Tuesday, December 4, 2012

How much out of pocket money do I need?

"Skip, in Pensacola how much out of pocket money do I really need in the bank before I look into buying a house?"

Man I am so glad you asked I just ran into this same question the other day. 

Let's start with your down payment on your loan. There are a lot of loan programs out there so this number can vary from $0 to 20%.   Here is where you need to get with a mortgage expert to look at your specific needs. Here are just a couple of examples, if you can use a government backed program like VA or USDA they usually are a $0 down program.  If you use an FHA product it can be as low as 3.5% of the purchase price of the home. If you go conventional you can usually go with as little as 10-20% of the purchase price down.  Keep in mind here there are a lot of loan programs out there so you need to get with an expert to get the ball rolling as soon as possible.

Your Ernest Money Deposit (EMD) is the next out of pocket we will need to cover.  This is what  I would consider the "old west handshake".  This money is given to hold the contract once an offer is made.  This amount will vary but is usually $500 to 1% of the purchase price. 

Inspections that are requested that are out of pocket may include your home inspection, 4 point(homes older than 20 years), wind mediation & septic inspection.   The home inspection, 4 point, wind mediation can usually be done by the same inspector and rolled together in price.  They can range from $100 to $500 but in this arena you usually get what you pay for.  The septic tank inspection is based on tank size because they have to pump the tank to inspect. These inspections run from $300 to $500 due at time on the inspection.

Here is where I need to insert a disclaimer. I can't say this list is exhaustive, every home purchase is unique and may need other inspections and cost's that I have not listed here. 

Grace & Peace
 
 
 

Skip Geiser
(850) 221-6442
http://www.skipgeiser.com/
The Geiser Team with Main Street Property

 




   

Wednesday, November 28, 2012

Staging the bathroom...Lets get down to business!

When your home is up for sale your bathroom needs to show it!  Here are a few tips you may want to keep in mind...
 
1. Clean, clean and clean some more!
2. Get rid of clutter.
3. Stage a few neutral items to give that "fresh" look.
4. Speaking of fresh...use a room deodoriser to keep that fresh and clean scent.
 
Here is a couple good video's I found to illustrate my points...  
 
 
 
 
 
Grace & Peace
 
 
 
Skip Geiser
(850) 221-6442

The Geiser Team with Main Street Properties

 

Tuesday, November 27, 2012

Real Estate November 2012 Update

November 2012 Numbers

MARKET SNAPSHOT AS OF TODAY
Currently Active (Residential)                                                  3453
Currently Under Contract (Pending & Contingent)    1122
Sold This Month                                                                        245


 




Grace & Peace
 
 
Skip Geiser
(850) 221-6442

The Geiser Team with Main Street Properties
 
 

Thursday, September 6, 2012

Sitting the fence or MISSING the boat?

"Skip, I know home prices and interest rates are at all-time lows, and we've looked at a lot of homes and this last one was the best one yet!  But I'm thinking we should take a couple of days to think about it before we make an offer. What do you think?"

Ok, I'm with you--don't jump into something to quickly and allow a snap decision to get you into trouble.  Let's take a step back and look at this with the big picture in mind. If you are looking at homes and have taken the time to get a pre-approval lettter from your lender, you've already given a lot of thought to this idea of buying a home, right?  Most likely you have spent nights thinking about this and have decided, "This is it, we are going to do it!"  So tell me what is going to happen if tomorrow morning you lose this home to someone who was ready to make the decision--you know, "pull the trigger"? 

"But Skip, buddy, this home has been on the market for three months and no one has snapped it up yet. I think I have a couple of days, really, what is the rush?"

Well, I realize it has been on the market for a while, but in that time there have been other people looking. If they are like you, they wanted some time to think about it, and they may be ready to put their offer in.  Plus as you stated, you have seen the other homes in the area that compare to this one, and it is the one that is the best value in a grerat location.  If you have come to that conclusion, so have three other couples! 

