Is It Time to Move On from Your West Palm Beach Empty Nest ? The kids are gone. Your big house seems either dreadfully empty or just plain wasteful. Congrats: you are officially in possession of a Palm Beach County empty nest! Now it’s time to consider where and how you want to live next. When Do You Sell? It's not a bad time to be selling in West Palm Beach — but since you will be buying, too, you would have to deduce that it might not be the perfect time to be on that side of the table. When you are swapping your full-sized family home for a snug nest for two, you want to get full value for your old home without paying too much for the new one. If you can swing it, you may want to buy before you sell. That puts you in control of the time factor, providing freedom to hold out for a pr... 01/03/2014

Follow Me On:     January 2014 Tapering Signals Year-End Economic Strength Indicators Point to Greater Recovery for 2014 The big "will-they or won't they" ended last month with the Fed's mid-December announcement that it would begin tapering its economic stimulus efforts. Federal Reserve Chairman Ben Bernanke's decision to scale back on Bond and Treasury purchases by $10 billion signaled that the economy has showed sufficient ability to play on its own, albeit, on a kid leash. Keep Reading »     Paper Airplane A Lesson for Flying Outside the Box Whether in sports, education, business, or an entire country, sustainable success requires vision and an unwavering commitment to the future. Keep Reading »     Trade In Your Old Smart Phone A lightly used device is worth a bundle. By Lisa Gers... 01/03/2014

Buying a home in West Palm Beach is hardly a do-it-yourself kind of project. Having confidence that the all the i’s are dotted and the t’s crossed requires the input of professionals whose daily dealings keeps them in touch with the current legal and financial arenas. Call them the “Fundamental Four” — the four groups of professionals you will want to have on your team when buying a home in West Palm Beach this winter. First and foremost, you need to be sure the money factor is handled in an advantageous way. By far the most popular route is via a mortgage: a home loan. Your specialist here is the professional mortgage broker. He or she will advise you on the types of mortgages available this winter; will work with you to determine the amount you qualify for, the different payment plan... 01/02/2014

A Palm Beach County short sale is a transaction in which the amount paid is not sufficient to cover the existing mortgage or property liens. Once the lender agrees to accept the lesser amount, the short sale succeeds, the lender calls it even with the seller, and all parties can move forward. It’s a good thing to ‘unfreeze’ a property, yet short sales in West Palm Beach can be tricky to close. In the worst-case scenario, a buyer and would-be short seller can be put on ice for a full year or more before the short sale succeeds. As is evident to anyone who has been through the process, a Palm Beach County real estate agent with short sale experience is essential for leading the way through the negotiations and closing. In addition to working with a knowledgeable agent, it’s good to also ... 01/02/2014

  November 2013 single family housing statistics reveals a pleasant surprise for the Palm Beach County housing market today. Although November historically lags in closed sales, cash sales, new pending sales, and median sales price compared to earlier months, November 2013 showed the greatest overall improvement compared to any month of November going back five years. This year’s numbers showed most closed sales, highest median sale prices, and greatest number of new listings for November.  The biggest benefit in this monthly marketing report for our readers is to provide content rich local information from a trustworthy source The Realtors® Association of the Palm Beaches. . Understanding that an educated buyer and seller when provided with the latest facts in our marketplace creates t... 12/26/2013

According to the National Association of Realtors®, nearly 40% of home buyers will be first-timers this year. In other words, if you are new to the housing market you are certainly not alone. Since first-time home buyers in West Palm Beach experience the same learning curve as anyone everywhere, reviewing some of the more common missteps can spare them some of the angst those common mistakes cause. Some examples: 1) They Don’t Check Their Credit Score New home buyers focus on the seller’s asking price, but don’t realize how greatly their credit score will affect how much they actually pay. They know their score is important to qualify for a home loan, but not how a low credit score can result in a higher down payment and interest rate. A single percentage point of higher interest over ... 12/23/2013

As you begin any search for a new home in West Palm Beach, it’s worthwhile to take a step back — to take a momentary time-out to consider widening the range of possibilities. For many families, the kind of home they are looking for is a foregone conclusion. Either they want a customized house in a new development, or a new home that they will build themselves, or they may be pointed toward an existing house in an established neighborhood. It’s a worthwhile exercise to look at the assumptions behind those fundamental housing preferences. After all, this is a very basic choice that will greatly affect every family member’s quality of life for a very long time. As you would expect, most of the time such evaluations result in confirming the original direction: people who prefer a sparkling... 12/19/2013

