RUN!! If Your Agent Calculates Price Per Square Foot

Tags

Buying a home, calculating home price, homes for sale in Jacksonville FL, Jacksonville FL Real Estate, price per sq ft, price per square foot, real estate, Selling a home

Price per square foot is a concept in real estate which is easy to understand and just as easy to misuse. The formula is pretty simple: To determine price per square foot, you take a price, such as sale price of a home, and divide it by the square footage of the property.

Price per square foot is useful in looking at broad market comparisons, such as comparing one entire metro area to another, or looking at an area’s average change over time. It is not, however, terribly accurate in figuring out the value of your home.

Why? Well, price per square foot fails to take into account the most important factors when pricing a home.

First and foremost, it makes assumptions about the home’s amenities. We all know the quality of materials used in home construction and the condition of the home’s appliances and other features can have a dramatic impact on the value of a home. A kitchen with Italian marble surfaces versus one with pressboard countertops will have completely different values. Price per square foot in a given neighborhood will blend these homes together and produce an average.

Second, price per square foot assumes locations are identical, but in almost any metro area there are up-and-coming neighborhoods as well as neighborhoods in decline. Price per square foot near an abandoned industrial zone will vary considerably from one near a well-established downtown district with a great walkability score.

Third, even the simple methodology of calculating price per square foot can be influenced by how the total number of square feet has been calculated. If one has a garage converted into a mother-in-law, and another home doesn’t, which square footage is valid? And what about home or lot size? Sometimes above or below-grade lots can influence the price per square foot as well.

Price per square foot is more useful in commercial situations where there is tremendous uniformity in the design, construction, and location, but as a tool for assessing your home’s market value, it’s flat out dangerous.

Want a real estimation of your home’s value in its current condition and location? We’d be happy to help. Get in touch today, and We’ll show you what goes into determining the optimal price for your home. Kevin and Jennifer Hanley, REALTORS Keller Williams Realty Atlantic Partners Southside http://www.HanleyHomeTeam.com 904-422-7626

Advertisement

STOP Renting!

Have you always wanted to own your own home?

You might be surprised to find out that buying a home could be far more affordable than the rent you’re currently paying. Wouldn’t you like more privacy? Wouldn’t you like the security of home ownership? Wouldn’t you rather get the tax deduction your landlord currently receives? Wouldn’t you like to know the money you pay each month goes into building value in an asset you own?

Perhaps the time has come to buy. Much has changed with mortgage rates and requirements, and now could be a great time to find out you no longer have to rent your home. I would love to help you bid farewell to your landlord for good!

Call us today f you’re curious. We are more than happy to get you on the path to home ownership.  Kevin and Jennifer Hanley, REALTORS Keller Williams Realty Atlantic Partners Southside 904-422-7626 http://www.HanleyHomeTeam.com

Florida Legislature passes comprehensive water bill

TALLAHASSEE, Fla. – Jan. 15, 2016 – The Florida House overwhelmingly approved a statewide water-policy bill strongly backed by Florida Realtors heading into the 2016 legislative session. A day earlier, the Florida Senate unanimously supported the bill.

The bill (SB 552) was sent to Gov. Rick Scott for his signature, which is expected, and he has until Jan. 21, 2016, to sign it. Lawmakers have worked to advance the bill for more than two years.
“Passage of SB 552 provides a strong foundation for a comprehensive statewide policy that addresses key aspects of water management, water quality and water supply,” says Carrie O’Rourke, Florida Realtors vice president of public policy.
“Florida’s Realtors are passionate about the state’s water resources,” O’Rourke adds. “No matter where you live in Florida, there’s a body of water that is a part of your community. We thank members of the House and Senate for passing this great bill.”
Florida Realtors 2016 Talking Points outlined the soon-to-be law’s benefits:
It creates the Florida Springs and Aquifer Protection Act. The objective is to put programs in place that protect and restore water flow and water quality in the Florida aquifer, a massive body of fresh water than flows through porous rocks below the surface. The programs will also improve conditions at “outstanding Florida Springs.”

The Department of Environmental Protection (DEP), in cooperation with water management districts and other regional water supply authorities, will operate by a set of statewide standards for collecting and analyzing water supplies and water quality. Operating by one set of standards will ensure reliable data.

It establishes water flow levels for the state’s natural springs, and DEP will oversee pollution control measures for Lake Okeechobee, the Caloosahatchee Estuary and the St. Lucie River and Estuary.

