Be Aware of the Dangers with Mold

As homeowners we should be aware of the existence and dangers of mold in our homes and how to address the issue before it gets out of control. A lot of times we are unaware that mold may be growing in the corners behind appliances after a water leak, or in the walls of our bathrooms without proper ventilation which is a “growing” concern if you are looking to sell your home.Realty Times Columnist, Phoebe Chongchua has written an informative article that explains the seriousness of mold in our homes and what to look for in a home that you may want to purchase. Read the following article to familiarize yourself with some of the more common signs.

Moving With Chidlren

Moving can be extremely stressful especially if you have children. It is important to be aware of the things that may be a concern to your children when making a move.

A few areas of concern for children when making a move may include:

• Preschool children tend to worry about being left behind or separated from their parents.
• Kids aged 6 to 12 can be concerned with how their daily routines will be affected.
• Teenagers are concerned primarily with fitting in and having their social life disrupted.

A way to ease these concerns may include:

• Communicating with your child about what the new house will be like.
• Take them on a visit of the new home and neighborhood (if possible)
• If you can, visit the school with your child and meet some of the teachers.

Involving your children in the move can help make the transition easier. Your kids can be a great help to you and the move if you involve them such things as:

• Packing some of their own special belongings, and decorate the box with stickers and markers.
• Make plans together on how to decorate their new room.

There is a lot to consider during a move and by involving your children you just may relieve the stress your children are feeling, reduce your own stress and be able to focus more on other aspects of your move!

A Checklist for Showing Your Home

Fully preparing your home for sale can make considerable difference in the time it takes to sell it. You can help eliminate buyer objections before they arise by making necessary repairs and improvements, some of which are suggested below.
Outdoors
__ Spruce up gardens and lawn; trim shrubbery and replace dead plants.
__ Yard and patio should be neat; outdoor furniture should be clean and in good shape.
__ Clean or paint your front door – remember first impressions last longest!
__ Manicure your front yard, driveway and entry – you can’t sell what you can’t see.

Exterior
__ Check that door numbers, mailbox, and exterior lighting are all in good repair.
__ Touch up with fresh paint as needed.
__ Inspect chimney for cracks or earthquake damage.
__ Repair loose trim, drainpipes and fencing.
__ Clean stains; clean window screens.

Garage
__ Remove clutter; tidy up shelves.
__ Wash floor so it looks clean and spacious.

Living Areas
__ Apply fresh paint as needed…brighten your interiors with neutral-toned paint.
__ Clean draperies and carpets.
__ Replace burned out light bulbs.
__ Clean fireplace, remove smoke stains from wall and mantle.

Kitchen
__ Sinks, appliances and counter tops should sparkle without any clutter.
__ Wax the floor.
__ Clean oven, range and other appliances.
__ Clean tile and grout; replace if necessary.

Bathrooms
__ Clean mirrors, glass, chrome and porcelain surfaces.
__ Replace shower curtain if necessary.
__ Fix any faucet drips or leaks.
__ Clean tile, grout and caulking; replace if necessary.

Closets
__ Doors and drawers should open and close easily.
__ Remove clutter; tidy up shelves and racks.
__ Shoes and clothes should be neatly arranged.

Overall
__ Check the basics around the house. It takes just a minute to check all doors, windows and cabinets to make sure they don’t stick, squeak or are too loose.
__ Clean your furnace & water heater, so buyers know they are looking at a house that has been well maintained.

Renting vs Buying A Home in Florida

There’s nothing quite like a home that you can truly call your own. A place where you can have the gleaming hardwood floors you’ve always dreamed of, a space to cultivate your own vine-lined patio, a way to provide a good neighborhood for your kids to grow up in, and a freedom from the whims of your landlord. These are the images that immediately come to mind, for many of us.