My best advice? If you have thought this through and you are ready to buy a home, you have done your homework, you know a good deal when you see one. . . go ahead make the offer!

 
Grace & Peace....




Skip Geiser
(850) 221-6442

The Geiser Team with Main Street Properties

  

Tuesday, August 21, 2012

My top five if I were choosing an agent too list my home!

"Skip, I interviewed two agents and one said they have been a Real Estate agent for 10 years and the other said 8 years. Should I choose the one with more years in the business?" Great question! The answer is, maybe.
 
"Skip, what do you mean maybe? This is the biggest investment I own...I need your help here!"

Well...you generally judge a tree by it's fruit, right? So, I would ask a couple more questions.

1. How many homes have both agents SOLD in the last three years?
2. Are both agents FULL time?
3. Do the agents have an assistant?
4. Are they well respected with their clients?
5. Do the other homes they have listed look well-represented?

I would start with how many homes they have sold in the last three years, and then divide that into three. This should give you a good number to compare the two agents with. Another great question is are you full time or part time? You want the agent who is going to be able to devote full attention to getting your home sold, not dividing their time between real estate and their other job or responsibilities/hobbies. Along that same line, which agent has an assistant? This matters because it allows your agent to get out there and push your listing to other agents and possible buyers. You may want to get a couple of references to make sure your agent is well-respected with their other clients. Last but not least, go take a look at the other homes they have listed online and see which agent has the best presentation online. Hey, that would be my top five if I were choosing an agent to list my home!


Grace & Peace...




Skip Geiser
(850) 221-6442
http://www.skipgeiser.com/
The Geiser Team with Main Street Property

Thursday, July 19, 2012

3026 CREOLE WAY, PENSACOLA, FL

3026 CREOLE WAY, PENSACOLA, FL
This Landmark Luxury Home features are
Bedrooms: 3
Bathrooms: 2 full
Living Area Approx: 1552
List Price: $Get Current Price








This Landmark Luxury Home features are numerous. This tastefully decorated home is sure to please, from the elegant foyer and throughout each detail in the home....cathedral ceilings, textured spanish lace wall finish and the soft rounded corners in the common areas. Enjoy the the beatiful Pensacola sunrise with a fresh cup of coffee from your back porch..Gourmet kitchen has 42-inch oak cabinets with a lazy susan, crown molding, recessed paneling. Vented-built-in microwave oven with digital range and energy saver dishwasher with garbage disposal finishes this gorgeous kitchen. The great room features a wood burning fireplace with ceramic surround. The spacious master suite has a trey ceiling, lots of wall space..The master bath includes his and her spacious walk-in closets, dual vanities, garden tub, designer mirror, and come with an additional linen closet.. A two-car garage with a 4-panel metal-roll up door, a garage door opener, pull down stair and two flourscent lights and copious amount of storage. All brick exterior, covered front & back porch, monitored alarm system, seamless gutters, privacy-fenced back yard, 12-SEER heat pump. Make an appointment today to see this home. With so much to offer, you won't be disappointed!

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Friday, June 29, 2012

How to survive a short Sale

Skip what is a short sale?  It is a process where a lender agrees to take less money for a mortgage than is actually owed.  In other words, let's say a homeowner owes $100,000 on their home, and for some legitimate reason, (job loss, health or under employment) they are unable to make their house payment.  On top of that, because of the reduction in home values over the past few years, the home on the open market is only worth $85,000.  The bank will sometimes agree to take less than is owed by the current homeowner to keep from having to go through the foreclosure process. Let's see if this video makes it more clear.

  
"Ok, so I understand what a short sale is, but what does that mean to me?" 

Let's start with our sellers out there who are unable to make their payments, or are maybe very close to that point.  Well, if you are the homeowner who is faced with inability to pay your mortgage, then keep in mind...there is hope.  You just need to get some good advice and move forward, so as to avoid a foreclosure.  Don't wait. Time is not on your side. You need to sit down with an agent, or a real estate attorney, so you can make the best desision.

