Posts Tagged ‘Delray Beach homes’

Florida Closing Cost Primer for Buyers

Closing costs are inevitable when you’re buying or selling a property. While they vary from state to state, the amount you’ll pay in Florida depends on both the property and the county it sits in. As a buyer, you’ll have to cover most of the fees and taxes. In Florida, you’ll also have to post a fee for documentary stamps (or doc stamps), which is a percentage of the sales price. Then there are the taxes. You’ll likely be subject to property and transfer taxes.

Neither party is responsible for 100% of the closing costs in Florida, which includes fees, taxes, insurance costs and more. The buyer typically pays between 3% to 4% of the home loan’s value and is responsible for the bulk of the fees and taxes. The seller usually pays between 5% to 10% of the home’s sale price. Closing costs also vary among counties.

Condos are regulated by the Florida Condominium Act. The legislation lays out your rights to the property and gives you an “undivided interest” in all the common areas of the building. You’ll have to pay a monthly maintenance fee or a yearly homeowners association fee to cover the servicing of those areas that fall under the “undivided interest.” The fee isn’t tax-deductible.

If you are getting a mortgage The fees shown on the Good Faith Estimate can be difficult to understand but can be broken down into five sections.

One-time fees

Appraisal fee
Reinspection fee
Credit application, credit report and credit supplement fees
Mortgage origination fee
Lender’s title insurance policy (optional owner’s title insurance)
Escrow fee
Home inspection fee (optional)
Closing attorney fee
Courier fee
Bank processing fee
Recording fee
Notary fee
Loan discount points

Recurring fees

Homeowners insurance
Property taxes and tax servicing fees
Mortgage insurance premiums
Flood certification fee (in some areas)

Appraisal fees

Lenders typically require an appraisal as part of the underwriting process, before financing a home purchase. Appraisals will vary in price depending on the location and size of the property. The lender hires an appraiser to provide the fair market value of the home, and the buyer pays the lender.

Mortgage origination fee

Every lender will charge a mortgage origination fee, which covers their service and administrative costs. The average loan origination fee is 1% of the total loan amount. Buyers should shop for lenders with both experience and low origination fees.

Title insurance policy fees

Lenders typically require borrowers to purchase insurance to protect the financial institution from future title claims. This policy is called lender’s title insurance and the cost depends on the location and size of the property.

Owners title insurance protects the Buyer from future claims against the title. The customary party that pays for the Owners Title Policy varies by County in Florida. In Sarasota,Collier, Miami-Dade and Broward County, the Buyer pays for title insurance and chooses the title company. In all other counties, it is the Seller’s responsibility.

Escrow fees

During the purchase and sale transaction, your funds will enter a holding account managed by a third party — an escrow company. When the transaction is complete, the escrow representative will disperse your down payment, fees, and loan proceeds to the appropriate individuals.

Home inspection fee

A home inspection is a common contingency for a home purchase. As the buyer, you can hire an inspector to evaluate the condition of the home and its systems prior to purchase. Home inspection costs vary depending on the size and age of the property. You will pay the inspector for their service out-of-pocket, and this amount is separate from the purchase and sale transaction.

Attorney Fees

Florida is a Title Theory state and does not require that an attorney be used to close a real estate transaction. Private real estate attorneys, or borrower’s attorneys, are an additional and optional cost for buyers who want a specialist to assist them with contract-related issues or professional advice beyond the scope of their agent’s abilities. Private real estate attorneys charge by the hour or charged a fixed rate for the transaction and rates vary based on their level of expertise and services provided.

Documentation fees

During a financed home purchase, several institutions need to process information and create official records.

The courier fee allows lenders to send your documents to necessary parties
The bank processing fee pays the bank for handling the necessary loan documentation.
The lender uses the recording fee to pay the county to file a public record of the transaction.

Loan discount point fees

When locking your interest rate with your lender, you’re allowed to buy down the rate. To do this, you pay “points” — essentially, paying interest in advance. One point is equal to 1% of the loan; but that does not translate to a 1% drop in interest rate. Not all buyers choose to buy down their interest rate, but when they do, the rates vary by lender.

Homeowners’ insurance

As a stipulation of your financing, you will be required to purchase homeowners’ insurance. You will continue to pay the insurance premium on a yearly or twice-yearly basis directly to your insurer, or monthly via an escrow payment that is part of your monthly mortgage payment to your loan servicer. Homeowners insurance policy fees range based on the amount of coverage and the size of the property.

Property taxes

Your property taxes will be prorated based on your closing date. Some buyers pay their taxes in lump sums annually or biannually. If you don’t pay this way, you might escrow the taxes, which means they would be included as an escrow line item in your monthly mortgage payment to your loan servicer. Property taxes are paid in arrears in Florida.

