Things To Do in New Port Richey Florida - Merlin's Magic Shop

Looking for something to do this weekend in New Port

Richey Florida?  Maybe a visit to Merlin's Magic Shop at 7150 Congress St. New Port Richey, FL. would be a fun choice for you and your family.  Merlin's Magic Shop is a local shop for both novice and experienced magicians to find the supplies they need to amaze their audiences.  Everyone loves a little magic in their life and Merlin's Magic Shop has a theatre on site where you can enjoy live magical performances from various magicians.

This Saturday on October 4th you can see Dan Stapleton at Merlin's Magic Shop Theatre at 4pm and 8pm.  Contact Merlin's Magic Shop for information on seating availability for you and your family.  Just one more thing to do this weekend in New Port Richey Florida. Enjoy a fun afternoon out surrounded by the experience of magic and wonder.

Living in New Port Richey Florida we have many fun and

informative places to visit and see.  This is just one more reason I love living in New Port Richey Florida and I know you will too.  Contact me if you or someone you know is interested in Selling or Buying a home in New Port Richey.  Let my experience and local knowledge work for you to help you reach your real estate goals.  If you have a local business and you would like me to 

feature a blog post about your business just contact me online and ask.

written by Michael J. Gallo

How to Cut Through the Red Tape of Mortgage Prequalification

It is no secret that the home loan process has changed over the last

few years and obtaining your mortgage pre-qualification letter may take a little more work on your part than in years past.  Most home buyers need to obtain a home loan and mortgage when purchasing their home and I wanted you to have a little more information on how the process works and how you can be better prepared for your pre-approval.  Laurie Johnson at Express Mortgage Lenders who handles many home loans for people in Pasco and Hernando counties is one of my preferred lenders and I have asked her a few questions in preparing for this article.

You will need a pre-approval from a lender before you can even start looking at homes to purchase. So the first step is to call a reputable mortgage lender.  What that mortgage lender will ask you for is this:
     2 years of tax returns (a definite for 1099 workers)
     2 months of bank statements (checking, savings, money market)
     2 current pay stubs 
     2 years of W2's 
 Gift funds to close will need to be "sourced" that means that if someone gives you money to help with your closing costs the bank will not only need to see your statements before and after the deposit but they will need to see the other persons bank statements before and after the funds were given. **if you are using money from someone else to close ask them for their 2 bank statements as soon as possible**

You may need to also provide a "letter of explanation".  This letter may be needed to explain items on your credit report, why you are moving, why you are moving from another state, explanation of unemployment periods, what caused a negative item on your credit report etc... this letter should be hand written and signed. If you prefer to type the letter, be sure to print it and sign it in blue ink and scan a color copy over to your loan officer.  

Home loan mortgages are Not "harder" to get than in years past.  

The mortgage pre-approval process has only gotten more thorough.  You may feel that the process is a big nuisance but it is to ensure that borrowers have more financial security and ability to pay back their home loan debt.  If you have any questions regarding the home loan and mortgage approval process you can contact Laurie Johnson at Express Mortgage Lenders and she and her staff will assist you any way they can.  

written by Michael J. Gallo

You May Have to Replace Your Breaker Panel when Selling Your Home

One thing I have learned in my 10+ years in the real estate business

is that I never stop learning and everyday I am educated on a number of topics.  This week my education was on the Federal Pacific breaker panel.  Last week the buyer of one of my customers homes for sale had his 4 point inspection.  The inspector noted the breaker panel as being a Sylvania brand breaker panel. The really nice gentlemen buying the home was unable to obtain homeowners insurance because of this panel.  I had never heard of this before so I did a little research and there seems to be more brands that are an issue other than the Sylvania one in my customers home.  This "material defect" halted the transaction until the defect could be cured.  The home that had this Sylvania breaker panel was built in 1982. I also discovered one in a home built in 1974. 

This is what I found in my research and there may be more information that what I have found.  The Federal Pacific brand breaker panel has been deemed unsafe as a fire hazard.  The Federal Pacific breaker panel uses a Stab Lock(R) breaker which has had the unsettling habit of not turning off the current even in cases where the toggle switch (wall switch, light switch) was in the off position.  The result was a constant current when the breaker should have shut off the current and the result was fire or fire like melting of outlets and wiring. What I can see is that the Federal Pacific breaker panel, the Zinsco brand breaker panel and the Sylvania brand breaker panel all used this Stab Lock(R) breaker.  Due to the unique design of the breaker, you cannot just replace the breaker.  You need to replace the entire breaker panel.  In New Port Richey Florida where I predominantly sell homes, this upgrade can cost anywhere from $1,000 to $1,800 depending on other factors (as told to me by my electrician).   The home where I first discovered this issue has been upgraded to a new breaker panel and the cost was $1,000. 

I urge you to do your own research and not to rely on my findings of these 3 particular  brand breaker panels.  I was told that most every insurance agent can provide you with a list of the breaker panel brands that you will need to upgrade in order to sell your home.  I would suggest checking the list and doing the upgrade regardless.  Links to pertinent articles on the subject are included in this blog post and I would ask that you click on them and research this topic further.  One thing is for sure. I have started to look at my potential customers breaker panels to see if they are Federal Pacific, Zinsco, Sylvania or have those Stab Lock(R) breakers. 

