Buying a New home? Use a Realtor.

I would always recommend an experienced Realtor with a construction back ground to represent you in a new home purchase. I have represented many clients purchasing new homes. “Why would I need a realtor to buy a brand new home”, you ask? Here is some of the most important task a buyers Realtor can perform for a new home buyer. The greatest part is the service is free to you. The builder pays the commissions. Builders realize how important Realtors are to their sales, and are happily pay the buyers side commissions.

1.       Research what other new homes in your future neighborhood sold for, and negotiate the lowest possible price for you with the builder. Builders may be stubborn on the price because of future sales comps, but an experienced Realtor can preform "back end negotiation's and have the builder throw in upgrades like pool at cost, backsplash, high end appliances etc.

2.        Realtors know the intangibles of what makes a property or neighborhood a good investment. Realtors are in the know about CDDs, (Community Development Districts) short and long term construction plans such as highways, road expansions, rezoning or any change that could affect a neighborhoods home value.

3.       Recommending local lenders to compete with the builder’s lender so you get the best rate and terms for your mortgage. This could be a huge money saver over 30 years. In the past we’ve had 2 mortgage agents at the closing table competing for the loan.

4.       Picking out upgrades from a small sample can be overwhelming for a new home buyer. A Realtor can assist with finding options that fit the buyers taste, and help the home appreciate in case they ever want to sell.

5.       Although not a home inspector, (which may be an option) a Realtor with construction experience can monitor the quality of work, inspections, timelines, and even take pictures of the progress for out of town buyers.

6.       Check the title and purchase history of the land the home is being built on. The way builders borrow money, lots can be bundled together and it’s important that the title is clear of liens at the day of closing.

7.       Monitor the closing for a smooth transaction. Available to answer any question through the process.

8.       Provide move in check list and utility company contacts.

9.       Provide reliable movers, contractors, and handy men, to hang pictures, paint, and install window coverings and upgrades. Realtors use and recommend these business constantly. We know who shows up when they say, and who does quality work.

10.   A Realtor is there to guide you and make your closing and move as smooth as possible.

Witten by David A. Foster, Realtor, GRI, E-pro

Cannot be copied or duplicated without written permission.  www.davefoster1.realtor

 

American Sand Sculpting Championships on Fort Myers Beach

 

One of my all time favorite events is the American Sand Sculpting Championships on Fort Myers Beach. We are always amazed at the talent, hard work, & stamina it takes to build these beautiful sculptures from a pile of sand. We love to take the boat and spend the day. Here are some pictures I took from last years event. Don't miss this years, 11-22 - 12-1-2013 for more info http://fmbsandsculpting.com/  see ya there!!

 



What is my homes value? What is the value of my home?

I can give you a no hassle, prompt, accurate, professional estimate of your home’s value today. Call 239-246-5660 or visit http://dfoster.us/contact-me.html .

There are so many variables to a home’s market value, it’s impossible for these national search engines to be truly accurate. That being said, some web sites below can be a good first step to selling your home or finding out your homes real market value. Warning: the estimate may vary.

The internet searches vary from hard to navigate and having to give your personal information to easy and quick home value estimates. I searched through many of the Google first page results to save you time. Below are sites that I found easy to navigate, fast, with tons of helpful information. I did not have to give any of my personal information.

Quick and easy online searches

Zillow has been around for years and is a very user friendly and fairly accurate.

http://www.zillow.com/how-much-is-my-home-worth/ 

Ziprealty was pretty nice. It gave me a “Zip Quote” 3 different estimates from 3 different sites. Only problem here is one was 100k too high. 2 out of 3 isn’t bad. http://www.ziprealty.com/

Chase: very easy quick results

https://www.chase.com/mortgage/mortgage-resources/home-value-estimator 

Home value map was also a very good site, but was a little low on that particular property.

http://www.homevaluemap.com/ 

Finding that sweet spot (market value) is extremely complex. It requires hard work, experience and market knowledge.

The appraiser has to be satisfied or the deal could be dead. The buyer has to feel like they have received a fair price. The seller needs to know that the realtor priced the home right, used the latest marketing techniques for maximum worldwide exposure, negotiated the highest price possible and sold the home fast with little hassle. Would you trust thousands of dollars to just any Realtor?

