EYEMARK REALTY, INC.

Single Story For Sale in Weatherly

Mark Cohen, Broker — Fri, 04 May 2007 16:29:00 GMT

Appraised $259,000, Will sell for less

• 1,825 sq. ft., 3 bath, 4 bdrm single story "Efficient Floor Plan." - MLS® #266462 $255,000 - Below New Appraisal.

Weatherly, Gainesville - Will sell below new appraisal of $259,000. Convenient to Santa Fe Community College, Oaks Mall, and University of Florida. Walk to "A" Rated Elementary and Middle Schools. Excellent condition. Beautiful home. Great Location. Many extra features and nice floor plan.

Property information

Business Card Lettering and Sizes.

Mark Cohen, Broker — Sat, 28 Apr 2007 03:27:00 GMT

One of my pet peeves is microscopic lettering on business cards. Tons of ink is used on the photo and almost no ink is used to present the contact information. Phone and fax numbers and email addresses are written so small and thin they are hard to read, especially on glossy paper.
The population is aging and seniors and even young persons like to be able to read a business card easily. I know I do. I made my cards with large lettering and my customers love it.

What do your cards look like?

I use my logo and lettering only with no face photo. But my cards are standard size so they fit into shirt pockets and wallets easily.

The extra large card size mentioned by Todd Clark in the Reliberation Blog is a great idea not only for the ability to have large lettering, but the ability to be noticed and remembered. But that 4 x 6 sounds just a little too big too me. I might try add a bigger size as an experiment with certain customers. Standard is 2 x 3.5 inches. I might try a 3 x 4.5 or something like that. It will be a fun project, easy to do on my computer.

I have always designed and printed my own business cards using Office Depot or Avery clean break blanks. I will see if they have a larger size.

What do you think about oversized business cards?

College Towns Offer Great Real Estate Investments

Mark Cohen, Broker — Fri, 30 Mar 2007 13:31:00 GMT

Although properties near colleges and universities tend to be more expensive than those in other parts of town, they hold their value better and usually show better than average appreciation. When you have a son or daughter attending school, it can make sense to purchase a home or condominium (townhouse or flat) rather than renting an apartment. Extra rooms can be rented to other students thereby offsetting some of the mortgage payment.

If you are an investor, the stability of a student rental market can keep your property fully occupied all year long. Student enrollment in colleges and universities are expected to rise over 15% during the next 10 years (US Dept. of Education). Graduate students are expected to increase by 25%. The high demand for rental housing in college towns will continue to rise with the greater enrollments. Many students begin their college education during the summer and continue straight through all year long reducing vacancies in June, July, and August.

This trend has been very evident in Gainesville, Florida. The University of Florida has about 50,000 students and Santa Fe Community College has about 12,000 students.

How To Sell Your Home

Mark Cohen, Broker — Sun, 18 Mar 2007 16:21:00 GMT

EYEMARK REALTY, INC.
"Your Eye On The Real Estate Market"
Office: (352) 373-3783 Cell: (352) 222-5609 Fax: (352) 373-3783
Email: mark@eyemarkrealty.com Websites: EyemarkRealty.com www.GainesvilleFloridaHomes.com

