Real Estate Tips

Who Are The Key Players In A Real Estate Transaction?

who are the real players in a real estate transaction?

Like the players on a field, we list out the usual suspects that participate and facilitate in a real estate transaction. Through today's Boca Raton Real Estate blog, we'll review the title, role, and expectations of each of these key members you're likely to contact when buying a Boca Raton home for sale. Some of these may be core essentials, while other members may be called in to rectify certain problems or address disputes. Just like it's easier to play chess when you know the purpose and movement of each piece, the same goes for all things in business - your real estate transaction is not excluded. Read further, and learn who's who in your home buying or selling process.

real estate buyer

Buyer

The buyer is the first person to dive into the market following the trail to their dream home. A buyer and seller are like yin and yang, and without one, the transfer of property would either be a donation or confiscation. Buyers often wield more power than sellers since they are not tethered to the home that is being listed, and can freely scrutinize the area within their price range. Their activity, or lack thereof upon viewing a property is the impetus for sellers to adjust pricing, seek renovations, and work to compromise. In addition, there are typically more buyer's agents than seller's agents among those who specialize...

The Ultimate Guide To Placemaking

the ultimate guide to placemaking

As Realtors, we have a unique opportunity to participate in our community at several levels. Our understanding of the housing market, the needs of the people, and our connection to many adjacent parties are all assets to civic engagement. We have an understanding and a network that spans the worlds of local government and home design, along with numerous charitable opportunities to give back with our hands, heart, and wallets. Placemaking is one of the ways that our roles as professionals and members of our community begin to blur into one. It is an opportunity to leverage our talents and goodwill to create something unifying and lasting. In today's blog, we'll review this relatively new but growing term in city planning, what it is, and how you can get involved.

placemaking defined

Placemaking: Defined

The Project for Public Spaces defines placemaking as "a participatory process for shaping public space that harnesses the ideas and assets of the people who use it." Commonly seen in communities experiencing urban renewal and revitalization, it is an intentional project that intends to create a shared public space to bring people together and keep them active. Placemaking aims to create public spaces that are equal parts accessible,...

What Are Some Common Contingencies In Real Estate Contracts?

what are common real estate contingencies

Contingencies in real estate contracts are specific clauses that trigger or prevent certain events from occurring. They are often routinely added to ensure certain conditions are met before entering the contractual phase. Many of these contingencies are common, and sometimes even required to ensure a fair and balanced transaction occurs. In today's Boca Raton Real Estate blog, we're bringing several of the most universally observed contingencies in real estate contracts, and how they shape the nature of buying or selling a Boca Raton home.

home sale contingency

Mortgage/Loan Contingency

A mortgage contingency is a way to protect home buyers from rejection by a financial institution. This contingency, also known as a loan contingency or financing contingency, allows buyers to cancel the contract without legal penalty or loss of deposit in the event they are unable to secure a mortgage. The loan contingency period is usually 30-60 days, and permits the buyer a grace period to search for a financial product that works for them. If unable to, both parties can walk without repercussion.

home inspection contingency

Home...

The Pros and Cons To Paying Your Mortgage Off Early | Boca Raton Home Mortgages

the pros and cons to paying a mortgage early

It sounds ludicrous to not pay a loan off early. After all, in the commission of a 30-year mortgage, oftentimes more than half of the loan is paid in strict interest. However, in part to some seemingly perverse and conflicting financial incentives to the way our system is set up, it isn't always the wisest to pay off your mortgage early. There are credit, tax, and future loan considerations to take into account, along with the principal and interest of the home itself. In today's blog, we give you the pros and cons of paying your mortgage early and hope you find a way forward that best suits you.

free up cash flow

Pro: Free Up Cash Flow

Paying off your mortgage faster means more cash in the future. Even if your mortgage is still active, you can pay down heavily in the beginning, creating a healthy habit that reduces the term of your loan, freeing up cash flow in the future. In addition, automating extra payments will ensure you build your budget around this higher number. In the event, you require a few extra bills to take care of a one-time problem, you've already been overpaying and can safely regress to the mean without losing any momentum. Now, imagine the beauty of paying down your mortgage 3, 5, or maybe 10 years early. All of that money thrown at interest is now back in your pocket for all those years to come!

you could lose your tax deduction ...

