Too Much Scent – Could be masking offensive odors.
Wonky Windows – Can signal issue with foundation or poorly installed. Pricy to fix /repair.
Poor Tiling – Bad DIY tiling can cost a lot to re-do.
Mold – Inspect bathroom and sinks for small black or gray spots.
Foundation issues – Tip Offs: Large gaps, sticking doors or windows, cracks, uneven floors.
Water Damage – Musty odor is an indicator. Check walls & ceilings for waterlines.
Poor Maintenance – Can indicate seller ignored other ongoing issues.
Cosmetic Updates – Could have been added to hide deal breakers.
Nearby water – Higher chance of flooding.
Bad Ventilation – Allows moisture to stick around, creating mold.
Source: Realtor.com – Courtesy of Residential Real Estate Council
Have a Great Day!
As always, for all your Real Estate needs in the Sarasota Area Call or Text Larry @ 941-993-3125 or Go to Larry’s RE/MAX Site and search all you like LarrySellsSarasota.com
Ready to Buy? Top expenses to factor into your purchase.
5 Hidden Costs of Homebuying
HIDDEN COSTS OF HOME BUYING
44% OF HOME BUYERS report they weren’t aware of all the costs associated with buying a home. Top expenses that new home buyers sometimes forget to factor in:
CLOSING COSTS These range between 2% to 5% of the loan amount. The national average is about $6,000.
HOME INSPECTIONS These typically run from $300 to upward of $600 depending on the location and size of the home.
TITLE INSURANCE The average cost of title insurance is around $1,000 per policy, but that amount varies widely from state to state and depends on the price of your home.
POTENTIAL RENOVATIONS A 2017 survey found that new homeowners spent an average of $10,601 on furniture, appliances, and home repairs — in the first year.
MOVING COSTS The national average cost of moving is about $1,400 with a range from $800 to $2,150. (That’s for a two-person moving team completing a local move of less than 100 miles. The average cost of a long-distance move: between $2,200 and $5,700.)
SOURCES: Realtor.com, Forbes, National Association of Home builders
Have a Great Day!
As always, for all your Real Estate needs in the Sarasota Area Call or Text Larry @ 941-993-3125 or Go to Larry’s RE/MAX Site and search all you like LarrySellsSarasota.com
Location! Location! Location! Sarasota, Florida is accessible, close to airports and major highways. It is one of the most beautiful locations in the USA. Magnificent Beaches, Arts and Entertainment are all here in this Paradise on the Gulf Coast!
I’m Larry Brzostek a Broker/Associate with Re/MAX Alliance Group and I will guide you through the process.
Types of Property A second home can be a single family home, a condominium or a multifamily with 2 or more units (adding the possibility of rental income Each type of property has its own pros and cons. Consider carefully how you will use the property. If you like to work on your home, choose a single or multi-family. If you prefer all maintenance to be done for you, then a condominium with a monthly maintenance fee Deciding what you like and how you will use it should give you direction in your search.
Consider how you’ll use the home. Will it just be for family and friends, or do you plan to rent it as well? And realistically, how many times will you use it per year?
Evaluate locations. Are there enough amenities and attractions to keep you – and renters – coming back year after year? Local building and zoning codes should be investigated. Are they restrictive or nonexistent? Does the property conform to the codes and can the property be rebuilt in event of damage. These are important questions.
Availability and Inventory In this fast changing Real Estate Market it is important to know what homes are available. Its is also important to Get prequalified (a loan approval for a certain dollar based on finding an acceptable property) cuts down on the closing time.
Negotiating Once you have found the property that suits your needs, negotiating the transaction can make it yours. The more questions you ask (and get answers to) the more able you are to sketch out an offer that will be acceptable to the seller. Every real estate transaction has 3 elements – Price, Terms. and Conditions. Neither buyer nor seller always gets all three. For example, a buyer willing to meet the seller’s price might want concessions on the terms (ex. large mortgage contingency, later closing) and/or conditions (repairs to property, extra items included). How long a property is on the market is not confidential and may give you some insight to make a win-win proposal for both parties.
Financing and Tax Considerations Talk to your accountant or financial advisor This person can advise you on such issues as the tax implications of rental income (should you decide to rent your property and changes in Federal tax laws that could impact deductions.
Working with an Agent I am a professional Real Estate agent and make my living marketing and selling properties.
Knowledge: Knowing the Comps (comparable properties that are listed and more importantly, comparable properties that have recently sold) can be critical in your decision on the offer you make on the property.
