Chris Hounchell REALTOR

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Award-winning Florida real estate Broker PROUDLY SELLING IN PINELLAS, HILLSBOROUGH, PASCO, MANATEE & SARASOTA COUNTIES since 2004.

Flood Safety Tips

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Flooding is the most common, most destructive, and most costly natural disaster on Earth. It effects a wide range of areas and flash floods can happen anywhere. With such a destructive force, it can seem impossible to protect yourself and your property for the wrath of water but there are steps you can take.

Before a Flood

Before flooding is ever an immediate concern you want to evaluate your family’s proactive response and proactively protect your property. Your family should have an emergency evacuation plan in place. This plan should include several ways to safely leave your home and immediate neighborhood and a final destination. For your property, you should have your property examined to see how water flows and if necessary make the necessary repairs and upgrades to ensure water flows away from your home. If you live in a floodplain you will be required to obtain flood insurance. Flood insurance is available to almost any consumers seeking it, including people who rent.

Threat of a Flood

Floods can happen quickly, especially flash floods. It’s important to be aware of the situation should your area fall under a flood watch. During a flood watch, it’s a good practice to remove or secure any items outside that could be dislodge by flood waters. You should also locate your bag of first aid and emergency supplies and secure it somewhere you can readily access it. Some municipalities will instruct residents to disconnect their electric and/or gas services at the breaker or main valve if the threat of flooding is imminent.

Flood Safety Tips

During a Flood

Adhere to all instructions by emergency responders and law enforcement. If an order for evacuation is placed for your area follow it. While evacuating do not drive or walk through standing water. According to Ready.gov, just six inches of moving water can knock over an adult and one foot of water can sweep away a car. Many of the fatalities attributed to floods are people who attempted to cross water and were overcome. If you are in a structure that has been inundated with water, do not touch or use any electrical appliances; if it isn’t safe to leave the structure, go to the highest point and make your presence known to first responders by using a piece of clothing or other material to signal for help.

After a Flood

The threat to safety is not over immediately after the waters begin to recede. You should not return to your property until instructed to do so by law enforcement or emergency responders. Likewise, do not assume that drinking water is safe until informed as such. Bottled water is your safest option for potable water but boiling it is also an option. You should still avoid walking or driving through standing water as it may contained harmful bacteria and raw sewage, it may be full of debris, and the ground underneath of it may not be sturdy. If your property has been damaged by a flood, take pictures and document all that has been damaged for insurance purposes prior to discarding it.

In Florida, residents are potentially at risk of flooding from hurricanes and weather systems that inundate the area with rain. Take the necessary precautions before, during, and after a flood to ensure that you and your family remain safe.

VA Loan FAQs

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Tampa is the home to MacDill Air Force Base, which hosts operations for Central Command (CENTCOM). With such a large current and former military presence in the area the question of using a VA loan comes up quite often. We’ve gathered up the most frequently asked questions related to VA loans and provided you with the answers you want and need.

What is a VA loan and do I qualify?

A VA loan is a loan guaranteed by the Department of Veterans Affairs and financed through an approved lender. It can be used for the purchase a property intended to be used as a primary residence.

To qualify for a VA loan, you must meet basic service requirement in active duty, National Guard, or Reserves. The Department of Veterans Affairs determines each individual’s eligibility but some of the basic requirements include one or more of the following:

  • 90 days or more of active, consecutive service during wartime;
  • 181 days or more of active, consecutive service during peacetime;
  • 6 years or more of service in the National Guard or Reserves;
  • you are the surviving spouse of a service member who died in the line of duty or due to a service related injury.

If you are eligible, the VA will provide you with a Certificate of Eligibility (COE) that will certified to a participating lender that you are eligible to receive the VA loan benefit.

VA Loan FAQs

Who can give me a VA loan?