When Is The Right Time To Refinance My Mortgage? | Boca Raton Real Estate

when is the right time to refinance your mortgage

A long-term loan can be a tricky prospect. The timing of paying it down can affect not only your bottom line, but also your taxes, credit, and ability to pursue future loans. Refinancing a mortgage is part of this challenge - a stressful miasma to some, a unique opportunity to others. With interest rates as high as they've been in decades, the time and place to refinance matters more than ever. Our Realtors have insisted to their clients that despite the high rates, the price of waiting for unknown speculation to potentially come true is often more financially damaging than buying now. If you're hesitant about high rates and are buying with the intent to refinance in the future, read today's blog and consider these examples as indicators that it might be the right time to refinance your Boca Raton home.

lower by 1%

If you can reduce your rate by 1% or more

Refinancing isn't something you can do whenever you just feel like it. Certain prerequisites must be met in order to ensure your refinance is successful. In the event your refinancing lender provides a rate decrease by a minimum of 1%, you should consider it time to refinance. With rates standing above 7% as of today's writing, that single percentile won't return you to the pre-COVID days but will surely reduce your monthly payment by a considerable amount and allow you to pay your mortgage faster with the leftover funds when possible. 

...

6 Reasons To Move Your Business To Boca Raton

6 reasons to move your business to boca raton

Through the decades Boca Raton has grown from an idyllic waterfront prize to something so much more. While always defined by luxury, glamor, and the magnificent beaches that attract visitors from around the world, Boca Raton is now as much of a business center as a vacation destination. There are many reasons (well beyond the six listed here) to relocate your business to Boca Raton, but through our research and the discussions we have with local business leaders, we believe these six are as impactful as any. Read on and learn more about these six reasons should be moving your business to Boca Raton, FL.

tax efficiency boca business

Tax Efficiency

Florida is one of the best tax havens in America, especially for the personal. From the sales tax your employees pay at the register, to the many incentives to run your business with a Florida HQ. If you're relocating employees, they can expect a heightened quality of life, along with the lack of a state income tax to add to their income by subtraction. To further incentivize business relocations, the state provides many state-specific tax credits to improve your bottom line.

boca raton corporate hq map...

Key Questions To Ask At An Open House

key questions to ask at an open house

An open house is more than just a chance to view the home for yourself. It's an opportunity to get the pulse of the community, to learn about the neighborhood, the history, and the work that's gone into the home you're touring. When attending an open house, you should feel relaxed and at ease. After all, it's the selling agent's job to entertain you - to provide a welcoming atmosphere and even a little snack to keep you going throughout the day. However, as attendees to an open house, it shouldn't be all about the fruit platter and good energy. You're there for a reason, and it's not for the free coffee. Here are some insightful, and important questions you should consider asking when attending your next open house.

home offer accepted

How Many Offers Are There On The Home?

Keep your eyes on the listing agent, whose disposition and attention to guests may give away whether the house has offers or not. Oftentimes, the agent will initiate the conversation and deliver the news that multiple offers have been given themselves. Their hope is to create a sense of urgency and subsequently, a bidding war. By getting out in front of the agent and asking ahead, you're showing intent but not allowing them to take point on the conversation. In addition, you may not want to endure the stresses and back and forth of a bidding war. Finding out this important detail will help determine your next step...

The Pros and Cons of Cosigning a Mortgage | Buying a Home In Boca Raton

the pros and cons of cosigning a mortgage

As you age and grow wealthier, you may have children or a special someone in your life you'd like to share your prosperity. Oftentimes this can lead to considerable financial risk on behalf of both parties, but co-signing is nonetheless one of the most potent and impactful ways you can benefit another person. When co-signing a mortgage, you are likely taking one of the biggest financial risks of your life. For such a risk and little reward, you should be certain you are very close to, and trust your co-signee. For our part, we're drawing from our experience and discourse with our partners at Supreme Lending to learn what cons and pros (if any) there are to co-sign a mortgage.

the pros of cosigning a mortgage

Pro: The Spirit Of Giving

Admittedly, there are few pros to co-signing a mortgage for someone else. Very rarely does it lead to a financial boon for the secondary signer, and more than often is a lateral move made out of good faith. Considering student loans still loom large and younger people are facing economic circumstances unique to themselves, its incumbent on the prior generation to support its younger people as they seek the benefits of homeownership. Obviously, no personal relationship should be transcended by money, but co-signing a major investment such as a home loan can lead to great potential...

