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2 Feb

Home Warranty Companies in Florida

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Every homeowner as well as home buyer in Florida knows that buildings in the state require a lot of care and all the protection you can provide due to the extremely high humidity level. Home warranty is one of the tools that help protect you by covering the high costs of home system and appliance repairs. For buyers, this is another layer of protection that reduces the risk of potential high expenses after moving to a new property.

Similar to insurance, a home warranty will pay for repairs of the covered items. Therefore, to benefit from this plan, you need to choose the coverage very carefully. It’s also essential that you research the provider’s reputation because not all home warranty companies can be trusted.

Top 5 Home Warranty Companies in Florida

Due to the high demand for this type of service, the vast majority of leading US home warranty providers operate in Florida. Considering coverage limits, trustworthiness, and transparency, some of the best among them are:

  1. Select Home Warranty
  2. First American Home Warranty
  3. 2-10 Home Buyers Warranty
  4. Choice Home Warranty
  5. Total Home Protection

The actual number of home warranty companies in Florida is much bigger, so looking for the right option for you will take time. In this industry, it’s essential to research the provider’s reputation to make sure that it can be trusted.

You also should remember that many providers offer only a few plans, so their coverage options might be limited. You’ll need to compare both companies and plans to find the one that will benefit you most.

How to Choose the Best Home Warranty Company in Florida for You

The market share distribution of home warranty companies is extremely uneven. There are about 180 providers in the US, yet nearly 80% of the market belong to the top ten veterans of the industry.

But this doesn’t mean that small young companies cannot be trusted. When choosing a provider, you should be focusing on those that are covering all of Florida. The company has to be well-represented in every part of the state and have a large network of highly-qualified local contractors. Its presence in other states is irrelevant as long as the company is certified and authorized in Florida.

Once you ascertain the provider’s legal status in the state, start researching its online reputation. Look up independent review websites and consumer forums, like Yelp. You should also look online for news about the company to see if it’s been involved in any public scandals or charged with fraud.

The final test is to study the plan itself, as well as the contract. What exactly does the plan cover? What is the coverage limit? How do you file a claim? How much is the service call fee? Are there any additional fees? How fast will the company pay after the claim? What are the grounds for claim denial?

Find answers to all these questions and make sure that the terms and conditions offered by the company are straightforward and fair. Never shy away from asking for clarifications and explanations from the staff before you sign the contract. Doing that will also help you to evaluate the level of customer service the company provides.

In Conclusion

Home warranties can be a great help to homeowners, and especially home sellers. Properties with this coverage are said to sell 11 days faster on average and for more money (about $2,300 per deal). Plans on offer vary greatly, from those that cover only appliances or only structural home systems to plans designed specifically for home buyers. Florida is a state with the greatest variety of options, so take your time studying them to pick what’s truly best for you. And remember, every person’s situation is unique. Therefore, what’s best for your friend or neighbor isn’t necessarily what will be best for you.

15 Jul

Popular Flooring Options for Ocala Home Builders

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Are you ready to start designing your new home with a professional Ocala home builders? Flooring will be one of the most important material selections you make. Get the flooring right and set the tone in every room. Before you get started with your new home construction, consider the advantages of these popular flooring choices.

Ceramic Tile Flooring – A Durable Classic

Ocala Home BuildersCeramic tile is hard, it’s versatile, and it’s available in an entire range of designs. Quality of ceramic tile ranges from entry level to luxury, so there’s plenty of choice for any room.

Variety is one of the biggest advantages of this type of flooring. You can work with Ocala home builders to create unique tile designs for every space. Color options are extensive, as are printed patterns and tile shapes and sizes.

Tiles are heat resistant, stain resistant, and water resistant. They’re popular in bathrooms and kitchens but can work in any room. It’s possible to combine whole home tiling with rugs and floor runners. This will allow you to enjoy the durability benefits, while maintaining a luxury feel on new floors.

While ceramic tile is affordable to buy, the installation costs can be high compared to other floor coverings. These initial costs will be offset by unrivaled durability. It’s not unreasonable to expect ceramic tiles to last the lifetime of your home.

Talk to Ocala home builders about your tile options today.

Hardwood or Engineered Wood Flooring – Unmistakable Beauty

Hardwood has long been the luxury choice for discerning homeowners.

