Jennifer Cook & Raul Aleman

Home buying blunders to avoid

Jennifer Cook & Raul Aleman — Wed, 29 Oct 2008 21:36:00 GMT

time for many. It’s easy to make a mistake when you’re nervous. While the Bahia Realty Group will do their best to help you avoid mistakes when you buy homes in the Tampa Bay area, there are some things that only you can take charge of.

The first blunder of this kind is not being totally open with the professionals, such as the real estate agents (that’s us). Some buyers are afraid that the agent will think badly of them and judge them. This isn’t the case. We have the responsibility to make sure that you make a good purchase and are set up with a good, manageable mortgage. It doesn’t matter who you are or what your situation is – we’ve seen it all. And if you’re getting really nervous and want to back out, don’t be afraid to tell us. While we’re only human and will be disappointed if a sale doesn’t go through, this is still much better than finding out later that you’re unhappy and in over your head with something you didn’t really want to buy.

The second big mistake that is out of our control is changing your credit and financial situation before closing on the deal. While you might feel like celebrating your first home purchase by buying a new car to match the property or taking out hire-purchase agreements for whiteware and appliances for that new home, this may suddenly change whether you qualify for that home loan. You may end up losing that house if the lender decides that you aren’t a good credit risk. Think carefully: it’s better to have a house of your own and stick with the old goods you had when renting than have shiny new appliances and no home to put them in.

Call us now. Our experts will be glad to help you determine the maximum price you should pay for your Tampa home.

Jenn Cook

Who are Habitat for Humanity?

Jennifer Cook & Raul Aleman — Wed, 29 Oct 2008 21:32:00 GMT

When you’ve been around in the real estate business as long as the Bahia Realty Group have (even though we’ve only recently begun to concentrate on the Tampa Bay area of Florida, we’ve been around for quite a while now), it’s inevitable that you’ll hear about the charitable organisation Habitat for Humanity.

A few myths circulate about Habitat for Humanity. The biggest one here is that this organization gives homes away to the homeless for free. This isn’t true. While it is true that Habitat For Humanity has the goal of helping people who are on lower incomes into their own homes, they don’t just give them away willy-nilly. Applicants have to meet certain criteria; the organization seems to look for those who fit the old description of “poor but honest”. And the applicants also have to put in up to 500 hours of sweat equity – their time and labour. As one Habitat For Humanity representative put it, anyone can bang in a nail to help build a house, at the very least.

Habitat for Humanity does not receive any government funding – it’s purely done on charitable donations. Donors can contribute building materials, empty lots or labour, as well as money. And yes, if you are interested in making a donation to this inter-faith charitable organization in the form of a building site, we can help you find a good one in the Tampa Bay area.

Jenn Cook

Buying a foreclosure home in Tampa Bay

Jennifer Cook & Raul Aleman — Wed, 29 Oct 2008 21:25:00 GMT

Many first home buyers that walk through the Bahia Realty Group’s doors looking for a budget-priced home consider buying foreclosure homes in the Tampa Bay area (among the other areas). Foreclosure homes are often a good buy, as the owner is eager to make a quick sale, but naive buyers can sometimes be ripped off. Some desperate people will try and clean out what they can from a foreclosure home when they leave, including (quite literally) the kitchen sink. While our team will do their best to make sure that foreclosure homes do indeed have everything that a house should have, it’s good for buyers to know what someone selling for foreclosure reasons should leave behind.

A house should be more than four walls and a roof (plus the indoor walls). All the fixtures should be there. This means that when you buy a home, even at rock-bottom foreclosure prices, you can expect that a home will have cabinets and countertops in the kitchen, anything built in (including a dishwasher and a microwave, if you’re lucky), plumbing, air conditioning and ventilation systems, lights, doors (that shut properly!), ceiling fans, toilets, sinks, basins, windows and built in shelves. You should also expect that fixtures in the ground are left behind – the previous owners shouldn’t try to rip out the fencing.

What previous owners of a foreclosure home can remove when they leave to make way for you, the buyer, includes: all their personal belongings that were moved into the house with them (obviously); equipment that isn’t built in, such as refrigerators and televisions; curtains and loose carpets, and pictures on the walls.

