All Eyes are on Hurricane Gustav Headed for New Orleans

 

All eyes are on Hurricane Gustav, headed straight for NEW ORLEANS AGAIN, This storm is a monster, like Hurricane Katrina was!  It is a category 3 hurricane, that was a Category 4.  This is absolutely devastating for the people of the Gulf Coast!

Hurricane Gustav

Gustav has skirted past Florida and has a direct path to Louisiana.

 

New Orleans cannot afford another storm after Hurricane Katrina in August 2005 that devastated them!

Many families are still in FEMA trailers as their homes have not been rebuilt yet.

The levees have not been fixed. They are not ready for a storm of this magnitude.

Tropical Storm Fay, 2 weeks ago brought us 27 inches of rain here in Melbourne Florida. It was only 30 to 40 mile per hour winds. But, many lost their homes due to flooding across the state of Florida.

Gustav is packing 115 mile per hour winds!

I was in Hurricane Jean and Frances in 2004.  They are not to be taken lightly.

Mandatory evacuations are in effect for ALL RESIDENTS in Lousiana.  Tens of thousands are being shipped out in cars, buses, trains, planes and whatever way they can get people out of the state. They are being shipped all over the United States. Read the story here http://www.floridatoday.com/apps/pbcs.dll/article?AID=/20080831/BREAKINGNEWS/80831001/-1/&source=nletter-news.

Pets are being shipped out also.

If they stay, there will be no help and no place for residents to evacuate within New Orleans should they get flooded by the storm. 

The SuperDome, which housed thousands during Katrina will not be used as a shelter this time.

There is an evacuation order for parts of Alabama now also.

Gustav is expected to make landfall sometime tomorrow.

There are two storms directly behind Hurricane Gustav.

Tropical Storm Hanna is headed for the east coast of Florida.  http://www.floridatoday.com/apps/pbcs.dll/article?AID=/20080831/NEWS01/808310321/-1/&source=nletter-news And the other storm has not been named.

Let us all keep these families in our thoughts and prayers as Hurricane Gustav finds his way onto shore.

My Tenant Left in the Night…They Left all their Things…the House is a Mess

 

My tenant left in the night

I’ve been a landlord for almost 13 years. 

 

I have placed 100’s of tenants in my own rentals.

I have only had to evict 3 of my own tenants in 13 years! I have been so blessed and never had any real tenant issues.

I’ve never gotten a house back in terrible condition!

Well, I have to say…I’ve just had my first EVER tenant that left in the night.  They left on the 23rd of August and their rent was paid until August 31.  I had an $800 security deposit. So, they owed me no money when they left.

BUT..they left everything they owned..in the house..including the cockroaches and the grease on the walls!

This tenant was with us for over four and a half years and paid the rent every single month on the 1st or 2nd.  Then, it is my understanding that they got into a terrible financial situation, and could no longer keep their business expenses or personal expenses paid.

A landlord must proceed with caution in determing whether a property is actually abandoned. If you are unsure how to proceed, contact a local attorney to guide you through the process of reclaiming the property.

Here in Melbourne Florida for a house to be considered abandoned ALL of the following conditions must be met:

1. NO one has been in the rental unit for a full 15 days AND you can prove it.

2. The rent is unpaid.

3. No resident or occupant has given the landlord any notice, verbal or written stating that they are going to pay the rent or come back at a later time.

Be very cautious in dealing with abandoned properties. Be sure you keep excellent records in your file.  Be sure to take lots of pictures for your records and keep them in your files.

I love being a landlord.  You just have to learn to take the good with the bad. Every job has it’s ups and downs.  And one of the downs is when your tenant leaves all of their stuff in the house, and they just go. It’s just part of

FHA is Putting the Squeeze on Buyer’s Wallets!

 

FHA is putting the squeeze on buyers wallets

Beginning October 1, 2008 FHA, Federal Housing Administration will increase it’s minimum down payment amount for loans from 3% to 3.5%.

On a $200,000 home this would be an additional $1000 down to a buyer.

Is this a concern to buyers, lender and REALTORS?

FHA has tighten it’s guidelines in the last couple of years.

Will this squeeze some buyers out of the market?

