What Does an "As-Is" Real Estate Sale in Florida Mean?

Whether you are selling a home in Trinity or New Port Richey Florida or you are buying a home in the New Port Richey Florida area, the term "As-Is" is used quite often in regard to the terms of the sale and the contract used in the purchase of the home.  In Florida we have a purchase and sales contract that is an "As-Is" contract and it is the most commonly used contract in our area.  The main reason being that Florida is a Transaction Broker state. That means that the real estate Broker for the seller and the Broker for the buyer have non fiduciary responsibility to the customer. In essence, we are both working to protect all parties to the contract and facilitate the sale of the property. Transaction Brokers are not held to full disclosure as a single agent would be and we work together to satisfy the needs of the customers (seller & buyer).  The As-Is contract is the most even and fair transaction contract to both the buyer and the seller and it the contract most preferred by the customers.

Contained in the contract is a right to inspections clause. This states that the buyer has the right to have the home inspected by a licensed home inspector, pool professional, roofer, plumber etc... during a specific time frame and decide whether or not the home has any major defects and the buyer may cancel the contract and receive their escrow deposit or "good faith deposit" provided they notify the seller in time.  The buyer may also at their discretion  cancel the contract based on the condition of the home based on inspection and they are not required to use a licensed inspector to do so but, they do have to adhere to the time frame in the contract. The buyer can also ask that some items be repaired prior to closing and if they buyers financing requires the repair, it would behoove the seller to make the repairs. FHA financed buyers can include the FHA addendum with repair amounts to an As-Is contract for purchase.  This is why the listing real estate Broker will evaluate the home as to whether or not it will pass an FHA inspection. If not, the home is not offered with an FHA financing option. 

As-Is does not always mean, take it or leave it. In some cases of a foreclosed home or and inherited property that may be the scenario and if you are selling a home and not willing to do repairs, you should price it accordingly and offer it to only cash buyers. You are still legally required to disclose any material defects, not readily visible to the buyer that may affect the value of the property on an "As-Is" sale.  

Generally, when a home is for sale "As-Is" it is understood that the seller is not going to make cosmetic improvements to the home in order to satisfy the buyers personal taste. The seller will usually not want to paint rooms or replace carpeting, sod, new a/c etc... but keep in mind that "As-Is" does not mean that the home has a defect and more often than not, the seller will make reasonable repairs in order to satisfy the buyers financing requirements.

I am always here to answer any questions you may have reading selling or buying a home in the New Port Richey Florida area. Contact me anytime to discuss your real estate needs. 

Heritage Lake Community in New Port Richey Florida

Heritage Lake in Trinity Florida is a wonderful neighborhood reserved for those age 55 and over. The neighborhood is located convenient to shopping and dining in the New Port Richey.  Homes in the Heritage Lake community vary in size and style so you are sure to find a home style that meets your needs.  I have assisted home owners in Heritage Lake to sell their homes for years and I know that it takes more than just having your home in the MLS to attract home buyers to your home for sale. You can rely on my local real estate expertise in Trinity and New Port Richey to help you get your home in Heritage Lake Sold. 

The community of Heritage Lake has a Home Owners Association and the community maintains common areas and grounds so you can expect the see well manicured laws and landscaping throughout the community.  You can also enjoy the community pool, tennis courts and other social activities right inside the neighborhood.  The community is located off of US1 (Little Rd.) and just to the north of SR54 in Trinity. The Suncoast Parkway is about 20 minutes by car which takes you to points south and north like Tampa and Brooksville. Click here to see what's near the Heritage Lake community.

You need a tech savvy real estate professional who knows how to properly photograph and advertise your home in Heritage Lake to attract the most amount of buyers to your home for sale.  You can contact me online or call me to discuss my marketing plan for selling your home. I'm here to help anyone with their real estate needs in New Port Richey, Trinity and Port Richey Florida. 

How to Make Your Relocation to Florida Easy

We all know that winter is coming and if you are planning in making a move to Florida in the near future you should start planning your move early. When speaking to Realtors in your area about selling your home, be sure to ask if they can help you find an experienced real estate agent in Florida who can start to assist you well in advance of your home going under contract in your current state.  You and your family are making a big move and you will want to be sure you have the right real estate professional in Florida who will be with you every step of the way.

Simple Tips in Finding a Florida Realtor

1- Have your agent provide you with the names and contact information of 3-4 Florida agents located in the area you wish to move to.  I recommend you contact these agents yourself to speak with them and conduct an interview over the phone before you decide to work with them.

2- Once you chose a Realtor in Florida to help you, ask them to set you up with an email program that will send you homes for sale in the area that meet your needs. This way you can get an idea of various home styles and features that fit your budget and needs in a home.

3- When it gets closer to your move and you have a contract on your current home, make plans to come down and view available homes that meet your criteria and budget. When I assist customers who are relocating I offer to preview homes before you get here and give feedback as to the condition of the home so we don't waste any of your time while you are here house shopping.

