Want to Lower Your Annual Insurance Premium in Florida?

 

My annual homeowners insurance bill came in the mail the other day.  It’s not due until the end of April, but it is always sent out 2 to 3 months ahead of time. I was very curious and a bit nervous to see what my premium was going to be this year, as I felt certain that it would probably go up (as they always seem to – you know how insurance is.)

Well, the bill was the same as it was last year, $698.00.  I was absolutely tickled! 

In 2007 my insurance premium was over $1700.00 a year.  Then I had a free wind inspection done on my home. A certified, licensed inspector came out and checked the doors, the windows, storm shutters (if there are any), the roof, the bracing on the roof and any upgrades made to the home.  The items that they focus on are items that will keep your home protected in case of a tropical storm or a hurricane. If you don’t have wind upgrades to your home, then they recommend the necessary precautions you should take to prevent severe damage in the event of a storm. 

In many instances, if your home has been upgraded with new windows, a newer roof, storm shutters, you may be eligible for deep discounts on your insurance policy.

Since I had a new roof in 2005 and a new garage door my annual insurance premium went from over $1700.00 to $698.00.  I couldn’t believe the discount.  I have told many, many people to have the inspection done and most have saved no less than $300 to $500 a year on their insurance.

The state of Florida is still offering wind inspections to residents on their single family Florida properties through the My Safe Florida Home website. 

They performed 400,000 inspections for free.  Although the free inspections are no longer available, you can pay to have the inspection done.  I believe the cost is approximately $150 – $200, but check with the individual inspector to be sure. Certified inspectors can be located online on the My Safe Florida Homes Webite.  It may be well worth the cost of the inspection for the savings on your annual insurance.

 

 

This article is authored by Sandy Shores, Brevard County Real Estate

Melbourne Florida Real Estate News

Dealing with the “Hard Stuff” Builds Character

 

My 13 year old daughter has been studying for an upcoming History test.  She is studying the Industrial Revolution.  The information is very interesting and she has been doing beautifully in quickly remembering what she will need for her test.  Her studying has been going quite smoothly over the past several days, at a quick pace. 

Last night we started on a new Section 3, regarding Nationalism and Sectionalism. Our quick paced studying came to a screeching halt.  We we discussing President’s Madison and Monroe and the Era of Good Feelings.  And, we were reading about Henry Clay’s American System and the Monroe Doctrine, as well as the Missouri Compromise.

My daughter suddenly hit a wall and had a complete mental block.  We reviewed the info over and over and she still was not grasping it (or she had taken her brain out of her head). She was not getting it at all.

“What’s up Sam,” I asked her.  “You breezed through the last two sections in no time.”

“It’s history Mom. I just really don’t like History! Besides, this is the hard stuff!”

Hmmm, I thought.  “Well you had no problem with the first 2 sections, at all. You memorized those in no time.  But, then you hit Section 3 and I lost you. You’re not focused. If you made an attempt at it, it wouldn’t be so hard!”

“I’m tired, Mom,” she replied.

Interesting as this is my daughter that gets up 3-4 mornings a week and is in the gym at 5:45 exercising.  Her life is like a whirlwind. She tries to join every single activity she can. I have to remind her to go to bed at night. Otherwise she wouldn’t sleep!  This teenage doesn’t get tired (until she’s studying for History).

It made me wonder.  Was it really the “hard” stuff? Or was it that she just chose to “shut down” and not make the effort to memorize the info?

Is this any different than many other people?  When it’s time to learn or to do the “hard stuff” they don’t have time to make the effort. 

They shut down. 

They get a mental block.

They tell themselves they just can’t do it. 

Is this the “easy” way out?

I have to admit, I remember doing it in school, at times, when I hit a “hard” subject.

We wrapped it up for the night, as we were making no headway at all.  Tonight, it’s time for her to put her brain back in her head and “get focused”.

I have been telling my girls since they were 2 years old, “If you say you can’t do it, then you can’t!”

Everyone of us, in our lives, at one time or another have hit a wall when we reached the “hard stuff”. If we learned to properly deal with it, get focused and trudge through it, we would see that it would make it easier the next time around. Dealing with the “hard stuff” builds character. And it allows you to be proud of your accomplishments.

Not dealing with it at all is a cop out.

 

 

This article is authored by Sandy Shores, Brevard County Real Estate

Melbourne Florida Real Estate News

 

December 2008 Brevard County Florida Statistics

According to the Melbourne Association of REALTORS here in Brevard County Florida Real Estate Statistics for December 2008:

For single family residential units:

There were 509 new listings.

This is a decrease of 5.74% from Dec. 2007 of 540 new listings.

Year to date in 2008 there were 8602 new listings.

Year to date in 2007 there were 11,161 new listings.

This was a 22.93% decrease from 2007 to 2008.

 

There were 262 sold listings.

This is a 16.96% decrease from Dec. 2007 of 224 sold listings.

Year to date in 2008 there were 3139 listings sold.

Year to date in 2007 there were 3115 listings sold.

 

The average sale price in Dec. 2008 was $171,192.

This is a 16.27% decrease from Dec. 2007 of $204,465.

