The Sunshine State is Still a Favorite for International Buyers

We are still hearing that International Buyers favor Florida’s location, climate and low prices to other locales in the United States.

International Buyers are actively purchasing Florida real estate. And others are keeping an eye on the market to determine when they feel the time is right to jump in.  Many buyers are purchasing their second/vacation/investment homes for cash.  Some are staying in the property for several months, and then renting their furnished units for the period of time they go back home.

The National Association of Realtors indicates that 25 percent of these international buyers are Canadian, 21 percent are Europeans, and just over 20 percent are British.

This article is authored by

Sandy Shores REALTOR®, Melbourne/Palm Bay FL Real Estate

Brevard County Real Estate & Investing

I also buy, sell, rent, own and manage Investment Property.

Forbes Magazine Says Florida has Two of the Top 10 Small Towns

 

Forbes magazine has come out with their list of the top 10 small tpwns to live in the US.  These towns have less than 100.000 residents. The survey included towns that are favorable to running a business, that have educated employees, favorable salary levels, beautiful landmarks, and great cultural opportunities as well as favorable restaurants.

The list is as follows:

1.  Boulder, Colorado

2.  Doral, Florida

3.  Fairfax, Virginia

4.  Mountain View, California

5.  Cupertino, California

6.  Newton, Massachusetts

7.  Columbia, Maryland

8.  Rockville, Maryland

9   Coral Gables, Florida

10. Foster City, California

It’s interesting that 3 states had more than one town included in the list.

This article is authored by

Sandy Shores Realtor, Melbourne FL Real Estate

Brevard County Real Estate & Investing

Buyer Sleepovers, Good Idea or Not?

A buyer sleepover, before you buy a home?  Well the idea is beginning to crop up all over the country…

Buyer sleepover good idea or not

Some sellers are offering a buyer the opportunity of sleeping over, in their home, prior to a buyer purchasing the home.  This gives the buyer an opportunity to get a “feel” for the home, the area, and the ambience of the property.

But, is this a good idea? 

Is this putting the seller’s in a precarious position?

Or, you might say, what’s the big deal? 

Isn’t it just like taking a test drive in a car before you buy it?

It’s allowing the buyer to experience the positive aspects of the property, isn’t it?  But, how do you really do that when you’re sleeping? Shouldn’t it be done during the day, or over a weekend?

Buyer sleepovers

On the other hand, it’s also allowing the buyer to find out the negatives of the property before they purchase it, too…

Is it just like early occupancy?  The buyer takes possession of the property prior to the closing.  But, they move into the home, along with their possessions, before the closing.  Personally, I do not care for early occupancy arrangements.  Often times they can get quite sticky, if the buyer is unable to close or something turns up at the last minute, and the buyer chooses not to close. Then, the seller has to get the “buyer” back out of their house.

On the other hand is a buyer sleepover any different than a lease option?  The owner agrees to sell the home at a future date for a specified amount of money.  The tenant/future buyer lives in the house for an agreed upon period of time, often times a year and pays the owner rent.  Often, a portion of the money is applied as option money towards the purchase. At the end of the specified time period the option to buy is exercised, and the parties proceed to closing.

So, what do you think about buyer sleepovers, are they a good idea or not?

Visit my website at www.SandyShoresMelbourne.com

FCAT Scores – Brevard County Florida Tops the Lists Again!

Brevard County Florida Schools Ranked at the Top on FCAT scores, again!

Scores will be officially available to students on June 12, 2008 at www.fcatparentnetwork.com

In Florida students in grades 3 through 10 are required to take the State Standardized FCAT, the Florida Comprehensive Assessment Test, in math and reading. A level three on the FCAT means that the student is working at grade level. A level 1 or 2 means that the students are encouraged to attend 4 weeks of summer school, which start today.

In Florida, in 6th grade, 6 out of 10 of the top scoring classes were from right here in Brevard County.

This is the 8th year in a row that Brevard 6th graders ranked at the top of the state of Florida in FCAT scores.

Brevard was 5th of 67 districts in all grades for students passing the reading portion of the test.

Brevard was 8th of 67 districts in all grades for students passing the math portion of the test.

In six Brevard Public Schools, 100% of students scored a level 3 or higher in either math or reading. Those schools included Freedom 7 Elementary, Stevenson Elementary, West Melbourne Elementary, Royal Palm Charter School and West Shore Jr/Sr High.

For students that scored a level 1 or 2 on the FCAT, several factors are taken into consideration as to whether the student will be retained in their current grade. Their grades are taken into consideration, including their exam grades and their daily performance. Not all level 1 and 2 students are required to attend summer school.

10 Ways to Prepare for Homeownership

1. Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.

2. Develop your home wish list. Then, prioritize the features on your list.

3. Select where you want to live. Compile a list of three or four neighborhoods you’d like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety.

4. Start saving. Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 percent of the purchase price saved as a down payment. Also, don’t forget to factor in closing costs. Closing costs — including taxes, attorney’s fee, and transfer fees — average between 2 and 7 percent of the home price.

5. Get you credit in order. Obtain a copy of your credit report to make sure it is accurate and to correct any errors immediately. A credit report provides a history of your credit, bad debts, and any late payments.

6. Determine your mortgage qualifications. How large of mortgage do you qualify for? Also, explore different loan options — such as 30-year or 15-year fixed mortgages or ARMs — and decide what’s best for you.

7. Get preapproved. Organize all the documentation a lender will need to preapprove you for a loan. You might need W-2 forms, copies of at least one pay stub, account numbers, and copies of two to four months of bank or credit union statements.

8. Weigh other sources of help with a down payment. Do you qualify for any special mortgage or down payment assistance programs? Check with your state and local government on down payment assistance programs for first-time buyers. Or, if you have an IRA account, you can use the money you’ve saved to buy your fist home without paying a penalty for early withdrawal.

9. Calculate the costs of homeownership. This should include property taxes, insurance, maintenance and utilities, and association fees, if applicable.

10. Contact a REALTOR®. Find an experienced REALTOR® who can help guide you through the process.

Florida Lead the Nation in Foreign Purchases

Florida is a great place for foreigners to invest their money, due to the favorable exchange rate between the pound and the dollar. We are seeing many international buyers purchasing here in the Sunshine State. In 2007, Florida lead the nation in foreign purchases at 26%.

Florida is easily accessible by air and by sea. There are 31 major airports and 14 deep water seaports here. So, it makes traveling internationally quite convenient.

Visit my website at www.SandyShoresMelbourne.com