Investment Idea with Legs: an West Palm Beach Rental Property When any investor first begins to mull over the idea of acquiring a rental property in West Palm Beach, it’s usually in competition with an array of other investment types—each with its inherent plusses and minuses. Some of them are new ideas (new technology company stocks; new forms of commercial exchange)—but real estate is definitely not one of those. It may not be innovative, but being a landlord has always been one of the leading sources of passive income. What is exciting about rental property is why it has always been recognized as a sound investment. When the income from a West Palm Beach rental property is able to pay for its own underlying mortgage, it self-propels its growing equity. The rental property’s investme... 09/04/2014

Downsizing in Follows an Empty Nest—or Not! Many people assume that when the kids leave home, their newly empty nest automatically signals that downsizing into a smaller house or condo is the next step. In truth, for such families living in West Palm Beach, downsizing is a common option—one that could very well be the best choice. But, as the old Gershwin tune says, “it ain’t necessarily so...” For many of us, once we establish a firm direction in life, a lot of decisions are more or less made without much hesitation. Career, family, and even community needs head us in certain directions, so a lot of choices are obvious. But every once in a while the paths open up, and it’s time to take a breath, clear the head, and realize that there may be a lot more freedom to change course than we ... 08/31/2014

The numbers are in for July for Palm Beach County towns. The biggest benefit in this monthly marketing report for our readers is to provide content rich local information from a trustworthy source The Realtors® Association of the Palm Beaches.  Understanding that an educated buyer and seller when provided with the latest facts in our marketplace creates trust and develops relationships to make educated decisions when it comes to buying and selling real estate. I hope you enjoy the reports and look forward in discussing any questions that you might have in one of the most desirable real estate markets in Palm Beach County Florida.  Please feel free to call me for any of your real estate needs.   08/28/2014

Serious Buyers Typify Palm Beach County Luxury Home Sales Market With summer drawing to a close (say it isn’t so!), it’s time to cast an eye towards the prospects for this year’s fall home sales market. Fall can be a great time to list a home, but it can be especially opportune for luxury home sales in West Palm Beach. It’s a season that traditionally brings out serious buyers—those looking to find a home and complete the move before the holidays. If you are selling a property that falls into the luxury home category, before you roll up your sleeves and get to work in earnest, here are some broad-brush pointers real estate writers cite most often: Make Sure You Work With the Right Agent Before you even begin other preparations, you can make the most efficient use of your time by first ... 08/24/2014

HOMES, HOT RODS, & HARLEY'S of Palm Beach & South Florida   Pep Boys of West Palm Beach Annual Event My new series of blogs that I have title Homes, Hot Rods, & Harley's. The present and past events have taken place in the S. Florida area surrounding Palm Beach, Broward, and Miami Dade counties. We are home to several race tracks and speedways in the area which give way to weekly and daily cruise-ins & car shows in various locations.   The likes of Car Show Television, Hooked on Driving, Cars & Coffee, and Florida Car Shows can point you the direction to a local spot to drive your rod for display.  Also don't forget the Harley's either they can be found at many of the shows locally or major annual events.  Of course if you are looking for a new ride check out West Palm Beach Harley Davi... 08/24/2014

Alternate Programs Sometimes Aid West Palm Beach First Time Buyers In an improving residential real estate market, first time buyers may flinch at the greater loan amounts that accompany larger price tags. Lending standards have also put some first time buyers through a tougher gauntlet than faced during many previous eras. Although some easing is now beginning to take place, some Palm Beach County first time buyers can still find it difficult to secure the level of funding they seek. For them, there are a number of alternative funding possibilities that first time home buyers in West Palm Beach may wish to explore. Here are some of the assistance programs that can serve buyers as they go about buying that first home: The U.S. Department of Veterans Affairs (VA) Home Loan Guaranty Serv... 08/20/2014

