Arona A., Author at Real Estate In Tampa Bay Florida

Sellers Market – Best time to sell is now!

Posted on September 17, 2020September 17, 2020 by Arona A.

There’s never been a better time to sell your home in Florida. With low-interest rates at a record low you can find lots of buyers looking for homes in the Sunshine State. If you were looking to sell your home this would be a great time to get your home on the market.

Here are some tips for getting your home ready for the market place.

Find a listing agent
Look around your home and think about decluttering. What are all the things that you need to pack away to make your home look and feel more spacious? Purge your overflowing closets, pack away collectibles, knick-knacks, remove things off your kitchen countertops to get a cleaner look.
Hire a professional cleaner. The first impression of your home will go a long way. Clean carpets, scrub tile floors, windows, moldings and scrub your bathrooms. Your home must be in pristine condition.
Paint, Paint, Paint, this is a cheap way to give your homea more welcoming and new look. Choose colors that a neutral and would appeal to most buyers. Remember your are trying to appeal to the masses.
The outside of your home should look just as good as the inside. Powerwash the dirt off the home, clean the gutters, give your home a facelift by doing some light landscaping. Paint your front door and add a decorative mat that invites someone to enter.
This is my number one tip… pack away family photos, toys, and awards. You want your home to be warm and welcoming, but you also want the buyer to envision themselves living in the home with their family.

Theres never a better time to sell your home

Now that you have your home looking great, its time to put it on the market. Best of luck!

Why is the Appraisal so critical to your real estate transaction?

Posted on July 3, 2020July 3, 2020 by Arona A.

Did you know that the appraisal can make or break your real estate sale? The appraiser works for the bank, not the seller or the buyer.

In real estate transactions, we have 3 significant players – the buyer, the seller, and the lender. The Appraiser is the eyes of the lender in the field. An Appraiser plays a vital role in every real estate transaction.

For example, we have a real estate transaction of a sale price of $300,000. The buyer is putting 10% down which is $30,000. He is getting a loan in the amount of $270,000. Everyone so far thinks this home is worth $300,000, obviously, the buyer thinks this because he made an offer for the sale price of $300,000.

The lender now sends the Appraiser out to the home to get an appraisal of what the home is worth. Here is where it can become pretty tricky. When the appraiser goes out here are a few things that can happen:

The appraiser determines that the value of the home is higher than the sales price, maybe its $305,000 instead of $300,000. This is great news because we can go ahead with our transaction.
The appraiser, appraisers the value of the home at $300,000 which is the sales price. Excellent! We move ahead with the transaction.
The appraiser values that home lower than the sales price for example $290,000. This becomes a problem for all parties involved. A couple of things can happen here which is not so great for the parties involved.

The Lender can still lend the buyer the money to purchase the home but only for $290,000, not the $300,000 sale price.
The seller can either eat the $10,000 and sell the home for $290,000 instead of $300,000. This can sometimes happen, where the seller comes down to the new appraisal price.
The buyer can buy the home at $300,000 but would have to bring additional money to the table. You can see this happening in a seller’s market. The loan is now $290,000 with a down payment of $29,0000, the loan amount would be $261,000. The buyer has to bring an extra $10,000 to purchase the home at $300,000.
The last thing that can happen is that the whole transaction blows up because neither party is willing to negotiate.

You can see how the Appraiser is vital to a real estate transaction. It does not matter what the buyer or the seller thinks the home is worth. It matters what the Appraiser thinks…that’s what counts!

What is a 4 Point Inspection?

Posted on March 30, 2020March 30, 2020 by Arona A.

Your offer has been accepted to purchase your dream home, and now you have to set up an inspection to make sure the home is in good condition.

When buying a home, you will have to get a home inspection if you’re getting a mortgage and even if you are purchasing with cash. You want to have a home inspection done no matter what the situation. By having a 4-point inspection done, it lets the bank or the homeowners know the quality of the home that they are purchasing.

A 4-point home inspection includes

Foundation
Roof
Electrical
Plumbing
HVAC systems
Damages caused by termites, flood, fire, and mold.

Any of the above can impact the value of your home. If a home inspection is not done, and later you find out that the foundation is cracked or the roof is rotted, this can be a costly fix for the buyer.

Once something is revealed in the home inspection you can negotiate with the seller for a lower asking price.

Who can do a 4-Point Home Inspection?

A Florida licensed general contractor
Architect
Building Inspector
Engineer
ASHI Home Inspectors
FABI Building Inspectors
NACHI Certified Home Inspectors

**A Home Owner cannot do a Home Inspection

Why you should have a Foyer in your home

Posted on March 28, 2020March 28, 2020 by Arona A.

A Foyer whether big or small is a space that you welcome your guests. This is a space that you can vamp up with color, glamour or make it cozy and intimate. A foyer can add value to your home when selling it.

What is the use of a foyer in a home?

Your foyer is a space that you greet your guests or anyone that happen to knock at the front door. It gives you an opportunity to greet an unexpected visitor without them entry into your family space.

Is a foyer necessary?

I believe a foyer is necessary for any home. It can be the one area that is kept neat and tidy to greet guests that calls on you unexpectedly. You can create an illusion of a grand entry to your home to wow your guests.

What do you need in a foyer?

Since we live in Florida you should have

RUG – a weather-resistant rug. This should add a wow factor to your foyer.
SEATING – I also love having a bench with a couple of bold color pillows.
MIRROR – I love having a mirror in a foyer. It can open up a small space and make it appear larger.
TABLE -Have a console table for things like keys and other knick nacks.
FLOWERS -Have a nice flower arrangement or a couple of books.