Aug. 27, 2018

Beattie Realty Team Blog for August 2018

Title: Real Estate FAQs: Pending vs. Sold: What is the Difference?


So, you’ve had your eye on a certain house but haven’t made a move yet. Then, you see online that it is listed as “Pending.” Oh no! You believe you have lost out on your dream home. Yet… in a few weeks, it’s back on the market. What happened? In the real estate market, “pending” and “sold” are not the same thing. Let’s look at exactly what each term means, how they are different, and what you need to know about them.

 

When a House is Pending

There are actually several different ways a house could be listed as pending, but it is not technically sold as yet.

Deal pending: This means someone wants to buy the house and has written a formal offer, the seller has an accepted offer, and all the contingencies have been met. The home is pending sale. This is the escrow period, when both buyer and seller are working toward a closing; the status will show as pending until then. More often than not, this ends in the eventual sale of the home. Even though a sale is highly likely, some pending properties may go back on the market if the deal falls through for any one of a number of reasons..


Pending, showing for backup: During this period, the seller is unable to enter into an agreement with another buyer, but the sale is not exactly a done deal. There’s an opportunity for a “backup” offer. This means the property's owners are actively taking other offers in case the first one falls through. If you are really interested in a home, you may want to consider having your real estate agent submit a backup offer so you don’t have it bought out from under you if it comes back on the market.

Pending, subject to lender approval: While it is recommended that buyers get pre-approved for a mortgage before shopping for homes, not everyone does this. In this situation, the seller has an accepted offer but is waiting to see if the buyer's bank will approve the mortgage loan. If not, the property could end up back on the market.

 

Sometimes, a property comes back on the market after being in pending sale status. This means that the home fell out of escrow, perhaps due to contract issues. Many potential homeowners fear this means something is wrong with the home, but often it has more to do with the financial situation of the previous buyer than anything else.

 

 

When a House is Sold

A home isn't technically sold until the seller no longer owns it. The house is sold when the deed has exchanged hands to the buyer and the necessary funds have been disbursed. Until the deal is closed and the house is sold, you still may have a chance.


Many buyers assume that “sale pending” means the property is no longer available. But that’s not always the case. If you’ve fallen in love with a home that shows as pending, don’t immediately rule it out. Contact The Beattie Realty Team and we’ll help you discover exactly what is going on with it. If we find out the offer is still contingent on several factors, like financing, we will make sure you are next in line. Our real estate professionals are smart, and will make your interest known, so that if the deal falls apart, you are right there, ready to step in. If the house’s sale does close, we will still be there for you- helping you find another house you will love just as much.

 

Reach out to us today by calling Mark Zinn at (239) 994-6187 or emailing him at mark@beattiedev.com. Don’t miss out on your chance to buy the perfect house for you!

 

Posted in Blog
May 31, 2017

Beattie Realty Team Blog for June

What to Expect When Selling a Home This Summer

 

If you’re planning on beginning the process of selling your home soon, you should know that the housing market is just as hot as the Florida weather right now. In fact, if sales continue at the current rate, the new homes on the market today would all be gone in just over five months. Average home prices are rising, and the inventory that’s coming on the market isn’t there for long. That means you need to move fast and decide who is presenting a serious offer, quickly. Do you have to try to figure it all out for yourself? Not when you have the professionals at The Beattie Realty Team at your disposal to help you find and buy the perfect Southwest Florida home.

 

Many people looking to buy a new home this summer must first sell their current house. The current market may be a “seller’s market,” but that doesn’t mean you can just put a “For Sale” sign in your yard and wait for the money to roll in.

 

1. Set a Fair Price- Just because there are more buyers than sellers doesn’t mean you can overprice your home and still get it sold. Buyers have more information at their fingertips than ever before because of the internet, and you should assume they know what similar houses in your area are going for. If your home is unfairly priced, they will most certainly know it and look elsewhere.

 

2. First Impressions Count- Because buyers are looking at dozens or more houses online before they even show up to see your house in person, the way your home looks in these initial images absolutely matters. It is recommended to have professional photos done because the first showing no longer takes place when your Real Estate Agent walks them through, it’s when they view the listing online. And, don’t forget about a well-maintained exterior, not just cleaning the inside.

 

3. Don’t forget the HVAC Unit- A certification from a local air conditioning company saying your HVAC unit is in top shape will make the decision to purchase your home all the more easy for prospective buyers. This is something they definitely want to ensure is in working order and waiting on a home inspection adds time to the entire process, meaning you could potentially miss out on the home you were hoping to buy when your current house sells.