Property Type Wording Cues West Palm Beach Prospects’ Expectations If you are preparing to sell your property in West Palm Beach this fall, it’s worth considering what the marketing angle will be: how to characterize it most accurately—and appealingly. It starts with the choice of wording for your home’s property type, which will set up prospective buyers’ expectations before they come upon the more detailed description. Cottage or Bungalow This property description instantly conjures up images of a small, cozy, picturesque West Palm Beach property. Buyers attracted to a cottage are likely to appreciate features that indicate economy and efficiency. The marketing message can emphasize practicality and the charms of a compact, tidy, easily maintained living space. Penthouse This type of... 08/18/2014

West Palm Beach Rental Owners Take Advantage of Tax Benefits As a homeowner in West Palm Beach, you are pleasantly reminded each April 15th that the interest portion of your mortgage payments is 100% tax deductible. When you own West Palm Beach rental property, though, the tax implications are considerably different. You need to report rental payments you receive from your tenants as income—but you’ll also be able to write off some related expenses, as well. Each of the more than 22 million landlords in the United States are subject to the same rules and regulations. If you’ve recently become one of them (or will soon join their ranks), here is a quick look at the kinds of items you will want to track to take full advantage of the tax benefits: Almost everything you do to improve, fix,... 08/12/2014

Buying a Home in West Palm Beach with No Owner Disclosures Suppose that in the course of buying a home in West Palm Beach, your eye is drawn to a bank-owned home, or a home held in a trust. There are many reasons why you could find yourself buying a West Palm Beach home that’s currently vacant—which can also mean that the usual owner disclosures are not to be had. There are perfectly innocent reasons why this situation develops. Suppose the sellers of the property have just inherited it. How would they know that water tends to pool under the house during a strong rainstorm? Or that unpermitted repairs were made to the electric wiring in the kitchen? If thoughts like these cause beads of sweat to pop out all over your forehead, don’t fret. This summer we can find you plenty of alternati... 08/06/2014

When you begin scouring the West Palm Beach listings for a new home, the cost of home appears to be right there at the top: the asking price. All the other details about the property are there, too, but they usually get close attention only after that dollar amount at the top falls within (well, is at least close to) your target number. But as soon as the shopping starts to narrow the field, the financial implications of those other details begin to reveal themselves. Good thing! In fact, the true bottom line cost of your new Palm Beach County home will be greatly affected by them. Many buyers work with the details exactly as presented—but as a purchase grows more likely, they should consider them simply as starting points. Back when home prices were racing steadily upward, it may have... 07/31/2014

Listing your house in West Palm Beach anew after it’s lingered on the market for a while can bring surprisingly quick success…with the right tactics. The truth is, if a home hasn’t sold in today’s market, there is usually an identifiable reason. Here are some tips that can reverse what happened when listing your house the first time failed to strike pay dirt: Compare prices of comparable homes that have sold in your neighborhood, and use those as the benchmarks. If your area listing was priced to allow 10-20% for negotiating room, that’s the likely culprit. Consider listing your West Palm Beach house at 1% to 5% below your competitors—it’s a proven way to get more feet through your entryway. A well thought-out marketing strategy with multiple advertising channels can be a necessity in ... 07/31/2014

The June 2014 numbers are in. The biggest benefit in this monthly marketing report for our readers is to provide content rich local information from a trustworthy source The Realtors® Association of the Palm Beaches.  Understanding that an educated buyer and seller when provided with the latest facts in our marketplace creates trust and develops relationships to make educated decisions when it comes to buying and selling real estate. I hope you enjoy the reports and look forward in discussing any questions that you might have in one of the most desirable real estate markets in Palm Beach County Florida.  Please feel free to call me for any of your real estate needs.   07/30/2014

International home buyers are becoming an increasingly important part of the national real estate landscape. According to the National Association of Realtors®, home buyers from around the globe are spending billions on property in the U.S. Many of these well-heeled international home buyers don’t require financing—which means the sales are often easy to accomplish (for example, last year, 70% of houses bought by Chinese buyers closed in cash!).   But that’s not to say that marketing to out-of-country buyers is a snap. If you have a property in West Palm Beach you believe could have foreign appeal, read on. There are some specific ins and outs for marketing to international home buyers: Since many prospective international home buyers for West Palm Beach will not be able to physically ... 07/30/2014