A wood floor in your new home will create a look of elegance like no other material. Oak is the most popular species for flooring, and it’s one of the most resistant to pests. Other popular options include cherry, maple, walnut, mahogany, and ash.

Wood flooring could last the lifetime of your new home. But, maintenance will be necessary. Wood floors need refinishing every 8 to 12 years. Using wood in an entryway could be risky, but you can offset wear by installing long runners and mats.

Solid wood flooring is not the best option for areas exposed to moisture. In your kitchen and bathroom, engineered wood would be a better alternative.

If you want the ultimate luxury aesthetic, solid wood will be the most obvious choice. Aside from solid wood, you could also choose engineered wood flooring. Ocala home builders can work with engineered planks at lower cost, which could keep your total build budget down.

Engineered planks still use a solid wood surface, and most products can be refinished once. These planks also resist moisture better than solid wood.

Luxury Vinyl Tiles – Great Aesthetic on a Budget

LVT, or luxury vinyl tile flooring, is a frequent request for Ocala home builders. This is one of the fastest growing flooring materials worldwide. Homeowners love the quality, look, feel, and affordability.

Several layers of material are bonded to make LVT, resulting in a solid and premium feel. Lack of maintenance is a big advantage of LVT. Cleaning is as easy as sweeping, mopping, of vacuuming. Quality tiles will last up to ten years or even more.

Like ceramic tiles, LVT comes in a range of colors and patterns. Your design options will be near unlimited. This makes LVT ideal for every room in the home, including bathrooms and kitchens. The material is impervious to moisture, so it won’t rot or grow mold. Odor will never be a problem with LVT flooring.

Keep in mind that quality ranges significantly when it comes to LVT. Spend a little more and you will enjoy a premium product that will last for years.

LVT is also available in planks, allowing you to recreate the look of a hardwood floor.

Design Your Own Floors with Ocala Home Builders

Flooring is important, which is why it makes sense to invest in a new construction home. You’ll have complete flexibility in flooring choices when you work with Ocala home builders.

27 Jun

Best Stuart Florida Homes and Neighborhoods

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Stuart is one of the most beautiful places in Florida and, offers miles of unspoiled coastline, with pristine beaches, plus, breathtaking views of the Atlantic Ocean, year-round. Stuart is a quaint beachy town, with friendly people that enjoy a laid-back lifestyle, focused around being outdoors. You will find old-world charm, mixed with a unique blend of modern comforts, and seaside living.

Not to mention that Stuart is in Martin County, which boasts an A-rated school system with some of the highest test scores in the entire state. Many families are drawn to the area for this reason and, are pleasantly surprised to learn about all the other wonderful things in to do.

A few years ago, Stuart wasn’t a well-know destination for new home buyers, but that’s changed with an influx of people looking to retire in an affordable waterfront community.

Let’s take a closer look into why Stuart, FL is attracting more people then ever to the city, and why home sales and, home values, are increasing year, after year.

What Types of Homes are in Stuart, FL?

There are many different types of homes for sale in Stuart, FL in 2019. Although located near the water, you won’t need to by a mansion, or spend millions to enjoy all of what this city has to offer. Buyers can choose from Real Estate options such as; multiple communities with single family homes for sale, new construction properties, gated communities and, condos for sale in Stuart as well.

All the Real Estate in Stuart has increased in value the past few years, due in part to the positive economy and, being a desirable place to live.

New Construction Homes

New Construction Homes

Although Stuart has old world charm, it also offers some brand-new construction homes and neighborhoods. Some folks even buy waterfront, or dry lots and build a spec home to suit their exact needs. Either way, this is the best value in Stuart when it comes to working with a home builder because you can still find deals on lots, in great locations, for reasonable prices. Then, building a brand-new home gives you many benefits lie; home warranties (typically 10 years), brand new construction technology, and of course, everything is brand new.

Sewall’s Pointe

A small city that is over 100 years old and boasts some of the most amazing homes, mansions really, in the world is Sewall’s Pointe. Located just east of Stuart Florida and set directly on the St Lucie River and the Atlantic Ocean, gives this city an upscale zip code that residents call home.

Having a historical home within Sewall’s Point does come with a cost, since the lowest priced home is around $500k, and the most expensive is over $10 Million.

Those lucky enough to afford this wonderful city will own a part of history and enjoy the local entertainment offered by the Treasure Coast!

