Gainesville FL Real Estate Blog

The most important piece of a person’s financial life is their credit score. Whether buying a new Gainesville home, applying for a job, refinancing your Gainesville home, paying off debt, or getting utility service, your credit score will drive the outcome. One would think that Americans are all aware of what the scores are measuring and what factors play a part. But, most Americans do not know enough about the three digit rating or what is involved. Do not let these credit score myths get in your way when preparing for the purchase of your next Gainesville home.

Myth: Checking a credit report can either damage or lower your score.
A credit report can be conducted by you or someone like an employer as many times as desired with out having any impact on your credit score. Reviewing your credit report will never change your credit score. Just make sure that reports are retrieved through the bureaus or a legitimate score seller.

Myth: Age, sex, and income are factors that affect your score.
None of this information plays a role in determining your score. A higher income may make it easier to pay off debts, but income and net worth have no impact of credit scores.

Myth: A credit score can be destroyed by shopping for a loan.
When seeking to extend credit, too many inquiries can have a negative impact your credit score. However, when several inquiries are made by the same type of lender with in a 14 day period they only count as one inquiry against your credit.

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Finding ways to deal with small spaces in your new Gainesville home can be tricky. Everyone likes the place they call home to be somewhere they can kick back and relax. However, it is hard to relax in areas that are cluttered and uncomfortable. Strategic interior design can make a big difference when dealing with small living spaces. Colors, lighting, organization, and décor can make spaces appear smaller or larger. Here are some solutions to make your Gainesville home look and feel cozier. 

Organization is the first thing to be conquered when transforming a small living space. Getting rid of clutter and maximizing the use of storage space are the keys to success. Clutter will make any space appear smaller than it really is. Eliminating excessive knick-knacks is one way to reduce clutter. Multiple pieces of small, scattered furniture can also make a room look jumbled. Using a couple pieces of slightly larger furniture leads to a less cluttered look. Every inch of storage space should be taken advantage of in small living areas. Planning out storage space will allow for more walking room, functional closets, and more productive space. Use multipurpose furniture like ottomans, which can be used for storage and seating. Try installing an organizational system in the closets. These systems usually provide a perfect spot for everything. 

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Gainesville home buyers to benefit from more FREE money…

The $8000 first-time home buyer tax credit was scheduled to expire in just a few short weeks…Nov 30, 2009. I say ‘was’, because the Senate voted unanimously to extend the credit on Monday and the House of Representatives approved the extension yesterday afternoon by a vote of 403-12. The extension includes an expanded tax credit to repeat home buyers. The bill now goes to the President for his signature which is expected to happen today. 

Home Buyer Tax Credit Expansion and Extension 

1. The $8,000 tax credit will be extended and available for first-time home buyers through May 1, 2010.
2. A new $6,500 tax credit will be available for repeat buyers who purchase between December 1, 2009, and May 1, 2010. To qualify, buyers must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years.
3. Prospective buyers with binding contracts in place as of April 30, 2010, will be allowed an additional 60 days to complete the transaction.
4. Income limits are expanded to $125,000 on a single return and $225,000 on a joint return.
5. Limitation on the cost of a purchased home is $800,000. 

If you know anyone looking to buy their first Gainesville home at a time when prices and interest rates are still down, or if you are thinking of buying another Gainesville home and getting the new $6,500 credit please contact me today.

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Buying a home can be overwhelming. Many Gainesville home buyers don’t know where to start. Here are 8 tips to help you get started with your Gainesville home search.

1. Research before you look. Decide what features you most want to have in a home, what neighborhoods you prefer, and how much you’d be willing to spend each month for housing. 

2. Be realistic. It’s OK to be picky, but don’t be unrealistic with your expectations. There’s no such thing as a perfect home. Use your list of priorities as a guide to evaluate each property.

3. Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and closing costs. Then, talk to a lender and get prequalified for a mortgage. This will save you the heartache later of falling in love with a house you can’t afford.

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Before you make your final buying or selling decision, you should have the home inspected by a professional. An inspection can alert you to potential problems with a property and allow you to make an informed decision. Ask these questions to prospective Gainesville home inspectors:

1. Will your inspection meet recognized standards? Ask whether the inspection and the inspection report will meet all state requirements and comply with a well-recognized standard of practice and code of ethics, such as the one adopted by the American Society of Home Inspectors or the National Association of Home Inspectors. Customers can view each group’s standards of practice and code of ethics online at www.Ashi.org or www.Nahi.org. ASHI’s Web site also provides a database of state regulations.

