How Coronavirus Has Impacted Home Buying

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Impacts of Coronavirus

The COVID-19 pandemic has impacted everyone in many different ways. From having to quarantine, working from home, schooling from home, workouts from home, it’s easy to say that people are spending more time in their homes. This has led many people to wanting a home with more space or designated areas for certain activities. We have gathered some statistics on this topic.

Changes in Planning to Buy a Home

Three-quarters of homebuyers who plan to buy a home within the next 12 months say the coronavirus pandemic has impacted their home buying plans: 25% said it caused them to move or speed up their timeline, 20% said it caused them to delay moving plans and 17% are now looking for a less expensive home. Specifically:

  • 16% said the pandemic has caused them to want to move
  • 15% said it caused them to move sooner than originally planned
  • 6% chose both options

Home Preference Changes

  • 21% want a designated area to work from home
  • 21% want more outdoor space
  • 10% of respondents now want a bigger home
  • 7% want a designated space for children to learn from home

Why Changed Plans?

  • Of people planning to move, 55% said low mortgage rates are a factor in their changed plans
  • 52% said spending more time at home is a factor
  • 40% said working from home contributed to their desire to move

If the Coronavirus pandemic has caused your family to be spending more time at home and you’re now thinking about looking for a home with more space, Rountree Realty is always here to answer any questions you may have and help achieve your real estate goals during these crazy times.

October Newsletter

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September has come to a close and it’s time to start looking forward to fall.
In our October issue of our monthly newsletter, you will find fall events, featured listings, and market trends. Click the link below to check it out.
Please don’t hesitate to get in touch with any of your real estate needs.

Duke Rountree
Rountree Realty Corp.
Broker / Owner
Call / Text 352-572-1739
Info@Search352Homes.com
Search352Homes.com

October Monthly Newsletter

We Want To Sell Your Home

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Have you thought about selling your home? It can seem overwhelming and confusing at times. That’s why Rountree Realty has a step by step plan to get it done!

When you reach out to Duke Rountree with Rountree Realty Team, here is what will happen:

First Step: Consultation and CMA (Comparative Market Analysis) 

    • We will have a phone consultation and set an appointment to preview the home and property.
    • We will meet with you to learn what expectations you have for selling your home.
    • We will tour the home with seller, noting all features and improvements for our CMA.
    • We will do a CMA (Comparative Market Analysis) to evaluate the value of your home.
    • We will suggest and advise any changes beneficial in making your home marketable.

Second Step: Pricing and Marketing Preparation

    • We will schedule an in-home presentation to discuss the CMA, Pricing & Marketing Strategy.
    • We will prepare all documents (Listing Agreement, Seller Disclosure & Listing Data Entry Form).
    • We will schedule professional photos (interior, exterior and drone). 
    • We will do a 3D virtual tour of your home to show every viewpoint. 
Third Step: Marketing The Home for Sale
 
    • We will have your home posted on MLS (Multiple Listing Services).
    • We will also use Zillow, Realtor.com, Homes.com, HomeFinder.com, and 100’s of additional websites to sell your home.
    • We will showcase your home on www.search352homes.com website through our Blog, Featured Listings, and Map & Local Area Page.
    • We will mail postcards to neighboring properties.
    • We will create colorful Features & Benefits flyer (in home for buyers and sent to REALTORS) .
    • We will use our company’s professional signs and Supra electronic lock boxes.
    • We will market your home for sale on our social media platforms (Facebook, Instagram, Twitter & Blog).
    • We will do an Open House (if possible).

Step 4: Follow up and Feedback

    • We will give monthly updates on price, market changes & effects.
    • We will follow up with Realtors and buyers for feedback on your home.
    • We will assist in interim Seller financing to use FHA, VA, or USDA depending on the situation.  
Step 5: Offer, Contract and Closing
 
    • We will represent you upon presentation of all contracts/offers.
    • We will assist in negotiating the highest possible price and best available terms.
    • We will keep you advised on the status of the mortgage (approval, appraisal, underwriting), title search & examination, inspections (home, termite, water test & septic), survey, etc.
    • We will arrange the final walk through with buyers.
    • We will review the final closing statement prior to closing day(no surprises!!)
    • We will deliver your final check at closing. 