Mortgage insurance premiums

If your loan amount is more than 20% of the value of the home, you are typically required to pay insurance to protect your lender’s investment. Mortgage insurance is generally escrowed but may vary from lender to lender. Some lenders will also charge a one-time application fee for mortgage insurance.

Flood insurance

Depending on the location of your property, you may also be obligated to purchase flood insurance to help protect your lender’s investment. Flood insurance policies range by risk level, based on location and are a Federal Program and the pricing cannot be competitively shopped for.

What are the closing costs for cash buyers?

Cash buyers are still required to pay for things like notary fees, property taxes, recording fees, and other local, county and state fees. Unlike a buyer who is using financing, cash buyers won’t have to pay any mortgage-related fees. But most cash buyers still opt to pay for things like appraisals, inspections, and owner’s title insurance.

Closing costs can vary depending on where you live in Florida, the type of property you buy and how much it sells for. While the seller forks over some money, the buyer pays for the bulk of the fees and taxes, which typically add up to 2.5% of the average sale price depending on the time of year you close ( proration sensitive).

Filed under: 2022 Real Estate, appraisal, Blog, Boca Raton real estate, closing costs, contracts, Exclusive Buyer Agency, Exclusive Buyer Agent, First Time Homebuyers, Flood Insurance, Florida Real Estate, Foreign Home Buyers, Home Buyer Advice, Home Buyers, Home Financing, home Inspections, Homebuyer Advice, Homeowners Insurance, House Closings, Mortgage Information, Mortgage Interest Deductions, Real Estate, Real Estate Closings, Real Estate Investment, real estate news, Relocation, South Florida Real Estate, Tax deductions, Title Insurance, Uncategorized by Kim Bregman
Comments Off on Florida Closing Cost Primer for Buyers

2022 South Florida Real Estate Projections

Nationally, expect slower housing price appreciation, easing inflation and rising interest rates in 2022, according to a survey of more than 20 top U.S. economic and housing experts by the National Association of Realtors® (NAR). “Overall, survey participants believe we’ll see the housing market and broader economy normalize next year,” Yun said. “Though forecasted to rise 4%, inflation will decelerate after hefty gains in 2021, while home price increases are also expected to ease with an annual appreciation of less than 6%. Slowing price growth will partly be the consequence of interest rate hikes by the Federal Reserve.”

Fed boosts to interest rates do tend to move rates higher on longer-term loans, such as 30-year mortgages. Yun expects the 30-year fixed mortgage rate to increase to 3.5% as the Fed raises interest rates to control inflation but noted this is lower than the pre-pandemic rate of 4%.

In South Florida Home prices are projected to continue to grow, but slower than the past year. “We don’t expect to see the same price appreciation we had last year, though we don’t expect to see a decline in pricing,” said Eli Beracha, director of the Hollo School of Real Estate at Florida International University. A Realtor.com forecast predicts that South Florida housing prices may rise almost 6% over the next year, while a Zillow forecast predicts that home price appreciation could shoot up by 15%.

A few factors are going to cause slower price growth: more inventory as sellers try to capitalize on the hot market, new developments hitting the market and an increase in mortgage interest rates. Demand from foreign and out-of-state buyers will continue to drive South Florida’s housing market, but experts also expect new inventory to alleviate some of the pressure that has been fueling the pandemic-era housing boom.

Experts say the market will still favor sellers, as demand and limited inventory will keep the balance in their favor. Bidding wars and multiple offers on homes will probably still be a common.

The supply chain issues, and lack of labor will continue to lead to increased construction costs and thus higher prices for buyers.

Filed under: 2022 Real Estate, Blog, Boca Raton real estate, Exclusive Buyer Agency, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Homebuyer Advice, House Closings, Real Estate, Real Estate Closings, Real Estate Investment, real estate news, Real estate trends, South Florida Real Estate by Kim Bregman
Comments Off on 2022 South Florida Real Estate Projections

What is An Appraisal Gap and Appraisal Gap Coverage Clause?

An appraisal gap is the difference between the fair market value determined by the appraiser and the amount you agreed to pay for the home.

An abnormally high number of homes across the United States are being appraised below their agreed-upon sales prices, causing some deals to implode.With home prices soaring in recent months, buyers often pay above asking price to win bidding wars. As a result, CoreLogic estimated that about 13% of appraisals came in below the contract price in August.

A home appraisal is an evaluation and report performed by a licensed appraiser to determine a home’s fair market value. Lenders require a home appraisal to ensure the amount you agreed to pay for the home is equal to or less than the appraised value. To create a home appraisal, appraisers normally rely on factors like data from recent closed and pending sales. But since sales usually close a month or two after going under contract, rapidly increasing home values can sometimes skew appraisals that rely on home values recorded months earlier.

