Treasure Coast Real Estate Blog

Aug. 17, 2019

Waterfront and Club Community Rental Restrictions

Do Rental Restrictions Benefit Your Community?

Our team has been prolific Stuart, Florida based Realtors since 2003, marketing and selling properties along the Treasure Coast and Palm Beach real estate corridors. We specialize in high-end Martin County club communities, waterfront communities, and second-home communities.

HOA Rules and Regulations

Today’s buyers and sellers are expressing more interest in community rental restrictions than ever before. The popularity and exposure of Air BNB, VRBO, and similar vacation rental sites have made community rental policies a controversial topic.

Our experience confirms that rental limits have proven to be in these communities' best interest. These are the homeowner association policies that typically restrict rentals to only once or twice a year, with a three-month minimum rental period, and 650 or higher tenant credit scores.

While limiting rentals benefits the community, short-term and Air BNB rentals often reflected in the prohibitive language of those policies causes problems and concern among owners who need to sell in a challenging market. That said, addressing transient rentals separately from traditional annual or seasonal leasing offers owners more options when it comes to selling their home.

  1. The demographic of renters and their guests attracted to Martin County upscale waterfront or club communities will pay $21,000 or more for a three-month seasonal rental. They often end up purchasing in that community. These renters and buyers help to keep homes off the for-sale market, which limits inventory and maintains property values.

  2. In soft markets, sellers have options other than having to sell at a distressed price. Rental options allow the owner to keep their home and wait for a better market.

  3. The residents of most high-end communities tend to be older. Sudden unexpected reasons why homes need to sell are more common. Owners that plan to leave their homes to relatives are often disappointed because without the option of renting family members are often forced to sell at a distressed price.

  4. Purchasing vs. renting a second home is expensive even for buyers financially sound, considering tax’s, HOA fees, insurance, and general maintenance.

Although we have never lost a sale in a community that had a limited rental policy, we've lost quite a few sales when a community either had aggressive Air BNB or no rentals at all policies.


For buyers looking to purchase a Florida waterfront home where properties remain undervalued, we STRONGLY believe Martin County’s Hutchinson Island represents an exceptional opportunity. Unlike Dade, Broward, or Palm Beach Counties, Martin County still has gated waterfront homes with wide-water views, backyard docks, and private beach access for under $500 per square foot. The golden rule in real estate has not changed. Buyers determine value based on location, location, location, and the scarcity of inventory. A wide-water view, beach access, sunrises, sunsets, and an island lifestyle is becoming irreplaceable.

 

Contact Us to schedule a free consultation. Whether buying or selling a home, we are always happy to meet with you to discuss your wants and needs, no obligation.

 

Eric Slifkin, a Broker Associate, is the founder of the Slifkin Team at Keller Williams Realty. Eric and his team of experienced agents serve South Florida and the Treasure Coast, including  Stuart, Port Saint Lucie, and the Palm Beaches.

 

Posted in FAQ's, Home Ownership
July 19, 2019

Is Buying A Home Right Now A Mistake?

Thinking of buying a home this year? Our latest article addresses every “What if?” so you’ll know if you’re making the right decision.

Is Buying A Home Right Now A Mistake?

When you see all those “for sale” signs pop up in your neighborhood — and then see them change to “under contract” shortly afterward — it’s easy to feel like you’re missing out if you’re not buying a home this summer. So, you run the numbers, spend nights scrolling through listings, and start to imagine your new life in your dream home.

There’s just one thing: you may not be ready to buy a home right now. While most real estate agents point to a hot market (and still low-interest rates) as an excellent reason to start making offers, more factors go into this big life decision. The real estate agents that automatically tell you that NOW is the right time to buy a home can’t know that without knowing the specifics of your situation.

Before going down a long and stressful journey, let's go through some scenarios that might help you decide if it's the right or the wrong time for you to buy a home

You have to get very creative to afford a down payment.

Let’s face it: Saving enough for a 20% down payment on a home can be a daunting challenge. While many loans allow for lower down payments, these also often come with “hidden expenses” that add to your monthly mortgage costs such as private mortgage insurance (PMI) or higher interest rates. While every homeowner-to-be anticipates making sacrifices to afford their home, you don’t want to be in a position where affording your monthly mortgage payment requires serious hardship.

Also, your monthly mortgage payment isn’t the only expensive line item in your budget: you’ll need to be able to afford maintenance, furniture, and emergency repairs big and small.

Your friends are all buying homes, and you feel left out.

This one is big. When everyone else is buying new places, it’s easy to fall down the spiral of judging yourself because you’re not doing the same. However, the grass may seem greener on the other side of that “sold” sign. Your friends may be showing off their new digs, but not telling you how they’ve had to put off going on vacation for at least a decade to afford it. Or, they may be able to afford it, but they’re not the ones who will be paying your mortgage. Don’t fall for peer pressure if your current place fits your needs right now.

