Treasure Coast
Real Estate News & Market Trends

Feb. 12, 2024

Spring Selling Season: Your Ultimate Preparation Guide

How to elevate your home’s appeal with these three proven tips.

Buying a home? Click here to perform a full home search.
Selling a home? Click here for a FREE home price valuation.

 

As the real estate selling season rapidly approaches, many homeowners are considering putting their houses on the market. If you're among those thinking about selling your home, preparation is key to ensuring a successful sale. Here are three indispensable tips to get your property ready and stand out in a competitive market.

 

The first step is all about making a great first impression. Begin by decluttering your home—this means tidying up closets, rearranging furniture, and removing personal items like photos from walls. A clutter-free home not only appeals more to potential buyers but also photographs better, ensuring your online listings catch the eye of more house hunters.

 

Next, focus on staging your home and completing any necessary repairs. This could mean making a large dining room table smaller to enhance the sense of space or fixing those little quirks you've lived with over the years. Whether it's a leaky faucet, a worn-out doorknob, or peeling paint, addressing these issues can significantly improve your home's appeal and potentially increase its market value.


"If you're planning to sell your home, starting preparations now can put you ahead of the game. "

 

Finally, seek the advice of a real estate professional who knows your neighborhood well. A good agent can provide additional tips, offer a comprehensive property evaluation, and give you a detailed breakdown of the costs associated with selling your home. This information is invaluable for setting the right price and understanding your potential profit.

 

If you're planning to sell your home, starting preparations now can put you ahead of the game. Decluttering, making necessary repairs, and consulting with a real estate expert are critical steps to ensure your home is ready for the market. If you have any questions or need assistance, don't hesitate to reach out to me, Richard McKinney, at Remax Gold. I'm here to help you navigate the selling process on the Treasure Coast.

 

For more tips or to get started on selling your home, give me a call. Let's make your home sale a success this season!

Posted in Real Estate Tips
Jan. 22, 2024

3 Key Strategies for Profitable Rental Property Investment

 

Discover the secrets to a profitable rental property investment in 2024.

Buying a home? Click here to perform a full home search.
Selling a home? Click here for a FREE home price valuation.

 

Investing in rental properties can be a lucrative venture, but it's crucial to consider certain factors before diving in. Here are three important things to keep in mind when purchasing your first rental property:


1. Return on investment (ROI). Your return on investment (ROI) is a vital metric. Many are content just covering their mortgage and some repair costs, but this shouldn't be your benchmark. Aim for an ROI of around 8% or more. This means looking beyond the surface and really diving into the numbers to ensure your investment is sound.

2. Making the house renter-proof. Consider the longevity and durability of the property. For instance, while carpet might be appealing, it's not always practical for a rental. Opt for waterproof laminate flooring or tile, and consider investing in granite countertops. These choices may cost more upfront, but they save money in the long run by reducing maintenance and attracting better tenants.


"Investing in your first rental property in 2024 requires careful consideration."

 

3. Location, location, location. This saying still holds true in real estate: location is key. Tenants, like all residents, appreciate convenience. Is the property close to public transportation, local attractions, shopping, schools, or beaches? Researching areas where major franchises, like Chick-fil-A, are investing can also be a smart strategy to identify up-and-coming locations that could yield better rental income and overall investment returns.

 

Investing in your first rental property in 2024 requires careful consideration of these factors. By focusing on ROI, renter-proofing your property, and choosing the right location, you can set yourself up for a successful and profitable venture. If you're considering purchasing a rental property and want to learn more, reach out to us for more insights and guidance on making the best investment decisions.

 

 

Posted in Real Estate Tips
Jan. 8, 2024

Real Estate in 2024: Trends, Insights, and Opportunities

 

Key trends and opportunities shaping the real estate landscape in 2024.

Buying a home? Click here to perform a full home search.
Selling a home? Click here for a FREE home price valuation.

 

The holiday season is behind us, and we're stepping into the New Year with a touch of class. Welcome to your Treasure Coast January market update! The good news? Snowbirds have arrived, and they typically stay until Mother's Day, which means we're in for an active few months ahead.

Anticipated Market Trends:

1. Condo sales surge. Expect condo sales to see a significant uptick, with projections indicating a potential increase of 30% to 40% in the coming months.

2. Thriving home sales. Home sales are a highlight during this time of the year. Forecasts suggest a robust 20% to 30% rise in home sales.

3. Favorable interest rates. The icing on the cake is the likelihood of decreasing interest rates. This trend opens doors for both buyers and sellers.

The best part? While some statistics rise, others may fall. The opportune moment to make a move is now! If you're considering selling, it's time to list your property and tap into the growing pool of eager buyers.

For those looking to buy, the timing couldn't be better. Treasure Coast currently boasts an increase in inventory by approximately 35%. Paired with declining interest rates, it's a buyer's market worth exploring.

