Understand Contingencies in the Florida Real Estate Market.

Posted on by Arona A.
ARONA MCGINLEY REAL ESTATE IN PINELLAS COUNTY

Contingencies are things that a buyer can request that must happen in a set period of time in order for the real estate deal to go through.

Some common contingencies are: Inspection Contingency, Appraisal Contingency, and Finance Contingency.

Inspection Contingency – A buyer can back out of the contract if an inspector finds too many problems or issues with the home.

Appraisal Contingency – This goes into effect if the house appraises for less than the offer contract amount. For example, the contract amount is $500,000 but the appraisal came back at $450,000.

Finance Contingency– The buyer has the option to back out if they cannot secure a mortgage.

11 Reasons You’ll Love Moving To Clearwater, FL

Posted on by Arona A.
Redington Beach Florida
CLEARWATER, FLORIDA

Arona McGinley | Charles Rutenberg Realty | RealEstateBitz.com

Every day we have families moving to Clearwater, FL! Clearwater is one of those places that is perfect for families with children, seniors looking to relax and enjoy the perfect weather or a great golf day. When you move to Clearwater, Fl plan on getting rid of the snow boots and heavy winter jackets. Time to stock up on lots of bathing suits, shorts, and sleeveless tees. Whatever the reason it’s definitely one of the best places to live in Florida.

Clearwater Florida has excellent schools, there is so much history and I can’t forget to add Winter the Dolphin at the Clearwater Marine Aquarium. Clearwater, FL supports over 50,000 local jobs and has been growing every year. If you’re looking for that beach vibe with a slower pace of life then this is the place for you. Check out our downtown and enjoy the museums, great restaurants, and perfect weather. Should you be moving to Clearwater, or are thinking of moving to Clearwater, Fl please feel free to contact me with any questions you may have about this beautiful city. I am always happy to help!

Why Investing In Florida is a Good Idea!

Posted on by Arona A.
  • Is Buying in Florida a good investment?

Buying real estate in Florida is a great investment. Not only is it a place where everyone wants to vacation. Florida has beautiful weather, that low key lifestyle, lots of attractions for the whole family.

Another attraction is Florida has no income tax.

In Florida, we have had a lot of real estate development, and that’s great for investment buyers because the prices of homes are still reasonable.

We have a strong demand for rental properties, condos, single-family homes. We have vacationers looking for options to rent besides staying at hotels.

Finding homes for investors and second home buyers
  • What are some good places to buy investment properties in Florida?

Some great places to buy an investment property in Florida are Tampa, St. Pete Beach, Treasure Island, Madeira Beach, Kenneth City, Seminole, Largo, Clearwater, Palm Harbor, Safety Harbor, Belleair, Dunedin, and Orlando.

If you are looking to invest contact us for some great investment properties.

Your Home Buying Checklist

Posted on by Arona A.
Are you a home buyer in Pinellas County, Florida
  1. Separating your wants -vs- your needs.

Here are a few tips for home buyers that are shopping for houses. How to narrow down your search.

  • What do you need in a Home?
  • What do you want in a Home?

Before you even start shopping think about what you actually need in the home for you and your family. There is a huge difference in what you want compared to what you need. If you work from home all the time you may need a home office. If you work from home once a week you can also say I need a home office. Is a home office really necessary if you only work once a week from home? The bigger the home, the more expensive, so it helps to break down needs versus wants.

Arona McGinley Realtor in Tampa florida

2. Be realistic about your finances

Look at your finances, determine what you can afford to spend monthly for your mortgage. Do you have money for a down payment? Do you have money for escrow? This will determine what price range of homes you can afford.

3. Talk to Lenders, get pre-approved.

This is a letter from a lender that you give to the sellers to show that you are serious about buying their home. It says that the lender is committed to lending you this much to purchase their home.

Once you determine that you are ready to be a homeowner talk with a Realtor about market conditions. This is one of the biggest investments don’t just wing it.


What is a 4 Point Inspection?

Posted on by Arona A.
4 POINT INSPECTION

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

Are You Ready To Buy Your Home?

Posted on by Arona A.
Your guide to buying your first home -

Buying a home can be the most exciting time for you and your family. But don’t lose out on the home of your dreams by doing this alone. This is one of the biggest financial transactions of your life, and I want to help you by making this experience less stressful.

As you go through the process you may have questions on –

  1. Downpayment – How much is required as a downpayment of a home?
  2. How do I get a Mortgage for this home?
  3. How do I complete the Mortgage application?
  4. Do I have enough money saved up to buy this home?
  5. Do I have a good credit score?
  6. How do I write up an offer on my dream home?
  7. How do I negotiate to get the best price?
  8. How do I submit an offer on my dream home?
  9. What do I do when the Seller accepts my offer?
  10. How do I get the home inspected?
  11. How do I negotiate repairs?
  12. How do I get a title search?
  13. How do I get a survey?
  14. What are my closing costs?

There are so many things to think about when buying your home. Don’t go through this alone. Call/Text 727-422-9340 I can help you buy the dream home for you and your family.

Start Building Equity!

Posted on by Arona A.
FIRSTTIME HOME BUYERS
Buy a home and increase your wealth. Contact Arona McGinley-Realtor

Are you still renting? Why are you building your landlord’s equity and increasing their wealth?

With mortgage rates being low… this would be a great time to invest in a home. Most people think that they cannot qualify for a mortgage, but you will be surprised. Get with your local mortgage company today and see what options are available to you. Then call me to find you the perfect home that fits within your budget and your lifestyle.

Stop paying your landlord. Every month you pay your landlord, their bank account goes up because they are building equity in their home. Why are you still not a property owner? You could be building equity in your home and increasing your wealth. Don’t hesitate, take the plunge and call me to find your home today.

Things to Know about FHA Appraisals

Posted on by Arona A.
Arona Mcginley real estate agent seminole florida. FHA Appraisal

In order to use an FHA loan to purchase a home, the property will have to be appraised and inspected by a HUD-approved appraiser. This is to ensure that the property meets HUDS’s minimum property standards.

WHAT IS AN APPRAISAL?

Only an expert can assesses or determine the value of your home. You get an appraisal to determine the value of your home in today’s market. The appraiser usual has a check list of HUDs requirements for FHA.

Things You Should Know About FHA Home Appraisals

  • HAND RAILS – handrails should be installed along open staircases, and in accordance with FHA/HUD requirements.
  • RAILINGS – has to be installed around, decks, patios, porches and balconies.
  • PAINT – all interior and exterior paint should be in good condition. There should be no distressed paint eg. peeling paint.
  • WINDOWS – all windows should be fully operational and not broken. If it is, it has to be replaced.
  • DOORS – doors should be functional and hanging properly.
  • ROOF – If the roof has leaks it must be repaired or replaced.
  • UTILITIES -utilities must be on and functional at the time of the inspection.

These are just some of the things that will be addressed with an FHA Appraiser. To get more information visit FHA APPRAISAL

If you are looking for more information on selling or buying a home please call/text 727-422-9340 or email: arona.mcginley@gmail.com or fill out the contact form.

Mortgage Application Tips

Posted on by Arona A.
Mortgage application tampa bay florida

You have made the decision that you are going to buy a home and you are ready to fill out your mortgage application. Here are some things that you will need when filling out your mortgage application

  • W-2s from the past 2 years.
  • Personal and Business tax returns for the past 2 years.
  • Pay stubs from the past 2 months.
  • Bank account statements from the past 2 months.
  • Proof of other income, example child support, alimony income if using for qualification.
  • Proof of other asserts and Income example collectibles, land, real estate.
  • Other investment statements from the past 2 months