homebuyer advice: Beware of Polybutylene Pipes in Older Homes
- 03/30/23 05:14 AM
Think twice about purchasing a home with Polybutylene (PB) pipes. Polybutylene (PB) pipes were widely used in Florida residential construction from 1978 to 1995. Billed as a less expensive alternative to traditional copper pipes, up to 10 million homes across the United States were outfitted with PB piping during this period. Polybutylene pipes tend to degrade over time, creating small fractures and pinhole leaks. Any single fracture could eventually result in sudden failure, which generally ends up causing extensive damage to the home. A class-action lawsuit in 1995 resulted in nearly $1 billion being awarded to affected homeowners but the class … (7 comments)
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homebuyer advice: Benefits of Home Automation
- 03/20/23 06:29 AM
Home automation is increasingly popular as technology improves and devices become more affordable. Smart home automation works by connecting various devices in your home to a central hub or directly to a network. These devices can then be controlled remotely through a smartphone app, voice assistant or web interface. Smart home components like security or climate control can be integrated with other smart devices, like your home entertainment system. This allows you to create a comprehensive and integrated smart home system that can automate many different tasks. There are tons of reasons you may want to invest in home automation, but they generally … (5 comments)
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homebuyer advice: Planning for 2023 As Mortgage Rates Rise
- 12/01/22 06:52 AM
If you’ve been house-hunting in recent years, you’ve really been through it. Maybe you were waiting out the market, hoping the rocketing prices would start to flatten. Now, of course, they have — but between 2021 and 2022, mortgage rates have more than doubled, from less than 3 percent to more than 7 percent. If you are renting and trying to save for a down-payment, the cost of your rental has likely increased as well. Sellers who are sitting on low mortgage rates are not listing their homes for sale and supply shortages, cost of land, and cost of lending, along with higher labor … (4 comments)
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homebuyer advice: Pit Falls of Post-Closing Occupancy Agreements
- 06/30/22 07:30 AM
More sellers want to stay in their home after closing, sometimes for weeks or months. In many cases, they want to do it for a fraction of the fair market rent or even for free. Agreeing to their request gives some buyers an edge over the competition in a bidding war, but it comes with risks.
The Post-Closing Occupancy Agreement allows the Seller to remain in the property for a designated period after the Buyer takes ownership of the property. As easy as a post- occupancy agreement sounds, there are serious implications arising out of a Seller requesting to remain in occupancy … (3 comments)
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homebuyer advice: Apps To Facilitate Your Move
- 02/15/22 06:51 AM
Buying a home and moving is stressful on many levels. Here are some Apps to make the moving an easier endeavor. Like other productivity apps that can be downloaded on your smartphone, move-planning apps will help you keep everything organized.
Read full article on Optima Properties' Blog
… (3 comments)
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homebuyer advice: Questions to Ask Before Buying a Condo in South Florida
- 07/06/21 05:10 AM
The Florida Realtors Association asked construction specialists and attorneys about the questions we should all be asking about the condition of our living spaces and what kinds of updates they need as they deteriorate from heat, humidity, hurricanes and climate change.
Read Full Article on Optima Properties' Blog
… (3 comments)
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homebuyer advice: How to Win A Bidding War
- 05/21/21 06:59 AM
A bidding war is when at least two prospective buyers have made legitimate offers for a home that are similar and the Seller wants to select the best offer and terms for themselves. Bidding wars are common—in most of 2020, over half of home offers presented have faced competitive bids, according to Redfin’s study. Although historically low interest rates have sparked buying activity recently, some neighborhoods are always sought-after and attract multiple offers whenever a home comes up for sale. Exclusive Buyer Agents are experts in winning bidding wars and getting credits during the due diligence period.
Expect to be in a bidding … (2 comments)
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homebuyer advice: What We Need From A Home During COVID-19
- 11/06/20 03:17 AM
It is safe to assume that COVID-19 or other lethal viruses are going to be a part of our lives for years to come. Homes, businesses, schools, travel entertainment and more will all have to adapt for keep people safe and productive. The one area that we all can control is where we live. OUr homes are increasingly becoming our refuge, work place, school, and sources of entertainment. Our needs have changed as well as the stresses in our lives and our homes should be an area that provides us with restorative releases from the stresses that living with a pandemic … (2 comments)
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homebuyer advice: Tips for Condo Buyers
- 02/07/20 02:59 AM
Buying a condo, short for condominium, can be a great way to dive into home ownership without worrying about much of the upkeep that comes with single-family homes and townhouses. Condo dwellers can also typically take advantage of shared amenities, plus having professional management to take care of building maintenance. However, condos aren’t for everyone so it’s best to figure out what your lifestyle and budget needs are first. Whether you are purchasing a vacation condo or making South Florida your permanent home, there are a few tips and tricks you should use to help make the condo buying decision easy and stress-free. Here … (3 comments)
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homebuyer advice: Top 10 Reasons to Use an Exclusive Buyers Agent
- 12/29/19 10:52 AM
Why Use an Exclusive Buyer's Agent When Purchasing a House?Buying a house is one of the most significant undertakings you'll make in your entire life. It's not simply about finding the right home for you and your family; more than anything, buying a house is about making the right financial investment on a long-term basis. Before you even put down your earnest money deposit, an exceptional buyer's agent will have been doing several things for you, including searching for the right property and starting the due diligence process when you do. There are a plethora of reasons you should turn to a buyer's … (3 comments)
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homebuyer advice: Why Is Not Covered Under Standard Homeowners Insurance?
