Everybody Deserves a Great Deal! Get Expert Tips on How to Find the Right Deal for You.

A Google search isn’t going to cut it. Finding a great home deal requires some expert sleuthing. In addition to a valuable partnership with a real estate pro, here are some tips that can put you on the right track.

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• How to Find What's for Sale
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Eric Slifkin, a Broker Associate, is the founder of the Slifkin Team at Keller Williams Realty. Eric and his experienced agents serve South Florida and the Treasure Coast, including  Stuart, Port Saint Lucie, and the Palm Beaches.

Make Sure You Are Clear on What's Covered

A builder warranty applies to newly-built homes and is offered by the builder or a third party working with a builder. Many home builders include a warranty on their work in the sales contract, or they might make it a separate document. Not all builders offer a warranty, so it's important to do your due diligence when looking to hire a builder.

Canopy Creek, Palm City

If you get a warranty, you need to go over it to make sure you're clear on how long the coverage period is and what you should do if you experience a problem. It would help if you also were clear on the maintenance requirements you need to keep up with or void your warranty.

The Department of Veterans Affairs and the Federal Housing Authority require builders have a third-party warranty for new homes with VA or FHA loans. Having a builder warranty is sometimes what compels people to opt for new construction versus buying a newer home, but you must read the fine print on the coverage.

What's Covered?

A warranty for a new house is usually pretty limited in its scope of coverage. Warranties define coverage for workmanship and materials related to different home parts like the heating, air conditioning, and electrical systems. Most warranties also dictate how repairs are to be made.

New homeowners often think that once the home passes inspection, that means everything is good to go. The fact is, there can be many problems that arise in new homes due to defective materials, landscaping issues, or foundation settling. Issues like these can be tough to notice until you‘ve actually lived in the home.

The coverage period for materials and workmanship will usually last anywhere from one to two years. For the major structural components of a home, there may be coverage lasting up to ten years.

Most new construction warranties don't cover household appliances, nor would they cover things like a small crack or the cost of having to move out of your home while repairs are being made.

Specific exclusions that are common in builder warranties include:

• Damage stemming from your own neglect or misuse
• Deterioration that would be considered normal, like shrinkage falling within industry standards
• Damage caused by outsiders like vandals or "acts of God."
• Any consumer product that is covered by its own warranty, like a refrigerator

Warranties and State Laws

Some states have strict laws about what builders have to provide in terms of warranties. If you aren't sure, you can talk to the contractor licensing board in your state or even the Attorney General Office to figure out what's required. Many states have either already done so or are in the process of increasing the duration of coverage from one to two years for workmanship and materials issues.

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

What Buyers Should Ask When Considering an HOA

An HOA or Homeowner Association is a legal entity created to manage and maintain the common areas. These "common areas" may consist of pools, clubhouses, landscaping, parks, streets, and roads.

HOAs are typically set up with a set of rules called "Declaration of Covenants, Conditions, and Restrictions," otherwise known as "CC&Rs." One of the primary functions of the HOA is to enforce and ensure that these "CC&Rs" are adhered to by the individual homeowners.

Helpful questions to ask when buying a house governed by an HOA:

1. How much are the dues, and what is the history of increases?
2. Is building insurance included?
3. What are the insurance specifics, and what insurance will you be required to carry (if any)?
4. Are there HOA budget reserves for repairs? Also, look at maintenance contracts like landscaping, security, etc.
5. Do they look reasonable to you? Is one of the HOA members also one of the contractors?
6. If you haven’t already—find out how much the transfer fees and capital reserve requirements are when you close and negotiate to have the seller pay for them (unless you have already agreed otherwise).
7. Find out how many units are owner-occupied versus rented out. The HOA will know this. If it’s higher than about 10 percent rentals, you may want to consider that in your purchase decision.
8. Check out the HOA's rental policies. The time may come when you may need or want to rent it out.
9. Find out the current status of all the membership dues. How many units are in the HOA, and of that, how many are past due, and by how much? Try to obtain the minutes from the previous year's HOA meetings. Read them to see what they discuss, which will tell you how picky they are and what type of violations spur actions against residents.

Our team has been prolific Stuart, Florida-based Realtors since 2003, listing and selling properties along the Treasure Coast and Palm Beach real estate corridors. We service over 250 communities and subdivisions, including club communities, waterfront communities, second-home communities, condos, and townhomes.