Yet some of the biggest advantages of owning a home are less romantic and more practical – in fact, there are financial advantages to owning a home:

* Tax Deductibility You can deduct the cost of your mortgage loan interest from your state and federal income taxes. Since interest generally will account for most of your payment during the first half of your mortgage, the savings can be significant. Some of your costs at the time of closing (including prepaid mortgage interest) can be taken as deductions on that year’s income tax return, and points paid up front at the time of closing represent additional mortgage interest and may be taken as a deduction.
* Tax Deductibility of Property Taxes You can deduct all of the property taxes you pay.
* Appreciation Potential Real estate is considered a good long-term investment because it usually appreciates in value. The effects of borrowing potential can increase as the value of the home appreciates.
* Capital Gains Exclusion When it’s time to sell your home the amount of capital gains you have to pay is reduced. A homeowner can exclude up to $500,000 per couple if married and filing jointly, or $250,000 if single or filing separately for homes that have been the taxpayer’s principal residence for the previous two years.
* Capital Gain Treatment Congress allows preferential tax treatment on gains from capital assets held for more than one year. This would be important for a homeowner who has gains in excess of the allowable exclusion.
* Principal Accumulation Mortgages are designed to pay the interest for the time that the money has been used, as well as to retire the principal debt over a period of time. This payment plan means that part of the payment each month is for principal accumulation.
* Personal Enjoyment Pride of ownership is a valid reason for wanting to own a home. You can personalize your home while enjoying the financial benefits.

For the best evaluation of your financial situation, consult your financial advisor. He/she will be the most qualified to discuss the financial consequences of a home purchase decision, as well as help you to establish a plan that will achieve your home ownership goals.

RE/MAX – It’s a Small World!

Yesterday I spent a great day in Sarasota with a group of friends and fellow agents from my office, RE/MAX Realty Plus in Sebring.  We went to a RE/MAX Florida Regional meeting in Sarasota.    We started the meeting with lunch at the Columbia Restaurant on St. Armands Key.  I grew up in Tampa and one of my favorite restaurants is the Columbia Restaurants in Ybor City.  So I never miss a chance to eat at any Columbia Restaurant.  So after a wonder Cuban lunch, it was off the Ritz Carlton in Sarasota for an afternoon meeting.  I picked up more good ideas for marketing and reconfirmed RE/MAX is the place to be!
 
While sitting in a large room with lots of agents in the second row.  Liz, the lady behind me, started talking and introduced me to the agent she was with, Donna Toms both from a north Tampa office.  They just joined RE/MAX from Century 21 (good move for them).   Donna said you look familiar where are you from?  I asked “have you been to Sebring?” She said “No haven’t been there.”  Then I said, I grew up in South Tampa.  She said so did I.  Then I asked her where she went to high school she said Robinson High School.  This is where I went.  I asked her when she graduated.  She said 77 (me 73), but said she had an older sister and she would ask her if she knew me.  Well she seemed familiar to me too.  The meeting started.  All of a sudden it hit me.  I turned around and said  “Did you have horses?”  At the same time we both said “Maica.”  Maica was my first horse.  I use to show and ride Quarter Horses.  I sold Maica when I was in high school to Donna Nanz.  So the new Tampa RE/MAX agent is the same person who bought my Maica.  It has been 35 years since I last saw Donna.  She was about 13.  I can remember her riding her horses, with a cowboy hat, hair in a pony tail, and always riding bareback  and with not saddle.  So when someone says, “It’s a small world,” it really is!
 
I wish Donna and Liz much luck with their move to RE/MAX.  I am so happy I attended the meeting yesterday.  It’s always fun to look back on the good old days!  Anyone looking to move to Tampa, I have a good referral person to send you to.
 
Remember for all your real estate needs in Highlands County – Sebring, Lake Placid and Avon Park, give Maureen Cool a call today at 863 873-7243 or 888 243-COOL(2665).

When is the Perfect Time to Invest in Real Estate?

Is now the time to purchase real estate?  Everywhere you turn, the media is telling you about how bad the real estate market is.  Foreclosures and Short Sales are everywhere.  The real estate inventory is huge in Highlands County.  Every street you drive down has several “For Sale” signs.  The picture is total gloom and doom.  But, is it and for who?  In Highlands County this morning, there are 2,250 homes for sale.  Nobody truly knows the bottom of any market.  The only way to know the bottom is when the market starts going back up.  When prices are down, investment opportunities are up.    I personally think this is a great time to buy and there must be a great investment opportunity in one of these 2,250  homes.    Your first step to investing in real estate in this market is to consult with a professional Realtor who knows the condition of the real estate market where they live and work.