The Florida Club

For those people who appreciate golfing and want to live within a Stuart community featuring a Championship Golf Course, The Florida Club is the perfect community. The Par 72 course was designed to offer all levels of play and has a putting green for the youngsters to practice on too. However, those looking for a challenging game of golf will love the expertly designed course with water holes, sand traps and long par 3’s.

The homes in Florida Club are larger and typically have a minimum of 2,500 sq ft under air, up to 3,800 sq ft. These days properties are selling in the mid $500’s through $1Million, depending on the size and location on the course.

Conclusion

There are some exiting places to live on the Treasure Coast which offer residents a safe and secure place to live. Plus, families have many affordable choices in properties to buy and can easily find a great value in some of the newer neighborhoods. Moreover, people that wish to live on the water, or at least appreciate all that seaside living has to offer, will adore Stuart Florida.

15 Mar

10 Things to Consider When Planning to Buy A Home

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Being a homeowner is everyone’s dreams and ambition. Indeed, home ownership is a big commitment. However, the process of purchasing a home can be such a daunting and overwhelming experience for any individual. If you are planning to purchase a house, you need to know what you are getting into. Here are 10 essential steps to consider, when you feel ready to buy a home:

Where Do You Want to Live?

Decide where you want to live before buying a home. When deciding on the location of your new home, consider your future career aspirations about the local job market.  Buy a house within a city that you intend to stay in for a very long time and that which meets your career goals.

Other things to consider may include the cost of living within that area, its demographics and accessibility to public means of transport. Choosing the right location will help you avoid the enormous costs that come along with moving to a new place.

Determining the best time to buy a home is also an important consideration which you can find information on here.

 What’s Your Budget?

Once you have decided on the location that best suits you, the next step is conducting thorough research on the type of home that will fit your budget; this provides you with an overall idea of the types of properties that are currently available in the market and their pricing.

You will also want to go through some different mortgage calculators that will help you in determining the max purchase price you can afford on your home.  These will take into consideration your monthly income and all expenses that you currently have.

This part is very important because you don’t want to be ‘living for you house’ as they say.  If all of your extra income every month is going toward you mortgage payment you won’t be able to enjoy doing other things in life.

Boost Your Credit Score

For you to qualify for a mortgage, your credit score forms an essential aspect in the evaluation processes.  Higher credit scores increase your chances of getting the best interest rates. However, if you credit score is to low you may not even qualify to get a loan.  It is therefore critical to check your credit report early in advance and address any issue that may come up with the relevant authorities.

 Start Saving for A Down Payment.

You are not just required to build a good credit score but also to make savings such that you are in a position to make a down payment of about 5% (could be lower) of the property that you intend to purchase.  The only way around a down payment will be if you get a VA loan in which they will use a funding fee that is added to the loan instead of a down payment.

This 5% does not include other fees that may come up that you must pay (e.g. Closing Costs).  It is important to have this amount of money saved before trying to purchase a home because the lender will not let you pay for this with a credit card and you must already have the money in your account for a few months prior.

 

Get Yourself the Right Real Estate Agent

It’s now time to cement the deal! Get yourself a real estate agent that you trust and who you’ll be comfortable working with. This does not, however, prevent you from deciding and making a purchase on your own.

The advantage of working with a real estate agent relies on their extensive knowledge of the industry. They will fully represent you and ensure you get the best out of the deal in terms of costs incurred. The best agents can be referred to you by family and friends who have had a positive experience working with them. You can also get in contact with a buyer representative who is accredited within your locality.

Get A Lender with The Best Rates

 The real estate agent you have agreed to work with may come in handy when it comes to choosing the best lender to settle on. He or she may make suggestions on some of them who he has worked with in the past well, but the sole decision will still rely on you. You are required to go around gathering information on loans terms of the various lenders at your disposal. Some of the things to put into consideration at this stage may include interest rates, fees paid directly to lenders and any additional cost.

 Get Mortgage Pre-Approval

 When presenting your intent to buy a home, sellers require a ‘Proof of Funds’ letter that proves you are eligible for a home loan. For lenders to approve your loan request, they have to review your financial documents as well as do a credit check. If you get an approval, they offer you an official document that indicated the amount that you have been allocated.

This process is quick and can be done in a few minutes over the phone with your lender or mortgage broker.

