This is a great home for the price. The neighborhood is excellent and the lot is one of the larger lots in the area. All in all, this little brick gem is a great deal! I sold this home to the owners originally, and now it is time for them to move on. So here I am selling the home once again. It is adorable and whoever buys this home will be very happy in it as my sellers are. To view more pictures of this home click on the link below.
Category Archives: High Springs for sale
“A bank is a place that will lend you money if you can prove that you don’t need it.” – Bob Hope
Re-printed from Trulia
January 3, 2012|Tools & Trends|No Comments
Jed Kolko, Trulia’s Chief Economist
5 events that rocked housing in 2011; by Jed Kolko
Government, lending changes, and forces of nature all shook the housing market in 2011. They had both an immediate impact and slow-burning effects. They set the stage for a bumpy 2012 with more foreclosures, political battles and local market risks – which will affect the industry and how agents do business.
1) Robo-Signing Reverberations
The “robo-signing” scandal – where banks were accused of approving foreclosures with incomplete or incorrect documentation – exploded in October 2010, but where are we now? Banks want a settlement in order to avoid costly, drawn-out lawsuits. One is shaping up that could reduce loan balances or interest rates for current homeowners, give payments to people who lost their homes and establish new mortgage servicing standards for the future.
Even if you think there’s money coming to you because you lost your home, don’t start spending against your settlement windfall just yet. One estimate from the Wall Street Journal is for a settlement of $25 billion if all states participate. Another report from TIME says that will translate into $1,500-$2,000 for households who were mistreated in the foreclosure process. A couple thousand dollars will give people some breathing room, but it won’t change anyone’s financial lives. And, be patient: it could be months before a deal is reached, an administrator is in place and the details are finalized.
Until that’s all figured out, here’s the immediate drama: who’s in and who’s out? Some states might hold out for a better deal or decide to sue these mortgage servicers directly, as Massachusetts has. California was the first and most vocal state to back out, and New York, Delaware, and Nevada have spoken out, too.
What Really Mattered: The threat of robo-signing lawsuits made banks gun-shy about pursuing foreclosures in 2011, which left many homes stuck in the foreclosure process. But once a settlement is reached, we’ll see a rush of foreclosures in 2012.
What It Means for Agents: More foreclosures will hurt prices and consumer confidence. Short sales could be harder to get approved if the foreclosure process gets easier.
2) The Debt Ceiling and the Budget Deficit
The federal government is running a deficit — it is spending more than it collects in taxes and other revenue – so it borrows to cover the gap by issuing debt. When there’s a deficit, we add to the pile of debt. To shrink this pile, the government needs to collect more than it spends (or, if you prefer, spend less than it collects) and use the surplus to reduce the debt.
In August, the government played a game of chicken over whether to raise the debt ceiling – which is really just a formality acknowledging that the deficit requires issuing debt to keep the government going. However, the right way to deal with the debt is to reduce the deficit – not by fighting over the debt ceiling.
Long before the debt ceiling debate and Standard & Poor’s federal credit-rating downgrade, we all knew that the federal budget was in bad shape. The debt ceiling debate rattled the markets and consumer confidence temporarily but interest rates stayed low. The important effect was that Congress created a bipartisan supercommittee to tackle the deficit – but it couldn’t reach agreement by its November deadline.
What Really Mattered: The deficit-reduction supercommittee teased us with some policy proposals that will surely rear their heads again. One idea that both Republicans and Democrats didn’t totally disagree about was reducing the mortgage interest and other tax deductions. If and when that happens, high-income homeowners with mortgages would pay a lot more in taxes.
What It Means for Agents: Scaling back the mortgage interest deduction would lower the offers buyers – especially high-income buyers – will make on homes. And some buyers will drop out of the market if the deduction, which favors homeownership, shrinks or vanishes.
3) The Expansion of HARP
In October, the Federal Housing Finance Agency (FHFA) said seriously underwater homeowners will be able to refinance through the Home Affordable Refinance Program (HARP). Originally, refinancing under HARP required a loan-to-value of less than 125% — that is, you couldn’t be more than 25% underwater – but that rule goes away for fixed-rate mortgages. But there’s a catch! Loans must be guaranteed by Fannie Mae or Freddie Mac, and – more importantly – borrowers must be current on their payments and must not have missed a payment in the last 6 months.
