My FLORIDA Dream Home

The Top 5 Ways to Prepare to Purchase a Home

2012-03-01T09:21:00.001-05:00

by JoAnn Young - EXIT 1st Class Realty --There are several reasons buyers are afraid to make the jump from "LOOKER" to "HOME BUYER". A buyer needs every advantage they can to make an informed decision on whether now is the right time for them to buy a home.

1. Get Pre-Qualifed. The most important thing to do before you start to shop for a home is to meet with a local and trusted mortgage broker. A Mortgage Broker can pre-qualify you at no cost. They will look at your credit and your financials and let you know what programs you qualify for and/or what you need to do to get prepared to buy a home.

2. Hire a Buyer’s Agent. You can usually hire a buyer’s agent at no cost to you. They get paid a commission by the listing agent’s split commission advertised in the MLS. They can obtain the information for you on any house listed and you will have someone in your corner assisting you through each step of the buying process.

3. Know what type of properties you should be viewing . Depending on the type of mortgage you are getting, they may require the property to be in move-in condition. FHA or VA does not tolerate deficiencies to a property. If a houses need work, you may not be able to purchase using this type of financing.

4. Making an offer. When you find that dream home, the first thing you should do before making an offer is to assess what the house is worth in today’s market. Never base an offer on the asking price! You do not know if the asking price is priced at market value, priced too high or priced too low to attract more buyers to “bid” on a property as if in an auction. Your Buyer’s agent can give you tools to help make this assessment.

5. Contingencies you need to include. Price is not the only variable a seller reviews in your offer. Contingencies are also a factor. Two contingencies you should include are obtaining financing and getting a home inspection. You can reduce the negative effects of each by including your pre-qualification or better yet, pre-approval letter and keeping your inspection to within 7 days. Closing dates are also important but can be negotiated.

Buying a home right now may not be right for every person. You will need to assess your financial situation and the condition of the Real Estate market where you live. Interest rates are low as well as sales prices in the Brevard County market. Mortgages are more difficult to get but banks ARE loaning money to qualified buyers. Prices are stabilizing in our market and buyers are more comfortable with the position with equity. If you are ready, willing and able to purchase then contact JoAnn Young for your experienced Buyer's Agent. (321) 243-4917.

1.18 Acre Hideaway - 3728 Harlock Rd. Melbourne, FL

2012-02-29T21:21:00.004-05:00

Residential Real Estate for Sale in Melbourne FL at 3728 Harlock Rd

3728 Harlock Rd
Melbourne, FL 32934
$289,000
3 Bedrooms
2 Full - 1 Half Bathrooms, 1.18 Acres

Enjoy the privacy as you pull into the private entrace surrounded by trees and a pond. This 2 story home is bordered with trees for privacy.You will enjoy the wood-burning fireplace as you sit in this big open living room. All new cherry wood kitchen and new updated electrical panel. Don't wait! Come and relax in your private getaway and enjoy the peace and quiet.

	JoAnn Young Realtor 321-243-4917 Cell 321-259-3990 Office http://www.jyoung.mybrevardfloridahomes.com
	EXIT 1st Class Realty 4865 N. Wickham Road Suite 104 Melbourne, FL 32940 321-259-3999 Fax Each office independently owned and operated

Do You Owe More Than Your House is Worth?

2012-02-28T21:09:00.001-05:00

Here in Brevard County, FL, many homeowners have had to sell their homes owing more than their house is worth. Some can no longer afford the payments and believe foreclosure is their only option. Other homeowners need to sell due to a job transfer, marriage, divorce or illness and just owe too much and also assume they cannot sell their home.

There are options for all of these scenarios. A Short Sale will allow you to sell your home at the current market value and asks your bank or mortgage company to accept this lower amount. A Short sale often costs the seller no out of pocket expenses.

Having a professional, local, full time agent who is well experienced in short sales will make all the difference in the world. I strive to be that agent by offering the best in personal and professional service while guiding you through each step of the short sale process.

THE BASIC PROCESS OF THE SHORT SALE

1. THE FIRST STEP: In order to complete a short sale, a seller must be able to show a "hardship". Some examples are: not being able to afford your monthly payment, losing a job, illness, divorce, death or a job transfer to another state.

2. THE MOST IMPORTANT THING is to choose a local Realtor who is experienced in listing, negotiating and selling short sales. Beware of out of state companies or people who promise you things that sound too good to be true. If you live in Brevard County, call JoAnn Young first for experience involving short sales.

3. STARTING THE PROCESS. You will need to gather your last 2 years tax returns, last 2 pay stubs, 3 month bank statements, a list of income and expenses and write a hardship letter. The listing agent or negotiator will complete a title search to see what liens are attached to the property to be sold or if your home is in foreclosure.

a. The listing agent or negotiator will make preliminary contact with the mortgage company / bank to obtain any specific forms or instructions they will need to complete the short sale

b. A The listing agent should have some idea of what the property’s value is. . The home should be priced at or just below market value. Pricing a home too low, will result in the short sale being counter offered or refused.

c. The listing agent markets the property in search of potential buyers and offers

4. RECEIVING AND ACCEPTING AN OFFER. The one thing to remember is the sale is between the buyer and the home owner, not the buyer and the bank. The seller should choose the best offer to accept and submit to the mortgage company for approval. The buyer should be ready to close within 30 days of the acceptance of the short sale offer from the bank. If the house needs any repairs, they should be noted in the initial offer, not left to work out later.

5. SUBMITTING THE SHORT SALE FOR APPROVAL. Once an offer has been submitted and the seller’s financials are gathered, the listing agent or the listing agent’s professional negotiator will submit the short sale package to the bank. The short sale offer and package MUST be complete or will be rejected.

6. THE SHORT SALE APPROVAL PROCESS. Once the bank receives the file, the bank will assign a negotiator. This could take 1-2 weeks. They will review the package and if it is complete will order an appraisal or Broker’s Price opinion (BPO) within the first 2 weeks. It could then take 2 more weeks to finish the appraisal. Once it arrives, the negotiator will review the home’s value and what proceeds they will receive from the short sale versus what they would receive if they foreclosed. This could take 2-4 more weeks.

7. THE BANK’S RESPONSE TO YOUR SHORT SALE. On average, it takes 2-3 months if you have only 1 mortgage. The response from the bank can be either to accept your offer as is, or they can counter the offer trying to reduce the costs of the short sale by asking the buyer for a higher price, better terms or money from the seller. Worst case is they deny the offer i.e. if the seller does not have a hardship of if the offer is just way too low.

==========

The 2 most important things to note are:

1. A short sale should NEVER be considered approved unless received in writing. All offers, counter offers and such should always be in writing for your protection. No matter what, a short sale will only go as well as the listing agent is experienced in short sales. The short sale process will be much more difficult with an un-experienced agent. It is common for short sales to go 3-6 months. One more important tip is for the seller to stay in the home. Leaving the home early, lessens your negotiating power with the bank.

2. Unless the government passes an extention, the tax forgiveness act for homeowners (on the difference between what they owe on the note and what the bank gets), expires 12/31/2012. Homeowners in distress NEED to get a short sale done and quickly! Time is running out if the process takes up to 6 months. It could mean homeowners will owe the IRS thousands of dollars in tax forgiveness

3.. Use an agent who is local and well experienced in listing, negotiating and selling short sales. JoAnn will guide you through each step of the short sale selling process. If you want an agent experienced and successful in short sales, call JoAnn Young 321-243-4917 EXIT 1^st Class Realty, Melbourne, FL email JoAnn

Search Beachside Foreclosures starting at $69,900!

2012-02-27T21:00:00.000-05:00

Search Beachside Foreclosures starting at $69,900 Cocoa Beach, Cape Canaveral, Satellite Beach, Indialantic, Indian Harbour Beach, Melbourne Beach

Click Here NOW! Then call JoAnn Young! (321) 243 4917

Fishing Osprey

2012-02-22T07:51:00.000-05:00

Fishing Osprey

Pool Homes in Melbourne, Viera and Suntree!

2012-02-21T15:51:00.002-05:00

So you want a home with a pool? Start your search today and be swimming by April!
Click Here Now to see pool homes in Melbourne, Suntree and Viera!

Then call JoAnn Young 321-243-4917

Search Homes of 1 ACRE or more!

2012-02-21T15:38:00.001-05:00

Search properties of 1 ACRE or more in Brevard County right here, right now!
Click here to start your search!
Then Call JoAnn Young today before your Dream Home is gone. 321 243 4917

Beachside Foreclosures starting at $84,900

2012-02-21T15:29:00.001-05:00

Search Beachside Foreclosures starting at $84,900 Cocoa Beach, Cape Canaveral, Satellite Beach, Indialantic, Indian Harbour Beach, Melbourne Beach
Click Here Right Now!
Then call JoAnn Young! (321) 243 4917

2 Bedroom Ocean Front PLUS more condos starting a $117,500 - Search NOW!

2012-02-21T15:21:00.001-05:00

Search Ocean Front Condominium for sale right here for Cocoa Beach, Melbourne Beach, Indian Harbour Beach, Satellite Beach, Cape Canaveral, Indialantic!
Click Here NOW!
Then call JoAnn to see your DREAM HOME! 321-243-4917

Search Foreclosures here for Melbourne, Suntree & Viera!

2012-02-17T19:03:00.001-05:00

SEARCH MELBOURNE, SUNTREE & VIERA FORECLOSURES!
CLICK HERE TO START
Then Call JoAnn Young! 321-243-4917

How Do I Increase the Value of My Property?

2012-02-16T21:04:00.001-05:00

The biggest factor that can affect property value is market conditions, which are outside of your control. But other factors such as condition of the property, certain home improvements, neighborhood stability and safety are not. Some home improvements can increase your property value such as remodeling a kitchen or bathroom. The kitchen in your home is a critical selling point. Modern bathrooms are also a big asset.

Upgrading your landscaping to add curb appeal is also an increaser. A good first appearance on a home can add as much as 5 percent to 10 percent to the value of the home. You don't have to spend a fortune on plants, either. Just keep it typical with the neighborhood.
Keep your home well-maintained. Don't let items of repair go undone.
It helps to live in an area where other homeowners are upgrading their homes. Just remember, if you over-improve for the neighborhood, you may not necessarily recover your costs or boost your value significantly.
If you have any further questions regarding increasing your home's value, give me a call and we can talk about it more. 321-243-4917
If you or someone you know is buying or selling a home, I would be honored if you would refer me to assist in thc transaction. Call or email me.
- JoAnn Young - Exit 1st Class Realty, Melbourne, FL

For Sale - 2673 Shell Wood, Melbourne, FL

2012-02-16T16:58:00.002-05:00

Residential Real Estate for Sale in Melbourne FL at 2673 Shell Wood Dr

STUNNING LAKE WASHINGTON POOL HOME LOCATED IN THE PRESTIGIOUS NEIGBORHOOD OF DELL BROOK! This 4 bdrm 2.5 bath home is surrounded by gorgeous landscaping and a privacy wall with it own gate access. Property sits on 1 acre of land with private pool and pond with 2 bridges to enjoy. Home offers separate LR & DR. Enjoy relaxing in the lg FR equipped with a stone wood burning fireplace. Kitchen is updated w/ granite counters, appliances and a lg eat-in area. Plz click Brochure for more info.

	JoAnn Young Realtor 321-243-4917 Cell 321-259-3990 Office http://www.jyoung.mybrevardfloridahomes.com
	EXIT 1st Class Realty 4865 N. Wickham Road Suite 104 Melbourne, FL 32940 321-259-3990 321-259-3999 Fax Each office independently owned and operated

2673 Shell Wood Dr
Melbourne, FL 32934
$317,900
4 Bedrooms
2 Full - 1 Half Bathrooms
1.00 Acre

Scan with your Smartphone for mobile listing

Post created on February 16, 2012 at 4:48 pm with PureAgent eFlyers from Onjax

Kingsmill Subdivision to Receive Relief from Future Flooding

2012-02-09T10:09:00.001-05:00

Kingsmill Subdivision has finally received the attention needed for flood relief! 1.6 million in drainage upgrades slated.
See Florida Today Article here

1 Yacht Club Lane, Indian Harbour Beach, FL - Foreclosure!

2012-02-08T08:28:00.001-05:00

Bank owned home ready to close. $275,000 Already Appraised. 3 Bedroom / 2 bath / 2 Car Garage. Open and bright foyer leads to living room with fireplace. Formal dining and eat in 20 X 11 kitchen. Lots of built ins. Two porches under air. Relax in the heated inground pool. Jetted tub with glass block walk in shower. 2767 Sq. ft. Built in 1975. Lots of light from skylights. Lot size 140 X 95, Walking distance of parks and shopping & near Eau Gallie Yacht Club.

Call JoAnn Young to View this Property! 321-243-4917 or email JoAnn@MyFLDreamHome.com Listed with Exit 1st Class Realty

4248 Chastain Dr., Melbourne, FL 32940

2012-02-05T17:00:00.001-05:00

Newly Listed Chastain Manor Beauty! $289,900 UNDER CONTRACT IN 4 DAYS!

Beautiful 5 Bedroom, 4 Bath, 3 car-garage, POOL & SPA home in popular Chastain Manor, a gated community. This home features a formal Living, Dining, & Family Room. Kitchen is gorgeous with granite countertops, 42" cabinets, breakfast bar and nook which overlook the Family Room. Cyber space area. Screened porch with pool/spa in privacy fenced yard. Master Bath with double sinks, garden tub, separate shower & toilet room. Spacious Master suite! 2812 Sq. Ft home under AC. Built in 2003. ICI Builders. Excellent location close to I95, Patrick AFB, beaches, dining, shopping golf & more!

This home is listed with EXIT 1st Class Realty, Call JoAnn Young for more details! 321-243-4917

Email JoAnn@MyFLDreamHome.com

Updated Stats for Kingsmill Subdivision

2012-02-05T08:06:00.000-05:00

We have some activity to report for Kingsmill Subdivision for the month of January 2012!

Sales for January 2012:
2725 Empire $145,000 (short sale) 4 Bed, 2 Bath, 1720 Sq Ft, Pool
2413 Nobility $134,900 3 Bed / 2 Bath, 1720 Sq Ft., No Pool

Most recent Sale - February 2, 2012:
2518 Kingsmill $160,700 4 Bed / 2 Bath, 1830 Sq Ft., Pool -Note this house was repaired before being put on the market (formerly a foreclosure)

There are currently 4 homes under contract to date.

There is currently 1 active home listed for sale on Kingsmill Ave for $110,000 and is a short sale back on the market.

If you live in Kingsmill and you are thinking of selling your home or if you know someone looking for a home to buy, why not give Kingsmill resident, JoAnn Young a call or text today? 321-243-4917. or email JoAnn@MyFLDreamHome.com

Kingsmill Subdivision Statistics for 4th Quarter of 2011

2012-01-19T07:12:00.000-05:00

Recent Sales Activity in KINGSMILL SUBDIVISION

DOM = Days on Market

1/10/2010 $145,000 2725 Empire - 1903 Sq. ft. Pool DOM 150 (short sale)

12/16/2011 $130,000 2753 Majestic - 1858 Sq. ft. DOM 28

12/07/2011 $146,500 2781 Empire - 1564 Sq. ft. Pool DOM 25

10/24/2011 $110,000 2413 Nobility - 1720 Sq. ft. DOM 31

As of 1/18/2012

There are 7 properties under contract

There are 0 actively listed properties

If you have a home to sell in Kingsmill Call JoAnn Young 321-243-4917, Use the same phone number if you would like to buy a home in this lovely community!
JoAnn@MyFLDreamHome.com

2012-01-18T21:10:00.001-05:00

By Realtor, JoAnn Young - Exit 1st Class Realty - 321-243-4917

Ready to Sell Your Home? Turn to a Realtor for Professional Advice

Homebuyers and Sellers : Why Work with a Realtor?

Preparation, Patience and Perseverance—The three P’s of real estate... These qualities are needed in abundance when someone goes through the complex process of buying or selling a home.

REALTORS in Florida know that keeping homebuyers and sellers informed is key to a smooth , successful relationship.

Buying or selling a home is one of the most complicated decisions that an individual, couple or family will ever make. It is a major investment of money, time, effort and emotions. Taking steps to safeguard that investment by using a Florida Realtor—a trained professional who voluntarily agrees to act under a Code of Ethics, simply makes sense.

Marketing and selling a home is a process that involves all the tools of the real estate profession, from social networking to Multiple Listing Service postings,. A Realtor can help you avoid potentially costly mistakes and keep the sales process running smoothly, saving time, money and headaches.

In guiding you through the maze of paperwork and procedures involved in selling a home, a Realtor can provide you with full competent services:

· Gather information about your home.

· Analyze comparable home sales.

· Design an effective strategy to market your home.

· List your home on the Multiple Listing Service (MLS)

· Bring qualified buyers to preview your home.

· Guide you through all aspects of the sales contract.

· Help to investigate financing, arrange for home inspections and appraisals.

· Serve as your representative at the closing of your home.

There is so much a Realtor provides as a service to the Seller and the Homebuyer. If you are thinking about selling your home or starting to look for a new home, why not call a professional who knows the market and the in's and out's of selling and buying. Call JoAnn Young 321-243-4917 email JoAnn@MyFLDreamHome.com

Housing Market Indicators - January 2012

2012-01-18T16:25:00.000-05:00

Call JoAnn Young for information on buying or selling a home. 321-243-4917

Florida existing home sales:
(month-to-previous-year comparison) +11%

Florida existing condo sales:
(month-to-previous-year comparison) +2%

Florida existing home median price: $130,100

Florida existing condo median price: $86,700

National existing home sales:
(month-to-previous-month comparison; all housing types) +4%

National existing home median price $164,200

National (Freddie Mac) mortgage rate (all housing types) 3.89%

Information complied from Florida Association of Realtors January 2011

801 NE Vance Circle, Palm Bay, FL - Waterfront Property!

2012-01-07T19:23:00.003-05:00

801 NE VANCE CIR , PALM BAY, FL 32905. $165,000

Looking for a wonderful waterfront property with amazing water views? Then look no further! Canal is navagational to the Indian River. This home boast many upgrades to include updated baths, updated kitchen with newer appliances and pull out kitchen draws. Pool has been completely refinished in 2010. Pool filter updated in 2011. Newer roof (2003). Lot size 125 X 112. CBS home. Great established neighborhood!Come see this adorable home today! Convenient to shopping,restaurants and other amenities. Hurry before it is gone!
Listed with Exit 1st Class Realty - Call JoAnn Young for more details on this property. 321-243-4917

Merry Christmas and May all Your New Year Dreams Come True

2011-12-24T09:42:00.001-05:00

To All My Friends, Family and Subscribers, Have a blessed Christmas season and a Prosperous & healthy New Year!