Everyone keeps telling you you’re “throwing money away” on rent.

You do indeed build equity after you buy a home, but it can take years before you see an effect on your net worth. If you need to move (for work, a relationship, family, or because the home doesn’t suit your needs) before you have positive equity in your home, then you won’t enjoy the boost in net worth. If you value flexibility more at this stage in your life, then renting makes more sense. You can build your net worth in other ways too, like contributing to a savings account, 401k, or other investments.

You have no idea what your current home is worth.

Sometimes the market is just not in your favor right now, and there might be little changes you can make that can increase the value of your current home. Get a free and accurate home value report from one of our team members if you're unsure or haven't checked your home's value in a while.

You’re focused on the style of the home rather than the lifestyle of homeownership.

You’ve passed by a particular home a dozen times and find yourself looking through the listing photos more often than you look at pictures of your family and friends. You’ve mentally re-decorated and decided just where you’ll put your sofa. Fun, right? Now imagine waking up at 7 AM on a Saturday to mow the lawn, fix the toilet in the master bathroom, and find out what’s making that creaking noise in the attic. Or, having to cancel your weekend get-together with friends because your water heater decided to stop working and a repair person can’t get there until later in the week. Not as fun. Home maintenance is an ongoing project filled with unglamorous tasks that you may not be ready for just yet.

Your dream home will significantly add to your commute.

While you may not think you’ll mind that extra hour on the road each way to have a garage to call your own, you'll likely feel differently after the novelty of the new home wears off. Though there are always trade-offs with homeownership, one involving location requires a huge life change — so it isn’t one to take lightly or rush into, especially when it comes to moving to a drastically different kind of area or any time you also have to consider a change of school systems.

The very idea of moving makes you panic.

Even if you can afford the down payment, have leftover money for emergencies, are okay with the lifestyle change of homeownership, and have found a new home that offers way more than your current place, you still may not be emotionally ready to buy a home. Something to consider: if you’re feeling anxious or overwhelmed about the idea, or it’s causing conflict with your significant other, a timeout may be needed. Pick a date in the future to revisit the idea of buying a home, then see how you feel. If your gut says you’re ready, get in touch with a real estate agent who will find you a home that’ll make you excited to make the big move.

While we tried to point out every scenario we could think of, we may not have mentioned your situation.

We know everyone has different concerns and personal circumstances.

If you’re still unsure if you’re ready to buy or have questions about what the process will look like for you, we’re prepared to walk you through every step of the process whenever the time is right for you!

 

Contact Us to schedule a free consultation. Whether buying or selling a home, we are always happy to meet with you to discuss your wants and needs, no obligation.

 

Eric Slifkin, a Broker Associate, is the founder of the Slifkin Team at Keller Williams Realty. Eric and his team of experienced agents serve South Florida and the Treasure Coast, including greater Stuart, Port Saint Lucie, and the Palm Beaches.

 

July 4, 2019

Treasure Coast Home Finder

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Find the perfect home in the perfect place with our pre-built county searches.

Get the facts on Treasure Coast real estate, top neighborhoods, and market trends working with a team of licensed real estate experts who will provide all the assistance you need throughout the home buying process. We service over 250 neighborhoods, communities, and subdivisions throughout the Treasure Coast and Palm Beach County.

Click on a county below to begin your search.

 

Eric Slifkin and his team have been meeting the real estate needs of their clients since 2003. We offer a turn-key approach to purchasing or selling real estate along the Treasure Coast and Palm Beach real estate corridors. Using our Website, you can research local communities or sign up to get notified when we find new listings that suit your tastes! We'll even inform you of changes and price adjustments to your favorite properties as they occur.

Contact Us to schedule a free consultation.  Whether buying or selling a home on the Treasure Coast we are always happy to meet with you at one of our five convenient locations to discuss your wants and needs, no obligation.

Our ability to connect you with what's happening in our local markets is something that you won't find anywhere else. Whether buying or selling, we are always happy to meet with you at one of our five convenient locations to discuss your needs, no obligation.

June 24, 2019

Get listings (not on Zillow or the MLS)

Get Access to Listings Before They Hit Zillow or the MLS

Imagine how it would feel if someone else bought your dream home because they saw it first... If you don’t want that to happen, we created an exclusive email list you can join to access listings before they hit Zillow or the MLS.

Click here to become one of our insiders

 

June 12, 2019

Your Home’s Value is Wrong!

Get Your Home's Accurate Value

Getting your home’s value from a robot or an algorithm is fine until you need an accurate report. It is kind of like searching for your symptoms on WebMD. It's ok until you actually need a doctor.

