Vero Beach, FL Real Estate Video BlogPodcast with Kelly Fischer Kelly Fischer

If you have a student loan or are a cosigner on one, listen up. Fannie Mae just introduced three new rule changes that will affect those with student debt.  Looking to buy in Vero Beach? Get a Full Home Search  Looking to sell in Vero Beach? Get a Free Home Price Evaluation If you have a student loan or you are a cosigner on one, I have some good news for you.  Fannie Mae, the nation's largest underwriter of mortgages, recently introduced three new rules that will affect those with student debt. These new rules can make it easier to get a mortgage, and they can make it easier to pay off your (or your kids’) student loans. The first change is for those on income-based repayment plans, where having a high debt-to-income ratio is the No. 1 reason for not being approved for a mortgage.  Fannie Mae previously used a very conservative 1% of the total loan instead of the actual monthly payment. This can drastically lower your debt-to-income ratio and give you a much better chance of qualifying for a mortgage. Some folks are lucky enough to have their student debt paid by their parents or even by their employer. The thing is, Fannie Mae didn't take this into account when calculating the debt-to-income ratio. That's the second new change. If you can qualify for a mortgage right now, you definitely should. If your employer or your parents have been paying off your student debt and you can show evidence of this for the past 12 months, then this debt won’t be counted in your debt-to-income ratio. This makes it more likely you will qualify for a mortgage. If you can qualify for a mortgage right now, you definitely should. Rates are still at a historical low, and lots of great houses have recently come on the Vero Beach market. Fannie Mae also makes it possible to refinance your mortgage for more than the value of your home. Normally, there is a 0.25% fee that applies to any cash you take out in this way. The third big change is that Fannie Mae will now waive that fee when you use this cash to pay off a student loan.  This applies whether the loan is yours, or you're a cosigner. If the mortgage rate is significantly lower than the student loan rate, it can make sense to refinance in this way, and the new rule makes it cheaper to do so.  If you need help understanding these new guidelines to see whether they’re right for you, or you have questions about putting them into practice, get in touch with me at (772) 236-7862 or Kelly@KellyFischerTeam.com. I’ll be glad to help.  I hope to hear from you soon!

There are certain topics you should avoid talking about with a potential buyer. Here are four of the most important ones to steer clear of. Looking to buy in Vero Beach? Get a Full Home Search  Looking to sell in Vero Beach? Get a Free Home Price Evaluation Selling a home isn’t easy. You might have to show it a dozen or more times in order to find the right buyer. We think it’s a good idea if you aren’t home during any showings, but that’s not always possible If you do happen to be present at a showing, avoid these four topics at all cost. In fact, try to keep the talking to a minimum. Don’t be present during showings in the first place 1. How much you spent on “Blank.” As soon as you start talking about what you spent on something, the buyer will get nervous about the premium you are going to ask in your sale price for it. Just leave it alone. 2. How perfect your house is. Nobody’s home is truly perfect. In all my years, I have only seen one perfect inspection. Every other home has had flaws. 3. Repairs you’ve been “meaning to get to.” What you’re really saying is that there are flaws in the home that you don’t like. Avoid pointing out any flaws to buyers. Let them find them on their own. 4. Anything related to price. Just don’t mention it. Let’s wait and see if they are interested before we start discussing any particulars. Try to get out of the home during showings if you can. If you can’t, just make sure you avoid these four topics and you should be fine. If you have any questions for me in the meantime, don’t hesitate to give me a call or send me an email. I would love to hear from you soon.

Investing in a secondary or vacation home is a great way to make money and enjoy the Vero Beach lifestyle. Looking to buy in Vero Beach? Get a Full Home Search  Looking to sell in Vero Beach? Get a Free Home Price Evaluation Vacation and second homes are very popular in our area. Many people purchase a second home that they only use occasionally for the first few years, but eventually move into permanently.  The Wall Street Journal and the National Association of Realtors reported that prices of vacation properties are very close to a level last seen before the housing crisis. Secondary homes appreciated 4.2% in 2016, following a 28% gain in previous years.  There is no question that demand for real estate is up in Florida. Before you purchase in an investment property, there are a few things you should consider:  Budget: How often do you intend to use the property? What kind of income can be generated based on your usage and the seasonality of the population? Location: Most vacationers want to be close to the beach. The good news is that here in Vero Beach, most homes are only 15 minutes away from the shore. Entertainment options: Is there a pool on the property? What about golf courses, restaurants, or shopping nearby? Your guest will want plenty of things to do while they are here.  Activities: Stock up on kayaks, paddleboards, fishing supplies, and more so that your residents can enjoy their time here.  Our little piece of paradise continues to attract vacationers and snowbirds alike thanks to our friendly, relaxed lifestyle.  In Vero Beach, most homes are only 15 minutes away from the shore. As the owner of a vacation home, you will enjoy more profit and fewer headaches by purchasing a newer home. Not only will you have less maintenance, but new construction aesthetics really appeal to vacationers. Condos and reasonable new construction properties are good options for you.  Before you sign the dotted line, though, review the Homeowners Association documents and confirm that rentals are permitted. Beware of certain restrictions, like pet policies or the number of times you can rent out your unit.  If you have any questions, please don’t hesitate to reach out to us. We would love to help you find that perfect vacation property!