Not every lender is certified or willing to finance a VA loan. While there is no complete list of VA approved lenders, to determine if your lender is able to assist you, you can ask three questions:

  • Do you offer a VA loan product?
  • Do you underwriter locally or do you have a third party underwrite?
  • Are you LAPP (Lender Appraisal Process) approved?

Any lender who offers VA loan products should be able to underwrite their loan within their organization and utilize the LAPP system, which helps expedite your appraisal process and general loan processing.

Your Realtor or attorney are good sources of VA lenders.

Why should I use the VA loan instead of FHA or a conventional loan?

As an eligible service member, you should use your VA loan because it is a benefit that you earned through your military service. To not use it would be to a lose a hard earned benefit.

Similar to FHA guaranteed loans, the VA loan benefit helps buyers by requiring little to no money for a down payment. Unlike FHA and conventional loans, a VA loan does not require PMI; this helps keep the monthly mortgage payment at an affordable amount. The VA loan program allows borrowers to purchase a home up to $424,100¹.

I heard Sellers don’t like Buyers who intend to finance with a VA loan?

There is a stigma with VA loans being difficult to process and close but recent updates to the process have made many of those issues a thing of the past. The VA does require any noted repairs on the home inspection be made prior to final approval. Sellers can feel like they are being “nit picked” but the VA is insuring the loan and wants the best possible asset for its borrowers. The VA requires the appraisal to be completed by their appraiser. Just like any other purchase, if the appraised value does not match or exceed the sales price, the price needs to be decreased or the Buyers must make up the difference in cash. Closing timelines are comparable to other loan products.

Will I have to bring money to closing with a VA loan?

Yes, you will need to bring money to the closing table. There are “allowable” and “non-allowable” costs that the Buyer is obligated to pay at closing. For “non-allowable” charges, another party must pay the amount due. There is no prescribe responsible party, it can be the Seller, the agents, or the lender. What the Buyers are responsible for at closing in addition to the allowable charges is the funding fee. The VA requires every borrower to pay a 2.15 percent of the total loan amount if the down payment is less than 10% and 1.15 percent of the total loan mount if the down payment is 10% or more.

Can I reuse my VA loan benefit?

Yes, you can. If you payoff a VA loan in full, you regain your full entitlement and can purchase another home with the benefit. If you don’t use your full entitlement on a property and find yourself needing to move, you can rent out the first property and use your remaining entitlement to help finance your next home. It should be noted that after the first closing, any additional closing require a funding fee of 3.3 percent of the total loan amount.

We hope we’ve shed some light on the VA loan benefit and process. If you have specific questions please reach out to us and we’ll be happy to help.

¹ This figure is as of 2017 and may be higher in some high value areas.

Discover Snell Isle

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Little did C. Perry Snell know when he began developing his community in 1925 on a muddy mangrove swamp, Snell Isle would become a much sought after place to live in the Tampa Bay metro area. His designs included Italian and Spanish architectural styles and peaceful environments. Today, a memorial stands in Snell Isle Park honoring his foresight.

Snell Isle’s boundaries start at the Snell Isle Bridge, which extends easterly along the shoreline to the Shore Acres Bridge, then along the shorelines of Eden Isle and Snell Isle Estates, 34th Avenue and Locust Street to Coffee Pot Bayou.

Own a Piece of History

Many of today’s homes date back to the 1920’s, some remodeled over the years, others exactly as they were originally constructed. In recent years, original houses, many directly on the waterfront, have been replaced by large, luxury homes priced in the millions. Despite the changes over the years, Snell Isles continues to offer buyers a wide spectrum of styles and price
ranges, all within a five-minute drive to downtown St. Petersburg, offering distinctive shopping, community parks, and a vibrant arts & entertainment scene. Over eighty (80) percent of the homes in the community have waterfront views or access.