Revealing The Top Turnoffs For Boca Home Buyers

the top turnoffs for home buyers

Home buyers may have vastly different needs. After all, a burgeoning young family and a successfully retired couple may not have much in common save for their shared destination: Boca Raton Real Estate. When Realtors "sell" a home, they are acting both as your advocate in the home buying or selling process and as keys to the city at large. The adage about location is one of the most consistent market principles known to mankind, as it is entwined with our very DNA. Humans are creatures of habit and work to seek comfort both in times of distress and to increase this comfort in times of prosperity. After all, if the earliest Boca Raton Pioneers had access to central AC, wouldn't they enjoy it? All of this esoteric talk leads us to acknowledging one principle: despite the diversity of needs, backgrounds, and budgets, many of the "turnoffs" that break a deal are similar across all demographics. Protect your home from these commonalities, and ensure your home sale goes off without a hitch. Read on and learn what these super common turnoffs for home buyers are, and prepare your home for a smooth, easy sale.

dirty old welcome mat

Dirty/Muddy Front Door Mat

First impressions are everything, right? A messy exterior with unkempt shrubbery, dust, cobwebs, and a muddy mat as...

4 Major Incentives To Sell Your Property This Summer

4 major reasons to sell your home this summer

Summer is on the horizon. For Floridians, it’s been here since Valentine’s Day, but the rest of the country is still catching up.  Boca Raton Real Estate was once considered a seasonal market, both in terms of tourism and Real Estate. Yet, with the massive paradigm shift that was 2020, we now see that South Florida homes are not only relatively insulated from economic forces that impact most of the country, but that demand is a year-round expectation. The market is still as hot as your car engine after a trip to the beach on a midsummer day. Similes aside, we provide you with four reasons why you should consider listing your home or condo this summer! Read on to learn more as we strive to keep you informed on both current events and market forces that may change your mind about where you’ll hang your hat this Autumn.

high demand

High Demand

Summer is the norm for us, but for northerners who represent the lion’s share of relocation cases, summer is the cessation of gridlock. Elderly clients are more likely to visit, school is out so families are mobile, parents are seeking out new condo options and rental opportunities for their young collegians, and there are few significant holidays to work around. For all these reasons, summer is when demand is at its highest. Buyers...

The Most Pet Friendly Boca Raton Neighborhoods | Boca Raton Real Estate

the most pet friendly boca raton neighborhoods

"Pet Friendly" can mean many things, but for our best definition, we perceive a pet-friendly neighborhood as one with a combination of qualifying factors. These include pet-friendly policies, clean walking trails, low traffic, safe crossings, and crisp, open-air spaces. While there are many more than these five pet-friendly neighborhoods in Boca Raton, we had to limit our list to just these superb selections. For more about these developments and the prospects, challenges, and expectations when moving your pet to Boca Raton, learn about these lovely homes and see where your pawprint will be made!

boca west country club front entrance

Boca West

Based on sheer size alone, the enormous Boca West is one of the preeminent locations to enjoy life, especially with your four-legged friends. Voted one of the top country clubs in the entire country, Boca West sits on a massive space in Central Boca, featuring dozens of subdivisions and housing options to choose from. It's this versatility that allows Boca West residents to carve out their future, without the stark limitations and close confines of certain master-planned communities. Boca West features an enormity of amenities, shimmering waterways, and shady walking paths that provide ample space for you and your pup to explore. As a plus, there are numerous nearby highly rated veterinarians and ...

Real Estate Startup Expenses: What Costs Can New Agents Expect?

what expenses can new realtors expect?

Becoming a real estate agent can offer unprecedented professional freedom and prosperity, but it is important to consider the expenses associated with getting the ball rolling. While no two brokerages are identical, there are common fees and expected expenses that are usually essential to the startup process. A key benefit of working with Champagne & Parisi is the lack of fees and costs associated with equipment, office space, and even in-house marketing services. For most new Realtors, however, these costs can be unilaterally expected, especially when working with a fee-based brokerage. Here are a few common real estate startup expenses new agents can expect when launching their careers.

licensing and education fees

Licensing and Education Fees

This is universal. Every Realtor needs to be educated and officially licensed before facilitating a real estate transaction. This requires a review of ethics, best practices, legal concerns, and any state & local considerations as part of a broader and ongoing educational process. The licensing exams can become quite pricey, which is part of why pre-licensing courses and seminars are a significant component of startup costs for Realtors. Testing can cost up to a thousand dollars depending on your...

