Tag: #YourTrustedRealtor

Housing bubble or Real Estate boom?

Are we in a housing bubble? Is the market going to crash again? Should I wait and buy later?

The simple answer to those questions is NO, there is no housing bubble right now, the market will not crash and probably waiting to buy a house will only make it more expensive or even unreachable for some individuals.

The main drivers of the current real estate boom are 3:

  • Record low interest rates.- This allows buyers that qualify for a mortgage to expand their purchasing power and afford bigger houses or better areas.
  • Shortage of homes.- Offer and demand play an important role in the market and having a shortage of inventory and a high demand has only one result, rise on prices.
  • Covid19.- The pandemic has pushed adults to work from home and kids to take their lessons at home, many families have decided to move to bigger houses, relocate to other states to save money or simply try to leave the city for the suburbs or even rural areas.

The good news is that interest rates eventually will increase pulling down the demand and making the market to correct, however it doesn’t mean house prices are going to drop but it is expected they will stabilize.

Are you looking to buy or sell real estate? Give me a call, will be happy to help you.

Clarisa Moody – 813 446 2003

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

www.ClarisaMoodyRealtor.com

Real Estate dictionary

This is a list of some words used in Real Estate and its meaning that you should know before you engage in selling or buying a house or land:

AAgent.- Is a licensed professional who can assist you in the purchase, sale or rent of a property, vacant land or investment property. Realtors are agents, federally registered members of the National Association of Realtors and subscribes to its strict Code of Ethics. Appraisal.- A written opinion of a property’s market value done by a licensed appraiser
CClosing.- The process of executing legally binding documents, final signature of documents such as title, deed, mortgages, note or others associated with the property’s title transfer Closing costs.- Expenses for services for the sale or purchase of a property, such as sale commissions, loan fees, title fees, appraisal, survey, etc.
EEarnest Money Deposit (EMD).- Advance payment of part of the purchase price for a property Escrow.- When a third party (usually a title company or real estate attorney) handles legal documents and funds on behalf of a seller and buyer Estate.- A person’s possessions, the extent of a person’s interest in real property
HHomeowners insurance.- Insurance protecting real property or possessions in the home, also provides liability coverage against accidents in the home or on the property.
LLien.- A hold, claim or change allowed a creditor upon the land of a debtor, like a mortgage lien. Loan estimate.- A document of 3 pages sent by the lender with an estimate of the cost of the transaction.
MMortgage.- Instrument used to encumber land as security for a debt
NNote.- Instrument evidence of the debt, a note is usually secured by a security instrument, such as mortgage or deed of trust
PPoints.- A one-time special fee or extra charge paid to a lender in order to secure a loan or a better rate, it is expressed as a percentage of face amount of mortgage (Ex. 2 points = 2%) Prorate.- To allocate between seller and buyer their proportionate share of an obligation paid or due, such as property taxes
RReal property.- Land, together with fixtures, improvements and appurtenances (A mobile home on a rented lot is considered personal property, while a manufactured home anchored down and conveying on the sale with land can be considered real property)
TTitle.- Ownership of real property and stands against the right of anyone else to claim the property, evidence of ownership Title insurance.- Agreement to indemnify the insured against loss product of a covered defect in title of a particular parcel or property Title search.- Examination of public records, laws and court decisions regarding the ownership of the property. It can include  liens, judgments, open mortgages and other title issues
WWalk-through.- or pre-settlement inspection is usually scheduled before closing to make sure the property is in the agreed-upon condition.
ZZoning.- The right of a municipality to regulate and determine the compatible character and use of the property
Clarisa Moody – Realtor

If you would like to sell or buy a property in Florida, give me a call at 813 446 2003

Clarisa Moody

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

www.ClarisaMoodyRealtor.com

The importance of a home inspection

Without a doubt, purchasing a house is one of the most important investments we do in our lives, therefore we need to make our due diligence in order to know the condition of the house we are buying.

As a Realtor, my job is to protect my client’s interest and I strongly suggest a home inspection, even on cash deals, so the buyer can know exactly the condition of the house they are looking to buy. The inspection is performed by a licensed inspector; it can take 2 to 3 hours and have an average cost of $400. The inspector will check the main systems of the house, such as AC / Heater, plumbing, electricity, plus the roof and attic and crawl space (if there are available) and write a report on the condition of the house so the buyer and this document can be used to require any repairs to the seller, request for concessions toward repairs or simply for the peace of mind of the buyer that the house has no major problem.