     David A. Foster Realtor®  GRI, Epro

                    http://www.davefoster1.realtor         239-246-5660

What is a CDD and how will it affect market value of a home?

A Community Development District is a special purpose form of local government described as an independent taxing district. This district exist under Florida Statue Chapter 190 http://www.ccfj.net/FS190CDD.html . The district in my community is governed by a board of 5 supervisors.

There is a misconception that the Developer/Builder borrows money from the County in the form of bonds to pay for amenities. The District (CDD) as a government entity, issues municipal bonds on the lands within the boundaries of the district to fund public infrastructure in the community such as roads, storm water systems, drainage, Utilities etc. It does not normally cover amenities such as pools, clubhouses, golf courses, tennis courts etc.

The CDD imposes a special assessment against all land owners whether it’s a developer, builder, or end user within the community. The bond is usually paid over a 30 year period. So if you purchased a 5 year old home in a neighborhood with a CDD you would inherit 25 years of CDD payments. When the bond is paid off you may still have to pay a maintenance fee. This is called an “Operation and Maintenance Assessment”. This lower payment is for the day to day operations, management and maintenance of the CDD. This is the second component and may be seen on your annual Real Property tax bill.

To see details of your Lee County Florida tax history, or if a property has a CDD, go to www. leetc.com Look at the top middle of the page where it says,” did you know you can also” Click Search Real Property Records –That will bring you to this link.

http://www.leetc.com/search_criteria.asp?searchtype=RP&c=home&r=1&page_id=searchcriteria

You can search by Account number, Personal ID#, Name or Address. I have good luck with address. Click on Details, and then Tax Details then look under non ad valorem assessments. There you will find the Name of the Community Development District and the annual amount of the CDD. This may only show the total.  If you want an Operation and Maintenance Assessment breakdown, payoff date and amount or any other information, you can contact the CDD’s name listed. If Google doesn’t work you can contact the Tax Collectors office @ 239-533-6000 to get the phone number of the CDD.

Is a CDD different than an HOA? YES

A Homeowners Association is a not for profit Corporation which is made up of members or homeowners within a specific geographic boundary, and is considered private. These HOA fees are charge separately and have nothing to do with the CDD.

Before you get down on CDD’s, there should be many factors to consider.

1.       When purchasing a home, the CDD should be considered in your budget just as any other expense would.  Include them with P&I, taxes & insurance etc. This may be used as ammunition with your proposed offer.

2.       Is the community with the CDD where you want to live? Have location, demographics, infrastructure and amenities that fit your lifestyle and you will use? Does the price of the home compare to communities close by with no CDD?

3.       Some home owners like the fact that the above mentioned items in their community are for the people in that community and not shared. For instance, if you live in a City, that City may add a pool and recreation center across town that you will never use. Guess who helps pay for it? Everyone in the City, they don’t have a choice. (I am not mocking City living, I have friends that live in the City and love it, this is only an example)This way you have the right to pick a community with the amenities for you. I hope this makes sense.

To summarize, you may not want to disregard a community that has a CDD if you can get the Location, amenities, utilities and home you want. Look at the comparable sales and consider all the factors before you make an offer. So does a CDD affect the market value of a home? A CDD payment is an expense that has to be factored in with the homes price. So my humble opinion is yes.

Written by: David A. Foster Realtor, GRI, E-pro, www.davefoster1.realtor 239-246-5660

Some of the proceeding information was extracted from CATALINA AT WINKLER PRESERVE                                      COMMUNITY DEVELOPMENT DISTRICT GENERAL INFORMATION PRESENTATION.

        Furnished by Rizzetta & Company, Inc.
         8529 South Park Circle, Ste 330
         Orlando, FL 32819

Special Thanks to Valerie Barreto Senior Finance Associate for her professional assistance.

Struggling to make your Mortgage payment?

While doing research on foreclosure procedures and information, I stumbled across a web site that is stuffed with information about loan modifications, tools and recourses that are proven to prevent foreclosure.
Operation Restoration http://www.operationrest.org/Home is a web site devoted to help consumers avoid foreclosure and help with information referring to loan modification's. As Realtors, we should keep the American dream of home ownership alive. I am blessed enough to own several properties. I hope that the true hard working people that are struggling can use this link to help save the homes their family's enjoy.

David Foster GRI E-Pro