"Well, Skip, I am not having a problem making my mortgage, and I owe less than my home is worth, so this doesn't affect me, right?"  Wrong!  If a home in your neighborhood is sold as a short sale or a foreclosure, your value WILL be affected. This means less money in your pocket when you decide to sell.  If you don't plan on selling, and you purchased your home more than five years ago, then I have to agree--you are only losing money on paper, and hey, your tax bill will just look better. 

"Hey wait, Skip, I am a buyer on the market, and I have noticed there are a lot of short sales on the market. They seem to be priced really good." Just keep in mind that a large percentage of these homes have not been approved by the lender.  Let's insert an example here to clear this up a bit.  Let's go back to our example, the seller has a home that they owe $100,000 and it will only appraise for $85,000.  Now let's just say our sellers have put this home on the market and they are asking $86,500 for it, and you go look at it and fall in love...it is the best home you have seen in your price range, so you make an offer for $85,000.  The sellers sign the offer, and the sellers' agent sends it off to the bank for their approval.  Much to your disapointment, a few weeks later the bank has countered your offer at $89,300.  "Skip....What?...they were only asking $86,500 to begin with!" Ahh, yes...the SELLERS were only asking the $86,500, but they had not yet received the approval from their lender, so the lender is now in the driver's seat and they have countered your offer. "Wait, Skip, you said the home would only appraise for $85,000."  Yes, and you can still counter the offer the bank sent to you and include a Current Market Analsis, or CMA, along with your offer to get them to reconsider your offer.  This will sometimes work as long as you don't need to get into a home in the next 30 or 45 days.  The process will usually take a couple of months from start to finish, then add on the usual 30 or so days to close. Also, keep in mind there are some short sales that are much longer.   You can stipulate in your purchase contract you are only going to give the lender a specific time frame to close, and if it goes any longer you will be released from you obligation to purchase.  Let's insert a video to illistrate my point.


     
 "So, should or shouldn't I buy a short sale home?"  The answer is yes...no...well, maybe!  Talk to a Realtor, and they can give you the best advice that will fit your unique situation.

Grace & Peace....




Skip Geiser
(850) 221-6442

The Geiser Team with Main Street Properties

Tuesday, June 26, 2012

If real estate was a candy bar it would be a...

I am conststantly being reminded how entailed the process is that we call real estate.  Whether buying, selling, renting or flipping we call it all "real estate".  Is this really enough to just call it real estate?  That is like just calling all the candy in the gas station...well...just candy bars!  You know what I mean, what if you were walking down the candy aisle and all the packages just said the same thing?   Think about the advertising that goes behind each type of candy bar. Twix...Two for me none for you; M&Ms...Melts in your mouth not in your hands, & Reese’s Peanut Butter Cups...You got chocolate in my peanut butter! I really think we could get a little more original here in real estate too!  How about for buying a duplex we use the twix slogan...Two for me none for you, or if the buyers want a home that is not in a neighborhood we use the Butterfinger slogan...Break out of the ordinary.  If you are selling, and have been on the market for a while, the slogan for a Tootsie Pop...How many licks does it take to get to the Tootsie Roll Center of a Tootsie Pop? The world may never know. Or if the seller gets a really low offer you can use the Kit-Kat...Gimme a break.  Let's move over to the renters who are not ready to buy yet they can use the 3 Musketeers...A lighter way to enjoy chocolate.  Even better yet, how about our investors who bought at the high in the market using the Whatchamacallit. It’s more than a mouthful! Or how about the investor who is really anxious to buy their next investment using Snickers slogan...Hungry? Why wait? Ok, ok, I'm done but I am sticking to my guns--we are way to boring in our verbiage!   I know we Realtors could use the Mounds and Almond Joy slogan....Sometimes you feel like a nut. Sometimes you don’t!

Grace & Peace...



Skip Geiser
(850) 221-6442
http://www.skipgeiser.com/
The Geiser Team with Main Street Property


   

Just Listed...500 Turnberry

 

Great, New Listing in Turnberry Subdivision!