If you or someone you know is interested in selling a home in New Port Richey or Trinity Florida please contact me with any questions or concerns you have and I will do my best to get you the most accurate answers. 
I am not a licensed electrician or home inspector. I recommend you seek the advice of a listened professional for all of you electrical repairs.

written by Michael J. Gallo

Is Your New Port Richey Real Estate Agent a Full Time or Part Time Agent?

Hiring the right real estate professional to assist you with your real estate needs is important.  Having a knowledgable and experienced Realtor to represent you in your transaction is in your best interest to insure you have a smooth real estate transaction and that your best interest is being protected by your Realtor.  Often times I am on the opposite side of a transaction where the buyer or sometimes even the seller has hired a part time real estate agent who most likely has a full time job somewhere else.

Here are a few reasons you want a Full Time Realtor

Home inspections and communication with mortgage professionals take place during normal business hours. If your agent is at "work" during business hours they cannot represent you and do what is in your best interest. If your agent can only check and respond to emails after work, their responses are not received until the next day which can cause delays in the transaction.

Many part time agents who have another job will not be

available to be at your home inspections or even your closing. If you also work, who will be there for your inspection? In my opinion, this is not having professional representation.

If your buying a home that is occupied by the seller, your final walk through inspection will take place about an hour prior to settlement (closing).  If your part time real estate agent is at work and can't come to the closing, how will you be able to conduct your walk through? Who will be there to answer your questions and protect you if an issue arrives at walk through?

In Florida we have the ability to represent our customers as Transaction Brokers. That means we can represent both sides of the sale because we have laws to follow that protects both seller and buyer in the sale.  Often times if you hire a part time real estate agent the agent that was hired by the other party (seller or buyer) has to pick up the slack and fill in for your agent to get the transaction closed.  However, if the other agent is a Single Agent for the seller or buyer they are not the person you want filling in for your agent because they have another set of laws and rules to follow and one of them is "full disclosure to their client". The work for their client and not the transaction. There is a big difference.

Contact me to discuss how you can find a full time real estate

professional in New Port Richey Florida or Trinity Florida.  I can assist you in finding the right agent to help you reach your real estate goals in Pasco, Pinellas and Hernando counties. Florida Luxury Realty has full time Realtors working in all three counties and I can help you find a Florida Luxury Agent that will be the right fit for you.

facebook.com/mgallorealtor

written by Michael J. Gallo

#1 Piece of Advice for Cash Home Buyers in New Port Richey Florida - Get an Appraisal

Many times when I hear other people talk about buying a

home with cash the topic of conversation is what a cash buyer is not required to do.  Cash buyers are not required to have a home inspection.  Cash buyers are not required to have an appraisal, Cash buyers are not required to have a termite inspection.  If you are purchasing a home with all cash and you hear these comments from your real estate professional you may want to rethink using their services.  It is true you are not required to have any of these things, you are not even required to carry homeowners insurance...but why wouldn't you?

Home buyers using a lender for a home loan are required to have the home appraised by a licensed appraiser.  This is to protect the bank and ensure that the collateral (the house) is of at least the value of the loan amount since the mortgage is a lien on the property and considered collateral for the loan.  Buying a home with cash in New Port Richey or any other part of Florida I urge you to have the home appraised.  The fact that you are paying cash for the home should not mean that you put yourself in the position of overpaying for the home.  I also urge every cash buyer to have a professional home inspection performed.  Your contract to purchase the home can be contingent on the home receiving a fair home inspection report.  Just because you are paying cash for a home doesn't mean that you should spend you hard earned cash on a home that may have serious defects that you find after the purchase.

My #1 piece of advice to cash home buyers is to have any and all inspections and appraisals performed within the inspection period as set forth in the contract to purchase the home.  I take my job of protecting the public very seriously. My customers always take a priority to my income and you deserve the same protection as anyone who uses a home loan when buying your house. Contact me to discuss your real estate needs in New Port Richey, Trinity and Hudson Florida.  Let my experience and knowledge work for you. 

written by Michael J. Gallo

Selling Your Home in New Port Richey Florida During Halloween

If you are a fan of Halloween like me, you probably love

decorating your home with witches and ghosts and all the pumpkins you can find.  Selling your home in New Port Richey Florida during the Halloween season, you may want to rethink your scary decorations and think about your potential home buyer.  I doubt there are too many Halloween "Scrooges" out there but some people may find macabre decorations unsettling or inappropriate and we want your potential home buyer to feel comfortable in your home and picture themselves living in your home.

Decorating your home while on the sales market during Halloween will require you to decorate more for the season and less for the Halloween festivities.  Pumpkins, fall wreaths and Autumn centerpieces are all great ways to celebrate the harvest season and keep your home warm and inviting to your potential home buyers.  You have probably heard real estate professionals tell people to de-clutter their homes and take down personal photos.  This is so your potential home buyers will see your home and not your stuff.  Too much Halloween can be too much for some home buyers to look past.

