May 29, 2006

I just came across an excellent deal in South Tampa. It is a 3 bedroom, 1 bath, 1125 square feet with new A/C unit, floors, doors, windows, bigger than average lot size, etc. This is ready to move in, and the neighborhood is great (up and coming south of Gandy)!

The owner is asking $183K....if you've been looking around for property, anything under $200K in South Tampa virtually does not exist anymore. The owner is looking to sell quickly. He probably will be listing it on the MLS next week. So now is a good time to get this before it is gone.

If you qualify, I can get your payments (p+i) on this house to be $610 per month with our "Pick-a-Payment" program. Investors: You can probably get $1200 per month rental income on this property, so you'd positive cash-flow at the start.

Call me at 813-748-2505 if you want to know more about this property.

May 16, 2006

A colleague of mine just passed along an excellent investment opportunity. Here is what he sent me:

"an exciting way for you to purchase pre-construction homes with no money down and priced 10% below appraised value in the Sarasota/Charlotte/Highlands County areas. Attached, please find an overview of the program.

North Port, a city located between Sarasota to the north and Ft. Myers to the south, has all of the demographics that we seek for investment and is the affordable housing center for both Sarasota and Ft. Myers areas. Homes in Sarasota County are increasing in value rapidly. Prices for new homes in North Port range from $200,000-$350,000 and there is a ready pool of potential rental tenants. We can offer you the following investment opportunity:

Purchase of a Pre-Construction CCI Home with an appraised value 10% greater than your VIP price - current models to choose from are - The Key West II - 2307 living SF; or the The Lido - 2116 SF - each home is 3 bedrooms and 2 baths with a 2 car garage on a lot of approximately 1/4 acre.

* A $3500 fee to SunCoast Properties is required to secure your spot and to lock in pricing.

• The Key West II - 23017 SF - Standard Retail Price = $308,000 - VIP Price = $278,000

• The Lido - 2116 SF - Standard Retail Price = $292,000 - VIP Price = $263,600

• Prices includes the cost of the lot, improvements on the lot, permitting, closing costs, mini blinds, septic & well, appliances (refrigerator, stove, dishwasher, washer & dryer), and standard landscaping."

For those that don't know the area, the Sarasota / Bradenton area is highly desirable with access to excellent beaches, fine restaurants, schools, the arts, golf courses, etc.

Because of its desirability, the real estate market was one of the hottest in the country the past few years with average price increases of 33%. The average priced house in that area is now approximately $340K. That price, of course, is out of reach for many potential homebuyers. What's happening in Sarasota (like many cities) is that more and more people are willing to sacrifice a longer commute in order to have a more affordable house. This is a change from when I used to live there in the 1980's and 1990's, when it was basically a retirement town.

What does this all mean? I believe towns like North Port, Englewood, Venice, etc. will probably experience above-average growth rates in appreciation the next few years. Now is a great time to act on an investment like the one above. Please call me (813-748-2505) for a free consultation and I can tell you more about structuring the proper loan for your investment purposes.

May 11, 2006

Remember when your parents told you that you should not judge a book buy its cover? Generally speaking, they are correct. But when it comes to home buyers judging a potential house for purchase, they very much will judge the inside by the way it looks on the outside. First impressions are very important.

So to get more potential buyers to get inside your house, you need to spruce up the outside. Here are some tips that will increase your house's "curb appeal", attract more visitors, and perhaps increase the value as well:

• Make sure the exterior paint is in good condition. Particularly by the doors and windows. If there is any paint that is cracked or peeling, it is a good idea to scrape it clean, and apply some fresh paint.

• Check the decks, driveways, porches, etc. If they are moldy, or dingy- looking, a good power washing will enhance its appearance.

• Remove any unnecessary garden tools, toys, engine blocks, pet remnants, etc. You want to keep things as uncluttered as possible.

• Trim any tree limbs that are touching the house. Hedge any bushes that need a good hedging.

• Keep the lawn mowed as much as possible and get to those nasty weeds that you've been procrastinating about.

• Rake up and dispose of any old leaves.

• Brighten up the entry-way with some flowers and potted plants including chrysanthemums and geraniums. Or any other attractive plant. Any of those famous home improvement stores have a good selection.

• Don't forget about the evening "curb appeal" i.e. string some low voltage lighting along your driveway, sidewalks, etc. You may also consider a decorative street lamp or some other light fixtures.

So don't forget about the all-important first impressions when you are about to put your house on the market. Especially since we are now in more of a "buyer's" market, as opposed to the past few years. Good luck in your house selling!

May 8, 2006

An interesting article appeared in the Tampa Tribune yesterday indicating that Pasco County is the sinkhole capital for the state of Florida. Certainly not an honor that Pasco County would like to have. Nonetheless, most of the reported sinkholes since 1970 have been along the western portion of the county, along US 19.

And with more and more development in the county, there has been an increasing number of sinkhole claims filed with the insurance companies. Many of which are struggling to operate in light of the last two busy hurricane seasons.

Take a look at what is happening to your homeowners insurance premium in regard to the percentage that applies to sinkhole claims:

• 1992 percent of a homeowner's insurance premium = .05%
• 2005 percent of a homeowner's insurance premium = 3.7%

Sinkhole claims cost the state insurers $67 million a year.

According to the article, you have a 1 in 100 chance of experiencing a sinkhole in any given year in the Tampa Bay Area. The odds are pretty low, but if you want to see if your property has ever been reported as having sinkhole activity, check out the link below:

http://www.dep.state.fl.us/geology/geologictopics/sinkhole.htm

May 1, 2006

Going through the mortgage process can be a tough chore. There are so many options and choices available. The many products offered by the lending institutions are constantly changing. And more are being added all the time.

In fact, there are types of mortgages today that did not even exist a few years ago. The consumer is faced with more options than ever. With so many choices, how do you know which mortgage is right for you? And now with real estate prices rising considerably, you want to make sure that you pick the right mortgage. The stakes are just too high. Even just a quarter point (.25) difference in interest rate, can mean thousands of dollars over the life of the mortgage.

You work too hard for your money not to get the best deal. You should expect it. Whether you are looking to:

refinance for a better rate or term

consolidate your debts

purchase your dream house

or purchase your first house

You need someone that will stand by you all the way through the process, and someone that will find you the best loan for your circumstances, and explain it to you in clear English. I can help you determine the right mortgage for your needs.

Please call me for a free consultation.

I look forward to helping you.

Larry Aiello
Mortgage Consultant