Merry Christmas!
JoAnn Young
Realtor Associate - Exit 1st Class Realty, Melbourne, FL
Mortgage Brokerage Business Owner - People's First Financial Services, Melbourne, FL
321-243-4917

Oceanfront Condo for sale in Beautiful Somerset, Indian Harbor Beach, FL

2011-12-19T07:20:00.007-05:00

For Sale! Beautifully decorated and upgraded condominium on the Atlantic Ocean with direct access to the beach. You will think you died and went to heaven looking out at the view this condo has to offer!!! Come watch dolphins play and turtles nest right from your living room!

Oceanfront condo with spectular views of ocean and beach. Located in the heart of the Spacecoast. Only 15 minutes from Melbourne Airport and one hour from Orlando. This spacious-bright-airy condo has a desirable, open floor plan. Closets, kitchen and baths have all been upgraded. Skilled use of accent lighting and color give a warm homey feeling to the unit.World class surfing and fishing is at your door. Walk to shopping and resturants. Must see! This 3 bedroom, 2 1/2 bath 2225 Sq Ft unit has been well-cared for in one of the newer Somerset Oceanfront Condos in Indian Harbour Beach. Built in 2003. Some of the features include hardwood flooring, granite countertops, California style closets, additional lighting, mirrored walls, breakfast bar, new AC unit in 2011, upgraded carpeting, jacuzzi tub, double vanities in master bath, split bedroom plan and so much more. The view of the oceanfront is to die for!$459,000 Call JoAnn Young for access to this oceanfront paradise! 321-243-4917

7th ESB Returning to Camp Pendleton

2011-11-30T08:17:00.000-05:00

By JoAnn Young, Exit 1st Class Realty

This post is more of a personal one. My son, Jacob is a Marine serving currently in Afghanistan scheduled to come home soon. One of the Marine parents in our unit wrote this cute poem for their homecoming.

‎'Twas the night before Returning to Camp Pendleton, when all through the camp Not a Marine was stirring, not even a mouse; The weapons were hung by their cots with care, In hopes that the 7th ESB soon would be there; The Marines were nestled all snug in their cots, While visions of their Commander danced in their... heads; And mamma in her 'Wear Red Friday, and I in my cap, Had just settled down ...for that long awaited return. When out on the road there arose such a clatter, We sprang from the bleachers to see what was the matter. Away to the tarmac we all flew like a flash, Turned on the cameras and held up our banners. The sun on the breast of the new-risen day Gave the lustre of mid-day to objects in the distance, When, what to our wondering eyes should appear, But a caravan of buses, filled with many young men, With little old drivers, so lively and quick, we knew in a moment it must be our Marines. More rapid than eagles there coursers they came. Not one dry eye could be seen We all whistled, and shouted, and called them by name; "Now, Justin! now, Charlie! now, Brock and Sonny! On, Michael! on Kyle! on, Justin S., Tylor, Cameron and Dennis! To the tops of the mountain ! to the top of the wall! Now dash away! Dash away! Dash away all!" As dry leaves that before the wild hurricane fly, When they meet with an obstacle, mount to the sky, So now you are Free , Free, from your brave service you gave!! Now may God guide you and all who serve!!!!!!! "Merry Christmas to all, and to all a good-night."

By Roland Nelson

Foreclosures Increase in Palm Bay, Melbourne, Titusville

2011-11-28T18:30:00.001-05:00

Nov. 28, 2011 – Some housing markets are still battling high numbers of foreclosures that continue to put downward pressure on overall housing prices. Many cities facing the highest foreclosure spikes also have high unemployment rates, underwater borrowers and low median family income.

24/7 Wall St., using data from RealtyTrac, found that the following cities saw the biggest increases in foreclosures – 30 percent or more – between the second and third quarters of 2011:
6 cities where foreclosures are increasing are:

1. Albuquerque, N.M.
Quarterly increase in foreclosures: +151%
Number of foreclosures in third quarter of 2011: 1,358
Percentage that home values have dropped from peak: -14.9%

2. Boston-Cambridge-Quincy, Mass.Quarterly increase in foreclosures: +67%
Number of foreclosures in third quarter of 2011: 2,003
Percentage that home values have dropped from peak: -15.8%

3. Sarasota-Bradenton-Venice, Fla.
Quarterly increase in foreclosures: +57%
Number of foreclosures in third quarter of 2011: 1,673
Percentage that home values have dropped from peak: -51.4%

4. Cincinnati-Middleton, Ohio-Ky.-Ind.Quarterly increase in foreclosures: +55%
Number of foreclosures in third quarter of 2011: 1,956
Percentage that home values have dropped from peak: -15.9%

5. Jacksonville, Fla.
Quarterly increase in foreclosures: +49%
Number of foreclosures in third quarter of 2011: 2,559
Percentage that home values have dropped from peak: -39.3%

**6. Palm Bay-Melbourne-Titusville, Fla.
Quarterly increase in foreclosures: +44%
Number of foreclosures in third quarter of 2011: 1,039
Percentage that home values have dropped from peak: -53.4%

Source: “10 Cities Getting Slammed by Foreclosures,” 24/7 Wall St. (Nov. 11, 2011)

If you are looking for houses in foreclosure for sale or foreclosed homes for sale, call JoAnn Young for a list of homes emailed to your inbox today. 321-243-4917 or email me here

Information for Homeowners Facing Foreclosure

2011-11-28T14:50:00.002-05:00

By JoAnn Young, Exit 1st Class Realty
In January 2010, the Supreme Court of Florida passed a law that requires all residential home loans that are in foreclosure to go through mandatory mediation. Mediation is a process where the note holder and the owner of the property can discuss alternatives to foreclosure. Alternatives include the following:

1. Refinancing which requires the owner to have good enough credit and to show an ability to pay back the loan under the new refinancing terms. Additionally, the Making Homes Affordable Program (HAMP) has a division makes provisions for a debtor to refinance at a reduced interest rate and the government secures the loan. If you are able to refinance and you want to stay in your home, that is the way to go.

2. Deed in lieu of foreclosure is an agreement between the debtor and the bank or note holder where the owner agrees to surrender the property and the bank agrees not to pursue a judgment against the borrower. A judgment in excess would be the difference between what the foreclosed home sold and what the bank is owed, including late fees, interests and attorney fees. It is not uncommon for an owner to owe hundreds of thousands of dollars after a foreclosure process.

3. Short sale is an agreement between the owner and a bank that if the owner sells the home for market value, the bank agrees to waive collection proceedings for an excess judgment against the owner. For many a short sale is the best way to escape their losses and stop the bank from foreclosing on the property if credit has already been compromised.

In Brevard County, Florida there are hundreds of houses in foreclosure for sale. Many make the mistake of thinking, "My credit is already trashed, I might as well walk away." What one may not realize is that on top of all the late payments, a foreclosure is then entered into a credit file and lowers the score a vast amount more than the rolling 30's, 60's, 90's and 120 day lates. Meaning each late payment (more than 30 days) lowers a credit score and then enter the actual foreclosure judgment lowers it a huge amount more. It takes a very lengthy amount of time to rebuild credit.
Consider a short sale for the property. If you have any further questions, contact JoAnn Young, Realtor, Exit 1st Class Realty. 321-243-4917, email me

Recent Buccaneer Beach Club Condo Sales

2011-11-15T16:02:00.002-05:00

by JoAnn Young, Realtor Exit 1st Class Realty

Condo sales per unit are up the last three months! Here is just another example of the sales from Buccaneer Beach Condo for August, September and October 2011:

1125 Hwy A1A, Unit 803, Listed at 239,999, Sold at 217,500, closed 9/12/2011, DOM (days on the market)= 249
1125 Hwy A1A, Unit 307, Listed at 246,900, Sold at 238,000, closed 10/12/2011, DOM = 157

1125 Hwy A1A, Unit 302, Listed at 259,900, Sold at 240,000, closed 8/25/2011, DOM = 65 ~Terrific!

If you, a friend or family member is looking for your dream home in Brevard County, FLORIDA, Call JoAnn Young today! I would be honored to be your agent of choice! 321-243-4917, or email me here.
*Information is compiled from the Brevard MLS as of 11/15/2011.

Recent Sales for Somerset Oceanfront Condos

2011-11-15T15:28:00.004-05:00

By JoAnn Young, Realtor, Exit 1st Class Realty, Melbourne, Florida
The following are the recent sales for Somerset Oceanfront Condos:

2075 Hwy A1A Unit 2703, Listed at $389,000, Sold at $379,000 Closed on 8/1/2011, DOM (days on the market) = 2 WOW!

2075 Hwy A1A Unit 2202, Listed at 419,900, Sold at 390,000, closed 9/15/2011, DOM = 55 - NOT BAD!

2075 Hwy A1A unit 2402, Listed at 449,000, Sold at $440,000, closed 10/7/2011, DOM = 369 - A little over a year to get the price!
If you, a friend or a family member is interested in purchasing a beautiful condo like Somerset, please call JoAnn Young, Realtor, Exit 1st Class Realty, 321-243-4917 email me! I would be honored to be your real estate agent for your FLORIDA dream home!
*Information compiled from the Brevard MLS.

Stats of Home Buyers and Sellers for 2010

2011-11-14T18:37:00.000-05:00

When making consideration to sell your home, here are a few valuable stats from National Association of Realtor’s 2010 Profile of Home Buyers and Sellers:

• The typical home buyer will search for homes for 12 weeks and view 12 different homes during the homebuying process.

• 83 percent of buyers purchased a home through a real estate agent.

• The typical sellers lived in their homes for 8 years.

• 88 percent of sellers were assisted by an agent with their transaction.

• Homes sold through a real estate agent sold for 96 percent of the list price.

• The typical home is on the market for eight weeks.

• 50 percent of recent home buyers were first-timers.

• The typical first-time home buyer was 30 years old.

• Repeat buyers were 49 years old on average.

• One-third of recent home buyers indicated their primary reason for purchasing was a desire to own a home.

• 20 percent of recent home buyers were single females; 12 percent were single males.

Call JoAnn Young for your FLORIDA Dream Home! 321-243-4917, email me!

How's the Market for Oceanfront Condos In Brevard County?

2011-11-13T16:55:00.002-05:00

By JoAnn Young: Realtor, Exit 1st Class Realty

As a Realtor we are asked frequently, "How's the real estate market?" The answers to that question is just not that simple. There are answers that are just as broad as the question! For Brevard County it is even more broad. The county we live in is the longest in length of miles along the eastern coast. There are several markets to choose from when answering this question. I have chosen to answer what I know about the market for Oceanfront Condo properties.

I've taken the liberty to track results of sales from August, September and October 2011 and compare them to the the same months the prior year. These months are all "off-season" for Brevard County. The information is complied from the Multiple Listing Services from the Melbourne Area Board of Realtors as of 11/13/2011.

First, let's start with August 2010 and compare with August 2011. In August 2010, there were a total of 20 Oceanfront condo units sold compared to 25 in 2011. That is an increase of 25%

In September 2010 there were a total of 16 units sold compared to September 2011's 29 for a surprising increase of 81.25% of units sold !

Finally let's look at October 2010 with a total of 21 Condo units sold and now compare to 30 units sold in October 2011. The increase for the month of October is 42.9%!

The amount of units sold per month has increased on all three of the most recent months of sales from 2010 - 2011 and these increases take place in "off season". WOW!
The average days on the market for all three months is about 161 days.

What would a buyer expect to pay for an Oceanfront Condo in this market? Much depends on what the seller has to offer as far as price, ammenties, upgrades i.e. granite, hardwood flooring, crown moulding, newer cabinets, the age of the building, location of the Condo, parking, whether the property is a short sale or foreclosure.

If you are interested in purchasing or selling an Oceanfront Condo and would like more sales data, call me for a free market analysis.
JoAnn Young, 321-243-4917, or email me at JoAnn@JoAnn@MyFLDreamHome.com.

EXIT 1st Class Realty

2011-11-05T21:02:00.001-04:00

I am pleased to announce that I now am part of a new real estate team.
EXIT 1st Class Realty at 4865 N. Wickham Rd. Melbourne, FL 32940. EXIT is a fast-growing office in Brevard county. I am excited for the possibilities to be able to help more buyers and sellers in Brevard County, Florida. I look forward to expanding my work experience and professionalism.
I hope to see you soon!
JoAnn Young - Real Estate Sales Associate
321-243-4917

Avoid the Money Pit. Get an Inspection!

2011-10-26T07:44:00.000-04:00

Buying a home that turns out to need more expensive repairs than originally thought is only funny in the movies. In real life, buying a money pit can nearly drive a new homeowner to lose their mind - and their shirt.

There are a number of strategies that buyers can act on to prevent their home-buying process from turning into a lemon of a purchase. Here are 5 of steps that will help you avoid buying a money pit:

1. Attend Inspections. Rely on your Realtor when you’re buying a home. You should continue attending your home, pest, roof or other specialty inspections on your own personal to-do list. When you’re there in person, the inspector is able to physically show you the items that may need repair, and give you a professional opinion of how serious the repairs may actually be that a written report may lack.

Sometimes, written inspection reports convey minor items, like reversed hot and cold faucets as a red-flagged health and safety issue, and more major items, such as a cracked foundation as something that needs further inspection. If you are at the inspection in person, you can brief the inspector on what level of cost and effort you consider major and ask them to help you understand roughly where the property overall and any individual repairs needed fall.

2. Read the Reports and Disclosures. Attending your inspection is just the first step. Reading the inspectors’ reports is critical to avoiding a money pit - both the reports generated by your own inspectors, and any reports and disclosures provided to you by the seller. Things to watch for and investigate further in the sellers’ reports and disclosures include:

repairs the seller completed themselves,
repeated repairs to the same system,
water and leakage issues, and
any reports of non-functioning mechanical or other systems in the home.

In your inspectors’ reports, make sure to notice:

repair estimates they offer,
items that will have to be completed soon (versus upgrades you can do over the long run)
items that seem like they might run into big ticket dollar amounts, and
especially watch for any recommendations that you get a specialist to look at something - some of the largest potential repairs are often dealt with in this way by a property inspector.

It is to your advantage to follow up on your reading of reports and disclosures by working with your real estate agent to:

list your questions and concerns,
ask the inspector(s) and seller any follow-up questions you have,
obtain follow-up inspections (including obtaining an extension of your inspection contingency, if needed) and
obtaining reliable repair estimates.

3. Get Multiple Repair Bids. While your pest, roof and other inspection specialists may offer you a repair cost estimate with your report, most property inspectors do not. Money pits often occur when buyers take a place knowing it needs what they thought was a little work, that actually turns out to be a much more costly repair.

Get multiple bids from reputable contractors while you are still within the inspection contingency time frame of your contract. These estimates can also provide a basis for any renegotiation between you and the seller for price reduction, repairs or increased closing cost credits.

4. Stop Overconfidence In Its Tracks. Unless you are a construction professional, all but the most minor home improvement or repair projects tends to take more time and money to do yourself than you expected. Even if you expect to cut costs by doing some work yourself, contact and obtain bids on the repairs and upgrades you plan from actual professionals. You can at least be armed with the information about what it will cost to get them done if you cannot complete them.

5. Prioritize Price Reductions and Credits over Seller Repairs. Buyers will select their own materials and contractors with more care and are more interested in ensuring the repairs are completed to their satisfaction than an outgoing seller. If you are negotiating with your seller over repairs that are needed, discuss with your agent whether it makes sense to ask for a price reduction or a closing cost credit to offset the cost of the repairs. That way you can have them completed to your standards and with the materials and contractors of your choice after closing.

Avoiding the Money Pit is most successful to a buyer when listening and following the advice of the professionals. Realtors and Home Inspectors spend much time in the classroom of experience and in continuing education. Knowledge is the key. We're here to help.

If you are in the market to purchase or sell a home, call JoAnn Papsidero Young. 321-243-4917 or email me here - JoAnn Young I'd love to help in any way I can.

Melbourne Realtor Marries Missouri Man 9-10-11

2011-09-19T20:22:00.001-04:00

Special announcement! JoAnn Papsidero, Realtor with S&D Realty Exchange of Melbourne, Florida married James Michael Young of Louisiana, Missouri on September 10, 2011. The ceremony was held on the Indian River in Melbourne, Florida on the most beautiful day! Even dolphins were in attendance! Jim and JoAnn go way back to college days in Northwest Indiana where they worked on the same Sunday School bus route bringing inner city Chicago children to church. They built a friendship in those days and never expected to cross paths again 26 years later. Jim is a certified property claims adjuster for Eberyl Claim Service and JoAnn continues to own and operate People's First Financial Services and also serves as a local Realtor with S&D Realty Exchange. They will make their home in the Lake Washington area of Melbourne, Florida.
Congratulations Jim & JoAnn! May God bless your marriage and give you many happy and unforgetable memories together!