 Check for Houses Over the Internet or In Person

 When looking for a property to buy, you need to conduct proper research over the internet on websites that deal with real estate. Your focus should not solely be on the property that you desire but also in things happening within that locality such as the community, availability of schools, public transport, and shopping centers. After that, you should make a visit in person to the property and conduct a physical examination.

Make an Offer on The Desired Property

The moment you find a property that entirely suits your needs and wants, you are required, with the help of your agent to come up with an offer letter. This reflects the price at which you would like to buy the property and any other term you would want to be part of the deal. You are then required to present the offer to the seller (agent will do this part) and enter into a series of negotiations. At the end when you both agree on all the terms and conditions, a purchase contract is drafted and signed.

Closing on a Home

Before moving to your newly acquired home, you have to ensure that you have in your possession all the necessary documents such as reports on inspection, homeowner proof of insurance and lastly the purchase contract. The lender will provide you with a cashier’s check that will be used in the coverage of your closing costs.

Important documents such as the title deed of the home and mortgage agreement are also required to be signed at this stage. Feel free to get clarification on anything not clear to you from any of the agents present. The property is now officially yours.

If you are a first time home buyer then you may find some other great information on this article.

1 Apr

Five Strategies For Finding The Best Retirement Community

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When you’re thinking of finding a place to live in your senior years, or if you have a loved one in search of a beautiful retirement community, there are plenty of steps you can take to make this a great decision.

It will take some focus on your behalf to find one of the best retirement communities in your area, both to find the best living conditions and to make the best financial decision. This guide will teach you a lot about how this decision can be planned out with diligent, prudent actions.

To get started with finding the perfect retirement community in your area, read on and apply the tips below.

Plan Out Detailed Visits To All The Retirement Communities In Your Price Range

The biggest mistake that people make when looking for a retirement community is that they fail to get a feel for the community in person prior to buying a home within it. Rather than simply looking at a virtual tour or simply browsing the community briefly, you need to plan enough time to truly understand the services and culture.

Key in on the important things, such as whether or not the community is kept clean. This is a health and quality of life issue, so steer clear of any community that doesn’t smell fresh and look impeccable. You should ask them whether they have had any health and safety violations in recent years.

Your visit should be unannounced or on short notice whenever possible, just to get an accurate representation of a typical day in the community. Make note of the level of enjoyment and engagement that others in the community seem to possess.

If possible, speak to a few of the residents so that you can get first-hand accounts of what it’s like to live there. When you visit the communities in person, you’re better able to find a home that will suit you most.

Be Sure That You Choose A Community That Provides For Your Medical Needs

Research the community to look up the licenses of each doctor or other medical professional on-staff. In addition to standard medical treatment, make sure they offer alternative medicine treatments like chiropractic care, acupuncture and massage therapy.

If you have a specific medical issue, be sure that you get the care that will help you to live with it without a concern. Ask the community about their emergency protocol and speak to the doctors onsite when possible.

In addition to looking up their medical credentials and background, be sure that you also review the company’s Better Business Bureau (BBB) profile.

Shop Around And Find Financing To Help Pay For The Home

You’ll definitely need to be certain that your retirement community property acquisition is in your budget. Start by figuring out how much you’re able to finance, which will help you know your budget.

By knowing your budget, it’s easier to find leads and figure out how long your dollar can stretch. It’s important for you to get a new credit report, so you’ll also be able to figure out what interest rates you might receive.

It’s important for you to get your credit score to 700 or above, thought 750 and above is the sweet spot. You’ll need to explore as many options as you can, and give yourself time to negotiate and test the market, rather than jumping on every offer.

Choose a Ocala Retirement Community That Has Wellness And Nutrition Opportunities

When you’re 55 and over, you owe it to yourself to take your wellness into consideration. You’ll be able to ease pain and maintain your energy and well-being by taking advantage of many therapeutic options that retirement homes have.

You’ll be able to find retirement communities that offer great wellness opportunities like group classes and activities, meditation and yoga, walking and hiking trails, exercise facilities and more. The more that you engage in your community and take care of your body and mind, the easier it’ll be to live with tranquility and health.

Make sure that you get a copy of their menu items and find out who supplies their food. Nutrition is a huge part of wellness, so you’ll need to choose a retirement community that has on-site access to healthy and nutritious food.

Touch Base with a Team of Realtors That Can Assist You

Above everything, it’s important that you put together a team of pros that can narrow down your selections. The right broker or real estate professional firm can be your advocate as you find the best deals and handle every matter on the road to landing a great property purchase.