In today’s hot market, many prospective buyers will get into bidding wars and possibly waive the appraisal contingency or offer an appraisal guarantee up to a certain amount. In both cases, the buyer would have to come up with the difference in cash between the appraisal and the sale price, or their appraisal guarantee and the sale price.

The disparity underscores the risks buyers face in the current market, especially those stretching their dollars to win a bidding war. Mortgage lenders will typically offer only enough to cover the appraised value of a home, forcing buyers to either provide the balance, renegotiate, or terminate the deal if an appraisal comes in below the contract price.

Using An Appraisal Gap Coverage Clause:

If you want your bid to outshine the others, an appraisal gap coverage clause may be necessary. An “appraisal gap clause” is used in a sales contract to guarantee that the home buyer will cover the monetary gap between the appraisal and the sales contract if an appraisal gap becomes an issue.

The clause states how much of an appraisal gap you’re willing to cover. Since there’s no guarantee an appraisal will match the agreed-upon sales price, it’s often something sellers look for to know the offer will still stand even if the appraisal comes in a little low.

The main thing that needs to be noted is the monetary value of your appraisal gap guarantee. It’s not wise to state that you will cover an unlimited amount between the sales price and the appraised value. I recommend always putting in the maximum amount that you are willing to cover.

What Should You Do When The Appraisal Is Less Than The Offer?

You have several options when the appraisal is less than the offer including walking away from the sale, but that doesn’t work in every situation.

Here’s what to consider:

Pay The Difference

If the seller won’t negotiate to lower the purchase price, you’ll be on the hook to pay the difference unless you have an appraisal contingency in your contract. The appraisal contingency gives you a way out of the contract without losing your deposit. Without it, you must buy the home or risk losing your the money you have already put down into escrow.

Without a lower sales price, you’ll have to pay more for the home. Since lenders base your loan amount on the appraised value, you’ll need your agreed-upon down payment plus the difference between the sales price and appraised value.

What if you don’t have the cash?

Ask for gift letters from family members or leverage your investments. You may be able to use some retirement funds without paying a penalty. Talk to your 401(k) administrator or tax advisor to see what options you have. If you own other real estate, consider tapping into the equity and using the funds to cover the appraisal gap.

Renegotiate The Offer

If you have an appraisal contingency on your sales contract, you may be able to work with the seller. Start by requesting the seller to lower the price to the appraised value. This would eliminate the appraisal gap and your financial issues in buying the home.

Asking the seller to renegotiate can be risky in a seller’s market, so be careful. If the seller has a kick out clause, they could accept another offer that comes through. They still must give you the time to remove your appraisal contingency and seal the deal, but they can choose the other offer if you don’t.

Dispute The Appraisal

You can dispute the appraisal, asking for a reconsideration of value. However, this is not easy to do as you’ll need plenty of evidence to prove the appraisal is inaccurate.

You must prove one of the following:

The appraiser didn’t use appropriate comparable sales, and you have proof of more accurate options
The appraiser missed features or upgrades in the subject property
You found mistakes in the report
The appraiser only conducted a drive-by or exterior appraisal

Walk Away from the Sale

It’s not the most pleasant choice, but if you’re worried about paying more than a property is worth, sometimes walking away from the sale is the best option. If you’ve unsuccessfully renegotiated with the seller and disputed the appraisal to no avail, it may be best to look for another property.

Before you do this, talk to your attorney. If you didn’t include an appraisal contingency in your contract, you might risk your deposit. Sometimes other contingencies still help, though, especially a mortgage financing contingency.

Filed under: appraisal, appraisal gap, appraisal gap coverage clause, Blog, Boca Raton real estate, contracts, Exclusive Buyer Agency, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Home Financing, Homebuyer Advice, House Closings, Real Estate, real estate news, South Florida Real Estate, Uncategorized by Kim Bregman
Comments Off on What is An Appraisal Gap and Appraisal Gap Coverage Clause?

How To Win A Bidding War!

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 war In a hot housing market, it’s often not enough to quickly make an offer on a house but to have the highest price and best terms.

Here are a dozen ways you can get an edge on the competition.

Offer to Pay in Cash

If you have the ability to offer an all-cash bid, you gain a distinct advantage because you eliminate the possibility of a mortgage falling through before closing. Buying with cash will make the process go quicker because you won’t need to go through the approval process with a lender, who would also request an appraisal. If you can’t cover the entire purchase price in cash, you could agree to a larger down payment on the house, which increases your approval odds and might make your bid more attractive.

Get Pre-Approved

Pre-approval is a step most buyers will take anyway, but it’s absolutely essential for anyone in a competitive bidding situation. Pre-qualification is not enough, as it doesn’t show that the lender conducted the same amount of due diligence—such as checking your earnings and doing a hard credit check—that a pre-approval would require.

