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Currently, I'm offering a special for $80 for Broward Realtors, which includes a retouched image and a CD with the digital images, sized for various purposes. For this rate, the image must be taken in my studio in Wilton Manors, FL. The image will be retouched with your supervision. The entire process takes about 1.5 hours and allows you to leave with your finished image. Everything ready for digital usage or printing of your choice.

One of your most important marketing icon is your image. Typically, you use it for everything. A great headshot presents you the best way to clients and reinforces a positive impression. Call today for more info. 954.54.7.3146.

Helping the Realtor Help You

Buyers should realize that a Realtor's primary purpose is to sell homes--not be a tour guide, psychoanalyst or market data source. With all the resources currently on the Internet, a buyer should be prepared with a defined list of needs to help the Realtor guide the buyer to the best valued house  within his/her parameters. So what is the information you will need to provide to the Realtor?

First, determine a price point. This decision may seem obvious, but several factors influence this outcome. Is the deal going to be cash or financed? If cash, will there be enough extra money to pay for the renovations. If financed, the buyer must get pre-approved for the purchase. Financing is difficult to get currently, so the buyer shouldn't assume that the amount of money they want to finance will be available. Get pre-approved. In today's market, that is the first question that comes out of a realtors mouth.

Second, decide on a location. Drive around neighborhoods and determine where you want to be. Realtors will certainly advise you on neighborhoods that fit your financial or physical parameters, but legally, they are not allowed to confirm or deny specific demographics for neighborhoods.

Finally, create a list of "must haves". Not "wants". For example, if you currently have a pet and you must keep the pet in your next move, that would be a "must accept dogs at the requisite weight and breed".  A want may be a preference for a pavered drive--instead of a stamped concrete--but it isn't essential to your move.

If you do some prework before you meet with your Realtor, he/she will be able to show you properties that are on target.

Why Chose Century 21?

Foreclosure Activity at a 40 Month Low

Foreclosures have decreased steadily over the last several months. April saw a 40-month low--decreasing 9% since March and 34% from a year ago. That's a good sign that the market is recovering. As a result, prices have stabilized or increased.

Unfortunately, foreclosures are taking longer to close. Less than 30% of foreclosures are available for sale from the bank. That translates into a huge inventory that is being strategically made available to realtors and the public.

Over 3.7 million homeowners are 90+ days delinquent in their home loans. But the options to get out of delinquency are limited. We are not seeing much improvement in loan modifications, but there is an increase in short sales.

So You Want to Buy a $50K Property in Broward County!

With websites constantly promoting how inexpensive properties are in various location throughout the US, the average buyer may think that any property is available anywhere for under $50K--as long as they have cash. The reality of the situation is quite different. In South Florida, there are properties available for $50K, but rarely are they nice and in great neighborhoods. This fact is particularly true for single family homes. So where are the bargains today?

If you want to purchase a foreclosure or short sale, there are lots of $50K and less properties. The units will probably need fixing up, and you may need to have patience to close the deal. But they are there. Be aware that lots of other buyers are out there searching for the that same property, so placing a successful bid on a property  may be simply good timing or outbidding the competitor.

The best deals for the frugal buyer are 55+  communities. You must be 55 years of age or older to purchase these units. (Exceptions do exist, but one person owning and/or living in the unit must be of age.) Often times these communities have very strict rules, so if freestyle living is your option, these properties wouldn't be a good choice for you.

Single family houses under $50K truly the bottom 1% of the market. That means the houses will typically be in less desirable neighborhoods, need lots of work or possibly have have fees (liens, association dues, repairs to occupy, etc.) attached to the house. These types of properties are best purchased by contractors, investors with house rehab skills and demolish companies. For the average owner, these are typically money pits, so be careful and ask lots of questions along the way. Auctions may seem like a great way to get a cheap property, but be aware that you are not getting clear title and may inherit expensive liens and taxes.

In Broward County, FL, the $50K houses, condos, and townhouses are more common on the west side of town and are usually old 1950s and 60s vacation property. If the deal looks to good to be true, it may be. Lots of newer properties on the market may have high maintenance fees, chinese drywall, water leaks, etc. Location is a big determinant in price, so as you get closer to the ocean, fewer houses are available at that the under $50K price point.

Remember shopping for homes can be fun, but at this price point, realtors make very little commission, so work with your realtor by previewing the outsides of units first and driving around the neighborhoods. Your realtor can help you best if you do your pre-work.

What to Expect in Closing Costs

Many are taking advantage of this year’s lower mortgage rates to purchase a home. Pent up with excitement, many families, who have scrimped and saved for a down-payment, jump for joy when the mortgage lender finally approves their application. But, they should realize that there’s a whole new set of expenses that must be covered before actually closing on the sale.

