Why Tampa Bay is the place to be for Health Care Professionals

In case you haven’t heard, Tampa Bay is on the move! When it comes to the health care industry, we attract top physicians, nurses and researchers, not only because of our great area hospitals but also due to the great work done by USF Health. Our downtown landscape is changing and the relocation of the USF Health Morsani College of Medicine and Heart Institute to downtown Tampa is only going to make the downtown and Channel District a more vibrant, robust community.

As residential real estate advisers, we come across many physicians who come to Tampa Bay to do their residencies. We find that many of them fall in love with Tampa Bay – the low cost of living, the great schools, proximity to many outdoor activities – and end up staying after their residencies are done! They are eager and excited to make Tampa Bay their #NextHome.

Here is a wonderful video showcasing the new USF College of Medicine and the impact it will have in the area when it opens in 2019. If you are in the health care field and considering making Tampa Bay your next home, give us a call or shoot us an email as we’re here to help you make it reality!

It’s Closing Time, What to Expect!

Buying or selling real estate in the near future? Here’s a few things to consider!

Ever wonder why a title company is typically part of your real estate transaction? Although you may only see them once in the transaction – at closing – believe us, a good title company plays a pretty crucial role in the success of buying or selling real estate! They facilitate the closing with both the seller and the buyer, file and properly record documents, work with your lender and insurance companies, review your title commitment and issue your title insurance. Arguably the glue to your transaction, title companies generally play the neutral party in your real estate transaction.

businesswoman outside officeSome of the most frequently asked questions about title and closing are answered below. We’re all about helping you understand the “why” behind the what.

Why is title insurance needed? Like possessing the title of your car means you own it, possession of a clear title of a property means it’s yours, right? Well… let’s hope so! Title insurance provides a layer of protection to your right of ownership. In other words, if someone approached you with claim to the title of your property, you’d want some assurance that they couldn’t possibly have a case, right? From unknown heirs, forged signatures on deeds, liens, fraudulent or innocent documentation errors, title companies provide a necessary blanket of protection to you through the issuance of a title insurance policy. Title insurance isn’t just something YOU will want, but you guessed it, your mortgage lender is going to require it as they too will want their interest in your property protected. Bottom line: Title insurance protects buyers from loss of value from defects to the title of real property.

How and when do you pay for it and how often? How long does my policy last? Thankfully title insurance is typically a one-time premium paid at the closing table, in the form of a typical closing cost. Your policy will last throughout your entire ownership of the property and will be passed along to your heirs.

Closing costs? What are they? Closing costs are considered all the costs required to close your transaction and will vary per party in the transaction.

AS-IS PC

Your FAR BAR As-Is Purchase Contract has a neat break down of who can expect to pay what at closing time, but usually it will include everything from the balance of your down-payment, loan origination fees, discount points, to pro-rated taxes and agent fees, etc. It’s a good idea to shop around a few recommended lenders so you can estimate what you’ll be paying in closing costs ahead of time, like before putting in an offer on a home with your agent! Also, before closing, be on the look out for a closing disclosure with the numbers ready for your review. You’ll want to communicate with your agent to make sure the title company’s calculations of credits and debits are correct per the agreed upon terms outlined in the contract.

What forms of payment are accepted for deposits (earnest money) and closing? Cash or credit cards are never acceptable forms of payments. Limitations and restrictions apply to personal checks, money orders, and cashier’s checks. Wires are always accepted and most common, however, be aware of a rise in wire fraud in recent years. Check out our WIRE FRAUD PREVENTION NOTICE and always remember to call the title company to confirm wire instructions. Hackers are getting sophisticated by hacking email accounts and sending incorrect wire instructions to their accounts while you unsuspectingly assume it was sent by your agent or the title rep. Again, always call and speak to the title company before wiring any funds.

We hope you find this information helpful.  If you’re looking to buy or sell a home in the near future, our team of knowledgeable Realtors will provide you with the service you’re in search of. NextHome Discovery promises to make your real estate experience memorable. We’re reliable, informed, and trustworthy. Don’t just take our word for it either… See for yourself. Contact us today!

Why It’s So Important to Get Pre-approved BEFORE House-hunting: Mortgage Minute with Gershman Mortgage

If you aren’t planning on paying cash for your new home in Tampa Bay, we HIGHLY recommend getting pre-approved with a responsive, reputable lender prior to your home search. We are currently in a seller’s market where, depending on the price point, homes don’t sit on the market too long. It is imperative we present a strong offer with your pre-approval letter in hand when in a multiple-offer situation. This leverage puts you at the front of the line and gives the home seller confidence the transaction will go through without any issues due to financing. Check out this quick video below by Doug Smith with Gershman Mortgage and feel free to reach out to them at the contact info below so we can get started with your search to find a beautiful new home here in Tampa Bay!

Gershman Mortgage: 813-644-4278 | https://www.gershman.com/florida/ |  Ask for Doug Smith or Bryan Marx … and tell them we sent ya!

 

Happy couple in front of sold sign

Paying it Forward, Thanking Our Clients!

We love hearing back from our clients and want to thank every person who has taken the time to recommend our services. It’s beyond rewarding to know that it actually mattered to you. Knowing that we made the difference for you makes all the difference in how we do business moving forward! Every agent at NextHome Discovery strives to make your real estate experience truly exceptional. It really matters to us.

Recommendations

Our agents are always eager to provide stellar service like the recommendation above accurately describes. Check out the most recent comments from our past clients to see the proof! Our clients are talking because they know how difficult it is to find the right real estate agent for the job. They’re talking because the Realtors at NextHome Discovery aren’t just out to make a commission. Every client is an opportunity to provide a service, so every client is treated with respect and loyalty. That’s just how we operate. Whether you’re a first time home buyer, someone needing eyes in the Tampa Bay market for an investment opportunity, or wanting to sell your home quickly and for the highest dollar, we’re here.

We’re your team of trusted local Realtors who will work hard, answer honestly, and provide you relevant information to help you make informed decisions. Contact one of our team members today!

What is homestead exemption and portability?

Homestead Exemption Deadline Fast Approaching

March 1st is right around the corner and marks the statutory filing deadline for your homestead exemption requests. Although applications are accepted all year round, to take advantage of up to $50,000 + off of your home’s value for tax assessment purposes in the year 2017, you may want to get your applications in as quickly as possible! Luckily you are able to apply for most exemptions online.

What are the advantages of filing for a homestead exemption?

“Florida law allows up to $50,000 to be deducted from the market value of a primary / permanent residence. The first $25000 of value is entirely exempt. The second $25,000 exemption applies to the value between $50,000 – $75,000 and does not include a benefit on the school tax. After receiving the homestead exemption the first year, any annual increase in the assessed value is capped at the lower of 3% or the percentage increase in the Consumer Price Index (CPI), with certain exceptions.”

And of course there are personal exemptions, portability of homestead exemptions, exemptions available for military and veterans, and senior citizens exemptions available as well. Don’t miss out on savings you may be eligible to receive on property taxes this year and moving forward. For more information in Hillsborough county click here. For Pasco county, click here.