The photos that make up your Palm Beach County listing will be key to your home’s marketing effort. If that first impression is positive (or even if it only raises curiosity), those images will have helped you past the all-important first hurdle. What makes a Palm Beach County listing a visual triumph? I’m afraid that belongs in realm of art, so to a certain extent remains unclassifiable. But some factors that inevitably prevent a good listing shot are a lot easier to describe. Chief culprits: We’ve all seen listing photos where you can barely to make out what you’re supposed to be looking at — dim shots that make a house look grey and dirty. Since everyone is drawn to a home that’s brightly lit and inviting, when in doubt, turn on more lights! Bright photo highlights make a home look ... 12/19/2013

Although the housing market continues to improve, it’s not quite time for the next wave of Palm Beach County home sellers to reserve the moving vans. Especially for home sellers who are on the verge of listing their property, it is time to pay attention to the smaller details that would seem inconsequential, but which can nonetheless determine a prospective buyer’s level of enthusiasm (hence, the size of their offer!). One of the humblest details that can go unattended is grout. Honestly. A flawlessly tiled shower or kitchen splashboard can go unnoticed if the grout looks as if has gone bad. The do-it-yourself fixes are relatively easy to handle, so before that first open house is imminent, here is the way DIY experts tell us we can eliminate the issue entirely: Use a hammer and chisel... 12/18/2013

Even though national foreclosure rates have continued to drop, the threat of becoming another Palm Beach County foreclosure statistic is still very real for some homeowners. It’s at least somewhat reassuring to understand that most banks don’t really want a foreclosure — so for homeowners who take an early proactive approach with their lender, losing their home does not have to be inevitable. Mortgage Restructuring For anyone who has fallen behind on payments, Job One is to discuss the situation with your banker. If a mortgage restructuring is possible, you may have an opportunity to refinance at a lower rate with more manageable payment amounts. In some cases, it may be possible to alter other terms of your agreement — for example, you might arrange to postpone any delinquent payments... 12/18/2013

Deciding to buy a vacation home in West Palm Beach can be one of the smartest investments there is. Or it can turn into an irksome drain on time and pocketbook. As much as with any real estate transaction, buying a vacation home that fulfills its upside potential takes thoughtful weighing of all the advantages and drawbacks a second home entails. There’s nothing better than having your own place to escape to when it’s time to get away… and if the same sanctuary can be rented out now and again, that extra income only adds appeal. Especially when you find a place that strikes an emotional cord, it can be hard to resist the impulse to just make an offer and work out the kinks later. All the same, it pays to keep an eye on some of the issues that don’t leap to mind when you think “vacation... 12/18/2013

Selling Your Home Is a Matter That Rates Consideration It’s the kind of “problem” many would like to have: a buyer has just made an offer on your home — and you hadn’t even listed it for sale! Turns out, it’s not all that uncommon for “house-stalkers” (or their determined agents) to slip notes into owner’s mailboxes or just knock on the door and ask to buy the house. It’s a house-hunting strategy that has worked for all kinds of buyers who are unimpressed by the homes they find on the market. For anyone up in the air about selling your home in West Palm Bach, here are some questions that can lead to a rational decision: Were you planning to sell in the future? If so, how far into the future? 20 years? If that’s the case, unless it’s an astounding offer, better stay put. But if you were... 12/18/2013

This summer, the National Association of Realtors® reported the largest number of existing home sales since February 2007— and I expect we will see similar results when this winter’s final numbers come in. With more individuals looking to enter (or re-enter) the real estate market, buying a house in West Palm Beach can be expected to continue to be newly competitive. That does not mean that you should adopt a defensive mindset. Even after finding what looks like a great deal on a seemingly terrific home, it’s wise to keep an eye out for unexpected developments that could make it necessary to walk away from the deal. Some of the situations that usually don’t (but still can) trigger that option: If the Palm Beach County home inspection uncovers issues that you didn’t know existed, you ha... 12/16/2013

Effective Retirement Planning for Baby Boomers... WSJ Says: "Reverse mortgages aren't just for people struggling to keep their homes anymore." It seems the word is out: reverse mortgages aren't just for the financially desperate. In fact, they can be a valuable source of retirement planning when used correctly. In an article, "Reverse Mortgages Can Help Rich and Poor Retirees," published in the Wall Street Journal, detailing the benefits of a reverse mortgage as a financial planning tool and not as a last resort for "cash poor, equity rich" retirees. In fact, the reverse mortgage can be a saving grace for many retiring baby boomers, potentially saving them from having to sell off investments at the wrong time. One of the pitfalls of lack of retirement planning is the potential to use up... 12/13/2013

