2BR/1BA

800 sq ft

.25 Acres

Lakewood Estates

Totally updated! This house is move in ready and features 2br/1ba with 1 car garage that has been converted to an office/workshop (can easily be turned back into garage). Brand new carpet throughout, new energy efficient roof, new paint inside and out, new hot water heater, new outside heat pump, and a beautifully remodeled kitchen with Corian countertops, tile floors, and solid wood cabinets! Bathroom was updated in 2005 with new tile floors, countertop, cabinets, sink, and fixtures. Safetouch security system added in 2010. For a video tour on YouTube, search: kmHBKZZHdrs.

Find serenity on a 1 acre wooded lot in Havana. This house is located at the end of a cul-de-sac and features a flowing floorplan with 3 spacious bedrooms, vaulted ceiling, living room fireplace, and cheerful kitchen. French doors in the dining room lead to a huge sunroom addition. Also includes a large deck suitable for cookouts or watching the wildlife! View this property on YouTube, search: puacbzPa128.

Cute condo with lots of space and character! This end unit features 2br/2ba, huge upstairs loft overlooking the living room, spacious kitchen with pass through to LR, and back deck. This unit is clean and move in ready! Community amenities include a beautiful club house with fitness center, gorgeous pool area and beautifully landscaped grounds. View this property on YouTube, search: i6fgk16jPXo.

Gorgeous custom home in great NE location! This home features oak hardwood floors, extensive crown molding, and granite throughout! Large great room has gas fireplace, surround sound, and built ins. The gourmet kitchen comes complete with stainless steel, custom cabinets, double ovens, Viking cooktop and Viking built in fridge. Upstairs features huge rec room/media room/game room with kitchen, wine cooler, and attached bedroom and bath! All baths have beautiful glass tile. Backyard is fit for entertaining with patio with gas hook up, beachfront entry, black bottom pool with hot tub, and a fenced yard. MUST SEE this beauty!

Don't Let Foreclosure Buyers be Tempted by Price Alone

Daily Real Estate News

 Tuesday, November 29, 2011

Buyers may be swayed by the big bargain prices that foreclosures often offer. But before they jump in, some housing experts say they need to be warned that it may not be as big of bargain as they believe. 

“Brokers who specialize in the foreclosure market say there are good deals to be had, but they advise buyers to look beyond an alluring list price and do the research to avoid getting into trouble,” an article in the Buffalo News notes.  

For example, often times, foreclosed homes are sold “as-is,” but if the homes have been left vacant for awhile it may have lots of maintenance and damage issues that might not make it such a great bargain after all. Housing experts recommend getting a home inspector to look at the property before submitting an offer—regardless of it being sold in “as-is” condition—so that buyers can know what they’re getting into and the potential price tag for any needed repairs. Vacant and improperly maintained homes may have problems like frozen pipes and water damage. 

Real estate professionals also advise buyers of foreclosures to take into account any liens or judgments on the property, which they may inherit if they purchase the home. Ensure the property title is clean by working with a foreclosure attorney, Pat Flowers of RealtyUSA suggests. 

Also, buyers need to be aware that closing costs may be more expensive when buying a foreclosed property since banks will not absorb some of the costs, Todd Vanderlip of Realty Edge told the Buffalo News.

Source: “Focusing on Foreclosures; Buyers Are Warned to do their Homework Before Closing a Deal,” Buffalo News (Nov. 27, 2011)

         Also the Tallahassee market has had 7 months of decreasing amount of inventory. Meaning in my opinion more homes are selling faster and staying on the market for a shorter time period.  Another positive sign is the average price of new listings.  75% of the new listings in the NE of Tallahassee are priced between 200K and 300K.  This is a positive sign Realtors and the overall market.  Also in the NW, closer to campuses, over 65% of the new listings are listed at 150K-200K.  The goal is to have a 6 month inventory and we are currently sitting about 10 months.  This has been decreasing and just a year ago we were at 11.7 months.  The light is clear just unsure about how near.

Federal Reserve Recommends Expanding GSEs to Turn Housing Market AroundPosted by Carole VanSickle on Thursday, January 5th 2012     While most analysts are recommending minimizing Fannie Mae and Freddie Mac or even winding them down, the Federal Reserve says that the best way to rescue the United States housing market is to use the government-controlled GSEs in a larger capacity in the coming year to provide “cheaper mortgages to a broader pool of homeowners”[1]. The recommendation comes as a surprise to many, given that even the current administration’s official policy on the two debt-riddled agencies is that their role in housing finance should be reduced. However, in a paper sent to lawmakers yesterday, Fed analysts propose to expand GSE roles in government financing programs in order to bring down the inventory of unsold homes in the country and put more people back in a homeownership position. Part of this plan would include allowing Fannie and Freddie to refinance loans that they have not guaranteed.

