Chris Hounchell REALTOR

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

New Year Audit

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Now that the whirlwind of the holidays has subsided, the beginning of the year is a perfect time to give yourself and your home an audit. A new year audit should provide you with a full picture of your financial standing and your home’s health, both of which are important as a homeowner. If you’re looking to enter the real estate market this year, an audit can benefit you as well; letting you know what needs improvement before you take the next step.

New Year Audit | Chris Hounchell

Your Budget

Take the time to review your income versus expenses each month. This will help you identify any trends in your expenses and help you budget accordingly for the next year. It allows shows you areas where you can reduce your spending. If you’ve paid off a debt this year, take that money and apply it to your next debt or roll it into your savings.

Your Goals

Take time to set goals for yourself this year. Do you want to sell or buy a home or save for a BIG vacation? Now is the time to decide what you’re going to work towards this year. Once you know what you want, you need to set up the plan for how you’ll reach your goal. If you’re looking to buy, work towards paying off debt, saving a down payment, and researching potential neighborhoods. If you’re aiming to sell your home this year, look around your home from an outsider’s perspective and make the necessary repairs and updates that will help you secure the best price for your property.

Your Insurance

Life is full of uncertainty. Take the time to review your homeowners (or renters) insurance policy as well as your life insurance policy. Make sure your property policy covers not only rebuilding costs but also injury and your personal possessions. Life insurance should cover at least six months’ worth of expenses for each adult in the home.

An audit doesn’t need to become a dreaded task. If you get into the habit of reviewing these items once a year and keep your records, you’ll better be able to predict your needs for future years.

What We’ve Closed in 2017

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2017 has been another great year as a Realtor working in the Tampa Bay region. As of today, we’ve helped our clients close on thirty homes. That’s thirty new beginnings! Today we’re taking the time to highlight some of our favorites and some of the unique properties that give our area it’s charm and character.

January

Central Avenue, St. Petersburg

We kicked off the year in a big way with this unique live / work property in the Edge District. The first floor featured street level retail space and the second floor condo was move in ready.


February

Stanwyck Circle, Tampa

We helped our Seller secure a Buyer for their sprawling open floor plan pool home in Tampa. Among the many upgrades and features, this home boasted a media room for entertaining and relaxing.

March

W Dale Avenue, Tampa

A bidding war erupted over this stunning three bedroom, two bath home on an oversized corner lot in Tampa. We helped our Seller secure the best deal possible.

June

Doral Drive – Tampa

This four bedroom, three bath home is quintessential Florida. The outside featured tropical landscaping. Other features included a pool and waterfront access.

August

Live Oak Terrace NE, St. Petersburg

We helped our Buyer search for a new home to call their own and this gem was the winner. With three bedrooms, two baths, this pool home features an open floor plan with distinct Florida architecture.

October

48th Avenue N., St. Petersburg

Our Seller had this house turn key ready. It featured three bedrooms, two & a half baths, spacious floor plan, and a bonus room.

November

4th Avenue S., St. Petersburg

Out latest sale was this two bedrooms, two baths corner PENTHOUSE in the Sage Condominiums. It featured sweeping panoramic views of Downtown and numerous building amenities.

Our goal for 2017 was to become YOUR Realtor and we accomplish that goal for many. Are you looking to buy or sell in 2018? We’d love to be your Realtor team to get you to that goal.

What Makes a Motivated Seller

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You want to sell your house that makes you a motivated Seller. Right? Maybe not. While every homeowner would love to sell their house for the listing price, or as close to it as possible, motivated Sellers are aggressive in their listing practices and willing to make a deal to get to the table as fast as possible.

Questions to Ask Yourself

Why is your motivation? Did you accept a new job offer or are you going through a life change such as a divorce or illness? Are your expectations for the sale in line with the current market? Are you physically able to get the house prepared to sell?

Motivated Is Not Desparate

Desperation is not a good selling point and it’ll become apparent to potential Buyers. While you as the Seller may be desperate you need to keep your anxiety in check and put forth a strong but inciting listing. If your listing appears desperate, Buyers and their agents may suspect something seriously wrong with the house and shy away from showings. If you do find a interested Buyer they may not be willing to make a fair offer to you, thinking they have you up against the ropes.

What Makes a Motivated Seller

The Price Is Right

Pricing is going to be one of the biggest factors in selling your home. If you’re truly motivated you’ll price your home competitively from the start. Your Realtor may even suggest aggressive price reductions at 30, 60, and 90 days. You also need to be willing to negotiate with a Buyer. Whether it’s on the price or concessions, be ready to make some kind of deal to get to the closing table.