Some vicious and resentful sellers even go so far as to trash the house before they leave. there are many ways to acquire a foreclosure property. Visit our Tampa Foreclosure page to learn about the different ways to purchase a foreclosure property.

We'll be glad to help you find the best deal in Tampa Foreclosures.

Jenn Cook

Avoiding loan fraud

Jennifer Cook & Raul Aleman — Wed, 29 Oct 2008 21:20:00 GMT

When you’re buying a new house, it’s not just important to make sure that you choose the right property to suit your needs; you also need to make sure that you get the right mortgage deal.

When you’re looking for the right property, you can usually trust the professionals to be on your side. We here at the Bahia Realty Group know that – when we help you to find the home in Tampa that suits you down to the ground, we feel as satisfied as you do. However, some “mortgage” providers aren’t quite so scrupulous, and you do need to be careful. Some news headlines have recently highlighted the dangers of mortgage fraud, so keep your eyes open.

Some so-called mortgage brokers, especially in the area of investment properties, run what is known as a Ponzi scheme. A Ponzi scheme entices investors (such as home buyers) into putting up their money into a scheme, but the broker or middleman doesn’t actually do anything to make that money work. All the Ponzi schemer does is take use the money from investor B to pay investor A. Be wary of any investment plan that tells you that you will get very high returns very quickly. A sound investment is for the long-term.

If you’re really unsure, ask the Bahia Realty Team for advice. We are very experienced and can help you in the right direction. Because when a home buyer wins, we win as well.

Call us to today show you the best deals in Tampa Real Estate.

Jenn Cook

Keeping cool for less energy in your Tampa home

Jennifer Cook & Raul Aleman — Mon, 20 Oct 2008 18:41:00 GMT

As we just come out of another hot Florida summer, you might wonder how on earth people survived the summer in the Tampa Bay area without air conditioning. Or else, you might wonder how to cut down on your energy needs/consumption but still keep cool – and as the Bahia Realty Group knows well, plenty of first-home buyers (and others) want to keep their energy costs down.

Fans were an old solution that have been around for a long time. And I don’t mean the sort of feather fans used by Southern belles to flirt with, or the things that look like horizontal windmills hanging from the roof. The most effective fans are whole-house fans or attic fans. These are mounted in the roof, and they suck in cooler air from the outside and push the warmer air up into the attic space and out into the air again. The breeze created by this moving air is much cooler than still air, so fans can drop the temperature to a comfortable level. And they use up to 90% less energy than regular air-con.

To be fair, whole-house fans aren’t perfect. They can’t do anything about humidity, and they can bring in pollen and dust from outside, which is bad news if you have hay fever or allergies. They may have to be supplemented by regular air-con in the hottest days of summer, but they can work well on their own.

If you’re buying and renovating a home in the Tampa Bay area – or building a new one as part of a development – then maybe you should consider installing a whole-house fan as a way of keeping energy costs down. Not a do-it-yourself person but still interested? The Bahia Realty Group can help you find contractors to install a whole-house fan or anything else you need.

Jenn Cook

How to spot serious flaws before you buy a Tampa Property

Jennifer Cook & Raul Aleman — Mon, 20 Oct 2008 18:11:00 GMT

We have homes in all sorts of conditions on the Bahia Realty Group’s property listings, ranging from brand new homes to foreclosures, REO's and older ones in serious need of some renovation and repair. While many people choose to buy property from us in the Tampa Bay area with a view to repairing or renovating, others buying in this desirable area just want a nice place to live in with no nasty surprises.

If you don’t want a do-it-yourself project but don’t want to buy new, it’s important to inspect your new property carefully. While the Bahia Realty Group will help you through this process – and you should be able to ask us any questions, including questions regarding the condition of the property – it wouldn't hurt to do a little looking on your own.

What are some warning signs that the property you are considering may be in need of some serious renovations: Here’s a list:

Discolouration in walls and ceilings: Yellow marks on walls or ceiling indicate leaks and water damage, which may be from a roof in poor condition or from leaky pipes. Black spots or patches are caused by mould. This is treatable, but something will have to be done to prevent the mould coming back. Mould likes damp, so maybe improving the ventilation or using a dehumidifier may be all that’s needed.