There are many sites that you can use to get your home’s value, but unfortunately, they’re not as accurate as you may think. The sites even state (in the fine print of course) the need to supplement their reports with a Comparative Market Analysis from a real estate agent:

“We encourage buyers, sellers, and homeowners to supplement Zillow's information by doing other research such as getting a comparative market analysis (CMA) from a real estate agent" -Zillow.com

So, to get your home’s accurate* value, click here.

How is our estimate different from a Zestimate and other online services?

Instead of a robot and an algorithm, we use our experience and up-to-date MLS data. A human being will prepare your report, and due to that, it won't be "instant," but it will be accurate.

Our home value reports are all researched thoroughly and made possible by years of experience and local expertise. Estimates from Zillow, OpenDoor, Redfin, or any online home evaluator using an algorithm is not a valid replacement for a comparative market analysis from a real estate agent.

Getting an "instant" home value is appealing and not having to talk to someone is attractive, but there's a cost to that approach. Instant doesn't mean accurate. When something is as important as the value of your home. Eric Slifkin, a Broker Associate at Keller Williams Realty, will personally prepare your report. "He guided me through every step of the selling process with knowledge and understanding. I am a first-time seller, so he was patient with all my questions as well." Get Your Report Now

Get Your Home's Value

Posted in Home Selling
May 27, 2019

11 Things Your Real Estate Agent Must Be Doing

11 Things Your Real Estate Agent Must Be Doing

Doing the bare minimum simply isn't enough anymore. Make sure your real estate agent does these 11 things to market your home.

11 Things Your Real Estate Agent Must Be DoingDownload Checklist


Have specific questions about selling your home? Schedule a call.

Why Marketing Matters

Smart marketing sells homes, and these statistics are just a few examples of why we place so much importance on the strategy we use to sell your home. Source: PsPrint

Ready to give your home the attention it deserves?


Schedule a call to learn more about how we sell homes on the Treasure Coast.

 

Posted in Home Selling
March 29, 2019

Knowing When to Sell

Is Selling Your Home Right Now A Mistake?

Eric Slifkin

Eric Slifkin, a licensed real estate  professional since 2003, is the founder of the Slifkin Team at Keller Williams Realty...

Mar 26 6 minutes read

Ask any real estate agent how the market is, and you’re almost sure to get the same answer: “Great!”

Even if the market is great, it still may not be a great time for you to sell. Many real estate agents will tell you that NOW is the right time to sell your home when in reality, they can’t know that without knowing the specifics of your situation. Before going down a long and stressful journey, let’s first decide if selling your home right now is a mistake.

What’s true about relationships is also true about selling your home: When it’s time to make a big decision, go with your gut feeling. But like anyone who has ever put off a breakup, it’s amazing how easy it is to talk yourself out of what you really want to do. You’ll say you’ll get around to addressing the ‘80s curb appeal, that you can live with your shoebox-sized closets, and you don’t mind that the location limits your job opportunities. Really, you’re fine.

Yet, you still can’t shake the feeling that it’s time to go. Though there are many ways to justify staying put, some of the most common doubts can be particularly persistent — and some may even masquerade as logical reasons.

Here’s how to identify these hang-ups so you can finally move on and own the home you truly want:

“What if my home ends up being worth more a year after I sell it?”

Markets are about timing — yours could be on an upswing and selling could mean you’re missing out on receiving more for your home later. However, markets can also just as dramatically swing the other way, just like they did in 2008. The lesson? You can’t really time the market. Instead, focus on easy (and inexpensive) tasks in your control that can help your home sell for more whenever the time is right. Decluttering, painting your rooms neutral colors and even cleaning up your yard can sometimes bring a home’s value up regardless of what the market is doing.

“I don’t qualify for a different home.”

If your credit has gotten worse, you’ve spent all your savings on the home you’re currently in, or your financial situation is just tight overall, it might be a mistake to sell your home right now.

This is one of the trickiest thoughts about selling because it seems reasonable. You know your budget and you’ve probably even looked up what homes have been selling for in your neighborhood. But after researching, you honestly know you just don’t qualify for a new mortgage right now and would have to go back to renting if you did sell.

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“My friend who’s a real estate agent told me I should sell now.”

Working with close friends and family may not be the best decision. At first thought, it seems like a great idea because they know you, your current situation, and you can (in most cases) trust them. But imagine what it will feel like five months from now when your home is still on the market with zero offers...

Take time to think hard about who you’re hiring to sell your home. If your friend or family member feels like the best decision for you, go for it. Working with the right real estate agent can take the stress out of the selling process. That said, treat this decision like you would for anyone else who would provide a service for you and take the time to interview other prospective agents.