Have questions or need guidance in navigating this promising real estate landscape? Don't hesitate to reach out. We're here to assist you every step of the way. Give us a call, and let's make the most of the opportunities 2024 has in store.

Cheers to a prosperous year in Treasure Coast real estate!

Posted in Market Updates
Dec. 11, 2023

Happy Holidays!

 

From our team to your family, we want to wish you a happy holiday season.

Buying a home? Click here to perform a full home search.
Selling a home? Click here for a FREE home price valuation.

 

Happy holidays to you!

 

The holiday season has officially arrived. We hope you enjoy this wonderful time of year and make some fantastic memories.

 

We wanted to take a moment to thank you for your continued support. We love helping people make their real estate dreams come true, so thank you for working with us and supporting our business.

 

This may be a busy time of year, but we are always here to help you and answer any questions you may have. Give us a call or email, we’d love to help you.

 

In case we don’t hear from you until 2024, have a happy New Year!

Posted in Holiday Messages
Nov. 27, 2023

Sail Into Paradise: Your Guide To Buying Waterfront Bliss on the Treasure Coast

 

Three factors to consider before buying a Treasure Coast waterfront home.

Buying a home? Click here to perform a full home search.
Selling a home? Click here for a FREE home price valuation.

 

Are you considering purchasing waterfront property on the picturesque Treasure Coast? If so, there are a few things you need to consider to make an informed and rewarding investment on the stunning Treasure Coast.

 

1. Water depth during low tide. This depth allows sufficient clearance for your boat during low tide, which is essential for easy access. Most boats need about two feet, but aiming for a 3 to 3.5 or even a four-foot differential during low tide is ideal to accommodate larger vessels.

 

"These three factors are key considerations when purchasing waterfront property on the Treasure Coast."

 

2. Proximity to the ocean. The time it takes from your dock to reach the ocean or nearby recreational areas such as coves or sandbars is vital. As with any real estate, location matters. Being closer to inlets or recreational spots can increase property value significantly.

 

3. Condition of your dock, seawall, and boat lift. Ensuring that these structures can safely accommodate your vessel is crucial. Check the dock's pilings for rot, examine the seawall for proper drainage and erosion prevention, and ensure smooth water flow away from your property.

 

These three factors are key considerations when purchasing waterfront property on the Treasure Coast. If you need any assistance, call or email us anytime. We are well-versed in the local waters and would be delighted to help.

Posted in Real Estate Tips
Nov. 13, 2023

We’re Thankful for You

 

This year and every year, we’re thankful for you in our lives.

Buying a home? Click here to perform a full home search.
Selling a home? Click here for a FREE home price valuation.

 

The 2023 holiday season has officially begun! We hope you are as excited as we are.

 

We’d like to take a moment to express our gratitude to all of you this Thanksgiving. We have met some truly wonderful people, and we’re proud to have helped so many reach their real estate goals over the years. We wouldn’t be where we are today without all of your support.

 

Enjoy your Thanksgiving dinner—that’s what we plan to do!

 

In the meantime, please don’t hesitate to reach out to us if you have any real estate questions. We would be happy to help you.

 

Happy Thanksgiving!

Posted in Holiday Messages
Oct. 30, 2023

Don’t Miss Out: Fall’s Hidden Home-Buying Opportunities Revealed

 

Here are three reasons why this fall might be the best time to buy a home.

Buying a home? Click here to perform a full home search.
Selling a home? Click here for a FREE home price valuation.

 

It's no surprise that 2023 has been a challenging time for both home buyers and sellers. Interest rates have gone up, home prices have increased, and inventory has been scarce. However, the truth is that this fall may be the perfect time to make your move if you are a buyer. Today I’m sharing three reasons why this is the case:

 

1. Increased listings. According to Realtor.com, we can expect a 17% increase in listings this fall, which will give you more inventory to choose from. When buyers have more homes to choose from, they have more choices.

 

"This fall may be the perfect time to make your move if you are a buyer."

 

2. Homes are taking longer to sell. The increase in inventory means longer market times for sellers. This may give you a bit more negotiating power as a buyer.

 

3. The market is slower. In our local area, September, October, and November are the slower months. With fewer buyers and more listings, buyers will have some options right now.

 

So if you're looking to buy, I encourage you to get out and look at some homes over the next few weeks. You'll have more choices, and you might even get closing costs paid, a price reduction on the house, or some concessions. If I can help you, give me or my team a call at (772) 370-8631. And as always, make it a great day.

Posted in Real Estate Tips
Oct. 16, 2023

What Inspectors Look For in Your Home

 

The three areas that inspectors typically check during home inspections.

Buying a home? Click here to perform a full home search.
Selling a home? Click here for a FREE home price valuation.

 

Here are three crucial aspects to focus on during your next home inspection.