FHA will also no longer allow charities to provide down payments or down payment assistance to buyers. I know that in 2004-2006 many buyers used charity assisted down payments in order to purchase homes. 

This could put a pinch of some buyers, that may not be able to qualify for a loan without this type of assistance.

Only time will tell if these new “adjustments” to FHA guidelines will affect buyers.

Visit my website at www.SandyShoresMelbourne.com

When Was the Last time You Reviewed Your Insurance Policy?

 

Homeowners Insurance

Here in Brevard County Florida we all know that we are currently in the midst of Tropical Storm Season. 

So, my question to you is, when was the last time you reviewed your insurance policy?

When was the last time you contacted your insurance agent to discuss your policy?

I have had homeowners tell me that they haven’t spoken to their insurance agent in over ten years, nor have they updated their coverage! I am shocked and I tell them so!

When was the last time you contacted your insurance agent to discuss your policy?

Homeowners Insurance

Do you know what it covers?

Do you have enough coverage on your home?

Does your policy cover flooding?

Do you have a separate flood policy?

What does that policy cover?

Does your policy cover mold and mildew?

Does your current insurance policy adequately cover the belongings in your home? 

Perhaps it is time to contact your insurance agent and discuss your policy to understand completely what it covers.

I talk to my insurance agent numerous times a year.  Perhaps that is because we own rental homes and I am always checking on coverages and deductibles.  I am always checking to be sure that we have everything we need in case of any kind of loss.

If you don’t talk to your insurance agent at least once a year, than you are not talking to him/her often enough. Make it a point to call them every year when you receive your annual renewal notice.

With so many changes that have taken place here in Brevard County Florida it is imperative to understand the dynamics of your policy.  Often times we wait until after a storm, and often times, then, it is too late!

Do your homework.  Call your insurance agent today!

Criminal Background Checks for FREE!

Criminal Background Checks for FREE

I found this great website and I wanted to share it with all of you…

Do you have a prospective tenant?

Have a completed rental application?

Need to do a credit check?

Need to do a criminal background check?

Or just looking for additional information on someone?

Criminal Background Checks

Well, you can pull a criminal background check for FREE!

Just go to http://criminalsearches.com/. Type in the name of the person that you are researching and if there is a record available, it will provide you with the information.   

This is a great tool for landlord and property managers!

Happy Searching!

Stand in Front of Any Home in the US Without Leaving Your Desk

Google maps

Interested in finding out more information about what a particular home and it’s surrounding area looks like?

Many of you may have heard of this before. 

But, for those who haven’t…Check out Google Street views today. 

Just go to http://maps.google.com/ and type in the complete address of the home that you are researching, including city and state.

First, it will pinpoint it on the map for you. 

Then, choose street views. It will ‘take you to the home’. It is as if you are standing in the street directly in front of the house.

Don’t forget to switch to full screen, so you can get a better view.

If you like, you can  “navigate” your way down the street and view all of the properties surrounding that home. 

If you have never tried this before, it is incredible!  

Try it for yourself today!  Start with your own address.

WOW!  I absolutely LOVE IT!

 

 

Welcome to Palm Bay Florida

Brevard County Florida map

Palm Bay Florida is one of Brevard County’s largest and fastest growing communities. It is located just south of Melbourne.  It covers land from Indian River to west of Interstate 95. Palm Bay is Florida’s sixth largest city. More than 88,500 residents live in Palm Bay.

Palm Bay Florida is home to one of Brevard’s largest employers – Harris Corporation. Due to Harris’ location, many other technology related companies are located here in Palm Bay.

Palm Bay has movie theaters, strip malls, convenience stores, and family attractions all within a few minutes drive, Palm Bay has great amenities, like fishing, boating and swimming in the Indian River.  Do you like golfing? Well Palm Bay has that too.

Palm Bay has numerous elementary schools, middle schools, and two high schools – Palm Bay High School and Brevard’s newest high school, Bayside High.

Come and visit Palm Bay Florida.  You’ll love it here! Palm Bay is one of Brevard County’s best places to be.

Visit my website at www.SandyShoresMelbourne.com

School Starts In Brevard County Florida

School starts in Brevard County Florida

Well, here we are…school starts on Monday August 18, 2008 here in Melbourne Florida.  We get so many questions from buyers and owners about the local school systems here in Melbourne Florida. 

