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Refusing to Follow your Agent's Advice

Many sellers find it very difficult to trust such a big financial decision to their real estate agent. Sometimes, sellers will list their home with an agent and then refuse to follow their advice.

It’s important to keep in mind that real estate agents know the market, and they are familiar with the industry. Real estate agents know how to negotiate as well as how to proceed with all steps of the transaction.

When sellers work with their real estate agent rather than trying to control every aspect of the transaction, the process will go much more smoothly.

If you find yourself refusing to follow your real estate agent’s advice, or doing any of the following, you may find it more difficult to sell your home quickly and for the best price:

• Insisting that your home is worth more than what your agent recommends based on market comparables.

• Pricing your home according to your own financial needs rather than what the home is worth.

• Failing to make repairs or updates that your agent suggests will make your home easier to sell.

• Declining inconvenient showing because you feel your home isn’t ready.

• Staying at home for the showings and interacting with the potential buyers.

• Showing your home to buyers who are not represented by an agent.

• Stalling negotiations over relatively minor points.

Your real estate agent wants what you want – to sell your home quickly and for the best price. Listen to your agent, and you will be much more satisfied with the process and the outcome.

We have the advice you need! Cobblestone Realty, LLC

Buying an Investment Property

Today’s low home prices paired with record-low mortgage interest rates make right now an appealing time to buy an investment property. The market is also showing signs of recovery, so it truly could be a good time to invest in real estate. However, before you jump at buying your first investment property. Consider the following: Remember that old cliché saying: Location, location, location. The location of your property is important, especially if you want to rent it out. Stay away from rural areas where few properties are being rented. Look for properties in places with a low crime rate and a good school district. Know what your options are. Do you want to become a landlord? Do you want to restore and resell properties? Would commercial real estate be a better investment for you? Many first-time investors start with residential housing, but it’s important to be aware of your options and thoroughly research them.  What will the additional expenses be? You will most likely have more expenses than just the monthly mortgage payment on your investment property. Consider the HOA fees, utilities, ongoing maintenance, and insurance. Make sure your monthly cash flow will help you manage your additional expenses. What are the loan requirements? For investment properties, there are usually higher interest rates and a larger down payment is required – usually 20 percent, since mortgage insurance isn’t available on investment properties. What is your time frame? Determine when you want to purchase your investment property. Take your credit score into consideration. Make sure you will be able to get a good rate with your credit score. If not, you may want to work on improving your credit score before becoming a real estate investor. Also consider your cash flow and savings when setting your time frame. Make sure the property meets your needs. Just as you would as a first time homebuyer, make a property wish list. Use a real estate agent to assist you in finding a property that fits your needs. Consider and prioritize your needs and wants, and look for a property with the most important features.

Forclosure Crisis: No Longer a Crisis

Last month, the number of new foreclosure filings hit its lowest level in almost eight years, according to RealtyTrac, an online marketer of foreclosed properties.

Steadily increasing home prices and a large decline in borrowers who owe more on their mortgage loans than their homes are worth have helped in pulling us out of the foreclosure crisis.

Our nation has been dealing with the foreclosure crisis since the housing bubble burst in 2006. Loans that originated during the most inflated years of the housing bubble account for the bulk of foreclosure inventory in 2013. However, despite the number of bad loans originated during the height of the housing bubble, much tighter lending standards over the past few years and recently rising home prices have caused foreclosure activity to continue to see a downward trend.

Even loans guaranteed by the Federal Housing Administration, which are considered particularly risky due to their low down payment requirement, appear to be performing markedly better since 2010. New FHA loans are generating surplus funds, which are being used to offset losses from past loans.

While we may be out of the foreclosure crisis, there is still a lot of clean up left behind by the housing bust. Those in the housing and mortgage industries, as well as the policy makers, need to learn from our past mistakes and continue to be cautious as to avoid any future crisis. 

"Let Cobblestone Realty, LLC assist you in all of your Real Estate needs!"

5 Buyer Turn Offs

As a seller, you won’t be able to please everyone. There will always be potential homebuyers that turn away for one reason or another, and there is nothing you can do about it. However, these 5 buyer turn offs are easy to avoid and by following them, you’ll have a better chance of selling your home faster.

