real estate – Page 2

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?

Multiple Real Estate Offers : How to Decide Which Offer to Choose

October 27, 2021 By Deborah Ward

You’ve had your home on the market and now have the delightful situation of multiple offers. So how do you decide which offer to choose? Well, there are a few things that come into play, such as the financing situation of the buyers, length of closing period, other agents reputation, price, weird conditions the buyers place in the offer, like keeping your decorations or taking out the in ground pool.

Here’s some good advice.

The Other Realtors

Most importantly, know that your Realtor will not be sharing the offers with all the other agents. Doing this might give one an unfair advantage and doing so would violate their ethics (and license).

Not Always the Highest Bid

The reasonable choice when fielding multiple offers is to take the one that has the highest bid, but that’s not always the case. Sometimes buyers who come in with a lower price, but can fill other needs of the seller may just get the house. What if your seller needs a quick settlement, but the highest bid needs more than 30 days to get their financing in place?

What Trumps Price?

What are other items that can trump price?

Inspection requirements. Yes, inspections are important, but as a seller if you have already done one, wouldn’t the buyer who doesn’t require a second of their own trump one who does? This can also shorten timing requirements.

Shortening the mortgage contingency. As a seller, a buyer who is preapproved and has all of their financing approved and in place is much more attractive than one who doesn’t. It can mean accepting a lower offer. Higher deposit amount. This also feeds back into financing. Putting up a higher deposit shows a buyer who is serious.

Who is making the offer. In some cases, knowing something about the people making the offer can make a difference as well. Are they a family who fell in love with your family home? That can make them more attractive to you than a single or couple.

As a seller, price usually trumps, but other items that can gum up a sale being removed from the process can help you decide which offer to take. Know what is important to you and decide accordingly.

If you would like to work with a professional Clearwater Realtor, give The Deb Ward Team a call today! 727-410-0336

Buying a Home or Renting?

October 27, 2021 By Deborah Ward

Should I be buying a home or renting? Many people ask themselves this question everyday. For some, it depends on their lifestyle, but generally, for many buying a home becomes the better answer to the question. In order to help you figure out that answer for yourself, let’s look at this is from why people do each: buying a home and renting.

Renting: Do you know you will have the same job over the next few years? Are you planning on staying in the area or moving? Can you find somewhere to rent that is less expensive than a mortgage payment? Do you prefer to let someone else do maintenance on your living space and have to wait for that maintenance appointment to be made by another person? Renting can be a plus. Generally there are lower up-front costs and more flexibility to move if necessary. The problem with renting, though, is you have no control over rent increases, your living space style, and you aren’t building any equity in the real estate property for you, and the landlord makes the rules.

Buying: Are you planning on staying in the area you live in for more than a few years? Do you want to build a real estate investment? Do you want to be in control of your living space – changing paint or even where walls are, planning maintenance appointments on your schedule? Do you need tax deductions? When you buy, you own the property and all the equity it has. That means you can borrow against that equity to improve the property. It’s yours so you can make any changes to it that appeal to your own personal sense of style. Ownership also gives you tax deductions against your income tax burden for both mortgage interest and your real estate taxes. That is a huge savings. Although the economy is taking a long time to improve, in some areas real estate is again gaining value instead of losing value.

You have to make the decision for yourself, but in the long run, buying a home is much better than renting a home.

Who Pays For A Realtor?

October 27, 2021 By Deborah Ward

Who pays the realtor is a question you may be asking if you are thinking about buying a home for the first time. Realtor’s make a commission based on what a home sells for, and that is usually thousands of dollars. So who pays? Relax, first time buyer, most of the time the seller pays.

Real estate commissions are a percentage of the selling price of a home. That percentage is controlled by the listing contract that is signed between the seller and the Realtor. As a buyer, that should be your first clue as to who is responsible for payment. Generally, you, as buyer, aren’t a party to that contract, so you can’t be compelled to pay for something under it.

So what if you hire a Realtor to work just for you to find you homes? Well, technically the seller pays them as well. What happens in that case is the commission is split between the listing agent and the buyer’s agent. Generally this is what happens, but remember that the seller is not obligated to pay the listing broker for more than the listing side or portion of the commission. In most cases, the split is done with no problems. If you have worries about it, then talk with your buyer’s agent.

Remember that like any other kind of agreement real estate commissions are negotiable. That doesn’t always mean that another agent will negotiate. So, as you should do with any negotiation, don’t immediately insult the other side by demanding concessions on commissions immediately, or make a big deal about the percentage. Remember, again, that you are not a party to the contract that sets that percentage. If you think it will affect your ability to buy, then let your agent handle it.