Take advantage of their search tools in order to get accurate listings that are up to date. When you follow these five points, it’s easier for you to find the retirement community for you.

21 Jan

FHA Loan Highlights in Ocala FL

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FHA home loans can be a valuable option for home buyers and home owners in Ocala (and the rest of Florida). There are a number of factors that make FHA home loans unique and sometimes the only choice for certain home owners and home buyers. Below I will point out some of the factors that would make a home buyer or home owner choose a FHA home loan over a conventional loan:

  • FHA only requires a three year wait after a prior foreclosure (conventional requires a seven year wait)
  • FHA loan limits in Marion County are $275,665
  • FHA down minimum down payment is 3.5%
  • FHA still allows up to 55% debt-to-income ratios where conventional with a low down payment is generally about 45%
  • FHA only requires a two year wait after a prior bankruptcy to apply for a FHA loan (conventional loans require a four year wait)
  • FHA loans allow a cash out refinance to 85% of the property value with just a 620 middle credit score
  • FHA loans allow a non-occupant co-borrower
  • FHA loans allow all of the down payment to be a gift from a relative
  • FHA loans require a three year wait after short sale (conventional loans with less than 20% down require a four year wait after short sale)
  • You can get a FHA home loan with as low as a 620 credit score
  • FHA interest rates are not as credit score driven as conventional loans, which means even if you have a low credit score you will get an excellent interest rate
17 Apr

Tips to Improve the Curb Appeal of Your Property

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Whether you’re planning to sell or rent your property any time soon, a fresh and welcoming exterior is one of the most important things that you should consider. From house numbers to front doors, and color schemes to furnishings, basic repairs and landscaping, these tips would help you increase your property’s curb appeal.

7 Tips for Improving Your Curb Appeal

A front door that pops could capture anyone’s attention. Thus, it’s the easiest way to give your property instant curb appeal.
– Deep Red: There’s something good about a red door, it gives the impression of being very welcoming, joyful, and gutsy.
– Gray: Gray can be so dull; however, it also has a little kick to it. In high gloss, it’s pure elegance.
– Bright Yellow: Although yellows could often be too juvenile, a little bit of lime can also make it look sophisticated and elegant.
– Dark Green: Instead of the usual black color, a black-green shade is softer and prettier. Best of all, it’s neutral.
– Golden Yellow: It’s a great color to come home after a busy day at work. It has a baked-in-the-sun look, making it relaxing.
– Gray Purple: If you want something strong and bold, go for gray-purple.

2. Do the Pruning and Planting

Another easy way to increase curb appeal would be to clean up your landscaping. You can always start this activity by pruning shrubs and trees to enhance its beauty. After that, you can do some planting. Trees could create majesty and improve focal points, while tall shrubs can accent and frame interesting features of your house and yard. Not just that, it’s also a great way to conceal those unsightly garbage cans.

3. Big, Bold House Numbers Are In

Considering the fact that it’s so easy to swap out house numbers, this simple change could have a big impact on your property. As much as possible, the house style should blend with the numbers you choose. For a modern house, a clean sans serif will look great; for a cottage, hand-painted tiles will be perfect; and for a Prairie-style home, aged copper is a good choice.

4. Don’t Forget to Wash the Siding

For those who can work safely from the ground or a ladder, then this tip is really worth considering as a DIY project. However, if you can’t, hiring professional help is advised. Maintaining your property is essential if you want it to retain its value, cleaning included. If you’re going to clean the siding, it’s important that you protect the brick walls, stones, plants, and patios with plastic sheeting. Sweep off dirt and work from the eaves to base. Don’t forget to hose off the walls after.

If it’s needed, you should also scrub your siding using a stiff-bristle brush with a long handle. Use a mixture of non-phosphate detergent and water as your cleaning solution. On the other hand, if you’re going to use a pressure water, be very careful and see to it that the nozzle is moving, because if it stays in one place for a period of time, it can remove the paint.

5. Lighting Is Important

Unless your prospective buyers would only visit your property at daytime, then lighting wouldn’t be much of a deal. However, you can’t always be sure of that. Besides, adding new lighting is a great way to make the property pop in the listing pictures. That in mind, you should consider installing a low-voltage landscape lighting to light the walkway, driveway, and you can also consider adding lights on a tree or any part of the property.

