Posts Tagged ‘St. Augustine Real Estate’

Selling Homes in St. Augustine: How We Market a Home Beyond the MLS

Friday, August 13th, 2010

by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com).   Follow us on Facebook.

What do Realtors do to “market” a house beyond putting it on the MLS…

I found this question while trolling the real estate blogs this morning.  It’s a good question.

So I did a post on the company site this morning to answer it:  There are four different ways to market a home besides the MLS.   I hope you enjoy the post!

Are You a St. Augustine Tourist + Moron= Touron? Find Out Here.

Wednesday, August 11th, 2010

by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com).   Follow us on Facebook.

We love our tourists in St. Augustine.  We are grateful for their business and that they decide to spend their money and their time here.

However, there are always a few that bring their bad taste along with their awful beach tents.  These are Tourist Morons, or “Tourons” to those of us who live here.  As such I bring you the Second Annual Touronathon, or, Things Not to Do to Look Like a Touron.  It must be something about late July or August that brings the touron out, because my Touron Blog Post from last year was posted about the same time.

  1. When the tide forces you to move, do not put your stuff on top of other people’s stuff.  Close to the pier where the space is tight, it’s a little harder to find wiggle room and you might have to move down the beach.  But on down the beach there’s room for everybody…so when you move don’t drop your 57 pounds of paraphernalia, 6 beach chairs, three wet towels, cooler and radio on someone else’s towel or sandals.  This has happened twice to me this year…on wide open stretches of the beach.  I personally don’t mind, but when you put your stuff down on my four-year old’s stuff, then we have a problem.
  2. Do not, and I repeat, do not fish in the surf where people are swimming and surfing.  Fish at the pier, in the state park, Vilano, Crescent beach a bit north or south of Beacher’s Lodge, or any other open stretch.  Not A Street ramp.  Pretty much not A Street north to 16th.  There are kids in the water and those huge treble hooks can cause some damage.  You’ve got the entire coastline to work with…why are you in an area packed with bathers?  Those surfers may look mellow out there but if they see your lines they’ll treat you like Carl Spackler treated Judge Smails: they’ll cut your achilles tendon.  You’ll never cast right again and you’ll give up fishing.
  3. This next one is kind of a push: footballs at the beach.  It’s not really a touron thing, but it does scream “I haven’t seen beach sand since I was at Lake Lak-A-Pooka-Mucky when I was six.”  Since tossing the football at the beach is mostly the activity of high schoolers I’m inclined to give it a pass (no pun intended), but just make sure you can throw the thing with some accuracy.  No one likes a bomb from the heavens landing in their lap.  The same thing goes for horseshoes and cornhole at the beach.  In fact cornhole screams, “I just escaped from Wisconsin.” 
  4. The dangerous dog thing again from last year: don’t bring them to the beach.  And for goodness sake don’t leave them off leash.  Pit bulls + kids equals jail time, euthanization of the dog, and a civil judgment in the millions if anyone gets hurt.  I love seeing dogs on the beach, just not your inferiority complex that requires the need for a dangerous dog at the beach.  

Moving to St. Augustine: Buy Now or Wait for the Fall?

Monday, August 2nd, 2010

by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com).   Follow us on Facebook.

Saw this posted on a real estate forum this weekend: “Should I buy now or wait for the fall?”

You would be absolutely nuts to wait, if you can afford to buy a home now.

For single-family homes, prices should still be good until the end of the year, if not into early next year.  That’s not what you have to worry about.

But do you like a low home payment?  Oh, you do.  Well, interest rates are the best–ever—right now.  Through the real estate boom and the real estate bust we’ve always had excellent rates:  7.25 back in 2001, 5.5% in 2006, but below 5% like they are now…the best—ever.  Assuming you want to pay less every month and you like the homes you are seeing right now, take advantage of the situation.

The second thing: inventory in single family homes is getting less and less each month.  Price points that I saw in certain places back in May are in some cases $35,000 higher now.  That doesn’t mean prices have suddenly shot up, these are good market prices.  But the below-market stuff is goooone.  There are even less short sales and bank-owneds to choose from.  As the inventory winnows down you will have less and less to choose from going forth.

For condos there is still plenty of supply.  My advice there would be to drive the hardest bargain you can.  Move on to choice #2 if the first seller won’t deal. 

You may think this is a bit disengenous having condos listed ourselves.  But we need the buyers, any buyers, to get the condo market kick-started and get some things sold.  Sellers won’t move off the price unless they see the market is moving without them.  For a buyer this is the time to cherry pick before all the looky-loos see the market turning and jump off the fence.

Selling in St. Augustine: Banks Hitting “Buy and Bail” Sellers with Deficiency Judgments

Wednesday, July 28th, 2010

by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com).   Follow us on Facebook.