55+ Communities in Brevard County

2011-05-18T14:15:00.010-04:00

Florida is an equisite place to retire! A tropical paradise with swaying palm trees and warm, sandy beaches. There are many retirement communities with ammenties in Brevard County to suit your lifestyle. The following is a short list of communities & condos to help you in your search:

Melbourne / Viera : Indian River Colony Club, Heritage Isle, Grand Isle, Sun N Greens Condo, Fairways Four Condos, 19th Hole Condo

Palm Bay / Micco / Barefoot Bay: Holiday Park Manufactured Homes, Fairways of Brevard Condos, Snug Harbor Manufactured Homes

Merritt Island: Tropical Cove Condo, Island Village Condo

Cocoa: Northwest Lakes Condo

Rockledge: Carmel Retirement Community, Ameri-cana Resorts Co-Op Manuf. Homes/Mobile Homes
If you are looking for your retirement home and would like more information about purchasing a home in Brevard County, please call JoAnn Papsidero 321-243-4917 or email me JoAnn@MyFLDreamHome.com

Budget Basics

2011-05-11T08:59:00.002-04:00

by JoAnn Papsidero People's First Financial Services, Owner / Principal Broker

The first step to getting yourself into financial shape to buy a home is to know what you make and what you can spend. Seems simple enough but there are items we spend on weekly, monthly, semi-annually & annually that some items may be left off the list of expenses.

First, sit down and write down all of your household income. This to include, Current take-home pay for all family members, child support or alimony, pension and/or social security, disability income, interest / dividend & any other income you are aware of. Total up the monthly income and write it down.

Next, write down all of your expenses that you can think of. Most of us have the same expenses but there may be variations from household to household.

Here are a few to get you started: rent/mortgage, electric, water, gas, groceries, health insurance, disability insurance, life insurance, car insurance, homeowers / rental insurance, car payments, other loan payments, student loans, credit card payments, average maintenance on vehicles, clothing, personal care products, dining out, medical bills, household goods, recreation / entertainment, pool care, hair cuts / salon, child care, pet care & food, education, charitable donations & miscellaneous expenses.
Total up what each item cost you per month. You will have to average your annual expenses and divide by 12 months.

If you have money left over at the end of each month, you can allocate those funds to savings if you do plan to purchase a home in the future. If you do not have funds left over at the end of each month and you still have expenses to pay, you will need to trim your spending starting with the not-so-necessary items first.

This is also a great way to see how much money you can apply to credit card debt or car loans each month without worrying about paying down too much or too little.
It is always a good idea to get control of your money, manage it & manage it well!
For more infomation regarding obtaining a mortgage, buying a home or budget basics, call JoAnn Papsidero 321-243-4917 or email me.

8 Steps to Getting your Finances in Order to Buy a Home

2011-04-23T13:11:00.010-04:00

Many times people believe that good credit is enough to get a home loan. The following are so helpful steps to get you on track to buying your Florida Dream Home!

1. DEVELOP A FAMILY BUDGET. Instead of budgeting what you'd like to spend , use receipts to create a budget for what you actually spent over the last six months. One advantage of this appraoah is that it factors in unexpected expenses, such a car repairs, illnesses, etc., as well as predictable costs such a rent.

2. REDUCE YOUR DEBT. Generally speaking, lenders look for atotlal debt load of no more than 36% of your income. Since this figure includes your new mortgage payment, which typically ranges between 25% to 28% of your income, you need to get the rest of installment debt, credit card debt, student loans down to between 8% - 10% of your total income.

3. GET A HANDLE ON EXPENSES. You probably know how much you spend on rent and utilities, but little expenses add up. Try writing down everything you spend for one month. You'll probably see some great ways to save.

4. INCREASE YOUR INCOME. It may be necessary to take on a second, part time job to get your income at a high enough level to qualify for the home you want. In order to use this income, you must have been on the part-time job at least two years.

5. SAVE FOR A DOWN PAYMENT. You can get a better interest rate and avoid mortgage insurance if you put at least 20% down on a home.

6. CREATE A HOUSE FUND. Don't just plan on saving whatever is left toward a downpayment. Instead decide on a certain amount per month you want to save, then put it away as you pay your monthly bills.Advice I give to my customers is to pay their savings account monthly just like another bill. Or put away the difference between their rent and what a new mortgage payment would be each month for a year to see if they can handle making larger payments.

7. KEEP YOUR JOB. While you don't need to be in the same job forever to qualify, having a job for less than two years may mean you have to wait until after that two year mark to apply.

8. ESTABLISH A GOOD CREDIT HISTORY. Get a credit card and make payments by the due date. Do the same for all your other bills. Pay off the entire balance promptly. Another word of advice is do NOT let others use your credit aside from a spouse. You are responsible for your credit & making your payments, not someone that you let use your credit card to "borrow" and pay you back. Remember the person who signs the agreement with the creditor is YOU. this applies to car loans, credit cards, utilities, rental companies & leases.

Homeownership is a big step. Getting your finances in order and preparing NOW will help you avoid problems & roadblocks later.

Compiled by JoAnn Papsidero - Realtor & Mortgage Broker Brevard - 321-243-4917 or St. Lucie 772-237-6218 Email JoAnn for more information!

RECENT SALES IN PORT ST. LUCIE & MELBOURNE FLORIDA

2010-10-26T09:43:00.004-04:00

In the month of October, JoAnn Papsidero has had the pleasure of assisting in 3 sales in Port St. Lucie, Florida and 1 in Melbourne, Florida!

2697 Altamira

Assisted Sales Port St. Lucie:

2533 Cooper Lane, Port St. Lucie, FL $102,500

2697 SW Altamira Ave, Port St. Lucie, FL $96,000

938 SW Connecticut Terr., Port St. Lucie, FL $87,000

Listing in Melbourne:

2476 Wolf Creek Dr., Melbourne, FL $140,000

What a great month it has been! Call or email JoAnn to buy or sell your next home. She will get the job done! In St. Lucie County call 772-237-6218. In Brevard County call 321-243-4917

Real Estate Associate of S&D Realty Exchange Inc.

Your Dream Home! Country Living in Town! Desirable Kingsmill Subdivision / Melbourne, FL

2010-09-20T20:12:00.007-04:00

NO LONGER LISTED
NEWLY LISTED!!! Kingsmill Beauty! $189,000 - 1925 sq ft under AC, Total under roof - 2837

OWNER NEEDS AN OFFER!!!!!!!
4 Bedroom 2 baths and a Sparkling Pool!!! 2574 Kingsmill Ave, Melbourne, FL 32934

Asking price: What a great deal with a pool & a fireplace on a nice lot in Melbourne west of Wickham Rd! The lowest priced home in the subdivision for the square footage! WOW!

Oaks that provide ample shade in the summer to keep this house nice & cool. Sparkling swimming pool with an attached heated Spa with a large covered back porch with two new Hampton Breeze ceiling fans.

Pool and Spa fully screened in.

The Galley Kitchen has lots of cabinets, appliances replaced in 2003, Electric self-cleaning range is a ceramic cooktop with a built-in microwave overhead. Kitchen also has a pantry, side by side refrigerator w/ ice and water in the door, dishwasher, garbage disposal, large deep, double sink with newer faucets. Also has a breakfast bar with an eat-in kitchen area. Pass thru window to the back patio. The kitchen area has been recently painted.

Both bathrooms were remodeled in 2004 with upgraded Maple cabinets, 18" tile & new countertops. The above photos is the Master Bathroom. The master Bathroom has two wak-in closets "his and hers" with plenty of storage room and additional shelving. Two upper cabinets over the vanity have also been added for more storage.

Very Large Master Bedroom - TheMaster Bedroom has a sliding glass door exit to the pool area. All 4 bedrooms have a "wood-look" 18" tile, plantation style blinds that will stay.

All 4 bedrooms have Hunter ceiling fans & light kits

The Family Room boasts a cozy wood burning fireplace, ceiling fan with light kit, volume ceilings

Wood look tile floors in all 4 Bedrooms Guest Bedroom

Formal Living Room w/ plant shelves Formal Dining Room

Main Bathroom

Backyard area behind pool / Crepe Myrtles / Maple / Hibiscus / Jasmine /Producing Pink Grapefruit Tree

Indoor Laundry Room with tons of cabinet storage

House Floor plan

Other amenities include, Brand new 8 x 10 vinyl shed, Privacy fenced backyard. There is a private well for a sprinkler system, lots of tropical landscaping. Construction is concrete block and stucco, freshly painted exterior, hurricane panels included for all windows, Tinted windows. Three sets of sliding glass doors all lead to back patio and open up in cooler weather to let a beauiful eastern breeze in. Storm door on front exterior door. Side entrance utility door to garage recently replaced. AC system was replaced in 2002, new garage door opener in 2004, NEW ROOF dimensional shingles 2004, Central Air Conditioning, Gas hot water heater and heating. All Appliances stay. Smoke free & clean home.

Relaxed HOA $135 annually. The subdivision has two playgrounds / parks. 2009 real estate taxes $2049.32, Home Owner's Insurance with wind mitigation report runs $1200 annually. Home built by Maronda Homes in 1987. Pool added on in 1995.

Much care has been taken with this home and has been lovingly maintained for the last 8 years. It is ready for a new owner to move right in!
Call or email Florida Realtor & Home Owner - JoAnn Papsidero -
321-243-4917
S&D Realty Exchange Inc. Melbourne, FL

2476 Wolf Creek Dr. Melbourne, FL

2010-06-15T13:44:00.007-04:00

SOLD!!!! - 10/28/2010
2476 Wolf Creek Dr. Melbourne, FL 32935

$140,000

4 bedroom 2 bath 2 car garage spacious family home w/ a large backyard! Built in 1997 Holiday Buildres Biscayne Medallion Model. Home features a split bedroom plan, fireplace, laminate and tile flooring, freshly painted inside & out, new AC unit and compressor, freshly painted insude & out, eat-in kitchen, berber carpet in bedrooms.

Master bath has garden tub and double sinks, walk-in closet, new water heater 2009, new dishwasher 2010, appliances: refrigerator, dishwasher, microwave, range, garbage disposal, garage door opener, new sprinkler pump. Plenty of room for a pool in the big backyard.

Within walking distance to shopping, local schools. In desirable Lansing Ridge subdivision, mature trees, sidewwalks. HOA fee $120 annually. Taxes for 2009 were $1656.12. Total living sq ftg 1900, under roof 2321. The seller is ready for an offer on this beautiful move-in-ready home! Make this your home today! This is not a short sale or foreclosure.

More pictures available upon request. Email JoAnn@myFLdreamhome.com. Property listed with S&D Realty Exchange. Realtor, JoAnn Papsidero. If you need help with pre-qualifying for a mortgage to buy this house or any house, call People's First Financial Services, Melbourne, FL 321-253-0390 or apply online at http://www.peoplecomefirst.net/

Brevard County Properties Coming Soon!

2010-05-14T20:14:00.004-04:00

Soon I will be marketing Brevard county properties. If you know someone in the local area that needs to sell their home as a resale, short sale of pre-foreclosure, pass my name and number along to them and direct them to this site. I am ready, willing and able to help fellow Brevardians buy and sell!
JoAnn Papsidero
S&D Realty Exchange, Inc.
2299 Sarno Rd/, Ste A
Melbourne, FL 32935
321-243-4917 - my cell

New listing! 1831 Alberca Lane, Port St. Lucie, Florida 34953

2010-02-20T12:37:00.008-05:00

Beautiful Home For Sale! SOLD! FOR 119,000 - SHORT SALE

1831 SW Alberca Lane

Port St. Lucie, FL 34953
$129,000

This home was built in 2007 by Renar Homes. It is the Grand Hibiscus 4 Bedroom model with 1960 sq ft of living space and 2494 sq ft total under roof. This home is located in a quiet neighborhood just south of Crosstown Parkway off California.

The home features a formal Living Room/Dining Room combination at the entrance way of the home.

There is a spacious eat-in kitchen with a pantry, plant shelves, snack bar, smooth top range, dishwasher, built-in microwave, oak cabinets, indoor laundry room, family room, split bedroom floor plan, garden tub, separate glass shower,double sinks and a linen closet in the master bathroom.

The main bathroom of the home has access from the hallway as well as the front bedroom. The master bedroom has an L-shaped, deep walk-in closet. There are 4 ceiling fans, 7 smoke detectors. The garage door is FL building code 2001 with windspeed of 140mph for insurance purposes. Hurricane panels are included with the home. There is also a Manabloc water plumbing system in the garage for blocking off potential whole house water leaks with the turn of a handle.

See floor plan and front elevation below.

Call JoAnn Papsidero 772-237-6218 to see this beautiful home! Seller would like a 24 hour notice prior to viewing in order to have the house in "show ready" condition. This home is a Short Sale. You can also Email me at JoAnn@MyFLDreamhome.com

JoAnn Papsidero P.O. Box 880163 Port St. Lucie, FL 34988

If you do not yet have financing arranged, call me!

Newer Lennar Home for sale in Newport Isles

2009-10-25T14:33:00.005-04:00

SOLD! $104,000 June 15th, 2010
Beautiful Lennar built home in a all newer homes neighborhood. Great floor plan, 1927 Sq Ft. under Air, gated community, clubhouse and pool. Built in 2006. Tile Barrel Roof. Private backyard. Close to local shopping centers New Wal-Mart, Home Depot and Tradition with easy access to I-95 for commuting. 1848 Jamesport, Port St. Lucie, FL near Gatlin Rd I-95 Exit. Currently Tenant Occupied until 2/28/2010 with $1100 income producing per month. This property is a short sale. Please call ahead for viewing. Call JoAnn Papsidero 772-237-6218 or email JoAnn@myFLdreamhome.com

Townhome For Sale

2009-10-25T14:21:00.006-04:00

SOLD for $55,000
12/31/2009
Great Investment Opportunity! Rivergreen Villas, 3 Bedroom, 2 Bath Townhouse with a one car Garage in Lyngate Park off Veteran's Memorial Parkway In Port St. Lucie available to purchase as a short sale. Tile in the Kitchen, Hall, Liv Rm / Dining Combo and Baths. Wood Faux Blinds and verticals on all windows, Entry porch also tiled. Newer Kitchen cabinets and countertops. Pantry in Kitchen. Hurricane Shutters included. 1461 Rivergreen Circle. Rivergreen Villas Homeowner's Association $800 every 6 Months. Association includes Pool, Tennis, Playground, Clubhouse, Lawn Care, Cable, manager on site. Priced to sell at $55,000. This home is a Short Sale. Call JoAnn Papsidero at 772-237-6218 or email at JoAnn@myFLdreamhome.com If you need financing call me!

Annual Credit Report.com

2009-10-01T10:17:00.003-04:00

What is AnnualCreditReport.com?
This central site allows you to request a free credit file disclosure, commonly called a credit report, once every 12 months from each of the nationwide consumer credit reporting companies: Equifax, Experian and TransUnion.

AnnualCreditReport.com is the official site to help consumers to obtain their free credit report.
You get a free credit report and if you want your credit score you can pay a small fee.
Link to AnnualCreditReport.com
Fight identity theft by monitoring and reviewing your credit report. You may request your free credit report online, request your report by phone or request your report through the mail. Free credit reports requested online are viewable immediately upon authentication of identity. Free credit reports requested by phone or mail will be processed within 15 days of receiving your request.

For more information contact JoAnn Papsidero 772-237-6218 or email JoAnn@myFLdreamhome.com

Welcome Buyers!

2009-10-01T10:11:00.001-04:00

When you buy a home in St. Lucie or Martin County, Florida, there's no need for you to worry about the countless details involved in finding and buying a home. It's OUR job to manage these details on your behalf. Yet we know you will have questions.

Many of our clients asked this simple question, "What next?" We are able to answer that question easily, but we realize this process is not a task consumers are faced with every day. That is when we realized we need something available to explain the home-buying process. Answering our clients' questions has been one of our primary goals. With that thought in mind, here are a few simple steps we will take together as you begin the home-buying process:

1. Pre-Purchase Consulting

2. Shopping for Your Home

3. Buying Your Home

Let’s get started!

1. PRE-PURCHASE CONSULTING

Before we actually go out to look at homes, we'll invest some time together so you feel confident about the entire home-purchase process and your choice of us as your REALTOR®.

You'll share with us some information about what you're looking for in a home as well as your concerns about location, transportation, schools, etc. You'll tell us what you do and don't like. We'll identify your "wants" and "needs".

You'll share with us some details about your financial situation, including your income, debts, and cash on-hand. You'll tell me what amount you expect to spend on a monthly mortgage payment, and how much cash you wish to invest "up-front". Together we'll determine the price-range of your next home and what you can qualify for in a mortgage if one is needed.

We'll explain financing options that suit your situation. We'll choose a lending program that fits your needs so you can make application right away.

We'll explain the relationships between home buyers, home sellers and agents. Together, we'll review what you should know about equal opportunity in housing and standard disclosure forms.

2. SHOPPING FOR YOUR HOME

Now that we’ve established what you're looking for and what you can afford in a home, we can get started.

Using the Multiple Listing Services (Innovia®) database and other sources, I'll research homes that are currently available for sale. We'll choose homes that meet your requirements.

We'll make appointments for us to inspect the selected homes at a convenient time, and we'll point out their assets and drawbacks as we go through each home.

When you see a home you like, we'll estimate your closing costs and monthly payment.

We'll conduct the necessary research to determine answers to your questions about the homes and communities we inspect, and provide them to you in a timely manner.

If none of the homes we inspect satisfy your requirements, we'll discuss options such as adjusting your "wants" and "needs" or simply waiting for other homes to come on the market. We'll begin this step again another day - as many times as it takes to find the right home.

3. BUYING YOUR HOME

When you choose a home, we'll represent your best interests in negotiations and follow-up.

Using standard Florida forms, We'll prepare a Contract of Sale or an “offer” if you will and all related paperwork on your behalf and explain your rights and obligations to you. (However, keep in mind that we are not attorneys, and our explanation is not a "legal opinion.")

I'll advocate strongly for you with the property owner and the owner's agent, and help you evaluate any counter-offer.

After you and the property owner reach agreement and initial any changes to the Contract of Sale, we begin to co-ordinate home inspections.

We'll notify the property owner of any discrepancies within the proper time frame.

We'll follow-up with the Inspector(s), Listing Agent, Lender, Surveyor and Settlement Company to assure that all contract conditions and all deadlines are satisfied.

In the meantime, there are some things you need to do: Contact an insurance agent to make arrangements for a hazard insurance policy for the correct amount of coverage, confirm that you have provided all requested documentation to your lender, notify all utility companies, and obtain a certified or cashier's check in the amount determined by the settlement company.