Other water damage: corroded (spalled) concrete blocks in the basement, bowed walls, rotting wood in the floors and a general musty smell. These may hint at serious plumbing problems.

Check the roof with a pair of binoculars and watch out for curling, chipping, cupping or rounded edges in shingles.

Power outlets: these are easily checked with a receptacle tester (see your local home improvement store) to see that the socket is wired correctly. If it isn’t, or if the polarity is reversed, this may mean the wiring was done by an amateur and it hasn’t been inspected. Avoid.

Plumbing: good plumbing should drain properly (fill the tub or the sink, then let it out to test it) and check the drain pipe. It should go into the wall, not into the floor. If it goes into the floor, it may need to have a vent added.

Sound like too much hassle? Just ask the Bahia Realty Group. We will provide you with a list of the best home inspectors in tampa Bay. We will always be there to help you make the right decision on your Tampa Real Estate purchases and investments.

Raul Aleman

More on Adding value to your Tampa property: conservatories

Jennifer Cook & Raul Aleman — Mon, 20 Oct 2008 18:10:00 GMT

Adding on a conservatory is a common and popular way to add value to you Tampa home. This is particularly the case if the home you have purchased is an older home that is darker. In some areas, adding a conservatory can also make the home warmer, but this doesn’t tend to be a problem in the Tampa Bay area serviced by the Bahia Realty Group.

A conservatory is basically a glasshouse masquerading as a room in your house, with walls and ceilings made of glass to let in sunlight. In days gone by, conservatories were popular places for growing plants that are attractive but are too large to use as regular houseplants. Conservatories make great rooms for entertaining, especially if they open into your lounge area. While some conservatories could be used as bedrooms, this isn’t very common, as the glass surrounds don’t give a lot of privacy. They can, however, be used as home offices.

The benefits of installing a conservatory is they add floor space easily and conveniently, and they let in light. They’re also a dream for gardeners who want the beauty of greenery indoors. The downsides of conservatories is that they can get very hot, especially in summer, and the large surface area of glass can be vulnerable to breakages from projectiles a bit more easily.

Jenn Cook

Adding value to your Tampa property: water features

Jennifer Cook & Raul Aleman — Mon, 20 Oct 2008 18:04:00 GMT

Many homes in the Tampa Bay area serviced by the Bahia Realty Group overlook the bay – and some don’t. However, it can be easy to have the soothing sound and sight of water in your property even if your place doesn’t have a view of the bay (or else you can contact us to find a property on our listings that does). Adding a water feature into your yard/garden area is a way that the do-it-yourself (DIY) enthusiast can add value to a property.

A water feature is different from a swimming pool, although if you want to get technical, a pool is a feature that includes water! A water feature is more aesthetic. Common water features include fishponds and fountains. These can be installed by DIY enthusiasts as a great weekend project, or you can get a pro landscaper to do it for you.

The important things to bear in mind are (a) how you are going to keep the water fresh – stagnant water is very off-putting to a prospective buyer, and (b) safety. It is possible for a child to drown in 30 mm of water, so you may want to fence off the water feature area – or have anything more than an inch deep up high where a child can’t fall in (e.g. a fountain).

Fountain units can be bought at Tampa home and garden stores. These recirculate the water, allowing it to keep moving and keep fresh. You can buy plain spouting with a pump that you can arrange over rocks for a more natural look, or you can get fancier ones set in statuary.

Fish ponds also need a pump to keep the water circulating so it does not become stagnant. You will also need fish and water-plants to your fancy. Goldfish and water lilies are classic favorites, but turtles are also popular – make sure that turtles can climb out of the water to sun themselves.

Jenn Cook

Ups and Downs of Tampa Real Estate

Jennifer Cook & Raul Aleman — Wed, 20 Aug 2008 21:58:00 GMT

If there’s one thing I’ve learned through all my time in the real estate industry is that everything has its ups and downs. What goes up must come down – and what goes down must come up, even if you have to wait a while.

