Are you wondering about Local Real Estate Market Conditions in Palm Beach County, FL?

Palm Beach County Market Conditions Year over Year to Date

Confused by the media's take on Real Estate in Palm Beach County well look no further.

According to Last months figures prices are up. . .inventory is up and the market is moving quicker than this time last year. Think about making a move in Palm Beach County is might be a great time to Sell Your House! For more information, or to just talk Real Estate, give me a shout at info@jillsellshomes.com

  

Looking for the perfect Florida Beach Oasis . . . Look no further meet,BEACH FINDER

Spotify. . . But for The Beach 

With 825 miles of Florida beaches to plant your beach umbrella on, picking just the right spot for you and your family can be daunting. Do you want adventure or laid-back beaches? Family friendly or picturesque romantic setting?

On Monday, Visit Florida, the state’s tourism and marketing arm, launched some high-tech tools to help visitors find just the right beach for their summer vacation.

The Florida Beach Finder allows travelers to virtually walk hundreds of miles of beaches — from legendary locations such as Miami’s South Beach to lesser-known sanctuaries like Cayo Costa off the west coast of Florida. Here’s how it works:

Go to www.VISITFLORIDA.com and click on Florida Beach Finder. Then “tune” your preferences by moving four dials/red-dot sliders up and down to adjust your beach personality, with preferences ranging from action-packed to secluded and somewhere in between. The beach finder displays different pictures that best match your preferences, and the visual options change with every tweak of the tuner.

You can also virtually walk the beaches with Street View imagery in Google Maps. Last summer, Google spent four months photographing Florida beaches to create panoramic views of every beach in the state. It was Google’s first large-scale beach-mapping project and now all of those images — Google Beach View — are available on Visit Florida’s site.

Nearly 95 million people visited the Sunshine State in 2013. With tourism being the state’s top industry, these high-tech tools will allow visitors to locate their dream beach and dip your virtual toes in the sea even before you talk a stroll on the sand. 

And to remember that fabulous beach vacation, Visit Florida is also launching a tool called Floridagrams where visitors can make a mini-movie of their trip and then share it. Users can upload up to five pictures of your beach vacation into the website, pick a story with an audio narration, and then email it to friends and family what a great momento!!

Check it out at:  http://www.visitflorida.com/en-us/beach-finder.html

Buying a Home After a Divorce

Buying a home after a divorce has some considerations

Going through a divorce can be an emotionally challenging and financially sobering process. 

Deciding whether it is best for you to rent or buy requires asking yourself some really important questions:

Do you qualify to buy a new home and can you afford it? 

Does it make sense for you emotionally? 

Does it make sense for you financially?

Do you qualify and can you afford it?

If your spouse was the primary wage earner, you didn't work and you owned your house together and are selling it, you may or may not have enough cash, work history and proof of income to buy a home. If you both worked and your income and credit score is high enough, then you probably will qualify to purchase a home. The general requirements for home purchase are: A 20 percent down payment, W2 forms or bank statements to show income, job stability and a credit score at least in the high 600s to low 700s. However be cautious on qualifying for more than you can realistically afford.

Does it make sense for you emotionally?

Ask yourself some serious questions:

• Do I want to be saddled with the responsibility of a mortgage now?
• How soon will I want to start dating again?
• How long do I think I want to live in this next home?
• Where do I want to live? For example, living on the outskirts of town may be nice, but if you are planning to be back in the dating scene soon, a location in the center of town or close to it makes much more sense. 
  
  

Does it make sense for you financially?

Some questions are related to your emotional state. If you feel that you will remarry soon and want to live together with your new partner under the same roof, then purchasing a home may not be the wisest decision. You may not recoup the initial costs that are associated with a home purchase in the few years that you may live there. It usually takes at least five years of home ownership for this to make sense as you may not have built up enough equity. It is a general rule of thumb that paying money on a mortgage and building equity in a home is preferred to paying rent to a landlord. But, if you will be living in a home for only a short period of time, it may not make sense unless you were able to pay cash for the home or put down a major portion of the purchase price in cash, which equates to having only a small mortgage to repay. 

What kind of home do you want and what kind do you need?

If it makes sense for you to purchase a home at this point in your life, take the time to think about your wants and needs. Be careful about feeling that you must have exactly the same size and type of home you left. You may need to downsize for practical reasons. At the same time, you have to think about how much room you actually need. How many bedrooms? Do you need a full size garage or do you need a garage at all? If you didn't receive custody of the children, how many children will be staying over and how often?

It may work out that you qualify to buy more home than you can really afford, so be careful that you do not consider a home that is too expensive for you to keep up with the payments.