2. Do you belong to a professional home inspector association? There are many state and national associations for home inspectors, including the two groups mentioned in No. 1. Unfortunately, some groups confer questionable credentials or certifications in return for nothing more than a fee. Insist on members of reputable, nonprofit trade organizations; request to see a membership ID.

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Gainesville Homes For Sale:

504 NW 89th Street, Gainesville FL 32607

MLS# 304175

Super-sized!!  This home offers large rooms which include a living, family, and dining room.   The bedrooms boast large closets and the kitchen has an eat in space that accommodates a full dining table.  You can view the oversize pool and 1 acre private back yard with numerous fruit trees from the large screened porch.  Country setting that is close to everything.  Builder/owner has remodeled extensively, crown molding thru out, 2 Ac units (1 heat pump, 1 gas heat) Lots of beautiful oak cabinets, 3 year old appliances, 7 year old roof, foyer with lighted shadow boxes, cedar lined hall closet, solar heated pool and much more.  Must see to appreciate!

Learn more about 504 NW 89th Street and other Gainesville homes by visiting Gatorhomes.com and MyGatorCondo.com.

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Ways to prepare for Gainvesille home ownership:

1. Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.

2. Develop your home wish list. Then, prioritize the features on your list.

3. Select where you want to live. Compile a list of three or four neighborhoods you’d like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety.

4. Start saving. Do you have enough money saved to qualify for a mortgage and cover your down payment?  Ideally, you should have 20 percent of the purchase price saved as a down payment. Also, don’t forget to factor in closing costs. Closing costs – including taxes, attorney’s fee, and transfer fees – average between 2 and 7 percent of the home price.

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Everyday life can get crazy at times, many Gainesville home owners fantasize about running off to their own personal retreat right here at. But how do you know which vacation home is best for you?

Choosing a location

Do you want to be in the middle of all the activity, or enjoy the peace and quiet of a secluded location?  Is a condo at the mountain your cup of tea or a farmhouse tucked away in the woods? Whichever environment you prefer, here are some things you should consider:

• Popularity.  A house in a hot vacation market will usually cost more than a place off the beaten path.  At the same time, continued popularity may help you profit from appreciation.
• Proximity to your home.  If you plan to visit regularly, look for a place that’s easy to get to. 
• Rental possibilities.  If you’re hoping to offset some costs by renting the home for part of the year, find out about seasonal demand for rentals in the area.

Maintaining your getaway

Regular upkeep is more difficult with a vacation home than with your primary residence, but no less important.  The value of the home, both as an investment and as a place you enjoy visiting, depends on good maintenance. 

If your Gainesville home is not far from your vacation home, you may want to make weekly visits to mow the lawn, water the garden, clean the gutters or shovel snow.  If doing it yourself is impractical, consider hiring a vacation property management company to provide maintenance services during the times when you’re not using the home. 

Visit GatorHomes.com to learn more about buying a vacation home or give me a call for more personal service.

The current Gainesville real estate market is challenging for both buyers and sellers. Many sellers have not accepted the fact that their home has decreased in value and are trying to sell at peak 2006 prices. At the same time, buyers want to make sure they don’t overpay, fearing prices will continue to drop even more.

Of course, there are exceptions. Well priced homes in desirable neighborhoods or foreclosed properties selling at ‘yard sale’ prices may generate multiple offers. But all in all, it is a buyer’s market.

So how do Gainesville home buyers prepare to make an offer and put themselves in the best negotiating position? Here are some suggestions made by Dian Hymer in a recent Inman news article:

1. Before you make an offer on a listing that’s priced over market, try to find out as much as possible about the sellers’ motivation, and if there’s any flexibility in their price. If the seller owes more than the house is currently worth, they may not have any negotiating room. They may want to sell the house, but really can’t sell at today’s prices.  A lot of time and emotional energy goes into making an offer. Save your efforts for listings where the sellers are motivated. That is, they don’t just want to sell — they need to sell.

Some sellers want to test the waters at a price that’s higher than the market will support. They usually feel that someone will appreciate the added value their home offers and pay more for it. However, these sellers will often negotiate with a legitimate buyer who offers a price that is less than the list price.

2. Make sure that your financing is in order and that you are able to show the seller that you are capable of closing the deal. The fallout ratio is high in the current market. Many of these transactions fail to close because the buyers couldn’t get financing.

It’s always a good idea to be preapproved for the financing you’ll need to buy a home before you make an offer. Preapproval involves making a formal loan application, having your credit checked, as well as verifying your funds for down payment and closing costs, and validating your income and employment. Lenders often want to know that you have enough surplus cash to make house payments (mortgage, property taxes and insurance) for two to three months.

