You’ve found a place in the sun, but you can’t use it all the time. If you were going to rent it out — perhaps to offset maintenance and mortgage costs — what would be the best thing you could do for the place? “Add a hot tub,” said Bill May, whose Sunspots Inns, Resorts & Rentals owns and maintains more than 100 resort and rental properties in Hawaii and the mainland. “It’s a four-season amenity and something people really like to have available even though they might not use it. It would probably pay for itself three times over in less than a year.”

The hot-tub addition has been a favorite since the couple bought a ski condominium a few years ago. May rented out his condo, which has a hot tub, and he was asked to rent an identical condo owned by his neighbor. The neighbor’s unit had the same floor plan, exposure and appointments — except for the hot tub.

“The figures showed the unit with the hot tub earned $14,000 more a year in rent than the condo without the hot tub,” May said. “When I showed the figures to the neighbor, he had a hot tub installed for about $4,000, and he then made close to $14,000 in additional rental income because of it.”

The Mays said hot-tub maintenance horror stories are overestimated and that high-quality tubs with basic features (”heat on, heat off — jets on, jets off”) work best. A maintenance contract from a reliable supplier ensures proper attention for both renters and owners.

Looking for that perfect Sarasota home for sale or condo? Realtor® Annette Smith is ready to help you buy or sell your dream property.
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For the second consecutive year, Flagler County, Fla., registered the strongest growth of any county in the nation, according to the latest Census Bureau estimates. Located between St. Augustine and Daytona Beach on the Atlantic Ocean, Flagler’s housing stock increased by 14.8 percent, or more than 5,000 units between July 1, 2004 and July 1, 2005. During the prior 12-month period, Flagler gained more than 4,000 units, for a two-year total of almost 10,000.

Sumter in Central Florida was the country’s second fastest growing county, with an increase of 4,071 units, or 12.8 percent. Osceola near Orlando was fourth with a 9.5 percent increase, or 8,835 units, and St. Lucie on the Atlantic between West Palm Beach and Fort Pierce was ninth, adding 8,890 units, an 8.2 percent gain. The remainder of the ten fastest growing counties were spread throughout the country.

In the market for Delray Beach real estate? Consult with licensed agent Caesar Parisi. Caesar has assisted hundreds of buyers and sellers, giving sound advice on how to most effectively buy and sell property.
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Buyers may find now would be the best time to find a bargain on a new house. The inventory of unsold homes in the state has hit a record high. They’re the tell-tale signs of what economists are predicting, a housing market that’s slumping more and more. “What we’re seeing right now is a little bit of an evener playing field from buyers and sellers,” said Penny Hermann of the Florida Association of Realtors. Hermann also said the national trend of slow real estate sales is echoed in Florida. The association said that sales of existing homes nationwide dropped in July to their lowest levels since 2004.

Economists said steep prices for gas and heating oil is squeezing budgets. Plus rising interest rates are keeping some buyers away. “I think if you look over the past many years you’ll see a market that has its ups and downs just like any sellers make and a buyers market,” added Hermann. But there is hope for Central Florida, with its growing population Hermann predicts there will always be high demand for these homes.

To find the perfect home, Palm Beach realtor Annette Smith is available to help you be an informed home buyer or home seller in today’s changing Sarasota real estate market.
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Most home buyers need a mortgage to buy a home. Before a mortgage is approved, the lender or mortgage broker usually hires an appraiser to verify the market value of the property. Ideally, the appraised value matches the price the buyer has agreed to pay.

When a property appraises for less than the purchase price, the transaction can be in jeopardy. However, a low appraisal won’t necessarily stand in the way of the lender granting the loan if the borrowers are making a large cash down payment. For example, let’s say you agree to pay $1 million for a property, and you have $300,000 for a down payment. The appraiser puts a $950,000 value on the property, which is less than you’ve agreed to pay. You’re a well-qualified buyer, so the lender is willing to give you a loan for 80 percent of the appraised value, or $760,000. With a $300,000 cash down payment, you only need a $700,000 mortgage. So, the sale can proceed unless you have a problem buying a property that appraised for less than you agreed to pay.

Ready to buy or sell Palm Beach real estate? Consult with licensed agent Caesar Parisi. Caesar has assisted hundreds of buyers and sellers, giving sound advice on how to most effectively buy and sell property.
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Criminals have discovered how easy it is to get real estate in Florida with no money down: just forge a signature on a deed and file it.

In Florida, with no mechanism in place to ensure the authenticity of deeds filed at county offices, criminals have discovered that stealing a house can be easier than burglarizing one. With little more than a forged signature and a stolen notary’s seal, thieves have scooped up homes and vacant lots, taking out a mortgage or selling the property to unsuspecting buyers before the original owners know what hit them. Law enforcement officials say deed forgery is particularly rampant in South Florida, and especially in Miami-Dade County, where absentee ownership by investors and seasonal residents has left thousands of units vacant. Soaring real estate values have only increased the allure of vulnerable properties.

For more information on this and other real estate matters, your first source for Palm Beach real estate should be licensed agent and long-time resident Caesar Parisi. (more…)

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Zillow just introduced a series of planned quarterly reports on home values in five areas: Seattle, San Francisco, Los Angeles, Phoenix and South Florida. Zillow spokeswoman Amy Bohutinsky said the company is sitting on “a mountain of data about millions of homes” and wanted to present some of the interesting trends that emerge from slicing and dicing the data.

“We take the patterns we see in current sales and apply them to all homes, regardless of whether they sold or not,” Bohutinsky said, adding that Zillow’s system rules out inconsistencies that may occur if an inordinate number of high-end or low-end homes sold during a set period.

For more information on this and other real estate matters, your first source for Palm Beach real estate should be licensed agent and long-time resident Caesar Parisi. (more…)

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