Experience: I’ve been selling second homes and vacation properties since 1986 starting on Long Beach Island, NJ and Here in Sarasota, FL since 2005.
Dependability: I am always available to meet the needs of my clients No location or town is perfect; a successful agent knows the pluses and minuses of the area. A good agent can help you find your dream house; a great agent can make it a pleasure!
Service: Expect outstanding service and GET IT!
Check out my website LarrySellsSarasota.com Look around you can search for properties and find more information about Sarasota and much more
CONGRATULATIONS! You are a Second Home Owner
For more information Call or Text me @941-993-3125
by Peter Crowley, President of RE/MAX Alliance Group
Peter Crowley, President RE/MAX Alliance Group
As a co-owner of a local title company, we are often asked, “Why do I need title insurance?” Depending on your circumstance, the answer may vary. As with most forms of insurance policies, no one is typically thrilled to pay for something that you hope that you never have to use. Unlike your homeowner’s insurance or car insurance, however, title insurance is a one time charge that will provide protection for as long as you own your home.
If you are financing your home, your lender will require a lender’s title policy to insure that their security interest in your property (the mortgage) is in superior position to anyone else that may claim an interest in your property. The amount of the coverage for the lender’s policy is the amount of the outstanding mortgage principal. When purchasing a home with a mortgage, because you are already paying for a lender’s title policy, the additional cost for an owner’s title policy is only slightly more and it just makes sense to include the owner’s policy – so that you are covered. The lender’s policy alone does not give you as the owner any coverage.
Prior to closing on the sale and financing of your home, the company conducting the closing will search the public records to discover any liens (public or private), encumbrances (outstanding mortgages or restrictive covenants from a condo or homeowners association) or easements (utility or other agreements to use your property). If there are any issues they may create a cloud on title, which typically must be resolved prior to closing.
Since our local market has a large amount of cash closings, we are often asked, “If I am not getting a mortgage, then why do I need to pay for title insurance?” In this case, an owner’s title policy will protect the owner for similar undiscovered liens or encumbrances that may impact the owner’s ability to use their property as they intended. The amount of coverage for an owner’s title policy is typically the purchase price of the home. In some cases, such as a fraudulent transfer, the owner’s title policy would protect them from the economic loss of not being able to occupy the property. Without an owner’s title policy, your only recourse in the event that a title defect is discovered would be to sue the seller/grantor based upon the warranty deed that you were provided at the time of your purchase/closing. However, if that seller/grantor is deceased, or cannot be located, or does not have the assets to compensate you for any loss you may have suffered, you would be left without a remedy (unless you have title insurance).
We would like to thank our guest author Peter Crowley Larry and Ann Brzostek
As always, for all your Real Estate needs in the Sarasota Area Call or Text Larry @ 941-993-3125 or Go to Larry’s RE/MAX Site and search all you like LarrySellsSarasota.com
by Peter Crowley, President of RE/MAX Alliance Group
Peter Crowley, Broker/Owner RE/MAX Alliance Group
It has been well documented that the costs for supplies for new construction have risen steadily since the pandemic – a simple function of supply and demand impacting the cost of steel, concrete, and most importantly, lumber. These escalating costs have forced several builders to stop or significantly reduce the number of homes that they are producing for fear of absorbing those increases and eroding their profit margins.
The reason for this imbalance in supply and demand, particularly with lumber, is a congruence of factors. Many lumber mills were forced to shut down their factories at the onset of the pandemic. Furthermore, as mills began to open, the industry underestimated the intense demand stemming from both the home improvement projects spurred on by being “locked” inside for months, as well as resurging demand in new homes for people looking to relocate or upgrade in the post-pandemic economy. This imbalance of supply and demand has led lumber prices to reach a peak of over $1600 per thousand board feet in early May (as a point of reference, the price was less than $400 per thousand board feet a year ago). As lumber suppliers woke up to the increased demand, they have been slow to respond with an increase in production due to the far-reaching labor shortages brought about by the pandemic.
There seems to be a light at the end of the tunnel, however. As more workers return to the mills and the mills begin to operate at full capacity, the production of lumber is gradually picking up pace. Furthermore, some of the demand from stimulus driven remodeling projects has dampened, thus bringing the supply and demand curve closer to some semblance of normal. The previously mentioned pause by many home builders is also loosening up the demand for lumber. The result is a dramatic drop in the lumber futures market, which has tumbled more than 45% (closing just below 900 on June 18). While lumber is the most dramatic example of this increase in supply, most of the other materials and components of new construction are following a similar trend.