We'll accompany you to settlement (closing), review the settlement sheet, and advocate strongly for you if there are any disagreements.

Then, we'll proudly hand you the keys to your next home.

Whether you're relocating around the world or just moving across town, I'll handle the details of your home purchase so you don't have to. I consider it a privilege to help you through each of these steps so together we can create a real estate success story for you and your family!

Thinking of Buying a Home? Call JoAnn Papsidero Srein today! 772-237-6218 or email JoAnn@myFLdreamhome.com

Top 10 Mistakes of First-Time Homebuyers

2009-10-01T10:08:00.001-04:00

Buying a home may seem like a huge task, but a little preparation will ease the way. Be aware that buying a home comes with plenty of potential missteps. Here are 10 all-too-common mistakes first-time homebuyers make:

1. Not knowing how much house you can afford.
Many novice homebuyers spend a lot of time researching homes — comparing kitchen layouts and backyard square footage — but very little time researching their financing options. One of the first things buyers should do is talk to a qualified lender or broker and get pre-approved for a mortgage. Without first figuring out how much house you can afford, you risk falling in love with one you can't.

2. Assuming foreclosures are great deals.
Just because the previous owner owed $450,000 on a house before the bank took it over doesn’t mean it’s worth that much now. Values have slipped significantly. You may not be getting the bargain you think with a foreclosure. Also, most homes owned by lenders or banks have been sitting vacant for months and may have been vandalized. That could require extensive renovation or repair. Weigh the costs of fixing up the property against the savings you’ll likely reap by buying a lower-priced foreclosed home.

3. Letting your true feelings show.
No matter how much you've fallen in love with a house, don’t let the seller’s agent in on it. Otherwise, he will gain the upper hand in negotiations.

4. Failing to find a good buyer's agent.
Landing a mortgage is tough these days. So buyers should rely heavily on knowledgeable agents to help them get their finances in order. After all, buyer’s agents have a fiduciary responsibility to the buyer exclusively — and should be looking out for his best interests. Or consider using an agent recommended by a relative or friend. Interview the candidates about their experience; ask if they’ve worked with first-time buyers before and what kind of service you’ll get from them.

5. Underestimating the costs of owning a home.
Whether it’s a rusty pipe or a leaky roof, things go wrong and need to be fixed. Many homebuyers don't anticipate the additional costs for repair and maintenance, or for an increase in utility costs. Consider the age of your new home and how well it’s been treated by the previous owners in your budget. Be prepared to set aside a small percentage (1% at most) of the home’s purchase price annually for repairs and upkeep.

6. Failing to budget for property taxes.
Property taxes — and the likelihood that they’ll climb over the course of your time in the house — should be factored into any homebuying budget. To get an idea of how much you’ll be paying, call the local tax assessor’s office or talk to people in the neighborhood.

7. Assuming your first offer will get accepted.
As home prices get even more affordable, competition is bound to heat up. You can’t assume you’ll walk in there, make the offer and get it.. Try not to get discouraged if you lose out on the first — or second — house you make an offer on.

8. Skipping the inspection.
Before signing anything, hire a professional inspector. The seller isn’t likely to tell you there’s mold or the walls are poorly insulated. Buyers should hire their own inspector. You can find inspection companies in the phone book, or by doing a simple Web search with your ZIP code.

9. Doing too much too fast.
Some buyers want to make the house their own right away. They overextend themselves on credit to do so, and assume the improvement will pay for itself by increasing the home's value. But that’s not always the case. Instead, buyers need to exhibit patience and make changes over time.

10. Failing to include a contingency clause in the contract.
A mortgage financing contingency clause protects you if, say, you lose your job and the loan falls through or the appraisal price comes in over the purchase price. Should one of these events occur, the buyer gets back the money he used to secure the property. Without the clause, he can lose that money and still be obligated to buy the house.
Thinking of buying a home? Call JoAnn Papsiderro Srein 772-237-6218 or email JoAnn@myFLdreamhome.com

Seller's Moving Checklist

2009-10-01T10:04:00.001-04:00

You may want to print this checklist to help plan your move.

Two months prior to moving day

If you plan to use a mover, request estimates now.

If you plan to move yourself, obtain costs from at least two truck rental companies.

Create a floor plan of your new home for furniture and appliance placement.

Make an inventory of your household goods and begin to remove clutter.

Start a file for all your moving paperwork (estimates, receipts, etc.).

Arrange to transfer school records.

Choose a mover (or truck rental company).

Set aside your financial records, in case you need them for your home loan application
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Six weeks prior to moving day

Obtain and fill out post office change-of-address cards.

Subscribe to the paper in your new hometown to learn more about your new community Make arrangements for storage if necessary.

Make arrangements for storage if necessary.

Ask your doctor or health plan provider for referrals, and obtain all medical records.

Have antiques, pieces of art, and other valuables appraised.

Clean all closets and drawers.

Start using foods and cleaning supplies that cannot be moved.
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Four weeks prior to moving day

Schedule disconnection of all utility services at your old home, and connection of them at your new one. Be sure to disconnect the day after you leave and connect the day before you arrive. If you have "last month" deposits with services, such as the telephone company, request your refund.

If you are moving yourself, reserve a rental truck.

If you are packing yourself, obtain packing materials and start packing items you won't need until after you arrive at your new house. See our Packing Tips.

Arrange for cleaning and repair of furniture, drapes, and carpeting.

Arrange for special transportation of your pets and plants if necessary.

Check with your insurance company to see how your possessions are covered during transit.

Make any travel plans necessary for your move.

Check to see if you need any moving permits.

Plan your moving sale. Remember to check with local authorities about restrictions.

Collect your important records -- Gather personal and family records, including medical and dental, veterinary and school records; legal and financial documents; birth certificates, passports and insurance documents.
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Three weeks prior to moving day

Properly dispose of items that cannot be moved, such as flammable liquids, plants, paint, and liquor.

Prepare auto registration for transfer (if moving to another state).

If you are moving in or out of a high-rise building, arrange for use of the elevator.

Make child-care arrangements for moving day.

Hold your moving sale.
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Two weeks prior to moving day

Arrange for disposal of anything not sold at your moving sale.

Service your car in preparation for the move. If you're moving from a warm climate to a cold one, check your antifreeze.

Return any borrowed items (including library books) and retrieve any loaned items.

Cancel newspaper delivery.

Notify any creditors of your move.

Transfer prescriptions and be sure you have an adequate supply of medications on hand.

Assemble a file folder or notebook of information to leave for the new owner of your home.

Change your address - One week before your move, send change-of-address cards to everyone who will need to contact you.

Pick up laundry/dry-cleaning -- Laundry tickets are easy to misplace, so ask for your things by name and not just by the receipts you have.

Pack a travel kit: Put aside critical items like a checkbook, credit cards, personal phone book, ID, flashlight, keys, toiletries, tools, paper plates, cups, towels, travel alarm clock, aspirin, bandages and games for the kids. Also, pack a suitcase with clothing and other personal items.
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One day prior to moving day

Transfer your bank accounts.

Take animals to vet for immunization, if necessary.

Close and empty your safe-deposit box.

Settle any bills with local businesses.

Drain power equipment of oil and gas. Drain water hoses.

Find new homes for plants that will not be moved.

Confirm any travel reservations.

Drain your waterbed.

Defrost refrigerator and freezer, propping doors open.

Let movers pack your belongings (unless it's a do-it-yourself move).

Disconnect and prepare major appliances for move.

Set aside anything that will travel in your car so it will not be loaded on the truck.

Pack a box of items that will be needed first at the new house. Clearly mark this box "Load Last."

Obtain cash or traveler's checks for the trip and to pay the movers.

Confirm arrival time of your moving van/truck.

If moving yourself, dismantle beds and other large furniture.
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Moving day

If using a mover, be sure someone is at the old house to answer questions.

Note all utility meter readings.

Read your bill of lading and inventory carefully before signing. Keep this paperwork in a safe place.
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Delivery Day - be on hand to answer any questions.

Check your belongings carefully and note on the inventory paperwork any damaged items.

On an interstate move, be prepared to pay the driver before your possessions are unloaded.

Oversee unloading and unpacking.

Be prepared to pay your mover with cash, certified check, or traveler's checks unless other arrangements have been made in advance.

For more inforamtion contact JoAnn Papsidero Srein 772-237-6218 or email JoAnn@myFLdreamhome.com

Settlement – FAQ’s

2009-10-01T09:55:00.001-04:00

When you finally have a contract and the Buyer's finaning is completed or the funds are in place, we are ready to go to closing or "SETTLEMENT". The following are some frequently asked questions related to closing and settlement:

Who selects the title company?
You may remember that you selected the title company when you purchased your home. Now your buyer will have that same privilege. In rare cases, the home seller will try to influence the choice of Title Company for one reason or another, but the homebuyer usually makes the final decision. Yet the title company does not represent the buyer – it is a “disinterested third party” who handles paperwork and funds on behalf of all parties to the transaction to facilitate the transfer of real property.

What should I expect, as the home seller?
The choice of title company usually has little or no impact on home sellers because closing costs associated with settlement are negotiated in the Contract of Sale. Paperwork signed by the seller is minimal – the deed, HUD-1 settlement sheet, and possibly a few incidental forms required by the lender or title company. Home sellers spend most of the time during settlement watching and listening as the settlement officer goes over paperwork with the buyer.

What does the title company do?
The days between receiving a copy of the contract and settlement are busy ones for the title company. First, they order a history of the title from the land records of the jurisdiction in which your property is located; they request a payoff from your lender so your current loan can be paid off from the proceeds of sale; they contact the new lender to obtain instructions for closing the new loan. Once all this data is collected, it will be assembled and reviewed by a staff member. In most cases, this process is very routine.

Occasionally, a discrepancy or problem will be noticed, and the title company will attempt to resolve it before notifying the buyers, sellers or agents. If you are contacted about a settlement issue, it is essential for you to provide any assistance you can to resolve the matter. You may be requested to provide a copy of the settlement sheet from your initial purchase and any refinancing, as well as your title insurance policy. Be sure to keep this information out when you start packing for your move.

Remember that the title company relies upon many entities for information, and everything they do is based upon this third-party information. Until they receive instructions from the new lender, a payoff from the current lender, a lien certificate and judgment report from the county, water bill from the utility company and other information needed for the HUD-1 settlement sheet, the title company cannot provide an estimate of anyone’s closing costs or net proceeds. It is entirely possible that these figures will not be available until hours, or even minutes, prior to settlement.

When will settlement occur?
Settlement normally occurs during the business day, so the current and new lender can be reached if any issues arise during settlement. It is in everyone’s best interest to accommodate this schedule to avoid unnecessary complications or delays.

For more information contact JoAnn Papsidero Srein 772-237-6218 or email JoAnn@myFLdreamhome.com

Appraisals

2009-10-01T09:50:00.001-04:00

What is an appraisal?
An appraisal is an estimate of a property’s value, prepared by an independent third party. Mortgage Lenders generally require an appraisal as a condition of approving the loan.

Who pays for the appraisal?
In most cases, the borrower will be responsible for the cost of the appraisal. If the purpose of the loan is to purchase property, the buyer may need to prepay this cost at the time of application.

How does the appraiser determine the value of property?
There are several factors in determining the market value of property. The biggest and single most important is the use of comparable sales or "comps." These are homes that are fairly similar to your home in size, location and amenities/upgrades. The appraiser will try to locate three comps that sold within one mile and within the last three to six months from the time of inspection. They will use these comps as a starting point and make adjustments to each sale for the differences between your property and each of the comps. They are trying to determine what the home would have sold for had it been exactly like this home. When this is completed, he/she will determine the final value estimate and turn the report over to the lender.

If you are selling your home, the buyer's lender will chose their own appraiser and you have little power in this situation, except to decide to have an appraisal done BEFORE you place your home on the market. This is perhaps the wisest thing you can do for yourself. The appraisal fee is worth it many times over to not to make a several thousand dollar mistake on the pricing and marketing of your home. Contact an appraiser, hire them to appraise your home and then you can use that appraisal in your marketing package. This helps to discourage "low ball" offers, as you can present the appraisal as proof of value, from an objective third party who has no vested interest in your home. This is especially helpful if you have a home that is not typical for the area, as noted above (ocean, lake, acreage, custom home, etc.)

Other items the appraiser looks for is the condition and working order of your main working systems such as plumbing, electrical, appliances, heat and air, etc. If you are on a septic tank, they check the yard to make sure there is no evidence of malfunction or backing up, which would show up in your yard.

If you have a 1 bed 1 bath home and it is not common in the area to have a 1 bed 1 bath home, comparable sales may be hard to find and will likely be homes of lesser value due to the room count. Therefore, your appraised value could suffer. There is a section on the market grid of the appraisal report that addresses design and appeal and if you have the only log home in an area that has all traditional 4 bed 2.5 bath homes, most appraisers will subtract thousands of dollars off your appraised value for this unique home.

If you are purchasing a home, you have a choice of having the appraisal done after you put together a contract on the home. Make sure that the sales contract says: "Purchase contingent upon the home appraising for at least the contract price or above". You want to make sure that it is worth what the seller is asking for the property. This will save yourself and the seller a lot of headaches later if value is a problem.

How much does this cost?
The cost for an appraisal of a single-family home ranges between $350 and $500. This fee may vary, depending upon the price of home, if it is waterfront or an irregular shape, or if it is an income-producing property. If this is or will be a rental property, the lender will most likely require two additional forms that address rent information. These forms generally cost an extra $75 to $250, depending on the location of the property and whether or not there is an abundance of rental data available to the appraiser. Some unique properties (i.e. waterfront or acreage) may also carry an extra premium.

If I pay the appraiser, why does the report go to the lender?
The appraiser works for whoever orders the report, not whoever pays for the report. Appraisers are independent third parties and usually not affiliated with a lender in any way. Even though the buyer or property owner may pay for the appraisal, the report will go to the lender, if the lender places the order for it.

What if I decide to use another mortgage company after the appraisal has been completed?
This does not necessarily mean that you would have to pay for another appraisal. Your first lender could assign all rights to the appraisal over to your new lender. Some appraisal firms may charge a small fee for this because there usually is a need for reprinting and packaging the report in the new lender's name. However, the fee will be nowhere near the cost of a new appraisal. If the lender orders the appraisal, then the appraiser is looking out for the lender’s best interests. Frankly, this is also to the borrower’s advantage. No one wants to pay $100,000 for a home that really is only worth $90,000. The appraiser is a disinterested third party to the transaction, yet provides benefits to all involved parties. This is one cost of the transaction that is well spent.
For more information contact JoAnn Papsidero Srein 772-237-6218 or email JoAnn@myFLdreamhome.com

Evaluating Offers on Your Property

2009-10-01T09:46:00.001-04:00

After weeks of preparing your home you finally get that phone call you’ve been eagerly waiting to receive. “There’s an offer on your home!” There are a number of issues to consider when you evaluate any offer on your property:

Price
Price is always the first thing that homeowners want to know about an offer. How close is the offer to your asking price? Remember, the bottom line is actually more important than the sale price. For that reason, estimating your net proceeds is an essential element when considering whether to accept any offer. Price is not always the sole determining factor. Consider two identical homes, in the same neighborhood, that have sold for $155,000. One sold at that price with no concessions from the seller. The other seller agreed to replace the air conditioning unit, paint the downstairs, and cover the first $2,000 of the buyer's closing costs. You may also wish to consider the strength of the market – ask yourself how likely it is that another buyer with a “perfect” offer is just around the corner.

Contingencies
Almost every home purchase contract has some contingencies, and many of these are fairly reasonable. Many of the contingencies depend on the seller’s particular needs. It's important to consider the potential impact of these conditions. It may be advisable to accept a lower price with few contingencies over a higher figure with a large list of conditions.

Financing is a contingency that appears in nearly every contract – if the buyer cannot obtain financing for any reason, the contract will terminate. When lenders make a real estate loan, two entities - the buyer and the home - must each qualify for the mortgage. You will find an appraisal contingency in most contracts – if the property does not appraise at the agreed upon sale price, it’s back to the drawing board! Another common contingency is a home inspection; while this is a reasonable contingency, it can become a starting point for renegotiating terms of the contract. Some contingencies can be very risky, such as a home-sale contingency. In this case, a home seller simply trades the risk of selling his own home for the risk of selling a different one – and with far less control over factors which impact the sale of the buyer’s current home. There must be a compelling reason for even considering a home-sale contingency.

Buyers’ qualifications
Since it is unusual for homebuyers to have a suitcase full of cash for purchasing your property, a pre-approved buyer is the next best thing. It is important to distinguish between preapproved and pre-qualified buyers, so let’s look at the differences: Pre-qualification is simply an opinion of whether the buyer appears credit-worthy, as opposed to pre-approval which is based upon verification of the buyer’s income, assets, and other obligations. Keep in mind that even a pre-approval is not final, however, because it will always be subject to an appraisal of the property and possibly certain inspections.

Seller concessions
A buyer may ask you to pay some or all of their closing costs; to include some personal property such as window coverings; to make changes to the property such as restoring a finished garage to its original state; to allow the buyer to occupy the property prior to settlement. Concessions such as these could mean the difference between selling your property or keeping it on the market for several more days, weeks or months. You will have to consider each request to determine how it impacts your home-selling goals. It’s possible that a buyer would ask for several concessions that you are more than willing to make in order to sell your home. However, you are not obligated to make any concession that isn’t offered in your initial listing for the property.

Multiple offers
If you are fortunate enough to receive multiple offers, review each one carefully and rank them based upon pre-determined factors such as the bottom line, timing, buyers’ financial qualifications and the presence or absence of contingencies and concessions. Once you decide which contract offers terms most closely aligned with your priorities, begin negotiations with that homebuyer. If agreement cannot be reached, move on and negotiate with another homebuyer. Just be careful not to negotiate with more than one homebuyer at a time, because you only have one house to sell, and you don’t want to end up in court.