1. Odors. You already know that your home should look clean and decluttered and that you should spend time on home staging. However, powerful odors can turn buyers away just as fast as a dirty home. Bad odors such as cigarette smoke and pet odors, even in a clean home, will turn off buyers. If you’ve had a smoker in your home or have had an issue with pet accidents, eliminate those odors by any means necessary. Since we often get used to the smells in our homes, ask your real estate agent, home stager, friends or family members to let you know if they notice any strange odors in your home. Make sure your home smells fresh without being overpowering.
2. Temporary messes. Obviously, you will plan on showing a clean home, but potential buyers can be turned off by a few toys scattered on the floor, a few dishes in the sink, stacks of papers, or piles of clothes laying around. While these seemingly small, temporary messes may not turn every buyer away, they are distracting. Picking up before every showing is essential and will help buyers see themselves living in your home rather than seeing how you live in your home.
3. Wallpaper. You may have grown up with it, and you may even have modern wall covering that you believe is chic. However, the majority of today’s buyers want nothing to do with wallpaper. It’s difficult to remove, many people believe it is dated, it’s too personalized, and it’s just one more thing a buyer will have to change about the home.
4. Sellers who are present during showings. Do not plan on walking around with a buyer, giving them your opinion, input, or “helpful” information about the home. Buyers won’t feel like they can talk about the home if you’re there. Make sure you’ve covered all your bases by cleaning, staging, and creating an inviting atmosphere, and let the home speak for itself.
5. Too many personal items. When a buyer tours your home, they want to picture themselves living there. Decorating a place to live in is different than decorating a place to sell. Eliminate all personal items where possible, including photos, personal effects, and religious décor.

Cobblestone Realty is your number one source for Real Estate in the Jupiter Area and surrounding communities. Let us help you in your Real Estate Adventure.

What is Reverse Mortgage?

According to the U.S. Department of Housing and Urban Development (HUD), about half a million Americans who are 62 or older currently hold a reverse annuity mortgage.

A reverse mortgage is simply a home equity loan that is designed to defer your mortgage interest and is secured by your home.

With a traditional mortgage loan, the homeowner makes scheduled monthly payments over a specified term (usually 10-, 15-, or 30-year mortgage loans). With a reverse mortgage, the interest is not due until the loan reaches maturity. As long as the homeowner continues to reside in the home and pays their property taxes and insurance, they can take advantage of holding off on monthly payments on the amount they borrowed.

To qualify for a reverse mortgage, a homeowner must be 62 years old or older with substantial equity in their home. There are no income or credit score requirements and no monthly repayments, but the homeowner must continue living in the home as the primary residence and pay property taxes and insurance.

The amount of money a homeowner can borrow with a reverse mortgage loan is dependant on:

• Appraised value of the home;
• Balances of any outstanding mortgages and other liens;
• Interest rate to be applied;
• The homeowner’s age;
• Whether proceeds are taken as monthly payments, a line of credit, or in a lump sum.

A reverse mortgage is a form of installment borrowing. The loan does not have to be repaid unless paid voluntarily, or until the homeowner dies, the home is sold, or the owner vacates the property for more than one full year.

Keep in mind, however, that the beneficiaries of the home will ultimately be responsible to pay off the loan once the homeowner dies. The heirs have up to 12 months to complete a sale or pay off the balance of the loan. If the heirs choose not to act, the reverse mortgage lender will have to foreclose on the home. In the event that the sale of the home does not produce sufficient funds to pay off the balance of the reverse mortgage, the government insurance the homeowner would have paid as part of closing the reverse mortgage loan will cover the estate.

Reverse mortgage loans are meant for those who do not have enough income to meet their needs. However, because there are costs associated with setting up a reverse mortgage, such as appraisal and origination charges, it is not recommended for homeowners who don’t intend to continue living in their home long-term.

The Federal Housing Administration requires anyone looking at a reverse mortgage option to receive independent 3^rd party counseling by phone or in person. Once the counseling is completed, the homeowner will receive a certificate of completion, which is then delivered to the lender of their choice. Approved counseling agencies can be found here.

A reverse mortgage loan is a decision that requires careful thought and planning. Contact us today to discuss whether a reverse mortgage is the right option for you.

Any Questions you may have we can help Cobblestone Realty.

Is Mortgage Finance right for you?

As interest rates continue to remain lower than they’ve ever been, you may be wondering if a mortgage refinance is right for you.

Currently, the interest rate for the most attractive borrowers falls below 4 percent.

Here are some questions to ask yourself to determine if now is the right time to refinance your mortgage.
 1.    Do I have a good credit score?
If you have a great credit score, you’re more likely to get the best rates and lowest fees. Check your credit before shopping around. You can obtain one free credit report each year from annualcreditreport.com.
 2.    Do I plan on selling my home soon?
Depending on the type of refinance, it can take years to make back the points and fees on a new mortgage loan. If the refinance includes closing costs, you can pay thousands of dollars. Make sure you plan on staying in the home for a few years so the savings on monthly interest costs offset the closing costs.
 3.    How much is my home worth compared to how much I owe?
You can get a comparative market analysis from your real estate agent to see a list of comparable recent sales in your market. If the current market value of your home is less than what you currently owe, a refinance may not be right for you. In addition, if you owe less than $100,000, you probably won’t save much money by refinancing.
 4.    Are the costs and financial consequences worth it?
When shopping for a refinance, ask for a fees worksheet that will give you an idea of the closing costs. Also, keep in mind that you receive a mortgage interest tax deduction on your monthly payment. Refinancing will leave you with a lower interest rate, meaning less to deduct. Make sure you look carefully at the costs as well as the benefits of refinancing.