How To Sell Your Home

1. Obtain the Services of a Trustworthy, Reliable, and Experienced Realtor
                Selling your home can be one of your most important financial transactions. Therefore it is extremely important that you take your time to select the realtor that is best for your situation. You should interview several agents and ask them key questions about their experience, dedication, and marketing techniques. Choose one who can and will communicate with you effectively and keep you regularly informed. You should make sure that the agent's personality is compatible with your own.   However, no matter how hard you try to choose the right person, sometimes they turn out to not do the job you expected. In your listing contract you should have the right to fire your agent and hire another agent in the same company or switch to another company, without a penalty or cancellation fee.
2. Calculate an Accurate Market Value
                Before setting an asking price it is important to have an idea of how your home is valued in the current market. It is tempting to obtain an estimate from a lender; however many times a refinancing appraisal will arrive at too high a price. Lenders like to estimate the value of your property to be higher than it actually is in order to encourage refinancing. The best way to obtain a more accurate value is to ask your realtor for a Comparative Market Analysis (CMA). It compares sales of similar homes in your neighborhood or community and will give you an up-to-date estimate of your home's value.
3. Place a Reasonable Price on Your Property
                You obviously want to get the most money for your property. Ironically, the best way to do this is not to list your property at an excessively high price. Overpriced properties tend to take a long time to sell and eventually sell at a lower price anyway. Too high a listing price will cause many prospective buyers to disregard your home before even looking and may lead some buyers to expect an excessive array of features. They will be disappointed when they actually see it. Remember, you are competing with many other homes, so a reasonable asking price that reflects the current real estate market will attract many more offers, and result in a fair sale price.
4. Let Your Realtor Effectively Market, Advertise, and Show Your Property
                It is unusual to find a buyer immediately, so give your realtor enough time to effectively advertise your home. Even in a busy (seller's) market some homes take longer than others to sell. In a slow (buyer's) market it might take several months and some price reductions to sell your home. Your agent should use a variety of methods to market your home to the public and other realtors. The Multiple Listing Service (MLS) and the yard sign are still the most effective ways to sell homes. Internet websites and online promotion have become highly popular and increasingly effective. Your realtor should have an effective website and be equipped to receive all e-mail messages and phone calls from prospective buyers. You should allow your agent to install a lockbox so that other realtors in the same MLS can easily show your home when you are not there. Be prepared to have your home shown in the evening and on weekends.
5. Present Your Home in Excellent Condition
                Your realtor will have many ideas about how to best prepare your home for buyers. However, the first impression a buyer gets is extremely important, so your home should always look presentable, clean, and as pleasant as possible. Make sure everything functions properly and make repairs if necessary. A poorly kept home that is in need of repairs will prevent many potential buyers from making offers thereby lowering the potential selling price.
6. Make Prospective Buyers Comfortable in Your Home
                Buying a house, for most people, is a difficult and emotional decision. Therefore you should let prospective buyers examine your home without pressure. While they are looking, be friendly and hospitable and make sure your realtor points out all features and benefits. Always be receptive to questions and answer them honestly. You can negotiate and haggle with people after they make a written offer.
7. Beware of "Lookers and Site Seers" Who Will Waste Your Time
                People who call or knock on your door because of a "for sale" sign in the yard may not really be interested in your home. They probably are 6-9 months away from buying and are more interested in seeing what is for sale in the community. They may still have to sell their home or may not be able to afford a home yet. They may still even be unsure as to whether or not they really want to relocate. People who obtain the services of a realtor are usually much closer to making a purchase, have been pre-qualified by a lender, and will be more interested in your home. Your realtor will help you avoid wasting valuable time with persons who aren't serious buyers.
8. Help Your Realtor Negotiate an Offer Into a Contract
                It is unusual for a buyer's offer to meet the exact price and conditions you desire. Your realtor's job is to communicate your position accurately to the buyer or buyer's agent. Therefore, it is helpful for you to prioritize your needs and desires and make them known to your agent. The negotiation may continue back and forth for several days until either an agreement is reached about every item in the offer, or there is no agreement and the offer expires. When an agreement is reached and everyone in both parties sign it, the offer becomes a contract. You should realize that in order to obtain a contract, usually both you and the buyer will have to give in on some points.
9. When You Have a Contract, Know Your Rights & Responsibilities
                Real estate purchase and sale contracts can be complex and confusing. It is extremely important that you are well informed of the details in your contract because it is a legally binding document. Make sure to know your obligations and responsibilities before signing the contract by asking your realtor or attorney to fully explain everything. Not being aware of all of the amounts, terms, conditions, and timing could cost you a considerable amount of time and money and leave you little or no recourse if the buyer backs out of the deal.

How To Buy A Home.