The next step to consider when making Real Estate investments is:

1.  Cash Flow – rental income vs. mortgage payment

2.  Mortgage Packages or Interest Rates

3.  Insider Hot Spots (commercial or residential, your Realtor will know)

4.  New Home Builder Deals (with interest payments on Spec Homes eating them up, these guys are willing to deal).

5.  Second Home vs. Investment Property

6.  Motivation of the Seller (Is the home sitting empty because of a transfer and now the seller has two mortgage payment to make).

With the help on an experienced Realtor, maybe it is time you take a look at these great opportunities.  I meet with many investors throughout the year to discuss the ideal time for buying and selling real estate. Remember, Real Estate is not any different than the stock market.  When everyone at work  is talking “buy” or the media is talking appreciation, most likely you are too late.  This ship has already sailed and you did not get on in time.  Don’t be the one missing the boat in this fantastic market.   Call or email Maureen Cool today to discuss if this is the right time for you to investment in Real Estate.  Maureen is an expert on the Highlands County Real Estate Market.  Perhaps the next best Real Estate deal in Sebring, Avon Park, or Lake Placid belongs to you!

February 2008 Real Estate Update for Highlands County – Avon Park, Sebring and Lake Placid

February has been a good month for my business in Highlands County.  This month I had six of my listings go under contract and sale pended one home that was not my listing.  The prices ranged from $35,000 for a mobile home to $230,000 for a 5 bedroom, 4 bath home, and new construction home.  This was an incredible deal!  I have seen a great increase in internet inquiries on homes on my web sites.  The buyers are here!
 
As of today, there are 2,134 Residential Homes for sale in Highlands County.  Of these homes, 176 or 8 % of the inventory are currently under contract.  This is up from 6% in January.   Residential homes that closed or sold this month are 62 or 3% of the inventory – up from 2% last month.
 
The number of condominiums, townhouses, villas and duplexes for sale has increased from 324 to 369.  Of this number 18 or 5% of the inventory are under contract and only 6 or 2% have closed or sold in February, a decrease from last month.
 
The sale of mobile homes on owned land has increased.  Currently there are 155 mobile homes on the market with 22 or 14% of the inventory under contract and 12 have closed or sold for 8% of the inventory.  Many of the winter visitors decide to get into the second home market with the purchase of a mobile home.
 
RE/MAX Realty Plus continues to lead with the number of closed transactions in Highlands County and out sells the competition two to one for the first two months of 2008.
 
So remember, if you are a buyer, there is no better time than now to purchase a home.  Whether you are looking to upsize or downsize your current home, or are looking for a good investment opportunity, the best deals are now.  Take advantage of this fantastic buyer’s market.  It will be a pleasure for Maureen to show you the unbelievable opportunities that are available and waiting for you.
 
If you are planning to put your home on the market, contact Maureen today.  Maureen will help properly price your home so your home will bring top dollar in the least amount of time on the market.  The best homes that are property priced and professionally marketed sell in the least amount of time.   Visit Maureen’s web site today at www.ACoolRealtor.com or www.MaureenCool.com to find out why Maureen Cool leads Highlands County in internet marketing.

Pre-Approval to Get the Best Real Estate Deal in Highlands County

Did you know that a Pre-Approval to buy a home is as good as cash when you are making an offer to buy a home.  Many buyers want to start their search for a home prior to talking to a lender.  At this point the buyer does not know just how much house he or she can buy.  The buyer knows how much he or she can afford and of course the lender will tell you how much the lender thinks you can afford.  But, sometimes it is hard to believe “that little house” is going to cost so much each month….and lets not for get an additional amount for taxes and insurance.  Before you start looking at homes, contact a lender, give your financial information, have the lender  run a credit check.  If all goes well, the lender will be happy to give a Pre-Approval Letter with no contingencies other than a satisfactory appraisal of the home.  This is point when you are ready to start your search with an experienced Realtor.  When you find that perfect and affordable home you can make your offer with confidence and your offer will be taken seriously by the seller.

Imagine if you are a seller and two buyers made offers on your home priced at $200,000.  One buyer offered $190,000, with a pre-approval letter and close in three weeks.   The other buyer has not even been to a lender but he offered $194,000.  You as the seller have no way of knowing anything about this buyer.  A loan approval can take up to or more than 30 days  after application.  The buyer still needs to contact a lender and give an application.  Most buyers talk to several lenders to get the best interest rate etc.  A standard real state contract will specify the number of days allowed for approval.  If the Contract for Purchase said five days, this can mean that you may not even know for 35 days if the second buyer even qualifies for a mortgage to purchase your home.  Most sellers will pick buyer number one just because this sale is almost a sure thing contingent only on inspections and appraisal.  The second buyer may have fallen in love with your house now only to be disappointed to hear that the seller actually took a lower offer because the buyer was pre-approved.  If you are a buyer planning to purchase in the near future, take the time to get pre-approved.  Everyone wins in this situation.