6. What Will Your Buyers See at the Front Door?

As a property owner, if you really want your prospective buyers to be impressed, you have to imagine what they’ll exactly see as they walk up to the front of your door. You have to add that extra touch to the front entry point and that can be done by installing a walkway from the curb to the front door.

7. Upgrade Your Windows

You’re probably aware of the importance of washing your windows, however, it shouldn’t stop there. Keep in mind, your windows are the “eyes” of your home, and so you have to put an extra effort on these if you really want to seal the deal. A cost effective way to improve curb appeal is by placing beautiful bouquets in elaborate vases and put them on your window ledge.

Final Words

It doesn’t matter if you’re thinking of selling or renting your property. It’s always nice to give your home a spring refresher, and these simple tips will do just that.

23 Aug

Katrina Survivor Jason Lapene Swims to the Top in Atlanta Real Estate

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Hurricane Katrina changed the lives of many, creating a major effect on the nation. Being one of the most destructive natural disasters in history, over 1,833 lives were lost. Millions of people were left homeless along the Gulf Coast and New Orleans. Even 10 years after Katrina, some are still without homes. The touching story of Jason Lapene is about a man who conquered tremendous hardships after losing it all.

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“I can remember seeing my entire city under water and confused if any of my friends were stuck in their homes. It was so hot, and I was hungry and without water I started to hallucinate and see Tornados coming. Unfortunately, watching dogs pull dead bodies out of the water was not an illusion, a haunting image which stays with me” – Jason Lapene

Like millions of others, there was nothing left for Jason in New Orleans. Coincidentally, a CNN crew filming the aftermath of Katrina was heading to Atlanta. Jason was able to convince the crew to bring him along the ride to Georgia. After arriving, a frightening truth shrouded over him; Jason was homeless, jobless, and without any friends or family. All of his contacts were either in New Orleans or Tennessee. FEMA helped Jason survive, providing him with temporary housing at a local Hampton Inn in Buckhead. Needless to say, he was under intense emotional distress and was financially ruined. Food and a warm bed were the only comfort he had during this desperate time of need. In a completely unfamiliar city, miles away from his home, Jason realized that the only way for him to survive was to reinvent himself.

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Before the devastation of Katrina, Jason was a successful realtor in the New Orleans area. Sought-after, admired and respected, Jason had a flourishing business, specializing in extravagant homes and condos. In a different city, with no contacts or financial stability, Jason knew he had many obstacles in front of him. He made the decision to use the skillsets he acquired over the years and began to study and analyze the Atlanta real estate market. Without money or clean clothes, he went to the local Salvation Army for clothes to look respectable for interviews. Considering how stressful interviews can be, Jason remained strong and stoic, even though he was homeless, hungry, stressed and lacking money. The large brokers in Atlanta told him that he should give up and consider another career, as he was basically starting over in Georgia. The blunt rejections spawned an intense will and desire for Jason to prove that he could salvage his life and overcome these demoralizing obstacles.

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In a spirit of entrepreneurship, Jason decided he would work for himself and acquired his broker’s license. With a background in computer science, he built his Atlanta realtor website to attract prospective clients online. Jason worked ceaselessly, focusing on cold calling and networking. His hard work began to pay off and Clients enthusiastically started to recommend Jason to their friends and family. The same corporate brokers who told Jason that he could not succeed, were now insisting on doing business with him.

Many years have passed since the events of Hurricane Katrina and today, Jason’s business is thriving.  As a multi-millionaire, he uses his wealth to fight homelessness and poverty. Jason received his degree in business from one the top colleges in the south, Georgia State University. At Georgia State University, some of the courses Jason studied included Real Estate Law, Real Estate Development, Real Estate Valuation and Real Estate Principles. Jason’s business specializes in the most luxurious homes, lofts and condominiums in the Atlanta. Jason’s condominiums, lofts and townhomes are ideal for people who are looking for a home that is in the heart of Atlanta requiring, minimal commuting and maintenance. The condominiums are affordable and comfortable, with on-site fitness facilities and relaxing rooftop decks. His website attracts thousands of visitors a month and his business receives referrals on a day-to-day basis. Jason values his relationships, both professionally and personally, treating his friends and clients with the utmost respect and appreciation.