4- Be sure the agent in your current state and the agent you choose in Florida stay in communication with each other through the entire process so everyone is on the same page and aware of what stage in your move we are at.

I am always here to help anyone who is relocating to Florida in the Land O"Lakes, New Port Richey, Port Richey and Trinity area. My team and I serve the western Pasco county Florida area and we have the knowledge and experience you need in a relocation real estate professional.  Contact me online to request information about relocating to west Pasco Florida. 

What is a "CMA" or Comparative Market Report

Whether you are selling your home or thinking about selling your home and even if you are buying a home, a "CMA" or Comparative Market Report contains invaluable information about your neighborhoods recent real estate market activity.  Trulia and Zillow give you an estimate of your homes value and it has been proven that these websites do not have accurate and complete information about your homes current market value. These websites have a long delay in updating their information and quite often they do not have their information correct to begin with. This is why I urge you to consult with a Realtor in your area who can create an accurate market report for you. 

What exactly is a "CMA" or Comparative Market Report?

The real estate professional you contact to prepare your report will research your neighborhood real estate activity and compile a market value range for your home.  How do we do this?
You should be asked by your Realtor if you have made any improvements to your home. How old is your roof, how old is your HVAC system, have you replaced your homes windows etc... You should also inform the real estate agent of any updates you have done like kitchen or bathroom renovations.  We need to know this information so we can accurately compare your home to the others in your neighborhood. 

We then research the MLS system for "comps" or comparable homes. These are homes in your neighborhood with similar floor plan, sure footage and features that are most similar to your home. Should you own a unique property in a community of varied home styles, we take it a but further and I would urge you to speak to a Luxury home professional with experience in unique homes.   Once we have "comps" for your home we look at these specific criteria. Homes that have Sold in the last 3-6 months. Homes that are currently Pending closing. These Pending homes have executed contracts on them and are moving forward to being Sold within the next 30-60 days. These homes are very important as they show us what the home price were that attracted buyers to make an offer on the house. Homes that are Active with Contract are also included in your report. These homes have executed contracts on them but the financing, inspections or other contingencies of the sale have not yet been met. Once these contingencies have been satisfied the home will move into a Pending status. Therefore Active with Contract homes as just as important as those that are already Pending. 

Withdrawn homes are ones I do not include in your report. These homes have been removed from the market for any number of reason and will not be included by an appraiser at the time your homes appraisal is performed. Expired homes can show us what price range was too high to attract a buyer as they have "expired" without a sale during the term of their listing agreement with the Realtor.  Our professional opinion on Expired homes is that they will not necessarily be beneficial to your report and often times they are excluded.  My job is to give you the most comprehensive and accurate information and Withdrawn or Expired homes have too many variables to their situation that would require speculations on our part.

I offer you the ability to receive a comparative market report delivered right to your email. You can fill out my online contact form and request the information. I will need to call you to discuss your upgrades and homes features so please include your pone number. I Will Not solicit your business to list your home and I do not require you to sign or agree to anything in order to get your Comparative Market Report. We serve the cities of Trinity, Odessa, New Port Richey, Land O'Lakes, Port Richey and Hudson Florida.

  

Market Report for the Community of Westport in Port Richey Florida August 2015

WESTPORT IN NEW PORT RICHEY, FL

August was another great month for our local real estate market and the waterfront community of Westport in Port Richey Florida had a good amount of activity for the month of August and with the local market trends, we expect even more activity in the future.  Information was obtained through the MLS from August 1- September 1 and the report does not include private sales. Not all of the homes were waterfront and if you want to know your homes market value range, you can contact me to receive your custom report.

Market Report for Westport in Port Richey

6 Homes are Active for Sale. (as of Sept 16) Ranging from 2 bedroom to 3 bedroom homes with 1,396-2,432 square feet and priced from $119,000 - $485,000

2 Homes were Pending Sale. Ranging from 2 bedroom to 3 bedroom homes with 1,434 - 1,757 square feet from $87,977 - 174,900 (pool home)

1 Home SOLD in August. This was a 4 bedroom home with No garage and Not Waterfront and final sale price was $75,000 as a Short Sale.

Knowing your homes market value is important as a home owner and I am happy to create a market report for your home in Westport at your request. Contact me online and I will email you your report.

Market Report for Summertree in New Port Richey, FL. August 2015

Summer is over and in the month of August, the community of Summertree in New Port Richey was busy in terms of real estate activity. This market report is based on information from the MLS from August 1 - September 1 2015 and homes sold by owner are not included. The information is deemed reliable but not guaranteed. If you would like specific information on any one property, please contact me for further information.