You, the buyer may actually get a better deal on the home.  The seller will not be preparing to move only to learn the buyer cannot afford the home and the deal fell through.  Everyone  will be happy in the end.

If you would like to be pre-approved for a mortgage, visit my web site www.ACoolRealtor.com.  Click on Cool Featured Homes.  You will see a link for a Free Mortgage Approval with Heartland National Bank located in Sebring, Lake Placid and Avon Park.  Or you can contact either Steve Scheck or Melissa Stanley at Heartland National bank by calling 863 386-1300 and asking for either one.  Both Melissa and Steve will be happy to talk to you and get you started on you home buying experience.

Remember, before you apply or receive a Pre-Approval for a mortgage, visit my web site and start your home search on the internet.  No pre-approval is necessary for this!  You can search the entire MLS on my web site www.ACoolRealtor.com just by clicking on Cool Homes on MLS.  Once you have your Pre-Approval and are ready to contact an experience Realtor, give Maureen Cool a call or send and email.  It will be Maureen’s pleasure to help you find your perfect “Cool” home!

Real Estate Market Report for January 2008 – Highlands County, Sebring, Avon Park and Lake Placid

Can you believe January has come and gone?  The real estate market is still slow in January 2008 for Highlands County.  But, hopefully with the passing of Amendment 1 dealing with property taxes in Florida (more about what this means to you as a buyer or seller in a future blog) and the Fed announcing their 50 basis point reduction in their key rate, buyers will get off the fence and start purchasing.  I have shown many homes this past month with negative results.  The main comment I hear is, “I am waiting and want to see EVERYTHING to make sure I am not paying too much or the market is not going to go lower” – (and when I say EVERYTHING, I mean everything).  Sometimes it is hard to keep a smile on my face!  What the buyer does not realize is, the only way to know the market has bottomed is when it starts to go back up and they missed the really good deal that they were afraid they might be paying too much!

This is a quick snap shot of statistics for Highlands County which includes Avon Park, Sebring, and Lake Placid for January 2008…..while the stats do not look too good, February is looking a little more promising for pending sales.  Realtors are reporting significant inquiries, showing activity, and contracts written.
 
Total Residential Homes for sale (includes single family, villas, condos, mobile homes on owned land) is 2,121.  Out of this only 47 residential homes sold which is only 2% of the current number inventory for sale.  Currently 146 or 6.8% are under contract.  The majority of these will close in this month and some out as far as August of 2008.  As we all know under contract doesn’t mean sold.  Some of these will fall through before closing.  The average sales price for homes sold in January was $157,484.  The good news is more offers are being made and accepted!
 
Single Family Home category currently 1,614 homes listed for sale.  In January, 31 homes closed for less than 2% of the market.  The number of single family homes currently under contract is 132 or 8% of the inventory.  The average sales price for single family homes in January was $177,585.
 
Condominium, townhouse, villa, or duplex category currently has 324 active listings.  Out of this number only 7 sold in January for 2% of the inventory.  Currently there are 13 under contract for 4% of the current inventory.  The average sales price in January was $112,000.
 
Mobile Homes on Owned Land currently has 136 active listings.  Out of this 7 have sold for 5% of the inventory.  Currently 17 are under contract for 12% of the inventory.  Average sales price does not work in this category because prices range from $25,000 in a mobile home park to $450,000 with a small mobile home on 30 acres.
 
So as you can see, the great news is buyers are looking and making offers. Historically, February had proven to be one of our strongest months for winter visitors and second home buyer.  If your home is going to be included in the SOLD or Under Contract category, your home needs to be the best value for the dollar and in the best possible condition.   You want all potential buyers to call you home, “Home” when they step out of the car and walk in the front door.

If you are thinking about selling your home, Call or contact Maureen Cool today.  Let Maureen explain her marketing plan and how your home will be in the sold category.

*Statistics taken from the Highlands County MLS as of February 2, 2008.