Get professional advice

It pays for newly divorced individuals who are unclear about their financial situation to get professional advice. These professionals are out there and if you aren't sure how to get in touch, contact the National Association of REALTORS® and the National Association of Personal Financial Advisers to find someone that you can talk to. Speaking with a knowledgeable Realtor and financial adviser will help spell things out clearly so you can make a wise decision.

Mo MONEY . . . MO Problems?

If you are wondering, "How much money can I borrow for my house purchase?" No money or need money or wondering what other monies you need . . .

 The answer is; it all depends. 

Depending on your target monthly payment or annual income and a few other factors that might not be on your radar, this affordability calculator will tell you the price of the home you can afford and the amount of money you can borrow.

Your affordability is calculated based on the percentage of your income spent on monthly debt. Most lenders limit how much of your monthly income can pay debt such as mortgage payments, car loans, and student debt (this is called Debt-to-Income ratio). The conventional limit is 36% of your monthly income, but this could be higher for FHA loans. Your remaining income after debt and taxes should be enough to cover living expenses and savings goals. It is also wise to have cash set aside to pay for any large unexpected repairs or financial emergencies.

If you are considering an FHA loan for 2014 in the S.Palm Beach Area beware that there are a changing.   Coming into 2014 changes will affect how much house you can purchase with an FHA loan . . . Come January they are reducing this max loan amount to $625,500 and they are reducing the max limits in most areas across the board.

PALM BEACH COUNRTY in 2013 Current Limits:  

            Single Family $423,750

            Duplex            $542,450

            Tri-Plex           $655,700

            Quad-Plex      $814,900

2014 Standard/High-Cost FHA Loan Limits

The ceiling (i.e. maximum loan limit) varies by county and if you’re shopping for an FHA loan, it’s crucial to make sure your desired home fits within these designated guidelines. Designated high-cost areas apply to approximately 70 metropolitan areas, including Los Angeles, California; New York City, New York; as well as the District of Columbia/Washington D.C. Below are the minimum to maximum loan limits in 2014:

Single Family Home   $271,050 to $625,500

Duplex                          $437,000 to $800,775

Tri-Plex                         $419,435 up to $967,950

Quad-Plex                    $521,250 up to $1202,925

Annual income

This is the combined annual income for you and your co-borrower. Include all income before taxes, including base salary, commissions, bonuses, overtime, tips, rental income, investment income, alimony, child support, etc.

Down payment

This is the amount of money you will put towards a down payment on the house. Make sure you still have cash left over after the down payment to cover unexpected repairs or financial emergencies.

Monthly debt

Include all of you and your co-borrower's monthly debts, including: minimum monthly required credit card payments, car payments, student loans, alimony/child support payments, any house payments (rent or mortgage) other than the new mortgage you are seeking, rental property maintenance, and other personal loans with periodic payments.

Do NOT include: credit card balances you pay off in full each month, existing house payments (rent or mortgage) that will become obsolete as a result of the new mortgage you are seeking, or the new mortgage you are seeking.

Interest rate

This is the interest rate for the loan you will receive over the term.

Debt-to-income (DTI)

Your DTI is expressed as a percentage and is your total "minimum" monthly debt divided by your gross monthly income. The conventional limit for DTI is 36% of your monthly income, but this could be as high as 41% for FHA loans. A DTI of 20% or below is considered excellent.

Income taxes

This is an annual tax that governments place on individuals' income. It includes federal tax. The national average is around 30% but can vary based on income, location, etc.

Property taxes

The mortgage payment calculator includes estimated property taxes. The value represents an annual tax on homeowners' property and the tax amount is based on the home's value.

Homeowners insurance

Commonly known as hazard insurance, most lenders require insurance to provide damage protection for your home and personal property from a variety of events, including fire, lightning, burglary, vandalism, storms, explosions, and more. All homeowner's insurance policies contain personal liability coverage, which protects against lawsuits involving injuries that occur on and off your property.

Mortgage insurance (PMI)

Mortgage insurance is required primarily for borrowers with a down payment of less than 20% of the home's purchase price. It protects lenders against some or most of the losses that can occur when a borrower defaults on a mortgage loan. Also known as PMI (Private Mortgage Insurance).

HOA dues

Typically, owners of condos or townhomes are required to pay homeowners association dues (known as HOA fees), to cover common amenities or services within the property such as garbage collection, landscaping, snow removal, pool maintenance, and hazard insurance.

Loan term

This is the length of time you choose to pay off your loan (e.g., 30 years, 20 years, 15 years, etc.)

All of these elements are important to consider when speaking with your Real Estate Agent/Realtor and Lender. I encourage you to generate a list and to really explore any questions honestly with your House Hunt Team!

