Termites thrive in Florida’s moisture, and can destroy or devalue a home if left unchecked. Termites are the foremost wood-destroying structural pests in the southern United States. According to some estimates, over $2 billion is spent annually in the U.S. controlling or preventing termite infestations.

What Are Termites?

Termites are “social insects” and live in a nest or colony. Subterranean termites (known as”subs”), a common variety in Florida, normally live below ground, often near a tree, stump, wood pile or other source of food. They may move up into a building where they can cause considerable structural damage.

Avoiding Termites When Looking At Florida Homes For Sale

When you are considering purchasing a Florida home for sale, it pays to look around BEFORE paying for a home inspection. Mulch and other ground covers such as gravel maintain moist soil conditions which may attract termites to the area. If the property owner has not kept mulch and other landscape materials away from the foundation or lowest point of siding on the home for sale, you could be looking at future termite problem.

Also take a peek at structural issues like the stucco or siding. Siding should always be at least 6” above the soil line. One word of caution as you are looking around, if the house has received previous termite treatment, don’t dig up the soil within 12 inches of the house. This allows termites to bypass the treated soil and gain access to the foundation.

Check and make sure that shrubs are not planted too closely to the house. Not only can ants and termites enter the house from trees or shrubs that touch the building, thick shrubbery makes detection of termite activity difficult to discover.

If you purchase the home, make sure to remove dead trees, stumps and old wood piles. Do not use the crawl space under the house for storage of anything but items made of metal.

How to Prevent Termites

Many people who purchase a Florida home from out of state think that the clean inspection means smooth sailing forever. If you don’t have a termite problem when you purchase the home, do not simply wait until a problem occurs and THEN have a treatment done. Conducting annual inspections either by a licensed pest control expert, or by becoming alert to termite activity yourself is invaluable.

An annual termite control contract with a reputable pest control company provides peace of mind for many. They run roughly $100 to $200 a year. Some use an inground bait or repellent, and others use insecticide injected into a series of drilled holes in the foundation.

Even if you are vigilant during the Florida home buying process, termites might show up sooner or later. In Florida’s warm, moist conditions, knowing how to avoid termite damage is critical. The smartest path as a homeowner is to be prepared for them so they do not devalue or destroy your home. Take our word for it, this is one of our top Florida real estate tips which will save you LOTS of money down the line!

Getting a home loan can feel like David fighting the Goliath that is the banking industry but there are home loan strategies if you want to secure a home loan and look into Pinellas homes for sale.

Check your credit report and know your credit score. That is what the bank is going to use to identify how risky you are as a potential customer. Make sure there are no errors on your credit report and report any inaccuracies. Pay off any outstanding debts you might have in collections. You are entitled to a free credit report once a year from the three major reporting agencies (Equifax, Experian, and TransUnion). Click Here or call 877-322-8228 to receive your yearly report.

Improve your debt to income ratio. Long-term debts should be no more than one-third of your gross monthly income. Try to maintain credit balances that are no more than 30 percent of the limit. If you’re really dedicated to obtaining a loan, get a second job for a while—until your financial picture improves. It’s worth it if you really want to be a homeowner and see the value in purchasing from the huge stock of Pinellas Short Sales and Foreclosures that are available right now.

Start saving. The more you have for a down payment, the lower your interest rate will be. Also, the amount of down payment you have will determine if you will be required to have private mortgage insurance (PMI). Usually 20% or higher means no PMI—a considerable monthly savings you will want to use for other important things such as home improvements, repairs or décor. You’ll be surprised at the ways you can find to redirect funds into a savings account. Bring your lunch to work instead of buying it every day. Get a skillful friend to trim your hair. Shop the consignment stores and don’t be embarrassed to use coupons. You’ll be amazed at the savings you can accrue once you commit to trying.

Investigate credit unions. They are helpful and usually offer more attractive programs than commercial lenders.

Find a reliable mortgage broker. They can update you on any changes in the market. As in most cases, knowledge is power. We have a list of great local lenders if you need a good referral.

Improve your chances of getting a home loan in a tight market with three basic home loan strategies: diligence, sacrifice and investigating the options. For many people, the end results are worth it!

For the most up-to-the-minute list of Pinellas homes for sale and options for buying a home, call the Pinellas Peach at 727-366-0324

These disclosure rules are not without controversy but were designed by the Federal Trade Commission to protect mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer from their lender or servicer that they decide is acceptable. Short Sale Realtors are indirectly affected.

They must tell their clients:

1. We do no charge upfront fees for our services in representing you.
2. Our commissions are paid from the proceeds by a closing agent (escrow, title or attorney) that are A)  Agreed to by your lender when the short sale transaction is approved, B) the terms accepted by you, the seller or homeowner and C) when sale is successfully closed.
3. Realtor commissions (typically 6% total) and closing costs will be part of your overall deficiency (the amount of your debt ‘forgiven’ by your lender.)