What Really Mattered: Some seriously underwater borrowers who fell behind on their payments in hopes of negotiating a loan modification are now kicking themselves because those missed payments make them ineligible to refinance. But those who can and do refinance will have lower monthly payments and extra money to spend — which will help stimulate the economy.
What It Means for Agents: Even if easier refinancing may not affect the home-purchase market directly, it will stimulate the economy a bit, which will raise housing demand and give buyers more confidence.
4) Natural Disasters Cause Insurance Disaster?
In 2011, several tornadoes, floodings and a hurricane temporarily halted what little construction there was to begin with, but this was just a short-term slowdown. The bigger long-term effect was the near-collapse of the federal government’s National Flood Insurance Program (NFIP). Still struggling financially under debt amassed after Hurricane Katrina, the NFIP’s insurance premiums don’t fully cover insurance claims when disaster strikes. August’s Hurricane Irene and its flood damage returned this problem to center-stage.
What Really Mattered: In flood-prone areas, you can’t get a mortgage if you don’t have flood insurance. Without NFIP, housing markets in these areas would skid to a stop. Could the program actually expire? It could, but as part of last week’s payroll tax agreement, the program got a last-minute extension until May 2012. No doubt, the political fight over this program’s long-term future will continue in into next year.
What It Means for Agents: Those working in flood-prone areas should be aware of private-sector flood insurance options for buyers in case the federal program lapses after May. And agents in these areas should follow the debate over NFIP on websites and blogs that cover the insurance industry.
5) Lowering the Conforming Loan Limit
Starting in October, the government lowered the upper limit for loans backed by Fannie Mae or Freddie Mac or insured by the Federal Housing Administration (FHA) from $729,750 to $625,500. Why? Government agencies now back or insure most loans, but it’s time to make the housing market less dependent on the feds. Lowering loan limits is one step in that direction; however, the real estate industry has urged the government to push the loan limits back up. And you know what? They scored a half-win in November, raising the loan limit back up for FHA loans but not for Fannie and Freddie.
What Really Mattered: Mortgage lenders are willing to charge lower rates for loans that are backed by Fannie or Freddie; with a lower conforming loan limit, a small number of loans that used to qualify for federal backing no longer do. As a result, homes that are now on the wrong side of the conforming loan limit will see fewer potential buyers and lower sales prices. This will matter more in California, New York, and other high-cost areas.
What It Means for Agents: Agents need to know the local loan limits, which may be different for FHA insurance and Fannie/Freddie backing. Homes for which loans will be above the new limits might see less buyer interest and price reductions.
“For most folks, no Gloria Borgeris good news; for the press, good news is not news.” –
You hear the bad news everywhere you turn. It’s on the television, the, the radio and in print headlines. A lot of negative coverage has been devoted to today’s . What you don’t hear is the good news about the and the many reasons why the current real estate market may be beneficial to you.
Bad news sells newspapers and gets high television ratings; therefore, the media has no reason to report the upside of today’s real estate market to the. This is where I come in. For example, did you know that approximately 30 percent of homeowners own their home ?
The current market also affords some great opportunities for those looking to purchase a home. First-time homeowners, move-up buyers and investors can all benefit from low low-interest rates, making now a great time to lock in a long-term mortgage. Also, the large selection of homes and low sales prices make it a great . And did you know that if you buy in a rural area –Alachua, High Springs and Newberry qualify as – you may qualify for a loan, which is a 100% loan – a “no money down” loan., and historically
Ultimately, though, these favorable conditions will go away. As inflation rises, so do interest rates. If you are looking to become a homeowner, you need to strike while the iron is hot!
“To move forward, a turtle must stick its neck out” – Unknown
NOTE: This special posting reflects an email Dave Liniger sent to all U.S. Associates on Wednesday, July 27:
I have extremely exciting news to share with you!
That’s right – we’ve earned the highest level of appreciation from BOTH groups of consumers, which is a remarkable statement about the Outstanding Agents in our organization.
I want to personally thank and congratulate every one of you for contributing to this prestigious recognition. It truly reflects your professional excellence, your enthusiasm for education, your commitment to distressed sellers, your individual drive, and many other qualities that serve the interests of your clients. Your efforts change lives, and those people have spoken.
Our team at Headquarters is working with J.D. Power and Associates to determine how we can use the results of the survey, as well as their name and logo. As soon as possible, we will let you know what the guidelines are.
In the meantime, celebrate this incredible achievement and enjoy the fact that once again you’ve proven yourselves to be the best in the business.