And for your entertainment "Mo Money doesn't mean Mo Problems": http://www.youtube.com/watch?v=gUhRKVIjJtw

As always I am glad to talk real estate at: 

JillSellsFLHomes.com

Or email me at: info@jillsellsflhome.com

A Love Note about Boca Raton

In Spanish "Boca" means "mouth" and "Ratón" means "mouse" (not "rat" as is it is commonly mistranslated.) However, in nautical terms the word "Boca" refers to an inlet. The original name

"Boca de Ratones" appeared on eighteenth century maps associated with an inlet in the Biscayne Bay area of Miami. The beginning of the nineteenth century, the term was mistakenly moved north to its current location on most maps and applied to the inland waterway from the closed inlet north for 8.5 miles, which was called the "Boca Ratones Lagoon". The word "ratones" appears in old Spanish maritime dictionaries referring to "rugged rocks or stony ground on the bottom of some ports and coastal outlets, where the cables rub against".

The first settler was T. M. Rickards in 1895 who resided in a house made of driftwood on the east side of the East Coast Canal south of what is now the Palmetto Park Road bridge. He surveyed and sold land from the canal to beyond the railroad north of what is now Palmetto Park Road.

In the early 1900’s Boca Raton was a tiny agricultural community, many of the farmers specializing in pineapple cultivation. In May of 1925, the Town of Boca Raton was incorporated at the height of the Florida land boom. The town council commissioned noted society architect Addison Mizner to plan a world-class resort community. The exclusive hotel, was known as the Cloister Inn and was completed in 1926. It continues its reign as a city landmark as the Boca Raton Resort and Club. Although many of Mizner’s plans for the young community were stopped by the end of the land boom in 1926, a few of his architectural triumphs remain today but his style continues to influence the city and South Florida landscape. The 1969 addition of its "Pink Tower" hotel building is visible from miles away as a towering monument on the Intercoastal Waterway.  

Japanese farmers of the Yamato Colony  converted the land west of the city into Pinapple Plantations  beginning in 1904. The Japanese heritage of the Yamato Colony survives in the name of Yamato Road (NW 51st Street) just north of the airport and at the Morikami Museum and Japanese Garden just                                                                                     North West of the City in Delray Beach.

During WWII, much of their land was confiscated and used as the site of the Boca Raton Army Air Force Base, a major training facility for B-29  bomber crews and radar operators. Much of the airbas was later donated to Palm Beach County and later become the grounds of Florida Atlantic University and Boca Raton Airport, many of whose parking lots are former runways of the airbase; when viewed from above, the site's layout for its previous use as an

In 1991, the new downtown outdoor shopping and dining center, Mizner Park, was completed over the site of the old Boca Raton Mall. It has since become a cultural center for the southern Palm Beach County. Featuring a landscaped central park between the two main roads (collectively called Plaza Real) with stores only on the outside of the roads, Mizner Park resembles a Mediterranean suburban "town center" with a more contemporary look. It features many fine restaurants an outdoor amphitheater where concerts are frequently held and it is also home to the Boca Raton Museum of Art. Mizner Park has significantly aided downtown revitalization.

Boca Raton is the second most populous and southernmost city in Palm Beach County. It is located on the east coast of Florida between Delray Beach to the north and Deerfield Beach, of Broward County, to its south. Boca Raton is the core of the south Palm Beach Country metropolitan community, offering beautiful parks, beaches a unique quality of life that is coveted by many, I recommend that you visit and get to know Boca Raton! 

A few 60 Minutes to Home Improvement Recommendations

Below are a few helpful, quick and inexpensive tips to freshen up your home. Especially if you are starting to consider listing your home on the market in the near future. These tips make the difference buyers putting an offer on your home, and the one prospective buyers saw down the street! Many of these tips can be completed in 60 minutes . . . 60 minutes to SOLD!!   

Freshen Up an Old Room With Paint

Inexpensive and easy. Pick a fresh bold color then use it to paint just one wall in a room. Covering only one wall will cost less and won’t take as much time as painting the whole room.

Switch Out Your Faucet

Sick of your leaky faucet? If you can wield a wrench, you can easily install a new faucet. Before you start the job, turn off the water supply. Then just unscrew the connections from your old faucet and screw in your new faucet. Add an aerator, and you'll lower your water bill at the same time.

 

Clean Your Dryer Ducts

If your dryer doesn’t work as quickly as it used to, lint could be the culprit. Buildup not only affects efficiency, it also increases your risk of fire. To clean your ducts clean your ducts first you’ll need some muscle to move your dryer away from the wall. Then you just need a vacuum, I recommend investing in a shoppe vac. Unplug the dryer, disconnect the ductwork, and vacuum out the ducts as well as you can.