Rountree Realty Team and Duke Rountree are dedicated to helping people sell their homes and assisting every step of the way. Contact us to get your home sold!

Do You Know Who You’re Hiring?

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Good Day All, 

I hope everyone is having a great week!! The weekend is almost here and I’m sure your weekend is jammed packed with preparations and holiday activities! Lately, I’ve seen so many homeowners listing their homes with Realtors based out of Jacksonville, Orlando and even some in South Florida. For the homeowners that are doing this, I have 2 questions for you.

Why? And Do You Know Who You’re Hiring? 

Below are just a few questions you should ask Realtors when you’re interviewing them to list your property. 

  1. Are You a Member of your Local MLS and Board of Realtors? 
  2. Do You Have a Marketing Plan to Get my Property SOLD? 
  3. What Are Ways That Will Make My Property Stand Out Against Others? 
  4. Ask Realtors for Their Recommendations?
  5. Do You Have a Follow Up System to Keep Me Informed?

Have you seen all of the marketing that is included when you list with Rountree Realty? Professional Photography, 3-D Tour, Floorplan of Home, Social Media Marketing Campaigns, Website Article and MORE!!  Below is an example showing just a few of these items. >>> 

http://bit.ly/HomewithHwy315Frontage

For More Info on How I Can Help You SELL Your Property and Provide the RESULTS You Deserve Please Contact Me! (352) 577-9171 or Email Info@Search352Homes.com 

Advantage to Listing Your Home After the New Year!

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Good Day All, 

I hope everyone is having a great week!! Can you believe that it is almost December 1st? The countdown to Christmas is here!! This may surprise you that a Realtor is telling you this, but now is NOT the time to list your home! I know it’s a shocker, but below are a few reasons why you want to wait and list your home for sale after the New Year. 

  • Holiday Décor – I know we all like to have our homes decorated for the holidays! Honestly though the last thing you want in your homes pictures and in your home while buyers are looking is Christmas tree’s, Santa Clause all over the place, the home plastered in green and red, etc. Wait until after Christmas, put the décor away, clean and be ready to impress buyers!! 
  • Timing – Most people list their home for sale in the Spring time. Listing your home right after the new year makes your home stand out and not get lost in the flood of homes listed in the spring. Plus, hopefully you will be under contract and moving in the spring instead of just getting the process started. 
  • Ring, Ring Ring – Realtor’s phones, emails and all forms of communication is typically very slow in December. Which means buyers are typically waiting until after the holidays to purchase a home. Listing in January means they will be waiting to see your home verses having it sit on the market in December with very to no activity. 
  • Tax Time – Often at the end of the year people start to look at their taxes, financial situation, etc. and plan for the next year! Having your home fresh on the market in January is ideal for people getting a head start on 2019! 

I hope you find this information helpful!! Just remember list with me in January, but call me today so we can get a plan together!

Call/Text (352) 577-9171 or Email Info@Search352Homes.com 

 

Get The Most of Your Tax Return-Buy a Home!

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Good Afternoon All, 

I hope everyone is having a great start to your Monday! Who has filed their income taxes and is just waiting for your refund to hit their bank account? Have you given any consideration as to what you’re going to do with your tax refund? Here’s an idea for you…INVEST IN YOURSELF AND BUY A HOME!!! Buying a home is one of the best financial decisions you can make! Below are just a few reasons what you should invest in yourself and buy a home NOW! 

1.) Low Interest Rates, BUT on the Rise- The average 30 year fixed interest rate is about 4.5%. This is still incredibly low, but over the past 8 weeks we have been seeing an increase in rates. 

2.) Home Values- Sale prices and home values are on the rise! This is a good thing! We want values to go up gradually which means if you purchase now, hopefully within a year or so you will have positive equity in your home! 