Discover Snell Isle

Today In Snell Isle

The Snell Isle Property Owners Association is a hands-on nonprofit corporation that carries on Snell’s vision and protects the heritage of the area by guiding improvements and maintaining its unique way of life. The Association is responsible for recently restoring Snell Isle Park Plaza, complete with meandering walkways, original European statuary, and artwork Snell brought back from Europe at a cost of over $1 million (in 1920’s dollars!).

Snell Isle is home to two churches, two schools, and a thriving shopping center on Snell Isle Boulevard. The site of today’s St. Petersburg Women’s Club was donated by Snell in 1928 and continues to be an active community organization dedicated to preserving the character of the area. The Snell Isle Marina is a very active center for boaters and a popular destination for west coast Florida cruisers.

In short, Snell Isle, especially the Brightwaters Blvd. area, maintains its reputation as one of Pinellas County’s most desirable neighborhoods.

Editor’s note: This post was originally published in September 2011. It has since been updated and edited for clarity and cohesiveness. 

Should Military Members Rent or Buy?

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If you didn’t already know, there’s a large military presence in our area. Tampa is home to MacDill Air Force Base, which abuts the Tampa Bay. Approximately 15,000 personnel, mostly military, work at the base. That number doesn’t reflect the family members that live with service members. While the base does provide housing, for several reasons military members and their families sometimes choose or are forced to live off base. The question for most of these families becomes “Should I rent or should I buy?” Just like civilians trying to answer this question, it’s not a black and white decision.

Where are you headed?

As a norm, military members are moved around every few years. If your orders are for a short period of time (under a year), renting a home will probably be the best course of action.  If your tour is a standard three year time frame you have more flexibility. Many military families with school aged children worry about being forced to move houses mid-tour because the landlord wishes to sell or raises the rent higher than the family can afford. Buying a home would relieve that worry. Real estate should be considered a long term investment, though. If you are reassigned to another duty station in the future, you’ll need to have a plan to deal with the property you’re leaving behind.

Military Rent or Buy

What do the numbers look like?

There is a rising trend in self-sufficiency from renters of single-family, privately owned houses. Renters are expected to maintain the landscaping and make small repairs. You should consider if you’re willing to put forth money, time, and effort into someone else’s property. Additional points to consider are your financial position to shoulder the burden of larger repairs and maintenance that come with home ownership and your financial readiness compared to the market’s demand. There are also several markets that are reaching a tipping point where it is becoming less expensive to rent than to buy.

Undecided?

Renting can give you the luxury of “test driving” an area without committing further than the length of your lease. If you find that the area suits not just your immediate needs and wants but also your future plans, buying may be an option you want to explore further.

There are more factors that can go into your decision to rent or buy a home as a military member. A thorough understanding of the local market can go a long way and we suggest you speak with a licensed Realtor before you make any decision.

Night Life In the Tampa Bay Region

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Visitors and new and old residents alike may get wrapped up in all that Tampa and the surrounding areas have to offer during the day. There are the beaches, national and state parks, and camping. It can be easy to forget what the area offers for night life as well. We have places you’ll want to check out for a night out.

Straz Center For the Performing Arts

The Straz Center is a world class performance arts center located on the Hillsborough River right in Tampa. The center is host to entertainment ranging from Broadway shows to popular concerts to classic music  and opera performances. In addition to providing exciting shows for all interests, the center is home to three restaurants: Maestro’s Restaurant, Maestro’s Cafe (buffet style dining) and Maestro’s on the River (light fare). There’s also a coffee shop you can grab a dessert and coffee after the show. For a list of upcoming shows and more information visit: www.strazcenter.org.

Centro YBOR

Located in the historic Ybor City neighborhood of Tampa, Centro YBOR offers multiple options for night life including a movie theater, The Tampa Improv, and GameTime Mega Arcade. In addition to the main entertainment attractions, there are ten restaurants that range from fine dining to pub style. Check out their website for the latest events and deals: www.centroybor.com.