Published: 7/28/2011 12:49 PM
“If you are not in the lead, the view never changes.” – Unknown
Although they can be stated in different ways, there are only six factors that affect the sale of a home, according to blogger Karen Kruschka.The Sales Associate with RE/MAX Olympic Realty in Manassas, Va., wrote an Active Rain blog post detailing the “Big 6,” as she calls them. These factors are controlled by three main entities: the seller, the agent and the market.
Sharing the blog with your own clients and educating them on their role in the process gives you a perfect entry point to demonstrate your value as a trusted advisor – especially when they’re deciding on listing price and terms.
Here’s an edited excerpt of Kruschka’s post:
1. Price – You determine list price for your home. However, a list price above the market for homes similar to yours will negatively impact buyer interest in making an offer. Your Realtor will review price history with you to assist you in making a list price determination.
2. Terms – Buyers have requirements just as sellers do. Your willingness to respect them and be willing to negotiate which terms will be acceptable to both parties can have a very positive impact. Price and terms will usually be negotiated at the same time.
3. Condition – How well you have maintained the home will influence both your price and the length of time it will take to sell. The pool of buyers who are willing to make major repairs is much smaller than the pool of buyers who want a home that has been well maintained.
THE MARKET Controls
4. Timing – Economic conditions operate independently of price, terms and property condition. Similarly, seasons and weather factors can affect the time it takes to sell a home. 5. Competition – The number of homes on the market most certainly bears heavily on your ability to sell your home on a timely basis.
6. Promotion – From entry into the Multiple Listing Service to Internet marketing and any other programs, your agent will have an impact on your home sale.
RE/MAX Affiliates may share this article, provided they do not charge for it and this notice
“This I do know beyond any reasonable doubt. Regardless of what you are doing, if you pump long enough, hard enough and enthusiastically enough, sooner or later the effort will bring forth the reward.” – Zig Ziglar
Okay, so you’ve finally decided to put your home on the market – after the holidays – and start looking for that new home. There are dozens of new model homes to tour, and several areas you are considering. Once you start marketing your home, what can you do to protect yourself against that “domino” effect if you go on contract for a new home, while considering offers on your existing one? How can you minimize your risk, the way a builder does in a new home purchase?
It’s actually a great idea to “mirror” the builder’s program for purchasing a new home by conducting the sale of your new home along the same lines. Find out how much earnest money is required by the builder, and ask the same (or more) from a potential buyer. If further deposits are required by the builder along the way, ask for similar deposits from your buyer to feel confident that they are as committed as you are to the purchase. This may give you the feeling of lessened exposure in your transaction.
Your real estate agent can guide you through this process; ask him or her to “structure” counter-offers to buyers so as to minimize your risk. If you look at new home purchase agreements, there are time frames and safeguards in place for all kinds of elements of the agreement. Many new home contracts ask for written preliminary loan approval within the first 30 days of acceptance.
Depending on the escrow time for the offer on your home, it would be wise to do the same. This is one of the most critical aspects of either transaction, because everything hinges upon procurement of a qualified, loan approved buyer. (Ask your agent to explain the importance on “liquidated damages”, so that you know what recourse you have should your buyer fail to perform according to the terms of the contract).
Are you afraid your home will sell so quickly that you may not have time to find just the right new home? Add a clause to your acceptance that gives you a comfortable time frame in which to find a home, such as “offer accepted contingent upon seller’s purchase of another home within the first — days after acceptance of this contract.” I am sure at this point everyone will want to give you advice on where to find a new home! This is also a great protection for you if you are moving to an area unfamiliar to you, where it may take some time to scout all the new home areas.
There are three common scenarios when buying a new home while dealing with selling your existing one. One is to make a completely contingent purchase agreement. This is one in which you sign a contract with the builder to buy their home, but the purchase is wholly dependent upon the sale of your own. The “up” side of this is that you really are risking nothing monetarily. You are also put into the position of “first right of refusal” to any new buyer wishing to purchase the same home. This means that, if the builder is presented with a buyer whose position is stronger than yours (home in escrow, or no home to sell), they must give you a period of time – usually 48-72 hours – to decide if you can remove your contingency on that particular home site. If the down payment for your new home is primarily dependent upon the proceeds from the existing home, you may opt to “let go” of the new home and transfer your deposit to another home in the subdivision, or bow out altogether. The “down” side is that you may lose the home site or home of your dreams. Offers contingent on the sale of a home in a relatively healthy new home market have the potential to send you and your family on an emotional rollercoaster, so prepare yourselves for the ride.
