to free up some of your available credit.

Length of credit history counts for 15% of your FICO score. If you’re trying to reduce debt by eliminating your credit cards, shred the card but DO NOT close the account. Keep the old accounts open without using them to maintain your credit history and available credit.

Find and correct mistakes on your credit report

How common are credit report mistakes? Inaccuracies are rampant. In a 2012 study by the Federal Trade Commission, one in five people identified at least one error on their credit report. In their 2015 follow-up study, almost 70% thought that at least one piece of previously disputed information was still inaccurate.

Go through each section of your report systematically, and take notes about anything that needs to be corrected.

Your personal information
Start with the basics: often overlooked, one small incorrect personal detail like an incorrect address can accidently lower your score. So, before you look at any other part of your report, check all of these personal details:


● Make sure your name, address, social security number and birthdate are current and correct.

● Are your prior addresses correct? You’ll need to make sure that they’re right if you haven’t lived at your current address for very long.

● Is your employment information up to date? Are the details of your past employers also right?

● Is your marital status correct? Sometimes a former spouse will come up listed as your current spouse.


Your public records
This section will list things like lawsuits, tax liens, judgments, and bankruptcies. If you have any of these on your report, make sure that they are listed correctly and actually belong to you.

A bankruptcy filed by a spouse or ex-spouse should not be on your report if you didn’t file it. There shouldn’t be any lawsuits or judgments older than seven years, or that were entered after the statute of limitations, on your report. Are there tax liens that you paid off that are still listed as unpaid, or that are more than seven years old? Those all need to go.

Your credit accounts

This section will list any records about your commingled accounts, credit cards, loans, and debts. As you read through this section, make sure that any debts are actually yours.

For example, if you find an outstanding balance for which your spouse is solely responsible, that should be removed from your report. Any debts due to identity theft should also be resolved. If there are accounts that you closed on your report, make sure they’re labeled as ‘closed by consumer’ so that it doesn’t look like the bank closed them.

Your inquiries

Are there any unusual inquiries into your credit listed in this section? An example might be a credit inquiry when you went for a test drive or were comparison shopping at a car dealer. These need to be scrubbed off your report.

Report the dispute to the credit agency

If there are major mistakes, you can take your dispute to the credit agencies. While you could send a letter, it can be much faster to get the ball rolling on resolving a mistake by submitting your report through the credit agency’s website. Experian, Transunion and Equifax all have step-by-step forms to submit reports online.

If you have old information on your report that should have been purged from your records already, such as a debt that has already been paid off or information that is more than 7 years old, you may need to go directly to the lender to resolve the dispute.

Follow-up

You must follow up to make sure that any mistakes are scrubbed from your reports. Keep notes about who you speak to and on which dates you contacted them. Check back with all of the credit reporting companies to make sure that your information has been updated. Since all three companies share data with each other, any mistakes should be corrected on all three reports.

If your disputes are still not corrected, you may have to also follow up with the institution that reported the incident in the first place, or a third-party collections agency that is handling it. Then check again with the credit reporting companies to see if your reports have been updated.

If you can keep on top of your credit reports on a regular basis, you won’t have to deal with the headaches of fixing reporting mistakes. You are entitled to a free annual credit report review to make sure all is well with your score. If you make your annual credit review part of your financial fitness routine, you’ll be able to better protect your buying power and potentially save thousands of dollars each year.

How to clean up your credit now

Does your credit score need a boost so you can buy a home? Get in touch with me. I can connect you with the right lending professionals to help you get the guidance you need.

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Eric Slifkin
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Commonly Overlooked Home Inspection Details

Buyer Beware: Don’t Neglect to Inspect a Home Yourself

Home inspection professionals are trained to spot problems and evaluate a home’s overall condition, but this doesn’t mean you should neglect to evaluate a home thoroughly before you buy.

While they have a reputation for being ethical and thorough, home inspectors are also still human. Sometimes details escape their attention.  Here are some commonly overlooked areas you can check for yourself:

Before you sign off on a house, don’t neglect to review these commonly overlooked areas:

1. Roof: Yes, inspectors will consider the roof condition, but they probably won’t be on top of the roof when they do it. This is one area where hiring a roofing contractor to take a look can be a major benefit during negotiations.

2. Fences: You might not think there’s much to inspect here, but replacing a fence is expensive. What looks sturdy on a sunny day can turn into a giant repair after the first storm of the season. This is especially true of wooden fences.

3. Drains: Fill up tubs and sinks and see how long it takes them to drain. If they’re slow, you’ll want to know why. It could be something as simple as a clog, but what if it’s more?

4. Fireplaces: Home inspectors will often give these the once-over, but they sure aren’t going to light a fire. If you can, make sure these operate as expected. It’s also a good idea to find out when the chimney was last cleaned and who the owner uses to maintain it.

