Monday, February 25, 2013

Considering a condo purchase? Check the books…

If one is considering a single family detached home purchase the exterior condition is very often a good indicator of the interior condition.  If there is neglect there is likely an underlying issue which may or may not be a concern.

It could be the seller is older, a part time resident, dealing with an illness , perhaps a  recent loss of a family member or even financial issues.

Admittedly, sometimes it is just a case of indifference which I will never understand - especially when selling!

When considering the purchase of a condo unit the exterior condition will similarly give you some clues about the circumstances.

But, in the case of a condo, it is likely a clue about the condominium association more so than the specific seller.

Neglect and unmade repairs could indicate the financial condition of the association is an issue.  Condo fees usually include exterior maintenance, as well as insurance  landscaping, common amenities (like pools, fitness centers, etc).  If any of these are neglected - find out why!

Any consideration of a condo purchase should include a review of the association rules and finances.  Find out how many owners are behind in their dues.  Find out how many units are vacant. Find out how many units are tenant occupied.

Know the condominium complex before purchasing.

Because, as a condo owner, you will also be on the hook as well.

Sunday, February 24, 2013

Himalaya Asian Bistro–Rockledge, Florida

Sometimes you just need to skip the big chain restaurants and sample the local cuisine.  Although it is not really "local cuisine"  this restaurant offers a great experience in Asian cuisine.

Located at 634 Barnes Blvd in Rockledge, Florida Himalaya Asian Bistro is one of my favorite Asian restaurants.

Although Himalaya Asian Bistro offers a wide array of fine Asian dishes ranging from traditional dishes such as Beef Lo Mein to new style entrees such as Indonesian Sambai Fried Rice,  I seem to always have the same thing – Mango Tango (sounds like a Caribbean dance).

But, so as to not get in a rut, I always change up my choice of appetizer.  With so many special rolls, sashimi and sushi dishes offered, there is always something different.

So whether you live in Rockledge, Viera, Melbourne or anywhere in central Brevard, when the urge for Asian cuisine hits you, try out Himalaya Asian Bistro.

Wednesday, February 20, 2013

Home Inspections– Why have one done? What if I do not want to do one?

As a Florida real estate agent I always recommend buyers have a home inspection conducted prior to moving toward the closing table.  The reality is many things in life can look great on the surface - until you look a little more closely!

When purchasing a home in Florida there are a couple of contingencies I recommend be included in your offer to purchase.

The first is a financing contingency.  If a property will not qualify for the mortgage (or the buyer can't be approved), there should be an escape clause.  In the case of a cash offer I like to include a contingency requiring the property appraise at the contract price as well.

The second contingency recommend is the property inspection.   The home inspection will examine the major systems as well as the general condition of the subject property.  If there is some issue at the time of inspection it will hopefully be identified by the proeprty inspector.

What if a buyer opts to save the expense of having an inspection completed?  First I reiterate the cost of the inspection (usually about $400-$400) is only about the cost of a new water heater and a lot less than a major repair like an AC or roof issue!

Still if a buyer opts to skip the inspection I ask only one thing - a signature documenting the rejection of the recommendation.

Considering buying or selling a home in Brevard County, Florida?  Call me at 321-693-3850 or send me an email if I can assist in any way!

Friday, February 15, 2013

Owner Occupied Home Sellers - Take a lesson from real estate flippers…

I read an article this morning by Lenn Harley of about why investor owned homes sell.   In her article she used a term in reference to real estate flips – “investor improved homes.”

This short article contains the key to selling your owner occupied home as well.  

What do investors do when they purchase a home for re-sale?

If you have ever been in one you find new neutral paint, neutral flooring, newer appliances, new or functional major systems and no problem requiring immediate attention.

In other words, the investor knows what buyers want..... move in ready.

If you are considering selling your home, give Lenn's article a read.

If you are ready to sell your Viera,Suntree or Rockledge, Florida home, give me a call at 321-693-3850.

Friday, February 8, 2013

Is a short sale right for you?

Walking away from a home without trying to obtain a loan modification (renegotiate the mortgage) or even attempting a short sale can open a borrower up to potential legal and financial issues.

If you can no longer afford your home due to a change in circumstances consult an attorney before proceeding.

If a short sale is a consideration understand the impact it has on your credit score and potential liabilities.

If you have questions about a short sale please give me a call at 321-693-3850.  If you have questions about the legal and tax implications of a short sale, contact the appropriate professional.

Here are a few of my past articles about short sales...

Why Bother? Short Sale, Foreclosure…either way my credit is ruined!