Gainesville FL Real Estate Blog

Pending home sales rose with many first-time buyers taking advantage of historically good housing affordability conditions, according to the National Association of Realtors®.

The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in March, increased 3.2 percent to 84.6 from a level of 82.0 in February, and is 1.1 percent higher than March 2008 when it was 83.7.

Lawrence Yun, NAR chief economist, said it should take a few months for the market to gain momentum. “This increase could be the leading edge of first-time buyers responding to very favorable affordability conditions and an $8,000 tax credit, which increases buying power even more in areas where special programs allow buyers to use it as a downpayment,” he said. “We need several months of sustained growth to demonstrate a recovery in housing, which is necessary for the overall economy to turn around.”

Let’s take a look at the Gainesville FL real estate sales statistics for April to see how the market looks in our area:

The Gainesville FL area single family home sales experienced a 18% decline in new listings in April 2009, when compared against April 2008.  Pending listings were down 5%.  Sold listings decreased by 25% and the average sales price decreased by 7% to $211,819, while market times increased by 37 days. 

The Gainesville FL area Condo/TH market saw the average sales price decrease by 3% to $147,973 in April 2009 compared to April 2008.  Likewise, new listings were down 34% and sold listings were down by 60% in April 2009.  Pending sales decreased by 41%, while the average market times increased by 76 days.
 

For the latest Gainesville FL real estate market conditions in your area, please call me at 888-424-8841 or visit MyGatorCondo.com.

2009 is a great time to buy Gainesville real estate. With moderate prices, and abundance of inventory, pre-foreclosures galore, near record low interest rates and the first-time home buyer tax credit, Gainesville real estate buyers are definitley in control! Below are 5 powerful Gaineville real estate buying strategies:

1. Don’t Get “Pre-Qualified!” Get “Pre-Approved” 

Do you want to get the best house you can for the least amount of money when buying Gainesville real estate? Then make sure you are in the strongest negotiating position possible. Price is only one bargaining chip in the negotiations, and not necessarily the most important one. Often other terms, such as the strength of the buyer or the length of escrow, are critical to a seller. In years past, we always recommended that buyers get “pre-qualified” by a lender. This means that you spend a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you “pre-qualified” and issues a certificate that you can show to a seller. Sellers are aware that such certificates are WORTHLESS, and here’s why! None of the information has been verified! Unknown problems can surface for example: recorded judgments, child support payments due, glitches on the credit report (due to any number of reasons both accurately and inaccurately), down payment funds that have not been in the clients’ bank account long enough, etc. So the way to make a strong offer today is to get “pre-approved”. This happens AFTER all information has been checked and verified. You are actually APPROVED for the loan and the only loose end is the appraisal on the property. This process takes anywhere from a few days to a few weeks depending on your situation. It’s VERY POWERFUL and a weapon we recommend all of our clients have in their negotiating arsenal. 

2. Sell First, Then Buy 

If you have a house to sell, sell it before selecting a house to buy! Let’s pretend that we go out looking for the perfect house for you. We find it and you love it! Now you have to go make an offer to the seller. You want the seller to reduce the price and wait until you sell your house. The seller figures that’s a risky deal, since he might pass up a buyer who DOESN’T have to sell a house while he’s waiting for you. So he says OK, he’ll do the contingency but it has to be a full price offer! So you see, you paid more for the house than you could have because of the contingency. Now you have to sell your existing house, and in a hurry! Otherwise you lose the dream house! So to sell quickly you might take an offer that’s lower than if you had more time. The bottom line is that buying before selling might cost you TENS OF THOUSANDS of dollars. We always recommend that you sell first, then buy. If you’re concerned that there is not a house on the market for you, then go on a window-shopping trip. You can identify possible houses and locations without falling in love with a specific house. If you feel confident after that then put your house on the market. Another tactic is to make the sale “subject to seller finding suitable housing”. Adding this phrase to the listing means that WHEN YOU DO FIND A BUYER, you will have some time to find the new place. If you don’t find anything to your liking, you don’t have to sell your present home. 