Mark Cohen, Broker — Sun, 18 Mar 2007 16:10:00 GMT

How To Buy A Home

1. Working With a Realtor.
            A realtor is able to assist you with the research, showing, negotiating, financing, paperwork, and legwork involved with a home purchase. It is important that you take your time to select the realtor that is best for your situation. You should interview several agents and ask them key questions about their experience, knowledge, and dedication. Choose one who can and will communicate with you effectively and will concentrate on showing you only those homes that meet your requirements no matter who has them listed for sale.
            In Florida, you have the choice of using a transaction agent, a buyer's agent, or non-representative agent. Transaction agents have fiduciary responsibilities to both buyers and sellers and work to make the deal happen in a way that satisfies all parties. Transaction broker commissions are paid by the seller. Buyer's agents represent the buyer exclusively and their commissions are paid by the buyer. You should negotiate a commission that allows you to be comfortable, but also gives the agent an incentive to work hard in your behalf.   A non-representative agent can show you properties, but doesn't have many legal responsibilities to you.
2. Checking Your Credit.
            Lenders look at your credit history and score (FICO number) to determine how likely it is that you will pay back your loan. So, before you apply for a home loan, obtain a copy of your credit report from one or more of the three major credit rating companies, Equifax, Experian, and TransUnion. Federal law requires them to give you a free copy once a year. You can also ask a lender to obtain your combined three bureau report for you.
            Review the information in your report carefully. It will show your entire credit history and your credit score as of the day it was ordered. If you find significant inaccuracies or mistakes, bring them to the attention of the company that compiled the report immediately. Each company has a procedure for correcting errors and it is essential to begin the process before you have found a home to buy or apply for a loan. Once you are in the process of obtaining a loan, it may be too late to convince a lender that your credit has been wrongly rated.
            If you already know that there are blemishes on your credit, let your lender know about them beforehand. Tell why they are there, what you are doing to repair them, and why you are a still good credit risk. If you had a few late payments due to extenuating circumstances - like the loss of a job, divorce, or medical bills - let them know so that they understand that it is not likely to happen again.
3. Getting Pre-Approved By a Lender Before You Look For a Home.
            You should get pre-approved for a loan, not just pre-qualified. Getting pre-qualified, while sounding good, is only obtaining an approximate idea of what you can borrow. Your information hasn't been verified so it has little value when negotiating with a seller. A pre-approval means that a lender has reviewed your credit history, verified your income, assets, and employment, and has almost approved your loan. An unconditional approval for a certain amount is even better. When you do find the home you want to buy, it only has to appraise high enough to cover your loan amount. Then your loan should close quickly.
            Getting approved gives you an advantage over other buyers. By knowing exactly how much you can borrow, you can negotiate a price you can afford and show the seller that you are a more certain buyer who can close quickly. If you are non-approved or pre-qualified you are only guessing that you can make the purchase. A seller may not want to take a home off the market to give you time to arrange financing and get approved.
4. Searching For a Suitable Home.
            There are many ways you can search for a home, either by yourself or with the help of a realtor. If you have already chosen a realtor, they will search for homes that meet your requirements, usually beginning with the local Multiple Listing Service (MLS). They will make arrangements to show you the homes that you find interesting.
            You can also find information yourself for homes listed in the MLS. Look on realtor websites like http://www.gainesvillefloridahomes.com/, on local MLS websites like http://www.realestateingainesville.com/, and on national MLS websites like http://www.realtor.com/. Many realtors also advertise their home listings with yard signs, newspaper and magazine ads, and on cable television.
            Some sellers attempt to sell their home by themselves. These For Sale By Owner (FSBO) sellers will advertise with yard signs, websites, newspapers, and magazines. Many FSBO sellers will work with realtors, but some won't. So, sometimes you will have to contact the seller directly to see the home.
5. Learning About Factors That Affect Home Values.
            When the home you like is in an unfamiliar part of town or you are moving to a new city, you should do diligent research to find out about current market values. Ask your realtor to do a Comparative Market Analysis (CMA) to get the sale prices of similar nearby properties that sold recently. It will compare homes of similar size, age, and features. Then see where your prospective home fits in on that list. It may be near the top of the price range and be overpriced. It may be at the low end of the price range and be a terrific deal. Make sure there isn't a good reason for the high price such as many extra features or low price such as needing major repairs, having smaller than average rooms, or being closer to a source of noise. Noise can come from many sources such as school yards, factories, highways, and airports.
            If you have school age children you should always check out the school district and school zoning. In many cities there are neighborhoods that are zoned for schools that are not the closest to the home. Good schools mean good value for your children and other families with school age children. That will make it easier to sell your home later. However, if you are retired you may want to look for a home in a quiet neighborhood away from a school or university.
            You should talk to neighbors and contact the local police to obtain crime statistics. It is virtually impossible to find a completely crime-free neighborhood, but the type and frequency of crimes is important.
            You should find out the distance and response time for police, fire, and emergency medical (911) service. You may also want to find out the distance to shopping, recreation, and potential employment. These and other things particular to your situation might affect your quality of life and long term property value.
6. Making an Offer
            Real estate purchase and sale contracts, and their addendums, riders, and attachments, can be complex and confusing. Make sure to know your obligations and responsibilities before signing your offer or initialing changes made by the seller on a counteroffer. Ask your realtor, attorney, and lender to fully explain everything. Not being aware of all of the amounts, terms, conditions, and timing could cost you a considerable amount of time and money. Remember that when an offer and all of its changes are accepted, signed, and initialed by both you and the seller, it becomes a legally binding document.