5. Heating/Cooling: The time of year might impact how thorough an inspector is with the heating and cooling system. After all, who’s likely to really run the A/C in the winter or the heat in the summer? With such a big ticket item, you want to be certain it performs as expected.

Pricing is directly tied to a home’s condition, so don’t overlook the opportunity to protect yourself from repair bills. Problems present you with leverage in negotiations.

Ready to hunt for a home in great shape? Let me help you with your search. There are all kinds of properties available right now!

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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.



Sunday, May 22, 2016

A Real Estate Marketplace Glossary


As you explore the possibility of buying or selling your home, you may come across terms that are unclear, unfamiliar, or new to you. One thing seasoned professionals in real estate sometimes take for granted is how the “everyday jargon” of real estate isn’t all that everyday for most people.

In the interest of making things along the way as clear as possible, I thought you might like to have this handy reference material published by the Federal Trade Commission. The 18-page PDF guide is free to download. “The Real Estate Marketplace Glossary: How to Talk the Talk,” contains a “glossary to help you better understand the terms commonly used in the real estate and mortgage marketplace.”

You can download the guide online here:

The Real Estate Marketplace Glossary

Naturally, I am more than happy to discuss any of the terms in this glossary. If you have any questions, please don’t hesitate to contact me for further clarification or additional information.

Search All Homes For Sale
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Eric Slifkin
Keller Williams Realty
772-288-1765
Licensed In: Florida
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Saturday, May 21, 2016

Ever Have a “Move In” Garage Sale?

Meet the Neighbors, Make a Few Bucks


It’s common sense to have a garage sale before your big move. There’s no reason to pay movers to load boxes of items you can do without. Plus, who needs the clutter in their new home?

But have you ever considered a garage sale after you’ve moved into your new house?

It’s actually a great idea for a number of reasons:

Why did I save this stuff? When you unpack items in you new home, you’re likely to come across a lot of stuff you find you can live without. What seemed essential in the old place just loses its luster in your new space.

But I thought this love seat would fit in here! Despite our best plans, old furniture can turn out to be a poor fit in new spaces. You don’t necessarily have to live with the mistake. Prep it for sale.

Who are these people, anyway? A garage sale will bring out the neighbors. Despite the bargain seeking and good-natured haggling, garage sales are great low-pressure social situations. People are free to browse without the pressure of making conversation. Small talk arises more naturally. People can come and go without obligation.

Who just bought this place, anyway? It’s an opportunity to be a good neighbor. Put out some snacks and drinks. Be easy about your prices and even throw in a few things for free if someone’s buying. Use the event as an ice breaker rather than a profit maker. A lot of first impressions can be made here... why not make good ones?

If you've still got stuff to bring to the curb, put the post-move garage sale on your to-do list for the move.

Did you know decluttering is also one of the key steps to prepare a home for sale? I have lots of tips if you're considering listing soon. Please get in touch!

This post has been authored by Eric Slifkin, REALTOR® and  Accredited Buyer’s Representative 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.

Rightsizing for Your Next Move

“Where will we put all of our stuff?”


This is one of the foremost questions on homeowners’ minds when they’re making a move. Whether it’s a relocation from a suburban to a city environment, or downsizing for a more comfortable retirement, “stuff” can cast a big shadow. To lighten the burden before the big day, it can be helpful to “rightsize” for your move far in advance. Not only will rightsizing save you time, money, and energy as you transition to a new home, it can also help you learn how to evaluate what you really need versus what you’ve been hanging onto for no good reason.


If you’ve compared your current floor plan to your new one, you’ve probably already made the determination that some things must go. But how do you winnow the pile? Here’s a set of criteria you can use to rightsize your possessions:


1. Is this right for the weather? If you’ve lived in places with severe winters and you’re heading for a zero-snow climate, recognize what doesn’t fit and let it go.


2. Is this right for the lifestyle? Your massive outdoor grill and patio furniture may be a waste if you’re settling into a city high-rise. The same might even be said of a second car or recreational vehicle.


3. Is this expensive to move? Some items cost more to move than replace. This is especially true if the item forces you to upgrade the size of your moving truck.


4. Is this something I really use? If you’re in a storage space looking at stuff you haven’t touched in six months or a year, you probably don’t need to transport it to your new space.


5. Is this going to look out of place? Sometimes a new house will make old furnishings and objects seem tacky or trashy. Imagine where you’re going to move it and see if you can do without.


Once you’ve decided something should go, it’s a simple matter of deciding if it’s a “sell,” “donate,” or “ditch” item. While the income from selling items may be appealing, be sensitive to how much time you have before the move. If time’s short, gifting items to friends, charity, or even the dump is a reasonable way to go.

Ready to look for your rightsized home? Let me help!


Search All Homes For Sale
Free List of Foreclosed Homes
Free Home Values
MY REVIEWS
Eric Slifkin
Keller Williams Realty
772-288-1765
Licensed In: Florida
Contact Me