The proposal for expansion comes fast on the heels of the paxroll tax cut extension, which was approved for two months right before Christmas and will be financed for decades using the fees from GSE-guaranteed loans. Some might argue that this proposal is nothing more than a grab for more loans on which to assess fees, but in the letter to lawmakers the analysts insist that the move would simply get more people back in vacant properties, thereby removing a stumbling block to the housing recovery and a greater economic recovery. The move would potentially allow as many as 2.5 million more existing homeowners to refinance their loans through the Home Affordable Refinance Program (HARP), but it would also create an even greater debt situation for the GSEs and, as a result, for the American taxpayers funding Fannie and Freddie.

On another note, the paper also addressed the possibility of renting out foreclosed properties directly rather than reselling them to investors and letting those individuals handle rentals. The Fed believes that if Fannie Mae would rent out just two-fifths of its present REO properties, GSE losses could be reduced substantially[2]. Critics of rental proposals argue that the government should not be involved in landlord positions and that attempting to rent out GSE REO properties directly would likely cost more in the long run in terms of new organizational costs than the GSEs would lose if they simply sold the properties in bundles to investors.

Do you think that Fannie and Freddie should have a larger role in the U.S. housing market? Is this a power grab on the part of the Fed or the GSEs?

George L.Brophy CRS, GRI, CDPE, ePro

The Rivers Team

Keller Williams Town and Country Realty

1520 Killearn Center Blvd.

Email: George@RingTheRivers.com

cell:850-559-2448

Office 850-297-2255

voicemail:850-523-1580

Visit my website @ http://www.GeorgeBrophy.com

Want a Career with KW? http://www.acareerworthhaving.com

As of 2011, Tallahassee's population is 175,544 people. Since 2000, it has had a population growth of

6.57 percent.

The median home cost in Tallahassee is $166,300. Home appreciation the last year has been -5.55 percent.

Compared to the rest of the country, Tallahassee's cost of living is 2.30% Lower than the U.S. average.

Tallahassee public schools spend $4,176 per student. The average school expenditure in the U.S. is $5,678. There are about 16.6 students per teacher in Tallahassee.

The unemployment rate in Tallahassee is 7.60 percent(U.S. avg. is 9.10%). Recent job growth is Positive. Tallahassee jobs have Increased by 0.81 percent.

Per salaryexpert.com

The cost of living graph below shows the amount needed to buy a basket of goods and services in Tallahassee, Florida and 4 other locations in the United States. Assuming a $50,000 lifestyle in (Tallahassee, Florida), the cost of a similar lifestyle in each of the 4 comparison locations is shown in the graph. Cost-of-living data is derived from ERI's cost of living surveys and web digitization of public domain records. To generate detailed cost of living reports suitable for creating cost comparisons for relocating employees customized to spending patterns, please consult ERI's Relocation Assessor. The Relocation Assessor includes cost-of-living data for 10,000 areas worldwide and allows for customization based on salary, housing, family size, consumption, services and travel. The Relocation Assessor can be downloaded using the form to the right.

 

Mortgage rates continue to push lower, dropping to 3.98% from 4.23% in October of 2010, offering historic affordability to today’s home buyers. While mortgage lending conditions continue to be a challenge, more and more people are seeing the advantage of buying a home sooner rather than later. Lawrence Yun, NAR chief economist, said, “Home sales have been plodding along at a sub-par level while interest rates are hovering at record lows and there is a pent-up demand from buyers who normally would have entered the market in recent years. We hope this indicates more buyers are taking advantage of the excellent affordability conditions.”

For more information- Contact Dustin Schaller at Dustin@RingtheRivers.com or 850-443-9673

This blog written recently by Jane Peters of Los Angeles Real Estate makes is pretty clear.  And, it applies whether you live in Los Angeles or Tallahasee. 

Read on...

Jane Peters - Los Angeles Real Estate (310-473-6919) : Los Angeles Living

I Want to Find a House First and then I will Talk to a Lender!

I was just approached by a potential buyer,  enquiring about a Los Angeles home for sale.

My first question to her was whether she had spoken to a lender.  Her answer was no.  I told her that she needed to do that before starting the process of buying a Los Angeles home.  Her answer:  "I just don't want to talk to a lender and not find a home. So I figure I could just work backwards."

We do not work backwards when buying a Los Angeles house. We look and work forward.  The very idea of working backwards is a negative one.  The only thing that will happen is you will trip and fall.

