Are Home Warranties Worth It When Selling a Home?
June 5, 2008
A home warranty pays repair or replacement costs for the mechanical systems and built-in appliances that break down in a home. Warranties can be purchased by either the buyer or seller. When the seller is paying for the warranty, it is usually paid for and goes into effect at closing. The coverage period is normally one year.
There are a lot of companies offering home warranties and coverage of individual policies can vary widely. Usually, central heating and air conditioning systems, electrical, plumbing and major appliances are covered. It’s important that you read the policy closely and understand what is and is not covered. The cost for a one year home warranty typically runs between $300 and $500, depending on the size of the home and the specific types of coverage. In addition to the policy premium, there is normally a deductible of $50 - $75 to pay when making a repair claim. Read more
Selling a Tampa Home and Buying Another?
June 3, 2008
So you are thinking of selling your home but want to ensure that you will have somewhere to move to afterwards? Not too long ago, you could sell your old Tampa home and buy the new one on the same day. Given that the Tampa real estate market has changed from that time three years ago, here are some things to keep in mind as you negotiate the sale of one house with the purchase of another.
Time it right
Fall and spring are the best times for homes to move and you want to consider the season of the year when buying and selling. And if the closing dates aren’t going to coincide, a gap – rather than two mortgages – is the better. It’s easier and usually cheaper to find temporary housing than juggle two mortgages.
Selling First
- Selling your home before buying a new one minimizes financial hazards. Even if you have to find temporary housing, it’s generally cheaper than two mortgages.
- Get an appraisal first thing off the bat. That way you’ll have a good idea how the sale of your home will affect your purchasing power on the new one. This will help keep you from over extending your mortgage abilities.
- Get pre-approved on a loan for the new home.
- Until most of your selling contingencies have been met, wait to put an offer on a new house. You don’t want to be left holding the bag, or in this case, the house.
- If you’re ready to accept an offer on your home, but haven’t found the right new home, negotiate a long escrow or a sale/lease back. This will give you more time to look for the new home. Otherwise, look for temporary housing. Read more
10 Tips for Homeowner’s Insurance Costs Savings
May 31, 2008
When buying a Tampa home, the lender will require you to obtain homeowner’s insurance. During the hurricane season in Florida, it is vital that you get this done as soon as you place a property under contract. There are times when a hurricane warning comes, that insurance companies halt any new applications. This means that you may be ready to close on a home, but temporarily can’t get approve on a Tampa home insurance policy. As a homebuyer, there are ways to lower your home insurace costs:1. Review the Comprehensive Loss Underwriting Exchange (CLUE) report on the property you’re interested in buying. CLUE reports detail the property’s claims history for the most recent five years, which insurers may use to deny coverage. Make the sale contingent on a home inspection to ensure that problems identified in the CLUE report have been repaired.
How To Stretch Your Canadian Dollar By Moving To Tampa
May 28, 2008
When it comes to your hard-earned money, Tampa FL real estate offers you more value for it even at less the cost. There’s absolutely more than one reason why it is recognized as one of the best places to live and work.For one, Tampa proves that it is an erroneous belief that you have to be in a city where costs of living are high just so the family can have the best quality life and have a great leisure time. Tampa is a lovely area where beaches, nature and modern living come together in a perfect combination yet still maintain a below-average cost of living. So, whether the family has an active lifestyle, or one that enjoys the simple things in life, there is no need to look far as Tampa is a city bequeathed with amenities and natural beauty that will cater to their different needs. There are also Tampa homes that already come with swimming pools so that everyone can have a good time during the weekend. Read more
Buying bank owned properties in Tampa Florida
May 25, 2008
There is a lot of interest in buying bank owned properties in Tampa Florida these days. A lot of information, some good and some bad, is floating around about the subject. Often the information offered is for sale, with the promise that you can make a lot of money with little effort once you know “the secret formula”. The fact is that there are no secrets, and to make money does require effort.Fact: Marc Vitorillo of Schaaf & Vitorillo Realty has been selected by an REO Company in California as an exclusive Real Estate Broker in Tampa to list all their bank owned properties in Hillsborough, Pinellas and Pasco Counties. Contact us today if you would like to be updated with properties that fit your criteria.
What’s an REO?
REO stands for “Real Estate Owned”. These are now bank owned properties in Tampa that have gone through foreclosure. This is not the same as a property up for foreclosure auction. When buying a property during a foreclosure sale, you must pay at least the loan balance plus any interest and other fees accumulated during the foreclosure process. You must also be prepared to pay with cash in hand. And on top of all that, you’ll receive the property 100% “as is”. That could include existing liens and even current occupants that need to be evicted. A REO, by contrast, is a much “cleaner” and attractive transaction. The REO property did not find a buyer during foreclosure auction. The bank now owns it. Read moreTampa’s Affordable Housing Program Review
May 22, 2008
Tampa’s State Funded Affordable Housing Program Receives Top Score
Wow! The City of Tampa received a score of 100%, the highest score possible, during the annual review of the City’s State Housing Initiative Partnership (SHIP) program. Seltzer Management Group Inc., the State designated monitoring firm, recently completed the annual SHIP program management review and physical inspection of the City’s SHIP program. The three areas of the City’s SHIP program that were reviewed included the examination of records, administrative procedures, and physical inspection of the Tampa homes.For the three year period that was reviewed the City received over $7.7 million in SHIP funding. The SHIP program is a State funded housing initiative that allows the City to increase the number of affordable housing units available in Tampa.
