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Lenders must accept private flood insurance policies after July 1   WASHINGTON – June 18, 2019 – The threat to home closings during a National Flood Insurance Program (NFIP) shutdown may be muted or nonexistent should Congress fail to extend the program in the future. After July 1, a federal law forces mortgage lenders to accept private coverage if it satisfies criteria outlined in the Biggert-Waters Flood Insurance Reform Act of 2012. In February, five federal regulatory agencies – the FDIC, Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, National Credit Union Administration and Farm Credit Administration – issued a joint final rule to implement provisions of the Act, which outlines the new private flood insurance mandate and the steps insurance companies and mortgage lenders must follow. The rule, which takes effect July 1, 2019: Implements the Biggert-Waters Act requirement that regulated lending institutions accept private ...

Florida's housing market reported more sales, higher median prices and increased inventory (active listings) in April compared to a year ago, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 26,992 last month, up 6.2% over April 2018. Still-low mortgage interest rates and a strong jobs outlook are positive trends for Florida's housing market. Another strong sign: New pending sales for existing single-family homes in April rose 4.4% year-over-year, while pending sales for existing condo-townhouse properties remained at about the same level (-0.8%) as April 2018. In April, statewide median sales prices for both single-family homes and condo-townhouse properties rose year-over-year for the 88th consecutive month. The statewide median sales price for single-family existing homes was $259,470, up 2.6% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realto...

Another great week in Real Estate. Homes are selling at a phenomenal pace. If priced right they are selling within days of being listed. The key is in the pricing. It is imperative that the price is where it needs to be. That's why you need to use a highly experienced Realtor to list your property. Someone that knows the market and how to present your property at the best possible price. The first few days are critical to getting the home sold. If you price it to high you alienate the motivated buyers who are seriously looking to buy quickly and efficiently. You price it to low and you may lose a few thousand $$$'s that you could have received. Todays buyers are well advised and most are also working with someone that makes sure they are getting a good buy. The point is work with a professional experienced Realtor when pricing and selling your home. Here at ADVANTAGE REALTY FLORIDA  we are all experienced with many years selling homes i...

If you're a successful Realtor you have a very busy schedule. Most people don't understand the behind the scenes work that we do. When you work with a buyer you spend many hours screening available homes that fit their criteria. While there are many homes available you need to screen them so that you are showing them properties that "fit". Each and every day prior to doing showings I spend at least half a day in the selection process. I try to show no more than 6 properties in a days time. This obviously can vary depending on their proximity to each other. You then need to schedule the showings by reaching out to the listing agents and  that can take a few hours depending on how tangible they are. Once you have organized the showing I recommend that you print out 2 copies of the flyers keeping 1 for you and another for the customer to write notes on the back.  Case in point you normally will have a complete day in this process. Knowing the customer and bein...

I am truly amazed at how many times I've heard stories from other Realtor's about how disloyal their customer's are. Unfortunately they might be part of their own problem??    Please keep in mind that for most of your customers this is most likely a one time deal for them. They really have no clue how the system works and you can save a lot of grief by spending a little time in "educating" them across the board. Here are some talking points that I make sure and cover: If you are working with a buyer that you are working for them essentially for free and that you are compensated in most cases by the sellers. The sellers have a listing contract with their Realtor/Brokerage and the commission is already established within that agreement. So there is nothing to be gained by going around you directly to the listing agent. You need to establish a "relationship" with you're customer. This helps establish loyalty. Through working with them merely share...

Probably the most misunderstood concept about applying for a Mortgage is that by applying to multiple Institutions negatively affects your credit score. That is totally a misnomer. Shopping around is necessary to achieve the best possible rates for what most likely will be the biggest purchase of your lives and applying to multiple lenders is beneficial. One of my favorite "Go To" sites is BankRate.com. I find their information and articles to be very helpful in today's Real Estate market. Below is an article I copied from today's page view from BankRate.com: How do I get the best mortgage rate? To get the best mortgage rate , shop around with multiple lenders. Ideally, you want a rate that’s at least equal to, or better yet below, the current average rate for the loan product you’re interested in. Comparing rates from three, four or more lenders helps ensure you’re getting competitive offers on a new mortgage or a refinance. Inquire with large banks, credit un...

Spring Breaks are for the most part over and the Beach traffic is tolerable. Things are returning to normal. I currently have 3 Associates living and working on the beach (the "Beach Crew") They are the go to group for any of your Real Estate needs on St. Pete Beach & Pinellas County. While the "Beach Crew" is working the beach I myself am back in Lakeland (Polk County)rebuilding our market there. I am working with clients while I hire a new Broker Associate and a handful of Sales Associates to handle the booming Real Estate business in the area.      Schools will be out for the Summer before you know it and people will be moving during the Summer Moving Season. If you are looking to sell now is the time to get your home listed. We offer greatly discounted listing rates saving you in some cases thousands of $$$'s. Discounted rates without sacrificing service.   If your a buyer you need to start looking now so that you can get in be...