 

1. Roof. When it comes to home inspections on the Treasure Coast, it's essential to pay special attention to the condition of the roof. Inspectors should thoroughly assess the roof's age, the state of the shingles, and potential leaks. Additionally, request a Wind Mitigation report for a comprehensive evaluation of the roof's strapping and overall condition. This report can help you secure insurance discounts. Ensuring a thorough roof inspection is priority number one.

 

"These three areas—roof, air conditioning, and electrical—are your top priorities during a home inspection."

 

2. Air conditioning system. This is especially important given Florida's hot climate. The inspector should examine the attic for any ducts with rips or tears, as air leaks from these ducts can be costly in the long run. Determining the age of the air conditioner is also crucial. Inspectors will assess the differential between the intake and outflow airflow, offering insights into the system's health.

 

3. Electrical system. Don't overlook the electrical panel and the entire electrical system within the property. Ensure the panel is in good condition, up to code, and not a recalled model. Inspectors will also check all outlets and for exposed wires in the attic.

 

These three areas—roof, air conditioning, and electrical—are your top priorities during a home inspection. Other issues can often be addressed with the help of a handyman or similar services. If you have any questions or need assistance, don't hesitate to call or email me.

Posted in Real Estate Tips
Sept. 26, 2023

New Construction Homes: Your Path to Savings and Security on the Treasure Coast

 

These three compelling reasons will make you want to buy a new-build home.

Buying a home? Click here to perform a full home search.
Selling a home? Click here for a FREE home price valuation.

 

Are you in the market for a home on the Treasure Coast and torn between an older property—perhaps 15, 20, or 30 years old—and a brand-new or recently constructed property? If so, today I'll give you three compelling reasons why purchasing a new-construction home outweighs buying a resale property.

 

1. Lower insurance costs. New construction homes come with significantly lower insurance costs. This is due to the fact that these newer homes are built to meet modern building codes. They have features such as securely strapped roofs, durable construction materials like concrete block and stucco (CBS), up-to-date roofing, Dade County-approved window and door coverings, and overall better construction quality. As a result, insuring a new home can be more than half the cost of insuring a comparable home that's 25 to 30 years old.

 

"Purchasing a new construction home can lead to significant long-term savings in maintenance and repairs."

 

2. Better financing options. New construction homes often offer more favorable financing options compared to resale properties. Builders frequently negotiate special financing terms for their buyers, which could include lower interest rates or credits toward closing costs. When you use the builder's preferred lender, you can save a substantial amount of money. In contrast, resale homes, typically owned by individuals, may not offer these advantages when it comes to financing.

 

3. Reduced maintenance costs. Purchasing a new construction home can lead to significant long-term savings in maintenance and repairs. Even with a new roof, older homes often require ongoing updates and repairs. Setting aside a portion of your monthly mortgage payment for future repairs is essential for older properties. Expenses like air conditioning replacement, termite or wood rot treatments, water heater replacements, roof repairs, and general maintenance can add up over time. In contrast, new construction homes are less likely to need extensive maintenance in the near future, resulting in substantial savings over the next decade, particularly when compared to homes that are 25 to 30 years old.

 

If you need further advice on whether to buy a new construction or an older property or have any questions about buying or selling homes on the Treasure Coast, feel free to call me at (772) 370-8631 or send me an email. Make it a great day!

Posted in Real Estate Tips
Sept. 18, 2023

Unlocking Hidden Potential: Can You Assume a Seller's Mortgage in Today's Market?

 

How you can assume a low mortgage rate from your home seller.

Buying a home? Click here to perform a full home search.
Selling a home? Click here for a FREE home price valuation.

 

This week's topic: Can I assume the seller's mortgage? Recently, with interest rates soaring compared to the past couple of years, I've received inquiries from buyers wondering if they can assume a seller's mortgage with a remarkably low interest rate.

 

The quick answer is yes; you can assume most mortgages, but that involves a specific process and a few considerations. Let's explore a scenario where a seller is asking $500,000 for their home, and they owe $300,000, which a buyer aims to assume at an attractive 3% rate, particularly appealing when the average mortgage rate hovers around 7.5%.

 

"You probably need cash to assume a mortgage."

 

However, there are important points to keep in mind. Firstly, the buyer must qualify with the seller's lender, meeting standard pre-qualification criteria, including credit, income, and debt-to-income ratios. Secondly, in nearly all cases, the buyer needs to cover the gap between the $500,000 asking price and the $300,000 mortgage assumption with cash.

 

In this example, the buyer would require around $200,000 in cash, plus additional funds for closing costs. While there's a possibility of using a second mortgage, it's often challenging and unlikely. So, while it is possible to assume the loan, having the necessary cash to cover the difference is essential.

 

I hope this sheds light on this significant question. If you have any more inquiries or need further information, please don't hesitate to email me or call at (772) 370-8631. Make it a great day.

Posted in Real Estate Tips