No good Realtor® worth his or her salt is going to work with you if you are not pre-approved/qualified by a lender and you do want to be represented by a good Realtor® who is going to look after your best interests.

Why do you need to be pre-approved/qualified before buying a Los Angeles house? 

In the best of times you need to find out how much home you qualify for.  And especially in today's lending environment.  Unless you are an all cash buyer you are going to have to jump through several hoops before a lender is going to give you that all-important mortgage.  What you consider credit-worthiness and what the bank considers credit-worthiness are two totally different things.

I am sure you will find a Realtor® who will work with you, but why would you waste  your time looking at homes which you cannot afford?  Wouldn't you rather spend your time making your search a realistic one.  If you start looking at homes above your price range and fall in love with one, unless you come up with the difference in cash you are not going to get it.  And then you will be disappointed when you start looking in a lower price range.

What if there is a home on which you want to make an offer at the same time as others want to make an offer.  They are pre-approved and you are not.  Who do you think is going to get the home?  Not to mention that  even if you are the only one making the offer it will not be accepted without a pre-approval letter from your lender.

If you are serious about buying a Los Angeles home you are going to have to talk to a lender one way or another, so why not do it in the right order.  First.  That is the only way the process will work.

CoreLogic: Fewer U.S. homes have negative equity

The government also reported that the median sales price of new homes sold in October came in at $212,300, a drop from from a revised $213,300 median sales price in September. The October 2011 price is actually an improvement from the same month a year ago, when the market was still in withdrawal from the homebuyer tax credit. The median sales price in October 2010 was $204,200,

“[The] report is right in line with our forecast for modest and gradual improvement in sales activity through the remainder of the year,” said NAHB chief economist David Crowe in a press statement. “Particularly encouraging is the fact that builders continue to hold down their inventories to match the current sales rate, with the number of new homes for sale now down to a sustainable, 6.3-month supply.”

.

1. Tallahassee has every type of active adult community option – from living in the heart of the city to all types of planned communities further out from town. Fort Myers Park is a very nice residential area . There are a number of active adult communities to the north and east, whereas the Gulf of Mexico is not that far to the west.
Real estate prices in the area tend to be lower than in coastal communities. You do not see For Sale signs in the quantity that you see in other Florida towns. According to NAR, the median home sales price was $147,800 in mid 2011.

2. Tallahassee is on rolling hills and an elevation of 188 feet. Its climate is more like that of South Carolina or Georgia than the rest of Florida.

3. Tallahassee is the home of Springtime Tallahassee, the Southern Shakespeare Festival, and the Winter Festival. With two universities and other cultural institutions, it features a rich environment for the arts. Many writers and artists live and flourish here.

4. Crime in Tallahassee is just over a third higher than the national average.

5. Tallahassee Memorial Hospital • Doctors Hospital Of Tallahassee • Healthsouth Rehab Hospital Of Tallahassee & within 1.5 drive to University of  Florida Shands Hospital and within 2 hrs of Jacksonville's Mayo Clinic

6. Tallahassee is a growing, vital community with all types of people living there. The city has voted democratic in the last 9 presidential elections, and has a reputation for being progressive. It is an extremely popular retirement location because it is culturally rich. Many retirees live in developments outside the city.

7. Two universities • The state capital • Charming ambiance with rolling hills and Spanish moss • The springtime festival • Lovely old neighborhoods and parks.

8. . Location, location, location: Within driving distance to many of the Gulf Coast beaches, there are wildlife and recreational opportunities for everyone. From the St. Marks Wildlife Refuge and Lighthouse to Tallahassee's own Miccossukee Greenway and Tom Brown Park or even Florida's Maclay Gardens, recreational activities abound. Whether hiking in Torreya Park or swimming in the cold, clear waters of Wakulla Springs, there is a plethora of things to do outdoors

9. Tallahassee area has its own sense of community and Midtown Tallahassee is one that expresses itself by inviting all of the city. With bustling night life of local taverns and wine bars to locally owned and electic restaurants such as Kool Beanz and Chez Pierre, if you are looking for an evening out, Midtown is a good place to enjoy it.

10. With churches from Baptist to Catholic and synagogues to Buddhist, Tallahassee has churches and places of faith for just about everyone. Many are dedicated to service and volunteering to help others in our community is evident from organizations conducting fundraisers to individuals volunteering regularly. Whatever your particular passion to help is, there is a way to express it here.

