Just breathe… - Just breathe... As an almost lifelong Floridian (to my friends I’m still a Yankee), it’s hard to describe the emotions of the past month. So much has happened in just the last few weeks. For some, back to “normal” came quickly. For so many others, things may never be the same again. Ian was more than just a hurricane. It was a life-changer. As soon as the spaghetti models surfaced, the memes began. New Floridians were juxtaposed against long-time residents in a series of seemingly amusing images. New Floridians were depicted as hoarders of water and toilet paper while long-timers were getting pedicures. New Floridians were buying up plywood while long-timers were grilling up dinner. The contrast was funny…until it wasn’t. Before long it became quite clear this was no longer a fire drill. Soon conversations shifted from casually discussing if/when we’d put up shutters to “I’ll pay you whatever you want to put up sheets of plywood…” Should we stay, should we go? True to form, our agents banded together to advise and aid our clients, especially those “Hurricane First-Timers.” We removed for-sale signs from yards as a preventative measure and shared tips for mobile home dwellers and residents…
And, in the Blink of an Eye… - And, in the Blink of an Eye… In the past year, we’ve experienced an almost unprecedented real estate market. It’s been a real scorcher! If you were a seller, you likely had a gold mine on your hands with more offers than you could count, each one better than the previous with no appraisal contingencies, no inspections, cash, and well over your asking price. If you were a buyer, finding a house probably felt more like a street fight than a treasure hunt. The offers made no sense, the appraisals were all over the place, and you had to forgo inspections and find extra cash---just to remain in the game! This time last year, a reported 67% of all home offers faced a bidding war. You probably experienced more than your share of loss. Now, the sizzle of our once steaming-hot market is starting to cool down. It’s beginning to normalize and “shift” to something a little more recognizable. So, what exactly is the “shift?” For the first time in many months, the MLS inventory of available homes is growing. This provides buyers with more choice, and an opportunity to browse as homes stay on the market for longer periods…
Walking the Walk - Walking the Walk A healthy, wealthy, community is only possible with the support of those who live there. As an “almost” native and a long time local small business owner, my mantra has always been, “shop local and support local businesses.” Big box stores, national brands, and online retail giants have been reaping financial rewards for many years. And, because of their sheer size, they can often navigate the ups-and-downs of economic shifts and population changes without missing a beat. That’s why, now more than ever, we need to focus on our local business owners. It may be the single most important thing we can do to keep our local economy strong and thriving for decades to come. Those of you who have been following the Leslie Wells Realty journey know that we didn’t just move to a new location, we PHYSICALLY moved our building and business a few miles down the road. The word “journey” is especially fitting given what an arduous process this was. But not all journeys are difficult. Sometimes they offer the chance for a reset and provide new opportunities for future success. Now that the move is in our rearview mirror, I want to thank…
Does Anyone Know…? - Does Anyone Know…? Will there be an Outback? A Lowes? A Starbucks? A Chick-fil-a? Is that a new development? Could they be building the new Rays Stadium in that open lot? If you want to know, just consult Facebook! Ok...maybe not. But it sure is fun to check-in on some of the Parrish-based social media sites. There are days when the rumor mill is out in full force, and it is always good for comic relief! Especially when there’s speculation on what is going to be built and where. Sometimes they get it right and sometimes the guesses are hilariously wrong. But, no matter what the result, there’s always a peppering of concern. Maybe we’re becoming too populated? The nostalgia is real. Though we all crave the conveniences of modern life, it’s very easy to romanticize the good ole days with lots of green spaces and cows. But it wasn’t always what it seemed. I remember the early days of FoxBrook (nearly two decades ago now), our sales disclosure packets had to include a disclaimer advising homeowners that living next door to an agricultural property could come with certain sights, smells, fertilizers and more. Often, the thought of backyard barbecues…
Raise a Glass to New Beginnings - Raise a Glass to New Beginnings! Whew! We made it through! I can still recall sitting at my desk as we closed out 2020 and thinking, “I’m so glad we can put this year behind us!” I grieved for those who had lost friends and loved ones. I struggled to find meaning in the loss of businesses and jobs. It was a heck of a year. But sadly, just like a boomerang, back it came, giving us another round of loss and disappointment. Now, with 2022 already off to a rocky start, I remain hopeful but extra cautious when it comes to predictions! Just like its predecessor, 2022 will certainly hold many surprises for the real estate market. It seems likely the demand for single-family homes will continue to outpace supply. With Covid-19 still on everyone’s mind, some potential sellers are opting to work-from-home and avoid the big moves while others see an opportunity to sell quickly and reap a healthy profit. Millennials (aged 26-35), who now make up the largest US population, are embracing first-time home ownership in massive numbers. This means the market will remain competitive for the foreseeable future. Though builders are doing their best to keep…