Virtual tours in West Palm Beach can be potent selling tools over the holiday season. To make the best use of those tools, it’s important to prepare your home with the special requirements of the medium in mind. How doing so differs from prepping for in-the-flesh showings is a subtle but real distinction. Some photographers use a couple of tricks: Close One Eye Virtual tours are assemblages of still or video shots —raw material that is all filtered through the single lens of a camera. When anyone walks through a home, they do so with both eyes open. They experience a three-dimensional impression of their surroundings. What the “camera sees” is different — it’s why some people and places are said to be more “photogenic” than others. It’s also why you sometimes see a film director examin... 12/12/2013

  Ibis Golf & Country Club Homes for Sale | Ibis Country Club Homes   Search Ibis Golf & Country Club - Palm Beach Homes for Sale Type:All Types Single Family Condo/Townhouse/Co-Op Rental Properties Price: to Beds:Any 1+ 2+ 3+ 4+ 5+ Baths:Any 1+ 1.5+ 1.75+ 2+ 3+ 4+ 5+       6102 Wildcat RunWest Palm Beach, FL 33412 $699,000 4 beds/4.1 baths Listing courtesy of Illustrated Properties/Fairway 8929 Marlamoor LaneWest Palm Beach, FL 33412 $549,900 4 beds/4 baths Listing courtesy of Lang Realty/PBG 11700 Blackwoods LaneWest Palm Beach, FL 33412 $1,395,000 6 beds/5 baths Listing courtesy of Illustrated Properties/Corporate 8296 Bob O Link DriveWest Palm Beach, FL 33412 $395,000 3 beds/4.1 baths Listing courtesy of Illustrated Properties/Corporate   8166 Quail Meadow WayWest Palm Beach, FL 33... 12/11/2013

Palm Beach County Seller Financing Can Be a Powerful Inducement November’s Mortgage Credit Availability Index shows a slight relaxation in lending standards — but as most Palm Beach County home buyers and sellers will agree, getting a mortgage is still difficult. With mortgage availability benchmarked at 100, although it’s currently at  111 ½, compared with the 800 it stood at in 2007, today’s is still a tough environment. That’s why Palm Beach County seller financing is being considered by more homeowners. When a home is owned outright, seller financing can draw a higher selling price (with future interest payments as a bonus). But before making such an offer, Palm Beach County homeowners need to consider all of the ramifications: there is more involved than just the assumption of add... 12/11/2013

This could be any new Palm Beach County homeowner’s worst nightmare: shortly after closing on their new house, a family in Canada discovers over $100,000 in hidden damages — the kind of damages that have to be fixed before the house can be deemed safe for occupancy. The cause? HGTV’s Mike Holmes made the discovery after doing a proper inspection on the property: the dream home they’d just bought had previously been used as an indoor marijuana-growing operation! Believe it or not, it’s an increasingly familiar scenario. Last year alone, our own U.S. DEA busted more than 2500 “grow-ops.” The damage such operations wreak on homes can be staggering. Increased humidity leads to warped wood, crumbling walls, and health-endangering black mold outbreaks. Holes are punched in walls and floors t... 12/10/2013

Send to a Friend Follow Me On: MMG Weekly: Good News Revives Taper Talk   In This Issue         Last Week in Review: Key housing and jobs data was released. Plus a surprising read on Gross Domestic Product, the broadest measure of economic activity. Forecast for the Week: This week's economic calendar is light, featuring readings on retail sales, jobless claims and wholesale inflation. View: See the important time tip that can make all the difference any time of year.     Last Week in Review         "Tomorrow is often the busiest day of the week." Spanish Proverb. And it sure seemed that way with last week's busy economic calendar, as Friday's Jobs Report capped off a week filled with data. Here are the highlights. The highly anticipated November Jobs Report revealed that employers cre... 12/10/2013

Mortgagee Letter 13-43 announces the loan limits for 2014 and is effective for case numbers assigned on or after January 1st, 2014. >Here's what you need to know about these changes: 1. The national floor limit of 271,050 remains unchanged. 2. The national ceiling limit is reduced from 729,750 to 625,500. 3. The limits for FHA streamline refinances without appraisals remain unchanged. 4. Areas at the ceiling and above: Attachment 1 5. Areas between the floor and ceiling: Attachment 2 Click here to read this update in full. TheFHAOriginator.com. Go FHA! Jeff Mifsud         Questions, Comments or For more information you can email Christian Penner at TheMortgageTeam@ChristianPenner.com or visit us online at www.ChristianPenner.com or you can call us directly at: 561-316-6800 ChristianPen... 12/10/2013