07/25/2014

Scams You Can Avoid When Moving to West Palm Beach Moving to West Palm Beach (or moving to anywhere) is adventure enough without including one of the moving company scams that are all too common. It seems hard to believe that unscrupulous carriers can continue to operate, but the fact is, there are a lot of them out there. If you will be moving to West Palm Beach anytime soon, you don’t have to worry about any of the rip-off artists if you follow some straightforward guidelines: Check the FMCSA The Federal Motor Carrier Safety Administration runs a household goods program designed to aid consumers. Their website includes a search feature that records past complaints for known companies…but be aware that only interstate movers are listed. Along with complaint information, it lists compa... 07/24/2014

  Sheriff Ric Bradshaw and the Palm Beach County Sheriff’s Office have partnered with theAudible Media Group on a new state-of-the-art traffic application designed to provide residents with voice-activated, user-controlled, on-demand, audio traffic reports and PBSO breaking news and alerts, Chief Technology Officer Deniz Kumral reminded the public on Monday. Called the PBSO Audio Traffic App, Bradshaw was skeptical when he first learned about the concept for a traffic report cell phone app designed to cut down on distracted driving. “The expertise that was brought to this app was — we believe to be — state of the art,” explained Bradshaw at a recent press conference unveiling the new technology.  “The biggest piece of the puzzle that had to be in place was we didn’t want to have someth... 07/23/2014

Balancing Risk, Reward in West Palm Beach Seller Financing Agreements When home prices in West Palm Beach are on the rise, one side effect is that first-time homebuyers may run into a financing obstacle. Although the stricter lending standards of the past few years have been easing somewhat, it still can be difficult for some folks (younger buyers, especially) to purchase the West Palm Beach home they have in their sights. In that situation, an alternative to a traditional bank mortgage is seller financing. Many prospective buyers know little about the details that make up a seller financing agreement, and how it can–or cannot—help them secure a home. What Seller Financing Is… It’s as simple as the words themselves. When part or all of the purchase price of a property is carried by the... 07/21/2014

The May numbers are in. The biggest benefit in this monthly marketing report for our readers is to provide content rich local information from a trustworthy source The Realtors® Association of the Palm Beaches.  Understanding that an educated buyer and seller when provided with the latest facts in our marketplace creates trust and develops relationships to make educated decisions when it comes to buying and selling real estate. I hope you enjoy the reports and look forward in discussing any questions that you might have in one of the most desirable real estate markets in Palm Beach County Florida.  Please feel free to call me for any of your real estate needs.   06/27/2014

Rental Home Prep is a Matter of Checking Off the To-Do’s The sunny attitude that encourages entrepreneurs to look at a box of lemons and think ‘lemonade!’ is widely admired, and it does seem to be a viewpoint that successful people cultivate. For anyone who is determined to sell their Palm Beach County property—but only at a price the market is not yet willing to pay—well, the turn-lemons-into-lemonade situation is entirely apt. After all, smart investors are buying up and renting properties like yours quite deliberately because they realize that a West Palm Beach rental home is not just an asset that can appreciate over time, but one that can also produce income at the same time.   Whatever your own reason for renting, when you put a rental home in West Palm Beach on the market, exper... 06/24/2014

FLAMANGO LAKE HOME SOLD!2670 Flamango Lake Drive, West Palm Beach, Florida 33406 JUST SOLD! This great pool home featured 3 bedrooms, 2 bathrooms and a 1 car garage. Just a few interior features included tile throughout the living areas, vaulted ceilings and a split floorplan. Exterior features included an oversized covered and screened patio, private pool and a fenced lot. Listed on March 19th, 2013 for $190,000 this Flamango Lake pool home received multiple offers and SOLD on June 16th, 2014 for $205,000 to a conventionally financed home buyer.Flamango Lake is centrally located in West Palm Beach Florida and is minutes away from I-95, the Palm Beach International Airport and Florida beaches. Great schools are also a short walk, bike ride or drive away from Flamango Lake.2670 Flamango ... 06/23/2014