Know Your Financial Limits

When you’re preparing for a bidding war, think of it like an auction—you need to know how much house you can afford before you actually bid. Once you know the maximum amount you’re willing to bid, you can include an escalation clause in your purchase offer to ensure you can instantly counteract any other bid. An escalation clause lets you increase your bid to avoid being outbid by another buyer up to a specified amount.

Provide More Earnest Money

Buyers typically provide 1% to 5% of the purchase price as earnest money—a form of a security deposit—in a purchase contract, which gives sellers the assurance that you will follow through with the purchase. If you bail out on the contract without citing a contingency, you will likely lose the earnest money. If you put down more than the typical earnest money amount, it will tell the seller that you’re determined to follow through to the closing.

Be open to making offers sight-unseen

Speed is key in a seller’s market as competitive as this one. If you’re interested in a home but live far away or just haven’t been able to tour it, you can still throw your hat in the ring. Video tours and 3D walk-throughs have made sight-unseen offers much more feasible. Almost two-thirds (63%) of people who bought a home last year made an offer on a property that they hadn’t seen in person.

Remove Some or All Contingencies

When you make an offer to purchase a house, you know the deal could fall through for numerous reasons, and you don’t want to lose your earnest money because of it. That’s why you include contingencies in the purchase contract; if the home inspection uncovers major problems or you can’t sell your current home in time to close on the new one, you can get out of the contract without penalty. Almost no offers contingent on the sale of a home will win a bidding war. Sell your home, rent and then start trying to get a home under contract. Simultaneous closings are so 1990’s.

If you can’t waive contingencies, sweeten them for the seller. Opt to expedite the contingency timeline.

Be Flexible on the Move-in Date

First-time home buyers and those who have already sold their previous home might be in a position to be flexible with the sellers on their move-in date. A seller might ask for more time if they have concerns about potential delays for a new home build. In this case, they could go through the closing and then rent the home back from you for a few weeks or a month. This flexibility could be as valuable—if not more valuable—than a higher bid on the house.

Start low, bid high

A lot of successful buyers today win by making an offer that exceeds the asking price…in fact it is expected. This also means that a lot of buyers end up exceeding their budgets. To prevent this, only search for homes that are listed 10-15% below what you can afford, so that you can make an over list price offer.

Offer to pay some of the seller’s costs

Home buyers can make their offers more competitive by offering to pay for expenses that are typically covered at least partially by the seller.

Write a Personal Note

Home sellers, especially ones who have lived in a home for a long period of time, can sometimes be swayed by a personal note that explains why you believe this is the home of your dreams. For example, you might know that the current owner raised a family in the home, and you can discuss how you hope to do the same. It might seem a bit over the top, but it’s certainly worth a try when not much separates your offer from others. And yes—sometimes it works. Avoid putting any personal information in the letter that may expose the Seller of real estate agents from violating Fair Housing laws.

Prepare to lose before you win

With more than half of offers facing competition these days, it’s more likely than not that you’ll get into a bidding war if you’re in the market for a home. It’s also wise to know when to walk away. It’s OK to put your search on hold if you reach the point where you’re not comfortable making the aggressive offers that are often necessary to win in today’s market. You don’t want to end up with buyer’s remorse, after all.

Use an experienced Exclusive Buyer Agent that has been successful with winning bidding wars and speak with their references. Be prepared to ask to be in a Back Up position if you lose the bid. The market is too competitive and offers move too fast for novices to be effective at winning bidding wars in a multiple offer situation.

Filed under: Blog, Boca Raton real estate, contracts, Exclusive Buyer Agency, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Foreign Home Buyers, Home Buyer Advice, Home Buyers, Home Financing, home Inspections, Homebuyer Advice, House Closings, International Home Buyers, International investors, Real Estate, Real Estate Investment, real estate news, Real estate trends, Relocation, South Florida Real Estate by Kim Bregman
Comments Off on How To Win A Bidding War!

Tips for Buying a Home in a Seller’s Market

Buying a home in a Seller’s market always has its challenges. But when you’re trying to do it in a seller’s market, the difficulty can reach a new level. When the market favors the seller, time is of the essence. Multiple offers happen with more regularity in a seller’s market than a buyer’s market, because a seller’s market is defined in part by low inventory and a surplus of home buyers. A beautiful home that is priced well can attract more than one offer.

In a seller’s market, you should always assume you’re competing against several other offers. However, that doesn’t mean you can’t buy a new home in a seller’s market, when there are more buyers than homes, and sellers can afford to hold out for higher offers. You just need to make sure you do it right and arm yourself with the right information:

Here are a few things to consider as you prepare your offer when buying in a seller’s market:

Choose an Experienced REALTOR: In sports and in business, it’s important to have the best players on your team when facing fierce competition. In a seller’s market, that means choosing a real estate agent who not only has proven expertise in the neighborhoods you’re interested in but is also highly responsive and efficient. Make sure to use an Exclusive Buyer’s Agent that owes you a fiduciary and works in your best interest.