Selling your home in New Port Richey Florida is an easy and

enjoyable process with the right real estate professional.  Contact me to discuss your real estate needs and how I can help you and your family reach your goals.  Florida Luxury Realty and myself, always put customer service above all else. I work diligently for you to get your home sold.

written by Michael J. Gallo

Florida Contracts - Your Inspection Period and Right to Cancel

When buying a home in Florida, you have the right to

obtain inspections on the home you are buying even with an "As-Is" contract for purchase.  You have the option to chose how long of an inspection period you have. Often times we see an inspection period of 14 or 15 days but during negotiations on the purchase you may agree to make your inspection period shorter and only have 7 or 10 days.  No matter what your inspection period is, you  must adhere to that time frame or you may be putting your escrow or "good faith" deposit in jeopardy.

There are many inspections you may want to perform when buying a home.  Your insurance company will require a 4 point home inspection and a wind mitigation or roof certification to secure your homeowners insurance.  You may also want to have the pool inspected, air conditioning inspected, mold inspection, lead based paint inspection and a wood destroying organism inspection. Your home inspection is a general inspection and I advise you to have a pool professional or an a/c professional inspect those items if you think there may be an issue. The Wood Destroying Organism or "WDO" inspection checks for termites and other insects that eat wood.  I advise every home buyer in Florida to have a WDO inspection performed on any home they buy.

You can have all the inspections you want BUT if you

decide to cancel the contract based on the inspection reports, you must notify the seller in writing before the expiration of your inspection period.  Should you decide not to buy the home after the inspection period has ended, the person selling the home may keep your escrow deposit.  Your real estate professional should do everything in their power to keep you to the time frame as set forth in the contract and if you need more time you can request an extension of the inspection period from the seller.  The extension of the inspection period must be agreed upon and signed by all parties to the contract. Should you not adhere to the inspection time frame or written notification, it is not your real estate agent or brokers responsibility. 

Knowing your contract is important. You need a real estate professional who knows the contracts and has the experience and knowledge to provide you with the service you want when selling or buying a home in Trinity, New Port Richey or Hudson Florida.  Contact me online to discuss your real estate needs.

written by Michael J. Gallo

Selling Your Home in Trinity Florida - 5 Steps to an Easy Sale

Selling your home in Trinity Florida takes the services of an

experienced and knowledgeable real estate professional who can provide you with the information you need to make informed decisions that lead to an easy and enjoyable home selling experience.  When selling your home in Trinity, your home will be in competition with the other homes for sale in the area.  Your real estate professional should provide you with as much information as possible regarding these homes and the home that are under contract and have sold in recent months.

Here are 5 Steps to an Easy Sale

Interview a few agents for the job of selling your home.

 Compare their market reports for similar information but you should also take notice to the quality of their presentation.  Your real estate professional will be the person who is responsible for all the advertising and marketing of your home.  Their presentation should be a good reflection of their abilities to do this job well.

You will be required to provide the buyer of your home with current homeowner's association documents.  Your real estate professional should have the knowledge or the resources to obtain the necessary documents.  You may want to ask your prospective agent if they are able to obtain the documents and provide them to the buyers agent in pdf form.

The photos of your home are highly important to the

advertising of your home.  Ask your prospective agent if you can see photos of current or past listings and compare the quality of the photos.  If you are not happy with the agents photos, ask if they will be hiring a professional photographer to photograph your home. 

Ask questions and take notes.  Sounds simple but you would be surprised how many home sellers do not do this.  Jot down questions you want to ask your prospective agent and jot down their responses.  

Prepare your home for the sales market.  Remember, you are in competition with other homes for sale in your neighborhood. Often times simple and easy changes or improvements will not only help your home sell but they may help your home sell for the most money.  Curb appeal and a clean, well maintained home is important to home buyers.

If you or anyone you know is interested in selling a home in Trinity or New Port Richey Florida, contact me online to request your o obligation real estate consultation and market analysis of your homes current market value range.  I am here to assist you throughout your entire home sale process.  If you are thinking about selling in the future, contact me today so we can discuss ways you can prepare to get your home on the market.

The Golfing Community of Meadow Oaks in Hudson Florida

Meadow Oaks is a community in Hudson Florida with various

home sizes and home sites.  New construction homes are still available in The Reserve of Meadow Oaks.  Located off of State Road 52 just on the New Port Richey and Hudson border, Meadow Oaks is conveniently located to the Suncoast Parkway which makes commuting to Tampa or areas to the north more convenient.  This beautifully maintained community has highly affordable homeowners association fees.  

The homes of Meadow Oaks and the Reserve in Meadow Oaks are larger homes of newer construction and style.  You can enjoy conveniences of local shopping and dining along State Road 52 and once you come home to the community, you notice the quiet suburban feel that seems far away from the activities of the nearby area.  If you are interested in school information or if you have any other questions about the community, do not hesitate to contact me.  I am here to assist you in any way I can.

Hiring the right real estate professional is important when

selling or buying a home in Meadow Oaks or any other community in the New Port Richey or Hudson area.  You need the services of a real estate professional who has the experience and knowledge needed to provide you with the service you deserve.  Contact me online today for your no obligation real estate consultation.

  

written by Michael J. Gallo