            Therefore, when you are ready to make an offer for a home make sure that your realtor knows your exact situation. You will have to decide on a price to offer, how much of a deposit (binder) to place in escrow, and whether you will pay cash or obtain financing.
            If you require a loan, it is important to protect your deposit (binder) in case your financing isn't approved. You should add a financing contingency that states how much you want to borrow and your down payment amount, the highest interest rate you want to pay, and how many years your mortgage will be. It is also essential to add an inspection contingency. Other conditions can be included depending on your particular situation. For example, you may have to sell your existing home first, before closing on this one.
            Since it is unusual for a seller to accept your exact price and conditions, the negotiation may continue back and forth for several days until either an agreement is reached about every item in the offer, or there is no agreement and the offer expires. During these negotiations, it is important to prioritize your needs and desires so your realtor can communicate your position accurately to the seller or seller's agent. Remember that the market value of a home is determined by the price that a willing buyer and a willing seller agree to, not by an outside source.
7. Negotiating With The Seller
          There is usually a lot of money at stake for you, the seller, the lender, and the realtor(s).   However, other factors can make negotiations with some sellers emotionally charged. The seller may have fond memories and much sweat equity in the house and has to sell it for financial reasons. Or, a change of employment to another city is forcing the sale. You should try to understand the seller's motivations, appreciate the situation, and empathize with them. On the other hand, some sellers are all business and the only thing that matters is their bottom line. In either case, you will be better off to look at all of the items in the negotiation in an objective, unemotional manner.
            When negotiations do not result in an agreement it may be that the seller is asking for a price not supported by recent comparable sales. There may be motivations beyond the physical aspects of the home and land that the seller has factored into the price. Then you must decide what the home is worth to you today and how much it may appreciate in value in the future. You may be justified in paying more or ending the negotiation and begin looking for another home to buy.
8. After You Have a Contract
            When you are financing a home purchase the lender will obtain an appraisal of the value from a certified or licensed appraiser. If the appraisal comes in above the purchase price you have found a bargain. If it comes in significantly below the contract price, the lender may refuse to make your loan without you increasing your down payment. In this case you may be better off to invoke the financing clause in your agreement to cancel the purchase.
            When you are paying cash, your contract should have an appraisal contingency and you should obtain an appraisal to find out the home's estimated value. If the value is significantly lower than the sale price, you can invoke the appraisal clause to cancel the contract and receive your deposit back.
            Florida law provides that in residential transactions the seller must give you a seller's property disclosure and a community disclosure. There are also several other disclosures that are required depending on the age and condition of the home. You should also make sure to get a copy of the deed restrictions (restrictive covenants) that go along with the property. The deed restrictions tell you what the property can be used for and what can be placed on it.
            When the negotiation results in a fully executed contract (signed agreement), the next step is to have the home inspected. A home inspection completed by a competent inspector is worthwhile because it could save you much money and aggravation in the future. Look over the report objectively and ask for detailed explanations about items that need repair. When the repair items are minor and below the amount specified in the contract, the seller will have to complete them before the closing date. You should always do a walk through inspection before the closing to make sure all repairs have been done satisfactorily. When repairs are expensive or complicated and the seller refuses to pay for the work, you should invoke the inspection clause in your agreement to cancel the purchase.
            When you are borrowing money, the lender will require a survey from a professional surveyor. Even if you are paying cash you should order a survey to make sure that the property measurements are correct, the building location and measurements are correct, there are no encroachments, and there are no claims to part of the land by neighbors. A survey will also show the location of easements and rights-of-way for roads and utilities.
            A title search will be ordered from a title company or real estate attorney to see if there are any liens or claims to the property. Clear title is necessary for the lender to issue your mortgage or for your protection if you pay cash. A title insurance policy will be issued guaranteeing the title against anyone who comes along later making claims.
9. The Closing
            The last step in buying a home is the closing. While the items above are being done, a closing agent is chosen to collect all of the paperwork from the realtors and lender, examine the title, collect and disburse monies, and record the appropriate papers and deed in the official (county) records. The closing agent can be a title company or an attorney and is chosen either by the seller or buyer depending on local traditions. On the closing date, the final papers are signed by everyone involved, money changes hands, and you become the legal owner of the home. It is usually not necessary to attend the closing because everything can be sent by overnight delivery, fax, email, and wire transfer.
10. After The Closing
            After the closing, you own your home. Utilities should be transferred and if it is your principal place of residence in Florida (you are living there and it isn't a rental property), you should file for Homestead Exemption at the county property appraisers office. This will reduce your assessed value for tax purposes by at least $25,000. There are several exemptions of varying amounts depending on your situation, so remember to ask to see what is available.
            To summarize, you should always prepare in advance by learning about the home buying process. It is important to look at this process in a logical and objective manner by not allowing your emotions to cloud your judgment.