Your response
You have three choices when you receive an offer: accept it, reject it, or make a counteroffer. Frankly, it is rare that home sellers receive a “perfect” offer than can be accepted without any negotiations, but it does happen occasionally. You may even receive an offer thousands of dollars over the asking price, no contingencies (not even financing or appraisal), and perfect timing. But don’t count on this happening – especially not in a buyer’s market.

We rarely recommend rejection, even when an offer seems outrageous, and even when it’s a seller’s market. Some buyers and buyers’ agents use a strategy of testing the priorities of home sellers by offering an extremely low price and asking the seller to accept multiple contingencies and concessions. You have nothing to lose, except a few minutes, by making a genuine counter-offer that reflects the bottom line you will accept. At least this keeps the door open with this buyer for future more realistic negotiations.

Most buyers make an offer in good faith, asking only for concessions and contingencies that reflect the buyers’ priorities. More often than not, we can compromise and reach an agreement.

Selling your home? Call JoAnn Papsidero Srein today! 772-237-6218 or email JoAnn@myFLdreamhome.com

Showing Your Home

2009-10-01T09:41:00.001-04:00

Showing a home does not have to be an overwhelming, costly process. Regardless of your home's size, age, style, and location, there are ways to spruce it up and effectively showcase its assets. Here are a few hints that will help you know what to expect when a prospective buyer comes to see your home:

Have Your Home Ready…

It’s a good idea to maintain your home in a constant state of readiness when it is on the market for sale. Try to keep things as clean and uncluttered as possible, so buyers may come to inspect your home at any time – even when you’re not at home. Keep beds made and countertops empty. Readiness includes the exterior: Keep the yard well tended and make sure that access to the house is unfettered by nature, as in snow; or people, as in toys.

Appointments…
Agents will schedule an appointment before showing your home to their prospective buyers. Most agents plan their itinerary for showing property several hours, or even days, in advance. Consider yourself warned, however, that there might not be much notice between the time of the call and the knock on your door. It’s not unusual for an agent to call for the appointment upon driving by your home with clients in the car – possibly en route from one house to another on their itinerary. When the client asks “What about that one?” the agent normally attempts to contact the homeowner, even though it means short notice. These situations sometimes turn into sales, so it’s a good idea for you to be accommodating, if possible.

The Lockbox…
You have a life, and you can’t be tied to your home from the moment you put it on the market until it’s sold and settled. Your life-saver is a lockbox; a small device in which a key to the house is stored, often on or near the front door. Licensed and bonded agents affiliated the local Association of Realtors will have a key to access the lockbox so they can obtain a key to the property and gain entry. Most lockboxes are electronic and, therefore, provide an extra level of security by recording the identity of the person who accesses the lockbox, and the day and time of entry. You want to make your home as easy as possible to show for agents. Meaning, you should use a lockbox and your instructions should be "show anytime." If you would prefer a call first then your instructions should be "courtesy call, leave message and go." The easier it is for the buyers to see your house, the easier it will sell.

Staging…
Many sales are made or lost by “staging” the property for sale, or failing to do so. It’s very uninviting and unwelcoming to arrive for a scheduled appointment to a dark house. A negative impression is further entrenched by open food containers on the kitchen counter-top and dirty dishes in the sink, a vacuum cleaner in the middle of the living room and dirty laundry on the bathroom floor.
Some homes are very beautiful, but from a staging perspective, over decorated. For instance, some have many beautiful artifacts and décor around their fireplace and potential buyers get so caught up in the décor, they almost forget there even is a fireplace. A correctly staged home would have limited accessories - just enough to show off that fireplace. Try to remove excess furniture to show off all that floor space! You may love that red wall - it's you! But some buyers may look at it, realizing that one, it doesn't match their furniture and two, it will take several coats of paint to cover. It is also important to remember that it is important to have these things done before your house is listed. Studies show the highest showing traffic occurs within the first 30 days of your listing. Don't wait for feedback from your agent to make the necessary changes that will help sell your home.

If you know a prospective buyer is coming for an appointment, start by opening the window coverings and turning on lamps in every room. Make a quick sweep of the house to remove clutter. Have potpourri or scented candles on hand to keep the house smelling fresh or, better yet, put some brownies or cookies in the oven. If you have a fireplace, consider burning a fire during viewings (season and time permitting). Turn on soft upbeat music. It is a good idea to try and be out of the house when the buyers arrive. They want to envision the house as if it were theirs and if you are their with them it may make them feel uncomfortable. If you happen to be their when they arrive, make them feel welcome and then leave as promptly as possible. Whenever possible, arrange for children and pets to stay with a friend or neighbor during showings. If that is not possible, please confine your pets and instruct children to play quietly or read while prospective buyers are in the house. Even though you may have the nicest animal, the buyers may be afraid of them. People may also be sensitive to the odors or pet dander, so make sure you clean your house thoroughly. Don't let potential buyers walk away without fully seeing the very best your home has to offer.

Follow-up…
Sometimes a buyer looking at a home can provide information on an item that may not have been addressed with the seller. Some items can be changed, such as too much clutter, or an offensive paint color. Other items can't, such as the location of the home or the layout of a floorplan. If the buyer is interested in buying your home, most likely the agent will get in touch with us quickly – in other words, no news is probably not good news. Feedback can be very valuable, when we are fortunate enough to receive it. If 3 out of 4 visitors mention that the house is dark, however, we know to add another lamp; if several people notice a cat odor, we know to deodorize it; if you repeatedly hear that the house needs too much work, we know that some work needs to be done by you to increase the salability of the house. Showing your home can be nerve-wracking. A quickly sold home means happy home sellers who have experienced minimum hassle and inconvenience.
Thinking of Selling your home? Call JoAnn Papsidero Srein 772-237-6218 or email JoAnn@myFLdreamhome.com

Equal Opportunity and the Law

2009-10-01T09:38:00.001-04:00

The sale and purchase of a home is one of the most significant events that any person will experience in their lifetime. In America we have the right to own a home and it is more than the simple purchase of housing, for it includes the hopes, dreams, aspirations and economic destiny of those involved. There are certain laws that do come into play that outline equality.

THE LAW

Civil Rights Act of 1866
The Civil Rights Act of 1866 prohibits all racial discrimination in the sale or rental of property.

Equal Credit Opportunity Act
The Equal Credit Opportunity Act makes discrimination unlawful with respect to any aspect of a credit application on the basis of race, color, religion, national origin, sex, marital status, age or because all or part of the applicant's income derives from any public assistance program.

Fair Housing Act
The Fair Housing Act declares a national policy of fair housing throughout the United States.
The law makes illegal any discrimination in the sale, lease or rental of housing, or making housing otherwise unavailable, because of race, color, religion, sex, handicap, familial status, or national origin.

Americans with Disabilities Act
Title III of the Americans with Disabilities Act prohibits discrimination against the disabled in places of public accommodations and commercial facilities.

State and Local Laws
State and Local laws often provide broader coverage and prohibit discrimination based on additional classes not covered by federal law.
The Home Seller, the Home Seeker, and the real estate professional (and lender) all have rights and responsibilities under the law:

For the Home Seller
You should know that, as a home seller or landlord, you have a responsibility and a requirement under
the law not to discriminate in the sale, rental or financing of property on the basis of race, color, religion, sex, handicap, familial status, or national origin. You cannot instruct the licensed broker or sales person acting as your agent to convey for you any limitations in the sale or rental, because the real estate professional is also bound by law not to discriminate. Under the law, a home seller or landlord cannot establish discriminatory terms or conditions in the purchase or rental, deny that housing is available, or advertise that the property is available only to persons of a certain race, color, religion, sex, handicap, familial status or national origin.

For the Home Seeker
You have the right to expect that housing will be available to you without discrimination or other limitations based on race, color, religion, sex, handicap, familial status, or national origin.
This includes the right to expect:

· Housing in your price range made available to you without discrimination

· Equal professional service

· The opportunity to consider a broad range of housing choices

· No discriminatory limitations on communities or locations of housing

· No discrimination in the financing, appraising or insuring of housing

Reasonable accommodations in rules, practices and procedures for persons with disabilities

· Non-discriminatory terms and conditions for the sale, rental, financing, or insuring of a dwelling

· To be free from harassment or intimidation for exercising your fair housing rights.

Licensed real estate brokers and salespersons are prohibited by law from discriminating on the basis of race, color, religion, sex, handicap, familial status, or national origin. A request from the home seller or landlord to act in a discriminatory manner in the sale, lease or rental cannot legally be fulfilled by the real estate professional.

FURTHER ASSISTANCE

Local Boards and Associations of REALTORS® will accept complaints alleging violations of the Code of
Ethics filed by a home seeker who alleges discriminatory treatment in the availability, purchase or rental of housing. Local Boards of REALTORS® have a responsibility to enforce the Code of Ethics through professional standards, procedures, and corrective action in cases where a violation of the Code of Ethics is proven to have occurred.

Complaints alleging discrimination in housing may be filed with the nearest office of the Department of
Housing and Urban Development (HUD), or by calling HUD's Discrimination Hotline at 1-800-669-
9777, or 1-800-290-1617 (TYY). For information and publications on fair housing, call HUD's Fair
Housing Information Clearinghouse at 1-800-343-3442.

Form No. 166-799 Published by The NATIONAL ASSOCIATION OF REALTORS® 2/97

For more information call JoAnn Papsidero Srein 772-237-6218 or email JoAnn@myFLdreamhome.com

How is Your Curb Appeal?

2009-10-01T09:31:00.001-04:00

In real estate you don’t get a second chance to make a good first impression. That first impression could mean the difference of selling your home. In order to show the home to a global buyer, it must look pristine from the street to the doorknob.

The first step should be to dress up the front door area. In most cases, a fresh coat of paint on the door, freshly washed windows on the front of the house, and new or polished door hardware and lighting are musts. A wreath on the door and flowers in season in front of the house provide the “icing on the cake”. People cost themselves a lot of money by not paying attention to the exterior appearance of their house.

The basics
What can you do to add to your home's curb appeal? At a minimum, everything a potential buyer might notice about a home’s exterior and lot should be in working order and well maintained. For the most part, homeowners can take care of this work themselves with very little money and a lot of elbow grease. The first step is to keep the grass cut, the bushes pruned and the leaves raked. An easy welcoming step is to add some color such as a pot of flowers, mums or pansies maybe, on the front porch. Also, landscaping is a relatively inexpensive way to increase your home's visual appeal, and something that is not hard to do yourself. It is a good idea to have the exterior power washed and don't forget the deck and driveway. If the outside of the home looks shabby people will wonder what maintenance issues may have been skipped on the inside as well.

Items such as burned-out light bulbs, broken doorbells and fountains, cracked panes of glass, and damaged trim should be repaired or replaced. Windows and siding should be clean, and any metal objects, such as doorknobs, mailboxes, and kick plates, should be polished. If the house shines like a pretty penny, it will sell more quickly. A bag of fertilizer from the local hardware store or garden center and regular watering will perk up grass in a week or two. Flower beds should be weeded and covered with fresh mulch. If the yard is overgrown and weedy, it’s a turnoff. Trees and shrubs are great and should be trimmed so that you can still see the house. We suggest trimming trees up to the rain gutter line or the top of the highest window. Shrubs should follow a same line as the bottom of a window trim. If a lot of trimming needs to be done, do it several weeks before so that the plants have a chance to recover. If bushes are beyond trimming, the homeowner should remove them unless they’re covering up an unattractive feature. It’s better to have minimal landscaping than bad landscaping. After homeowners get the outside in tip-top shape, they must maintain the property, because potential buyers could drive by at any time. Remind sellers to turn on any exterior lighting so that a home’s features can be seen at night. The home has to say “buy me” at all times.

Must do vs. should do
Once owners have covered the basics, the line between “must do” and “should do” projects becomes blurred, with budget and timing of the sale often determining which tasks to tackle.

The roof is a biggie. If the shingles are starting to cup and curl, owners should consider replacing them. Painting a home’s exterior, replacing damaged gutters and shutters, repairing broken concrete in walks and driveways, and adding exterior lighting should also be high on the list. The seller can hire someone to power wash the exterior, if painting is not an option so that it looks nice and fresh. How is the paint? Is it a neutral color? Does it flow with the rest of the homes on the street? Painting your house bright Blue will attract attention for sure, but not when you are selling. Remember, with global buyers... neutral is key here. Start with the trim if you can't paint the whole house, especially around the front door and front porch. It can be as simple as painting the front door a different color.

How is the driveway? Are there cracks, oil stains, garbage cans? The driveway is the largest hard area near the home, the material and look of the driveway and garage have a huge impact on curb appeal. Is your walkway to the front door defined? Does it lead buyers to the front door or front entry? Make sure people know where your front door is, and then work on drawing people toward the front door. If the front entry area has a patio, create an outdoor sitting area.

Other projects fall into the optional category. Landscaping is a good example of the type of improvement homeowners can pursue, but only if they have the money and time. A yard makeover can have a dramatic effect on a home’s curb appeal, but the cost can easily run into several thousand dollars or more, and the improvements might take weeks to install and several months to mature. This is a project that owners should initiate about 6 months prior to listing their home for sale. If flowerbeds are scarce or nonexistent, you can fill flowerpots to add splashes of color. Yellow and red flowers are buyer colors. They really seem to stop people in their tracks. If there’s room, add a bench to the front porch. If not, try putting it in the yard. Another cost-saving suggestion for improving curb appeal is to focus on plants and not worry about projects such as putting in a brick pathway. Plantings tend not to be the expensive part of the job.

Planning ahead
A recent survey by Hebert Research for HouseValues Inc., based in Kirkland, Wash., found that the average home sale is about months from the time the owner thinks of selling to the closing date. If that sounds like your schedule, it would be a good idea to start sooner rather than later on maximizing your curb appeal. The bottom line is "curb appeal".

Thinking of Selling your home? Call JoAnn Papsidero Srein today! 772-237-6218 or email JoAnn@myFLdreamhome.com

How to Price Your Home

2009-10-01T09:18:00.001-04:00

Setting the “right” price to attract buyers, while maximizing your profits, is both an art and a science.

THE SCIENCE of home pricing begins by gathering details about the property – Lot size and zoning, year the home was built, square footage, number of rooms, mechanical equipment, appliances, flooring, features, condition and other factual information.

The competition and nearby properties of similar age, construction, size, condition and features that recently sold and settled also come into play. These properties are often referred to as comparables.

THE ART of home pricing involves an analysis of those details gathered to determine exactly how your property relates to the competition and the market.

An objective and outspoken viewpoint regarding property condition is essential so that you can make changes to your property before putting it on the market - changes that will maximize your property value.

Some points to consider when setting your price:

Price it to sell - Everyone wants to sell their home quickly, but to achieve this in today's market, you must price your home accurately. A home should be priced based on a recent market analysis on homes that have sold in your neighborhood. Comparable sales should never be older than six months and you should always give the most weight to homes that have actually sold more recently. Don't try to "test the market" with a higher price, which will simply increase your time on market. Be honest and analytical in your approach, and don't set your price based on the proceeds you would like to receive at the end of the process.

Don't price your home based upon the highest quote from a Realtor you interviewed. Often they are just trying to get a listing

Price your home based on comps that are within 90 days old – In this market, Appraisers are using this guideline for the banks.

Don't price your home based upon "Active" listings in the area - this is what seller's would like to get for their home, not what they sold for.

If your home is on the market for 30 days and you’ve had no showings, offer incentives, such as: "will contribute 3% towards closing costs" to help with less cash to close.

Be willing to change the price - If no one is showing your property or if you have had no offers after a long time on the market, you need to lower your price. Price is the single largest motivator to change the behavior of buyers, and no amount of advertising or open houses will be as effective as a lower price. Make your price decrease a substantial, meaningful amount and be sure to give them time to take hold in the market (4-6 weeks, typically).

Common Seller Arguments:

Sellers sometimes have unrealistic ideas about what their homes are worth in today's market. Here are a few common seller arguments and our response as to why they're not always valid.

The house across the street just sold for... There are many reasons this argument is most often inaccurate. Just because homes are in the same neighborhood doesn't mean they have the same market value. Many factors come into play, such as square footage, house style (ranch, colonial, etc.), updates, and amenities.

My "Zestimate" on Zillow says my house is worth... Zillow may have access to public tax records about a home, but all they base their estimates on is the basics, such as square footage and number of beds and baths. There's much more to a home than its shell. Zillow doesn't know anything about updates or square footage not mentioned in tax records.

I spent more than that on updates! Unfortunately, what you put into your home isn't automatically what you're going to get out of it. People make updates based on their own personal preferences, and they enjoy them while living in their homes. That's the way it should be. Updates make a home much more saleable, but they don't always amount to a dollar-for-dollar gain.

The best way to find out how much your home is worth is to speak with a professional who's experienced in making sense of all your market data.

The art of pricing can be compared to tuning a violin – a small adjustment up or down will make a difference! Set your price too high and your home may languish on the market; too low and you may get thousands less than your property is worth. While there are no guarantees, the odds of pricing your home “right” improve when you work with an experienced real estate agent.

Thinking fo selling your home? Call JoAnn Papsidero Srein today! 772-237-6218 or email JoAnn@myFLdreamhome.com

Marketing Your Property

2009-10-01T09:14:00.001-04:00

Marketing is defined as a strategy for communicating to prospective buyers that your home is for sale. There are many methods of marketing a property. These methods vary from one property to another or one month to another, based upon market conditions of each property. Marketing in the 21st century is very different than it was just ten years ago. Selling your home in a buyer’s market must be approached differently than a seller’s market. Agents that have only sold in a seller’s market are inexperienced and untrained in the techniques necessary to sell in today’s buyer’s market. As market conditions shifted in 2006, experienced agents had no learning curve to deal with.

Here are some of the strategies that are included in our marketing plan:

Buyer Profile
When you list your home with us, we will evaluate your property and make some educated guesses, based upon our experience, about whom the likely buyer is and how to reach that buyer. This profile takes into account factors such as nearby commuting routes, schools, recreational facilities, and major employers. This analysis will cover every marketing decision we make for your property.