 

Average days on the market for Dec. 2008 were 114 days.

This is a 7.32% decrease from Dec. 2007 of 123 days.

For all properties, including single family residential, condo and townhouse:

There were 756 new listings.

There were 308 sold listings.

Average sales price was $158,774.

Average days on the market were 129

 

Types of financing used:

89 conventional financing

116 cash

63 FHA

 0 Owner financing

 

This article is authored by Sandy Shores, Brevard County Real Estate

Melbourne Florida Real Estate News

West Shore JV Purrfections Dance Team

Today the West Shore Purrfections JV and Varsity Dance Teams competed in the 12th Annual Brevard County Florida Dance Competition held at Melbourne High School.  Teams from across the county competed.

West Shore Junior Varsity picked up first place in the competition in the Junior Varsity Pom Dance Division.

The team’s coach is April Shaw.

The Junior Varsity and Varsity teams were also awarded the Spirit Award!

Congratulations to West Shore Purrfections!

 

This article is authored by Sandy Shores, Brevard County Real Estate

Melbourne Florida Real Estate News

Do you Believe in Miracles?

 

Hopefully, the near tragic events of Flight 1549 will change all of our lives and perceptions. And remind us that life is precious.  We must embrace all that it has to offer.

The crew of flight 1549 miraculously brought the plane down safely into the icy Hudson River, with no fatalites and no life threatening injuries. Our hearts and prayers go out to the woman whose legs were broken.

US Airways Flight 1549 an A320 Airbus took off out of LaGuardia Airport and headed towards Charlotte NC. A minute after takeoff the Captain reported, “a double bird strike.” The airliner flew into a flock of birds.  The plane headed down.

Was it fate that Captain Sullenberger was the pilot of THAT plane on THAT day? News reports indicated that highly experienced, US Airways 29 year Veteran, Captain Chesley B. “Sully” Sullenberger III manuevered that disabled plane over land, around skyscrapers, around marine vessels in 20 degree weather. And, safely landed into the icy waters of the Hudson River. 

All the passengers survived! It was nothing short of a miracle!

The pilot eased the tail down first. Had he miscalculated and brought the nose down first, reports indicate that the plane would likely have been ripped into pieces. Passengers were out of the plane inside of 20 minutes.

Would the outcome have been different had Captain “Sully” not been the navigator of this airliner? 

Is this a sign to all of us?

A bright sign of hope, a sign of faith, a sign of fate?

After the turbulent times our country has been facing over the last couple of years, 2009 provides us with a fresh start, a new outlook, a new government. Could it be a sign of positive things to come?  For every one of us?

Is this a reminder that miracles do happen?   

Is there something bigger at work here, than all of us?

Will the passengers on board flight 1549 treasure their lives more now, than before the day of this near tragic event?  Will they hug their husbands, wives and babies tighter than before? 

  We must embrace all that our lives have to offer, because our time here is so short and precious.

 

 

This article is authored by Sandy Shores, Brevard County Real Estate

Melbourne Florida Real Estate News

The Million Dollar Question Today Still is…

Has the housing market hit rock bottom yet? Consumers ask us this all the time. There are 7 pages of entries on Google’s search for this question, nearly 70 articles on this very subject.

We are getting close to the bottom of the market here in Brevard County Florida. But, often times when we finally do hit rock bottom, we are not completely aware of it, and then prices begin heading right back up again. So we wind up being a day late and a dollar short.

The next most popular question we hear is “Should I buy a home today or wait?”   Google this one and there are over 40 entries on Google’s first 4 pages, nearly 40 articles.

We are currently experiencing a buyers market in Brevard County Florida.  There is a large inventory of competitively priced homes available for sale. Prices are lower than they have been in the last 5 years.

Foreclosures are being aggresively priced, thus keeping the market at realistic levels.  Some of the short sales are also quite aggressive, provided the bank agrees to that advertised price. There are some great deals available today. First time home buyers and savvy investors have jumped in and are scooping them up quickly.

For first time home buyers, now is a great time to buy a home. There are many first time homebuyer programs available today.  Interest rates are at an all time low, providing a buyer more home for their dollar spent. Otherwise, they will need 3.5% for a downpayment on an FHA loan, plus closing costs. If they are opting for a conventional loan they will need 20%, plus closing costs.  A good lender will be able to recommend the best type of loan for an individual buyer’s situation.  And they will provide a Good Faith Estimate of anticipated closing costs.  Another option, often available in this competitive market may be to ask the seller to pay some of the buyer’s closing costs. A good Realtor can advise if this is feasible with the home that a buyer is considering.

If a buyer has a home to sell before they buy, here in Brevard County, proper pricing is key in selling it quickly. Our market has begun picking up pace. More homes are selling each month. So, be sure that house  is in “show” condition before placing it on the market. A reputable Realtor is essential to make this is successful transaction.

Hindsight is 20/20. None of us has a crystal ball.

‘We hear it everyday, I should have bought that house 20 years ago.’

‘I should have sold in 2005.’

There’s no time like the present.