3. Play the Game of Nines 

Before house hunting for Gainesville real estate, make a list of nine things you want in the new place. Then make a list of the nine things you don’t want. We call this “NINE OF THIS AND NONE OF THAT”. You can use this list as a scorecard to rate each property that you see. The one with the biggest score wins! This helps avoid confusion and keeps things in perspective when you’re comparing dozens of homes. When house hunting, keep in mind the difference between “SKIN AND BONES”. The BONES are things that cannot be changed such as the location, view, size of lot, noise in the area, school district, and floor plan. The SKIN represents easily changed surface finishes like carpet, wallpaper, color, and window coverings. Buy the house with good BONES, because the SKIN can always be changed to match your tastes. I always recommend that you imagine each house as if it were vacant. Consider each house on its underlying merits, not the seller’s decorating skills. 

4. Don’t Be Pushed Into Any House 

Your agent should show you everything available that meets your requirements. Don’t make a decision on a house until you feel that you’ve seen enough to pick the best one. Review the Multiple Listing printout with your agent to make sure that you are getting a COMPLETE list. In the late 1980′s, homes were selling quickly, usually a few days after listing. In that kind of market, agents advised their clients to make an offer ON THE SPOT if they liked the house. That was good advice at the time. Today there isn’t always this urgency, unless a home is drastically under priced, and you’ll know if it is. Don’t forget to check into the SCHOOL DISTRICTS of the area you’re considering. Information is available on every school; such as class sizes, % of students that go on to college, SAT scores, etc. You can get this information from your agent or directly from the school. 

5. Stop Calling Ads! 

A word of caution – agents create ads solely to make the phone ring! Many of the homes have some drawback that’s not mentioned in the ad, such as traffic noise, power lines, or litigation in the community. What’s not mentioned in the ad is usually more important than what is. For this reason, we want you to be very careful when reading ads. Remember that the person writing the ad is representing the seller and not you! The most important thing you can do is have someone on your side looking out for your best interests. Your own agent will critique the property with an eye towards how well it meets your needs and will point out any drawbacks you should know about. So whether you decide to work with us or not, pick an agent you feel comfortable with and enlist the services of that agent as a buyer’s broker. Then you become a client with all the rights, benefits, and privileges created by this agency relationship, and you’re no longer just a shopper. Did you know that many homes are sold WITHOUT A SIGN ever going up or an AD EVER BEING PUT IN THE PAPER? These “great deals” go to those people who are committed to working with one agent. When an agent hears of a great buy, who do you think he’s going to call? His client, who he has a legal obligation to work hard for, or someone who just called on the phone and said “keep your eyes open”? So, to get the best buy on a property, we always recommend that you hire your own agent and stick with him.

 To learn more about buying Gainesville real estate, visit our websites, GatorHomes.com and MyGatorCondo.com, or give us a call for more personal service.

Search all Gainesville real estate and homes for sale.

Should I move up to a larger home is a question many Gainesville FL home owners are asking.  The questions below will help you decide whether you’re ready for a home that’s larger or in a more desirable location. 

1. Have you built substantial equity in your current home? 

If you have owned your Gainesville FL home for a number of years you might have built up some equity. Look at your annual mortgage statement or call your lender to determine your loan balance. Then give me a call to determine your home’s market value. The difference between your loan amount and market value is your equity. You can also get your market value by clicking here. 

2. Has your income or financial situation improved? 

If your income has increased, you may be able to afford a higher mortgage payment. 

3. Have you outgrown your neighborhood? 

Often, the neighborhood or location you buy your first home in may no longer suit your needs. You may want to be closer to work, be in a better school district or have a home on a lake rather than close to it. 

4. Are there reasons why you can’t remodel or add on? 

Sometimes adding on to your current home is the answer. If you will end over-improving for the neighborhood, moving may be a better option. 

5. Are you comfortable moving in the current housing market? 

In the current  real estate market, your Gainesville FL home may not sell quickly for what it would have a few years ago, but the home you buy also less expensive expensive. 

6. Are interest rates attractive?

A low rate not only helps you buy a larger home, but also makes it easier to find a buyer and interest rates are currently at record lows. 

If you answer yes to most of the questions, it’s a sign that you may be ready to move. If so, please visit GatorHomes.com to learn more about the local real estate market or give me a call. I’m glad to help!

Search all Gainesville FL homes for sale.

