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        <title>Real Estate Blog</title>
        <link>http://www.roundtablerealty.com/blog/</link>
        <description>This is Round Table Realty's Blog</description>
        <item>
            <guid>http://www.roundtablerealty.com/blog/top-5-common-misunderstanding-about-home-financing.html</guid>
            <link>http://www.roundtablerealty.com/blog/top-5-common-misunderstanding-about-home-financing.html</link>
            <author>Howard@RoundTableRealty.com (Howard Flaschen)</author>
            <title>Top 5 Common Misunderstandings About Home Financing</title>
            <description> <![CDATA[ 















#1. A mortgage is a home loan.


Nope. A mortgage is actually the piece of paper that gives a bank the right to take back your home if you fail to pay the home loan. A minor detail, but we're surprised how often "mortgage" and "home loan" are used interchangeably, when in fact they aren't the same thing. You don't truly pay off a mortgage - you pay off a home loan, which "voids" the mortgage at the end.


















 





















#2. My loan matures when my term ends.


You could be forgiven for thinking so, but not necessarily. The term of a loan is the length of time your lender uses to calculate your monthly payments. Most loans mature (that is, come due) at the end of their terms. An exception is a balloon loan. A 10-year balloon loan might have a term of 30 years (thus giving the buyer lower per month payments), but the loan itself matures at 10 years, which is when you must repay the balance in a lump sum.


















 





















#3. An APR is a neutral representation of how much a loan will cost me.


If only that were so! That was actually the initial idea behind "annual percentage rates", or APRs, which bundle together all the costs associated with your loan - interest, upfront closing costs, and other costs and fees - to tell you what your loan really costs you on an annual basis as a percentage. But you cannot use APRs to compare across loans for the best deal, because lenders don't all calculate their APRs the same way. Annoying, but true.


















 





















#4. The principal is the amount of my loan I'm paying down over time.


Sort of. But you won't be affecting the principal for a while, unfortunately. Most loans are designed such that for the first years, you are almost exclusively paying interest. Which feels a bit funny, since that makes the first few years in a home more like paying rent, technically speaking.


















 





















#5. You can choose which bank will hold your mortgage.


Alas, no again. One might think because you walked into the Bank of Money Bags that your mortgage therefore resides with them forever. But many banks immediately sell your mortgage to other lenders after they've made the deal with you. Which means an entirely different company might ultimately service your loan over time. The good news is they are bound to honor the terms that the original bank set forth.














By: Howard Flaschen
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            <pubDate>Thu, 25 Oct 2012 16:15:00 -0400</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/new-homes-get-their-cool-back.html</guid>
            <link>http://www.roundtablerealty.com/blog/new-homes-get-their-cool-back.html</link>
            <author>Howard@RoundTableRealty.com (Howard Flaschen)</author>
            <title>New Homes Get Their Cool Back</title>
            <description> <![CDATA[ 
New Homes Get Their Cool Back


Jacksonville, FL - So just a short while ago the soup du jour was finding a shortsale or foreclosure and picking it up for a steal.  Steal being subjective but there were enough homes out there to be able to end up with with one.  Albeit the home you were buying might need a new roof, some updating, to be rid of that circa 1970 stove, and some WDO repair, most were happy because they got a foreclosure or a shorty.  Well times, they are a changin'


Now that builders are leaner, more efficient, more attractive, and competitive its becoming cool again to step into some model homes while looking for a new home.  Builders are offering many of the upgrades, tremendous pricing, awesome amenities and peace of mind that makes them start to be the 'cool' place to be again.  


Shortsales and foreclosures aren't getting the steep discounts anymore.  As a matter of fact, theyre pricing is beginning to go up and sometimes dramatically in bidding wars.  Very often homebuyers are in need of spending $10-20K more for the home that was originally listed for a song.  That decompression time at Starbucks usually involves a conversation like this, 


"Wow, I know you told me that the market was hot for this stuff but wow...." 


Realtor, "mmmmm, hmmmmm"


"I thought you were just selling me."


Realtor, "mmmmm, hmmmmm"


"Wow"


Realtor, "mmmmm, hmmmmm"


It is what it is folks.  Shortsales and foreclosures are truly a part of the wild wild west, six shooters and all.  If you have thick skin and the patience of Jobe (and Cash) then perhaps thats the direction to go.  However, give homebuilders another look, their incentives, plans, communities, and guarantees sometimes make them a great alternative to marching through the jungle with a machete and some matches.


