Overview There is a large influx of buyers into the market this year, and New Home Builders are gearing up to fill a need for housing in the Tampa Bay Market. Buying "New Construction" is a bit different from buying a previously-owned home, you will be the first one to live there, so rather than dealing with a previous owner, you will work directly with the builder and his representatives. As with buying any home, you need to secure financing before you even begin house hunting. Get pre approved by a … (2 comments)
tampa bay real estate: 5 steps to buying a New Construction Home Step 5
- 06/02/15 02:08 PM
The Closing. Well we made it! Time to close the deal and own your Home. Let's review and get things ready for the closing. Your mortgage should be approved and the funds wired to the Title Company handling the closing. You should get an estimate of the required funds from the Title clerk and in most cases, you need to wire the funds to the Title company's account. You still have a few loose ends to take care of, you need your homeowners insurance policy in effect for the day of closing, paid in full. This includes wind, flood and liability riders that are required by … (2 comments)
tampa bay real estate: 5 steps to buying a New Construction Home Step 4
- 05/25/15 04:16 AM
Step 4. Inspections When you buy a New Home, there are different types of inspections you should do. If you are buying an inventory home, you should have an independent home inspection, at your cost, performed by an inspector of your choice. Preferably someone with a background in home construction. This will encompass all of the home and it's many components. If you are building from scratch, you should have a "phase inspection", this is conducted just like it's called, in different phases of construction. Such as the slab, framing, trades (electrical, plumbing, HVAC etc), insulation and drywall, well you get the idea, a lot … (3 comments)
tampa bay real estate: 5 steps to buying a New Construction Home Step 3
- 05/19/15 01:02 PM
3. What do you get for your money? When you buy a new home, some things are included and some are not. Some builders include almost everything, including window treatments and appliances. Other give you very low end floor coverings, flat paint, Formica counter-tops........ But wait, you can go to the "Design center" and pick out your upgrades. This is the step that can really cost you money, it can increase the final price of your home. from $200,000 to $240,000. And many times you can get the same upgrades, at half the cost, by doing it later. For example, you can get tile floors and granite counter-tops for … (0 comments)
tampa bay real estate: 5 steps to buying a New Construction Home Step 2
- 05/13/15 03:07 AM
Step 2 Don't do it on your own. If you have a buyers agent to represent you, the agent can do a lot of your legwork before you even look at a model home. They can research the new home developments in your price range and consider the distance to your work, schools, local entertainment and places of worship. Check on the HOA, deed restrictions, and find out when the Association will be released by the developer. Check out the different lots being offered, the lot premiums and most importantly, the location of the individual lots, not just the dot on a map. And now a cautionary … (0 comments)
Now that you have your financing in place, it's time to make a decision. What type of new home do you want to pursue. There are three types of new construction, Custom, Semi Custom and Spec. Custom is when you buy a lot, find a builder and get your true dream home. This is a special type of project, not for the faint of heart, and is better left for a blog or two, all by itself. Spec is a home in a subdivision, which is built by a builder, with many of the most desirable features already added to the home. … (0 comments)
tampa bay real estate: 5 steps to buying a New Construction Home
- 05/08/15 03:42 AM
There is a large influx of buyers into the market this year, and New Home Builders are gearing up to fill a need for housing in the Tampa Bay Market. Buying "New Construction" is a bit different from buying a previously-owned home, you will be the first one to live there, so rather than dealing with a previous owner, you will work directly with the builder and his representatives. As with buying any home, you need to secure financing before you even begin house hunting. Get pre approved by a bank or mortgage lender. I have included a link to get started with a lender, Tyler Cain, Embrace Home Loans NMLS# 118156 https://secure.embracehomeloans.com/Application/ApplicationRedirect.aspx?LO=1384&Code=&Msc= Decide how … (2 comments)
tampa bay real estate: Looking for Tampa Fl Real Estate?