Demonstrate Credit Worthiness: You should get Pre-Approved for a home mortgage with a local lender before touring homes if you need to get financing. By obtaining a pre-approval for a mortgage before you start home shopping, you’ll know how much buying power you have. Your offer may have far more credibility than competing ones where buyers didn’t take this step.

Lower Your Expectations: When the inventory of homes is limited, you probably can’t afford to wait for the perfect house to hit the market. Prepare yourself to adjust your expectations. It makes the most sense to make exceptions to your criteria for things that can be changed. For example, you can renovate or add a bathroom someday, but you can’t change the home’s location or lot size.

Make your Best Offer first, be Ready to Bid: Make your best offer but be prepared for it not to be your final offer. High home prices can lead to home appraisals that don’t climb as fast, leaving lenders to not fund the loan. Home buyers should have money set aside the pay the difference between a contracted purchase price and the appraisal.

By Prepared to Make Concessions: Your relative lack of power in a seller’s market doesn’t just affect the question of price. It carries over to every other aspect of the deal, too. Shorten the inspection period, be flexible on closing dates; you should be prepared to accommodate the seller’s needs even if it is an inconvenience to you.

Don’t be that buyer who wants to wait until the weekend to view a home in a seller’s market. By the weekend, that home could be sold. Try to be one of the first showings. Sellers usually don’t enjoy having buyers come through their homes at all hours of the day, so most would like to see their home sold quickly. If you write a good, fast, and clean offer, your chances of acceptance are far better than those of a buyer who is unprepared or is unrealistic on price.

Finally, don’t get carried away with the pressure to buy, even in a seller’s market. Remember that a home decision has a long-term impact on your financial future. It may be better to let a house go than make a poor decision that’s expensive to change.

Filed under: Blog, Boca Raton real estate, contracts, downtown boca raton, Exclusive Buyer Agency, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Home Financing, Homebuyer Advice, House Closings, Real Estate, Real Estate Closings, Real Estate Investment, real estate news, Real estate trends, Relocation, South Florida Real Estate by Kim Bregman
Comments Off on Tips for Buying a Home in a Seller’s Market

Life After COVID-19? How Interior Design will Change

Spending months in quarantine has already dramatically impacted design, with new trends that will undoubtedly continue to resonate well into 2021 and beyond. The future of interior design will reflect the reality of a world that has been forever changed by incorporating cleanliness and materials to help to mitigate the spread of disease, floor plans that provide separate spaces for home-bound activities, and a focus on personal well-being.

Nature-starved homeowners have been craving what they’ve been denied of late, so expect to see an increased number of plants and lush indoor gardens, earth-toned color schemes, outdoor-style interior flooring, and even the occasional attached greenhouse.

Residences will no longer have a home office, but an office at home. Significant reconsideration of how we can create a beautiful, functional office at home will be designed and set up to accommodate full time satellite workplaces.

If you’re doing your part and social distancing from inside your home, you may start to notice small details of your house or apartment you hadn’t thought about before – like how to help keep your home as clean as possible during the corona virus outbreak. There are few materials that we can use that are more sterile than others and will be used even more in the future of design.

- - - Metals such as copper, brasses, and bronzes are natural antimicrobial materials that have intrinsic properties to destroy a wide range of microorganisms. Not only are these metals hygienic, but they are great accents to warm up your home.
    - A separate “casita” or guest house suite can be useful for isolating someone that may be ill, or to provide more distance and privacy for guests.
    - Office spaces and study areas are more necessary than ever. As more of us work (and learn) from home, a dedicated office and space for studying is essential. Many of us quickly had to convert areas and rooms to our own home offices – showing us the importance of a separate space. Homes with multiple areas for getting work done – offices, libraries, and study areas – will be even more popular in design.
    - Multiple areas for activities and entertainment, such as home gyms, media rooms, and game rooms will be necessary to keep everyone entertained. During this pandemic, we have found ourselves with a lot of time on our hands, so whether it’s a family game night or a workout, the need for a space for everyone at home has only increased.
    - There’s no doubt that the future of kitchen design will look different in a post COVID 19 world. First, we have been forced to alter the way we shop, store, and prepare food. Second, we have more time at home to get organized, tackle lingering projects, and sanitize our homes. Finally, we have had to change the way we interact and socialize with family, friends, and colleagues. More long term storage and larger freezer capacity are in demand. New kitchens will be designed with cleanability in mind. Low maintenance cabinet finishes, faucets, tile, and fixtures will be a top priority. Quartz is one of the hardest non-precious stones on earth, therefore countertops made from quartz are hard, stain and scratch-resistant, and the most sanitary.