 
 
JUST LISTED
 
 

Profile Image

Courtesy:

SKIP GEISER

Main Street Properties, Inc.

850-221-6442

skipgeiser@live.com

Licensed In:
Florida

 
 

500 TURNBERRY RD

CANTONMENT, FL 32533

Bedrooms: 4

Bathrooms : 2 (2 full)

List Price: $155,000

Living Area Approx : 2194

 
 

Great, New Listing in Turnberry Subdivision~~where it`s often difficult to find a home for sale! Take a look at this home, ready for its new family! There is plenty of room to spread out in this almost 2,200 square foot home! This four-bedroom home has the versatility that is needed, and the front bedroom has vaulted ceilings and a gorgeous arched window that makes it perfect for an office! Each of the four bedrooms are generously-sized as well. The master suite is the perfect place to relax after a long day! The master bedroom is large with plenty of room for all of your furniture (and more)! The master bath has a upgraded, high end garden whirlpool tub for that end-of-the-day relaxing soak! There is also a separate shower and a double vanity for convenience! The floor plan is inviting and functional. With two dining areas, this home makes entertaining a breeze. The kitchen is warm and has a modern feel--pleasing even the choosiest of chefs. The back yard has a nice, open deck great for those summer BBQ`s, and the back yard is privacy-fenced, making a great place for the kids or pets to play! The home has a sprinkler system (on a well) making lawn maintenance a breeze, and the large, corner lot gives great curb appeal. The side-entry two-car garage makes parking a cinch, and the security system gives peace of mind! There`s so much that this home has to offer~~along with the convenient location, it`s hard to beat! Make an appointment today to get the ball rolling on making it yours!

 
 

Feature List:

MLS#: 428401

PropertyType: Residential

PropertySubtype: Single Family Detached

Lot Size: 0.32 acres

Appliances: Dishwasher, Garbage Disposer, Microwave

ArchitectureStyle: New Traditional

IsNewConstruction: No

ParkingTypes: Garage

 
 
 

 
 
L2L


Monday, June 25, 2012

Just Listed...4991 Bellview Ave

 

Make this your new home! As

 
 
JUST LISTED
 
 

Profile Image

Courtesy:

SKIP GEISER

Main Street Properties, Inc.

850-221-6442

skipgeiser@live.com

Licensed In:
Florida

 
 

4991 BELLVIEW AVE

PENSACOLA, FL 32526

Bedrooms: 3

Bathrooms : 2 (2 full)

List Price: $120,000

Living Area Approx : 1676

 
 

Make this your new home! As you walk through this home, you will quickly decide that this is the home you`ve been looking for! Very modern and tastefully decorated, you will be proud to call this one yours! Walking in, you will notice the light and bright feel making for a very pleasant atmosphere. The floor plan is very versatile and functional and flows well, and makes entertaining a breeze! There have been many updates and upgrades to this home that will make home ownership carefree! Take a look at the pictures to see the quality of lifestyle that this home affords! The location of the home is very convenient as well. It is within walking distance to school, and is very close to eating and shopping. Note the great features you will enjoy once this home becomes yours! Newer heat pump (9/11)~~newer appliances (including a smooth-top convection range)~~Two pantries in the kitchen for easy organization~~great built-in nooks to display your prized possessions~~cozy fireplace~~whirlpool tub in master bath (plus separate shower)~~large, privacy fenced back yard~~open patio great for BBQ`s~~two-car garage for easy parking~~great curb appeal~~plus so much more! Take a look at this home today, and let`s get started on getting you in your new home!

 
 

Feature List:

MLS#: 428399

PropertyType: Residential

PropertySubtype: Single Family Detached

Lot Size: 0.23 acres

Appliances: Dishwasher, Garbage Disposer

ArchitectureStyle: New Traditional

IsNewConstruction: No

ParkingTypes: Garage

 
 
 

 
 
L2L