April Fools Boca Raton! | 5 Preventable Mistakes Home Buyers & Sellers Make

april fools blog boca raton

Happy April Fools Day! As much as we're tempted to go into hiding to avoid the practical jokers in our midst, the Boca Raton Real Estate market and our clients remain stoic in the wake of such a wacky holiday. In sticking with the theme, and as the only major non-denominational holiday in the month of April, we're writing about five of the most significant mistakes, misunderstandings, and challenges home buyers and home sellers make. If you're guilty, don't worry, we're not branding you a "fool" by any means. As a matter of fact, even great Realtors are guilty as charged, but as professionals, it's also our job to point out and rectify mistakes made along the way. To celebrate April Fool's Day, here are five of the most common Real Estate mistakes we've seen made both recently, and across time.

high prices for homes

Your Listing Price Is Too High

Oftentimes Realtors are tasked with educating their clients on the ways the current economic climate impacts their listing. "The market," or how it is discussed at large in the media, around our water coolers, and at our favorite bars may have some congruencies with your current situation, but there may be stark differences as well. Such examples include...

A Complete Guide For New Residents Of Boca Raton | Where To Start On Day 1

day 1 guide for new residents of boca raton

Alright! You've made it. The car is here, the boxes are coming off the truck, and you hold the keys to your beautiful Boca Raton home. Congratulations! Now what? We help you unfurl your banner and begin your new life as a Boca Raton resident, starting with these helpful tips to acquaint yourself with our town. From the second your feet hit the ground to the first day of school, here are a few important considerations to go through step-by-step so you can land softly and live well.

know-your-area

Knowing Your Surroundings

Boca Raton has 9 zip codes, and like many South Florida communities, is organized around a few unifying landmarks. The first, and most important is the Atlantic Coastline. Similarly to most cities in the United States, affluence and luxury tend to huddle near the coastlines. East Boca Raton can largely be considered territory east of Dixie Highway, and downtown Boca. Downtown Boca Raton occupies the southeast corner of the city limits, noted by its historic buildings such as Old City Hall, which now serves as the Schmidt Boca Raton History Museum. Furthermore, downtown is noted by the presence of mid and high-rise condos, high-end restaurants, and the numerous drawbridge that line the barrier...

The Ultimate Guide To Mortgage Types | Boca Raton Mortgages

the ultimate guide to mortgage types

With the hubbub around our economy constantly hovering over our record-shattering real estate market, it's important that we know the fundamentals. With the feds raising interest rates and mass speculation around our surging prices, low inventory, and unique circumstances, we dedicated ourselves to writing about, and explaining the most common home mortgage types you're likely to come across in your Boca home search. With the help of our superb partners at supreme lending, we have access to dedicated professionals who are always on top of the latest news and changes to mortgage law. Read on and learn from our ultimate guide to mortgage types and see if these choices are right for you.

30 year fixed rate mortgage

30 Year Fixed Rate Mortgage

A 30 Year fixed rate mortgage is as it sounds. Of the two major types of mortgages (fixed and adjustable rate), this is the most commonplace and usually the preferred financial product for first time homeowners.

15 year fixed rate mortgage

15-Year Fixed Rate Mortgage

A 15-year fixed rate mortgage is a much greater risk to default, but in hindsight appeared to some to be the better mortgage as opposed to the 30-year variety. While the upfront costs are vastly higher, the lack of time for interest to compound usually ensures the final cost is much lower. Without the additional 15-year term to accrue, this is a great...

6 Ways To Separate Yourself As A Realtor | South Florida Real Estate

6 ways to stand out as a realtor

Realty can be a crowded profession! Over the years, Champagne & Parisi Agents have carved out a lasting impact in our community through every new client and transaction. We're proud of the relationships we've built and the deals we've made, so when it came time to ask some of our very best about what it took for them to stand out, we came up with this shortlist (among many traits) that have made our team so special over the years.

find your niche

Find A Niche, But Don't Stick To It

Everyone has an angle and a way to connect with clients - whether it be multilingualism, a property-type specialist, or even an age bracket you're comfortable with. Having your "wheelhouse" is intrinsic to developing repeat business. In the case of our international Realtors, their multilingual nature and familiarity with the immigrant journey have put them in pole position to help others walking in their path. Some Realtors are commercial specialists, others work on the beach, and beyond. It's important to find what you're best at, but don't live and die by your bread and butter. 

social media

Utilize Social Media

There are two primary ways a brokerage like Champagne & Parisi can compete with local brokerages that are five times its size: superior client service, and the embrasure of modern technology. Without the digital apparatus employed by C&P, our brokerage...