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

If you have plantation-style shutters in your home, then you likely know they can be a pain to clean. With so many surfaces, corners and cracks, it can be hard to really get in there and wipe away grime and dust that builds up. Whether you have shutters on your closet doors or windows, below is a five step system for getting them squeaky clean. 

Dust first. If you have a duster, run it between your shutter panels to uproot dust and dirt particles. The longer it’s been since your last cleaning, the dustier your shutters are likely to be.

Vacuum. If you have a small, narrow attachment for your vacuum cleaner, pop it on and suck up the dust you stirred up with your duster.

Wipe. Using a clean cloth or rag, wipe down your shutters. By now, they should be looking pretty good.

Detail. Use a toothbrush to get into the shutter hinges and cracks for a thorough cleaning.

Polish. Rub down your shutters with furniture polish to give them a sleek shine. Try to avoid soap and water on your shutters. Over time, this type of cleaning can warp the wood.

When it comes to property investment, timing is everything. Ultimately, choosing the right time to enter the market will significantly impact your investment's long-term success.

But how can you as an investor know whether the timing is right? Global property portal Lamudi has compiled a list of 10 tell-tale signs that now is the time to start building your investment portfolio.

1. You are financially ready. You have saved enough for the down payment, and you have also established your emergency fund. You have taken into account home maintenance expenses. Your credit history is good, and you can meet all the financial obligations.

2. You have set your long-term goals. You have a clear picture in your mind of your investment's purpose, and you are flexible enough to adjust to changing circumstances. You are not hesitant, and when the timing is right, you can adapt to the market needs and the development of technologies.

3. You have done your research. You know your future property's neighborhood well enough to foresee the coming trends and possible community changes. You have researched all the schools in the area and the best commuting means, and you can predict the next homebuyers needs.

4. You have chosen a stable economy. The area is financially stable, economic trends are promising, and equities are surging. No demographic fluctuation or irregular variation of the population has been recorded in the area.

5. You understand the country’s policies regarding real estate. The region's policies promote and encourage a positive, innovative environment and drive further economic growth. The tax policy in the country is positive for homeowners. The global innovation index is rising in the area.

6. Infrastructure projects are underway and likely to lead to an increase in property values. The area's infrastructure is being developed to focus on transport, energy, solid waste, and water management developments.

7. The region is moving toward sustainable development. The region’s awareness of global and local environmental issues increases and the demand for eco-friendly homes and sustainable rural and urban development is rising. As more and more people head toward sustainable living, investing in sustainable property will increase its value in the future.

8. The location draws a lot of interest. Whether it is the best travel destination or the hot jobs spot, the location is always on the top of the search engine. It has become a successful startup hub already or is planning to do so in the coming years, driving many job seekers into the area. The number of enrolled students is increasing every year; the area draws interest in international students.

9. You have found a reliable real estate agent. If you are an overseas buyer, it is particularly crucial to make sure you have a good representative on the ground. Your real estate agent is trustworthy and knows the local market well enough to help you make a choice.

10. You have researched local differences in the property market. Whether you plan to invest in residential property and turn it into a rental or office space, you are fully aware of all cultural differences that might occur when dealing with a property seller.

Source: Lamudi

Reprinted with permission from RISMedia. ©2015. All rights reserved.

How a Real Estate Agent Can Help When Buying From a Builder

Q: Do I need to hire a real estate agent to represent me when I buy a new home from a Treasure Coast new home builder?

A: Legally, no. But if you donʼt, you might be missing out on some tangible benefits that impact your wallet and how much you get for your money. There are many reasons why an agent is a sound investment during the purchase process with a builder. While some of them can be quite complex (and go beyond the scope of this blog post), here are a few highlights:

Market Value Compared to Purchase Price: How much money are you going to be able to come out of pocket for your down payment? If you donʼt want a nasty surprise when it comes to disparities between your agreed-upon purchase price and the actual market value of the home, youʼll want an agent with access to information that will help you accurately assess the true value of that brand new home.

Negotiation Power: Real estate agents are professional negotiators, and often an agent can get more from a builder than you would on your own. While some might be related to purchase price, other perks may include property or home upgrades.

