Real Estate News

Understanding Your Home’s Real Value When Selling Your Home

October 27, 2021 By Deborah Ward

It is important when selling your home to understand it’s real value. A home that you have lived in, created memories in, and added your personal touches to, may hold more value to you emotionally than a buyer would be willing to pay.

By the same token, a home that you have outgrown and feel frustrated with, may seem less valuable to you than the buyer who sees it’s potential and may be willing to make an investment in, for the opportunity to “make it their own.”

Selling price

If the selling price of your home is too low, you could potentially miss out on some good money. If the selling price of your home is too high, potential buyers will look over it in favor of something more affordably priced.

A home that sits on the market for too long not only keeps dollars out of your pocket, but could also earn an unfavorable reputation making it harder to sell. The goal is to set a price that is fair and accurate for market value, without being too high or too low.

Market value

Market Value is the price at which a house in its current condition should sell for within 30 to 90 days given the current economy. A home’s fair market value is determined by a variety of factors including the quality of the build, the condition it is currently in, the size of the house, the size of the property on which it sits, the location of the home, and the price that other similar homes in the neighborhood have recently sold for. It truly takes a trained professional to understand all of these nuances and help determine a fair asking price for a home.

An accurate market value can help your home sell faster making the overall home selling process much smoother and more pleasant. So take the emotion out of pricing your home and let a professional such as Deb Ward help you figure it out. She can make selling your home a positive experience.

Give the Deborah Ward & Associates Team a call today to find out more about listing your Tampa Bay home for sale! 727-410-0336

Real Estate Buyers – Why You Need Title Insurance

October 27, 2021 By Deborah Ward

One of the larger costs for buyers when buying real estate is buying title insurance. Buyers, especially first time home buyers, often wonder what it is and if it is truly necessary. The answer to that last part is a resounding YES!

What is title insurance?

Title insurance is an insurance policy that protects the owner of the policy if there is a defect found in the title, or ownership, of the property. While it would seem that looking at the ownership history of a piece of property is a simple thing, there can be many things that complicate it. Some examples? Well, what if a mortgage that was recorded against the property was never shown as paid in full? Or if a tax bill was paid, but never taken off the record? What if several decades ago someone wrote down a property line wrong on an older deed? All of these things can complicate the title, and if it isn’t cleared up, you could lose your real estate.

A cloud on the title:

All of these issues cause something called a “cloud” on the title. Title insurance protects the policy owner against the costs of getting rid of that cloud. There are two types of title insurance, lenders’ and owners’. The lenders policy protects your bank or mortgage company. They have a vested interest in making sure that the title is clear. In the event that you default on the mortgage, they will eventually be the owners of the property and will have to sell it. They can’t sell a property with a cloud on the title. The lenders policy will usually be in the original amount of the mortgage. If there is a claim, the policy will pay out up to the amount the lender is out, the original mortgage amount, and pay off the mortgage. The benefit to you is that you won’t owe your bank a dime if you lose in court.

Owner’s policy:

The owners policy is for you, the deeded owner to the property. This policy does a few things. First it protects over and above the lender’s coverage. Second, it protects you once the mortgage is paid off. The owners’ policy stays with you, the owner.

Mortgage companies or banks will require a lender’s policy, but purchasing an owners policy is a good idea. Protecting your interest over and above the lender is smart!

Want more? Check out our post In A Clearwater Real Estate Transaction Who Pays For What?

Clearwater Referral Real Estate Agent – Deb Ward, the Irish Realtor

October 27, 2021 By Deborah Ward

Any good Realtor will tell you that a lot of their business comes not from people who drop in the office or call on a whim, but through referrals. Referrals come from a lot of sources, past clients, current clients, and also from other Realtors and agents. In fact, referrals should be the biggest part of your new listings. If you’re looking in Clearwater for a good example of how to get those referrals, Deb Ward the Irish Realtor, is a great example.

So how do you go about getting other Realtors and agents to refer you to others for listings? Be the best! Deb is a great example of how to be the best and get those Realtor and agent referrals.

Deb has a thriving business in sunny Clearwater, Florida

She is the lead listing Realtor at Deb Ward & Associates, a Keller Williams Realty affiliate. That’s one way to start getting Realtor or agent referrals, be affiliated with a nationally recognized firm. It gives you an automatic referral source from affiliated agents from other areas who may have clients moving to Clearwater.

Deb is also a great example because she specializes in the great water front homes and communities in the Clearwater area. Being specialized and knowing your area well will give other agents or Realtors the confidence they need to refer people to you. Deb’s years of experience helping people to buy and sell is well known. She is well known for helping buyers find their dream waterfront home or sellers help in selling for the best price quickly.

Deb is also a relocation specialist

When it comes to helping out of town buyers or sellers, no one is better than Deb. There are a lot of ins and outs to helping out of town buyers and sellers, from what specialized documents could be necessary to helping them move. Again, being a specialized Realtor will help you get the referrals you need.

Find out more The Deb Ward Team 727-410-0336!

Why You Might Not Be Able To Get Homeowner’s Insurance In Clearwater Florida

October 27, 2021 By Deborah Ward

Looking for a great home in Clearwater? If you are moving from another state, one with much higher home prices, Florida real estate seems like a bargain investment. The problem comes in after you buy Florida real estate and try and procure homeowner’s insurance to protect your investment from fires, people hurting themselves in your home or theft.

