(954) 547.4601

Rathe.S@EWM.com

Keeping a detailed list of all your belongs can be a lifesaver in the event of a disaster such as a hurricane or fire, or even in the event of a burglary. Without documentation your insurance company may not be willing to compensate you for all the lost items. A detailed inventory list can help you with your financial recovery. Please remember not to store this list in the home. If you have a safety deposit box you could consider storing it there. Provide a copy to a remote family member or friend. There are even websites that offer the ability to upload pictures of your home where you can then tag each item in the picture to compile a comprehensive inventory list. One such site is DocuHome.com. Another good way to inventory your home is to take a video of your home and your belongings. Don’t forget to open the doors and drawers to get all the valuables inside, especially expensive jewelry. Again, store the video outside of your home where you can have easy access if needed.

During the first half of 2011 Sunset Lakes had 43 single family homes and 5 townhomes sell through the MLS system. This is on track with the number of homes that were sold in 2010. The more shocking information is the mix of types of sales. During 2010 we saw regular sales accounting for the majority of all single family home transactions at 44%. For the first 6 months of 2011 we have seen the percentage of regular sales drop significantly down to just 37%. Short sales have remained fairly steady with just a slight drop from 34% last year to 33% so far this year. The more dramatic change is in the increase in foreclosures from 22% last year to 30% this year. Despite our efforts to help homeowners save their credit and take financial responsibility by doing a short sale, we are seeing an increase in people just walking away from their homes. The short sale really is a much better option for the owner, the bank, and the community. If you want more information about doing a short sale contact me at your earliest convenience. Unfortunately we have hundreds of homes in Sunset Lakes that are in some stage of foreclosure. Even if foreclosure proceedings have begun, its not too late to do a short sale. The vast number of foreclosures will continue to put downward pressure on our prices until we can eliminate the majority of them. If you know someone in financial distress please encourage them to call me and I will do my best to help them.

New on the market is this spectacular 3,800 square foot home under air!  Two-stories of luxury with 6 bedrooms, 4 bathrooms, gorgeous pool and 3 car garage.  As you enter the front door you will be welcomed grand style by a two story foyer, dining room and living room.  You will enjoy cooking in this gourmet kitchen with granite countertops, center island, large walk in pantry and eat-in area over looking the pool.  One bedroom on the main floor is perfect for guests, or an older family member.  Enter the staircase from two different sides, the formal living room or the family room.  The stairs join on a small landing with decorative woodwork.  Real hard wood is featured on the stairs and throughout the upper hallway.  Upstairs you will find an oversized master bedroom with a large sitting area, two huge walk-in closets, and a luxury spa bath.  In addition to this master is a second master suit with a private bath.  Throughout home are exquisite details including formal crown molding, decorative wood moldings in the formal areas, decorative woodwork on the staircase, and upgraded light fixtures.  The backyard has a large pavered patio surrounding a large pool and a built in grill area.  Yard is fully fenced.  Originally priced at $539,000 but quickly reduced to just $499,000 for a quick sale.  This home is gorgeous, make your appointment to see it today!  Located at 19362 SW 39th Street, Miramar, FL.  Call Sandra Rathe at 954-547-4601

There are numerous things that can go wrong in a purchase transaction that can cancel or delay the closing and some of these things are out of the buyer’s control. However, there are numerous things that are within the buyer’s control and we would like to suggest a few tips a buyer should “not” do when going under contract. By avoiding these mistakes a buyer can increase his/her chances of having a successful closing.

Quitting or changing jobs right before closing. A sure way to kill a deal is to quit or change jobs right before closing. Lenders will verify employment the day before or sometimes the day of closing to ensure a borrower is still employed with the same company initially listed on the loan application. If a borrower quits his/her job or accepts a new position with a different company then typically the homeowner will have to wait at least 30 days before being able to qualify for a mortgage loan.

Taking on new debt. It’s important not to apply for or take on any new store or credit card debt and installment loans. This means that once you apply for a mortgage loan do not go out and purchase a car, motorcycle, boat, etc.. or apply for a new credit card or store card. The lender is approving you for a mortgage loan based on your current debt which appears on your credit report. If you take on any new debt then this may affect your loan ratios and you will no longer be able to qualify for the mortgage loan. Most lenders may re-pull your credit right before closing to ensure that you haven’t taken on any new debt as well as make you attest to the fact in writing that you haven’t done so in the past 90 days.

Making large deposits. If you deposit any large sum of money (typically anything over $1k) into your checking/savings account then make sure you can source it. Lenders will want to see a paper trail of any large deposits going into your accounts. This can be difficult if you deposit a large sum of cash. The deposits need to be from a provable source such as a payroll deposit, an account transfer from another account, sale of stock, etc.. You are allowed a gift from a family member to use for the purchase transaction but the gift will have to be well documented. Lenders will typically require a gift letter from the donor, along with a copy of the donor’s bank statement to show available gift funds. You will also need to show receipt of the gift funds once they are deposited into your account.

If you or someone you know is getting ready to purchase or refinance their home and has questions in regards to the mortgage qualification process, please feel free to call me and I will connect you with a mortgage specialist.