Mortgage Rates

The financial crisis in Europe is having one benefit for Americans. Mortgage rates have been driven lower. According to an article in the Wall Street Journal rates may go even lower providing a stimulus to the housing market.

"Falling mortgage rates can give a powerful lift to the housing market. A general rule of thumb holds that every one percentage point decline in mortgage rates is the equivalent of roughly a 10% reduction in the home price for the buyer. So, if the current rates hold, say economists, that could help stabilize prices and allow current homeowners to sell existing homes without substantial price cuts."

For those interested in buying or selling a home in Boca Raton, the lower rates should help stimulate the market.

Take a look at the listings of homes and condos at FloridaLuxury-Homes.com

Design Review Boards

Living in Florida often means living with the rules of the Homeowners Association that you bought into when you purchased your home. In essence, this means you now have a set of rules to follow.

What if you wish to build a gate as an entry way to your property. Can the HOA or it's Design Review Board simply say no to you without just reason? What are the rules that the Design Review Board has to follow?

Here is a good summary of changes made to Florida Law in July of 2007.

Section 720.3035 - Architectural Control Covenants; Parcel Owner Improvements; Rights and Privileges This is a new Section created by the Bill. This Section provides specific guidelines relating to architectural review and oversight of a homeowners' association. The authority of a homeowners' association or architectural review committee of a homeowners' association to review and approve plans for the location, size, type or appearance of any improvement and to enforce standards for external appearance of any structure or improvement must be specifically provided for in the declaration or other published standards authorized by the declaration. If the declaration or other published standards provide options relating to the use of material, size, design or location of any improvement, a homeowner's right to select from such options cannot be restricted. No policy or restriction that is inconsistent with published architectural standards may be enforced.

What does this mean in plain English? This change in law was instituted to protect the rights of the residents. There can not be arbitrary rejections of plans simply because they do not match the tastes of the DRB or other home owners. In summary, unless the documents provide specific reasons to prohibit the planned improvement, they can not be restricted Some people like chocolate and some people like vanilla, and unless the documents prohibit vanilla or chocolate, it is a matter of taste and choice.

Choosing where to live includes understanding whether or not an HOA or Condo Association is part of the picture. We recommend spending some time investigating these associations before you buy.

Use FloridaLuxury-Homes.com to help you find your dream home.

What Should I Offer?

Having looked at multiple homes in Boca Raton you finally have found the home that meets your needs. The location is right, the layout is pleasing to you, and the home has potential. Decision time!!!!

What should you offer?

Currently it is a buyers market. The news constantly talks about bargains galore in home prices. So what should the offer be?

The temptation is to make some low ball offer and to see what happens. That is an option, and your agent is obligated to submit the offer no matter what he or she may think of it. The risk, though, is that you turn off the seller. There may be no reasonable counter offer and negotiations are ended before they begin.

Let's pretend the home you are going to place an offer on is located in Les Jardins. Have your agent do a comparative market analysis of homes that were sold in the community. Come to a reasonable conclusion as to what you feel that home is worth. Use that value to come up with a reasonable offer that will lead to successful negotiations. Remember, the object is not to "win" in negotiations but to sign and agree on a contract that will lead to years of happiness in your new home.

Start your search for your new home at FloridaLuxury-Homes.com. View listings, pictures and tours at your leisure.

What is my Boca Home Worth

What is my home worth?

This question is asked all the time. Homes often represent the largest investment that people make. When real estate prices were rising year after year, people felt good. However, the collapse of the housing market has changed the landscape for everyone.

So, that condo on the beach, villa at your gated community, or your home at the country club, what is it worth?


The easy answer is that the value is what a willing buyer will pay. Home owners naturally value their homes high, and buyers do the opposite and aim low. The value is somewhere in between.

Homeowners are almost always aware of what the price of the home or condo nearby was sold.

The tough question for any homeowner is the following - If your house were offered at the price that you think it is worth, would you buy it at that price?

If you are not selling your home, the exercise means little. If you are selling your home, it is probably the most important issue.

Interested in buying or selling, visit FloridaLuxury-Homes.com.