Inspect Your Electrical

Conduct an audit of your outlets. For childproofing purposes, insert outlet covers into unused wall and power strip outlets, and secure any loose wires. For general safety, look for overloaded circuits and power cords, and adjust as necessary. Frayed cords should be replaced as should any light switch that is hot to the touch.

 

Build Raised Flowerbeds

You can build an 8-foot-square garden bed in less than an hour, using eight 8-foot-long sections of pressure-treated lumber, screws, construction adhesive, and landscape adhesive. Using a saw and a drill, cut pieces to size and secure them together. Add landscape fabric to the base to prevent the growth of messy-looking weeds this can add instant charm and interest.

 

Scrub Your Pathways

Sidewalks, walkways, and driveways can become stained by wet leaves, rain, mildew, and automotive leaks. Get rid of these eyesores with a thorough power-washing. Makes a big impact. 

 

De-Grime Your House

With a pressure washer, there’s no need to crawl on the roof to clean your gutters—just aim and spray. A pressure washer can also clean grime off your gutters and your stucco walls as well. It can even be used to clean your second floor windows. Just be sure that all your windows are securely closed before you start.

 

Update Your Hardware

Once you select new door-knob or cabinet pulls, installation often requires nothing more than a screwdriver. To mount pulls on doors that never had them before, create a template to ensure that you drill your holes in the same spot each time. 

Install Weather-stripping

Weather-stripping will make your home more comfortable while ensuring that your AC and Heating Equipment won’t have to work so hard to cool and heat your home. Permanent weather-stripping, which has adhesive, is recommended around doors and windows that are opened throughout the season. For windows that will stay shut until fall, consider temporary weather seals or sealant that peels off when it’s no longer needed.

To err is human . . . but don’t err on having your future home Inspected

 Mistake No. 1: Not having new construction inspected

Even experienced homebuyers sometimes make this rookie mistake. They assume that because a home has passed all local codes and ordinances, it must be in good shape. Don't be so sure. I have seen and heard of brand new homes that had just passed the final municipal and county building inspections. But when a certified inspector explored the crawl space beneath the house, they discovered someone had removed about 3 feet of the home's main support beam to accommodate duct work.

Thus the house was already beginning to sink in that area. The moral of the story: Don't assume your builder -- or the contractors -- did everything right just because the home passed code. An inspector is your last line of defense against major defects that could quite literally sink your financial future no pun intended.

Mistake No. 2: Choosing an inspector for the wrong reasons

When you choose an inspector, you're selecting the professional who will give one of your biggest investments a full physical checkup, just like a physician gives you a physical. You want to choose someone you know who is competent, thorough and trustworthy. Unfortunately, too many buyers just go with the cheapest inspection company or the one recommended by their Realtor, do you homework, this is usually your biggest investment!

If you want a referral from your real estate agent, ask for two or three different names, and then interview each one to determine who you feel most comfortable with. Always ask about licensing, professional affiliations and credentials, and whether the inspector carries errors and omissions insurance.

Mistake No. 3: Not going along on the inspection

The written report you get from the inspector doesn't give you nearly as clear a picture of the condition of the house as you might think. It has been shown that buyers who don't go along on the inspection can overemphasize minor problems, or worse, not realize how serious a defect is. You really follow along with the inspector; ask lots questions and REALLY LISTEN when he gives you his professional opinion on the house, villa or condo.

Mistake No. 4: Not following up on the inspector's recommendations

Sometimes, buyers don't follow up on items discovered in the inspection before they close. Like the man who didn't grasp that the carbon monoxide coming from his water heater was a big problem, you may not realize how much it will cost to fix a given defect. Often inspectors will recommend buyers get an issue evaluated further, but the buyers wait to do it until after closing this could yield more expensive than anticipated results. You should always get several estimates on repairs before closing, and you should feel comfortable calling your inspector to discuss these estimates.

Mistake No. 5: Expecting your home inspector to be a Clairvoyant

No matter how experienced or skilled your home inspector is, he can't see the future; they don’t have a crystal ball. I urge you to be realistic and cautiously optimistic many homebuyers think a system still has a few good years just because there aren't visible signs of malfunction at the inspection.

A home inspector can tell you that an A/C system like the one in the home you're buying usually only lasts 10 years, and yours is 11 years old. But keep in mind he can't tell you exactly when it will fail. That's when you need to follow up with people who know more about each specific system, they have the knowledge and skills to answer your questions.

The home inspector is hired by you! The inspector is there to give you an honest straight 3^rd party objective opinion about the property. They're paid to inspect, not to sell. So they're in a better position to be neutral and to be your conscious about additional cost you could incur in the future as a homeowner.