South Florida On The Market

1. You own it: With no landlord, you make the decisions. 2. You deduct it: Mortgage interest, property taxes and some costs involved with buying a home can be deducted from federal income taxes. 3. Interest rates: The cost to borrow mortgage money is at an all-time low. If you’re going to buy, this is the time to jump into the market. 4. You invest in it: Rent money is gone forever. Mortgage payments build home equity ownership interests. 5. You save for the future: Home equity is a ready-made savings plan. Sell it and you can make up to $250,000 cash without owing any federal income tax on the profit. 6. You can predict expenses:  Unlike rent, a fixed-mortgage payment doesn’t get more expensive over time. 7. You pick it: Choose from different neighborhoods, styles and price ranges. 8. You create it: Decorate, renovate, get a pet or paint the walls whatever color you want – it belongs to you. 9. You live in a neighborhood: You and your neighbors take pride in the l

The hottest design trends in new homes this year incorporate creative use of materials, layouts and features that provide maximum utility and beauty while being cost-conscious at the same time, according to the National Association of Home Builders (NAHB). In celebration of April’s New Homes Month, NAHB shares the following top trends highlighted by leading home builders and architects during the International Builders’ Show in Orlando, Fla., this past February: -Reworked Spaces: New homes are being designed to allow plenty of space for family interaction in high-traffic areas such as the kitchen, and to eliminate rooms such as formal dens and home offices that aren’t frequently used. Small spaces devoted to home management, also known as “pocket offices,” are being included in large pantries or spaces nearby the kitchen or family great room. Window seats and alcoves are being used to provide an area for private time, without taking up a lot of space. A popular and efficient location

If you have the bug to sell your home, you may want to grab a tool belt first. Why? In today's hyper-competitive real estate market, agents often tell their clients that it's a "price war and a beauty contest". So in addition to being the best priced home on the block, you need to be sure that your home also delivers a knock out first impression. A terrific way to position your home to attract the maximum number of suitors is to provide buyers with a home that is in turn-key condition. A turn-key home is one that a buyer can move into without inheriting a list of unfinished projects. So what are the top 10 ways to increase your home's value? Let's take a look: source: trulia Siding and exterior paint One of the fastest ways to make a better first impression with buyers is to paint the exterior of the home and, if needed, to replace the siding. A fresh coat of paint will freshen up the exterior and modernize the appearance. Just be sure to use colors that wi

With property values dropping in many places, short sale has now become a common term in the mortgage business. The most intuitive way to remember what a short sale is — is by thinking that it is the sale of a house that is short on money owed on home loans. How does this happen? Well, there are a few different factors that can contribute to a short sale, but the biggest one is the low appraisal and drop in property values. Let's say for example that a family buys a house 5 years ago for $100,000. After 5 years, they have paid $20,000 into the principal. They have $80,000 left on the mortgage. So, if they need to sell their house right now, the house must appraise for at least $80,000 in order for them to break even. However, with lowering property values, the house only appraises for $50,000. This family is now short $30,000 if they sell the house. If the family decides to keep the house until the housing market gets better, it's highly likely in 5 to 10 years that the hou

If you're on the fence and thinking about the Buy vs. Rent decision, so called "rent-to-own" deals may sound like the best of both worlds. Unfortunately, the exact opposite is often true. Learn more about these arrangements and whether or not it is right for you. What is Rent-to-Own? Rent-to-own (or lease-to-own as it's sometimes called) typically involves a renter paying a landlord an above-market monthly rent payment with a portion of that rent going towards the eventual down payment on the home's purchase. The renter pays a fee to the landlord/owner and sets a time frame for the lease, which is usually less than three years. In a typical arrangement, the selling price of the home is fixed for the term of the lease and the renter retains the right to decline purchasing the property when the lease has ended. These agreements can give homeowners an opportunity to move without selling at depressed prices, and they allow renters to save for a down payment whi

So you have decided to tackle a home improvement project, but like a mosquito buzzing in your ear a question lingers - Are you making the right choices when it comes to investing time and effort into improving your home? It's a valid concern because not all home improvements are created equal. To separate fact from fiction let's take a look at the top 10 home improvement myths: Any remodeling project will add value to your home Not true - while many remodeling projects will add value to your home, some can be seen as a negative by future buyers. For instance, combining two smaller bedrooms to create one larger bedroom may better fit your lifestyle today, but it may cause the home to lose value in the eyes of a future buyer who needs the two separate rooms. Buying the highest quality materials attracts more buyers Installing the highest quality materials always seems like a wise decision, but it can backfire. For instance, using the most expensive tile in a bathroom may impres

Zeroing in on yet another deficiency of a faulty appraisal process that is hurting home values, hampering a housing recovery and often killing sales of homes coming in below the contract sales price, the Government Accountability Office (GAO) earlier this month reported that the Appraisal Subcommittee, which oversees the appraiser regulatory programs established by the states, needs to improve its monitoring procedures. “These findings underscore the need to establish an effective oversight system to ensure that appraisals accurately reflect true market values and don’t harm aspiring home buyers or builders,” said NAHB Chairman Bob Nielsen, a home builder from Reno, Nev. A recent NAHB survey shows that one out three builders have lost signed sales contracts because of flawed appraisals and a fall survey conducted by the National Association of REALTORS® shows that 18 percent of REALTORS® reported a recent contract cancellation or delay as a result of a low appraisal. Numerous flaw