- 02/07/11 05:11 PM
Homes in My Area See these Tampa Real Estate on Zillow color:#36b;font-size:7pt;fon Look for me on Zillow, in the 33624 and 33626 zip code area.s … (1 comments)
tampa bay real estate: Florida Condos
- 01/07/11 11:50 AM
Ah Florida the land of Sunshine and Oranges and, oh yeah, Condos! For years developers have been tearing down the old mom and pop motels and putting in Condos. An old Cigar Factory, Condos, an old Apartment complex, Condos right well sort of, Condo conversion. Florida has become the land of condos and now we have a real big probable, banks don't want to finance them. FHA offers financing, but only on "approved" complexes. But there is a great way to get a bargain priced condo in Florida. Ask your Realtor, (hopefully me) to find you a Fannie Mae owned condo, … (0 comments)
tampa bay real estate: Chinese Drywall
- 01/06/11 02:23 PM
By now everyone has heard of Chinese drywall, but has anyone heard this one. I have a listing that is being purchased by an active military person who is overseas at this time, the agent for the buyer is doing the inspections while he is away, the Home Inspection company, runs the air conditioner on a 59 degree day and it ices up as it should at this low of a temperature, the home inspector says, oh my, this is a sign of Chinese drywall, you better get and inspection for this. Who would you recommend? Well our company does it … (2 comments)
tampa bay real estate: Christmas in Miami
- 12/24/10 05:41 AM
Well I just got back from rain drenched California and now I'm off to Sunny Miami for Christmas. I just wanted to wish everyone on the Active Rain Team a Merry Christmas and very prosperous New Year. Let's all hope that the Market continues to rebound and we get so busy that we are complaining about that rather how bad business is. Don't forget to help your needy neighbors and may God Bless. … (0 comments)
tampa bay real estate: Count Down To Christmas
- 12/16/10 12:35 PM
I'm still hanging around at my Daughters house in Southern California. Lot's of cookies, a trip to Universal Studios, all the usual holiday stuff. And I am still working on a short sale negotiation. I have been working on this since August, that's when it went to contract. To all the Consumers who are reading this, just to let you know, this is not a cake walk by any stretch, it is a infuriating, agonizing and very frustrating process. There is a place for this type of transaction, but should not be under taken by anyone in a hurry. I have recently … (0 comments)
tampa bay real estate: Holiday Shopping
- 12/15/10 02:53 PM
The economy is in the dump, congress is spending all you tax dollars on Pork projects,and the top ten companies in the US are sitting on 1.3 Trillion Dollars, and not reinvesting or creating jobs. I just watched ABC news and boy do you want to get depressed. But wait, there is a silver lining, Real Estate prices are low and so are interest rates. So why are so many people just sitting around waiting for something to happen, it's happening right now. An economic windfall like this comes around every thirty or forty years and the peaches are hanging low … (2 comments)
tampa bay real estate: First Time Home Buyers / Tampa / Recap
- 12/14/10 12:36 PM
Well that's about it for the Home Buying process. All of the steps are in order, you can use all of them or most of them. The down payment assistance portion is optional, if you have the down payment to complete the transaction, you be in the best position to make a purchase, remember all closing costs paid by the Seller on your behalf comes off the Sellers bottom line. so you have to think of a Seller contribution in the terms of, whatever the Seller will contribute is actually money that the Buyer is financing in order to obtain the loan. … (0 comments)
tampa bay real estate: First Time Home Buyers/ Tampa / The Closing Part 2
- 12/10/10 01:10 AM
As we discussed in the last blog, hopefully the funding number camethrough in a timely manner and we are going to finish up the closing. One thing I did not adress, is the deposit. If you left your deposit with the closing Title Company, they already have the deposit, if it is being held elsewhere, your Realtor will bring it, or have it wire transferred to the closing Title company. The balance to close must be brought to the closing by the Buyer, you will be notified by the closer as to the amount needed, and funds must be in the … (0 comments)
tampa bay real estate: First Time Home Buyers / Tampa /HUD 1 Buyers Side
- 12/08/10 10:57 AM
Well I ran out of room on my last blog and we need to address the Buyers side of the HUD. The Buyer is responsible for all of the closing costs attached to the loan. Also, the tax stamps on the mortgage and the intangible tax on the mortgage. You also need to pay your homeowner insurance and set up an escrow for your properly taxes. Do you see why I didn't just tack this on to the last blog? But wait, there's more, you also need to prorate the items that the seller has already paid, such as the prepaid ad … (0 comments)
tampa bay real estate: First Time Home Buyers / Tampa / HUD 1
- 12/08/10 09:10 AM
Now that you have some idea of what goes on at a closing, I will give you an Idea of what a Hud 1is. When ever you do a transaction where money and property changes hands. You need a tally sheet in order to keep track of the money. The Department of Housing and Urban Development, decided it would be best if a standardized form was used for all Real Estate transactions, hence the HUD 1. Until you receive a recorded deed, this documentrepresents the final sale of the property from seller to buyer. It is also used as a record of all … (0 comments)
tampa bay real estate: First Time Home Buyers / Tampa / The Closing
- 12/07/10 03:59 PM
This is a long one so I am going to devote one blog to the closing and the other to the HUD 1 which is the balance sheet on which all of the numbers ar collected and tallied. The closing is held at a Title Company, all of the parties need to sign the papers to transfer the title to the new owners. Everyone does not need to be there at the same time, but everyone need to sign, that are signatories on the original purchase contract. In Tampa Bay the seller customarily pays for the Tittle Insurance policy and selects … (0 comments)
tampa bay real estate: First Time Home Buyers / Tampa / Final Walk Through
- 12/07/10 04:18 AM
The day is finally here, all the inspections are completed and all the paperwork is at the Title Company. Only one last thing to do before we close,we need to take one more look at the property before we sign the papers. Usually the walk through is done right before the closing, but it can be done the day before, this is a good idea if the closing is scheduled early in the morning. When we arrive at the house a cursory inspection of the grounds is completed and we look at the exterior for any obvious changes since the home … (0 comments)
tampa bay real estate: First Time Home Buyers / Tampa / Homeowners Insurance
- 12/06/10 03:38 PM
Well we are almost to the finish line, but wait, your mortgage company won't let you close on your new home until you insure it. Sounds easier than it really is. In Florida there are several different kinds of Insurance you will need, specific to the Tampa bay area. First you need your basic Fire and Liability Insurance that most people around the country also need. But if you live west of I-75 you will most likely need wind insurance, because of Hurricane possibilities. Closer to the water you will need flood insurance, close to an existing sinkhole area, you guessed … (0 comments)
By popular demand, I have re-posted the entire series. I appreciate your comments, and I would also be honored, to be followed by you.
;)
;)