Once signed by the governor, the new law becomes effective July 1, 2016. In addition to new rules, it will also create a starting point for future water protection measures.
© 2016 Florida Realtors®

Pest Control Tips for Winter

Tags

homes for sale in Jacksonville FL, Jacksonville FL Real Estate, pest control, real estate, winter pest control tips

When the temperatures begin to dip, humans aren’t the only ones who appreciate the warmth and shelter of a cozy home. Insects, rodents, and other small mammals are also drawn to the comforts your house provides. Ever have a mouse die in a wall? It’s not the sort of smell that one appreciates during the holidays. No one wants an expensive electrical repair when a rat chews its way through wiring in the attic or basement, either. Do yourself a favor and protect yourself from pests this Fall and Winter. Here are some tips:

1. Inspect the outside of your home for ways animals may sneak in. Often utility vents and areas under eaves have gaps which should be sealed or screened.

2. Look for gaps around door and window frames, and caulk or repair those gaps. Tiny entry ways can lead to big problems.

3. Examine trees around your home. Are any branches close to or touching the roof? These branches can be pathways for rodents to access your roof and any access ways the roof may provide to your attic, walls, or crawlspaces.

4. Make sure your garbage and recycling bins have tight fitting or locking lids. Hungry animals will find those scraps, trimmings, and drips, and they can more or less provide an invitation to come close to the house. It’s not a bad idea to buy containers with latches or locks that won’t interfere with garbage pickup, but will deter most animals. (Raccoons are particularly clever, though!)

5. If you have a wood pile for a fireplace or other stove, keep it at a distance from your home. If you’ve been keeping it close to the house because of the cover a roof provides, consider relocating the wood and using a tarp to keep it dry.

6. Inside your home, try not to store food on countertops as it will attract flies and rodents. Airtight containers inside of cabinets an drawers is a better bet.

7. Never leave dirty dishes in the sink overnight if you can help it. Just like food on the counter, it’s an invitation for bugs.

8. Wash your floors with a water and a cleaner. Food residue from spills will attract ants.

With a little prevention, you can keep your home pest free this season. Even with the best protection, pest control can become a necessity, though. If you need a referral for a trusted pest control company, feel free to get in touch with us: Kevin and Jennifer Hanley, REALTORS 904-422-7626 Keller Williams Realty Atlantic Partners Southside http://www.HanleyHomeTeam.com

Down Payment Savings Tips

Tags

Buying a home, downpayment, Downpayment Assistance, Downpayment to buy a home, homes for sale in Jacksonville FL, interest rates rising, Jacksonville FL Real Estate, low interest rates, real estate, Renting vs Buying

Every month you pay the rent, you’re probably thinking, “I wish this money was going into my future.” For a lot of would-be first-time home buyers, it’s the down payment which makes home ownership seem impossible. Climbing the “down payment mountain” isn’t impossible. Like any major challenge, it’s all a matter of breaking your big, hairy, audacious goal down into practical steps.

Here are some tips to conquer saving for a down payment:

Find out where your money goes. You can’t start saving if you don’t know where you’re spending. For a month or two, track each expenditure, no matter how small. Get an objective picture of where you’re spending the cash.

Get specific about how much you need to save. Even if you’re not 100% sure what your down payment needs to be yet, it’s good to start doing a little math to figure out how much you need to save. Pick a dollar amount and a timeline to hit that dollar amount. For example, a $25,000 down payment in two years comes to $1,041/month. Sound unrealistic? Either scale down your home desires to something smaller or scale up your timeline. If you can wait three years, that monthly savings goal drops to $694/month.

Determine the big moves you can make. If you’re in a three bedroom apartment and can stomach the idea of scaling down to a one bedroom, how much would you save in rent? What about going from two cars down to one? If you can make it work, these sacrifices will have a huge impact on your savings goals.

Setup a separate savings account. Don’t let your dream home money mingle with your regular checking or savings account. Establish a high-yield savings account with a credit union or money market account to protect and build your stash. It’s important to have a separate account with a “hands off” attitude.

Mind the risky investment schemes. Once you have a little momentum, you might be tempted to take some of that cash and invest it in order to make it grow faster. Be very prudent about this, as investing in stocks, startups, or high-yield funds can easily decimate your savings. Be conservative.

Of course, it’s important to know how much home you want to buy when you’re saving up for your down payment. We’re happy to give you an idea what homes are selling for in your area. Feel free to get in touch any time if you have questions: Kevin and Jennifer Hanley, REALTORS Keller Williams Realty Atlantic Partners Southside http://www.HanleyHomeTeam.com 904-422-7626