Financing: Itʼs probably no surprise that your builder will have preferred financing partners to work with. Many of those “partners” pay good money for the opportunity to handle your loan. But is it the best loan at the best rate? An agent can be both a sounding board for financing terms and a source for trusted alternatives.

Contract Expertise: While your real estate agent isnʼt an attorney, they know a great deal about the ins-and-outs of property contracts. This includes builderʼs contracts, which may have provisions that put you in the dicey territory should something unforeseen happen. Protect yourself with an agent.

These four reasons are a good place to start, but there are plenty more. The bottom line is: The builder will have their own system to maximize their profit and minimize their costs. Shouldnʼt you? Iʼm is more than happy to help you buy from a builder.

How Local Economic Factors Impact Stuart, Florida Home Values

How do you predict the value of a neighborhood? While no one can say for sure how home values in a neighborhood will rise or decline over time, there are big-picture economic factors that you can look for to help get a handle on where they may be going.

1. Major regional employers. If a community depends upon one or two large companies for a high percentage of local employment, you can bet that as the company fares, so will the neighborhoods. While "company towns" are hardly the norm these days, don't overlook the possibility.

2. Number of properties currently for sale. Sometimes there's nothing wrong with a neighborhood just because the inventory (i.e., number of homes on the market) is high. Other times, something may be amiss. If you see street-after-street of "FOR SALE" signs, ask questions.

3. Major construction. Is that a new school they're building, or is it a supermax prison? Did they clear that land for a new shopping center, or is it a new loop for the interstate? Certain types of construction can improve home values while others can hurt. Getting in touch with the local planning commission and the local newspaper's business section (or website) can help illuminate what's behind those bulldozers and cement mixers.

4. Rental density. People who own the homes they live in intend to take better care of them. Also, it's preferable to have long-term neighbors versus high-turnover tenants. Absentee landlords or seasonally rented properties can also be a drag on a neighborhood. Get a feel for the rental density and the direction it's heading. Rental density matters.

5. Environmental conditions. One industrial accident that poisons a water supply is enough to annihilate home values. How susceptible is the region to extreme weather? Don't rule out environmental liabilities or benefits.

Nobody's crystal ball is perfect, but to ignore major macroeconomic factors is dangerous. Even if you're only planning on staying in a location for 5 - 7 years, do yourself a favor and try to position yourself to make, not lose money, on your home with these tips in mind.

Closing day has arrived but you haven’t found a place to move to? Option to help avert costly legal issues.

Pitfalls to Avoid When Selling and Buying Houses Simultaneously

By Meredith Caruso

Some homeowners jumped into today’s hot sellers’ market, fielded multiple offers, got top dollar, and signed contracts within 48 hours. At the time, they may have considered their next home selection “a bridge we’ll cross when we come to it.” But sometimes there’s no bridge.

ORLANDO, Fla. – 2020 was a heckuva year. Everyone’s daily routine had to be adjusted thanks to the pandemic. One thing that remained solid, however, was the real estate industry. The market, in a word, is HOT.

While this is a good thing, to be sure, our Legal Hotline has received an uptick in calls regarding sellers who eagerly list their home to get top dollar – but then, come closing day, they haven’t found a place to move. This can only lead to costly legal issues, which we all want to avoid.

So how can you help avoid this problem? I’ve said it before, and I will repeat it: PLAN.

I get it, as an agent, securing a listing is “having a great day.” But in a time when properties are on the market less than 48 hours after several competitive offers come in, it’s important to have a frank discussion with your sellers about their plans. Do they have eyes on another property? What do they intend to do – buy or rent? Are they moving out of state? Do they have an agent they’re actively working with to find a new home? How far along in the process are they?

When should these questions be asked? I’d wager that they should be asked when the listing is taken and not 25 days into a contract.

Unfortunately, some sellers may be so pumped about the hot market and getting the best offer that they aren’t thinking about their long-term plans. As a listing agent, you should be incorporating these types of questions when you are taking the listing, so you are on the same page as the seller.

If you’re representing the buyer, I’d suggest communicating regularly with the listing agent regarding the sellers’ progress on moving out. Schedule your walk-through to occur the day before or the day of closing, and schedule it well in advance.