Sand Key Real Estate | Pinellas County

October 27, 2021 By Deborah Ward

Sand Key real estate is some of the most beautiful property in Pinellas County, FL.

Sand Key is a barrier island just south of Clearwater Beach in Pinellas County, Florida. It has medium and high end residential real estate. It also has a hotel, an area of cute, small shops and restaurants and a public park.

Gulf Side or Intracoastal

Sand Key is a great place to live in Pinellas County. Access to the island is over the Sand Key Bridge on the north side of the island, and the Belleair Causeway to the east. The multi-million dollar high end homes are found on the Gulf side of the island. These are not only large homes but also homes with land and all of the amenities you could ever want. More affordable single family homes are along the intracoastal waterways. Saying that almost every home is waterfront isn’t a stretch.

Condos!

Condos are also available on Sand Key and again, the amenities are abundant. What are they? Well, here goes! Let’s start with Bayside Gardens. Found on the Intracoastal Waterway and affordable at $200,000-$400,000 per unit. Bella Rosa is a beachfront condo community near Sand Key Bridge. Units are 2,300 square feet, 3 bedroom 2 bath units that sell for between $800,000 and $1.5 million. Cabana Club is also Gulf side and beachfront and has plenty of Victorian charm. Units sell for between $400,000 and $650,000. Crescent Beach is beachfront on the Gulf, but has water views of the Gulf, Intracoastal waterway and Clearwater Beach. It has a huge range of unit prices to fit any budget, ranging from $300,000 to $1.2 million. Dan’s Island is beachfront with units starting at $400,000 up to $750,000.

And More Condos!

Want more? Next is Harbour Light Towers. Beachfront units that are affordable with units ranging from $325,000 to $450,000. Harborage I & II is found on the Intracoastal Waterway and is also affordable with units ranging from $250,000 to $400,000. Isle at Sand Key is on the Intracoastal Waterway and has two bedroom condos ranging from $250,000 to $400,000. Landmark Towers I & II are found on the Gulf side and range from a reasonable $175,000 to $400,000 per unit. Lighthouse Towers are also beachfront and a step above. Units sell between $300,000 and $700,000. Marina Del Ray condos are found on the Intracoastal Waterway and gives you a choice of two, three and four bedroom condos which sell between $500,000 and $750,000.

Call the Best

There are more, plenty more! If you want to see these or any of the 9 more condo communities available on Sand Key, contact Deborah Ward, “The Irish Realtor”!! 727-410-0336

Clearwater Beach Real Estate – The Most Expensive Condo Complexes on Clearwater Beach

October 27, 2021 By Deborah Ward

Clearwater Beach has great real estate, from affordable to posh condos right on the beach. In fact, some of the most expensive real estate is condo complexes on Clearwater Beach. Here are some of them.

Sandpearl: The condos at Sandpearl are luxury on the water. One example of a unit here has 3 bedrooms and 3.5 baths with amazing views of the Gulf of Mexico. It also includes a wine cellar marble floors, a gourmet chef’s kitchen and open concept to the living room and dining room. There is a terrace off the kitchen, living room, with a custom wall unit with 3 TV’s, master suite with a custom bed and built ins, and a private cabana by the pool. Community amenities include a concierge, 24 hour security, pool and spa, outdoor cabanas, social room, boardroom, fitness with steam and sauna.

Condos at 1350 Gulf Boulevard: These condos are also on Sand Key. Contemporary design with Gulf front views. Condos have over 60 feet of direct gulf front balcony space and the bedrooms each have views overlooking the intracoastal! Units have a double master suite with his and her full private baths and walk in closets, a large kitchen, bar area, family room and formal entertaining areas. They also have 2 utility rooms, 4 bedrooms (not including the master) and gorgeous baths. The community amenities include a fitness center, clubhouse, meeting room, heated pool, spa and more.

The Grande at Sand Key: These beautiful condos have Gulf front views and 5,150 square feet of amazing luxury. Each unit has over 800 square feet of outdoor terrace. The Gulf isn’t the only view either, you will have panoramic views of the Gulf and coastline from Clearwater Harbor up to Tampa. Units have travertine flooring, volume ceilings, granite counter-tops, california closets, open floor plans with multiple living areas, three master suites and a private access elevator with a private over-sized two car garage. The community offers a 24-hour manned gatehouse entry, private beach access, heated beach pool and cabanas overlooking the Gulf, an outdoor spa and heated lap pool, gas grills, fitness center complete with steam room and sauna, two har-tru tennis courts and on-site concierge services.

These are just a few, but if you want to treat yourself to the best, contact a Realtor like Deb, the Irish Realtor 727-410-0336 today!