Does this mean new home prices are going to come crashing down and buyers should wait? Not so fast. What it hopefully means is that builders will be able to resume a more “normal” pace of construction to start to fill the huge gap of new home units needed to keep up with the current level of demand – by some estimations the nation is lacking more than 3 million homes to satisfy demand. The additional supply of new homes is necessary to supplement the anemic existing home inventory to merely keep up with the existing level of demand.
What is significant about the rapid decline in the lumber futures market is the possibility that the inflation pressures that we have experienced recently (the Consumer Price Index rose by 5% – the fastest pace in 13 years) are only temporary because of these wild fluctuations in materials costs brought on by the pandemic. This seems to be the basis of the Federal Reserve’s stance to keep interest rates low – citing these as temporary inflationary pressures rather than permanent.
The coming months will be telling to determine if these fluctuations in prices were indeed driven by supply challenges brought on by the pandemic. If so, we should expect to see a stabilization in the cost of new construction and renewed confidence by the building industry to resume a normal level of housing construction. A more modest inflationary environment should also lead to a more sustained economic recovery, which is welcome news as we approach our new normal.
We would like to thank our guest author Peter Crowley Larry and Ann Brzostek
As always, for all your Real Estate needs in the Sarasota Area Call or Text Larry @ 941-993-3125 or Go to Larry’s RE/MAX Site and search all you like LarrySellsSarasota.com
Memorial Day to Labor Day is peak moving season with more than 65% of relocations happening during the summer months. Take the stress out of your move with these tips from the Professional Movers Association of Florida.
7 Tips for a Smooth Move
Plan your move in advance so you have time to evaluate your options, and make a decision based on overall value (quality low stress move, insurance/valuation to protect your move).
Confirm that each mover considered carries commercial general liability insurance, automobile liability, cargo liability and workers’ compensation. This can be verified by a certificate of insurance.
Check if the moving company is licensed by Florida Department of Agriculture and Consumer Services by visiting floridaconsumerhelp.com.
Get a written estimate from several movers and compare them. The estimate should be based on an actual in-person or virtual inspection of your household goods. Estimates and Contract for Services must include: – Name, telephone number, physical address and state registration number of the mover. – Date the contract or estimate was prepared and proposed date of the actual move. – Appropriate pickup and delivery address, name and telephone numbers of the shipper. – Name, telephone number and physical address where the goods will be held, if necessary. – Itemized breakdown, description and total of all costs and services provided. – Acceptable forms of payment available.
Determine if the company is a moving broker or moving company. A broker arranges for the transport of your household goods for a fee and sells your move to a moving company – which significantly reduces a consumer’s available funds for the actual cost of the relocation services. Often, the consumer is not aware their move is being sold to another company.
Check your homeowners or rental insurance policies for moving coverage.
Accidents happen, even with the best movers. Discuss valuation with your mover; know the difference between released value at 60 cents per pound and full value protection.
Source: Florida Realtor magazine
Have a Great Day! Larry and Ann
As always, for all your Real Estate needs, call or text Larry @ 941-993-3125 or Go to Larry’s RE/MAX Site and search all you like LarrySellsSarasota.com
It is critical to align yourself with experienced loan officers and real estate professionals to help prepare you to be in the best position possible to win a multiple offer scenario.
by Peter Crowley, President of RE/MAX Alliance Group
Peter Crowley, President RE/MAX Alliance Group
By now, you would have to be living under a rock not to have heard about the intensely competitive real estate market throughout our local market. This seller’s market is not limited to Southwest Florida, but rather the entire country is experiencing the challenge of a limited supply of homes against swelling buyer demand. If you are an active buyer in today’s real estate market, you have likely experienced the frustration of losing out in a multiple offer situation on your potential dream home. All hope is not lost, however, if you equip yourself with some knowledge, persistence and patience.
It should come as no surprise that “cash is king” in a competitive multiple offer situation. Because of the larger percentage of second home and vacation home purchases in our local market, cash has always been a more prominent factor compared to the national average. This has been exacerbated by new entrants into the market – institutional investors backed often by Wall Street investment funds. Often referred to as “iBuyers,” these institutional investors are looking to capitalize on both the increase in home prices as well as the strong rental market for residential homes. To give one example of the increased competition brought on by these institutional investors, an entire newly built community in the Tampa Bay area consisting of about 50 homes was purchased in bulk by an institutional investor who plans on renting the homes, thus eliminating the consumer/purchaser all together.
