South Florida Real Estate Blog by Shari Orland, Realtor

Avoiding Expensive Buyer Mistakes!

Buying a home in Boynton Beach– especially if it’s your first – can seem like it’s just a magnified version of any other major purchase. You’re the buyer—which makes you the boss. It can be as straightforward as that—but there are also several parts of the process where it’s all too easy for Boynton Beach buyer mistakes to cost not just time and frustration, but real money, too. Here are some common home-buying missteps:

1. Looking for a home before speaking about a mortgage.

Many first-time buyers make the mistake of viewing homes before making contact with a mortgage lender. This puts you behind the ball if a home you love hits the market, or if you wind up spending time and energy looking at homes that you can’t afford.

2. Talking to only one lender.

This one is a biggie! Buyers who get a mortgage from the first (and only) lender or bank they talk to are potentially leaving thousands of dollars on the table. The more shopping you do, the better basis for comparison you’ll have for ensuring you’ve landed the best deal.

3. Being careless with credit.

In the months leading up to a mortgage application, don’t open new credit cards, close existing accounts, take out new loans, or make large purchases on existing credit accounts. Maintain that practice through closing day.

4. Assuming you need 20% down payment

Delaying your home purchase while you save up for a 20% down payment can take years. That’s tying up cash at a time when you might be putting it to better use: maximizing your retirement...

Some Expenses Aren’t Really Avoided by Boca Raton Renters

 That “things break down” is a truism as old as mankind—possibly preceding the invention of language itself. You can picture a furious caveman staring at the shattered remains of the wheel he’d just invented—after the first time it broke. Sooner or later, “things fall apart.”

When area residents mull over their personal living arrangement decisions, one of the logical financial arguments for renting Boca Raton homes rather than buying is the added cost of maintenance. Boca Raton renters reason that they don’t have to worry about saving up for a rainy day (as when the garbage disposal clunks out). For renters, it’s someone else’s problem (that is, the landlord’s)—as well as his or her expense. True enough.

But looking at the wider picture, you see that the universal ‘no free lunch’ rule applies. The landlord doesn’t really pay for the new garbage disposal except in the short run. Built into every rental agreement is a monthly charge into which the maintenance expense for the home or apartment unit has already been included. The average rates that residences experience breakdowns or require normal maintenance are well known—and the monthly pro-rated amounts have been reckoned and included.

It’s true that the inconvenience (and sometimes, shock!) of having to pay for sudden appliance breakdowns is largely avoided by Boca Raton renters, who may put a great deal of value on that advantage. But Boca Raton homeowners have more than one way to minimize the financial distress of inevitable breakdowns. They can either put something away in a rainy day account for that purpose only, or they can sign up for any of a number of home service plans.

The decision of...

Buying Delray Beach Homes: a Smart 7-Step Progression

 Buying Delray Beach homes takes some degree of organization no matter what. Especially when time is a screaming imperative, it can make or break whether you land a home that’s right—or one you ultimately determine isn’t adequate over the long haul. Whether the time pressure is due to a sudden job transfer, family emergency, or the unexpectedly rapid sale of an existing Delray Beach residence (that can happen when I’m your selling agent!). Finding your next home in a hurry calls for no-nonsense organization.

The precise path to your house-hunting success is bound to include some unexpected elements, but having a step-by-step plan in mind will provide a useful template:

  1. Get pre-approved. This comes first, rather than determining how much you can (or want to) afford because it will reveal the lending world’s opinion, which—if you are other than an all-cash buyer—will preclude wasting time chasing just-out-of-reach properties.
  2. Set your budget. This may not be all you can borrow: it should be what you can comfortably afford.
  3. Hunt online. This is where today’s shoppers can cut to the chase way more efficiently than previous generations.
  4. Find a real estate agent who is highly experienced in the Delray Beach market (highly recommended: me!).
  5. Tour a variety of candidate properties. Your agent will manage this process to save time. Don’t be afraid to visit open houses if they pop up (but be sure to tell the showing agent you are represented).
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Boynton Beach “For Sale” Signs Really Do Pack a Whallop!

Every now and then we have to shake our heads at how much the electronic transformation has changed daily living in Boynton Beach. Electronics have invaded practically everything—from home wifi to ultra hi-def TV to cell phones that double as search engines.

As you read this, you’re only a couple of clicks away from being able to summon up all the current Boynton Beach homes for sale that fit your chosen criteria. Want to check out 3-bedroom single family residences currently listed for $400,000 or less? Click click: here they are—complete with pictures (and perhaps a video tour). It’s a revolution that’s still ongoing, too—one bound to produce surprises we haven’t even imagined.

Yet, despite the sweeping changes in Boynton Beach real estate marketing, there is one old standby whose...

Boca Raton Lender Pre-approvals Make Sellers Comfortable

 The idea of gaining a lender’s pre-approval is one of Boca Raton house financing’s “no downside” ideas—it can only help. Can’t hurt. Theoretically, even if you belong in the upper reaches of the upper crust, having a bank pre-approval in your hip pocket couldn’t be a mistake.

For instance, suppose you happen to run across one of Boca Raton’s all-time dream homes, for sale at a reasonable asking price. You will be able to offer all cash for it (folks like you upper-crusters can do that); but a competing offer had just been received, and the owner is reaching for the “Closed” sign. If you are able to whip out the pre-approval sheet on the spot, it might be enough to make the seller pause because there’s no need to do further research into your substantiality. Even though you don’t need the bank, its pre-approval can only help.

When you team up with an experienced Boca Raton Realtor® (I’m one of those), being able to mention your pre-approval is always a positive that makes sellers that much more eager to present their properties at your convenience. You can bet that it also makes your interest something the seller will court.

When a to-die-for Boca Raton home comes on the market at a competitive price (and there are some of those in this market), it’s bound to draw a crowd. Having a pre-approval in hand is almost the very definition of “qualified buyer.” Why not be one of those?

I’m here to help you find and make the kind of deal you want to tell friends and family about—one that engenders bragging rights. Call me!

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