#sharethis# 
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            <pubDate>Thu, 18 Oct 2012 10:54:00 -0400</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/closing-on-your-new-home-is-going-to-try-your-patience.html</guid>
            <link>http://www.roundtablerealty.com/blog/closing-on-your-new-home-is-going-to-try-your-patience.html</link>
            <author>Howard@RoundTableRealty.com (Howard Flaschen)</author>
            <title>Closing on your new home is going to try your patience</title>
            <description> <![CDATA[ 
Closing on your new home will try your patience...


Steeled nerves, flexibility and a good sense of humor will keep you sane


Jacksonville, FL - Its becoming more and more inevitable that you are just simply going to miss your closing date.  I know I know, that's just a horrible sentiment to have but by planning for this eventuality you can keep your hair and your nails and know that while you might not be closing on that pre-planned Friday, you will likely be eventually closing.


Its not fair and there are a plethora of reasons why it's not going to hit on the date everyone wants but alas there is likely not much you're going to be able to do but simply laugh and drink a cold one.  Simply put, the entire market is overwhelmed.


Its not just that people are buying homes because.... well, they should.  Its that people are also refinancing their homes when they are able and, well.... they should.  Each one of these Real Estate transactions adds another work load into the system, a system that was only contracting up to a few years ago and simply hasn't ramped back up.  Less mortgage experts, less processors, less underwriters, less appraisers, we're doing a lot with less and unfortunately it will effect you.


So as you stare at the calendar and that due date comes into the near of the future just know that at any moment someone in the system is going to say, "I need more time."  Now leave it to the Realtors to try to bring all the parties together because a simple delay is not so simple.  Many of the people in the system, those asking for more time might not place the same weight on the contract as you do, the seller does, and their Real Estate professionals do.  


It is absolutely possible that moving a closing date will cause huge, big, expensive problems from the more mundane to the entire transaction falling apart.  So let cooler heads prevail and hopefully, eventhough it isnt the perfectly pre-planned date, it very likely will happen and you'll be in your new home... Its still not fair but it is the state of play right now.  Enjoy the new home, forget the bad, remember the good and for goodness sake, start decorating!


#sharethis#
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            <pubDate>Tue, 02 Oct 2012 11:13:00 -0400</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/gorgeous-pool-home-in-julington-creek-plantation.html</guid>
            <link>http://www.roundtablerealty.com/blog/gorgeous-pool-home-in-julington-creek-plantation.html</link>
            <author>Howard@RoundTableRealty.com (Howard Flaschen)</author>
            <title>Gorgeous Pool Home in Julington Creek Plantation</title>
            <description> <![CDATA[ 
Julington Creek Plantation Pool Home


Within Gorgeous River Oaks Plantation


St. Johns, FL - This Amazing home just hit the market and it truly is my pleasure to offer it for sale.  This 5 Bedroom 4 Bath home is perfect inside and even better outside!  An amazing lanai, pool, and summer kitchen gazebo makes being outside, overlooking the preserve just as nice as walking through the front door.  This open kitchen and large family room will make having people over for the game a joy!  The Bonus suite upstairs is peerfect for the guest or Teenage son or daughter.  This home is a must see and must view... Please share


http://www.roundtablerealty.com/listing/637521-1124-kingsland-ct-st-johns-florida-32259/


#sharethis#


 


 
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            <pubDate>Sun, 23 Sep 2012 20:50:00 -0400</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/farmers-market-at-nocatee.html</guid>
            <link>http://www.roundtablerealty.com/blog/farmers-market-at-nocatee.html</link>
            <author>Tonia.LeVangie@RoundTableRealty.com (Tonia LeVangie)</author>
            <title>Farmers Market at Nocatee</title>
            <description> <![CDATA[ 
Nocatee Farmer's Market


Nocatee has a Farmer's Market the third Saturday of every month.  It's a great place to pick up your local produce and a lot of great local items.  This is the only place I buy my honey.  You're helping the community and they usually have fun activities planned for the entire family.  My granddaughter loves visiting every month.  The Farmer's Market at Nocatee is one of the many great features of living in the Ponte Vedra area.


