5 Red Flags That Your Dream Home
Could Mean Money Nightmares
Don’t think red flags always take a trained
eye to spot. Here are 5 you’ll probably see
for yourself once you know where to look:
1) FOUNDATION CRACKS: Don’t’ sweat
hairline cracks as they are probably the
result of minor settling. Same goes for
any crumbling you notice along the
corners of a concrete slab—usually just
cosmetic. But if you spot a crack that’s
1/4 inch or wider along the home’s
foundation, that could mean serious
trouble, including hiring an engineer.
The average cost for such a fix is nearly
$4,000, according to HomeAdvisor.
2) WATER DAMAGE: Water damage in
walls encourages mold growth and
rotting window frames. Always look for
gutters and downspouts that are in
good repair. Look carefully at the roof.
Missing shingles could mean a leaky
roof. Peek into each room’s corners,
where water damage may show up as
shadowy stains or spots. Musty smells
might mean mold has infiltrated the
home has had a recent facelift, always
ask your Realtor to see a record of the
renovations to verify that work was
done to code. If work was done without
proper permitting, it could wind up
being disastrous for the homeowner’s
budget down the road. *Con’t on back*
For all your Real Estate needs...
Sue King, Realtor®
Cell 407.492.9353
Market Conditions
Market Pulse is published each month by the
Orlando Regional Realtor Association and the data
represents all listings taken or sold by ORRA
brokers and is exclusive to residential property,
which includes townhomes, duplexes, single-family
homes and condos.
The inventory of homes on the market has
steadily dropped over the past 2 years by 2500
properties. So, the interest rates, still at historic
lows, are attracting buyers to an ever decreasing
number of homes. Prices have gone up
approximately 10% over the past year.
The number of days properties are on the
market before they get a contract is also at a 2 year
low - in the low 60s. Many of my listings over this
past year have had multiple offers, and many have
sold in the first 2 weeks on the market.
Days on the market or “DOM” is a good
indicator of a given neighborhood’s housing market.
Neighborhoods can be searched for their average
DOM. If you’re seeing 10 days or less on the market,
that’s a pretty telling sign of a heating up hood.
From a budget perspective, these numbers
can be especially key. The decline in the number of
DOM can occur way before the home prices actually
increase. Keeping tabs on DOM stats can help you
get in while the area is still affordable.
This is not intended to solicit property currently listed for sale.
6115 Linneal Beach in Bear Lake Estates
One of my newest listings is a beautiful home on
spring fed Big Bear Lake. This custom home
sits on a 1.5 acre lot and has almost 100 feet of
frontage. Over $100,000 in recent upgrades, the
home is gated, has an elevated deck and boat
slip and is in the Lake Brantley School District.
Five Red Flags, Continued
4) DECK DANGERS: Decks that are
outdated or improperly maintained might not
be structurally sound. Redoing the deck could
cost thousands of dollars. Keep an eye out for
loose rails or railings that are too low or widely
spaced. A good guideline: Rails should be at
least three feet tall with no more than four
inches between each, for the safety of small
kids. Also, soft boards may signal decay, while
any gaps or cracks where the deck meets the
building could mean the structure is starting to
pull away from the house.
Pest infestations can be pricey to quash, but
there are subtle cues that the home is hosting
unwelcome visitors. Little wings that look like
fish scales around the windows or doors (could
mean termites), egg sacs along baseboards (sign
of roaches) or small holes in walls and shredded
piles of newspaper in attics (nesting mice).
ALWAYS hire a recommended home inspector.
Baked Brie with Pecan Crust
1 Pack Castello Brie
3 1/2 tbsp. pecans
Several sprigs Parsley
1 egg—beaten
Salad leaves
Relish or Cranberry sauce
Cut Brie into four equal quarters. Place nuts and
parsley in a food processor or chopper and chop
until medium fine. Place the flour into a plastic
bag. Put the beaten egg and the nut mixture into
2 separate shallow dishes. Coat the cheese
quarters in the flour by shaking in the bag, then
dip into the beaten egg and finally toss in the nuts
so that all sides are covered. Repeat with
remaining cheese pieces.
Place coated cheese onto a lined baking sheet and
bake for 10-12 minutes until nuts are slightly
golden. Serve warm with the salad leaves and
relish of your choice.
Drizzle some maple syrup on the baked Brie for a
sweet touch.
Homestead and Portability
The deadline to apply for Homestead for the 2017
tax year is March 1, 2017. If you sold a home and
bought another (larger or smaller), you have two
years to apply for portability. My website,
KingofOrlando.com has all the portability info.
Competition Heats Up Among Home Buyers
Housing inventory in Orlando has declined
year-over-year for 15 straight months, driving
values upward, and causing buyers to become
disheartened by the competition for homes. More
important than ever to enlist the help of a Realtor.
Year End Tax Tips
Here are a few year-end tax considerations:
1) Defer income and accelerate deductions.
2) Maximize retirement plan contributions.
3) All charitable deductions of any amount must
have a receipt. Any individual contribution over
$250 must also have an acknowledgement letter
from the charity.
4) If ones income is near $200,000 or more, it is
highly recommended to do some tax planning.
Green, Dycus & Co., P.A. CPAs
205 North Elm Ave. Sanford, FL 32771
407-322-0561 www.gdccpa.net
Orlando in Top 10 Forecast
Realtor.com released a 2017 forecast for the Top
100 metros in both new and existing single-family
homes and condos. It ranked South Florida No. 71
with a sales volume increase of 4.17 percent and a
price increase of 3.98 percent.
By comparison, Realtor.com forecast sales growth
of 6.3 percent and price gains of 5.8 percent in the
Top 10 markets, in order: Phoenix, AZ;
Los Angeles, CA; Boston, MA; Sacramento, CA
Riverside, CA; Jacksonville, FL; Orlando, FL;
Raleigh, NC; Tucson, AZ; and Portland, OR.