real estate agent

Buy a Home and Customize it with Specialty Financing

If you’ve been house hunting recently you’ve probably noticed a lack of turn key homes available; unless you’re working with a hefty budget.  



If your budget is under $300,000 the inventory of updated homes leaves much to be desired. Also, everyone has difference tastes, so why pay for upgrades that someone else added that you don’t even like? Well, you don’t have to settle! You can have a house with great bones AND customize it to fit your needs all in one loan. 



We’ve all seen the house that’s the right price, location, you can already picture spending summers in the backyard but it has 20 year old wall to wall carpet that you just can’t live with. In the past you would have two options, pay out of pocket to replace the flooring or live with it until you can upgrade. You no longer need cash on hand to update a home and make repairs. That’s right, you can wrap the cost of new flooring, a kitchen, roof or nearly any other upgrade you can imagine into your mortgage. 



I’m very familiar with these products because I used the 203k to purchase and customize my own home. Our home, built in 1907, was gutted to the studs and sat empty for nearly 20 years. See a before & after photo below. You can also read more about we found our home here. Our home was quite the project and I gained SO much knowledge that will help guide you through the process of specialty financing. It may sound scary and complicated, but it doesn’t have to be. If you choose this route, you can be confident that my expertise and experience can help simplify yours.  

I partner with Homebridge, a trusted expert in specialty financing. They have multiple options to pay for repairs and updates on a home. Whether you need $5,000 or over $100,000, my mortgage partner Pete at Homebridge will help match you to a loan program that is the best fit. 



Even new construction limits your material options. With specialty financing, the possibilities are endless! If you’re looking to buy and would like to customize your home, I’d be happy to discuss options (click here for contact info) to help you make a wise investment and build equity.

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Why a 30-Year Mortgage May Not be Your Best Option

Before purchasing your next home it’s important to ask yourself, “how long do I plan to live in this house?” 30-year fixed rate mortgages are more popular than their 15 year and adjustable rate counterparts due to consistent payments throughout the life of the loan. However, a 30-year mortgage may not be your best option. 



If you are a first time homebuyer or life circumstances such as a job transfer are in the near future, an adjustable rate mortgage could be a better fit. Adjustable Rate Mortgages (ARM) usually are available so that the interest rate adjusts every 3, 5, or 10 years. The rates usually adjust 1-2% and have a 6% rate cap for the life of the loan. If you know you’d like to purchase a new home or will be moving within 5 years, a 5 or 7 year ARM may offer a lower interest rate than a 30-year fixed mortgage. 



If you do decide to take the 30-year route, you can still save on interest by paying biweekly. If your mortgage payment is normally $1800 a month, instead of paying monthly pay $900 every two weeks. Doing this will result in one extra payment a year which saves you so much in interest that you can pay off a 30-year mortgage in only 23.1 years!



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There are many flexible options for mortgages today. I can connect you with a trusted lending partner that will discuss your options and help you find the mortgage that will best suit your needs. 

Fire Prevention: Protect your Home & Family

October 7-13th is fire prevention and safety week. After talking with local fire fighters, I’ve put together these tips to help keep your home safe and fire-free.

Check smoke alarms at least every 6 months. 4 out of 5 fire related deaths are caused by house fires. Check that the smoke detectors work properly but if your smoke detector is more than 5 years old, consider replacement. Properly functioning smoke detectors will give you 1-2 minutes warning to be able to get out of the house safely in the event of a fire. Smoke alarms should be placed in every bedroom and on each level of the home. 


Keep a fire extinguisher in the kitchen. Cooking left unattended is the leading cause of house fires. If you’re cooking, keep watch. If you’re roasting or baking be sure to check your food often. Even while watching, flareups can happen. Keeping a portable extinguisher in the kitchen can help prevent a disaster. 


Have a Fire Escape Plan. You should have two exit options from every room. If you have young children, have two routes for how you will evacuate them from the home. Have a meet up spot outside where everyone will meet after they exit the home. It also helps to practice your fire escape plan. 