Here are also some of the available properties for sale in Nocatee:


http://www.roundtablerealty.com/nocatee-florida-homes-for-sale.php



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            <pubDate>Fri, 21 Sep 2012 09:48:00 -0400</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/appraisals-versus-repairs.html</guid>
            <link>http://www.roundtablerealty.com/blog/appraisals-versus-repairs.html</link>
            <author>Howard@RoundTableRealty.com (Howard Flaschen)</author>
            <title>Appraisals versus Repairs</title>
            <description> <![CDATA[ 
Appraisals versus Repairs


A north Florida Housing dilemma


Jacksonville, FL - Its one fear every home seller has.  They agree to do a whole bunch of repairs for the buyer, for the home, and then the appraisal comes in short of the agreed upon price.  Now what to do?  The sellers now invested money into the sale and the buyer wont pay the difference.  Does the seller feel as if they need to lower the price now to complete the deal?  What went wrong?


First off, they probably weren't working with a Realtor because if they had they wouldve been advised not to start any of the repairs until the buyer's loan was fully approved without contingencies including the appraisal.  This is spelled out in paragraph 14 of the NEFAR purchase and sale agreement.  Repairs can be costly and sometimes buyer specific.


Secondly, eventhough everyone is excited to get their stuff done to help the home move to closing, its important to take things in steps.  Working with your Realtor, venting to them, expressing your anxiety to them, its all normal but you need to let it out. Another word for Realtor is sounding board.


Finally, in many cases the seller may make the decision that the costs are so minor when totaling up the repairs that they just simply want to do them and get them over with as the next buyer (should this deal not work out) might ask for the same items to be fixed.  So for $500 or so dollars its just pointless to wait.  I hear that too and as long as the sellers are making an informed decision than that's fine as well but please...


However, dont go adding a roof onto a home in the wishful thinking that the home will then appraise.  It might not.  Then what?  Thoughts?


#sharethis#
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            <pubDate>Thu, 20 Sep 2012 23:15:00 -0400</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/can-you-live-out-of-town-and-buy-a-home-hereyou-bet-you-can.html</guid>
            <link>http://www.roundtablerealty.com/blog/can-you-live-out-of-town-and-buy-a-home-hereyou-bet-you-can.html</link>
            <author>Frank.Whibley@RoundTableRealty.com (Frank Whibley)</author>
            <title>Can you live out of town and buy a home here...you bet you can.</title>
            <description> <![CDATA[ 
With a super hot housing market here in Jacksonville many out of state buyers lose out on the perfect home. I have tons of buyers who tell me they want to see the home when they arrive in town only to discover it's gone. The number of days a homes is on the market in our area have continued to decrease as a result of less inventory. And as we both know less inventory leads to higher home prices. Unlike the national average our home prices have increase about 10% from 12 months ago. What was $200k last year is now $220.


Is there a risk involved in purchasing a home sight unseen, sure there is but I'm here to help with the process. All our home listings provide aerial shots of the community and location. I can also provide additional data like percentage of home owners versus rentals, degree of education of those living in the area, population density, proximity to the beach and retail centers and much more. Almost all our home listings have photos but I'm more than happy to go and take additional photos of the home and email them directly to you. I can give you my opinion of the overall condition of the home but in no way do I recommend not getting a complete home inspection also. If you like what you see we can put in an offer, and in the end if your not satisfied with the home inspection we can cancel the agreement and receive your full binder deposit back. Your risk here is the cost of the home inspection that typically runs from $450-$650, and yes I have a list of qualified inspectors for you.


So if your ready, I'm ready. Here's a recent testimonial from one of my out of town buyers:


We recently purchased a townhouse in Florida with the help of Frank Whibley from Round Table Realty. The process went smoothly with Frank's assistance. Since we live in Connecticut, there were a lot of decisions that had to be made long distance. Frank was there every step of the way. He did several of the walk throughs for us and we couldn't have been more pleased with the results. Frank kept us updated and we trusted him completely. We highly recommend his services!


Kirk and Kerri


Thanks in advance for the opportunity to serve you.


 


 
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            <pubDate>Tue, 04 Sep 2012 16:38:00 -0400</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/thank-you-for-allowing-us-to-help-you-sell-your-jacksonville-home.html</guid>
            <link>http://www.roundtablerealty.com/blog/thank-you-for-allowing-us-to-help-you-sell-your-jacksonville-home.html</link>
            <author>Howard@RoundTableRealty.com (Howard Flaschen)</author>
            <title>Thank you for allowing us to help you sell your Jacksonville home!</title>
            <description> <![CDATA[ 
Thank you for allowing Round Table to help sell your Jacksonville Home


Jacksonville, FL - 


Courtney, Keith, and Howard


Thank you for everything.  We truly appreciate your hard work and dedication.  You were very supportive throughout the roller-coaster ride we experienced during the entire process of selling our home.  We made it to Daytona last night and as you can see from the attached photo we enjoyed a leisurely walk on the beach this morning.