Now, if you’ve been one of the many people who have bought Tampa investment properties with an eye to selling it later at a profit, you may be wondering what’s next, seeing as property prices are going down. Yes, we’ll try and sell your Tampa home at the best possible price in today’s market if you list with us. But it could be a wise time to “hold your horses” and wait for things to settle down. All investments fluctuate in value, after all.

But now is the perfect time to see what you can do to improve your investment property and increase its resale potential. You probably already know all the old methods such as renovating kitchens and bathrooms, and redecorating. But what about the outdoors? Consider what you can do with the grounds to increase value. Think beyond the white picket fence and a row of flowers around the porch - get creative with the gardens, sheds and more (sun porches? shade trees? pools? play areas?).

Mind you, there is more you can do with an investment property than sell it on. How about holding onto it and renting it out? Not sure what to do here? Talk to us today and we’ll help you get started.

Raul Aleman

Tampa Foreclosure Sales

Jennifer Cook & Raul Aleman — Wed, 20 Aug 2008 21:51:00 GMT

It’s one of the unfortunate signs of the times. In May, foreclosure filings went up 50%. That’s a lot of houses, and the Bahia Realty Group got to handle our share of Tampa foreclosures & Tampa short sales. While the powers that be are racking their brains as to what can be done to stem the rising tide of problems, we’re hard at work to make the sales – and not just foreclosure sales, either.

However, we are experts in working with buyers from overseas, as the Bahia Realty Group takes care of all aspects of buying and managing investment properties for buyers and investors from other states – and other countries. Because no matter what the economy is doing, the Tampa Bay area we service still has all its advantages: climate, amenities, attractions, etc. etc. In fact, if you are an overseas buyer, now is a great time to invest in Florida properties!

But what about those in Florida? Nervous about what the market is doing? Maybe selling up and downshifting is an option for you. The Bahia Realty Group will work with you and for you to find the best price for your old home and help you find a new property that will be more manageable payment-wise.

Raul Aleman

Earthship Florida near Tampa Bay

Jennifer Cook & Raul Aleman — Mon, 18 Aug 2008 15:45:00 GMT

Earthship Florida

In Manatee County, builders, architects, environmentalists and many, many others are all coming to have a look at the Earthship Florida project initiated by College Green Campus, as an earthship home is built – Florida’s first. As part of the busy Bahia Realty Group team that serviced the Tampa Bay area, I’m fascinated by this new type of housing. Who knows – maybe we’ll start seeing these homes on our listings before long? We’ve certainly got the bare land blocks that might be suitable.

One of the intriguing things about earthships is how they use water. Earthships are designed to be self-sufficient, so it’s not surprise that they use rainwater for all the household needs. But that’s not all. Earthships are designed to recycle and treat water so it can be used again and again – up to four times for greywater. Part of this treatment program includes a “jungle room” where plants help to purify the water (yes, it’s got filters and so forth, too). If you like houseplants, you’ll love the jungle rooms in earthship homes.

If you’re curious about what happens with toilet waste, it depends on the design of earthship. So far, I’m not sure which sort the Florida Earthship uses, but both designs have no environmental impact and don’t taint the water system. One design uses a composting toilet, and the other sort uses solar energy and parabolic mirrors to reduce anything noxious to bacteria-free ash. Amazingly, it’s all odor free. What you do after that is up to you, but most often, it goes into the garden – back to nature where it belongs.

The Earthship Florida project began construction on June 15^th

I can’t wait to see the first Earthship home built in Tampa Bay!

Jenn Cook

A Unique Ship in Manatee County

Jennifer Cook & Raul Aleman — Mon, 18 Aug 2008 15:43:00 GMT

There’s a new ship in Manatee County. No, not a fancy cruise liner come to one of the ports in Tampa Bay, but an Earthship. An earthship? No, this isn’t some new type of NASA project, but it’s a very clever design of home that makes the most of recycled materials and solar energy.

An earthship home is designed to provide all the warming and cooling needs for people to live in, generate electricity, catch all the water needed for household use and produce no waste – including no waste water. We’ve seen a lot of self-contained units on our listings at Bahia Realty Group, but we’ve never seen anything like this before (not that this earthship home is on our listings – but if you’re interested, you may be able to find a bareland block that’s suitable for building your own). An earthship home is also designed to be easy to build and maintain – every homeowner’s dream!