Today I’m going over some great tips for buying your next home while selling your existing one. Looking to buy in Vero Beach? Get a Full Home Search  Looking to sell in Vero Beach? Get a Free Home Price Evaluation A lot of people, especially if they are out of state or if they currently own a home, are having a hard time buying homes. Luckily, there are a few tips I have that can help you win in this market.  First, if you are someone owns their home free and clear, that’s fantastic. My suggestion would be to meet with a lender, set up a home equity loan, and be prepared to pay cash if at all possible. Not only will it make the process easier for you, it will also give you a competitive edge over all the other buyers.   Second, if you own a home but don’t have enough equity for the first option, you should meet with a lender to find out if you are qualified to get a second mortgage. We do have some lenders here in town that can help you with bridge financing and help you buy your next home before your existing one sells.  If you hire the right agent and price your home competitively, you should have no problem getting it sold. Third, you could request an extended closing date in your offer. It’s a bit of a risk, but it has worked for a lot of people. If the seller isn’t in a rush to move, for example if they are waiting for their kids to finish school, you can ask for a four or five month out closing date. You do need to be prepared in case your home doesn’t sell during that time. However, if you hire the right agent and price your home competitively, you should have no problem getting it sold.  There are a lot of things that need to fall into place in order for you to successfully buy and sell a home at the same time, but if you have the right agent, it can successfully be managed. We talk to a lot of people who were very nervous about undertaking buying and selling at the same time, but as long as you do things in the order that is best for your financial circumstances, everything should go smoothly.  If you have any questions about buying and selling at the same time, or if you have any other real estate questions, please feel free to give me a call or send me an email. I look forward to hearing from you. 

If you're thinking about selling your house on your own, it's not a question of whether you can pull it off. It's a question of whether you will get the most out of your sale by going solo. Looking to buy in Vero Beach? Get a Full Home Search  Looking to sell in Vero Beach? Get a Free Home Price Evaluation When looking to sell a house "For Sale by Owner," it's not a matter of whether people will or won’t list without an agent. People always consider selling their own houses to save some money. The real question is whether they'll get the best price for their house or even get themselves in financial or legal trouble along the way. We know from statistics that over 95% of home sellers use a real estate agent, and there's a reason for it. In addition to getting a higher price and avoiding legal trouble, there's exposure. Most people who are qualified and ready to buy a home go to where all the homes are—actual listings via the real estate agent they're working with.  Over 95% of home sellers use a real estate agent, and there's a reason for it. As a seller, if you're thinking of selling your own home, you have to ask yourself the right questions. I can buy hair dye and color my hair on my own, but I can't so it even close to as well as my hairdresser can. I can do my own taxes, but it would be very painful and I probably wouldn't get all the deductions I would by working with an accountant.  I believe you should let the professionals with experience handle these complicated transactions. It's especially true when it comes to your home, your biggest financial asset. It's not that you can't sell your home on your own, but you probably can't expect to get the best outcome. If you're thinking about selling your house, we'd love to tell you more about how we can help you get the most out of it. Just give us a call or send us an email, we'd love to hear from you!

Open permits can cause a lot of inconvenience for homeowners. Here’s why you should always check if the house you’re buying or selling has any open permits. Looking to buy in Vero Beach? Get a Full Home Search  Looking to sell in Vero Beach? Get a Free Home Price Evaluation Today I want to talk about open permits and how inconvenient they can make things as far as your home is concerned.   One of the things our team routinely does when listing properties and working with buyers is check our houses for open permits. Any kind of replacement work done on a property typically requires a permit with the county and an additional final permit.  The reason homes have open permits is once the owner(s) of that home paid the contractor for the work they did, that contractor never went back to the county to finalize the required permits. If you’ve had work done on your home, it’s very important that you check that your house doesn’t have any open permits, as having them can cause trouble down the road. I know from experience.  If your home has an open permit, that leaves you with an open problem. Recently, we were having some work done on our house and we assumed that the contractor we hired went through the proper channels to acquire the proper permit. Unfortunately, we were wrong. As the work was being done, the county showed up and issued a Stop Work Order. Our contractor then had to stand outside on our front lawn and wait for an inspector to arrive before he could continue working. I was actually glad this happened in a way because it saved me from having to worry about open permits down the road.  If you’re having work done on your house and using licensed, insured contractors, make sure you’re using people who’ve actually pulled the proper permits. Also, never write that final check until you’ve been provided with evidence that those permits have been closed out.  If you’re looking to buy or sell a home or need help finding out if you have any open permits on your home, feel free to give us a call. We’d be happy to help, and we look forward to seeing you next time!