- 10/17/19 08:39 AM
Until it happens, most homeowners think of disasters as something that won’t happen to them. Disasters can be as minor as a tree branch falling and breaking a few windows, or as concentrated as a pinhole roof leak slowly dripping water into a residence—causing mold or other ripple effects. Sadly, too many people who experience disaster on a large or small scale may find the trauma continues when it’s time to file an insurance claim. You need to be knowledgeable about what your Homeowner’s Insurance does and does not cover. These common held assumptions about insurance are items that are NOT covered and … (1 comments)
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homebuyer advice: Online Home Decorating Resources
- 06/25/19 08:45 AM
Online interior design services are transforming the way we access interior design help. It’s the magic combination of professional design guidance, affordable prices, plus an easy and quick process that is attractive to people everywhere. Whether you're deciding what color to paint your living room, envisioning a different furniture layout need design assistance with a room or an entire home, these online resources can get you started.
Very full article at Optima Properties' Blog
… (1 comments)
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homebuyer advice: Florida Homestead Exemption Reminder
- 01/03/16 03:31 AM
It's not too early to file for a property tax exemption for next year; filing nowwill allow Florida property owners to beat the rush that normally occurs early in the yearas people try to beat the March 1 deadline.
Any Florida property owner with legal title to a home and who uses it as his or her permanent, primary residence by Jan. 1 is eligible for this exemption. Homeownersmaking their first claim at this time should contact their respective county propertyappraiser's office to find out how best to file for the exemption -- many officesoffer applications online or will mail applications to residents. … (1 comments)
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homebuyer advice: Tips For Moving With Pets
- 09/05/15 10:43 PM
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So, you’re moving to a new home. Congratulations! Whether you’re traveling across town or across the country, here are some tips for making moving day as easy and stress-free as possible for the entire family, including your beloved pets.
To read the full article visit, Optima Properties' Blog
… (0 comments)
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homebuyer advice: TRID: What it means for you as a Homebuyer
- 08/29/15 09:44 PM
On November 13, 2013, the Consumer Financial Protection Bureau issued a rule regarding changes to current early disclosure and closing documentation used on mortgage loan transactions. Anyone in the real estate or mortgage industry should understand that new regulations called TRID (TILA/RESPA Integrated Disclosures) and how they will have an impact on the timing and notifications required throughout the closing process.
But what does TRID mean for you as a homebuyer? If you have previously bought or sold a home, you’ll see two main changes: forms and closing deadlines.
To read the full article, please visit Optima Properties' Blog
… (1 comments)
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homebuyer advice: Advice for Millennial Homebuyers
- 08/12/15 12:10 AM
If you are in your 20s and 30s and have ever even considered buying a home, you are positioned to take advantage of record low interest rates. Even if you have just graduated with student loan debt, have not saved the traditional 20% down payment, and worry that there are no homes available to purchase for people in your situation, you may be wrong.
Today mortgage brokers, bankers and direct lenders are lending more than ever. Loan options such as those from the FHA (Federal Housing Authority) enable qualifying first-time buyers to purchase with as little as 5 percent down. If you … (1 comments)
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homebuyer advice: 3 Ways To Deduct Mortgage Interest
- 05/22/15 11:20 PM
Your home is more than an investment and a place to live—it also can be a valuable source of tax deductions. For many homeowners, one of the biggest itemized deductions on Form 1040 is the
one for qualified residence interest (commonly called the “mortgage interest deduction”). In the usual situation, you can write off all, or almost all, of the mortgage interest you’ve paid for the year.
To read the full article, visit Optima Properties's Blog, 3 Ways to Deduct Mortgage Interest
… (1 comments)
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homebuyer advice: Homebuying Tips and Advice
- 05/07/15 06:17 PM
Buying a house is a difficult process — there are large sums of money involved, the transaction costs and hassle of moving mean that you can’t just buy another house if you don’t like the one you end up with. The best you can do is to educate yourself in all aspects of the house hunt, keep a clear head, and buy a house that best fits your criteria.
There are plenty of articles full of useful tips for first-time homebuyers. I am not going to repeat them. Instead, I will list the lessons I have learned over the past 30 … (1 comments)
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homebuyer advice: New Water Heater Regulations Will Cost You Money
- 03/19/15 08:22 PM
If you’ve been thinking about replacing your water heater soon, you will want to read up on how the new water heater efficiency standards, effective April 16, 2015, will affect your options.
The U.S. Department of Energy recently mandated sweeping changes in the energy efficiency standards of this water-heating appliance. The new standards call for much higher Energy Factor (EF) ratings on all water heaters manufactured with larger than 55 gallons in capacity.
For full article, click on link below:
http://www.optimaproperties.com/new-water-heater-regulations/uncategorized
… (2 comments)
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homebuyer advice: Homeowners Insurance Primer
- 03/14/15 08:17 AM
One of the costs of owning a home that buyers need to consider in their
budgeting is the cost of insuring the home. A standard policy will cover exterior and interior damage from incidents like vandalism, fire, wind and lightning. It also covers loss of use expenses, damage to structures like sheds or gazebos, and liability and medical
costs if someone is injured on your property.
Common exclusions are flood, hurricane and earthquake damage, but you may be able to buy additional coverage for these if desired or required.
Policies vary widely, but in general, homeowners insurance covers the … (0 comments)
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Think twice about purchasing a home with Polybutylene (PB) pipes. Polybutylene (PB) pipes were widely used in Florida residential construction from 1978 to 1995. Billed as a less expensive alternative to traditional copper pipes, up to 10 million homes across the United States were outfitted with PB piping during this period. Polybutylene pipes tend to degrade over time, creating small fractures and pinhole leaks. Any single fracture could eventually result in sudden failure, which generally ends up causing extensive damage to the home. A class-action lawsuit in 1995 resulted in nearly $1 billion being awarded to affected homeowners but the class … (7 comments)
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