I just did a post on the company website this morning: banks are hunting down “buy and bail” sellers as part of the short sale process in order to pursue deficiency judgments after the fact.  You heard it here first.

Selling Homes in St. Augustine: Keep Your Real Estate Deal Mum on Facebook

Tuesday, July 20th, 2010

by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com).   Follow us on Facebook.

Okay, you’re selling your house and you just got it under contract.  Or you’re buying a home and the seller has just accepted your offer.

Before you go bragging about the details of your real estate deal on Facebook, remember that sharing those details on an open forum is a bad idea.  It’s a small world out there and one of your friends with might have a connection with the other party.

You’re a buyer and you would have went higher?  Keep it to yourself.  You’re a seller that would have went lower?  Same deal.

If I was on the other side and I found out those details I would keep looking for an opportunity for you to make good on your bragging.  “My goodness, this home inspection turned out much worse than I expected, I’m afraid I just can’t pay that $$$ for the house…we’ll have to renegotiate the price.”

“Lose lips sink ships” they used to say.  I wouldn’t even brag after a sale.  “Bury” that fact that you would have paid more/paid less, then “bury the shovel.”

Selling Homes in St. Augustine: Don’t Get Stuck Paying EXTRA Commission

Thursday, July 15th, 2010

by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com).   Follow us on Facebook.

I just did a post on the company website about how some sneaky brokers add an extra commission to the sale of the home.  Even worse, the listing and selling agents don’t see any of this money (commission is the driving force behind an agent’s motivation to get the job done), so it doesn’t help the sale of your home.  Follow the link and enjoy the post!

Selling Homes in St. Augustine: Fannie Mae Cracks Down on Foreclosures

Monday, July 5th, 2010

by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com).   Follow us on Facebook.

If you owe more than your home is worth and you can still make the payments, but you just decide to walk away (called a strategic default), Fannie Mae is set to put a world of hurt on your credit.

If you want to borrow again on a home loan backed by Fannie Mae (and most are), and you do a strategic default you’re going to have to wait another seven years to do it.  That’s right, 2017 if you do it this year.  If you default and its due to extenuating circumstances (bankruptcy, job loss, etc.) it’s only three years.

“We’re taking these steps to highlight the importance of working with your servicer,” said Terence Edwards, a Fannie Mae spokesman. “Walking away from a mortgage is bad for borrowers and bad for communities and our approach is meant to deter the disturbing trend toward strategic defaulting. On the flip side, borrowers facing hardship who make a good faith effort to resolve their situation with their servicer will preserve the option to be considered for a future Fannie Mae loan in a shorter period of time.”

In Florida, they can also go after you for what is called a deficiency judgment.  In other words, after Fannie Mae forecloses and sells the property for less than is owed, they can go after you for the shortfall. 

Just some things to think about if you can still make the payments.  Really think out your strategy if you’re preparing for a strategic default.

A blog post by Kirk Haverkamp at MortgageLoan.com contributed to this report.

Homes for Sale in St. Augustine: What the heck is a “patio home.”

Tuesday, June 22nd, 2010

by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com).   Follow us on Facebook.

My latest post at our company website will tell you what the difference is between a “patio home” and a “zero lot line home.”  Just click on the link to read and I hope you enjoy it!

Homes for Sale in St. Augustine: The Age of Your Roof

Monday, June 7th, 2010

by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com).   Follow us on Facebook.

We recently had an issue with the age of a roof in one of our transactions. 

Though the roof was keeping the home safe and dry, the home inspector thought the roof only had a few years left of life. 

This could be problematic in trying to get a lender to make a loan on a house.  VA and FHA loans especially, if an appraiser doesn’t feel there are 3-5 years of roof life left.  And good luck getting a roofer to bet his license on certifying the life expectancy of a roof he didn’t do.

Anecdotally we were pretty sure the roof had been re-done after 2001, but the last documented change to this roof was in the 1990s.  So we were out of luck.

When you re-do your roof I highly recommend purchasing the shingles yourself, after the roofer tells you how much he needs.  Besides avoiding the mechanics lein that the roofing supply company will put on your home until the shingles are paid for (since you will be paying for them at time of purchase), you will have all the documentation relating to the life expectancy of the shingles.

So, when you go to sell 15 years down the road and some appraiser questions the roof life, you can whip out the receipt for 30-year architectural shingles and go to closing without incident.

Homes for Sale in St. Augustine: A Primer on the VA Loan

Tuesday, June 1st, 2010

by Sean Hess (www.SeanHess.com), Broker and Manager for St. Augustine Team Realty (www.StAugustineTeamRealty.com).   Follow us on Facebook.

In honor of Memorial Day this year, we thought we’d republish the link to a post we did for last Veteran’s Day, a quick guide on how the VA Loan works.  We hope you enjoy it!