According to Realtor.com’s National Housing Trend Report for March, the housing market is stronger, compared to the beginning of last year. In fact, it seems as though there’s not only an increase in inventory, but there’s also a slight increase in house pricing.

Some housing numbers:

The number of properties for sale on realtor.com was up about 9.5% compared to that of March 2013 statistics. List price also increased, with the median price resting at $199,900, which is a spike of 5.3% from March 2013. The report also showed a 22.9% increase on the median age of inventory, now at 102 days.

So what does this mean for homebuyers?

Well, it looks like the housing market is a bit more balanced than it was last year at this time. Unlike last year, there wasn’t a double-digit increase in housing prices, which means there are more homes available.

This increase in available housing also means first time homebuyers and move-up buyers have more choices in affordable housing. Dissimilar from 2013, where there was a lack of inventory, competition is much lower. This, my friends, is great news!

Despite some of the positives, the sale of homes continues to be slow. These low inventories seem to “remain a significant factor in housing market health.” However, we must not be discouraged; the amount of contracts signed has remained stable over the past few months and it looks like more people are looking to buy homes these days.

(Source: Realtors.com)

Posted by: Miki Leibowitz of Leibowitz Realty)

Moving can be a stressful time for anyone and when deciding on the location you want to take several things into consideration. The quality of life of a neighborhood is so important, and you must look at many elements to make the best choice for you and your family.

Here are just a few of the things to think about:

Housing Prices – Look at the housing market in a neighborhood. Do many homes stay on the market for too long, with the owners constantly lowering the price, accepting much less than the home’s value? A lot of this information is public record and easily accessible and real estate agents can also be of help. These areas might prove to be dicey investments for a home buyer, and you may want to avoid them.

A Neighborhood’s “Look” – If you are driving through a neighborhood and notice dirty streets, many “Out of Business” signs, poor public transit and a lack of amenities such as recreational spaces, restaurants and shops, you may be considering a neighborhood that is going downhill. Buying property here would create stress in your life as well as being a poor investment.

What is Nearby? – Look closely at what surrounds the area you are considering. Is your home on a landfill? Is there a lot of traffic and noise? Are you near a railroad or an airport, and in planes’ flight paths? Is there a power plant nearby, and are the streets in need of repair? Are there many empty buildings, or are they very run down? Is there too much commercial business and industry nearby? All these things are important things to consider.

A Neighborhood’s Pride – Look at other homes in the area. Are the properties uncared for, shabby, with broken fences, and gardens full of weeds? This is an indication of a lack of pride this community may have in their homes. Your home’s resale value will not be as great if it is surrounded by rundown properties.

Taking time and being patient when buying a new home is key. Don’t rush into anything, and consider the neighborhood you are moving into as well as the home you are interested in. This will be your neighborhood too, and you want to be proud of it.

(Source: Realtor.com)

Posted by: Miki Leibowitz of Leibowitz Realty)

If you have lived in your home for a while and have made no upgrades you may be falling behind the proverbial “Joneses”. Adding to your home’s resale value is just good common sense, and giving yourself some needed upgrades will only add to your enjoyment of the living space until it comes time to sell.

Kitchen – One of the first things you might consider is expanding your kitchen. Having a more open plan in an area of your home that gets a lot of traffic, and where many people hang out, is a wonderful way to make a refreshing change to an existing space. Removing the wall between your kitchen and a family room/dining room literally brings one room into the other and creates a larger area for socializing. If you don’t have issues with structural support or need to move pipes, removing an existing wall could cost between $2,000 and $5,000, but it will be well worth it when you see how much bigger your home feels. Plus, keep in mind that future potential home buyers will be more attracted to a home that has wide open spaces rather than a bunch of rooms that are closed off from one another.

Laundry Room – If you currently have your laundry room in your basement, there is a good chance that will put potential buyers off; though you may not have a problem carrying laundry up and down two flights of stairs, who’s to say the next owner won’t? You may want to think about putting your laundry on the 2nd floor of your house, where the bedrooms and bathrooms are instead. An easy and affordable way to accomplish this is to buy stackable units, as long as you have at least a 3’x3’ space for them. If you need a bigger washer and dryer and have an unused bedroom, consider making that your new laundry room.  You can split the bedroom, using half for the laundry and the other half for a new walk-in closet.

Enlarge and organize closet space – If your home was built before 1970, it has a universal problem: no storage space. These homes were traditionally built with small closets that only had one rod – a big turn-off for potential buyers. One way to expand these small spaces is with organizing shelves, baskets, drawers, and added rods. If you are a DIYer you can accomplish this starting at about $50 per closet. If you prefer to use a professional company the cost could start at $500 per closet instead. If you want to add a closet, look for any unused space in your home and think about a walk-in closet, which goes a long way to increase your home’s value.

No matter the size of the project, making upgrades here and there around your home can make all the difference when the time comes for you to put your home on the market. Don’t be one of those homeowners who waits until the last minute to start thinking about the value of their home. Stay ahead of the curve and be proactive now.