Summertree Market Report August 2015

Homes Currently Active for Sale (Sept 16, 2015) - 
     9 in Pointe West Condominiums
     4 in Arborwood
     2 in The Greens
     3 in Cross Creek
Homes Active With Contract - 3
Homes Pending Closing -
     1 in Pointe West Condominiums
     2 in Cross Creek
Homes SOLD in August-
     6 in Pointe West Condos ranging from 1 bedroom 1.5 bath to 2 bedroom 2 bath from $18,000 - $42,000 Final Sale Price
     4 in Cross Creek ranging from 2 bedroom 2 bath to 3 bedroom 2 bath and square footage ranged from 1,622 to 2,045 and prices ranged from $110,000 - $177,000 Final Sale Price
     1 in home in Arborwood  was a 2 bedroom 2 bath home that sold for $89,000 Final Sale.

Please keep me in mind if you or anyone you know us interested in Buying or Selling a home in Summertree in New Port Richey Florida. You can count on my neighborhood expertise and experience to make your real estate transaction a smooth and enjoyable one. 

Summertree Community Facebook Page

Mike Gallo is Your Waterfront and Luxury Home Sales Professional in Pasco county Florida

Living on the Gulf of Mexico in Pasco county Florida has been the best decision we made. We enjoy the New Port Richey downtown area with fine dining, casual dining, waterside dining, an art gallery, Theatre and much more. The affordability of Pasco county's Gulf Coast has drawn home owners from all over the country here for years. New Port Richey and Port Richey Florida have been ranked among the most affordable cities for waterfront homes in the country.  Waterfront homes in communities like Gulf Harbors, Westport, Millers Bayou, Hudson Beach, Leisure Beach, Signal Cove and others offer a variety of home styles and market values for you to chose from. Having a long time resident like myself as your Realtor can really help you when selling or buying as I know the area very well and can market and advertise your home for sale to give you the most exposure to home buyers. 

Pasco county Florida also offers a variety of higher market homes to chose from in areas like Odessa, Trinity, Land O'Lakes and the waterfront communities in New Port Richey and Port Richey.   Selling your higher market home in our area takes a knowledgable and trained real estate agent like myself. You can count on my Florida Luxury Realty certified Luxury home training and marketing to effectively showcase your home to potential buyers. Please contact me to discuss how I can help you with your real estate needs in our local higher market areas.  My buyer specialist is informed of all of our customers homes and tours the homes prior to showing them to buyers. We feel that having a buyers specialist that is knowledgable of your home will help your potential home buyers to feel more comfortable in making an offer on your home. 

Please keep me in mind if you or someone you know is in need of a waterfront or higher market real estate professional in the western Pasco county area. We serve the Trinity, New Port Richey, Port Richey, Hudson and Land O'Lakes area of Pasco county Florida. 

2144 Seven Springs Blvd. Trinity, FL. 34655
http://mikegalloluxuryhomes.com 

Great Curb Appeal for Your Home with Fall or Halloween Decorations

Fall is one of the largest home decorating seasons we have and in Florida we have to make the change in season a visual one. With the autumn season, Halloween and Thanksgiving the fall home decorating season lasts for about 3 months and here in Florida the weather is warm and delightful.  I am a fall decorating junkie and as a matter of fact, my homes interior has been decorated for fall since September 4th and that same weekend I started my exterior decorating with fall colored mums in my porch planter and a fall welcome mat as well as a few artificial pumpkins on the porch next to the door. Next month I will add all of our spooky Halloween decorations and get ready for All Hallows Eve.

We may go a little fall festive in our home but it is not currently for sale. So, how do you decorate for the fall season if your home is currently on the real estate market for sale? 

Photo Cred: Hometalk.com Via Pinterest 

Realtors always tell you that curb appeal is important when selling your home and this is especially important in the fall. You will want to make your home inviting to your potential buyer from the road while allowing them to see your homes exterior in a good light. I would suggest avoiding putting all those fake cobwebs in your shrubs and skip the ghosts and goblins this Halloween. Decorate for the season and not the Holiday. You will want to aim for more subtle and tasteful exterior fall decorations and limit them to 4 items on your porch or entry way. 

A fall wreath is a great way to decorate your home for the season. A wreath will give your potential home buyers a welcoming feeling and let them know that you care about your home. A well appointed entry way on a home makes a great impression on your potential home buyer.  Adding a few artificial pumpkins and maybe a scarecrow or bale of hay may be another great way to go. Keeping to the rule of 4, you are sure to not go over board. Remember, you want the buyers to see your house and not all your decorations.  There are a few curb appeal basics to keep in mind. Have your lawn cut and edged weekly. Keep those pesky weeds out of the front flower beds. If your mailbox is a bit worn, get a new one. Your house numbers should be visible and presented nicely. Maybe a nice painted tile house number would improve their look. Keep your porch free of debris and cobwebs. Even during Halloween.

We wish you a very peaceful and love filled fall season and all the best in selling your home. Please keep me in mind if you or someone you know is in need of a Realtor in New Port Richey, Trinity, Port Richey or Land O'Lakes Florida. I am always here to help. 

2144 Seven Springs Blvd. Trinity, FL. 34655