Getting Home Insurance Right

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homeowners insurance, insurance, insurance coverage, real estate, real estate advice, real estate consultant, Real Estate in Jacksonville FL, real estate information, real estate jacksonville fl, Real Estate Team, real estate tips, responsible homeowner, The best real estate agent in Jacksonville

HOMEOWNERS INSURANCE FEELS LIKE A “NECESSARY EVIL.” BUT IT DOES SERVE A SAINTTLY PURPOSE—TO PROTECT YOU. SINCE YOU HAVE TO PAY IT EVERY MONTH, THE TRICK IS TO PAY AS LITTLE AS POSSIBLE FOR AS MUCH COVERAGE AS POSSIBLE. HERE’S WHAT TO LOOK FOR.

If you own a home free and clear, you are not required to have homeowners insurance (also called hazard insurance). But if you have a mortgage on the property, your lender will require you to carry it. Here’s how to get quotes to compare prices and coverage.

What is a homeowners insurance quote?

A quote is an estimate of the price you’ll pay for a policy. It’ll be given to you either as a yearly, 6-month, or monthly amount. Make sure you’re comparing apples to apples when looking at different quotes. 

A quote will be based on the size of home, location and likely replacement value of the home, condition you want to replace it to, how far it is from a fire house, etc. 

Each company uses its own formula to calculate house insurance quotes, so prices can vary widely. You boost your chances of finding the best rate when you compare homeowners insurance rates from several companies. Get at least three quotes! The rate and amount of coverage can vary by hundreds of dollars.

A quote is only an estimate at the time it’s given. The actual amount you’ll end up paying will not be determined until the policy is issued. It’s usually close to the quoted amount, though.

Who gives homeowners insurance? 

Many companies, including the companies that you might already be insuring your car with. Examples include USAA, Farmer’s, State Farm, Travelers, Wawanesa, Desjardins, Allstate, and many others. 

What do you get from having homeowners insurance? 

Protection in case of damage or loss. These amounts can vary! These are broad averages only. If you get three different quotes, you’ll begin to see what kind of coverages are available for your property and can compare. For instance, if two quotes are similar, but one offers $8,000 of additional living expenses in case of a claim, and the other offers only $6,000, then the first might be a better policy for you (if all other factors equal).

How your price can change…

In addition to the standard coverages shown above, you’ll also need to make choices when you compare home insurance quotes. These choices will affect your price, so make sure you use the same choices when comparing different policy quotes. 

Your deductible. This is the amount you pay out of pocket, before the insurer will pay anything per claim. It’s typically $500 to $2,000 per instance. Choosing a higher deductible will lower your monthly premium payment. If you choose a higher deductible, make sure you can afford to pay that deductible.

Earthquake, flood or windstorm coverage. Standard insurance doesn’t cover earthquake or flood damage, and windstorm coverage is limited in some hurricane-prone regions. If you live in an area affected by these risks, you may want to ask about optional coverage. Flood insurance is required for some properties in high-risk zones.

Replacement cost coverage for your belongings. Most standard homeowners insurance policies won’t pay to replace old items with new ones unless you choose this upgrade. You can ask for more coverage for your belongings (like computers, clothes, art pieces, dishes, etc.). 

Extended or guaranteed replacement cost coverage for your home. Standard policies won’t pay more than your dwelling coverage limit to fix your house. Extended replacement cost coverage will pay out more if repairs require it, up to a specified limit, and guaranteed replacement cost coverage will pay the full cost.

How to get a homeowners insurance quote

You can call a local insurance agent or broker who can give you a quote. It’s often nice to talk to someone who specializes in insurance in your area. 

You can also contact insurance companies online and fill out their online quote request form. 

I prefer talking to an agent, because many of the items in the online forms are not applicable, and you’ll end up having questions. The live agent can help you faster, and often make suggestions you won’t get online. However, it might be wise to get at least one online quote, once you know what you want to be comparing.

KNOW SOMEONE WITH QUESTIONS ABOUT BUYING A HOME? PUT THEM IN TOUCH WITH US FOR HELP. Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside http://www.HanleyHomeTeam.com

How to Buy a Home Sight Unseen

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Jacksonville FL Real Estate, Making an offer on a home, Out of town buyer, real estate, real estate advice, real estate consultant, Real Estate in Jacksonville FL, real estate information, real estate investments, Real Estate Team, Sight unseen home buying, The best real estate agent in Jacksonville

If you’re thinking about buying a house right now, you’re probably wondering how best to go about it. The truth is, you can still do in-person tours in some places, depending on the local regulations, but many people are buying homes right now without stepping foot inside until the deal is done.  