Networking
My network of other agents, former clients and current prospects is an essential element of any marketing plan. Due to regular contact with our extensive network, many times we can connect buyers with sellers.

Advertising
Advertising is more than the print media - it’s the Multiple Listing Service, the Internet, Newsletters, Mailings, blogs and email to promote the benefits of your property to the target market identified.

Multiple Listing Service
MLS Xchange is the regional multiple listing service for our area. The MLS provides a catalog of more than 100,000 home listings – currently available or under contract. When you list your home with us, we will promptly post the information online.

Open Houses
Open houses rarely produce a buyer for the specific property that is held open, but they do sometimes produce buyer prospects for an agent. Busy agents, therefore, often choose not to hold open house for their listings because they don’t have time to take on any more buyers. When you list your home with us, we can discuss the pros and cons of holding “Open House” and make a decision together.

The Internet
Surveys indicate that about 83% of today’s homebuyers begin their home search online. They have greater access to data than any time previously, including real-time information about current listings which is available from the multiple listing service, Realtor.com, and countless other websites. The importance of the Internet to your home sale cannot be overestimated and, therefore, it is important for you to choose an agent who uses the Internet effectively. You’ve seen our website - compare it with other agents in the area to get a sense of how much they respect this valuable home selling tool

Thinking of Selling your home? Call JoAnn Papsidero Srein today! 772-237-6218 or email me JoAnn@myFLdreamhome.com

Why JoAnn Papsidero Srein & RE/MAX Masterpiece Realty?

2009-10-01T09:10:00.001-04:00

We know that selling your house is just one of the things on the forefront of your mind. Fortunately, it's the ONLY thing we think about. While there are many qualified real estate agents out there, it's important to decide on a professional who will understand your needs and individual preferences, someone who you can respect and trust. That’s where we come in!

If you're thinking of selling, why not put our expertise to work for you? Deciding to sell a home is a big endeavor. You need someone you can count on to get the job done so you can concentrate on the many other facets of your life. We are genuinely concerned with helping you achieve your goals and dreams. We want you to be comfortable with our approach to this important milestone in your family's life. Every customer is important to us. We don’t pass our clients off to personal assistants.

In this present selling market you need an agent who:

1. Gives you undivided attention.

2. Knows the market

3. Has great connections

4. Works hard to bring buyers to your home

5. Gives you breathing room

6. Explains forms, formulas and financial considerations and liabilities.

7. Masters of detail so that nothing slips.

JoAnn Papsidero Srein and RE/MAX Masterpiece Realty will ensure that you get the treatment you deserve and your home gets the maximum exposure it can get. We will handle all aspects of marketing your home, answer all of your questions and assist you throughout the selling process. We want you to feel comfortable referring your friends and family to us.

Our integrity is revealed in the customer satisfaction we have already provided throughout the years. If that’s not enough, check out our record with the state of Florida Real Estate Commission to see if any complaints have been filed by a consumer or another agent. We take pride in our clean record and honest dealings with our clients. After all, real estate is one of the biggest investments you’ll make in your lifetime – both financially and personally. Call on us to get the job done and accomplish your goals.

Call me today! 772-237-6218 or email me at JoAnn@myFLdreamhome.com

What are the Listing Broker’s Duties?

2009-10-01T09:07:00.001-04:00

When it's time to sell your home, chances are that you'll hire a real estate agent to help list and sell your property. Before you sign on the last page and place your initials on all the pages of the listing agreement, make sure you familiarize yourself with the duties of the real estate agent whom you hire. Of course you know that the listing agent will advertise and market your property and try to find a buyer for your home. What else are they obligated to do when you sign the paperwork?

LISTING BROKER DUTIES:

Protect and promote your interests - By signing a listing agreement, the broker agrees to represent you and your interests.

Use reasonable efforts to seek buyers at your acceptable price and terms. Ultimately, you select the price and terms that you are willing to accept. The listing agent will provide you the pricing data and other information to help you make an informed decision.Negotiate on your behalf and assist in consummation of the sale Negotiations occur throughout the transaction. Choosing a good negotiator for your real estate deal is crucial.

· Market your home by advertising in publications, mailings, brochures and internet sites. Make sure you ask your listing agent what tools they will use to market your home. Over 80% of today's homebuyers start their search on the internet. Find out if your agent has a solid internet marketing plan to sell your home.

· Make unilateral offer of cooperation and compensation to other brokers in any MLS deemed appropriate. In Brevard County we have INNOVIA which operates the multiple listing service. Your home should be on the MLS for the widest exposure to other agents and brokers who will bring buyers to your home. In the majority of cases, it will be another agent or broker who finds the buyer for your home. Your listing agent should provide an attractive description and multiple photos on the MLS so that agents and buyers can find your home.

· Place "for sale" signs on your property. Just another form of advertisement and exposure. (Not available in all locations).

Show your home during reasonable hours and accommodate other agents to show your home. An electronic lockbox provides the easiest way to allow access. However, you have the right not to be disturbed during dinner, late at night, early in the morning, or while you are in the shower!

Present all written offers or counteroffers in a timely manner. Emphasis on the word "ALL." It's your choice what offer you decide to accept or reject. The agent cannot withhold offers from you. In real estate, time is always of the essence. If a buyer's offer for your home is not presented to you in a timely manner, that potential purchaser may move on.

Account, in a timely manner, for all money and property received in trust by Broker, in which you have or may have an interest. You have a right to know where the funds are being held.

Maintain the confidentiality of your personal and financial information. Anything you tell your listing agent will be kept confidential - even after the transaction is over or the brokerage relationship is terminated. This duty is very important. Don't be afraid to discuss important details of your personal and financial information with your listing agent. This information will be very important for them to assist you fully in selling your home.

Thinking About Selling Your Home? call JoAnn Papsidero Srein today! 772-237-6218 or email at JoAnn@myFLdreamhome.com

Check the Market Conditions Before Selling

2009-10-01T09:03:00.001-04:00

Market conditions will have a major impact on your selling experience. Understanding what is happening in today’s marketplace can help you develop and execute a realistic plan to sell your home. Gauge market conditions. Real estate markets are cyclical. When you listen to any financial planner or investment advisor, they tell you buy low and sell high. The market will certainly return to normal as it has in the history of real estate. Typically a homeowner remains in their home for 5 - 7 years and while there is no guarantee of what the market will do, you can certainly look to the past. If you put your house on the market when the supply in your area is high, it will likely take longer to sell your house. When you decide it's the right time to sell, you must then look at who else is selling at that time. This will be your competition.

When is the best time to sell? There are two primary selling seasons - spring and fall. Spring is the strongest, since many shoppers want to buy and move in before school begins. Summer and winter are generally very slow periods in most markets. Some areas have their own seasons.

To understanding area sale, check out actual sale and closing prices of homes in the immediate vicinity of your home. Remember, national housing statistics are about as relevant as national weather statistics. Real estate is local.

Success may mean not selling your home right now. Many homes are currently on the market that do not need to be. The sellers would LIKE to sell, but they don't HAVE to sell. While inventory levels high and your motivation to sell may be very low. Consider re-listing your home when there more incentives for you to sell.

The current status of the market can have a significant effect on your home selling strategy and the results you are likely to see. Try to develop an understanding of the market so you have some idea of what to expect - and a feel for how you can bargain when negotiating with buyers.

Thinking about selling your home? Call JoAnn Papsidero Srein today! 772-237-6218 or email at JoAnn@myFLdreamhome.com

85 Things You Can Do to Make Your Home Sell Faster

2009-10-01T09:00:00.001-04:00

1. Open the curtains, pull up the shades and let in the sunlight.

2. Create a positive mood. Turn on all lights, day or night. Open the curtains during the day.

3. Install higher wattage light bulbs to show your home brightly-in its best light.

4. Remove all clutter from each room to visually enlarge them.

5. If you have a fireplace, highlight it in your decorating.

6. Keep your home dusted and vacuumed at all times.

7. Have a family emergency "game plan" to get the home in order quickly if necessary.

8. Air out your home one-half hour before the showing if possible.

9. Lightly spray the room with air freshener 30 minutes before a showing so that it has a chance to diffuse before the buyer arrives.

10. Microwave a small dish of vanilla twenty minutes before the showing and place it in an out-of-the-way place in the kitchen.

11. Create a master "suite" affect in your decorating.

12. Make sure that beds are made and the linens and curtains are fresh and clean.

13. Organize your closets, remove unnecessary items and put them in storage.

14. Bathrooms should always be kept spotlessly clean.

15. Do not leave used towels around and wipe down the shower areas after each use.

16. Re-Caulk if the caulking is not sparkling white!

17. Put out fresh towels and decorative soap for showings.

18. Close the toilet-bowls in all bathrooms.

19. Set the scene by setting the table! Highlight the potential of your dining room by setting a grand dining table!

20. The kitchen should always be kept spotlessly clean.

21. Expand your counter space by removing small appliances.

22. Highlight an eat-in area in your kitchen with a table set for dinner.

23. Shampoo all carpets and vacuum them daily.

24. If the carpet does not clean up well you should Replace It!

25. Improve traffic flow through every room and create a feeling of spaciousness in every room by removing unnecessary furniture, knick knacks, hobby items, children's items, etc.

26. However, try to avoid creating a "sterile" looking environment.

27. Remove all grease from range hoods, ovens, stove tops, walls, etc.

28. Clean rubbish out of the fireplace and keep it clean in the winter.

29. If you have numerous family photos put them away until your home is under contract. Perspective buyers will feel more like it can be their home if they aren't aware of your family photo memories.

30. Remove all unnecessary items from the attic, basement, garage, tool shed, and especially from the storage area if you have one.

31. Rent a storage area for these items or have a yard sale.

32. Straighten, tidy, and remove unnecessary items from all closets. Put unnecessary items in storage.

33. Clean out cob-webs that accumulate in the ceiling corners in all rooms.

34. Fix the Front Door Bell!

35. Invest in a new door mat.

36. Make sure the front door, storm door, screen door, etc. work properly and do not stick or jam.

37. Create the feeling of a spacious entry area by using decorating accents, mirrors, rugs, etc. and by removing all unnecessary clutter.

38. Regardless of the season, tackle spring cleaning. Clean everything in your home from top to bottom, from the attic to the basement!

39. Wash all windows, inside and out.

40. Curtains should be fresh, clean and attractive.

41. Clean all light bulbs, light fixtures and chandeliers to brighten the home.

42. Remove all smoke odors, pet odors, and other odors resulting from hobbies, home should smell clean.

43. Remove posters and adhesive from walls and doors and putty any holes resulting from nails or other mishaps.

44. Depersonalize teenager's rooms and decorate in a neutral temperament.

45. Paint all inside walls with off-white paint. Use two or more coats to cover bold, bright or dark walls.

46. Repair or replace all doors, closet doors, and/or windows and screens so that they open with ease.

47. Repair or replace banisters and handrails so that they feel solid and safe.

48. Repair or replace broken tiles on walls, floors or in showers/tubs.

49. Repair or replace loose or dangling wall paper.

50. Replace all toilet bowls if you cannot get them spotlessly clean.

51. Replace shower curtains and keep them clean.

52. Replace the washers in faucets and remove rust stains from basins.

53. Water and prune all plants.

54. Use plants in transitional areas of your home between inside and out.

55. Either get rid of dying plants or keep them out of sight.

56. Remove any excess extension cords and exposed wires.

57. Open doors to areas you want the potential buyer to see such as walk-in closets, pantries, attic, basement, etc.

58. Close all other closet doors and cabinets.

59. Make the most of your attic's potential, if applicable.

60. Make the attic as pleasant as possible by airing it out, and decorating if possible.

61. Add visual appeal to stairways, especially in unfinished stairways to the basement.

62. Keep the yard mowed, raked, fertilized and watered at all times!

63. Remove all toys, bicycles, tools, unsightly patio furniture, trash, etc. from the yard.

64. Trees and shrubs should be pruned and trimmed.

65. Lawns and gardens should be weeded at all times.

66. Use flowering plants to dress up the yard, walkways, and patio.

67. All hoses and garden equipment should be neatly out of sight.

68. Outdoor furniture should be kept clean and/or repainted if necessary.

69. Mail boxes should be evaluated with a critical eye.

70. Paint and repair the mail box or replace it if necessary.

71. Make all those minor repairs to the exterior.

72. Porches, steps, verandas, balconies, patios and other extensions of the house should be kept uncluttered, swept and in good condition.

73. Paint all entrance doors.

74. Shades and awnings should be in good condition. Replace if the color has faded.

75. Highlight your pool area, water garden, etc. with lighting, benches, planters, flowering plants, etc.

76. Take nighttime photos if you have decorative yard lighting systems.

77. Clean and shine all accessories (door knobs, knockers, lamps, mail boxes, address numbers, etc.).

78. Clean, repair and paint all gutters and downspouts.

79. All roof shingles, tiles, etc. should be secured or replaced. If the roof leaks - Fix It!

80. Make sure the garage door opens easily. Fix and paint the garage door if
necessary.

81. An investment in painting your home can really make the difference between "turning on" the buyer and sending up a red flag about the condition of the home.

82. Don't be afraid to accept the first offer.

83. Obtain a floor plan of your home if possible.

84. Assemble house records for buyer perusal.

85. Only consider written offers by lender-prequalified buyers.
Selling your home? Call JoAnn Papsidero Srein today! 772-237-6218 or email at JoAnn@myFLdreamhome.com

Dressed For Success

2009-09-29T16:16:00.001-04:00

In preparing your house to sell, ask yourself if your house looks like someone else's dream house. Before you put your home on the market, take the time to look at it through the eyes of prospective buyers. They may be "turned-off" by flaws that you have learned to live with - flaws that are not expensive or time-consuming to correct. Houses in move-in condition tend to be inviting to buyers. Houses that are like new typically sell the fastest and sell for the best price.

De-Clutter
Getting rid of clutter makes every room look larger and feel neater. If a house is cluttered, buyers have trouble imagining themselves living in it. By removing or storing things you don't need, you create a roomy, comfortable feeling that will be inviting to prospective buyers. Remember, when in doubt, throw it out, sell it, or give it away! Take those things to Goodwill that you'll have to discard anyway when you move. Organize your kitchen cabinets. Make your kitchen as BIG in appearance as possible. You should only have a maximum of two items on your counter tops. Maximize your counter top square footage and also cabinetry if possible.
Too much furniture and too many knick-knacks make rooms look cluttered and small. One or two decorative items per surface are plenty, so pack the rest away. Rearrange or remove furniture to make your rooms look more spacious. Some sectional couches are better served in storage while the selling process is taking place. If you have some tough traffic areas where walking through is kind of tough, try moving around your furniture to maximize the space. Maybe you need to remove a chair, loveseat, or the huge T.V. set up that you have to free up a room's true potential. Get some boxes and go from room to room. If there is something there that isn't a necessity, pack it up. Go to your bookshelves and remove 1/2 of everything on them. Go through your entire house and you will be surprised how much "stuff" you can pack in advance.

Clean, Clean, Clean
Step back for a moment and look at your home as if you were seeing it for the first time. Every room should be spotlessly clean. Steam clean the carpets and clean the wood floors or tile. Wash the walls, windows and clean all the light fixtures in your home. Clean the dust off of the ceiling fans and polish the chrome. Clean all the woodwork. Dust your picture frames. Vacuum all of the cobwebs around the top of your cabinets, at the top of your vaulted ceiling, and any of those other hard to reach places. Clean your oven, refrigerator, and the microwave. ) Put those scrubbing bubbles to work in the bathroom. Clean behind the toilet. Make the beds every morning. You never know when you might get a showing. Do the dishes as needed. Clean them as you use them. Make sure your vents, window sills, walls, artwork all sparkle. Make sure everything in your home is simply beyond clean. Cleaning makes your house easy for buyers to explore and gives the impression that it has been well cared for. Be sure every room smells as good as it looks. Make your house look like new!

Repair
If there is anything in the house that is in need of repair, now is the time to put those handyman skills of yours to work. Everything from the loose cabinet handle to the leaky faucet needs to be addressed. Repairs, both large and small, eliminate buyers' objections before they arise. If you think something is too much trouble to fix, chances are that buyers will, too. Buyers tend to think that repairs will cost more than they actually do. They may not realize that a dripping faucet may be easily corrected with a part that costs less than a dollar. Replace the carpet if it's worn. Your house will shine with new carpets. If your carpets aren't that old and are in decent shape you can just have them shampooed. If they are torn or tattered, get them replaced. You will recoup the cost of flooring in your main living spaces 99% of the time. Just remember that potential buyers will find these little defects and judge how you maintain a home by them. Nail down creaking boards and stair treads. Lubricate any sticking or squeaking doors. Be sure that sliding doors operate smoothly and knobs on drawers are secure. Re-caulk tubs and showers. A fresh coat of paint can do wonders to the look and feel of a home. A home with too much "personality" is harder to sell. Things to consider when picking out your paint colors: Lighter colors tend to brighten up a room and give it a larger feel. Bold colors can be very pleasing to your eye, but will they please the potential buyer? Help the buyer to visualize the home as theirs. Patch cracks and nail holes in the walls, and repaint walls in neutral colors, such as white or ivory. Neutralizing helps buyers picture their own things in your house and see themselves living there. Neutral paint, decor and carpet create a canvas for any lifestyle. Eliminating distracting colors and accessories lets buyers concentrate on important factors such as the room size and function.

Light and Bright
Do everything you can to brighten the interior. Open the curtains or blinds during the day to maximize the natural light. Use bright light bulbs in the foyer and throughout the house. Add lamps and lighting if the house is dark. Turn on the lights at night to create a welcoming environment for prospective buyers. Always maintain a comfortable temperature inside the house, even if you are away for an extended period of time.

Aroma
Your home should smell clean and fresh. Avoid cooking anything with a strong odor such as fish or cabbage while your house is on the market. If you are a smoker, do NOT smoke in your house. You may not smell the lingering odor of cigarettes, but non-smokers certainly will and it can be a real turn-off to a potential buyer. Fill the house with a pleasant aroma, such as berries in the summer or cinnamon in the winter. Take the time to add some fresh flowers to your foyer or entryway.

