CENTURY 21 Alliance Realty would like to wish everyone a wonderful Memorial Day!! Please take time to remember our soldiers today!
May 31, 2010
May 27, 2010
Mortgage Rates lowest of the Year
Mortgage rates on a 30-year fixed rate mortgage have fallen to the lowest level of 2010 this week, according to mortgage giant Freddie Mac. Dropping down to 4.78% from 4.84% last week, the rates are the lowest that they have been since December 2009!
Many economists believe that this drop in rates is due to the European debt crisis, which have resulted in sending yields for Treasury bonds to the lowest levels of the year. As mortgage rates are closely tied in with long term treasury bonds, the rates can fluctuate significantly even on a given day.
These rates are not expected to stay this low for long, if Europe’s financial crisis rights itself and the economic recovery in the United States continues to the road its on, rates on a 30-year mortgage are likely to start rising. This is the time for potential homebuyers to grab the deals, the prices are right and the rates are low.
What Do Buyers Want?
What are some of the “must have” features in new homes? Avid Ratings Company has conducted a survey that shows the results. According to their most recent survey, home buyers prefer the following 10 items:
1.Large kitchens with an island. If you do not have an island you can purchase a movable kitchen island.
2. Energy-efficient appliances and high-efficiency insulation and windows.
3. Home office or study. If you have a playroom or a perhaps a fitness area transform it into a home office.
4. Main-floor master suite
5. Outdoor living room. Adding some small outdoor furnishings such as a bistro set and some lanterns can make a huge difference.
6. Ceiling fans
7. Master suite soaker tubs and oversize showers with seating areas
8. Stone and brick exteriors
9. Community landscaping with walking paths and playgrounds.
10. Two-car garages
May 26, 2010
NFIP Scheduled to Expire this Month
The National Flood Insurance Program (NFIP) provides federally backed flood insurance to nearly 20,000 communities across the nation in exchange for an enforced floodplain management ordinance in an effort to reduce any future flood damage. The NFIP is scheduled to expire on May 31, 2010, after a brief lapse earlier in the year, however the National Association of Realtors (NAR) is pushing for an extension.
Working diligently with Federal Emergency Management Agency (FEMA) as well as Fannie Mae, Freddie Mac, Federal Housing Administration (FHA) and the VA, NAR is lobbying for the passing of a number of different pieces of legislation, each providing different lengths of extension of the NFIP.
According to an update on the status of the NFIP by NAR, “We are requesting the agencies to provide guidance for lenders as to what steps they may take to meet any flood insurance requirements should the NFIP lapse again, with guidance in hand, lenders should have the assurances that they need to continue to close loans. If the program were to lapse, the NFIP would not be able to issue new or renewal flood policies.”
Homebuyers should push to obtain a flood insurance policy before the current expiration date of the NFIP, in case the extension does not come through.
For more information on the efforts of the NAR in this matter, please visit their website.
May 25, 2010
Hurricane Preparedness Week is Here!
With hurricane season around the corner (June 1st – November 30), we celebrate this week with Hurricane Preparedness Week.
It is of the utmost importance to be prepared and informed during Hurricane Season. The reality is that your life could very well depend on it! Developing a family plan and keeping a disaster supply kit handy can help keep you and your family safe during a time of crisis.
Having a family plan would entail knowing what to do in case a hurricane is heading in your direction. Know what type of vulnerability your home has to hazards such as storm surge, wind damage and flooding. Know which room in the home is the safest and inform every family member. Have a family contact that resides outside of the state, therefore family members know who to contact if the family becomes separated.
Pets can be issue during a time of disaster, have a plan to keep your pets safe, they’re your family members too! If you need to evacuate your home, have a safe place to take your pets ahead of time.
Keep a disaster supply kit handy and make each family member award of where is is located. Your supply kit should contain enough items to last at least a week. I have found that large plastic totes work well to keep your supplies in. Your supply kit should contain items such as batteries, water (at least a gallon per person for each day), non perishable food, flashlights, first aid kit, tools, pet care supplies, radio, blankets and pillows.
Some items you can’t keep stored as you may use them on a daily basis. Items such as credit cards, important documents, prescription drugs and cell phones should be placed in your kit the day the storm is heading your way, therefore they stay safe and dry in case of a disaster. Be sure that your vehicle has a full tank of gas, quite often if you wait until the last minute, the lines are lengthy and sometimes the station even runs out of fuel. If you have a generator be certain that it is full on fuel, as well.
By following a few simple guidelines, keeping a clear head and using common sense in the case of disaster, you are more likely to keep you and your family safe.
May 22, 2010
Should I Use A Realtor?
Would you try to fix your car if you had no real knowledge or experience as a mechanic? Probably not. Should you use a Realtor if you want to sell your property or purchase a property? The logical answer to that question is “YES”! Using a Realtor can save you time and possibly more money. It makes sense to call upon a professional! Take a look at a great article from Investopedia to see some reasons why using a Realtor is a smart choice.