Sight unseen deals are nothing new, but up until recently they were used mostly for foreign buyers, investors, or long-distance home shoppers. These types of remote deals have become more mainstream in the wake of the COVID-19 pandemic, and there’s evidence to suggest they’re more than a passing trend. 

A survey from 2018 showed that about 20% of homebuyers had made an offer on a home without seeing it first. A more recent, COVID-19-influenced survey, found that 45% of homebuyers in the last year had made an offer without seeing the property in person. In April of this year, Realtor.com found that “24% of 1,300 consumers surveyed said they’d be willing to buy a home without first seeing it in person.” 

If you’re considering purchasing a home sight unseen, keep these tips in mind: 

Work with the right agent
If you’re buying a house without touring it first, you have to depend on your agent to be your eyes and ears. It’s crucial that you go with a local expert, especially if you aren’t super familiar with the area. 

Take advantage of technology
Online listings with 3D home tours are up by more than 600% since the pandemic hit. Listings that have this functionality are likely to rise to the top because they give you a better feel for the home. Remember, whether you’re looking at a carousel of images or a 3D tour, don’t forget to ask your agent to go a step further.  

“Once you know which homes you’re most interested in, have your agent book some showings and take you along on the tour using FaceTime,” said HomeLight. Being able to view the property with someone in real-time will allow you to ask questions while getting an understanding of the “flow” of the home. 

Then, ask for a floorplan
Today, you’re more likely to find home listings that include a floorplan image. If you don’t see one, make sure to ask. While video tours offer an understanding of how a home feels, a detailed floorplan helps you ensure it measures up to your needs. 

Knowing the full layout of a home will give you some insight on what day-to-day life will be like. For example, watching a video tour might not reveal the fact that the new home office you’re excited about shares a wall with a noisy laundry room. Also, being able to quickly reference dimensions will allow you to imagine how you and your furniture will fit into the new space.  

Order an appraisal and a home inspection
Even in cases where they’re not required, you don’t want to skip these steps. Especially when you can’t or don’t want to tour a home yourself, having expert and objective documentation regarding the value and condition of the home is more important than ever.

It’s ALWAYS better to work with a team of agents with years of experience in helping buyers buy sight unseen. That’s where we come in! Kevin and Jennifer Hanley, REALTORS (with a combined 28 years of real estate awesomeness) The Hanley Home Team of Keller Williams Realty http://www.HanleyHomeTeam.com 904-515-2479

Understanding Price Per Square Foot

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calculating home price, Home values, price per sq ft, price per square foot, pricing real estate per sq ft, real estate, Real Estate in Jacksonville FL, Real Estate Team, The best real estate agent in Jacksonville

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 – The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.TheHanleyHomeTeam.com

How to Shop a Farmer’s Market

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Farmers Market, Local Harvest, Real Estate in Jacksonville FL, shopping fresh

Never shopped a farmers’ market before? You’re missing out! They’re a great way to support local growers and eat the freshest food of the season. I’ve put together seven handy tips for next visit and would love for you to share yours.

With the rise of sustainability and “locavore” movements, farmers’ markets are growing in popularity almost everywhere you look. Farmers’ markets are a great way to lay hands on some of the freshest fruits and vegetables while supporting farmers and their families right in your community.

Though you might not be aware of it, there’s probably a farmers’ market near you. A good place to start is the Local Harvest website (http://www.localharvest.org/) which can help you find a variety of markets in the U.S.

If you’ve never shopped a farmers’ market before, don’t be intimidated! Below are some helpful tips to make your experience fun, affordable, and convenient:

1. Be sure to bring small cash bills (and change, if you have it). Typically ATM/Debit cards are not accepted. Payment is usually handled at farmers’ stands, not through a check-out line.

2. Having your hands free is a big plus, so consider carrying a fanny pack for securely storing your money. (Prevents you from having to put your wallet down… a big reason wallets get lost!)

3. Old strollers can make for handy shopping carts, plus they fold up nicely for transport to/from the market. Don’t forget any reusable bags you may have at home, too!

4. Don’t haggle for small lots of fruits and veggies. Looking to buy a big box? Then you might suggest a deal.

5. Some of the best tasting fruit may not look waxy and “supermarket fresh.” Don’t let this deter you. Often quality fruit from the farm is never shipped to supermarkets because it’s fragile. Handle gently, and don’t be afraid of minor cosmetic flaws.

6.If you want to ask farmers lots of questions, try to time your visit for very early when the market isn’t slammed.

7. Remember that fresh means seasonal! Go with an open mind, not a “must have” list. Part of the pleasure is discovering what’s at its peak and getting creative with ingredients.

Have you been to a farmers’ market in Jacksonville? We’’d love to hear what your favorites are! Kevin and Jennifer Hanley 904-422-7626 http://www.facebook.com/hanleyhometeam