What exactly is State Housing Initiatives Partnership (SHIP)?
The State Housing Initiatives Partnership (SHIP) Program provides funds are collected from local documentary stamp revenues. Total actual disbursements are dependent upon the amount of documentary stamp collections. Funds are used as incentives to produce and/or preserve affordable home ownership and multifamily rental housing. Jurisdictions must establish a Local Housing Assistance Plan (LHAP) that provides strategies to meet the affordable housing needs of the community.
Tampa Bay Hurricane Expo, Tampa Homeowners Prepare
May 21, 2008
We have talked about the joy of living in Tampa on my previous post. Much of the enjoyment of living in the Tampa Bay area is having sunny days for much of the year. However, we do have some bad weather from time to time and is mostly during our hurricane season. It usually starts near June and end all the way til end of November. Now that doesn’t sound like all-year great weather now. Nevertheless, Tampa homeowners need to be prepared at all times just in case during those months.Whether you are a homeowner near the beach or a Tampa homeowner inland, everyone should take the precautionary steps. The City of Tampa and Hillsborough County are pleased to announce the 2008 Tampa Bay Hurricane Expo will be held on Saturday, May 31, 2008 at the Museum of Science and Industry (MOSI). The Expo is intended to help educate our residents on the importance of knowing their evacuation zone and making an effective plan in the event of a hurricane. The Expo will be a free, family-friendly event.
What Can You Expect from New Tampa Neighborhood
May 21, 2008
Are you considering moving to Tampa? So, where do you plan to go? No, forget your dart board, map and blindfold. That is a terrible way to choose your new hometown. You should take your time to consider various options. It doesn’t matter if you’re moving because of a new job or you’re just looking for a fresh start, moving is an adventure. However, it is also a source of uncertainty. What if you end up in a really bad place? Planes could be landing not too far away and you’d be startled awake at night by plane engines. You could end up near a wharf where you’d be suffocated by foul smell.In addition, are you looking for a place where its fun and safe for your family? Are you looking for a place where modern amenities are available –where you could go shopping on weekends? Perhaps, you should consider Florida’s New Tampa neighborhood.
Introduction to New Tampa
New Tampa is a sun-drenched Tampa neighborhood that shares the financial, cultural and recreational character of the whole West Central Florida. New Tampa is your choice if you’re looking for a place that caters to a perpetually-on-vacation-like lifestyle. The place boasts of a year-round fun and recreation.
New Tampa is 15 miles northeast of Downtown Tampa. Driving through New Tampa neighborhood, you’d be struck by the New Tampa’s rapid collection of well-structured communities.8 Quick Tips to Guide for Your Tampa Home Search
May 20, 2008
Are you looking for real estate in Tampa FL? If you are hopping different websites to find your next Tampa home, then you’ve finally found the one-stop resource here at eTampaRealEstate.com.Here are some quick hints to make it easier for you to find your next Tampa home.
8 Quick Tips to Guide for Your Tampa Home Search
1. Research before you look. Decide what features you most want to have in a home, what neighborhoods you prefer, and how much you’d be willing to spend each month for housing.
2. Be realistic. It’s OK to be picky, but don’t be unrealistic with your expectations. There’s no such thing as a perfect home. Use your list of priorities as a guide to evaluate each property.
3. Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and closing costs. Then, talk to a lender and get prequalified for a mortgage. This will save you the heartache later of falling in love with a house you can’t afford.
4. Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion, but be ready to make the final decision on your own. Read more
Obama in Tampa Florida
May 20, 2008
Obama will be in Tampa Florida. There will be a rally held Wednesday, May 21, 2008, at the St. Pete Times Forum, 401 Channelside Drive, downtown Tampa. Doors open at 10:30am, event begins at 12 noon and is open to the public. Tickets are required to attend. Wednesday’s event will be the first day of a three-day Florida tour for Obama.Visit the Hillsborough County Democratic Executive Committee in Tampa (the local Democratic Party headquarters) to pick up your FREE tickets that will be available in Tampa at 4221 N. Himes Avenue, Suite #100 (across from Raymond James Stadium on Himes). For security reasons, do not bring bags and limit personal items. No signs or banners are permitted.
This will be the second candidate in the recent weeks that have stopped by Tampa, Florida. If you recall, Republican presidential candidate Sen. John McCain was in Tampa April 29, 2008 to announce plan for health care reform.
In his first visit to the Tampa Bay area since securing the GOP nomination, John McCain said he wanted health insurance companies to compete for business in the open market. McCain indicated that he would offer families a $5,000 tax credit to help buy insurance policies.
Next up, Hillary Clinton…
In the meantime, since Obama will be in Tampa tomorrow, watch a great video with Obama supporters…
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