 Get Ready, Stay Ready

A staged home sells faster than a non-staged home, according the National Association of Realtors. Whether you spend money on staging or do it yourself, keeping your house in that same condition every day is important. Operating under the assumption that a potential Buyer is going to walk through your home every day is the mindset you’ll need. You’ll also want to make your home as accessible as possible to showings. That means there should be little to no reason to decline or cancel a showing. And once you have an offer, make sure you have new living arrangements lined up and you’re prepared to move out as soon as possible.

While there is no wrong time to sell (or buy) identifying your motivations for doing so will help you achieve your desired outcome. White hot markets don’t always yield the biggest sales price and slower markets don’t necessarily mean a “for sale” sign will sit on your lawn for months on end. If you’re motivate to sell now, being enticing, flexible, and ready is the key to your success.

How to Prepare Your Home For a Showing

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You may have done some serious home improvement projects, hired a cleaning crew to deep clean everything, and staged your home like a professional in preparation for your home to be photographed for listing. But once those pictures are published and the sign is out front you still have to live in your home.  Real life is rarely ever as spotless as those listing pictures.  You want each of your showings to put your home’s best foot forward. That means making the house look like it did in those listing pictures each time a potential Buyer walks through the door.

How to Prepare your House for a Showing

It’s impossible to keep your home “show ready” every single day, right?  Wrong! You can and should.  A clean and orderly house allows for potentials Buyers to see the house – not your piles of laundry – and picture themselves living there. You don’t need to hire a live in house keeper though, just take small steps to keep the house clean and orderly all week.  Here’s how you can do it:

Daily Preparations

  • Sweep and mop floors; vacuum rugs and carpets.
  • Wipe down counters and fixtures in kitchen and bathroom.
  • Wash dishes or run dishwasher and put away.
  • Make beds.
  • Hang up coats and keep shoes, back packs, and sports equipment put away.
  • Put away toys at the end of the day.
  • Put mail away immediately; throw out or shred those items that you do not need.
  • Water the lawn and plants.

Weekly Preparations

  • Scrub the bathrooms and kitchen.
  • Dust furniture, blinds, and ceiling fans.
  • Wipe windows and mirrors with window cleaner.
  • Mow lawn and weed flower beds.

Immediately Before Showing

  • Use a laundry basket or large container to round up any loose items; hide the basket in your car until after the showing.
  • Secure personal effects, important documents, or other similar items.
  • Take out the garbage.
  • Close all cabinets and drawers.
  • Close toilet lids.
  • Open all interior doors.
  • Open blinds and curtains to allow in natural light or turn on the lights.
  • Make sure animals are crated or taken with you during the showing.
  • Make sure the outside of the house is clear of any debris or trash.

These lists seeing daunting but in reality they take only a few minutes out of your day and a few hours once a week to complete. If you have previously gone through your personal effects and purged items you no longer use or need, you’ll have even less to clean or move in preparation for a showing.

Editor’s note: This post was originally published October 2014 and has since been updated and edited for clarity & cohesiveness. 

Benefits of Selling During the Off Season

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School is back in sessions, the temperatures are cooling down (slightly), this time of year is known as the “off season” in real estate. Traditionally, real estate’s busy season is April through July, with many closings wrapping up by August. But what if you need or want to sell your home at a different time of year? Are you bound to accept a lower price? Maybe not. Let’s look at the benefits of selling during the off season.

The Competition

One of the very first things you’ll notice during the off season is the lack of inventory in the real estate market. That’s a great thing for any Seller. Fewer homes for sale means your listing will be shown to more often to potential Buyers. There will be fewer listings to distract Buyers and fewer options for them to choose from when it’s time to make an offer.

The Buyers

People searching for a home during the off season are serious and motivated Buyers. Maybe they’re moving because of a job or a life-changing event, whatever the case they are decided on purchasing a home now instead of waiting for their “dream” home, which may not even exist, to appear on the market. These types of Buyers may also mean you’ll have less showings, indecision, and demands on the Buyers’ part since they’re on a deadline. They’ll also be more willing to get to the closing table on time than a Buyer who may have all summer to sort things out.