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Jason Lapene is a man who proved that you certainly can pull through life’s most challenging obstacles with hard work, persistence and determination. Jason’s business has created a positive ripple effect, helping the Atlanta real estate industry prosper and providing citizens with the highest quality homes.

24 May

Rental Properties Are Becoming the Thing Of The Past

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rental properties in Ocala flIn our early study of renting vs buying a home I found it difficult to understand why so many people rent so I did more research and here is what I found. It may have been easy to rent a house in the past, though it has not been easy in the past few years, today fewer people are moving out and more people moving into rental properties. All this accounts for the skyrocketing prices and fewer vacancies. The situation may not improve and rather worsen as the rental population will increase but not the properties. There are various factors that have come into play.

According to a recent research by a real estate research and investment organization, over the next decade, 4 million people will be renting in the U.S. and there is a rental crunch with vacancies around 7 percent only. About 50 percent people spend more than 30 percent of their income on housing while 25 percent spends 50 percent and more of their income on housing.  These numbers will change only for the worse over the next decade.

Rising Home Values are not at the same pace as Income

Home values will rise slowly, however, faster than the income, thus affecting affordable housing. The income has been almost stagnant, even though there has been a rise in the job opportunities. This is the reason renting is becoming even more difficult for many families. Inflation is at about 2 percent annually, the number of people burdened by rising rents would increase almost by 11 percent to 13 million in 2025.

Even though there is a rise in home ownership, however, it is not a very significant rise to counter the effect of lesser vacancies in the rental properties. There is a persisting shortage of affordable housing in the existing structures as well as those being constructed.

There has been an increase in the number of Millennial (18-35 years) who want home ownership. In 2011, only 65 percent of Millennial wanted to own a home, while this has increased to 78 percent in 2014, to 80 percent in 2015. Most of them are still struggling with student loans, stagnant job wages, rising rents and home prices.

First-Time Home Buyers will be older

According to study on home ownership in 2016, 50 percent of Millennial and about 18 percent Baby boomers (55+) have saved for a down payment while waiting for a promotion or a raise while 12 percent of Baby boomers are expecting the same. More than 35 percent of Millennial and about 10 percent of Baby boomers have improved their credit history, said Katrina Barone of houses for sale in Ocala fl.

More than 5 percent of Millennial and Baby boomers state increase in rents as a factor in buying a home than renting it. About 15 percent of Baby boomers and 25 percent Millennial find home ownership makes financial sense. The median age of first-time homeowners will be older, where the oldest Millennial is 35 years who want to buy homes, however, find it difficult, especially when they are paying high rent prices in those parts of the country where they have lucrative jobs.

According to a study, a majority of the Americans think, 2016 is a good year to sell and buy a home and the majority of them find it is a difficult time to rent. FHA loans have seen a reduction in mortgage insurance premiums by an average of $900 a year; this has led to a rise in FHA borrowers. For many Americans home ownership is a dream, of which 80 percent of Millennial sees the same dream.

Rent increases while New Home Construction is not geared

Higher rents, almost stagnant income, and decreasing employment opportunities during the recession phase as well as its consequences will continue to affect mainly the Millennial over the next decade. Usually, when the rent increases, buying becomes an attractive option with a flip side that saving for a down payment will become even more difficult.

Mortgage access will remain low, especially for entry level homes. Many new constructions are not low priced while many others are locked in negative equity. There are simply not enough affordable rentals where the younger generation wants to live. The median rent in San Francisco is 15 percent higher than it was a year ago.

People are delaying ownership for several reasons and there is not enough supply. This has led to higher demands which in turn lead to rising rents. The rental properties are becoming the thing of the past, according to Central Florida real estate agent Fred Franks of Local Realty Service located in Ocala, Florida.

17 May

Buying a Home vs. Renting a Home

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The largest purchase that many people will ever make is their home. The decision to buy a home is exciting, interesting, and also a little scary. After all, home buying is an enormous commitment, involving tens and sometimes hundreds of thousands of dollars. The decision to purchase a home is somewhat an act of faith, in that the homeowner is investing years of his hard-earned money in the hope that the real estate will at the least hold its value or hopefully increase in value. Paying off a mortgage  usually takes between 15 and 30 years of a person’s life, so this choice shouldn’t be made on impulse.

In today’s economy, the big decision of whether to buy a home or to continue renting is puzzling and quite individual. Many people prefer to rent, while others still like the idea of homeownership.