Exterior
Do the shrubs need pruning? Do you need to repaint? What's normal for you may be unacceptable to the buyer. Mow the lawn, rake leaves, trim trees and shrubs that keep light out of the house and remove dead plants. Pick up tools, garbage cans, hoses, toys, and building materials and store them neatly in a storage area. Replace broken or missing roof shingles and straighten and clean the gutters and downspouts. Clean all windows and mend torn screens. Painting your house helps improve curb appeal more than any other fix-up! If you decide against painting the entire house, consider painting the front door, window frames and shutters. Seal or resurface the driveway and repair broken steps and walkways. Paint or replace your mailbox and post. Dress up the front yard with some simple landscaping.

One thing is certain - property condition is a major factor in selling your home quickly and at the highest possible price! It is one of the few things that you DO control in your home sale.
If you want more information on preparing your home to sell successfully, contact JoAnn Papsidero Srein at 772-237-6218 or email me at JoAnn@myFLdreamhome.com

Factors That Impact Your Home Sale

2009-09-28T21:56:00.002-04:00

A few examples of factors that impact your home sale could be the weather, your competition, war or peace, and economy on a local, state, national and international level . Since these factors and others are beyond your control, it is critical for you to make wise choices regarding those that you can control:

Price
Once you have decided to sell, the next big step is to determine what the fair asking price should be for your home. Try to avoid overpricing your property; this may cause your home to remain on the market for an extended period of time. Instead, you should price your home so that you get a fair return on your investment and in a reasonable time period. You must actually sell your property twice: first to a buyer and then to a lender's appraiser. The buyer is more subjective and compares amenities of your home to those of other homes in the same price range. The appraiser is more objective and compares age, size, and cost-identifiable features in your home against other properties that have sold. Determining the "right" price and terms is another key step in selling your home or residential investment property. For an estimate of your property's market value, simply contact us today and tell us about your current home.

Condition
Know the condition of your house, the age of the mechanical systems (heat, plumbing, air conditioning), the amount of necessary house repairs or replacements, the builder, and date the house was built. Buyers should be able to imagine themselves living in your home. For that reason, it must be clean, uncluttered, neutral, and staged for showing.

Exposure
Today's highly motivated and well-qualified buyers are busy people. They have jobs, families,
community activities, and other responsibilities to handle, and they usually hire a buyer's agent to help with their home search. When you list your home with us we use several techniques such as signage in the yard for drive-bys, open houses, garage sales, internet, web exposure and networking. We will enter the data into the MLS and make it available to over 2000 real estate agents in Brevard county.

Access
One of the best ways to get your home sold is to make it accessible. You must make your home accessible for prospective buyers to inspect all day, every day, until it is sold. Be sure that it's always ready to show. We are in a time of high inventory. Agents, as well as their buyers, don't have the patience to jump through too many hoops to see your home; there are just too many choices to move on to. Many agents won't show a house that takes 24 hours notice. Leave when home buyers are present.

Flexibility
Market conditions can change from week to week, and even day to day. It could be necessary for
you to adjust your pricing, terms, access, condition, and exposure to stay competitive. You can still sell your home despite the current marketing conditions: all it takes is a little creativity, some clever strategies - and a whole lot of patience! Be willing to adjust and come to an agreement throughout the transaction process.

Your Listing Agent
You will rely upon your agent for professional advice on every aspect of your home sale, so your results depend in large part on the agent you choose to represent you. It could mean the difference between success and disappointment. Find an agent who knows and understands the current market and can provide specific data. (comparables, trends, actual sales, current listings, market rejections) to support their position. Who is your competition? What is your target market? You need someone with a strong understanding and use of technology. The majority of buyers these days use the Internet to search for homes first before hiring an agent. A good listing agent is not the agent who promises a particular price or the highest list price. A good agent is someone who asks lots of open ended questions and listens to the answers, and who can provide options as well as solutions to problems.

Remember, there are many factors that impact home sales. It is not necessarily your fault, or that of your agent, if your property doesn’t sell. But you will improve your odds by taking control of the factors that are within your control.
Call JoAnn Papsidero Srein at RE/MAX Masterpiece Realty to find out more about selling your home. 772-237-6218. Or Email me JoAnn@myFLdreamhome.com

Beautiful Home for Sale Port St. Lucie, Florida! $250,000

2009-09-12T20:44:00.007-04:00

734 Lighthouse Ave. Port St. Lucie, Florida 34983
SOLD

4 Bedroom, 3 Bath Pool Home with a detached 7 Car Garage!

2844 Living Sq Ft, 4804 Total Sq. Ft, Lot size:165x125

Pool size: 30x15

Large Master Bedroom 16x13,

Kitchen remodeled 2008 - corian countertops, wood laminate flooring

Beautiful tiled entry with diagonal laid tile & plant shelves at entry way

Formal Dining Room, large 27x19 Family Room with a view overlooking the Pool. Formal living room and a bonus room that can be used as a Den, Office or Playroom.

The Pool was resurfaced in 2008 with upgraded lifetime guarantee Pebbletec, pavers installed, new pump, filter and cleaning equipment. The 44x23 covered, screeend Patio has new pavers and ceiling fans. year built 1974.

Don't let the age of this home fool you onthis wonderful home. There is so much sapce in every room and tons of updates throughout including new roof and gutters in 2005. Call JoAnn Papsidero Srein today to see this home! 772-237-6218 or email me JoAnn@myFldreamhome.com

Thrifty Seller Solutions for an Outdated Kitchen

2009-09-12T15:06:00.002-04:00

Adapted from an article in the October/November 2007 issue of Fine Homebuilding. To read the entire article as well as other stories about home repair and remodeling, go to www.finehomebuilding.com. by Sarah Shideler

If a cramped, old kitchen is turning off buyers, follow the lead of these home owners and turn a liability into a showplace.

The challenge most homeowners face involve a key element in limited supply: money. You know that you’ll be doing a substantial amount of the work yourself or supervising subcontractors called in for selected jobs. If you know what your budget is then here are some of the lessons we learned that sellers can use in turning that old, tired kitchen into a showplace buyers will clamor to call their own.

1. Add space and light by removing a wall. Instead of shelling out thousands of dollars to build additional floor space for our cramped kitchen, we took a simpler, less invasive approach. We replaced the partition walls with a single supporting beam and extended the exterior wall to enclose an underused 8-by-9-foot deck. For more light we added a large skylight and enlarged the garden window.

2. Don’t move the plumbing. Although it was tempting to move the sink from the back wall to the new island, it would have cost us an additional $1,200. Relocating the stove was possible, but moving the gas and electricity would have run at least $500 plus the cost of a new stove to work with the island. We did relocate the fridge to make room for the island, which we use for both food prep and casual dining. However, keeping most of the appliances in the same place saved us an estimated $2,000.

3. Unclutter the countertops with special hardware. Limited counter space doesn’t have to mean limited workspace. Mounting a stand mixer and a food processor on heavy-duty appliance lifts from Rev-A-Shelf kept them out of the way but instantly accessible. The brackets are strong enough to support an appliance in use, so you can lift it up to create an instant workstation. The lifts average about $90 each.

4. Buy ready-to-assemble cabinets. We chose white melamine boxes for most of the kitchen and cherry for the hutch, all from CabParts. The drawer boxes were ordered from Drawer Box Specialties. Ordering parts by mail and installing them yourself requires careful planning and precise measurements, but the payoff is major savings (for us, about $15,000).

5. Consider a variety of countertop materials. We wanted granite for its look and durability, but our budget kept us from using it on the island as well as the countertop. By shopping around, we found a 3⁄4-inch-thick granite slab that cost 30 percent less than a 1 1⁄4-inch version. The granite’s true thickness is visible around the under mount sink, but a laminated edge makes it look like a thicker slab and hides the plywood backing, which adds structural support to the countertop. A maple butcher-block top on the island costs about $450.

6. Completing most of the demolition and general-carpentry work ourselves saved thousands of dollars. To save time, we hired laborers here and there, as well as electrical and plumbing contractors when necessary. Instead of renting an on-site Dumpster, we made multiple truck trips to the dump, which saved a little money but probably cost a good amount in time. I also cleaned up at the end of each day when a crew was on site to save at least a half-hour of labor, if not more. When all is said and done, our own kitchen makeover reinforced what we had learned from similar jobs: that savings can be maximized when you consider as many economical sources as possible.

$8000 Tax Credit for First Time Home Buyers!

2009-09-12T15:04:00.004-04:00

Great news for First-Time Home Buyers!

First Time Home Buyers can receive a tax credit of up to $8,000 for buying their first home. The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified first-time home buyers who purchase a home after December 31, 2008 and before December 1, 2009.

With home prices lower than they have been in a long time, this is a great opportunity to become a new homeowner!

What you want you to know:

•Participating in the tax credit program is easy. You claim the tax credit on your federal income tax return. The tax credit can be claimed on 2008 income tax forms even though the purchase took place in 2009. A buyer could close on a home the same day that the President signs it into law, fill out their income tax forms the next day, and receive the tax credit fairly quickly.

•To qualify as a first-time homebuyer, the purchaser cannot have owned a home within the previous three-year period. However, ownership of a vacation home or rental home does not disqualify the buyer.

•The tax credit is a straight dollar-for-dollar reduction of your tax bill

•For first-time home buyers purchasing a home, the credit is worth 10 percent of a home’s value up to $8,000, which means all homes worth more than $80,000 could qualify for the maximum amount.

•The credit begins to phase out for taxpayers with adjusted gross income in excess of the limits. The income limit to qualify: A married couples’ modified adjusted gross income (MAGI) should be under $150,000 and single filers’ MAGI should be less than $75,000. Partial tax credits may be available for married couples with MAGI incomes over $150,000 but under $170,000, and single filers with incomes over $75,000but under $95,000. If married couples file separately, they can both claim 5% of the home purchase ($4,000 each for a home over $80,000) on their tax returns.

•It’s a tax credit, not a deduction. That means the entire amount goes back to the first-time homebuyer unlike deductions, such as mortgage interest, that are subtracted from gross income before tax is calculated. If qualified for $8,000, the buyer gets $8,000, even if they would not owe that much in taxes otherwise

•Within the first three years of the purchase date, if you either sell the home or it ceases to be your primary residence, the tax credit must be repaid to the Internal Revenue Service.

Also see http://www.federalhousingtaxcredit.com/
JoAnn Papsidero Srein - 772-237-6218 email JoAnn@myFLdreamhome.com

Foreclosure…Pre-Foreclosure…Short Sale… What’s the Difference?

2009-09-12T15:02:00.005-04:00

I would like to help educate you on the current real estate market so that you can easily understand market conditions starting with the terms “Foreclosure”, “Pre-Foreclosure” and “Short Sale”. All of the terms have one thing in common. The mortgage (debt) on the property is at risk to a lender or note holder.

First, Let’s talk about Foreclosures:

A home “in” foreclosure is a home where the seller has not been able to pay the mortgage and it has been scheduled for an actual foreclosure date. These dates are always the first Tuesday of every month. In Florida, it is not a court hearing. In Florida, the bank can actually file notice to foreclose, set a date, and the home is sold on the courthouse steps on that date. In most cases, the bank that you have your loan with will send a representative to actually purchase back the home. No matter what you hear on television, homes are not being sold for pennies on the dollar to whoever shows up with the money. These homes are now “foreclosed” properties and OWNED by the bank. The bank will turn these properties (sometimes called REO properties) over to a Realtor who will list the home for sale, and enter that listing in the multiple listing service (MLS). This service makes the home available to hundreds and thousands of agents, and thus to people searching to buy a home. If you have an agent representing you in your home search, your agent would prepare a normal purchase and sale offer and present it to the agent who listed the property, who in turn will present the offer to purchase to the bank that owns the property. The entire transaction is handled exactly like a “normal” purchase and sale would be, with the exception of a few requirements the bank may have to accept offers.

There are rumors that you can purchase these homes for pennies on the dollar. However, once the bank has taken back possession of the property they are even less likely to consider ‘low-ball’ offers to purchase. Why? Because they not only have the balance of the loan on the property, they have also spent thousands of dollars to hire attorneys and assumed all the costs of the legal proceeding to have the home foreclosed, and re-purchased. If you would like to purchase a home listed and owned by a bank, the best advice is to offer as close to the asking price as possible, assuring a more receptive response to your offer, and more serious consideration.

Now, let’s talk about Pre-Foreclosures:

You are searching the internet and you find a listing that says “pre-foreclosure”. What does this mean? It means that the home is still actually owned and may be occupied by someone who is in danger of foreclosure because they cannot pay their mortgage. The home has not yet been sold back to the bank at a foreclosure sale.

Offers to purchase will be presented by the agent representing you to the actual Listing Agent, who will present the offer to the actual seller/owner of the property. The bank is not involved in this negotiation. These properties could be the most likely candidates for the “good deal” because the sellers are desperate not to have a foreclosure on their credit. Assuming that there is enough equity to pay for the sale and pay off their mortgage note, they will most likely accept thousands less than in a normal market to avoid the loss of their home altogether.

In some cases however, sellers do not have enough equity to cover the expenses of selling and pay off the note. It could be that in their neighborhood prices have dropped, or they haven’t owned the home long enough to build up equity. What can a seller do when they owe more on the home than it can be sold for? The answer is a Short Sale.

Which is our last topic Short Sale Listings:

A short sale is one in which the bank having knowledge of the seller’s distress and the current market conditions of this particular property, will actually accept a lesser payoff so that the home can be sold and they can avoid the costly foreclosure process. It is an offer to purchase a home, BEFORE it is scheduled for foreclosure, for much LESS than the actual mortgage balance on the home. How does this work?

Imagine you are the bank. You already have thousands of homes and you do not want to foreclose on any more homes. The home in question is in a very slow market, or the value has dropped for whatever reason. The homeowner has not paid the mortgage note for several months. You now have to spend money to hire an attorney to proceed to legally foreclose on the property. Then you will have yet another home to put back on the market. You already know that the value has decreased. You already know that the market is slow. You realize it may take months to sell the home, and that it will have to be sold for far less than what you have spent on the home considering the mortgage balance, and the expenses of the foreclosure. In addition, you now have to pay an agency to market and sell the home, costing you even more money. To accept an offer to purchase this home, for even thousands below the mortgage balance owed, is a smart and acceptable deal for the bank. In doing so, they avoid the extra costs involved in the foreclosure process. These can also be attractive deals to the buyers looking for a “good deal”. However, we must warn you that this is a long and bumpy road that requires patience and flexibility. This is not the opportunity for the home buyer who needs to locate and close on a home in 30-45 days. In some cases, the deal can fall apart mid-stream and you would have to walk away and begin your search all over again. If you are determined, patient and flexible this could be worth the effort and the wait.

On a final note, don’t believe everything you hear. There are no “secret” listings that are only available to real estate agents, or those who are willing to pay for information on the internet. If there’s a property owned by a bank in our area it is LISTED and available for sale to any agent with a buyer.

Bottom Line…what is the BEST way to get a great deal?

You Should Be Pre-Approved. Before you begin your home search, find a lender and get a valid pre-approval letter. This is one step beyond being pre-qualified. This not only helps you decide the correct price range for your search, it assists your ability to have your offer seriously considered by a seller. An offer with a letter of pre-approval could very well be accepted over a higher offer which does not. A good lender or mortgage broker worth his salt will know what constitutes a VALID Pre-Approval. I recommend my company for this service as the owner of People's First Financial Services. call JoAnn Papsidero Srein at 772-237-6218 or email me JoAnn@myFLdreamhome.com

Should I Sell or Buy First?

2009-09-12T14:59:00.004-04:00

Should you buy first or sell first? This is not an easy decision. There are a number of factors to consider before deciding which is best for you. Most people try to buy and sell simultaneously, which is the best way to go for many people - if the market cooperates. But ultimately you will probably have to decide whether to accept an offer on your home before you find a new one - or to buy a new property before your current home sells.

Can you carry both properties?

If you buy a new home before your old one is sold you'll be faced with carrying two mortgage payments for an undetermined period of time. Can you handle this financially? Will you be able to fund the down payment on your new home without the sale proceeds from the old one? If your income is sufficient to carry the payments, a bridge loan may help you get through this period.

Are you willing to rent or live with relatives?

If you accept an offer for your home before you've bought a new one you may have to move into a short-term rental until you find something to purchase, or move in with a relative. Are you prepared to move twice, with all the hassle?

Contingent contracts?

The ideal situation is to make the first contract contingent upon the other. For example, you agree to purchase a home but not to close until you've sold yours. Unfortunately, few sellers will agree to this kind of condition (and few buyers will agree to wait until you find a new property). You may be able to negotiate the right to stretch out the closing date by a reasonable period, however. This gives you more time to try to match up the closing dates.

Buying new construction?

Purchasing a home that is under construction (or not yet started) gives you considerable time to sell your existing property. Don't forget, however, that you are committed to close on the new house when it is completed. Make sure you are able to do so even if you do not sell your present home - or if you have to cut the price to do so.
if you have any further questions you can always call JoAnn Papsidero Srein at 772-237-6218 or email me at JoAnn@myFLdreamhome.com

What Mortgage Lenders Are Looking For

2009-09-12T14:56:00.005-04:00

Recently an applicant contacted me who is a first time homebuyer. She had no idea where to begin on the loan process. Even if I believe the person will not qualify for a mortgage at this time, I try to educate the person in order to prepare for the future.

The following are a few tips I use to help you get started in your quest for a mortgage for your home purchase:

There are 5 criteria for mortgage underwriting: I call this E-CASA

1. Equity – How much money you will be putting down (down payment).

2. Credit – You will need a credit score of 620 or higher as well as anyone else who will be on the loan application. Bankruptcies need to be discharged 2 years ago for FHA and 4 years ago for Conventional. If you had a foreclosure, it will be extremely difficult at this time to obtain financing for a home.

3. Ability – The ability to pay the loan back – what your current debts and future debt (house payment) are compared to your income. This is called debt to income ratio.

4. Stability – How long you have been on your job or in your field of work – Generally a lender wants to see a two year work history in the same field with no gaps in employment.