Benefits to Selling During the Off Season

Your House Looks Great

The off season also ushers in the busy holiday season and many homeowner decorate according. Go ahead and decorate with a gentle touch. (Griwswolds need not apply.) Holiday decorations usually take the place of your every day items, such as photos and other personal items; which homestagers recommend you remove anyway when you list your home for sale. Fall colors or twinkling holiday lights can make your home even more warm and inviting than it already is.

More Time With Your Realtor

While every good Realtor will attempt to give your home undivided attention, the busy season and a packed listing inventory can make that more difficult. Now that the market has slowed down, your Realtor will have more time to create a customized marketing plan for your property and host more events like open houses and agent previews before the listing hits the market.

Have you ever sold a home during the “off season”? Would you do it again?

Contingencies: What Are They & Should You Accept Them?

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You’ve listed your house at a competitive rate, you’ve had multiple showings, maybe an open house, and finally a Buyer makes an offer. You’re house is on it’s way to being sold. Not so fast! When you sign the agreement of sale you’ll notice certain contingencies are in effect. It may want to make you run fast from this Buyer but contingencies are actually a common and standard practice in most home sales.

What is a contingency?

In real estate, the term contingency refers to language in an agreement of sale that allows for the contract to be voided, usually without financial consequences, if certain conditions are not met. Some contingencies are standard practice based on local custom and others are specific to individual agreements

What are some common contingencies?

Most boiler plate agreements of sale will have contingencies built in for things like termite and home inspections, financing, and appraisal. Most Buyers (and their mortgage companies) will want termite and home inspections completed on the house prior to underwriting a loan. The idea is that if a defect or issue is found in either inspections the Buyer can request for remedy or repair prior to closing. If the Seller cannot or refuses to agree to the request, the contract becomes null and void and the earnest money is returned to the Buyer. Similarly, if the Buyer is relying on a mortgage to purchase the property a financing contingency will be enacted. This contingency requires the Buyer to secure financing within a set number of days. If the Buyer fails to do so and an agreement cannot be reached between Buyer and Seller to extend the contingency, the contract is again null and void but in this case the Buyer may lose their earnest money. If an appraisal comes in below the agreed upon sales price and the Seller is unable to reduce the price, the Buyer may walk away and retain his earnest money.

Contingencies: What Are They & Should You Accept Them?

What are some unique contingencies?

The most familiar of the individual contingencies is the ability for the Buyer to purchase the property only after he has sold his current property. In this instance, it is up to the Seller to set a timeline for the Buyer to do so.

Recently, Buyers have been writing in contingency clauses for securing insurance for the property they are looking to buy. If an underwriter cannot be found or a policy cannot be written for a certain amount of money, the Buyer may call off the contract.

Should I accept a contingency?

For standard contingency like inspections and financing, most Sellers would be foolish not to. The only exception to this is if the property is listed for sale “as-is” or “cash only”. Most Buyers will require financing to purchase a property and most mortgage companies require thorough inspections of properties prior to furnishing funds and require the short windows of time to line up the appropriate vendors.

Other contingencies, like sale contingencies are ones that should give Sellers pause. It’s best to discuss the matter with your Realtor before making a decision. If the Buyer is attempting to sell their property in a red hot market, accepting a sales contingency may not be that much of a risk; conversely if the market is cold your property could be waiting in limbo for months before it closes. If you do accept a non-standard contingency be sure to write in language that allows for your property to continue to be shown to other prospective Buyers and if another non-contingent offer is made it can override the contingent offer in the first Buyer is unable to make a match within twenty-four to forty-eight hours.

Contingencies don’t have to spell disaster or even test your faith in your Buyer and the deal you’ve struck. Make smart and informed decisions when it comes to a contingent offer and know what you are and aren’t willing to deal with before ever listing your house.

What We’ve Closed in 2016

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It’s been a busy year for our team! We’ve help our clients buy or sell over forty homes this year and we’re still not done yet. We wanted to share some of our favorite properties that we’ve closed in 2016.

548 6th Street N., St. PetersburgWhat We've Closed in 2016

This home celebrated it’s 100th birthday this year in a big way: with a new owner! The classic bungalow style home is located in St. Petersburg historic uptown neighborhood. It features three bedrooms, two bathrooms, and many of the historical charms while remaining relevant with today’s lifestyle wants and needs.

3930 24th Avenue N., St. Petersburg

What We've Closed in 2016

We recently helped our Seller close on this stunning mid-century ranch home. Everything about this property was a homerun from the lush landscaping to the tigerwood floors inside, large master bedroom, oversized kitchen with granite countertops, and formal dining room.