Note: If the house will be financed, a wind mitigation report and 4 point inspection report are suggested as well, that will provide the lender more information about the condition of the house and can also provide you a discount on the home insurance. If the house was built before 1978, there is a lead based paint test that some home inspectors offer as well in the package

Are you looking to buy a house and need assistance? Give me a call, will be happy to guide you.

Clarisa Moody

813 446 2003

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

www.ClarisaMoodyRealtor.com

How much do I need to buy a house?

The usual expenses associated with the purchase of a house are down payment, closing costs and other expenses.

  • The down payment can be anywhere from 3% to 10% for a primary residence, it will depend on the type of loan you can qualify for, fully documented loans, such as a conventional loan and a FHA loan (Government backed loan) have a down payment of 3% and 3.5% respectively, of the purchase price.

Example: If the house price is $200,000 and you got approved for a conventional loan, the down payment would be $6,000. If you have a FHA loan approved for the same $200,000 house, the down payment would be $7,000

  • Closing costs can be between 2% and 5% of the home value, it will include the title company fees, transfer taxes, doc stamps and prorated property taxes.  It is possible to get some concessions from the seller towards your closing costs, this is something your Realtor will advise, handle and negotiate on your behalf.
  • Other expenses associated with the purchase of a house are the home inspection ($300 – $400), well and septic inspection if needed ($200 to $400), Engineer structural inspection ($250 – $300), survey (depending on the size of the lot, starts at $300), appraisal ($450 to $650, the lender requests it)

As you can add up, it is necessary to have a good chunk of money to buy a house; however there are programs available to help you with the down payment and closing costs for first time home buyers as well as loans with 0% down payment as the USDA or VA. It is important for you to work with a Realtor who can provide you clear advice and resources so you can accomplish your dream of home ownership. Give me a call, I will be happy to help you.

Clarisa Moody

813 446 2003

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

www.ClarisaMoodyRealtor.com

Real Estate investing in Central Florida

Did you know that you can buy a property in the United States without being a citizen or permanent resident? You just need a valid passport and a Visa. Did you also know that you can actually get a loan from an American mortgage company to buy real estate in the US?

Investing in real estate in Central Florida is highly profitable as regular rent prices are going up and short term rentals are very popular in the area (such as Airbnb and Vrbo).

Take advantage of this amazing opportunity and buy an investment property that will be completely yours (no timeshare), so you can enjoy of the theme parks, the world ranked beaches, natural preserves, springs and parks, as well as a very dynamic night life. I will assist you with the purchase, I can recommend you a licensed Mortgage Loan Officer to assist you with the loan (if needed) and also put you in contact with a company that will take care of the reservations for you in order to maximize your return on your investment.

Give me a call, will be happy to assist you, 813 446 2003

Clarisa Moody

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

www.ClarisaMoodyRealtor.com

A dream with a plan becomes a goal

I am glad you are here and ready to tackle the planning part of the house buying process and I am here to help you. Remember, success is when preparation and opportunity meets, no one wakes up one day, decides to buy a house and has it all figured it out by the weekend, this is not how the house buying process works, that is why it is hard to become a home owner but here are my 5 most important tips for you on the road of home ownership.

  1. Know where you stand financially, have a budget set-up, an emergency fund and savings for the down payment. If you have credit score, it needs to be preferably over 600 to qualify for a mortgage
  2. Make your research; find a good knowledgeable and trustworthy Realtor who can assist you. I will love to help you find your dream home and I can also refer you very good licensed Mortgage Loan officers in the area
  3. Have all your paperwork ready, digitalized and ready to be sent as requested (by the MLO / lender / Bank). Having a pre-approval letter is half of the battle.
  4. Define your priorities with your family or significant other regarding the budget you feel comfortable with, as well as the area of search and the must haves on the new house
  5. Make questions to your Realtor and MLO, this will clear any doubt you might have and make you feel more comfortable during the process. DO NOT give money to any Realtor or Agent with the promise that they will find you a house, our services for home buyers is FREE (the seller pays our commission), so be aware.