Our living spaces greatly influence our physical health – as well as our emotional state of mind (especially during his time). So it will continue to be important to create environments that stimulate our senses in a good way, improve relaxation, and have health and wellness benefits to the people using them. Here are a few ways of living that will be popular.

Bringing in nature will be emphasized in many different ways. From larger windows with views outside and using colors that reflect the natural world. Having lots of greenery in a home is also an obvious and easy stimulant to our overall wellbeing (along with lots of health benefits).
An increase in organization. Being quarantined at home makes us realize what is really necessary. Clutter can cause anxiety and discomfort – feelings that are more unwanted than ever. Organization will be emphasized, through de-cluttering, smart storage, and built-in shelving and spaces for keeping items organized in smaller spaces.
A sense of security and calm will definitely be present in interiors. When the world is full of uncertainty, having a space that feels like an escape from the outside world, with soft and cozy materials, light colors and relaxing vibes, will be a prerequisite of design.

When it comes to colors this year, we’re seeing the return of earth tones in a wide spectrum, from cream to terra cotta. Expect to see decor that conveys softness, with plenty of light colors, especially pinks, beiges and other neutral tones, for a Zen look promoting rest, tranquility and well-being.

Nature continues its influential role in the world of decor. Vegetal hues have been in the spotlight for several seasons now, and this year we saw a lot of them, ranging from tender green to intense mint to peacock blue. Sky blue has brightened up the pastel palette.

Earth tones aren’t the only trend with staying power of late. While black is becoming less popular, blue has been replacing it. It’s a more versatile and emotionally indulgent hue well suited to sheltering at home.

Filed under: Blog, Boca Raton real estate, coronavirus, COVID-19, Down Sizing, Exclusive Buyer Agency, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Home decorating, home safety, Homebuyer Advice, Interior Design, Real Estate, Real Estate Investment, real estate news, Real estate trends, South Florida Real Estate by Kim Bregman
Comments Off on Life After COVID-19? How Interior Design will Change

Virtual Home Buying Made Easy!

Gov. Ron DeSantis enacted stay-at-home orders for Florida effective April 3, but the order considers real estate an “essential service,” so Realtors may continue to operate under limits set by CDC guidelines.

Under the issued Homeland Security guidance, “residential and commercial real services” are included on a 15-page list of essential services. These cover settlement services and government offices that conduct title searches, notaries, and mortgage and recording services, as well as construction. The advisory letter was created by the Homeland Security’s Cybersecurity & Infrastructure Security Agency.

Optima Properties is able to continue to service your needs as a Buyer.

Showings:

In-person showings are considered a health risk. We can

Zoom, Facetime, or Skype showings

Online Video Tours are available on active listings currently and more are being developed every day.

Contracts:

Digital Signing of all Contract Documents
Zoom, Facetime or Skype Contract Review

Deposits:

Wired Earnest Money Deposits
Following Wire Fraud Protection ( Voice to Voice Confirmation)

Property Inspections:

Electronic Delivery of Inspection Reports
Zoom, Facetime or Skype Inspection Review

Mobile Notary:

Mobile Notary and Virtual Closings Now Available

House Key Delivery:

Non Contract Key Delivery Service Post Closing

Please contact me for all your Real Estate Related Needs.

Stay Home and Stay Safe!

‌

Filed under: Blog, Boca Raton real estate, contracts, coronavirus, Exclusive Buyer Agency, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Home Financing, home Inspections, Homebuyer Advice, House Closings, Mortgage Information, Real Estate, Real Estate Closings, real estate news, South Florida Real Estate by Kim Bregman
Comments Off on Virtual Home Buying Made Easy!

How To Set Up A Home Office

I’ve spent more than three decades with a home office. When you work at home, even part time, you discover that a makeshift desk area on a kitchen counter or the dining table isn’t the best setup. Having a dedicated home office, even if it’s compact, makes a big difference in comfort and productivity. Having a dedicated space also serves as an important signal to those who live with you that you’re ‘at work’. Create boundaries within your home that your family members understand.

Stake Out Your Spot

You need to pick a spot in your home with the fewest distractions, and where all the essentials (like electrical outlets and your modem) are close by. Modern WiFi is a wonderful thing but understand it can still be inconsistent in even the most tech-friendly neighborhoods. I anticipate that our connectivity speed will be further degraded by all the streaming and game-playing that is happening now, in addition to everyone trying to work from home as well……be patient and see if you can upgrade to a higher speed with your home Internet provider.

Also, try to find a spot near a window with some natural light so you don’t feel completely tucked away from the world. Think about storage and try to keep work-only items grouped together. Think outside the file box to find an organizational system that works for you; see what you can use around your home. It’s more important to give everything that has been sitting out in piles a permanent home than it is to buy new containers. Here are a few ideas for organizing your home office:

· A grid of clipboards on the wall can make for a handy place to keep papers organized.