(Source: CNN Money)

Posted by: Miki Leibowitz of Leibowitz Realty)

Question: How are memberships different from club to club?

Answer: Each golf course community in our area is unique and each club has a different membership structure. 

For example, Mirasol has two memberships — a sport membership (fitness, tennis and club privileges, but limited golf ) and a full golf membership (all inclusive). Frenchman’s Creek Beach & Country Club, Old Palm and Bears Club have only one full golf membership, which entitles you to the use of all facilities including golf, spa, dining, private beach club (only at Frenchman’s Creek), tennis, etc. Others such as BallenIsles, Admirals Cove, Frenchmans Reserve, Ibis, PGA and Eastpointe, offer less expensive social memberships as well as
the full golf and other types of memberships. To make an informed decision, speak to Realtors like us who know the ins and outs of EVERY community and how their particular memberships work. You need to know whether a membership is mandatory, how much money you get back when you sell, and if the membership stays with you or the house if you move within that same community.

Click here to download the original article published in the Palm Beach Post March 23rd 2014

Click here to review our Country Club Comparison chart.

Question: Why should I live in a golf course community if I don’t play golf?

Answer: There is a large concentration of homeowners in each golf community whose social life revolves around golf, but the golf course communities offer amenities far beyond the fairways.  Frenchman’s Creek boasts a members-only private beach club that offers dining and a pool.  Mirasol presents activities such as around-the-clock fitness classes, a thriving tennis center, cards, and a brand new kids recreation/sports center. BallenIsles, Ibis and Eastpointe offer a social membership for those who want amenities but
not necessarily sports.  Old Palm has new construction, a spa, a stunning club and small villas for guests.  If you don’t play golf but are a boater, Admirals Cove, Frenchman’s Creek and Jonathan’s Landing all offer some homes with docks and Intracoastal Waterway access.

Whether you play golf or not, there is plenty to do, and each community is unique.

Click here to download the original article featured in the Palm Beach Post Sunday March 30th 2014

Housing prices are still on the rise in 2014 and though they will rise at a slower pace, they will be steady. In 2013, out of the 276 cities that are tracked by real estate data and analysis company, Clear Capital, 225 of them showed a rise in housing prices, some by over 10 percent. In fact, the price for an average home in the U.S. went up by $30,000 to an average of $215,000. For homeowners who had the patience to wait before refinancing or selling, this is the perfect time to do both.

Traditional buyers felt a sense of urgency in 2013 to take advantage of affordable home prices and low mortgage rates. However, the selections for these buyers were limited, and potential buyers ended up competing with investors who came with major financial backing or other buyers who could pay cash for the property. These bidding wars were great for the sellers who ended up with quick sales and often received their full asking price or higher.

Clear Capital reports that most houses will rise in price from 3 to 5 percent in 2014. Non-profit association, The Conference Board, reports that the number of buyers who are ready to purchase a home in the next six months will be at the highest level since 2000.

The Conference Board also sees the number of young adults who are seeking to purchase homes, increase due to the high numbers of college grads finally moving away from their parent’s homes, and the fact that rental prices can be too steep. It will make more monetary sense to buy a home, instead of losing money on high priced rentals.

(Source: MSN Real Estate)

(Posted by: Miki Leibowitz of Leibowitz Realty)

Spring is always a great time to place your house on the market. The weather is breaking and more people are out and about looking at homes to purchase. Spring is also a time of new beginnings and even homeowners who may not have been thinking of moving get the urge to see what is out there. So if you are planning on cashing in on this great season for buying and selling homes, there are a few important things you must do to get your home ready to go on the market:

Locate the Right Real Estate Agent Now – Since you won’t be the only homeowner thinking that this is the perfect time to sell, it is best to start searching for an agent now. You may need to meet with a few agents before making a final decision about which one is right for you. Waiting until the last minute is not a wise idea. Finding a real estate agent that understands your individual needs is crucial to the success of the entire process, so the more time you give yourself to find the right one, the better off you will be when your home is finally on the market.

Have the Major Systems in Your Home Inspected – Before you put your home on the real estate market, it is best to have the major systems in your home inspected to be sure that they are all in good working condition. The heating, cooling, plumbing and electrical systems should be checked thoroughly by professionals in the industry so that there are no surprises when potential home buyers start looking at your house. Anything that needs repairing can be taken care of ahead of time, which makes the selling process much less stressful.

The House Should be Clean and Tidy – A neat and uncluttered home will stand out above the rest of the houses on a saturated market. Potential buyers pay attention to the details, and a neat and tidy house enables them to be able to see their own vision for your home. When a home is cluttered with too many personal items and is generally unkempt, buyers can be very distracted by that uncleanliness and find it difficult to see themselves living in the home.

Seek Help When Pricing Your Home – If you are not sure how you should price your home, consult with a professional on the matter. If you have an agent, they will assist you in pricing your home to sell quickly, and it is wise to listen to their advice. As the homeowner, you may be taking things into consideration that will not matter to a buyer; an agent can look at the situation objectively and give the best suggestions on listing prices.

