Palm Beach Real Estate and Loans

It's going to be a busy Sunday in BallenIsles with some of the best Palm Beach Gardens real estate on display.

Starting with 205 Coconut Key - a gorgeous 4/3.5 courtyard home with both water and golf views (12th hole of the South course) and an inlaw / guest cottage.

For questions about these BallenIsles Properties - or any other Palm Beach Gardens real estate - call me anytime at 561-282-7406.

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Back in February I wrote an article:

Do You Want to Buy Palm Beach Real Estate - Or Just Play Games?

It was basically about making serious offers for property that you and your family are interested in.

There is something that needs to be added to it - the importance of not waiting FOREVER to make a decision!

I would never want anyone to buy something that they really don't like, can't afford or aren't sure about.  Let's face it, we're talking about one of the biggest transactions you will ever make.

However...... 

Once you find the Palm Beach Gardens real estate that you like, you had better make an offer!

Granted, things aren't 'flying off the shelves' like they were a few years ago.  But if you find a home that you like, the odds are that someone else will like it too.

Make sure to put adequate thought into the matter - but avoid 'paralysis by analysis'. 

If the answer is 'NO', that's fine - we'll move on to something else.  If the answer is "YES", even better.  The worst possible thing you can do is 'just wait for the price to keep coming down because that's what the newspapers say to do'.

Don't even get me started with the newspapers.

Two recent events illustrate this perfectly.

• A couple had looked at several single family homes in PGA National.  We'd narrowed things down to one that they really liked - it had everything that they wanted and a better water view then they had hoped for.  Great, let's make an offer!  Well, ahh, no, not right now - we've been following the news and they say that if we wait for a few more months we'll save some money because prices are going down everywhere.  I cautioned against that and added that if they REALLY liked the home they should make an offer for what they thought it was worth.  Nah, they'd rather wait.  I kept in contact with them and stressed that I thought that they were waiting too long.  Guess what? They did decide to finally make an offer, but someone else had already bought the home.
• I'd shown a family several rental homes in Palm Beach Gardens - they found the one that they liked.  They had very specific needs and this home satisfied all of them.  I urged them to rent the home.  They waited also - I'm sure you know what happened.  Now they are running out of time before the new school year starts.......

I deal with a lot of high-end Palm Beach Gardens real estate.  More often then not, I'll be showing homes that have a lot of custom work & decorations.  I'm not talking about row after row of cookie-cutter identical homes, so when you find what you like..... it's time to get serious!

Someone called me the other day and said something that was a bit of a surprise:

"I know you don't do rentals, but......"

WHAT?!

I certainly DO handle rentals!!

Quite a few real estate agents won't get involved with rental properties.

The reason doesn't matter - I could say that it's due to laziness, but that wouldn't be very nice of me....

I work with Rental Clients all around Palm Beach Gardens - especially in BallenIsles, Mirasol and PGA National.

There are several different classifications of Rental properties:

• Annual - both furnished and unfurnished - the most common type. I've talked to a lot of people who think that they'd like to rent for a year to see if they like the area before actually buying.
• Seasonal - furnished, especially if they are combined with golf memberships, are EXTREMELY popular in the Palm Beach Gardens area.  With the number of courses available this is a great area for people to come to escape the snow for a few months. Typically December through February (or even March).  There is a little flexibility but the minimum term is rarely less than 90 days.
• Off Season - Owners that aren't using their homes during the summer will often offer this type of rental.

This morning's post has been provided by Jason Price with Knightlines Mortgage Services.

Before the questions start... Jason did write this about Lake County, FL - but the good news is that this type of loan is available in a lot of areas in Florida, including western parts of Palm Beach County.

"That's right!  100% Financing still exists in Lake County, Florida.  Despite all the obituaries about these mortgage programs, there is still one program that remains alive and well.  This is all thanks to Lake County being USDA Grade A land... and I mean that literally.

The USDA 100% mortgage loans offer many benefits to potential home owners.  The biggest being no down payment.  Also, at the top of the list is the fact that there is no extra costs in your monthly payment in terms of mortgage insurance.  Eh, what the heck?  Here is a list of all the benefits a USDA loan has to offer:

1. No Down Payment.
2. If the appraised value comes in higher than the contract sales price, you can wrap closing costs into your loan.
3. No PMI (AKA Mortgage Insurance).
4. No Reserves.  This means you do not need to have lots of money in savings, as some banks require.
5. No Minimum FICO Score.  You must at least look creditworthy.
6. Available For First Time Buyers and Non-First Time Buyers.
7. Substitute Schooling/Education for Job History.
8. Unrestricted Gifts.  Gift money is not sourced or seasoned when used for closing costs."

You can read the rest of Jason's post HERE.

For answers to all of your Palm Beach Gardens mortgage questions - or anywhere in Florida - just call me at 561-282-7406.

This Sunday - 6/22/08 - Leibowitz Realty Group will be featuring 4 properties in BallenIsles.

This is a particularly good weekend for Buyers of Palm Beach Gardens real estate to take a look there as we will be showing both single family homes and condos with a wide variety of views - golf, water and garden with prices from $499,900 to $1,099,000.

In other words - something for everybody.

 I'll be at 126 C Palm Bay Terrace this weekend-

Just drop by or call me if you have questions about any of these properties.

 
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