· Wall-mounted cups keep frequently used supplies neat and within reach.

· Cups and bowls borrowed from the kitchen make great desktop and drawer organizers.

· Labeled, open-top baskets on shelves are great for people who like piles

· Traditional files are still useful for important documents.

Set Ground Rules with the People in Your Space

Set ground rules with other people in your home or who share your space for when you work. I say “morning,” but not everyone who works from home follows a nine-to-five schedule. Yours might be a “getting started” routine at another time of day. I want my elderly parents to be able to call me anytime, but have reminded them that “after 6” is the best time to get my undivided attention. I ask other family members and friends to respect my work hours and stick with the less obtrusive email or text for non-emergencies.

Act as if you are “going to work”. Whatever your routine was when you were going to the office, try and maintain it now that you are working from home. Exercise, shower, get dressed (not pajamas), and then “go to work”. I try and avoid eating at my desk and taking a coffee break, lunch break, etc. Use these times to reconnect with other household members and address their needs and concerns.

Think About Your Back, Feet and Shoulders

Pick a back-friendly, ergonomic chair if at all possible and always make time for exercise (don’t forget to stretch!). I prefer to stand or walk around while I am on the phone but now that my husband is working from home as well, we find that this is distracting to one another. Go outside and get some fresh air while on that call.

Although you can easily work on a laptop from anywhere, an entire day, week, or even a month spent looking down at a screen is not going to do your neck muscles any favors. If you have the space and the budget, think about upgrading to a decent-sized computer monitor to plug your laptop into. I use two monitors so that I can multitask between emails, software applications required for my work, calendars, and more.

Most desks, chairs and monitors and still designed for the average sized man. I have made adjustments by ensuring that my monitors are at eye level. You can use boxes, books, magazines or anything you have around the house to easily accomplish this…no need to be purchasing special desks, risers, etc. If your chair is not adjustable, use pillows, etc. to ensure that you are sitting at the right height to keep your back straight. I have purchased an ergonomic cushion that provides comfort and support for my spine as well as adds two includes to my seat height.

Make Friends with Your Postal Worker or Delivery Person

Thank goodness for USPS, UPS and FedEx!!! These people get bonuses at Christmas for their daily deliveries to my door. I have always been an online shopper for convenience and time-saving and now that I am getting deliveries for food, office supplies and more the visits to my front door have increased ( still can’t find toilet paper however).

Take the time to let your local postal worker or delivery person in your neighborhood know you’re now working from home if your work involves a lot of envelopes and packages. I have made a point in the past to have a few daily words with the drivers that frequent my home. It helps when my local delivery person knows I’m working at home and sending and receiving envelopes and packages on a regular basis. In today’s world something as simple as leaving a note on your door explaining your situation will work and be appreciated. My UPS driver told me a couple of days ago that I can leave the package outside my front door with a note to pick it up or if I see him in the neighborhood to just hand him the box…..no need to go out to the UPS store!!!

Pump the Brakes with Social Media

Social media can be absolute poison if you don’t limit yourself. It’s definitely good to stay on top of the news during these uneasy times, but if you allow yourself to be sucked into endless posts, you might look up at the clock and discover you lost three or four hours of your day.

I enjoy social media and participate for both personal and work reasons, but I have learned to use it wisely. I check it before I head to my office with my morning coffee and then again at the end of the day. That doesn’t mean you can’t laugh at someone’s funny online story, or post about your favorite sports team or TV show. Just try to limit the damage during work hours.

Freshen up.

Give yourself a big pat on the back, because the hardest work is now behind you! Today is all about making your home workspace fresh and clean, so it will be a healthier, more pleasant place to spend time in.

· Vacuum your home office from top to bottom. Use an attachment to clean window treatments, high corners and fabric lamp shades.

· Wipe down shelves and surfaces with a damp microfiber cloth.

· Use monitor wipes to clean your screens.

· Use a keyboard cleaner to blow dust from between the keys or gently clean them with cotton swabs.

· Bring in some fresh plants to help clean the air.

Straighten up your home office before you are done working each day. Bring the coffee cups back to the kitchen and completely clear your desktop.

We are all anxious and a routine will help keep our life as “normal” as possible in these difficult times. Don’t be hard on yourself if you are not as productive as when in the office. Working from home is a mindset and a discipline and cannot replace a normal work environment. It takes time, discipline and commitment to find the right balance for your personal and family needs.

Filed under: Blog, Boca Raton real estate, coronavirus, Down Sizing, Exclusive Buyer Agency, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Home Buyer Advice, Home Buyers, Home decorating, Homebuyer Advice, Kim Around the Web, Real Estate, real estate news, Real estate trends, South Florida Real Estate by Kim Bregman
Comments Off on How To Set Up A Home Office

What Is Not Covered Under Standard Homeowners Insurance?

