Ted Knows Palm Coast...

and It’s 12 Neighborhoods and 14 Gated Communities !

Prospective home buyers often assume they are ready to close the deal when they find the house of their dreams; whether it’s a resale or the perfect plan from a builder.  But, choosing a home that will be good as both as an investment and for family living requires you to select the very best location. The first step is to learn more about the streets and neighborhoods and select ones that meet your specific needs.

The details within the four walls of a home are usually the focus of home buyers. However, it is a mistake to overlook the neighborhood, schools and amenities available in each area. You need to find neighbors, stores, schools, and a commute that will create the optimal lifestyle for you and your family.  Having a great house won’t be enough if you don’t feel that it is safe to have the kids walk down the street to go to school!

Trulia recently completed a survey that showed how much the neighborhood would impact lifestyle satisfaction.  Home buyers feel so strongly about choosing the right neighborhood that many of them agree that they would either decrease the square footage in their home or pay more than the asking price to ensure that they have a good neighborhood.

It can be a challenge to find the perfect location for your family-which is why you should to work with a real estate agent that has lived in his town for many years and knows where each neighborhood has been, where it is today and where it is  headed.  You need to Talk To Ted !  I am here to help.  

Call today:  (386) 503-1101

Ted Lesher

Broker/Owner, Palm Coast Real Estate Consultants

Realtor and Resident Since 1996

Getting Mortgages Is Getting Easier!

Fannie Mae and Freddie Mac are both government sponsored enterprises.  They do not originate loans, but they buy them from lenders like your bank or mortgage company.  They buy over half of all loans made!  The main difference between Fannie and Freddie comes down to who they buy mortgages from: Fannie Mae mostly buys mortgage loans from commercial banks, while Freddie Mac mostly buys them from smaller banks that are often called "thrift" banks.  Working with them is currently cumbersome, demanding and very time consuming.  According to a new report from the Florida Association of Realtors, they both  have announced plans to speed up and simplify their mortgage buying process.

Fanny May announced it “Day 1 Certainty” initiative that will provide its customers with freedom from misrepresentations and will warranty key aspects of the mortgage origination process.  They are offering faster income, assets, and employment validation services to lenders. 

Fannie Mae's high-profile changes for borrowers include:

-Validating loan application data upfront will give lenders faster verification of key loan data components, such as income, assets and employment information.

-Borrowers will save time using electronic data versus collecting documents, such as pay stubs, bank statements and investment account statements.

-Enhanced property inspection waiver upgrades.  When a property receives a qualifying score through Collateral Underwriter, customers will receive representation and warranty relief for the appraised value of the property.

-Refinance transaction customers are eligible for a waiver of the property inspection requirement if using Desktop Underwriter.

Freddie Mac will improve their processes by:

                                                  -reducing the cost of originating a loan

                                                  -providing a no-cost automated appraisal alternative 

                                                  -automating borrower asset verification

                                                  -automating assessment of borrowers without credit scores

By keeping mortgage interest rates artificially low and improving the speed and efficiency of getting a mortgage, our government is attempting to stimulate the economy by making the purchase of a home easier and less expensive. Palm Coast in particular relies on the home building industry as one of its prime sources of employment and growth. You can read the entire report on the Florida Association of Realtors website, https://www.floridarealtors.org/.
I first learned this information from Toby Tobin’s terrific real estate newsletter at http://gotoby.com/news/article/2856/Fannie-and-Freddie-Plan-to-Streamline-Mortgage-Underwriting

Looking to build or buy a new home in Palm Coast?  Sell one?  TALK TO TED !  (386) 503-1101

“Update – Palm Coast Commercial Building Permits”

On May 15 GoToby.com updated its May 5 Commercial Permits report listing who took out commercial building permits in Flagler County.  I found a couple of the applications especially interesting.

A 7-Eleven with 10 gas pumps applied for a permit in Beach Village, site of the new Beach Village Apartments.  Check out the apartments themselves at http://www.beachvillageapts.com/palm-coast-apts-for-rent/beach-village/

Chase applied for a permit in Island Walk.  The big banks are not planning to go away despite public and political outcrys about them.

And a car wash applied for a permit on Cypress Point Parkway near Steak & Shake. Coconuts behind McDonalds on Route 100 usually has long lines of waiting cars. I hope this one will be just as modern and well run because it will be much closer to Pine Lakes, where I live, and the Indian Trails "B" section folks than either the Palm Coast Car Wash on Old Kings Road or Coconuts.

I think GoToby.com is a great source of local real estate information.  This posting can be found at

http://gotoby.com/news/article/2773/Update--Palm-Coast-Commercial-Building-Permits