Blog on real estate in Daytona Beach and surrounding areas
There are currently 52 blog entries related to this category.
Interesting article by Brandon Turner: How I Used Real Estate to Completely Fund My Kid's College Education
Monday, February 27th, 2017 at 7:34pm. 288 Views, 0 Comments.
By Brandon Turner
Six months ago, my wife and I welcomed Rosie into the world -- our first child. A week after she was born, I had her entire college education paid for without spending a single dollar of my own money.
How? Through one single real estate investment.
The plan is simple, if not necessarily easy:
- Buy a piece of property.
- Let my tenant pay off the mortgage over the next 18 years.
- Sell or refinance the property after it has been paid off.
- Use the proceeds to pay for my daughter's college tuition -- or whatever future she wants.
In my case, I purchased a four-unit property in my local area. Fixed up, it should be worth around $160,000 in today's market; and assuming an average increase in inflation of around 3…
Monday, December 12th, 2016 at 7:00am. 759 Views, 0 Comments.
Article by Lisa Kaplan Gordon
What is a multifamily home? It’s a building with more than one unit where people can live, each with their own separate kitchens, living rooms, electric bills, and so forth. Also called a multidwelling unit, or MDU, they are typically found in densely populated areas such as cities where space is at a premium. Multifamily homes can be rented, be owned, or serve as an investment property where landlords can collect rent from tenants.
There are around 4 million multifamily dwellings nationwide, compared with 90 million single-family homes. Although living in close quarters with others may not be ideal in terms of privacy or noise, people in multifamily homes generally pay less than those in single-family…
Saturday, November 12th, 2016 at 4:29pm. 295 Views, 0 Comments.
Article by Dylan Chalk
There is nothing sexy about a foundation. Nobody ever cuts their monthly mortgage check and says to themselves, “boy, that’s a lot of money but it sure is worth it to live on top of such a great foundation.”
However, it is not an understatement to say that the entire investment that is your house rests on the foundation. Choose a house with a bad foundation and you have selected a house that has bad bones. Foundation repairs are expensive and can become a home owner’s nightmare. So, understanding a few rudiments of foundations is a great place to start learning about how to look for and select a house to buy.
1. Foundation Materials
Foundations can be built from a variety of different materials. The most…
Wednesday, October 26th, 2016 at 1:22pm. 354 Views, 0 Comments.
Having a place to call your own—whether you’re going to be there for four years or forever—is an essential part of the American dream. The U.S. Department of Veterans Affairs offers plenty of great programs to help those who have served in the military get there, but the process isn’t foolproof. People can (and do) make mistakes buying their first home, second home, or 10th home.
You can avoid your own tale of woe (or head-banging frustration) by avoiding those mistakes before you start your home search. We asked VA-savvy Realtors® to tell us which missteps they see the most—and how you can do the whole thing correctly right from the start.
Mistake No.1: Not getting a Realtor who knows VA loans
If you’re getting…
Friday, September 23rd, 2016 at 7:14pm. 340 Views, 0 Comments.
It's a good time to buy and sell!
The steady increase in sales prices for existing homes sold in Volusia and Flagler counties in recent months prompted more people to put their properties on the market in August.
New property listings last month rose 12.2 percent in Volusia and 10.3 percent in Flagler, compared with August of last year, according to Realtor reports released Thursday.
Here's a look at the latest numbers in Volusia County:
HOMES SOLD, MEDIAN SALES PRICE: UP AND UP
August 2016: Homes Sold: 885; Median Sales Price: $172,900
August 2015: Homes Sold: 801; Median Sales Price: $143,000
NUMBER OF NEW LISTINGS
August 2016: 1,047
August 2015: 973
HOW QUICK THEY'RE SELLING
Median number of days it took for homes…
Saturday, September 17th, 2016 at 1:29pm. 267 Views, 0 Comments.
Article by Rebecca Gordon
Decorating your child’s room is perhaps the most fun you can have with an interior design project. But how do you achieve the right balance between soothing safe haven and stimulating educational space? We think that artwork is the perfect way to transform a dull and lifeless room into a colorful sanctuary that’s perfect for making memories. Read on for creative tips on how to hang art in a way that’s sure to inspire your little ones day after day.
1. Get Creative with Crocodile Clips
In a nursery you can take a more playful approach to hanging your chosen artworks. Crocodile clip wall allow you to change up the art you display as your child’s tastes change and grow. Why not mix in some of their own drawings…
Monday, August 22nd, 2016 at 4:53pm. 214 Views, 0 Comments.
Written by Lorraine Woellert on August 18, 2016
Mortgage rates dipped this week, averaging 3.43 percent for a 30-year, fixed-rate loan, down from 3.45 percent. At this time last year, rates averaged 3.93 percent, according to Freddie Mac.
Source: Freddie Mac
Rates have held below 4 percent for 33 weeks, the second-longest run of cheap borrowing the U.S. has ever had. The record was set from March 2012 to June 2013, when the cost of a 30-year loan held below 4 percent for 65 weeks.
That’s great news — for people who can get a loan. The reality is that many borrowers can’t qualify for a home loan at all, much less get approved at rock-bottom rates, which are reserved for buyers with pristine credit and big downpayments.
Saturday, July 23rd, 2016 at 12:47pm. 228 Views, 0 Comments.
Written by Lorraine Woellert on July 21, 2016
Mortgage rates rose for the second week, averaging 3.45 percent for a 30-year, fixed-rate loan, up from 3.42 percent the week before. A year ago, rates averaged 4.04 percent, according to Freddie Mac’s weekly survey.
Despite the uptick, rates have held below 4 percent since December, tying a 29-week run of cheap borrowing we had from November 2014 to June 2015.
During that sprint, the cost of a 30-year loan averaged 3.77 percent. This time, it’s held to 3.64 percent.
Source: Freddie Mac
What’s going on?
Mortgages got dramatically cheaper after Britain voted to exit the European Union last month. The Brexit brouhaha has since calmed down and Treasury bonds, which signal the…
Saturday, July 16th, 2016 at 8:46am. 312 Views, 0 Comments.
Article By Virginia C. McGuire
When you’re shopping for a mortgage, your credit score is a really big deal; it can make or break your mortgage approval and ultimately determine whether you get that home for sale in Boca Raton, FL. But before you analyze your credit score, it’s important to look at how your existing debt affects that score.
Debt comes in two types: secured and unsecured. When you borrow money to buy a house, the bank can take back the house to recoup its money if you don’t pay the debt. That means the debt is secured — it’s balanced against something you want to keep and gives the bank some measure of security that it can recover the money it lent you. Unsecured debt, on the other hand, means the bank can’t reclaim what…
Saturday, June 18th, 2016 at 3:23am. 339 Views, 0 Comments.
Article by Angela Colley
The good news: You’re almost home free (or free of your home in this case). You’ve accepted the buyer’s offer, the negotiations are finally winding down, and there is only one more little box to check: closing.
OK, so maybe it isn’t a little thing. And maybe you’re a little worried something is still going to go wrong, but that’s why we’re here! In this eighth installment of our weekly Home-Selling Guide we will show you how to get through closing without a hitch—or barely a hitch (hey, stuff happens).
Get the repairs done
First things first: You’ve got to get those repairs done. We get it—the last thing you want to do now is work on a house you are about to sell. But if you agreed to make…