Big Company or Small Company?

Mark Cohen, Broker — Mon, 26 Feb 2007 02:18:00 GMT

A question for visitors to my website blog:

Would you be more or less inclined to hire a real estate agent from a very large franchise company, a medium sized company, or a very small independent company?

Please give me the reasons for your choice.

Thank you.

Mark

Homes For Sale are Accumulating

Mark Cohen, Broker — Thu, 15 Feb 2007 02:17:00 GMT

Many more homes are coming into the market than selling. Spring is usually a busy time in North Central Florida. Remember "Supply and Demand." Sellers are beginning to temper their high expectations and selling prices are coming down.

With many homes of all types and in all price ranges available, it is a good time to find what you desire before low interest rates disappear.

Mark

Spring Time is Here.

Mark Cohen, Broker — Thu, 15 Feb 2007 02:06:00 GMT

It is unofficially springtime here. Today my Purple Magnolia Tree's flower buds opened up into beautiful big flowers. This kind of magnolia, a native to Japan, blooms before its new leaves appear, so it looks like a mass of light purple.

Actually it has been spring here all winter, so far. My Periwinkles and Impatiens have been blooming and growing non-stop. The weather people said it got into the 20's for two nights, but I know they were wrong. These flowers would have frozen down at 31 degrees. I was a practicing Landscape Architect for 33 years and I know plants.

This has been a very warm winter and its almost over.

Mark

A Nice Place To Live.

Mark Cohen, Broker — Thu, 18 Jan 2007 02:49:00 GMT

Hello Bloggers. This is my first blog. Thoughts to begin a new year:

Home and Land prices in and near Gainesville are very reasonable compared to many places in Florida and other states.

Gainesville is a wonderful place to live, partly because of the University of Florida and its educational and cultural aspects, partly because of its "urban forest" and relative lack of congestion, and partly because of the great weather. It has most of the advantages of a big city without the disadvantages, and it is close to Jacksonville, Orlando, and Tampa if you sometimes really need to go to a big city.

Gainesville is a technology center and a growing retirement center, a place for people of all ages.

GO GATORS. The University of Florida is located here and the UF GATORS are now the NCAA Collegiate champions in both Football and Basketball. This is the first time in NCAA history that the same school has held both championships simultaneously.

Mark