The new laws are tricky and you will need expert advice from a trusted and experienced short sale experts — The Pinellas Peach!

Just like someone would make a big “to do” for a new home, they should also make a big deal of looking for Realtor. Of course, no two Tampa Bay Realtors will be exactly the same. There are five things to look for in Realtors:

1. They need to know the Tampa Bay area. Any Realtor has to make sure that they know the neighborhood that they are showing the client. They really have to know where things are in that neighborhood, like stores and schools, amenities, libraries. They also need to know the details of the area which can cause trouble for you when you go to re-sell your brand new home. A  good agent can make sure to help you YEARS in advance!
2. Being Professional. There are many Realtors out there currently who are part-timers due to the economy. For a big transaction like a home purchase, you want to make sure that you are choosing professional, FULL TIME Tampa Bay Realtors. It is easy to find out, simply  ask!
3. Treats the client like a person. Full time Tampa Bay Realtors may be working with lots of buyers and sellers at once. Make sure that the Realtor you pick takes the time to get know you BEFORE you get in the car to look at houses. Having a caring Realtor can decrease the number of homes you have to schepp around to in this high inventory real estate market.
4. Having access to Multiple Listing Service AND a Lockbox Key. When a Realtor is the member of an MLS board, they have ethical rights and responsibilities that they have to follow. Lately we have seen a number of agents who have let their lockbox key expire due to expenses. How does this affect you? Well they then have to coordinate to meet the listing agent at the property and you may not get to have a chance to make a real assessment of the properties you are viewing. I KNOW, this is one of the tools of our trade, but not everyone sees it that way!
5. Find a specialist. There are specialists for Realtors just like there is in any other profession.  On our team we have listing agents and buyers agents who perform different functions yet Matt and I are personally oversee the process every step of the way. Listing agents help home sellers and buyers agents specialize in working with buyers.  Having a team at work for  you means that your Tampa Bay Realtor can focus on finding you the best house possible!

I have to say that I am super proud of the way that Suncoast Partners works! We are committed to providing all of our real estate clients the best possible service and are dedicated to making the home buying experience fun and productive. If you are looking for GREAT Tampa Bay Realtors, we would love to have you give us a call so we can talk about your real estate needs! 727-366-0324

Even if  you’re a seasoned Tampa Bay investor, we hope you’ll join us in the months ahead.   We’ll be fully exploring in an easy to understand format exactly why Pinellas real estate investing is an incredible way to build wealth.  We’ll also present stand-out investment opportunities - even if they aren’t our listings!  

Pinellas Real Estate Investments Are Always a Great Buy - IF  Researched and Made The Right Way!

Sadly, too many Pinellas real estate investments made in 2003 to 2007 were made the wrong way - by assuming massive appreciation and were purchased with ‘bubble’ equity from other properties and/or adjustable rate interest only loans.  Though now, when market prices are low and skepticism is high, is when savvy investors are gobbling up property.  And even if you lost your proverbial shorts during that time on a property or two – or know someone that did – this is all the more reason to join us in the months ahead as we learn how to bulid your personal wealth. 

Pinellas real estate investing must be done the right way.  As designated CIAS – Certified Investment Agent Specialists   and licensed real estate consultants we’ll not only be sharing the ‘why’ – we’ll also be sharing the ‘how-to’ of investing the right way – step by step.  Stay tuned!

Finding Pinellas Homes for Sale Online Minus the Confusion 

There are so many websites vying for your attention, we thought we’d clear the air with some common Q & A’s …

1. Where do all the listings come from?   99% of homes for sale in the country are listed on the local and regional MLS’ – Multiple Listing Services.    The other 1% are FSBO’s or  are FAKE listings (more on that in another post soon).
2. Why is it that one Pinellas Real Estate website shows a home for sale and another doesn’t?   Each real estate company (whether Keller Williams, Prudential, etc. or a small mom and pop operation) gets to choose if they want their listings syndicated (shared and published) on countless sites.   This is done via IDX which stands for Internet Data exchange.  IDX is the only National Association of Realtors approved method for companies to advertise MLS listings on their sites.  Further, proactive Pinellas Realtors will further sydicate their listings to even more sites (like we do).  That’s why a home that’s on the MLS may show up on one website and not another. 
3. Do Pinellas Realtors hide information from us in order to sell their own lisitngs?  Almost never.  We’ve encountered only a handful of agents that don’t operate above board and they are out of business or are about to be.   Though agents use many online tools to share listings with you – with varying results.
4. Why do I find homes listed online and then call the agent only to find it’s already been sold?   The online real estate sites get paid by advertisers and by selling stuff to Realtors.  The more people like you that they have searching the site, the more money they make.  The more listings they offer you – whether sold, expired or still truly available – the more you’ll like their site.   IT’s A VICIOUS CYCLE OF FLUFF!
5. Is there a single source for all of the information I want without being hounded by an agent?  Yes, Dorothy, click your heels together, your wish can come true…. 