3.) Home Inventory- Most home sellers think about listing their home in the spring. They know the hard Florida winters are behind us and home buyers are ready to purchase! 

4.) More Cash in Your Pocket- Did you know parts of Marion County and surrounding areas qualify for 100% USDA financing? Meaning no down payment for you! Let’s chat on how we can negotiate the seller paying some of your closing cost so at the end, you have keys in your hand with very little money out of pocket! 

5.) Tax Benefits- Have you thought of all of the tax benefits of purchasing a home? Tax write offs, mortgage insurance, homestead tax exemption, etc. I’m sure your accountant will have even more tax benefits for you! 

If you have any questions or want to get started today with your home purchase please contact us. We would love to have the opportunity to help assist you with ALL of your real estate needs. Thank you!

3 Reasons Why… It’s Great Time for Sellers Aug 2015

Posted by Duke Rountree on

2015 is turning into an excellent year for sellers because of rising home prices, increased demand from home buyers and happy houseless overall seller competition for most U.S. and Ocala Marion County Homeowners

 

1. Stronger demand from buyers… Demand from buyers has remained high and less competition(homes for sale), is making 2015 a fantastic year for many Marion County home owners. There is currently a larger pool of buyers, including first time buyers, boomerang buyers)previous owners who lost their home to foreclosure or short sale), and traditional owner-occupant buyers.

2. Home prices on the rise…Across the nation home and condo sellers in the first half of the year sold for an average of 13% above original asking price. Homes in the median price range have increased 6.4% since 2014 based on the June – Monthly Market Reports from Florida Association of Realtors for the Ocala/Marion County area. “So far in 2015, [sellers] are realizing the biggest gains in home price appreciation since 2007,” Blomquist says. “In June, sellers sold for above estimated market value on average for the first time in nearly two years.” Median sales prices of existing-homes pushed above the previous 2006 peak to a record high in June, the National Association of REALTORS® reported this week. The median existing-home price for all housing types was $236,400 in June – surpassing the peak median sales price set in July 2006 at $230,400.

3. Less Seller competition… New listings have decreased year over year by -2.6% and pending homes sales have increased 7%. Ocala/Marion County inventory has also decreased -8% and currently there is only a 6 month supply of inventory. This means if no other homes were placed on the market in the coming months it would take 6 months for ALL homes to be sold. Also the decrease in the number of distressed properties has fallen -11.8% and these sales accounts for less than 10% of all closed sales.

It is important to remember that location is the biggest factors in considering all of the numbers and statistics. It is important to find a trusted real estate professional that is knowledgable about your local market to discuss in further detail. Want to know the value of your home…Contact me today for a “free, no obligation” market analysis of your home and property.

 

Source: Realtormag.realtor.org – DAILY REAL ESTATE NEWS | FRIDAY, JULY 24, 2015″2015 Great Year to Sell,” RealtyTrac (July 22, 2015)

Florida Home Buyer Programs for 2015

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Florida currently has 3 home buyer programs available;

  1. FIRST-TIME HOMEBUYER Program -Florida’s First-Time Homebuyer Program offers 30-year fixed rate loans through participating lenders and lending institutions. As with most first-time homebuyer programs, income and purchase price limits do apply. A borrower must have a minimum FICO credit score of 640 to qualify.
  2. Local SHIP Program – Low-to-moderate income borrowers across the state can inquire with their local county as to what down payment and closing cost assistance is available in their given area.
  3. Florida Housing Mortgage Credit Program – The Florida Housing Mortgage Credit Certificate (MCC) Program allows first-time homeowners to claim up to $2,000 each year as a tax credit on the mortgage interest paid. The MCC program cannot be combined with the first-time homebuyer program. Similarly to the first-time homebuyer program, income and purchase price limits will apply.
For more details on Florida Housing Finance Corporation details >>>>> CLICK HERE
 Check out this FIRST TIME HOME BUYER WIZARD TOO! >>>>>>> CLICK HERE FOR WIZARD

Monthly Market Detail Report – June 2015

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In the Ocala/Marion real estate market, conditions continue to be even as fewer houses become available compared to his time last year. June 2015 found an decrease in the number of new listings, active listings and pending sales were up for single-family homes, according to information from Ocala Marion County Association or Realtors®.