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 may require additional insurance or riders.

Wear and Tear Is Covered-Myth

Fact: Coverage typically includes damage from fire, weather and theft, not damage due to general wear and tear or neglect. As a policyholder it’s up to you to maintain your home, including making routine repairs and protecting your home from pests. If you neglect to take care of your property ( a leaky roof) you may not be covered.

You’re Insured in Case of Flood Damage, Earthquakes, Tornadoes and Hurricanes-Myth

Fact: Although some weather-related damage is generally covered, such as from hail, other storm related damage from wind or water may not be.

Floods require specific flood insurance from the Federal Government. Earthquakes might be covered, but sometimes they require additional insurance. Hurricane and tornado damage requires a separate windstorm policy. Sinkholes, mudslides and other earth movement (except in CA) requires a separate endorsement.

All Personal Belongings Are Fully Covered-Myth

Fact: Homeowners insurance typically covers furniture, clothing and other personal items, but more valuable items like jewelry and artwork may require an add-on policy. Homeowners should routinely inventory belongings to determine if policy limits meet their coverage needs.

You Have Protection Against Any Injuries That Happen at Home -Myth

Fact: Your policy’s liability coverage protects you if a guest is hurt in your home, but if a family member is injured at home, it’s normally covered by health insurance.

Home Businesses Are Part of the Package -Myth

Fact: A home business requires business insurance to cover property damage and liability; homeowners should consult with their insurance carrier or agent to be sure they’re fully covered from disasters large or small

You Can Rebuild For The Amount Of The Insurance Coverage-Myth

Fact: Unless you insured for “replacement value” you may be under insured to rebuild your home. “Ordinance of Law” exclusions may not cover to the changes to building codes and the additional costs of bringing the property up to code if damaged.

Overflows of back-ups from your sump pump, sewer or drain are covered-Myth

Fact: A standard policy does not include coverage for these issues and require a separate endorsement.

It may not seem like particularly interesting reading material, but it’s better to take the time to thoroughly understand what your insurance policy covers than to be stuck in a situation where you’re not sure when you really need it.

Filed under: Blog, Boca Raton real estate, Exclusive Buyer Agent, First Time Homebuyers, Flood Insurance, Florida Real Estate, Home Buyer Advice, Home Buyers, Home Maintenance, Homebuyer Advice, Homeowners Insurance, Insurance Claims, Real Estate, Real Estate Investment, real estate news, Real estate trends, South Florida Real Estate by Kim Bregman
Comments Off on What Is Not Covered Under Standard Homeowners Insurance?

Types of Movers for Home Buyers

Moving to a new house, city or state is one of the most stressful things a person can go through. Even when everything goes smoothly, you’ll likely be exhausted when all is said and done. Whether it’s down the street or across the country, moving is a major task that requires much effort and coordination. For this reason, many people choose to hire a moving company, but knowing who to entrust your belongings can be a daunting task.

While you do have the option of going the DIY route when moving, things will be so much easier and more convenient for you if you hire professional movers instead. You’ll incur certain costs by doing so, but the help they can provide is worth it.

It’s also a common mistake to hire the first moving company you lay your eyes on in an ad. There are so many moving companies out there, but not all are created equal. The movers you should hire are legitimate ones with licenses, insurance and other vital considerations. You should also get quotes from at least three movers to determine the best deal. Ask for references and verifying credentials. And remember to never pre-pay for a move!

Local Movers

There are many kinds of moving companies depending on the type of move you’re looking to make. Some companies specialize in local moves and will have limitations on the distance they’re willing to travel. Local movers are great for small cross-town moves since they typically charge by the hour.

Long-Distance

If you’re moving across the country, you’ll want to find a long-distance mover. These movers have special licensing that allows them to operate across state lines and they typically charge a bulk rate based on how quickly you need to be moved and how many items you’ll be moving. In some circumstances, you may even need to move out of the country. International movers will help you pack and get your items overseas. These moving companies are usually prepared for immigration and customs issues.

Full-Service

If you want a completely stress-free move, you should consider a full-service moving company. These companies take all the hassle out of your move by disassembling and packing up your old house and then unpacking and reassembling everything in your new place. Additionally, they provide all of the materials so you don’t have to worry about how much tape you’ll need or what size boxes to get.

Filed under: Blog, Boca Raton real estate, Down Sizing, Exclusive Buyer Agent, First Time Homebuyers, Florida Real Estate, Foreign Home Buyers, Home Buyer Advice, Home Buyers, Homebuyer Advice, International Home Buyers, International investors, Real Estate, real estate news, Relocation, Retirement, South Florida Real Estate by Kim Bregman
Comments Off on Types of Movers for Home Buyers