For more information- Contact Patty Wilson at Patty@RingtheRivers.com or 850.284.9321

                 Overall the real estate market as a whole may not be currently so bright, but if in Tallahassee there sure are more signs of light.  We were ranked 5th best real estate market in the entire Nation and matched with these mortgage rates it couldn't be a better time to start, if not expend, on your real estate ventures.  It's the first time where it is actually cheaper to own then to rent and with rates where they are matched with the low home prices the risk is also at a all time low.  The banks may be tough to work with but more programs and more flexible guidelines are starting to emerge and should result in more sales and a rise of the market.  Stay tuned for more....... 

Written on May 18, 2009 by Dan Schuman in Active Rain

LIFE EXPECTANCY OF HOME COMPONENTS

Appliances -  Gas Range – 15 yrs

                      Dryers/refrigerators- 13 yrs                        

                      Dishwashers and Microwaves – 9 yrs

                      Compactors – 6 yrs

Countertops  -    Natural Stone – lifetime

                           Cultured Marble – 20 years

Decks -              20 years, depending on climate

Doors -              Exterior fiberglass, steel and wood – will last as long as house stands

                          Vinyl doors – 20 years

                          Screen Doors – 40 years

                          French Doors – 30-50 years

Faucets and Fixtures -   Kitchen sinks – 50 years

                                        Faucets – 15 years

                                        Shower Doors – 20 years

                                        Showerheads/toilets – lifetime

Flooring -       Wood, marble, slate and granite – 100 years

                       Vinyl Flooring – 50 years                               

                       Linoleum – 25 years

                       Carpet – 8-10 years

Garage Doors -             10-15 years

Home Technology -       Security Systems- 5-10 years

                                       Heat and Smoke detectors- 5-10 years

Heating, Venting, and AC- HVAC Systems- 15-20 years

                                           Tankless water heaters – 20 years

                                           Electric or gas water heaters – 10 years

Roofing  -                      Slate, Copper and clay/concrete – 50 years

                                      Asphalt-shingle – 20 years                     

                                      Fiber-cement shingles- 25 years

                                      Wood shakes- 30 years

Siding and Accessories-     Brick, wood, stone, and fiber cement- last as long as the home

                                            Exterior Wood shutters – 20 years

                                            Copper Gutters- 50 years

                                            Aluminum Gutters- 20 years

                                            Copper downspouts- 100 years

                                            Aluminum downspouts- 30 years

Windows-                         Aluminum – 15-20 years

                                         Wooden- up to 30 years 

Source= Study by National Association of Home Builders. Life expectancies listed above are general guidelines only. They should not be interpreted as a representation, warranty or guarantee regarding the life expectancy or performance of any individual product or product line.

 *****************************************************************************************

About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty. The Schumans are experts in the Eastern suburbs of Cleveland and specialize in luxury homes, home staging, and relocation.

 Agents realize that listing your home is a frustrating experience, but you do want it to sell, don't you?  If you want your home to sell, it is important that the potential buyer feels welcome.    You want the buyer to feel as if they are NOT bothering you and the mood of the house is such that all are comfortable.

 Leave potential buyers with their agent and leave the area - go to a park, take a walk and don't make that potential buyer feel rushed.  You really do want the buyer to make themself at home - it could be their next home, if you do it right. 

 Animals can be a distraction for a potential buyer - not all people love your pets the way you do.  Take the pet with you so there is not a persistent barking noise while the buyer is deciding if this is the home for them.  It can also be a liability to leave the buyer and their agent in the house with your pet. 

 Make sure your listing agent has the most current information on your home.  A disclosure, required in the state of Florida, should be available at all times.  You just never know when the right buyer is going to come look at your house and you want them to have as much information as possible before they make an offer.  You can't go take back time and negotiate backwards.

Ask your listing agent to list your house with very simple showing instructions - "Call, Leave message - no answer GO & SHOW".  This makes it possible for anyone to see your home.  You may not get much notice, but you will have more showings. 

 One of the most frustrating parts of listing your home - keeping it clean.  Buyer's specialists, like myself, don't expect a home to be "show ready" at all times, but PLEASE keep it tidy.  Do the dishes and put your clothes away.  It does make a difference.  

 You don't want to give the showing agent a NO - under any circumstance - the buyer may not come back. 

 Make your home as easily accessible to as many people as possible - make the mood warm & inviting and again, it doesn't have to be "show ready", but it should be tidy.

Patty Wilson

Lead Buyer Specialist for the Rivers Team & Keller Williams & FHA Certified Residential Appraiser                                                                                                                                                  

George L.Brophy CRS, GRI, CDPE, ePro

The Rivers Team

Keller Williams Town and Country Realty

1520 Killearn Center Blvd.

Email: George@RingTheRivers.com

cell:850-559-2448