If financing is a requirement for your home purchase, you must be more prepared than ever when entering this competitive real estate market. Now, more than ever, it is critical to align yourself with experienced loan officers and real estate professionals to help prepare you to be in the best position possible to win a multiple offer scenario. Whenever possible, it is helpful to get a full financing pre-approval on the specific property to demonstrate your ability to follow through on the purchase. An increasingly effective tool to compete with cash offers is the addition of an Appraisal Gap Addendum which states that the buyer has the financial means to cover the difference between the appraisal on the property and the actual purchase price.
Whether you are financing or paying in cash, there are a few more important factors to consider to position your offer most favorably. Escalation clauses – where buyers agree to incrementally increase their offer to beat out competing bids – are almost commonplace in this competitive environment. In addition, providing flexibility to the seller in the occupancy of the home (sometimes in the form of a post occupancy agreement) gives the seller additional time and peace of mind to know they have time to find their replacement home. Furthermore, while it is never advisable to forgo a home inspection all together, most buyers are offering to purchase the home as is and take on any responsibility for repair costs. Finally, offering to pay the seller’s closing costs can be another incentive to allow your offer to stand out above the rest.
Through the help of an experienced Realtor®, buyers can navigate through this competitive real estate market to position themselves in the best way possible to successfully purchase their new home. Setting the right expectations and preparing yourself to put your best foot forward in a multiple officer scenario will lead to an accepted offer on your new home. Always remember, “if at first you don’t succeed, try, try and try again.” Your dream home awaits.
We would like to thank our guest author Peter Crowley Larry and Ann Brzostek
As always, for all your Real Estate needs in the Sarasota Area Call or Text Larry @ 941-993-3125 or Go to Larry’s RE/MAX Site and search all you like LarrySellsSarasota.com
Home Buying – Secrets for a Stress Free Transaction
Lay Groundwork Discuss the type of home you are looking for including style, price and location.
Work with an Agent I will guide you through the process every step of the way. The Seller usually pays the real estate commission for their agent and the buyer’s agent. I will be there to help you succeed.
Communicate Ask questions if something is confusing ask about it before you sign. Be direct with your team and speak up if you don’t like something.
Be Flexible Circumstances always change. Besides your financial capabilities almost everything else is beyond your control. Any Questions? Call or Text me @ 941.993.3125
Have a Great Day! Larry
As always, for all your Real Estate needs, call or text Larry @ 941-993-3125 or Go to Larry’s RE/MAX Site and search all you like LarrySellsSarasota.com
Happiness Owning your own home is great! Fix it up, get a dog or cat, plant a tree… Make it your own!
Tax Savings Get excellent tax benefits and deduct the interest paid on your mortgage and other home-related expenses.
Appreciation Home values usually go up over time which becomes equity when you sell.
Equity Part of your monthly payment goes toward the principal balance of your loan, which builds equity.
Roots Homeowners stay in their homes four times longer than renters, helping them build ties in their community.
Education Homeowners’ students earn higher test scores and graduate at a higher percentage than those of renters.
Thinking of Buying a home? Contact me and let’s talk! Call or Text me @ 941.993.3125
Have a Great Day! Larry
As always, for all your Real Estate needs, call or text Larry @ 941-993-3125 or Go to Larry’s RE/MAX Site and search all you like LarrySellsSarasota.com
Meet with me, I am a professional Realtor, Broker Associate, (CRS) Certified Residental Specialist, (CLHMS) Certified Luxury Home Marketing Specialist Discuss the type of home you are looking for, including style, price and location.
Get Pre-Approved You will need pay stubs, W2’s and bank statements. Knowing what you can afford is critical to a successful experience.
Search for Homes The fun part! I will schedule showings and help you find the perfect home.
Make an Offer! I will prepare your offer based on the price and terms you choose.
Negotiation and Contract It may take a few tries to get there, but hang in there. You’re on your way!
Under Contract You and the seller have agreed to the price and terms.
Final Details and Closing Order the appraisal, have an inspection and review terms with the lender. Now you are ready to close.
CONGRATUALATIONS! You are now a homeowner!
Thinking of Buying a home? Contact me and let’s talk! Call or Text me @ 941.993.3125
Source: Breakthrough Broker
Have a Great Day! Larry
As always, for all your Real Estate needs, call or text Larry @ 941-993-3125 or Go to Larry’s RE/MAX Site and search all you like LarrySellsSarasota.com
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