Don’t look back in years to come, and wish you had taken advantage of these great buying opportunities – then, it’s too late!

 

 

This article is authored by Sandy Shores, Brevard County Real Estate

Melbourne Florida Real Estate News

Price it Right When it Goes on the Market, but Check to be Sure

 

When a home goes on the market it must be the most competively priced property in an area. Common sense, right? But, what if it doesn’t sell right away and then other properties in the area go on the market? And it isn’t the most attractively priced property in the area, anymore?

A realtor should be continually regrouping with their seller.  How many showings have there been on the property?  What type of feedback are buyers giving about the property?  Have there been any offers on the property and what do they look like? Is it time for another price reduction?  Is it time to offer incentives to potential buyers? Should the listing comments be rewritten? Is the property being effectively advertised, getting the exposure it needs?

In selling a home, it is important that a realtor follow their marketing plan.  And, they must determine if a bit of refining is necessary to adjust to what is happening in the market.

A realtor should be providing a seller with info about new properties on the market, properties that have gone under contract, and properties sold in their area. If the house hasn’t sold, and the seller is in a position to reduce the price, they may want to seriously consider another price reduction in an attempt to place them back in position of most competitively priced property in the area. And, they must continue to reduce, until the property gets sold!

 

This article is authored by Sandy Shores, Brevard County Real Estate

Melbourne Florida Real Estate News

In Buying a House, Education is Key

 

Yesterday, I went out to meet with new clients that were recently referred to me. They were an absolutely wonderful couple and we hit it off beautifully. They will be a delight to work with. I will be representing them as a buyer’s agent in the purchase of their home.

I have been in touch with them and sent them lists of homes for sale. They narrowed it down to 3 that they wanted to look at.  We decided to pop in to see a couple more that were on our route.

As buyers look at properties, there is a constant tweaking and re tweaking as they see what the current market has to offer.

Education is key in the purchase of a home.

Thorough knowledge of the area is essential.

The more educated a buyer becomes to an area, the real estate market, and what homes are available in their price range, the more easily it is to spot the home that suits their wants, as well as their needs.

And, the more chance they will be happy with their choice after they have settled in.

They’ll know it’s the right house when they see it.

 

This article is authored by Sandy Shores, Brevard County Real Estate

Melbourne Florida Real Estate News

Landlords, Do You Allow Co signers on Your Leases?

 

I got a call yesterday.  The polite young man was interested in a house that I currently have for rent. He indicated that he was looking for a place for himself.  He had previously rented a room from some friends, but really had no credit history.  Based on his current income, he didn’t make enough money to cover the rent and utilities. He explained that he could have someone co sign the lease for him.

Landlords, do you rent to tenants that need a co signer to qualify to rent a property?

Although I always say this…every tenant’s individual situation must be looked at on a case by case basis, before making a decison to rent to them or not. There is no hard, fast rule that covers every situation.

But, typically, I don’t care to rent to tenant’s that require a co signer in order to rent a property.  Especially if that co signer will not be living in the house.  I want the parties involved to all have a vested interest and an incentive to pay the rent.  It helps when the roof is over THEIR head, and the co signer is not living somewhere else. More often than not, I don’t rent to tenants that must have a co signer.

Which leads to my next question…do you rent to tenants where there is not one party living in the house that can afford the complete rent payment on their own?For instance,

I’ve had friends call me that want to move in together and each one has wanted to give me a check for their portion of the rent. I really don’t care to do this.  The ideal scenario is when one party makes enough money and is willing to be responsible for the lease and the entire month’s rent, for the term of the lease. 

I want to collect my rent on one house from one person, in ONE check. 

I’ve seen landlords get into situations on one house, where they are collecting the month’s rent from 3 different people. One person has the rent and the other two don’t. I’ve also seen situations where one friend moves out, and the other party or parties cannot afford the rent any longer (because they couldn’t when they first moved in). I don’t do this either.

So, landlords and property managers I am curious to see what works for you, in your area.

 

This article is authored by Sandy Shores, Brevard County Real Estate

Melbourne Florida Real Estate News

Tenants Will Be Allowed to Stay in Some Foreclosed Properties

 

Fannie Mae has been working on new policies for landlords in foreclosure.  The majority of time, in the past, a tenant was evicted from a property in the event of a foreclosure. They were forced to leave, often forfeiting a security deposit and last month’s rent.  Even if they were current on their rent payments, which was the case, more often than not.  And, they didn’t have any recourse.

But, Fannie Mae said, this week, that they will let some tenants stay, while a house is advertised for sale. Fannie Mae will sign a new lease with about 4000 tenants. Which tenants are allowed to stay? Does this mean that the sale is subject to the lease?  Or must the tenant move upon the sale of the property?

There seems to be some confusion with the new policy, as some consumer advocate groups have indicated that legislation was previously passed, through the bailouts, allowing tenants to stay in their homes in the case of an eviction. But, not everyone had complied with the new policy.

Fannie and Freddie is currently working on loan modifications with borrowers in trouble.  They have stopped  foreclosures until January end.

This article is authored by Sandy Shores, Melbourne FL Realtor, Brevard County Real Estate