What We've Closed in 2016

3930-24th-ave-exterior-2

9971 58th Street E., Parrish

What We've Closed in 2016

One of our most recent transactions, our Buyers are now calling this four bedroom Pulte property “home”. In addition to the four well sized bedrooms, this home also features a kitchen made for entertaining, custom touches like floor to ceiling bookshelves in the den, and sits on a preserved lot to guarantee privacy.

What We've Closed in 2016

9971-58th-st-exterior-2

6640 Park Strand Drive, Apollo

What We've Closed in 2016

This property was all about drama. From the moment you stepped through the elegant entry way you were met with dramatic flares such as a French doored office, a great room with twenty foot ceilings and a double staircase that led to a media room. The master bedroom was more like a suite with an enormous walk-in closet, dual vanities, soaking tub, and oversized shower. The home was located within the desirable Waterset Community which has lust-worthy amenities including community swimming pools, clubhouse, fitness center, and numerous trails.  It’s no wonder our Buyers were eager to make this their new home.

What We Closed in 2016

What We Closed in 2016

As you can see, our team has covered a wide range of home styles and an ever wider geographical area. If you’re looking to buy your dream home or sell your existing home in the near year, contact us and we’ll be happy to assist you in your endeavor.

Home Inspection FAQs

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As the buyer you’re not just going to sit back and wait for closing after you’re offer has been submitted and accepted. In addition to working with your lender to get your mortgage approved and setting up your movers, you’ll want to have your future home inspected by a licensed professional.  Below we answer the most common questions buyers have about what a home inspection is, why they should have one done, and how to find a qualified home inspector.

Home Inspection FAQs

Why have a home inspection?

A home inspection is in your best interest as a buyer and may be required by your mortgage underwriter.  Touring a home with your Realtor one or two times can only tell you so much about the house and only show you the things in plain sight.  A home inspector is trained to look at all aspects and systems of a house.  Once the inspection is completed, your inspector will provide you and the seller with a written report of his or her findings.  Depending on the terms of your sales agreement, you can then negotiate with the seller to have necessary items on the report repaired or replaced.

What is the inspector looking for?

The home inspector is going to look over almost everything about the house.  He or she will inspect the HVAC systems, plumbing, electrical, stairs, roof, windows, foundation, and any external features.  The inspector will provide you with an unbiased and professional evaluation of the house.  The inspection report will detail necessary repairs along with estimated costs of said repairs.  It will also include the estimated remaining life on things like the HVAC systems, roof, windows, decking and fencing as well as tips that may help extend their life. A home inspection does not include everything in the house however. You can read about what isn’t included in a home inspection here.

Should I attend the home inspection?

It’s not mandatory that you attend your home inspection but it is a good idea.  First, it would provide you with another look at the house and an opportunity to take measurements for furniture, new appliances, and window treatments.  Second, the home inspector will give you some valuable insight into the home.  He or she can show you how to operate and maintain all the systems and appliances in the house so you’re not scratching your head after closing.

How long will the inspection take and how much will it cost me?

While the inspector is always looking for the same things, each inspection is different based on the house.  Generally, it will take between two and four hours to complete a home inspection.  You can expect to receive your written report within seven to ten business days after the inspection.  Price will again vary depending on the house.  Rates are usually based on square footage and average between $350 and $700.

What should I look for in a home inspector?

Your Realtor and lender can both provide you with referrals to home inspectors.  You’ll still want to independently vet your inspector.  You want a home inspector who has years of hands-on experience.  Research how long they have been in business and when they became certified.  Next, ask for information on how they will supply the results of a home inspection to you. Will the report be mailed, faxed, or emailed to you?  You’ll want a printed report with details on each item on the checklist.  You should also want find out what items they will be inspecting and make sure it’s a thorough list.  If a home inspector is hesitant to allow you to attend the inspection, won’t explain their process or background, or won’t provide you with a detailed report you should look elsewhere.

When should I schedule my home inspection?

Once you have your home inspector, schedule the appointment as soon as possible to give yourself and the seller enough time to address any issues that may crop up. There is most likely a contingency related to your home inspection included in the agreement of sale. As with most contingencies, there is a “time is of the essence” custom and it may even be listed in the agreement. Abide by the timeline stated in the agreement or follow your Realtor’s recommended time frame.