Renting a Home

Statistics on Rentals

If you are currently renting a home, you are in good company. Here are some statistics on renting a place to live, according to the National Multifamily Housing Council

  • About 37 percent of the households in the United States are occupied by renters. This represents about 43,267,432 family units comprised of 110,175,847 individuals.
  • The largest age demographic for renters is the “under 30” crowd. Over 55 million renters are under age 30, making up about 51 percent of the rental market. However, this number does include a large number of children.
  • Most renters live in single-unit places. This 43 percent of the renters studied.

Reasons People Prefer to Rent

In the past, many people preferred to get out of rentals as quickly as possible and achieve the “American Dream” of homeownership. However, in recent years, that trend has shifted a bit. The collapse of the real estate market in many parts of the country makes people a little nervous about gambling on increasing property values. Additionally, uncertain job markets in some sectors mean that the commitment of homeownership is frightening for many families.

Some renters like renting a place to live for other non-financial reasons. Adventurous people may prefer the ability to move, change jobs, and travel frequently, something that might be impossible for a homeowner. Some people don’t want to have to fuss with home maintenance and repairs, and they’re glad to call a landlord when the roof starts leaking or the heat won’t work.  Others just don’t want the stress of being forced to make monthly payments no matter what. After all, if the bank account gets a little slim, some people will just move in with friends or family for a few months until they get back on their feet financially.

The Downside of Renting

However, there is a downside of renting. First, renting is often more expensive than home buying in many areas of the country. Second, rent does not gain you any return for your money, and the landlord is the one profiting from your payments. Third, in many places, finding a reasonably-priced, well-maintained rental unit in a nice neighborhood can be difficult. Fourth, homeowners get tax breaks for their housing expenses, and this is something of which renters can’t take advantage.

Buying a Home

Statistics about Home-Ownership

Home ownership is the epitome of the American Dream and is one of the biggest goals of young adults. Here are some statistics on homeownership as according to Money-zine.com. The figures were extrapolated from studies performed by the U.S. Census Bureau and the Bureau of Labor and Statistics.

  • The typical American home was built around 1975, has three bedrooms, two bathrooms, is about 1800 square feet and is on a lot that’s about 1/3 of an acre.
  • Owning a home costs the typical American about $1450 per month, including taxes, payments, utilities, insurance, maintenance and upkeep.
  • The typical American home costs about $160,000.

Reasons People Prefer to Buy

Many people buy a home for no other reason than that they crave the permanence and stability that homeownership brings. Others see their home as an investment, and they want to take advantage of tax breaks available to homeowners. Some homeowners want to buy a house and make it into their own personalized home, customizing it with remodeling and landscaping projects.

The Downsides of Buying a Home

However, homeownership at the wrong time can take the American dream and turn it into a nightmare. If you buy before you qualify for a good loan, you could risk your investment if your payment changes. Also, if your employment situation is uncertain, homeownership might not be such a great idea right now. A few months of unemployment could ruin your credit for years. Additionally, along with homeownership comes the expenses of maintaining the home, something for which the wise homeowner has to plan ahead.

As you can see, the decision of whether to buy a home or to rent one is multi-faceted. There is no one “right” decision. It can depend on several things, such as the homeowner’s age, their job situation, the area where they want to live, their life stage, or their life style. Only you can decide whether you should buy or rent. However, you should think the decision through carefully before you buy a home.

If you’re still on the fence about whether or not homeownership is right for you, you may want to contact a trustworthy real estate agent, such as Fred Franks of Local Realty Service. Fred isn’t necessarily wrapped up in making the sale. More importantly, he wants you to make the best decision for you. He says, ” Purchasing a home can be a long and sometimes tedious process.” Fred continues, “As a professional Central Florida Real Estate Agent, I will assist you in understanding the down payment you will be asked to make, your monthly mortgage payments, your choice of lenders, and so on. Hiring me as your Realtor may be less expensive than you think. In fact it can actually be more expensive NOT to hire a professional to assist you in your home purchase.” Be sure to take your time and talk to a professional before you make this big decision.

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Local Realty Service, LLC

35 Hickory Loop
Ocala, FL 34472

352-289-0404 Office

Fred Franks

As a top producing REALTOR in the Ocala, Katrina has been exceeding client expectations for over 17 years of helping the public. Her attention to detail and unrelentless work ethic will work in your favor as you
Meet Katrina Barone