We have shared with our friends how delighted we were in selecting Roundtable Realty to represent us in the sale of 8711 Sanchez Road.


Sincerely,


Dan and Lynda



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            <pubDate>Sat, 11 Aug 2012 15:27:00 -0400</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/jacksonville-homes-for-sale-prices-rising.html</guid>
            <link>http://www.roundtablerealty.com/blog/jacksonville-homes-for-sale-prices-rising.html</link>
            <author>Howard@RoundTableRealty.com (Howard Flaschen)</author>
            <title>Jacksonville Homes For Sale Prices Rising</title>
            <description> <![CDATA[ 
You will be paying more for your Jacksonville home


Luckily Interest Rates Remain Low


Jacksonville, FL - You're not unusual.  You're probably like many many people.  You'd love to buy a home but there's something holding you back.  Perhaps its leftover trepidation from the horrible recession we went through.  Maybe its because you saw someone buy a home during the bubble and have to experience what its like to be tens of thousands of dollars upside down.  Maybe its becuase you want to 'time the bottom'.  There are plenty of reasons but I can address the last reason.... you're late.  At least in north Florida. 


Rarely is there a time like now, where interest rates create a buyer's market while pricing and inventory allow for a seller's market.  You need a good Realtor.  You need to buy your own home.  You'll either pay your own home's mortgage or pay someone else's.  You might as well get the benefits.


Call an RTR Agent today and get started.... unless of course you'd like to wait for prices to keep rising and then eventually interest rates to rise too. :)


In a sign that the U.S. housing market is recovering, home prices rose for the second straight month in May, according to an industry report issued Tuesday.


Home prices rose again in May.


Home prices climbed 2.2% compared with a month earlier, according to the S&amp;P/Case-Shiller 20-city home price index. Prices are still off 0.7% compared with May 2011, but that's the lowest year-over-year decline in 18 months, according to David Blitzer, a spokesman for S&amp;P.


 The report gave support for industry experts who have been saying that the long-awaited housing market recovery is underway. But Blitzer sounded a note of caution.


 "We need to remember that spring and early summer are seasonally strong buying months so this trend must continue throughout the summer and into the fall," he said.


 The roller coaster ride for home prices took them up 106.5% between January 2000 and their high of July 2006. After they peaked, prices lost more than 34% of their value. The gains of the last two months have pared that loss to 33%.


#sharethis#
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            <pubDate>Tue, 31 Jul 2012 09:11:00 -0400</pubDate>
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            <guid>http://www.roundtablerealty.com/blog/selling-a-north-florida-shortsale-takes-a-team.html</guid>
            <link>http://www.roundtablerealty.com/blog/selling-a-north-florida-shortsale-takes-a-team.html</link>
            <author>Howard@RoundTableRealty.com (Howard Flaschen)</author>
            <title>Selling a north Florida Shortsale takes a team</title>
            <description> <![CDATA[ 
Trying to sell your Shortsale?  You need a team...


maybe an army.


Jacksonville, FL - If you've had the unfortunate luck of finding yourself in a shortsale situation it can be one of the most trying times of your life.  You need to steel yourself for what is to come and you need to surround yourself with a team of tried and true veterans of shortsales to help navigate the rough seas ahead.  At the Table, we have such a team.  Lawyers, processors, warriors, all coming together to attempt to help you succeed in reaching your goals.


Avoiding foreclosure is key.  There are so many benefits in looking at your other options and perhaps one of them will ring true for you and yours.  Please, reach out before its too late.


We have a ton of success stories however don't be fooled.  Shortsales are no fun... no fun at all. We've helped people get their entire deficiencies with our services however shortsales are very very difficult and there are a lot of variables that are out of everyone's control and that's where the navigation is key and the experience is so important.


If you need a consultation please feel free to reach out to us.  We're here to help and as always, our services are free when it comes to shortsales.  


http://www.roundtablerealty.com/blog/our-jacksonville-shortsale-success-stories-rock.html


#sharethis#
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            <pubDate>Fri, 27 Jul 2012 21:21:00 -0400</pubDate>
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