Every home sale transaction has a lot of moving parts. Builders, lenders, inspectors, appraisers – anyone involved with the transaction—has their own guidelines and processes that need to be followed. With so many details to keep track of, it’s easy for home buyers to get tripped up.
Many years ago, my sister had a Chicago apartment as close to the El as the one Elwood Blues inhabits in this scene from The Blues Brothers. Her apartment was nicer, and considerably more spacious, but from her back room, I swear you could open the window and almost touch the train tracks.
She got used to it. And we got used to stopping every 8 – 10 minutes into a phone conversation to let the train go by. Point is, it was just one imperfection (albeit a large, noisy, rumbling one) at a property that had lots of other things going for it. It was less than a block from Wrigley Field. You had your choice of a ton of great bars and restaurants, every night of the week. And, obviously, it was close to public transportation.
In our market, homebuyers (or their agents) will often request that a home seller provide a home warranty as part of the sales contract. It’s like an insurance policy for some of the bigger ticket items in a home that you wouldn’t want to fail. For instance, home warranties for existing homes typically cover mechanical systems and appliances, and, in our market, at least, can be purchased for around $400 or less (depending on the home). [Read more...]
Quick, what’s the first thing that comes to your mind when you think of Florida? A lot of people will answer the beach (and, yes, some will say Disney or Daytona). But I’d guess most people visiting Florida think about visiting the beach, whether it’s down south in Miami or the Keys, or on the panhandle in Panama City Beach or Destin.
Not coincidentally, when people think of waterfront property in Florida, they’ll often think of the beach, as well. But here in Northeast Florida (Jacksonville, Ponte Vedra Beach, St. Augustine, etc.), there are plenty of options for homebuyers beyond just the beach/oceanfront. [Read more...]
Update: And on the way out the door this morning (9/13), another property I wanted to show now has multiple offers on it.
If you don’t think the market is evolving, take it from me, and Archie Bell & the Drells. The market is tightening up.
Over the past two days, I’ve been researching properties for a customer, and making showing appointments to see some of those properties later in the week. Over the span of just 48 hours, four of the homes I was planning to show have gone under contract. It’s evidence that buyers are getting motivated and snatching up the good properties that are out there.
So if you’re in the market to buy a home right now, are you ready to move fast on the home you want? Do you have your financing in order? Because if you’re not prepared, somebody else may move in and put an offer in on that home you like quicker than you can say, “Do the Tighten Up”.