New homeowners are often taken aback by up-front closing costs such as mortgage and title insurance, attorney fees, recording fees and loan points, which can run into the thousands of dollars. But there is no need to be afraid of these charges. With a little background on their purpose and shrewd financial foresight, closings can be a breeze.

A lender’s charge for processing the loan can be determined at the beginning of your buying process. Referred to as “points,” these charges are expressed as a percentage of the total loan. For instance, three points are equal to 3 percent of the borrowed amount. “Points” can also become a tool for negotiation with the lender and seller. In a buyer’s market, home sellers will often agree to pay mortgage fees in order to close a deal.

Title insurance can be a substantial expense. The policy covers any financial set-back caused by unforeseen defects in the purchased property and home. The one-time title fee, including search and examination, averages around $400-700 for a $100,000 home, but it’s recommended that you check with a local title insurance agent ahead of time to effectively determine what you’ll owe before closing.

Additional costs, such as attorney charges, and recording, transfer and inspection fees, can also be predicated ahead of time by the buyer. Most often pest and survey inspections, although included in the official closing statement, are conducted and paid for long before the closing date. However, buyers should consider them as additional up-front costs.

Some closing costs, such as “points,” are fully tax deductible that tax year if you show proof of a separate lump sum payment. They are not deductible in a few cases when the loan is the result of re-financing rather than a home purchase. Application, appraisal, documentation and broker fees can not be deducted.

Some states require payment of property taxes at closing. In some instances, buyers and sellers are asked to put money into an escrow account that will cover any past and future tax obligations. Be sure to check with an attorney or real estate agent before the closing to determine your property tax commitments.

Also, be prepared to pay any assessments if buying a condominium or into an association-governed property. Fees for credit reports, notary public seals and assumptions, which includes the processing of official documents, may also arise.

Knowing what total closing costs will be before starting your home search can help you better understand what price range is right for you. In the end, the process of closing on a mortgage will be easier than you think, leaving more time to plan for your new home.

The Contractor Agreement: 7 Steps to an Iron-Clad Contract

Follow these seven tips to make sure your contractor agreement works in your favor—not your builder’s.

Step 1: Hire a lawyer

Contractors use their own forms, which are drafted for their benefit, not yours. You’ll benefit from hiring an attorney to review your contractor agreement or draft one that’s you-friendly. Even though this may cost around $250 to $500, it can save thousands of dollars later if there’s a dispute.

Step 2: Take the home court advantage

Add a “choice of law” or “forum selection” provision, which says that disputes will be litigated on your turf. This provides protection against out-of-town contractors or suppliers—you don’t want to have to drag yourself across multiple state lines for a lawsuit.


Step 3: Create an incentive to finish

Define when the contactor will deliver on his promises, and when he’ll get his money. Within the contractor agreement, create a payment schedule in your favor by holding money back until the work is fully completed and you’ve verified the final payments to subcontractors. Maintain control by holding the purse strings.

Step 4: Reeling in a runaway contractor

The most common problem you’ll encounter is a general contractor who gets paid, but doesn’t pay his subcontractors and suppliers—possibly leaving you on the hook, according to Craig Robelen, a home builder in Boca Raton, Fla.

Robelen advises protecting yourself upfront by requesting the names of all professionals your builder will work with. Verify that your contractor has paid his subcontractors by requesting conditional partial lien releases during the construction term, and a final lien release at completion. (Have the general contractor collect them and present them to you.) These are essentially formal acknowledgments from subcontractors that they are being paid for work done.

Also, see if your contractor has a “payment bond” that guarantees subcontractors will be paid.

Step 5: Corral unauthorized costs

Your contract should state that any changes that will affect the price of construction should be in writing and countersigned by both you and your contractor. This protects you from unauthorized charges.

Step 6: Avoid kickbacks

Protect yourself from kickbacks—where contractors gets bonuses from their subs for referring business—by requesting that builders sign affidavits that they’re not getting any “fees” from subcontractors as a prerequisite for doing business with them. Keep costs well-defined by asking for a “bid summary,” which should show a minimum of three quotes in every cost category of your budget.


Step 7: Binding words

If you’d like to avoid going to court in case of a dispute, add a clause in the contractor agreement for binding arbitration. If there’s a problem, you and your contractor will plead your case in front of a non-biased arbitrator, whose decision will be final.

If your contractor balks on any contract point you feel strongly about, do some more research. Maybe what you’re asking isn’t typical for that kind of job. Talk with neighbors who have had similar work done and sound out other contractors regarding their policies on the disputed issue before you sign anything. This helps you determine what’s customary for your particular area.

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Article written for National Realtor Association by Barbara Eisner Baye. She has written about personal finance for the past 17 years. She recently completed a home renovation on time, on budget, with the aid of a cold compress on her forehead.





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