Night Life in the Tampa Bay Region

Ferg’s Live

A fun new addition to the Tampa night life scene is Ferg’s Live, an 8,000 square feet venue catering to the younger crowds. It host live music acts, has 60 flat screen TVs for a variety of sport events, and a restaurant that features fun bar fare. You can also host your private party at the venue. More information about upcoming acts and events can be found on their website: www.fergslive.com.

Hard Rock Hotel & Casino

The Hard Rock Hotel & Casino offers a day and night full of entertainment. The casino offers 24 hour table gaming and slot machines, the hotel features rooms & suites, shopping options, a spa, and multiple venues for musical and comedy acts. There are also fine and casual dining restaurants and bars and lounges where you can grab a drink or snack. For reservations, events, and more information visit: www.seminolahardrocktampa.com

Circo’s Speakeasy & Supper Club

Located along Tampa’s Bayshore Boulevard, Circo’s taps into Prohibition-era decor and drink crafting to bring its customers a unique experience. The decor is dark and comfortable and jazz & blues music plays softly over the club. The club also has a full sit down menu. You’ll need to call for reservations and the day’s password. More details can be found at www.cirostampa.com.

The Tampa Bay area offers a wide range of night life options for whatever your mood style is. What’s your favorite place for a night out?

How to Ensure a Smooth Rental Turn Over

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There will come a time for every landlord to turn over their rental property from one tenant to the next. You would think it would be as easy as collecting the keys from the former and giving them to the latter but that’s not the case. Proper planning and proactive actions can go a long way in making a rental turn over a smooth and efficient process.

Should I Stay or Should I Go?

Before ever considering further steps in a turn over plan, you, as the landlord, need to know if your current tenants are staying or going. Your lease will spell out the specific requirements for providing the opportunity for a renewal or for giving notice of non-renewal. If you’ve decided to not renew with your current tenants or they have decided to move on, put the specific move out date in writing. If you are not renewing your lease, send the notice via certified mail with a return receipt. If your tenants have given you notice, have them send it to you in writing with a signature.

Communicate

Provide your tenants with a copy of the move-in inspection report and a detailed description of the steps that need to be taken to help ensure they receive their security deposit back. Offer your tenants the opportunity for a pre-move out walk through so you can address specific concerns or needs for repair prior to their move-out. This lays out how you expect the property to be returned to you and gives the tenants the chance to meet those expectations.

How to Ensure a Smooth Rental Turn Over

The Move-Out

On the agreed upon day of move-out be prepared to meet your tenants at the property and complete a final inspection with them. Note any damages and normal wear and tear and have your tenant sign the list, just like they did for the move-in report. Make sure the tenant turns in all keys to the property, even those copies they made at their own expense, garage door openers, mailbox keys, and parking passes. Lastly, get their new mailing address so you can send back the security deposit or forward any future written communications to them.

Prepare For the New Tenant

Don’t waste any time getting the property ready for the next tenant. This can be the most costly point of turn over since a vacant house is a loss of income. The house should be cleaned from top to bottom and all repairs should be completed prior to a new tenant taking possession. If the former tenant left items behind, the landlord is responsible to remove them from the property and store them for a time and in a condition prescribed by local law. If you do change the locks, have extra copies of the keys made not only for the tenant but for yourself and your property manager.

Move-In Day

On the day your new tenants arrive, walk through the property together, make note of the current condition of the house, and both you and the tenant should sign the report. Be sure to deliver a copy to them as soon as possible. Explain how to operate the basic house systems and appliances, provide your contact information, and remind the tenant of any specific responsibilities related to the house, such as lawn maintenance, parking regulations, or pet rules.

Once you develop a turn over plan and stick with it you’ll find the process reduces the stress and time involved in seeing one tenant out the door and welcoming a new one in.

What Does an Eviction Mean For a Tenant?

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We previously discussed the effects and costs of an eviction for the landlord but we did not touch on the effects on the tenants. As we have said previously, most tenants enter into a rental agreement with the best of intentions and abilities to adhere to their responsibilities. Situations do arise though that can lead a tenant to eviction and an eviction does leave an impact.