Did you know that you can visit the Brevard County Schools website for the most comprehensive school information available? Did you know that you can view each individual school’s scorecard to see how well that school has performed over the last several years? The county website is full of good information for parents and students.

I know as a parent, every year I look for the Melbourne Florida 2008-2009 School Calendar  for Brevard County Schools to help plan the school year

In addition, you can find school information across the nation.  You can find school rankings. You can type in a a home address and the search will indicate what school your student should be attending.  Or you can see what area is close to a specific district.

So, have a great year and see you at school on Monday!

Motivated Sellers, Priced to Sell…But Are You Sure?

Motivated seller, priced to sell...are you sure about that

We’ve all seen them…

 

We all drive by them everyday…

We all feel for them…

Those stale listings that just sit and go unsold…

But why?  Why are they still for sale?

Over priced? Poor location?  No curb appeal? No staging?  Poor condition?  Knee high grass? Or just plain old bad luck? Which is it? Or is it a different situation for every one of them?

Well, frankly for me…I feel for the sellers… but, let my clarify myself……I feel for the sellers that truly have an interest in selling their home…BUT CAN’T!

Everyday I drive by the same 4 homes that have been for sale for over a year and one for over 2 years now.  Let me use one as an example…

This particular home first went on the market here in Melbourne Florida in Brevard County. Our market

House not sold

peaked in 2005 and began a steady decline in 2006. 

• Listed for sale in June 2006 with a real estate company for $269,000.  In my opinion, 10% too high for the market.
• Home withdrawn.
• For sale by owner for 6 months at $259,000.
• Real estate company #2 listed it at $239,000. I viewed the home at an open house…the agent asked what I thought…I told her it needed new carpet, fresh paint inside, the rooms needed to be cleared out and opened up to get that ‘musty’ feel and smell out. The price was again 10% high for the current market.  Remember, our market was continuing to decline.
• The listing expired and company #3 took it at $199,000. They had an open house and I visited. The agent asked me what I thought and I told him, the items from the previous company open house had not been been corrected. The listing expired.
• A discount company has the listing now.  The price has been dropped from $199,000 to $188,900 to $164,900 and the house is still sitting on the market since June 2006 PRICED $105,000 LESS THAN IT WAS THEN!  
• Today’s list price is less than what similar homes in the area are selling for and no one is biting!
• The location is good, the floor plan is good, the curb appeal is attractive and there have been no less that 8 houses in this area that have come on the market and sold since this seller placed her home on the market.

We see it everyday, that home that doesn’t get the careful consideration it needs; all the work MUST be done before the sign goes up.  And the property should be priced carefully for current market conditions.

Visit my website at www.SandyShoresMelbourne.com.

Are Landlords Repositioning Themselves in Today’s Market?

Currently, there are almost 90 million Americans that rent their homes. 

Owners losing their homes to foreclosure

And about a million more are expected to be added to that number this year alone. These will be previous homeowners that have sold their homes by short sale, or for less than the balance of their mortgages. And, there will be owners that have lost their homes to foreclosure.

So, what does this mean to the landlords? 

Some rental houses will begin filling up.

What about landlords that rent to only people with perfect credit?

Will some landlords have to shift their thinking?

There will be previous homeowners joining the tenant ranks, but the ones that went into foreclosure won’t have perfect credit.  In fact, their credit may possibly be destroyed because of the foreclosure. 

So, what is a landlord to do? Perhaps, some will have to change their way of thinking.

As a landlord, I have no problem with renting to people with blemishes on their credit.  

Homes for rent

Bad things sometimes happen to good people.  I know many hard working people that pay their bills on time.  Some people just get stretched too thin. I look at every individual’s situation on a case by case basis.

I also know many owners that can pay their mortgage payment at $1000 a month, but as soon as it jumped to $1400 a month, they were no longer in a position to pay it. 

So, in this ever changing real estate market, if landlords reposition their thinking, they’ll soon be able to get their properties rented to good, hard working tenants that previously had hoped to own a slice of the American Dream.

If you’re a landlord, are you rethinking your position in today’s market?