Complete Any Unfinished Home Improvement Projects – If you or a worker has started some home improvement projects, be sure to finish them before allowing buyers to see your home. Unfinished projects are a huge turn-off for potential buyers and tend to make the home appear unattractive. They may also raise concerns for the buyers as to how much money and work will need to be put into the home once purchased.

The spring and summer seasons are ripe times to think about selling your home but with so much competition on the housing market during these seasons, you will want to be sure to do everything it takes to stand heads above the competition.

(Source: Forbes)

(Posted by: Miki Leibowitz of Leibowitz Realty)

The economic collapse took a toll on the housing market, causing prices to fall and lenders to lock up their pocketbooks, putting the buyer’s dream of owning their first home out of reach. Since this time of recession and depression, the housing market has risen; lenders are now allowing borrowers to open lines of credit and take out home equity loans and the return of home equity lending is a comeback of sorts. If you are interested in pursuing a home equity loan, here are some things to consider:

You Need Equity – It is common to have substantial loan-to-value ratio, which is the proportion of remaining balance on your loan compared to the value of your home or property. Most lenders require that homeowners own twenty percent of their home before applying for a home equity loan.

Two Types – There are two different types of home equity loans to choose from. First, is the standard home equity loan where you borrow one lump sum. This type of loan is ideal for those are seeking one major expense such as repairing a crack in the home’s foundation. Paid over a predetermined length of time, a standard home equity loan does require closing costs however they are much less than a full mortgage.

A home equity line of credit or HELOC is where you borrow smaller sums of money as needed up to a fixed, predetermined amount. You can borrow as you wish and only pay interest on what you borrow. This option is great for borrowers who are supporting a small start-up business or a six month long home improvement project.

It’s Still a Mortgage – Even though it is a home equity loan, it is still considered a type of mortgage. This can have advantages though. The interest you pay on your home equity loan or line of credit is usually tax deductible. Second, the rates on a line of credit or home equity loan tend to be lower than unsecured loans because it is a mortgage secured by your home.

Now is the best time to enter the housing market and we can help! To learn more about our services and how we can help you, visit our website!

(Posted by: Miki Leibowitz of Leibowitz Realty)

Considering the fact that the adjustment is often quite difficult, moving into a new home can be an extreme challenge – especially if you have young children. For one, choosing a new home is not the only thing you must decide on as a parent. There are plenty of other factors that should be taken into account when it comes to keeping your children’s best interest at heart, and their education is one of the most important. With the help of experts, we have collected a few tips on how to choose the best school in in the Palm Beach Gardens Area.

Begin your research for quality schools online. The web is a great resource for most anything and will serve as a great tool when it’s time to finding schools in your new district, as well as their rank and reviews. Once you have a list together, the National Center for Education Statistics website has data for each of those schools, and Schooldigger.com is a great site if you want to compare your favorite schools side by side.

Your real estate agent is also a great source when it comes to searching for the best school for your child. Your agent will be able to recommend the best school districts and information on local neighborhoods. Private schools have more leniencies on the boundaries if you decide on a location that is out of a school’s district range. If you are set on a great public school however, it would be in your best interest to have your real estate agent contact the school’s office and inquire if the school’s boundaries are subject to change.

Once you have decided on a couple options, make appointments to tour the schools. Staff, administration and teachers will be ready to meet with you and show what their educational facility has to offer for your child.

(Source: Realtor.com)

(Posted by: Miki Leibowitz of Leibowitz Realty)

The initial thought of moving for a homeowner raises a lot of questions. The biggest one being: Do I purchase a new home and then sell my current home, or should I sell my house and then find another? The answer to this question and many more dilemmas homeowners face depends on personal finance options and local market conditions, so consider some of these aspects when debating between buying first or selling first:

One initial factor to look at when considering a move is your financial options. Since it may be unlikely that you will be able to pay for your next home in cash, most buyers use the equity from their current home as a down payment on their future house. A common solution amongst homeowners is to sell your home and negotiate with the buyer to rent it back. Now while this is a great option, be mindful that you will need to pay them for the rental. On the other hand, you could temporarily live with family or loved ones while in-between properties, which is a cost-effective way to transition if you choose to sell first.

There are also things to consider when working with lenders. Some companies offer bridge loans for qualifying homeowners, which help with the transition depending on their credit score and equity in their current home. Talking with your real estate agent will help evaluate your options and find the best alternative for you.

Another important factor to consider is the current real estate market conditions. Working with a knowledgeable realtor on the current market, neighborhood, style and price range for your property educates you on the going rate for properties similar to yours. This will show you how quickly homes are selling and for how much – which is an important factor that will help you decide whether or not it is in your best interest to sell or buy first.

At the end of it all, you simply have to decide which thought you are most comfortable with: selling first and possibly having to wait to find a home you like, or buying first and possibly taking on two mortgage payments at once. Luckily, your real estate team will be there to help you determine which path is right for you.

(Source: Realtor.com)

(Posted by: Miki Leibowitz of Leibowitz Realty)