This can help you screen the ones that may not be the best fit for your personality or even your home (especially if you have a unique property such as a vintage home). Focus your questions on their past experiences selling in your area, how long they’ve worked in your market, how well they know your neighborhood, and if they have worked with sellers who have similarly valued homes to yours. From speaking with several real estate agents (some you already knew and some you didn’t), you’ll also get a sense of how they communicate and if you’ll “click” during what can be a stressful process no matter who helps you.

"Working with the right real estate agent can take the stress out of the selling process. That said, treat this decision like you would for anyone else who would provide a service for you and take the time to interview other prospective agents."

“I have to make a lot of costly repairs before I can sell my home for as much as I would like.”

Depending on the age of your property, your agent may suggest making a few repairs in order to command the highest price. The extent of repairs needed often has to do with the comparable homes in your area for sale. For example, if there’s a home exactly like yours on the market, but that one has a brand new roof, the agent may suggest replacing yours. But, you don’t necessarily have to make expensive repairs if you don’t want to — you could sell your home as-is. Some buyers like the idea of updating and customizing a property to exactly suit their needs. Others do not want to incur costly repairs on day one.

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“I’m afraid to start over in a new location.”

This is often the underlying fear when you have doubts about selling and moving to a new location. Even if you’re staying in the same town, your block will be different, your proximity to places like the grocery store or gym will change, and you’ll have to go through the process of getting to know new neighbors. Is it a change? Yes. But, it’s not one you wouldn’t get used to. If you’re moving to a new city, the transition is obviously a bigger one. Look at it as an adventure. It’s a chance to start fresh, meet new people, find new favorite restaurants, and maybe even start a new career.

Whenever you are ready to sell your home, I would love a chance to earn your business and hope you found our honest approach to advising our clients refreshing.

Still unsure if selling is a mistake? Contact Us to schedule a free consultation. Whether buying or selling a home, we are always happy to meet with you to discuss your wants and needs, no obligation.

Eric Slifkin, a Broker Associate, is the founder of the Slifkin Team at Keller Williams Realty. Eric and his team of experienced agents serve South Florida and the Treasure Coast, including greater Stuart, Port Saint Lucie, and the Palm Beaches.

Posted in Home Selling
Feb. 3, 2019

Heritage Enclave Townhomes in Hobe Sound, Florida

Discover Heritage Enclave

50 Well-Appointed 3 and 4 Bedroom Townhomes in Hobe Sound, Florida

 

Posted in Neighborhoods
Feb. 2, 2019

Discover Joe's Point in Stuart, FL

Waterfront Homes and Club Communities

Joe's Point

Joe's Point affords waterfront living in a private setting yet is just minutes from historic downtown Stuart and all the area has to offer. Come home to a secure gated community with only 49 residences situated on a private peninsula. Neighborhood amenities include a gated entrance with a winding landscaped drive, tennis, R/V and boat storage, community dock, and private beach with gated access.

Featured Property

Updated Beach House With all the Extras

This contemporary bi-level pool home is designed for entertaining with upper and lower level living areas, 4 bedrooms, 4 1/2 baths, and a professional Viking kitchen.

Joe's Point

Enjoy wide water views from the expansive deck, relax on your own private beach, or fish from the deeded dock complete with utilities and a 16,000 LB lift.  Learn More

 

Contact Eric Slifkin

 

Eric Slifkin, a Broker Associate, is the founder of the Slifkin Team at Keller Williams Realty. Eric and his team of experienced agents serve South Florida and the Treasure Coast, including greater Stuart, Port Saint Lucie, and the Palm Beaches.

 

Posted in Neighborhoods, News
Jan. 31, 2019

3 Easy Fixes to Improve Your Listing

Improving a "Flawed" Property

Easy Fixes to Improve Your Listing

As listing agents, we always solicit feedback from other brokers who show our properties. Contrary to what you might expect, when a buyer "passes" on your house, the reason often has more to do with first impressions rather than the home's features. Here are our top three buyer turnoffs that can be easily fixed to help get your home sold faster and for more money:

Flooring Issues

Marred wood flooring, worn carpeting, and outdated linoleum can be a huge turnoff. Buyers might take one step inside and scratch the property from their list.

Pre-existing Water Stains

Leftover water stains from old plumbing issues may mislead buyers into thinking a problem still exists. Ensure that the problem indeed is fixed, and then make any needed repairs.

Nasty Looking Grout

Discolored or cracked grout can be a turnoff- new grout can make old floors look revived.

Ask your Realtor to critique your home and point out conditions that need to be corrected. Repairing or replacing items of concern often result in a quicker sale, for more money, while recouping the cost of repairs at resale.

 

Contact Eric Slifkin

Eric Slifkin, a Broker Associate, is the founder of the Slifkin Team at Keller Williams Realty. Eric and his team of experienced agents serve South Florida and the Treasure Coast, including greater Stuart, Port Saint Lucie, and the Palm Beaches.

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