What Can a Tenant Be Evicted For?

The most common reason for eviction is non-payment of rent but be aware that as the tenant, you can be evicted for failing to adhere to the terms of the lease including the number of persons living in the house, pets, and maintenance. If you are given notice to remedy a situation that violates your lease and fail to do so within the prescribed time, your landlord can being the eviction process.

Effects of Eviction for Tenant

What Happens During an Eviction?

Once a tenant fails to remedy a lease violation, the landlord will file a complaint for eviction with the appropriate Court. All of the tenants and known residents of the rental property will be served with notice. Defendants are given the opportunity to file a response to the complaint with the Court and the Court will review the answer. If the Court feels the answer can help resolve the situation without the eviction proceeding it may schedule a hearing to mediate. If the Court feels the answer is baseless or no answer is received, the Court will issue a judgment in the landlord’s favor allowing the landlord to hire the local Sheriff to evict the tenants. An eviction notice will be served to all the parties listed in the complaint; the notice will provide a date that the property must be vacated. If necessary, the Sheriff will forcibly remove the tenants from the property.

What Are the Lasting Effects of an Eviction?

A fully executed eviction will be reported on most credit reports and most landlords run not only credit reports but public records searches for court cases including evictions. Most states allow for eviction cases to expire from a person’s record after seven years. Potential landlords may be less likely to allow a person with a previous eviction on their record to rent from them. The landlord that executed the eviction may also sue their former tenant for unpaid rent and any damage that was not covered by the security deposit.

An eviction is a costly event for both the landlord and tenant. Not only is the immediate concern for the tenant lawyers’ fees and finding a new place to live but also facing the risk of a collection judgment and paying higher rental payments and security deposits until the eviction expires from the public records.

The Cost of Eviction

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One of the most feared situations when it comes to managing a rental property is an eviction. In a perfect world, tenants would pay their rent on time every month, adhere to the terms of the lease, and leave your property in better shape than they received it. Reality is far different. While most tenants work hard to remain in good standing with their landlord, there are those in the minority that don’t. The cost of eviction is not inexpensive for a landlord.

Are You Able to Evict?

Before ever filing a complaint in Court, you’ll need to determine if you have the legal right to file an eviction. Unpaid rent is not the only reason to evict, although it is the most common cause. If you’re looking to evict a tenant because they have unauthorized animals in the property or additional tenants that exceed the lease or public code allowances you need to see what remediation your lease and local & state laws require before proceeding with an eviction. Often you’ll need to provide written demand for payment of rent or resolution to the dispute to the tenant with a reasonable timeline.

The Cost of Eviction

What Does an Eviction Cost?

There’s no one-size-fits-all price tag for an eviction. Sometimes a landlord will get “lucky” and a tenant will abandon the property and not contest the eviction proceedings other times a tenant will fight to the bitter end. The cost also varies based on how much back rent the landlord is owed, attorney’s costs, and Court filing fees. There’s also the question of what state the property is in once the eviction has been completed. If the property requires major repairs in order to to make it habitable for the next tenants; those costs coupled with the time lost on rent can also add up quickly.

A brief summary of eviction costs include:

  • $500 – attorney fees
  • $50-200 – Court fees
  • $150 – rekeying costs
  • $1,500 – repairs and cleaning fees
  • $4,500 -3 months of lost rent after eviction was completed

Total: $6,850

Can You Recoup Your Loss?

With the appropriate evidence (e.g. a lease, late notices, demand letters) a landlord can file a complaint in small claims Court for a personal judgment against the former tenant. If the landlord secures a judgment they can attempt to collect the unpaid rent and charges for damages (if any) but roughly only 17% of landlords who seek out this option ever see repayment.