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Owning a home in Naples, Bonita Springs, Cape Coral, Fort Myers Beach, or anywhere else in Southwest Florida is a wonderful investment both for your finances and your future happiness. The Beattie Realty Team can help you find one that best fits you, your family, and your unique living situation. There are many communities and home options in Southwest Florida. If you want a pool, four bedrooms, and easy access to the beach- we’ll find it. Interested more in being on a golf course? We can handle that too! Contact us today by calling (239) 257-3295 to get started on your home buying journey.

 

And remember, the housing market isn’t infinite. If you’re already searching for the perfect home and not finding exactly what you’re looking for, you don’t have to settle. Working with The Beattie Realty Team means you’re just one step away from bringing in Beattie Development to build the custom home you know you want, but can’t find in the existing market.

April 20, 2017

Beattie Realty Team Blog for May

What to Consider When Buying a Vacation Home in Southwest Florida


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Have you ever thought of how nice it would be to spend the winter in Florida? While our area has wonderful weather part of the year, many northern residents don’t want to live here year-round because of hot and humid summers. Do you have to settle for just a week vacation? Not when you have the professionals at The Beattie Realty Team at your disposal to help you find and buy the perfect vacation home. With our help, you can have a part-time residence that you can come and go as you please. .

There are many communities and home options in Southwest Florida that make fantastic second residences. Make sure the property you look to buy is within easy driving distance of everything that attracted you to Southwest Florida to begin with, like a condo on Naples Beach or a single-family home near Cape Harbor. Location isn’t the only thing to consider though. You’ll need to keep in mind the following:  

#1 Make Sure You Can Afford It
It is extremely important to budget for having two mortgage payments unless you already totally own your primary home up north outright. Be aware that if you don’t, banks typically give second homes a higher mortgage payment. This is because they figure if one month you can only afford to make one mortgage payment, you’re more likely to make the payment on your primary home first. And don’t forget the down payment! This is part of the lending institution being absolutely sure that you can afford it.

 

Also, the cost of homeowners insurance on a second home will be higher. The Insurance Information Institute lists a few reasons for this, most notably that the property won’t be occupied consistently. This puts you at increased risk for theft, hurricane damage if no one is there to board up the windows, and more.

#2 Don’t Forget Occupancy Rules
Now that we’ve gone over the budgeting of getting a second home, let’s make sure we go over what qualifies your Southwest Florida residence as a “second home” in the eyes of your financial lender. In order to have this classification, you must spend a decent portion of the year there. Their exact rules will be unique to whichever lender you use, so be sure to ask. And yes, it needs to be you staying there, not guests. If you rent out the property for 15 days or more, it could be considered an investment property to them and subject to an even higher rate.


#3 Look into Handling Maintenance and Utilities
Since your second home will be unoccupied at least part of the time, consider how you might handle maintenance issues like lawn care, pool cleaning, and more. You can’t turn off the utilities even if you’re not going to be around the house for a significant period of time (like all summer), because the heat may cause mold growth and other foundational issues. Plus, you’ll probably want an alarm system that requires electricity, so it is best to keep it on and set the air conditioner up to a warm temperature.

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Despite the costs, owning a second home in Naples, Bonita Springs, Cape Coral, or Fort Myers Beach is such a great idea, thousands of people chose to do it each and every year. Beattie Development has recently expanded to include a new division, The Beattie Realty Team, who can help you find one that best fits you. Buying a second house is a huge financial decision and one that definitely shouldn’t be taken lightly, but with The Beattie Realty Team you can rest assured that you’re in good hands. Contact us today to get started by going to Beattiedev.com or by calling (239) 257-3295.

 

April 5, 2017

Beattie Realty Team Blog for April

              5 Reasons to Purchase a Home in Southwest Florida This Year


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Have you been weighing out purchasing your first home, or upgrading from your current living situation to a new home that better fits your needs? It actually makes a lot of sense for many people in Southwest Florida, or who want to move to Southwest Florida, to go ahead and make the leap this year. 2017 is off to a great start, and trends are showing that it will be a fantastic year to purchase a home. Consider the following:

#1 Southwest Florida Rent Is Expensive- and Getting Even More So

A study released in October 2016 from Trulia shows that buying a home nationwide is 37.7% less expensive than renting a similar property. In fact, our area has seen such a large spike in rent that it is even more drastically different here. If you’re expecting your rent to stay the same from year to year- you could be in for a big surprise. Rent has increased by $200 or $300 per month or more in some cases published by Florida Weekly, with landlords taking advantage of high demand and recouping losses from lower rents charged during the recent recession.