 Lets Cobblestone Realty answer any questions you may have.

5 Staging Mistakes during the selling process

Home staging is a crucial element of selling your home successfully. If your home is not staged properly, it could sit on the market for months opposed to a comparable home that has been staged. When staging your home to sell, avoid making these 5 staging mistakes: Customizing your home around your personal preferences. When your home is full of items that scream “you,” it is hard for potential buyers to envision themselves and their belongings in your home. Depersonalize your home by taking down any photos and creating a neutral look that will appeal to the majority of your potential homebuyers. Allowing your home to look “lived in.” When you show your home, it must be immaculate every time you show it. Your home should look like nobody lives there. No toothbrushes out on the sink, no visible paperwork, no signs of pets, nothing on a counter that isn’t part of the staging design. This can definitely be time consuming and difficult to keep up, but it’s worth it. Even a few toiletries can be distracting to potential buyers. Work with your agent to set up showing times that will work with your schedule so you can keep your house looking immaculate. Communicate with your family the importance of picking up after themselves and wiping down the kitchen and bathrooms daily. Cluttered closets. It might be tempting to shove odds and ends into your closets to keep them out of the way, but most home buyers are looking for storage space when they look at a home, so they will likely look in your closets. Well-organized closets with space will create the impression that the potential buyer will also have ample space in your home. Consider selling, donating, or throwing things away that you no longer need so you don’t have to stuff them in a closet. If your closets are full of items that you still need, but not immediately, pack them away in storage while you attempt to sell your home. Keeping your home too dark. Emphasize the natural light in your home by opening all blinds and curtains, if applicable. The more light, the better. Make sure that no large furniture blocks any windows. Not staging at all. Unfortunately, many sellers make this mistake. If you are unsure how to stage your home, hire a professional. Many beautiful homes fail to sell because of dated furniture, poor décor choices, old paint jobs, or because the home wasn’t clean enough. Good staging means more money for your house. Not staging can cost you more than the cost of putting effort into getting your home ready to sell. Hire a good real estate agent, read staging books, or hire a professional stager.               Visit Cobblestone Realty, LLC

Unexpected Housing Costs can bite into your budget

Posted by Joe Quirk
When looking to buy, many homebuyers look at space, neighbourhood and nearby schools. But can you actually afford that home and any unexpected costs? “You should always plan for extra and unforeseen costs when you buy a home, so it’s important to strike a balance between having a nice property and maintaining a lifestyle that you’re comfortable with,” says Marcia Moffat, RBC head of home  equity financing. How much would your current mortgage  payment have to increase before you start to  become concerned? An RBC Home Ownership poll showed that 18 per cent of Canadian homeowners felt they were at their mortgage limit and rising costs (due to increasing mortgage rates or housing prices) was the number-one concern  for Canadian homebuyers. Here are three tips to help you budget before buying a home: 1. Leave wiggle room Compare your pay cheque to your total costs. Make sure that you have enough left over for new furniture and costs of living. Include lifestyle considerations to make sure that you aren’t leaving yourself house-poor. 2. Cover all the angles Consult with a mortgage specialist to determine the total costs of home ownership, conduct a spending analysis and build that into your plan. 3. Look to the future Prepare for affordability down the road by stress-testing your mortgage for future rate increases with the help of a specialist. This will give you a better idea of what’s affordable now and in the future. NC
	Categories: Finance

3 Surprising Things Buyers Look For

3 Suprising Things Buyers Look For
Posted by Joe Quirk
When listing your home, you always think of the essential things such as the number of bedrooms, bathrooms, square footage, and obvious amenities. However, there are certain things that many buyers look for that sellers often forget to mention in their listings and marketing materials. Here are three surprising things buyers look for when purchasing a new home that you should consider if you are selling your home: Storage and organization. Most first-time home buyers have been used to renting and having limited storage space that they are so excited to get into a home where they will finally have a clutter-free area to store their items. If you have extra storage space, organized closets and/or pantries, or other built-in storage amenities, it’s worth mentioning in your home’s marketing materials. Energy efficiency and “green” living. Many energy efficient features are very budget friendly for homebuyers. Homebuyers understand that utility costs are additional to the purchase of their home, and it’s something they will consider in their budget. If your home has dual paned windows or new insulation, mention it. If you are including energy efficient appliances in your home, mention it. There are many buyers who are attracted to “green” environments, so if you have a “green” home, many homebuyers will appreciate it. Updated design and colors. When you’ve lived in your home for over 10 years, you often get used to the design and colors you chose 10 years ago. When selling your home, remember that you are selling to a new audience. Update your colors, but keep them neutral. Update any outdated or kitschy design elements you have. Hiring a home stager is a great investment and can help you sell your home faster and make it more appealing to new homebuyers.
	Categories: Advertising, Competition, General Real Estate, Helpful Tips, House and Home, Marketing, Markets/Economy, National Topics, New Trends, Other, People, Places/Spaces, Real Estate News, Real Estate Practices, Service/Services