Now, earthships use a construction material for the load-bearing walls that is easy to obtain, reists fire and termites and doesn’t deteriorate, as well as being well able to insulate the living area, whether you need to keep the warmth in (as in colder climates) or out (like we do in balmy Florida). What is the wonder material that they use? Recycled car tyres filled with rammed earth, and that earth comes from the building site of the earthship home itself.

I’m going to be watching that building site very closely!

Jenn Cook

Tampa Bay Real Estate Market Promising

Jennifer Cook & Raul Aleman — Mon, 30 Jun 2008 13:30:00 GMT

Everyone knows that the Real Estate market will eventually recover. After all cycling is a normal part of the economy. But Tampa Bay seems to be ahead of other areas when it comes to recovery. Tampa Bay Florida real estate seems to be gaining momentum. Just look at some of the recent stats:

In Feb 2008, the median sales price was $194,000 and in March 2008, it was $195,300. Perhaps not a large change but certainly a move in the right direction. For sellers it may mean you’ll be able to breathe a sigh of relief soon as your homes begin to once again reflect their real market value.

But for buyers, it means it’s time to wake up and pay attention. If you have been fence sitting trying to decide if it’s the right time to buy, you need to make up your mind to commit to that purchase because if you don’t you could find yourself paying more in asking price and interest rates.

The market doom and gloom has been going on long enough and it’s due soon for a positive change. Tampa Bay, has been affected as much as other cities in Florida, but it’s likely to also rebound much faster.

Jenn Cook

Changes To VA Loan Program Benefit Tampa Florida Real Estate

Jennifer Cook & Raul Aleman — Mon, 30 Jun 2008 13:07:00 GMT

Recent changes to the VA loan program could benefit Tampa Florida real estate. In fact, if you’re a veteran and you’ve been considering buying a home, it would pay for you to have another look at the program.

Veteran loans can now account for 100% of the financing. The loan limits have also gone up. For most regions, they are around $417K and they go right up to $626K for some areas. Those numbers will actually let you buy a very nice house.

Who qualifies for the VA loan program? Anyone who is active in the military, retired from the military, in the National Guard, or in the Reserves.

The VA program puts limitation on the type of house they’ll finance and you are required to live in the house. There isn’t any money available for investment properties, rather focusing on providing homes to veterans.

You will be required to prove your income. The good news is they are very lenient on what your credit rating looks like. However, your payment history is important to them and you must have served for a minimum of 2 years.

A VA loan differs from a traditional mortgage. Work with a professional Tampa Mortgage broker who knows the ins and outs of VA finances.

If you qualify for a VA mortgage and you’d like to own a home in the Tampa area, don’t delay. You and your family deserve to own a home. Take advantage of this program while you can.

Raul Aleman

No Money Down Mortgages In The Tampa Bay Area

Jennifer Cook & Raul Aleman — Mon, 30 Jun 2008 13:02:00 GMT

For those strapped for cash for a down payment but comfortable that the actual mortgage payment won’t be a burden, you’ll be happy to know that the market shift has caused the FHA loan program to change. It could be the answer you.

You’ll need to talk with a mortgage professional but it appears the FHA loan program is going to allow the seller to pay 3% of towards the down payment and 3% towards the closing costs.

If you’re wondering why a seller would pay any of the costs that would normally be associated with the buyer, it’s because there are an awful lot of houses on the market in the Tampa Bay area and not nearly enough buyers. That means there are many sellers that are highly motivated. Those motivated sellers would be happy to contribute 6% if it meant their house would be sold.

The key to making this work is working with an excellent realtor and an excellent mortgage professional. It’s a time where creativity can go a long way. It can be the difference between being a renter and a homeowner.

Tampa Bay area under normal economic times is a highly sought after area. If you’re able to enter the market now, when the economy turns around you’ll actually be sitting in an excellent financial position with equity already building in a home that will be worth more.

If you’ve been considering buying a home, why not talk to a Bahia Mortgage professional about the changes to the FHA loan program.