I found a great website, Energy Savers, with energy saving tips for Gainesville home owners. This site provides homeowners with tips for saving energy and money at home and on the road. 

By following just a few of the simple tips found on this Energy Savers Web site, you can make your home more comfortable and easier to heat and cool-while you save money. The site also helps you beat the high cost of fuel, with driving and car maintenance tips to save you money on the road.

Some easy low-cost and no-cost ways to save energy include: 

• Install a programmable thermostat to keep your house comfortably warm in the winter and comfortably cool in the summer.
• Use compact fluorescent light bulbs with the ENERGY STAR® label.
• Air dry dishes instead of using your dishwasher’s drying cycle.
• Turn off your computer and monitor when not in use.
• Plug home electronics, such as TVs and DVD players, into power strips; turn the power strips off when the equipment is not in use (TVs and DVDs in standby mode still use several watts of power).
• Lower the thermostat on your hot water heater to 120°F.
• Take short showers instead of baths.
• Wash only full loads of dishes and clothes.
• Drive sensibly. Aggressive driving (speeding, rapid acceleration and braking) wastes gasoline.
• Look for the ENERGY STAR label on home appliances and products. ENERGY STAR products meet strict efficiency guidelines set by the U.S. Department of Energy and the Environmental Protection Agency. 

If you are a Gainesville home owner, I encourage you to check out Energy Savers. Following a few of their suggestions will not only put more money in your pocket, but make our planet healthier and greener. 

Thinking about buying a Gainesville home, visit GatorHomes.com. It’s a great place to learn about Gainesville real estate and view Gainesville homes for sale.

Gainesville Real Estate For Sale:

8420 SW 7th Place, Gainesville FL 32607
Listing # 301785

Spacious Pool Home On .8 Acre Boasts Stone Fp, Large 2 1/2 Car Garage, Private Back Yard, Pool Enclosure And Huge 14 X 21 Master Bedroom With Walkin Closet. Enjoy The Garden Area Off The Breakfast Nook Or The Pool And Hot Tub From The Living Areas. Vaulted Ceilings Add To The Airy Feeling.your Paradise Conveniently Located Near The Oaks Mall, I-75, Shopping And Hospital.

Learn more about 8420 SW 7th Place and other Gainesville FL real estate by visiting GatorHomes.com or MyGatorCondo.com.

Search all Gainesville FL real estate and homes for sale.

If you are thinking of selling your Gainesville home this spring, now is the time to start getting ready to sell. Below are 5 steps to take before putting the ‘For Sale’ sign in the yard: 

1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin. 

2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine. 

3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.  

4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house. 

5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments? 

Learn more about selling your Gainesville home at GatorHomes.com or MyGatorCondo.com. 

What is your Gainesville home worth?

www.REALTOR.org/realtormag Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® . Copyright 2003. All rights reserved.

Gainesville FL Real Estate:

2118 NE 101st Avenue, Earleton FL 32631
Listing # 297066 

Breathtaking View!! Stunning Townhome On Lake Santa Fe With New Travertine Tile Downstairs. Gorgeous Views Of The Lake From One Of Two Master Bedrooms Upstairs Living Room, screened Porch And Wood Deck Downstairs. Community Docks And Boat Ramp Make This Showplace The Ultimate Getaway. Carefree Maintenance Includes Hardie Board Siding And Lawn Care. Lot For A Garage Included. Bring Your Beach Towel And Enjoy!! Security System As Is – Never Used.

Learn more about 2118 NE 101st Avenue and other Gainesville FL real estate by visiting GatorHomes.com or MyGatorCondo.com.

Search all Gainesville FL real estate and homes for sale.

Should I move up to a larger home is a question many Gainesville homeowners are asking.  The questions below will help you decide whether you’re ready for a home that’s larger or in a more desirable location. 

1. Have you built substantial equity in your current home? 

If you have owned your Gainesville home for a number of years you might have built up some equity. Look at your annual mortgage statement or call your lender to determine your loan balance. Then give me a call to determine your home’s market value. The difference between your loan amount and market value is your equity. You can also get your market value by clicking here. 

2. Has your income or financial situation improved? 

If your income has increased, you may be able to afford a higher mortgage payment. 