 

#2 Home Values Are Up in our Area

Part of the way you gain equity (the value of your home versus what you owe on it) in a home you own is through making the monthly mortgage payments. The closer you are to paying the loan totally off, the closer you are to fully owning your home outright. The other way to see more of a return on your investment is to have your home appreciate in value, which many homes in Southwest Florida finally are. Essentially, the more your property is worth, the more you could expect to get from it in a potential sale. If are still renting, you don’t see the benefits of the equity or your home’s value rising– your landlord does. See the problem?

#3 Mortgage Rates Are Low

Mortgage rates are very attractive right now, and look like they will be for some time to come. While your particular mortgage rate will vary based on a number of factors, rates are in the mid-4% range right now. That’s much better than recent years and should be taken advantage of.

#4 You Can Probably Get a Low Down PaymentFront ground 2.jpg

If you’re worried about purchasing a home because you don’t have a nest egg saved up, relax! You may not have to put aside as much cash as you think in order to buy the house you really want. While of course there are advantages to making a higher down payment, you certainly don’t have to. The fact is that you can put down as little as 1%, 3%, or 5% in many cases and be able to get a mortgage. Everyone’s financial situation is different, but if you can afford the mortgage, don’t let the concept of a down payment stop you.

#5 The Beattie Realty Team is Here to Help You Through it all

Beattie Development has recently expanded to include a new division- The Beattie Realty Team. Buying a house is a huge financial decision and one that definitely shouldn’t be taken lightly, but with The Beattie Realty Team, you can rest assured that you’re in good hands. Whether you want a condo in Naples or a single-family house in Cape Coral, we can help you find what’s just right.

We want to help you find your dream home. It doesn’t matter if it’s your first home or the home you plan to spend your golden retirement years in, we’ll help you find the perfect spot for you. Contact us today to get started by going to Beattiedev.com or by calling (239) 257-3295.

 

March 7, 2017

Why live in Cape Coral?

 

 

4 Reasons to Build your Next Home in Cape Coral

 

Think Naples and Bonita Springs are the only places in Southwest Florida where you can enjoy a fun yet luxurious lifestyle? Think again! Cape Coral is increasingly becoming the go-to spot for singles, families, and retirees. Not yet convinced Cape Coral is the place for you to enjoy all of the sun, golf, and pleasantries that our area has to offer? Consider this: CapeCoral.jpg

#1 Cape Coral is growing fast

 

In fact, it’s THE fastest growing cities in America, according to Forbes. “We went from top of lists for fastest-growing cities to the top of the list of cities with most foreclosures," says Connie Barron, spokesperson for the city. Close to a decade, later things are looking up again, and all of those new residents can’t be wrong. According to the article in Forbes, people are being drawn to the Cape by 335 days a year of sunshine, safety, and low taxes. We couldn’t agree more!

#2 Unemployment is down, and families are moving in

It’s not all retirees coming to Cape Coral, of course. Unemployment is down in the city, a great sign for everyone. The workforce is rising again, according to U.S Department of Labor statistics and that’s putting more and more families into homes. Because the job market is getting better and Cape Coral has so many three bedrooms / two bathroom homes available, the entire area is becoming more family-friendly. More new homes mean more new grocery stores, restaurants, and Friday night activities...which creates more new jobs and the cycle continues!IMG_0246blend-2.jpg

#3 It's Consistently one of the    Safest Cities

 

While just about all of Florida may be sunny, not all of it is safe. That’s what makes Cape Coral truly special- it's a crime rating. The city is well below the state average and even below the national average, as well. According to crime statistics, it rates extremely well for both violent crimes and property crimes like home break-ins. Neighboring cities can’t boast the same; it’s just one of the reasons Cape Coral is so great!

 

 

#4 There's Actually a Lot to Do

 

Living in Cape Coral is anything but boring. Whether you like kayaking in natural rivers, golfing just miles from your home (or right in your own backyard!), or experiencing the downtown nightlife, this city has it all. That’s not even including the yearly festivals and events like Oktoberfest, the Burrowing Owl Festival, Red White & Boom, and so much more.

 

If you’re ready to move and considering a new home in Southwest Florida, don’t miss the opportunity to see what Cape Coral has to offer. Beattie Realty can show you several homes that fit your needs, whether you want a sleek condo on the water or a spacious house near your children’s school. Contact us today, and we’ll get started finding the perfect home for you!