The 877 new listings in June 2015 represented a -2.6 percent decrease over previous year. Active listings decreased 8 percent to 3,083 over the same period. Pending sales had a high jump in June, with the 656 pending listings in for the month, indicating a 7 percent increase over June 2014. Actual sales of single-family homes also increased over the same period.

The Ocala Marion County Association or Realtors® reports that in June, a total of 606 single homes were sold in the Ocala/Marion County area. This represents a 12.8% percent increase over sales in previous year. Prices in the Ocala/Marion County real estate market continue to climb during that year-long period. The median price of a single-family home in the Ocala/Marion County area increased 6.4 percent between June/2014 and June/2015, to $116,000.

Average home prices declined -3.7 percent during that period to $145,862. The closed sales by sales price during the year

increased in all price categories except for “less than $50k and over $1,ooo,ooo. Homes spend an average of 73 days on the market in Ocala/Marion County, which is decrease from June/2014 of 38.1 percent year-over-year. Generally higher prices, limited availability, and quicker sales of those homes that come up for sale make the Marion County real estate market a favorable environment for sellers, and because of the great value in our area buyers can find quality homes far cheaper than average rent prices for the area.

Rountree Realty provides expert real estate services to residential buyers and sellers in Marion County including Ocala, Fort McCoy, Anthony, Sparr, Citra, Salt Springs, Orange Springs and and surrounding communities. Contact us today for more information on local real estate and for professional assistance navigating this sometimes complex home market.

This report describes member activity for the association and is not confined to any specific geographic area. Statistics for each month compiled from MLS feeds on the 15th day of following month. Data released July 22, 2015, produced by the Florida REALTORS®

COSTS vs VALUE 2015 Report – Exterior Improvements Best Return on Investment

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When you begin to consider remodeling or home improvements, homeowners should consider the return on investment(ROI) or recouping of their costs. Many updates are preformed simply because the homeowner desires that upgraded kitchen or bathroom. It is important to remember that many, if not most, updates are not great ROI, because they are more for personal reasons rather than a cost vs. value.

“It can be a daunting task to even decide on what home improvement projects to undertake, let alone to physically tackle and complete them,” says National Association of Realtors (NAR) President Chris Polychron. “Realtors know what buyers are looking for during their search, and curb appeal is and always will be important. That explains why Realtors once again rated exterior projects as some of the most attractive and valuable for homeowners.”

Seeing these reports now for many years in a row I have noticed one update that always stands above the rest in terms of cost vs value; the steel entry door. According to Realtors, a new steel entry door returns about 101.8% of its costs upon resale compared to 96.6% last year. For my sellers and marketing the property to future home buyers we always start at the curb first and front entry way next. These areas are two of the most important areas to focus. Why, because first impressions do matter and the entrance to every home being marketed for sale should be warm and inviting. If you cannot afford to replace the front door, then we suggest a good painting and replacing all door hardware for that fresh and clean look.

The good news is the steel entry door is consistently the least expensive project in the report.

Rounding out the top 10 projects in terms of cost recouped:

  • Manufactured stone veneer (92.2 percent)
  • Garage door replacement – midrange project (88.5 percent)
  • Siding replacement with fiber cement (84.3 percent)
  • Garage door replacement – upscale project (82.5 percent)
  • Vinyl siding replacement (80.7 percent)
  • Wood deck addition (80.5 percent)
  • Minor kitchen remodel (79.3 percent)
  • Wood window replacement (78.8 percent)
  • Foam-backed vinyl siding replacement (77.6 percent)

© 2015 Florida Realtors® http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=2&id=317926