ALL Pinellas County Homes for Sale On ONE Site – And See Only the Ones that are REALLY for Sale!

Search all Pinellas real estate listings online just like a Realtor.  On that link just provided you’ll have live access to ALL of the homes on the Tampa Bay MLS without any of the garbage (expired, sold or FAKE listings).  And we won’t call you unless you ask us to.  That’s a promise.

Related Posts:

Top 4 Dangers in Buying Foreclosure Homes for Sale in Pinellas County

Top 5 Money Saving Reasons to Close on Homes for Sale in Pinellas by December 31st:

1. If the home currently doesn’t have a Pinellas County Property Appraiser homestead exemption, you must occupy the home as of January 1 (and file for it by March 1) of 2011 in order to qualify for 2011.  Close after January, and you’ll be waiting until 2012 for that $50,000+ property tax exemption.  Cha-ching. 
2. Multiple offers are less likely this time of year due to the decrease in buyers in the marketplace.
3. If you’re buying a Pinellas foreclosure or a home offered by a new home developer, they need to get as much inventory off of their books by year end.   In fact, all of a sudden we’re seeing short sale approvals rolling in where the banks are dictating that we must close by year end.   Right now we have the upper hand with the lenders and developers.
4. Sellers know that there aren’t many buyers looking at homes in December and those that do actually make an offer are serious and are less likely to play hard-ball and let you walk away.
5. Sellers on the market during the holidays are usually highly motivated.   And with the repeal of the Bush tax cuts being debated in Congress today and the capital gains tax possibly bumping up from 15% to 20%, sellers with equity want out now.

Happy home hunting!

The elephant knows that over 52% of all October sales cash purchases.   Translated, seasoned investors remain confident.    Meanwhile, the number of sales dropped 18.93% since last year, down to 891 total.  The Median sales price for all homes dropped a modest 4.73%.   

That elephant also knows that experts are predicting higher interest rates in 2011.  The Mortgage Banker’s Association MBA predicts interest rates to rise to 5.7% on a 30-year fixed by 2012.   If our elephant gets a $150,000 mortgage in 2012, that mortgage will cost him $510 a month more than it does today!    He had concerns that home prices are still declining, though he did the math and realized that even if  prices drop 10% on his $150,000 purchase to $135,000, that would only reduce his monthly mortgage payment by $50.   Given this scenario, waiting will cost him $460 a month more in additional interest.  THAT’S A LOT OF PEANUTS!

Would you take a plane ride with a pilot without formal training?  Or worse, what if he was distracted and Tweeting and texting in the air?  This

Click here to view the embedded video.

Who will you choose to land your plane?  If you don’t hire an agent as a “Single Agent” with a fiduciary responsiblity to you – and only you – well, you might not die because of a crash landing.  Though you’ll likely overpay, undersell – or not even close on that transaction at all. 

Trust me, there are PLENTY of transactions out there today NOT closing for mind boggling reasons.  Hiring the right Realtor® can make our break your dream.

Palm Harbor Realtors on Upcoming Mortgage Industry Changes

As Palm Harbor Realtors we’ve been studying up on the Financial Reform Act that became law last month.   Government regulators will be interpreting the law and creating rules for years to come, so it’s too early to tell how many of the facets of this sweeping legislation will affect you the homeowner. 

In July, RISMedia reported that CMPS Institute (a leader in the mortgage industry) had this to say:  “The main takeaway for homeowners and buyers is that mortgage rates are currently very low, and lending guidelines are not as bad as they could be once the new law goes into effect.  This means that if you can qualify for a mortgage now, you should do so, and not gamble your homeownership goals on the future impact of the new law”.  

They cited that it’s going to get harder to qualify for a mortgage even if you’ve got a great credit score, plenty of equity in your home (should you have one already), and have plenty of cash.  And they certainly aren’t alone with their prediction that we’ll all be  seeing higher mortgage rates because the law requires lenders to keep a 5% stake in many of the mortgages they originate.  This means  more risk for the lenders and higher rates for you and me.  Plus, the uncertainty of Fannie Mae and Freeddie Mac (now largely government enterprises who back most of the US mortgages today) could add fuel to that fire.

As we see it, it’s not so much a matter of if they are right, it’s a matter of when we’ll all begin to feel the pinch more than we already are.  

Harumph …. sometimes we just don’t want to hear anymore!