A home inspection can seem like a formality and possibly unnecessary but be assured it is most definitely a necessity. While Florida law requires Sellers to disclose their full knowledge of the property’s history that doesn’t mean a Seller will know about unseen issues and it also doesn’t mean all Sellers will be honest and forthcoming. Protect your investment every step of the way.

Editor’s note: This post was originally published November 2014. It has since been updated and edited for clarity and cohesiveness. 

Florida Real Estate Disclosures

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In many purchase transactions the old adage “buyer beware” is king. Florida Courts and many other across the country have found that not to be the case for real estate transactions though. The state legislature has followed the Court’s lead and enacted laws to protect the Buyer in a real estate transaction. While this may appear unfair or bias towards the Seller, it actually provides protection for both parties. If a Seller discloses all of his or her knowledge about the property then the Buyer cannot claim they were duped or defrauded.

What disclosures does a Seller need to make?

While this is not a complete list, the most common disclosures a Seller is required to make to a Buyer are as follows:

  • Notice of any liens or lawsuits or the potential of the same against the property;
  • Coastal property or flood zone designation;
  • Current or previous presence of a sinkhole;
  • Any environment hazards including by not limited to: asbestos, mold, lead, and radon;
  • Problems with the home’s mechanical, electrical, plumbing, and HVAC systems and other major components such as roof and large appliances;
  • Wood destroy insect infestation and damage.
  • Property is subject to a homeowner’s association or condominium bylaws.
  • Improvements were made to the property without the correct permits and inspections.

Florida Real Estate Disclosures

What disclosures are a Seller not required to make?

A common misconception among many Sellers is if a person has been murdered or committed suicide within a home it must be disclosed to potential Buyers. While it may be common knowledge in the neighborhood, Florida Courts have ruled that this information need not be disclosed to a Buyer. The Court has also ruled a current or previous tenant’s HIV status does not need to be disclosed.

Disclosing may seem like a daunting task to submit to when preparing a house for sale but Sellers are in luck. The Court requires that Sellers disclose information only which is reasonably expected to be known to the Seller. For example the Court has found Sellers not liable for improvements made to a home by licensed contractors who failed to obtain the proper permits. The ruling stated it was reasonable for the Seller to expect that the contractors obtained the proper certificates and therefore wouldn’t have assumed the permits weren’t in place. Another example is a Seller may not be aware that their property has a termite infestation. It’s impossible to disclose of a condition that the Seller had no knowledge of. That’s why in such instances it is important that the Buyer make the necessary inspections prior to closing and despite disclosure.

 

Neighbors Can Affect Your Sale and What To Do About It

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In the past, we’ve talked about being a good neighbor and how it can benefit you but what if your neighbors don’t return the consideration? Worse, what if they’re the reason you’re moving? No matter how much you prep and stage your home, your neighbors can affect the sale of your home. Most neighborly offenses are annoying rather than illegal, so you’re left to your own devices for recourse.

Appearances Are Deceiving

You may have a meticulously manicured lawn but your neighbor may have embraced more of “natural” feel. If it’s not an untrimmed lawn, it could be a junked up yard or shabby looking exterior. Whatever the physical issue is, talk to your neighbor about your intentions to sell and offer to help resolve the issue. Maybe the home owner is elderly or impaired and these tasks are just too much for them to carry out. Not only is this tactic good for your karma, it can also help your appraisal values.

Neighbors Can Affect Your Sale and What You Can Do About Ita

The “Colorful” Personality

Every neighborhood is going to have an array of people and their accompanying personalities. However, sometimes that personality can be more “miserable” than “colorful”. A wise Buyer is going to talk with the neighbors, if they can, before they make an offer. As the Seller, you’ll want to avoid them talking with that grumpy neighbor who only focuses on the negatives. The best way around this is to suggest a neighbor who is more reasonable. If you have a nosy neighbor who insists on inserting themselves into every situation, try to schedule showings for when you know they won’t be home.

Zombies

No, not The Walking Dead kind rather foreclosed homes. These are still a huge issue in many communities. Zombie homes are usually houses that the owners have abandoned and the bank has yet to complete the foreclosure. In many municipalities, there are ordinances in place for the bank to maintain and secure the property if they have an open foreclosure action. If your local town doesn’t have similar rules in place, some calls to the mortgage company or their attorney can help get the issues addressed.

Whatever situation you find yourself facing, try to be diplomatic as possible. No one likes being criticized especially when it comes to their home. Being understanding to their situation and providing a few solutions that involve both of you can lead to a resolution faster than a demand to “fix it”.