There’s no solid guarantee that the tenant you thoroughly screen isn’t going to default on their rental obligation. But adhering to the lease (late fees and proper notice) and keeping communication open with your tenant can alert to you problems before they escalate and can protect you and your investment in the long term.

Source: https://www.landlordology.com/cost-to-evict-a-tenant/

How to Screen Potential Tenants

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The process of obtaining a tenant for your rental property seems straight forward. You need to market the property, check out the potential tenant, and then sign the lease. But what exactly should you do when you’re checking out your tenant? Is a credit check enough? Let’s walk through how to screen potential tenants.

Check Everyone

Your tenant application should be filled out by every adult 18 years of age and older. This works to your advantage for several reasons including obtaining every adult’s contact information and making each adult liable and responsible for the lease obligations. Children and those adults with incapacities are exempt for background checks, however. Don’t request a simple credit score but rather a full credit report with details for both positive and negative factors. This will help you understand any patterns of late payments and delinquencies.

How to Screen Potential Tenants

Credit Reports Alone Aren’t Good Enough

It seems like a reasonable assumption that if a potential tenant has failed to make payments on their financial obligations they’ll have a less than desirable credit score. That may be true but what if a previous landlord didn’t report to the credit bureaus or the tenant has worked to clean up their credit score? As part of your research, you should search the local (in relation to their previous addresses) court records for eviction proceedings. You’ll also want to run a criminal search for each applicant.

Make the Calls

Asking for references does you no good if you do nothing with the information. You should verify current employment status as well as the likelihood for continued employment. Contact other landlord references to confirm that timeliness of payments and if the tenant’s behavior was in line with the lease.

A thorough tenant screening puts you in the best position possible to decide whether to approve or decline your applicants. You don’t need to do all the leg work yourself though. There are services you can order the necessary credit, criminal, and eviction reports and have them delivered right to your inbox. All you’ll need to do is make the phone calls to confirm employment and prior rental history. If a potential tenant is hesitant or refuses to submit to the screening process you’ve put in place should be an automatic disqualification for consideration.

Is the Neighborhood Family Friendly? 4 Signs to Look For

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If you’re on the hunt for a home to raise your family in, the idea of a “home with a great school district” can leave a lot to be desired. Great schools aren’t always the best indicator of a family friendly neighborhood. While a home may be in a highly rated school district it may not meet the needs of a family with children. What should you look for when searching for a home in a family friendly neighborhood?

Location

A family friendly neighborhood will be within close proximity to amenities such as playgrounds, sports fields, and schools. The neighborhood will also be close to things like grocery stores and child care options. While the neighborhood may be further away from parents’ jobs, it provides much of the needs of the family as a whole within a short distance.

Safety

Keeping your children safe and giving them the opportunity to enjoy their neighborhood is important. You’ll want to be mindful of the amount of traffic on the street you’ll live on and also near locations such as schools and playgrounds. While your children may be young at the time of your purchase, they’ll eventually grow older and will start to do things independently so sidewalks and street lighting are important. You’ll want to make sure their routes are as safe as possible. Crime statistics can be found through City-Data.com and Meghan’s Law reporters can be found through Florida’s searchable database.

Is the Neighborhood Family Friendly?

Community

It’s one thing to live in a neighborhood but it’s quite another to have a community. When you look for a house, you’ll want to get a feel for the neighborhood. Talk with the owners about their opinions and experiences but also reach out to those people who will continue to live nearby. If they’re willing to answer your questions, ask them what they love about the area and what they don’t like and if they feel it’s an overall family friendly neighborhood. Don’t take one person’s testimony as gold, talk to a few neighbors, if you can, to get a feel for things.

Schools

Earlier in this post we said great schools aren’t always a best indicator of a family friendly neighborhood but they should still be taking into account when deciding on a neighborhood and a home. There are multiple sources that “grade” schools with either a number or letter but don’t rest your whole decision on that one designation. You should investigate the school for the things that are a priority to you; whether that be diversity, test performance, or special curriculum offerings.