Sure, some alternatives might work in the event the seller is unable to find a new property to move to – however, those alternatives all involve the parties' cooperation. A seller may get a specialized lease drafted that provides for the seller to rent back the property from the buyer until a new property is located. The parties can also agree to an extension of the closing date – but this may not work with buyers who are financing their purchase if the lender increases any loan costs due to the closing delay.

Of course, both are more viable options if the sellers are already under contract on a new home or need a few more days to move out. The sellers who have no clue where they’re going? They may have a battle ahead.

So, at the risk of beating a dead horse, here is we're taking some time in advance to map out the sellers’ intentions can negate a panicked call to the Legal Hotline when, two days before closing, you realize the sellers don’t intend to leave because they don’t have anywhere to go.

Meredith Caruso is Associate General Counsel for Florida Realtors

© 2021 Florida Realtors®

If you’re considering buying or selling a home before the new year or in early 2021, contact us now to schedule a free consultation. We’ll work with you to develop an actionable plan to meet your goals.

We recently surveyed several hundred real estate professionals and industry experts to determine the top home buying tips they would actually recommend to their clients.

More Tips

Get a Home Inspection

91.4 percent of agents say this is a very important tip.

0.54 percent of agents don’t recommend this tip.

The tip: Get a home inspection to evaluate the safety and overall condition of your new home, even if it appears flawless.

Get Preapproved for a Loan

89.0 percent of agents say this is a very important tip.

0.78 percent of agents don’t recommend this tip.

The tip: Before you start house hunting, get preapproved for a mortgage loan.

Communicate Through Your Agent

89.0 percent of agents say this is a very important tip.

0.27 percent of agents don’t recommend this tip.

The tip: When you want to ask or tell the seller something, always go through your real estate agent.

Put the Deal Into Writing

87.5 percent of agents say this is a very important tip.

0.83 percent of agents don’t recommend this tip.

The tip: Get the seller to put every component of the deal and any verbal agreement into writing.

Include Contingencies With Offer

83.0 percent of agents say this is a very important tip.

0.78 percent of agents don’t recommend this tip.

The tip: Include important contingencies, such as financing and property inspections, with your offer.

Develop a Wish List

82.4 percent of agents say this is a very important tip.

0.27 percent of agents don’t recommend this tip.

The tip: Come up with a realistic wish list. Find out what you can afford in terms of house size, neighborhood and amenities.

Know Your Local Market

75.6 percent of agents say this is a very important tip.

1.7 percent of agents don’t recommend this tip.

The tip: Know as much about the local market as you can. Use your agent’s CMA to learn about the selling price of comparable homes and the strength of the local real estate market.

Prioritize!

68.5 percent of agents say this is a very important tip.

1.11 percent of agents don’t recommend this tip.

The tip: Decide what’s most important to you before the negotiation so you know what parts of your offer you’re most comfortable giving up.

Look Into Government Programs

57.7 of agents say this is a very important tip.

1.36 percent of agents don’t recommend this tip.

The tip: Look into programs for first-time homebuyers. See if you qualify for the lower interest rates, low down payment options and down payment assistance programs some banks and governmental organizations offer first-time homebuyers.

Research Real Estate Agents

54.7 percent of agents say this is a very important tip.

7.61 percent of agents don’t recommend this tip.

The tip: Don’t just work with the first real estate agent you come across! Do your homework and find one you’re comfortable with.

Keep Other Houses in Mind

43.9 percent of agents say this is a very important tip.

5.8 percent of agents don’t recommend this tip.

The tip: When you begin negotiating on a specific property, know of other houses you’d be interested in buying. You don’t want to be so desperate to buy a certain house that you give in to whatever the seller wants.

Be Smart With Your Contingencies

40.6 percent of agents say this is a very important tip.

9 percent of agents don’t recommend this tip.

The tip: Avoid including unnecessary contingencies in your offer. Doing so will make it less attractive.

Keep Negotiations Short

39.8 percent of agents say this is a very important tip.

4.8 percent of agents don’t recommend this tip.

The tip: Avoid long, drawn-out negotiations, which can negatively affect the chances of your offer being accepted.

Shop around for Mortgages

37.9 percent of agents say this is a very important tip.

4.7 percent of agents don’t recommend this tip.

The tip: Shop around for at least several mortgage quotes before choosing one.

Ask for More Than You Want

32.1 percent of agents say this is a very important tip.