3. Have you outgrown your neighborhood? 

Often, the neighborhood or location you buy your first home in may no longer suit your needs. You may want to be closer to work, be in a better school district or have a home on a lake rather than close to it. 

4. Are there reasons why you can’t remodel or add on? 

Sometimes adding on to your current home is the answer. If you will end over-improving for the neighborhood, moving may be a better option. 

5. Are you comfortable moving in the current housing market? 

In the current real estate market, your Gainesville home may not sell quickly for what it would have a few years ago, but the home you buy also less expensive expensive. 

6. Are interest rates attractive?

A low rate not only helps you buy a larger home, but also makes it easier to find a buyer and interest rates are currently at record lows. 

If you answer yes to most of the questions, it’s a sign that you may be ready to move. If so, please visit GatorHomes.com to learn more about the Gainesville real estate market or give me a call. I’m glad to help!

What is your Gainesville home worth?

One man’s loss is another man’s gain and right now buyer’s have everything to gain. It was only a few short years ago that sellers controlled the market and were calling the shots. In order to buy a home, buyers were paying over the asking price, foregoing home inspections and paying all their own closing costs. Gainesville home buyers were jumping through any and all hoops. 

Now the market has shifted. The strong sellers’ market is a thing of the past and it is the sellers who are jumping through hoops. Buyers are calling the shots with offers that include home inspections; requests that closing costs, homeowner association fees and inspection fees be paid by the seller; decorating allowances; home improvement; and prices far below the asking price. 

So why are buyers hesitating? Fear of a tanking economy, falling home prices and job instability are concerns for many potential home buyers. But if you are financially stable and plan to stay in a home for at least five years, there are 5 top reasons to buy a Gainesville home in 2009: 

1. Homes are affordable.

According to the National Association of Realtors‘ housing affordability index, homes were more affordable in December than at any other point since the group started the index in 1970. The affordability index is a measure of the relationship between home prices, mortgage interest rates and family income.

A recent report from Moody’s Economy.com predicted that house prices will stabilize by the end of this year. The Office of Federal Housing Enterprise Oversight’s Web site has a house price calculator that can help. Visit the calculator. 

2. There are lots of homes to choose from.

The slow down in the housing market has caused homes to stay on the market longer, creating a huge inventory. There was a 9.6-month supply of unsold existing homes in January given that month’s sales pace, according to NAR. 

A large inventory gives buyers more selection, driving down prices. As buyers start to jump back into the market, the inventory will shrink and cause prices to start going back up. The time to get the best deal is before most buyers buy. 

3. Builders are offering perks.

New home builders are offering price reductions, free upgrades and other perks such as free appliances, homeowners’ fees being paid, lower interest rates decorating allowances. Once their inventory shrinks, these perks will go away. 

4. Interest rates are at historical lows.
Lenders are not lending as freely, but if you have good credit and the needed down payment, mortgage interest rates are historically low and hovering around 5 percent. 

5. There is an $8000 tax credit

If you are a first-time Gainesville home buyer, you will qualify for an $8000 federal tax credit if you buy before December 1, 2009. Unlike the previous tax credit offered in 2008, this does not have to be repaid. Extra money comes in handy when buying a home. 

Trying to decide if buying a Gainesville home in 2009 is right for you. Give me a call. I’m glad to review your situation with you. Also visit GatorHomes.com for more info.

Search all Gainesville homes for sale.

Gainesville Homes For Sale:

1005 SW 105th Terrace, Gainesville FL 32607
Listing Number: 299123 

Gorgeous Energy Star Certified Home Welcomes You Through The Leaded Entry Door Into Spacious Great Room With Gas Fp And French Doors Onto 500 Sq Ft Sun Room (not Included In Sq Footage) Overlooking Lush Landscaped, Fenced Backyard. Designer Kitchen Boasts Corian Countertops, One Year New Stainless Steel Appliances And Hickory Cabinets. 4th Bedroom, Best Used As Study, Has Separate Entrance. High Ceilings, Crown Molding, Jetted Tub And High Efficiency Windows Make This Home A Must See! Room For A Pool To Be Built!

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Learn more about 1005 SW 105th Terrace and other Gainesville homes for sale at GatorHomes.com.

Search all Gainesville homes for sale.