Wistful Thoughts of Gazumping

In the world of real estate, listings are king. We all work very hard and diligently to get them and harder still to tend and nurture them. We treat them with the same strategic care as any beauty pageant mother vying for first place. But it is the buyer that is really The Queen in the current marketplace.  Pre-qualified for a loan? Great. Got cash? Greater still.
As we begin what promises to be an interesting and hopefully pivotal year in real estate and the country at large, I am thinking of dreamy past sales, Realtor nirvana really, of bidding wars and multiple offers.
In England and Australia they have a term that is used when a seller accepts a verbal offer of full asking price and then subsequently accepts someone else's higher offer. If this happens, one can consider themselves "gazumped."  We don't use this term here in the States.  We're partial to written offers in these parts that when accepted (in writing), bind the seller. Inspection periods in purchase and sale contracts thankfully make gazumping a non issue here but still...a girl can dream of sales gone by and closes.
http://www.guardian.co.uk/money/2002/apr/14/houseprices.uknews

SEEK MOVE NEST: One time coming in third is preferred in Florida.

SEEK MOVE NEST: One time coming in third is preferred in Florida.: FORECLOSURE DAYZ IN FLORIDA http://www.realtytrac.com/content/news-and-opinion/third-quarter-2011-top-state-foreclosure-timelines-6892?a...

One time coming in third is preferred in Florida.

 FORECLOSURE DAYZ IN FLORIDA

http://www.realtytrac.com/content/news-and-opinion/third-quarter-2011-top-state-foreclosure-timelines-6892?a=b&accnt=305786

Reading these numbers for the third quarter of this year takes my mind in several directions.
My Realtor brain wonders what the real impact of all these yet-to-be-foreclosed properties will have
on our inventory and absorption rate for the next few y-e-a-r-s. Will they trickle or flood onto the market?
The Personal part of my brain feels relief for friends and friends of friends who though living with a gavel over their heads, can stay in their homes for over two years while they figure out what they are going to do and where they are going to go from here.
None of it is good for the spirit or the bottom line of us collectively and individually.

It's time for...Monday Morning Metaphor

With the start of the 2-F's, Fall and football... let's revisit this incredible
display of human skill and agility. Inspiring.
 Pick me!

Lemons, lemons everywhere...and quite a drop to drink.

LIMONCELLO.  Liquid sunshine in a glass.  The Italians, with their vast knowledge of all things delicious, had a hands down hit with this one. Is there a better place to make anything citrus than beautiful Florida? That's right. Just think, you toil this weekend and in a few short weeks...you crack open your first bottle of handcrafted Limoncello, sit back and watch your team destroy their opponenent and then toast to sweet victory.  Hhhmmmm, lemon tree, very pretty...
The citrus choices are interesting too...I'm thinking Key Limoncello might be my next batch,

MAKE IT.

*First thought: double or triple this recipe...if you are going to do it anyway might as well
make several quarts. Christmas is coming.

1 quart vodka  (Skye, Svedka, Fris are all good for this as they are obsessively distilled.)
Whole peel of 6 large lemons  (the big and fleshy ones and don't include the pith!)
2 cups drinking water (specificity applies here, it IS Florida)
3/4 cup sugar
A pretty glass bottle that holds one liter of liquid (for the finished product)
A glass container/jar with a tight fitting lid that holds a liter of liquid (for steeping)

DO THIS.
Mix the vodka and lemon peelings in the glass container, cover and store in a cool place or the fridge.
Forget it is there for 7-14 days.
In a medium saucepan, stir the cold water with the sugar and heat at a medium temperature
until the sugar dissovles. Bring the mixture to a boil and simmer for 5 minutes. Let it cool.
Unearth your vodka/lemon infusion and strain it through a sieve into the pretty and sterilized
bottles. When the syrup is cool, add it to the bottle as well.
Cap or cork it up and store in the fridge, When you are ready to serve it, stash the bottle in the freezer at least 6 hours prior. Makes 1 liter.

TIP:  For a party or a wedding Save waxed paper 1/2 gallon milk containers. Wash them out and open the tops completely.  Place your bottle of Citrus Heaven in the center of the milk container, add flower petals, sprigs of rosemary, whole kumquats, whatever you fancy and then fill the milk container 3/4 quarter full of water. Freeze solid.
Just before the party, peel the waxed paper away and you will behold a frozen block with a bottle of Limoncello contained inside. Wrap and tie a lovely napkin around the block and set on a saucer by your bar service.

Rented Thoughts. Wise words from my Broker.

Each week I post a piece or article to ponder on real estate. This week my focus is on renting. Is anybody contemplating acquiring investment properties now? Some Things to Consider Before Renting a Home You Can’t Sell. In a difficult housing market, more and more homeowners are considering renting their house instead of adjusting the price. We strongly believe that residential real estate is a great investment and therefore can understand this thinking. However, if you have no desire to actually become an educated investor in this sector, you may be headed for more trouble than you were looking for. Before renting your home, you should take the following steps to make sure this is the right course of action for you and your family. Set a consultation appointment with an eviction attorney People rent out their homes assuming that every tenant will pay the rent every month. We must realize, because of the current economy, there are millions of people not paying their mortgage. There is a chance you may rent to someone who at some point can’t (or simply won’t) pay you the rent. Understand what the legal challenges of eviction could potentially be before deciding to rent your home Interview property managers If you are not a full-time investor, hire a professional to handle the property. You need someone to find a qualified tenant, collect the rent and manage the problems. You don’t want to have to make collection calls. What would you say if a tenant told you that they had enough money to either buy food for their children or pay you your rent but not both? You need a person experienced with these situations to help. You also don’t want to receive calls at all hours of the day and night regarding maintenance issues or challenges a neighbor may be creating for your tenant. Create an honest budget Sure, you will receive revenue in the form of rent. However, don’t forget you will also have expenses. Some of the expenses you should consider: Mortgage Payment (unless there is no mortgage on the home you will rent out) Property Taxes Maintenance Expenses such as repairing or replacing: roof, heating/air conditioning unit, appliances, etc. Insurance – Check with your insurance company who may suggest or demand that you increase your liability coverage. Bottom Line Again, renting out residential real estate historically is a great investment. However, it is not without its challenges. Make sure you have decided that you want to rent the house because you want to be an investor, not because it looks like an easier way out than selling the house.  Stephen Bohner   President www.PremierRealtyGroup.com            Premier Realty Group, Inc.  • 2 N. Sewall's Point Road • Stuart, Florida  34996   

d'ete d'adieu!

Summer 2011 is over and I am excited for all that Fall brings with it. Great food, an adundance of flowers and veggies, cool nights and focused sellers and buyers of the many glorious homes available here in Martin County.