How to Find the Best Real Estate Agent for You - How to Find the Best Real Estate Agent for You Now that you’ve decided to buy or sell a house, how do you find a reputable real estate agent to guide you? The best place to begin is with personal referrals from family and friends. With whom have they worked and had a good experience? Check online reviews and see who is highly recommended in your area. Collect a few names and set up interviews to meet with them. First, make sure you feel comfortable talking with the agent. Is he or she able to answer questions in a way that makes sense? Ask the potential agent to explain either the home buying process or their marketing strategy for selling your home. Ask for referrals if you didn’t see any online. Here are a few other key questions to ask: • Do you work full-time or part-time? A full-time agent is more likely to be available and aware in a hot market like Manatee County. • How long have you been an agent? How long have you worked in this area? How many current listings do you have in Parrish, Ellenton, Bradenton, Palmetto, or St. Pete? • What are…
What Are Credit Scores and Why Are They Important? - What Are Credit Scores and Why Are They Important? You’re ready to look for a dreamy new home in Manatee County. What’s your first step? Find out your credit score. Mortgage lenders and other financial institutions use credit scores to determine how much of a risk they’re taking in loaning money to you. When you have a high credit score, lenders view you as less of a risk and are able to offer home loans with better terms. That’s why understanding your credit score and improving it will not only allow you to secure a mortgage loan, it will save you money over time. Your credit score is based upon the following: 1. How consistently you make payments on time. 2. How much credit you’ve used versus how much credit you have available. 3. How long you’ve had a credit history. (The longer, the better.) 4. What types of credit you have, such as car loans or credit cards. 5. How many new credit accounts you’ve recently opened. Scores are between 300-850. The higher your score, the better you look to a potential lender. If your credit score is too low, you may not even qualify for many mortgage…
Tips for Buying a Home in a Seller’s Market - Tips for Buying a Home in a Seller’s Market In a seller’s market, home inventory is low, prices are up, and homes sell quickly. Competition can be intense for buyers. So what can you, as a buyer, do to gain an edge? The first thing you can do in a seller’s market is to start house hunting as early as possible—and then be patient but ready to act quickly. It may take more time to find or get the home you want. Clear your schedule so you can tour a new listing as soon as possible. Don’t wait for the weekend. It’s essential that you get preapproved from a reputable lender to show the seller that you’re ready and able to buy. Show proof that you have funds for a down payment and offer it (or more) up front as an earnest money deposit. When you find the home you love, be prepared to make your best offer first. Since bidding wars are a strong possibility in a seller’s market, it’s wise to look at homes that are a bit under your maximum budget. This gives you room to negotiate or bid higher than the asking price, if needed.…
Why You Need to Work with a Real Estate Professional - Why You Need to Work with a Real Estate Professional When it came to fixing vehicles, “Don” knew what he was doing. It was never his profession, but he’d worked on his own machines for fifty years. Then, after a simple oil change on his newest van, something went very wrong. A slight error with an air filter cost him an entire engine. Had he gone to a professional mechanic, he’d had to pay for the oil change. But he also would have saved thousands of dollars in the long run! The same is true with buying or selling a home. In an attempt to “save” money, many home buyers and sellers discover—too late—that doing things on their own was a costly mistake. Real estate professionals are experienced negotiators with a deep knowledge of homes, rules, and networks. Their expertise is priceless. They are under “fiduciary” duty, which means they are legally responsible to put their clients’ best interests first. There are other reasons why it’s essential to work with a real estate professional in Florida. Houses listed as “For Sale by Owner” typically sell for less money. Yet they require a lot more work, since you have to…
Tips for First-Time Home Buyers - Tips for First-Time Home Buyers It’s exciting to think about buying your first home! It can be a great adventure. It can also be confusing and frustrating when you don’t know what to do. Here are some important tips for making your first home-buying experience as smooth as possible. 1. Get pre-approved for a mortgage loan before you start house shopping. Remember that prequalified and pre-approved are not the same thing. You may find out that you need to work on your credit score before house shopping. Or that you haven’t been at a current job long enough. It’s better to find out if you’re approved–and for how much—before you look at houses and fall in love with one that’s outside your budget. 2. Talk to at least three lenders and compare closing costs and interest rates. Ask about Florida grants and government programs such as FHA loans, VA loans, and USDA loans, which could help you buy a home with minimal down payment and good rates. 3. Check and double-check your monthly budget. Just because you’re approved for a certain loan amount, be realistic about how much you can actually afford. Remember to factor in property taxes and…