Contact me if you have any question related to the house buying process or any other real estate question, 813 446 2003

Clarisa Moody

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

www.ClarisaMoodyRealtor.com

Rent with the option to buy

If you are working on your credit score, trying to clean your credit report or simply you are trying to save more money for the down payment, the program “Rent with the option to buy” can be what you were looking for. The requirements are as follow:

  • 500+ credit score
  • $4000+ household income
  • 12 months of rent on time
  • $5000+ on savings (or gift, or 401K)

And you can apply in the following link: https://www.dreamamerica.com/home/applyNow/Clarisa-Moody

Once you get the green light from Dream America, we are ready to go house hunting! You can pick the house you want within your budget and Dream America buys it for you and rent it back. The lease is for 12 months and you can buy it anytime you qualify for a mortgage (with no penalty) and 10% of your rent goes towards your down payment. It is a win – win.

Let me know if you have any questions about the program, will be happy to assist you.

Clarisa Moody – 813 446 2003

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

www.ClarisaMoodyRealtor.com

Buy it, fix it and live in it

The market is HOT, it is a seller’s market, demand is higher than the offer, inventory is low, prices are rising, etc. These are some of the reasons why you, and many other home buyers, have difficulties finding the right house; basically your competition is huge but you can sweep your competition off with a renovation loan, buying a house regardless its condition.

  • GO FOR the ugly house in your desired neighbourhood,
  • GO FOR the house within your school zone that has that hideous Pepto-Bismol bathroom,
  • GO FOR that house with the pool but unfortunately has only 2 bedrooms,
  • GO FOR the house with the 1950s avocado appliances kitchen.

With the renovation loan, you can make that house your DREAM HOME; you just need to work with the right professionals.  The down payment is low, interest rates are low, renovations are included in your loan and a licensed bonded and insured General Contractor will do the renovation. It’s like buying a FLIP but instead of making the flipper gain all your equity, you are getting it back.

Ready to work with a team of highly prepared professionals to get your future dream home? Give me a call, I will be happy to guide you in the right direction.

Clarisa Moody 813 446 2003

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

www.ClarisaMoodyRealtor.com

Homesnap, the app for serious homebuyers

I am sure you have visited many sites with the hope to find accurate, reliable and most importantly up-to-date listings in your search area. We bought our home almost 3 years ago and we used Homesnap to find the one, here are some reasons why you should also use Homesnap to find your new home.

  • It is FREE and easy to use, download it on your app store and start the search
  • It has GPS capabilities which allow to search for houses in specific areas you are driving by
  • The information updates directly from the MLS, it is integrated with the source of the info
  • The filters an maps allow a better experience for the house buyer
  • You can interact directly with me through the app which expedite the communication and information exchange

If you want to step-up your home buyers game, here is an invitation to download the app and start interact with me from day 1, let’s find your NEW HOME!  www.homesnap.com/Clarisa-Moody

Clarisa Moody

If you like this blog entry, make sure to subscribe to my Newsletter and you will receive interesting information about Real Estate, finances and home management.

www.ClarisaMoodyRealtor.com

Homesnap, la aplicación para compradores serios

Estoy segura que ha visitado muchas páginas web con la esperanza de encontrar información real, en la que se puede confiar y más importante, que sea actualizada. Mi esposo y yo compramos nuestra casa hace casi 3 años y utilizamos Homesnap, aquí hay algunas razones por las cuales usted también debería utilizar Homesnap.

  • Es gratis y fácil de usar, baje la aplicación en su celular y comience la búsqueda
  • Trabaja con el GPS, lo que le permite centrar la búsqueda en áreas específicas cuando maneje
  • La información se actualiza directamente con información del MLS, está integrado a la base de datos que los Realtors utilizamos
  • Los filtros y mapas brindan una mejor experiencia al usuario
  • Usted puede interactuar directamente conmigo a través de la app, haciendo la comunicación más rápida y eficiente

Si quiere mejorar sus búsquedas de casas, aquí esta una invitación para que baje la aplicación y comience la búsqueda hoy mismo, yo le ayudare a encontrar la casa que esta buscando, www.homesnap.com/Clarisa-Moody

Clarisa Moody

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www.ClarisaMoodyRealtor.com