Breathe new life into your old home before making your move

Posted by Joe Quirk

For many of us, the process of selling a home can be an emotional roller coaster ride filled with nerve-wracking inclines, unpredictable dips, and unexpected loops. But once the ride ends and we arrive safely back on solid ground,  there is often a sense of relief and joy, and some of us even have the guts to do it all again!
If you’ve recently buckled your resale seatbelt or are planning to take a real estate ride in the near future, I have a few tips that can help to make the experience move smoother and faster.
Preparing a home to sell is so much more than just making a space look good at first glance! It’s equally important for a home to feel good, smell good, and even sound good! Successful staging really is all about creating a positive sensory experience for potential buyers, and ultimately making upgrades and changes that will have a significant return on your investment of time and money. But where should you begin?
The easiest way to kick-start the staging process is to first perform a little domestic CPR – Clean, Purge, and Repair!

Clean:
A huge staging misconception is that it takes the investment of a brand spankin’ new kitchen or newly renovated bathrooms for a home to increase potential resale profits. The good news is that those pricey upgrades will likely shorten the length of time that your home is on the market, but the actual return on investment is often dollar for dollar. If you really want to get the most bang for your buck, simply rolling up your sleeves and thoroughly cleaning your home from top to bottom can offer upwards of a 500 per cent or more return on your investment of time and money. That’s like saying that for every dollar you give me, I’ll give you back five. And the great news is that most cleaning tasks only require a little bit of time and elbow grease to completely transform the look, feel, and smell of a home.

Purge:
If resale is on your horizon, it’s a great time to weed through all of your “stuff” and determine what you want to take with you when you move, and what you can get rid of immediately. I often say, if you haven’t used it in the past six months, it’s time to lose it! It’s easiest to create three categories of unwanted and unused items and separate them into the following piles: sell, donate, and toss!
It’s also incredibly important to depersonalize and declutter as much as possible by removing family photos, reorganizing closets, and tackling the “junk drawer.” Ensuring that all areas of your home are free from clutter will help potential buyers focus on your space and not your stuff, and removing personal items will help them to envision themselves living in the home more easily.

Repair:
Nothing sounds worse to a potential homebuyer than the sound of work! Squeaking doors, creaking floors and screeching appliances are red flags that a home has not been lovingly maintained.
The best way to tackle your list of repairs is to divide them into two categories. In the first, make note of tangible DIY tasks that you can efficiently complete on your own. Ensure that you have the right tools for the job, and that you feel confident in using them. If there’s one tool that I think every homeowner should have, it’s the Matrix quick connect system by Black & Decker. You can swap out the various interchangeable heads in seconds to transform the drill into a sander, or a circular saw, or an impact driver. It’s like having a whole workshop inside one small toolbox.
In the second repair category, create a list of tasks that require hiring a professional. Be realistic with your budget and timeline, and remember that repairs done by a professional should be seen as an investment, not a cost.
Now, take a deep breath and breathe a little CPR into your home to speed up the real estate roller coaster ride and maximize your potential for added profit.

www.cobblestonefl.com

Homes For Sale - 4726 Dovehill Dr Palm Beach Gardens, FL 33418

When Buying from a Builder

Do I Need an Agent when Buying from a Builder?

Posted by Joe Quirk

If you are purchasing a home from a homebuilder, you might think that you don’t need a real estate agent. However, a homebuyer can be at a big disadvantage if they don’t use a real estate agent and just go directly through the buyer. The real estate agent’s job in this type of transaction is to represent the buyer and assist them throughout the transaction. The agent’s responsibility is to get the buyer the most value for the least amount of money. You may currently be working with the builder representative at the model home, but that representative is not a real estate agent working for you. They are a salesperson for the builder working toward the best interest of the builder. When you work directly with a builder, you will be responsible for negotiating. As a homebuyer, you may be unaware of what incentives are typical, alternative financing, who pays for what, what upgrades should cost, etc. Real estate agents negotiate on a daily basis. They know what questions they should ask on behalf of the buyer that the buyer may not even think about. Real estate agents are licensed and governed by strict laws and a code of ethics. Agents have the motivation to work in your best interest as a homebuyer because they also rely on your referrals and repeat business, which is a powerful incentive for providing the highest level of service. Have someone in your corner when working with a homebuilder, and hire a real estate agent when building a home. www.cobblestonefl.com