May 21, 2010
Land Use Change Proposal will be Heard in Citrus County, Florida
The Planning and Development Review Board in Citrus County, Florida will be presented with two separate proposals that call for a re-zoning of 805 acres of agricultural land in an effort to provide a place for the construction of 1,500 new homes. The proposals that come from Midwest Systems, Inc and George Southworth, will include the land that is located between Pine Ridge and Crystal River.
County planners are recommending that the Planning and Development Review Board deny both proposals as Citrus Springs and Pine Ridge already have thousands of empty residential lots and creating development where none exists heightens the chance for urban sprawl. According to Margaret Beake, Senior County Planner, “The proposal would encourage scattered development and sprawl.”
Both of the proposals would require public hearing and approval from the Citrus County Commission before any changes are allowed.
May 20, 2010
Homeowners are overly confident with Home Values
After a survey taken by Zillow on homeowner’s confidence, it appears that homeowners are becoming overly confident in regards to their home value. 50% of the homeowners across the nation believe that their home’s value has declined, when in actuality the correct percentage of homeowners that have had a decline in home value is 65%.
According to Dr. Stan Humpries the Chief Economist of Zillow, “We can expect to see a lot of new inventory entering the market via sidelined sellers, this added inventory, combined with current elevated inventory levels and continued high rates of foreclosure in many areas, will likely serve to keep home values treading near the bottom for several years. Inventory must come down for home values to go up.”
Homeowners on the west side of the country seem to be less confident in the real estate market, while the homeowners in the south seem overly confident. 34% of the homeowners in the south believe that their homes have gained value when the real percentage is 27%. 18% of the western homeowners believe that their home gained value while the real percentage is 31%.
What to watch for when buying a vacant home
DETROIT – May 20, 2010 – When it comes to the housing market for foreclosures – buyer beware.
“One mistake that we see all the time is buyers going in and assuming all the mechanicals are working,” said Brandon T. Johnson, president of GTJ Consulting in Roseville, Mich. “You have to be careful you don’t get burned that way.”
Johnson’s company maintains foreclosed homes for a number of lenders, Realtors and Freddie Mac. He said the term “as is” shouldn’t scare buyers off as long as they know what it means. He recommends that buyers get private inspections on houses they want to buy to avoid surprises such as missing plumbing or water damage.
Here’s a list of 10 things to watch for in foreclosed or vacant homes from Ross Kollenberg, mitigation and construction manager for On-Site Specialty Cleaning & Restoration in Troy, Mich:
1. Air quality. This tells a lot about the home’s condition. Include air and surface testing in your home inspection. It is a few hundred dollars well spent.
2. Black cobwebs, greasy gray residue on walls and/or a strong oily odor. This is soot damage, which requires professional cleaning, and points to a malfunctioning furnace. It also could be a tip-off that the home had a fire.
3. Discolored subflooring. From the basement, check the subflooring above for stains and small holes, both caused by mold.
4. An older home with extensive renovations. Check with the city for permits: You’ll get remodeling details. If asbestos or lead paint is present and has been disturbed, be sure it’s been remediated by a certified specialist. It the home has four or five major changes, it may not be up to code, and that could mean extensive fixes for the next owner.
5. Peeling, bubbling, and discolored paint; swelling in walls or ceilings (especially around kitchens and bathrooms); a musty odor: All indicate water damage and, potentially, the presence of moisture and mold.
6. Missing sinks, toilets and other fixtures. Sometimes the previous owner will take the fixtures with them, but won’t shut off the pipes or will rip fixtures from the wall. If a pipe was cracked during the fixture removal, it could start a slow leak in the wall that isn’t easily seen. Make sure those fixtures have been properly removed and not ripped from walls and floors.
7. Fungus growth inside cabinets, behind drawers and built-ins. That could mean there has been water damage. Since water falls down, look for the source above the mold. One trick inspectors use to determine whether there could be hidden water damage is to pull out the kitchen drawers and look inside to see whether the back wall has been rebuilt. If it has, that could mean water damage has been covered up.
8. Excessive painting of every nook, cranny, door and floor. The seller may be covering up mold. “When you go do a home that is ‘landlord white’ and the trim is flat, we tell people there is a reason the house was painted this way,” Kollenberg said. “When we see it is over everything, it is a tip-off that it is just covering something up.”
9. Unheated house in winter months. If the home has been properly winterized, there’s no need for heat. If not, pipes will burst and cause water damage.
10. Blocked drains or pipes. These will cause future problems and may have already created sewage backups. Check for a telltale water ring in the basement, Kollenberg said.
Copyright © 2010 Detroit Free Press. Distributed by McClatchy-Tribune Information Services.
May 19, 2010
Movies in the Park in Citrus County Florida
On Saturday, May 29th, 2010 Movies in the Park continues at Floral Park in Floral City, Citrus County, Florida.
All movies are completely FREE of charge, hosted by the Florida Department of Health Tobacco Prevention Program and Citrus County Parks and Recreation (CCPR).
This weekend come and watch the lovable ET under the stars. Movies start when the sun sets. The only thing you need to bring is a blanket or a small chair (no more than 6″ off the ground), something to munch on and someone to laugh with! CCPR will supply the popcorn!
Floral Park is located at 9530 S. Parkside Ave., Floral City 34436.
Related articles: Movies Under the Stars in Citrus County Florida
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