Its not all Sunshine

Let’s face it, while the Sunshine State has plenty of sunshine, it also has some darker sides to it as well. Things like hurricanes that destroy properties, flooding and sinkholes that pop up all over the place. In fact, a few years in a row of rather destructive hurricanes sent many large insurance companies running. They had large losses paying homeowners for claims from the hurricanes. Then they packed up and left.

Smaller insurance companies

Now there are a number of smaller insurers who do insure in Florida. Premiums are high because of the risk involved. The smaller number of companies, along with a state run insurance program, are the only choices. In this case, competition is not keeping prices down, due to the smaller number of companies. Larger companies, who have brand recognition and the ability to spread the risk nationwide, bailed. They are now only 17% of the market in Florida.

How larger companies do it

Larger insurance companies have the ability to keep prices lower because they can have their customers share some of the risk. After Hurricane Isabel in 2003, many homeowners in areas that were not hit as hard found their insurance rates going up. For example, while parts of Maryland were hit hard, and areas like Baltimore City and Annapolis were badly damaged and flooded, other western counties only had minor wind damage.

However, those western customers had their rates raised the next time they renewed their policies… whether they had a claim or not. It may seem unfair, and it is, but it is one way that bigger insurers stay in higher risk areas and keep premiums for those customers reasonable.

Citzens Insurance Company

If you can’t get private insurance and you have a hard time finding a big carrier to insure your home, you can always check out Citizens Property Insurance Corporation. Citizens was formed in 2002 from the merger of two other entities to provide both windstorm coverage and general property insurance for home-owners who could not obtain insurance elsewhere. It was established by the Florida Legislature in Section 627.351(6) of Florida Statutes as a not-for-profit insurer of last resort, headquartered in Tallahassee, Florida, and quickly became the largest insurer in the state.(1)

So Florida home prices may not be as high as some other places, and you CAN find insurance, but be prepared to have to look around to find coverage.

If you are thinking about buying a waterfront home in the Clearwater FL area and would like to learn more about some of these and other issues, give Deb Ward a call today! 727-410-0336

Why the Heck do You Need Home Inspection When Buying a Home?

October 27, 2021 By Deborah Ward

So why is a home inspection so important? Sometimes getting the home of your dreams is a challenge, and it might seem like a good idea to ensure getting the deal by dispensing with the home inspection. It will give you the edge, right? Maybe, but at what cost?

A Big Investment

Buying a home is the biggest investment any one person will make. Not protecting yourself when making that investment is silly. Unless you know exactly what is right or wrong with a home, giving up the ability to inspect a property before purchase can get you into hot water.

Getting one can mean being able to renegotiate the purchase price of the home, walk away from a problem home and protect your investment in the future.

Start with the Important Stuff

A home inspector will look for a lot of different things. He starts with the important stuff, the structure of the home. A home inspector climbs onto the roof, pokes at the foundation, and crawls into attic space looking for water condensation or penetration from the roof. They look for cracks in walls, ceilings and floors, evidence of mold and any signs of water leakage.

Outside, they look for any place that may allow water to seep into the home. They also look for things like broken glass seals, missing caulking, settlement cracks, loose or missing roofing shingles and flashing.

Plumbing and Electrical Systems

Inside they check all of the plumbing and electrical systems. Is there evidence of leaky pipes? Are sinks and tubs draining adequately? What about water pressure? Does the hot water heater work? If there is a sump pump, is it working? Is there a filtration or water softening system and does it work? Should there be a filtration or water softening system?

All the electrical components are examined to ensure they fit and are operating safely. Are there ungrounded outlets or switches? Is the electrical panel adequate for the size of the home and is it up to date? Are there working smoke and carbon monoxide detectors?

Other Systems

Other systems like the heating and air conditioning working properly? Is the home adequately insulated and ventilated? The systems in the home can be expensive fixes if not working properly.

Don’t waive the home inspection. It could be a big mistake.

A History of Spanish Style Homes – Clearwater and St. Pete Real Estate

October 27, 2021 By Deborah Ward

Spanish style homes are popular in the Clearwater and St. Pete area. The style refers to particular types of architecture that was brought here by the early inhabitants of the area, the Spanish, and continued influence in the area later through the immigration of people from other areas like Cuba. The styles are similar, but have some differences. Here’s a run down of each.

Spanish Baroque: These Spanish style homes came from the architecture of the 17th and 18th centuries and are very ornamental. Subsets of this style, the Plateresque and Churrigueresque styles, are especially intricate and feature curved shapes and a lot of visual movement.

Mission Revival Style: The style began in the 1890’s is more regularly found in California, since it is based on the missions of the Spanish Catholic colonists built in the mid- to late-18th century. These Spanish style homes borrow from the missions’ architectural elements such as bell towers and roof parapets, and regularly feature recessed front porches.

Spanish Eclectic: Also called Spanish Revival, this style blends the mission elements together with elements of Moorish, Byzantine, Gothic and Renaissance styles. For instance, a simple mission bell tower and stucco walls might share space with more ornate details, such as turrets, ornamental tiles on floors and walls, stained-glass windows, and intricate wrought-iron bars over windows and balconies, a blend of the simple with the imagination.

Monterey Style: This Spanish style home is a variation of Spanish revival architecture, but its biggest difference is second story homes. These second stories almost always have a balcony that runs the entire length of the house and is shaded by the home’s main roof. It also commonly features things borrowed from the colonial revival style like front porch columns and triangular structures called pediments.

Whichever style you prefer, any of these Spanish style homes will fit well in Clearwater real estate as well as St. Pete real estate.