5. Assets – How much money will you have left after the loan is closed? What is your net worth? The more assets you have shows your ability to save money. Do you have any overdrafts on your bank statement? Do you take your account down to the last cent every month? If you do, you will not be able to show that you can handle a larger payment each month.

If any of these basic 5 areas are weak, the loan has to have a compensating factor for the weak area.

A consumer may pull their own credit report once a year at http://www.annualcreditreport.com/. The Federal Trade Commission made it possible for you to do this to keep tabs on your own credit profile. Your credit score is not lowered if you pull your own credit report.

Start by getting your credit report to see what your profile looks like. That is the best place to start. If there is derogatory credit, you will need to start repairing it.

Let me know how you make out on the credit and remember you can always call me for some credit repairing advice. JoAnn Papsidero Srein 772-924-0515 or email me at JoAnn@myFldreamhome.com

Why Should I Get A Pre-Approval? I Have Excellent Credit And I Know I Will Qualify!

2009-09-12T14:54:00.004-04:00

In the last couple of weeks I have heard this so much! I cannot stress to a homebuyer enough that there is even more of a reason now to get a pre-approval than ever.

A gentleman telephoned this week in need of a mortgage for a second home in Florida. He is currently working with a Realtor and he has already obtained a home inspection - meaning he has already spent money out of his own pocket. He stated that he has excellent credit scores (over 800 and that is excellent) and that he won't have a problem getting a mortgage. That may be true - 2 years ago! What once was, is not true for today. He only has 10% to put down on his Second Home that he is under contract to buy. He needs 20% down. He has called all over the state of Florida trying to find a lender who will lend him 90%. Unfortunately, he most likely will not find one. Lending guidelines change so rapidly in our state as we are one of the states in the top 3 for foreclosures right now. RISK! The gentleman could have avoided spending money needlessly and wasting his time and the Realtor's time if he would have secured his financing first. Why shop for the largest ticket item you might ever purchase without knowing how you will pay for it and how much you can spend?

NOW...What is the difference between a Pre-Qualification and a Pre-Approval?

You may not know that there is a difference. Some real estate and mortgage professionals do not know that there is a difference!

A Pre-Qualification is based on simplified information that you tell a mortgage professional. Sometimes your credit report is obtained and other times it is not. The loan officer is going strictly off of what you have told them.

A Pre-Approval means that you have made application, you have given the loan officer your paystubs, bank statements and tax returns and your credit has been obtained by the lender. Your information has now been "verified".

I take it a step further and run the loan scenario through the FannieMae Desktop underwriting system since FannieMae is the actual investor supplying the funds for the purchase. FannieMae also provides the guidelines for which to obtain financing to the particular borrower. We supply the Realtor with the FannieMae Pre-Approval along with the pre-approval certificate. The loan is then subject to Appraisal and Title report on the property only. The buyer and his credentials are "good to go". That is what every Realtor and Home Seller wants to hear.

It may be a more conservative approach for the buyer, but you can bet he will not be embarrassed if he contracts on a house and cannot obtain financing afterwards. It's a great time to buy! Get a pre-approval before you start to look and call JoAnn Papsidero Srein to make it happen! 772-924-0515 or email me at JoAnn@myFLdreamhome.com

New Loan Programs for Refinancing

2009-09-12T14:51:00.005-04:00

Want to get in on the low mortgage rates but don’t think you can refinance because you have little to no equity???

Think again!

New loan programs just rolled out for homeowners who have been making their mortgage payments!

Do you have an interest only mortgage or an adjustable rate mortgage now? This program is for YOU!

You can refinance up to 105% If you have no mortgage insurance now you will NOT have it after the new loan! Even if you have a second mortgage you may still qualify for the refinance. (Call us for more details)

The new Fannie Mae and Freddie Mac loan programs are designed to reward those homeowners who have been toughing it out making their payments on time in this market and who want to take advantage of the lower rates of today to lower their payments.

Call JoAnn Papsidero Srein today for more information. 772-924-0515 or email me at JoAnn@myFLdreamhome.com

How Can I Get Money for a Down Payment to Purchase a Home in 2009?

2009-09-12T14:50:00.004-04:00

IMPORTANT: Even if you use the IRS 2009 Tax credit, you will STILL need to have 3.5% of your own money for an upfront down payment according to HUD guidelines!!!

In regards to FHA loans, a borrower can only obtain monies for their actual down payment of 3.5% by the following :

– Your own funds in your bank account seasoned for two months.

– A 100% gift from a relative/family member.

– From an FHA approved non-profit Federal, state, and local governmental

– Monies from your employer in the form of employee contribution

– Monies from secured borrowed funds, i.e. borrowing equity from your home to buy another home or borrowing against your car that is free and clear or borrowing from your 401-k, etc.

Specifics on the $8,000 First Time Home Buyers Tax Credit -

First Time Homebuyers – Definition of a first time home buyer - someone who has not owned a home 3 years previous to January 1st, 2009. This tax credit is good for any first time homebuyer buying after December 31st, 2008 and up to November 31st, 2009. Per the irs.gov website, you may qualify to receive this credit if you meet the following:

"... qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.

The amount of the credit begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.

For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase."

The $8,000 tax credit was revised in the 2009 stimulus bill.

Here’s what you need to know:

– The maximum tax credit is $8,000 for either a single taxpayer or a married couple filing jointly. It is 10% of the purchase price. So in order to get the maximum credit, the purchase price must be $80,000 or more.

– The $8,000.00 tax credit can’t be used if you are buying a home from a close relative, which is to include a spouse, a grandparent, child, or even a grandchild.

– You can only use this tax credit for your primary home, not for a second home or an investment property.

– Purchasers who utilize revenue bond financing can use this $8000 credit. – If you sell your home within 3 years of the purchase date, the entire credit is recaptured.

There are a few ways to obtain this $8,000 tax credit for first time home buyers. You can certainly file for your monies after you buy your dream house or you can file an amended return if you buy your home after April 15th.

NOW is the best times to buy a home. Here are a few reasons why.

– Home values are down in many areas

– So many foreclosures to choose from especially in our state

– Mortgage interest rates are low - interest rates fluctuating from 4.5% to 6.00%

– $8,000 first time homebuyers tax credit - Up to $8,000 depending on your purchase price

Call me if you have any further questions 772-924-0515 JoAnn Papsidero Srein - Mortgage & Real Estate Professional & Florida Realtor

Uh Oh...I Need More Money to Close on My House!

2009-09-12T14:47:00.005-04:00

What happened? You got an "estimate" of your closing costs to close on your new home. You go through all the motions of obtaining financing. You get to the closing table or maybe you were lucky enough to know a day ahead that you don't have enough money to close the transaction. Has this happened to you? What do you do? Many times borrowers are faced with the dilemma of where to find the money at the last minute. The most recent person to call us was $1500.00 short and we were not involved in the transaction! In 33 years in the mortgage business we've learned that there are others in the industry that are not as professional as they appear to the unknowing consumer.

An estimate is just that...an "estimate". In today's society we've all learned to look for bargains. When you are looking for a contractor to work for you, you will most likely want the lowest estimate. The low man usually gets the job. Consumers look for the same in financing. You "shop" for your mortgage gathering three or more estimates. How do you choose which mortgage company you are going to use?

Here's the problem...Consumers are often led astray by understated Good Faith Estimates and the fees change at a later time to something more objectionable. It is our experience that if a loan officer or mortgage broker has been in the business for any length of time, he should know how to "estimate" the expenses associated to closing on the home.

Where Estimates are Understated:

1. Taxes & Homeowner's Insurance - To accurately disclose he should know a little more about the property such as what the real estate taxes and the homeowner's insurance costs are. We do the homework on the property before we release an estimate. In Florida, we will often OVER estimate the homeowner's insurance for a worse case scenario. The buyer sometimes will find his insurance at a more reasonable cost and his expenses are lowered.

2. Escrow Accounts - If a professional has closed enough loans, he knows how many months of taxes and insurance need to go on the estimate!

3. Additional junk fees or higher fees than anticipated. This area seems to have the most abuse in underestimating. The loan discount fee, loan origination fee and mortgage broker fee should not change without the borrower's knowledge. If the loan amount has changed or the borrower chooses to pay an additional discount fee to lower his interest rate, a new estimate should be delivered and signed by the borrower to acknowledge the change. This procedure is required by HUD and federal law (RESPA)!

Why did your mortgage professional underestimate your costs? Simple! He either is new to the industry and just "didn't know" OR he just wanted the job. A poor salesman will tell you what you want to hear and worry about the consequences later. You won't know until the end. What will you do? Walk away from the table or fork over the additional funds? Neither is fair!

Make sure you are not the next victim of Bait and Switch. Better call JoAnn Papsidero Srein - 772-924-0515 or email me at JoAnn@myFLdreamhome.com
JoAnn Papsidero Srein

Bird's Eye View of Closing Costs

2009-09-12T14:45:00.003-04:00

CLOSING COSTS!

The amount you borrow to actually buy your house is one thing; the fees required to close the transaction are quite another, and they amount to from 3 to 5 percent of your loan amount depending on when you close on your home.

At the real estate closing, you will be given a stack of paperwork that shows the loan fees line-by-line. (You should already have seen these fees estimated in your "Good Faith Estimate", but they might vary.) The fees below are generally what will be required, but every buyer will not pay every fee listed. For example, maybe you worked a deal with the seller to pick up part of the closing costs. And there are many geographic differences. Finally, all lenders do not charge every fee shown.

Commissions: Payment for the work real estate agents have done. Traditionally it is 6% of the sales price split between buyer and seller agents; usually 3% to buyer's agent, 3% to seller's agent. The seller usually pays these. Note: These costs are not included in your lender's Good Faith Estimate.

General Loan Fees

Appraisal fee: The lender hires an independent appraiser to determine whether the property is worth the sales price you've offered for it. Expect $300-$400. It can be higher or lower, depending on the size of the property and appraisal fees in your area. Investment property appraisals run higher as more forms of information is required by the lender.

Credit report fee: Covers obtaining a credit report to determine whether you are an acceptable credit risk. It averages about $25 per credit report checked. This report also includes your credit scores.

Interest: Most lenders require the buyer to pay the interest that will accrue on their loan from the date of settlement to the first monthly mortgage payment due date.

Lender's inspection fee: If you are building a new home or buying a home that's under construction, the lender may charge an inspection fee, usually under $100. This pays for an inspection by the lender or outside inspector of your house or property.

Loan origination fee: Fee for establishing a new loan. It is paid to the lender for originating the loan. The fee usually varies from 0.5% (half a point) to 2% (two points) of the loan amount.

Loan discount points: Refers to a one-time charge imposed by the lender or mortgage broker to lower the interest rate and therefore the monthly mortgage payment. The more points paid up front, the lower the interest rate. The loan discount is also called "point" or "discount point."

Mortgage broker fee: Paid to a mortgage broker, typically in a commission based upon the amount borrowed. Same as Origination fee.

Mortgage insurance premium: Some lenders require borrowers to pay their first year's mortgage insurance premium up front. Other lenders ask for a lump sum insurance premium payment at closing that covers the life of the loan.

Processing fee: Charged by the lender to cover costs associated with the processing and closing of a mortgage loan.

Escrow Account set up / Reserve account funds: Your monthly mortgage payments are likely to include a pro-rated amount to cover payments for property taxes and homeowners insurance. This money is held in a "reserve" or "escrow" account by the lender who makes the payments for you. At closing, your lender may require you to advance just to be sure the reserve fund has enough money to pay the bills.

Tax-related service fee: Paid to set up a service which identifies the payment due date of local taxes for the servicer of the loan.

Underwriting fee: Covers the final analysis and approval of the mortgage; often the lender's cost to the investor that will subsequently purchase the loan.

Wire transfer fee: Covers the cost of wiring the money around, which is usually done by escrow.

Insurance and Taxes

Annual assessments: If you will have annual assessments made by your condominium or homeowners association, you will have to pay two months' up front.

Flood insurance premium: Lenders may require flood insurance, with the premium paid at closing, depending on the property location.

Homeowners insurance premium: A homeowners insurance policy protects the lender (as well as the owner) against loss of the house from fire, wind, or other natural disasters. Usually the buyer pays one year’s premium payment at closing.

Taxes: Buyers pay two months' worth of city property taxes and two months of county property taxes at closing. This depends on your area.

Title Charges
Attorney fees or closing fees: Varies, but could be $200 to $500 or more. In some parts of the country an attorney, not a title company, handles closing, and sometimes an attorney is hired by the lender to review certain documents.

Notary fees: Pays for the notary public who witnesses that the signatures on closing documents are made by the people named in them. Not typically used in Florida.

Title insurance fees: Average is $350, but could be as high as one percent of the loan. Title insurance is a policy that protects the owner and/or lender by guaranteeing the title to the property is clear.

Title search & Exam: About $50-$100. A search is done to make sure there aren't any unpaid mortgages or tax liens on the property.

Government Recording and Transfer Charges

Courier fee: Charged if a courier picks up and delivers documents.

Pest inspection: Depending on location, a termite or other pest inspection may be required.

Recording fees: Average for Florida is about $180. This covers getting the sale recorded in the public record.

Survey: About $300-$400 for a survey of the property boundaries. Depending on the size of the lot.

So you see, it's more than just the down payment. You will need additional funds for closing costs that add up if not negotiated in your sales contract with the seller.

Don't let the costs scare you out of buying a home...NOW is the best time to buy! Rates are low, home prices are the best since property values have come down. Don't miss out and stay on the fence. Your dream home could be waiting for you right now!
Call JoAnn Papsidero Srein for you rmortgage and real estate needs 772-237-6218 or email me at JoAnn@myFLdreamhome.com

2009-09-10T09:28:00.003-04:00

PRESS RELEASE

September 8, 2009 JoAnn Papsidero Srein

RE/MAX MASTERPIECE REALTY WELCOMES NEW ASSOCIATE

PORT ST. LUCIE – RE/MAX Masterpiece Realty is pleased to announce that JoAnn Papsidero Srein has joined their real estate company located on Gatlin Blvd. in West Port St. Lucie. Formerly with Golden Realty Group of Brevard in Melbourne, Srein has been a licensed REALTOR® for nearly 5 years and in the real estate finance industry for 14 years.

Raised in Fort Pierce and Stuart, she has been a Treasure Coast resident for 24 years. She earned a Bachelor of Science Degree from Hyles-Anderson College and has owned a Mortgage Brokerage Business in Brevard County. She is a member of the REALTORS® Association of St. Lucie, Melbourne Area Association of REALTORS®, The Florida Association of REALTORS® and the National Association of REALTORS®.

Srein specializes in residential sales, first time home buyers, short sales, foreclosures, lots, land and new construction. She is a sponsor of the Children’s Miracle Network, donating a portion of each of her closings to Shands Children’s Hospital in Gainesville, and is also a sponsor of the American Little League. She is involved in music ministry in the Spanish Department at First Baptist Church. She is proud to announce that her son recently enlisted in the US Marine Corps after graduating from high school.

You may contact JoAnn Papsidero Srein at her office at 1775 SW Gatlin Blvd., Suite 101 at the corner of Gatlin Blvd. and Import Drive. Her direct number is 772-237-6218
or e-mail, JoAnn@myfldreamhome.com. Website: http://www.myfldreamhome.com/
Blog http://www.lifeinstlucie.blogspot.com/

How To Raise your Credit Score

2009-09-07T20:42:00.004-04:00

Often I receive calls or emails from mortgage applicants whose scores don't quite make the mark for obtaining a mortgage. I prefer to coach my clients in how to raise their credit scores so that they would be more likely to call again in the future once they are closer to obtaining financing. Recently I received an email from a an applicant who had $25,000 for a down payment. That was great news! But the news turned quickly when the applicant informed me that his credit scores were in the low 500's. With credit being so tight in today's market, you might have 50% or more down payment but with a low credit score it could keep you from buying your dream home. The following are a few tips I was able to relay to this applicant in hopes of helping him achieve his goal:

Currently the FHA guideline is requiring a 620 and higher credit score. If your credit score falls below this benchmark, you will definitely need to work on your credit scores before officially applying. Some tips to help you improve your score:

If you have several student loans, there is a way to consolidate your student loans to get one, low payment. We've had customers able to do this for a one time deal with the creditor.

Pay off any collections if you have any. Try to make settlement with them. Some will accept less than the balance. You've got to ask. Keep receipts and good records of everything you pay off that is delinquent. My experience has been that some collection companies collect their money and then do not update your credit file. This is why you need to keep good receipts. Copies of cancelled checks stored with the offer/bill from the collector

It is better to have two credit cards with half the balance used than to have one credit card maxed out to the limit.
Try not to apply for any new credit cards whether they be store cards or major credit cards.

Do not shop for a new car. They inquire on your credit. If you move to a new place or make changes, electric companies, phone companies, cell phone companies, car insurance companies will put your credit as well.

If you have any lates on your report (30 days or more) it just takes time for those to get farther behind you. The best thing to do is not be late on anything in the future.

Start by getting a copy of your credit report for free. There are 3 bureaus that need to be obtained as they all report different accounts. Meaning, you could have one account that reports to Experian but not to the other two and vice-versa.

If you do not have a copy of your credit report, the government has made a website where you can pull your own for free once a year and it does not hurt your score if you pull it yourself. http://www.annualcreditreport.com/. If you get started on this now straightening out your credit and then look at your report a year from now - (normally how long it takes to improve). Check against your records to make sure they match all that you've done over the past year.

If have limited credit - not a lot of credit, FHA will use your rental records, car insurance payments, cell phone bill, utility bills, and any other items in your named to build your credit just for the purchase transaction...not for your official credit file.

The main item of business is to get your credit score higher. You can request to be added to the monthly e-mail newsletter so you can get updates on credit guidelines, industry changes, tips on purchasing, refinancing, etc. You can opt out at any time if you wish. the email address to request to be put on our free e-mail mailing list is JoAnn@myFLdreamhome.com Call for more information JoAnn Papsidero Srein 772-924-0515