Another consideration is to decide not to sign a purchase agreement on a new home until yours is in escrow. This may limit your time frame to move or find another home, but can give you the confidence you need to proceed with a new home purchase. Most builders consider “contingent upon the close of escrow” to be a fairly sure thing, especially when you and your real estate agent have furnished the builder with written loan approval for your buyer. If this is the route you choose, you may need to consider interim housing, should your new home not be ready for occupancy in time.
The third scenario is applicable only if you have the wherewithal to qualify for a new home purchase without the proceeds from your existing home. That is, you are willing to sign a non-contingent purchase agreement with the builder. You may have your home listed you home through the process of buying the new one, but are willing to do whatever it takes to make the new home purchase proceed without the proceeds from your old one. This may include an eventual change of terms or pricing on your listed home to make it sell, or even the idea of leasing it out until it sells. This can be a scary prospect to many buyers who envision double house payments at some point. Your listing agent is the person to rely upon to communicate recent neighborhood home sale activity, and should be willing to recommend your course of action. Hopefully, you would not have to get of the point of renting it out, unless the prospect of it does not deter you completely.
A real estate expert can guide you through this process as your advocate and advisor. Just remember that the agent is employed by you during the listing period. Communicate all of your concerns to your agent so that he or she can better represent your needs to potential buyers of your home. A good agent is, indeed a safeguard. Even if your agent does not represent you in the purchase of your new home, they will want to help you achieve your objective of a new home purchase if they indeed have your best interests at heart.
“Ask, and it shall be given unto you.” – Jesus Christ
There’s nothing more frustrating to a ready, willing, and seemingly able buyer than to lose an offer to another buyer — especially since the seller was not specific (down to the letter) about what he expected to receive.
Sure, there’s the list price; but in today’s fast-paced market, a buyer/ prospect may offer thousands more than the list price and STILL not be the lucky buyer who gets the property!
That’s why sellers should be as specific as possible with buyers in what they want to receive and achieve in a successful offer.
Let’s tackle the major elements the seller should be prepared to address with serious buyers. I suggest that sellers (or their real estate agent) prepare a “Suggested Contract Requirement” sheet to give to buyers, outlining what they expect in the following:
By now, it should go without saying that buyers without loan pre-approval shouldn’t be competing in the current market; but sadly, some are. That’s why it’s important for the seller to specify that buyers be pre-approved for loans ample enough to fund the purchase price, AND detail the type of loan and respective costs (if any) the seller would cover.
For example, a buyer might claim to be pre-approved for a mortgage of “x” amount. What she fails to disclose, however, is that it’s Veteran’s Administration (VA) financing and she expects the seller to cover her two discount points. On a $140,000 sales price (with zero down) that’s a hefty $2,800 for the seller.
Or what about the buyer who claims to have “cash” coming to him to fund the purchase (often coming from proceeds of an estate or settlement of a law suit.) The buyer’s funds are delayed. In order to close the sale, he must borrow the money, causing the seller a three-week delay in accessing his proceeds. Verifying the buyer’s funding (which is tougher to do in a “cash” sale) is vital for sidestepping potential delays for the seller.
In the old, slower school of home buying a decade or more ago, buyers would offer a meager amount of earnest money or even a post-dated check with the idea that they could always up the ante if need be. In today’s market, more (rather than less) earnest money is advised in most situations. Not only does it subtly signify to the seller how financially motivated a buyer is, but can serve as a buyer’s first (and often only) shot at a strong first impression to the seller.
By letting prospective buyers know (in writing on the “Suggested Contract Requirement” sheet) the minimum amount of earnest money the seller is seeking, it places a strong buyer on equal footing with competitors. It also gives a heads-up that if you want a stronger foothold with the seller in this area, exceeding the suggested minimum amount is certainly in order! If a buyer structures an offer to include minimal contingencies like obtaining financing in a certain amount and the property appraising for at least the sales price, etc., earnest money would be at little risk of loss.
And what about contingencies? Should a seller require that buyers make all offers free of positively all contingencies if they’re serious about the property? Hardly. But keeping contingencies to a minimum (as we’ll see in Part II of this article) definitely gives buyers an added advantage over their competition and results in a smoother sale for you as a seller.