Boca Raton Rental Homes | A Boca Real Estate Investors Guide

tips for boca raton rental investors

Whether looking to live full time, seasonally or simply invest in our explosive Boca Raton housing market, there are significant factors to consider when making your investment - especially as a landlord. Our rising prices, prime real estate, and a seemingly unyielding quantity of new candidates flocking to rent your home are substantial contributors to our overall buyers' boom. Still, there are many unique challenges that we face in our Boca Raton real estate market. Here are 5 of those challenges, as part of our rental home investor's guide, learn and adapt - as we've done over the years in South Florida.

storm surge

Consider Flood Insurance

Hurricane Andrew was our (no pun intended) watershed moment. Building codes were updated, new preparedness measures were adopted, and the entire real estate market was forced to adapt from breaking ground to final sale. A plurality of South Florida real estate from Homestead to the Palm Beaches is less than 30 years old, with much of it post-dating Hurricane Andrew's landfall in 1992. With wind damage largely mitigated, we now turn our attention to some of the most deleterious elements of hurricanes, and our summer storms in general - flooding. Whether it be a massive storm or days of ongoing subtropical downpours, did you know most homeowners insurance doesn't come with flood coverage? This simple, specialized insurance could save you thousands, and maybe even your entire...

5 Avoidable Factors That Devalue Your Home | Boca Raton Real Estate

5 things that devalue your home

Compared to other investment opportunities like the stock market or cryptocurrency, real estate is the most reliable, dependable, and longstanding. Despite the still substantial risks and high upfront cost, the physical backing of a manmade structure provides you with all the collateral you'd need to back your initial and ongoing investment. It's important to know what factors increase or devalue the price of your home. Some seemingly innocuous choices can have longstanding ramifications. These are 5 avoidable things that can devalue your Boca Raton home if you're not careful.

rotting exterior of home

Neglected Exterior

We're sure that much like your dating profile, the home you've listed on the market has more than meets the eye. However, that first glance, that initial impression, is a massive determinant of action or inaction. As Realtors, we put a major emphasis on our headshots, clothing, and general disposition. Much like ourselves, our homes are a reflection of who we are. If we choose to neglect the exterior and detract from the curb appeal, we are only harming ourselves, and forcing otherwise interested parties into a hard pass.

outdated kitchen

Outdated Kitchens

The kitchen is one of the most significant rooms in the house. Equal parts form...

The Top 4 Cost Estimator Tools | Boca Raton Real Estate

4 of the best online cost estimator tools

You'll never truly know the value of your home until an in-person appraisal is undergone. A full walkthrough and boots on the ground with an appraiser that knows the area is the surest way to know you're getting a solid valuation of your Boca Raton home, townhome, or condo. However, without an appointment, time allotted, and often a hefty fee, you won't know much without finding an easier way to track your home value.  We often weigh ourselves without knowing our exact body fat percentage, so in applying this same logic, get an educated guess on your home's current value through these powerful home cost estimator tools!

Eppraisal

eppraisal logoEppraisal offers some of the most user-friendly data aggrandizement found anywhere online. Without entering so much as an email, you can freely obtain powerfully pertinent information that'll give you a solid estimate of your home value - without the deluge of marketing emails. Eppraisal offers prices on homes, details on homes solid nearby, refinancing rates, and more. For no commitment and no hassle, you can learn a great deal about your home value, or the true value of the home you're seeking to buy.

...

4 Ways to Build the Perfect Real Estate Team | Boca Raton Real Estate

In today's world, the real estate market can be a hit and miss. With the fluctuation of the real estate market, some agents often wonder how they will survive. The business is hard, but working remotely can pose even more of a challenge. 

Luckily, the rise of real estate teams has allowed remote agents the opportunity to work with a solid team that will build off each other's goals. Making the switch itself can be a scary leap off that ledge, but any agent looking to switch to a team setting immediately sees the benefits versus the latter. 

Availability

availability

We understand--life is hard, and sometimes we can't handle the stress. When you're a real estate agent, oftentimes you are forced into the field to do open houses--disallowing you from being at the office to tackle those important clients. But one thing you can count on when it comes to a real estate team is access to availability. 

Rising to the challenge and tackling those responsibilities yourself is a noble cause, but realistically it's important to have backup when you need it. With a real estate team, everyone in the unit has a role or a task they are specifically assigned to, meaning you have more of an opportunity to make deadlines or deal with clients. 

Choice of Role

choice of role

We know our strengths and weaknesses. Every real estate agent, of course, has parts of the job that they absolutely dread. It's okay--that's perfectly fine, AND...