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‘Renovate’, according to the Merriam-Webster Dictionary means “ renew, restore, refresh, and rejuvenate all mean to make like new.”  When the phrase “completely remodeled or renovated” is used in the description of a listing, many homebuyers expect the entire house to be completely updated. But in residential real estate, a house advertised as “completely remodeled” may have several big-ticket items, such as the roof, HVAC system, appliances, pool, and windows that are either original or close end of their useful life. This is particularly true with investor “Fix and Flips”. Buyers may find a newly flipped home more appealing because much of it feels new – but…

An appraisal gap is the difference between the fair market value determined by the appraiser and the amount you agreed to pay for the home. An abnormally high number of homes across the United States are being appraised below their agreed-upon sales prices, causing some deals to implode.With home prices soaring in recent months, buyers often pay above asking price to win bidding wars. As a result, CoreLogic estimated that about 13% of appraisals came in below the contract price in August. A home appraisal is an evaluation and report performed by a licensed appraiser to determine a home’s fair market…

On average, the cost of homeowners insurance in Florida has gone up by 32.5% since 2016. This is more than three times higher than the average rate change than the rest of the country experienced during this time (10.9%). More and more of my clients are analyzing the pros and cons of self-insuring instead of carrying a wind insurance policy. Self-insurance entails setting aside money for a potential loss in lieu of purchasing a third-party insurance policy. Depending on the losses your home faces, this could either save or cost more money than conventional insurance coverage. The logic behind self-insurance is…

Caveat Emptor, “Let the buyer beware.” is a real estate principle that warns buyers to “beware” and do their due diligence. It is of paramount importance, for Florida real estate buyers, since the majority of real estate agents are transactional agents.  When a purchase contract for property says the buyer is to take the property “as is,” the seller truly means “as is.” Under the doctrine of caveat emptor, property buyers are held responsible for inspecting the quality and condition of the land or building before the final execution of the purchase contract. If the buyer does not exercise due diligence during…

  The 4th of July is here, and if your pet is afraid of fireworks and loud noises, you may need just a little more preparation to make sure your pet stays happy and relaxed during the celebration. Set up a safe space in advance.Create a “happy place” where your pet can retreat to and feel secure. Choose a spot in your house where your pet usually likes to relax that will also buffer the sights and sounds of the fireworks, such as a walk-in closet or a room with blackout curtains. Fill it with comfortable beds and some favorite…