3. Buyers who make an initial low offer and who aren’t in competition should make as clean an offer as possible. This means omitting anything that’s not necessary. However, you should include contingencies for loan and appraisal approval and an inspection contingency.

It’s a good idea to include a copy of your preapproval letter with your offer. If you are approved for a higher price than you are offering, ask your lender or mortgage broker to issue a preapproval letter for the price you’re offering.

4. Be prepared to negotiate. It may take several rounds of counter-offering back and forth to reach a mutually acceptable price.

Are you thinking about buying a Gainesville home? We are glad to help you with your preapproval process, show you homes with motivated sellers and craft an offer putting you in the best possible light with the seller and results in getting you the best possible deal.

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This is a great time to think about buying a Gainesville home. Gainesville home prices have moderated and there is plenty of inventory to choose from. The biggest hurdle for many Gainesville home buyers is saving money for a down payment. Here are 25 things to do on a regular basis to save money:

1. Make it automatic. Before you see your paycheck, have a percentage of it automatically deposited into your 401(k) and savings.
2. Keep minimum funds in checking account. Transfer extra funds into your savings account where it will earn more interest than in our checking account.
3. Don’t pay banking fees! Use your bank’s free bill pay, automatic deposits, free checks, and free reimbursements for all ATM fees.
4. Use rewards credit cards. Use a credit card offering cash back on every purchase and pay the card off each month to eliminate interest fees.
5. Actively search out deals. It never hurts to try and find a better deal, or request a better deal from your service providers.
6. Use a programmable thermostat. Programmable thermostats save you an estimated 10-20% on your heating and cooling bills.
7. Use ceiling fans, floor fans, and space heaters. Turn your thermostat down, close the doors to unused rooms and use a space heater for heat. Use ceiling fans and floor fans to assist with heating and cooling – depending on the season of course!
8. Install CFLs to save energy. Compact fluorescent lights use about a quarter of the electricity of normal incandescent bulbs. They also need replaced much less often.
9. Drive smoothly. Accelerate smoothly and at a reasonable rate, and coast to a stop as often as possible. Also use cruise control on the highway. My car is rated to get 26 mpg around town and I regularly get 29. You can also use these tips to save money on gas, and use gas rewards credit cards to save money on fuel costs.
10. Plan and research major purchases. Take the time to research the best deals when planning a vacation.
11. Buy quality products. Quality items may cost more up front, but they last longer and generally provide better results than cheaper, inferior products. Examples of items you should buy higher quality – furniture, clothes and shoes, vehicles, and other items that will see a lot of use.
12. Buy generic where applicable. You can save a lot of money on generic items for which the brand name product is essentially the same as the store brand. Food and medicines come to mind as items where generic products are good deals.
13. Use coupons and rebates. Use coupons for oil changes, groceries, books, on-line purchases, and just about anything else we can find.
14. Use store rewards cards. Many grocery stores have their own ‘reward cards’ saving you money each time your shop. If you are a senior, shop on designated senior citizen discount days.
15. Cook at home.  Limit restaurant dining to once a month.
16. Eat leftovers. You can save a minimum of $20 a week by bringing your lunch to work. It is also healthier. On the rare occasion you go out to lunch with coworkers, you’ll enjoy it more.
17. Use the library. Borrow books and movies from the library. New movie releases aren’t always available, but there are usually plenty of classics from the 40s and 50s.
18. Use parks. They are great for hiking and outdoor recreation.
19. Take care of things. Treat the tings you own with respect and take good care of them. This includes doing things such as cleaning the house, washing your cars, and polishing shoes. Things last much longer when you take good care of them.
20. Buy insurance. Health insurance, home owner’s insurance, auto insurance, and other types of insurance are designed to save you money! Sure, you may end up paying premiums for years and never file a claim, but in the event you need to file a claim, your premium will likely be small compared to what you would have had to pay. You’ll be very happy if you ever need it!
21. Bundle cable and internet. You can save a lot of money by bundling these together rather than purchasing the separately. You can save more if you bundle your phone as well.
22. Use cell phones – skip the landline. Depending on your plan, it can be a real cost saving.
23. Cancel subscriptions. Almost everything you want can be found on-line for free.
24. Home improvement. Try making your own repairs before calling a professional.
25. Avoid debt. If you don’t have the money for it, don’t buy it.

Saving money and watching your savings account grow is a rewarding experience…especially if it can help you purchase a Gainesville home of your own. If you are a first-time home buyer, your $8,000 tax credit can now be used towards your down payment and closing costs. Learn how at GatorHomes.com or give me a call for more personal service.

Search all Gainesville homes for sale.