10.1 percent of agents don’t recommend this tip.

The tip: Ask for more than you want during negotiations, without asking too much. You can “give in” to the seller without actually giving up the things you want!

Scope out Neighborhoods, Neighbors

31.9 percent of agents say this is a very important tip.

7.1 percent of agents don’t recommend this tip.

The tip: Talk to neighbors to get the inside scoop on what it’s like to live in the neighborhoods of homes you are interested in. While doing so, gauge if you would like to live next to these people for the foreseeable future. Bad neighbors can affect your property’s value.

Connect With the Sellers

24.9 percent of agents say this is a very important tip.

27.5 percent of agents don’t recommend this tip.

The tip: Establish a connection with the sellers. You may be able to get a better deal if the sellers see you as a person, not just an opportunity.

Source: Market Leader

This post has been authored by Eric Slifkin, REALTOR® serving South Florida’s Treasure Coast. You can reach me at 888-288-1765, or visit my Web site. As your resource for information on new or resale homes throughout the Treasure Coast, please be sure to contact me about any home you may find on the Web, yard sign or ad and I will research the property, arrange showings and handle all the details.

Questions to Consider in a Seller’s Market: Multiple Offers

When home buyers outnumber sellers, the result can be a multiple offer scenario. If you’re searching for homes in a competitive market environment, you’ll want to take time to understand the dynamics of multiple offers and understand how this might impact your negotiating strategy.

Some questions to discuss with your buyer’s representative:

1. Will I know if I’m in a multiple offer situation? Not necessarily. Typically it works to a seller’s advantage if buyers are told they are competing with one another. But a seller must give their agent permission to disclose the existence of other offers before this can be shared with your buyer’s rep.
   
   
2. How will offers be presented to the seller? The seller decides how they want this handled, either individually or as a group presentation. Once presented, a seller can elect to accept (or counter) one offer, reject all offers, or reject all offers in conjunction with a request to resubmit a “highest and best” offer.
   
   
3. Will the details of my offer be kept confi dential from other buyers? The only way to preserve confi dentiality is to ask the sellers to sign a confi dentiality agreement before presenting your offer (which also applies to their agent). However, if the seller decides to have a group presentation of offers, you’ll either have to withdraw your offer or revoke the confi dentiality agreement.
   
   
4. If my offer has the highest price, can I be confi dent that I’ll beat out other buyers? No. Sellers can accept whichever offer they consider “best” and that may be based on other factors, like the certainty of closing (e.g., the buyer is already approved on their mortgage) or fl exibility on closing dates.
   
   
5. What are my options for writing a stronger offer? In addition to firming up your financing (or paying cash) and offering flexibility on timing, there are a number of other things you can do, including eliminating contingencies, increasing your earnest money deposit or paying closing costs, to name a few. Discuss your options with your buyer’s rep.
   
   
6. If I don’t want to compete with other buyers, can I withdraw my offer? Yes, as long as you deliver notifi cation to the seller revoking your offer before they've accepted it.Every home buyer benefi ts from having their interests represented in a real estate transaction, but in a multiple offer scenario, you’ll gain even more if you’re working with an Accredited Buyer’s Representative. Discuss these and other questions with your buyer’s rep so you can anticipate each step in the negotiation process and improve the likelihood of a successful outcome.

Every home buyer benefits from having their interests represented in a real estate transaction, but in a multiple offer scenario, you’ll gain even more if you’re working with an Accredited Buyer’s Representative. Discuss these and other questions with your buyer’s rep so you can anticipate each step in the negotiation process and improve the likelihood of a successful outcome.

Source:  Real Estate Buyer’s Agent Council (REBAC)

This post has been authored by Eric Slifkin, REALTOR® and Accredited Buyer’s Representative* serving Florida’s Treasure Coast. You can reach me at 888-288-1765, or visit my Website.

As your resource for information on new or resale homes throughout the Treasure Coast, please be sure to contact me about any home you may find on the Web, yard sign or ad. I will research the property, arrange showings and handle all the details.

*The Accredited Buyer’s Representative (ABR®) designation is awarded by the Real Estate Buyer’s Agent Council (REBAC), a subsidiary of the National Association of REALTORS® (NAR). To learn more about REBAC and access various home buyer resources, please visit REBAC.net.