Don’t forget the garage. Garages are often used as a multipurpose room. Storing gas, oil, paint and other flammable items near electrical items can be a fire hazard. Combining these fire hazards with Christmas decorations and old memorabilia can cause fire to spread rapidly from a single spark. Take caution by storing flammable items away from electrical outlets, hot water heaters, washers and dryers.

For more information or educational activities for kids visit the National Fire Prevention Association website.

This Design Trend is Making a Comeback!

What image conjures up in your mind when you think of wallpaper? Flashbacks to Grandma's house? Maybe, it reminds you of a time you spent hours and hours scraping floor to ceiling putrid yellow dated wallpaper that was busy enough to knock you off your step stool. 

Wallpaper used to be a turn off and decades went by where no one wanted to bother with it. However, with new creative options (besides the ole sponge and water bucket routine) wallpaper has made a glamorous comeback!

Feature walls have become a popular way to add texture and visual interest to any room. If you're hesitant about using wallpaper, try a feature wall. It requires less time and money; not to mention effort to remove it if you change your mind in couple of years. 

Bold patterns tend to look cleaner as a feature wall, paired with a wainscoting or chair-rail. No need for floor to ceiling busy patterns. 

If you're currently renting or not quite ready to commit to wallpaper, there are also some nice peel and stick or decal options. Check out Rocky Mountain Decals they have some really beautiful options with loads of feminine flair! 

My daughters room has a very odd shape, it contains a dormer and the ceiling is sloped. It makes the room feel small. However, I applied this wallpaper on the tallest wall in her nursery which draws the eye up and made the room feel bigger. This was the week we brought her home...she just turned ONE! Someone hold me!

 

This wallpaper is from Anthropologie. It's quite expensive which is one reason I only did a half wall, the lower half is board and batten....oh and I bought it when it was 20% off!

If you're growing tired of a space try sprucing it up with wallpaper. Below are examples of great uses from wallpaper. If you're thinking of selling and would like expert advice on how to prepare your home, drop me an email.  It would be my pleasure to serve you. I hope you've gained some inspiration, thank you for reading! 

 

Don't Become a Victim on Your Next Real Estate Transaction

By: David H. Rosenberg, Esq.

 

Technology has made a significant impact in the real estate industry; both good and bad. Unfortunately, as a result of the increase in technology, the real estate industry is being heavily targeted by cyber-criminals.

 

A criminal will often hack into the email of a realtor and monitor correspondence to a transaction. As the transaction nears closing, the criminal sends what appears to be an email from the buyer’s realtor or settlement agent, including substitute wire instructions on where the buyer should send his monies. The substitute wire instructions are for the criminal’s account rather than the account of the closing agent. Once the funds are wired, the criminal quickly withdraws the funds or moves them off-shore.

 

Therefore:

1. Realtors, attorneys and settlement agencies should utilize secure email systems.

 

2. Closing packages & nonpublic personal information should be sent encrypted.

 

3. Always confirm wire information via telephone, to a verified telephone number and

individual. Never rely on contact information contained within an email signature.

 

4. Always review and confirm the email address to which you are sending emails.

Criminals often use email domains which look substantially similar to those of the

parties to the transaction.

 

5. Remember that attorneys and settlement agencies do not change wire

instructions/banking information mid-transaction.

 

6. Remember to never wire to any account on which the name does not match the

name of the intended recipient (i.e. ABC Title Company will have an account titled

ABC Title Company or something substantially similar)

 

7. Never click on links in emails which appear to be suspect due to ongoing issues with

malware, ransomware and viruses.

 

In the event that a wire has been sent as a result of the above, immediately contact the banks in an attempt to stop the wire as well as the local police and Federal Bureau of Investigations.

 

© 2018 David H. Rosenberg, Esq.

DHR LAW

2639 Fruitville Road

Second Floor, Suite 208

Sarasota, Florida 34237

(941) 361-1153